Podcasts about rents

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Best podcasts about rents

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Latest podcast episodes about rents

Black Real Estate Dialogue
5 U.S. Metros Where Rents Are Rapidly Increasing | Here's What This Means for Investors

Black Real Estate Dialogue

Play Episode Listen Later Aug 8, 2022 12:07


Don't forget to subscribe, leave a rating and a 5-star review. I will be shouting out all 5-star reviews on the show!According to a report from housing brokerage HouseCanary, the Average rent for a single family home nationally is $2,495/month. This is a 13.4% increase from the first half of 2021.In this episode I share the 5 metros with the highest/lowest rents and my thoughts on what this means for investors. Get your tickets for the Dallas Networking Event- https://bit.ly/bredbwr Learn how to invest out of state- https://www.outofstatemoney.com/Access all of our resources on our website- https://www.blackrealestatedialogue.com/linksJoin the B.R.E.D. Investing Community- https://bit.ly/bredcommDownload my free guide Top 5 Down Payment Assistance Programs- https://bit.ly/dpassistance1Learn how to build your real estate team- https://bit.ly/buildyourteambredLearn how to find your first tenant- https://bit.ly/firsttenantcourseText BRED to 74121 to join our VIP Text List to get a free training and the latest updates!

L'entretien de Sonia Mabrouk
EXTRAIT - Présidence du RN : «Il n'y a pas de concurrence, il y a deux profils différents», assure Louis Aliot

L'entretien de Sonia Mabrouk

Play Episode Listen Later Aug 8, 2022 5:00


Louis Aliot, a annoncé fin juillet sa candidature à la tête du Rassemblement national. Face à lui, l'actuel président par intérim, Jordan Bardella. Deux bras droit de Marine Le Pen, "deux profils différents, deux manières de voir le mouvement pour l'avenir", mais le maire de Perpignan l'assure au micro d'Europe 1, "il n'y a pas de concurrence".

Wealth, Wine and Wisdom
Rents rise 30%! Fixed interest rates go down!

Wealth, Wine and Wisdom

Play Episode Listen Later Aug 5, 2022 70:51


Wealth Wine and Wisdom - Rents rise 30%! Fixed interest rates go down! US recession? 50,000 people population boom and much more! Join Andy and Jason to debrief the week....grab a beverage kick off the shoe and let's do this!   To connect with Jason Whitton Website Facebook LinkedIn Instagram  To connect with Andy Fenton Website Facebook Instagram LinkedIn

RADIO X CHRONIQUES & ENTREVUES
Qc Crimes: Les différents profils des meurtriers

RADIO X CHRONIQUES & ENTREVUES

Play Episode Listen Later Aug 5, 2022 19:43


Stéphane Lévesque du podcast Qc Crimes est avec nous!

Simply Explaining Insurance
Simply Explaining Insurance #229- Loss of rents vs. Business income

Simply Explaining Insurance

Play Episode Listen Later Aug 4, 2022 8:07


This episode walks you through a specific situation where a business owner rents space from a landlord. In the event of a covered loss, what is the best way to ensure that the building owner still receives their rent money during the rebuild? Through business income on the business owner policy or loss of rents […] The post Simply Explaining Insurance #229- Loss of rents vs. Business income appeared first on Dietz Agency.

City Cast Las Vegas
Is New Orleans Square a Refuge for Artists Escaping Rising Rents?

City Cast Las Vegas

Play Episode Listen Later Aug 4, 2022 16:08


As rising rents push artists out of the Arts District, could the newly-revitalized New Orleans square be the answer? New Orleans Square is a two-story complex in the historic Commercial Center — once a hub for business, dining, and nightlife in the 60s and 70s. It has since gained a reputation (whether fair or not) as a dangerous hotspot for illicit activities. But business owners are working to rebrand the Commercial Center: Ron and Judy McMenemy bought New Orlean Square in the 2000s and curated it to create a center of arts and culture. Since their passing in the last few years, their children took over the building and have recently listed it for sale.  Host Vogue Robinson visits gallerist Nancy Good at Core Contemporary Art Gallery inside New Orleans Square. They talk about how Nancy is continuing Ron's work to make New Orleans Square a desirable place for artists, and why Las Vegas shouldn't be afraid of the area. Have you been to New Orleans Square? Let us know what you think of the area by leaving us a voicemail or a text at 702-514-0719. Or tweet at us! Follow us on Twitter @CityCastVegas. For even more Vegas news, get our brilliant morning newsletter at lasvegas.citycast.fm/newsletter! Learn more about your ad choices. Visit megaphone.fm/adchoices

Wealth Coffee Chats
Rents Are Up by 30% in Some Prime Suburbs in Melbourne. What Can We Expect in the Next Few Months?

Wealth Coffee Chats

Play Episode Listen Later Aug 4, 2022 24:40


Vacancy rates are at an all time low. With interest rates rising, what can we expect to happen in the property market in major cities in Australia? Let's Wealth Coffee Chat!

Fifth & Mission
Why San Francisco Rents Bounced Back to Sky High

Fifth & Mission

Play Episode Listen Later Aug 2, 2022 15:46


The onset of the pandemic offered a brief silver lining — lower rents. But it didn't last. The average price of a 2-bedroom apartment means you need to make $61 an hour to afford one. Reporter Lauren Hepler joins host Cecilia Lei to talk about what happened. | Unlimited Chronicle access: sfchronicle.com/pod Learn more about your ad choices. Visit megaphone.fm/adchoices

Made in Germany: Your Business Magazine
Surging rents – New York's housing crisis

Made in Germany: Your Business Magazine

Play Episode Listen Later Aug 2, 2022 5:54


Inflation and the pandemic have led to skyrocketing rents in NYC. Many locals are being priced out of the market, while evictions and homelessness are on the rise. But people are starting to take a stand.

Multifamily Real Estate Investing
Rents on The Move presented by Mara Poling

Multifamily Real Estate Investing

Play Episode Listen Later Aug 2, 2022 24:25


Rents are up? Why? Join Pat for 3 real life examples of rent movement in today's market - and the answer to the question why?As always you can email Pat at Pat@MaraPoling.com

rents mara poling
Culture en direct
Caroline Guiela Nguyen : "Rencontrer des gens différents fait émerger l'imaginaire et l'écriture"

Culture en direct

Play Episode Listen Later Aug 1, 2022 39:03


durée : 00:39:03 - Affaires culturelles - par : Arnaud Laporte - La metteuse en scène, autrice et réalisatrice, Caroline Guiela Nguyen, revient au micro d'Arnaud Laporte sur son processus de création et ses méthodes de travail. - invités : Caroline Guiela Nguyen Auteure et metteuse en scène

Cleve Gaddis Real Estate Radio Show
Hidden Falls in Buford, Tips To Raise Your Credit Score, & Investors Retreat as Rents Lose Pace

Cleve Gaddis Real Estate Radio Show

Play Episode Listen Later Aug 1, 2022 12:00


In this segment, we feature Hidden Falls in Buford in our Neighborhood Spotlight, I talk about an article headlined 'Atlanta Real Estate Investors retreat as rents lose pace with mortgage, renovation costs', and I answer a question from a listener asking, "As a kid, my parents instilled in me to keep my credit in good order, and to appreciate the value of a dollar. I am trying to instill this in my kids as well. Any tips on what is relevant nowadays, has it changed?"

Web2fou - Créez, Apprenez, Monétisez
Web2fou.fr - Les différents supports en affiliation

Web2fou - Créez, Apprenez, Monétisez

Play Episode Listen Later Jul 30, 2022 9:51


Les différents supports "médias" en affiliation...✅ L'exemple de Facebook VS email✅ L'email reste au centre de ta rentabilité✅ Les problèmes de faire "rester" son prospectLa magie des différents supports dévoilée. (j'ai pas d'inspi pour cette phrase..)Rejoins mes contacts privés : http://bit.ly/31MbjjCLa formation : https://shop.web2fou.fr/commencer-laffiliation-de-0-order

The LA Report
Gap between wages and rents highlights the difficulty for low-wage workers to stay housed. Plus: more of today's top stories – The P.M. Edition

The LA Report

Play Episode Listen Later Jul 29, 2022 5:32


Here's what we're following today: The housing tradeoffs for California's low-wage workers State officials mull monkeypox emergency declaration A sick-out at a pair of juvenile halls in L.A. County Water use down, complaints up This program is made possible in part by the Corporation for Public Broadcasting, a private corporation funded by the American people.  Support the show: https://laist.com

How to Scale Commercial Real Estate
Earning More Than $100K at 19 and Now Running His Own Firm

