PRIVATE MONEY LENDERS - REAL ESTATE SOLUTIONS

 

PRIVATE MONEY LENDERS - REAL ESTATE SOLUTIONS

The coronavirus pandemic has thrown a monkey-wrench into all facets of life, including paying rent or the mortgage for some which includes real estate investors.

The real estate investment outlook prior to the coronavirus pandemic was looking pretty good with low interest rates, and new home construction still doing well. Fix-and-Flips were on the rise and rentals, though increasing, still were becoming occupied.

However, since the coronavirus pandemic, real estate businesses have either accelerated the growth of their real estate businesses or have watched their real estate businesses decline.

The coronavirus pandemic has impacted all businesses, with smaller companies being hit harder, especially companies with fewer than a couple dozen employees. Why?

Because a small business with fewer than a few dozen employees typically lacks cash flow and capital. Those companies were the first to reduce hours for employees or lay off employees. Those businesses were also the first to stop hiring subcontractors.

With the U.S. officially in a recession, millions of people are suffering.

And acting with compassion over the next 6-12 months is key, whether it is towards homeowners or landlords in trouble or renters having issues making payments.

However, for individuals who are properly positioned as real estate investors, the next few years will spell out O.P.P.O.R.T.U.N.I.T.Y

Even if the extra unemployment benefits and eviction moratoriums currently sun-setting get extended, they will expire eventually.

Between landlords having trouble collecting rents and homeowners in forbearance accumulating a pile of debt, there will be more distressed sales coming online.

Rentals will become cheaper…

And fix and flips will have less “newbies” competing for them.But…because of our housing shortage and continuing low interest rates, people will still buy your fix and flips (if you’re still in business).

The question is, are you going to be positioned to take advantage of these opportunities? Unfortunately, when the housing market softens or does anything resembling a crash, traditional financing dries up.

Hard money lenders go out of business left and right because they have lent to the wrong investors and banks get scared. So they pull out of lending on anything that’s not deemed “very safe”… They cancel credit lines, stop lending on construction or rehabs…And generally just crawl into a corner in a fetal position…(try to picture a “bank” in a fetal position…pretty funny).

That’s the hilarious thing about “Times of Opportunity”:

Most people get scared exactly when they should be entering the market in full force! So how do you ensure that you can still close on deals when all the dummies run for the hills?

Answer: Private Money Lenders

If you have solid private lending relationships, you will be able to pull the trigger on any deal you want. No matter what the market is doing or how many hard money lenders are filing bankruptcy.

1. Private money is personal.
2. Private money is flexible.
3. Private money is crash resistant.

If you BRRRR deals (Buy, Rehab, Rent, Refinance, Repeat), private money is crucial for short-term funding.

If you do fix/flips, private money is a FAR cheaper alternative to hard money and less risky. And if YOU are a good, honorable steward of that money, it will keep flowing to you.


CashBuyersLists.com                      Please like, comment and share. Thank you.

Turning Opportunity Into Profit

Turning Opportunity Into Profit

RECBL - Real Estate News

Running a profitable real estate business in today’s fast-paced, tech-driven environment is a challenging proposition. But for the industry’s elite teams (those doing 40+ transactions a year), CINC (Commissions Inc.) is a key piece of the puzzle, providing the tools needed to attract and engage clients-and turn opportunity into profit.

Created to alleviate the frustration associated with having to deal with multiple technologies in order to achieve real estate success, the platform was born in 2011 as a lead generation and CRM solution.

The team spent the next two years creating an integrated platform from which team leaders could run their total business. More depth was added to the solution, coinciding with the launch of CRM+-an update to the platforms pre-existing CRM-in 2015. In September 2016, CINC was bought by Fidelity National Financial, a huge milestone that set the stage for greater success across the board.

"There are a lot of people in the industry who do what we do," says CINC Co-CEO Jason Hoback. "This acquisition was a huge milestone as it provided confirmation that what we’ve done, not only have we done it well, but we’ve done it better than anybody else."

For Co-CEO Alvaro Erize, Fidelitys acquisition marked a true turning point in the platforms trajectory path forward.

"Everything we do is to strengthen the agent’s position in the market. Fidelity shares our client-first mentality and passion for the agent, giving us the firepower and support we need to grow beyond what we had imagined," says Erize of the company’s focus on being the best platform on which to run a business, as well as offering the best lead gen and conversion engine in the market.

"Even if you put the best fuel in a bad car, it won’t get anywhere," says Erize, underscoring the importance a good platform will have on an agent’s efficiency day-in and day-out. "The goal is then for team leaders to take agents selling 10 houses a year and mentor them to be able to sell 25."

While many clients see a boost of more than 20-30 percent when it comes to lead conversion, its important to note that CINCs investment on the lead gen side of things is paying huge dividends as well, with their clients cost-per-lead down 24 percent year-over-year.

"We have the ability to hone in on keywords that will drive the best type of lead to a specific client at the most effective price," says Hoback. A process that’s been boiled down to an art, automated algorithms ensures leads are tailored to a client’s area of expertise, falling in their conversion sweet spot.

