Flipping America 165, Real Estate LendingFlipping America

Expected Air Date: 07/05/18

Opening

I’d like to say at the outset that my good friend Michael Braswell with Braswell Capital solutions can get you the money you need, both for your business operation needs as well as for your projects. But you can never have too many sources for funding, just like you can never have too many tools in your box.

Karen Hall from Ameris Bank will be with us shortly to discuss some unusual programs offered by her bank. I normally recommend investors not waste your time with the banks because they are pretty closed minded when it comes to the activities of investors. Not so with Ameris. They will do a number of non-conforming loans designed to meet the needs of investors, including fix and flip loans.

There are some hoops to jump through and you have to have bankable credit. And it will take a bit longer than traditional hard money, but if you have some time before closing, you should pay attention to this because their rates are phenomenally low – kind of like normal bank loans.

Karen will join us in just a few minutes to talk about her programs and what Ameris Bank is doing. And after the interview I’m going to share with you the 20 HOTTEST real estate markets in the 1st quarter of 2018.

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News!

Guest: Karen Hall, Ameris Bank

Portfolio loan products for investors in the southeastern US.

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They say money makes the world go round. Some say money is the root of all evil, but that would be a mis-quote of the Bible which actually says, “the LOVE of money is the root of all evil.” Having money is not evil, pursuing money is not evil, and working hard for it is not evil. Perhaps we will come back one day and just talk philosophically about money, but today we are going to focus on a practical issue regarding money – you need it if you’re going to be a real estate investor. I’d like to say at the outset that my good friend Michael Braswell with Braswell Capital solutions can get you the money you need, both for your business operation needs as well as for your projects. But you can never have too many sources for funding, just like you can never have too many tools in your box. Karen Hall from Ameris Bank is with us today to discuss some unusual programs offered by her bank. I normally recommend investors not waste your time with the banks because they are pretty closed minded when it comes to the activities of investors. Not so with Ameris. They will do a number of non-conforming loans designed to meet the needs of investors, including fix and flip loans. There are some hoops to jump through and you have to have bankable credit. And it will take a bit longer than traditional hard money, but if you have some time before closing, you should pay attention to this because their rates are phenomenally low – kind of like normal bank loans.

Transcript

[0:00] Music.

[0:28] Time for flipping America the show that teaches you how to make money in real estate wherever you are whatever your situation there is an opportunity for you.

Flipping America is brought to you today by Braswell Capital Solutions commercial lending made easy

on the web at Braswell Capital solutions.com.

[0:48] And now here’s that flipping America guy Rodger Blankenship thank you Kathy Curtis you know they say

money makes the world go round some say money is the root of all evil but that would be a misquote of the Bible which actually says the love of money is the root of all evil having money is not evil pursuing money is not even working hard for it is not evil perhaps we’ll come back one of these days and just talk philosophically about money but today

we’re going to focus on a practical issue regarding money you need it if you’re going to be a real estate investor.

Now I’d like to say at the outset that my good friend Michael Braswell with Braswell Capital Solutions can get you the money you need bolts for your business operation needs as well as for your projects they have a program

that is designed to help you create a capital out of your good credit

but it’s got a capital it’s a loan for your business that you can use to market for deals or engage in the activities of your business or maybe use it to provide the cash that you need for down payments on loans things like that

to make money with it and then they can also give you her provide for you the

money that you need to do the actual deals but you can never have too many sources for funding just like you can never have too many Tools in your toolbox.

[2:10] Karen Hall from Ameris Bank will be joining us shortly to discuss some unusual programs offered by her bank

I normally recommend investors not waste your time with the banks because they’re pretty close minded when it comes to the activities of investors

not so with amaris the bank president has been a real estate investor and understands our Deeds pretty well I would say.

This Bank does a number of non conforming loans designed to meet the needs of investors including Fix and Flip loans

it’s the first time I’ve really seen a fully flashed Fix and Flip loan from A bank there are some hoops to jump through and you have to have bankable credit.

Also it’s going to take a little bit longer than traditional hard money but if you have some time before closing.

[2:59] You should pay attention to this because their rates are phenomenally low,

kind of like normal bank loans right now so Carriage going to join us in just a few minutes and talk about her programs and what Ameris Bank is doing.

Now after the interview today.

