Realtors are essentially intermediaries between buyers and sellers, so realtors get paid on commission when you close on a property. But who is responsible for that fee, and how much commission do realtors normally take? This article explains how realtor commission works and when they receive their payment. What Is The Difference Between a Realtor and a Real Estate Agent? It’s very common to use the terms “realtor” and “real estate agent” interchangeably, but there is a difference between the tw...
Sep 24, 2023•10 min•Ep. 1075
Suppose you come across a house or land that interests you but don’t see a for sale sign. You might wonder how to find out who owns a property. Since property ownership records are public, you can access the property data quickly, especially if you have the property’s address. But not all cases are easy; sometimes, it takes some work. Whether you’re considering the home for your primary residence or to purchase as a real estate investor, knowing how to do a property owner search can be useful. L...
Sep 23, 2023•11 min•Ep. 1074
Multifamily properties are among the most common types of housing that investors rely on to grow their portfolios. They provide consistent and reliable income, have relatively low vacancy risk, and typically appreciate over time. Working with a multifamily real estate agent is smart if you are considering investing in this type of property. These professionals can help you find what you are looking for in less time and possibly help you save money during the negotiations. Learn more about your a...
Sep 22, 2023•15 min•Ep. 1072
PropTech is a relative newcomer to the “Tech” suffix world; you may be more familiar with the more recognizable MarTech and FinTech terms. While this terminology may be trendy and buzz-worthy, what does it really mean to put it to work in your real estate investment business? Keeping your competitive edge, and creating efficiencies across your growing portfolio, requires deft use of technology. Implementing the wrong solution or technology that doesn’t deliver value can be a costly mistake. Unde...
Sep 21, 2023•8 min•Ep. 1072
Real estate offers a variety of investment options. Tax lien investing is another method for real estate investors to make money, and while it is a little different than your typical buy, flip, and sell, there are some similarities. Some tax lien investments turn into property ownership if the property owner fails to pay back the property taxes on time. Finding homes with delinquent property taxes is more challenging than looking for a standard investment property. You have more hurdles to jump ...
Sep 20, 2023•14 min•Ep. 1071
As a real estate investor, buying a new property is a significant personal and financial decision. While the process can be challenging sometimes, it’s all worth it once the transaction is complete. Understanding how to purchase a house is vital to your success, and that’s particularly true of the closing process. One of the most important questions is, “How long does it take to close on a house?” In this article, we dive into the finer details of the closing process. Learn more about your ad ch...
Sep 19, 2023•16 min•Ep. 1070
Workers were adding the finishing touches to a Ranch-style home just when an all-black Tesla Model 3 pulled up to the job site. As the door opened, an investor stepped out into the Dallas, Texas, heat. Enthusiasm emanated from this seasoned flipper as he encouraged his team and lent a hand. This is Don’nell Greer. With over 200 flipped houses under his belt, Greer is a real estate pro who has managed to build an impressive real estate machine. He started in Dallas and has since expanded his oper...
Sep 18, 2023•10 min•Ep. 1069
Congrats! You just closed on your new STR. Now the race is on to fix everything and prepare it for guests and 5-star reviews. As you contemplate your rental tech stack and how to get beds in bedrooms ASAP, don’t ignore your walls! These are the touches that will help cement your vibe, make guests feel like they’re entering a cared-for home, and are often the details that get mentioned in guest reviews on sites like Airbnb and VRBO. (A recent review of my own STR: “The house was clean, tastefully...
Sep 17, 2023•7 min•Ep. 1068
As a property owner, you’ll likely have neighbors who own property near you. And while friendly neighbors can make an area enjoyable, they can also be a source of frustration for many residential and commercial property owners. One common frustration between neighbors is encroachment in real estate, when someone uses or builds on someone else’s land. On its face, encroachment isn’t a particularly tough concept for smart investors to grasp, but it’s far more complex. Here’s what you, the savvy Bi...
Sep 16, 2023•9 min•Ep. 1067
Many landlords believe property management fees cut profit margins to a minimum in exchange for basic services to maintain your rental property. But the reality is that a property manager can simplify your life and smooth out the kinks in your investment properties—for a reasonable rate that maximizes profitability. A recent survey of landlords found that over 88% had experienced stress in renting out their properties, and over 44% had to evict a tenant. But before you hire a property manager, i...