How to Scale Commercial Real Estate

Play Episode Listen Later Jul 28, 2022 19:22


In this episode, we welcome Angad Guglani, Founder and Principal at Cooper Square Acquisitions. He built his portfolio by utilizing the BRRRR method and was making 6 figures before he even hit 20 years old. Today, he reveals his strategies for success, how he's taking on bigger value-add deals with an in-house construction team, and why it's his goal to buy small businesses. He also digs deep into the impact of inflation on real estate and the opportunities in the horizon for the industry.   [00:01 - 03:23] An Early Start in Real Estate   Angad on buying his first house at 16 Succeeding with the BRRRR method   [03:24 - 15:14] Building A Vertically Integrated Company Why he's acquiring boutique multifamily buildings They require less rehabs than single-family homes Forming a construction team in-house  Handling historic rehabs with a 23-people team The challenge now is finding labor Angad's goal for his company: organic growth Is the BRRRR method dying? His perspective on the current market Rents may keep pace or exceed inflation The tenants are still the most important thing   [15:15 - 18:10] Investing in Businesses What are businesses worth investing in according to Angad Real estate vs. business investment   [18:11 - 19:21] Closing Segment Reach out to Angad!  Links Below Final Words Tweetable Quotes   “If inflation keeps ripping the way it is, the rents… hopefully they keep pace with inflation.  In the past have exceeded inflation, right?” - Angad Guglani   “I like to review all the applications myself before approving them… A great tenant can make a terrible property an amazing deal.” - Angad Guglani   “That's a beautiful thing about real estate is, at the end of the day,  people need a place to live.” - Angad Guglani   -----------------------------------------------------------------------------   Connect with Angad! Visit the Cooper Square Acquisitions website or email him at ag@cooperacq.com.     Connect with me:   I love helping others place money outside of traditional investments that both diversify a strategy and provide solid predictable returns.     Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below:   [00:00:00] Angad Guglani: When you're buying a piece of real estate, you're underwriting it, your competition, everyone's underwriting the deal. Everyone knows kind of where this deal's going to go. You're going to spend this much on the rehab. Your rent's going to be this much per foot or this much per year, this much per month, whatever it is, you figure out what your NOI is going to be. You figure out what your, the term loan is going to be at. And you know, you basically know, day one, what it's going to be now, granted you have to execute and you have to find the deal and the numbers could change depending on the market, but you kind of know that going forward. Versus if you buy a business, you can get in there and really say, oh wow. I had no idea we could take this company, in this vertical that we weren't even playing in.  [00:00:46] Sam Wilson: Angad Guglani started in 2016 with one single-family house. Now he runs a vertically integrated real estate investment company owning and managing 150 residential units without raising outside equity. Angad, welcome to the show.  [00:01:00] Angad Guglani: Hi, thanks for having me, Sam.  [00:01:01] Sam Wilson: Hey, man. The pleasure's mine. There are three questions I ask every guest who comes from the show: in 90 seconds or less, can you tell me, where did you start? Where are you now? And how did you get there?  [00:01:09] Angad Guglani: Sure, let's do it. So I started in, well, I grew up in Pittsburgh, but really started my real estate career in New York City, on the brokerage side, mostly residential rentals. Then I started investing in Camden, New Jersey and I've kind of expanded out to the general South Jersey, Greater Philadelphia Metro area, like the suburbs, and I live in Philadelphia now. [00:01:28] Sam Wilson: Gotcha.  [00:01:29] Angad Guglani: How did I get there? I guess a lot of, lot of BRRRR deals.  [00:01:32] Sam Wilson: Yeah. Talk to us about that. I mean, that's kind of what you said there, you know, in your intro was that, you know, you started in 2016 doing a lot of BRRRR deals. What was that process like? Can you tell us how did you do it so that somebody else who listened to this show may think about this as a potential strategy? [00:01:47] Angad Guglani: Yeah. The first thing I did is I started out in brokerage and I think it's a great way to start. I started, I got my real estate license. I was like 18 or 19 years old. And I was going to undergrad in New York at NYU. And I realized a lot of students were moving and they needed apartment. So they were paying rental, brokerage commissions. And I was like, wow, that's pretty cool. They're paying 3, 4, 5, 6, $7,000 in commissions. Each time they would move. And I'm like, wow, I could do that. So I got my license. I started doing that and started a company around that basically. And that was kind of my first foray into real estate. I mean, I learned a lot through that. But the number one thing that gave me was kind of the capital to start doing deals, really, and the capital to support myself. So my first, my first,, really year into it, I was already clearing mid six-figure like, you know, over 130, 140,000 bucks. And I was like 19 years old. [00:02:37] Angad Guglani: So I was like, wow, this is great. And that was kind of my jump into real estate. So I basically did that for all throughout college and for a few years after, and that money that I'd been saving up is what I used to start buying real estate. So I bought my first house at 16. I actually had two friends that I had partnered with at the time, just 'cause, you know, I'd never done any buying real estate before, I said, might as well have some friends help me. And so we did the first house together. I ended up buying them out, you know, at the end of that, And then 2017, I bought five single-family homes. These are all rehab, significant rehab, then rental, and then, you know, refi type deals. And at the end of 2017, I believe was when I first, you know, was able to, to refi, refinance all the equity out, plus some, and then I got all that cash back and was able to then just kind of snowball the, the equity from there. [00:03:23] Sam Wilson: Gotcha. And that's really the way that you've built your portfolio is just continuing that BRRRR method. What are you buying right now? Have you moved into any bigger assets or is it all single-family?  [00:03:35] Angad Guglani: No. So yeah, I haven't done any big communities the way a lot of people do. They do like, you know, the big apartment communities, but what I really like buying now, what we really like focusing on is I call them boutique multifamily buildings, like anywhere between like 3 and 15 or 20 units. I think those are really cool because. They sell for significantly higher cap rates than, like, a big multifamily building. And you can go in there, a lot of times they're owned by mom and pops and there's two types of mom and pop investors, right? One is just basically, like, just this family business. And maybe they're not as sharp to the current market conditions as, you know, someone like yourself or myself in the industry. [00:04:17] Angad Guglani: And then there's kind of like the slum lord variant. So we like to buy from the prior, someone that's, you know, kept up with the property, taking good care of it, but now it's just kind of wants to retire. They're in over their head, 'cause you know, all these, a lot of landlord-tenant issues arose during COVID that drove people crazy. So if you're a small mom and pop, it's tough for you to navigate those. So we like to buy from those types of people and then we, you know, fix the units up, getting the current market and operate them pretty well. I think that strategy's a lot more scalable in single-family. Not because I think single family's unbelievable business because you, your loan tendency is great. The amount of equity can create because you'll get really good pricing on them, that's awesome. The fact that you could sell it to a homeowner or hold it, whatever. It's cool to have all that multiple exit strategies. The issue that we run into with the single-family strategy is not lack of deals, it's not lack of capital. It's construction labor, we just have 23 people in our construction team in-house, and we just cannot find enough people, even third-party contractors to help rehab these homes. So, you know, these boutique multifamily buildings, they need a lot less work per unit than buying a whole house, right? So that's kind of what we've moved the strategy into. [00:05:27] Sam Wilson: Do you feel like those particular sizes of units are what is just available in your area? Like, is that just common... [00:05:36] Angad Guglani: Correct. Yeah. So there, I mean, I wish there were like 10, 15, 20, 30 unit buildings. Just not many of those in South Jersey, it's an old, an old area, right? So a lot of those types of, like, 30, 40 unit buildings, I think those were built in the fifties and sixties. And there wasn't that much building over here then. And it was mostly single-family stuff that was built around that timeframe. So we have these small, like, under 10 unit buildings all over the place. And there were generally just big houses that were like mansions that were chopped up over the years. So we have that type of product and we do have some purpose-built multifamily, and then we have some big communities and stuff too. But those, those I stay away from just because they're trading at like, you know, 4, 5, 6 cap rate stuff and those are, you know, not the stuff we buy.  [00:06:19] Sam Wilson: Right, right. That makes a lot of sense. Yeah. I mean, 'cause the, what you're describing there that, what did you say 8 to 20 unit that's, I would think that's a very specific asset type, you know, for your location. Tell me about this. You said you have 23 people on your construction team right now, correct? [00:06:36] Angad Guglani: Correct. And then the number fluctuates. We hire people. There's some attrition but, yeah, so we have a head of construction and to him report our whole construction team, which they're all W2, we pay for their worker's comp and do everything the right way. And, they're experienced or mostly experienced people. We have teams like, you know, teams that help, you know, do the sheetrock, teams that do the framing, teams that, you know, in conjunction with the licensed electrician, will do some of the basic electric work, teams that'll help do the plumbing work in conjunction with the licensed plumber. You know, that's, we have basically specializations within the team, within the company of, of people that do everything. [00:07:09] Sam Wilson: And that's, that's your own in house construction crew.  [00:07:12] Angad Guglani: Correct. Yeah. In-house construction.  [00:07:14] Sam Wilson: Are you guys doing, I mean, 23 people, you, at this point, you said you have 160 units. I wouldn't think that's enough units to support a 23-person construction team. Are you doing outside work for other people as well? [00:07:26] Angad Guglani: So you're right on the fact that the 160 units is not enough to support staff outside, but the reason we have that many people and we could hire, if you could, if you told me had 20 more people tomorrow, I would hire them tomorrow is because we're rehabbing so many units. We buy distressed, fix up, and then, you know, rent out long term. So right now in our pipeline, I can tell you how many we have, just homes that are, or homes and units that are just sitting, waiting to be worked on. We have seven that are construction-ready, seven that are permit backlogged, and seven that are waiting to put in the permit. So about 21 units that are, that are waiting. So then that makes sense why we have as many people as we have and how we could afford to double and triple our size if we could get the people.  [00:08:09] Sam Wilson: Yeah, shoot, man. Absolutely. Absolutely. So, so an eighth of your portfolio is in construction phase right now. [00:08:17] Angad Guglani: Correct. And frankly, that's, that's actually good. I mean, there have been times 30, 35 units out of a hundred that are getting rehab. 'Cause these rehabs are big deals, man. They take two months plus.  [00:08:30] Sam Wilson: Oh, wow.  [00:08:30] Angad Guglani: And they're no joke. They're no joke. Most of the products we buy, everything's average age is built in the early 1900. Some are even in the late 1800. So we're talking full gut rehab, like full-on gut. We're taking the house down to the studs, you know, looking at the framing, making sure it's okay. Putting in new plumbing, putting in new electrical, whole nine.  [00:08:48] Sam Wilson: That makes a lot more sense. I'm sitting here, you know, thinking. Okay. You know, 21 units, like that shouldn't take that long, but this is a whole different, a whole different ballgame on the construction side that you're describing. You know, when you're doing historic rehabs like that, I mean, we always sat on a historic project. It's like, Hey, whatever, whatever your budget is just double it. And you might be close if you're lucky.  [00:09:12] Angad Guglani: Yeah. Tell me about it, man. It's no joke. And, you know, thankfully we haven't really, I know a lot of bigger developers have issues with, you know, I guess the materials that they're buying in bulk and stuff. Haven't really run into many materials issues. It's just been finding labor.  [00:09:26] Sam Wilson: Right.  [00:09:27] Angad Guglani: And I wish we had, you know, a ton of subcontractors we could turn to, we just haven't been able to find many that are, you know, most of the subcontractors nowadays want to, want to do residential work, like, you know, homeowner work 'cause it pays better.  [00:09:40] Sam Wilson: Right, right. Yeah, absolutely. When you think about your company and you want to fast forward four or five years, where do you want to take it?  [00:09:47] Angad Guglani: So personally, what I really want to do with my, you know, business career is I want to set this business up in a way where I can kind of leave the reigns the next, next year or so. And this business will be like a regionally focused real estate investment company. 'Cause I really feel, I feel like you have to be focused on one region, and the way we're vertically integrated, it kind of makes sense where we do all our management, all the construction, all the maintenance, everything in-house, under one roof and one office. [00:10:14] Angad Guglani: So I want to kind of create this business, so it runs like a machine here. And it grows organically, you know, whatever the available deals in the market are that meet our criteria, we buy them. We're not trying to set the world on fire and triple our size in one year. At one point I was trying to do that because the deals were so good in the market. Now it's kind of like a needle in the haystack strategy where you have to look at, you know, a fair bit of stop to find the good deals. And, you know, if we could put on 30, 40, 50 units a year BRRRR method, I would be thrilled and, and, and just want to pass the reins off to the team and let them kind of take over. And personally myself, my goal is to buy businesses rather than real estate. would love to buy small businesses and turn them around versus just being a real estate.  [00:11:00] Sam Wilson: I want to hear more about that. 'Cause I think there's the, I'm with you on that, in that there is great value in buying businesses. Someone else that I interviewed earlier today, and I don't remember who it was. So I can't even tell you what episode will be on when this goes out. But they said this is their conclusion, is that BRRRR is dead. They said that, you know, not being able to predict where interest rates are going, not being able to predict the cost of financing, like, they said, I think BRRRR is, if it's not dead, it's dying. Do you agree with that?  [00:11:30] Angad Guglani: I would, I would disagree with that based, and I think it's a lot based on your market, right? So South Jersey really is a sleepy kind of quiet market. We never had institutional capital come here. I don't know, from this area at all, it just kind of came out, came out as a good opportunity living in New York. I figured this was a good place to go. Because, you know, north Jersey is very competitive. It's like a derivative of New York, South Jersey is kind of sleepy. So we have plenty of deals here that you could do as a BRRRR. Now, as I'm facing. And I'm sure a lot of other people in our market that I speak to are facing the shortage of labor and not being able to turn units that way, but it's not like we can't predict interest rates. [00:12:12] Angad Guglani: I was on a call with a banker this morning that we've worked with extensively last year, doing some term refinances. And he was saying, okay, you know, you're going to be seeing rates. The last deal we called 400, 4%. Unbelievable. And he's like, okay, now just underwrite for five, 5.75%, or like worst case 600. And keep in mind, our yield on cost on these things is like in the high, you know, 900 to sometimes even 1100 to 1200. So we have a nice wide spread, so I'm not too worried about that. I'm not too worried about interest rates going up in our market at least.  [00:12:51] Sam Wilson: Gotcha.  [00:12:52] Angad Guglani: And, and keep in mind, like, rents are rising quite fast. So even if you take a deal and you're paying five and a half, 6% interest rate that straight is these are five-year fixed terms, right? Where do you think your rents are going to be in five years? If inflation keeps ripping the way it is, the rents are going to go all, hopefully, they keep pace with inflation. In the past have exceeded inflation, right? If you look at the last couple of years, if they keep in pace with inflation or exceeding inflation, even if you're paying 5 or 6% interest rate, you know, your cash flow year two, year three is super generous, right? If your rents keep rising 6, 7, 8% a year.  [00:13:26] Sam Wilson: Yeah. I hear you on that. I would not challenge it, but I guess the other side of that is at some point, you know, the renter, no matter where inflation is going, the tenant just can't afford the increases. If the economy takes a dive and jobs go away and suddenly there's, you know, a glut, like, you're, we're, we're at a labor shortage right now. I think that tide unfortunately may turn. And if it turns, suddenly people don't have the income to support the rent increases. It's going to be a very interesting way that that plays out. But I do, I do understand that historically speaking, yes, rents have outpaced inflation.  [00:13:57] Angad Guglani: A hundred percent, I mean, and that, and that goes down to unit type, right? And unit mix and how you underwrite your tenants. So like, we like to see, you know, I just signed a lease yesterday in one of the units. And I like to review all the applications myself before approving them, which I know it sounds a little bit micromanaging, but, you know, I found, I almost have a phrase that we say, which is like a great tenant can make a terrible property an amazing deal. Not to say terrible properties are probably great, but the tenant is the most important thing. [00:14:24] Angad Guglani: Or you could have a great property that you spent hundreds of thousand dollars rehabbing, put a bad tenant in, and you now have a terrible investment. So anyway, it's very important the tenants you put in, but now these tenants that we're putting in, the rent is $995. It's a small, like, one-bedroom apartment. [00:14:38] Angad Guglani: The tenants are making, I think, just making minimum wage. They're making like, it's a couple, they're making $4,500, $5,000 a month. They're four times coverage, four and a half, five times coverage over the rent. So and these are minimum wage jobs. They're just over minimum wage jobs and one's at a hospital and one's at, one's at a school. So, like, these are pretty stable and that's what a lot of our tenant base they're, they're not working at these high flying jobs that, you know, that you can really fire people from. So that's why I feel personally feel comfortable with the environment going forward on the macro side.  [00:15:14] Sam Wilson: Got it. I love it. I love it. Tell me, lastly, last, last topic here, buying businesses versus real estate, what type of business are, or businesses are of interest to you? I know you said. You a year or so, you'd like to leave the reins of your company in, in, in other hands. So there's got to be something on the horizon you say, Hey, here's some businesses I think that are out there that are worth investing in.  [00:15:37] Angad Guglani: That's a good question. And frankly, I haven't really looked at many deals on the business. I looked at a handful, but I really think it's deal-specific and market-specific, right? And I think it comes down to really, like, I want to move to a different area where I would love to live somewhere warm. I love golf. It would be great to live in an area where you could play more golf and I would want to get in that area, get in the community and figure out what's for sale. And as long as the business has legs where you can figure out a way where you can grow it, I mean, most of these businesses are trading anywhere from four to seven times EBITDA on the high end, really and you can get some sort of SBA financing on the debt side. So your return on equities going to be much higher than it is in real estate, as long as you don't screw it up. Not to say that I'm going to have the expertise to run it, great, but I'm just saying, like, if you really buckle down and try to figure out how to, how to work this business. [00:16:24] Angad Guglani: I think you could really do something with it. So, I'm finishing up my MBA at the University of Pennsylvania, the Wharton school. And there are a handful of kids every year that graduate from that program that does this, which is called a search fund where they mostly go out and raise capital from institutional investors and high net worth. And they go out and buy businesses. And personally been, you know, fortunate enough for the real estate to, to have the capital to do that myself, but it's not unheard of path. And that's really what, what I find to be quite exciting. [00:16:51] Sam Wilson: Absolutely. Absolutely. Yeah. It is amazing in the business side of things, how they do trade at different multiples than what your real estate plays do.  [00:17:02] Angad Guglani: And you can grow it, right? Like when you're buying a piece of real estate, you're underwriting it, your competition everyone's underwriting the deal. Everyone knows kind of where this deal's going to go. You're going to spend this much on the rehab, your rent's going to be this much per foot or this much per year, this much per month, whatever it is, you figure out what your NOI is going to be. You figure out what your term loan is going to be at. And you know, you basically know day one, what it's going to be now, granted you have to execute and you have to find the deal and the numbers could change depending on the market, but you kind of know that going forward. Versus if you buy a business, you can get in there and really say, oh wow. I had no idea we could take this company. And this vertical that we weren't even playing in. Or maybe the previous owner didn't have much of a sales staff. We could put in a sales staff. And instead of, you know, day one, knowing what your income could be. Once you get in and operate this thing, you could see, you could really turn the income of that business a lot more than you could turn the income of a real estate property. [00:17:53] Angad Guglani: That being said, it's overly simplified. It could be really tough too. I mean, that's a beautiful thing about real estate is, you know, at the end of the day, like people need a place to live. There's always going to be some sort of demand than you could be at a company that has no demand, like your product go obsolete. So there is risk as well.  [00:18:10] Sam Wilson: Certainly. I love it. I love. Angad, thank you for taking the time to come on today and share with us your story of how you've built a real estate firm, you know, without outside equity, how you've done it via the BRRRR method, what you guys are looking at right now, and just what you see opportunity on the horizon for you personally, but also just in your real estate investments as well. Certainly feel like I've learned a lot from you today. So thank you for taking the time to come on. If our listeners want to get in touch with you or learn more about you, what is the best way to do that?  [00:18:38] Angad Guglani: Sure, they could just go on our website. We actually just redesigned it. cooperacq.com. C O O P E R A C Q, our company's Cooper Square Acquisitions. You could email me at ag@cooperacq.com and, yeah, look forward to connecting.  [00:18:52] Sam Wilson: Awesome. Thank you again for your time. Certainly appreciate it.  [00:18:54] Angad Guglani: Thanks Sam. Have a good one. 

Le 12h30 - La 1ere
L'inflation est ressentie à différents degrés dans les foyers suisses

Le 12h30 - La 1ere

Play Episode Listen Later Jul 28, 2022 1:57


Invité Afrique
Référendum en Tunisie: «La plupart des Tunisiens sont soit indifférents, soit opposés au projet»

Invité Afrique

Play Episode Listen Later Jul 27, 2022 10:05


Neuf millions d'électeurs tunisiens étaient appelés à se prononcer sur la nouvelle Constitution, portée par le président Kaïs Saïed. Lors d'un référendum constitutionnel, le « oui » l'a très largement emporté mais avec une faible participation, autour de 28%. Un an après la suspension du Parlement, ce projet controversé, voulu par le chef de l'État Kaïs Saïed, est un « habit taillé sur mesure », explique Hamadi Redissi, chercheur et professeur de sciences politiques à l'université de Tunis. Quelles vont être les conséquences de ce vote ? RFI : Il y a eu moins de 30% de participation au référendum de lundi en Tunisie, qu'est-ce que cela signifie pour le président Kaïs Saïed ? Hamadi Redissi : En principe, ça signifie que sa base populaire est limitée à un Tunisien sur trois, sinon à un Tunisien sur quatre. Mais l'art politique consiste à transformer une faible participation en une grande victoire, c'est ce dont il se proclame et c'est ce dont se prévalent ses adeptes en disant que le taux de participation ne doit pas cacher le fait que la victoire a été large et à hauteur de 92% de oui. Quel est le profil de ceux qui ont voté pour la nouvelle Constitution ? On a des sondages qui affirment que la majeure partie de ceux qui ont voté ce sont des hommes plus que des femmes, des adultes plus que des jeunes, les gens des zones urbaines et du grand Tunis plus qu'au Sud et dans les zones rurales, mais pour l'instant on n'a pas encore le profil détaillé sur les catégories socio-professionnelles qui ont voté pour ce référendum ou ceux qui ont voté contre. Tout le monde s'accordait à dire jusqu'ici que le président Saïed était encore populaire malgré son coup de force, est-ce encore le cas après ce référendum ? Malgré la mise à disposition de tout l'appareil de l'État, des institutions publiques, d'une campagne émaillée de dérogations et d'entorses à la procédure, il n'y a quand même que 2,4 millions de personnes qui ont voté pour lui et donc sa base sociale est limitée.   Dans ces conditions, sur quoi repose, ou va reposer, son pouvoir ? Une opposition divisée, une lassitude des Tunisiens, une préoccupation d'ordre économique et l'allégeance des administrations publiques, la culture politique d'obéissance. Tous les chercheurs parlent d'une nouvelle Constitution taillée sur mesure pour Kaïs Saïed, pourquoi ? Tout simplement parce qu'il concentre en ses mains la totalité du pouvoir, il est le chef de l'État, il nomme le chef du gouvernement, les ministres il peut les limoger, le Parlement s'il vote deux motions de censure d'affilé, le chef de l'État ne démissionne pas, le chef de l'État est irresponsable politiquement, le chef d'État nomme les magistrats, vous voulez que je continue ? Mais alors, quels contrepouvoirs vont rester en Tunisie ? Il n'y a pas de contrepouvoir, le seul contrepouvoir c'est le pouvoir de la société civile et il y a un contrepouvoir invisible, les difficultés économiques de ce pays. Sans oublier l'UGTT. Bien sûr, c'est la colonne vertébrale de l'opposition au régime. Il y a fort à parier que l'opposition va se restructurer autour de l'UGTT, qui aura à jouer un double-rôle, un rôle politique national qu'elle a toujours joué, et puis son rôle naturel de fer de lance de la défense de la classe ouvrière ou du pouvoir d'achat des Tunisiens. Et quelle sera la part, la place, de l'islam dans ce nouveau système ? Saïed vient de remettre en question l'identité politico-religieuse ou théologico-politique de la Tunisie, donc voilà le second danger, outre la concentration pharaonique de la totalité des pouvoirs entre les mains de Saïed, la tentation quasi religieuse qui pointe à l'horizon et donc voilà pourquoi la situation en Tunisie est à la fois extrêmement précaire et dangereuse. Certains spécialistes disent que ce référendum signe l'échec, la mort des acquis de la révolution tunisienne, quel est votre avis ? Je pense que c'est là ce qu'on appelle un retour en arrière, Saïed met un coup d'arrêt à la transition, et on peut dire qu'il ferme la parenthèse de la révolution avec l'abrogation de cette Constitution de 2014, il ouvre une nouvelle ère de pouvoir autoritaire, une dictature aménagée avec des poches de résistance et des espaces de liberté, voilà. Il y a des gens qui n'hésitent pas à comparer le régime issu de cette nouvelle Constitution à celui de Ben Ali, qu'en pensez-vous ? Saïed fait ce qu'a fait Ben Ali, mais il le constitutionnalise, voilà.

