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The 2024 Outlook For Real Estate Wholesalers

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on Tuesday, 31 October 2023
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What’s in store for real estate wholesalers in 2024?


Once again, the main theme of the year may be uncertainty. At least on the macro level. As well as especially when it comes to home prices and conventional retail home buyer activity.


However, what we do know for sure is that there are several factors influencing the economy and real estate in particular. As well as the opportunities they are likely to create.


Though it may not be until after the 2024 presidential election that real estate pros enjoy more clarity on the direction of the economy and property market, and are able to best plan, strategize and forecast their finances for the following four years.


Factors Impacting The Market For 2024

In 2024 we can expect to see the following factors influence the real estate market:


The impact of recent high inflation on living costs.

Living in a period of high interest rates.

AI and fast rising unemployment.

The ripple effects of escalating consumer distress.

Volatility in the stock market.

A high probability of new national or global crises.


Opportunities For Real Estate Wholesalers In 2024

The above is going to show in through a variety of opportunities for real estate wholesalers.


Firstly, we can expect a lot more distressed property acquisition opportunities, with highly motivated sellers who need to sell very fast.


The wealthy who are benefiting from recent trends will need to put more of their money into real estate to protect it. Both in the form of luxury residences and income properties.


Among the millions of those being negatively impacted by these trends will be many who need to get into real estate to make up for lost income. This may create a whole new pool of end buyers, partners, and potential workers for your investment business.


Take advantage of our 1% Fall interest rate deals, and get your proof of funds to start doing more deals today…

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Big Money Managers Have A $100T Problem

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on Tuesday, 24 October 2023
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According to Boston Consulting Group and Bloomberg, big fund managers are struggling. As this $100T space faces a revolution, where will the capital go, and how can real estate investors position themselves to benefit?


The Big Issue

The massive asset management industry appears to be facing a major inflection point.


Coverage of the issue reveals concerns that many large financial firms may face extinction in the near future. Their investor customers have been increasingly demanding cheaper, and more passive investment strategies.


At the same time, money managers face the challenge of trying to make more money in a bear market, which has already seen some lose money for 20 quarters in a row.


Reportedly 90% of the additional revenues these firms have enjoyed over the past 18 years is from the rising bull market, instead of attracting new capital from clients.


In the past six years investors have yanked $600B from these fund managers. With Blackrock seeing $13B in withdrawals in the past three months alone.


For Real Estate Wholesalers

As a real estate wholesaler, how can you benefit from this shift in available capital, and avoid repeating the mistakes these dying firms have made.


Don’t Count On Appreciation Alone


Even as a real estate wholesaler and flipper it can be tempting to sometimes make offers based upon a fast rising market. Whereas savvy investors are always looking to build in an equity cushion with their offers, just in case the market shifts mid transaction.


Sell To Those Providing Passive Income Investments


It seems that passive income investments are increasingly trending in demand. Consider how you can wholesale in volume and create a pipeline to those serving the end retail investors in this space.


Maintain Sustainable Margins


Profit margins that are too thin are frequently the cause of businesses failing. It can also be harder to raise pricing later. Be sure you are operating on strong margins in the beginning, with room to offer deals, and still make a profit.


Serve Those Fearing A Bear Market


Whether you believe it is a bear market or there is a new recession looming isn’t nearly as important as what end buyers and their clients think.


If that fear is driving their decisions and where they put their capital, be sure you are catering to them.


This may include altering the price ranges and property types you are targeting, as well as geographic areas.


Be sure to check out our 1% interest rate deals on loans over $600k, and scale your business this season.

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How To Beat Your Competition To The Real Estate Deals

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on Tuesday, 17 October 2023
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This is a fantastic time to be wholesaling real estate. Of course, that means that many others are hunting for deals too. If you believe that there is a shortage of publicly listed properties for sale, that may make it even more challenging if you’ve relied on that for deals in the past.


Here are five more ways to out maneuver and beat your competitors to the punch.


Failing Competitors

Even though the real estate investment remains strong and attractive many started folding their businesses out of fear at the beginning of COVID, then as rates hiked.


Even though they may have stopped actively investing, many have portfolios of properties they are holding. Or at least sizable databases of seller leads.


You may acquire their company, their real estate assets at a discount, or their lead lists.


Insurance Agent Referrals

Insurance agents are among the first to find out when people find themselves in a crisis. That may be a health issue, a car accident, or damage to their properties.


In a few cases their clients may get payouts that make them strong cash buyers for your properties.


In most cases insurance companies do not pay claims. If they did, they wouldn’t be in business or so big. In these scenarios policy holders may have to sell their homes fast for cash.


Lumber Company Leads

This is another untapped referral source. When trees fall on garages or homes, lumber and tree service companies get the first calls.


In other cases these referral sources can tell you when prospects are desperate for cash and are trying to sell their trees cheap. Or where there may be a property which also has a lot of value in timber rights. Money that may be used for helping to acquire or extract extra value your competitors don’t see.


The Unemployed

The AI revolution is creating levels of unemployment and interruption to income at a scale we’ve never seen before.


The vast majority of property owners cannot afford to carry their mortgages for even a month or two without a paycheck.


Depending on your contacts and access to data, you may find these sellers by tracking employers that are making layoffs, through recruiters, new credit defaults, and job wanted ads.


Be The Fastest And  Most Attractive Buyer

Have your proof of funds in hand, along with a contract, and be willing and able to close faster than your competition. Those things can mean a lot more to sellers than the top line price today.

