Metro Broker Paul Bursey has the credentials and experience to help you with any transaction, foreclosure or short sale. Call Paul at Bursey & Associates, Inc. - 303-981-6284 or visit PaulSBursey.com.
Kathy Soltero: Hi, I'm Kathy Soltero with Metro Brokers TV. Today we have in the studio with us, Paul Bursey, he's with Bursey & Associates, and Paul, thank you so much for coming in today.
Paul Bursey: Well thank you Kathy.
Kathy Soltero: You bet. Tell us a little bit about your real estate career, and how you got into it?
Paul Bursey: Well actually I've been in the real estate since 1982, and I've sold over a thousand transactions since then, I work primarily with buyers and sellers, residential real estate. I love working up and down the I-25 corridor, you know anywhere from Castle Rock to Thornton. I like to specialize in the residential and the resale side of things, but I do, do and work with investors, I do property management, I've had as many as 40 rental properties managed at one time, and we also work with private investors out of Chicago, I work with local investors here, and then I've done a little commercial as well.
Kathy Soltero: How do you find the market going right now for investors, I mean we have gone through a lot of foreclosures in the last few years, and it seems, does it seem to be tapering off a little bit more?
Paul Bursey: You know what, the investors that I was working with in Chicago decided to liquidate because they didn't see the market being improving in the next few years, so they had 35 homes here in Denver and 330 nationally. So after a five year period, they just said hey, it's time to go ahead and take the capital and invest it in another area. So I think there's still opportunities out there, I go to the auctions, I work with investors, you just have to be really careful about where you get into, what price points you get into, and make sure you study that neighborhood before pulling the trigger.
Kathy Soltero: So when you are working with investors from outside you're pretty much their eyes and ears and everything.
Paul Bursey: Yeah, yeah, they fly into town maybe once a quarter just to check things out, see what's happening, but for the most part it's, yeah I'm their eyes and ears.
Kathy Soltero: Were they more or less investors to buy rental properties, or were these fix and flips or...?
Paul Bursey: No actually they bought from model show homes from a builder here in town, and they expected to lease the homes back to the builder, once the builder had sold out, then they go ahead and sell the home, and hopefully make money, but because they bought back in '05 and '06, the market at its peak, everything deteriorated and they lost a lot of money and their portfolio.
Kathy Soltero: Oh, that's a bummer. Tell me about your specialties, what are your credentials?
Paul Bursey: You know what, just recently I've had meetings with Wells Fargo, and we got a second wave of foreclosures in short sales coming our way here in Denver, as many as 3000. So I've been focusing more on short sales, I just got my designation for SFR, Short Sale Foreclosure Specialist, I do have a GRI, Graduate in the Real Estate Institute, and I also got my BPOR, and now I'm working on my CDPE, which is a certified.
Kathy Soltero: All these are alphabetical.
Paul Bursey: Yeah right, and so it's, that's a Certified Distress Property Expert, so that's what the banks are requiring to go ahead and work with them.
Kathy Soltero: Okay, tell quickly about any organizations or activities that you are involved in.
Paul Bursey: You know what I've been involved with the Denver Real Estate Board for years and years, Chamber of Commerce, not any more with the downtown Denver partnership, but mostly on the Denver Board.
Kathy Soltero: Okay, great. Now how does anybody get a hold of you?
Paul Bursey: You know what, I'm with Bursey Associates Inc., Metro Brokers, I work out of the Park Meadows Office, and at I-25 and County Line, and if you're in need in buying or selling or investing in properties, you can call me at, 303-981-6284, or you can go ahead and e-mail me at firstname.lastname@example.org.
Kathy Soltero: Great, Paul thank you so much for coming in, it's a pleasure talking with you.
Paul Bursey: Kathy it's great, thank you very much.
Kathy Soltero: You bet, for more real estate related videos like this one, be sure to tune in to metrobrokerstv.com.