Real Estate Success Story
Clayton Morris went from being a television news anchor for networks across the United States to being an uber successful real estate investor. Feeling a lack of security in his anchor job, even as he reached top level success, Clayton began looking to diversify his income stream. He worked to break his dependency on his fulltime salary. He built a game plan to retire off single family rental income and went to work. Listen to his story at Invest Four More.
Rise of Mixed-Use Real Estate
Mixed-use developments are rapidly becoming one of the most popular product types in U.S. development.
There are a few reasons that mixed-use developments have become a gem in the US real estate industry:
- Efficient land use in an increasing amount of supply constrained areas.
- Meets consumer demand and leads to sustainable urban planning.
- Diversifies portfolios for RE investors.
Adam Robinson of RAF Pacifica Group believes this growing gem of development is the wave of the future. Mixed-use assets will reap strong benefits for the long-term. Dig into his thoughts here.
5 Places To List Your Rental Property for Free
Buildium proposes 5 alternatives to the "For Rent" sign in your rental property window (or the front lawn.)
- Leverage Your Own Website
- Blast out an Email Newsletter
- Use these Free Rental Sites
- Post on All Your Social Media Accounts
- Post those "For Rent" Signs (all over your neighborhood)
Amazon Muscling Out Petco and PetSmart
There's speculation afloat that Amazon's own pet brands may start muscling out Petco and PetSmart from the pet supplies space. Imagine all that empty brick and mortar retail space that would be left over in the aftermath.
Yesterday we mentioned that retail real estate has been slowly slumping since 2014 and the decline seems to be ever more precipitous. Do you think Pet store retail will be the next to go?
See the post on Fortune here.
From Single Family to Multifamily Investing
Sterling White discusses how he made the transition from single family real estate investing to multifamily. It can seem daunting to many first time investors, but as a seasoned pro, Sterling gives some great advice. One of the most important pieces - take the time to educate yourself. He says:
I read multiple books, one being Multi-Family Millions by David Lindahl, read through forums on BiggerPockets, and watched hours and hours of material on YouTube (mostly by Grant Cardone). It also helped that my previous mentor was involved heavily in the industry. So I learned from him. There are a lot of misconceptions and myths about stepping up to multifamily investing. Get to know the truth, and it may be a lot easier than you think.
Next step is to lay the groundwork. First, decide if you're going to self manage. If not, begin looking for a property management firm before investing. It is important to understand the service landscape as well. There are many softwares and third party maintenance operators that can take huge amounts of your investment operation off your plate. (i.e. get an emergency hotline so you don't have to wake up at 2am when a tenant calls.)
Read the full opinion piece over at BiggerPockets.