Dean Graziosi Weekly Wisdom #217 - Seeking Investor Area Managers

Matt/Dean:
There are quite a few places here that would prove excellent "cash cows", rather you want to "Buy and Hold" or "Profit Flip"... Illinois is a must.

1. Illinois, Chicago
Unemployment Rate 11/2012 @ 8.3%
11/2011 @ 9.5%
"Ashburn Park" area 60652

2. Average Cost 3 Bdrm SFH @ $115,000
3. Average Rent @ $1300
4. Average Taxes @ $1944
5. DOM @ 107

ALSO:

1. Illinois, Evergreen Park
Unemployment Rate 11/2012 @ 9.0%
11/2011 @ 10.8%
Zip Code 60805

2. Average Cost 3 Bdrm SFH @ $132,000
3. Average Rent @ $1400
4. Average Taxes @ $2939
5. DOM @ 73

We have followed your techniques to the letter, and with patience, we are on the way to closing our first deal at the end of the month. Thanks Dean! And Matt, thanks for all the additinal advice and direction... with you two, we have an unstoppable team!

Dean,

~Thanks for considering me for the Area Manager position. I am born and raised in Cleveland OH and there are fabulous opportunities here in Northeast Ohio. Northeast Ohio represents some of the largest cities in the Cleveland metropolis and suburban areas.

1. What city are you in?

Cleveland OH

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

7.9% in October 2012
9.5% in October 2011
11.4% in October 2010

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

Average cost in the Cleveland Metro area is $65,000.

Average cost in surrounding Cleveland suburbs is $150,000 to $250,000

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

Average rent of homes in the Cleveland Metro area is $850 per month.

Average rent of homes in the Cleveland suburbs is $1200 to 1500 per month.

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

Average annual taxes for a Cleveland metro home are $650 per year.

Average annual taxes for homes in suburban Cleveland are $900 per year.

6. What are the current days on market?

Currently, the average days on market throughout the Northeast Ohio area is 122 days.

Thanks!

1. We live in Canton michigan in the Metro Detroit area. Since we live in the heart of the automobile industry our area was hard hit during the recession. The automobile industry is recovering and they are adding jobs locally. http://www.milmi.org/

2. What is the current unemployment rate and what was it 12 months ago?
The current unemployment rate is 8.9%, -0.7 over year, rebounding from 16% in 2009.
Michigan Unemployment Rate
(Seasonally Adjusted)

November 2012 8.9%
Change Over Month -0.2
Change Over Year -0.7
Answers for 3. 4. 5. and 6 are for 5 zip codes in the area. I can give you information for additional zip codes if needed.
Questions:
3. What’s the current average cost of 3 bedroom house in your area?
4. What’s the average rent for that same house?
Livonia $
5. What are the average annual taxes for that property?
6. What are the current days on market?

Answers:

Livonia Michigan since 09/01/2012
Sales report:
Sold Listings: 382 sales with average Sold Price of: $134,643 and Average DOM: 70.44
Off-Market Listings: 117 Average List Price: $129,094 Average DOM: 66.00
All Properties
Total Listings: 499 Average List Price: $135,993 Average DOM: 69.40
Rental Report
Sold Listings: 58 Average rental price: $1,298 Average DOM: 23.62
Off-Market Listings: 3 Average list Price: $1,483Avg DOM: 33.67
All Properties Total Listings: 61 Average list price: $1,323 Average DOM: 24.11
Average taxes for Livonia are $2,300 annually.

Farmington Michigan since 06/01/2012
Sales report
Sold Listings: 59 Average Sold Price: $149,904 Average DOM: 90.80
Off-Market Listings: 7 Average List Price: $161,171Avg DOM: 171.71
All Properties
Total Listings: 66 Average List Price: $154,594 Average DOM: 99.38
Rental Report
Sold Listings: 9 Average rental sold price: $1,455 Average DOM: 42.22
Off-Market Listings: 1 Average rental list price: $1,300 Average DOM: 30.00
All Properties
Total Listings: 10 Average List Price: $1,430Avg DOM: 41.00
Average taxes for Farmington are $3,500 annually.

Farmington Hills Michigan since 06/01/2012
Sales report
Sold Listings: 393 Average sold price: $201,891 Average DOM: 88.21
Off-Market Listings: 60 Average list price: $201,222 Average DOM: 71.72
All Properties
Total Listings: 453 Average list price: $205,549 Average DOM: 86.03
Rental report
Sold Listings: 74 Average sold Price: $1,917 Average DOM: 32.78
Off-Market Listings: 5Average list price: $2,020 Average DOM: 106.20
All Properties Total Listings: 79 Average list price: $1,941Avg DOM: 37.43
Average taxes for Farmington are $4,500 annually.