Be sure to check out our Fall Deal with interest rates as low as 1% on loan amounts over $600k.

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5 Ways To Find House Deals Now

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on Tuesday, 10 October 2023
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According to the narrative the mainstream media is selling, house prices are shooting up thanks to a lack of property for sale.


At the same time, common sense, and the data suggests that there is a tremendous amount of financial distress out there.


So, how can you find the houses and do more wholesale real estate deals?


Sure, there are many tools being advertised online for identifying properties and leads virtually. Of course, this may not work as well as it is marketed, and may now be saturated with competition.


Try these ideas instead…


Realtor Yard Signs

It may sound counterintuitive. However, many properties do not sell simply because agents fail to answer their phones or respond to leads.


Try calling on the for sale signs you see. If they answer, you may be able to strike a deal that way. If they don’t, then you can bet the owner is stressed and frustrated, and is looking for another way to get their property sold. Just be mindful of the rules regarding commissions being due.


Old Listings

Brand new listings get all the attention. You’ve probably got alerts to new listings yourself. That’s often not where the real deals are.


When was the last time you scraped older listings on Craigslist for example? Ads that may not be getting any competition. By now the owners may be even far more motivated to strike a deal and offer a discount.


Private Lenders

Private lenders have been incredibly busy putting out money over the past few years. Now many of their borrowers are not paying. Even though there may be equity in properties, and lenders have more than made their money already.


Lenders may foreclose and flip you these deals. Or simply introduce you to their borrowers to work something out.


Blog About It

Social media may be super saturated with cheesy junk, and so many ads that users have become immune to them. Yet, when it comes to homeowners searching for help, they’ll still most likely end up on Google. Which is going to feed them articles, blogs, and websites around their search terms.


Try starting a blog, or reviving and scaling one you’ve already got. Publish some content focused on how to sell your home in a variety of situations, and become the trusted advisor they turn to.


Inherited Property

A grim, but true statistic is that almost 3.5M people die in the US, every year. Based on homeownership rates, more than half of them may own a home at the time they pass away. This alone is a huge pool of properties.


Heirs and loved ones left behind need help. They are often left with a big debt that they cannot carry, and a lot of work. Often they just want to turn those properties into cash as quickly as possible.


However you plan to find your house deals, check out our Fall interest rate deals from 1% for funding your next acquisitions.

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Real Estate Investing: How To Prepare Yourself To Win In The New Economy

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on Saturday, 07 October 2023
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Want to ensure your real estate business takes off and continues to flourish in the next few months and years?


It’s amazing to already see the great disparity dividing investors, entrepreneurs, and businesses. Some are going bigger than ever with ease. They are growing into new niches, with $100M pipelines and plenty of deals and capital lined up. Others are already struggling and the fear and doubt that is creeping in could prove self-fulfilling.


Whether you are just starting out in real estate, have been riding the recent bull run but haven’t experienced adversity before, or have been at it for decades, there are both regular cyclical and major macro economic shifts happening.


In order to get ahead, and keep winning and growing, you’ve got to be intentional about it.


It may take some tweaks to your model, or a whole new approach. This is an important time to refresh your perspective and anchor it in what really matters and will make you successful.


Consider these 10 ways to prepare for success in real estate, and avoid being swept away by external changes.


Take Stock Of What Really Works

What has really been working, and has directly created your success so far. Be sure to differentiate between those fundamentals, and the frills that may have come along with it.


For example; it was probably working the extra hours and going above and beyond to take care of those customers, not the Ferrari that got you there.


Remember the progress you’ve made and what you’ve achieved so far.


Take Time Away To Think

There are so many distractions around us. Which is often what leads to making serious mistakes, and continuing to slide into failure.


Take a long weekend away. Detach from the everyday tunnel vision. Gain time to truly think and focus.


Unplug and evaluate. Then take time to see new things, and what’s really happening outside of your own little bubble. See how so many are actually struggling right now, as well as how others are doing so well that they are oblivious to this. See new ways of doing things.


Relist Your Priorities

What is really most important to you?


Above the work, is it your family, a partner, or your own health?


In real estate, which metrics and KPIs are truly most important? Hint; they are probably customer happiness, NPS score, and net profit. Everything else may be a dangerous distraction.


Learn What The Successful Are Doing

How are those that have been through these changes before handling it? Not just what they are saying or recommending, but what are they doing in their own finances and business? What have they done to survive and thrive through changes and challenges in the past?


Is it shifting investment strategy, increasing marketing efforts, or being more prudent in their offers?


Read books by real human authors, with real experience. Join mastermind groups or start your own. Hire the right team for this phase of your business, and be sure you hold onto them.


Make Sure Your Team Gets It

Most founders should be horrified by the gap between their initial vision and efforts, and how the business ends up getting run on the front lines.


Ensure your team knows the big vision, the why behind changes, their most important metrics, and the values that are there as guide rails to get there.


Discern What Will Stay The Same Vs. What Will Change

You’re probably far too behind the trend to slap the ‘AI’ label on your business and hope it helps. Now we even have AI created Coca-Cola. It’s become a cheesy and cringe worthy meme, more than a signal of value.


It can help to sail with tailwinds, yet it is being strong in the fundamentals that make a good and sustainable business. Then you build the marketing on top of that.


Refresh Your Morning Routine

It may be time to shake up your morning routine. Add new important tasks. Ensure it anchors you in a positive and successful mindset to overcome the day ahead.


