Dean Graziosi Weekly Wisdom #217 - Seeking Investor Area Managers

Providence
1. Unemployment Rate Now 10.4%
2. Unemployment Rate 12 Mo ago 11.1%
3. Avg cost of 3 bed $102,296
4. Avg Rent of 3 bed $1,325
5. Avg Taxes for 3 bed $3,262
6. Current Days on Market 79

Power Team in place! Attorney, Realtor, Property Manager!

GreenBay, WI

Unemployment Rate
Oct 2012 7.6
Oct 2011 8.6

Average price 3 bedroom house
109,000

Average Rent
800-1000

Average Taxes
2400

DOM 129

Appleton, WI

Unemployment Rate
Oct 2012 6.6
Oct 2011 7.8

Average price 3 bedroom house
117,000

Average Rent
750-950

Average Taxes
2900

DOM 130

1. What city are you in?
Syracuse, NY

2. What is the current unemployment rate and what was it 12 months ago?
7.9% most current reported
9.4% Jan 2012

3. What’s the current average cost of 3 bedroom house in your area?
$105,000

4. What’s the average rent for that same house?
$1,050

5. What are the average annual taxes for that property?
$1,500

6. What are the current days on market?
112

Hi Dean,

Here are the six questions to answer:
1. What city are you in? Atlanta, GA area

2. What is the current unemployment rate and what was it 12 months ago?
unemployment rates for metro Atlanta, GA – 8.2% in October 2012, down from 8.3% in September 2012; In October 2011, the rate was at 9.4 percent figures

3. What’s the current average cost of 3 bedroom house in your area?
Varies greatly, ex. 1725 Parkhill Dr. Decatur, GA $110K; 317 Englewood Ave SE ATL, GA $159,900 reduced from $179K

4. What’s the average rent for that same house? $950- $1350 avg per Craigslist

5. What are the average annual taxes for that property? $616 for the 317; $978 for 1725

6. What are the current days on market? 75 days on market

I would love the opportunity to work with you Dean.

God bless and hope to hear back from you, oh the mini-iPad would be a great bonus!

Leslie M. Day

1. What city are you in?
Syracuse, NY

2. What is the current unemployment rate and what was it 12 months ago?
7.9% most current reported
9.4% Jan 2012

3. What’s the current average cost of 3 bedroom house in your area?
$105,000

4. What’s the average rent for that same house?
$1,050

5. What are the average annual taxes for that property?
$1,500

6. What are the current days on market?
112

City: WOODBRIDGE, NEW JERSEY 07095

Unemployment Rate: 9.74%. 12 Months ago: 9.01%
Average Cost of 3BR: $280,000
Average Rent: $1900
Average Taxes: $5,500
Current Days on Market: 35

1. Corpus Christi, TEXAS 78414

2. City Unemployment rate
Oct. 2012 - 5.4% (6.6% Texas State rate)
Oct. 2011 - 6.8% (7.8% Texas State rate)

3. Avg Cost of 3 Bedroom- $139,000

4. Avg Rent - $1,250/mo.

5. Avg Taxes - $3,300/yr.

6. Avg DOM - 94

Thank you for the great opportunity to share valuable information with DG family!

JAKE JEONG

1. Current City: DeSoto (Texas)
2. Current unemployment rate - 7.2% and 12 months ago - 8.8%
3. Average cost of 3 bedroom house in my area - $140,524
4. Average rent for that same house - $1,495
5. Average annual taxes for that property - $1,305.38
6. Current days on market - 36 days

-Joy

1) City: San Jose, CA
2a) Current unemployment rate: 7.8%
2b) Unemployment rate in December 2011: 9.1%
3) Current average cost of a 3 bedroom home: $540,000
4) Average rent of 3 bedroom home: $2,595.
5) Average annual taxes: $2,760
6) Current DOM: 44

7) The percent of unoccupied homes in San Jose is very low. 10.85% below the national average.
The percent of rental properties in San Jose is 18.28% above the national average.

San Jose may or may not be an area of choice. If the opportunity is right I know someone (ahem) who might be willing to make some life changing decisions to be the person(s) of choice in the area that you do end up choosing. And if I win the iPad, I promise to donate it in the name of the DG family to a child in need who was impacted by Hurricane Sandy.

1. What city are you in?

Columbus, Ohio

2. What is the current unemployment rate and what was it 12 months ago?

(January/ 2013 Columbus rate 5.5%. National rate 7.8%)

(January/ 2012 Columbus rate 7.2% National rate 8.3%)

3. What’s the current average cost of 3 bedroom house in your area?

Anywhere from 7,000$ to 45,000$ depending on location

New homes Median Price: $149,900

4. What’s the average rent for that same house?

3 Bedroom Rental Median Price: $1,010

5. What are the average annual taxes for that property?

Columbus real estate taxes: $0.75 / sq.ft.

