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☆ Real-estate investors who are cash-flowing thousands of dollars share 3 strategies they use to find profitable rental properties: 'Look for the ugly houses'
▼ + stars: | 2024-02-04 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Business Insider has spoken with a handful of real-estate investors who own profitable properties and asked what they look for in the acquisition phase. Go for multi-family propertiesA multi-family is a single building divided to house more than one family living separately and ranges from duplexes to triplexes and fourplexes. The idea is that your tenant's rent will cover some (or all) of your housing costs. Note that not all markets have an abundance of multi-family properties. "When you're looking for an investment property, you're looking for something really under market that you can renovate."

Persons: Dana Bull, Bull, Nyasia Casey, she'll, Casey Organizations: Business, Agents Locations: New England, Baltimore

☆ A millennial who bought a home in 2023 shares the challenges of buying in today's market, including high rates. He explains why he has no regrets and could 'swallow the 6.5% mortgage.'
▼ + stars: | 2023-08-22 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

Interest rates, for one, are much higher. He put 10% down and locked in a 3.5% interest rate. For starters, interest rates are higher. "Buying a house at more current interest rates is a significantly different financial decision than buying a house 18 months ago was," said Cramer. Despite the higher interest rates, which make your monthly mortgage payment higher, Cramer could still comfortably afford the payment.

Persons: Jesse Cramer, Cramer, Sellers, It's, That's, I'm, Dana Bull, Bull Organizations: Federal Reserve Locations: Rochester , New York

☆ A veteran real estate investor who has been buying property for more than 30 years explains why she isn't afraid of interest rate hikes or recessions – and how to succeed in any environment
▼ + stars: | 2023-07-12 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

She's learned not to let factors outside of her control, like interest rates, affect whether or not she buys property. Real estate investor Brenda Stroud isn't one to sit on the sidelines during a high-interest rate environment. "Okay, the interest rate is high now; get the property, hold onto it, and refinance when the rate drops," she advised. Brenda Stroud, real estate investorStroud prefers a five-year ARM, she said: "At the end of five years, it automatically resets. In late 2022, he financed a property with a 7.25% interest rate, he noted: "I've closed on some high-rate deals.

Persons: Brenda Stroud, She's, Brenda Stroud isn't, Stroud, It's, I'm, that's, Dana Bull, Bull, Matt —, — Organizations: ARM, refinance Locations: Stroud, Real, Maryland, Georgia, Tuskegee , Alabama, Massachusetts, New England

☆ A bright spot in the economy is at risk as 30 million Americans face student loan payments for the first time since the pandemic
▼ + stars: | 2023-05-17 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

More than 43 million Americans together owe $1.6 trillion in student loans. That additional load could weigh on consumer spending, and eventually increase delinquencies on other payments like credit cards and personal loans, strategists said. "We view the resumption of student loan debt payments as an incremental headwind for borrowers and consumer finance companies," BofA said. This, in other words, means the odds of the hotly-anticipated recession are about to go up as consumers divert cash back to student loan payments. Do you have student loans?

☆ A real-estate agent explains how regular homebuyers can compete with all-cash buyers using 'pre-underwriting' — and 3 other ways to get your offer accepted in a competitive market
▼ + stars: | 2023-05-16 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +7 min

The housing market is competitive right now and homes are selling quickly. Realtor Dana Bull shares the strategies that her clients are using to win bids in a competitive market. Real-estate agent, consultant, and investor Dana Bull says that her market, Boston, is more competitive than ever. The main advantage is that the everyday buyer can close quickly, which used to only be a luxury for all-cash buyers who didn't have to worry about securing financing. Big picture, you win the bid and you get the house because you're able to close quickly; but you may not be getting the best rate."

☆ 2 real estate investors who are financially independent from their rental portfolio say they get the most bang for their buck by buying multi-family properties. Here's why they're 'a fantastic entry-l
▼ + stars: | 2023-05-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +5 min

Insider has spoken to a handful of investors who have used real estate to achieve financial independence, including some who got started with less than $10,000. (Buildings with four or more units are typically considered commercial real estate properties.) "'Twos' and 'threes' and 'fours' are a fantastic entry-level investing approach," said real estate investor and consultant Dana Bull, who acquired seven multi-families in Massachusetts over five years. Because duplexes, triplexes, and fourplexes fall under the bracket of residential real estate, you're able to utilize residential loans, she pointed out. Real estate investor Matt "The Lumberjack Landlord" and his family.

☆ 20-year-old real estate investors who started with less than $1,000 in savings and couldn't qualify for a traditional loan explain the strategy they used to buy property without the bank's help
▼ + stars: | 2023-04-05 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +6 min

When Caleb Hommel and Chuck Sotelo decided to invest in real estate, they didn't have any savings. They were still in junior college at the time and delivering food to pay for an online real estate mentorship program. With seller financing, there are no pre-qualifications since it's a completely private loan. They're no longer responsible for managing the property or tenants, which can be time-consuming responsibilities that come with traditional real estate investing. Part of the reason seller financing isn't super common is because most people don't own their properties completely, she said.

Real estate crowdfundingReal estate crowdfunding is a strategy that allows enterprises to raise capital from large groups of individuals. Real estate investment trusts (REITs)If you want to wade into real estate, investing in a real estate investment trust (REIT) will provide exposure to the market without the time and cost commitment of buying your own property. Invest in your own homeFinally, if you want to invest in real estate, look closer to home — your own home. Strategies for successful real estate investingWhatever form your real estate investment takes, certain strategies will stand you in good stead. Pure investment plays — which don't involve hands-on management from you — include real estate crowdfunding, investing in real estate limited partnerships, and buying into real estate investment trusts.

