Avsnitt
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Owning real estate could get expensive—yes, even more expensive than it already is today. Insurance prices, property taxes, maintenance costs, and more are going through the roof, and there isn’t much stopping these costs from jumping even more. What’s accelerating the rise in these upkeep costs? Hotter summers, colder winters, and more natural disasters. Growing climate risk is making real estate deals harder and harder to pencil, and even some safer areas to invest are seeing sizable pricing upticks.
John Sheffield from ICE brings us the latest data on the financial impacts of climate risk in this episode. When we say “climate risk,” we know what you’re thinking: hurricanes, tornadoes, and wildfires. But that doesn’t even scratch the surface of what’s causing real estate expenses to jump. Areas of the US with once-cool summers are now experiencing record-breaking heat, increasing hail damage is denting roofs and breaking windows, and flooding has become the norm. These subtle climate effects have huge implications for your bottom line. So, what should you do to secure the profit you’re looking for on your next property?
John hits on the expenses that are rising the most, the areas where home upkeep costs could almost mirror monthly mortgage payments, and what investors must do when underwriting their next deal to account for this massive jump in expenses.
In This Episode We Cover
The actual cost of climate risk and the expenses that are seeing the most significant pricing surges
Why even areas without hurricanes, fires, or tornadoes are still at significant risk
Property tax problems and underfunded local governments that could quickly raise taxes
Insurance underpricing that could lead to even more expensive home protection
Areas where home prices could drop as a result of inflated home expenses
Where to find and track climate data so you know where (and where not) to invest
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
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BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Property Manager Finder
BiggerPockets Real Estate 951 - BiggerNews: Why Low Mortgage Rates Can’t Solve Our Affordability Crisis
BiggerPockets Real Estate 895 - BiggerNews: How Climate is Exploding Insurance, Building, and Investing Costs
Growing Home Insurance Costs Will Destroy Your Cash Flow—Here’s What You Can Do About It
Jump to topic:
(00:00) Intro
(01:31) Costly Climate Risk
(07:56) A Huge Insurance Problem
(14:31) Property Taxes and Utility Costs
(20:38) Maintenance Inflation
(22:54) What Investors Must Do
(25:22) Prices Could Drop Here
(30:08) Where to Find Climate Data
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-218
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The unemployment rate begins to rise as job growth slows in the latest jobs report, prompting many to wonder, “Will this finally lead to interest rate cuts?” With so many investors waiting and hoping for rates to fall, this metric may point to exactly what the Fed is looking for. But while waiting for rate cuts, investors could miss out on a huge opportunity to buy at discounted prices. If you’re sitting on the sidelines, you could be making a big mistake. What do we mean? We’re getting into it all in this headlines show!
We’ve got four economic news stories to discuss today, ranging from Redfin’s $9.25 million settlement as part of the agent commission lawsuits to new jobs report numbers and what Americans really think about the economy. First, we’ll touch on Redfin news as the discount brokerage settles in what seems to be the never-ending NAR lawsuit. Next, Americans think now is the worst time to buy a house. Do we disagree? Not really! But, we do believe it could get even worse very soon for those who don’t buy before it’s too late.
Next, we’ll review the latest jobs numbers, from rising unemployment to slowing growth, and whether this will prompt the Fed to finally cut rates. Lastly, we’ll hit on consumer sentiment and America’s growing economic pessimism. With so many Americans living in financial fear, why aren’t we seeing a drop-off in travel and consumer spending? If you’re listening to this episode on a plane to Europe with your designer bag and $500 headphones, we’re talking about you! Stick around as we break down the top economic headlines and their impacts on the housing market.
In This Episode We Cover
The latest agent commission settlement and the huge payout from Redfin
Is now the worst time to buy a house, and what happens if home prices keep rising?
The one type of real estate that may see a serious uptick in demand over the next few years
New jobs report numbers and whether this could finally prompt the Fed to lower rates
Consumer sentiment and the extremely confusing economic pessimism we’re seeing now
Why you DON’T have to wait for rates to drop to get your next real estate deal
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
James' Instagram
Property Manager Finder
Grab Dave’s Rent vs. Buy vs. House Hack Calculator
Articles from This Episode:
Redfin
Worst Time to Buy
Jobs Report
Consumer Sentiment
Buy or Rent?
Jump to topic:
(00:00) Intro
(01:13) Redfin Settles in Commission Lawsuit
(06:03) Worst Time to Buy a House?
(16:25) Job Growth Slows, Will Rates Drop?
(27:47) Economic Pessimism Peaks
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-217
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Learn more about your ad choices. Visit megaphone.fm/adchoices -
Saknas det avsnitt?
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Squatters' rights have been a serious subject of debate over the past few years. It seems that more and more investors and even one-off landlords are dealing with squatters staying in their homes, whether they’ve had a lease in the past or not. This puts landlords in a strange predicament: try to get squatters out the legal way or offer unconventional incentives to entice the squatters to leave on their own accord. But how can a landlord prevent squatters from getting inside in the first place?
