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☆ Walker & Dunlop CEO: Multifamily homes are one of the strongest commercial asset classes
▼ + stars: | 2023-09-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalker & Dunlop CEO: Multifamily homes are one of the strongest commercial asset classesWalker & Dunlop CEO Willy Walker joins 'The Exchange to discuss commercial real estate defaults, opportunities in a higher interest rate environment, and more.

Persons: Willy Walker Organizations: Walker, Dunlop, & & '

☆ 'Thrown to the wolves': How private investors are jacking up rents and ripping off college students
▼ + stars: | 2023-09-20 | by ( James Rodriguez | ) www.businessinsider.com time to read: +19 min

The eye-popping numbers are part of a longer-term shift toward private college housing. Moody's Analytics recently warned of an "affordability crisis" for college students, noting that since 2019, rents for student housing in a sample of notable college towns had grown faster than those of regular apartments. Student housing goes privateThe gold rush in student housing is a relatively new phenomenon. Back in the 1980s and '90s, most college students either lived in bland, cinder-block-walled dorms or in conventional apartments farther from campus. Even with his frugality, he came to realize that the prices in West Campus were "impossible to rationalize" for a college student.

Persons: behemoth Blackstone, Evan Scope, UT Austin who's, Carl Whitaker, Austin Kristian Alveo, Whitaker, Mark Austin, Kristian Alveo, David Willson, Willson, Gina Cowart, Cowart, David Kanne, lounging, Ann, Kanne, Lu Chen, RealPage, Donald Cohen, Cohen, Graham Sowden, Dan Allen, Allen, Austin, James Rodriguez Organizations: Waterloo, University of Texas, Wall Street's, American, Communities, National, Housing, Evan Scope Crafts, UT Austin, University, UT, LV, UTs, Crafts, American Campus, HBO, West, haven't, State College ,, Moody's, Power, Middlebury College, University of Tennessee, Arizona State University, Urban Institute, Investors, Power Five, RREAF Holdings Locations: Austin, Wall, Waterloo, UT Austin, Rio, Villas, West, West Campus, Gainesville , Florida, Ann Arbor , Michigan, State College , Pennsylvania, Knoxville, South

☆ US housing starts hit three-year low; surge in permits point to underlying strength
▼ + stars: | 2023-09-19 | by ( Lucia Mutikani | ) www.reuters.com time to read: +6 min

The decline in housing starts reported by the Commerce Department on Tuesday was the largest in a year and occurred across the board. Housing starts tumbled 11.3% to a seasonally adjusted annual rate of 1.283 million units last month, the lowest level since June 2020. Data for July was revised lower to show starts accelerating to a rate of 1.447 million units instead of the previously reported 1.452 million units. Single-family housing starts, which account for the bulk of homebuilding, dropped 4.3% to a rate of 941,000 units last month. They were boosted by a 14.8% surge in multi-family housing permits to a rate of 535,000 units.

Persons: Mike Blake, homebuilding, Daniel Vielhaber, Hilary, Freddie Mac, Goldman Sachs, Nancy Vanden Houten, Jeffrey Roach, Lucia Mutikani, Chizu Nomiyama, Paul Simao, Andrea Ricci Organizations: REUTERS, Commerce Department, Federal, Nationwide, Reuters, U.S, Treasury, National Association of Home Builders, Oxford Economics, Realtors, LPL Financial, Thomson Locations: Rancho, San Diego , California, U.S, WASHINGTON, Columbus , Ohio, homebuilding, Northeast, Midwest, Wells Fargo, New York, Charlotte , North Carolina

☆ Affordable Housing Crisis in US West: Why It's Hard to Build New Homes
▼ + stars: | 2023-09-13 | by ( Kyle Paoletta | ) www.businessinsider.com time to read: +15 min

The solution to keep prices under control seems fairly simple: Just build more housing. For a time, sprawl boosted housing supply and accommodated newcomers to the West: Nearly 60 million more people live in the region now compared with the 1950s. Running out of landWhen the economy crashed in 2008, housing construction screeched to a halt. All this red tape has caused a serious slowdown in much-needed housing construction. Build, build, buildDespite the unique challenges of building in the paradoxically wide-open West, some cities have been able to break through.

