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205: Squatters' Rights, Rent Caps, and Blackstone Gets Ready to Buy Apr 04, 2024

Show notes

Squatters’ rights are quickly being stripped away as more states move to end this widespread illegal occupation of private property. Blackstone predicts real estate prices to “bottom” as they gear up to go on their next homebuying shopping spree. Rent increases get capped for affordable housing, and why doesn’t the American public know about the BILLIONS of dollars in government housing subsidies? It’s another wild week in the housing market, so let’s get you up to speed.

In this Headlines Rumble show, we’re pitting the top housing market headlines against each other as we dive deep into the stories that affect real estate investors the most. First, we talk about DeSantis’ war against the squatters, as Florida becomes one of the first states to take action against squatters illegally occupying private property. Next, we discuss the $7.3 billion in housing subsidies that banks receive but AREN’T flowing into homebuyers’ pockets. So, where is all that money going?

Blackstone predicts real estate will “bottom” soon as they prepare to buy over $1 billion in single-family homes this year. If one of the most data-backed hedge funds in existence is saying now is the time to buy, should you begin searching for your next property? Finally, we’ll discuss the recent rent caps for affordable housing that are stopping landlords from increasing their rents even during times of quickly rising costs.

In This Episode We Cover

Squatters’ rights explained and why states are finally saying no to squatting

The massive homebuying subsidies that no one knows about (but should!)

Blackstone’s bet on a “bottoming” housing market and whether or not this means you should buy NOW

Affordable housing rent increase caps and why this may lead to even less affordable housing

The winning real estate market in our “Market Madness” bracket!

And So Much More!

Links from the Show

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Connect with Other Investors in the “On The Market” Forums

Market Madness: 8 Housing Markets We’d Place Big Bets on in 2024

Flip/Off: Whose House Flip Can Pull In the Biggest Return?

Articles from Today’s Show:

Squatters

Delinquency Rates

Home Renovation Costs

Housing Subsidies

Blackstone

Rent Caps

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204: Agents React to NAR Lawsuit Commission Change Apr 01, 2024

Show notes

The NAR lawsuit changed the real estate industry overnight. Just like that, buyer’s agents were no longer getting their standard three percent commission, and many investors began imagining what buying and selling homes would be like without realtors. But is this massive NAR settlement as dramatic as the headlines are making it out to be? Is there really an agent exodus on the horizon, or is this just a way for the bad agents to exit the industry quickly? We brought on a panel of top investor-friendly agents to find out.

Joining us are four agents from across the nation: Avery Carl, Craig Curelop, Juliet Lalouel, and Mike Savegnago. All of these agents are affected by the recent NAR lawsuit settlement, but they don’t seem so shaken up. For many of these agents, this lawsuit simply thinned the competition, putting the expert agents back on top while showing the less-than agents the door. Plus, after the recent deals they’ve done, they’re not too concerned about a lack of buyer’s agent fees.

Today, we’re asking each of them their thoughts on the changes to the NAR’s rules, how this will affect buying and selling homes, what this means for real estate agent commissions, and what agents should do NOW to get ahead of the game. Plus, since our agent panel is all investors as well, they give some crucial advice on finding an agent in your area that will help you build your real estate portfolio even bigger.

In This Episode We Cover:

The NAR lawsuit explained and what it means for real estate agent commissions

A “huge exit of agents” and how this could change the real estate industry forever

What to do when a seller offers you or your buyer’s agent a zero-percent commission

What real estate agents need to start doing NOW to ensure they still get paid

The key signs of an investor-friendly agent that any landlord should be looking for

Massive downsides of buying or selling without an agent (it will cost you…)

And So Much More!

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Avery's BiggerPockets Profile

Craig's BiggerPockets Profile

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Juliet's BiggerPockets Profile

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Mike's BiggerPockets Profile

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Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever

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203: Compass Settles for $57.5 Million, Inventory Jumps, Fed Talks Rate Cuts Mar 28, 2024

Show notes

Compass is the latest brokerage to settle after the recent NAR lawsuit made sweeping changes to agent commission payments. With NAR, Keller Williams, Compass, and more associations and brokerages paying out massive settlement fees and rewriting their agent agreements, could we be on the cusp of even more lawsuits to come? We’re breaking it all down in this week’s On the Market headlines episodes!

First, we’ll discuss what happened in the Fed meeting last week and whether interest rate cuts could still be coming down the line in 2024. Unsurprisingly, the Fed has forecasted even stronger economic growth than expected, but will this hold rates where they are? Next, Compass pays $57.5 million to settle their antitrust lawsuit, but even with this week’s news and last week’s NAR settlement, many top agents aren’t seeing much of a change in demand.

Redfin reports on a sizable bump in housing inventory, with the “biggest increase in nearly a year,” as more homes for sale begin hitting the market. This is great news for the housing market, but will it start to slow down sales? Finally, we discuss how much you have to make to afford a $500K home and how affordability struggles could keep many Americans renting for much longer than they anticipated.