☆ 5 real-estate investing veterans share their wealth-building strategies heading into 2023, including how they're finding great deals and putting their cash to work
▼ + stars: | 2022-12-14 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

Others are focused on optimizing their current rental properties. Dana Bull is optimizing the rental properties she already ownsReal estate investor and consultant Dana Bull. Matt 'The Lumberjack Landlord' is bolstering his cash cushionNew Hampshire-based real estate investor Matt "The Lumberjack Landlord" and his family. Karina Mejia is poised to expand her portfolio and wants properties that will immediately cash flowReal estate investor Karina Mejia owns properties in Boston and Georgia. Mike Zuber is writing aggressive offers two times a weekReal estate investor Mike Zuber and his wife Olivia.

☆ 4 real estate investors agree that mortgage interest rates are 'not that high' and explain why 2023 could actually be a great time to buy property
▼ + stars: | 2022-12-08 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +10 min

A handful of successful real estate investors agree that mortgage interest rates aren't too high. A handful of successful real estate investors agree: Stop waiting for interest rates to go down before investing in a rental property or buying a primary residence. In the grand scheme of things, today's rates are "not that high," emphasized Massachusetts-based real estate investor and consultant Dana Bull. Here's what Bull and three other successful real estate investors advise heading into 2023. When you focus on making the numbers work for you and getting a great cash-on-cash return, things like rising interest rates don't matter as much, he added: "I don't care if interest rates are 7%, 9% or 11%.

☆ Russian oil just got hit with sanctions and a price cap after months of lead up. Here's what it means and what happens next.
▼ + stars: | 2022-12-05 | by ( Phil Rosen | ) www.businessinsider.com time to read: +6 min

If you take anything away from today's newsletter, let it be this: As of today, Russian oil faces a new European Union embargo, as well as a price cap. EU leaders have been debating a price cap for months, but on Friday agreed to a $60-a-barrel level. Some analysts predict Russian oil exports could drop by 1 million barrels per day, or about 20% of its seaborne volume. She told me over a video call from London that, ultimately, oil markets probably won't react dramatically in either direction. What do you think is the most likely outcome of the new sanctions on Russian oil?

☆ A real-estate investor who owns 22 units and started buying property during an economic downturn shares her top advice for investors heading into 2023
▼ + stars: | 2022-12-02 | by ( Kathleen Elkins | ) www.businessinsider.com time to read: +8 min

She also says you shouldn't let rising interest rates hold you back from buying. When Dana Bull bought her first property in June 2012, she wasn't intending on becoming a real estate investor. Even though everybody was talking about how scary buying real estate was, it didn't really seem to impact me. Today, the 33-year-old real estate investor and agent owns 22 rental units around Salem and Marblehead, two coastal towns north of Boston. Don't let today's interest rates hold you back from buyingSure, interest rates aren't what they were in 2020 and 2021, when they plummeted in response to the Covid-19 pandemic and even dipped below 3% to record lows.

To buy a house, you should first team up with a trustworthy real estate agent and make sure your credit is in good shape. In most cases if you plan to get a mortgage, you need a loan pre-approval in hand before you can start looking at houses. Your monthly mortgage payment will remain the same until you pay back the loan, unless you refinance. Purchase homeowner's insurance for the propertyIf the property is being financed, you will need to purchase homeowner's insurance before closing. Do a final walk-throughOnce the mortgage is obtained, the lawyers will set a date for a final walkthrough and a closing.

☆ A 33-year-old real-estate investor with 24 units shares the 9 tech tools she swears by as a landlord
▼ + stars: | 2022-10-20 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +6 min

Dana Bull is a 33-year-old investor who has built a portfolio of 24 rental units. This as-told-to essay is based on a conversation with Dana Bull, a 33-year-old realtor and real-estate investor who leases and rents out 24 units across eight properties in Massachusetts. Rents in these units average about $1,800 a month, which totals about $518,000 a year in revenue before expenses. I'm also a realtor, so many of the tools I use for that role, I use as a landlord as well. LeaseRunner.comIt's also really important to get electronic-signature software — I use DotLoop because it's the premier software that real-estate agents use.

☆ How to achieve financial freedom, according to 11 couples and individuals under 40 who've done it
▼ + stars: | 2022-09-26 | by ( Business Insider | ) www.businessinsider.com time to read: +15 min

For many people, financial freedom means being able to retire early and work only by choice. He believes that real estate is the most tried-and-true way to build wealth, but he also invests in the stock market. If you want to achieve financial freedom and retire early, put in the hours, he advised. "As long as you can live within your means, and you understand your basic necessities, then it's very possible to create financial freedom." "Entrepreneurship has really accelerated our own path to financial freedom, which I would say we have achieved."

See Insider's list of the best real estate investing apps»Channel-surfing these days will almost certainly lead you into some iteration of real estate, from realtors' million-dollar listings to DIY-ers house-flipping. Real estate crowdfundingReal estate crowdfunding is a strategy that allows enterprises to raise capital from large groups of individuals. Real estate investment trusts (REITs)If you want to wade into real estate, investing in a real estate investment trust (REIT) will provide exposure to the market without the time and cost commitment of buying your own property. Strategies for successful real estate investingWhatever form your real estate investment takes, certain strategies will stand you in good stead. Pure investment plays — which don't involve hands-on management from you — include real estate crowdfunding, investing in real estate limited partnerships, and buying into real estate investment trusts.

Nearly 80% of American parents financially support their adult children, according to a 2018 Merrill Lynch survey. A 2018 Merrill Lynch survey revealed that 79% of US parents provide financial support to their adult children, contributing to $500 billion spent annually. According to the Merrill Lynch survey, parents today are largely helping out with food and groceries, cell phone bills, and car expenses. Many parents surveyed would make various financial sacrifices for their adult children. When it comes to homebuying, 26% of parents told Merrill Lynch they would help their child with a down payment.

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