Chatbots in Healthcare: Benefits and Use Cases

Implementation of Chatbot Technology in Health Care: Protocol for a Bibliometric Analysis

use of chatbots in healthcare

The bot allows medical personnel to focus more on direct customer care and complex procedures. Focusing on territories with limited access to psychological aid, it addresses critical gaps in service provision. People receive the required assistance and recommendations to improve their emotional state.

To this aim, co-design with people with disability is the main tool for achieving a satisfactory degree of accessibility and usability. When chatbots are successfully integrated with the medical facility system, extracting medical information about available slots, physicians, clinics, and pharmacies is very easy. This means that with the help of medical chatbots, users can track their health. A chatbot can monitor available slots and manage patient meetings with doctors and nurses with a click. As for healthcare chatbot examples, Kyruus assists users in scheduling appointments with medical professionals. This type of chatbot app provides users with advice and information support, taking the form of pop-ups.

Since Artificial Intelligence in healthcare is still a new innovation, these tools cannot be completely responsible when it comes to patients’ engagement beyond client service and other fundamental jobs. Nevertheless, there are still some amazing use cases that AI in healthcare can help. Chatbot developers must use different chatbots for involving and offering value to their audience. You need to know your audience and what suits them most and which chatbot works for what setting.

Chat and artificial intelligence (AI) are transforming appointment scheduling in healthcare, making it simpler and more efficient. This streamlined process results in quicker and more convenient access to care, leading to increased patient satisfaction. AI-powered chatbots handle complex scheduling tasks with remarkable efficacy, analyzing patient requests and scheduling appointments accordingly.

Challenges in this category can lead to user dissatisfaction, reduced effectiveness of the chatbot, and potentially lower engagement with the health care service it provides. The reason for this is that healthcare chatbots are designed to be simple and easy to use. This means that one of the disadvantages of healthcare chatbots is that they offer limited information. They can only offer a small amount of data at any given time since they want to make sure users get enough information. There are several reasons why healthcare chatbots offer better patient engagement than traditional forms of communication with physicians or other healthcare professionals. Healthcare chatbots are conversational software programs designed to communicate with patients or other related audiences on behalf of healthcare service providers.

With AI chatbots on the job, patients can rest easy knowing their personal and medical info is in good hands. The adoption of AI chatbots in healthcare is ushering in a new era of efficiency and cost-effectiveness in the fast-changing healthcare scene. These sophisticated virtual assistants, regardless of the cost of AI in healthcare, are change agents, providing a range of advantages that translate into significant time and money savings for hospitals and clinics. They are likely to become ubiquitous and play a significant role in the healthcare industry. Patients can benefit from healthcare chatbots as they remind them to take their medications on time and track their adherence to the medication schedule.

According to a report from Deloitte, chatbots are used by more than 90% of large companies and 64% of small businesses in the UK. The report also noted that in the next five years, half of all consumers would shop using a chatbot. The recent Facebook or Cambridge Analytica scandal has shown people how important it is to protect our data and personal information from being misused by third parties. This has become even more important as people see more use of AI systems and smart devices in our day-to-day lives. Basically, it’s not a problem if you choose an AI-powered conversational chatbot like REVE Chatbot. A patient may ask about a certain symptom or treatment option during their appointment, so being able to forward them directly the information they need saves both parties time and hassle.

Chatbot technology can also facilitate surveys and other user feedback mechanisms to record and track opinions. According to the recent report by PwC, the segment of the Intelligent virtual assistants (IVA) market, an important part of which is related to chatbots, was valued at $3.4 billion in 2019, and this number will only rise in the future. This way medical staff can better understand and record the health situation of each patient, as well as inform them about the health checkups and preventive measures to improve the immune system. If perfection in planning and project management has a name, then it’s Bhumi Goklani. She is a seasoned Project Manager at Mindinventory with over 11 years of rich experience in the IT industry. Specializing in Agile project management, Bhumi holds the prestigious Scrum Master™ I (PSM 1) certification, showcasing her deep understanding and mastery of Agile methodologies.

use of chatbots in healthcare

The technology may be used to schedule appointments, order prescriptions, and review medical records. Chatbots can also provide helpful information about particular conditions or symptoms. The purpose of this study was to conduct a systematic review of the literature on chatbot applications in the healthcare sector and analyze their benefits, problems, and future potential. Most of the research papers included in the study focused on creating or developing AI chatbots to help people access healthcare services and/or treatment from home and only a few of them aimed to get feedback uptake from these patients.

Informative chatbots offer the least intrusive approach, gently easing the patient into the system of medical knowledge. That’s why they’re often the chatbot of choice for mental health support or addiction rehabilitation services. Your chatbot can send patients reminders when it’s time to take their medicine or refill their prescription. AI chatbots have been increasingly integrated into the healthcare system to streamline processes and improve patient care. While they can perform several tasks, there are limitations to their abilities, and they cannot replace human medical professionals in complex scenarios. Here, we discuss specific examples of tasks that AI chatbots can undertake and scenarios where human medical professionals are still required.

What are the disadvantages of chatbots in healthcare?

The user retention rate provides insights into the value that users derive from their interactions with the bot.→  Ada Health has managed to entice a lot of users back to the app, indicating high user retention. One of the primary measures of chatbot performance, user satisfaction rate, measures how satisfied users are with their interactions with the chatbot. This can be determined through use of chatbots in healthcare surveys or direct feedback mechanisms.;→ Ada Health boasts a high user rating of 4.8 out of 5 over millions of users on the App Store and Google Play. This high score indicates overall user satisfaction with the bot’s performance. It goes through millions of pages of medical textbooks and numerous case studies to prepare a database that can assist doctors in diagnosing diseases.

Recovering patients (6/46, 13%) focused on patients in various stages of recovery. After reviewing the 327 full texts, we ultimately included 161 (49.2%) studies that reported the roles and benefits of chatbots. All 161 studies reported on the roles of chatbots, 157 (97.5%) mentioned their benefits, and 157 (97.5%) addressed their limitations. Each study also reported on the user group or groups of focus that the chatbot was designed to assist.

Second, misinformation originates from the immature or flaws of the chatbot algorithms. Training a chatbot is an iterative process that demands a large data set and vetting of the outputs by researchers. During a chatbot creation, the earlier versions of the chatbot often provide redundant and impersonalized information that may prevent users from using the chatbot. To increase chatbot usability, a chatbot must be precise enough in its communications with users or can connect users to a human agent if necessary [11,12].

  • Despite the challenges they bring, employing chatbots to improve care delivery is essential.
  • People receive the required assistance and recommendations to improve their emotional state.
  • This would help reduce the workload for human healthcare providers and improve patient engagement.
  • The healthcare industry is one of the most data-driven industries in the world.
  • With this dynamic avenue of interaction, they help in active participation of users and healthcare providers.

These conditions often require ongoing care and support, which can be difficult to provide consistently through traditional healthcare methods. Medical chatbots allow patients to receive personalized and targeted care tailored to their needs. Read along as we delve deeper into the many benefits and uses of chatbots in healthcare and explore the endless possibilities they offer for the future of healthcare delivery through AI software development. In addition to improving patient care, healthcare chatbots also streamline patient data collection and secure storage, enable remote monitoring, and offer informative support, thereby improving healthcare delivery on a larger scale. Launching a chatbot may not require any specific IT skills if you use a codeless chatbot product.

Chatbots can also provide reliable and up-to-date information sourced from credible medical databases, further enhancing patient trust in the information they receive. Incorporating AI chatbots into healthcare practices marks a significant advancement, helping elevate patient care, streamline operations, and improve healthcare accessibility. Consistency in a medication schedule is vital for recovery, and chatbots ensure patients stay on track with their prescriptions. These intelligent tools not only remind patients when it’s time to refill their medications but also inquire about any challenges they may face in obtaining their prescriptions. Other research point to gaps in chatbots’ ability to move the healthcare needle. Researchers tested six mHealth apps targeting dementia and found that they did not meet the needs of patients or their caregivers, according to a study published in 2021.

