2023 – Page 67

real estate is your retirement vehicle

by REI Podcast - RCN Capital
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Mohammed Diab is a Doctor of Pharmacy who was born and raised in Saudi Arabia. He moved to the United States for a better future and today, he has left his career in healthcare to flip houses and own rental properties. Listen to this episode to learn more about Mohammed, his story, and how he built his real estate business shortly after migrating to the US from Sudan! Quotables “Everybody has a purpose, you just have to find it, grow it, and then go from there.” “Here’s the thing, even if you’re hiring a qualified professional but you don’t have enough knowledge to manage them and know if they’re doing it right or wrong, you’re still going to be screwed.” “The flexibility, the financial freedom I’m getting into – it’s amazing, it has great potential.” “Time is the most precious thing you have in life and once you have control over that, you’ve got it all.” “Get a mentor to do it right and avoid mistakes. Mistakes in business can be very costly and it can take you down.” “I don’t see it as a job, I see it as a passion, so I don’t see myself calling it work. I’ll just be following my passion, doing what I love, and I see myself there.”

Finding Your Niche: Self Storage Edition

by REI Podcast - RCN Capital
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Travis Baucom is a real estate investor in Waco, TX, focused on self-storage syndications. He has been investing in real estate for years in single-family residential properties and recently made his way into commercial, specifically in self-storage properties. Listen to this episode to learn more about Travis, his transition from single-family to multifamily, and what he has learned along the way! Quotables “When you look at deals, you need to be underwriting them a lot more conservatively than you have in the past.” “Attorneys, property managers, maintenance guys – all that can be contracted out so it’s not on your payroll.” “The great thing is storage pays so well, cash flow wise. We don’t have to buy a property this year to continue our lifestyle.” “There are 3,000 facilities in America – 70% of those are owned by mom-and-pop and the ones that aren’t, 80% of those are owned by companies that are publicly traded on Wall Street.” “What you did is the same advice I give everyone. It’s really first aid, it’s triage. Stop the bleeding, protect the wound, treat for shock.” “Sometimes, you just have to understand that the good deal is just getting out of there.” Links Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Website: Travis Baucom https://www.housetoempire.com

How Hospitality Affects your Short-Term Rentals with Blake Carter

by REI Podcast - RCN Capital
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Blake Carter is the co-founder of CRIBS Consulting, specializing in creative methods that allow real estate investors to cash flow in expensive markets. He made his way into real estate investing after high school and today, he is focused on creating cash flow through short-term rentals and helping other investors do the same. Listen to this episode to learn more about Blake, what CRIBS is all about, and how his short-term rentals are doing in today’s market! Quotables “It’s really understanding that there is an actual business aspect to it aside from the real estate.” “Understanding and learning about the business of hospitality and the business of short-term rentals before you jump right into it is really, really important.” “If someone’s considering a management company, finding someone who is local but has a really good footprint on the area is important.” “You’ll find your biggest return will be if you can focus all your time, energy, and money on one business and one goal, and then you can expand from there.” “It’s important to hold them accountable and there are ways to hold them accountable, but you want to treat them well because they’re the ones that are really running your business.” Links Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Website: CRIBS Consulting https://www.cribsconsulting.com/ Email: Blake Carter blakedoesrealestate@gmail.com

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The development will bring vital housing options to one of the fastest-growing cities in Texas as renters continue to battle surging rents and limited supply The NRP Group, a vertically integrated, award-winning developer, builder and manager of multifamily housing, has officially broken ground on ‘Ascent at Mountain Creek’ – a 324-unit mixed-income multifamily community located just 15 minutes outside of downtown Dallas. Fifty percent of the units will be reserved for individuals and families earning 80% or less than the Area Median Income. Located at 4868 S. Merrifield Road, Ascent at Mountain Creek will comprise 14 three-story, wood-frame residential buildings offering a mix of one-, two- and three-bedroom apartments. As a result of the increased resident demand for larger units to accommodate growing work-from-home preferences, den floor plans for one- and two-bedroom units will also be available. In-unit features will include quartz countertops, backlit mirrors, stainless steel appliances and walk-in closets. Community amenities will include a resort-style pool, dog park, fitness center and resident lounge that can double as workspace for remote workers. “There is a crucial need for mixed-income communities like Ascent at Mountain Creek in the City of Dallas where many residents are being priced out of the rapidly growing market,” said Kyle Hines, Assistant Director for the Department of Housing and Neighborhood Revitalization. “Housing demand throughout the region has caused significant price increases in the city and we are actively developing more affordable housing options using all available tools and resources to meet our current and future residents’ needs. We are pleased to see this project move forward and look forward to working closely with The NRP Group to bring this development to fruition.” Located at the intersection of Highway 408 and 1-20, Ascent at Mountain Creek will offer residents easy access to bustling downtown Dallas and is in close proximity to ample retail and dining options. The community is also surrounded by rolling hills, lush forests, and hiking trails, a rarity in the Dallas-Fort Worth market, with Mountain Creek Lake less than 10 miles south. Residents will also be a 10-minute drive from a variety of healthcare, grocery, retail, and recreational offerings, including Methodist Charlton Medical Center, Target, Home Depot, Epic Waters Waterpark, Grand Oaks Golf Club, and more. Within Ascent at Mountain Creek’s immediate vicinity is a host of employment opportunities for working professionals. Mountain Creek Business Park, a 450-acre industrial park, is home to a wide range of reputable companies, including Nestle, Ulta Beauty, and Chewy, among others. The community is also a short distance away from Dallas Baptist University, complete with 4,480 enrolled students and 132 full-time employees. “Dallas-Fort Worth continues to experience surging population growth, making Texas one of the leading states in the country in terms of net migration. The influx of new residents migrating to the area is causing high demand for a limited supply of apartments in the DFW market. As a result, apartment rents are quickly skyrocketing to rates that are infeasible for most individuals, especially those who are in the ‘missing middle’ income bracket,” said Alena Savera, Vice President of Development at The NRP Group. “We are excited to bring this housing development to the market and work alongside the City of Dallas to provide working-class families and individuals housing, as well as the opportunity to enjoy the natural beauty of the Mountain Creek region of Dallas.” Early lease-up of the community is expected to occur in October 2023, with a completion date slated for September 2024. About The NRP Group The NRP Group is a vertically integrated developer, owner, builder, and manager of best-in-class multifamily housing. Since its founding in 1994, NRP has developed more than 50,000 apartment homes, and currently manages over 26,000 residential units. The company utilizes the entire breadth of its in- house capabilities to fulfill its mission: creating exceptional rental communities for individuals and families, regardless of income. Through its disciplined approach to vetting opportunities, NRP has established a track record of delivering impressive returns for investors. The company’s formidable size and depth of talent provides the experience and infrastructure necessary to execute developments of varying degrees of complexity and scope in both urban-infill and suburban locations, including market rate, affordable, and senior housing. The NRP Group has been named the 2021 NMHC #3 Top Multifamily Builder in the U.S. and #5 Top Multifamily Developer, and Affordable Housing Finance has named The NRP Group #2 Top Affordable Housing Developer. The NRP Group is a winner of the National Association of Home Builders (NAHB) Multifamily Pillars of the Industry award for “Builder of the Year” and a three-time recipient of the “Development Firm of the Year.” For additional information, please visit https://www.nrpgroup.com/. Contacts Audrey LatimerAntenna | Spacesnrpgroup@antennagroup.com312-489-8479