Be sure to check out our Fall Funding Deals, with interest rates as low as 1%.

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Digital Nomad Visas May Change Where People Live And Work

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on Tuesday, 26 September 2023
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More and more countries are developing their own Digital Nomad Visas for the new remote workforce. How might this change alter where people live and work, the dynamics of rentals and real estate? Where might you want to travel and work from as a real estate wholesaler?


Digital Nomad Visas

Now that the workforce has changed to being remote first, more and more people are wanting to flex their new found freedom to travel and work from new places.


With other recent economic changes, many individuals are also being forced to find friendlier and more affordable places to live and work too.


According to one list, at least 58 countries now have some form of Digital Nomad Visa. A type of immigration visa which allows you to go live and work there remotely. Often for between 6 months and 3 years.


The entry requirements and fees for these visas are far lower than for traditional visas and residency programs. You normally just have to prove you make a minimum amount of income each month, or have enough money in the bank to sustain you while you are there. This can range from a few hundred dollars a month to several thousand Euros.


Countries are seeing this as a way to boost their revenues, popularity, and to attract great talent.


Why You Should Try It

While there may be some perks of wholesaling properties in your own backyard, travel is a common thread linked to success in entrepreneurship. It is also completely unnecessary to restrict yourself to only operating locally anymore. If not highly risky.


Travel can give you new perspectives on things, and great new ideas. It can broaden your network and contact database. Then you might just find somewhere you love more for the weather, culture, and which allows you a better quality of life, at far lower costs. Taxes are complicated, but there may also be benefits there too.


Where To Go

In reality, most countries will allow you in on a tourist visa, or just as a tourist without a visa for 3 to 6 months anyway. So, you don’t have to restrict yourself to countries offering Digital Nomad Visas. The US does not currently offer one.


You may want to explore:


Croatia

The Bahamas

India

The UAE

Nicaragua

Cyprus

Greece

Spain

Portugal


The Impact On Real Estate

The current direction of the economy, the AI revolution, and the availability of Digital Nomad Visas all seem to be working together for remote work to have an even bigger impact on real estate.


Even in the US, where we may not see such a visa, we can expect this trend line to impact how cities market themselves and how much of this business they will win. For landlords, it may mean more short to mid term tenants, and professional tenants. Whose needs are also different. They need furnished places with good wifi. They may pay a range of rates from dirt cheap to higher Airbnb prices. Though they are going to pay based on what they can afford in monthly rent, not vacation prices.


Consider how this may influence your real estate wholesaling business, your pricing, and where the hot places to flip houses will be next.


Then take advantage of our 1% Fall Mega Sale, with interest rates on your funding as low as just one percent. Check out the details here.

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When Sales Deals Wreck Your Business Versus Creating More Wins

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on Tuesday, 19 September 2023
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Everyone loves a good deal. Shoppers of all kinds are demanding better deals and are being even more particular about how much they are willing to pay.


At the same time, businesses are often failing even harder than ever on this front.


A good sale and discount can make your business. A bad one can prove very costly, for a long period of time. This is especially true for real estate investors, from Airbnb landlords to house flipping. Even more so if you are wholesaling real estate.


This is perhaps even more pertinent for all real estate professionals as we enter the annual sales season, from Black Friday through the end of year and after Christmas sales.


What Is A Good Versus Bad Sale Deal?

A good sale is one that provides real value to your customers. One that also catches their attention, and inspires them to take action.


More importantly, it can not only bring back valuable customers, but help win business from new ones. Not just this month, but every year. As well as creating new brand ambassadors who will spread the word to others for you, for free. It brings real ROI for you over the long run.


This is in stark contrast to poorly thought through and fake discounts that may work as a one off, but then burn the relationship, and cost you future business and value.


Sales Fails

McDonalds recently had a big sale fail of its own. The fast food chain hit the media for National Burger Day with the news of one cent or 50 cent burger deals.


Sounds great, right? Many might have thought about rushing off to try McDonalds again after a long time, or taking the whole family. It could have been a huge chance to win new and old business back.


Then came the fine print. This, like many other similar recent offers was only for select customers, those using the app, or rewards members.


That was just bound to leave a bad taste in many people’s mouths.


Instead of building trust and making people feel valued, it meant you’d have to trade countless amounts of your time forever due to spam, as well as your personal information. Much like so many failing rewards programs today. It’s more like penalizing consumers, rather than earning their loyalty by just giving them good deals they’ll want to come back for.


Then there have been marketers and sales companies spamming inboxes with 90% off sales. That’s a little too much. It seems too desperate. How valuable can it really be, if they are going to give it away that cheap? That may erode a brand’s value more than build it.


Fake sales have become another problem. Consumers have become so savvy to retailers hiking prices before big sales events, then marking them down to appear like sales. Now they’ll check out prices in advance and do their research to know if that’s really 50% off of the regular price, or if the company just doubled their prices to make it look like a 50% sale.


These extreme measures and sales can be unnecessary in some circumstances. You’ve got to know what is enough to make buyers be compelled to the point of taking immediate action. In some cases and periods that may just be 10%. At other times it may be 25% or 60% off.


Wholesale Real Estate Deals

What makes an attractive wholesale real estate deal for active investors does change over time.