Apps with an AI chatbot providing information support or online scheduling fall at the lower end, while solutions with an AI chatbot offering complex diagnostics or clinician support are priced at the higher end. Taking the lead in AI projects since 1989, ScienceSoft’s experienced teams identified challenges when developing medical chatbots and worked out the ways to resolve them. ScienceSoft’s software engineers and data scientists prioritize the reliability and safety of medical chatbots and use the following technologies. To accelerate care delivery, a chatbot can collect required patient data (e.g., address, symptoms, insurance details) and keep this information in EHR. Backed by sophisticated data analytics, AI chatbots can become a SaMD tool for treatment planning and disease management. A chatbot can help physicians ensure the medications’ compatibility, plan the dosage, consider medication alternatives, suggest care adjustments, etc.

How to tailor a chatbot to your brand voice

Overall, this data helps healthcare businesses improve their delivery of care. A big concern for healthcare professionals and patients alike is the ability to provide and receive “humanized” care from a chatbot. Fortunately, with the advancements in AI, healthcare chatbots are quickly becoming more sophisticated, with an impressive capacity to understand patients’ needs, offering them the right information and help they are looking for. We live in the digital world and expect everything around us to be accurate, fast, and efficient. That is especially true in the healthcare industry, where time is of the essence, and patients don’t want to waste it waiting in line or talking on the phone. It has formed a necessity for advanced digital tools to handle requests, streamline processes and reduce staff workload.

  • The trustworthiness and accuracy of information were factors in people abandoning consultations with diagnostic chatbots [28], and there is a recognized need for clinical supervision of the AI algorithms [9].
  • Tailoring to your distinct needs and objectives, you may find one or several of these scenarios particularly relevant.
  • To create a healthcare chatbot, you can use platforms like Yellow.ai, which provide tools for building AI-powered chatbots with customizable features, integration capabilities, and compliance with healthcare regulations.
  • An example of a healthcare chatbot is Babylon Health, which offers AI-based medical consultations and live video sessions with doctors, enhancing patient access to healthcare services.

If you wish to know anything about a particular disease, a healthcare chatbot can gather correct information from public sources and instantly help you. Healthcare Chatbot is an AI-powered software that uses machine learning algorithms or computer programs to interact with leads in auditory or textual modes. Northwell Health’s AI-driven chatbot assists women during and after pregnancy. The tool has been effective in identifying urgent health issues, proving its value in patient education and safety. Chatbots can give basic help or answer simple questions, but they’re not doctors.

By providing timely, personalized responses and freeing up healthcare professionals to focus on more complex tasks, these AI-driven tools signify a pivotal shift toward more efficient and accessible healthcare systems. This evolution promises significant improvements in both patient outcomes and operational efficiencies across healthcare settings. One of the coolest things about healthcare chatbots is the super-improved patient experience they bring to the table. These medical AI chatbots are fast, convenient, and super accessible, giving patients quick and personal answers to all their questions and worries. It’s a total game changer that helps cut down on wait times, provides better access to care, and leads to a more positive healthcare experience for everyone. To fully realize the potential of chatbot technology in improving health outcomes for everyone, sustained collaborative efforts from an interdisciplinary research team comprising chatbot engineers and health scientists are essential.

We anticipate a significant increase in chatbot research following the emergence of ChatGPT. In this bibliometric analysis, we will analyze the characteristics of chatbot research based on the topics of the selected studies, identified through their reported keywords, such as primary functions and disease domains. We will report the frequency and percentage of the top keywords and topics by following the framework in previous research to measure the centrality of a keyword using its frequency scores [31].

Healthcare chatbots offer instantaneous responses to patient queries, which is particularly crucial in emergency situations where immediate advice is needed. Concerning the future of research in this area, in recent months considerable attention has been focused on ChatGPT. When performing a search in the scholar repository by adding the word ‘chatGPT’ to our selected five keywords, we retrieved 244 papers dating from 2022 to the present that discuss this topic (245 from 2021). This indicates that considerable attention has been concentrated in this direction in the last year, discussing the potential of this technology.

How AI health care chatbots learn from the questions of an Indian women’s organization – The Associated Press

How AI health care chatbots learn from the questions of an Indian women’s organization.

Posted: Wed, 21 Feb 2024 08:00:00 GMT [source]

Chatbots, or virtual digital companions who engage in conversational interactions, have come a long way since their inception. From their early days as simple rule-based systems to their current incarnation as sophisticated AI-powered assistants, chatbots have evolved remarkably, shaping the future of healthcare delivery. One stream of healthcare chatbot development focuses on deriving new knowledge from large datasets, such as scans. This is different from the more traditional image of chatbots that interact with people in real-time, using probabilistic scenarios to give recommendations that improve over time. While AI chatbots are becoming increasingly sophisticated, they currently support and supplement healthcare services but do not replace professional medical advice and diagnosis. They can provide symptom assessments based on the data provided to them but should not be solely relied upon for a medical diagnosis.

It included 6 subcategories grouped into 2 categories of benefits, with 121 (77.1%) of the 157 studies contributing to the overarching theme. The promise of chatbots in health care is considerable, offering potential for more efficient, cost-effective, and high-quality care [61-65], as well as their broad spectrum of uses and acceptability [66,67]. People who have experienced a negative experience with automated systems in the past are less likely to trust technology. This can cause them to be hesitant when they interact with a healthcare chatbot, especially if they have a personal or family history of mental health issues.

Over time, chatbots in healthcare became more sophisticated, incorporating machine learning and artificial intelligence (AI) to provide more personalized responses. The healthcare industry has long struggled with providing efficient and effective customer service through chatbots in healthcare. Patients are often faced with complex medical bills and confusing healthcare jargon, leaving them frustrated and overwhelmed. However, with the evolution of chatbots, healthcare organizations are starting to offer a more personalized and streamlined experience for their patients.

How to Evaluate AI Healthcare Chatbot Performance Metrics

The ultimate aim should be to use technology like AI chatbots to enhance patient care and outcomes, not to replace the irreplaceable human elements of healthcare. Healthcare chatbot is a software powered by artificial intelligence and natural language processing (NLP) technologies. They’re designed to converse and answer specific questions that patients ask in similar ways a human caregiver would.

One of the most significant advantages of healthcare chatbots is they have no more hold time. Customers can ask their questions, receive answers, and get what they need without having to wait on hold. This can cause them to lose out on important treatments and medication, which could negatively impact their health. Because these tasks are repetitive, chatbots are excellent tools for automation by artificial intelligence systems such as healthcare chatbots. Healthcare chatbots can provide real-time assistance because artificial intelligence (AI) answers all your questions. Instead, it just needs to know how to use the information already stored in its memory banks.

This health companion app also offers personalized medical guidance and symptom evaluations. After collecting patient data by allowing them to describe their symptoms, Ada’s chatbot leverages a vast reservoir of medical knowledge to provide insights and advice tailored to individual needs. Chatbots leverage vast Chat GPT healthcare datasets such as the Wisconsin Breast Cancer Diagnosis and COVIDx for COVID-19 to interpret user queries and offer relevant insights based on predefined labels. This saves users valuable time and eliminates unnecessary clinic visits, as chatbots can provide near-accurate diagnoses with minimal input.

AI offers the potential to improve the patient experience profoundly, streamline the healthcare delivery process, make healthcare services more affordable and accessible, and much more. AI chatbots leverage data to deliver personalized responses, suggestions, and reminders, ensuring a uniquely tailored patient experience. Over time, with more interactions, chatbots learn and understand a patient’s personal needs and preferences, thereby delivering even more personalized care. Finally, another way to mitigate ChatGPT risks is to establish rules for how AI is used in the workspace and provide security awareness education to users.

