Join Us to Meet with Fantastic Companies and Network with Experienced Real Estate Investors — Realty411 has Reached Thousands Since 2007
Date and time Saturday, February 17, 2024 · 9am – 3pm PST
Location The Cliffs Hotel & Spa 2757 Shell Beach Rd Pismo Beach, CA 93449 United States
Refund Policy Contact the organizer to request a refund. Eventbrite’s fee is nonrefundable.
About this event 6 hours Mobile eTicket
Discover the Latest Insight, News and Investment Strategies at Realty411’s National Investor Summit in Southern California.
Investors, join us for exciting news, insight and networking at Realty411’s new in-person investor summit in one of the most beautiful areas of California, the Central Coast. Our special one-day conference will host incredible educators from around the country, who are ready to share their valuable insight with our guests.
Since 2007, Realty411 has united thousands of investors from across the nation. Guests will receive our latest publication featuring wonderful resources, insightful news and educational articles.
While the mainstream media is focused on high interest rates, we know this is the best time to locate and purchase properties in California and around the nation. The money is made on the buy — by purchasing the right properties. Do you know what they are? We’ll teach you insight that only real estate investors with years of experience can share.
Be sure to download the latest Realty411 to learn more about real estate investing, CLICK HERE.
Now is the moment to grasp this opportunity — the chance to network with sophisticated investors from California and around the country. Ticket holders can upgrade as a VIP Guest ($27) and join us for a networking breakfast at 8:30 AM. The event begins promptly at 9:30 AM
Be sure to pencil this date now and join us in-person to gain specialized insight and knowledge. The information shared on this day could catapult your portfolio to new levels. Discover our new property portal, our VIP perks, plus connect with new and past industry resources.
This one-day conference has something for everyone regardless of their experience level in real estate. Join this memorable day and receive knowledge for a lifetime.
Learn the Latest Niches in Real Estate + Connect with Influential Investors from across the nation right here in Southern California.
Are you ready to Grow Your Real Estate Business, Portfolio and Network?
We want this VIP EVENT TO EXPAND YOUR MIND and help you succeed.
This is Your Chance to meet TOP Leaders in REI, Local & National Experts:
Learn from Leaders & Industry Pros
Meet Local PLUS Out-of-Area Investors
NON-Stop Tips for Real Estate Success
Bring Lots of Business Cards
This event is produced and hosted by Realty411.com. Our company is based in Central California. Since 2007, we have dedicated our time, resources and energy to help expand real estate investing knowledge and education by producing complimentary magazines, virtual conferences, webinars, podcasts, and live events.
We also produce REI Wealth magazine, which is the longest-running magazine for investors specifically developed for online readership. Our digital, interactive issue is designed to be read and viewed online, CLICK HERE.
INVEST YOUR TIME HERE FOR ONE SPECIAL DAY OF NETWORKING & MOTIVATION – TAKE YOUR REAL ESTATE KNOWLEDGE TO A WHOLE NEW LEVEL.
Learn from NEW speakers and new topics — What can expect?
Receive the latest REI knowledge from active investors
We feature the latest technology to expand your income
Meet other investors with common goals and mindsets
Develop relationships with leaders in the industry
Share your opportunities with potential clients
Learn how to save money with our Realty411VIP.com members’ network — must have a special code when ordering
Realty411’s publisher has owned national rentals for many decades
We will share life-changing information unavailable anywhere else
We host in-person events to meet our readers and to spread knowledge
Our mission is simple: To provide realty knowledge and resources so that everyone can learn about the benefits of investing.
OTHER SPECIAL BONUS PERKS INCLUDE:
Early-Bird Guests Receive Our Investment Magazines (while they last!)
Meet Local Leaders & Industry Giants – From Coast to Coast
Influential Real Estate People & Business Owners Are Attending
Learn How to Leverage and Meet Private Capital Lenders
Find Potential Partners, New Friends, Build Your Circle of Influence
Your Net Worth = Your Network — Don’t miss this event
Mingle with Leaders & Industry Professionals Here
Please bring LOTS OF BUSINESS CARDS, it’s time to Network! Learn more about our magazines and our company sponsors and resources:
Discounted parking available. Upgrade to a VIP ticket to enjoy special bonuses.
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It is no surprise that mortgage rates have dramatically increased over the past year. In July 2022, 30-year fixed rates for both conforming and high-balance loans had reached 5.375%, according to sources such as Guaranteed Rate. This is up from the low 2% range in early 2021. Obviously, such an increase in rates can have a dramatic effect on house prices as would-be buyers try to buy a house they can afford.
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However, the rise in interest rates goes far beyond just what buyers can afford for a new purchase. First, adjustable-rate mortgages will climb dramatically, which will impact homeowners trying to make sure they keep up with their mortgages by not going into default. Next, the whole reason the Fed increased rates was to stave off even more inflation than the country had been experiencing since the change in presidency. Here is where we might see a rise in non-performing loans [NPLs], as homeowners fight to keep up with inflation as well as rising interest rates that impact mortgages and other borrowings [credit cards, auto loans, etc.].
During The Great Recession, the U.S. saw a huge wave of defaults with mortgages; primarily, this was due to a credit bubble, as lenders were too eager to make loans. Very little oversight was seen regarding these loans, and borrowers who should not have been granted loans still qualified. Fast forward 15 years, real estate prices have increased substantially to overcome the devastation of the previous drop.
Banks, thanks to Dodd-Frank, are now only allowed to make loans to borrowers who can demonstrate an ability to repay. All of this makes for a strong real estate market, and we should not experience the wave of foreclosures we previously saw; however, that does not mean we will not see them.
As noted above, when there is a spike in interest rates [and inflation] as we have recently experienced [and potentially more increases to come], homeowners can get behind in their mortgages, and without the government moratoriums that were in place during Covid, banks will have to start foreclosing, or sell off mortgages to keep within Federal guidelines of Reserve Requirements. The banks may try and work modifications or other remedies to assist homeowners, but there are times when there is not much the bank can do except file notices of default and start the foreclosure proceedings.