The Lady Landlords Podcast
How to Raise Rents effectively: The Binder Method with Dion McNeely

The Lady Landlords Podcast

Play Episode Listen Later Jul 26, 2022 48:49


In this episode, Lady Landlords Founder, Becky Nova, interviews Dion McNeely on The Binder Method, a effective strategy for having a tenant ask you to raise rent! Learn more about Dion here. Apply to work with Becky Nova here.

CBS This Morning - News on the Go
7/26: Massive wildfires fueled by hot, dry conditions in the western half of the U.S. Pope Francis delivered a historic apology to Indigenous people.

CBS This Morning - News on the Go

Play Episode Listen Later Jul 26, 2022 14:43


Historic heat and drought fuel wildfires that are wiping out homes and neighborhoods in terrifying infernos and forcing thousands to flee. Travelers take cover as a woman opens fire at Dallas' love field airport. The suspect was the only person hurt. Protesters demonstrated at the Indiana statehouse as lawmakers gathered to consider a bill that would ban nearly all abortions. Former President Trump is heading back to Washington, for the first time since leaving office. The former president's son-in-law, Jared Kushner, has revealed he was secretly battling cancer during his time in the White House. Housing prices are soaring nationwide. In Florida, Tampa has seen the largest spike in the country -- nearly 36% since last year. Rents there are up about 22% from last year. On his first full day in Canada, Pope Francis delivered a historic apology for the quote "evil committed by so many christians" against Indigenous people.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

The Property Planner, Buyer and Professor
#163: Predictions for 2022 revisited - Which predictions are on track, where we went wrong, revised expectations & forecasts. Half yearly report on capital cities, regional locations, the top performers & what do we expect in the back half of the

The Property Planner, Buyer and Professor

Play Episode Listen Later Jul 25, 2022 53:05


https://propertyplanning.com.au/propertyplannerbuyerprofessor/In this week's episode Dave, Cate and Pete take you through:Market update1. Pick your advisors wisely!Cate shares a recent experience of working as a Buyer's Advocate for a friend. The moral of the story? When you're working with a professional, if you know their work and you trust them, you can get a great outcome, because speed and swift decision making is everything.2. How will the unemployment rate impact rate rises?The latest figures from the ABS show that unemployment has dropped to 3.5%. This has caused quite the stir, with economists now expecting rates to rise by 0.50% next month, maybe even 0.75%. David cautions that the RBA shouldn't move too hard too fast on rate increases, but it is looking increasingly unlikely that the RBA will move by 25 basis points only. It will be interesting to see what actually occurs next week…3. Rents playing catch upIncreasing rents have been the talk of the town, with rents recently going up significantly. Pete shares some interesting data which highlights that in the last 10 years, rents have not kept up with inflation despite the dramatic increases. How will this inform future policy decisions from the Minister for Housing? We will have to wait and see.Updated predictions for 20221. A look in the rear view mirror at the first half of 2022The trio revisit the predictions they made at the beginning of the year. Were they on the money or did they miss the mark? Tune in to find out!2. What will the property market do in 2022?What capital growth rates can we expect around the nation this year? The trio review their predictions and lay their predictions down for the rest of 2022.3. Which capital cities will be the top performers?The trio look into the crystal ball, pour over the data and explain which capitals are expected to top the charts this year. But remember, property is not an asset class that lends itself to short-term investing. The important thing is to plan and strategise for the long-term.4. How will regional locations fare?Regional locations have again outperformed capital cities in the first half of 2022. But will that continue?5. Will investors jump back into the marketInvestors have shown strong increases in activity over 2021 but only a slight increase in the first 5 months of 2022. Is this trend likely to continue? The trio share their insights.6. Will APRA intervene in the property market?The RBA has done all the heavy lifting with increasing interest rates, meaning that APRA hasn't had to intervene to temper the market. But will the government search for ways to intervene to keep rental prices lower and tempt first home buyers back into the market?7. Developers and buildingResidential construction costs continue to climb and builders are flat out with projects, exacerbated by labour shortages, materials shortage and supply chain delays. How long will costs continue to remain high and what impact will this have on the property market?8. The outlook for interest rates?The trio share their predictions for future cash rate rises by the RBA and at what point they each think will the rate rises end.9. Rental market forecastsRents have continued to climb and vacancy rates have tightened. The trio discuss the outlook for rental markets for the rest of 2022.10. Sales volumesAfter a record breaking year in 2021, sales volumes have lost pace and have trended back towards the five-year average. What does the future have in store? Tune in to find out!11. Risks which could impact the property marketThe trio discuss potential risks on the horizon which could impact the property market this year.12. Where is inflation heading?When will inflation peak and what will cause the slow down? The trio discuss and lay their predictions down.Visit the show notes - https://propertyplanning.com.au/predictions-for-2022-revisited-which-predictions-are-on-track-where-we-went-wrong-revised-expectations-forecasts-half-yearly-report-on-capital-cities-regional-locations-the/

The LA Report
Is our healthcare system prepared for a monkeypox outbreak? Plus: Dealing with rising rents, Newsom's mental health proposal, and more – The Sunday Edition

The LA Report

Play Episode Listen Later Jul 24, 2022 25:09


In this Sunday edition: Is our healthcare system prepared for a monkeypox outbreak? We'll hear from one man who spent days trying to get a diagnosis. Then, inflation is driving up the prices of everything – including rent. We'll find out how tenants are dealing with increases in their already high rates… Plus: Governor Newsom is proposing a new framework that would help people living with mental illnesses find treatment. But critics say it's too coercive… This program is made possible in part by the Corporation for Public Broadcasting, a private corporation funded by the American people. Support the show: https://laist.com

RNZ: Checkpoint
Tenants speak up on cold, damp houses with high rents

RNZ: Checkpoint

Play Episode Listen Later Jul 20, 2022 5:34


Compliance with healthy homes standards is still lagging, more than two years since the law took effect. All boarding houses and private landlords now need to ensure their rental properties meet healthy homes standards within 90 days of any new or renewed tenancies. Checkpoint heard from a lot of renters who say their places still are not up to scratch.  

Heartland POD
High Country - July 20, 2022 - Politics and Government News from the American West

Heartland POD

Play Episode Listen Later Jul 20, 2022 12:59


AZ GOP Governor primary a dead heat as early voting starts | Home care workers call for Bill of Rights at the Colorado State Capitol | Biden Administration advances plan for oil transport trains through Glenwood Canyon | Extreme gun rights group sues town of Superior over common sense reforms | Rents out of reach for huge numbers of working-class Nevada residents | US Sen Catherine Cortez Masto blasts GOP for criminalizing reproductive health care https://heartlandpod.com/Twitter: @TheHeartlandPOD"Change The Conversation"

Génération Do It Yourself
[EXTRAIT] - Augustin Paluel-Marmont différencie les différents paramètres du succès et partage quelques bonnes habitudes de gouvernance d'entreprise.

Génération Do It Yourself

Play Episode Listen Later Jul 17, 2022 8:57


CATS Roundtable
Suzzane Miller - Record-high rents in the City. Strong market for homes.

CATS Roundtable

Play Episode Listen Later Jul 17, 2022 4:51


Suzzane Miller - Record-high rents in the City. Strong market for homes. by John Catsimatidis

Day Trading Academy
July 17: New York Prepares Nuclear Bomb New York Rents Explodes, Inflation Erupts 9.1% (Recap ep184)

Day Trading Academy

Play Episode Listen Later Jul 17, 2022 24:06


In today's recap, Marcello talks about a recent video from NYC Emergency Management that shares important steps for New Yorkers to follow in case a nuclear attack occurs; rent in New York skyrockets; and inflation keeps rising to new levels. Founders of bankrupt crypto hedge fund 3AC have gone missing, as investors try to recoup assets. Lawyers representing 3AC's creditors say the location of Zhu Su& Kyle Davies are currently unknown. The court filing from Friday also alleges that the founders have [...] The post July 17: New York Prepares Nuclear Bomb New York Rents Explodes, Inflation Erupts 9.1% (Recap ep184) appeared first on Investing & Day Trading Education: Day Trading Academy.

