On The Market

Join the Future of Real Estate Investing with Fundrise

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

Jamil's BiggerPockets Profile

Jamil's Instagram

Hear Our 2022 Housing Market Predictions

Rocket Mortgage’s Top Real Estate Markets of 2022

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-67

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66: 2023 Foreclosure Forecast: A False Flag with Inflated Numbers? w/Rick Sharga Jan 02, 2023

Show notes

Foreclosures, mortgage rates, housing prices; if there’s one person to ask about any of it, it’s Rick Sharga, Executive Vice President at ATTOM, who handles housing market data and forecasting all day, every day. Rick is often seen as a housing fact crusader, taking down the clickbait hype that many mainstream articles love to post. While other media channels push fear, Rick focuses on facts, showing what’s happening in the housing market, whether it’s good or bad news.

Rick knows much more about home foreclosure numbers than most, so we took time today to ask him exactly how rising interest rates, crushing unaffordability, and shrinking home prices affect today’s homeowners. Could there be a foreclosure crisis on the horizon? Or, are homeowners in such a solid position that the chance of getting foreclosed on is slim to none? And if you’re looking to make some money during this declining market, which strategy would work best as buyers and sellers get desperate?

We also take a chance to get Rick’s opinion on where interest and mortgage rates could be heading over the next year. Rick lays out the exact scenarios that could cause rates to plummet or rise multiple percentages and how homebuyers may go through a rate “reprogramming” to get hungry for houses once again. If you’re holding, buying, selling, or renting in 2023, this is the data you need to know!

In This Episode We Cover

The interest rate “reprogramming” and why rates don’t need to hit rock bottom for a buying frenzy to start again

Mortgage rate predictions and what could happen that would cause rates to spike in 2023

The latest foreclosure data and why homeowners being “underwater” isn’t what you think

The best opportunity for real estate investors and the revival of wholesaling in 2023

Bad news for house flippers and why profits are starting to drop for home renovations

The “short-term pain, long-term gain” of real estate investing in 2023 (and beyond!)

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

Jamil's BiggerPockets Profile

Jamil's Instagram

Hear Our Past Episode with Rick

ATTOM’s Home Flipping Report

Connect with Rick:

Rick's LinkedIn

Rick's Twitter

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-66

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65: Deleveraging: The Dominoes are About to Fall w/Ben Miller Dec 30, 2022

Show notes

Deleveraging is a term you probably haven’t heard. And don’t be surprised; most news networks will never cover what deleveraging is or what it means for the real estate market. But, this capital constriction could implode the housing market, causing numerous investors and funds to go under, leaving the rest to pick up the scraps. This massive change is about to happen, but don’t get too scared; if you bought right, you could be one of the lucky few with a buffet of cash-flowing deals to choose from.

So, who’s better to ask about this impending crisis than Ben Miller, co-founder and CEO of Fundrise? He’s been on both ends of lending, not only buying significant assets with credit but also supplying the funding to others who need it. Ben is predicting a massive change in the real estate market that will shock investors to the core and could leave the economy worse for wear. This deleveraging crisis Ben talks about is not a simple concept, but once you understand how and why it’s happening, you unlock a piece of knowledge that 99% of other investors miss.

Ben speaks on how bridge loans and floating financing have put thousands of investors (and lenders) in a bind, why banks will be strapped for cash in 2023, and the scenarios that could play out over the next year if everything goes wrong. Make no mistake, this is NOT a doomsday forecast or some hypothetical hype meant to worry investors. Deleveraging is a real scenario that could have cascading effects for decades. If you’re investing, this is a CRUCIAL episode to tune into.

In This Episode We Cover

Deleveraging explained and why so many investors are on the line for millions of dollars

Which real estate industries will be hit hardest when the deleveraging crisis manifests

Why even the banks are overleveraged and the domino effect that could cause financial chaos

The scenarios that could play out as banks start to constrict the money supply and investors get desperate

The massive opportunity for investors as overleveraged loans come due and assets start to sell for a fraction of the cost

Who will win and make it out alive after the mass deleveraging takes place

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

Hear Our Previous Interview with Ben on “Build-to-Rent” Investing

How to Prepare for a Recession (and Profit!) in 2022

Connect with Ben:

Ben’s Twitter

Ben’s LinkedIn

Ben’s Email

Ben’s BiggerPockets Profile

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-65

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64: 2023 Real Estate Taxes: Write-Offs, Loopholes, and How to Pay Less Next Year w/Amanda Han Dec 26, 2022

Show notes

Real estate tax strategies are plentiful. In fact, real estate investing is one of the most tax-beneficial investments you could make, with a plethora of tax write-offs and loopholes you can use to avoid taxes legally. But, if you’re new to real estate investing or don’t know about many of these strategies, you could pay tens of thousands extra every year, limiting your portfolio’s growth. That’s why we brought Amanda Han, CPA and real estate investor, onto the show.