More than just a software company, CINCs culture provides a unique value proposition all on its own.

"When it comes to culture, you either have it, or you don’t. Since were a no-contract business, we’ve adopted a Whatever It Takes (WIT) mentality because we have to earn our clients business every single day," says Hoback.

To that end, it’s all about mindset. While the phrase "no problem" is taboo at CINC, Hoback notes that even though the difference between "no problem" and "my pleasure" is subtle, it’s the small things that add up to big things when interacting with clients.

Taking this one step further, Erize believes the company’s strongest asset is the unrivaled community clients become part of when they join the CINC family. "We’ve built what I think is the most impressive community of elite real estate professionals who come together through us, refer business to one another and support each other through times of need," he explains. "The value of our community is as valuable as CINC, and it will only become stronger as we bring this dream to fruition."

Looking ahead, there’s no end in sight as the company continues to pave the way toward its goal of becoming the undisputed, indispensable piece of technology on which elite real estate professionals run their business.

"What’s really interesting from a technology perspective is the fact that we haven’t even scratched the surface with the value we bring our clients and the innovative things we can do to make their lives easier," says Hoback.

"We’ve achieved a lot already, but we still have a significant way to go," concludes Erize.

For more information, please visit www.commissionsinc.com.

CashBuyersLists.com                        Please like, comment and share.  Thank you.

Diverse Roads Lead to Opportunity in Real Estate

Diverse Roads Lead to Opportunity in Real Estate

RECBL - Real Estate News

Every REALTOR(R) has a back-story on their path to real estate-and according to new research out of the National Association of REALTORS(R) (NAR), most REALTORS(R) were self-motivated to pursue it as a profession. Seventy percent of REALTORS(R) self-started their career because of an interest in the industry, the "Choosing a Career in Real Estate: A Perspective on Gender, Race and Ethnicity" report reveals. Sixty-four percent, in fact, say their interest in real estate is the most attractive part of the business to them.

Comprised of findings from a survey of 6,363 members of NAR, the report shows 69 percent of male REALTORS(R) and 65 percent of female REALTORS(R) embarked on a career in real estate that was self-motivated. African American and Black REALTORS(R), markedly, represent the largest share of self-motivated starts, at 75 percent.

Some REALTORS(R) entered the industry because of a friend who referred them, the report shows. Broken down by gender, a friend encouraged 20 percent of female REALTORS(R) and 18 percent of male REALTORS(R) to join the profession. Twenty-seven percent of Asian and Pacific Islander REALTORS(R) were referred by a friend-also the majority share.

Confirmed in the research? REALTORS(R) come from all walks of life. Eighty-two percent got their start in the working world outside of real estate; for 51 percent of female REALTORS(R), real estate is their second career, and for 36 percent of male REALTORS(R), their third. Female REALTORS(R) are more likely to come from a career in education, management or office support, while male REALTORS(R) are more likely to come from a career in management or sales. Sixty-one percent of African American and Black REALTORS(R)-again, the majority share-are in their second career.

Looking at activity and production, Caucasian and White REALTORS(R) (who make up 82 percent of NAR members) have the highest sales volume and transactions of all groups, the report shows. Asian and Pacific Islander REALTORS(R), however, sell the most expensive homes-translating to the highest median gross income ($56,800) of all segments. Caucasian and White REALTORS(R) have a median gross income of $54,200.

Hispanic and Latino REALTORS(R), by comparison, have a median gross income of $41,700 and the second-highest median transactions, and sell the third-most expensive homes. They are also the largest group with less than one year of experience in the field, and the largest segment specializing in the residential sector (71 percent).

In contrast, African American and Black REALTORS(R) sell the least expensive homes and have the lowest median gross income ($23,000). They are also the majority group earning less than half their income from real estate, and working less than 20 hours each week, suggesting part-time status as a REALTOR(R).

Turning to gender, male REALTORS(R) have a median gross income of $54,600, while female REALTORS(R) have a median gross income of $46,700. Male REALTORS(R), however, have a median seven transactions; females, a median eight.

Diversity in the field is reflected in its practitioners, but many REALTORS(R) share similar views, the report shows. Eighty-six percent of REALTORS(R) agree "people skills" are crucial to residential real estate success. Other important talents: self-motivation (84 percent) and negotiation skills (73 percent). When asked what are the most attractive aspects of the profession, "flexible hours," "working with people," the "entrepreneurial" quality of real estate, and "salary possibilities," were common responses.

"A career in real estate offers a work environment and diversity of opportunity that attracts all types of individuals, and the report’s findings are a reflection of that," says NAR President Bill Brown. "That being said, NAR remains committed to ensuring that its membership continues to reflect Americas growing diversity."

NARs diversity initiatives include several programs and resources: the At Home With Diversity (AHWD) certification; the Equal Opportunity and Cultural Diversity Program, which includes education, events, grants and partnerships; and the NAR Diversity Initiative Grant Program.

For more information, please visit www.nar.realtor.

CashBuyersLists.com                                                           Please like, comment and share.  Thank you.