2023 – Page 50

The Future is Now: Getting Ahead with Technology in Real Estate

by REI Podcast - RCN Capital
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Jeremy Brandt is a seasoned real estate investor who continuously works on finding ways to innovate and grow his business. Today, Jeremy and his team are taking advantage of different AI tools to improve his business, from streamlining processes to predicting market trends. Listen now to learn how AI technology can help you grow your business and how Jeremy uses it to grow his! Quotables “We’re using AI a lot in our business relative to real estate. I think this is something that if you’re not on the front edge of, you’re gonna miss out.” “Consistently doing the same thing over and over and over again is what brings real wealth and real success in life.” “People are just being more cautious but we’re not seeing people shutting their business down.” Links Website: We Buy Houses https://webuyhouses.com/ LinkedIn: Jeremy Brandt https://www.linkedin.com/in/jeremybra… Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/

THE EVOLUTION OF THE HOUSING MARKET

by REI Podcast - RCN Capital
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Scott Horne is an attorney with over 30 years of experience in Texas. As the owner of Horne and Associates, PC, and Owner Finance Networking, Scott shares his unique perspective on the constantly changing landscape of real estate investing and gives his advice about navigating market changes and making wise investing decisions. Listen to this episode to learn more about Scott and his approach to making financial decisions and how he is using math to guide his choices! Quotables “You have to expect and anticipate things to happen and be prepared to handle it.” “You can generate cash flow, but you also generate wealth by holding assets that are debt free that somebody else can’t take away from you.” “If you are not forward-thinking enough to put something back and to start that, that growth curve, you will never have it because you’re going to blow everything.” Links Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Website: Horne & Associates P.C. https://www.hornerealestatelaw.com/ Website: The Owner Finance Network https://www.theownerfinancenetwork.com/ Website: Goat Funding Group https://www.goatfundinggroup.com/ Book: The Millionaire Next Door https://www.amazon.com/Millionaire-Ne…

How to Build Success: Insider Tips from a General Contractor

by REI Podcast - RCN Capital
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Ray Negrete is a successful real estate investor, a general contractor, and the founder of Rehab Squad. In this episode, Ray talks about his experiences in real estate investing and general contracting. He also shares valuable advice on contracting and customer relationships. Listen now and find out why Ray’s customers keep coming back to work with him and how he navigates the challenges of general contractors today. Quotables “Find someone you trust. Treat them well and stop trading time for money. Delegate, delegate, delegate.” “People still don’t understand they were paying $25 a square foot for granite three or four years ago. Why is it 35 now? And if I have to explain that to somebody, we’re not a good fit.” “I think believing in yourself and being a good leader and setting examples is definitely a good way to run a business like this.” Links Website: Rehab Squad https://www.therehabsquad.com/about Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/

From Boss to Leader: Empowering Your Employees for Success

by REI Podcast - RCN Capital
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Erik Latsha is the CEO of Honest Home Solutions, a real estate investment company operating in South Central Pennsylvania and northern Maryland. In this episode, we talk about the importance of honesty, trust, and accountability in building a successful real estate business along with the biggest lessons Erik learned along the way. Listen now to learn more about Erik, how he operates Honest Home Solutions, and how your integrity can create a great impact in the industry! Quotables “One of the big things we focused on was people over profit when we really started our business, it was a huge part of advertising and marketing.” “When I’m making business decisions it’s really important for me to be an example to my staff.” “I don’t believe you’ll ever have good people until you empower them to be better than you.” Links Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Instagram: Erik Latsha https://honesthomesolutions.com/ Facebook: Erik Latsha https://www.facebook.com/ErikJLatsha/ Website: Honest Home Solutions https://honesthomesolutions.com/