No matter whether you are operating in the pit of a recession or crisis, or at the peak of confidence and values in the market, remember that while you can fool people once with a poor deal, offering a truly good deal can turn into ten deals a month, every month from a single buyer. Even better, once they know they can trust you to give them good deals, that are what you say, it becomes so much faster and easier to do transactions. In turn freeing up a lot more time, and creating a lot more profit too.


On that note, check out our 1% interest rate deal on your larger sized loans, so that you can apply this and scale your wholesaling business.

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The Best Ways To Approach Distressed Property Owners

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on Wednesday, 13 September 2023
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Financial distress is growing across America. What’s the best way for real estate investors to approach these property owners to secure great deals?


Financial Distress Is Rising

Current monetary policy continues to try and hammer the economy into submission. We’re already seeing the effects in terms of delinquent auto and business loans, credit card debt, and nonperforming mortgage loans.


This combined with mass layoffs, inflation, and other disasters like hurricanes is only increasing the likelihood of many more commercial and residential property owners falling into despair and foreclosure.


The Best Ways To Approach Owners

Approaching these owners can be a very delicate situation. One which most investors and real estate wholesalers get wrong.


The first thing to remember is that everyone naturally gravitates away from pain, and toward pleasure.


So, showing up scaring them and acting like a vulture or another debt collector is probably not going to get you anywhere. They are already inundated with calls from creditors. None of whom end up really being helpful.


Often this means that avoiding any letters, emails, and phone calls often becomes the least stressful option for them. At least until they are evicted.


If you are going to win them over, you have to show that you are going to offer them a real solution, and a better solution that is more pleasurable, and is worth their effort.


A part of this is also giving them a viable and dignified exit.


Some are so scared of having nowhere to go, or just can’t stomach losing that they will be frozen into inaction.


Can you offer them enough cash in the deal to move into somewhere that they can uphold their lifestyle for their families?

 

Then there is establishing a sense of urgency.


Many of these owners may not seem very motivated to sell. This is often because they believe random help from the president or the sky will provide them a golden bailout and free pass to stay. Or that it may take many years before they are foreclosed on and evicted.


You may have to carefully educate them on the likely timeline and their options. Which is a good opportunity to lay out your own offers. Which may include two or three choices, for a limited period of time. After which they go down.


Then it is all about maintaining the relationship. Being there, top of mind as a trusted advisor when they are motivated enough to take action.


Finance Your Deals From 1%

Be sure to take advantage of our MEGA rate sale, with interest rates as low as 1%. Check out the details here.

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Up To 90 Percent Of Home Buyers Choosing Based On This One Factor

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on Tuesday, 05 September 2023
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New data from Zillow and Bloomberg shows that as many as 90% of home buyers are now factoring in climate and natural disaster risk to their choice of where they are buying a home.


How might this impact the real estate market? How will it affect property investors? How can you stay ahead of it, and use it to your advantage?


Climate And Disaster Risk

The data shows that nationally 83% of buyers are weighing this factor in their home buying choices. Including hurricanes, flooding, wildfires, droughts, and extreme temperatures.


Many are just tired of dealing with the same issues every year, and seeing their lives interrupted, or homes damaged again and again.


Others are just thinking forward as they try to make the best home investment possible.


How Will It Impact The Market?

The most obvious answer is that this shift in awareness and decision making will alter where the most volume of demand is for home purchases and investment properties.


However, a Zillow survey interestingly shows at least one quarter of respondents reporting they are actually moving to a riskier, rather than safer area.


This may be primarily due to other drivers in the current market. Such as rising crime in some cities, and lack of affordability in Northeast states.


We may see old high end housing markets continue to become more dominated by second residences, with buyers choosing primary residences in safer and more affordable areas.


It is not just about geographic risk either. A lot of it is also about specific properties. For example, choosing newer inventory that has been built to higher standards, and at higher elevations. Which in some areas is causing issues and potential devaluation for existing older homes that are now flooding due to run off from higher neighbors.


Staying Ahead Of The Curve

As a real estate investor it is vital to evolve with market shifts like this.


It may influence where you target making real estate offers in the next few months and years. As well as the types of properties you are targeting, and how you formulate and price your house offers.


No matter where you are buying and selling homes, use this as a big highlight in your marketing. Point out security features, like new hurricane shutters, adherence to new building codes, and where your listings have low risk levels compared to your competition.


Check out our 1% interest rate MEGA SALE now, and submit your Funding Request to get your next deal done.

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Finding Pre And Post Disaster Real Estate Deals

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on Monday, 04 September 2023
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Hurricane Idalia is yet another fresh reminder of how every area has some disaster risk.


As a real estate investor it is all about understanding how to mitigate, balance, and profit from that risk, in the right way.


Every disaster threat, from seasonal hurricanes, to wildfires, and snow storms bring their threats and opportunities. Both before and after they hit.


Pre And Post Disaster Real Estate Offers

Many sellers will be willing to offer big discounts, just to get out and put some cash in their pockets before a coming disaster, or disaster season.


If you have the stomach for it, and good strategy and tactics that mitigate the risk, you can acquire properties at deep discounts that end up not being impacted at all.


Post disaster, many owners will just be too scared to go back, or tired of living through these annual storms, even if their properties were not affected at all.


Of course, you should always have properties inspected after a disaster like this, or price your offers to include the worst case scenario. It is not uncommon for unscrupulous investors to try and cover up flood damage and mold.


Get your Proof Of Funds from Best Transaction Funding now, so that you can get out there and make offers with confidence.