Persons: Mike Segrest, Megan Lawson, Kyle Stevens, Carrier Johnson, “, Lawson, Land Management . Nevada Sen, Catherine Cortez Masto, Kyle Roerink, Hillary Schieve, Schieve, Howard Blackson, Kyle Paoletta's Organizations: Forest Service, Southern Ute, Marin Headlands, Bureau, Land Management ., Water Network, Biggest, Biggest Little City, Housing Administration, Harper's Magazine, New York Magazine, Oasis Locations: Colorado, Durango ., it's, Animas, San Juan Mountains, Durango, Las Vegas, Montana, Houston, Minneapolis, Rocky, Phoenix, Denver, Mississippi, San Diego, San Jose , California, Marin County, San Francisco, Santa Fe , New Mexico, Jackson , Wyoming, California, Land Management . Nevada, Vegas, Reno , Nevada, Reno, Cumulatively, Biggest Little, Summit, Washington

☆ Here are 3 trends to watch for in the key August inflation report, according to Goldman Sachs
▼ + stars: | 2023-09-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Goldman Sachs expects August headline CPI to rise 3.58% annually, up from July's 3.2% gain. Strategists wrote Monday they expect to key trends to emerge, including a 3.1% decline in used car prices. CarsThe strategists said used car prices should fall 3.1% in August from July, reflecting lower auction prices. Goldman Sachs estimates used car prices to fall in August. Shelter inflation will remain roughly at its current pace in August, Goldman Sachs says.

Persons: Goldman Sachs, Goldman Organizations: Service, Federal Reserve, Transportation Goldman, CPI Locations: Wall, Silicon

☆ Which Crisis Should We Talk About First? - The New York Times
▼ + stars: | 2023-09-11 | by ( Gail Collins | Bret Stephens | ) www.nytimes.com time to read: +1 min

New York City alone is sheltering and feeding an average of 59,000 migrants a day. There are job openings many newcomers could fill in areas like food service, if they’re given the ability to work. And the federal government needs to give stressed-out regions — particularly New York City — a whole lot more help when it comes to housing. Over the long run, we absolutely have to open up options for multifamily housing in suburban areas that have long resisted it. The administration has expanded federal border resources in an effort to make processing families faster.

Persons: Bret Stephens, Gail, Biden, Gail Collins, Bret, I’m Organizations: Democratic Locations: New York City

☆ Office sector collapse will cost US banks as much as $250 billion, hedge fund boss says
▼ + stars: | 2023-09-11 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Ongoing weakness in the office sector will cost US banks as much as $250 billion. AdvertisementAdvertisementAlso weighing on the commercial real estate market is higher interest rates, which should put pressure on landlords that have to refinance their loans in the near term. Most owners of commercial real estate have been able to take advantage of the near-zero rates over the past decade. But other areas of the commercial market should remain solid, like industrial real estate, multifamily housing, and data center spaces, according to Bass. When you look at multifamily, multifamily is doing really well," he said.

Persons: Kyle Bass, Bass, multifamily, it's Organizations: Service, Hayman Capital Management, Bloomberg, Bass Locations: Wall, Silicon

☆ YIMBY Movement Is Winning: Build More Houses, Lower Home Prices, Rents
▼ + stars: | 2023-09-07 | by ( Eliza Relman | Kelsey Neubauer | ) www.businessinsider.com time to read: +15 min

The adherents of the "Yes In My Backyard," or YIMBY, movement believe that America's housing crisis comes down to the fundamental tension between supply and demand. Today, nearly 75% of residentially-zoned land in the US is restricted to single-family housing — detached homes designed for one family. Folks are like, 'Oh, we're in a housing crisis for the very first time. Ground zero for the modern YIMBY movement was California, where sky-high home prices forced people to reconsider their attitudes toward development. The city didn't allow new multiunit buildings to be taller or wider than the single-family homes they replaced, making construction less financially attractive to developers.

Persons: Nolan Gray, YIMBYism, Sonja Trauss, Trauss, YIMBYs, NIMBYs, Gray, I'm, —, Bill, They've, Tayfun Coskun, Muhammad Alameldin, Emily Hamilton, We're unwinding, Jenny Schuetz, Greg Gianforte, California YIMBY, Republican Sen, Todd Young, Democratic Sen, Brian Schatz, Eliza Relman, Kelsey Neubauer Organizations: San, San Francisco Bay Area, Urban Institute, Twitter, of Regional Planning, Public, Cato Institute, University of California, Berkeley Terner Center, Housing, George Mason University, Conservative, Brookings Institute, Republican, Todd Young of Indiana, Democratic, Hawaii Locations: California, San Francisco Bay, San Francisco, I'm, Los Angeles County, Florida, Utah, Minneapolis, Oregon, Austin, Dallas, Seattle, Portland , Oregon, Denver, New York, Texas, YIMBYism, We're, Bozeman, Montana, Miami

☆ The 20 most attractive US cities for homebuyers and investors seeking affordability in growing economies, according to Realtor.com — 5 of which have median prices below $300,000
▼ + stars: | 2023-09-02 | by ( Laila Maidan | ) www.businessinsider.com time to read: +5 min

Danielle Hale says one of the biggest issues in the housing market right now is affordability. Housing supply remains low. As of Friday, the average 30-year fixed mortgage rate was at 6.79%. Between mortgage rates and property appreciation, buying a home takes up a more significant chunk of household budgets than it has over the last several years. And that context is important for the housing market because housing is such an interest rate-sensitive sector of the economy, she added.