[3:15] I’m going to share with you the 20 hottest real estate markets in the first quarter of 2018 and I promise you you are in for a couple of surprises

yes some things are fairly predictable such as California has a bunch of cities in the top 20 but some things are going to surprise you some of the cities that are in the list will surprise you some of the Cities not in the list will surprise you and

there is an entire state

that I think that any of us if asked ahead of time would have predicted at least one or two cities in that state would have been included

but the entire state is missing from the top 20 and a lot of the top 20 hottest real estate markets.

In the United States are in what we call flyover country there in the central part of the country this is exciting and interesting news we’re living in a time that

well I’ve been in real estate business now since 2002 so that makes 16 years I’ve not seen anything like this and yes I was in it during the years of 2002 to 2005 I was watching what was going on,

that was nothing like this.

[4:29] Alright let me give you a couple of announcements if you want to reach us you can always ask your questions about anything real estate related to send them two questions at flipping America Network.

[4:39] I come if it’s a question that a lot of people are asking and one that

that I can answer with credibility and based on my experience and expertise then I’ll often do that on the air if it’s a question that we have to go look up we’re probably not going to talk about it on the air because we don’t want to try to pretend to be something that we’re not but also I want you to know that your question can be about

NES,

what are asset class in real estate and if we don’t know the answer we will go find someone who does and we will get you the answer we answer every question that comes into the show

and we’re going to continue to answer every question so send them two questions at flipping America Network,

how come don’t hesitate if you’re sitting out there thinking well mine my question is so basic my question is so dumb whatever don’t think that,

just go ahead and fire off an email to questions at flipping America network.com you can find us on social media on Facebook we’re flipping America media on Twitter and Instagram look up.

Flipping America we’ve got a YouTube channel and we’re on LinkedIn wrong Google Plus we even have a Pinterest page that’s right flipping America is everywhere

I know some of you listening probably don’t want to fool around with all this internet Social Media stuff what some people call instaface I get it

no worries just if you have a question and you don’t want to email it or you don’t type or whatever call our national comment line for 04.

[6:06] 369-1018 extension 1 you can leave your message.

[6:13] Also you can find us at flipping America network.com and while you’re there you can just leave a question there

just hit the button that’s in the footer or in the header of every page there’s a big blue button that says start your career in real estate investing click here for free strategy call it is free no cost no obligation and somebody from our team is going to take 30 minutes and ask you a bunch of questions about what you got going on in your life and what you want to accomplish and try this as best we can

to help put together a strategy that works for you and that’s available by going to our website.

If you’re ever in Atlanta and you want to have lunch with flipping America guy just make sure you check out meetup.com flipping Atlanta.

[7:00] Now that’s looking Atlanta because it is in Atlanta Georgia where we’re from and that’s the local chapter of the flipping America show,

but we have.com flipping Atlanta,

and you’ll find out where we’re having lunch right now we’re doing it at Huey luey’s in Sandy Springs every Wednesday from 11:30 to 1 feel free to come and join us we’re always so honored when people from around the country and even other countries

have come to join us here.

If you’re listening to us on the air AM FM that’s great we appreciate it so much be sure to patronize all of the the sponsors of the show as much as you can but

it could be that you want to listen to the show offline and you can do so by downloading the flipping America app it’s free in the App Store there’s no

in-app purchase there’s no up sells there’s never a cost and when you’re listening on the app.

You get access to all of the show notes including every article that we ever talked about on the show and some that we don’t get to,

alright guys going to be here in just a minute and we talkin money.

[8:05] Music.

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[10:02] Music.

[10:18] Karen Hall from Ameris Bank Karen welcome to the show.

Now you’re with the bank and of course there are a bazillion Bankers I could have on the show but in talking with you

I discovered that Ameris Bank offer some programs that are a little bit unusual little bit outside of the box of a normal bank and also some things that can happen for investors,

and so let’s just Dive Right In First will give us the you know your elevator pitch when your Beats my own airplane and you have to explain to him what you do Ready Set Go.

Who’s that guy so I have been in the industry for almost 20 years and I am the girl that likes to think outside the box and help those folks that don’t know how to get financing.

Play when I stumbled on Ameris Bank three years ago we have a portfolio product line.

More at that so then we develop our own portfolio product and right now with the Atlanta flipping

we are focusing more and more on investors that we just came out with a new this week.

And I thought you were talking about earlier.

[11:45] If you are an investor and you’re normally out there looking for hard money.