Denise Medina and Patrick MacQueen, attorneys based in Detroit and Phoenix, are here to share exactly what a landlord must know about squatters’ rights and how to get a squatter out of your property legally. With new squatter laws taking effect in states like Florida, it seems that landlords and local governments have had enough. However, squatters’ rights remain strong in many other areas, such as James Dainard’s own Seattle, Washington. So what can landlords from either coast do to get squatters out?
We’ll break down where squatters’ rights even came from, how landlords can get the legal upper hand and get a squatter OUT of their property, the exact steps a landlord should take, the prevention methods to stop squatting in the first place, and how James deals with squatters frequently without ever having to go to court!
In This Episode We Cover
Squatters’ rights explained, and the ancient laws that they’re based on
Why state governments are getting tired of squatters and tightening up their laws
What qualifies someone as a “squatter,” and why it’s MUCH broader than you think
Evictions 101 and the steps every landlord should take to get a squatter out
“Cash for keys” and maneuvering around the courts to remove squatters
Trespassing vs. squatting and why the police CANNOT simply come and take a squatter away
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
James' BiggerPockets Profile
James' Instagram
Property Manager Finder:
biggerpockets.com/findapm
Learn to Be a Landlord with the BiggerPockets Bootcamps
Real Estate Rookie Podcast 360 - Trespassers Took Over My Property! (How to Get Rid of Squatters ASAP)
BiggerPockets Real Estate 390 - 7 Figures From ONE Deal With Leka Devatha
Connect with Denise:
https://www.thefgfirm.law/attorneys/denise-medina/
Connect with Patrick:
www.medalistlegal.com
Jump to topic:
00:00) Intro
(02:17) "Squatting" Explained
(06:00) A Rise in Squatters?
(10:22) Squatters' Rights
(19:01) What Landlords Can Do
(26:19) Tips for Landlords
(28:15) How Squatting is Changing
(33:03) Cash for Keys
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-216
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices -
The housing market has seen unprecedented home price growth in the 2020s. Already, we’ve almost beat the past three decades, and we aren’t even halfway through our own. And now, with home price growth slowing, many people wonder how we’re still in a position of high housing costs and low inventory. The answer is simple: “Switching costs” are holding the housing market in limbo, and the more you know about them, the more our current situation makes sense.
Put simply, “switching costs” are not only the financial but also the psychological costs of selling your current home and buying a new one. With mortgage rates close to double what most Americans have locked in, there’s a substantial financial consideration when purchasing a new home. Lance Lambert, co-founder of ResiClub and housing data authority, is on the show today to talk about home prices, housing inventory, and how “switching costs” influence both.
Lance details how our massive home price acceleration put many Americans in an affordability bind, making “switching costs” higher than in recent history. So, how do we cross the threshold to enter a time when “switching costs” are low, prices are stable, and housing inventory returns? Lance walks through exactly how to tell the direction your local housing market is going in and the data investors must look at to get a better sense of how home prices and housing inventory are trending.
In This Episode We Cover
“Switching costs” explained and why they’re keeping the US housing market in limbo
The “lock-in effect” that’s suppressing our housing inventory and keeping owners from selling
Inflation’s sizable role in the massive home price appreciation we’ve been seeing
The slow recovery in active listings and how far behind pre-pandemic levels we are
The one data point you must follow if you want to gauge how healthy your local housing market is
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
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Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
On the Market 108 - How the Pandemic Polarized America’s Property Market w/Lance Lambert
On the Market 189 - The Fed’s Plan “Backfired,” Now They’re Scrambling w/Logan Mohtashami
National home price growth this decade has already surpassed that of the entire 1990s and 2010s
Read More from Lance:
https://www.resiclubanalytics.com/
Jump to topic:
(00:00) Intro
(01:27) Housing Inventory Update
(05:00) “Switching Costs” Shoot Up
(10:52) Are Owners “Locked-In”?
(16:04) Can Home Price Growth Last?
(21:36) How to Predict Your Market
(26:10) Connect with Lance!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-215
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
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Multifamily syndications are getting squeezed. With short-term financing coming due and mortgage rates at multi-decade highs, syndicators are calling on their original investors to raise more money so they don’t lose the deal. The problem? If you’re an investor, how do you know if your additional investment will ever be returned? Could a syndication simply burn through your money without making any promising changes to the investment? What should you know BEFORE you put up the cash for a capital call? We brought two syndication experts, Brian Burke and Mauricio Rauld, on to share their tips for navigating capital calls.
Before we start, let’s clarify this isn’t exclusively a syndication or multifamily problem. Much of the commercial real estate market is facing financing problems as loans come due and mortgage rates stay high. However, this problem has become a lot more common for syndication investors since rates started rising. In this episode, we’ll break down what a capital call is, why syndications do them, whether or not you’re obligated to invest more, and what investors MUST look for before putting up cash.