Making Offers With Care

Just because sellers are highly motivated or desperate does not give you a pass to abuse them. Make offers with care and etiquette that help them. While allowing yourself to be fairly compensated for your part.


Just as it would be in pretty bad taste to be calling your tenants demanding rent right in the middle of a hurricane. Or making your team be out on the job in unsafe conditions, without giving them time to protect their homes and families first.


After the storm, you need to consider how you will kindly deal with desperate renters applying or buyers who need a roof over their heads.


Often during the post disaster period property prices can actually skyrocket due to reduced inventory, and thanks to many buyers being rich with cash from insurance payouts.


Submit your Funding Request and get your next deal financed today.


Insurance

Even if not necessary, insurance can be wise in these circumstances. Just understand all of the loopholes insurers use not to payout, and how long the lag time between damage and claims being paid can be. It is not uncommon for that to take years, and lots of negotiations.


Investment Strategy

Some areas will just keep on getting hit year after year. Some will keep rebuilding. Others will grow tired and give up. Or authorities will acquire land and temporarily block development.


Consider whether this is a good area for a buy and hold, construction heavy fix and flip, or just a fast in and out wholesale deal.


Check out our MEGA interest rate sale, with rates from just 1% this fall!

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1% Low Interest Rate MEGA Sale On Jumbo Loan Sizes Now

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on Saturday, 26 August 2023
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While other mortgage lenders are hiking their rates like crazy, Best Transaction Funding are slashing their interest rate deals.


Our MEGA fall sale offers just 1% on loan amounts from $600k to $1M*.


Simply enter Coupon Code "1%MEGABLAST" with your funding request.


Applies to all loans closing before the end of the year.


This Is The Time To Buy

This is a fantastic time for real estate wholesalers to be buying and lining up deals.


Fall is the best season for writing offers on property. There may still be the tail end of the back to school season to capitalize on. After which sellers panic during the following seasonal lull in competition.


Other recent trends in mortgage rates, and home loan defaults are compounding this, so that real estate investors can take advantage of more negotiability, and even better discounts on new properties.


Line Up Those Windfall Profits

Some housing markets are still experiencing up to 40% year over year appreciation. Both hyper affordable markets where people are moving to, as well as wealthy enclaves used for asset protection.


Others will see their uptick closer to the end of the year. Annual bonuses, a surge in economic and real estate activity from Black Friday through New Years Eve all help to make this one of the great time to sell.


We’re Here To Help

Other real estate lenders are just hiking interest rates like crazy, because they think they can.


We truly want to see you succeed and grow your business.


So, while unconventional, we’re slashing our rates to put our money where our mouth is. Plus, enjoy our same great human service for getting those deals that make sense done.


Request your POF or apply for your loan with us and lock in this deal today!


*NOTE: This 1% sale is not to be combined with any other special offers and referral fees do not apply.

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7 Tech Mistakes That Are Killing Real Estate Businesses Now

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on Thursday, 17 August 2023
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These tech mistakes are devastating businesses, and are setting many real estate companies and investors up for bankruptcy.


Be sure you aren’t copying these blunders that can cannibalize your venture.


Artificial Intelligence

Just as spell check and autocorrect tools still haven’t been perfected and create a lot of frustration some 20 years later, there is still a lot of intelligence lacking in AI tools.


It may be trendy, and we all have to adapt to the times, yet, poorly implemented this is destroying even large multi billion dollar companies rapidly.


The biggest and most devastating issue here is installing AI chatbots and doing away with human customer service. It is just alienating the best leads and long term customers and revenue sources.


Then there is ChatGPT, spinning out cheap low grade content which is no doubt burning years of work and investment in SEO rankings. It may be used for expanding your non SEO content, such as emails, as long as you manually review them word by word. Though overall, it is likely doing more harm than good to most real estate companies. Many may find it costs an enormous amount to recover from these mistakes, if they can escape Google penalties.


Automated AI based decision making tools, such as for credit, also bring more risk than most have thought through. They have not been tested in the courts yet to fully see the liability at stake.


Privacy & Data Protection

Especially when it comes to plugging in new tech tools and automation businesses are requesting more sensitive data than ever. Including IDs, facial recognition verification, and more.


These are an area of massive legal liability. Only collect what you need. Only hold onto what you need. Be sure you are in compliance with data laws, and have the legal team and finances to deal with any issues that arise from data breaches and hacks.


Not Testing From A Consumer Perspective

Do embrace new technology. Just make sure you are first testing it thoroughly from your customers’ perspective, and routinely test it again.


If it is not adding value to them, and making the experience better, it will cost you a lot more than you think the efficiency is making you.


Failing To Hire The Best Talent

The best team wins. You may not be able to afford to keep up with paying current rates of $390k to $900k a year for AI talent. Though you can, and must afford the best business development and marketing managers you can find. Those that can bring years of experience across all mediums, channels, and technologies, and help implement the right choices for your company with a refreshed and modernized strategy and plan.


Failing To Update Websites

If your website is so outdated that it burns teenagers’ and childrens’ eyes, it’s time for a makeover. Today, it’s not only about design in visuals, but also carefully crafting words that sell.


Not Using The Data That’s Available

The recipe for success is combining human expertise and hard data.


Don’t guess what is working in your business and marketing, or believe the mainstream media headlines for what’s happening in the economy or with inflation.


Use the most accurate data you can find. Make sure that it is interpreted accurately, with relevance to your industry and individual business and customers.