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Single-family rental veteran will architect solutions to address needs and challenges of today’s commercial and residential clients Lessen, the premier tech-enabled, end-to-end solution for outsourced real estate property services, continues to enhance its leadership team by appointing Justin Iannacone as chief process & innovation officer. “This is an exciting time at Lessen and having the right executive team in place is essential as we continue to build on our momentum,” said Jay McKee, CEO of Lessen. “Justin has a long track record of operationalizing innovative ideas that solve complex logistical problems, and his experience and expertise will be of enormous value as we continue to transform the business, innovate and enhance Lessen’s value proposition of simplifying property services and distributed facilities management in the commercial and residential real estate sectors.” Iannacone will partner with our customers and senior leadership team to optimize our business from a strategic, financial and operational standpoint that addresses the needs and challenges of today’s commercial and residential clients. He will focus on improving how Lessen goes to market, scales in the marketplace, services clients and manages strategic partnerships with our vendors and suppliers to enhance our property services. As a former executive and co-founder of Colony American Homes, Iannacone oversaw all aspects of maintenance and construction across the U.S. for one of the largest single-family residential REITs in the country. Iannacone was responsible for building and scaling the construction platform, which included oversight of thousands of renovations, turns and maintenance work orders annually. While at Colony American Homes, he identified and led the integration and rollout of a strategic partnership with SMS Assist (acquired by Lessen in January), becoming the first institutional single-family rental owner to leverage the tech-enabled maintenance solution in the industry. In addition, Iannacone led several other industry-leading initiatives, including development of a proprietary scoping and estimation tool, and one of the first mass deployments of smart home technology across over 30,000 homes. “As a co-founder of Colony American Homes over a decade ago, I have a long history in the single-family rental industry and a deep passion for building and growing real estate platforms,” said Iannacone. “I’m thrilled to rejoin forces with Jay to help Lessen continue its journey of being the premier industry leader of tech-enabled property service solutions. I believe in the power of intuitive technology to drive process efficiencies and cost savings while enhancing the customer experience along the way.” Iannacone added, “Having worked alongside Jay and many of the Lessen and SMS Assist executives over the last 10 years, I’m honored to have the opportunity to take on such an exciting role focused on continuous improvement and driving operational excellence.” About Lessen Lessen, together with SMS Assist, is the world class, tech-enabled, end-to-end property service provider transforming how commercial and residential real estate services are delivered and managed at scale. Our technology platform provides data-driven insights that unlock key growth opportunities for the entire real estate ecosystem—including investors, owners, managers, and service providers. Lessen enables local field managers to deploy and oversee a network of vetted, qualified vendors acting as one unit across distributed property portfolios—serving a national footprint of more than 1 million properties and completing more than 2.5 million work orders annually across an expanding range of services. Lessen, Inc. is a venture-backed, privately held company with offices in Scottsdale and Chicago. To learn more, visit Lessen.com.

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15% more borrowers purchased mortgage points in 2022 than 2021, and continue to do so as interest rates hover around 6% Interest rates remain high and home buyers are looking for ways to save money, including buying mortgage points. A recent analysis of data from the Home Mortgage Disclosure Act (HMDA) by Zillow Home Loans finds nearly 45% of conventional primary home borrowers opted to purchase mortgage points in 2022 as a way to reduce their monthly payment. The historically low interest rates of 2019–2021 saw far fewer buyers opting for points — 29.6% in 2021, 28.4% in 2020 and 27.3% in 2019. And borrowers who opted for a cash-out refinance loan (on a conventional loan for a primary home) bought even more points in 2022 — 57.8% of these borrowers purchased points (compared with 48.4% in 2021, 44.2% in 2020 and 41.3 in 2019). Mortgage points, also known as discount points, are an option for buyers to pay an upfront fee to buy down the interest rate on a loan. The term “points” is a common way of referring to a percentage of your loan amount. When buyers choose to purchase mortgage discount points, they are essentially pre-paying interest up front in exchange for a lower rate and monthly payment. While buying points is more common now, it’s most often used by borrowers who make less than their area’s median income (between 30% and 50% of their area’s median income) and are most concerned about monthly payments. Those who make less than 30% of an area’s median income purchased the most points overall for homes in the bottom price tier. Regardless of income level, borrowers were more likely to purchase points for homes in the top and middle price tiers, than for homes in the bottom price tier. This could be because the impact of lowering interest rates is greater on more expensive mortgages. Reducing interest rates doesn’t come for free, and buyers need to determine if paying up front to reduce the fee in favor of lower monthly payments is worth it. Generally, mortgage applicants need to pay 1% of the loan amount to cut the interest rate by 0.25%. A break-even calculator can help buyers determine if paying more now to buy points could save them money in the long run. “Buying points can be a great option to improve monthly affordability — there are many different mortgage products, including buying points and the 2/1 buydown buyers can explore,” said Erika Kerry, loan officer at Zillow Home Loans. “These options are good examples of why it is so important to work with a knowledgeable loan officer. The loan officer should be a partner in the buying process, helping explain options so buyers can make an educated decision.” Affordability remains a top concern for home shoppers. A recent Zillow analysis found that nationally, home values are about 25% above where they would need to be for affordability to return to historical norms. These challenges should not be confused with a lack of desire to purchase a home. For those who can afford to buy now, they should find less competition than the buying frenzy of years past. This means buyers are more likely to get into the right house, as opposed to the only house they can find, which is important considering the majority of homeowners are in their home for about 15 years. SOURCE Zillow Home Loans