6. What are the current days on market?

Average Days reported on Market 178 days

Can be less if marketed well

Answers:
1. My city is Austin, Texas
2. Unemployment rate is, currently, 5.5% and 12 month ago is 7.3%. So definitely is a plus to do invest here.
3. Current average cost is depend on the type and area of the home, typically average cost of a new home is $100 per sqft, old home old neighborhood is $65 per sqft.
4. Average rent for a single home here for 3bd and 2ba is $1 per sqft. For example, if 1500 sqft home can rent $1500.
5. Tax rate in Austin, Texas is for new subdivision 2.7% and old subdivision is 2.5% (average)
6. According to my real estate agent (part of my power team), the average home that on the market is 67 days. To me, is quite long.

Market moved vs market average:

I think where I live, Austin Texas, to make a market move you have to go below the average. For example, if you find a home for 3 bd 2ba and you rent it out at $900-$1100 then you will certainly have a renter very quickly.
As for selling a home, if you sell a 3 bd 2ba home below the average price you also will sell it very quickly. For example $65 per sqft home at $100,000 for 1500 sqft can sell very quickly at $80,000 - $90,000.
You may go with the average deal, but you may take a risk of holding on your investment for awhile.
Market moved may lower your profit but in the long run you may come ahead. Of course, I am only a rookie, but certainly, I like to hear from the expert as you. Let me know what you think. Thanks.

Peter

1.-SAN ANTONIO TEXAS.
2.- LAST YEAR 7.6% CURRENT 6%
3.-AVERAGE FROM 120 K TO 140 K
4.-AVERAGE RENT $ 1,100.00
5.-AVERAGE ANNUAL TAXES $ 3.000.00
6.-D.O.M. 93 DAYS

1. What city are you in?
Sarasota FL

2. What is the current unemployment rate and what was it 12 months ago?
8.2% as of Oct 2012, 10.8% as of Oct. 2011

3. What’s the current average cost of 3 bedroom house in your area?
Median price is $175,000 per Trulia.com.
However, if you eliminate expensive, coastal area homes from the equation, the true average for a typical 3-bdrm home is closer to $120,000. The market in Sarasota is unique combination of extremes from $60,000 for a 3-bdrm to a $13,000,000 homes all within a relatively small geographical area. The proximity to the Gulf of Mexico makes a bit of a difference in price!

4. What’s the average rent for that same house?
$1300 for a $120,000 home

5. What are the average annual taxes for that property?
$2400
6. What are the current days on market?
260 days.

1. What city are you in?

Columbus, Ohio

2. What is the current unemployment rate and what was it 12 months ago?

(January/ 2013 Columbus rate 5.5%. National rate 7.8%)

(January/ 2012 Columbus rate 7.2% National rate 8.3%)

3. What’s the current average cost of 3 bedroom house in your area?

Anywhere from 7,000$ to 45,000$ depending on location

New homes Median Price: $149,900

4. What’s the average rent for that same house?

3 Bedroom Rental Median Price: $1,010

5. What are the average annual taxes for that property?

Columbus real estate taxes: $0.75 / sq.ft.

6. What are the current days on market?

Average Days reported on Market 178 days

Can be less if marketed well

1. Portlnd/Gresham and many outline areas.
2. unemployment rate was at 11.1% and has now finally dropped a little bit to 8.4%.
3. current average cost of a 3 bed room house is extremely fluctuating due to so many outskirt areas that have extremely high house prices and some with extremely low prices. from $100,000-$550,000. it is very hard for an average with out hours and hours of reseach for each area.
4. What average rent is in low end is $1,053.00 month. outskirt areas will be much higher.
5. annual taxes, the best i could do to tell you the average for Multnomah County (which is the highest in the west side of the Cascade Mountain range is 8 to 10%. that would be the highest you pay. My house is worth $320,000 and i pay $3900 a year.
6. current days on market, again it varies so much the best i could say and find is anywhere from 30 to 180 days. but if the houses are priced to sell they sell fast.

thank you for your time
Sincerely

TC Hesselgesser

Southwest Florida: Includes Fort Myers, Naples

Unemployment:
Naples 8.2% Decrease of 1.7%
Fort Myers 8.6% Decrease of 2.1%

Average home price:
Naples $217,000
Fort Myers $115,000

Average rent
Naples $1,500
Fort Myers $1,300

Property taxes:
Naples $1,800
Fort Myers $1,500

DOM:
Naples 180
Fort Myers 195

Looks pretty good to me.
Change my life Dean

CITY: Abingdon, MD
UNEMPLOYMENT RATE: 6.2% DOWN FROM 7.5%
AVERAGE COST 3BR: $216,000
AVERAGE RENT 3BR: $1300
AVERAGE TAXES: $2300
DAYS ON MKT: 90-120

Below please find the information requested:

1. What city are you in?
Austin, Texas

2. What is the current unemployment rate and what was it 12 months ago?
Current 5%,
12 months ago 6.1%

3. What’s the current average cost of 3 bedroom house in your area?
$225,000

4. What’s the average rent for that same house?
$1200.00 to $1500.00 per month

5. What are the average annual taxes for that property?

As a general rule for figuring property taxes, use 2.5% and 3% as it can vary with different taxing authorities (especially if it is county vs. city). So, property taxes would range between $5,625 and $6,725 on a $225,000 house. Also, there is no use tax here in Texas.