Call your product if you are under the $453,000.

[12:06] And do the renovation with it or if you already own the property you can refinance refinance.

12 month interest only you can do a balloon so that means you can stay in the interest-only program for 1 year and sell that property before it comes.

If you don’t sell it then we’re going to refinance that property for you with another closing or.

You can modify or you can modify into a 30th.

[12:41] Okay well what kind of interest rates are you talking about interest-only wow.

Qualification you need to have a 680 credit score if you are on the conventional loan amount or 53 or under but he go into the jumbo Market.

Okay and what’s your now are you loaning I may have missed this but are you loaning toward the purchase if it’s somebody that fix a slippery ever has a deal under contract they need to buy it they want to borrow the money to fix it to are you lonely.

Purchase.

Purchase and refinance.

I was going to 70% of after the properties in renovated so whatever.

So you can not be a self contractor you have to have a general contractor they have to be approved by the bank you have to have a contract.

And then whatever that appraised value comes in at.

I was just say you bought a copy for $87,000.

[14:00] What are Chad and the renovation and possibly a Corolla.

I guess it’s a loan to value is low enough yeah what is a licensed general contractor.

Well if they do is case-by-case on that have to get that approved I don’t say no but if they do have a history and what are your closing costs typically.

Atlanta Market I mean you’re looking for good against him Balvin.

Because you got is a half a point origination fee you’re also going to do.

[14:48] As far as if you need to your insurance is going to be on there.

Attorney cost of intangible tax.

So have .5 in 1/8 in interest at that’s by far the strongest steel around.

And I mean no disrespect to the other good people that are doing private money and hard money out there now the difference is you have a credit score requirement which and.

How long does it take you to get from the day you receive the contract materials to a closing.

[15:32] Waiting fired as long as the borrower is working with us and the attorney the appraiser in the insurance agent as long as we’re all working together we can close in 21 to 30 days.

[15:44] Okay so yeah a little bit longer time frame then the non-banks but still

it’s all very doing that we have to do so we have to go through all the verification

but I mean it’s lighting you money and you’re not having to pay all that intro.

And we’re able to do modifications and purchase and refinance it and give you the money

and then we’re going to come in and we’re going to pay out the hard money going to give the remaining amount of money that he needs to read,

and so he’ll want to do more of that because he qualify.

You know we know that investors don’t show tax return they don’t show income.

We can average that 2 year income and do the one for them.

[16:57] That’s going to be a little bit lower,

the bat definitely available.

[17:26] Time in sometimes it may just be a collection sometimes it may just be maxed out on credit cards or something that I can help and restore their credit.

Okay that’s good we got to go to a break but when we get back I’m going to ask you about your other portfolio products.

[17:45] Music.

[18:06] Do you want to learn how to flip houses I want to show you how to flip houses and there’s probably no one in the country better qualified than me to show you I’ve looked hundreds and hundreds of them,

and I also have some training and degree and experience and education so I could show you how to do exactly what I’ve done hundreds of times don’t believe me.

Head on over to put starter event.com but in the meantime Give a listen to Pat caywood.

[18:32] Cleveland Tennessee and I’ve been.

Doing some flipping since about March of this year and had started with a Nationals program that was very expensive I spent today with Roger Blankenship.

Learning about his program and boy do I wish I’d met Rodger first.

He has a clear concise program and many tools that are going to be very hot.

[19:00] And starting and managing a program and the mentorship and Leadership and coaching that he saw frame are in value.

[19:10] Thank you so much.

[19:12] Music.

[20:01] Sean Rogers she’s caring were talking about money today of course money in real estate then those things kind of go hand-in-hand and I’m talking to real estate Karen’s talking about the money and she’s got some money that she wants to put your hands.

And to let’s talk about your portfolio products tell us tell us what about your offer.

[20:19] So I’m we have multiple portfolio program.

Portfolio,

what she say you’re in it and you’re getting ready to get out of it and now you want to purchase the property.

And we’ll go ahead

sorry to another you may want to do that go ahead and get you in.

I’m or short sale beehive property and you’re not within your time trying to do things.

Yeah there’s definitely points involved on the standard.

The other point they have to pay based on your history and we like to see if any credit score we will do down 79.

[21:38] If you got it people and out there that you want to buy.

80% of the purchase price.

Because it is just so dilapidated and you rebuild.

And the interest rate is 7.

