What's one thing we all need to be concerned about?
We're starting to see inflation rise across many spectrums of the economy. And it is a little bit unnerving when we look at it. Inflation has actually crossed the 2% threshold it's actually past 4% right now.
It's different every month, but it's rising fast across all kinds of asset classes and employment. We're starting to see that real, serious pressure on wages. And a lot of wages have driven up.
We now have more job openings in our country than we've ever had recorded before. Think about what I just said: Job openings are wide open.
This idea that we have an unemployment rate is almost ridiculous because every American -- based on the amount of openings right now -- could be employed. They're choosing not to be employed in some areas or they're choosing not to go to work because of wages or whatever. But in a lot of areas, there's not just enough jobs, there's too...
I have a goal for you: Buy a rental property in the next 12 months.
Now, why would you want to buy a rental?
Years ago, one of my mentors said to me, "Jim, do you know the easiest way to make a million dollars in real estate and the hardest way to make a million dollars in real estate?" I said, no, tell me. He said, "Well, the hardest way to make a million dollars in real estate selling it. The easiest way to make a million dollars is owning it."
I never forgot those words.
Now that doesn't mean that I quit my day job and I tried to become a flipper. It also doesn't mean I'm chased some unrealistic get-rich-quick kind of schemes. What it means is that I understand the most powerful investment on earth I can make as a REALTOR is to invest in my retirement and buy rental properties every single year.
That's exactly what I've done throughout my 30 years in this business. My rental properties create stability and financial independence so that my business...
A recent study that shows about 6% of people are taking advantage of eviction moratorium laws. In other words, they're not paying their rent and they're just staying in place. In those cases where the tenant is unable or unwilling to make their rental payment, it can become a burden on the people that own these investment properties.
Why? Because they have to continue to make their own mortgage payments.
As a real estate professional we should reach out to investors as a resource. How? Try using the "Lock In Your Upside" script:
"My name is (your name) with (your company name). I am calling about an investment property at (address of units) did I reach (owner name). Great! Quick question - how did you do with rent collection last month? You know, the biggest challenge that I'm hearing from rental owners in the market when I'm talking to them is that they're having a challenge with the eviction moratorium. The reason for my call is that we have still...
When the stock market is in turmoil it's a good time to connect with clients and remind them why buying residential rental real estate is such a safe, stable, and secure investment.
Here are 7 Reasons Why Real Estate is a Great Investment:
1) Appreciation - The market has returned to a healthy, stable, and predictable 4-5% appreciation. Rental properties go up in value as rental prices rise. With high demand and low vacancy rents have been rising steadily for several years. In addition the job market and the maturing millennial generation are creating thousands of new households each month.
2) Depreciation - The IRS allow rental owners to "write down" a portion of the value of their rental investment over a period of time. This allow rental owners to offset some of their annual gains which can increase their ability to shelter income. Always refer your clients to a qualified CPA for guidance.
3) Sweat Equity - When rental owners make improvements to their...
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