Zillow’s new AI-powered natural-language search is a first in real estate

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Now buyers and renters on Zillow can skip the filters and search the same way they’d describe their ideal home to a friend, including features like layout, location, style, condition, lifestyle and more Zillow has launched a new AI-powered feature that lets shoppers search for homes in the same way they would talk to their friends and family. Now home shoppers can enter phrases like “$700K homes in Charlotte with a backyard” or “open house near me with four bedrooms” directly into the Zillow search bar, rather than starting with a location and having to filter their way to the homes they want. They can also save their searches and have Zillow notify them when new qualifying listings come online. The “natural language search” feature is now live on the Zillow® app for iOS® users and is coming soon to Android™ devices and Zillow.com. “Beyond easy-to-filter criteria like bedrooms and bathrooms, buyers are considering many other specific features that match their unique lifestyle,” said Jenny Arden, Zillow’s chief design officer. “This new tool is a game changer for home shopping, because it helps shorten the sometimes long and stressful house-hunting process by creating an easy, more modern way to search, and it delivers relevant search results in a simple, uncluttered way.” Zillow’s natural language search feature takes users’ queries and scans millions of listing details to bring relevant results to the surface. At the same time, the feature is training machine learning models to better respond to search queries that use natural, human-like sentences. Zillow is the first major residential real estate marketplace to implement this advanced, AI-powered search engine for the home shopping experience. Many of Zillow’s most impactful features are powered by AI and machine learning, ranging from the Neural Zestimate® valuation to providing the best personalized home recommendations to generating floor plans from panoramic photos. The company continues to invest in tech innovation like AI as part of its vision to deliver the “housing super app” — a single digital ecosystem of connected solutions for all the tasks and services related to moving. “The future of real estate will be powered through AI,” Arden said. “We are proud to be the first in the industry to offer this smarter way to search, and excited to see how it learns and evolves to help each Zillow shopper find their perfect home.” SOURCE Zillow

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Incfile, a leader in online business formation and startup services, released a new report which analyzed 100 of the most populated cities in the United States and ranked them based on which were the best for an Airbnb investment. The report measures multiple factors, including the average price, occupancy rates, cost of living, median home price, best cities to visit and average monthly revenue. To view the complete list and methodology, please visit incfile.com. Best U.S. Cities for Airbnb Investment Whether you’re just working in coffee shops for a few weeks or setting up shop for several months, the following cities have a lot in common: plenty to do, low cost of living and high broadband strength. “Each month, we see more and more of our customers starting Airbnb businesses across the country,” said Dustin Ray, Chief Growth Officer & Co-CEO, Incfile. “Many do it as a side hustle to increase their income, but a growing number are taking the opportunity to become full-time Airbnb entrepreneurs. Either way, we hope this ranking helps those considering their options to make a decision and get started on their adventure as an entrepreneur.” To learn more about how to start an Airbnb, please visit incfile.com. About IncfileIncfile is a leader in online business formation and startup services. Since 2004, Incfile has simplified the process of registering and running a business for over 800,000 entrepreneurs and small business owners. In addition to streamlining formation and incorporation with end-to-end service, Incfile’s all-in-one solution delivers a full suite of essential ongoing services like compliance, banking, bookkeeping, and more. With simple pricing, no contracts or hidden fees, $0 LLC formation, and one free year of registered agent service, Incfile offers unparalleled value for the modern entrepreneur. Incfile is proud to be recognized in Inc. Magazine’s Inc. 5000 National Awards for 2022. For more information, please visit www.incfile.com.