[22:26] And then we can offer you the construction perm,

Brookhaven Market.

Cottages at 3:50.

[22:51] These are all wonderful and I’m going to ask you in a few minutes about what do you have rental programs of that sort of thing but let’s

let’s take the plane at 30,000 feet for a minute and look over the landscape of banking in general and assume you have some people who are listening who were

really quite sure what you mean by a portfolio product portfolio loans because not everyone out there is a bank or professional real estate investor and I’m not sure all Real Estate Investors you really even know they talked about that

between the portfolio loan and and the other things that Banks do.

Okay so the difference between portfolio in conventional lending and conforming and non-conforming lending is all about underwriting so the layers of Fannie Mae,

mortgages.

All the dog line from every lender Across America from Fannie Mae and Freddie Mac

each winter have their choice if they want to do overlay to those days.

[24:02] So all the day say about the one on each side that standard.

[24:11] A lot of customers do not fit in that favor box not when there’s not so much brighter it out to Banks like me.

So we have a minute let me ask you this just about that for you get too far away.

The the conforming loans if you’re talking about the conforming loan that’s from Fannie Mae and really banks are thinking about their exit strategy because a lot of times when people people come to me.

And they say hey I bought a house in the closing this it somebody else is going to be taking care of the loan I don’t even know what that means what happened when I said,

you know you’re at your note. So what what does that mean people don’t know somebody else and so.

Basically what you’re saying is the guidelines are written and I want to say and Rewritten and Rewritten and edited change but basically they come down from.

Fannie Mae and Freddie Mac in the bank’s going to do if they want to make it conform if they’re going to sell the paper or they want the opportunity.

Call The Circle of Life in in Easy terms.

And I’m going to the money that I had that I’m going to sell that no she was.

[25:35] And they’re going to buy that knows and they’re going to buy the starter thing from.

And so that mine we send him a goodbye letter,

I don’t know,

banking business works

we found those notes so we can learn more money to other customers and that’s what happened but money is in how money.

Are bank money that we are winning we write our very own guidelines

we write our very an exception three doors to the president.

It and how much money is or are very important earlier so we can be.

Queen Jackson Sr exception.

The whole but everything is decided right here inside.

[26:58] Yes and so then the next question is why do you think more Banks do what you’re doing right now the program we’ve been talking about.

[27:08] Some banks dude because there is a wide variety of customers.

Our help and so we have it.

We understand it my boss the president of the bank he was an actual loan officer so he knows where we are.

EarthCam job interview four years ago with him.

And he dialed some random loan officer and she said he answer the question why he.

And that resonated with me and stay with me and I said I am because,

we have such a stressful job not only dealing with investors real estate agent attorney each individual.

And the support she be able to help those customers as investors and people that don’t fit inside the Box.

[28:18] I believe that’s why I’m or more banks are doing that because we we Bankers know how to do it we need to help them we need to make this economy grow and.

What do you say more and more Banks but I don’t know about more and more Banks and maybe you need to tell me but the maybe off their butt.

I don’t know very many banks are doing what you’re doing and we got to take another break but when we get back I’ve got I want to play 20 Questions with you okay right back.

[28:49] Music.

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[30:29] Music.

[31:10] Alright so you guys are doing some creative outside the box stuff and so.

I want to know I’m just going to throw some different scenarios because you know I do a lot of meetings and I lead I talk to a lot of people and I get questions constantly in here at flipping America headquarters and that people are looking for money for different things.

So you’ve answered a lot of the questions and I’m glad that I’m able to people in your direction but let’s say.

A guy has a package of 20 rental houses 50 number free and clear and and the other five have small balance is remaining on him and he just wants to do one.

Loan One commercial loan for the whole thing you don’t handle.

[31:54] One commercial and so I do have a very strong commercial department and their family

the commercial Department in can do.

Things that I should not do so I can only do at 2 at for unit or I can do individual you can’t do a blanket loan.

Over all of it.

That one property had enough equity in it that we could draw out at it.

[32:31] The only way I can do that in the residential side

maybe he can do you know a blanket mortgage he can do something completely different I better option for this person okay.

There are four commercial lots and two of them have old houses on them that need to be torn down and somebody wants to borrow money to put in a.

A little love they’ve already got the zoning done and they want to put in a gym you know Recreation right you know when I work out so I can I come to you for the loan.

