REI INK

BLN SOFTWARE UNVEILS DYNAMIC REBRANDING INITIATIVE

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New Brand Marks Bold New Chapter for the Tech Company BLN Software, formerly known as Bridge Loan Network, is proud to announce a bold rebranding strategy that marks a significant milestone in the company’s journey in the real estate software space. This strategic initiative is set to drive the company into a new era of innovation and cutting-edge solutions, reinforcing its commitment to revolutionizing the way businesses leverage software for success. As the software landscape rapidly evolves, BLN Software remains dedicated to redefining the industry’s future. This rebranding initiative is designed to elevate BLN Software as a pioneering force in loan origination solutions for real estate professionals. By refining the company’s brand identity, it aims to solidify its position as the go-to partner for businesses seeking advanced loan management solutions. Key elements of BLN Software’s rebranding efforts include: “Our main focus with this rebrand was to bring the brand identity into a more modern era, while still honoring the foundational identities that had come before,” said Taylor Fournier, Graphic Designer at BLN Software. “We decided to keep the icon, while expanding the color palette and redesigning the text portion of the logo. We manipulated parts of the logotype, creating a slot in the “O” to resemble a power button, & connecting the “F” and “T” to represent a connection or bridge. We feel confident that these design decisions help to accurately convey the brand’s ethos.” “We are thrilled to embark on this transformative journey at BLN Software,” said Jacob Therrien, Business Development Specialist at BLN Software. “Our rebranding strategy reflects our unwavering commitment to driving digital innovation and empowering businesses to thrive in the digital age.” BLN Software invites its clients, partners, and the broader business community to join them in celebrating this exciting new chapter as they continue to lead the way in delivering top-tier software solutions for the real estate industry. About BLN SoftwareBLN Software is the leading software provider for the private lending industry. BLN’s platform centralizes and organizes deal scenarios from direct investors, mortgage brokers, and private lenders in a cloud-based solution. Founded by industry experts with decades of experience in real estate investing and lending software, BLN Software streamlines the lending process for mortgage brokers and private lenders. BLN’s platform offers a Loan Origination System and Loan Management System, allowing users to order credit reports, background checks, property valuations, and upload required documents. Additionally, BLN’s platform allows users to easily store, and access client contact information. With BLN Software, users can increase efficiency and grow their business. Choose the industry-leading software solution for your lending needs. Visit www.blnsoftware.com to learn more about BLN Software and the solutions they offer.

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The Power Relationship – Equity in Business

Amy Kame is the Managing Director of the National Private Lenders Association and the Chief Strategy and Growth Officer of National Private Lenders Conference, Private Lender Law, and Private Lender Title. She is with us on the show to talk about her journey in private lending and leading multiple successful organizations. Listen now to learn more about what goes on behind the scenes at the NPLA and how you can grow into an effective leader for your organization! Visit https://nplaonline.com/ for more information. Quotables “In any of our organizations, we have to make sure that our values long-term are going to be aligned, and so we don’t get into these relationships lightly. We make sure that we’re doing right by our members.” “I knew I could be successful because I could sit back and I could take in information, really read and understand what our members needs are, and then be able to take that information and execute for them.” “A good leader to me enjoys everyone else’s success more than their own.” Links Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/ Website: National Private Lenders Association https://nplaonline.com/

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Establishing Family Legacy & Leadership in Real Estate

Norberto Rodriguez, the Founding President of NAHREP (National Association of Hispanic Real Estate Professionals), is a dedicated entrepreneur, real estate agent, and investor with decades of real estate experience under his belt. He is a true expert in real estate and he is with us on the show today to share his experience in continuing a legacy his father started and scaling it to pass onto his children. Listen to this episode to learn what makes a successful real estate professional and how you can become an effective leader in your organization today! Quotables “The pressure is always there. It’s just as you get older and you get more experience, it’s learning how to manage that pressure.” “Don’t be afraid to take that leap of faith. If you do enough due diligence on any property, you’ll gain that confidence.” “Being the leader is not only having the vision, but actually also applying effective listening.” Links Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/

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Getting Real Estate Deals with Auction Houses

Danae Hill is the EVP of Auction Operations at Williams & Williams with decades of experience as a real estate agent before shifting her focus towards real estate investing. She is on the show with us today to talk about real estate opportunities in auctions and more. Listen now to learn more about how communication can help you achieve success in real estate, how to find great deals in auctions, and why you should start getting involved in them! Quotables “The real estate business is driven by relationships, so as you develop those relationships, that’s where a lot of business comes from.” “Communication is the core of my character, so my rule is I’m always answering emails, if my phone rings, I answer it. I’m constantly making myself available to have those conversations.” “If I’m negotiating a deal with a buyer, I’m going to be clear and concise in my message, and I’m going to be comfortable with silence so I don’t have to fill every pause in communication with words.” Links Website: Williams & Williams https://www.williamsauction.com Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/

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How to Create and Manage a PROFITABLE Business

David Richter is a real estate investor, author, and the founder and owner of Simple CFO Solutions. He took the Profit First system developed by Mike Michalowicz and turned it into Profit First for Real Estate Investing, designed specifically to empower real estate professionals to make more profit and achieve financial freedom by gaining financial clarity and having control over their business finances. Listen now to learn more about the importance of managing your business’ finances and how the Profit First system can help you generate more profit as a business owner! Quotables “I would say networking is paramount. I don’t know if that’s a cliche statement now, but it is very true – your network is your net worth.” “If you’re a real estate investor, you have to have that element of faith of diving into it and getting it up and running.” “I want you to know that the key to any good thing here is the ability to ask great questions and to make your point as simple as possible.” Links Free Book: Profit First for Real Estate Investing https://www.simplecfo.com/rcn Book: Crucial Conversations https://www.amazon.com/Crucial-Conver… Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/