Not Prioritizing The Right Metrics

When you start digging into the data it is easy to get lost and distracted with so many metrics.


Focus on your NPS score and real profit.

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5 Tips To Sell Your Houses Faster In This Market

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on Tuesday, 08 August 2023
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There is a lot of confusion and misinformation out there on the current state and direction of the economy. Still, the bottom line is that selling your houses faster is still better. If not absolutely vital.


How do you do it?


Price It Right The First Time

All properties will sell if they are priced right the first time.


Do not assume that you can just lower your price later and get the same traction. It will likely be ignored by the best buyers. If it attracts anyone a second time, they are going to see you are desperate, and low ball you.


Terms

Selling and selling a house fast is always a balance of price versus terms. In this environment, terms may be even more important.


Including not only seller financing, but accepting lower earnest money deposits, and being open to negotiating other factors in the deal as well.


Incentivize Agents And Referral Partners

Make sure that you are their best paying customer or partner so they prioritize selling your properties above all others.


Further incentivize them with bonuses for selling your properties within a certain time frame.


This can be far more profitable than having to deeply discount your price later. It enables you to optimize profit, and compound your gains into more deals throughout the year, with far less risk.


Pre-Sell Your Properties

The battle is 99% won already if you’ve built a waiting list of buyers in advance.


This way you can wholesale them in hours, and already have a solid exit, before you even buy.


Be Sure That You Are Marketing To The Right Buyers Now

The market is always changing. It has certainly changed a lot this year already. That means your ideal buyers, and most likely buyers have been changing as well.


Marketing has also changed dramatically due to technology and AI.


Be sure you are keeping up and staying ahead.


This may require getting some unbiased external perspective from a professional real estate marketer. You certainly need to reevaluate your marketing strategies and target customers.


This may require embracing new strategies and channels, and revamping your offers, and site content.

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Fed And Bank Of America Think We’re In A New Bull Run Economy

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on Thursday, 03 August 2023
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Now both the Fed and Bank of America are reversing their forecast for a new recession. What does it mean for real estate investors? What if they are wrong?


Which Way Is The Economy Headed?

In spite of projecting a $50B loss just a few weeks ago, Bank of America has now joined the Federal Reserve’s messaging that we no longer need to worry about a looming recession.


Recent GDP data suggests that the economy is growing well again. Though other data compilers suggest business tenants are falling delinquent at high rates, and foreclosures are rising again.


Some may say that this disparity is due to misleading averages. With a small percentage of people and companies making outsized profits, and the majority seeing their finances contract.


Of course, while fundamentals are the reality we have to build with, as we’ve experienced in the past, sentiment alone can drive or crash economies and individual market sectors.


What New Optimism Means For The Real Estate Market

New optimism in the economy, especially driven by the Fed and major banks is likely to lead to more interest rate hikes, as well as an easing of lending. With more private capital flowing as well.


In the current environment, this would also mean fueling inflation. As well as the potential for more hiring and salvaging jobs that may have been in question a few weeks ago.


This would support more confidence in buying and leasing both residential and commercial real estate. In turn, driving up prices even further.


What Happens If The Experts Are Wrong?

Of course, those top headline news stories are not always something you can rely on. No one gets it right 100% of the time. Especially when it comes to pinpointing turns in economic and market cycles.


If this rebound does not appear, then we could see even more layoffs, loan defaults, and bankruptcies.


Perhaps what is most important as an investor is to remember that every segment of the market, and every location is on its own timing in the cycle. It’s about finding the gaps, and bringing together the distressed opportunities and motivated sellers, with motivated buyers who see the value in paying more. Focus on this, and the fluctuating forecasts don’t have to impact you and your income or wealth. Decide to control your own destiny.

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Fed Pushes Interest Rates To New 22 Year High

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on Thursday, 27 July 2023
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The Fed’s latest hike puts interest rates at their highest level in 22 years. What does it mean for the economy, property market, and investors?

 

Higher Interest Rates, More Economic Turmoil

With the Fed saying they do not expect a recession, the odds of further rate hikes in the near future seem even higher.


The officially published numbers put economic growth well ahead of expectations. Even though many business owners would disagree.


This may well be the result of misleading averages. In which a few that are outperforming at great scale are masking the distress and decline of the majority.


The same also appears true of the housing industry. Where some markets continue to experience 40% plus annual growth. While others are seeing steep declines in how much buyers are willing to pay for properties.


Whatever is happening behind those headline data points, we can expect that current monetary policy is going to make credit harder and more expensive to get than any other time in many people’s and company’s lifetime.


How do you deal with this as a real estate investor?


Use Short Term Real Estate Financing

If you are wholesaling properties in days or hours, then high rates won’t hurt you.


It’s just a problem for those that get stuck in longer than expected renovation and construction projects, and long term hold landlords. Who should not be counting on rents and resale prices going up forever.


Transactional funding is probably the best example of great short term real estate financing.


Find The Distressed Owners And Sellers

There are millions of businesses and homeowners already being hurt by high inflation, high interest rates, and mass layoffs. Find those in distress and help them.


You may focus on the lowest hanging fruit, for example those already in foreclosure. Or get ahead of your competition by looking into the leading indicators of this distress and reaching them earlier in the journey. That may be looking at the amount of debt they have, or their location.


Find The Hungry Buyers

There is still no shortage of hungry and interested buyers. Match them up with your deals.


