September 2024 – REI INK

The Power of Analytics in Real Estate Investing

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In this episode of Uncontested Investing, I sit down with Sean Morgan, CEO of Forecasa, a leading analytics platform in the private lending industry. Sean shares his unique journey from being a CPA in a big four accounting firm to transitioning into entrepreneurship within the oil and gas sector and eventually co-founding Forecasa. We dive into his experiences with data and analytics, the founding of multiple successful businesses, and his decision to pivot into real estate. Sean also provides valuable insights into the role of analytics in navigating market shifts, the importance of maintaining company culture, and strategies for sustainable growth. We also touch on current market trends and what the private lending space might look like in 2025. Sean’s expertise and transparency provide listeners with actionable advice, especially around data utilization, effective communication as a leader, and fostering team culture in a remote work environment. Whether you’re an aspiring entrepreneur, a seasoned investor, or just interested in the evolving landscape of real estate, this episode offers a wealth of knowledge. Quotables “Communication is key. If you’re a CEO, you should know what’s happening regardless of where your employees are physically located.” “A good leader knows their limitations and surrounds themselves with the right people to keep them in line.” “In investing, always know your market. Getting into deals outside familiar areas adds risks you might not foresee.” “Analytics become crucial when things don’t go as planned—it’s important to understand the metrics driving your business.” “To grow a successful startup, you must have transparency, set expectations, and consistently measure performance.” Links & Resources Visit Forecasa to learn more about their services: https://www.forecasa.com/

Scaling A Real Estate Business As A Married Couple

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Andrew and Michelle Lucas are the Founders of Lucas Properties, one of South Carolina’s top real estate firms with a stellar real estate agent team. This power couple has completed hundreds of deals over the years and now they’re focused on providing support to other real estate investors by providing guidance and coaching through the Deal Finders Club. Listen to this episode to learn more about how working together has helped Andrew and Michelle grow their business and how they’re impacting hundreds of lives through Deal Finders Club! Quotables “In real estate, you only lose when you sell. If you hang on long enough, eventually it will come back around and then we’re all winners.” “If someone gives you a reason not to trust them early, you have to cut them loose and go find the next person.” “It wasn’t about being the teacher, it was about being in the community and getting to know what’s happening, getting word of mouth, what’s moving over here, and what’s moving over there.” Links Website: Deal Finders Club https://www.dealfindersclub.com Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Email: RCN Capital info@rcncapital.com

Secrets to Building Generational Wealth in Real Estate

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Bill Fairman is a national speaker, best-selling author, and serial entrepreneur with over 30 years of experience in the mortgage banking industry. Over the years, Bill has made his mark in real estate as a fund manager by helping high net worth individuals grow their wealth and today, he is focused on providing education for individuals who want to create their legacy and build generational wealth. Listen to this episode to learn more about building generational wealth through real estate and what you can do today to get on the right path in building your legacy! Quotables “Most people don’t make wealth quickly, you make it over time, and that’s the easiest and most consistent way to do it.” “If you don’t do a bad deal while you’re in this business, you’re not doing enough deals because it happens.” “Life is not worth living if you are constantly in pain or a burden on somebody else, and it’s never too late.” Links Website: Bill Fairman https://billfairman.com/ Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Email: RCN Capital info@rcncapital.com

Maximizing AI & Your Digital Marketing

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Bob McIntosh is a national speaker, best-selling author, and entrepreneur with thousands of hours spent on stages, helping over 15,000 people nationwide. He is one of the most influential people in real estate and entrepreneurship and today, Bob is with us to share valuable insights on real estate and digital marketing – two fields he has achieved massive success in. Listen to this episode to learn more about public speaking and digital marketing, and how you can maximize both of them to help you succeed in business! Quotables “AI and technology have made it both ironically harder and easier. It just changed what things are now hard and what things are now easier.” “If you’re an investor or any business owner using AI, don’t use it as an excuse to be lazy because when you do that, it shows.” “Focus on a routine that’s going to help you feel the best by yourself because you will be far more productive in the hours that you do work when you do.” Links Website: 3 Degrees Consulting https://go3dc.com/bobmcintosh/ Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Email: RCN Capital info@rcncapital.com