How to Scale Commercial Real Estate
How Busy Doctors Can Invest in Real Estate

How to Scale Commercial Real Estate

Play Episode Listen Later Jul 17, 2022 17:00


In today's episode, we are joined by Harry Nima Zeggara, MD. Dr. Harry graduated from the Universidad Peruana Cayetano Heredia Facultad De Medicina Alberto Hurtado in 2003. He specializes in Critical Care Medicine, Internal Medicine, Pulmonary Critical Care, and Pulmonary Disease. Being a busy doctor it didn't stop him from investing and pursuing a career in real estate, Now Harry and his wife are involved in commercial and multifamily apartment complexes syndications and helping other physicians invest in real estate. Highlights:   [00:00 - 05:43] Opening Segment Harry Nima Zegarra is a Peruvian physician and real estate investor who helps other doctors invest passively in real estate. Harry started investing about five to six years ago when they moved to Dallas Fort Worth and started acquiring single-family homes long term rentals. They then transitioned into commercial real estate after finding it difficult to manage their single-family homes. Now they are involved in multifamily apartment complexes, and syndications.   [05:43 - 10:59] How to invest in real estate as a physician Harry joined a mentorship group here in Dallas, which gave him the confidence to be open and share his ideas with others. He adds that it's very important to have references when investing in real estate. He shares that it was easier for him as he was a physician, which gives a good network of people who can help him invest in real estate. Bringing on other physicians is important because they can help spread the word about real estate and help educate others about the benefits of investing.   [10:59 - 16:21] Harry's Story: Taking Action, Building a Portfolio and Positioning It for the Future Harry shares that he and his wife were looking for a house to live in when they moved to Richmond, Virginia for fellowship. After 3 years they sold the property and were happy that the value appreciated and moved to Texas. In south Texas, they bought a piece of land to build a home on but later changed their plans and sold the land With that experiences, it gave them the idea to do real estate.  They are now based in Dallas and own a large multi-family portfolio   [16:22 - 16:59] Closing Segment Reach out to Harry Links Below Final Words     Tweetable Quotes ”In some areas, there's a discrepancy between areas, where the people are moving in and out. We see this discrepancy and for now, we're assuming that it's going to continue to grow, but it is very important to do our underwriting, to not expect that explosive growth in the next couple of years. And that's the way that you should be doing a conservative underwriting.”- Harry Nima Zegarra   ----------------------------------------------------------------------------- Connect with Harry Nima Zegarra by visiting their website www.nimaeuity.com You may also follow and watch their videos on youtube     Connect with me:   Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below:   [00:00:35] Sam Wilson: Harry Nima Zegarra is a Peruvian physician, entrepreneur, and real estate investor. He helps other doctors invest passively in real estate. Harry, welcome to the  [00:00:45] Harry Nima Zegarra: show.  [00:00:47] Harry Nima Zegarra: Hey Sam. , Thank you so much for having me today in  [00:00:49] Sam Wilson: your show. Pleasure's mine, Harry. There's three questions. I ask every guest who comes in the show in 90 seconds or less. [00:00:54] Sam Wilson: Can you tell me, where did you start? Where are you now? And how did you get. .  [00:00:57] Harry Nima Zegarra: Yes, absolutely. We started about five to six years ago when we moved to Dallas Fort Worth. We have been here in the us, like for 10 years already, but we were moving every two, three years. So, we were very interested in real estate and, When we arrived to Dallas, , we decided to start investing initially in single family homes, , long term rentals. [00:01:16] Harry Nima Zegarra: And then after, a couple of years , three years or so, we were getting like already a couple of, , units under our belt and it was more and more difficult to manage. So we continue our education around that time. And, We decided to jump into, commercial real estate, which is where we are now. [00:01:31] Harry Nima Zegarra: So commercial real estate, mainly, apartment complex syndications where we, work together with other, sponsors experience and sponsors. And, we buy apartment complexes , with the help of our investors. And, , how did we get there with a lot of effort, a lot of time education. Networking. [00:01:50] Harry Nima Zegarra: And , and I always say at the end, , taking action, right? Be because all the prior ones like, are like, are important. If at the end you don't take action and you don't get anywhere  [00:01:58] Sam Wilson: at the end. Now you're a full time physician still though, right? Yes. That's correct. [00:02:03] Sam Wilson: That's correct how did you find that time to educate yourself and to then take that plunge into bigger assets? What was the. thing, when you said, Hey, I'm gonna set aside X so I can do Y tell us about that. .  [00:02:15] Harry Nima Zegarra: Yes. Yes. And, , I can tell you, I mean, it's not easy, but you just have to be intentional, right? [00:02:20] Harry Nima Zegarra: So you just have to find the time to do it. I'm a full-time physician. My wife is also a physician and she was working also full-time until just recently until November. you can imagine like both. With the full-time jobs and with two kids six and 10 years old and doing real estate at the same time, it was not easy task , but yeah, I mean, like I like, like again, we found something that we were very interested that we had a passion for it and we decided to  [00:02:46] Sam Wilson: go for it. [00:02:47] Sam Wilson: How many single family homes did you guys have before? You said, man, this just isn't working.  [00:02:51] Harry Nima Zegarra: So we have nine units in the Dallas Fort-Worth area. And which is where we live right now. So we started five years ago or so. And we started acquiring every couple of months until we reached the ninth  [00:03:02] Sam Wilson: property. [00:03:03] Sam Wilson: And what was the turning point when you said, man, I just, I can't do this. There's gotta be a better way.  [00:03:08] Harry Nima Zegarra: Yeah. Yeah. And don't get me wrong. I mean, we were doing good. I mean, I mean, actually, and that was the reason we were growing so fast and like the thing is that again, like the more single family homes or units, you have the more difficult it's to manage, even with that property manager. [00:03:22] Harry Nima Zegarra: And I was mentioned this and every single decision all the responsibilities and liabilities. Specifically on you, right? And we found ourselves like every single week, like talking with our property manager about like small and big problems that we could have in every single unit. [00:03:40] Sam Wilson: Yeah. Yeah, absolutely. So talk to us about that transition then to multi-family. How did you get involved in your first deal and what would you suggest to somebody else maybe in your same position.  [00:03:51] Harry Nima Zegarra: Yes. Yes. so We found ourself already with nine units and it was difficult to manage. [00:03:56] Harry Nima Zegarra: It was taking out like already a lot of our time. And we found ourselves that we were not able to scale that quickly. And we always hear the stories about people who invest in single family homes that at some point in their fifties or sixties, they're already with 80 units or 100 units and they don't know what to do with them. [00:04:13] Harry Nima Zegarra: and then As need, like to unload them like very quickly or like a discount. So we decided to continue our education at that point. Like again was like about four, two years ago. and start going, to, to meetups, to conferences, to to listen to audio books. So I live like about half an hour from where I work in downtown Dallas. [00:04:30] Harry Nima Zegarra: So, so that helped me like to. To listen to podcast like yours to listen to Audi books. And again I just continued that education and it brought me to multi-family apartment complexes now,  [00:04:42] Sam Wilson: apartments syndications. I know you, you said this early on was that you have found great sponsors to work alongside. [00:04:49] Sam Wilson: If somebody wanted to go out today and they said, Hey, I wanna find a good sponsor in the multi-family syndication business. I mean, there's a lot to choose from. How did you select the people that you had ultimately ended up working right alongside.  [00:05:02] Harry Nima Zegarra: Yeah. And that's very important, right? Because multifamily is a team sport, am I always say I'm part of a team that, that is doing already this And the reason is because I'm a physician, I'm a full-time physician. So I wouldn't be able to do this by myself at all. Right. Because just trying to find apartments, trying to do the underwriting, trying to acquire them, trying to manage them is more than a full-time job. Right? And there's many people doing this already many people with a lot of experience that many people who are doing this for many. [00:05:33] Harry Nima Zegarra: So I would do be doing this service to my investor or the people who are trusting me in trying just to do this myself. So I was able to partner out with different sponsors. Like initially I actually joined like a mentorship group here in like in Dallas forward. And that gave me like, again That I became very comfortable in being like in a group, like with a abandon mindset, right. [00:05:56] Harry Nima Zegarra: So, and we know each other and we know each other for some time already. And we share like our underwriting and we share our notes and all of that. So it's very important. Always like to know who you're working with to ask for references to ask for, again, like prior projects, good and bad experiences. [00:06:14] Harry Nima Zegarra: Right. Because again we will know from people like when they tell you about the great experiences and great, like the return on investment, but it's more important, like to know when they have had a problem and how they managed it. That's,  [00:06:26] Sam Wilson: that's exactly right. It remind me of us saying my dad always told us. [00:06:29] Sam Wilson: He said, it's not, if you'll have problems, it's what you do when you have 'em. So, yes. Finding out that information I think is is really helpful with your sponsor. So you found a good sponsorship group and what was it that you were able to bring to the table? That they said, Hey, here's a way that you can plug in with this Harry. [00:06:45] Sam Wilson: We'd love to have you on board. What did you bring to that general partnership that made it valuable for everyone?  [00:06:53] Harry Nima Zegarra: Yes. And this happens to, I believe to everyone who starts in real estate or specifically multifamily we, we start in the space, very excited and we think we can do everything. We want to learn everything. [00:07:04] Harry Nima Zegarra: right. And and at some point we need to be honest with ourselves, right? And we need to find. The best thing that suits us and the and the field that we are stronger at. Right. So, I'm a physician. I have a good network of of people who have seen me in real estate already for a couple of years, have family, friends colleagues people in like the medical field. [00:07:24] Harry Nima Zegarra: So, they, they were looking at me when I was doing already single family homes and long-term rentals. So when I told them like that I was switching into multi-family, they were on. And they were there to support us and the.  [00:07:36] Sam Wilson: Got it. That's that's really cool. Let's transition this conversation maybe a little bit, and we'll talk about what it's like to bring on other physicians. [00:07:44] Sam Wilson: I know you said here that there in your bio that you spend it sounds like quite a bit of time helping other physicians passively invest in real estate. What have you built either? Either? I guess, tell us your process for how you bring a physician on maybe that doesn't know anything about real estate and you educate them such that they then feel comfortable investing in real estate with you. [00:08:02] Harry Nima Zegarra: Yes. And we start from the fact that again, like you invest in what you're familiar with, right? Like in what you feel comfortable with. So most of us in the US, like in even in professions we're only familiar with stocks with the mutual funds with stock market. Right. [00:08:18] Harry Nima Zegarra: And that's the way we invest, but we don't know that there are other. Alternative ways to invest and maybe even safer, and maybe even where you have more ways like to take advantage of that. So what what is important is again many physicians like us, they. [00:08:32] Harry Nima Zegarra: They work very hard. They go through a long process of training, but at the end of their careers, they don't have enough financial education again and we try to help them and to bridge that gap, like in terms of just showing to them that the others ways to invest, right? [00:08:46] Harry Nima Zegarra: And again they don't necessarily need to invest like in syndications but again they may be like interested in being more active, again, like in single family houses, we're doing something different. It's just again, like to have the options for them. Right,  [00:08:58] Sam Wilson: right. And so how do you, I guess, how do you approach that conversation with your colleagues? [00:09:02] Sam Wilson: Is it something where they just come to you and say, Hey Harry, I hear you're investing in real estate. I'd love to learn more.  [00:09:06] Harry Nima Zegarra: Yes. Yes. They, so again, like we're working towards our financial independence and that's how we approach this conversation with many of our partners, right? [00:09:15] Harry Nima Zegarra: So you would think again, as physicians, high earners we have a very comfortable life and we get good income. However, we get taxed very high. So, so, so that's one of the problems that we all have. Right. And also we're kind of trapped like again, We depend on one stream of income. [00:09:32] Harry Nima Zegarra: Right. Which is our work. If something happens to us, we would be in, in serious trouble. So, so that's why I sometimes with we talk or discuss about these things about what would happen if something would have happened to me for example during the pandemic, right? So I would be in serious travel because I don't have any other source of income. [00:09:50] Harry Nima Zegarra: So that's, when you start thinking about that you need to start investing somewhere else other than the stock.  [00:09:56] Sam Wilson: Right. Yeah. Assets that produce an income is is something we talk about quite a bit. And I think it's even becoming more relevant, today we're working exactly on what June 14th. [00:10:06] Sam Wilson: And we've just watched here recently, the blood bath and the stock market and, oh, you know what, yes I want to buy things that, that no matter what the stock market is doing, it continues to produce an income. And I think that's. That's a really key point that I hadn't really thought about, and when it comes, for those of us who are in the business, yeah. [00:10:24] Sam Wilson: I've got multiple sources of income, but as a physician or as a high income earner, there's. There's a single new one single source, right? Yeah. Getting that diverse diverse income stream is is certainly a need that it sounds like you're solving that's really cool. I love that. [00:10:37] Sam Wilson: Tell us your story. A little bit of coming to from Peru then coming to the, becoming a doctor in the United States and then investing in real estate. Was it what was that journey like?  [00:10:47] Harry Nima Zegarra: That was, that was very interesting. so, so we came here to the states, my, my wife and I about 15 years ago. [00:10:54] Harry Nima Zegarra: So we, we both are from Peru. We both did our medic, our medical school over there. Wow. So we were actually friends for seven to eight years. Until we decided to come here to the us, we started dating and then we got married. And so we came here we did our training again, like we were in different states because of the nature of our training. [00:11:12] Harry Nima Zegarra: We were in Pennsylvania. We were in Virginia for the followship. And then we end up like in south Texas, initially in a private practice set up like for a couple of years. And after that we decided to came to to, to Dallas and finally to settle here. So we were always in interested in real estate. [00:11:29] Harry Nima Zegarra: And actually one of our first encounters with real estate was like when I was, when we were moving to, to Richmond, Virginia for my fellowship. So we, it was around 2011 and we needed like to find a place to leave. Right. And we didn't want to rent initially. So we decided to buy like a small townhouse. [00:11:46] Harry Nima Zegarra: It like, it was a short sale actually. So , and we didn't know anything about short sales in that moment. So we thought it was like actually a short process, but actually it was a long process and like a very long process. There's nothing short about a short sale. Yes. Exactly. So, and at the end of the three years, we decided to sell that property and we were very nicely, so surprised that it had appreciated. [00:12:07] Harry Nima Zegarra: Very good. And then like in, in south Texas, we we, at some point we were planning like to stay in that area. So we decided to buy a piece of land to make, to maybe to build a home there. But at the end, we changed our plants and we came to Dallas and we, when we were selling that piece of land, it also had appreciated like a good amount [00:12:25] Harry Nima Zegarra: So we were really primed, like to get started in real estate when we decided to come and settle here in  [00:12:29] Sam Wilson: Dallas. And I think that's the thing that you said early on is that for you, one of your keys has been just taking action. It's finding a way it's finding the time. It's, it is no excuses approach to getting it done. [00:12:43] Sam Wilson: Like you set your sites and then you go and do it. So I think that's a really compelling story, for a lot of people they think they feel overwhelmed, it's gosh, where do I start? How do I start? They see all the obstacles as opposed to the opportunity. And I always love the story of where people come to the United States. [00:12:58] Sam Wilson: They work hard, they figure out how to get it done. And I think that's it's always a good reminder that it's still possible even today. So that's awesome. Absolutely. Thanks for, thank you for sharing that one last question here for you before we sign off, what are some risks that you may see in multifamily or in real estate in general right now? [00:13:18] Sam Wilson: And then what are you doing to maybe position your portfolio in such a way that you maybe don't take the shock that some other people maybe some risk other people may be taking on. So you see any risks right now in the commercial real estate space?  [00:13:30] Harry Nima Zegarra: Yes. Yes. I mean, we have seen just lately, like the hike, the rates for everything, right? [00:13:35] Harry Nima Zegarra: Like for residential, but also for commercial real estate. I mean, actually it has hit more in the residential space. It's very funny that again, which means that people see more risk in the residential than in co. Commercial is more again like resistant, right? So, I mean, we see that these rates may continue to continue going higher. [00:13:54] Harry Nima Zegarra: Right? So like the thing that we need to make sure is to do a very conservative underwriting. Like again, and what means a conservative underwriting is to do what we call a stress test and putting ourself in the worst case scenario, right? Like in terms of the rates in terms of occupancy, in terms of the cup rates that until now in the last five or 10 years, they have been great. [00:14:15] Harry Nima Zegarra: And they have helped so most of us like to get great returns for our investors, but again, like we need to be more more. More into this, like analyzing all these deals now, like again that you need to look for your investors in this sense.  [00:14:29] Sam Wilson: Right, right. Yeah, absolutely. Absolutely. Do you think here's a subjective question. [00:14:35] Sam Wilson: Do you think rent rates will continue to climb? Have they reached a peak? Where are we when it comes to, and again, obviously this is very location specific, so. This is a general question, but we've seen just enormous rental growth rate in the multi-family market. Where's it going?  [00:14:53] Harry Nima Zegarra: Yes. It's very difficult to see in this moment. [00:14:55] Harry Nima Zegarra: And the thing is that again, like they have been raising with inflation too, right? And also with the salaries too, it like, in some areas there's discrepancy like, like between like where the areas, where the people is moving in and and where the people are moving out. [00:15:09] Harry Nima Zegarra: like again, we see this discrepancy and for now we're assuming that it's cont it's gonna to continue to grow, but it is very important to doing our underwriting, to not expect that explosive grow like in the next couple of years. And that's the way that you should be doing a conservative underwriting, right? [00:15:26] Sam Wilson: Yeah. I think that's key, over time, I think no matter what we will. Rents continue to climb, but I think, potentially it sounds like you, you're saying we should be underwriting little to no rent growth just to be conservative.  [00:15:37] Harry Nima Zegarra: Yes. Or like in the three to 4% at most. [00:15:40] Sam Wilson: Right, right. Very cool. Harry, thank you for taking the time to come on the show today and really just tell us your story, how you got started in real estate. What you've done to build your portfolio from single family into a large multi-family portfolio. The get it done. Um, just take action attitude and where, and how that has brought you to today. [00:15:59] Sam Wilson: So certainly appreciate it. Love your story and love your enthusiasm for real estate and what you're doing. Is there anything else you'd love to share with our listeners here before we sign off?  [00:16:07] Harry Nima Zegarra: no Sam again, thanks so much for having your show. I really appreciate this. And I re enjoy our conversation. [00:16:12] Sam Wilson: Absolutely. Harry, if our listeners wanna get in touch with you or learn more about you, what is the best way to do that?  [00:16:17] Harry Nima Zegarra: Yes, they can always reach us our website which is Nima equity.com. NEA is N as in Nancy I M A .com like we also have a Youtube channel where we have a free education about multifamily real estate investment. [00:16:31] Harry Nima Zegarra: Awesome,  [00:16:31] Sam Wilson: Harry, thank you again. Appreciate it. Have a great rest of your day.  [00:16:34] Harry Nima Zegarra: Thank you, Sam.

Len Berman and Michael Riedel In The Morning
Hour 4 Alice Stockton Rossini on the street talking to New Yorkers about high rents

Len Berman and Michael Riedel In The Morning

Play Episode Listen Later Jul 15, 2022 33:45


Most people Alice talked to were not surprised that the average rent in NYC is over $5,000, a new high for the city.