Amanda has been helping investors lower their tax burdens for decades. As an investor herself, she’s had to grow her professional and personal knowledge to take advantage of as many tax deductions as possible. She’s so fluent in the real estate tax code that she even wrote the books on tax strategies for BiggerPockets! Dave and Henry spend today’s interview asking Amanda the tax questions you may have been too scared to ask your CPA.

We’ll touch on the most significant changes in the 2023 tax code, the big blow to investors starting next year, cost segregations explained, the short-term rental tax loophole, and why you should start planning NOW for next year’s taxes. If you want to pay fewer taxes, buy more real estate, and keep more of your hard-earned passive income in 2023, this is the episode to listen to!

In This Episode We Cover

The biggest tax change for real estate investors that you NEED to know about

When to start preparing for taxes and “accelerating” your expenses in 2023

2023 tax strategies for real estate investors and the write-offs most people miss

The HUGE house hacking capital gains benefit that most investors don’t know about

Bonus depreciation and cost segregation studies explained

The short-term rental tax loophole that’ll allow you to write off everyday income

The one question every investor should ask when interviewing CPAs/tax strategists

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

Amanda's BiggerPockets Profile

Tax-Saving Toolkit

Books Mentioned in the Show

The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han

The Book on Advanced Tax Strategies by Amanda Han

Connect with Amanda:

Amanda's Instagram

Amanda's Website

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-64

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63: Redfin’s 2023 Forecast: Sales Slump, Rates Drop, and The Forever-Renters Dec 23, 2022

Show notes

There are few things more critical to a real estate investor than home prices, mortgage rates, and rent. Thankfully, those are three subjects that Redfin decided to tackle in their new 2023 housing market predictions list. But are these housing market projections the truth, or is the data showing something else entirely? We’ve got Dave to fly solo this episode to break down these hot housing market takes to see which could truly come true in 2023.

Welcome back to On the Market. As we wind down the year, we’re wrapping up as many real estate predictions and forecasts as possible so we can give you, the investors, the best chance of success in 2023! And although many of you have asked for Dave’s crystal ball (it’s just his head, people), he’s brought something even better today to share: cold, hard housing market data! We’ll be pinning it against Redfin’s predictions on mortgage rates, housing prices, home sales, rents, and construction for 2023.

Some of these predictions seem far more likely than others, as the future remains mysteriously shrouded in possibilities of a global recession or depression rocking the housing market over the next year. But let’s get to what you really want to know: which markets will be saved, how low rates will go, and when you can expect to get even better deals on investment properties. All that (and much more) is coming up, so tune in!

In This Episode We Cover

Redfin’s most significant housing market predictions of 2023

How low home sales could go as buyers and sellers stand in a stalemate

Mortgage and interest rate predictions and the three scenarios that could cause rates to drop

Whether or not a foreclosure crisis is on the horizon as home prices start to stall

The most secure real estate markets in 2023 and why the “winners” of 2021 and 2022 won’t be safe

The generation of forever-renters and why a nationwide rent drop isn’t as likely as it seems

Which property type will see the most construction and competition in building

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

Redfin’s 2023 Housing Market Predictions

Hear Our 2023 Housing Market Forecast

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-63

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62: Homebuyers Are Getting Crushed: Are Landlords the Cause? Dec 19, 2022

Show notes

The housing crash is always looming. If it wasn’t, how would media outlets push you to constantly stay informed, glued to the television, watching every new mortgage and inflation update? For years now, a housing market crash has been the talk of the town, with everyone from well-known news anchors to your “very informed” family members telling you that it’s only a matter of time until this house of cards comes crumbling down. But these “forecasts” aren’t as rock-solid as they may seem.