If a capital call comes your way, we have the exact questions you should ask the syndicator to ensure your money is being used correctly. Plus, if you’re a syndicator or plan on being one in the future, we share the steps to pull off a capital call the right way and make your investors whole. Making the wrong move could cost not only your investor’s money but also your money and lead to serious legal consequences. Don’t get stuck in that spot; stick around!
In This Episode We Cover:
Capital calls explained, why they happen, and why they’re becoming common in multifamily
Syndications 101 and the reason they’ve become popular among passive investors
Commercial lending problems and the bridge loans that are squeezing multifamily investors
What investors MUST look for when a capital call comes their way and the questions to ask
The right way to execute a capital call and the steps every syndicator should follow
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
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Kathy's BiggerPockets Profile
Kathy's Instagram
BiggerPockets' Instagram
Recent Episodes with Brian:
On the Market 71 - The Multifamily “Bomb” is About to Blow, Here’s What You Need to Know
On the Market 147 - Top Multifamily Investors’ Advice for Buyers in 2023? DON’T Do It!
Real Estate Podcast 900 - The Truth About Real Estate Investing in 2024 (What Investors NEED to Know)
BiggerPockets Money 219 - Syndications: Everything You Need to Know BEFORE You Invest
Connect with Brian:
Brian's BiggerPockets Profile
Connect with Mauricio:
Mauricio's BiggerPockets Profile
Book Mentioned in the Show:
The Hands-Off Investor by Brian Burke
Jump to topic:
(00:00) Intro
(03:24) What’s a Syndication?
(08:05) Multifamily is Getting “Squeezed”
(12:57) Why “Capital Calls” Happen?
(16:20) What Investors MUST Look For
(22:25) Sponsor Loans and Raising More Money
(28:26) Ask THESE Questions
(37:56) The Right Way to Capital Call
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-214
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices -
Texas and Florida are seeing stagnating home prices as housing inventory booms while demand slips away. Housing is still expensive, but with more inventory, why is it staying that way? While the southern states catch their breath from the unprecedented demand of 2020 - 2022, a new housing market is taking control as one of the hottest areas in America. Is it all hype, or could this housing market really be a winner? We’re touching on this week’s news in today’s headlines episode!
But first…shrimp. How much shrimp is too much shrimp? Apparently, miscalculated shrimp is a very costly mistake, as a beloved American chain restaurant could be declaring bankruptcy due to a costly “all you can eat” deal gone wrong. But before we get into crispy bottom feeders, we’ll talk about the home price woes Florida and Texas are facing as their inventory booms, but home prices stay stagnant. Speaking of stagnation, we discuss “stagflation” and whether or not this economy-killer could hit the US.
With Americans getting fed up with the South’s high prices, a new Midwest market has been named America’s new #1 housing market, but would WE invest in it? From market saturation to stagflation, shrimp miscalculations, and top housing markets, we’re wrapping up this week’s economic news so you can invest better than the rest, so stick around!
In This Episode We Cover:
Southern inventory booms and why home prices are stagnating in once “hot” markets
The nation’s new #1 housing market in a surprisingly small city you probably haven’t heard of
Growing love for affordable housing markets and why so many Americans and businesses are moving
Stock market sliding and the real fear that “stagnation” could hit the US economy
The one chain restaurant that may be going bankrupt because of a jumbo-shrimp-sized miscalculation
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
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On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
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Dave's Instagram
Henry's BiggerPockets Profile
Henry's Instagram
Kathy's BiggerPockets Profile
Kathy's Instagram
James' BiggerPockets Profile
James' Instagram
BiggerPockets' Instagram
Headlines from Today’s Show:
Texas and Florida Home Prices
New #1 Housing Market
Stagflation
Shrimp
Jump to topic:
(00:00) Intro
(00:55) Texas and Florida’s Inventory Booms
(07:31) #1 Housing Market in America
(15:06) Next Stop, Stagflation?
(23:46) Going Bankrupt On Shrimp
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-213
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices -
When housing inventory is low, where do you go? Foreclosure rates are down, short sales are a hassle, and the open housing market has barely any sellers—is there a better way to find deals? Yes! Enter real estate receivership—the hidden housing inventory that our own James Dainard has been using for years to get better deals than what’s on the market. How do they work, and what’s behind these discounted deals?
Attorney Jake Flothe works with receiverships daily and has seen the inside and out of these transactions that most real estate investors know nothing about. In short, receivership is when a court-appointed receiver takes control of a property in order to sell it to pay back creditors on the borrower’s behalf. This alternative to foreclosure and bankruptcy helps many real estate investors and everyday Americans escape a financial bind and can bring better properties to your investment portfolio.
Jake gets into the nitty gritty of why someone would go into receivership, how to finance these discounted deals, the vast benefits of receivership over foreclosure or short sales, what the bidding and buying process looks like, and the one clause that could kick you out of an amazing receivership deal.