Daily News Brief
Daily News Brief for Thursday, July 14th, 2022

Daily News Brief

Play Episode Listen Later Jul 14, 2022 16:51


Happy Friday Jr. everyone, this is Garrison Hardie stepping in for ya boy, the Chocolate Knox, for Thursday, July 14th, 2022. Before we take a dive into the news, lets talk about our conference! FLF Conference Plug: Folks, our upcoming Fight Laugh Feast Conference is just about 3-months away from happening in Knoxville TN, October 6-8! Don't miss beer & psalms, our amazing lineup of speakers which includes George Gilder, Jared Longshore, Pastor Wilson, Dr. Ben Merkle, Pastor Toby, and we can’t say yet…also dont miss our awesome vendors, meeting new friends, and stuff for the kids too…like jumpy castles and accidental infant baptisms! Also, did you know, you can save money, by signing up for a Club Membership. So, go to FightLaughFeast.com and sign up for a club membership and then register for the conference with that club discount. We can’t wait to fellowship, sing Psalms, and celebrate God’s goodness in Knoxville October 6-8. Now as we talk about heading into our conference in October, that’s heading into the winter time right? Reformation Day, Thanksgiving, Christmas… to me, that’s just really the best time of year. Getting to spend time with your family, the weather is getting colder, (as a ginger that’s great), and we get to celebrate the birth of our savior, Jesus Christ. Well, not if our government has any say over it!!! https://unherd.com/thepost/brace-for-winter-lockdowns/ Brace for winter lockdowns This is from Unherd.com. Many of those who opposed lockdowns for the pandemic, predicted that the policy — if normalised — could one day be taken advantage of by opportunistic political forces to deal with almost any crisis. It was, as Lord Sumption once suggested, a potential pathway to authoritarianism. “If we confer despotic powers on government to deal with perils, which are an ordinary feature of human existence, we will end up doing it most or all of the time,” he wrote in November 2021. Well, we are now facing just such a crisis. And there is a not insignificant chance that lockdowns might be revived, not just as a knee-jerk reaction to cope with a prevailing health crisis, but also, troublingly, an economic one. The monkeypox health scare may have failed to get traction, but as Covid cases begin to rise again, the slow beat of pro-lockdown messaging is beginning to circle again in the mainstream media. For now, the public remains far from receptive. But this could change as soon as energy shortages and supply chain issues begin to bite this winter, which they surely will. The public has already been primed to believe that lockdowns were great for generating energy savings. We saw the evidence of that with our own eyes. Traffic jams disappeared. Oil prices went negative. Air pollution reversed. In the face of late Soviet-style chaos on the streets, unconstrained inflation, not enough electricity to heat the homes of the vulnerable, the prospect of order emanating from the “temporary” suspension of a market economy might seem appealing. It’s even easy to predict the messaging that might feel compelling: ‘Stay Home. Don’t queue. Save Energy.’ Or, ‘Bread and energy is cheap if you stay home!’ But here is why we must not fall for this line of logic. Planned economies are what got us into this mess to begin with. Covid, the war in Ukraine and sanctions against Russia may have all added accelerants to the fire, but the smoulders were burning ever since the 2008 global financial crisis nearly brought down the system. It’s just that the consequences of papering over the flaws in the system rather than properly addressing them only became visible in late 2021. It took 70 years for the communist system to fall apart under the weight of its own capital misallocation. We’ve managed to achieve it in about 14 years. At the heart of the problem is the poorly thought-out subsidisation of negative-sum business models propelled by excessive cheap money in the system. In the communist period, this sort of misdirection was the fault of state bureaucrats who had no idea about what people really wanted. This time it’s been driven by deep-pocketed Western venture capitalists who became convinced that outsized rents from monopoly interests could compensate for short-term non-profitability. That’s not to say the market economy is perfect or free of its own negative externalities. It definitely needs political guidance and a moral backbone to stay on course. But locking people down is not the answer. This only addresses the symptoms, not the cause. Our best path out of this mess is to keep the system as free as possible so that the people themselves can innovate their way out of trouble. Necessity, as they say, is the mother of invention. Allowing human ingenuity to thrive in a free system is our best chance to solve our economic woes. Wow… terrifying stuff. This is what CrossPolitic has been arguing for all along by the way, and maybe that’s a reason why we’ve been banned from Youtube time after time… also, this is another good reason to come to our conference by the way! Our topic seems pretty in line with the story no? https://www.mirror.co.uk/news/world-news/who-chief-urges-bring-back-27470930 WHO chief urges 'bring back face masks' as Covid pandemic 'nowhere near over' The World Health Organisation is urging governments to reinstate Covid measures like masking and ventilation as its leader speaks of concerns over an “increasing trend of deaths”. As the British government, along with many others of wealthy countries, have all but abandoned coronavirus restrictions, the WHO director-general Dr Tedros Adhanom Ghebreyesus has said the pandemic is “nowhere near over”. It comes as new ONS figures have today showed that more than 200,000 people in the UK have had Covid-19 recorded on their death certificate since the pandemic began. Infections and hospital admissions are once again on the rise, driven by the coronavirus subvariant Omicron BA.2. Experts have warned that new variants can re-infect even those with some form of antibody immunity, in a matter of weeks. Amid a spike in Covid transmission and increasing hospitalisations, Dr Ghebreyesus urged governments to “deploy tried and tested measures like masking, improved ventilation and test and treat protocols”. "I am concerned that cases of Covid-19 continue to rise - putting further pressure on stretched health systems and health workers," he said. One of the more concerning variants and subvariants being tracked by the WHO was BA.2.75, nicknamed the centaurus. Scientists believe the Covid strain, which was first discovered in May in India, may be able to spread rapidly and infect people regardless of immunity from vaccines and antibodies. Governments were now facing several “interlinked” challenges around their response to coronavirus, Dr Ghebreyesus said, including the Omicron sub-variants and reduced testing and sequencing. He went on to explain that there was a disconnect in Covid-19 risk perception between scientific communities, political leaders and the general public. Another challenge was communicating risk and building community trust in health tools, as well as public health social measures like masking, distancing and ventilation, he said. The pandemic was “nowhere near over”, he said, adding that we were in a better position than at the beginning of the pandemic to push back. While progress had been made in the form of tools preventing hospitalisations and deaths, these should not be taken for granted. Dr Ghebreyesus urged governments to regularly review and adjust their Covid-19 response plans based on changing situations. The idea of restrictions being brought back in the UK was raised on Tuesday if an increase in cases worsens the backlog facing the NHS. The WHO’s warning came just days after a SAGE advisor blasted the Tories for failing to take the urgent action needed to stop huge numbers of hospitalisations and unnecessary deaths. Britain could grind to a standstill as Covid-19 cases surge - but the government’s policy is to ‘shut your eyes and let it rip,’ Susan Michie has warned. Moving on, and back to our bad economy, https://www.yahoo.com/now/rents-us-rise-fastest-pace-161957394.html Rents in US Rise at Fastest Pace Since 1986, Buoying Inflation (Bloomberg) -- Rents rose in the US last month at the fastest pace since 1986, helping to propel overall inflation to a fresh four-decade high. An index measuring rent of a primary residence was 0.8% higher in June than the month before, an acceleration from the 0.6% increase recorded in May, according to the Labor Department’s report on consumer prices published Wednesday. In the 12 months through June, rents were up 5.8% Those costs are soaring across the country as would-be homebuyers get priced out by the fastest-rising mortgage rates in decades and slide back into the overcrowded rental market. But rent growth may be peaking as affordability concerns mount, and a surge in construction of new units is poised to start adding to the available inventory. The Labor Department measure tends to lag behind other estimates, so it is likely that rent increases will contribute to rising inflation in the consumer price index through the rest of this year, according to Mark Zandi, chief economist of Moody’s Analytics. “The big increase in CPI rents is catch-up with the consistent double-digit growth in market rents,” Zandi said. “The good news is that market rents appear to be topping out, as renters are not able to afford the higher rents and are balking. More rental supply is also coming, although this will take a year or two to have a meaningful impact on market rents.” Nearly 836,000 multifamily units are under construction, the most since 1973, according to Jay Parsons, chief economist at RealPage. But most new construction targets higher-income tenants and not the lower end, where supply shortages are most extreme, he said. Rents, along with a category known as owners’ equivalent rent that often moves in tandem, account for more than 30% of the consumer price index, giving them outsize weight in overall inflation trends. Given the close ties between rents and wages, the accelerating pace of increases will keep Federal Reserve officials on an aggressive tightening path. Average hourly earnings for production and nonsupervisory workers rose 6.4% in the 12 months through June and have generally outpaced rents since the pandemic began -- a reversal of the trend that prevailed throughout much of the economic expansion of the 2010s. But the gap has narrowed in recent months as increases in earnings have moderated and rental inflation has accelerated. You know, our economy may be weak, but you don’t want your children’s education to be weak either do you? That’s why you need to talk to our sponsors, Classical Conversations. Classical Conversations supports homeschooling parents by cultivating the love of learning through a Christian worldview in fellowship with other families. We provide a classical Christ-centered curriculum, local like-minded communities across the United States and in several countries, and we train parents who are striving to be great classical educators in the home. For more information and to get connected, please visit our website at ClassicalConversations.com. Again that’s ClassicalConversations.com. Before we go, it’s time for the topic that I love… sports! https://www.yahoo.com/news/lebron-james-says-brittney-griner-175538850.html LeBron James says Brittney Griner should question returning to United States NBA star LeBron James questioned if WNBA star Brittney Griner should return to the United States whenever she is released from her incarceration in Russia. The Los Angeles Lakers star made the comment about the Phoenix Mercury star in a trailer for his show, The Shop, which is scheduled to air on Friday on Uninterrupted's YouTube channel. "Now, how can she feel like America has her back?" James said. "I would be feeling like, 'Do I even want to go back to America?'" James later took to Twitter to clarify his comments. "My comments on 'The Shop' regarding Brittney Griner wasn’t knocking our beautiful country," he tweeted. "I was simply saying how she’s probably feeling emotionally along with so many other emotions, thoughts, etc inside that cage she’s been in for over 100+ days! Long story short #BringHerHome" This isn't the first time James has commented on Griner's situation. In June, he demanded action from Joe Biden and Kamala Harris to bring Griner back to the United States, although now he apparently wonders if she should come back to the U.S. "We need to come together and help do whatever we possibly can to bring BG home quickly and safely!!" James posted on Twitter. "Our voice as athletes is stronger together." Griner has been detained since Feb. 17 after vaping cartridges containing oil derived from cannabis were allegedly found in her luggage while going through an airport outside of Moscow. Interestingly, Phoenix Mercury coach Vanessa Nygaard recently wondered if Griner's situation in Russia would be resolved already if it were James, not Griner that was detained. "If it was LeBron, he'd be home, right?" Nygaard asked. "It's a statement about the value of women. It's a statement about the value of a black person. It's a statement about the value of a gay person. All of those things. We know it, and so that's what hurts a little more." Wait a minute, wait a minute… what is a woman? Is Nygaard a biologist? Here’s the deal, I don’t want Griner to rot in a Russain jail, despite her hateful and uneducated view of America, or the fact that she’s rejecting God’s natural law for marriage, or the fact that she thinks she could beat DeMarcus Cousins in a game of 1-on-1… you get the idea. Keeping image bearers of God in cages is wrong and wicked, and we need to get back to a Biblical form of justice… so here’s hoping she’s out soon. This has been your CrossPolitic Daily News Brief. If you liked the show, hit that share button for me would ya? If you want to sign up for our conference, a magazine subscription, or become a club member… you can do all of that at fightlaughfeast.com! And as always, if you’d like to become a corporate partner of CrossPolitic, let’s talk. Email me, at garrison@fightlaughfeast.com. For CrossPolitic News, I’m Garrison Hardie. Have a great day, and Lord bless.

CrossPolitic Studios
Daily News Brief for Thursday, July 14th, 2022 [Daily News Brief]

CrossPolitic Studios

Play Episode Listen Later Jul 14, 2022 16:51


Happy Friday Jr. everyone, this is Garrison Hardie stepping in for ya boy, the Chocolate Knox, for Thursday, July 14th, 2022. Before we take a dive into the news, lets talk about our conference! FLF Conference Plug: Folks, our upcoming Fight Laugh Feast Conference is just about 3-months away from happening in Knoxville TN, October 6-8! Don't miss beer & psalms, our amazing lineup of speakers which includes George Gilder, Jared Longshore, Pastor Wilson, Dr. Ben Merkle, Pastor Toby, and we can’t say yet…also dont miss our awesome vendors, meeting new friends, and stuff for the kids too…like jumpy castles and accidental infant baptisms! Also, did you know, you can save money, by signing up for a Club Membership. So, go to FightLaughFeast.com and sign up for a club membership and then register for the conference with that club discount. We can’t wait to fellowship, sing Psalms, and celebrate God’s goodness in Knoxville October 6-8. Now as we talk about heading into our conference in October, that’s heading into the winter time right? Reformation Day, Thanksgiving, Christmas… to me, that’s just really the best time of year. Getting to spend time with your family, the weather is getting colder, (as a ginger that’s great), and we get to celebrate the birth of our savior, Jesus Christ. Well, not if our government has any say over it!!! https://unherd.com/thepost/brace-for-winter-lockdowns/ Brace for winter lockdowns This is from Unherd.com. Many of those who opposed lockdowns for the pandemic, predicted that the policy — if normalised — could one day be taken advantage of by opportunistic political forces to deal with almost any crisis. It was, as Lord Sumption once suggested, a potential pathway to authoritarianism. “If we confer despotic powers on government to deal with perils, which are an ordinary feature of human existence, we will end up doing it most or all of the time,” he wrote in November 2021. Well, we are now facing just such a crisis. And there is a not insignificant chance that lockdowns might be revived, not just as a knee-jerk reaction to cope with a prevailing health crisis, but also, troublingly, an economic one. The monkeypox health scare may have failed to get traction, but as Covid cases begin to rise again, the slow beat of pro-lockdown messaging is beginning to circle again in the mainstream media. For now, the public remains far from receptive. But this could change as soon as energy shortages and supply chain issues begin to bite this winter, which they surely will. The public has already been primed to believe that lockdowns were great for generating energy savings. We saw the evidence of that with our own eyes. Traffic jams disappeared. Oil prices went negative. Air pollution reversed. In the face of late Soviet-style chaos on the streets, unconstrained inflation, not enough electricity to heat the homes of the vulnerable, the prospect of order emanating from the “temporary” suspension of a market economy might seem appealing. It’s even easy to predict the messaging that might feel compelling: ‘Stay Home. Don’t queue. Save Energy.’ Or, ‘Bread and energy is cheap if you stay home!’ But here is why we must not fall for this line of logic. Planned economies are what got us into this mess to begin with. Covid, the war in Ukraine and sanctions against Russia may have all added accelerants to the fire, but the smoulders were burning ever since the 2008 global financial crisis nearly brought down the system. It’s just that the consequences of papering over the flaws in the system rather than properly addressing them only became visible in late 2021. It took 70 years for the communist system to fall apart under the weight of its own capital misallocation. We’ve managed to achieve it in about 14 years. At the heart of the problem is the poorly thought-out subsidisation of negative-sum business models propelled by excessive cheap money in the system. In the communist period, this sort of misdirection was the fault of state bureaucrats who had no idea about what people really wanted. This time it’s been driven by deep-pocketed Western venture capitalists who became convinced that outsized rents from monopoly interests could compensate for short-term non-profitability. That’s not to say the market economy is perfect or free of its own negative externalities. It definitely needs political guidance and a moral backbone to stay on course. But locking people down is not the answer. This only addresses the symptoms, not the cause. Our best path out of this mess is to keep the system as free as possible so that the people themselves can innovate their way out of trouble. Necessity, as they say, is the mother of invention. Allowing human ingenuity to thrive in a free system is our best chance to solve our economic woes. Wow… terrifying stuff. This is what CrossPolitic has been arguing for all along by the way, and maybe that’s a reason why we’ve been banned from Youtube time after time… also, this is another good reason to come to our conference by the way! Our topic seems pretty in line with the story no? https://www.mirror.co.uk/news/world-news/who-chief-urges-bring-back-27470930 WHO chief urges 'bring back face masks' as Covid pandemic 'nowhere near over' The World Health Organisation is urging governments to reinstate Covid measures like masking and ventilation as its leader speaks of concerns over an “increasing trend of deaths”. As the British government, along with many others of wealthy countries, have all but abandoned coronavirus restrictions, the WHO director-general Dr Tedros Adhanom Ghebreyesus has said the pandemic is “nowhere near over”. It comes as new ONS figures have today showed that more than 200,000 people in the UK have had Covid-19 recorded on their death certificate since the pandemic began. Infections and hospital admissions are once again on the rise, driven by the coronavirus subvariant Omicron BA.2. Experts have warned that new variants can re-infect even those with some form of antibody immunity, in a matter of weeks. Amid a spike in Covid transmission and increasing hospitalisations, Dr Ghebreyesus urged governments to “deploy tried and tested measures like masking, improved ventilation and test and treat protocols”. "I am concerned that cases of Covid-19 continue to rise - putting further pressure on stretched health systems and health workers," he said. One of the more concerning variants and subvariants being tracked by the WHO was BA.2.75, nicknamed the centaurus. Scientists believe the Covid strain, which was first discovered in May in India, may be able to spread rapidly and infect people regardless of immunity from vaccines and antibodies. Governments were now facing several “interlinked” challenges around their response to coronavirus, Dr Ghebreyesus said, including the Omicron sub-variants and reduced testing and sequencing. He went on to explain that there was a disconnect in Covid-19 risk perception between scientific communities, political leaders and the general public. Another challenge was communicating risk and building community trust in health tools, as well as public health social measures like masking, distancing and ventilation, he said. The pandemic was “nowhere near over”, he said, adding that we were in a better position than at the beginning of the pandemic to push back. While progress had been made in the form of tools preventing hospitalisations and deaths, these should not be taken for granted. Dr Ghebreyesus urged governments to regularly review and adjust their Covid-19 response plans based on changing situations. The idea of restrictions being brought back in the UK was raised on Tuesday if an increase in cases worsens the backlog facing the NHS. The WHO’s warning came just days after a SAGE advisor blasted the Tories for failing to take the urgent action needed to stop huge numbers of hospitalisations and unnecessary deaths. Britain could grind to a standstill as Covid-19 cases surge - but the government’s policy is to ‘shut your eyes and let it rip,’ Susan Michie has warned. Moving on, and back to our bad economy, https://www.yahoo.com/now/rents-us-rise-fastest-pace-161957394.html Rents in US Rise at Fastest Pace Since 1986, Buoying Inflation (Bloomberg) -- Rents rose in the US last month at the fastest pace since 1986, helping to propel overall inflation to a fresh four-decade high. An index measuring rent of a primary residence was 0.8% higher in June than the month before, an acceleration from the 0.6% increase recorded in May, according to the Labor Department’s report on consumer prices published Wednesday. In the 12 months through June, rents were up 5.8% Those costs are soaring across the country as would-be homebuyers get priced out by the fastest-rising mortgage rates in decades and slide back into the overcrowded rental market. But rent growth may be peaking as affordability concerns mount, and a surge in construction of new units is poised to start adding to the available inventory. The Labor Department measure tends to lag behind other estimates, so it is likely that rent increases will contribute to rising inflation in the consumer price index through the rest of this year, according to Mark Zandi, chief economist of Moody’s Analytics. “The big increase in CPI rents is catch-up with the consistent double-digit growth in market rents,” Zandi said. “The good news is that market rents appear to be topping out, as renters are not able to afford the higher rents and are balking. More rental supply is also coming, although this will take a year or two to have a meaningful impact on market rents.” Nearly 836,000 multifamily units are under construction, the most since 1973, according to Jay Parsons, chief economist at RealPage. But most new construction targets higher-income tenants and not the lower end, where supply shortages are most extreme, he said. Rents, along with a category known as owners’ equivalent rent that often moves in tandem, account for more than 30% of the consumer price index, giving them outsize weight in overall inflation trends. Given the close ties between rents and wages, the accelerating pace of increases will keep Federal Reserve officials on an aggressive tightening path. Average hourly earnings for production and nonsupervisory workers rose 6.4% in the 12 months through June and have generally outpaced rents since the pandemic began -- a reversal of the trend that prevailed throughout much of the economic expansion of the 2010s. But the gap has narrowed in recent months as increases in earnings have moderated and rental inflation has accelerated. You know, our economy may be weak, but you don’t want your children’s education to be weak either do you? That’s why you need to talk to our sponsors, Classical Conversations. Classical Conversations supports homeschooling parents by cultivating the love of learning through a Christian worldview in fellowship with other families. We provide a classical Christ-centered curriculum, local like-minded communities across the United States and in several countries, and we train parents who are striving to be great classical educators in the home. For more information and to get connected, please visit our website at ClassicalConversations.com. Again that’s ClassicalConversations.com. Before we go, it’s time for the topic that I love… sports! https://www.yahoo.com/news/lebron-james-says-brittney-griner-175538850.html LeBron James says Brittney Griner should question returning to United States NBA star LeBron James questioned if WNBA star Brittney Griner should return to the United States whenever she is released from her incarceration in Russia. The Los Angeles Lakers star made the comment about the Phoenix Mercury star in a trailer for his show, The Shop, which is scheduled to air on Friday on Uninterrupted's YouTube channel. "Now, how can she feel like America has her back?" James said. "I would be feeling like, 'Do I even want to go back to America?'" James later took to Twitter to clarify his comments. "My comments on 'The Shop' regarding Brittney Griner wasn’t knocking our beautiful country," he tweeted. "I was simply saying how she’s probably feeling emotionally along with so many other emotions, thoughts, etc inside that cage she’s been in for over 100+ days! Long story short #BringHerHome" This isn't the first time James has commented on Griner's situation. In June, he demanded action from Joe Biden and Kamala Harris to bring Griner back to the United States, although now he apparently wonders if she should come back to the U.S. "We need to come together and help do whatever we possibly can to bring BG home quickly and safely!!" James posted on Twitter. "Our voice as athletes is stronger together." Griner has been detained since Feb. 17 after vaping cartridges containing oil derived from cannabis were allegedly found in her luggage while going through an airport outside of Moscow. Interestingly, Phoenix Mercury coach Vanessa Nygaard recently wondered if Griner's situation in Russia would be resolved already if it were James, not Griner that was detained. "If it was LeBron, he'd be home, right?" Nygaard asked. "It's a statement about the value of women. It's a statement about the value of a black person. It's a statement about the value of a gay person. All of those things. We know it, and so that's what hurts a little more." Wait a minute, wait a minute… what is a woman? Is Nygaard a biologist? Here’s the deal, I don’t want Griner to rot in a Russain jail, despite her hateful and uneducated view of America, or the fact that she’s rejecting God’s natural law for marriage, or the fact that she thinks she could beat DeMarcus Cousins in a game of 1-on-1… you get the idea. Keeping image bearers of God in cages is wrong and wicked, and we need to get back to a Biblical form of justice… so here’s hoping she’s out soon. This has been your CrossPolitic Daily News Brief. If you liked the show, hit that share button for me would ya? If you want to sign up for our conference, a magazine subscription, or become a club member… you can do all of that at fightlaughfeast.com! And as always, if you’d like to become a corporate partner of CrossPolitic, let’s talk. Email me, at garrison@fightlaughfeast.com. For CrossPolitic News, I’m Garrison Hardie. Have a great day, and Lord bless.