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One major difference in today’s real estate world as compared to The Great Recession is that, today, many homeowners have ample equity in their houses. This gives the homeowner the possibility of preserving some equity by selling their house rather than get foreclosed on. However, many homeowners around the country, mostly in the lower end market, will still lose their house in foreclosure. One reason is that the homeowner has not researched the value of their house; they just assume that if they cannot pay, they lose the house. Another is that some homeowners are headstrong about staying in their house and trying to fight a legal battle only to be on the wrong end and, by that time, it is too late to try and save their equity. These situations are unfortunate, as, even when the lender points these things out, many borrowers stick their head in the sand and let the chips fall where they may.
Investors have been clamoring for yield. So much so that even NPLs were commanding unheard of prices [as much as 85% of face value]. As the economy was doing well [pre-Covid], real estate prices were steadily increasing and there was confidence in the marketplace. However, in “normal” times, one might offer 50% +/- of the face of the NPL note, as there is a fair amount of work that goes into managing a NPL regarding foreclosure, forbearance, modifications, bankruptcies, and possible lawsuits by the borrowers. As interest rates rise and the supply of NPLs is sure to increase, one should expect the prices of the NPLs to decrease – – allowing investors to potentially pick up handsome profits.
In the early 1990s, the S&L crisis provided such opportunities to investors swooping up “bad loans”, as the S&Ls were directed to unload these mortgages into the market very quickly. As the dust settled, as it usually does after wide pendulum swings, these investors profited, as they picked up loans [or property if the foreclosure had already been completed, and the bank held the asset as an REO] at discounts that were previously only imaginable. Discounts of more than 60% were not uncommon. At such a discounted price, the investor appeared to not take any undue risk. There was so much room for error, almost any loan to be purchased was worth it.
We may not be in that same situation now due to restrictive banking regulations that have been imposed on banks for years, prohibiting them from making unreasonably risky loans and the fact that real estate has held its own since The Great Recession, but there should be plenty of opportunity for investors to pick up discounted loans with fairly large margins built in; however, the average investor is prohibited from participating in buying these loans due to the relatively large amount of capital needed to enter this space. For example, a large bank or hedge fund willing to unload NPLs may require a buyer to invest a minimum of $1,000,000 or more. If there is a bidding situation [auction], a refundable deposit is usually required, so the bank/hedge fund knows they are dealing with serious, wealthy buyers.
For those investors who have the wherewithal to participate in purchasing NPLs, they should have a sophisticated team to assist them, as there will be a need for analysts to do a deep dive in the values of the property to which the loans are secured, contractors to help facilitate potential rehabbing of the property if/when the property reverts to the investor, legal analysts dealing with the various foreclosure laws in the states where the properties are located, and good real estate sales people to not only give BPOs — but also help facilitate the eventual sale of the property or assist with the possible rental of the same [or find a good management company].
One strategy to consider is to approach the NPL borrower and try to re-write or modify the loan [of course, before doing so, consult with competent legal counsel to make sure that there are no legal issues that would compromise the collateral]. There are a few benefits to this strategy; first, turning a NPL into a performing loan brings immediate cash flow. Because of the discount that is obtained in the purchase, the new note holder has the flexibility of making the note more attractive for the borrower. For instance, if a note [that has a face value of $100,000] has 20 years to go and has a note rate of 6% was purchased for 60 cents on the dollar from the bank, the new note holder could offer to lower the balance to $90,000 and reduce the interest rate to 5% and have a great asset that can either be held for cash flow or sold in the secondary market.
One additional factor that may help in modifying the NPL’s notes is the fact that, according to Bank of America’s internal data, rents continue to rise. July 2022 year over year showed an increase in rents of 7.4%. Most people want to keep their home. If the lender can give them advantages to saving it, most homeowners will jump at the chance, especially when their alternative is to be thrown into a rising rent market. A question the lender has to contemplate is whether the strategy of keeping a homeowner in their home makes economic sense [ignoring the moral issue of eviction]. In some cases, evicting a homeowner and immediately selling the house may make sense.
In some cases, the lender may choose to invest money in rehabbing the property in hopes of additional gain, but there is uncertainty with this strategy; the time it takes to rehab, the expense, and the value of the house after rehab and time to sell [with expenses associated with the sale]. When a homeowner is going to get foreclosed on, there are avenues that can be taken to delay the inevitable, including filing bankruptcy. Due to court budgets, this delay may be prolonged more than the lender originally anticipated, especially in judicial-only states.
The time and expense for entering into foreclosure for the lender may not be worth the anticipated profit; however, the strategy of keeping the homeowner in place and working out a new deal can produce immediate cash flow, as the borrower will start making payments right away. In addition, the costs to modify a note are substantially less than what foreclosure costs would normally be.
The good news from the lender’s point of view is that, due to the purchase of these loans at steep discounts, rates of returns in excess of 15% are not uncommon. After the note is modified, the lender has the option to flip the note to a note buyer as a performing note [which will command a higher price than an NPL], or the lender may choose to keep the note for the cash flow. In the case of choosing to sell the note, the lender may be wise in waiting to experience six months of performance by the borrower, as most note holders desire to see notes that have at least six months’ seasoning; otherwise, they may discount the note for uncertainty reasons [lack of history] more than the lender desires.
MEET EDWARD BROWN
Edward Brown currently hosts two radio shows, The Best of Investing and Sports Econ 101. He is also in the Investor Relations department for Pacific Private Money, a private real estate lending company. Edward has published many articles in various financial magazines as well as been an expert on CNN, in addition to appearing as an expert witness and consultant in cases involving investments and analysis of financial statements and tax returns.
Edward Brown, Host The Best of Investing on KDOW AM1220 on Saturdays at noon.
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 page, CLICK HERE.FacebookTwitterShare
https://www.realestateinvestormagazines.com/wp-content/uploads/2023/11/non-performing-loans.jpg5001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2023-11-28 05:08:202023-11-28 05:08:23The Rise of Non-Performing Loans and Opportunity for Investors
Starting in the late 1970s and up through the 1990s pitchmen were all over television extolling the ease at which you could “become rich in your spare time” if you just followed their real estate investment “program.” After 52 years in the real estate investment business, I know of no one who became rich through real estate quickly (I am sure some investors got rich quickly through luck, but I have never met one).