In This Episode We Cover:

Compass’ recent agent commission lawsuit settlement and what this means for investors

The Fed’s rate cut predictions for 2024 and when we can expect rates to finally fall

Strong economic projections from the Fed that point to a successful soft landing

What the annual spring housing inventory increase could do to the market (will it even make a dent?)

Housing affordability and how much you need to make to buy a $500K home

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever

Flip/Off: Whose House Flip Can Pull In the Biggest Return?

Headlines from Today’s Episode:

Fed Meeting

Compass Settlement

Housing Inventory

How Much to Afford a $500K Home

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202: Market Madness: 8 Housing Markets We’d Place Big Bets on in 2024 Mar 25, 2024

Show notes

It’s March Madness season, so we thought we’d create a bracket of our own, pitting some of the best real estate markets against each other to see which one will win the top seed for best city to invest in 2024. Each of our expert hosts picked two real estate markets, all with a March Madness team, and share why these markets will beat out the rest in 2024. Need a new real estate investing market? You’ll find more than a few in this episode.

If you want a slam-dunk housing market with layup rental property potential and three-pointer demographic trends (population, jobs, and income growth), we’ve got you covered. We scoured the nation’s housing market data and picked some of the country's fastest-growing, most affordable, and highest rent-to-price property markets that you can start investing in now. And they’re not just good college basketball towns—almost all of the cities we list have standout rental property metrics compared to most average US cities.

Heard one of your favorite housing markets on this episode? Want to vote for the market you’re bullish on? Head over to the BiggerPockets Instagram NOW and vote for your favorite housing market for 2024; we’ll be sharing an update on the votes on a future On the Market episode!

In This Episode We Cover:

Coastal beach cities seeing MASSIVE population growth and strong appreciation potential

Kathy’s favorite Midwest market that offers affordable home prices and stable employment

A South Carolina city with well below-average home prices that even psychics predict will BOOM

An affordable market in the Northeast that hosts huge appreciation and one of the best universities in America

The “boring” southern city that’s sitting on a solid economy and cheap home prices

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

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Get a Slice at Frank Pepe’s Pizzeria Next Time You’re In New Haven

Books Mentioned in the Show

Start with Strategy by Dave Meyer

The Small and Mighty Real Estate Investor by Chad Carson

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201: Breaking: NAR Settles for $418M, Buying and Selling Homes Could Change Forever w/The New York Times’ Debra Kamin Mar 22, 2024

Show notes

A bombshell NAR settlement could bring wide-sweeping changes to the housing market. After a snowball of NAR lawsuits, the realtor association agreed to settle for a whopping $418 million and make critical changes to how real estate agent commissions are paid and how competition can be upheld. This significantly impacts anyone buying or selling a home and has life-changing effects for every real estate agent and realtor in the country. The New York Times’ Debra Kamin joins us to break the story.

Debra breaks down the enormous legal loss that NAR (National Association of Realtors) suffered last week and the impacts it will have on the housing market. First, we discuss the new agent commission rules, which may break the standard six percent fee that realtors are used to taking. These commissions are real estate agents’ livelihoods, and a new model that supports lower commissions could force many agents to leave the industry entirely.

We’ll also touch on the turbulent times NAR has faced recently, from sexual harassment scandals to changing leadership and, now, a massive settlement that could lose them more than half of their members. Will a new type of real estate agent form from the ashes of this century-old model? Or, could a brand-new way of buying and selling homes transform the housing market? Stay with us; we’ll give you the entire scoop.

In This Episode We Cover:

NAR’s massive settlement creating ripple effects across the real estate market

The new real estate agent commission rules that could shock an entire industry

Changes to the multiple listing service (MLS) that may open the market up to new competition

The future of buyer’s agents and whether or not they’ll remain a critical component to buying a home

Sexual harassment scandals, turbulent leadership, and recent NAR struggles

What the future of using a real estate agent could look like

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

The NAR Will Eliminate 6% Commission Standards and Pay $418 Million in Damages After Settling Lawsuit

Is It the End of the Realtor? Inside the NAR Crisis

New Agent Lawsuits Could Have Profound Effects for Buying and Selling Homes

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200: Flip/Off: Whose House Flip Can Pull In the Biggest Return? (Dainard vs. Washington) Mar 21, 2024

Show notes

James Dainard, a house flipper in Seattle, Washington, has been on a flipping spree for the past two decades. He’s flipped more homes than you can count, made tens of millions in the process, and has built multiple massive businesses to support his flipping fixation. In the shadows, his young(er) protégé, Henry Washington, has been learning his every move and trick of the trade. To beat the top flipper, he must…become him. Now, these once brothers-in-flipping will face each other head-to-head in the money-making competition no one asked for but we wanted to make. This is FLIP/OFF.

Welcome to the 200th episode of On the Market! *confetti pops, fireworks go off* This time, we’re doing something special. This show will be a battle of the house flippers, as Henry and James detail two recent flips they’re working on and battle against each other to see who can score the highest return. Both of these deals are almost unbelievable in how high their cash-on-cash returns are, so if you want to know how REAL money is made in real estate, this is the show to catch!

