Rental Housing Journal Colorado
July 2015 - Vol. 7 Issue 7
2. Ask the Secret Shopper 3. Behind the Leasing Desk
www.rentalhousingjournal.com • Professional Publishing, Inc
DENVER • COLORADO SPRINGS • BOULDER
Monthly Circulation To More Than 7,000 Apartment Owners, Property Managers, On-Site & Maintenance Personnel
Market Overview & Multifamily Housing Update 1Q15 Denver, Colorado
Professional Publishing, Inc., PO Box 6244 Beaverton, OR 97007
PRSRT STD US Postage PAID Sound Publishing Inc 98204
1Q15 PAYROLL TRENDS AND FORECAST The BLS’s annual benchmark payroll revision exercise was very generous to Denver this year, upgrading 2014’s job creation totals from an initial estimate of 36,300 to 47,400. This strength carried over into the New Year as first quarter growth clocked in at a 50,200-job, 3.8% annual rate, up from 4Q14’s robust 46,700-job performance and the largest onequarter gain recorded since 3Q00. Solid headcount gains were posted across industries led by the health care and construction sectors, which combined for growth at an astounding 21,100-job, 9.4% rate. There is some evidence of a slowdown in the energy sector, but related cuts were unlikely to have exceeded a few hundred net jobs. Seasonally-adjusted data were healthy but suggest that a moderate slowdown is in the works. This series recorded only a 7,200- job net gain in the January—March period, down continued on page 5
M
Real Estate: What’s In It For Me? Pt. 1
any people are interested in real estate, but don’t really know much about it. They know that it seems that a lot of people have made a lot of money in real estate (or achieved other goals using it), and they wonder if maybe there could be something in it for them, too. National REIA wants to help you understand a little more about the real estate business and real estate investing. We’ve developed this report so you can get an overview of multiple investing strategies and determine whether any of these areas of real estate business or investing sound interesting to you. All of the
strategies in real estate we cover in this report are actually used by REIA members. When you join us at a monthly meeting you can talk to us and learn even more. Here are some areas of real estate discussed in this report: • Landlording • Wholesaling • Rehabbing/Retailing (Flipping) • Discounted mortgages and notes • Private money and hard money lending There are many more things you can do in real estate, including being a real estate agent or broker, an appraiser, or a home inspector, and
buying/selling on creative terms. Although these are beyond the scope of this report, we at REIA would be happy to discuss these with you as well. Real Estate Business vs. Real Estate Investment Is real estate a business, an investment, or both? The correct answer is “Yes.” The “business” of real estate is generally referring to an ongoing, hands-on strategy. This is usually done using techniques like wholesaling, retailing, and flipping (buying/rehabbing/selling)
continued on page 8
How Extreme Self-Confidence Can End Up Working Against Entrepreneurs
More Introspection Is Needed For Long-Term Business Success, Says Former Naval Officer and Business Leader
T
he entrepreneurial spirit may be taking a hit these days.
Studies show members of the Millennial generation appear less interested than previous generations in starting their own businesses, preferring instead to find work with established companies. In 1989, 11.6 percent of households headed by someone younger than 30 held a stake in or owned a private enterprise; today that percentage is 3.6 percent, according to a recent Wall Street Journal report. Randy H. Nelson finds that troubling, but perhaps understandable. “The statistics show the odds of success for a new business are pretty dismal,” says Nelson, author of the continued on page 4
Advertise in Rental Housing Journal Colorado Circulated to over 6,000 Apartment owners, On-site, and Maintenance personnel monthly. www. rentalho usingjo urnal.co m
Call 503-221-1260 for more info.