This is just one of the stories we’ll touch on in this episode of On the Market, where we’re joined by our entire panel of expert guests! With the housing market in a standoff between buyers and sellers, our expert real estate investors are here to save the day, giving you the top stories that could impact your income. To start, Jamil talks about the “cancer” that’s affecting the Arizona housing market, Kathy touches on new landlord legislation, Henry hits on the US recession, and James debates the housing market doubters.

But we’re not just talking about how investors are faring, we’re diving deep into a rarely-talked-about subject among investors—homelessness, housing affordability, and our impact on society. You’ll hear why investors are open to building affordable housing, but there’s one BIG hurdle standing in their way, stopping them from moving forward. We’ll also discuss whether or not landlords are the villain retail homebuyers portray them to be, and how we, as investors, can help more homebuyers reach their dreams of finally becoming owners themselves.

In This Episode We Cover

Homelessness, housing affordability, and why even as prices drop, first-time buyers feel out of luck

Affordable housing and what the government must do to incentive landlords to act

Landlord legislation and a new bill that could curtail Wall Street’s buying activity

Whether or not the US has already entered into a recession and who’s hurting the most

Housing crash “clickbait” and why the chances of a home price drop-off are different than you think

The “money printing disease” and how the Federal Reserve’s unregulated moves are killing the economy

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

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-62

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61: How to Build Bigger (While Working Less!) and Setting SMARTer 2023 Goals Dec 16, 2022

Show notes

What are your 2023 goals? If you don’t have an answer in mind just yet, don’t worry, there’s still time to lock in your plans to have a wealth-building, financial freedom-finding, more fun (and frugal) new year. And while goal setting for many people can seem almost arbitrary, top investors, again and again, point to it as one of the reasons they’re able to hit such unbelievable heights. We’re not talking about making a few extra bucks in passive income, we’re talking about building life-changing wealth in only a matter of years.

If you think you shot too high in 2022, think again. We’ve got Henry, James, and Kathy back on the show to talk about what they’ve accomplished in 2022. To no surprise, almost all of them hit big goals, but that doesn’t mean they did everything they wanted. All of our expert guests failed at one or multiple of their goals, but funnily enough, failing meant success in other areas!

They’ll walk through exactly how they set their 2022 and 2023 goals, the steps they’re taking to do the impossible, and tips you can use to hit goals you’ve never even dreamed of. Whether 2023 will be the year you buy your first, or fifteenth rental, flip a property, or finally reach financial freedom, these tips can help you no matter what stage you’re at. So tune in, bring a pen and paper, and get ready to achieve your dreams in 2023.

In This Episode We Cover

Our failed 2022 goals and how we’re making up for them in 2023

Big plans to buy hundreds of rentals in just one year

Why falling short on a past goal could benefit other moves you’re making this year

Setting hard deadlines to force yourself to accomplish what you’ve set out to do

Taking a step back from “active” investing to spend more time with family and friends

Vision boards, affirmations, and other techniques experts use to accomplish big goals

On the Market’s plan for total podcast domination and how we’re going to make Dave the BEST Dave in the podcast space

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

Accomplish Anything in 90 Days with “The Intention Journal”

Our 2022 Biggest Real Estate Mistakes

The Secret to 10x-ing Your 2023 Goals | How to Set Goals

Ninety.io

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-61

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60: Our 2022 Real Estate Regrets and How You Can Benefit From Them Dec 12, 2022

Show notes

Home buyer’s remorse, low interest rate dreams, and not taking a second look at a property. These are some touchy subjects for real estate investors who had wins but also big losses in 2022. While real estate investing is one of the best ways to grow generational wealth, it still has its home-induced headaches, either from going over budget on a project, waiting too long to buy, or doing the wrong rehab. But don’t get down if you made any of these mistakes. Our expert investors have done the same!

Welcome back to On the Market. In today’s show, Dave, Henry, James, and Kathy, talk about the biggest real estate regrets and mistakes made in 2022. This show proves that even if you’re experienced, you can still fall prey to making mistakes and losing hundreds of thousands of dollars doing the wrong deals. But this isn’t all doom and gloom. The cast shares lessons learned from these big mistakes so listeners like you can avoid these money-hemorrhaging life lessons the next time they pop up in your life.

We also talk about some of the biggest mistakes across the news in 2022. These span from the FTX crash and SBF’s fall from grace, the crypto slump of this year and last, and why so many buyers were caught off guard by the almost unprecedented interest rate hikes of earlier this year. Tune into this episode, and stick around for next week’s as we give a glimpse at what we’ll be doing to build even more wealth in 2023!

