Rents Continue to Soar

 

Annual-Change-In-Rent-_chartbuilder

Rents have been soaring across the country, even outpacing home values, according to a recent Zillow report. And it’s not just a big city problem. “Places that were more traditionally affordable are growing more quickly,” said Skylar Olsen, senior economist at Zillow. The reason is the current shortage of available rentals. “Vacancy rates are at very low levels, which continues to push rents higher,” said Andrew Jakabovics, senior director, Policy Development & Research at Enterprise Community Partners.

There is in-turn a lot of pressure on the rental market: Millennials are renting longer, housing inventory is tight and Baby Boomers are downsizing. There’s also been a shift in people wanting to live in more urban areas, where renting is more common. But there just aren’t enough “For Rent” signs to keep up with the demand. Rental construction also slowed in the aftermath of the housing crisis as confidence shrank. “We weren’t building enough so when the economy recovered, vacancy rates got very tight,” said Hans Nordby, a managing director with real estate research firm CoStar Group. “If you don’t build apartments, it pushes rents up.”

Adding more supply will eventually ease some price pressure, she said. “It just takes time to creep down the distribution. People living in the older units now that aren’t as luxurious migrate over to the new luxury units, and that opens up more units.” But it takes about two years for rental buildings to become available in many markets so the relief won’t be immediate.

If you have been wanting to get into real estate investing now is the time. Rentals are going to continue to rise as they are in high demand. Use Revestor.com to see what properties are the best investments for you.

If you have bought a property using Revestor to calculate your investment, we would love to hear about it! Comment below or email us your story: info@revestor.com.

Source: CNN/Money and Forbes

2 Events that have most likely Killed your Momentum and 5 Things You Can Do About it Now!

Have you suddenly realized that 2014 isn’t shaping up to be the year you thought it would be? The fact is activity is at a two-decade low.

Mortgage interest rates spiked in July by over 100bps and in October our Gov’t decided to shutdown and create the longest holiday in US History . These two events (that were out of your control, btw) most likely killed the momentum in your business and now you’re most likely trying to get it kickstarted back up again.

Do you believe we are still in a “holiday hangover” and are you waiting around for things to “hopefully” get better in the Spring?

Here are 5 things you can do (that ARE in your control) to kickstart your business regardless of the events around you.

1.) DECIDE to BECOME a GLADIATOR! When everyone else is waiting in limbo and scared decide that it is YOUR TIME to STEP UP! Be Strong and Fight for your deals to the death. No mercy! Make winning a MUST! Create your own market if you have to!

2.) DOUBLE down on your MARKETING. Yes, that’s right invest in your business when everyone else is scared. Less competition =’s more profit and market share for you.

3.) DOUBLE down on your PITCHING. Just like Anger is a low-level of Rage, Selling is a low-level of Pitching. Sending or handing out e-mails, texts, social messages, flyers and business cards are not activities that will create direct results. Those are touches aka jabs and quite frankly they don’t count. Jabs are fine and are needed for the knockout but the TRUTH is if all you do is Jab you’re weak! If you want the knockout you need to perform your entire pitch on as many prospects as you can as many times as you can. Listen to your intuition and address their objections head-on, then it’s a done deal. If you don’t get through your whole pitch and you don’t get all the objections out-of-the-way it doesn’t count. Imagine, that you and your prospect are connected at the solar plexuses via a cord of light giving you the ability to feel every emotion. Visualize this and you will connect on a deeper level than you ever have before.

4.) DOUBLE your EFFORTS. Work hard, harder than you’ve ever worked before. This alone will allow you to run circles around your competition. There is no such thing as the “4-Hour Workweek”! You know that right? The book’s title was decided upon through a Google Adwords A/B test and one that would create book SALES. If you actually read the book you realize it has nothing to do with a 4-Hour Workweek, it has to do with being effective. The good news is most of your competition just read the title and not the book.

5.) BE a Pro. Dominate the competition and be the Pro who helps Investors buy and sell in your market. “Pro” or “Professional” is derived from the word “Profess” defined as ‘…to affirm one’s faith in or allegiance to a set of beliefs…’ If you commit to your profession/trade and you believe in yourself, your product, your company and your industry others will see that commitment in you and you will attract them into your business.

How to Knock your 2014 Goals out of the Park

We’re more than 45 days into the New Year (more than 10% of the year has pasted us by). Are you keeping up with your new year resolutions? How committed are you to your real estate business goals this year? Have you worked your plan backwards? If not here is your real estate [agent or loan officer] goal setting workshop.