Called ELIZA, the chatbot simulated a psychotherapist, using pattern matching and template-based responses to converse in a question-based format. This website is using a security service to protect itself from online attacks. You can foun additiona information about ai customer service and artificial intelligence and NLP. There are several actions that could trigger this block including submitting a certain word or phrase, a SQL command or malformed data. Comprising 15 (9.3%) of the 161 studies, this category focused on behavioral health and lifestyle changes. Behavioral change seekers (8/15, 53%) included studies on individuals seeking to change health-related behaviors. Individuals in addiction recovery (7/15, 47%) targeted those dealing with addictions.

This is one of the key concerns when it comes to using AI chatbots in healthcare. While using such software products, users might be afraid of sharing their data with bots. Business owners who establish healthcare do their best to execute data security measures for making sure their platforms resist cyber-attacks. Patients suffering from mental health issues can seek a haven in healthcare chatbots like Woebot that converse in a cognitive behavioral therapy-trained manner. A chatbot for medical diagnosis interprets symptoms, suggesting potential conditions for further evaluation. It offers an accessible way for patients to begin their care journey from home.

Unfortunately, the healthcare industry experiences a rise of attacks, if compared to past years. For example, there was an increase of 84% in healthcare breaches, comparing the numbers from 2018 to 2021. Also, approximately 89% of healthcare organizations state that they experienced an average of 43 cyberattacks per year, which is almost one attack every week.

Understanding the Role of Chatbots in Virtual Care Delivery

These security policy considerations should inform deliberations about the security challenges and concerns of AI chatbots in health care. In principle, many of the techniques and industry best practices needed to implement and enforce these security considerations are available, if not deployed on AI platforms. This paper only provides a concise set of security safeguards and relates them to the identified security risks (Table 1). It is important for health care institutions to have proper safeguards in place, as the use of chatbots in health care becomes increasingly common.

Our analysis indicates a broad and diverse user base for health care chatbots. From individuals focused on general well-being to those with specific health conditions, chatbots have been designed to cater to a wide array of needs. This category also includes issues of inequality in accessibility, as highlighted in 4 (80%) of the 5 studies. This subcategory delves into the challenges related to unequal access to chatbot technology. With 6 (3.8%) of the 157 contributing studies, this category includes regulatory and legal issues encompassing the implications of chatbot advice and overall patient safety, as highlighted in 3 (50%) studies. These issues include chatbots’ compliance with health care regulations and patient privacy laws, liability for misdiagnosis or inadequate advice, and the need for specific regulatory guidelines for their development and application.

An AI-enabled device can search through all the information and offer solid suggestions for patients and doctors. Harnessing the strength of data is another scope – especially machine learning – to assess data and studies quicker than ever. With the continuous outflow of new cancer research, it’s difficult to keep records of the experimental resolutions.

These digital assistants offer immediate responses to health inquiries, making them a valuable resource for individuals seeking quick guidance on minor ailments or wellness information. While chatbots can never fully replace human doctors, they can serve as primary healthcare consultants and assist individuals with their everyday health concerns. This will allow doctors and healthcare professionals to focus on more complex tasks while chatbots handle lower-level tasks. Healthcare chatbots can be a valuable resource for managing basic patient inquiries that are frequently asked repeatedly.

Overview of Benefits of using AI chatbots to Improve Patient Care

Patients are provided with convenient, round-the-clock access to vital knowledge and booking aid. By automating these tasks, organizations can reduce administrative workload and enhance the overall care experience. They can securely store and manage all that sensitive patient information, reducing the risk of data breaches and other security threats.

In order to add a chatbot to your healthcare website, you would need to create it using an online chat tool, such as ProProfs Chat. For example, if we conduct research through ScienceDirect, using the combination “chatbot accessibility”, we have 651 research articles as a result, 530 of which have been published in the last 3 years. Other chatbots rely on online platforms or social networks such as Telegram or Facebook [8, 22, 13, 23, 26]. The remaining ones used a variety of different methodologies like data gathering [25, 28, 21] or online interfaces like Google API’s [14].

use of chatbots in healthcare

In addition, the financial motives of private companies in the health sector raise ethical concerns about the primary purpose and application of health chatbots [73]. The requirement for sophisticated AI technology also implies increased demands on human resource expertise and storage services, potentially escalating costs [73,287]. Studies included in this review indicate that using avatars in these chatbots to simulate social behaviors can enhance user engagement and trust. There are several ways that a healthcare chatbot can help improve the patient experience.

With the recent tech advancements, AI-based solutions proved to be effective for also for disease management and diagnostics. ScienceSoft’s healthcare IT experts narrowed the list down to 6 prevalent use cases. To develop an AI-powered healthcare chatbot, ScienceSoft’s software architects usually use the following core architecture and adjust it to the specifics of each project. Chatbots could advance precision medicine efforts by offering insights into genetic profiles, personalized treatment choices, and potential medication interactions — all based on an individual’s distinct genetic composition. As chatbots continue to revolutionize the healthcare industry, their evolving technology is poised to introduce even more dynamic functionality and versatility in the near future. Here are just a few successful chatbots in healthcare to inspire your journey.

Healthcare recruiters turn to AI chatbots for hiring help – Modern Healthcare

Healthcare recruiters turn to AI chatbots for hiring help.

Posted: Fri, 09 Feb 2024 08:00:00 GMT [source]

Calpion provides high-quality,  time-bound, cost-effective Computer-Aided Designing and Drafting Services to streamline your designing needs. Increase efficiency of boring work by using customizable automation that runs 24/7. With 28+ years of experience driving digital transformation we are committed to your success. He is intrigued by the developments in the space of AI and envisions a world where AI & human works together.

Similarly, the latter employs evidence-based techniques such as CBT, Dialectical Behaviour Therapy (DBT), meditation, breathing, yoga, motivational interviewing, and micro-actions to enhance users’ mental resilience. While chatbots cannot replace therapists, they serve as accessible and impartial resources for patients seeking support around the clock. Powered by AI, healthcare chatbots excel in handling basic inquiries, offering users a convenient way to access information. These self-service tools also foster a more personalized interaction with healthcare services than traditional methods like website browsing or call center communications.

use of chatbots in healthcare

Having 19 years of experience in healthcare IT, ScienceSoft can start your AI chatbot project within a week, plan the chatbot and develop its first version within 2-4 months. In healthcare since 2005, ScienceSoft is a partner to meet all your IT needs – from software consulting and delivery to support, modernization, and security. Our 150+ customers value our deep industry knowledge, proactivity, and attention to detail.

There are many business benefits of chatbots over the traditional human-centric approach. For instance, the chatbot Molly by Sense.ly utilizes patient interaction data to modify and improve individual treatment plans, demonstrating the potential for adaptive care strategies. Artificial neural networks (ANN) are used in retrieval and generative chatbots.

Beginning with primary healthcare services, the chatbot industry could gain experience and help develop more reliable solutions. AI chatbots have significant potential to enhance the efficiency and effectiveness of healthcare services. Their use extends beyond mere concept to practical implementation, promising improved patient experiences and outcomes.

One of the most important reasons behind healthcare providers’ using chatbots is that they help in acquiring patient feedback. Getting proper feedback from the users is very crucial for the improvement of healthcare services. With the help of a chatbot, any institute in the healthcare sector can know what the patients think about hospitals, treatment, doctors, and overall experience. AI chatbots in healthcare are used for various purposes, including symptom assessment, patient triage, health education, medication management, and supporting telehealth services. They streamline patient-provider communication and improve healthcare delivery. AI chatbots are undoubtedly valuable tools in the medical field, enhancing efficiency and augmenting healthcare professionals’ capabilities.

Powered by Natural Language Understanding (NLU) and Natural Language Processing (NLP), these chatbots mimic human interactions, delivering a more engaging experience. There are countless opportunities to automate processes and provide real value in healthcare. Offloading simple use cases to chatbots can help healthcare providers focus on treating patients, increasing facetime, and substantially improving the patient experience.