In This Episode We Cover:
The hidden inventory of “receiverships” that most investors have no idea about
Why receivership real estate may be an even better deal than foreclosures
The bidding process and how to start putting in offers on these discounted deals
A BIG reason why foreclosures are down and receiverships are “ramping up”
One clause that could completely ruin your receivership deals
Why YOU may need to consider receivership if your deal goes sideways
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
James' BiggerPockets Profile
James' Instagram
BiggerPockets' Instagram
What is a Foreclosure? The Complete Guide
HousingWire CEO: This Inventory Shortage Could Last Decades
Connect with Jake:
Jake's LinkedIn
Jake's Website
Jump to topic:
(00:00) Intro
(01:50) What is Receivership?
(06:05) Can You Finance It?
(07:40) Better Than Short Sales?
(11:54) Bidding and Buying
(16:36) Receivership is “Ramping Up”
(21:20) The “Bump” Clause
(23:33) Fewer Foreclosures?
(24:36) How to Buy Receivership Properties
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-212
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices -
America is in need of affordable housing; we’re all aware. Buying your first home has become increasingly challenging for everyday people. This is where housing subsidies come in. Federal housing subsidies were created over ninety years ago to help Americans get into the housing market and strengthen the economy, but in 2024, much of that money may not be headed to homebuyers—it could be going to banks instead.
On today’s show, we talk to Sharon Cornelissen, Ph.D., Director of Housing at the Consumer Federation of America. Sharon’s mission is to advocate for safe, affordable housing with equitable mortgage lending for American consumers. In this episode, Sharon illuminates the shocking fact that most Americans are completely unaware of—billions in housing subsidies AREN’T being used for housing. So, if they’re not going to homebuyers, where are all the subsidies headed?
Sharon discusses the banks that could be receiving a significant amount of these subsidies without providing any benefits for homebuyers, how the Coalition for Federal Home Loan Bank Reform is trying to change this, and how, if they succeed, affordable housing could see a MASSIVE influx in subsidies, that could help the housing market tremendously.
In This Episode We Cover:
Where the $7.3 billion in housing subsidies is actually going
The Federal Home Loan Bank system and why it’s in dire need of reform
How the mortgage market changed over the past century and why we’re seeing these problems
How over $1 billion could be directed straight towards affordable housing
How Sharon picked up a $7,000 house in one of the most devastated real estate markets
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Kathy's BiggerPockets Profile
Kathy's Instagram
BiggerPockets' Instagram
Consumer Federation of America
Federal Home Loan Banks
Connect with Sharon:
Coalition for FHLB Reform
Sharon's LinkedIn
Sharon's X/Twitter
Jump to topic:
(00:00) Intro
(01:17) Buying a $7,000 House!
(04:41) $7.3B in Housing Subsidies!
(11:45) Is It Working?
(14:44) The Big Problem
(18:59) A Solution for Affordable Housing
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-211
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices -
Over the past few years, you’ve probably heard the term “walkability” thrown out. For those who have lived in big cities, this is a common factor to use when deciding where to live or work. If you can catch a quick bus or walk to the office, the grocery store, restaurants, or a movie theater, there’s a fair chance you’ll pay more for where you live. But, most real estate investors aren’t thinking about this, and their ignorance could cost them.
Jeff Speck, city planner and writer, is on the show to discuss how walkability, smart urban planning, and intentional property design can help you make much more money while improving the lives of your tenants and neighbors. Jeff has seen time and time again how smart urban planning leads to higher home appreciation and rents and a safer, happier community. The problem? Most of us are stuck in car-reliant American suburbs with little walkability and lacking public transportation.
After hearing this episode, you’ll easily be able to spot the properties that will grow faster in value due to smart city planning. So, before you go out and buy your next property, make sure it aligns with Jeff’s four components of walkability because if it does, you could have a valuable property on your hands that most other investors won’t even notice!
In This Episode We Cover:
Walkability explained and why this is such a crucial factor in home and rent prices
The four components of walkability and how to ensure your property fits
The huge portion of Americans who want walkable properties and communities
Mixed-use development and why Americans want more than big yards and big houses
Urban design trends to pay attention to that could change the real estate landscape
How to get your city leaders to take the steps to building more walkable communities
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
BiggerPockets' Instagram
Connect with Jeff
Jeff's Instagram
Jeff's LinkedIn
Jeff's X/Twitter
Jeff's Website
Books Mentioned in the Show:
Walkable City by Jeff Speck
Walkable City Rules by Jeff Speck
Suburban Nation by Andrés Duany
The Death and Life of Great American Cities by Jane Jacobs
Homelessness is a Housing Problem by Clayton Page Aldern and Gregg Colburn
The High Cost of Free Parking by Donald Shoup
(00:00) Intro
(01:07) Why We Need “Walkability”
(07:32) Americans WANT Walkable Spaces
(09:49) Bringing Back Walkable Cities
(15:19) Profit Potential to Look For
(19:33) Will This Increase Affordability?
(25:13) Urban Design Trends to Watch
(33:01) What Investors Should Do
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-210
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
Learn more about your ad choices. Visit megaphone.fm/adchoices -
Welcome to the first-ever On the Market Housing Market Awards! This year, we’re giving out awards for the best housing market in the country, best beginner real estate investing strategy, best experienced investor strategy, and most negative impact on real estate.
