armando montelongo: America’s Emptiest Cities: High Vacancy Rates
- 08/08/12 04:14 AM
Vacant properties have increased 43.8 percent in the U.S. since 2000, according to the Census Bureau. CNBC reported recently there were 14.3 million year-round vacant housing units in the country, with a 10.6 percent gross vacancy rate. Orlando, Fla., had the highest rental vacancy rate, at 18.8 percent, according to the report. Dayton, Ohio, had the highest homeowner vacancy rate on the list, as 5.4 percent of homes there were unoccupied. Vacant homes are defined as either unoccupied rentals or homes that are unoccupied and for sale. Looking at vacancies is important for real estate investors seeking to identify housing trends. … (0 comments)
armando montelongo: The Montelongo Companies Weekly
- 08/07/12 05:33 AM
Our digital newspaper, the Montelongo Companies Weekly, compiles the best of our news, information and data into a handy form every Tuesday afternoon. Each item is clickable, so you can go through and see the original post and its graphics, or you can scan the headlines and summaries. It’s flexible that way. You also can see the images with each story by clicking on the “Society” link. You also are welcome to subscribe to the paper and get it via email every week, if you prefer. Please click here to see the latest edition.
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armando montelongo: Housing Snapshot: Miami
- 08/06/12 07:12 AM
The median sale price for a house in Miami rose year-over-year for the sixth month in a row in June, according to a new report. The DQNews.com report on South Florida showed the median price was up 25 percent from $120,000, the lowest point during the housing downturn. Prices still are 48.3 percent lower than at the peak of $290,000 in June 2007. Absentee buyers, a category that includes investors and vacation-home buyers, bought 40 percent of all homes in June. They paid a median $110,000. Examining statistics for local markets is vital for real estate investors who want to take … (0 comments)
armando montelongo: Looking at Vacancies for Insights into Housing
- 08/06/12 06:13 AM
The bloggers at Trulia Trends recently wanted to look at the number of vacant houses across the country, but found that the standard quarterly statistics from the U.S. Bureau of the Census were simply not adequate. So they came up with a clever solution that provides some insight: They studied monthly data from the U.S. Postal Service on the number of addresses that were and were not receiving mail on a regular basis. The USPS typically considers a property vacant 90 days after mail delivery to the address ends. Vacant housing is a big part of what is referred to as … (16 comments)
The book chronicles Armando’s rise from living in a garage and on food stamps to running a company that ranked No. 19 on the Inc 500 list of the nation’s fastest-growing enterprises.
Its unique format also includes Armando’s system for finding, funding, fixing and flipping real estate in 90 days or less.
In addition to demonstration that every successful real estate investor needs a mentor, “Flip and Grow Rich” also explains how to:
Sell in any market Make your money grow … (0 comments)
armando montelongo: Fannie, Freddie ‘Seriously Delinquent’ Rates Decline
- 08/03/12 05:51 AM
Fewer mortgages insured by Fannie Mae and Freddie Mac were considered seriously delinquent in June, the agencies reported. Seriously delinquent loans are defined as loans that are “three monthly payments or more past due or in foreclosure.” The Calculated Risk blog reported that the Fannie Mae single-family serious delinquency rate is at 3.53 percent, down from 4.08 percent from June of last year. It is at the lowest level since April 2009, according to the agency’s monthly report. The Freddie Mac single-family serious delinquency rate declined to 3.45 percent, compared to 3.5 percent in June of last year. These rates show … (1 comments)
armando montelongo: Rents Grow 5.4 Percent in Nation's Largest Markets
- 08/03/12 01:32 AM
Rents in the nation’s 25 largest rental markets rose 5.4 percent in the last 12 months, outpacing the rise in home values in those markets. Values in the Trulia Price Monitor rose just 0.3 percent in the same period (1.7 percent, excluding foreclosures). Rents rose in 22 of the 25 markets in the Trulia Rent Monitor, led by a 14.7 percent increase in San Francisco. The pace of increase also quickened when compared to the year-over-year changes in March. Finding markets where rents are rising is important to real estate investors looking for buy-and-hold properties. Below are the metro areas with … (0 comments)
armando montelongo: Residential Remodeling Projected to Grow 12 Percent
- 08/03/12 01:20 AM
Remodeling of residential properties could reach double-digit growth by the first quarter of 2013, according to a new report. The Leading Indicator of Remodeling Activity, compiled by the Remodeling Futures Program at the Joint Center for Housing Studies of Harvard University, projected a 12.2 percent growth in the four-quarter moving rate of change of the index by the beginning of next year. “By the end of the year,” said Eric S. Belsky, managing director of the center, “positive market fundamentals are expected to kick in, moving the industry out of this ebb and flow period and into a new growth phase.” … (0 comments)
armando montelongo: 3 Reasons NOT To Do Your Own Construction
- 01/26/11 04:37 AM
I was taking a look at this article today and it focused on the actual house flipper doing all the construction instead of hiring contractors. I would highly advice against investors doing their own construction. Even if you've been in the contracting business for 20+ years: let someone else do it. If you're serious about being a full time investor, here are the top three benefits of hiring someone else: 1. It'll save you stress from having to do the physical work yourself 2. It'll free up your time to go buy more properties to flip 3. It'll keep your … (2 comments)
armando montelongo: The Upside of Foreclosures
- 01/21/11 06:15 AM
Every time you turn around, you're hearing something negative about the economy, about the stock market and especially about the housing market. They say a lot of things...except the upside. Let me be clear, I am not saying that foreclosure is a good thing. It can be a terrible experience to the person it happens to. What I am saying is simply this: for the person or family who buys the home later at a much reduced price, it's a god-send. After you flip the house, you're still going to sell it for much lower than what it would have … (5 comments)
armando montelongo: FOCUS
- 11/16/10 03:36 AM
It’s easy to lose focus, especially when you’re reaching heights of success you may not be familiar with. However, remember: you are in the business of helping people. In my opinion, you have a moral obligation as a flipper. If you promise to help people and you deliberately let their houses go into foreclosure without making efforts to help them or pass those properties to other investors who can help, it’s ethically wrong. It’s also business suicide. You lose referrals and deals because you have no credibility. I always put my real estate business first, because that’s what created my wealth. Even … (1 comments)
armando montelongo: World Series of Poker
- 11/04/10 07:50 AM
Since I’ve been flipping houses, I’ve been blessed with a lot of advantages that I normally wouldn’t have. Like when I sponsored an Indy500 car, meeting all of the kick ass students at the bus tours and most notably of all, being part of “Flip This House“. Now I have the opportunity to sponsor a few players at The World Series of Poker!! I’m accomplishing my dreams and doing things that I never thought I’d be able to do because of my drive to succeed in real estate. YOU TOO can have the same success I’m having!!! I am driven to see YOU succeed! And … (0 comments)
armando montelongo: Armando Montelongo Still Flipping Houses?