Again, you can hire a better part time CMO or marketing manager to get your listings to stand out above the rest. Or you can find them early and create waiting lists. Hone in on the triggers that indicate they may need to move or buy something soon. This could be mass layoffs by company, deteriorating metro areas with high crime, or rising taxes, and patterns of actively buying investment properties.

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Been Laid Off? Wholesaling Real Estate May Be The Answer

by blogger1
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on Thursday, 20 July 2023
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If you’ve been laid off, see it coming, or have even just had your hours and income cut back, is wholesaling real estate the answer?


Mass unemployment is snowballing faster than most realize. It’s a domino effect that isn’t just going to wipe out far more jobs, but also most retirement accounts that are not anchored in tangible assets.


If you or someone you know is in the path of this financial avalanche, wholesaling real estate may be the only thing to cling onto in order to survive it.


Mass Unemployment Is Coming

It’s already surging under the radar of official statistics and lagging data. Don’t be surprised if we exceed 20% unemployment by next year.


Consider that out of just over 330M people in the US, only just over 60% of those have been participants in the workforce.

Then look at all the big corporations and tech companies that have been laying off tens of thousands of employees. Including Goldman Sachs.


Then you have AI and automation replacing your gas station and grocery store clerks. Then soon all of your delivery drivers, warehouse staff, and uber and truck drivers.


On top of that the Bureau of Labor Statistics puts around 10% of the entire population working in customer service. About 20% of the working population. All of whom could be quickly unemployed by new technology.


Then another 18M freelancers working on jobs that could soon be replaced by robots. Even if those robots do a terrible job.


In turn, the fallout will force other businesses to fold and make layoffs.


With hiring freezes in place, don’t count on finding another job.


What Can You Do?

You can’t just live off of your savings. You can’t take a job that doesn’t keep you ahead of real inflation. Which by the way is still up by high double digits. These are just paths to a slow financial death, and a lot of stress and sleepless nights.


Entrepreneurship and investing seem to be the only viable answer. To be creative and find a way to create your own income, without relying on anyone else.


Of course, most businesses still have high startup costs, and are slow to produce any meaningful income.


Trying to sell enough products on Letgo or Amazon to pay your bills is going to take a while to build up.


Real estate obviously stands out as an answer. Though most do not have the very, very deep pockets needed, or capital of their own they can afford to bet on rental properties and fixing up and reselling homes. So, what’s left?


Wholesaling Real Estate

For most, wholesaling real estate may be the only thing that can save them.


Using transactional funding, you can have 100% of your deals financed, including closing costs. Even if you’ve taken some credit hits lately.


This is a real estate strategy that allows you to get in, out and paid, in just days. Providing anywhere from $5k, to $50k, to over $500k in profit per deal.


You probably don’t need many of those each month to replace your old income.


Now is the time to get ahead, even if you haven’t been laid off yet.

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AI Could Create Double Digit Unemployment By End Of Year

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on Thursday, 13 July 2023
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AI is trending. It could also create a new downward trend in the economy, and double digit unemployment in just a matter of months.


What does this mean for real estate investors, and where the deals are at?


Change Is Coming Faster Than You Think

When the economy fell off a cliff, seemingly overnight in 2008, business owners and investors thought that they still had 6 or 12 months before a crash. Then it was too late.


With lagging economic data, technology speeding up change to its fastest pace ever, and the Fed with its foot to the floor on the gas pedal to try and increase unemployment and cool the economy, many will wake up tomorrow and find their world has already been disrupted.


Double Digit Unemployment

Even the most vocal advocates of AI and automation technology have also voiced their fears that their success will also create massive unemployment around the globe. Which in turn could create immense poverty.


It’s already happening.


Some AI may be helpful. Unfortunately, it lacks a lot of intelligence in favor of a lot more artificial help. Almost every business seems to be trying to implement it. Yet, without understanding how it is already killing their own businesses.


Virtually all stores are now installing self checkouts, and are putting workers out of work. The frustration this is causing for consumers will likely push them to just a few delivery services.


Big companies like Upwork have replaced human customer service with AI chatbots, which are killing their relationships with their biggest revenue producers and most loyal, long time customers.


According to the Bureau of Labor Statistics, there are almost 3M people working in customer service in the US alone. That represents nearly 10% of the population. Close to 20% of the working population.


Then with many companies blindly turning to AI for content creation, without thinking about how counterproductive it is, and how junk and repetitive content is killing their companies, there’s another 18M freelance jobs at risk on Upwork alone.


More unemployment will be created as even jobs not directly replaced by AI will go away as these companies fail, due to implementing it too early.


It’s easy to see how this could potentially snowball to high double digit unemployment in no time at all.


Discounted Real Estate Buying Opportunities

Mass unemployment and business failures would also mean a tremendous amount of financial distress, credit defaults, and discounted property buying opportunities. Both in the residential and commercial space.


Few many want to hold real estate in a declining market. Though there will be plenty of end buyers who do. This makes for the perfect environment for wholesaling real estate as a strategy.


You can flip to luxury buyers needing asset protection, foreign buyer with economies hit harder than the US, and those investors operating and switching to truly affordable rentals, including Section 8 owners.


Win the space with intelligent human service and differentiate your business with it. You can implement AI later, in the next wave when the kinks are worked out, and there is clarity on the consequences, as well as potential benefits.

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Bank Of America Expects To Lose $50B

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on Wednesday, 05 July 2023
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While many parts of the country are seeing very strong and growing real estate markets and home prices, new data seems to reflect a sizable amount of stress still bubbling under the surface.