Persons: Danielle Hale, Hale Organizations: Trading Economics, Federal Reserve Economic, Wall Street

☆ Idalia to boost Florida apartment insurance costs further
▼ + stars: | 2023-08-31 | by ( Matt Tracy | ) www.reuters.com time to read: +5 min

Costs have risen the most on multifamily properties such as apartments and condos, according to industry executives and data from credit ratings agency Moody's. Property insurance costs to multifamily assets in Florida have gone up anywhere from 30% to 70% in the past year, and are even higher for those with prior losses, non-renewing insurance carriers or valuation issues, she said. Nationally, CRE properties' insurance costs have grown roughly 7.6% annually on average since 2017, according to an August Moody's report. RENTS, CAP RATESRising insurance premiums on multifamily properties have contributed, among other factors, to rent increases in Florida and elsewhere, said three industry executives. Insurance costs are also forcing CRE lenders to boost due diligence on refinancing and when pricing deals on apartment blocks, executives said.

Persons: Daniel Hokanson, Ian, Kevin, Idalia, Walker, Dunlop, you’re, Willy Walker, multifamily, Ryan Barber, Marsh, Martha Bane, Gallagher, Bane, Matt Tracy, Michelle Price, Marguerita Choy Organizations: U.S . Army National Guard, . National Guard Bureau, REUTERS, Florida, Carolinas, Reuters, Walker, UBS, Insurance, Thomson Locations: Fort Myers, Fort Myers , Florida, U.S, Hawaii's, Maui, Lahaina, California, Florida, Miami, Tampa, Orlando

☆ A real-estate investor and realtor shares 2 pieces of advice for buying a rental property amid high mortgage rates — including the pros and cons of single-family homes, multifamily properties, and con
▼ + stars: | 2023-08-31 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Maryland realtor Bill Armstrong says now could be the time to get into an adjustable-rate mortgage. With mortgage rates back above 7% and home prices still high, it's not necessarily the greatest time to buy a rental property. But in every kind of market, there are opportunities, says Bill Armstrong, a realtor in Frederick, Maryland. The first piece of advice he gave is to consider getting an adjustable-rate mortgage as opposed to a fixed-rate mortgage. This means they know the market you're looking in well, but aren't considering deals for themselves first, he said.

Persons: Bill Armstrong, isn't, it's, Armstrong, that's, townhomes, you've Organizations: National Association of Realtors, Federal Reserve Locations: Maryland, Frederick , Maryland

☆ A key stat suggests the housing market won't see 'cascading' price drops anytime soon
▼ + stars: | 2023-08-28 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Fannie Mae reported that the single-family serious delinquency rate is down 0.54% in July. Housing expert Bill McBride pointed to the data as reason not to expect widespread home price declines. AdvertisementAdvertisement"Freddie's serious delinquency rate peaked in February 2010 at 4.20% following the housing bubble and peaked at 3.17% in August 2020 during the pandemic," McBride wrote. Single Family Serious Delinquency Rates Calculated RiskThe decline in serious delinquencies point to low rates of foreclosures, which in turn suggest stable prices. The dynamic was on display in 2008, when a wave of bank foreclosures dragged the US housing market down, with prices plummeting as much as 20% in parts of the country.

Persons: Fannie Mae, Bill McBride, Freddie Mac, McBride Organizations: Service Locations: Wall, Silicon

☆ Goldman Sachs says buy this little-known real estate name with 20% upside
▼ + stars: | 2023-08-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Real estate investment trust Safehold is trading at attractive levels, and investors need to scoop up the stock, according to Goldman Sachs. The company owns, acquires and originates ground leases, and has stable cash flows through fixed payments and contractual rent increases. Unlike its other real estate investment trust peers, Safehold's primary earnings metric is per-share earnings, rather than funds from operations per share. "The company originates ground leases at conservative 35-40% LTVs (versus the value of the land and the building). To be sure, Burrows noted that transactions and investment volumes have "slowed meaningfully" due to rising interest rates.