But we’re not just giving out the awards; we’re also getting one, as On the Market has recently been named a 2024 Webby Honoree for business podcasting! With over 13,000 podcast applicants, we made it to the top ten!
We’re honored to have been honored, but it’s even more of an honor to share our On the Market housing market picks with you in today’s episode! First, we’re pitting the country against itself to see which region has been giving the biggest win to investors. Then, we’re going over the beginner investor strategy that anyone can use to start building wealth in 2024 (it’s almost a cheat code!). For experienced investors, we share the best strategy that you can use to sit back and collect passive cash flow. Finally, we give our award for the most negative impact on the housing market; who will win: high interest rates, low inventory, inflation, or the “YouTube crash bros”?
Thank you again to the Webby judges for choosing On the Market as one of the best business podcasts in the world! And thank you, our listeners, for tuning in and loving On the Market—we wouldn’t be here without you!
In This Episode We Cover:
The newest podcasting award for the entire On the Market team
The best housing market in the country to invest in (and whether or not it’ll last)
One investing strategy that ANY real estate beginner can use to start building wealth
How to make truly passive income with this experienced real estate investing strategy
Why you CAN’T trust the "YouTube crash bros" who keep telling you housing is about to tank
Whether or not Dave is wearing sweatpants under his suit while recording this episode
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
BiggerPockets Agent
BiggerPockets Bootcamps
Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
Subscribe to The “On The Market” YouTube Channel
Dave's BiggerPockets Profile
Dave's Instagram
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
James' Instagram
Kathy's BiggerPockets Profile
Kathy's Instagram
BiggerPockets' Instagram
2024 Webby Business Podcast Honorees
Book Mentioned in the Show:
Lend to Live by Alexandria Breshears and Beth Pinkley Johnson
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/on-the-market-209
Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].
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America is in an affordable housing crisis. With home prices rising dramatically over the past four years and rents following right along, tens of millions of Americans are spending a significant chunk of their income just to put a roof over their heads. This means less money in Americans’ pockets for education, nutritious foods, investments, or an emergency fund. But, new government policies could help lessen the budgeting blow Americans are feeling from unaffordable housing costs, and investors may be able to help while turning a profit.
Dennis Shea, Executive Director of the J. Ronald Terwilliger Center for Housing Policy at the Bipartisan Policy Center, has been fighting for affordable housing long before the recent ramp-up in housing costs. Today, we ask Dennis what caused our unaffordable housing market, why it got even worse after the pandemic, the impacts high home prices have on the economy, and the potential solutions every investor should know about.
We even ask the uncomfortable question: Are investors to blame for the state of housing prices? But worry not—Dennis shares numerous ways investors can actually help low-income households and their communities while turning a profit with affordable housing development. If you’re looking to invest while building an even better housing market, this is the episode for you!
In This Episode We Cover:
Why America is experiencing such a shortage of affordable housing units in 2024
The “root of the housing crisis” that MUST be solved for our housing market to stabilize
Why housing became even more unaffordable after the pandemic
One potential solution that could be a massive win-win for real estate investors and tenants
The affordable housing tax credit that could see a fifty-percent boost is passed
What investors can do to help build affordable housing WHILE turning a profit
And So Much More!
Links from the Show
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Resources Mentioned from Today’s Show:
A Bipartisan Opportunity To Address the Affordable Housing Crisis | Opinion
Bipartisan Policy Center
Exploring the Affordable Housing Shortage’s Impact on American Workers, Jobs, & The Economy
The American Housing Act
The Impact of Zoning On Housing Affordability
Connect with Dennis:
J. Ronald Terwilliger Center Website
Dennis' LinkedIn
Dennis' X/Twitter
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Mortgage rates were supposed to be going down by now, but what happened? Even in late 2023, many housing market experts predicted that we’d be seeing high to mid six percent mortgage rates at this point and hovering around the high five percent rate mark by the end of the year, but the Fed isn’t showing any sign of lowering rates soon. Some experts even believe rates could go UP again this year as the job market stays hot and the economy sees unprecedented strength. This begs the question: What IF mortgage rates remain high?
It’s a reality many of us don’t want to see, but 2024 could end with minor, if any, rate cuts, keeping monthly mortgage payments high and affordability low. So, what should an investor do in this situation? Sit on the sidelines? Invest in a different asset class? Pray to Jerome Powell? While that last option may be worthwhile, top real estate investors are saying that NOW is the time to buy BEFORE rates fall. What do we mean?
We’ve got the entire expert investor panel here to give their take on what investors should do IF rates don’t fall. From house flipping to long-term buy and hold rentals, our nationwide panel of investors shares exactly what they’re doing to make money even with high interest rates. Plus, we’ll give our predictions on when rates could fall, what will happen to housing inventory, what young people should do NOW to get their first house, and why investors need to “reset” if they want to thrive in this high rate housing market.