As demand for virtual care solidifies, healthcare organizations are increasingly relying on various technologies to deliver care remotely. These include audio-visual technology, healthcare wearables, Bluetooth-enabled devices, and chatbots. Our findings indicate that chatbots also play a key role in facilitating clinical research, consistent with https://chat.openai.com/ past work [259], a potential that needs further exploration, especially considering AI’s evolving role in health care [72, ]. Encompassing 15 (9.3%) of the 161 studies, this category targeted health care professionals and students. Medical and nursing students (8/15, 53%) covered educational aspects for students in medical and nursing fields.

New Research Reveals March as the Top Month to List Properties and Rentals

  • A new study has identified the time of the year Americans are keenest to move – and March is the most popular month.
  • The study analyzed Google searches around property and rental sites to reveal the best time to put your home on the market or start renting.
  • Colorado is named as the state looking to move the most, whereas Alaskans are happiest staying put in their current homes.
  • An expert shares their advice on the benefits of using a storage unit to make your move run as smoothly as possible.

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New research has revealed March is when sellers and landlords should list their properties to receive the most interest.

The research, pulled together by online self-storage finder Storage.com analyzed nationwide and regional Google search volume for keywords related to real-estate sites – such as Zillow and Trulia – to determine the time of year properties and rentals are most in demand.

The added financial pressure caused by the current economic situation might deter some from moving, but for others, it might motivate them to take the plunge – whether this is driven by an urge to get onto the property ladder or because tenants want to find somewhere more affordable.

Whatever the reason, U.S. searches for for-sale and rental listings reached a whopping 476,050,700 by the end of last year, peaking in March with a total of 44,698,660 – 13% more than the monthly average of 39,670,892.

This indicates sellers and landlords should make any final touches to their properties over the next few weeks to be ready to list by month’s end, as interest could be about to surge again.

Enthusiasm around moving dropped as 2023 came to a close, with searches falling 20% below the monthly average in December to 31,662,730. Americans didn’t appear eager to change homes in November either, as the month recorded the second-lowest volume at 33,623,290.

This is perhaps because the excitement of the festivities drew attention away from searching for somewhere new to live, suggesting sellers and landlords will have the worst luck if they list during the holiday period.

The next most popular month is July at 44,097,760 – 11% above the monthly average – followed by August at 43,828,170, so owners are best off advertising their properties sooner rather than later if they want a deal underway, otherwise they may have to wait until the next rush in summer.


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As well as analyzing nationwide Google search volume, the study looked at it on a regional level to identify the states where sellers and landlords are most likely to find potential buyers and renters, with Colorado proving to be the most eager to relocate this year.

The stage averaged 14,414 searches per 100k residents, a fifth (21%) higher than the national average of 11,869 (per 100k residents).

Florida is the second state most wanting to uproot, with 13,985 searches per 100k – 18% above the US average. In third is Arizona, which is still 16% higher at 13,782 per 100k, meaning listings may still receive higher response rates there than in most states.

The Ten States Most Interested in Moving

Commenting on the findings, Chuck Gordon, CEO of Storable, the parent company of Storage.com, says: “Now that Americans have settled back into their everyday routines and bank balances are starting to recover after a tight January, it’s likely those that were home hunting beforehand will return to it – and many others may start looking too if they
set moving as a goal for 2024.

“If the trend spotted last year repeats itself, prospective homeowners are going to increase their research for potential homes again next month, so there’s not too much time for budding sellers and landlords to get their properties up to scratch and capitalize on the demand.

“Finding the right place to live can seem like the biggest challenge of the process at the time, however it’s only the first hurdle. While it’s near impossible to remove all stress from a move, beginning packing as soon as things are in motion can seriously ease the headache.

“You’ll be surprised how quickly time can creep up on you, and suddenly you have most of your house to pack still. However, it can take weeks upon weeks before you receive a moving date – sometimes even months – and living among boxes can add to the sense of chaos. If you can, use a storage unit to hold non-essential items.

“That way, there’s less loading and unloading to do on the big day. You can unpack and set up everything you need to use immediately, then add in the extras at your own pace, finding the right spot for them rather than just shoving them anywhere in a rush to feel sorted.”

Data was gathered via Google Keyword Planner, which provides nationwide and state-specific search volume behind moving-related terms, keywords, and sites. All findings were scaled against local populations to get a ‘per 100k residents’ search rate.


Learn live and in real-time with Realty411. Be sure to register for our next virtual and in-person events. For all the details, please visit Realty411Expo.com or our Eventbrite landing pageCLICK HERE.

How to Minimize Risks and Maximize Gains

By Rick Tobin

Between January 2020 and present day, U.S. home prices rose a staggering +47%, per S&P CoreLogic Case-Shiller. Are these price trends likely to keep rising at the same pace or not?

How is it possible that the reported published inflation rates are declining while home prices and home unaffordability rates are increasing at the same time?

Will home prices decrease, flatten, or increase later here in 2024? The answer partly depends on whether the home listing inventory supply rapidly increases or decreases. It’s all supply and demand economics at the true core.


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Let’s take a closer look at some eye-opening housing, inflation, and jobs numbers:

  • Before the Fed started raising rates in 2022, a $2,000 monthly housing budget would have bought a home costing more than $400,000. Today, a $2,000 monthly household budget gets $295,000 or less.
  • Existing home sales between 1998 and 2007 averaged 6 million per year. Through October 2023, the annual home selling pace was closer to 3.79 million housing units.
  • Over the past 50 years (1973 – 2023), home prices rose by nearly 1,300% as compared with a 610% gain in the CPI (Consumer Price Index).
  • The inflation-adjusted hourly work wage has increased by just a measly 1% over the past 50 years (not an annual 1% increase, but just a 1% total gain over and above 1973’s wages in 2023 at a 1/50th of 1% increase per year average).
  • By comparison, the inflation-adjusted median home price has gained 100% over the past 50 years. As a result, real home prices have increased by more than 100 times (or 100x) the real wage gains.

Sources: CPI, Federal Reserve, and ZeroHedge

To be able to afford the median-priced home of $433,100 in late 2023, a household needed an annual income of roughly $166,600. However, the median household nationwide earns just $74,580, which is only 45% of the recommended amount.

By comparison, the median-priced home in California reached almost $860,000 in recent months. This is almost double the national median-priced home average.

As it relates to the lock-in effect, it does not matter too much if the homeowner’s mortgage rate is 6%, 4%, or 2% if they lose their job and main source of income. Foreclosures will likely rapidly increase this year as the true unemployment numbers skyrocket, sadly. It then creates a downward spiral for the neighboring homeowners as future foreclosures become the latest sales comps while creating more upside-down homes with negative equity. Later, more underwater homeowners will walk away if they have no equity to protect.

The latest house payment ($62,165) as a percentage of household income ($94,964) number ratio is 65.46% here in California ($62,165/$94,964 = 65.46%).

Approximately 60% of all homes owned in America are owned by people over the age of 50. Average home prices across the nation have increased 45%+ since the pandemic declaration back in March 2020. At some point, more older Americans will likely list their homes for sale to take their gains and to downsize at the same time while pushing the home listing inventory numbers higher.

If you have cash or access to third-party loans or equity partners, there will be some incredible buying opportunities this year and beyond.

Water Damage and Extreme Weather Swings

It’s getting increasingly difficult to obtain insurance for both owner-occupied and rental properties. A mortgaged residential or commercial real estate property is required to have sufficient amounts of insurance coverage, or the lender may consider it to be the equivalent of a mortgage default that would later lead to a foreclosure filing.

The #1 cause of damage to homes is usually excess water from rainstorms, heavy snowfall, floods, leaky roofs, or broken pipes. Fewer than 2% of Californians have flood insurance coverage for their homes. The horrific flooding in San Diego last month will likely cause significant losses for residential and commercial real estate properties as well as push insurance premiums skywards for local San Diego County and statewide residents.

