BrokerIPTV Real Estate News and Videos

BrokerIPTV: Today we are talking with Chris Lattimer, President of the Lattimer Group. Chris, welcome to the show. Glad you are here.

Chris Lattimer: Thanks Dan.

BrokerIPTV: Tell us what the Lattimer Group does?

Chris Lattimer: Well, we are a real estate investment company and we work with investors to pool resources together and invest in real estate. Our main objective is to offer investors preferred returns and then to meet or exceed those expectations. Currently, today we have got three strategies that we like to invest with. First is multifamily properties, acquiring existing properties, looking nationwide for emerging markets. Second, we like the transit oriented development concept. Then last, because there are a lot of great bargains out there in the single family home market, we are looking to get medium priced homes at 70% of market value and we like the exit strategy of lease options.

BrokerIPTV: Oh, really? How long on that lease option?

Chris Lattimer: We are figuring we are going to need a good year. Well, a couple of years, but I think we need about a year to see some nice recovery in the market and the sooner we can get out of these options, the better. The one thing, the one big factor there is is the financial markets.

BrokerIPTV: Since you brought up the topic of recovery, I mean are you starting to see Colorado, Denver starting to stabilize or maybe... the question everybody has is have we hit the bottom?

Chris Lattimer: Yeah, it's an interesting question, because there is a national question and there is a local economy question.

BrokerIPTV: Correct. Yeah.

Chris Lattimer: As a real estate investor, the local economy is definitely factor and the Denver market is looking really good.

BrokerIPTV: Okay. Now, who are you targeting with this information? I mean what's the demographic of your customer?

Chris Lattimer: Well, it is more of why we are targeting. It is really we are looking for these markets so that we can acquire assets within these markets and be able to see the appreciation of our asset within this appreciating market as for the benefit of our investors.

BrokerIPTV: So everybody who is watching is saying, Chris, tell me one of those emerging markets right now? They want some free information? [laughter]

Chris Lattimer: And we tried a couple, in the first phase markets that we are looking at, but I don't want to mention those quite yet, but in the fourth phase, there is a really good market, it is Boise, Idaho.

BrokerIPTV: Oh really?

Chris Lattimer: Yeah. It is a great market. It has been relatively unaffected by the recent downturn and it has been emerging, that's why it is in the fourth phase. It has been emerging for a couple of years now, but we feel, there is still a lot of... a good couple of years left in that market. The main thing that is driving that market is technology, businesses - technological businesses are coming into area driven by a highly educated workforce.

BrokerIPTV: Let's take Boise for instance. Say I want to go invest over there. What are my benefits, what are my risks?

Chris Lattimer: Well, the benefits are that if you are looking at the conditions nation wide, the economic conditions, you are able to get into an appreciating market. So, you want to put your money into a market that is appreciating, that's the benefit. The risk is you have an out of state asset, so you have to... particularly, if they are multifamily, we are diligent about having good property managers in there and then staying on top of those property managers to manage this out of state asset.

BrokerIPTV: Chris, great information. Thanks for being with us. Appreciate it.

Chris Lattimer: Yes. Thank you.

BrokerIPTV: Today, we are talking with Chris Lattimer, President of the Lattimer Group. Chris, thanks for being with us, appreciate that.

Chris Lattimer: Thank you Dan.

BrokerIPTV: Quickly again, the Lattimer Group does what?

Chris Lattimer: We are a real estate investment group that pools resources working with investors, so that we can invest in real estate. Our main objective is to offer preferred returns and then meet or exceed those expectations. Strategies that we like to use today are multifamily properties in emerging markets. Second is transit orientated development. Then finally, discounted single family homes.

BrokerIPTV: I want to focus in on this segment is TOD, Transit Oriented Developments; tell people what a TOD is?

Chris Lattimer: Yeah, TOD - Transit Oriented Development is development thats located within a certain proximity of transportation, public transportation systems, hubs or stops.