Creating Wealth Real Estate Investing with Jason Hartman
1868: Staggering Year-Over-Year Increases are Destroying the Middle Class - Rent Inflation, Travel and Auto Loan Industry Troubles

Creating Wealth Real Estate Investing with Jason Hartman

Play Episode Listen Later Jul 13, 2022 37:35


There have been staggering price increases around the country in the last year in many sectors. Jason Hartman gives you the latest year over year numbers on rents, hotels and auto loans. The increases are staggering! In just one American city, rents have increased 40.8% in just one year! It's truly shocking to see rents go up that quickly, but if you take a quick look around the world, it's even worse. When a housing market correction eventually happens, it will put upward pressure on rents. That's the beauty of income property. Other asset classes such as the stock market, don't have the great multi dimensional characteristics we have with income property. As economic times change, the middle class is continuing to be hollowed out and things that were considered normal will soon be luxuries for many people. The destruction of the middle class has been underway for decades and it's coming to a real inflection point. Traveling, buying your own house and having your own car will be a thing of the past for many.  So, what's the moral of the story for today?  If there's a big economic recession, you've got to have financial self defense. As you've heard Jason and others say before: don't wait to buy real estate, buy real estate and then wait. Income property is the most historically proven asset class in the world. Mortgages are still below the rate of official inflation and dramatically below the rate of real inflation. You're getting paid to borrow money and you're automatically getting inflation induced debt destruction. Go to JasonHartman.com and let Jason and his team assist you in your investing journey! Key Takeaways: 0:00 Welcome to The Creating Wealth Show Episode 1868  1:00 Those who do not learn from history are doomed to repeat it 2:51 Massive government deficits  5:01 Reagan, the debt ceiling and inflation 7:56 The Federal Reserve was created when no one was paying attention 8:55 Increase your credit lines at www.jasonhartman.com/fund and protect your assets at www.jasonhartman.com/protect 10:38 Take advantage of inflation induced debt destruction 11:31 Rents are high now, but will go higher 15:31 Rents are much more expensive around the world 19:38 Inflation is worse around the world 21:55 Subprime crisis in the auto loan industry 23:29 Other asset classes don't have the multi dimensional characteristics of income property 25:11 The government wants to push us into mass transit or into electric cars 28:48 If there is a recession, you've got to have financial self defense 30:42 As economic times change, the middle class is being hollowed out 34:44 Don't wait to buy real estate, buy real estate and then wait  35:20 Learn more at www.jasonhartman.com   Follow Jason on TWITTER, INSTAGRAM & LINKEDIN Twitter.com/JasonHartmanROI Instagram.com/jasonhartman1/ Linkedin.com/in/jasonhartmaninvestor/ Learn More: JasonHartman.com Get wholesale real estate deals for investment or build a great business – Free course: JasonHartman.com/Deals Free White Paper on The Hartman Comparison Index™: HartmanIndex.com/white-paper Free Report on Pandemic Investing: PandemicInvesting.com Jason's TV Clips in Vimeo Free Class: CYA Protect Your Assets, Save Taxes & Estate Planning: JasonHartman.com/Protect Special Offer from Ron LeGrand: JasonHartman.com/Ron What do Jason's clients say? JasonHartmanTestimonials.com Contact our Investment Counselors at: www.JasonHartman.com Watch, subscribe and comment on Jason's videos on his official YouTube channel: YouTube.com/c/JasonHartmanRealEstate/videos Guided Visualization for Investors: JasonHartman.com/visualization Jason's videos in his other sites: JasonHartman.com/Rumble JasonHartman.com/Bitchute JasonHartman.com/Odysee Jason Hartman's Extra YouTube Channel Jason Hartman's Real Estate News and Technology (RENT) YouTube Channel

Markets & Mortgages
Ep. 189 | Rents Show Signs of Cooling

Markets & Mortgages

Play Episode Listen Later Jul 13, 2022 22:00


SUMMARY: Asking rents slow to the lowest year-over-year increase since October, high housing prices could keep inflation data elevated, and Jonathan Levin argues limited supply might not save home prices...Sources:Asking Rent Slows in JuneHousing Could Keep Inflation ElevatedJOHNATHAN LEVIN: Housing Inventories May Not Save Prices After All

KNX All Local
String of robberies at 7-Eleven stores leave 2 men dead--Victims of Anti-Asian hate crime say they can't get justice--Rents are rising faster than originally thought

KNX All Local

Play Episode Listen Later Jul 12, 2022 6:22


Highlights from Newstalk Breakfast

Rents should be limited to a maximum of a quarter of the median monthly household income. That's according to a new bill which is being launched by People Before Profit this week which would also see the establishment of a National Rent Authority to oversee the new proposal and other rental matters. Richard Boyd Barrett People Before Profit Housing Spokesperson and TD for Dun Laoghaire and Pat Davitt CEO of the Institute of Professional Auctioneers & Valuers spoke to Shane on the show this morning.

One Rental At A Time
The Government has Created a HUGE PROBLEM IN THE RENTAL MARKET, RENTS ARE NOW TOO HIGH

One Rental At A Time

Play Episode Listen Later Jul 9, 2022 16:21


*NEW ITEM!* Purchase my newest book! "15 Conversations with Real Estate Millionaires" https://amzn.to/3CGOWOU

The Higher Standard
Rents Rise and How Chris Bought His House

The Higher Standard

Play Episode Listen Later Jul 8, 2022 45:33


In today's episode of The Higher Standard, Chris offers up opinions and insights on the rise of rent across the country and some thoughts on the purchase of his own home. In this episode you'll discover: - The strategy Chris used to purchase his home for three and a half percent down. - Why the rising costs of buying a home have created an increase in rental prices across the board. - Why he believes we're in an 'affordability crisis.' This is a show you do not want to miss! Join Chris for this fascinating conversation. Enjoy! What You'll Learn in this Show: The strategy Chris used to purchase his home for three and a half percent down. Why the rising costs of buying a home have created an increase in rental prices across the board. Why he believes we are in an 'affordability crisis.' And so much more...

San Diego News Fix
Rents on single-family homes in San Diego are on the rise

San Diego News Fix

Play Episode Listen Later Jul 6, 2022 8:40


If you're priced out of buying a home in San Diego, there's more bad news: Rents on single-family homes are going up, too. In the past year, rents have risen 10 percent, and the median for a three-bedroom house in San Diego is $3,400 a month. Union-Tribune real estate reporter Phillip Molnar has more.

CATS Roundtable
Suzzane Miller - Rents are skyrocketing while home sales have cooled.

CATS Roundtable

Play Episode Listen Later Jul 2, 2022 4:37


Suzzane Miller - Rents are skyrocketing while home sales have cooled. by John Catsimatidis

MoneyWise on Oneplace.com
To Buy or Not to Buy (A House)

MoneyWise on Oneplace.com

Play Episode Listen Later Jul 2, 2022 25:16


Before making the biggest financial decision of your life, it's a good idea to get all the facts. What's that decision? For most people it'll be whether to buy a house. Today on MoneyWise, we'll discuss the facts you need to know to make the right decision. After the housing crash of 2008, when we saw home values plummet and stay low for several years, many experts advised people to not look at their home as an investment, but simply as a place to live. That perhaps gave comfort to some, but it certainly didn't help anyone who needed to sell their home, whether due to a job transfer or the inability to make the payments. They were stuck. So while it's easy to say that a home isn't an investment, it sure has a lot of the same characteristics. You're putting money into it like an investment. And in the case of a home purchase, a LOT of money. Also, like an investment, you never want to see the market value of your home decline, because if you have to sell, you'll be taking a loss. TO BUY OR NOT TO BUY Of course, the housing market today is red hot, even though it's beginning to show signs of moderation. Would be home buyers are still faced with a tough decision: to buy or not to buy and just keep renting. The Wall Street Journal did an analysis of the current market to answer that question, and the most obvious finding was that anyone buying a home today will have to wait a good deal longer for the investment to pay off. That means buying a home today is not just more expensive, it's also more dangerous because the time needed to break even is significantly extended. To determine the length of time for breaking even, the analysis compared the cost of buying a home to the cost of renting a similar home. Both of those numbers have shot up since the pandemic hit. Rents across the country have risen sharply, but the price of homes has gone up even more. The cost of renting a single-family home went up over 13% in February compared to last year, but home prices increased 20% in March over a year ago. So, in the Wall Street Journal analysis, the break even point is where the cost of owning a home matched the cost of renting the home over the same period. It found that in Austin, Texas, an extremely hot market, you'd need to stay in the home 5.6 years before reaching break even. That's assuming a 10% down payment with a 30-year, fixed-rate mortgage at 5%. That's a huge jump over the 3.7 years it took before the pandemic. And again, those break even times are based on a comparison to the cost of renting a similar home in the same market. Of course, the results vary by market. In Miami, the cost of renting has outstripped the rise in home prices, so the time needed to break even actually decreased a bit to 2.3 years. Well, the upshot of all this is that if you buy a home now and have to sell, you'll be in for a big loss. Let's go back to that home in Austin, Texas with the 5.6-year span of time needed to break even. The analysis showed that if you sell the property after 3 years, you'll lose $30,000 over what you'd have paid to rent over the same period. Why is that the case? Because of all the added costs of home ownership like closing costs, private mortgage insurance, property taxes and maintenance. Those expenses would be greater than the estimated appreciation on the home's value. Now, I'm not saying you shouldn't buy a home in today's market. But you should know what you're up against. Two things will help make sure you don't lose money. First, don't buy unless you have 20% of the home value saved up for a down payment. That eliminates private mortgage insurance. Second, don't buy unless you are reasonably sure you'll be in the home 5 years from now. Those two factors should give you enough equity to at least break even if you have to sell. On today's program, Rob also answers listener questions: ● How can you set up a special needs trust ● How do you determine whether you're taking unnecessary risk in your investment portfolio? ● What should you do about a joint credit card account when your spouse passes away? ● What do you do if you find a credit card account on your credit report that you don't recognize? RESOURCES MENTIONED: ● Annualcreditreport.com Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to Questions@MoneyWise.org. Also, visit our website at MoneyWise.org where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app. To support this ministry financially, visit: https://www.oneplace.com/donate/1085/29

The Buzz
Real estate, rents continue to climb as housing crunch continues

The Buzz

Play Episode Listen Later Jul 1, 2022 28:57


Real Estate Strategies with Ken McElroy
What did rents do during the last recession?

