William Bronchick, a Denver-area real estate lawyer, just launched the online College of American Real Estate Investors.
But Bronchick disproves that old adage that those who can’t do, teach.
“I’m not talking to people from an Ivory tower,” Bronchick said. “I know first-hand what real estate investors face.”
Bronchick, 44, has been investing in real estate for almost half his life, and continues to do snap up real estate whenever he finds an opportunity. He busy properties to fix and to flip, as well as to rent.
Bronchick graduated from law school at Touro College in New York City in 1990, and moved to Denver in 1993.
“I was sort of a part-time real estate investor in New York, but more of a real estate lawyer, and I sort of switched it around to be more of a full-time real estate investor and more of a part-time lawyer,” he said.
He also heads a real estate book publishing company, Legalwhiz.com, and is the president of the Colorado Association of Real Estate Investors, which has more than 1,500 members.
So far this year, he has bought a dozen properties in the Denver area.
“It is such a great opportunity right now in Denver for real estate investing,” Bronchick told me last week. “We area already seeing the market at the low-end appreciating. Denver is really two markets: Homes under $250,000 and those over $250,000.”
He said one reason that the market under $250,000 is doing so well – with investors competing against each other and driving up prices – is because of the limited supply.
“Builders are no longer building the three bedroom, one-bath homes,” that many first-time buyers can afford, he said. While the supply of starter homes is limited, the demand is growing as people want to take advantage of the $8,000 federal tax for qualified first-time home buyers, which is currently scheduled to expire at the end of November. Bronchick said he thinks the tax credit will be extended in January, and made retroactive to continue in December.
Most recently, Bronchick bought a house in the Washington Park area for about $100,000 and sold it six days after putting it on the market for $268,000.
“It was a rehab,” he said. “It was really trashed. We came in, fixed it up, and sold it.”
Contact John Rebchook at JRCHOOK@gmail.com or 303-945-6865.
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