I do know a lot of people who became rich using real estate as their vehicle. They all earned it by working hard and putting in years of devotion.
This article for Realty 411 is for all of you who have not yet become a millionaire in your “spare time.”
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What does all this have to do with cockroaches?
When it comes to being able to survive and expand its operations, nothing has ever surpassed the lowly cockroach. Despite chemical warfare, I often find them in my houses after tenants vacate. Some tenants seem to cohabitate with cockroaches intentionally (and quite well)!
In New York’s Museum of Natural History, they used to point tourists’ attention to a pickled roach between the toes of their biggest dinosaur to demonstrate that roaches have survived in the same form since the period before dinosaurs stalked the Earth.
This means that cockroaches lived on even after the mass extinction of the dinosaurs. For perspective, man has been on Earth during only 1% of the time that cockroaches have existed on the planet!
How have cockroaches survived?
How have cockroaches survived so successfully for millions of years? 1). It never challenges anything bigger than itself 2). It stays out of sight 3). It can survive for lengthy periods under adverse conditions or in a hostile environment 4). It is fast and elusive 5). It lives in the cracks of society never calling attention to itself 6). It reproduces quickly and with ease 7). It can make a meal out of about anything organic regardless of how unappetizing!
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What can we learn from the cockroach lifestyle?
We small investors must be adaptable, maintain a low profile, and be prepared to move quickly when either an opportunity or danger presents itself. We must be able to recognize opportunities, whether foreclosures, rehabs, discounted paper, single-family house opportunities, or value-added property prospects. We must also avoid hostile environments (and hostile tenants) which are high on risk and low on rewards.
You can skip “make a meal out of about anything organic”. I don’t recommend that.
About those Pitchmen
I knew a real estate guru once that bragged that he bought a property every month. He later confessed that he felt so obligated to follow through with that public statement that he would buy bad deals just to “keep up his image” as a monthly property buyer.
Be patient, be diligent, analyze, and then act. Some investors never succeed because they catch the “paralysis of analysis” fever. They buy books (sometimes they even read those books they buy), attend meetings, talk with other investors, analyze data, buy mentor programs, and never buy any real estate.
I encourage you to learn more by going to my FREE online training at www.landtrustwebinar.com/411 and text the word “reasons” to 206-203-2005 for my free booklet, Reasons to Use a Land Trust. You can also reach me the old-fashioned way by calling me at 217-355-1281. (I actually answer my own phone, unlike most other businesses in America today!)
Apply these lessons from a cockroach lifestyle and you WILL succeed!
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 Realty411.com or our Eventbrite landing page, CLICK HERE.
https://www.realestateinvestormagazines.com/wp-content/uploads/2023/11/cockroach.jpg4001000dulcehttp://www.realestateinvestormagazines.com/wp-content/uploads/2013/04/logo.pngdulce2023-11-21 05:06:122023-11-21 05:06:15Behold the Cockroach – It has survived and thrived
It is a fact that it is hard to break out
of the middle class and become wealthy. There are many obstacles that must be
overcome. The good news is that most of these obstacles can be easily overcome
through education. Not formal education, high school, or college, but from
self-education.
I was born and raised middle class. The
strategies that the middle-class implement were engrained in my head.
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The strategy was to do well in high school,
go to college, get a job, scrimp, and save in an IRA or 401k, work for 45
years, retire, and live off of your savings. This was the map I was given. I
bet that map sounds familiar to you, doesn’t it? All middle-class people are
given this map. The problem is the map doesn’t work. Ninety-five percent of
Americans fail to retire by age 65 using this map. The average savings for a 65-year-old
is less than $200,000. No one can retire with that amount of money.
What opened my eyes was after working for
the same company 70 hours a week, for 5 years straight, I won a national sales
contest. They sent me to Hawaii for a week. When I got back, they cut my pay by
$20,000 a year. This woke me up that the map was wrong. I had to do something
different. I began self-educating. I bought every book and tape program off
late-night TV on real estate investing. Within 2 months I was making more money
than at my job. I quit the 70 hours a week immediately. It saved my marriage by
the way.
Here are six things that I learned that
keep the middle-class, middle-class.
Number 1:
Thinking you can
cheap your way through life and save enough to retire.
People cut coupons, conserve water and
electricity. They drive across town to save a dollar on tomatoes. They think
they can be cheap and save their way to retirement. This is just not true. You
may be able to save a few hundred dollars a month being cheap, but think about
it, can you live off a couple of hundred dollars a month in retirement?
Let’s do the math. Let’s say you work from
age 20 to 65 (45 years). You make an average of $100,000 a year. Less at the
beginning, more toward the end of your career. That is $4.5 million over the 45
years.
Let’s say your average expenses were $5000
a month. That is everything from food to mortgage.
How much could you save?
Income: $4.5 million
Taxes: @23% $1 million
Expenses: $5000 a month $2.7 million
Max Savings: $800,000
Using the 4% rule that would give you about
$32,000 a year in retirement plus your social security which would be around
$2000 a month. That would give you less than $5000 a month in retirement. You
would have no money for romance, travel, or anything fun. This would be a
horrible retirement by any definition.
It is nearly impossible to save your way to
retirement. The numbers just don’t work. What you need to understand is that
you don’t have an expense problem, you have an income problem. You just don’t
make enough money.
Put the coupons down and read a book on how
to make more money. That is why I started investing in real estate. I realized
the system was flawed. I focused not on saving money but making more money.
That is what is effective.
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Number 2:
Thinking a job is
there to build wealth.
The middle class think that a job is a way
to build wealth. It is not. They think they are going to climb the corporate
ladder to success. This success story is so rare, it is not even worth
mentioning. Waiting for people to die, get old, retire, or get fired so you can
move up is futile and ineffective.
Why do people think they can do this?