Real Estate Strategies with Ken McElroy

Play Episode Listen Later Jun 28, 2022 61:43 Very Popular


What did rents do during the last recession? Ken and danille break down how a downturn in real estate values may not translate into a downturn in rental amounts.Want to ask Ken a question or have him look over a deal? Sign up for Ken's Inner Circle: https://kensinnercircle.comKen has a real estate strategies podcast! Follow on your favorite platform for new discussions released weekly.Apple Podcasts: https://apple.co/3jDqftxSpotify: https://spoti.fi/31GUDwWWebsite: https://bit.ly/2DaIoPH• • •Be sure to click the bell to be notified as soon as the next informational video is posted!Visit Ken's Bookstore: https://kenmcelroy.com/books/•ABOUT KEN:Ken is the author of the bestselling books The ABC's of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABC's of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.    Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you're a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.Ken's company: https://mccompanies.com/• DISCLAIMERS: Any information or advice available on this channel is intended for educational and general guidance only. Ken McElroy and KenMcElroy.com, LLC shall not be liable for any direct, incidental, consequential, indirect, or punitive damages arising out of access to or use of any of the content available on this channel. Consult a financial advisor or other wealth management professional before you make investments of any kind. Although Ken McElroy and his affiliates take all reasonable care to ensure that the contents of this channel are accurate and up-to-date, all information contained on it is provided ‘as is.'Ken McElroy makes no warranties or representations of any kind concerning the accuracy or suitability of the information contained on this channel. Any links to other websites are provided only as a convenience and KenMcElroy.com, LLC encourages you to read the privacy statements of any third-party websites.All comments will be reviewed by the KenMcElroy.com staff and may be deleted if deemed inappropriate. Comments which are off-topic, offensive or promotional will not be posted. The comments/posts are from members of the public and do not necessarily reflect the views of Ken McElroy and his affiliates.  2022 KenMcElroy.com, LLC. All Rights Reserved.Link to the opening countdown song: https://artlist.io/song/64365/all-the-way-up#kenmcelroy rentalproperties #realestateinvesting

Learn Real Estate Investing | Lifestyles Unlimited
(June 28, 2022) Rents & Raises

Learn Real Estate Investing | Lifestyles Unlimited

Play Episode Listen Later Jun 28, 2022 37:10


Inflation is increasing prices everywhere including rental rates and the costs associated with operating rental properties. Easing fears about the affordability of quality rental housing, Al Gordon shares statistical information about the correlation of rising rents and resident incomes. Click to Listen Now

Financial Survival Network
Commercial Real Estate is Imploding - Sam Liebman #5543

Financial Survival Network

Play Episode Listen Later Jun 28, 2022 30:27


Summary: New York Times bestselling author Sam Liebman sits down and chats with me about real estate; specifically, the we discuss the valuation of office buildings, which is rapidly decreasing. This is largely attributed to the pandemic. Many tenants stopped paying rent, and Sam predicts that valuation of office buildings will soon be lower than mortgage. With less people going back to work, this sector of real estate is looking barren. Tune in for more information. Highlights: -Interest rates have gone through the roof -The real problem is the technology regarding the effects on office buildings and retail -You don't have to live in the city to do business in the city anymore -Manhattan office buildings are only 40% occupied—which is terrible for the valuation of real estate -During the pandemic, tenants were not paying rent -Soon, valuation will be lower than mortgage -We are probably going to see an avalanche of foreclosures. -Rents are going up, but so are operating expenses (i.e. insurance) -Governance has fallen victim to politics -Remote work is still very attractive to people considering employment options -Florida wants to cap the amount you can increase rents to 15% -If Florida doesn't have an income tax, where is the money going to come from to build? It needs more infrastructure Useful Links: Financial Survival Network Sam Liebman

The Real Word
Bidding Wars Have Driven Up Rents THIS MUCH | The Real Word Episode 228

The Real Word

Play Episode Listen Later Jun 28, 2022 24:34


Renters join the bidding war, the housing market impacts global commerce, and content creators cash in on Zillow listings. Byron and Nicole discuss. Tomo will close 98% of loans on time - the industry average is just 40% Learn More Here :arrow_right: https://bit.ly/TryTomopod Subscribe to this channel: https://www.youtube.com/channel/UCnIX... Subscribe to BAM Newsletter: http://eepurl.com/hZU-Vn Connect with Byron: Website: https://byronlazine.com Instagram: https://www.instagram.com/byronlazine Twitter: https://www.twitter.com/ByronLazine TikTok: https://www.tiktok.com/@byronlazine 5AM Call Sign-up: https://www.5amcall.com Newsletter here: https://byronlazine.com/subscribe Connect with Nicole White: https://www.instagram.com/nicolewhite... This episode's sources: “Bidding Wars Overheated the Home-Buyer Market, Now They're Coming for Renters” (WSJ) “The Housing Market Slowdown is Showing Up in Shipping Data From China” (CNBC) “Don't Fear the Content Creators: Why Zillow Gone Wild Isn't Bad for Agents” (Inman) #realestatepodcast #rentalmarket #realestatepodcast TIMESTAMPS 00:00 - 00:41 00:42 BIDDING WARS ARE HEADING FOR RENTERS NEXT 07:48 NEW DATA = HOUSING MARKET SLOWDOWN 17:37 DO NOT FEAR THE CONTENT CREATORS

CYBER
Raising Rents at a Landlord Convention

CYBER

Play Episode Listen Later Jun 23, 2022 42:30 Very Popular


What do landlords talk about behind closed doors, among other landlords? Motherboard staff writer and Cyber host Matthew Gault attended in St. Louis recently. Landlords traded gossip, talked about raising rents, and tried to sell each on books and online classes. Outside of the convention, rents hit record medians, the COVID moratorium is ending, and a lot of tenants simply can't afford to put a roof over their head.On this week's episode of Cyber, Motherboard editor-in-chief Jason Koebler interviews Matthew about what it's like to attend the 21st Annual Mr. Landlord.com National Landlord Convention.Stories discussed on this episode:Among the LandlordsWhere People Pretend to Be 'Landchads' and Make Fun of 'Rentoids'We're recording CYBER live on Twitch. Watch live during the week. Follow us there to get alerts when we go live. We take questions from the audience and yours might just end up on the show.Subscribe to CYBER on Apple Podcasts or wherever you listen to your podcasts. See acast.com/privacy for privacy and opt-out information.

Real Estate Espresso
What Should I Do?

Real Estate Espresso

Play Episode Listen Later Jun 21, 2022 5:30


On today's show we're talking about a question that is on everyone's mind. Construction prices are rising. Interest rates are rising. Not only are rates rising, but it looks like lender liquidity is shrinking. Rents are rising, but who knows for how long? Salaries are rising for now, but could flatten or even decline if we experience an economic downturn. Will that apartment project be affordable when it's completed in two years from now? An economic recession seems all but certain. The question is, how do you underwrite a project in these market conditions when so many of the critical variables seem to be so uncertain? I just came back from the 20th annual Investor Summit on Sand and these questions and more were the topic of seemingly every conversation whether it was over breakfast, or dinner, or late at night. Almost all of the 282 attendees are trying to make sense out of it. We had Danielle DiMartino Booth, who worked at the Federal Reserve Bank of Dallas for nine years provide us with an insider perspective on the most recent announcement last week from Federal Reserve Chairman Jerome Powell. If you would like to see a replay of her talk, click the link ---> https://fb.watch/dHcuFbbHe6/ -------------- Host: Victor Menasce email: podcast@victorjm.com

Get Rich Education
402: Rents Surging Faster Than Home Prices, Inflation & Interest Rates Soar, Investor Resources

Get Rich Education

Play Episode Listen Later Jun 20, 2022 42:32


For many, it's become a scary world with $5-$6 gas, soaring food prices, spiking rents, the medical system is still a mess, and wages aren't keeping up with inflation. Inflation is at a 40-year high of 8.6%. The Fed raised rates ¾%, the biggest jump in 28 years. For every $1M in real estate debt that you have, you're benefiting $86,000 each year due to your debt debasement. Affordability has become so bad for wannabe first-time home buyers that increasingly, they're becoming your renter. Many project rent growth to exceed home price growth this year. Rent.com's Rent Report shows a 26% annual rent increase nationally. Every 1% in a mortgage rate increase decreases a buyer's purchasing power by 12%. GRE's COO Aundrea Newbern, MBA joins me. We discuss our favorite RE information sources. Aundrea expects to diversify her RE portfolio into more markets. She's been focused on southeast Georgia. Some RE resources we use: www.city-data.com, US Census Bureau data, CNBC.com, HousingWire.com, FRED data, the MLS, AirDNA.co, GREmarketplace.com. When considering adding to your RE portfolio, simply talking to a Property Manager can be more valuable than the best website. Aundrea sees a balanced market at prices $250K+, and a sellers' market at prices below $250K in southeast Georgia. Days On Market (DOM), Sale-To-List Price Ratio discussed. LTRs are in high demand and low supply. STRs are saturated in many markets. Resources mentioned: Show Notes: www.GetRichEducation.com/402 Rent.com's Rent Report: https://www.rent.com/research/average-rent-price-report/ Get mortgage loans for investment property: RidgeLendingGroup.com or call 877-74-RIDGE JWB's available Florida income property: CashFlowAndGrowth.com To learn more about eQRPs: text “GRE” to 307-213-3475 or: eQRP.co By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. Make passive income with apartment and other syndications: www.imaccredited.com Best Financial Education: GetRichEducation.com Get our free, wealth-building “Don't Quit Your Daydream Letter”: www.GetRichEducation.com/Letter Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Partial transcript: Welcome to GRE! I'm your host, Keith Weinhold. There's so much to pack into one show today - inflation at its highest rate in over 40 years, the Fed raising interest rates the most in 28 years, rents are going up fast, then GRE's COO Aundrea Newbern & I on our favorite REI resources. Today, on Get Rich Education.   _______________________   Welcome to GRE! From Auckland, NZ to Oakland, CA and across 188 nations worldwide. This is Get Rich Education. I'm your host, Keith Weinhold.   Before I discuss real estate, what's happening with inflation & interest rates is so exceptional that I want to cover this first.   When the latest inflation reading came in at 8.6%, it dashed hopes that it's peaked. We have no evidence that it's peaked.   And as I like to say, that 8.6% is just the level that the government is willing to admit to. It's really higher.   It's the third month in a row that it has exceeded 8%.   Treasury Secretary Janet "Grandma" Yellen has already warned of what she calls "unacceptable levels of inflation".   And Yellen looks like my late Grandma Weinhold. Yeah, they look a lot alike. One difference though, is that Grandma was not wrong about inflation.    Another difference between my grandmother and Yellen is that… Janet Yellen never gave me Star Wars action figures on Christmas like my Grandma did.   Well, for many people, especially in the lower middle class, it's become a scary world with devastating $5-6 gas, soaring food prices and spiking rents. (I'll get to that shortly). The medical system is still a mess. Wages are up perhaps only 5%.   Their quality of life is really suffering now.   Libertarians point out that fiat inflation is theft of one's private property. You earned a dollar. Now your prosperity has been stolen.   Sneaky shrinkflation is stealing from you too. Yeah, you're not imagining it,    Gatorade has trimmed its 32 ounce bottles down to 28 ounces. A small box of Kleenex has shrunk from 65 tissues down to 60.    Package sizes are shrinking faster than Lake Mead, all while producers charge the same price or more. That's what shrinkflation means.   It's become an awful economic malady for consumers.   So, let's talk about higher interest rates since that's what can keep inflation from soaring.   Many interest rate types are based off of the Federal Funds Rate.   Now, I like to look at history to see what typically happens in like scenarios. History doesn't tell you everything, but many people don't look at it.   Rewinding three years, this rate was hiked up to 2.5% by early 2019… and the stock market was freaking out by then. Trump even demanded a rate cut. He got it and that, turned stocks around.   Yes, Presidents are supposed to stay independent of the Fed, but, in any case…   Just last week, the Fed Funds Rate was raised up to 1.75%... and the stock and crypto markets have already taken a swan dive off the high board.   Everyone thinks that rates are going to be raised again at the next Fed meeting next month.   So how do you think that equity markets are going to like that? History shows us that they don't.   But see, history shows us that even when the Fed Funds Rate is raised to 10%, it can take years to quell inflation.   Commodities like housing, food, and energy, often excel in either inflationary times or recessionary times.   That's where you want to be. Buy & own what people need, not what they want.   These things have a finite supply. Bringing them into existence takes "proof of work".    Proof of work means that it takes real world resources to extract or produce something—like framing roof trusses, growing timber for lumber, mining gold, extracting oil, or growing wheat.    If you held any of these commodities individually, you might merely hedge inflation.   But if you can control an entire commodity by only putting one-quarter or one-fifth of your "skin in the same", then you get to short the dollar too.   "Shorting" means that you're betting that something is going to fall in value—the dollar in this case.   Now you're creating leverage and arbitrage. You're really profiteering from inflation ehre.   Real estate is like a basket of commodities. It is made of: lumber and copper and glass and all kinds of commodities.   So, if you have $1M in real estate debt, it's now being debased at a rate of 8.6%. Great.   This effect alone has increased your prosperity by $86,000 this year—$86,000 this year alone, and that's besides appreciation, income, tax benefits, and amortization.   Yeah, you've got an $86K tailwind.   Do you remember back in 2019 when I did the podcast episode called The Debt Decamillionaire? It was Episode 260. You might remember that episode.   That's when I touted the counterintuitive merits of taking out $10M in real estate debt... with the payments outsourced to tenants.   Now, I know that not everyone has the wherewithal to do that. But if you were able to implement that plan, it has now created an extra $860,000 of annual wealth for you.   Yes, as one of just five ways you're paid.   If you think that sounds scary - or unconventional - it's definitely unconventional. Because being conventional gets one nowhere.   So, though you might have not been able to amass that much good debt, I was ahead of the inflation, helping you get out in front of it to take advantage of it. Of course, I talked about it well before 2019 too.   And, no, I sure didn't know that a pandemic was coming in 2020 and it was going to bring all this inflation this quickly… but that is how things worked out.   Now, if you're uninitiated on this, if you originate $10M in loans, understand something. Your net worth didn't just decrease by $10M on the day that you got the loan.    The day that you originate the loan, what happens is that you've now got $10M in your asset column and $10M in your debt column.   Leverage amplifies the $10M in your asset column… and then your debt column erodes through both tenant-made principal paydown - and this higher inflation.   Maybe I'm stretching your thinking just merely by discussing 8-figure debt like that.   So why is someone really compelled to be a real estate investor today?   One big reason is that soaring inflation is going to be around for a while.   So last Wednesday, when the Fed raised interest rates three-quarters of 1% - their highest daily increase since 1994.   Understand that higher interest rates decrease demand. There's another name for substantially decreased demand. That is called a recession. I don't know if we'll get that far.   Now, capitalism is not inherently inflationary.   Sure, as employers' demand for labor rises, that's inflationary.   But as businesses compete to offer goods and services at the lowest price - which is capitalism - that's deflationary.   Libertarians are quick to point out that America has too much government intervention to be considered a truly capitalist economy anymore. That's a different conversation.   But some have speculated that politicians are plotting another stimulus check drop on American citizens so that they can deal with inflation.   I really hope that they do not do that. Sheesh, this would be a policy blunder. This would be like shooting a man that's already dead.   This absurd approach of "printing up currency" would be to help people deal with the consequences of... "printing up currency".   If you think that's preposterous, well…   Quebec is actually doing this. They're issuing $500 stimulus checks to help the Canadian province's residents deal with inflation.   Yeah, that's really happening.    Soaring gas prices aren't just painful for summer road-trippers. Because fuel is a critical input for so many goods and services, higher costs are causing havoc across the economy in a lot of places that you wouldn't expect it… Aviation: Airfares in the US skyrocketed 19% in April from a month earlier, an increase that is almost exclusively driven by a jump in jet fuel prices, United CEO Scott Kirby said. Now, you might have expected that one. But get this… Law enforcement: A sheriff's department in Michigan instructed its deputies to cut back on visits for non-urgent calls because it had blasted through its fuel budget with months remaining until a new one kicks in. (Yeah, inflation affecting law enforcement!) Emergency services: An ambulance crew in Pittsburgh said it was limiting its service outside of 911 calls after facing a similar budget crunch. Its fuel expense for the full year is typically $50,000, and it's already got close to that entering June. Landscaping: Lawnmowers and trimmers use gas to make your front yard the envy of the neighborhood. But after absorbing all of the cost increases they can, some landscapers have slapped a surcharge on customers, and others are even looking into electric mowers and propane as an alternative fuel. In any case, a look at history tells us that we could be in for high inflation for a full decade.   So make financial decisions accordingly.   Risk assets are typically really sensitive to big moves in inflation and interest rates.   Major stock indices are down, down, down.   And cryptocurrencies are in an all-out historic meltdown. They're more volatile than stocks, and many have lost 50%-60%+ of their value just this year.  Crypto trading platforms have halted withdrawals Companies cut jobs Panicked investors dumped their holdings The public is finally dismissing promoters' claims of "Hey, I made $50k on doodoo coin. So you can you!". You don't really hear that lately.   Let's Go Brandon Coin, now worth $0.00. And “Let's Go Brandon” coin makes Dogecoin look like some sort of respectable family heirloom.   I actually still think bitcoin could have some potential, but…   So then where to look? Where do you go for yield today?   Some feel that the "true rate of inflation" is 15% today. Then that's how much prosperity you lose by storing cash.   (I believe it's wise to hold at least 3-5% of your real estate portfolio's value in cash.)   One place could be oil if you think there's still a runup to be had there. But oil has performed well so far this year. Gold still hasn't really awakened despite inflation.   What you can do… is…   Follow the money. Big institutional buyers like American Homes 4 Rent keep plowing money into real estate, especially single-family rental homes.   That's historically the place to be in times of either high inflation or a recession.   Though the institutional share is increasing, the overwhelming majority of homes are still bought by individuals just like you.   In the fourth quarter of 2021, institutional buyers only comprised 18% of home purchases.    As affordability clamps down on wannabe first-time homebuyers, unfortunately, many of these fine people never make it to the closing table.   Every 1% in a mortgage rate increase decreases a buyer's PP by 12%.   Mortgage interest rates are now 6%+ on OOs, about 7% on rentals. I believe that the only way houses are going to get more affordable anytime soon is if mortgage rates come down. That's because home prices aren't coming down anytime soon.   So what do these priced-out people do? Increasingly, they become your renter.    Rent price growth is predicted to outpace home price growth this year.   Though some measures are lower, Rent.com's Rent Report shows an astounding 26% annual national rent increase.   While a lot of major markets are struggling with a streak of Fed rate hikes that could drag on longer than the final two minutes of an NBA game...   ...for real estate investors, the rent just keeps flowing in.    And here's what it comes down to. Picture this. Like I've discussed before, first home prices rise, and then rents follow later.   Picture two waves. Say that these two waves are 18 months apart. The first wave is home prices. Today, prices are still climbing but the wave has likely crested.   That second wave that's coming in now are the torrid rent price increases.   The trough between the two waves is where the cash flow is worst on new purchases.   And now the second wave - that rent increase wave - is building.    That's the ah… seafaring here in the rental housing market ocean if you will.    Hey, In the past, I've discussed where I've invested and what RE types I like to own. Why don't we hear from GRE's own COO Aundrea Newbern, MBA about how she's positioning her portfolio in this environment of normalizing prices & spiking rents.  Also, she & I will discuss some of our favorite resources & websites for real estate info. That's straight ahead. I'm Keith Weinhold. You're listening to Episode 402 of Get Rich Education! __________________ Yeah, great stuff from Aundrea, as always.  We discussed markets. Of course, it's about the submarket too. As an example, maybe you don't feel like Erie, PA or Toledo, OH or Grand Rapids, MI are fast-growing markets.  Actually, I think Grand Rapids, for one, is growing, but the point is, that even if a metro has a stable population but it's, say, medical district is booming - like a lot of cities' medical districts are… you may very well be better off in an OK metro with a booming medical SUBmarket than you are elsewhere. It's often about that SUBmarket within a metro that really matters to you. There aren't too many places that you can invest & get yield today. But high inflation is the motivator to do so.  Create one login, one time, it's free & get access to all of our provider at GREmarketplace.com For everyone here… COO Aundrea Newbern, MBA, Content Manager Matthew Blunt, Producer - me &, Sound Engineer, Investment Coach Naresh Vissa, Website Marvin Diaz Jr, Advertising Jake Madoff, I'm your host Keith Weinhold.  Don't Quit Your Daydream!    

