Better Than Success Real Estate News Briefing

What You Need To Know About That Viral iBuyer TikTok

https://www.msn.com/en-us/money/realestate/what-you-need-to-know-about-that-viral-ibuyer-tiktok/ar-AAPwA8h

Fannie Mae vs. Freddie Mac: What’s the difference

https://www.msn.com/en-us/money/personalfinance/fannie-mae-vs-freddie-mac-whats-the-difference/ar-AAPtpBY

How to Kick Someone Out of Your House: Evicting a Family Member With No Lease

https://www.realtor.com/advice/rent/how-to-evict-a-family-member/

On Wednesday’s event, Customize Your Own Creative Financing Strategies for Your Next Real Estate Deal with Nicole Purvy, she shared shared some rules for your financing strategies, a few of them include:

With rental loans, banks will finance up to 80% of the acquisition cost or the appraisal value whichever is less.

Most banks do not require seasoning of a property for a refi.

Banks use appraisals for refi’s, but for multi-families they will consider an income approach and market data.

To see our upcoming events, visit betterthansuccess.com/events.

Every week, the team at Better Than Success round up the biggest and most important news, policy changes, funding sources and investing opportunities for real estate investors and small business owners. It's the market information you need to know before pulling the trigger on your next or first investment.

Find each article mentioned in episode 19 below...

Mortgage rates could rise if the Fed starts tapering next month: What to do now

https://www.msn.com/en-us/money/realestate/mortgage-rates-could-rise-if-the-fed-starts-tapering-next-month-what-to-do-now/ar-AAP6RX6

Could the Race to Space Create New Housing Opportunities?

https://rismedia.com/2021/10/04/race-space-create-housing-opportunities/

As Opportunity Zone Window Closes, The Case For Investment Is Stronger Than Ever

https://www.forbes.com/sites/forbesbizcouncil/2021/10/05/as-opportunity-zone-window-closes-the-case-for-investment-is-stronger-than-ever/?sh=727f1c3255f5

On Wednesday’s event, The Most Common Problems Developers Face on Their Construction Projects and How to Avoid Them with Jamil Soucar, he shared 4 common problems that developers face in their construction projects. He introduces the acronym HOME with 4 tips to use on your next construction project:

H - Have a clear, accurate and complete understanding of the scope of work that you would like to do before you get the project to the contractor.

O - Open your mind, there will be change orders. Put in a 10%-15% extra budget in case this happens.

M - Mitigation. In this process, the relationship with your architect and contractor is very important, each of you need to collaborate with each other in order to provide an effective resolution.

E - Expedite. Don’t let things drag in construction. Get a professional who can handle your project.

To see our upcoming events, visit betterthansuccess.com/events.

Every week, the team at Better Than Success round up the biggest and most important news, policy changes, funding sources and investing opportunities for real estate investors and small business owners. It's the market information you need to know before pulling the trigger on your next or first investment.

Find each article mentioned in episode 18 below...

Home-flipping profits are shrinking, but here’s where you can net the most

https://www.cnbc.com/2021/09/27/home-flipping-profits-are-shrinking-but-heres-where-you-can-net-the-most.html

Mortgage Rates Will Spike If U.S. Defaults On Debt, Moody’s Report Finds

https://www.forbes.com/sites/kathleenhowley/2021/09/24/mortgage-rates-will-spike-if-us-defaults-on-debt-moodys/?sh=5b0bf3de304f

Fannie Mae Extends Multifamily Protections for Renters Indefinitely

https://www.prnewswire.com/news-releases/fannie-mae-extends-multifamily-protections-for-renters-indefinitely-301384789.html

On Wednesday’s event, Raising Private Capital to Invest in Philadelphia with Albert Wu, Albert shared that he used private money to invest in real estate for his first successful deal. He says there are 3 things to manage your reserves:

• Understand your financing portion
• Having a control of your mortgage, and
• Good construction management

On Thursday’s live Q&A session with Hoan Thai he shared one way to increase your rental income is by doing a rehab or improving the property. He said that he did this in one of his occupied rentals and added a washer and dryer. He was able to increase the rent to the average amount his tenant spent at laundromats. He also shared that it took him years to build his line of credits. He has a mix of credit both business and personal which he started when he was 18 which now helps him when investing in real estate.

To see our upcoming events, visit betterthansuccess.com/events.

Every week, the team at Better Than Success round up the biggest and most important news, policy changes, funding sources and investing opportunities for real estate investors and small business owners. It's the market information you need to know before pulling the trigger on your next or first investment.

Find each article mentioned in episode 17 below...

FHA loan limits in 2021: What borrowers need to know

https://www.msn.com/en-us/money/realestate/fha-loan-limits-in-2021-what-borrowers-need-to-know/ar-BBZdBr4

Homebuilder sentiment improves for first time in three months after a big drop in lumber prices

https://www.cnbc.com/2021/09/20/homebuilder-sentiment-improves-after-big-drop-in-lumber-prices.html

Artificial intelligence is taking over real estate – here’s what that means for homebuyers

https://www.cnbc.com/2021/09/17/what-artificial-intelligence-means-for-homebuyers-real-estate-market.html

On Wednesday’s event, How To Invest in Commercial Multi-Family by Using Group Economics with Harold he shared insights on commercial investing. He shared that for a commercial property, the down payment is significantly higher than a residential property. Despite having experience, lenders want anywhere from 25% to 30% down. He also stated that if your commercial property is located near anything that’s environmentally unsafe like a gas station. You will need to have a phase report showing that there’s no soil contamination coming from the site next to your property.

On Thursday’s live Q&A session with Asia Denson she shared that if you're planning to buy land and build a property you will need to get approval from your city, this includes presenting your plan, stamped blueprints, how you’re going to pay for it and having an approved licensed contractor. As a contractor herself she shared that in order for you to get a GC license in Detroit, you have to complete 60 hours of education and pass a test. The total cost is around $1500 which includes taking the class, purchasing books, and paying for the licensing exam .

To see our upcoming events, visit betterthansuccess.com/events.

Pandemic's Impact On Real Estate Around The World

https://nationalmortgageprofessional.com/news/pandemics-impact-real-estate-around-world

Here’s exactly what economists and analysts think will happen to mortgage interest rates in the coming year

https://www.marketwatch.com/picks/heres-exactly-what-economists-and-analysts-think-will-happen-to-mortgage-interest-rates-in-the-coming-year-01637502601?reflink=mw_share_twitter

The Infrastructure Bill Means Billions For Construction Projects. Now Who Is Going To Build Them

https://www.bisnow.com/national/news/construction-development/cities-prepare-for-billions-of-dollars-in-construction-projects-now-who-is-going-to-build-them-111008

To see our upcoming events, visit betterthansuccess.com/events.