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Redfin Reports Only 39% of Renters Make Enough Money to Afford the Median-Priced Apartment

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The income renters need to afford the typical apartment is the highest since 2022 amid a rebound in asking rents, which are now just $47 shy of their record high The typical U.S. renter household earns an estimated $54,712 per year, 17.3% less ($11,408 in dollar terms) than the $66,120 needed to afford monthly rent for the median-priced U.S. apartment ($1,653). That’s according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. Only 39% of renters make enough to afford the median-priced apartment. The amount renters must earn to afford the median-priced apartment is at the highest level since October 2022. It’s up 0.8% year over year and up 22.9% from before the pandemic (May 2019), as that’s how much asking rents have risen. At $1,653, the median U.S. apartment asking rent in May was just $47 shy of its record high. Still, it’s worth noting that rent growth is essentially flat. This is based on a Redfin analysis of median U.S. apartment asking rents as of the three months ending May 31, 2024, and estimated median incomes for renter households. We consider an apartment affordable if a renter spends no more than 30% of their income on rent. “Rents are growing at a snail’s pace compared to the rapid increases we saw during the pandemic, and are unlikely to soar again anytime soon. As a result, wage growth should continue to outpace rent growth in the coming months, as it has been doing since 2022,” said Redfin Senior Economist Sheharyar Bokhari. “That will help narrow the affordability gap for renters, but for a lot of folks, the math still won’t check out. Many U.S. renters are and will remain burdened by the cost of having a roof over their head, and unlike homeowners, they’re not building wealth through rising property values.” The income a renter needs to afford the typical apartment did drop last year, but is now rising again as rents rebound. It fell to as low as $63,920 in December 2023, when rents briefly dipped below $1,600, but that was still unaffordable for many renters. Multifamily construction surged during the pandemic, which is what caused rents to fall, but rents are now being buoyed by resilient demand; many young renters are opting to stay put rather than confront an increasingly unaffordable homebuying market. Still, there’s still a backlog of new units that are hitting the market every month, which is putting a lid on how much prices can grow. In New York and Miami, the Typical Renter Earns Roughly 40% Less Than They Need to Afford the Typical Apartment In New York, the typical renter earns an estimated $67,358 per year. That’s 43.5% less than the $119,120 a renter needs to afford the median-priced apartment—the biggest gap among the 33 major metros Redfin analyzed. Next comes Miami (42.2% less), followed by Boston (38.7% less), Los Angeles (36.1% less) and Riverside, CA (30.8% less). U.S. metro area Income required to afford median-priced apartment Estimated median renter household income Median asking rent New York, NY $119,120 $67,358 $2,978 Miami, FL $99,440 $57,471 $2,486 Boston, MA $113,400 $69,493 $2,835 Los Angeles, CA $112,440 $71,853 $2,811 Riverside, CA $92,480 $64,016 $2,312 New York is perennially one of the most expensive rental markets, but affordability challenges have been intensifying; rents rose 9.2% from a year earlier in May—one of the biggest increases in the nation. In Miami, rents fell 4.2% year over year, but affordability remains strained because costs soared so much during the pandemic moving frenzy. The Typical Renter Earns Enough to Afford the Median-Priced Apartment in Just Five Metros Redfin Analyzed In Austin, TX, the typical renter earns an estimated $72,808 per year. That’s 16.8% more than the $62,360 a renter needs to afford the median-priced apartment (a big jump from 2023, when the typical renter earned just 2.7% more). There are four other major metros Redfin analyzed where renters earn enough to afford the typical apartment: Houston (10.2% more), Phoenix (9.2% more), Washington, D.C. (3.2% more) and Dallas (0.9% more). U.S. metro area Income required to afford median-priced apartment Estimated median renter household income Median asking rent Austin, TX $62,360 $72,808 $1,559 Houston, TX $51,000 $56,177 $1,275 Phoenix, AZ $61,640 $67,302 $1,541 Washington, D.C. $82,680 $85,336 $2,067 Dallas, TX $61,160 $61,740 $1,529 Austin has seen one of the steepest dropoffs in rents in the U.S., helping to make apartments more affordable. The median apartment asking rent in the Texas capital fell 7.2% year over year in May—the third biggest decline among the metros Redfin analyzed. Rents also fell in Phoenix and Dallas, down 5.5% and 1.3%, respectively. Rents are falling in the Sun Belt in part because the region has been building more apartments than other parts of the country (like the Midwest and Northeast) to meet demand brought on by the influx of people who moved in during the pandemic. But the pandemic housing boom is now in the rearview mirror, and property owners are facing vacancies, which is causing rents to cool. Washington, D.C., which has a lot of high-income transient workers, is the most notable outlier in the table above. While the typical renter earns slightly more than they need to afford the median-priced apartment, the gap is shrinking as rents rise; the typical D.C. renter earns $2,656 more than they need to afford the median-priced apartment, compared with $6,487 more in 2023. Asking rents in Washington, D.C. rose 11.1% from a year earlier in May—the biggest jump among the metros Redfin analyzed. To view the full report, including charts, methodology and more metro-level data please visit:https://www.redfin.com/news/renter-incomes-affordability-2024

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