In This Episode We Cover:
Mortgage rate predictions and when interest rates could finally start falling
What should investors do IF mortgage rates stay high throughout 2024
The “lock-in effect” and whether or not high rates are leading to lower inventory
The homes that are flying off the market in many areas (and the ones that are sitting)
How young people can creatively get into their first home or investment property
Why investors MUST “reset” their expectations if they’re to build wealth in this housing market
And So Much More!
Links from the Show
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The Federal Reserve Leaves Rates Untouched as Pressure Mounts on Inflation
Top Lenders on Mortgage Rate Predictions + Loans You’ve NEVER Heard Of
Why Mortgage Rates AREN’T Falling
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For the past few years, “subject to” real estate has been all the rage. Everyone is talking about how they scored a great real estate deal by taking over a seller’s rock-bottom interest rate mortgage payment. You see it all over social media, “I got this house for zero dollars down with a three percent mortgage rate!” And while this may seem too good to be true, the practice of subject to real estate isn’t illegal, but some of its huge risks could ruin an inexperienced real estate investor.
So, who do we have on to talk about subject to? Eddie Speed! Eddie is a creative financing master who’s been in the real estate note investing business for over forty years. Eddie has been around the block more than most and has seen the good and bad sides of subject to real estate. It’s become alarming to Eddie how many inexperienced investors are using this strategy without knowing the risks, putting their wealth and, more importantly, sellers in danger by being far too cavalier about the massive downsides of getting this real estate strategy wrong.
Eddie walks through exactly how subject to works, the one clause that could blow up your entire deal, what will trigger it, the difference between subject to and assumable loans, who should be using subject to, and who DEFINITELY shouldn’t. Even if you’ve done a subject to deal before, you’d better stick around for this one, because you may have gotten it wrong.
In This Episode We Cover:
Subject to explained and whether this “no money down” strategy is worth the risk
Subject to real estate vs. assumable mortgages and why these are NOT the same strategy
The “due on sale” clause that could ruin your entire deal (and what triggers it)
A workaround to the “due on sale” clause that most investors get WRONG
Who should be investing in subject to real estate (and why it’s probably NOT you)
Often overlooked state laws that could put you in hot water if you’ve done a subject to deal
And So Much More!
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Subject To Real Estate Explained
Connect with Eddie
Eddie's Facebook
Eddie's Website
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Squatters’ rights are quickly being stripped away as more states move to end this widespread illegal occupation of private property. Blackstone predicts real estate prices to “bottom” as they gear up to go on their next homebuying shopping spree. Rent increases get capped for affordable housing, and why doesn’t the American public know about the BILLIONS of dollars in government housing subsidies? It’s another wild week in the housing market, so let’s get you up to speed.
In this Headlines Rumble show, we’re pitting the top housing market headlines against each other as we dive deep into the stories that affect real estate investors the most. First, we talk about DeSantis’ war against the squatters, as Florida becomes one of the first states to take action against squatters illegally occupying private property. Next, we discuss the $7.3 billion in housing subsidies that banks receive but AREN’T flowing into homebuyers’ pockets. So, where is all that money going?
Blackstone predicts real estate will “bottom” soon as they prepare to buy over $1 billion in single-family homes this year. If one of the most data-backed hedge funds in existence is saying now is the time to buy, should you begin searching for your next property? Finally, we’ll discuss the recent rent caps for affordable housing that are stopping landlords from increasing their rents even during times of quickly rising costs.
In This Episode We Cover
Squatters’ rights explained and why states are finally saying no to squatting
The massive homebuying subsidies that no one knows about (but should!)
Blackstone’s bet on a “bottoming” housing market and whether or not this means you should buy NOW
Affordable housing rent increase caps and why this may lead to even less affordable housing
The winning real estate market in our “Market Madness” bracket!
And So Much More!
Links from the Show
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Market Madness: 8 Housing Markets We’d Place Big Bets on in 2024
Flip/Off: Whose House Flip Can Pull In the Biggest Return?
Articles from Today’s Show:
Squatters
Delinquency Rates
Home Renovation Costs
Housing Subsidies
Blackstone
Rent Caps
Check out more resources from this show on BiggerPockets.com: https://www.biggerpockets.com/blog/on-the-market-205
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The NAR lawsuit changed the real estate industry overnight. Just like that, buyer’s agents were no longer getting their standard three percent commission, and many investors began imagining what buying and selling homes would be like without realtors. But is this massive NAR settlement as dramatic as the headlines are making it out to be? Is there really an agent exodus on the horizon, or is this just a way for the bad agents to exit the industry quickly? We brought on a panel of top investor-friendly agents to find out.
Joining us are four agents from across the nation: Avery Carl, Craig Curelop, Juliet Lalouel, and Mike Savegnago. All of these agents are affected by the recent NAR lawsuit settlement, but they don’t seem so shaken up. For many of these agents, this lawsuit simply thinned the competition, putting the expert agents back on top while showing the less-than agents the door. Plus, after the recent deals they’ve done, they’re not too concerned about a lack of buyer’s agent fees.