What does it mean for real estate investors?


Bank Of America Expects To Lose More Than $50B

While the Fed has proclaimed that banks have been passing stress tests with flying colors, Bank of America seems to be among those that are much more pessimistic.


The Feds have predicted the bank will bring in a lot more revenue, with fewer losses than the bank is forecasting. Which across anticipated losses on loans and credit, and goodwill, they expect to exceed $50B, in just a nine month period.


Interestingly, while the Fed is expected to continue hiking interest rates, they are also calling for banks to have higher capital reserve requirements.


We can expect these trends will make banks even more cautious about making loans, and their capability in doing so. Especially on the consumer and homebuyer front.


Airbnb Revenues Crashing

While Airbnb hotly contests the numbers and say they are growing, one short term rental data analytics firm has proclaimed that hosts are suffering a 50% drop in revenues.


Altogether the above suggests that many short and long term rental property landlords may be about to run into more issues. Both in being able to get financing and making ends meet.


Real Estate Wholesaling

While there will continue to be buyers of income properties, that pool may shrink. There are also likely to be a lot more distressed asset sales coming down the pipe.


Real estate investors that are on the front lines of this may find it high time they switch to a real estate wholesaling model.


This enables you to get in, out, and paid, without worrying about long term financing, or renter dynamics. Nor being pinched between inflation and rent controls.


Best Transaction Funding is also continuing to actively lend on wholesale deals.


If you need to keep your income up, profit margins up, and utilize smart leverage, it could be time to embrace this model.

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The Great Wealth Migration: How To Benefit From It

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on Thursday, 29 June 2023
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Bloomberg has just mapped out a recent $100B shift in wealth in the US. Where is the money leaving and going to? How can you make sure you are a beneficiary rather than a loser in this transition?


Wealth Is On The Move

According to a new map from Bloomberg News, $100B in wealth has already shifted. Mostly to the south. Much of it out of California, and the Northeast, and even mid-east coast.


Some has gone to parts of central Texas. Though Arizona has been a significant recipient too. With Florida appearing to be the biggest winner. Though, with wealth actually leaving the Miami and South Florida or Orlando areas in favor of more northern parts of the state.


More Wealth Migration Is Coming

There are many factors which are highly likely to keep on moving wealth.


This includes continuing to compound the reasons people and businesses are fleeing, with higher taxes, and unfriendly environments for businesses.


More Fed interest rate hikes are expected this year, which will compound inflation and force more to move out of lack of affordability.


Predictions that inflation will fall by 2% by 2024 are likely just playing smoke and mirrors with the data. Even if it comes down 2%, but real inflation has risen by 30% or more recently, that isn’t near enough of a cut to make a difference for most consumers, workers, and property owners.


The Real Wealth Shift To Care About

The real wealth migration that should be on our minds is that between individuals and corporations, or other entities.


We are probably about to see one of the most significant of these shifts in our lifetimes. The richer are getting much richer, much faster. The middle class and below are going to be bled dry fast.


As a real estate investor you want to make sure you are on the receiving end of this wealth. There are several ways to position for this.


Which includes operating in the states and areas where the money is moving to. When the money moves it, that means big bumps in house prices, local spending, rents, and more. You can target the movers themselves too. Helping them from where they are trying to move out of.


You can invest ahead of this to find the deals, and wholesale them for more.

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The End Of Junk Fees: How This New Trend Impacts Real Estate Investors

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on Thursday, 22 June 2023
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The president has been making a big and very vocal push to end ‘junk fees’, and to pressure companies into providing all in upfront pricing quotes. How is this being applied in the real estate and finance space? What may it mean for investors?


The Push To End Junk Fees

A recent press conference led by the president heralded some of the brands that have reportedly been shifting away from layers of fragmented fees, to single pricing models. Also called ‘all in upfront pricing’.


There are certainly some sneaky fees and charges that should be done away with, and which really seem to be predatory and victimize those that can least afford it.


Of course, the claim that this change will save American consumers $5B in spending, may be a huge stretch. It is more likely that in many cases fees are just lumped together, and prices may even go up.


The Irony

There appears to be one huge hole and ironic exception to this plan. Which is not including taxes in these so called all in upfront price quotes.


This really destroys the whole concept. It’s an American quirk that you don’t have in other countries, and which may well have inspired all of these other junk fees and fragmented pricing, due to top down leadership examples.


Until this is fixed we won’t have real upfront pricing, all in pricing, or a good customer experience.


We’ve already seen some industries being disrupted by innovative companies that did this on their own, and actually provided less expensive options, for superior customer service and deals. Like MetroPCS in the mobile phone service space. It may be this street level peer pressure which is really most effective in bringing change, and reshaping the players in all industries.


How It’s Being Applied

Some examples of how this trend is showing up may include:


Airbnb’s shift to offering all in nightly pricing options

Banks eliminating overdraft and service fees (though not on mortgages yet)

Simplified pricing on event tickets

Elimination of renter security deposits in favor of monthly fees or higher rents


Summary

Simplified pricing is just common sense. It provides a better user experience, and a more efficient experience, with higher lead conversion potential for businesses. It can also be a fantastic way to disrupt your space, and stand out from the competition. It would just be nice if this also applied to taxes.


This is changing the competitive landscape, and you should be considering your pricing strategy and revenue streams to stay ahead of it.

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