Hit it out of the PARK!

Insert Your Numbers Here:

  • $500,000 2014 Income =
  • 100 Closed Transactions ($250K Average Deal minus Broker Splits = $5,000/deal) =
  • 8 Closings Per Month (2 Closings Per Week) =
  • 10 Escrows Per Month (2.5/Wk (80% pull-through ratio)) =
  • 15 Offers/Applications/Listing Appts Per Month (4 Per Week (shoot for 1 Per Day)) =
  • 300 New Leads/Prospects Per Month (75/Wk, 10/Day)* =

*Yes your marketing should be on 7days/wk

  • 1,500 Touches (Jabs) Per Month* (375 Per Week, 50-100 Per Day)=

*”5 Touch Rule,” touch every new prospect at least 5 times per month

Preferably all 5 touches should be a Phone Call
-Hit them with an E-mail (Attach Revestor Flyer)
-Hit them with a Text
-Hit (add) them on LinkedIn (Use Rapportive to do this, and add something of value to your LinkedIn feed daily) 
-Get them subscribed to Listing Alerts in their criteria (or interest rate alerts if you’re an LO) 
-Get them on your e-Newsletter (the same one you use for your existing database)
-Send them a handwritten note via snail mail

***Find a CRM that does most of this automatically to exponentially increase your results***

In summary, FOCUS in on the activities that create direct results rather than activities that don’t (outsource/automate/use tools for those).

Without leads there are no prospects. Without contacting/jabbing those prospects there are no appointments. Without you getting in front of and closing those appointments by offering value, uniqueness and insights there are no escrows/originations. AND without escrows/originations there are no closings/fundings!

Yes, you will make $500,000 plus per year if you generate/purchase 300 leads per month and JAB 75 of them per day or 1,500 times per month with the right tools. Break it down backwards and break it down daily. Find the rituals/activities that you must focus in on daily and the rest will fall into place.

How to Present Real Estate Investment Opportunities

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Close more deals with Branded Investment Property Presentations
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[youtube=http://youtu.be/nyxKjnEkzcM]

 

5 EASY Steps Agents & LOs can use to increase their commissions in 2014:

1.) Find a home-for-sale on www.revestor.com
2.) Use our proprietary interactive investment calculator (Adjust Purchase Price, Rental Income, Expenses, Downpayment, Years Held, Potential Appreciation Rate, etc.)
3.) Hit the ‘Print To PDF’ button
4.) Share the PDF with your Clients, Prospects via Email, Social Media, Networking Events and REI Clubs
5.) Tell escrow to wire your commissions to your bank account!

The Flyer below is just an example…now it’s your turn to try! Export Properties in your area and Make it YOUR pic and YOUR contact info! GO do it NOW…

Example of Exportable Property Flyer

New Feature: Branded PDF Presentation

Real Estate Professionals can now export a branded PDF presentation of a listed investment property on the site to potential partners, investors and/or clients. This exciting new feature allows users to present investment opportunities to prospects after they have made adjustments on the detail page. Users can adjust the rent, suggest a purchase price, down payment, hold period, etc. that would best optimize the investment.

The branded PDFs have been released on the site in basic format and will be professionally designed into a colorful presentation over the next week or so. Before we complete the design we would like User Feedback to help improve the presentations. If you are a Premium User, or are thinking about upgrading, go find a property on the site, adjust the investment indicators and export it to a PDF, then share it with some friends! Give us feedback in the comments below…

see pre-designed preview here: Revestor-Listing-Scottsdale-AZ-85251 (no revisions)

Free Search vs Member Search

Quick note/clarification for everyone…

You have to be logged in to your free account to try ‘Member Search’ three times (3x) for free.

After that you will be asked to enter your credit card in to upgrade to Premium on a 5-day free trial. If you continue on Premium your card will be charged $29/mo after the 5th day.

To continue using Member search, as well as saving the searches and getting alerts on them you must upgrade.

Comment with questions below or email customer service

Happy Investing,

– The Revestor Team

Feature Update for All Users

We added Zillow Zestimate API back inside the drawers on the List View of the Search Results Map Page.

Revestor Screen Shot of List View Drawers

We did this because Zillow Zestimate© is becoming more accurate in certain parts of the country and many users and investors have requested that we add it in next to the ‘List Price’ as a “reference” point.

We also added the the Zestimate© Low and High range. We will also be adding it to the Detail Page as a “reference” next to the ‘List Price’ slider to help you make adjustments to the calculations.