BrokerIPTV: Like a light rail.

Chris Lattimer: Like a light rail, yes.

BrokerIPTV: Okay. What specifically does your group do with TODs?

Chris Lattimer: We are really excited about the Denver metro market. The RTD FasTracks coming in, due to be completed in 2015. So, we are looking within a half mile radius of the future stations and we like urban infield, mixed use, high density development.

BrokerIPTV: So, are you talking to your investors now about purchasing land or properties in these areas where RTD FastTracks is going to be completed? Is that kind of the thought?

Chris Lattimer: Yes, absolutely. With the projection 2015 completion, it's actually a really good time right now to get in and get in before there is speculation, give us enough time to go through the entitlement process, get the construction completed, and up and running by time the trains are running.

BrokerIPTV: Now, this must be attracting a lot of attention with the price of gas. I got to believe that the public is getting more and more aware of public transportation and housing in relation to public transportation?

Chris Lattimer: Yeah, high gas prices is part of the number one driver for the popularity of TOD, there is big popularity, and there is big demand for this type of development. A couple of other factors that are driving the demand is global warming and just traffic congestion. I think people are getting really tired of traffic congestion, which is being spurred by the lack of funding in our transportation systems today.

BrokerIPTV: Now I hear more people are using mass trans than ever before. I mean you just turn on the news locally and you hear the problems of RTD and what RTD wants to do and expand. Are you hearing that the same?

Chris Lattimer: Yeah, absolutely. I read an written article last week, that most of the metropolitan area transportation systems have seen a significant increase in ridership in the last year. So, it is definitely increasing and I see that trend continuing.

BrokerIPTV: Okay. Thanks. Appreciate it.

Chris Lattimer: All right. Thanks Dan.

BrokerIPTV: Good information.

Chris Lattimer: Alright.

Alternatives to foreclosures, short sales and land trusts

Mark Eibner BrokerIPTV: Well, we are here today with Jonathan Goodman with Frascona, Joiner, Goodman, and Greenstein and as always John, it is a pleasure to have you here in BrokerIPTV.

Jonathan Goodman: Thank you Mark.

Mark Eibner: And one of the subjects I called you up to talk about... we all have heard a lot of things about foreclosures and what I am really seeing a lot of as a broker is short sale transactions or short pay off transactions and I know all the brokers have heard about them, but maybe you can explain to us really what is a short pay off from legal lingo? What is a short pay off transaction? <more>

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Amy Sheflin talks about using your IRA to puchase real estate and grow your wealth

BrokerIPTV: We are talking today with Amy Sheflin from The Entrust Group and Amy thanks for being with us, appreciate that. Tell me a little bit about The Entrust Group, what do you do? 

Amy Sheflin: Well Dan, The Entrust Group was founded in 1981, so we have been around for over 25 years now. We are a nation wide network of 30 offices across the country and we are a self directed retirement administrator. Now, what that means is that we allow people to invest their retirement plan in anything that the IRS allows. So not just securities, not just stocks, not just bonds, but also go bullion, private stocks, and real estate.

BrokerIPTV: Okay. So, we are talking about maybe some alternative ways today in which you can use your retirement to buy real estate? 

Amy Sheflin: Absolutely.

BrokerIPTV: All right. Give me an example of how I would buy real estate with my 401k? 

Amy Sheflin: Okay. The first step is to call the person who currently administrates your 401k plan. You need to ask them if they allow you to buy real estate with your 401k. 

BrokerIPTV: Some do and some don't? 

Amy Sheflin: That is correct. 

BrokerIPTV: Okay.

Amy Sheflin: So 99 times out of a hundred the answer is going to be no, and that is where Entrust comes in. So, the first thing you need to do if you would like to buy real estate is create a new retirement plan, one that allows you to hold real estate, roll that same money over into that new account. 

BrokerIPTV: Is there penalties for doing that? 

Amy Sheflin: Absolutely not. 