In This Episode We Cover

Knowing your numbers and how going over budget on a renovation is easier than most people think

Interest rate nostalgia and why locking down a low rate beats a better home price

Permitting hold-ups and how avoiding a site visit could cost you hundreds of thousands

The FTX crash and crypto’s demise over the past two years (and what caused it)

2023 mortgage rate predictions and whether or not we’ll see four percent rates within the next year

Why every great real estate investor has a bad contractor story

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

How to Deal With Regret in Real Estate

Biggest Red Flags of a Bad Contractor

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-60

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59: FEMA, Floods, and Florida Real Estate After Hurricane Ian w/Jeremy Edwards Dec 09, 2022

Show notes

After Hurricane Ian, Florida real estate took a huge hit. With multiple communities literally underwater and the entirety of Southwest Florida facing pricey home repairs, Florida went from being the Sunshine State to the “do we have enough insurance?” state overnight. And with more and more natural disasters taking shape across the US, how can homeowners, landlords, and renters prepare for what mother nature is throwing at us?

Thanks to both heavy state and federal funding, Florida is well on its way to a successful recovery, but how did this happen? To learn more about the ins and outs of disaster recovery, we brought on Jeremy Edwards, Press Secretary at FEMA (Federal Emergency Management Agency), to share what the federal government is doing to aid in building back communities. Jeremy touches on storm tracking, pre-disaster preparedness, flood insurance coverage, and temporary housing programs landlords can use to help affected areas.

We also take a detour to talk about the rising insurance costs in disaster-prone areas like the Gulf Coast and the flood mitigation assistance grants that FEMA has set up for local governments to lower their chances of a devastating event. Jeremy also talks about what private homeowners can do if they don’t have enough insurance coverage, and how they can build back better so their own homes are protected when disaster strikes.

In This Episode We Cover

The financial impact that Hurricane Ian had on the state of Florida

Rising home insurance rates and how the government is stepping in to help

Why investors are still buying in areas that are highly impacted by hurricanes

Flood insurance and FEMA’s assistance to homeowners that need more coverage

Temporary housing assistance and how landlords can help those in need

Hurricane, wildfire, and other disaster prevention that could save you tens of thousands

The timeline for a full recovery in heavily affected hurricane areas

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

National Risk Index

ClimRR

Fema’s: Individual Assistance Line: 1-800-621-FEMA (1-800-621-3362)

Connect with Jeremy:

Jeremy's LinkedIn

Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-59

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58: The iBuyer Massacre and Why Most Will Never Survive w/Mike DelPrete Dec 05, 2022

Show notes

Zillow, Opendoor, and other iBuyers made quite a name for themselves over the past two years. By buying up every house on the block, iBuyers quickly became the “no work, best price, all cash” alternative to selling through an agent or a wholesaler. These huge, wall-street funded businesses were buying thousands of homes in the blink of an eye, doing some quick repairs, and flipping them in record time. But even with all this activity, iBuyers were slowly hemorrhaging money, causing most of them to crash and burn within the past year.

Now, all that’s left standing is Opendoor and Offerpad, two of the most experienced iBuyers around. But will either of these giants survive until the end of 2023? With home prices starting to plummet, interest rates rising, and last year’s homeowners not looking to move, will Opendoor and Offerpad bleed out before they get another shot at this wild housing market? We brought in real estate tech strategist, Mike DelPrete, to give his opinion on the future of iBuyers.

Mike has been watching iBuyers for a while. He’s seen them creep into towns, buy up inventory, just to sell at a loss months or years later. He knows what competition looks like for real estate investors, and he doesn’t think iBuyers offer much of a threat. Mike walks through the current state of iBuyers, how they could end wholesaler and realtor careers, why most iBuyers were designed to fail, and why companies like Opendoor and Offerpad may be forced to pivot strategies very soon.

In This Episode We Cover

How 2022’s housing market almost destroyed the iBuyer industry

A huge threat to real estate agents and wholesalers from iBuyers

The massive operational expenses that destroyed businesses like Zillow Offers

The iBuyer’s “path to profitability” and why it’s almost impossible to achieve

Why homebuyers are refusing to buy the soulless flips iBuyers offer

Whether or not iBuyers will be able to survive this current housing correction

And So Much More!

Links from the Show