Because when someone does do it, they publicize it as the norm.
I used to look up to Jack Welch of GE. I
wanted to be like him. The press promoted him and bragged about his $100 plus
million paychecks. They did not let you know that he had 150,000 employees that
were just barely surviving.
This is much like the casinos that when
someone wins $1 million, they promote it all over the place not mentioning the
other 10,000 people that were losing money at the exact same time in the exact
same casino.
Plus, imagine playing Monopoly and just
circling the board and collecting your $200 paycheck every time you passed go.
Would you ever win the game? No. To win the game, you can’t just depend on a
paycheck. You must buy income-producing assets such as rail roads, utilities,
and real estate. It is the same in real life.
Number 3:
Thinking high
school and college teach you about building wealth.
The sad truth is neither high school nor
college teach you anything about building wealth. They teach you how to get a
job and nothing more. That is what they were designed to do.
You are responsible for your financial
education. Jim Rohn put it this way. “Formal
education will make you a living, self-education will make you a fortune.”
Seventy percent of Americans never read a
non-fiction book after high school or college. This is a huge mistake. They
think they know everything, and they end up broke at 65.
You must read, listen, and attend seminars
and workshops if you are going to learn the rules of money and wealth.
Number 4:
They waste massive
amounts of money trying to impress others.
The “keeping up with the Joneses’” costs
the middle-class billions a year. Constantly upgrading their clothes, watches,
cars, and homes to impress people who don’t even care.
Remember this point: “Dance like no one is
watching. They aren’t.” This is very true. They just don’t care. They have
their own lives and problems to worry about. They don’t care what kind of car
you drive or where you live. Stop trying to impress others. It is a waste of
time and money.
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Number 5:
Buying toys first
and assets second.
The middle-class has it backwards. The say
this to themselves. “I will buy all the things I want first, and then I will
start saving and investing.” It doesn’t work. By the time they buy the clothes,
watches, cars, and houses, they are living paycheck to paycheck. There is no
money left over to save and invest.
The people who end up wealthy buy assets
first, and with the profit from these assets, they buy the toys.
I have never made a payment on my boat, Ferrari,
or beach house. My assets pay for them.
Number 6:
They fall victim
to lifestyle creep.
Do you remember in your 20s and 30s when
you made very little money and lived paycheck to paycheck? Of course. You
didn’t make much money, so it makes sense.
However, it is 20 years later, and you are
making 3 times as much but you are still living paycheck to paycheck. Where did
that other money go? Lifestyle creep.
When you got your first raise, you decided
to buy your first home and took on a mortgage way higher than your apartment
rent.
You got your second raise and now you
needed a nicer car. Maybe a BMW.
You got your third raise and now your kids
are not in the right school district, so you must buy a more expensive home in
a nicer subdivision.
Are you starting to see what’s happening?
Every time you get more money, you are spending it to improve your lifestyle
leaving you continually living paycheck to paycheck.
These 6 things combine to keep the
middle-class middle-class. It is a sad situation but can be solved fairly
easily by stopping the madness.
Be aware, I did every one of these things
at one time or another and I turned my life around very quickly by stopping.
You can too.
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 page, CLICK HERE.
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Are you looking into how to buy a mobile home for real estate investing? First, you need to understand whether or not buying a mobile home will be a worthwhile investment. If you follow the proper steps for mobile home investing, it can certainly be a profitable business venture. Before getting into the steps you need to take to have a profitable mobile home real estate company, let’s first look at the pros and cons of investing in these types of properties.
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Pros of Investing in Mobile Homes
Mobile homes are advantageous because
they are cheaper than investing in other types of real estate. Because
they are mass-produced and not built one-by-one like homes, they cost
much less than traditional houses.
Because they are less expensive, you
may be able to invest more money in making them a little more modern.
You can add things like granite counter, hardwood floors, and updated
appliances with the money you save from buying mobile homes. This
increases the value and helps get them rented or sold faster.
As house prices rise across the
country, more and more people are looking for affordable options. As a
mobile home real estate investor, this puts you in a uniquely profitable
situation. Mobile homes are beginning to be seen as a viable option to
replace a more expensive traditional house. Even better, mobile home
tenants tend to rent for more extended periods of time than those in
apartments or traditional homes. This helps you avoid lost rent between
tenants.
Cons of Investing in Mobile Homes
Unfortunately, many people view
mobile homes in a negative light. They do not see them as respectable
options for homes. This view is slowly changing, but it is something to
keep in mind. You simply won’t have the same demand for mobile homes as
you would a traditional property.
Mobile homes can quickly become
costly if you invest in the wrong property. Some mobile homes may
require you to buy the land you want to keep it on. This is something
you need to keep in mind when determining your expenses and return on
investment. You should also note that, unlike houses, mobile homes
depreciate in value relatively quickly. This is great if you want to buy
an old mobile home and fit it up, but not great for resale value if you
ever want to get rid of the property.
Finally, you may run into trouble
trying to finance your mobile home. Traditional lenders often won’t fund
you the way they would if you were buying a traditional house. If the
mobile home you are buying does not already come with land, it’s likely
you will not receive financing. This is something you need to consider
before jumping into buying a mobile home.
Now that we’ve got the benefits and
drawbacks out of the way, we can look at improvements you can make to
mobile homes. These will help raise property value and allow you to
charge more for the mobile home. This can help you develop a good
revenue stream and allow you to grow your real estate investment
portfolio.
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Improvements to Increase the Value of Your Mobile Home
Attic
The attic of a mobile home is
probably the most overlooked area, but it has some great potential. Even
if you don’t have the room to build a full-sized building on top of
your home, you can easily create a multi-level living area by installing adequate insulation
on the interior walls. One way to boost your home’s value is to build
an attic loft and add an elevator or stairway connecting it to the
ground floor.
Conversion
A second option for upgrading your
home is to convert it to a larger house. In this scenario, you would
tear out the interior walls and put in new ones. The following are some
other types of conversions that can be beneficial: A sunroom (to create
more living space), an addition on the side (to add more bedrooms), a
deck area (to create outdoor living space), and a basement expansion (so
you have a place to keep all of your possessions that aren’t stored in
the attic).
