The Double Comma Club

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Short Term Rentals Made Logical and Lucrative

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We hear about owning short-term rentals. Many of us take advantage as we have started traveling again. Gone are the days when you could grab some random property in a decent area, furnish it with Goodwill furnishings, and make a profit after covering your mortgage. Listen as Nicole's guest Michael Vialpando makes it simple to understand how to do this, and enjoy the process.

The Next Big Thing - Rueth, Kruger, Soto, Alba, Veden January 20 - 21 2022

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I'm SO excited! The Next Big Thing is approaching and I can't wait. I will of course be there sharpening my own saw, but I will also be SPEAKING. I'll be giving the latest updates in Lending, and what to expect down the road. I hope you're as excited as I am; The Next Big Thing is coming, and we hope to see you there.

We are thrilled to have Katie and her expert panel speaking about Commercial real estate trends, and how that affects the Residential Real Estate Landscape. Katie is the CEO of the Denver Metro Commercial Association of Realtors, which represents 2,000 commercial real estate professionals across Colorado!

It really is good to give, and we are thrilled to have Javier Alberto Soto, President and CEO of The Denver Foundation speaking at The Next Big Thing. Javier will be discussing how to integrate philanthropy into your business model, and the advantages of doing so.

Let's welcome Ann Alba and Stacey Veden, customer experience and service specialists from The Broadmoor Hotel. Combined, these 2 women have 34+ years of customer service experience and will be sharing how their principles translate to the world of real estate. You DON'T want to miss this dynamic duo share their keys to a 5-Star 5-Diamond experience.

 

 

 

Tickets available here: https://bit.ly/3iFGic4

The Next Big Thing - A Real Estate Experience January 20 - 21 2022

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The Next Big Thing is shaking up how Real Estate professionals will define business success. This two-day event will be far from typical. While our past may have shaped us, it is time to define the future. This energy-rich, content-driven event will introduce the biggest drivers shaping the industry, and instill how to harness the next big thing to catapult your own business.

Built on the foundation of helping others build wealth through real estate, The Rueth Team has created the ultimate tool that is The Next Big Thing. Over the course of two days, you will hear from industry leaders and pioneers who have paved the way and achieved the highest levels of success. They are leaders who inspire, and businessmen and women who are challeging the 'norm.' You'll discuss how the world is changing and what’s needed to stay two steps ahead. Together with four hundred and fifty other professionals, you will build a foundation to become the Next Big Thing.

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Where did all the under $500K homes go?

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The July DMAR Market Trends data was released this week, and there are two notable trends. First, when comparing 2021 to pre-covid 2019, our seasonality is falling back into normal ranges. We have a healthy influx of listings which were up 8 percent, 2 percent more homes went under contract, and there were 7.5 percent more closings when compared to 2019, yet we continue to see three times the price growth. If I return to our current month-over-month or year-over-year and stop there, we are bleeding red.

But the real story is in the green. Green month-over-month active listings are eluding to hope that more balance is on its way, yet green double-digit annual closed prices say that balance may not arrive too quickly. The second trend that stuck out is that year-to-date, homes priced over $500,000 are flying off the shelves compared to 2020 and 2019, with more homes at higher prices coming on the market, going under contract, and closing. Year to date 54 percent of all homes sold in the Denver market were over $500,000. In July, that number spiked to 74 percent. Where did all of the under $500,000 priced homes go?

 

1031 Reverse Exchanges and What You Need To Know

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In this episode, Tracey Wilson of IPX1031.com compares the 1031 Exchange from the previous episode and explains the 1031 Reverse Exchange. In the previous episode Tracey Wilson went into details about the 1031 Exchange laws, how they work, details you need to know, including the six rules.

Here is the nutshell of this 8-minute episode. You'll want to listen or call Tracey to get a more comprehensive explanation:

In a Forward Exchange, you would sell the old property. You have 45 days to identify the new, buy new, then 180 days to complete the purchase of the new property.

In a Reverse Exchange, there are two types:
1. replacement property parked first
2. relinquished property parked first.

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What you need to know about 1031 exchanges

What you need to know about 1031 Exchanges

 

Nicole welcomes Tracey Wilson of Investment Property Exchange Services. You can find him at ipx1031.com. Ipx1031 has provided its clients with superior qualified intermediary services for three decades. And each year they assist thousands of clients and their tax and legal advisors by providing proven exchange solutions that best achieve the client's goals of enhancing their business portfolios and preserving equity. But he'll tell you more about that at the beginning of this episode. This is a two-part episode. There is so much to learn. This first one covers the basics you need to know as an agent and as an investor, about a 1031 exchange to avoid capital gains taxes. He will give you guidance, no matter how creative you think you are, he will have solutions and some recommendations to keep you out of hot water with the IRS. Listen to this episode now.

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False Summit or False Peak? DMAR June 2021

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The second half of May seemed to open up a bit. But, sorry, it was a false peak. Less inventory came on the market and more buyers went out looking for it. Inventory was down 6% from last month, and down 14% from last year inventory.

6718 homes went under contract, which was up 17% last month, and up 3% from last year.
Active listings dropped last month. In fact, there was a 20% drop and inventory fell below 2000 homes for sale the second time this year. Listings are spending and average of four days on market.

You have to be ready to pounce, offer 30K over asking, without any contingences and ready to close in 2 weeks.

26% higher close - higher end homes.
23% higher close -medium priced homes.
$700,000 average closed price detached.

We are nowhere near the peak. Same with rates. Rates turned up mid-month.
Inflation jumped 4.2% - the highest in 13 years. Core inflation jumped to 3%. This was the highest monthly gain - EVER. Get the rest of the insights by listening to this 9 minute episode. More false peaks are expected.

8 Steps to Self-Leadership with Ryan Leak

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Author, Speaker, Coach Ryan Leak is back! His book, Chasing Failure has been published. 8 steps to learn self-leadership starting now!

We laughed pretty hard and learned so much! Here are the questions covered:

1. What's it like to be around me?
2.  Do you know where you want to go?
     - What's one word you'd use to describe you?
     - What's one word others would use to describe you?
     - What's one word you'd like others to use to describe you?
3. What credit can I give away?
4. What mistakes can I own?
5. How can I get better? 
6. When can I make time to invest in myself. 
7. Whom am I investing in for the future?
8. Who knows who I really am? 

Inflation Explained to Understand Why It Changes

what is inflation and why should I care?

Headlines regularly push the topic of inflation. We usually know it's bad if it goes up, but why? What causes the change, and what industries are affected by it that will affect my life? These are questions answered in this episode. 

So what is inflation? We know it can occur in any product or service including need base expenses and want base expenses. We also know that the Federal Reserve Bank monitors the inflation rates.

The Consumer Price Index (CPI) measures what you and I feel at the grocery store, medical care, etc. Inflation rates have moved from 2.5 to 4.16 which is the largest increase since 2008. Food costs are rising twice as fast as pre-COVID. Retail sales are running out of steam after stimulus monies have been spent and sticker shock is settling in. This also pushes interest rates up.

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How to Build Your Top 25 Brand Advocates

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We continue the Agent Ignite session with Dr. Bruce Lund as he helps us master the four-hour workday. Some of what he covers in this session includes knowing the difference between a promoter and an advocate. Understanding the levels of relationships in business: Connectors, climbers, somedays, aspirational, and experts. He has some actionable homework for you too. Get excited! Listen now.

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