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All Forum Posts by: James Bowers

James Bowers has started 11 posts and replied 29 times.

Post: Investing in Cheyenne, Wyoming

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10
Quote from @Heather Schneider:
I'm looking at doing a 1031 from Colorado to investing in residential (single family/multi-family) in Cheyenne, Wyoming area and wondering if anyone has current insight to this area? Thanks in advance!

Hi Heather, I own about 150 residential units and a number of commercial properties in Cheyenne. I’m also an agent, if you’d like some perspective feel free to reach out.

Post: Declining Home Prices In These Cities

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10

As with all data there is more to the story. Average sale prices are down because existing product is still selling but new construction (typically higher priced) isn’t. Values in general are not down that far in a number of these markets if you dig in further. 

Post: Newbie to real estate :)

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10

Hey Andrew. Looks like you might be in Cheyenne. If so, there is a group of us that meet monthly. Reach out if you'd like info.

Post: Wyoming Rental Markets

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10
Quote from @Jake Calobeer:

Hello, BP community,

New buy and hold investor here looking to learn some more about various rental markets in the state of wyoming. I currently reside outside of Salt Lake, Utah and recently finished and sold my first live in flip which generated some seed money for me to start investing in rental properties.

I have been doing research on Wyoming markets such as Rock Springs and Laramie, but am interested in other markets as well. I lived in Laramie for about two years from 2017 - 2019 for work and hope my work brings me back to this great state one day on a more permanent basis. 

What trends are you currently seeing in these markets and others in wyoming? Cap rates? Purchasing strategies? Vacancy rates? Rent price appreciation

Are there any pitfalls or other analysis strategies that may differ in wyoming from other markets to be aware of?

Economic development or job creating trends that aren’t widely being talked about? 

As with many areas of the country cities in Wyoming have experienced higher than normal home price appreciation. Do you feel that the economic opportunities in Wyoming, given the boom/bust nature of many communities in the state, can sustain the current appreciation? Or would these markets be more at risk of a larger slump than say a Denver or Salt Lake?

I look forward to contributing more on these forums as I begin this journey. 


Jake, Cheyenne has an interesting market because of a significant influx of government money over the next few years. Feel free to reach out to me if you’d like to hear more. 

Post: Has anyone here successfully sold a flipping business?

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10
Quote from @Jay Hinrichs:
Quote from @J Scott:

I've written on this a bunch in the past... It would be very difficult to sell a flipping business, for several reasons: they normally don't maintain inventory or much personal property, so there's little asset value; there's rarely any intellectual property; there's rarely any brand value; and there's not a lot of proprietary knowledge in the industry, so building a new brand from scratch has low barrier to entry.

Now, this isn't completely true. Companies like "We buy ugly houses" have been able to leverage their brand and trademarks to build value that can be franchised and sold.  But they are by far the exception, and their value is purely based on Brandon trademark, not any competitive advantage or intellectual property related to operations.

So, if you want to build a business that can eventually be franchised or sold, that's going to be the key... Building a brand that somebody's going to be willing to pay for. Not just building business.

Flipping business I agree has no value.. where you can have value though if your a home builder and have options or lot of land lots in inventory or solid options on those.. bigger builders will pay for your name just to get the inventory I have seen that happen here on the west coast quite a bit .

But for those that just buy fixer uppers  as stated just no value in that anyone can do the same thing.

Its like the HML business when I mine going my main competitor in Oregon that was bigger than me wanted to sell.. they did a big write up on it and they wanted 10X of revenue.. well they made about 1mil net a year which is about right for most of us in the HML bizz that are basically 2 to 3 man shops. But he wanted 10 million for it because his consultant was sure it would sell for 10X  never sold and then 08 hit.. Me I probably would have paid 500k for it but that would be it I could just spend those dollars on marketing get way farther ahead. 
Jay, thanks for the correlation.

Post: Has anyone here successfully sold a flipping business?

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10

Hi all,

Just curious if anyone has sold a successful flipping business, and if so for what type of valuation (EBIDTA multiple)? 

Post: Proper insurance for agents also flipping

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10

Thanks John!

Post: Proper insurance for agents also flipping

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10

I'm hoping to get some input from investors who are flippers and agents. My concern is always the potential liability that exists when dealing as a direct buyer while I hold a real estate license. Can anyone shed some light of best practices for coverage? 

Post: Green as a blade of grass here, from Cheyenne, Wyoming

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10

Hi Nick, there’s a group of us that meet in Cheyenne if you’d like to attend.

Post: Interested in buying rental property for long distanced investing

James Bowers
Agent
Pro Member
Posted
  • Real Estate Agent
  • Cheyenne, Wyoming (WY)
  • Posts 31
  • Votes 10

Cheyenne, WY is a good place to consider as well.