From steps to success to how to deal with changes in the housing market, Inman Connect speakers shared their secrets.
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Real estate investors and aspiring real estate agents had several opportunities to learn from the experts last week at Inman Connect Las Vegas.
From the basics on what steps to take to succeed as an investor to how to navigate the upcoming changes in the housing market, Connect speakers shared their secrets on what works – and what doesn’t. not – as an investor.
Here’s what they had to share on the Inman Connect stage.
Not being afraid to fail, selecting a good team and choosing the right location for an investment property are all key steps to succeeding as an investor, said India Whitlock of Keller Williams and Anthony Navarro of Harper Real Estate Connect participants.
Both speakers also pointed out that an agent who walks, instead of just talks, gains leverage with their clients, as well as valuable experience to share with them. This is why investing as an agent can be a useful value proposition for agents in their business, in addition to the personal benefits it can bring.
Former NFL player Doug Brien, now CEO of Mynd, and Roofstock CEO Gary Beasley shared with agents the benefits of investing in single-family rentals today. A decade ago, the risk of investing in single-family rentals was “extraordinary”, Beasley said, but today both speakers agreed it was an asset class very stable, especially for long-term investors with good funding.
Plus, Brien and Beasley noted, it’s easier than ever to invest remotely, especially with companies like Mynd and Roofstock establishing online marketplaces for investors to do business across the country.
The combination of good real estate technology and the know-how of local agents is crucial for the success of real estate investors, said Homeward founder Tim Heyl. Heyl founded the cash offering company, buy before you sell in 2018 after working as an agent in Austin and realizing his clients were missing out on opportunities because they couldn’t pay cash.
“We don’t pretend that everything is fine, but we know where the problems are,” Heyl said of the perspective agents can bring to their investing clients.
Investors still considering offloading a property for profit may want to do so now before the housing market hits an impending chill, suggested Ivy Zelman of real estate research firm Zelman & Associates.
With the market having peaked this year as retail and institutional investors have sought to profit from rising prices, retail markets across the country will soon become oversaturated, which will dampen demand significantly. This reduction in demand will ultimately lead to stagnation in all price levels and all types of buyers, Zelman explained, which is why now is the time for investors to act.
Brad Greiwe, co-founder of venture capital firm Fifth Wall, said there is currently no end in sight in terms of venture capital infusion into real estate. With the market for new real estate technologies essentially open to opportunity, Greiwe (who also co-founded single-family rental giant Invitation Homes) said venture capitalists will continue to take advantage of the market opportunity to create a deal of consumption more transparent.
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