Sep 15, 2023•10 min•Ep. 1066
Math is a vital component of real estate investing success. Understanding how your business makes money is imperative in helping it make more. To know how profitable your rental properties are, you’ll need to have a solid grasp on calculating rental property cash flow by using a rental property cash flow analysis. Let’s explore how to calculate cash flow and perform a cash flow analysis for your rental property so you can see where you can make more money. What is a Rental Property Cash Flow Ana...
Sep 14, 2023•20 min•Ep. 1065
There has been a lot of discussion on BiggerPockets about whether it’s worth getting your broker’s license. Still, the question of whether to get your CCIM (Certified Commercial Investment Member) has been left mostly unanswered. I touched on what such a designation offers here, but it certainly isn’t for everyone. What is a CCIM Designation? A CCIM designation recognizes an individual is an expert in commercial real estate investing. Awarded by the CCIM Institute, formerly known as the Commerci...
Sep 13, 2023•10 min•Ep. 1064
One of the most common questions people ask real estate agents is, “What credit score do you need to buy a house?” It’s a great question. Experian reports the average credit score in the U.S. is currently 714 as of 2021—and those numbers are steadily rising year over year. That’s a good credit score to buy a house, although by no means the lowest lenders will accept. With some lenders, you can take out a mortgage with a score as low as 620. But according to BadCredit.org, 16% of Americans have a...
Sep 12, 2023•17 min•Ep. 1063
Becoming a successful investor doesn’t happen overnight. It requires patience, hard work, and the ability to reassess following any mistakes. Reflecting on over a decade of investing in real estate, I’ve concluded that five things have been the most influential in my success to date. These five things will also likely continue to be essential during my lifelong career as a real estate investor. In less than 10 years of intentional investing, I was able to acquire an eight-figure investment portf...
Sep 11, 2023•13 min•Ep. 1062
The question of whether to trust one’s own gut or to painstakingly analyze any given problem has found different answers amongst different people and in different situations for centuries. On one hand, there is certainly such a thing as “paralysis by analysis.” I myself have seen numerous cases of wannabe real estate investors spend an enormous amount of time (and money) learning, only to never actually buy a property. You can even spot some “seminaraholics” at many events who have been to count...
Sep 10, 2023•15 min•Ep. 1061
To understand a reverse 1031 exchange, you should first make sure you know the ins and outs of a 1031 exchange. Key differences exist between a standard 1031 exchange and a reverse 1031 exchange, designed to defer taxes while investing in real estate. Read on to learn more about what it is (and how it differs from a 1031 exchange), how to complete one, and how it can benefit you. What Is a Reverse 1031 Exchange? A reverse 1031 exchange is a tax deferment strategy that allows real estate investor...
Sep 09, 2023•17 min•Ep. 1060
Escrow is a key part of real estate transactions and mortgage agreements, but many homebuyers and homeowners aren’t familiar with escrow and how it works. Escrow protects homebuyers, sellers, homeowners, and even lenders with real estate-related financing—it supports those parties throughout the homeownership lifecycle. Let’s break down what escrow is, its role in real estate, and how it can be beneficial. Learn more about your ad choices. Visit megaphone.fm/adchoices
Sep 08, 2023•15 min•Ep. 1059
So, the day has come to finally figure out how much your rental property income will affect your child support payment. You won’t be surprised that many states consider that pretty penny a critical component when calculating these payments. As with any financial analysis, it’s essential to understand how to break down the numbers, especially regarding child support. In most cases, parental income is calculated in its entirety. You’re going to have to provide proof of all of your finances. For re...
Sep 07, 2023•11 min•Ep. 1058
Custom building a home is a dream many homeowners share. Being able to design your home exactly to your preferences is an exciting but time-consuming endeavor. So, how long does it take to build a home? Building a custom home can take as little as a year to upwards of three years. The reason it’s so hard to nail down an average time estimate for completion? The average time for how long it takes to build a house can vary widely due to the scope of the project, weather-related delays, and how rea...
Sep 06, 2023•13 min•Ep. 1057
Did you know you can buy real estate using your IRA or 401(k)? Most real estate entrepreneurs are unaware of how easy it is to buy real estate with their retirement money. Welcome to the world of Real Estate IRAs. 1. What is a Real Estate IRA? A real estate IRA is a supercharged IRA that enables you to invest your retirement money directly into real estate such as multi-family, commercial, land, fix-and-flips, tax liens, and more. It has the same tax benefits as a regular IRA and can be set up a...