BrokerIPTV: Okay.

Amy Sheflin: It still retains all of the tax deferred advantages of your previous retirement account and that is when the fun begins, that is when you get to go shopping.

BrokerIPTV: Really?

Amy Sheflin: That is when you head out on the market, find that property that is going to make the right deal to help you grow your wealth as quickly as possible. Definitely call our office if you happen to be using us. It is good to just keep yourself educated along the way. There are a couple of things you need to be aware of: for one, you are not buying the property personally. Your retirement plan is buying it. So, from the time that you write that escrow check, make the offer, sign the paperwork, right from the beginning that needs to be the way that it is set up to keep that tax deferred protection in place.

BrokerIPTV: All right. Can this be done with any type of retirement account - Roth IRA, SEP?

Amy Sheflin: Absolutely. We can accept rollovers from any type of retirement account. The important thing to remember is if you are starting with a Roth, you want to open a self directed Roth because you have already paid the taxes on that and you don't want to do it again.

BrokerIPTV: How many people are doing this right now?

Amy Sheflin: I can't give you an exact number on that. What I can tell you is that it is the fastest growing segment of the IRA investment industry. The Entrust group has over 21,000 accounts now and over three billion in assets, so a lot.

BrokerIPTV: Amy, thanks. Great information. I really appreciate it. 

Amy Sheflin: Thank you Dan.

Eric Sachs of Infinity Group Realty  elaborates on the core of their company and real estate investment in Costa Rica.

BrokerIPTV: We are talking today with Eric Sachs, owner and broker of Infinity Group Realty and welcome.

Eric Sachs: Thank you

BrokerIPTV: Thanks for being here. Talking about an interesting topic today, which is Costa Rica, you guys have jumped into the Costa Rica market, but before we go there, tell me about Infinity Group Realty?

Eric Sachs: Infinity Group Realty is a locally owned office in Fort Collins, Colorado. My business partner, Nathan Froelich and I both worked for other companies in the past and about two years ago, we wanted to open a company that based itself around it's agents rather than some other ideals that we were working for in the past. We currently have 20 agents in Northern Colorado, an office in South Denver with three agents, and an office in Costa Rica. 

BrokerIPTV: All right. Why Costa Rica and why now? Because there is a lot of different resort area, second home, vacation home areas that you could pick? 

Eric Sachs: Right. Costa Rica right now is one of the top real estate markets in the whole world. We are seeing anywhere from 30% appreciation per year and up. It is a titled real estate property, fee simple ownership, much like the United States. A lot of the second home markets in the world are not titled ownership, not similar ownership to how you see here and we really love that facet of the Costa Rica market and it is booming right now. We fell in love with the country. We love the country. There are many places that you can find the inventory in Costa Rica. You can find it. You can Google Costa Rica real estate. There are local real estate companies throughout Costa Rica. There is no multiple listing service in Costa Rica. So, you do need to be careful. You see lots of different prices for lots of different homes. So, you need to know what you are looking at. Our website has lots and lots and lots of listings, but you really can find them any where on the Internet. 

BrokerIPTV: Is that scary though because the picture looks like it's five star and when you get there, it is really a crash shack? 

Eric Sachs: You know, the answer is yeah. It is scary. You do need to do your research. You need to know who you are working with in Costa Rica. You need to work with a reputable company. There are many, many good companies in Costa Rica and you just need to know who you are working with and I recommend to agents that I talk to that you go to Costa Rica. If this is something that you are going to make not just one or two transactions a year, that you want to make this part of your business, and you want to put it in your toolbox, take a vacation, go spend 10-14 days in Costa Rica, and understand what the country is about and what the real estate market is about, and it will relax your fears of that.

BrokerIPTV: And you might just relax.

Eric Sachs: You might relax. You will just relax. 

BrokerIPTV: Thank you. We are going to be talking more about that. Appreciate that information. Great.

Eric Sachs: Thank you.