Wayne Michigan since 06/01/2012
Sales Report
Sold Listings: 89 Average sold price: $42,863 Average DOM: 68.83
Off-Market Listings: 23Average list price: $52,965Avg DOM: 62.39
All Properties
Total Listings: 112Avg List Price: $46,214Avg DOM: 67.51
Rental Report
Sold Listings: 14 Average rental price: $937Avg DOM: 51.86
All Properties
Total Listings: 14 Average list price: $930 Average DOM: 51.86
Average taxes for Wayne MI are $2,300 annually.

Westland Michigan since 06/01/2012
Westland has a large variety of areas Lowest sale price was 13000 highest was 231000
Sold Listings: 387 Average sold price: $79,696 Average DOM: 83.26
Off-Market Listings: 77 Average list price: $79,760 Average DOM: 68.13
All Properties
Total Listings: 464Average list price: $80,973Avg DOM: 80.75
Rental Report
Sold Listings: 34 Average sold price: $1,167 Average DOM: 36.00

Scott Shepard

Dean & Matt,
I want our team to be your next Area Rep Partners! Give us a chance to prove the system works in Minnesota! Here are the stats for where I live...

1. City: St. Michael, MN
2. Unemployment Rate: 2013 5.6% 2012 7.8%
3. Average List 3 Bed $180,000
4. Average Rent 3 Bed $1198
5. Average Taxes $2,256
6. Average days on market 45

Let's make some $ together and further satisfy our Level 7! We are looking forward to your call. K

1) City: El Paso, TX

2) Unemployment: Current: 8.7%, One year ago: 10.1%.

3) Average cost: New: $149,048, Resale: 124,049.

4) Average rent: $1,046 (based on a sample of 20 homes).

5) Average annual taxes: $3,300

6) Days on the market: New 126 days, Resale 79 days.

I hope you seriously consider El Paso!

1. Bastrop Tx.
2. Current unemployment rate (as of Oct. 2012)6.2%; In Dec,2011 it was 6.4%
3. Avg. cost of 3 bedroom house = $130,000
4. Avg. rent = $900.00/mo.
5. Avg annual taxes = $2,800
6. Current dom = 90

I live in Bastrop but I work in Brenham Tx wish is right next to Teresa in
1. Bryan/College Station, TX
2. Current unemployment rate (as of Oct. 2012)-5.6%; In Dec,2011 it was 6.4%
3. Avg. cost of 3 bedroom house = $133,950
4. Avg. rent = $1095.00/mo.
5. Avg annual taxes = $3,000
6. current dom = 90

I think our area would be great for you guys to invest in! It's a college town, home of Texas A&M University so wile Teresa is renting out rooms to all the college students I will be a half hour away in brenham Tx a manufacturing town renting out not the houses but the ROOMS out for a little more income by renting out rooms to all the employees who live out of town that just need a room not a house to rent. Which is also half hour from Houstin Tx. Think about it.

1) St. Clair Shores, Mi.

2) Current unemployment rate - (As of Nov 2012 - 8.9%),(12 months ago, Dec 2011 - 9.3%)

3) Avg cost - $125,000 (3 Bedroom house)

4) Avg rent - $1050 (rent/mo.)

5) Avg taxes - 2300/Annually

6) Avg DOM - 180 days

Thank you Dean and Matt! Looking forward to possibly working with you both!

Anthony

1. What city are you in? Lake Mary & Sanford (32746 and 32771, respectively). (I am in between cities which may be determined by a stop-sign, which is why I put both. Great houses and prices and best places to live and work in Florida. Only 30 minutes from Orlando and major cities)

2. What is the current unemployment rate and what was it 12 months ago? 8.9% a/o Dec 2012. It was 12% on 1/12/2011.

3. What's the current average cost of 3 bedroom house in your area? $89K to $175K depending on DOM.

4. What's the average rent for that same house? $1,135

5. What are the average annual taxes for that property? $1500

6. What are the current days on market? 130

Lake Mary was rated in the top 100 cities to live in and only 30 minutes from Orlando and main cities. Recreation is one thing, but jobs keep Lake Mary humming. Since 2000, it has had a population growth of 3.66 percent. Median home cost is $163,800. Home appreciation the last year has been 0.49 percent. Luxury homes in Lake Mary are being made affordable.

Sanford has a higher foreclosure rate. Houses are less expensive due to high foreclosure, but of great quality. Sanford is neighboring city to Lake Mary.

Thanks in advance for considering me.

Best regards!

~Audrey

Chicago suburbs and NW Indiana Suburbs
I have my neighbor hood of Alsip, Il 60803

Unemployment rate 9.3 in 2012

Average 3 bedroom house $140,000 1500sq.ft.