Florida is #1 for the highest annual homeowners insurance premiums that are near $9,270. How much worse will it get after hurricane season begins?

Please make sure that you have multiple insurance coverage options from your preferred insurance broker just in case you receive a cancellation notice in your mailbox in the near future.

Commercial Real Estate

Upwards of 44% of office buildings nationwide with a mortgage are now claimed to be upside-down with negative equity here near the start of 2024. Later this year, the negative equity numbers should keep rising. How will this potentially impact banks and the overall US economy later this year and next?

CNBC recently published this article entilted vacant office spaces on the rise, with over 100 million square feet available in Manhattan.

This 100 million square foot number is equivalent to 40 vacant Empire State Buildings. Occupancy rates for office buildings in that region continue to remain under 50%. How many of these empty offices will later be converted to residential units?

Blackstone, the world’s largest owner of commercial real estate and a spinoff of BlackRock, is walking away from some of their distressed and upside-down commercial properties.

Year-over-year office building price percentage losses (’22 – ’23)
1. San Francisco: -58.9%
2. Chicago: -48.3%
3. San Jose: -48.0%
4. Philadelphia: -45.1%
5. Los Angeles: -44.6%
6. Orange County, CA: -38.4%
7. Dallas/Ft. Worth: -37.6%
8. New York: -37.3%
9. Austin: -31.5%
10. Boston: -24.2%

Source: Green Street News (data for all office sales, not just for Blackstone deals)

There are another one million new rentals coming to market by 2025 over and above the 1.2 million new apartment units that were built over the past three years, according to REjournals. Will this drive down rental prices even more due to excess supply?

Banks

Between 2017 and 2023, more than 10,000 bank branches closed nationwide. From January 1, 2023 through October 19, 2023, banks fired 20,000 employees. Yet, an additional 42,000 bank employees were let go in the final 72 days of the year between October 20th and December 31st for a grand total of 62,000 bank layoffs in 2023. Will these numbers accelerate in 2024?

Next month on March 11th, the Federal Reserve is terminating their “safety net” for many banks that’s called the Bank Term Funding Program (BTFP). After the financial system almost collapsed last year in March 2023, it was the BTFP bailout programs that possibly prevented bank runs after many banks became technically insolvent. On March 12th, private money may become quite popular as a backup lending solution because fewer banks may be able to lend to even their most creditworthy clients.

The banking dominoes continue to fall…

The push towards the “Basel III Endgame” banking regulation, which requires banks with assets over $100 billion to set aside more capital or cash reserves while driving down their ability to lend, is almost here.

Basel is a reference to the city in Switzerland where the world’s superbank, named the Bank for International Settlements, is located. They govern all central banks worldwide, including the Federal Reserve. We may see an increasing number of bank closures and mergers this year and next, partly due to these new regulations.


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China’s Defaulting Real Estate Marketplace

Here comes the next potential Asian Contagion event and derivatives debt tsunami from Evergrande (3333.HK stock symbol – they were once China’s largest real estate developer) as I’ve been writing about for several years. Country Garden, also ranked as high as the #1 largest real estate developer in China, is having their own serious financial challenges as well. It could force many Chinese investors to sell off their US Treasury holdings, which, in turn, may drive the 10-year Treasury yield and corresponding 30-year fixed mortgage rates higher.

January 2024 was somewhat reminiscent of the Russian financial crisis (stocks, bonds, and currency implosions) that spread to Asia (aka Asian Contagion) and South America back in 1998. At the same time, the derivatives investments held by Long-Term Capital Management (LTCM) were so volatile and at risk that they ran out of money while almost taking down the world’s entire financial system at the same time.

Several large financial institutions were asked by the Federal Reserve to put upwards of $100 million each to save LTCM’s derivatives bets so that the financial system wouldn’t collapse. The only investment firms that refused to bail out LTCM in 1998 were Lehman Brothers and Bear Stearns. Ten years later in 2008, they were the first big investment firms to implode as the Credit Crisis (primarily related to a frozen global derivatives market) worsened and were not bailed out either, ironically.

Never forget that the global bond and currency markets absolutely dwarf all stock markets combined. Get your popcorn ready and keep a close eye on financial institutions in China, Russia, Germany (Deutsche Bank, especially), and here in the U.S.

Jobs Layoffs and Declining Cash Reserves

Job layoffs accelerated +136% in just one month between January 2024 and December 2023. Cash reserves held at banks are near all-time record lows right now. A recent survey found that 60% of the U.S. population has $500 or less in their checking accounts. Just 12% of the U.S. population has $2,001 dollars or more in their checking accounts, as per GoBankingRates.

Ballooning Corporate Debt

The U.S. corporate loan maturity amounts that ballooned or will be ballooning or coming all due and payable by the following year-end dates:

  • December 2023: $230 billion
  • December 2024: $790 billion
  • December 2025: $1.070 trillion
  • December 2026: $1.105 trillion
  • December 2027: $1.055 trillion
  • December 2028: $1.240 trillion
  • December 2029: $802 billion

Many corporations will be forced to refinance their debt at much higher rates while increasing their costs and decreasing their profits. As a result, more corporations will likely look to reduce their monthly costs, which may include increased job layoffs, sadly.

Between October 2019 and April 2023, there were more jobs created for foreign-born workers than for native American workers, as per ZeroHedge. My guess is that the foreign worker percentages have increased at an even faster pace between May 2023 and January 2024. In 2023, there were more illegal immigrant crossings in the USA each month than the total number of monthly births for US residents.

Government and Consumer Debt

According to Michael Snyder’s article entitled The United States Has The Biggest Government In The History Of The World By A Very Wide Margin, let’s take a look at some of these published numbers:

  • Upwards of 3 million people work for the federal government.
  • The federal government spent 6.13 trillion dollars in 2023. This figure is larger than the GDP of every nation on the planet except for the U.S. and China.
  • More than 70 million Americans are on Social Security.
  • More than 65 million Americans are on Medicare.
  • More than 81 million Americans are on Medicaid.
  • More than 41 million Americans are on food stamps.

Consumer and government spending trends: US households racked up $17.29 trillion in record debt last year (mortgages, credit cards, auto loans, student loans, etc.). The federal US debt crossed another milestone recently, surpassing $34 trillion. By comparison in 2009, US debt was only $10.6 trillion. Between 1980 and 1990, the total overall federal debt only increased by $2 trillion.

We’ve borrowed:
* $1 trillion over the last 3 months
* $2 trillion over the last 6 months
* $11 trillion over the last 4 years

In the previous housing crash here in California (2007 to 2012), average home prices fell to a still all-time state record amount of -41.7% from peak to trough.

  • Nearly 30% of Americans are behind on one or more debt payments.
  • 56 million Americans had unpaid credit card balances for more than a year.
  • 40% of student loan borrowers have still not made a payment even after the recent October 1, 2023 student loan payment restart date after three years of C-19 forbearance.
  • Just one late payment can drop a FICO credit score between 80 and 180 points.

Out of Chaos Comes Opportunity

Inflation is likely to remain elevated here in 2024. Historically, the ownership of real estate has proven to be an exceptional hedge against inflation while rising at a similar pace or higher each year.

With consumer debts at all-time record highs and credit card APR rates hovering between 28% and 30%+ and early paycheck loans reaching as high as 330% to 400% APR rates, it’s very important to limit your spending, set aside as much cash as possible if this may be an option for you, and keep your eyes focused on potential real estate bargains in your region.

During volatile economic time periods like seen back during the Great Depression (1929 – 1939), the Savings and Loan Crisis (‘80s and ‘90s), and the Credit Crisis or Great Financial Recession (2007 to 2012), there were incredible buying opportunities for discounted real estate. Please stay focused on your goals and targets rather than on the temporary obstacles.