- 08/20/10 03:43 AM
Am I still flipping houses? Does Ron Jeremy have a big…? You fill in the blank. YES. I am still flipping houses! I don’t understand where people got the idea that I’m not still flipping houses. I have decided to also dedicate myself to teaching others how I flip houses because I believe just about anyone can do it if they have the right education. Education is everything, especially in real estate where anything can go wrong if something isn’t done correctly. I love teaching others. I wouldn't be teaching if I didn't flip houses at the same time. … (3 comments)
armando montelongo: Sharing Knowledge
- 08/13/10 05:11 AM
Many of you have served others by raising great children, or by being a great parent, a loving wife or a caring husband. Understand that serving yourself to greater financial levels is totally OK. Give yourself permission to serve your finances. As you serve your finances, you will be able to continually serve others. Some people serve others but never serve themselves financially. As you begin to help yourself, the number of people that you help will grow. Sometimes we need permission to serve ourselves. Hereafter, you are granted permission. Give yourself permission. If you can't give yourself permission because you … (0 comments)
armando montelongo: Making Mistakes
- 07/26/10 04:48 AM
Be willing to make mistakes. The faster you make mistakes, the sooner you will reach your goal. 1. Set your ego aside. Your ego doesn’t want you to make mistakes and ultimately prevents you from getting started. 2. Know that you will make mistakes. 3. Relish your mistakes. This points the finger back at me. I was broke and on food stamps when i rode into town on my last tank of gas. I hung my head very low. But my prior failures have now become my calling card for success. People used to call me flaky; now they call me ambitious. … (2 comments)
armando montelongo: Rental and Commercial Properties
- 07/19/10 09:02 AM
Flipping houses can give you the cash to start. You do not have to buy rental or commercial properties until later. These types of investments require cash. They generate cash flow and wealth over the long term, but you also need cash to get them going. Here’s one rule of thumb: Only take on as many rental properties as you can afford. If the rental property mortgage is $1,000, and your tenants move out, can you comfortably afford the $1,000 payment? The problem is that people get stuck on the idea of finding great deals for rentals. They buy two or … (0 comments)
armando montelongo: Environment of Empowerment
- 07/16/10 05:15 AM
We’ve all heard that who you are is who you hang around with. But most people don’t realize that your money is also who you hang around with. If all you eat everyday is beef jerky, eventually you’re going to look like beef jerky. If all you put in your mind are old, dried-up negative thoughts, your brain will eventually be mental beef jerky. But if you’re putting healthy things into your body – vitamins, minerals, water, protein, complex carbohydrates – your body will look healthy. If you have friends and family who have positive mind-sets and make positive financial strides in … (1 comments)
armando montelongo: Myths and Facts of Flipping Houses
- 07/14/10 09:59 AM
To make money, you must have the right money mind-set. Here are the common myths about flipping houses – and the facts. Myth: I can’t buy houses with bad credit.Fact: Lenders lend to people who flip houses. They look at the deal, not the borrow. Myth: There are no good deals in my area.Fact: There has never been a better time to find great deals than now. There are always great deals if you know where to look. Myth: I have no business experience.Fact: Most people who run successful businesses started with no business experience. You can overcome the lack of experience with education. Myth: I have failed … (1 comments)
armando montelongo: Flipping Houses Illegal?
- 07/02/10 02:56 AM
There has been a lot of talk lately of people trying to convince the public that flipping houses is illegal and extremely dangerous. You know what I say? No freaking way!! Buying a home, rehabbing it and then selling, is as legit as it can get. There will always be risks involved, that’s why you continually educate yourself and make sure that you’re going about flipping a house the RIGHT way and not doing it with only the knowledge you’ve gathered from reality TV. While it’s fun to watch reality shows, like “Flip This House”. it won’t give you the necessary … (6 comments)
armando montelongo: Foreclosures
- 06/15/10 07:42 AM
People who face foreclosure can use help from investors. You can find homeowners facing foreclosure in several ways, including: 1. County records - The county releases lists of homeowners who are in default of their mortgage loans. In this case, the banks are foreclosing on them. 2. County tax assessor - The tax assessor releases lists of homeowners who have not paid property taxes for a length of time. The county is foreclosing on the property. 3. Competitors - Competitors sometimes refer homeowners who are in foreclosure. For various reasons, these competitors do not want to do the deal. Typically, such a person … (0 comments)
Vacant properties have increased 43.8 percent in the U.S. since 2000, according to the Census Bureau.
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