So that’s my commercial partner Jeff and I can definitely share that information but the answer to that is yes and FBI Vines,

so we had two yeses don’t go throwing out that I’m pretty sure the answer is going to be know a person has a contract on a house that they are buying subject to you know they’re buying subject to the existing financing and they’ve already

I’m taking possession of the house they’ve done the closing.

And they’re servicing the existing loan but they need $47,000 to finish out the repairs and so they’re looking for some money is it would be in second position looking for some money to finish this project.

[34:01] Barry and the property there on the deed.

[34:08] Dramedy that are not on the line these the person who sold the house.

[34:14] Bella says seller Helm boat.

[34:24] Any 27,000 to finish the repairs and he’s going to sell it

mission on investment property,

and be done with it so that’s what I thought you would probably say

but I can’t feed you every question being a you know what I have to say no to some of these people that they contact me from time to time right,

you know the one they money.

I’m there’s a need for it and some places and so it’s just good to know all right.

Okay now this one I actually don’t know what you’re going to say but.

A person already has that they’ve been investing for 10 years and they already have 15 casual and rental properties all of them have loans on it but I don’t have good credit

you know 700 Plus credit and

they’re looking to buy another rental property you know they already exceeded the amount of conforming mortgages they can have can they borrow money from Ameris.

[35:46] Yeah I see.

Is that is the number one word when any loan comes across hard at.

[36:06] Yeah it would have to be because they can’t get a conforming loan on it.

Right there 10 is the limit for financed properties.

Or take cash out of another one pay cash for that other property.

You know we like to keep our loan amount maybe around 40,000 because.

[36:42] Not really because you don’t have a mortgage on a property.

[36:48] $20,000 loan but I would do them.

[37:05] Yeah because there’s not a percentage

and that the reason.

[37:44] Copy that all right.

[37:48] Let’s say I have an investor friend who has a double wide trailer they bought as an investment now they’re selling it on the regular Market they have a buyer who needs financing will Ameris Bank do financing on a double wide trailer on 3 acres.

Depends on the age of the double-wide.

Because I don’t do many of them that yes we do.

[38:19] 2000-2005 of the year of the mobile home.

Yeah that’s not more than maybe 15 years old or something like that,

okay well I don’t know if that was 20 questions but that was several in Rapid Fire thank you for the good 16th answers let’s take a quick break and when we get back I want to I want to just introduce Karen a little bit more to our audience.

[38:46] Music.

[38:54] Not too long ago we did a one-day flip starter in Chattanooga Tennessee and low and behold one of my old College friends came out to the event his name is Peter Faulkner and here’s what he had to say about the event.

[39:07] Peter Falkner here I tended a one-day flip starter training session led by Rodger black.

And I was amazed to see what has happened in Rogers Live from the last.

Plus years flipping over 800 houses and then this one day training he told how he did it and what the pitfalls the blessings the benefits.

And how to do it and I was so impressed with how well organized and how smooth the training went today.

You’re tempted or in courage to go go at was not a bad price and if you get a chance to do it even just to consider in bed.

But I just want to thank Rodger for a great day today.

[39:50] Music.

[40:07] We’re back I’m Rodger Blankenship and I teach people how to make money in real estate and I’ve got I’ve had with me today Karen Hall with amerisbank and Karen,

I just like to always with all my guests on the show I like to find out a little bit about them personally mainly because most.

People who are alone in their career more than 4 5 years are doing something they never plan to do and so the question is.

When you were little girl what did you want to do.

How to say I’ve always wanted to be an architect structures.

I love history I love buildings that have a stall and have a story and.

[40:53] I was always scared laugh at me I’m scared,

well you know you’re doing math for a living it’s not the abstract method I don’t know that architecture is really that much abstract math you have to know a little geometry.

Yeah like how to be more of an engineer and things of that nature and probably back in the 80s on my gosh I’m dating myself.

So when you went to college you didn’t major in Mortgage Banking though.

No I didn’t I major in computer programming and South Carolina.

Fan and I meant to Charlotte and I wanted to work for a magazine or newspaper.

[42:08] And not a single one of them when they were a kid.

[42:23] I’ll grow up to be a real estate investor.

We’re adults now we’re kids that wasn’t even a career option that anybody consciously made people ask me what how did you why’d you get in real estate investing I tell him out of sheer desperation and lack of communicable job skills.