Upgrades
A third option is a simple upgrade of
the home’s interior. The first thing to do is keep the original ceiling
and replace it with a higher-quality material, such as wood. Some other
upgrades that can be made to the structure include vinyl and natural
flooring, new bathroom and kitchen fixtures, new doors, appliances, and
cabinets.
Landscaping
If you are looking to make your
mobile home more appealing, you should focus on the building’s exterior.
There are plenty of ways that you can upgrade your property to make it
more attractive. You can change out the landscaping, which will provide
an area of privacy and allow for greater land value. One way to make
landscaping more appealing is to add a deck or patio area to have a
designated area for outdoor living space.
Exterior lighting
Another significant exterior
improvement is the addition of outdoor lighting. Lighting can also boost
your home’s value because many buyers prefer homes with street lights,
walkways, and security lights. Your home’s lighting should be made up of
high-quality, energy-efficient HID bulbs to ensure that it is both safe
and functional.
Front Porch
The front porch is a large area that
can be made into a place to entertain or relax. Adding a new roofing
material to your home’s exterior above the porch can give it a facelift
while also bringing in some more value. There are many types of roofing
materials, but the most popular is asphalt shingle. Be sure to get a
warranty with the roofing installation, so if something goes wrong with
it, you can fix it.
Fencing
The final exterior upgrade is
fencing. Fences are a great way to increase the value of your home while
also giving it some privacy and protection. A fence can be made from
many materials, but most are either wood or vinyl.
These are just a few of the ways that
you can go about upgrading your mobile home and making it more
valuable. Just remember to keep the safety of your customers in mind.
Advantages of Mobile Home Investing
There are several advantages to
investing in a mobile home. As stated before, they are cheaper than
investing in another type of real estate. They are easy to find and can
be located in more appealing areas. They can be bought for less than
they cost new. If you don’t have the money to buy your home new, you can
get one that is pretty close to new for a lower price. In addition, you
can find mobile homes that are in great condition and ready for someone
else to move into. That is a rare opportunity to buy a piece of real
estate and have someone else pay you to live in it.
What Determines a Good Property Investment
There are many important factors to consider and evaluate when determining whether or not a home is a good investment:
The property must be located in a strong, healthy real estate market.
The property must offer the potential for both upside and downside growth with a low vacancy rate of tenants.
The property must be professionally managed to keep vacancy rates low and the property in good shape.
The property should be purchased below market value (what it would cost you to build, if ever).
The cash flow should exceed at least 5% per month, preferably more like 15% or 20% per month.
For most people, the ideal investment
would be a home that provides long-term value growth (appreciation) but
with modest increases in monthly income (cash flow).
Tips for Buying Used Mobile Homes
There are several tips that you can
follow if you want to be successful when it comes to buying used mobile
homes. First, make sure you take lots of pictures of the mobile home and
its surroundings so that you can genuinely get a good idea of what it
looks like. Additionally, don’t go into negotiations thinking that the
seller will give you a good deal. Instead, make an offer that you think
is fair, and you can live with. Lastly, remember to avoid being taken
advantage of by people trying to sell you used mobile homes for a lot
more than they are worth. When considering a price that seems fair, look
into recent sales on comparable mobile homes in the area. Take into
account what you plan to make through renting it or reselling it, and
make sure the return on investment is high enough.
Tips for Selling Used Mobile Homes
The following tips will help you
maximize the profit in your mobile home. First, make sure that there is
nothing that needs to be repaired before you sell it. Make any necessary
repairs or changes to ensure that it sells for a profitable and fair
price. Additionally, make sure that you clean out the mobile home of any
personal items. If it is presented as clean and not in need of any
repairs, it will be easy to get someone to pay you a fair price. Lastly,
be entirely transparent about the mobile home and anything they need to
know about it. Buyers who view you as untrustworthy will not want to
buy from you.
Process of Buying a Mobile Home
Conducting a simple investigation
online can help you learn how to buy a mobile home, which is relatively
easy. Once you find a mobile home, you can sign a contract immediately
to ensure that the mobile home doesn’t get sold to anyone else. Once
the contract is signed, the seller will need to provide information
about the property. This information includes details such as who owns
the property and if there are any liens against it. Once all of this
information has been collected, the title will be transferred, and the
buyer will have control over the mobile home.
Summary
When you are looking for a mobile
home, it can be a daunting task. However, if you remember to think about
your needs first and then look at the available mobile homes, it will
make the experience much more enjoyable. Additionally, remember not to
fall victim to scams while looking at mobile homes. Do your research to
find good areas to invest in mobile homes. Understand the best
investments that work with your capital and what you expect to make from
your investments.
Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors.
RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.
Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping, R stands for Rentals and Retirement, and Wholesaling Real Estate.
“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone, I am CERO generation, usually people say, I am first or second generation but I was the one that crossed the border, no language, no friends, no family, no money, nothing, nada… If I can do it, anyone can.”
From a young latino immigrant to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.
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 page, CLICK HERE.
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I have been buying and selling residential real estate as a real estate investor for almost 7 years now. I have invested in just about every avenue of real estate investing from Pre-construction, Assignments, Tax liens, Rehabbing, Probate, Bankruptcies, Pre-foreclosures, Short Sales, Foreclosures and REOs, Buy & Hold, and FSBO’s. I have profited from literally all of these strategies and showed others how to as well.
However, lately I have learned about a twist to an old strategy, one that I had heard about, but never done. Buying land and re-selling it via owner financing for a monthly profit, is the new real estate investing strategy. It goes even further, after you buy it and sell it with owner financing you can then eventually flip this property to another buyer. I picked this up from Jack Bosch, who has closed over 5400 land deals himself and I think he is on to something!
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I have found the biggest stopping points for many of my new real estate investing students are usually:
#1 – The risk of getting into something they cannot find funding for and letting people down #2 – Getting into a deal and finding out later something was missed, causing financial loss.