Average rent $1350.00

Average tax $3500.00

Average days on market Approx 290

There are several neighborhood in this area like this.
I know a guy (i won't call him an investor because he takes advantage of people) in the area with over 65 lease options in my surrounding area. There is plenty of options out here.
Thank-you Dean And Matt.
The November Summit was awesome,
Thanks again,
John

1. Anchorage, Alaska 2. Current unemployment rate 5.3% & year ago 6.3% 3. Current average cost of 3 bedroom home $252,269.00 -$265,929.00 4. Average rent 3 bedroom home $1,800.00 5. Average annual taxes $3,660.00 - $4,083.00 6. Current days on the market 114

City = El Paso

Unemployement Rate = 10%(current) 9.6%(last year)

Average Cost / 3BD House = $131,139

Average Rent = $900

Average Annual Taxes = $3,059.91

Avg DOM = 102 days

Somebody please give me a break..."just one-time"

I invite you into our area.

1) City is Port St Lucie, FL
2) Current unemployment rate: 9.4% in Oct 2012, down from 12.9% in Nov 2010
3) Average cost of 3 bedroom house is $122,000
4) Average rent $1,100/month
5) Average annual tax $2,000/yr
6) Current days on market is 92 days for houses sold in Dec 2012 having prices between $110k-$140k

Regards,
Doug

Dean this is fantastic, and takes away any doubt that this is te time to get involved and take action. I live in the Salt Lake City area and would be thrilled to be closer connected with you and your real estate investing techniques.

Im in on this one Dean and will get the homework assignment finished and posted soon. Thanks for you and Matt for all you do on DG.Com
Keep the great stuff coming.

Phil Lully Fruit Heights, Utah

1.City: Lawrenceville, GA.

2.Unemployment rate: Current 11.2%/12mo.13%

3.Current avg 3 bed house: $85K

4.Average rent: $1,500

5.Average Prop tax: "Incorporated" 2.75%/$935

6.D.O.M: 120

Here's what you need...

San Angelo, TX 76903
Current unemployment rate is 4.9%
12 months ago 5.8%
Average cost for a 3 bdrm house is $144,000
Average rent for a 3 bdrm house is $890/month
Total estimated taxes of $144,000 is $3340.93
Current "days on market" for zip code 76903 is 118 days.

Ok Dean and Matt, I just completed the PMI Education Center online course 3 days ago. I'm ready to put it to use, so I can retire from the school district. Looking forward to hearing from you,soon! YES?

Colorado Springs,Colorado
Current unemployment rate is 5.7% down from 6%
Average 3 Bedroom House is 145.000
Rent is $694.00
Annual taxes $564.00
Current days on the market is 61 day's

Here is some info:

1.City: Miami, Fl
2.Unemployment rate:2010=10.9%
2011= 9.8%
3.Average cost 3 bdm house: $ 200,000
4.Average rent:$ 1700
5.Average property taxes:$3000
6.Current days on the market:60/90

Market is going up like crazy, tough times financing, too many investors, too much cash around,good bargains.

Here are the six questions to answer:
1. Newnan, GA
2. Currrent unemployment rate is 8.6% and it was 9.6% 12 months ago.
3. Average cost of a home $85,000
4. Average rent for the same home is $1000?
5. What are the average annual taxes $900
6. 30 days or less.

Newnan GA is a fast growing family oriented city. The housing numbers vary.

These numbers are subject to change. And the answers above are only an estimate. But I hope it helps and gives you an idea of what you can possibly rent a house for. I personally think it's a great place to invest. Thanks DG!

1. Groton, MA
2. UR: 4.9% now - 6.2% 12mos ago
3. $379,000
4. $2,050
5. $6,386
6. 100 dom

The area is prime for this market, would be great working with the DG team and fulfilling my 2013 plan to gain financial stability for my family. Happy hunting!
Cheers,
JG

Columbus, Ohio

1. Current unemployment rate 5.5%. 12 months ago 7.3%

2. Avg cost 3 Bed $110,323

3. Avg rent $800.00

4. Avg. taxes $1,600.00

5. DOM 76

1) City: El Paso, TX

2) Unemployment: Current: 8.7%, One year ago: 10.1%.

3) Average cost: New: $149,048, Resale: 124,049.

4) Average rent: $1,046 (based on a sample of 20 homes).

5) Average annual taxes: $3,300

6) Days on the market: New 126 days, Resale 79 days.

I hope you seriously consider El Paso!

Alameda County, Castro Valley,CA

Unemployment rate-8.6% last 12 months-9.60%

Average costs-3 bedroom-$412K

Average Rent-$1,200-$1500

Average tax rate-8.75%

Current days on the market-103 days (trulia.com)

1) Missouri City, Texas 77459
(2) Unemployment rate: currently 6.76%, down from 7.48% a year ago
(3) Average cost of 3 bed house in 77459: $188,000
(4) Average rent for those same 3 bed houses: $1,650/month
(5) Average tax for those same 3 bed houses: $5278/year
(6) Current DOM in this area: 41.

