Larry Mills’ Post

Now this article has some simple but profound advice! Take a minute for a quick read>

#PublicRelations is one of the most credible ways for #mortgage firms to stand out as industry leaders, as I wrote in Scotsman Guide: https://lnkd.in/eWdafpDG I hope you find the article helpful.

I want to know the author of this article? https://lnkd.in/dBXQAsXi

Accidental #realestateinvestors, #proptext is talking to you, and those who have always thought it would be a good idea to invest in real estate but haven't gotten around to it. Well, the time has come. If you haven't subscribed yet, do so immediately: https://lnkd.in/dwcTwERQ The concept of homeowners renting out their primary residence after they move is not new, but there is anecdotal evidence that this investor class of so-called “accidental landlords” is growing. Greg Schwartz, founder of the real estate listing website #Tomo, has said 15% to 20% of homeowners who buy a new home in the Dallas market choose to keep their old one to rent.  The notion that real estate can power a #wealthbuilding portfolio has become a mainstream choice for retail investors (most of America). The most common scenarios include: → Outgrowing a primary residence and choosing to rent it out vs selling  → Relocating and opting to rent a former primary residence vs selling → Property owners who have a #lowmortgage rate and are reluctant to sell and lose cheap financing  → Inheriting a property What else is driving this increase in accidental landlords?  The advantages of real estate investment are straightforward. Principal, interest, property tax, insurance (known as PITI), maintenance, and potential vacancies, are the carry costs for an investor. If rental income covers these costs, the property pays for itself while the owner benefits from long-term home price appreciation and builds equity. If rent exceeds these expenses, the investor also reaps cash flow. Couple these benefits with depreciation and other tax advantages, and real estate offers a compelling asset in an investor's portfolio. Low prices after the 2008 housing market crash, followed by a prolonged low-interest rate environment (with historically low sub-3% rates in 2020-21) helped feed a spike in prices during the pandemic and created an unprecedented real estate environment. According to a working paper from the #FHFA, these low “mortgage lock-in rates” kept some 1.3 million homes off the market from the middle of 2022 to the end of 2023.  The 80% of American homeowners who now have a sub-4% fixed-rate mortgage are increasingly reluctant to upsize or downsize if it means taking on a mortgage rate over 7 percent. The upshot is that inventory shortages will likely continue, supporting higher rents and property values. Our analysis, based on anecdotal evidence and polling from #Gallup that shows 34% of Americans said last year that real estate was the best long-term investment, suggests that up to 20% of homes not on the market could be redirected towards rentals.   We think the number of real estate investors owning between 1-9 units could increase significantly in the next couple of years. Property managers and the brokers serving investors are keen on understanding these dynamics and we are committed to delving deeper into this topic.

There is good information in this Article.

Certainly worth the read of this article.

My latest article.

🏠 What Does a Clean Title Mean? Insightful Review 🏠 Get the full details from Mortgage Rater here 👉 https://lnkd.in/g78cWkaf #MortgageRater #MortgageTips #HomeLoans #MortgageNews #FinanceTips #HomeBuying #InterestRates #MortgageBroker

This is fascinating article - well worth a read!

Very interesting article. A little long but worth the read.