Many new real estate investors are frozen stiff because of these fears. It is for this reason I’ve listed some of the reasons a real estate investor might want to add land flipping to their portfolio of investments.
Why Land Flipping Might Be Better
There is virtually no competition for land, especially rural land. This area of investing is over flowing with a lot of opportunity – there is an abundance of forgotten land out there that sells for cheap! You can purchase land for literally pennies on the dollar.
With land you do not have to know as much about real estate like construction, termites, mold and all the other things of that nature that you must know when investing in houses.Here are some compelling reasons to add land flipping to your real estate investing portfolio:
Very low, (or sometimes none), acquisition costs
Lower risk – limited money down to lose
Lower inspection requirements
Quicker closings
Less initial capital output
Buyers are usually more savvy investors
Good Potential for monthly residual income with your owner financing
Usually no upkeep required
Usually low holding costs (no fire insurance, fix up, utilities involved)
Higher number of buyers are repeat buyers (compared to home end buyers)
Why Houses Flipping might be Better
For some real estate investors flipping houses might have been the first investing niche that they started in. Let’s list the major reasons why house flipping is a good investing strategy:
More potential to generate income while you hold it – owner financing or renting
Everyone needs a house since shelter is a basic necessity of life. Not everyone needs vacant land
Potential to profit big doing just one good deal
Potential for higher monthly residual income per property
A lot more home owners in desperate situations than there are landowners.
Compared to the land flipping, house flipping might seem better, but the acquisition and maintenance cost are much higher for house flipping. Another thing to note is that land flipping profits on average, are lower than house flipping, and you must do more deals to profit higher dollars.
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Research the Region
Look for these market positives when investing in both land and housing deals:
Unemployment rate in the area of purchase is low compared to the national unemployment rate
Be sure to keep your ears open for news of major business expansions
General area & its population is growing and expanding. If it is, best if the area is expanding in the direction of the property you are interested in buying
Talk to the city and county planning and zoning agencies where the property is located; they will be able to give you valuable information about area growth and building projections.
6 Ways to Minimize Investing Risks
Here is a list on how to lower your risks for investing in houses or land before closing on any deal:
Run necessary tests and inspections depending on specific area and property
Check with county records to verify no complaints or notices for required repairs are filed
Make sure you work with contract escape clauses to assure you can walk away for any reason.
Avoid giving check or cash money down until you are positive you are going to close.
Make sure that your purchase contract is worded in such a way that it allows you to only transfer cash at the time of closing.
Make sure the title is not “cloudy” and property is marketable. Remember IRS liens have to be paid! If you buy a property with those liens, that bill becomes yours. Do your due diligence in running a title report before closing.
Land and House Flipping Similarities
In summary, you can follow a lot of the same strategies marketing to land owners as I’ve always done buying & selling to home owners. The best type of deal, whether land or houses, is when the seller, for one reason or another, wants a quick & easy way out of the obligation of owning their house or land – leaving you the opportunity to buy at a discount and profit in the short and/or long term depending on your goals!
Real estate investing, just like most things in life, has benefits and risks no matter how you look at it. There are always those unknown and unexpected circumstances. In the scheme of things, you need to decide…are you able to live a peaceful, joyful life as you are building your wealth through real estate investing in land and/or houses. Your personal risk tolerance is what only you can decide. I am doing both wholesale land and house flipping and holding, looking at each deal individually. Because most importantly, it is all about profitability and the bottom line!
Most Important!
Universally, success is about having a system, a RE power team and a mentor to help you down the path of real estate investing. Those are the keys to your success. Surround yourself with experienced people who are doing real estate investing successfully – they already have figured out the “code”. You can learn from them so – “Why re-invent the wheel?”, as they say.
Knowing you have experience at your side alleviates those fears of the unknowns, increasing the chances for a faster, easier and happier ride to the peak of real estate investing success. I would like to leave you with a quote:
“Perhaps the very best question that you can memorize and repeat, over and over, is, ‘what is the most valuable use of my time right now?’” – Brian Tracy: Professional Development Author & Speaker
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.
Learn live and in real-time with Realty411. Be sure to
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please visit Realty411Expo.com or our Eventbrite landing page, CLICK HERE.
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Asset-Based Lending Can Boost Your Borrowing Capacity
A real estate investor can get financing for an investment property through asset-based lending. This kind of loan is determined by the borrower’s liquid assets and credit score, not by their income or employment history.
When compared to dealing with institutional banks, the asset-based loan application process is typically quicker, requires less paperwork, and results in cash in hand sooner, allowing you to make larger purchases and advance as a real estate entrepreneur. Asset-based loans are a specific type of bridge loan (12-24 months) used only for investment and commercial properties.
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If you have a foreclosure on your record or poor credit and are having problems securing a loan from conventional banks, asset-based lending can be advantageous. It is particularly beneficial if your real estate investing business is expanding quickly and you need money to keep going.
How Do Asset-Based Loans Work?
Hard money lenders in asset-based lending use your collateral, in this case real estate, to assist you in getting more money to finance additional real estate projects. If your money is invested in real estate, it is not liquid, and if your business is expanding quickly, it’s likely that you need more money to keep expanding. Hard money lending can help in this situation.
Compared to traditional banking institutions, hard money lenders can provide you cash faster, with less red tape and more flexibility. A hard money lender will consider your accounts receivable, equipment, and inventory in addition to the equity in your current real estate assets to determine the amount of your loan. Hard money lenders typically charge a higher interest rate than standard banks because the real estate is not liquid and you are not borrowing against your own income.
What Are The Benefits of Asset-Based Lending?
Asset-based financing has a number of advantages, whether you’re attempting to find out how to fund a multi-family property or require a commercial loan.
These loans often close more quickly and with less paperwork than traditional loans. These loans have less stringent underwriting requirements and higher interest rates, but they also close more quickly than term loans.
The gap between expenses and incoming cash receipts for your company can be filled by cash flow asset-based lending solutions.
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The loan amount is unrestricted, so you are free to utilize it however you see fit (such as equipment purchase.)