Stick around because we’ll get into every detail and number behind these deals. Plus, we’ll be giving you deal updates soon, showcasing each flip and the progress our panel is making. Vote for your favorite flip on the BiggerPockets Instagram or the On the Market YouTube channel!

In This Episode We Cover:

A house flipping competition like never before (and the punishment at stake/steak for the loser)

James’ quick flip that could turn into a HUGE return in just a matter of months

House flipping risks and how longer timelines and delayed permits can destroy your profits

Henry’s home-run house flip that could make even MORE money than James’ much more expensive home

Burst pipes, flooding, mold, mildew, and even more fun surprises from one of these flips

Our favorite On the Market episodes of all time!

And So Much More!

Links from the Show

Join the Future of Real Estate Investing with Fundrise

Connect with Other Investors in the “On The Market” Forums

Get All the Numbers from Henry’s and James’ House Flips

Our Favorite Episodes:

Homebuyers Are Getting Crushed: Are Landlords the Cause

Why NFL Players Are Buying Real Estate During the Recession

Listener Deals:

https://www.biggerpockets.com/blog/on-the-market-92?utm_source=youtube&utm_medium=description&utm_campaign=none

https://www.biggerpockets.com/blog/on-the-market-94?utm_source=youtube&utm_medium=description&utm_campaign=none

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199: New Listings “Normalize,” Inflation Ticks Up, and Airbnb Bans Indoor Cameras Mar 18, 2024

Show notes

The Fed isn’t happy, but what’s new? After inflation numbers were released last week, showing higher-than-expected consumer price growth, our rate cut dreams could be slowly dwindling. Are we still on a timeline to see lower mortgage rates by summer, or is the US economy just too strong to prompt any help for prospective homebuyers? This story, and plenty more, are coming up in this week’s headlines show.

Ever get that feeling that someone is watching you? Airbnb recently announced a new policy that banned indoor surveillance cameras in hosts’ properties. This is a shock for almost every Airbnb guest and most hosts, too, as it seems we all incorrectly assumed that security cameras were only allowed on the OUTSIDE of a property.

But this episode isn’t just about short-term rentals. We have some good news for housing inventory, as new listings finally saw a bump, helping add some homes to the already supply-strained market we’re facing. We’ll also talk about new unemployment numbers that are trending in a direction the Fed wants to see but may not be enough to convince them of a rate cut. All that, and more, in this episode.

In This Episode We Cover:

A housing supply update and the “surge” of new listings that hit the market

New jobs numbers and whether rising unemployment is something we should worry about

Why the Fed may become even more hesitant to cut rates in 2024

New inflation and CPI (Consumer Price Index) numbers (and what they mean)

Airbnb’s newest “no indoor camera” policy and what this means for anyone hosting a short-term rental

The naked man in James’ newest investment property (will he EVER get out?)

And So Much More!

Links from the Show

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Connect with Other Investors in the “On The Market” Forums

Job Growth and Unemployment

Headlines from Today’s Episode:

New Listings

CPI and Inflation

Airbnb Cameras

BiggerNews: Why Mortgage Rates AREN’T Falling

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198: Real Deals We’re Doing RIGHT NOW (Flips, Developments, and Duplexes) Mar 14, 2024

Show notes

Welcome to the “redemption year” for real estate investing. We talk a lot on this show about the real estate deals being done all across the country. From interviewing flippers to developers to agents and investors, it always seems like there’s still money to be made, no matter the market. But is that really true? Or is it a bunch of pro-property investing propaganda that “big real estate” is pushing? To prove that there are indeed real deals to be done in 2024, we’re bringing on some of OUR latest investments and walking through the ACTUAL numbers on this show!

Each of our expert hosts (including Dave!) has a real estate deal to review on today’s episode. First, we’ll touch on James’ new joint venture partnership that’s making him a hefty six-figure profit that could almost be considered passive income. This deal alone could make James over $300,000—a sum that could change anyone’s life! Then, Dave jumps back into the market as he makes his first active real estate investment in YEARS. This home has a lot of potential, so what should he do with the property?

Next, the “Kat(hy)-Signal” goes up as a growing city in Oregon pleads our own Kathy Fettke to start developing homes so local workers have a place to live. Thankfully, she picks up an astounding deal from a local farmer who doesn’t know much about developing. Finally, we’re back to good ol’ Arkansas as Henry walks through the numbers of a quick house flip that could profit him $80K. But that’s not the only sweet part of this deal. Another big benefit comes from the lot right next door. What will Henry do with it? Stick around to find out!

In This Episode We Cover:

Why NOW is the time to buy as competition is low and “walk-in equity” is high

James’ almost passive real estate investment that could make him $300K

Develop, add an ADU, or do nothing—what’s the best move for Dave’s new property?

How Kathy is turning farmland into single-family houses for a small Oregon city

Henry’s quick house flip that is turning a stellar profit and what he plans to do on the extra lot that came with the deal

And So Much More!

Links from the Show

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Connect with Other Investors in the “On The Market” Forums