Rick Tobin

Rick Tobin has worked in the real estate, financial, investment, and writing fields for the past 30+ years. He’s held eight (8) different real estate, securities, and mortgage brokerage licenses to date and is a graduate of the University of Southern California. He provides creative residential and commercial mortgage solutions for clients across the nation. He’s also written college textbooks and real estate licensing courses in most states for the two largest real estate publishers in the nation; the oldest real estate school in California; and the first online real estate school in California. Please visit his website at Realloans.com for financing options and his new investment group at So-Cal Real Estate Investors for more details. 


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Real Estate Success with Flip and Dani Lynn Robison – Entrepreneurs, Authors and Speakers

Investors, it’s time for another exclusive Realty411 live webinar! Don’t miss the opportunity to learn exclusive insight, tips and strategies by some of the top real-estate investors in the nation. On this exciting LIVE webinar, Entrepreneurs, Authors and National Speakers, Flip and Dani Lynn Robinson, share incredible journey and insight with our guests.

This online presentation is engaging and is designed to catapult our guests to the next level of real-estate success! Flip and Dani are founders and owners of The Freedom Family of Companies, a vertically integrated investment firm with:

** Over $30 Million Dollars Raised
** Over $22 Million in Assets and over 900 Units Under Management

On this exclusive and LIVE webinar, Flip and Dani Lynn will divulge top secrets and top-of-mind topics, such as:

>>> The important Investor’s Guide to Real Estate

>>> 7 Mindset Mistakes Blocking Your Breakthrough

>>> Simplified Strategies for Building Wealth

>>> How They Made $2M in 21 Months Without Losing Sleep or Selling Friends

>>> Finding Your Financial Freedom – How the 1% Think, Invest, and Design Their Lives

As a special treat for the upcoming Valentine’s Day festivities, Flip and Dani Lynn will also share a special segment for couples. Discover strategies for working and living the wild real-estate investing life with your spouse or loved.

This special presentation for entrepreneurial couples is titled: “Tips on How Couples Can Work Together Towards Real Estate Success.” Don’t miss this special webinar, online seats are LIMITED, so be sure to register today!

Top Agent Sana Saleh Returns to Rodeo Realty Inc.

Rodeo Realty Inc. proudly announces the return of top real estate agent, Sana Saleh. With an impressive track record and a commitment to excellence, Sana Saleh brings back her extensive experience, unmatched dedication, and a proven history of success back to Rodeo Realty.


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In a statement regarding her return, Sana Saleh emphasized the pivotal factors that drew her back to Rodeo Realty. “In 2021 and 2022, I sold about $40 million each year and had reached the Founder’s Club level, the second highest level at Rodeo Realty! I was recruited by everyone. I left Rodeo for another company with high expectations, but quickly realized that the support, guidance, advertising, and technology were not what I was accustomed to. There was very little help from management. The meetings were not informative, and I felt that I was not being kept up to date with new laws, marketing techniques, economic conditions, and industry changes. I felt on my own. I gave it a year but there was no comparison to what I received at Rodeo Realty. I returned home to Rodeo, and I am excited to be back!”


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Sana Saleh’s decision to return underscores Rodeo Realty’s commitment to providing their agents with unparalleled support, cutting-edge technology, and a collaborative environment. With her proven success and dedication to client satisfaction, Saleh defines the company’s principle goal of setting the highest standards in real estate service!


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Stratton Equities: Pioneering the Future of NON-QM Mortgages

PARSIPPANY, N.J.–(BUSINESS WIRE)–In an ever-evolving mortgage lending landscape, NON-QM mortgage loans are emerging as the industry’s future, providing opportunities for a wider range of borrowers to achieve their homeownership and investment goals. Stratton Equities, the Leading Nationwide Private Money and NON-QM Mortgage Lender, has been at the forefront of this revolution for the past six years, setting the pace for other companies to follow.

NON-QM mortgage loans, short for non-qualified mortgage loans, have gained significant traction in recent years as a viable alternative to traditional QM (qualified mortgage) mortgage loans, which come with stringent government regulations and eligibility criteria. Recent statistics reveal that only a small percentage of Americans qualify for QM loans due to these stringent requirements.


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According to industry data, the demand for NON-QM mortgage loans has steadily increased yearly, with a notable surge in the past few years. In 2022 alone, NON-QM loans accounted for a significant portion of the mortgage market, surpassing expectations. It has been estimated that one in four loans will go NON-QM in the near future.

Stratton Equities recognized the potential of NON-QM loans six years ago, positioning themselves as pioneers in private money lending, specifically NON-QM mortgage loans. This early recognition of market trends has been the cornerstone of their continued success.

Michael Mikhail, CEO and Founder of Stratton Equities, emphasized their focus on generating NON-QM leads and their commitment to offering a wide range of lending programs, including NON-QM, DSCR, Hard Money, and No-Doc Loans. He stated, “Our aim has always been to provide solutions that cater to a broader spectrum of borrowers. Stratton Equities had the foresight six years ago to recognize the market’s direction, which is why we were at the forefront of NON-QM mortgage lending. This serves as a foundation for our continued success.”

NON-QM mortgage loans are designed to serve most Americans who do not meet the strict eligibility criteria of QM loans. These loans facilitate home ownership, second home ownership, and investment properties, allowing income generation and wealth building for a more diverse range of borrowers. Contrary to misconceptions, NON-QM mortgage loans often offer competitive rates, making them attractive.


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Traditional lenders like banks and credit unions primarily offer QM loans for one-to-four-family investment properties. However, these loans have heavy documentation requirements and lower loan-to-value (LTV) ratios, typically capping at 70%. Stratton Equities stands out by providing NON-QM mortgage loans for such properties with easier qualifications, lower documentation requirements, and higher LTV ratios, currently at 80%.

Stratton Equities also recommends closing within an LLC for investment properties due to tax and security advantages. Despite some lingering stigma associated with NON-QM mortgage loans, they often result in lower rates, higher LTVs, and streamlined documentation, making them a practical choice for borrowers.

Educating borrowers about the advantages of NON-QM mortgage loans and dispelling misconceptions is vital. Stratton Equities is committed to leading the way in providing these beneficial lending options and believes in the potential for growth and success in this market. Their loan officers benefit from the advantages offered by the company, including a consistent stream of leads, as exemplified by recent hires who have quickly achieved success within the organization.

Stratton Equities invites individuals and investors to explore the world of NON-QM mortgage loans and discover the possibilities for achieving their financial goals. For more information, please visit www.strattonequities.com.

For more information about Stratton Equities, please visit their website at https://www.strattonequities.com. Follow Stratton Equities on social media on Instagram, Facebook, and YouTube @StrattonEquities, LinkedIn @stratton-equities, and Twitter @Strattonequity.

Contacts
Kelly Bennett, Director of PR
Stratton Equities
[email protected]
(949) 463-6383


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From Homelessness to Multi-Millionaire: Michael Mikhail Leads Stratton Equities in Celebrating 5 Years of Success and Achievement

(New Jersey, July 25, 2023) – Stratton Equities, the Leading Nationwide Private Money and NON-QM Mortgage Lender, proudly celebrates its fifth anniversary. Since its launch in 2018, Stratton Equities has experienced significant growth and expanded its operations. The company has successfully established itself as a prominent player in the real estate investment and lending industry under the visionary leadership of its Founder and CEO, Michael Mikhail.

Mikhail encountered numerous challenges on his path to becoming a prominent figure in the industry. Following a five-year journey spanning 19 countries, he returned to the United States in 2017, homeless and without financial resources. However, his unwavering determination to reshape his future propelled him forward as he drew upon his extensive background in mortgage lending from 2003 to 2010. He deliberately leveraged that experience and explored opportunities within the mortgage lending industry. He faced numerous obstacles, including a lack of managerial support, limited program options, a shortage of leads, inadequate training or technology, and unhealthy work culture. This toxic environment was an industry-wide issue, contributing to a high turnover rate and low production among loan officers.