[42:40] 20 years ago,

we moved from Charlotte to Columbia and I had answered an ad in the paper and it said you like to sell,

and sales in Charlotte,

I need to call me at the barn and down.

No looking back so,

now I still kind of keeping it a little bit personal but we’re talking to a lot of people who are either

reentering real estate as a career maybe they’ve already retired from something else and we have a surprising number of younger people who are looking for something different to douche they’ve been in their relationship

they’ve been in their thing for 6 or 8 years and you’re thinking about launching out into their own business so I want to ask you.

Karen O wise one some advice to people who are looking to get into real estate as a business or to even open up their own business in general.

[43:58] As far as.

My turn your finances or is what are some things you do when you went into sales it was a commission position right.

Absolutely I’m a hundred percent commission so that had to be a little nervy to begin with.

It’s very daunting as an employee.

And I would say to anybody that wants to Branch out into being in sales.

All my new hires when they come in and they are green and you have to be able to take the word no.

[44:40] You have to be able to get up every morning and get right back to it you have to have very thick skin,

and you better had a Year’s worth of savings in your bank account and you know because you don’t have permission chat.

Do you need to be able to.

Stretch those dollars in monitor your spending and you know all the time.

In this business your salary becomes effective when you do.

[45:21] Yeah yeah and that’s what I’m saying that you have to get up every morning and get right back at you need to be hungry.

And you no matter how bad your day was really good.

Did you have to get up every that you have to have you have to be motivated and you get out there and network and tell people what you do because if you don’t tell him no one else will.

If you don’t do it I’m going to do it right.

What is a good words in you know Karen is based here in Atlanta and so go ahead and tell people where we met.

[46:19] We met on every Thursday we have a have an investor group I have what you want.

And I’m saying all walks of life come to our investor meeting and I Rodger was there and I’m there to introduce Ameris Bank

America and his training in His Radio.

I said I want to be on the radio and said here I am.

[46:56] That’s true you do, but the point is we met at a networking event and so even though I’ve been around the block half-dozen times and I’ve done a lot of property and know a lot of people have been in the business.

I am not sitting still.

And waiting for something to come to me I’m going out to find it still everyday going out to find it and so I like what you said.

You know and you know I say your salary becomes effective when you do but I also you know you just you can’t stop when you’re in this for yourself,

by yourself unless you got residual streams of income which is another course in another show but unless you have a residual streams of income you got to get out there and make it have.

That’s right that is exactly right.

Oh you mean like just before 5 years ago oh wow really okay alright.

People are watching this on the on our YouTube channel or going to be very surprised I’ll be a surprise as I am.

I just dress thank thank you so much for taking time out of your schedule to meet with us today look forward to talking to you again and and seen you around town at the events.

[48:15] Music.

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[50:07] Music.

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this month in July all right.

I promise that I was going to share with you the 20 hottest zip codes for quarter one in 2018 and without further Ado here they are and a couple of surprises on here but

it’s no surprise that California is once again dominant on our top 20 list.

[51:06] As it has been for some time with I think Seven Cities out of the top 20 the number one.

[51:15] Let’s go with that start with number 20 in microwave backwards okay number 20 on the list is Salt Lake City Utah and number 19 is Petaluma California number 18 is Montclair New Jersey now this is kind of the

New York Newark Jersey City area and then number 17 Tracy California that’s the Stockton Lodi California area number 16 Roseville California that’s right around Sacramento

number 15 Fresno California.

[51:44] Number 14 is Clawson Michigan now that’s you know kind of from Detroit Warren in Dearborn Michigan number 13 is Columbus Ohio,

number 12 is Minneapolis-Saint Paul and number 11 is Boise City Idaho didn’t number 10 is Overland Park

Kansas and the last to Boise City Idaho now I know boys I said he’s been going on going strong for a while and and a Kansas City also but it’s a surprise to me that they are this high up considering what I have believed that I know about some other markets that are not even in this top 20 list

and I’ll get to that just a moment San Diego California comes in at number nine

and then the number eight is San Jose Sunnyvale and now this is a drop for the San Jose area because they were number one for a good part of 2017 number seven another surprise is Grand Rapids Michigan

and number six another surprise Rochester New York.