Today, we’re asking each of them their thoughts on the changes to the NAR’s rules, how this will affect buying and selling homes, what this means for real estate agent commissions, and what agents should do NOW to get ahead of the game. Plus, since our agent panel is all investors as well, they give some crucial advice on finding an agent in your area that will help you build your real estate portfolio even bigger.
In This Episode We Cover:
The NAR lawsuit explained and what it means for real estate agent commissions
A “huge exit of agents” and how this could change the real estate industry forever
What to do when a seller offers you or your buyer’s agent a zero-percent commission
What real estate agents need to start doing NOW to ensure they still get paid
The key signs of an investor-friendly agent that any landlord should be looking for
Massive downsides of buying or selling without an agent (it will cost you…)
And So Much More!
Links from the Show
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Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever
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Compass is the latest brokerage to settle after the recent NAR lawsuit made sweeping changes to agent commission payments. With NAR, Keller Williams, Compass, and more associations and brokerages paying out massive settlement fees and rewriting their agent agreements, could we be on the cusp of even more lawsuits to come? We’re breaking it all down in this week’s On the Market headlines episodes!
First, we’ll discuss what happened in the Fed meeting last week and whether interest rate cuts could still be coming down the line in 2024. Unsurprisingly, the Fed has forecasted even stronger economic growth than expected, but will this hold rates where they are? Next, Compass pays $57.5 million to settle their antitrust lawsuit, but even with this week’s news and last week’s NAR settlement, many top agents aren’t seeing much of a change in demand.
Redfin reports on a sizable bump in housing inventory, with the “biggest increase in nearly a year,” as more homes for sale begin hitting the market. This is great news for the housing market, but will it start to slow down sales? Finally, we discuss how much you have to make to afford a $500K home and how affordability struggles could keep many Americans renting for much longer than they anticipated.
In This Episode We Cover:
Compass’ recent agent commission lawsuit settlement and what this means for investors
The Fed’s rate cut predictions for 2024 and when we can expect rates to finally fall
Strong economic projections from the Fed that point to a successful soft landing
What the annual spring housing inventory increase could do to the market (will it even make a dent?)
Housing affordability and how much you need to make to buy a $500K home
And So Much More!
Links from the Show
Find an Agent
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Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever
Flip/Off: Whose House Flip Can Pull In the Biggest Return?
Headlines from Today’s Episode:
Fed Meeting
Compass Settlement
Housing Inventory
How Much to Afford a $500K Home
Check out more resources from this show on BiggerPockets.com: https://www.biggerpockets.com/blog/on-the-market-203
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It’s March Madness season, so we thought we’d create a bracket of our own, pitting some of the best real estate markets against each other to see which one will win the top seed for best city to invest in 2024. Each of our expert hosts picked two real estate markets, all with a March Madness team, and share why these markets will beat out the rest in 2024. Need a new real estate investing market? You’ll find more than a few in this episode.
If you want a slam-dunk housing market with layup rental property potential and three-pointer demographic trends (population, jobs, and income growth), we’ve got you covered. We scoured the nation’s housing market data and picked some of the country's fastest-growing, most affordable, and highest rent-to-price property markets that you can start investing in now. And they’re not just good college basketball towns—almost all of the cities we list have standout rental property metrics compared to most average US cities.
Heard one of your favorite housing markets on this episode? Want to vote for the market you’re bullish on? Head over to the BiggerPockets Instagram NOW and vote for your favorite housing market for 2024; we’ll be sharing an update on the votes on a future On the Market episode!
In This Episode We Cover:
Coastal beach cities seeing MASSIVE population growth and strong appreciation potential
Kathy’s favorite Midwest market that offers affordable home prices and stable employment
A South Carolina city with well below-average home prices that even psychics predict will BOOM
An affordable market in the Northeast that hosts huge appreciation and one of the best universities in America
The “boring” southern city that’s sitting on a solid economy and cheap home prices
And So Much More!
Links from the Show
Find an Agent
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Get a Slice at Frank Pepe’s Pizzeria Next Time You’re In New Haven
Books Mentioned in the Show
Start with Strategy by Dave Meyer
The Small and Mighty Real Estate Investor by Chad Carson
Check out more resources from this show on BiggerPockets.com: https://www.biggerpockets.com/blog/on-the-market-202
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A bombshell NAR settlement could bring wide-sweeping changes to the housing market. After a snowball of NAR lawsuits, the realtor association agreed to settle for a whopping $418 million and make critical changes to how real estate agent commissions are paid and how competition can be upheld. This significantly impacts anyone buying or selling a home and has life-changing effects for every real estate agent and realtor in the country. The New York Times’ Debra Kamin joins us to break the story.
Debra breaks down the enormous legal loss that NAR (National Association of Realtors) suffered last week and the impacts it will have on the housing market. First, we discuss the new agent commission rules, which may break the standard six percent fee that realtors are used to taking. These commissions are real estate agents’ livelihoods, and a new model that supports lower commissions could force many agents to leave the industry entirely.
