What is your Advantage? For the past 20 years, I have worked with hundreds of entrepreneurs from all career backgrounds while being an executive at HomeVestors, The We Buy Ugly Houses people. Each one had a common desire to build a profitable business buying, rehabbing and selling single-family houses. I developed an assessment for those investors to complete as part of the application process. I also met with each investor
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What that means for real estate investors? There might have been some question about whether the coronavirus would lead the U.S. into a recession. The hoarding of toilet paper makes me think it’s certain. Not because we’ll run out of toilet paper—the U.S. and Canada produce volumes of it—but because hoarding means consumers are really worried and are changing their spending behavior. That won’t just flip back in a few
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Investors, beware and be aware—constriction is coming. We are so far into the longest economic expansion in the history of the U.S. that just about everyone—no matter how bullish on their particular market—is stuck in a waiting pattern. Currently, our economy, our country and, arguably, our housing market are all subject to an array of uncertainties, including: COVID-19 (the novel coronavirus that first appeared in Wuhan, China) and its impact
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The new asset class on Wall Street is single-family homes, with a new focus on build-to-rent communities. In 1979, I purchased my first single-family investment property. It was located in Williamsville, New York, and I paid $23,200 for it at a mortgage foreclosure. After investing slightly more than $10,000 to renovate it, I sold it for $57,000, netting a profit of $20,000. That deal changed my life. I’ve been involved
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Technology is shaping the latest phase of single-family rental—and new opportunities await both investors and renters. Single-family rental (SFR) investing has existed for as long as landlords have owned detached single-family rental homes. In modern times, a landlord is any individual(s), government body or institution that provides housing for people who either can’t afford or don’t want to own their own homes. Great Recession Triggers SFR 2.0 Although various new
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In a relationship business, you must genuinely build the relationship to get the business. By Mike Tedesco When I was 12, my brother John got me an after-school job selling newspaper subscriptions. Armed with nothing but our wits (and free umbrellas if you signed up), we hustled door to door and quickly became the newspaper’s top salesmen. In those four years, many a door was slammed in my face, but
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