January Becoming Busy Real Estate Month

Spring has been known as the popular season for real estate shopping, but it seems that it is changing.  Over the past few years, more and more people are starting their housing search earlier and earlier.  The housing shortage is making the real estate market more competitive and causing homebuyers to start looking earlier than spring. According to Realtor.com, U.S. housing inventory is expected to be at a record low in 2020.

According to Realtor.com, January is starting to become a big month for real estate sales.  It is reported that in 2019, “January was the busiest month on the site in 20 of the largest 100 metropolitan markets.”  This number of views is up from January 2019, and is expected to increase in January 2021.

Read the full article here: https://www.realtor.com/research/january-housing-market-new-april/

Which month in 2019 was the most successful for you?

Planning for the Unexpected

As real estate investors, rehabbing your investment property could be as simple as updating the fixtures to as demanding as drywalling and replacing flooring. When planning the list of improvements for the property, do you plan for the unexpected? In unexpected situations, a real estate investor needs to be prepared for additional costs and time.

At ReCasa Financial Group, we encourage all our borrowers to have cash reserves available while rehabbing for any unexpected situations and any budget overages. With liquid reserves, borrowers are able to access funds immediately without having to increase the loan amount. This allows for the rehab project to continue without delay and saves the borrower money in the long run.

What are your experiences with unexpected budget shortfalls when it comes to rehab investing?

Project Destined

Many professionals are passionate about their career, and hope that younger generations will follow in their professional footsteps.  With your real estate knowledge and experience, you are able to help mold the minds of others.  Two real estate experts did just that.  Cedric Bobo and Fred Greene are the co-founders of Project Destined.

Project Destined is 501(c)3 non-profit that administers a real estate based education program focused on empowering underserved communities through training in financial literacy, total health and leadership development.” Through this non-profit, inner-city students experience real world real estate investments within their own community. Currently, this program is only offered in certain areas including Memphis, Miami and New York City.

The program teaches real estate and financing topics to the students through an online platform.  Then they form teams where each team concentrates on one real estate property.  These teams create an investor pitch which they present to a panel of real estate experts.  Not only are these students gaining real estate knowledge, experience and connections, but the winning team has the opportunity to earn a cash scholarship up to $5,000.  According to CNBC, “Some of the kids from this program have gone on to get internships and even jobs in the real estate sector.”

Does your community offer anything similar to Project Destined?  The Project Destined website allows you to vote for their next city where they will expand this non-profit.

 

Connecting with People Today

There are countless ways to connect with numbers of professionals in any industry.  There are ways to connect in person and there are ways to connect online.  You will have to put in the effort as good connections take work.  With today’s technology, it is easier to meet more and more people in any industry.  You can meet people not only from your location, but with people from around the world.

Learn what connections you should have as a real estate investor – http://recasafinancial.com/building-your-team-who-the-seasoned-investor-knows/

New connections can be great resources for real estate investors.  People can be helpful for your business, or they may offer referrals.  No contact is a bad contact to have.  It is a good idea to find places where you can connect with people in your industry and places where there may be a mixture of professionals.

Below are some resources that we have found to be successful for us as a real estate financing company.

What additional resources should we know about?

A Brady Bunch Renovation

Who watched Brady Bunch when they were younger?  Well, did you hear what happened to the memorable Brady Bunch home?  In November 2018, HGTV announced plans to restore the Brady Bunch house to the way it looked in the show.  This exact home is the one used when the television show would display the exterior of the house.  The inside of the house, was actually filmed on a set.  In HGTV’s A Very Brady Renovation, some of the Brady Bunch worked with some of HGTV’s best including Drew and Jonathan Scott to renovate this iconic property.

Before pictures of the Brady Bunch home – https://www.onecountry.com/lifestyle/the-brady-bunch-house-pictures/

After pictures of the Brady Bunch home – https://hip2behome.com/2019/06/02/brady-bunch-house-renovation-complete/

How do you feel about this renovation?  Do you know what has happened to other iconic, television homes?