Please note we have no affiliation with Zillow other than there API. It is a tool to simply use as a reference point just as Redfin and other sites do. Let us know your feedback. Go now and try it out – www.revestor.com 

Why Housing Volume Dropped

This is what most in the housing industry have already felt in Oct, Nov, Dec 2013. As we predicted in a previous post below the loss of momentum from the Government shutdown would create the worst 4th quarter since the housing crash. The good news is that the news is always weeks to months behind. This report is what most of you have already felt.

Reports from Agents and Originators on the ground is that activity has picked up significantly in the new year. We see momentum starting to build toward a spring selling spree. What do you see in your market?

2014 Real Estate Resolutions

IT’S 2014, NOW WHAT?

DO NOT focus on New Years Resolutions and New Goals…

Yes, that’s right, instead focus FIRST on what to eliminate and what habits/rituals to STOP before you ADD anything new.

There’s no doubt about it, saying: “MIRROR, MIRROR, MIRROR on the WALL, what/who is the cause of all my problems?” is tough to do. SayingNO” and leaving things behind is a painful process but the good news is that you can break and start new empowering alternative habits/rituals in as little as 21days…it just takes a little “mental control” (discipline).

Yes, step one is stopping them, then step two is replacing them with something better, something that is going to make you real MONEEEEEEEY (Yes, we give you permission to say this like you are on the TV show “Shark Tank”).

After you’re done beating yourself up and taking responsibility that another year has gone by and you’re no closer to being where you want than before – write down what you’re committed to stopping (that you personally have control over).

An Example would be:
OLD DISEMPOWERING HABIT: EMAIL/FB/COFFEE right when I wake up
NEW EMPOWERING ALTERNATIVE: WATER w/ LEMON, read 1-2 Chapters of a book that will help me improve. (Instead of reading something someone else wants me to read.)

or maybe you will no longer do business with this person, this partner, and/or this company (be careful here, never change a relationship without first changing yourself, you’ll just bring the same problems with you. Changing companies doesn’t solve your problems).

If you get stuck try WHO, WHAT, WHERE:

WHO am I going to STOP doing business with?
(maybe you don’t like us, so it’s as simple as ‘unsubscribing’ from this blog, or maybe it’s time to STOP caring about what people think, or maybe it’s time to STOP working with a ‘big box’ and work with a local independent real estate company or maybe its time to start your own brokerage?)

WHO am I going to START doing business with?
(maybe it’s time to START doing what you know is right even if it pisses some people off. Isn’t the secret to success to STOP pleasing everybody, make some waves (piss some people off) and hope you make more people raving fans than pissed off? Is it time to start making waves and creating controversy? Are perceived disadvantages really your advantages? – #davidandgoliath by #malcolmgladwell (great book btw)

WHAT activity, marketing, pitch, tools am I going to STOP doing/using?
WHAT isn’t working?
WHAT activity, marketing, pitch (new script), tools am I going to START?
WHAT is working? WHAT new SKILL am I going to learn and master?

WHERE (market areas, or maybe market niches) am I going to STOP doing business?
WHERE (market areas, or maybe market niches) am I going to START doing business? WHERE am I going to focus?

“If you’re losing a race never follow behind the wind of the fleet, instead take a risk and tack. Sail in your own wind. Win or lose you’ll never regret it” – Bill Lyons, Founder Revestor

No, there is no sales pitch at the end. Just a note from us to encourage you to make 2014 an OUTSTANDING year. We know some of you shut the door on 2013 lightly and some slammed it shut and maybe even got in a punch or two before you left. Either way, its now onward and upward. Let’s do some great things together in 2014!

Here are some future posts to look out for:

*”2014, The Year of the ‘BUY and HOLD'”

*”How to DOUBLE your SALES by selling cash flow positive buy&hold properties to your current and past clients”

*”How to CREATE [retirement] wealth by building a buy&hold real estate portfolio”

-The Revestor Team

Fourth Quarter News and Data

We here at Revestor are predicting one of the slowest fourth quarters since the housing crash began (at least regionally). One of the main reasons we are seeing such a slow-down (as the U-T San Diego points out) is due to the Government shutdown. Typically momentum from October helps carry the market through the holidays. Obama basically halted all momentum and started the Holidays a month and a half early.

Revestor

This not only affected normal buyers but also affected investors confidence and motivation. This combined with rising mortgage interest rates created a perfect storm, almost to the point of the market falling off a cliff. You can also see the UT article with Dataquick comments here http://ow.ly/rQPvD

We are not yet bearish on the Spring so it can be a good opportunity for investors to pick up some good deals. Remember when there is fear there is opportunity.