Is it TOO LATE to “make bank” in the NEW SILICON VALLEY? | Episode 49

Real Estate Investing Today : Real Estate Investing | Wholesaling | Flipping | Funding | Self Directed IRA | Finding Deals | Real Wealth

Are you missing out on the opportunity to invest in a NEWSILICON VALLEY? I’ve got the details on this hot market (and howmuch higher it might go) in today’s episode. I’m Carole Ellis. Thisis Episode 49. Did you miss the boat on investing in the nation’s “New” SiliconValley? Welll, let’s just say if you’re not equipped to take out ajumbo mortgage on an investment property, then you might have toget a little creative to participate. I’ll give you all the details– including the location – in just a minute, but first, I’ve got anexciting announcement: REI Today is now on Twitter! Get updates,pictures, fun and sometimes weird real estate facts and MORE ACCESSto my guests by heading over there right now (www.REI.Today/Twitter) and following me! And you knowI’ll follow you right back, so let’s build your real estate networktogether. Remember, your net worth directly correlates to yourNETWORK, so take this easy step right now. That’s www.REI.Today/Twitter. You’ll love it.Now, back to the New Silicon Valley…We all know the west coast is hot, but usually when we think ofboiling real estate prices we tend to think about San Francisco,Los Angeles, San Diego, all of those California mega-hot marketsthat are always in the news. However, there is another seriouslyhot market out west, and it’s a bit farther north than the rest.The cooler temperatures aren’t affecting the real estate market,though, and some experts are actually suggesting that the metroSeattle area could be the next Silicon Valley. They’re actuallycalling it Silicon Seattle. Here’s why:Technology workers and companies are moving to Seattle indroves. While the market is definitely hot (prices rose 9.5 percentlast year alone), it’s still far less expensive than other westernmarkets like San Francisco, but it’s on the right coast, and that’senough for a lot of companies and their workers.Jumbo lending in the area is on the rise. One of the best waysto identify a potentially hot tech market is to watch the volume ofjumbo mortgages being applied for an approved. IT workers make goodmoney, and lenders tend to like to approve their home loans fortheir huge houses when they follow their companies to newlocations. Last year, Bank of America reported a 20 percent jump injumbo lending volume in Seattle, with most applicants citing techcompanies as their employers.There has been an influx of highly qualified international ITworkers on work visas into the area. Frequently a sign of rapidlygrowing technology market.So how can investors in this type of market compete when housingis already in such high demand? Well, if you don’t have $20,000 topay off a buyer with an accepted offer so that they’ll walk awayfrom the deal you want and leave you to buy it, OR the funds to upyour earnest money to, say, 15 percent of the home’s total value(yes, these things are really happening!) there are other ways toget good deals on properties in this hot market.Probably the best way is to take your deal search off-market(meaning find sellers who are in an unusual situation where they’dlike to just sell fast and for a discount, even if the market ishot), using a variety of tools employed successfully by real estateinvestors in every single market in the country. Want a list ofthese off-market methods? You know I’ve got it locked up tight foryou in the REI Today Vault! Check it out right now at www.REI.Today/Vault, and if you’re not a member yet,just text REITODAY no spaces no periods to 33444 and I’llimmediately ALSO provide you with fast, immediate access toall sorts of great trainings, news coverage, interviews, and lotmore timely information that will help make your investing safer,faster, and more profitable.And remember, when you do that, you’ll also be able to GROW YOURNETWORK by interacting with me and your fellow listeners to REIToday… so stop by to ask questions, make comments and network withother investors across the country. Text REITODAY no spaces noperiods to 33444 or head over to www.REI.Today/Vault right now.REI Nation, thanks for listening in and always rememberthis:Your best investment is your own education.

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