Sep 05, 2023•14 min•Ep. 1056
I’ve been investing in real estate since 2005, and to this day, I have yet to hear any other investor say, write or even hint at anything that resembles the following, “You know, I have this problem where I’m just budgeting too much for rehabs. I end up borrowing more than I need, and I’m probably missing out on deals because my rehab budgets are too large. I just always seem to come in under budget.” I’ve gotten better and better at hitting budgets since I started, but I still go over more ofte...
Sep 04, 2023•14 min•Ep. 1055
Closing costs are a crucial aspect of any real estate transaction, but they can vary widely, build up quickly, and be confusing to understand. Buyers tend to focus on the upfront expenses like the purchase price and down payment. Sellers often consider the repairs and renovations needed to make the home presentable for showing. But before the real estate deal’s done, buyers and sellers must pay closing costs. You can avoid unwanted surprises during the home buying or selling process by understan...
Sep 03, 2023•17 min•Ep. 1054
2023 has presented tremendous challenges for investors looking to get started. Financing is expensive compared to the historically low interest rates during the COVID boom. And, although they’re stabilizing, home prices have seen massive appreciation. Throw low inventory into the mix, and you’ve got an investor’s worst nightmare. In short, it’s tough to cash flow right now, but luckily, it’s still possible. Take, for example, Jessica Later, a real estate broker and investor who’s crushing it in ...
Sep 02, 2023•10 min•Ep. 1053
State income taxes are often a complex topic with major implications for real estate investors. Placing your money in states without income tax may be a smart idea and allow you to keep more money in your pocket each year. Which states with no income tax does it make sense to invest in? How should you consider structuring your home rental business to optimize results? Understanding your potential tax liability in the nine states without an income tax allows you to make the best decision for your...
Sep 01, 2023•15 min•Ep. 1052
A fourplex may be a good place to start if you’re considering testing the waters as a residential real estate investor. It’s also a sound investment for the first-time homebuyer, as you can live in one of the fourplex units and rent the others—your tenants pay the mortgage. If you want it strictly as an investment property, that’s not a problem, although it may limit some attractive financing options. What Is a Fourplex? A fourplex is a multifamily home with four separate units under one roof. Y...
Aug 31, 2023•12 min•Ep. 1051
Medium-term rentals are more profitable than long-term rentals and less stressful than their short-term counterparts. While they used to be mainly for traveling nurses and business professionals, they’ve become more popular than ever due to the rise in digital nomadism and the stricter regulations enforced on short-term rentals. In this post, we’ll explore how to invest in medium-term rentals so you can decide if they’re right for you. Learn more about your ad choices. Visit megaphone.fm/adchoic...
Aug 30, 2023•16 min•Ep. 1050
Remote work, rapidly rising rents in some cities, and a desire for more amenities are all factors driving Americans to relocate—but the areas drawing the most new renters are shifting, according to the new Rent.com migration report for the first quarter of 2023. Back in January, we reported that renters were showing interest in the South and Midwest regions due to relatively affordable housing available in many cities in these regions when compared to the West and Northeast. But as more people f...
Aug 29, 2023•11 min•Ep. 1049
If you’re planning on buying or selling an investment property, having a handle on market conditions is critical. Can you expect a bidding war? Do you need to pay in all cash to win? What concessions might you need to make for buyers? There’s no way to answer all these questions with certainty, but a new survey from Opendoor does offer some insights. Here’s what to keep in mind as you prepare for buying or selling a property in the current market. Learn more about your ad choices. Visit megaphon...
Aug 28, 2023•6 min•Ep. 1048
Home prices across the U.S. had the highest quarter-to-quarter gain since 2015, as potential homebuyers are getting pushed out of an increasingly expensive market. The median single-family home value rose 10.2% from the first to the second quarter of 2023 to $350,000, a report from real estate data firm ATTOM found. It’s the biggest quarterly increase in almost the past decade. Median home prices in 565 of the 574 counties analyzed in the report (98%) were less affordable than in prior quarters,...
Aug 27, 2023•5 min•Ep. 1047
There’s no doubt that occupancy rates are declining for Airbnb properties amid a supply increase, but whether we’re entering an Airbnb apocalypse or just seeing a heated market moderate depends on who you ask. Nick Gerli, CEO of Reventure Consulting, began a viral debate over the future of Airbnb revenue when he tweeted a chart based on data from short-term rental analytics firm Alltherooms, which depicted average revenue per listing falling up to 47.6% in some cities. Gerli suggested the trend ...
Aug 26, 2023•13 min•Ep. 1046