6. What are the current days on market?
67 days on market average for the Austin area

Additional note - Austin is arguably the the country's best crucible for small business, offering a dozen community programs that form a neural network of business brainpower to help entrepreneurs. Now overlay that net with a dozen venture-capital funds and 20 or so business associations, plus incubators, educational opportunities and networking events. Mix all these elements in what many call a classless society, where hippie communal coexists with no-nonsense capitalism, and you've got a breeding ground for start-ups.
Don't discount the fun factor: In the self-proclaimed live-music capital of the world, music and business creativity riff off one another. The city's famous South by Southwest festival, where concerts, independent film screenings and emerging technology overlap, is a prime example.

This is a fantastic opportunity and I am grateful just to have the chance to contend.

All the best -

1) City: Colorado Springs, CO
2) Unemployment rate: 2011= 8%
2012= 7.7%
3) Zip: 80917: Avg. cost/3 bdrm. = $180k
4) Avg. rent/3 bdrm. = $1,225 mo.
5) Avg. taxes = $841.00
6) Avg. DOM = 120 days

Colorado Springs is in the top five favorite places to live. You could really get the economy going here! I'm a new "graduate" of Dean's Boot Camp and I'm working the plan! I'd love to see his methods first hand and partner with him.

1. What city are you in?
Dayton, Ohio
2. What is the current unemployment rate and what was it 12 months ago?
8.3% last yr 8.2%
3. What’s the current average cost of 3 bedroom house in your area?
83,260
4. What’s the average rent for that same house?
850.00
5. What are the average annual taxes for that property? $992.37

6. What are the current days on market?
DOM 134

1. Lexington (Fayette County), KY:

2. Unemployment Rate as of October 2012 6.3% December 2011 6.9%

3. Average cost of 3 bedroom house: $155,763 (all of Fayette County) $109,975 (40517)

4. Average rent for 3 bedroom: $931 (40517)

5. Average taxes for 3 bedroom: 1.1191% or $1744 (Fayette) $1194 (40517)

6. Average days on market: 68 (Fayette) 77 (40517)

1. What city are you in?
Salem, NH

2. What is the current unemployment rate and what was it 12 months ago?
current rate is 6.4% (NH is 5.7%)
a year ago rate 8.7%

3. What’s the current average cost of 3 bedroom house in your area?
average 3br/1ba is $215,000
(up 5.2% since last year).

4. What’s the average rent for that same house?
average rent is $1850/mo

5. What are the average annual taxes for that property?
$4500/year

6. What are the current days on market?
Houses priced under market value are being scooped right up. Houses at value are going in 1 to 3 months.

1. What city are you in? = Albuquerque, New
Mexico.

2. What is the current unemployment rate and
what was it 12 months ago?

(a)current unemployment rate = 6.4% as of
October 2012.

(b)12 months ago = 7.6% as of October 2011.

3. What’s the current average cost of 3 bedroom
house in your area? = $170,000 is the current
average cost of 3 BR as of November 2012.

4. What’s the average rent for that same house? =
$712 is the average rent for 3 BR. (conservative)

5. What are the average annual taxes for that
property? = $2,573 average annual taxes for 3 BR.

6. What are the current days on market? = Days
on Market is 71 days.

Area: West Norriton / King of Prussia, PA 19403

Unemployment rate: 2.75%

Ave Price of 3/1 houses: $225k

Ave rent of 3/1 houses: $1500

Ave Annual Taxes: $3000

Days on market: 90 days

A lot of inventory and rental is good.

1. Staten Island
2. Jan. 7,2013 8% and Jan.7,2012 9.7%
3.$410,000.00
4.$1745.00 to $2000.00
5.$4052.00
6.95 days.

I hope you consider this beautiful area of Westerleigh. This is not a flood zone and a beautiful middle income family neighborhood. I would love to get this position because I enjoy learning your real estate techniques. I am a registered nurse and a two time cancer survivor. Just the thought of this position puts a greater smile on my face. Thank You.

Its Jason Kirby here
Thanks dean and all the team for everything. You guys are the best!

1.Nashville TN
2.unemp rate now 8.7 was 9.4
3.125,786-153,238 for 3 bed 2 bath
4.rents 978-1359
5.taxes 1224-1533
6. dom 80

p.s. dean keep the ipad, just getting a chance to work with you and your team is priceless.
Hope to hear from you soon take care.
Jason Kirby

1.New Haven Connecticut

2.14.4% in January 2011. The current unemployment rate for New Haven is 12.2% in September 2012

3.Avg sale price 3Br $123,000

4.Avg rent $2200

5.Avg yearly tax $2000

6.Days on market 45

1.New Haven Connecticut

2.14.4% in January 2011. The current unemployment rate for New Haven is 12.2% in September 2012

3.Avg sale price 3Br $123,000

4.Avg rent $2200

5.Avg yearly tax $2000

6.Days on market 45

1. Lynnwood, WA

2. Current unemployment is 7.5%
Rate 12 months ago was 8.6 percent

3. Current average cost of 3 bedroom is $230,000

4. Average rent is $1850

5. Annual taxes are $2364

6. Current days on market is 100