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Mortgage-rate locks rose 68% from a month earlier in the days after the Fed announced its interest-rate cut. Many house hunters had been waiting for the Fed’s cut before locking in a mortgage rate. Homebuyers locked in nearly 70% more mortgages than they did a month earlier on September 23, according to a new report from Redfin, the technology-powered real estate brokerage. The report analyzes mortgage rate-lock data from Optimal Blue. The surge in mortgage-rate locks comes five days after the Fed cut interest rates for the first time in four years. It’s worth noting that the surge in mortgage-rate locks may overstate the increase in mortgage demand, as it could be exacerbated by buyers who had already decided to purchase a home but were waiting to lock in a rate until after the Fed meeting. Still, there are other indicators that demand is improving. Mortgage-purchase applications are up more than 10% month over month. Additionally, Redfin’s Homebuyer Demand Index–a measure of tours and other buying services from Redfin agents–shot up to its highest level since May during the week ending September 22. It’s also notable that the Demand Index rose 1% annually, the first increase in nearly a year. Pending U.S. home sales fell 3.1% during the four weeks ending September 22, but that’s the smallest decline in five weeks, and the increases in mortgage-rate locks and mortgage applications will likely lead to an uptick in sales over the next few weeks. News of the Fed’s historic interest-rate cut is the main factor bringing home buyers off the sidelines. Mortgage rates and housing costs had been declining meaningfully for several weeks before the rate cut, but before this week it hadn’t led to an uptick in demand. Many house hunters had been waiting for the rate cut to actually happen to get serious about buying, and now they have, even though mortgage rates didn’t fall further after the rate cut than they had in the week leading up to it. Improving affordability is also, of course, a major factor bringing buyers back. The median monthly housing payment is down 4.4% year over year, the biggest decline in more than four years. It has dropped to its lowest level since January (with the exception of the prior 4-week period), thanks to mortgage rates dropping to their lowest level since February 2023 last week. (Home prices are still increasing nationwide, rising 3.9% year over year.) In some metro areas, such as San Jose, CA and Los Angeles, housing payments have fallen more significantly. “One new client decided to start their home search last Thursday because of the Fed’s rate cuts on Wednesday,” said Andrew Vallejo, a Redfin Premier agent in Austin, TX. “They immediately reached out to a real estate agent and they’re working with a lender. Rate cuts have sparked more showings; we’re seeing all of our listings in the area get more traffic. It’s a nice glimmer of hope after a slow year in Austin.” Declining mortgage rates and the Fed’s rate cut are also leading to fresh supply. New listings of homes for sale are up 7.6% year over year, the biggest increase since June, with sellers realizing it’s unlikely mortgage rates will drop back down to the 3% or 4% range anytime soon. It’s worth noting another reason for annual uptick in new listings is that they were quite low at this time last year. For Redfin economists’ takes on the housing market, please visit Redfin’s “From Our Economists” page. To view the full report, including charts, please visit:

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New platform exits beta, empowering mortgage professionals with a unified, AI-enhanced solution that optimizes processes, increases productivity and fosters seamless collaboration Simplist Technologies, the innovator behind the award-winning mortgage marketplace Simplist, is excited to announce the official launch of Sonar, the world’s first mortgage experience platform. This follows a successful beta phase with over 200 mortgage companies. Sonar seamlessly integrates loan origination system (LOS) and point-of-sale (POS) systems, providing mortgage professionals with a comprehensive, all-in-one solution to revolutionize the mortgage journey from start to finish. “With Sonar, we’ve combined the POS and LOS into a single, streamlined platform, enhancing the entire mortgage journey for mortgage originators and borrowers alike,” said Chris de la Motte, co-founder and co-CEO of Sonar. “By helping thousands of people secure mortgages through Simplist, we gained deep insights into the often disjointed and complex nature of mortgage systems. We experienced firsthand the frustrations of using a fragmented tech stack, and Sonar was built to solve these problems by creating a seamless, modern solution for the entire industry — including borrowers and mortgage professionals alike.” The mortgage industry has long grappled with outdated and disconnected systems, often requiring mortgage professionals to juggle multiple tools to manage a single loan. This disjointed process can result in high costs, inefficiencies and frustration for originators and consumers alike. Sonar addresses these challenges head-on by offering a unified platform that simplifies the origination process, enhances productivity and reduces costs. Key features include: Anthony Sherman, co-founder and co-CEO at Sonar, added: “With over 20 years of experience in the mortgage industry, I have never been as excited about a development as I am about AI. AI is set to revolutionize mortgage origination by automating the nuanced processes, reducing costs for originators, minimizing errors and ultimately providing a better experience for consumers. At Sonar, we are proud to be at the forefront of this transformation, streamlining workflows and relationships with AI-powered tools and bringing mortgage loan origination into the modern age.” Simplist Technologies’ deep understanding of the industry, honed through the success of its consumer mortgage platform Simplist — which has facilitated several billion dollars in originations and emerged as one of the fastest-growing mortgage companies in the United States — uniquely positions the company to address the complex challenges of mortgage origination. For more information, or to schedule a demo, please visit yoursonar.com.