We’ll also touch on the turbulent times NAR has faced recently, from sexual harassment scandals to changing leadership and, now, a massive settlement that could lose them more than half of their members. Will a new type of real estate agent form from the ashes of this century-old model? Or, could a brand-new way of buying and selling homes transform the housing market? Stay with us; we’ll give you the entire scoop.
In This Episode We Cover:
NAR’s massive settlement creating ripple effects across the real estate market
The new real estate agent commission rules that could shock an entire industry
Changes to the multiple listing service (MLS) that may open the market up to new competition
The future of buyer’s agents and whether or not they’ll remain a critical component to buying a home
Sexual harassment scandals, turbulent leadership, and recent NAR struggles
What the future of using a real estate agent could look like
And So Much More!
Links from the Show
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The NAR Will Eliminate 6% Commission Standards and Pay $418 Million in Damages After Settling Lawsuit
Is It the End of the Realtor? Inside the NAR Crisis
New Agent Lawsuits Could Have Profound Effects for Buying and Selling Homes
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James Dainard, a house flipper in Seattle, Washington, has been on a flipping spree for the past two decades. He’s flipped more homes than you can count, made tens of millions in the process, and has built multiple massive businesses to support his flipping fixation. In the shadows, his young(er) protégé, Henry Washington, has been learning his every move and trick of the trade. To beat the top flipper, he must…become him. Now, these once brothers-in-flipping will face each other head-to-head in the money-making competition no one asked for but we wanted to make. This is FLIP/OFF.
Welcome to the 200th episode of On the Market! *confetti pops, fireworks go off* This time, we’re doing something special. This show will be a battle of the house flippers, as Henry and James detail two recent flips they’re working on and battle against each other to see who can score the highest return. Both of these deals are almost unbelievable in how high their cash-on-cash returns are, so if you want to know how REAL money is made in real estate, this is the show to catch!
Stick around because we’ll get into every detail and number behind these deals. Plus, we’ll be giving you deal updates soon, showcasing each flip and the progress our panel is making. Vote for your favorite flip on the BiggerPockets Instagram or the On the Market YouTube channel!
In This Episode We Cover:
A house flipping competition like never before (and the punishment at stake/steak for the loser)
James’ quick flip that could turn into a HUGE return in just a matter of months
House flipping risks and how longer timelines and delayed permits can destroy your profits
Henry’s home-run house flip that could make even MORE money than James’ much more expensive home
Burst pipes, flooding, mold, mildew, and even more fun surprises from one of these flips
Our favorite On the Market episodes of all time!
And So Much More!
Links from the Show
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Get All the Numbers from Henry’s and James’ House Flips
Our Favorite Episodes:
Homebuyers Are Getting Crushed: Are Landlords the Cause
Why NFL Players Are Buying Real Estate During the Recession
Listener Deals:
https://www.biggerpockets.com/blog/on-the-market-92?utm_source=youtube&utm_medium=description&utm_campaign=none
https://www.biggerpockets.com/blog/on-the-market-94?utm_source=youtube&utm_medium=description&utm_campaign=none
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The Fed isn’t happy, but what’s new? After inflation numbers were released last week, showing higher-than-expected consumer price growth, our rate cut dreams could be slowly dwindling. Are we still on a timeline to see lower mortgage rates by summer, or is the US economy just too strong to prompt any help for prospective homebuyers? This story, and plenty more, are coming up in this week’s headlines show.
Ever get that feeling that someone is watching you? Airbnb recently announced a new policy that banned indoor surveillance cameras in hosts’ properties. This is a shock for almost every Airbnb guest and most hosts, too, as it seems we all incorrectly assumed that security cameras were only allowed on the OUTSIDE of a property.
But this episode isn’t just about short-term rentals. We have some good news for housing inventory, as new listings finally saw a bump, helping add some homes to the already supply-strained market we’re facing. We’ll also talk about new unemployment numbers that are trending in a direction the Fed wants to see but may not be enough to convince them of a rate cut. All that, and more, in this episode.
In This Episode We Cover:
A housing supply update and the “surge” of new listings that hit the market
New jobs numbers and whether rising unemployment is something we should worry about
Why the Fed may become even more hesitant to cut rates in 2024
New inflation and CPI (Consumer Price Index) numbers (and what they mean)
Airbnb’s newest “no indoor camera” policy and what this means for anyone hosting a short-term rental
The naked man in James’ newest investment property (will he EVER get out?)
And So Much More!
Links from the Show
Find an Agent
Find a Lender
BiggerPockets Forums
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Join BiggerPockets for FREE
On The Market
Join the Future of Real Estate Investing with Fundrise
Connect with Other Investors in the “On The Market” Forums
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Henry's BiggerPockets Profile
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Kathy's BiggerPockets Profile
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Headlines from Today’s Episode:
New Listings
Job Growth and Unemployment
CPI and Inflation
Airbnb Cameras
BiggerNews: Why Mortgage Rates AREN’T Falling
Check out more resources from this show on https://www.biggerpockets.com/blog/on-the-market-199
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