Stratton Equities was born as a response to these challenges. Mikhail’s vision was to overhaul the methods used by the mortgage lending industry by incorporating more programs and generating an influx of organic inbound leads. Mikhail achieved remarkable success, making $1.3 million within six months of launching the company.


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Due to Mikhail’s unwavering dedication to delivering exceptional service and driving success, Stratton Equities is a leading player in the private money and NON-QM mortgage lending industry. With its customer-first approach, state-of-the-art technology, and extensive expertise, Stratton Equities has expanded its market reach and aims to achieve an impressive target of $1.2 billion in closed loan volume annually, or $100 million monthly.

Reflecting on the milestone, Mikhail commented, “As we celebrate, I am humbled and grateful for the incredible journey we have embarked upon. It has been a testament to our unwavering commitment, relentless dedication, and the trust our clients and partners place in us. This milestone is a celebration of our accomplishments and a reflection of the transformative power of perseverance and innovation in the lending industry. We have expanded our reach, refined our strategies, and surpassed expectations each year. As we look back on our journey, we are energized by the opportunities that lie ahead. Together, we will continue to shape the future of real estate financing and empower dreams. This is only the beginning, and the best is yet to come.”

One of the many successes that Mikhail created for Stratton Equities is the unique programs, lead generation model, and loan portfolio milestones. Mikhail has revolutionized lead generation and digital marketing with his innovative platform at Stratton Equities. Unlike traditional private money lenders relying on loan officers to hunt for leads through cold calls and networking, Mikhail’s system brings leads to the company daily, eliminating manual prospecting. This powerful tool generates an abundance of organic leads, surpassing the strategies of other private money-lending companies and propelling the company’s performance while enabling aggressive hiring.

Moreover, Mikhail’s platform provides loan officers with access to the largest collection of nationwide private money and NON-QM mortgage loan programs. This comprehensive offering allows them to effectively cater to the needs of real estate investors, entrepreneurs, and diverse mortgage borrowers.

Stratton Equities has received recognition within the industry for its exceptional services and expertise, as well as for Mikhail’s success. In 2021, Forbes Magazine included Mikhail in their “The Next 1000” list, celebrating individuals redefining what it means to build and run businesses today. NJBIZ, New Jersey’s leading business journal, also recognized Stratton Equities as one of the Top 250 Privately Held Companies for 2021. They further honored Mikhail as one of their 2022 Leaders in Finance, and he was nominated for the prestigious Ernst & Young Entrepreneur of the Year program.

Stratton Equities consistently achieves high levels of customer satisfaction. Through its commitment to providing personalized solutions and exceptional customer service, the company has built a strong reputation for its client-centric approach. Many clients have praised Stratton Equities for its outstanding service, professionalism, and ability to secure funding quickly. One client, John S., commended the company for its efficient processing and dedication to finding the best loan options, expressing gratitude for their personalized approach that ensured his unique needs were met. Another client, Sarah L., emphasized the team’s expertise in navigating complex financial situations, stating that Stratton Equities provided her with the guidance and support needed to secure a loan for her real estate investment. These testimonials and many more highlight the company’s commitment to client satisfaction and its track record of delivering outstanding results.

In addition to client testimonials, Stratton Equities has received positive feedback on reputable platforms such as Indeed and Glassdoor. Several employees have shared their experiences working for the company, consistently praising the supportive and collaborative work environment and highlighting the company’s dedication to fostering professional growth and providing ample opportunities for career advancement. Employees also speak highly of the company’s management, describing them as knowledgeable, approachable, and committed to the team’s and clients’ success. This positive employee feedback further supports the notion that Stratton Equities excels in serving its clients and maintains a workplace culture that values and nurtures its employees.

Mikhail’s visionary leadership and persistent commitment have solidified Stratton Equities’ position as a trusted and innovative company with high expertise, cutting-edge technology, and a customer-centric approach.

For more information about Stratton Equities, please visit their website at https://www.strattonequities.com. Follow Stratton Equities on social media on Instagram, Facebook, and YouTube @StrattonEquities, LinkedIn @stratton-equities, and Twitter @Strattonequity.


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Michael Mikhail, CEO Stratton Equities

Michael Mikhail is the Founder and CEO of Stratton Equities, the nation’s leading hard money-lender to national real estate investors, with the largest variety of mortgage loans and programs nationwide.

Having launched Stratton Equities in early 2017, Michael has always been an entrepreneur and innovator in the real estate market, purchasing his first home at 19.

A serial entrepreneur with a foresight for business opportunities, Michael had a slew of small businesses prior to launching Stratton Equities. One of his most prolific ventures was a car wash connected to a gym he was affiliated with in Florida during 2001-2002 while attending college.

It wasn’t until he graduated from Florida State University with a degree in Business, that he officially joined the mortgage industry in 2003 and decided to travel to explore his options globally.

After travelling to 19 countries in 5 years, Michael knew two things; he wanted to start his own business and launch it in the United States. He knew that moving back to the states was the best place he could start something small and grow it into something infinite.

In 2017, Michael noticed how the mortgage industry had transformed after the regulations presented from 2008-2012, and knew it was time to set out something on his own, thus creating Stratton Equities.

Under Michael’s leadership, Stratton Equities has grown into one of the biggest leaders in the Mortgage and Real Estate industry across genres and platforms.


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Magnetic Capital Announces Bow River Capital Lease Signing at 2nd & Adams in Cherry Creek

Bow River Capital signs 30,000 square foot lease in new office building
featuring a “hospitality-infused” operating model

Cherry Creek North, CO (January 18, 2024) – Magnetic Capital has announced the first office lease signing for the new 2nd & Adams office building in Cherry Creek. Bow River Capital, a Denver-based private alternative asset manager, signed a lease for 30,000 square feet, which will serve as the company’s new headquarters.


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“We are excited and honored to have Bow River Capital as an anchor office tenant at 2nd & Adams,” said Magnetic Capital Managing Partner, Chris Carroll. “They are a highly regarded investment firm with a talented team, and we look forward to welcoming them to the building.”

“We’re thrilled to be moving Bow River’s headquarters to 2nd & Adams and to be the first of many companies that will enjoy the building’s forward-thinking design,” said Bow River Capital Chief Operating Officer Jane Ingalls. “We were drawn to the focus on hospitality and elevated common areas that 2nd & Adams will provide to our team and guests.”

Construction of the 100,000 square foot mixed-use office development will begin in April 2024 with delivery scheduled for the third quarter of 2025. The project will include approximately 80,000 square feet of office space and 20,000 square feet of retail. The development team is focused on what it calls a “hospitality-infused office operating model”, with a heavy emphasis on food and beverage and the broader activation of common areas. The project will have multiple food and beverage and retail concepts across the ground floor, and the rooftop will feature a 5,600 square foot bar and restaurant, anchored by best-in-class national operators. More information about 2nd & Adams is available at https://secondandadams.cbre-properties.com/

OZ Architecture is the architect for the project, and Mortenson Construction is the general contractor. OZ Architecture recently released an article on the project here. Blake Holcomb at CBRE is handling office leasing and can be reached here.


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Cherry Creek North Dynamics: Cherry Creek North’s unique concentration of high-end retail, executive housing, luxury multifamily, and premium hotels, all within a 16-block radius, positions it among the top office markets in the U.S. today. With a vacancy rate of sub-2% and physical occupancy at ~95%, Cherry Creek contains fundamentals comparable to Sand Hill Road, Beverly Hills, and Century City. More information regarding Cherry Creek North is available at www.cherrycreeknorth.com.

About Magnetic Capital

Magnetic Capital, led by Dan Huml and Chris Carroll, is a privately held real estate investment and development company focused on developing and operating real estate assets often overlooked or undervalued by traditional investment firms. Headquartered in Denver, Colorado, Magnetic Capital is focused on development and multifamily acquisitions opportunities along the Front Range.

