Tim's Corner

Testimonials

(Click to enlarge check)

Before beginning with Tim Goff’s mentoring program, I had never started or run a business and had very limited knowledge in real estate. A year later, I have a successful short sale business and can capitalize on hidden talents in leadership and networking. I love having unlimited earning potential and a way out of the “rat race”!. I have mentored in other out-of-state programs and none of them can even COMPARE to Tim’s, which covers practically anything both new and seasoned investors alike would need to know to succeed in investing. Thank you, Tim!

Dianne L.

(Click to enlarge check)

Tim,

My career kept starting and stopping last year due to the death of both of my parents. I started to feel like I was letting you down since I was out of town and I wasn’t getting any deals done. You kept reminding me that family comes first and the deals would come when they were meant to. That’s exactly what happened. I started working on deals. My first I had the home under contract in 19 days and made $20,000.00. On my 2nd deal due to your coaching, I was able to negotiate a fair, reasonable price to buy a property. We closed without any hitches and my back-end was $33,700.00.

None of this would have been possible without your coaching. I’ve come to realize that anyone can learn concepts and general knowledge, but implementing that knowledge requires a great deal of assistance from someone with experience like you IF you don’t want to make costly mistakes.

Without your coaching support, I may very well have gotten into some bad deals and regretted my decision to become a real estate investor. But instead, I now feel very comfortable with what I’m doing. I’m smart enough to realize what I don’t know and still constantly tap you for information. The coaching program is invaluable and worth every penny spent.

Thank you for your continued support. It’s worth more than you’ll ever know!

Bill B.

I took Tim’s course a couple years ago and have since built a successful business centered on investing techniques Tim taught me.
The boot camp gave me a great base for understanding the complicated landscape of foreclosures and investing but the key for me was to have a resource to turn to when I got stuck. There were several points along the way when I wouldn’t have been able to continue had Tim not been there to help me over a hurdle.
Thanks Tim, I couldn’t have done it without you.

Mark O. Louisville

Click to verify BBB accreditation and to see a BBB report.

Home

Blog

Understanding Denver Foreclosure Investing

Written by Tim Goff

Foreclosures Take their Toll on the Denver Real Estate Market

As the national foreclosure rate continues to climb, the Denver real estate market has also felt its share of hardships due to continued foreclosures in the region. The hardships are felt on the part of the homeowners who have had to list their home as a foreclosure property, but it's very good news for anyone considering investing in Denver real estate.

How Did the Foreclosure Trend Start?

During the housing boom a few years ago, many banks and lenders were being very lenient with their loans and requiring very little confirmation of income or requirements for down-payments. Legislation made it possible for the banks to loan unregulated funds, putting the power into the hands of the mortgage lenders to decide who and how would receive monies for their home, and how the mortgage would be dealt.

Many Denver homebuyers were caught up in the high volume of home buying that was happening, caught in the excitement of the stories they were hearing about amazingly low mortgage payments for high-priced homes. The demand was so high that many people sold their homes simply to make some money and buy a new one, even if they never had an intention of selling before.

Questionable Ethics Led to Denver Foreclosures

Many homebuyers were not properly educated about the Denver real estate loan options that were available to them. They may have not had any money to put down, or had very little. Maybe their income level was below the normal guideline for a home loan. The interest rates were fluctuating in an attempt to ward off the recession, making even the more expensive homes on the market reasonable for a monthly payment. How so? A.R.M. , or Adjustable Rate Mortgage. Many Denver homebuyers were offered an ARM when they didn't quite make the financial requirements for a home loan they were seeking. It sounds like a perfectly plausible concept - begin paying only the interest payments on your home until your financial situation improves or you refinance to a fixed-rate home after you have gained a little equity in your home. ARM's normally are offered for 3-5 years before the full mortgage premium payment becomes due each month.

Problem? Shortly after all of these ARM loans were signed, the job and housing market plummeted, removing the "improved financial situation" and "home equity" from the table. Without these factors, many people could not pick up the mortgage payment at the end of their ARM life. Investors should look at this as a great opportunity. I teach my students how to look for and buy foreclosures in the Denver area. Join us today and start investing in Denver Foreclosures.