Stratton Equities will make it simple for you to convert your collateral into cash through asset-based financing so you can fund your next big idea. Call Stratton Equities at 800-962-6613, send us an email, or fill out an application for loan pre-qualification right away if you have an investment or commercial property and would like to talk with one of our Loan Officers.
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.
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 page, CLICK HERE.
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The world of real estate investing is ever-evolving, and staying ahead of the curve can mean the difference between success and challenges. In the bustling city of New York, one recent change has sent ripples through the real estate and short-term rental markets – the new Airbnb law. As seasoned investors who have seen it all and newcomers eager to get started, you must understand how to adapt to this shifting landscape. In this article, we’ll explore the recent changes to the Airbnb law in NYC and how to not just survive but thrive within the new regulations.
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**Understanding the New Airbnb Regulations**
The new regulations are crystal clear – you cannot rent out an entire apartment or home for less than 30 days, even if you own or live in the building. This rule applies across the board to all permanent residential buildings in NYC. Furthermore, hosts are only permitted to offer short-term rentals if they remain in the same apartment or unit with their guests. There’s also a strict limitation on the number of paying guests – no more than two are allowed at a time. Violating these regulations can result in a hefty $5,000 fine.
**A Success Story in Compliance**
In the midst of these changes, one seasoned investor, Hugh Zaretsky, has not only navigated the new regulations successfully but has thrived within them. Hugh, who was approved by New York City as one of the few hosts to continue offering Airbnb stays, has a track record of investing in cash-flowing properties, businesses, and training entrepreneurs. His story is a testament to the power of adaptation and compliance.
Hugh’s experience shows that compliance is not just about following the rules; it’s about maximizing your return on investment. By adhering to the new Airbnb regulations, you protect your investment from costly fines and legal troubles. It’s a strategy that pays off in the long run.
**Impact on the NYC Airbnb Market**
The repercussions of the new law have been significant. The number of available Airbnb listings in NYC has dropped dramatically, from over 15,000 or 9,000 units (depending on the data source) to a mere 300 options as of now. This shift is expected to bring the number closer to 3,500 available units. For investors who comply with the law, this reduced competition could translate into higher nightly rates, potentially making legal hosting even more profitable.
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**The Importance of Compliance**
Compliance with the new Airbnb law is not just about avoiding fines; it’s about safeguarding your investment and ensuring the longevity of your real estate endeavors. Hugh Zaretsky, with his background in real estate and entrepreneurship, is a prime example of how considering the law when making investment decisions can lead to success.
Hugh has also taken his expertise and experience in the field to teach other real estate investors how to operate Airbnb and short-term rentals legally. This highlights the need for education and mentorship, especially in times of change.
**Adapting to the Changing Landscape**
Hugh’s journey into the world of Airbnb investing began in 2012, and his adaptability and willingness to embrace emerging trends have been instrumental in his success. As seasoned and newbie real estate investors, it’s crucial to recognize the value of staying one step ahead. Tech expertise, mentorship, and a willingness to adapt can make all the difference in thriving in evolving markets.
In conclusion, the changing Airbnb law in NYC may have presented challenges, but it has also created opportunities for those who are willing to adapt and comply. By understanding the regulations, prioritizing compliance, and seeking mentorship, both seasoned and newbie real estate investors can find success in this evolving landscape. Hugh Zaretsky’s success story is proof that with the right approach, you can not only survive but thrive in the ever-changing world of real estate investing.
Thank you, Hugh
646 584-5818
By Hugh Zaretsky Real Estate Investor, Agent, Speaker, Training and Amazon Best Selling Author in 4 Categories
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Buying rental property is a great way to invest for the future. Just watch out for these common tricks that sellers use to inflate the appraised value.
Be careful when buying rental property. We stayed at a motel for a week one winter. The bill showed twice what it should have, but since I already paid the correct amount in cash, I thought nothing of it. When we noticed that the lobby and swimming pool were unheated, we thought it was frugality. Only a year later, when I read a news story about a new owner struggling to make the motel work, did I realize what was going on.
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The owner had been planning to sell. To prepare, she was using the two most basic ways to inflate the appraised value: decrease expenses and increase reported income. By stopping repairs and quietly adding $100 in income every day, she may have shown $45,000 more net income for the year. At a .08 capitalization rate, that means the appraisal would come in $562,000 higher than it should have. Oops! The poor guy who overpaid!
Do you want to avoid a mistake like that when buying a rental property? You need to watch for tricks like these. You also have to understand the basics of appraising income property.
It starts with the capitalization rate, or “cap rate.” If investors in an area expect a return of 8% on assets, the cap rate is .08. Net income before debt service is divided by this to arrive at the value of a property. I explain this further in another article, but the primary point here is to remember that every dollar of extra income shown will increase the appraised value by $12.50 with a cap rate of .08, or by $10, if the cap rate is .10.
Sellers Dirty Tricks
If sellers of rental properties increase the net by honest means, then the property should sell for more. Unfortunately, there are many dishonest ways, both legal and fraudulent, that are sometimes used. Unlike sellers of houses, who may cover foundation cracks with plaster, the tricks used by sellers of income properties aren’t about appearance. They are about income and expenses.
Income can be inflated by showing you the “pro forma,” or projected income, instead of the actual rents collected. Ask for the actual figures, and check to see that none of the apartments listed as occupied are actually vacant. Also, be sure that none of the income is from one time events, like the sale of something.
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Income from vending machines is a gray area. Smart investors subtract this from the net income before applying the cap rate, then add back the value of the machines themselves. If laundry machines make $6,000, for example, that would add $75,000 to the appraised value (.08 cap rate), if included. Since they are easily replaceable, adding the $10,000 replacement cost instead makes more sense.
Hiding expenses is the most common of seller’s tricks. Paying for repairs off the books, or just avoiding necessary repairs for a year, can dramatically increase the net income. Demand an accounting of all expenditures. If a number in an expense category is suspicious, replace it with your own best guess.