For more information on Magnetic Capital, please visit https://magneticcap.com/.

About Bow River Capital

Bow River Capital is a private alternative asset manager based in Denver, Colorado, focused on investing in the lower and middle market in four asset classes: private credit, private equity, real estate, and software growth equity. Through its subsidiary Bow River Advisers, LLC, Bow River Capital also offers a registered, closed-end mutual fund – Bow River Capital Evergreen Fund (EVERX) – designed to provide institutional-quality private market access to a broader set of investors. Collectively, the Bow River Capital team has deployed capital into diverse industries, asset classes and across the capital structure.

Bow River Capital Evergreen Fund is distributed by Foreside Financial Services, LLC, which is not affiliated with Bow River Capital or its affiliates.

For more information on Bow River Capital, please visit www.BowRiverCapital.com.

Media Contact: Paul Suter, Suter Media Relations
720-771-9093 or [email protected]


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Targeting Properties – For Sale By Owner (FSBO)

By Tamera Aragon

One of the longest proven successful ways to get good leads as a real estate investor is calling on For Sale by Owner (FSBO’s) listed properties. In my experience, I have found great success in helping FSBO’s with their situation while at the same time buying discounted real estate. If you are on a budget and just getting started then you can do this yourself, or if you can at all afford it, I highly recommend you hire someone like a virtual assistant to do it for you.


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Why Are FSBO’s Good Leads?

Often times homeowners who place their house on the market without a realtor ( FSBO’s), are in a position where they need to sell a home quickly. When this happens, you are able to help them by closing quickly with cash, while at the same time, you receive a great discount. There are many reasons a homeowner might need to sell quickly. Some are trying to avoid getting behind on payments, some are already behind on payments, others need to immediately move to new location for job, some received a property gifted through probate, may be experiencing illness or maybe the landlord doesn’t want to own a property for rent any more, etc. Whatever the specific reason a person doesn’t utilize a realtor and place their property for sale on the MLS, Craigslist, Kijiji or even EBay, it is likely there is an opportunity for you to get a great wholesale deal.

Where Do You Get FSBO Leads?

The first step is to locate the properties not listed on MLS, however for sale by the owner direct. How do you do this?

1. Classified Ads Online: There are several online classifieds such as Craigslist.org or Kijiji.ca or backpage.com and many others. It’s so easy to search the internet for this stuff just type “your city” properties for sale by owner; see what comes up in the Google and Bing search engines!

2. Newspaper classifieds: Checkout newspapers in the areas you would like to buy. (also often available online)


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What Do You Do Once You Have The Locations For Leads?

A. Grab a copy of the FSBO magazines offered for FREE in grocery stores. These could be great leads as someone is paying a lot of money to put their house in a magazine. I view this as sign that the owner could be a motivated seller.

B. Go the websites of newspapers and look at their classified section online. You can put these links in your favorites.

C. Visit FSBO online websites. Here are a few sites I like:

  • Owners.com
  • ForSaleByOwner.com
  • FSBO.com
  • HomesByOwner.com
  • Trulia.com

You will want to check the FSBO sections in these resources daily. If there is a good real estate deal for sale, it will be sold quickly to the person who acts quickly – You!

What Do I Look For In A FSBO Deal?

All ads listed could be potential investments. To save time however , you want to be looking for keywords or phrases that indicate the seller has a motivation to sell or is showing signs of flexibility. Here are a few examples of keywords to watch out for:

“Must sell” “Just reduced” “For Sale Or Lease” “Seller Financing” “Fixer Upper” “Handyman Special”

Create Your Motivated Seller “Hit” List

This is a list of those you will want to contact to find out more about the property and the seller’s situation. If using paper (like a newspaper in hand), you will want to mark the ads with your sharpie or highlighter as you are scanning the paper for those “motivated” words listed above. Mark as many ads as you can! It is better to have too many leads than too few. If online- – -copy and paste the ads found on newspaper, classifieds and FSBO sites to a word or excel doc, then print it out. Remember having too many leads is a good thing as it keeps your options open.


Tamera Aragon

Tamera Aragon is a professional online entrepreneur and has bought and sold over 300 properties, establishing her as an expert in the real estate investing field. Since 2003, she has purchased over 10 million dollars in real estate and currently holds properties all over the world. Tamera’s focus is on the booming Foreclosure market, buying Pre-foreclosures, REOs and Short Sales. Tamera who is a noted Author, Success Trainer, Speaker & Coach, shows her passion for helping others with the 17 websites she has created and several specialized products to support fellow investors throughout the world. When Tamara is not busy running her website, she is very involved with her Fiji joint ventures and investments. Tamera Aragon is one of the few trainers and coaches who is really “doing it” successfully in today’s market. Tamera’s experience has earned her a solid reputation in the industry as well as the respect and friendship of many of the top national real estate investment and internet marketing experts. Tamera Aragon believes her success has garnered her the financial freedom to fully enjoy her marriage and spend quality time with her children.


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Stratton Equities is Hiring Mortgage Loan Officers to Join Their Dynamic New Jersey Team and Build a Lucrative Career in the Mortgage Industry

Stratton Equities is looking for loan officers who are ready to say “yes” more and to work with a company that’s invested in their success.

PARSIPPANY, N.J.–(BUSINESS WIRE)–Stratton Equities, the Leading Nationwide Private Money & NON-QM Mortgage Lender, is excited to announce that they are seeking experienced Mortgage Loan Officers to join their headquarters in New Jersey.

This is an incredible opportunity for skilled professionals who want to work with a company that guarantees abundant direct organic daily leads, hands-on management training and support, niche mortgage loan programs with competitive pricing, and advanced mortgage technology.

Mortgage Loan Officers can expect to close their first loan within four to six weeks after the completion of their initial training.

Mortgage Loan Officers who join the Stratton Equities team can expect the following:

  • Stratton Equities provides Mortgage Loan Officers with inbound organic daily leads from borrowers who call or apply directly to their offices inquiring about a mortgage. Not the other way around.
  • Competitive compensation: Stratton Equities offers a highly competitive compensation plan, potentially allowing Mortgage Loan Officers to earn their first year $110,086.26 – $190,677.36.
  • Robust support: Stratton Equities provides Mortgage Loan Officers access to the most extensive library of nationwide private money and NON-QM mortgage loan programs under one roof. This gives multiple solutions to offer borrowers, allowing Mortgage Loan Officers to say “YES” more.
  • Strong resources: Stratton Equities’ interest rates are some of the lowest nationwide in private lending, starting at 6.75%, and can pre-approve a loan in 24 hours.
  • Room for growth: As a rapidly growing company, Stratton Equities offers ample opportunities for advancement and career growth. With a focus on promoting from within, Mortgage Loan Officers who join the team will have the chance to take on new challenges and responsibilities as they progress in their careers.
  • A dynamic work environment: At Stratton Equities, Mortgage Loan Officers will work in a fast-paced, dynamic environment focused on innovation and results. As a part of the loan officer team, you can work directly with prospective real estate investors, entrepreneurs, and borrowers on their real estate endeavors.

If you are an experienced Mortgage Loan Officer looking for an exciting new opportunity to grow your career or a licensed Mortgage Loan Originator that is new to the industry and needs help finding business, then Stratton Equities is the place for you to earn a great income.

This is an incredible opportunity to join a leading nationwide mortgage lender and build a bright future with a company that values its employees and their contributions.

For more information about Stratton Equities, please visit https://www.strattonequities.com.

To apply for a position with Stratton Equities, please visit their careers website at https://www.loanofficerscareers.com. Or you can email a resume to [email protected].

Follow Stratton Equities on social media on Instagram, Facebook, and YouTube @StrattonEquities, LinkedIn @stratton-equities, and Twitter @Strattonequity.

Contacts
For media inquiries and interviews, please contact Kelly Bennett of Bennett Unlimited PR at [email protected].