[52:46] Then number five no surprise Denver Colorado a number for Boston Massachusetts number 3 San Francisco

still near the top and number to Dallas-Fort Worth in Texas and number one the hottest real estate market in America in the first quarter of 2018 is,

Colorado Springs

no I live here in Atlanta and there are some areas in Atlanta that have days on Market Delta Colorado Spring has average days on Market of 15 I know some areas in Atlanta have days on the market less than that and I’m guessing that in some of our cities were we are on the air right now you’re thinking will I know some areas that have days on Market less than 15 and folks let’s not forget

15 is an unbelievably historically low number to have an average days on Market.

And still we see a number of areas that have less but when you look at the broader area I suppose that that makes,

Atlanta not even place in Atlanta is not in the top 20 and I was pretty surprised about that when I saw this list neither is Charlotte and did you notice there is one state that is notably absent from this list.

[54:00] The State of Florida does not crack.

Top 20 in any of its markets and so my friends what you’re seeing is the wealth his is spreading everywhere

markets are hot all over the United States and there are very few isolated spots where the markets are not hot I would say the coastal region on the East Coast really pretty much from.

Miami Beach all the way up to until you get to the Boston area it’s pretty slow more of a balance Market on the east coast and there are certain portions of course in smaller towns in,

the central part of the of the country that are also seeing a balance Market but.

[54:45] The hot markets are everywhere and if you’re in a

a major city with a lot of competition and you’re thinking there’s just not enough deals to go around and you don’t know what to do

somewhere just 60 or 80 or a hundred miles outside of where you are to a smaller town and start studying that and.

How to Realtors there and see if that market isn’t hot now it may not be as hot as the markets in the top 20 hear but hot enough,

with less competition that’s the thing my friends you need to go where there is less competition to increase the number of deals you can do I’m not suggesting that you move there

just figure out a way to set up shop there

and I can’t bring you all this good news for that also bringing you the sky is falling news I’m going to link you to an article from gourd collins.com

talking about the coming real estate housing crash in the US and Canada and when you look through this article and you begin to

read through their Twitter a identify 12 housing crash factors excessively high home prices via a price bubble increasing underwater mortgages fast-rising interest mortgage rates

slowing economy and sudden rise in unemployment wage growth not keeping up with home prices.

Tax changes and geopolitical shifts trade deal disturbance a stock.

[56:09] Bubble in volatility high level of Consumer Debt affecting debt Servicing,

cost of living Rises risky low mortgages low rate mortgages for new home buyers and high Oil and Gas Energy prices and I’m just thinking really who decided that these are the 12 housing crash factors okay folks want you to not believe everything that you see in print

because

I can see excessively high home prices that contributes yes that would be extremely Factor increasing under more underwater mortgages will that would be a factor but I don’t see it anywhere in the mark

fast rising interest mortgage rates

would you characterize what we’re having as fast rising rates I would not I would say that the rates are rising a pace and it’s the pace that the Mini have thought was needed for a while.

[57:01] Including me and we don’t see it going over five five and a half percent in 2018 which is still and historically low interest rate

wage growth not keeping up with home prices yes that would be a factor that would lead to a slow down or even a crash a slowing economy and sunrises unemployment well maybe that would be true but that’s not happening in fact we have the lowest unemployment and recent memory and in some cases in sand segments of the population the lowest

ever recorded unemployment

text changes in geopolitical shifts really who said that has anything to do with housing trade deal disturbance I think they threw that in there just because there’s some trade deal stuff going on there was no trade deal disturbance going on a 2007

nothing nothing about the trade volatility or anything like stock market bubble and volatility I don’t think that really tracks with housing the stock market

Market always has its Bubbles and always has its volatility but housing is always been around cost of living Rises is a fact of life throughout the history of the recording cost of living

high level of consumer debt that’s always been around risky low rate mortgages for new home buyers that is a ridiculous way to try to predict that we’re going to,

end up in a crash other words basically I am.

[58:22] I am going to lick you to this article but I’m disregarding it and saying this is somebody just wanted to say the sky is falling because every time there’s good news somebody thinks they’re going to get in print by saying there’s bad news coming,

so stay tuned folks will bring you all the news next time around.

[58:38] Music.

[58:48] Discipline is the habit of doing what needs to be done when you don’t want to.

[58:54] This motivational quote comes to you from me the flipping America guy and is brought to you today by the foundation for renewal.

Working together with communities to improve an impact lives Nationwide find them on the web at renewal fun. Net and as always your gift is a 100% tax deductible and very much appreciated.

I’ll see you soon.

[59:17] Music.