The income per capita in Missouri City is 50.8% greater than the Texas average and 35.5% greater than the National average. The median household income in Missouri City is 85.6% greater than the Texas average and 75.1% greater than the National average. The median household income in Missouri City for owner occupied housing is 82.3% greater than the median household income for renter occupied housing in Missouri City.

1. What city are you in?
DFW Area/Dalla Tx.

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

Unempl Rate Nov 2012 Month/Month Year/Year
National 7.8% -0.1 -0.8
Texas 6.2% -0.4 -1.4
Dallas 6.1% -0.3 -1.4

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

The median sales price for homes in Dallas TX for Sep 12 to Nov 12 was $72,000. This represents an increase of 4.5%, or $3,077, compared to the prior quarter and an increase of 8.1% compared to the prior year. Sales prices have appreciated 3.6% over the last 5 years in Dallas. The average listing price for Dallas homes for sale on Trulia was $508,807 for the week ending Dec 26, which represents a decline of 1.2%, or $6,421, compared to the prior week and a decline of 1.4%, or $7,007, compared to the week ending Dec 05. Average price per square foot for Dallas TX was $60, an increase of 3.4% compared to the same period last year. Popular neighborhoods in Dallas include Preston Hollow, Oak Lawn, Far North Dallas, North Dallas, M Streets, and East Dallas.

Nearby Cities
Cities Median sales price Average listing price

Farmers Branch $108,698 $187,868
Mesquite $70,852 $109,176
Duncanville $80,000 $140,507
Irving $93,040 $354,898
Balch Springs $73,600 $103,490
Lancaster $73,600 $113,761

4. What’s the average rent for that same
house?
$800 - $1200

5. What are the average annual taxes for
that property?
$1900

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

Martin Marilyn

‎1. Chicago
2.Cost of 3 Brm House in 60625 area is 363,108
3. Average rent is 585.00 to 2,500.00 mo.
4.Average yr. taxes 3,000.00
5. Days on market under 130days.

1. This city is Kyle, Tx.
Located just 22 miles from Austin, Tx - a short
26 - 30 min commute for a great many people.
2. The current unemployment rate is 4.3%, which is
an improvement over 5.1% from a year ago.
3. The average price of a 3 bedroom house in Kyle
is $131738.
4. The average rent for this 3 bedroom house is
$1278 per month.
5. The average taxes for this 3 bedroom house are
$3263 per year.
6. The current average days on market for this same
3 bedroom house is 52.

Kyle Tx is a hidden treasure in central Texas that is right in the middle of the Austin - San Antonio corridor. Kyle has a new hospital, new shopping centers with major anchors such as Target, Walmart, Kohl's, Lowe's, & Home Depot, as well as it's close proximity to the San Marcos Premium Outlets.

Here is a quote from Kyle mayor Lucy Johnson:
“The City of Kyle is growing responsibly and sustainably,” said Johnson. “We are adding good, wage earner type jobs, providing quality city services at affordable rates, great schools through the Hays Consolidated School District, and offer an ample supply of available housing options that can fit into most budgets. We are a great place for your family, for career, and your business, and we invite everyone to come to Kyle and see what others have already discovered here.”

I think it would be a great place for the DG family to come in and establish a major presence.
Of course, I will be there to help lead the way.

1) Colorado Springs, CO (I'm actually between Denver and Pueblo which are also great cities to buy

2) Unemployment rate in 7/12 was 9.8 now is 8.8

3) Average cost for 3b2b is $140,000 (there are also VERY expensive areas)

4) Average rent is anywhere from $1000 to $1300

5) Average taxes are only $718 a year

6) Average days on market is 90

Hey Guys!

LOVE the info you guys put out! Simply amazing. Loving your book, Dean! I'm currently in CT, but I will be going back to LA, CA soon!

Here are my answers:

1. West Hartford (if you prefer that I manage another city in CT, let me know)

2. Unemployment: Oct 2012 7.6%
Oct 2011 7.0%

3. Current Avg Cost of 3BD (avg of 2000sq ft)
$320k

4. Avg Rent for same house: $2000

5. Tax $9241

6. 133 DOM

1.Columbia, MO

2.unemployment as of Oct 2011 5%- Oct 2012 4.3%.

3.average cost of 3br $225,000.

4.$700

5.90

What city are you in? Garden City Mich.

2. What is the current unemployment rate and what was it 12 months ago? 8.9 now was 9.2

3. What’s the current average cost of 3 bedroom house in your area?60,000-120,000

4. What’s the average rent for that same house?700.00-1300.00

5. What are the average annual taxes for that property? 2800.00

6. What are the current days on market? 60