Get Rich Education
401: A Greater Depression is Ahead with Doug Casey

Get Rich Education

Play Episode Listen Later Jun 13, 2022 49:02 Very Popular


The housing market has calmed, but it's still strong. The homeownership rate of 65% is poised to fall these next few years. People must live somewhere. This should make for more renters. Mortgage delinquencies have fallen for seven straight quarters. The forbearance program kept people in their homes. “The Great Reshuffling” describes the US housing market since 2020. Inflation flips money upside-down. Focus on prudent borrowing, not saving. International Man Doug Casey joins us. He calls for a “Greater Depression” ahead. For consumers, the costs of energy, food, and housing have become crippling.  Doug thinks that the decline of world economies will continue. World cities have more people living on the streets.  He thinks that the Fed can't hike rates very high. It will result in too many debt defaults. Then how will inflation be curbed? Doug thinks you should save, but don't save in dollars. Are price controls coming? That's when the government tells companies that there's a ceiling on the price they can charge for their goods and services. We discuss what you can do to prevent being wiped out in a crisis. I discuss living well vs. austerity. Resources mentioned: Show Notes: www.GetRichEducation.com/401 More on Doug Casey: https://internationalman.com/ Current US debt level is over $30T: www.usdebtclock.org Get mortgage loans for investment property: RidgeLendingGroup.com or call 877-74-RIDGE JWB's available Florida income property: CashFlowAndGrowth.com To learn more about eQRPs: text “GRE” to 307-213-3475 or: eQRP.co By texting “GRE” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel. Make passive income with apartment and other syndications: www.imaccredited.com Best Financial Education: GetRichEducation.com Get our free, wealth-building “Don't Quit Your Daydream Letter”: www.GetRichEducation.com/Letter Our YouTube Channel: www.youtube.com/c/GetRichEducation Top Properties & Providers: GREmarketplace.com Follow us on Instagram: @getricheducation Keith's personal Instagram: @keithweinhold   Partial transcript:   Welcome to GRE! I'm your host, Keith Weinhold. While much of America & the world keeps getting crushed by inflation, you're profiting from it.   I provide you with a housing market update… then, as higher inflation reduces the quality of life for so many WORLD residents, today's guest gives both us a global and national perspective on the prospects for a DEpression, today on Get Rich Education.   __________________   Welcome to GRE! From NYC's Brooklyn Bridge to Bainbridge Island, WA and across 188 nations worldwide, I'm Keith Weinhold. This is GRE!   And it's Episode 401. Now, no, it's definitely not episode 401(k). No life deferral plans here! Uh, oh excuse me… they'e called… uh, tax deferral plans. Though life-deferral plans would be a more apropos moniker.   I'm grateful that you're here for another wealth-building week.   Now… asking an angry spouse to calm down is not exactly a tactic that's... effective.   By now, Jerome Powell has been effective at raising interest rates to help America's housing market calm down.   Though mortgage rates have inched lower in recent weeks, they're still 2% higher now than they were a year ago today.   In fact, the rate rise from early March to early May was the swiftest that I've seen in my entire life.   Rates scaled a wall. Clearly, this impacts affordability.    The rate of property sales is a little lower now… off its peak.   It's getting more Darwinian out there. The NAR estimates that 15% of wannabe first-time homebuyers will be priced out of the market this year.    People have to live somewhere. If they can't own, they'll have to rent... or keep living in their parents' basement… that's an option for some people too.   Right now, the homeownership rate is 65%... and that is pretty close to the average of the past few American generations.   I'll tell you… that 65% homeownership rate is poised to fall faster than dogecoin.    Well, what this likely falling home ownership rate means is that the renter pool should swell, putting more upward pressure on rents.   That's what happens. If home ownership goes from 65% to 60%, then America's renter proportion basically goes from 35% up to 40%.   You know how I've talked about how home prices rise first, then rent increases lag behind? Well, this is it. This is the place and time where rents catch up.   With housing prices, are we set up for a recipe of "housing crash" or is it more like "housing calm"?   Looking at purchase applications, demand is probably past its peak. But housing demand still drastically exceeds supply.    Normal housing supply is about 1.5 million units. We've come up from a jaw-dropping paucity of 376,000 homes back in February. And it's still just 516,000 now (chart).   We're only up a tad from famine-like levels.   America still needs about 300% more inventory just to bring the market back into supply-demand balance.   Housing supply is inelastic; it cannot be increased quickly. It'll take several years to reach balance.   How else can we measure this balance? One way is with days on market (DOM).   Pre-pandemic it was 45 days. Now, despite higher interest rates, it's under 30 days & under 20 days in a lot of markets.   Mortgage delinquencies have fallen for seven straight quarters. The forbearance program worked. One can critique its morality. But it kept people from losing their homes.   As the market entropy - with wild bidding wars & a “free for all”, couldn't last forever - nor was it good that that condition persist - it's still a strong housing market.    Expect a gradual return to a calmer, more normalized condition. Yes, “calmer” market conditions are poised to emerge here.   Hey, pretty soon, you might not have to offer more than the list price for a property.   Expect less competition from all-cash buyers. Sheesh, “all-cash buyers”. What are those zero-leverage psychos doing anyway?   Hey, property inspections are coming back. Imagine that you can ask a seller to fix some things for you and not fear that they'll reject your offer.   So what is the bottom line with today's housing market?   Rents should keep rising faster than historic norms.   Supply is so low that housing price crash prospects are near zero, probably even through 2023.   20%+ annual price increases still exist in many markets. Nationally, this is calming now.   By the end of the year, home price appreciation should still be higher than the historic norm of 5%.   And you know…   Back on December 1st of last year, I published GRE's 2022 National Median Housing Price Forecast and I also announced it on this show at that time that I expected a 9% to 10% rate of home price appreciation this year.   We're nearly at mid-year here, and I still like how that forecast looks.   In America, you've heard of the Great Resignation or the Great Migration but I think that the term that best encapsulates what's gone on in American housing since the start of this decade is “The Great Reshuffling”.   Working from home was a significant driver of this "Great Reshuffling" and accounted for more than half of the steep increases in home prices seen during the pandemic. That's what new research has found by the Nat'l Bureau Of Economic Research.   By now, you've got more Americans that are shuffled into place. That found that long-term home with the realities of their new life.   That's the bottom line. There is a Great Reshuffling, and now people are settling into place so we're kind of seeing this welcome “calming” of the housing market as we move toward eventually settling into more normal conditions.   Well, hey. Thank you for the “Instant Reaction” from so many of you after last week's milestone Episode 400 where Hal Elrod & I discuss how to improve relationships and be a person of value.   Greg from the United States remarked: “Two of my favorite people were together in one episode. I've been following Keith since the beginning of his podcast and journey… and I love “The Miracle Morning” and practice it habitually.   Roxana from Romania said, This was just phenomenal! A terrific talk that I listened to three times already. Thank you for all the good that you do through GRE! Congratulations for 400 episodes.”   I appreciate the remarks there, thanks.   You know, I want to hear from you, the listener.    If you've been following along here and you've acted by putting income property into your portfolio and you're now the beneficiary of inflation & you're profiting from this inflation… with the Inflation Triple Crown… from time-to-time, we like to have a listener on the show.   If that interests you, reach out to us through: GetRichEducation.com/Contact   There's no guarantee that we can get you on the show here. We have 50x as many requests to appear on the show as available slots.   But if you've had your life impacted, we want to hear from you. You don't need to be a big name.    In fact, if you're just sort of salary or wage-earning person that's had their life impacted by taking GRE principles and putting them into action, I want to hear from you.   Again, get started there at: GetRichEducation.com/Contact   Inflation flips money upside-down.   Though inflation isn't a new story, most experts believe that inflation is going to stay elevated for a longer period of time here.   I think that some people - everyday people - let themselves be coerced by inflation. So they cut back on grocery spending & complain about car gasoline prices & lament that their 401(k) is plummeting & live small and maybe even live miserable.   Then there's this increasingly popular narrative that seems to enforce that - you'll do with less & you'll be happy about it.    And you hear more about buzzy terms, like, well “Reducing your standard of living is what “sustainable” looks like. Don't you want to live sustainably?”   And people will try to conserve gasoline consumption by biking in the rain and having a muddy streak up their back.   Now, all things equal. I think that doing this for the environment can be good. That's fine.   Rather than sustainability, some try to mask the quality of life degradation (from inflation)... justifying it with… well, I'm practicing “minimalism”.    Minimalism. Yeah, I don't need to go on vacations. Translation = I'm too fearful of my financial security to even get out and see the very world that I live in.   Whoever said that less is more never had more… and why have more when you can “have it all”? I kid a little bit here…   But… if you keep your quality of life because you invested in real assets with good debt… then go ahead and recycle some more consumable items in your household if you want to help the environment.   You don't get to recycle your life. You've only got one of those… at least here on this earth.   Today's guest believes that the prospect of a Greater Depression lies ahead. Let's explore this together, today. _________________   Yeah, it's good to get the bigger-picture perspective sometimes.   Doug feels that future RE price increases could be in question. Well, even if appreciation completely stopped in the future, today you can still lock in low mortgage interest rates & rent that property to others… with persistently high inflation debasing your debt all along.   I brought up price controls in our chat today, which is when the government steps in & says something like, no, gas station, you absolutely cannot charge more than $6 per gallon for gasoline, or no, leaf lettuce grower, you cannot charge more than $4 for a one pound bunch of leaf lettuce.    That ceiling - that price control - has often led to disastrous consequences for economies.   Prices often got high in the first place because there's a relative scarcity of those goods.   Then if you put a price control on, say, leaf lettuce, then producers are less incentivized to produce. They won't produce at a loss.    When producers stop producing, then there's even less reason for anyone to produce the item, making it more scarce, making your consumer choices more narrow & making your life worse.   Price controls can turn out to be a form of austerity.    Then there's more direct austerity - which is analogous to saying that you cannot run your air conditioner below 80 degrees in order to conserve electricity.    Well, that DIRECT austerity measure also reduces your quality of life… and it's politically unpopular. A President doesn't want to institute a direct austerity measure like electricity conservation.   So a price control has more political expediency than austerity but it can have the same drastic result - reducing your consumer choice and quality of life.   If you picked up on what Doug was saying, he said that you can save. But don't save in dollars. Saving in dollars guarantees a diminishment of your purchasing power.   My take is that saving in dollars guarantees a loss in you & your family's standard of living. So the best way to avoid a “Greater Depression” at home, is to be vigilant that…   Inflation flips money upside-down. Get out of dollars. Get into real assets & debt.    We've built a resource here to help you do exactly that. Get out of dollars, get into real assets & good debt at GREmarketplace.com   You've got the best markets & proven providers of income property. Create one login one time and connect with providers right there at GREmarketplace.com   Until next week, I'm your host, Keith Weinhold. DQYD!

Thoughts on the Market
Robert Rosener: The Continued Rise in Inflation

Thoughts on the Market

Play Episode Listen Later Jun 10, 2022 3:24 Very Popular


As inflation continues to rise beyond expectations, the Fed is set to meet next week, leaving markets to wonder if an acceleration in rate hikes might be in store this summer.-----Transcript-----Welcome to Thoughts on the Market. I'm Robert Rosner, Senior U.S. Economist for Morgan Stanley Research. Along with my colleagues, bringing you a variety of perspectives, I'll be talking about this morning's inflation data and how that may impact Fed discussions at next week's FOMC meeting. It's Friday, June 10th, at 2 p.m. in New York. This morning, we received the Consumer Price Index data for May that showed a faster than anticipated increase in both headline and core inflation. Inflation continues to be lifted by high food and energy prices, and the combination of the two have pushed inflation up to a new high on a year over year basis, to. 8.6%. That rise in inflation reflects not just gains in food and energy prices, but extremely broad based increases under the surface, with core goods prices continuing to reaccelerate and core services prices also remaining strong, reflecting continued upside in travel related airfares and hotels. While other factors like rents and owners' equivalent rents both jumped. Rents in particular posted their fastest sequential month on month pace of increase since 1987. That's really impo the Fed next week because this sets a tone of inflation that remains very elevated as the Fed sits down to discuss its policy. Moreover, many, including ourselves, had been expecting that the peak for inflation on a year over year basis would have been registered back in March. But today's data showed that CPI has reached a new high on a year over year basis. That raises uncertainty about the outlook for inflation. And Fed policymakers have expressed some concern about the possibility for some underlying reacceleration in inflation. We also saw at the same time that data from the University of Michigan Survey of Consumer Sentiment showed that both short and longer term household expectations for inflation have been on the rise. So the risks around inflation remain high, and as the Fed sits down next week policymakers are likely to see inflation as remaining a top of mind topic. We have been expecting the Fed to pursue a series of 50 basis point rate hikes as the FOMC seeks to tighten financial conditions in order to slow demand and eventually slow inflation. And markets after the inflation data moved very quickly to price in an even more hawkish path for Fed policy, with some risk that a 50 basis point rate hike might not be enough and that there might be some chance that the Fed could deliver a 75 basis point rate hike at some point over the summer. We'll hear from policymakers next week as to whether or not an acceleration in the pace of rate hikes is something that they see as an attractive option. But the bottom line here is the Fed's work is far from done. Inflation remains high, incoming data suggests that growth has moderated, but has not slowed enough to feel confident that inflation is likely to follow. It's going to be a tricky summer for Fed policymakers, and a tricky summer for data watchers as well, because each incremental inflation data point is likely to inform how Fed policymakers are likely to react and what that path for rate hikes is likely to look like over the summer and into the fall. Thank you for listening. If you enjoy the show, please leave us a review on Apple Podcasts, and share Thoughts on the Market with a friend or colleague today.