Analyze each of the following, verifying the figures as much as possible, and substituting your own guesses if they are too suspect: vacancy rates, advertising, cleaning, maintenance, repairs, management fees, supplies, taxes, insurance, utilities, commissions, legal fees, and any other expenses. This is how you make buying rental property safe.
Joe Arias and his partners have flipped hundreds of properties in the Southern California Region. He has developed cutting-edge systems to simplify and scale the entire remodel process that can easily be applied to flipping, rentals, wholesaling, and other passive income strategies. More recently, Joe founded a real estate investing education company called RealSuccess Investments, allowing him to share his tools and systems with hundreds of up-and-coming investors.
RealSuccess is focused on education on flipping, rentals, passive income, and wholesaling.
Joe is also a best-selling author. He has written 4 books: Finding your RealSuccess, First Steps to Flipping, R stands for Rentals and Retirement, and Wholesaling Real Estate.
“I came from Argentina when I was 20, I am 40 years old now. I didn’t know anyone, I am CERO generation, usually people say, I am first or second generation but I was the one that crossed the border, no language, no friends, no family, no money, nothing, nada… If I can do it, anyone can.”
From a young latino immigrant to a celebrated real estate investor, Joe is a true testament to hard work and discipline. As an investor, he has made it his mission to help others achieve financial freedom while enjoying living a life of passion, fulfillment, and empowerment.
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 page, CLICK HERE.
Number of existing homes bought by international buyers declined to 84,600 – the fewest since 2009
Washington, D.C., Aug. 01, 2023 (GLOBE NEWSWIRE) —
Key Highlights
International buyers purchased $53.3 billion worth of U.S. residential properties from April 2022 to March 2023, down 9.6% from the previous year. The 84,600 existing homes sold – the lowest since NAR began tracking in 2009 – retreated 14.2% from the prior year.
The average ($639,900) and median ($396,400) purchase prices for international buyers were the highest ever recorded by NAR.
China, Mexico, Canada, India and Colombia were the top five countries of origin by number of U.S. existing homes purchased. The top U.S. destinations for foreign buyers were Florida (23%); California and Texas (12% each); and North Carolina, Arizona and Illinois (4% each).
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Foreign buyers purchased $53.3 billion worth of U.S. existing homes from April 2022 through March 2023, slipping 9.6% from the previous 12-month period, according to a new report from the National Association of Realtors®. Foreign buyers purchased 84,600 properties, down 14.2% from the prior year and the fewest number of homes bought since 2009, when NAR began tracking this data. Overall, U.S. existing-home sales totaled 5.03 million in 2022, down 17.8% from 2021.
“Sharply lower housing inventory in the U.S. and higher borrowing costs across the world have dented international buyers for two straight years,” said NAR Chief Economist Lawrence Yun. “However, recovering international travel following the end of the pandemic will bring more foreign transactions in coming months and years.”
NAR’s 2023 International Transactions in U.S. Residential Real Estate report surveyed members about transactions with international clients who purchased and sold U.S. residential property from April 2022 through March 2023. Foreign buyers who resided in the U.S. as recent immigrants or who were holding visas that allowed them to live in the U.S. purchased $23.4 billion worth of U.S. existing homes, a 31.4% decrease from the prior year and representing 44% of the dollar volume of purchases. Foreign buyers who lived abroad purchased $29.9 billion worth of existing homes, up 20% from the 12 months prior and accounting for 56% of the dollar volume. International buyers accounted for 2.3% of the $2.3 trillion in existing-home sales during that period.
The average ($639,900) and median ($396,400) existing-home sales prices among international buyers were the highest ever recorded by NAR – and 7% and 8.3% higher, respectively, than the previous year. The increase in prices for foreign buyers reflects the increase in U.S. home prices, as the median sales price for all U.S. existing homes was $384,200. At $1.23 million, Chinese buyers had the highest average purchase price, with a third – 33% – purchasing property in California. In total, 15% percent of foreign buyers purchased properties worth more than $1 million from April 2022 to March 2023.
China and Canada remained first and second in U.S. residential sales dollar volume at $13.6 billion and $6.6 billion, respectively, continuing a trend going back to 2013. Mexico ($4.2 billion), India ($3.4 billion) and Colombia ($0.9 billion) rounded out the top five.
“Home purchases from Chinese buyers increased after China relaxed the world’s strictest pandemic lockdown policy, while buyers from India were helped by the country’s strong GDP growth,” Yun added. “A stronger Mexican peso against the U.S. dollar likely contributed to the rise in sales from Mexican buyers.”
For the 15th consecutive year, Florida remained the top destination for foreign buyers, accounting for 23% of all international purchases. California and Texas tied for second (12% each), followed by North Carolina, Arizona and Illinois (4% each).
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“Florida, Texas and Arizona continue to attract foreign buyers despite the hot weather conditions during the summer and the significant spike in home prices that began a few years ago,” Yun said.
All-cash sales accounted for 42% of international buyer transactions compared to 26% of all existing-home buyers. Non-resident foreign buyers (52%) were more likely to make an all-cash purchase than resident foreign buyers (32%). Two-thirds of Colombian buyers (67%) made all-cash purchases, the highest share among the top five foreign buyer nations. Approximately half of Canadian (51%) and Chinese (47%) buyers made all-cash purchases. Asian Indian buyers were the least likely to pay all cash, at just 15%.
Half of foreign buyers purchased their property for use as a vacation home, rental property, or both – up from 44% the previous year. Almost three out of five international buyers (59%) purchased detached, single-family homes.
“Fostering economic investment in culturally dynamic communities, businesses, and industry is a top priority for NAR,” said Charlie Dawson, NAR’s vice president of engagement and advocacy outreach. “Our work across the country provides members and their communities with tools, resources and data to identify and highlight international investment opportunities in U.S. real estate. This acts as a key pillar in our efforts to further support local communities to drive economic development in markets across the country. NAR and the Realtor® brand has developed a network of partnerships with over 100 real estate organizations across 77 countries providing growth opportunities by ensuring ethical and accessible markets that allow our members to make direct connections with global real estate professionals and international investors.”
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