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Real estate investors, and real estate agents aspiring to be investors, had a number of opportunities to learn from the experts last week at Inman Connect Las Vegas.
From the nitty-gritty on what steps to take to find success as an investor to how to meet upcoming changes in the housing market head-on, speakers at Connect shared their secrets for what works — and what doesn’t — as an investor.
Here’s what they had to share on the Inman Connect stage.
Not being afraid to fail, selecting a good team and choosing the right investment property location are all key steps to finding success as an investor, India Whitlock of Keller Williams and Anthony Navarro of Harper Real Estate told Connect attendees.
The two speakers also pointed out that an agent who walks the walk, instead of just talking the talk, gains clout among their clients, as well as useful experience to share with them. That’s why investing as an agent can be a helpful value proposition to agents in their business, in addition to the personal benefits it may bring.
Former NFL player Doug Brien, now CEO of Mynd, and Roofstock CEO Gary Beasley shared with agents the benefits of investing in single-family rentals today. About a decade ago, investment risk in single-family rentals was “extraordinary,” Beasley said, but today, the two speakers agreed it’s a very stable asset class, especially for long-term investors with good financing.
Plus, Brien and Beasley noted, it’s easier than ever to invest remotely, especially with companies like Mynd and Roofstock establishing online marketplaces for investors to conduct business across the country.
The combination of good real estate tech and local agent know-how is a crucial one for real estate investor success, Homeward founder Tim Heyl said. Heyl founded the cash offer, buy before you sell company in 2018 after working as an agent in Austin and realizing that his clients were missing out on opportunities because they couldn’t pay in cash.
“We don’t pretend that it’s all right and good, but we know where the problems are,” Heyl said of the perspective agents can bring to their investor clients.
Investors still considering unloading a property for a profit may want to do so now before the housing market hits an imminent cool down, Ivy Zelman of real estate research firm Zelman & Associates suggested.
With the market having reached a fever pitch this year as individual and institutional investors have sought to take advantage of rising prices, individual markets across the country will soon become oversaturated, significantly curbing demand. That reduced demand will ultimately lead to stagnation across all price points and types of buyers, Zelman argued, which is why now is the time for investors to make a move.
Brad Greiwe, co-founder of venture capital firm Fifth Wall, said there’s currently no end in sight in terms of venture capital being infused into real estate. With the market for new real estate tech essentially wide open for opportunity, Greiwe (who also co-founded single-family rental giant Invitation Homes) said venture capitalists will continue to take advantage of the market’s opportunity to create a more seamless consumer transaction.