Real Estate Investing in 2024: How to Prepare & Avoid Trouble
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- Опубліковано 31 тра 2024
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🎙️ Episode 325 - Learn what's in store for the 2024 real estate market and how you can adapt as a real estate investor so that you can still build wealth and cash flow.
📄Show Notes:
www.coachcarson.com/2024market/
▶️ Next Video: Rental Property Analysis 2.0 - How to Adapt to High Interest Rates:
• Rental Property Analys...
🎬 Timestamps:
0:00 - Grind it out market in 2024
1:04 - Price & Interest Change in 2023
4:57 - How mortgage rates affected supply
7:38 - Why some markets are ↑8% but others ↓12%
9:39 - Rent Change in 2023
10:59 - THIS will dictate 2024's market
15:03 - Trouble with multi-families
17:55 - Commercial loan impact for investors
20:21 - Prepare as an investor in 2024
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On the Market Podcast:
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Wow, a shout out to WNY, Buffalo, and even Syracuse…..and you didn’t mislabel the region as “upstate.” This guy knows what he’s talking about!
That is the same argument made every year. But unless a seller is in distress, no one is going to choose to sell at a loss.
Problem is things have never been so expensive so it may happen
Inflation is high
Fixed income people having insurance go up etc
Here in the Pacific NW, home prices are not dropping (much). Total fixers, under 1000sq ft, are still over $400k. So people with median income and lower are out of the housing market - and therefore are renters.
The flip side is, it’s difficult to find deals to invest in for rentals.
That makes sense. As long as you have a lot of demand from good jobs and a limited supply (hard to build) I can't see strong markets in the Pacific NW dropping much on price. I think the more interesting trend was rent softening in some markets where apartments have been over built. Austin, TX was one good example. But even that will recover.
Great stuff guys, thank you!🎉🎉
Great stuff
Thanks Coach
Great information. Thanks so much for sharing your knowledge.
Very helpful Thank you for sharing
Glad it was helpful!
Curious to know your thoughts in Wisconsin. We have very low inventory for something which was built after 2000, which is around 1600-2000 sq feet.
What are your thoughts of someone is planning to build a house, just for rental purpose, assuming to not have LVP/LVT everywhere, and basic house with basic standard amenities.
I thought rents were already going down year over year nationally. Where ca I find this information reliably?
Enjoy your video presentation and your Entreprenurial insights are awesome, would like to contact you to see if we can both profit from this entrepreneurship. Thanks. Dan Belsky
Do you recommend buying with cash or financing?
Either can work. But if you're still growing, financing probably makes more sense. You can set aside cash in reserve.
@@CoachChadCarson or buy with cash now and then take money out of existing paid off properties for future deals when rate comes down? Is that better than financing from the start?
@@athenatong3768 not a right or wrong answer. But I prefer to pay cash first and refinance later. You can often get better deals. Waiting on bank financing with appraisals, inspections, etc can cost you a deal. It's much easier to refinance when you need it.
You'll pay more for the cash out refi than the conventional purchase loan. Besides if don't have enough to purchase with the cash out, you'll still need a loan anyways
Given how much rental rates have skyrocketed in the past few years, it's probably not a bad thing that rents slow down in growth for a bit. Regular folks need to be able to afford housing, and we can still make plenty of money from current rent rates as investors. The market will definitely stabilize over time.
yeah, it doesn't seem like a bad thing to me either. And the markets where rents are cooling off are in formerly hotter markets like Austin, TX where rents skyrocketed before.
When the government puts restrictions on how much you can raise rent each year, landlords will raise the maximum. Would be dumb not to. Ignorant people vote in the opposite of what they think they will accomplish. More government control is very rarely the answer.
Sellers need to lower their prices as they are extremely overinflated. The rate was adjusted down extremely low and that is not the norm. The younger generation thinking it’s going back down so the cycle continuing going up is delusional. The market is in need of a serious correction. Next step sellers will have to start lowering prices to sell.