Persons: Goldman Sachs, Caitlin Burrows, Burrows, Safehold, — CNBC's Michael Bloom

☆ TikTok influencers want to rent you a very cool home. Just don't call them landlords.
▼ + stars: | 2023-08-16 | by ( James Rodriguez | ) www.businessinsider.com time to read: +15 min

While live-in landlords are far from a novel concept, the pandemic-era fever around passive income and real-estate investing has sparked a rise in the popularity of house hacking. While Turner's initial strategy emphasized small multifamily buildings, some house hackers applied the concept to single-family homes. In 2019, he published a book called "The House Hacking Strategy: How to Use Your Home to Achieve Financial Freedom." And I think house hacking is one obvious way to eliminate, or at least drastically reduce, what likely is your largest expense." "Yeah, it's called 'house hacking," the owner and roommate, also played by Jarman, who has 4 million followers, replies.

Persons: Kelly Clark, Clark, scoffed, TikTok, Zers, Brandon Turner, Turner, Ryan Lehman, Lehman, Brandon, I'm, Craig Curelop, BiggerPockets who's, Curelop, influencer Addison Jarman, renter, it's, Jarman, Jay Parsons, John Liang, TikToker, Liang, —, It's, doesn't, Insider's Daniel Geiger, she'd, James Rodriguez Organizations: Federal Housing Administration, BiggerPockets, Census, YouTube, RealPage Locations: Spokane , Washington, Silicon, millennials, Seattle, Spokane

☆ Bank of America breaks down the 4 cities facing the biggest housing shortages right now — and the 3 where there's still plenty of room
▼ + stars: | 2023-08-08 | by ( Mark Reeth | ) www.businessinsider.com time to read: +7 min

A recent report by the Bank of America Institute compared population with housing supply. San Antonio, Dallas, Orlando, and Houston have high population growth and low housing supply. Anna Zhou, an economist at the Bank of America Institute, said in a recent report that housing supply is unusually constrained right now, as measured by months' supply. Finally, cities in the upper-left quadrant identified in red have high housing supply but a declining population, putting them in the "cold" group. Zhou highlighted San Antonio, Dallas, Orlando, and Houston as among the "hot" cities experiencing high population growth coupled with low housing supply.

Persons: Anna Zhou, Zhou, That's, US . Bank of America Zhou Organizations: Bank of America Institute, Houston, Bank of America, National Association of Realtors, US . Bank of America, BofA Global Research, Jacksonville, Las Vegas, Portland , Oregon ., Portland , Oregon . Los Angeles Locations: San Antonio, Dallas, Orlando, Cities, Tampa, Jacksonville, Antonio, Houston, 2Q24, St, Louis, Detroit, Miami, droves, Jacksonville , Florida, Columbus , Ohio, Charlotte, Nashville, San Francisco , New York, Boston, Portland , Oregon, Portland , Oregon . Los

☆ Morgan Stanley: These are the 5 key themes shaping the housing market for years to come, and the 5 stock-market industries filled with opportunities and pitfalls investors need to watch for
▼ + stars: | 2023-08-02 | by ( Mark Reeth | ) www.businessinsider.com time to read: +8 min

Morgan Stanley economists see a stronger housing market cycle and interest rates being cut in 2024. Luckily, Morgan Stanley strategists think the housing market is finally reaching a turning point. That will mark the end of the current craziness and the beginning of a new housing market cycle. As for the US industries and stocks connected to the housing market, Wilson noted that tomorrow's market will bring about different winners and losers. Higher interest rates mean higher mortgage rates, and higher mortgage rates mean lower demand for mortgages.

Persons: Morgan Stanley, Mike Wilson, Wilson, homebuyers, there's, isn't, Morgan Stanley Wilson Organizations: Housing Locations: homeownership, rentership

While an ISM survey offered a tough assessment of U.S. manufacturing conditions, so-called hard data suggest the sector is shuffling along. Federal Reserve data in June showed factory production rebounded in the second quarter, ending two straight quarterly declines. Meanwhile, U.S. construction spending increased solidly last month and May's data was revised higher, boosted by outlays in both single and multifamily housing projects, the Commerce Department said. China's Caixin/S&P Global manufacturing purchasing managers' index (PMI) missed analysts forecasts and showed the first decline in activity since April. Money markets now see a 60% probability that the Bank of England will hike rates by 25 basis points on Thursday.

Persons: Dado Ruvic, Steven Ricchiuto, Carlos Casanova, Kit Juckes, Sterling, Herbert Lash, Joice Alves, Ankur Banerjee, Alex Richardson, Hugh Lawson, Alexander Smith Organizations: REUTERS, Reuters, Federal, outlays, Commerce Department, Labor, Survey, Labor Department, Mizuho Securities USA, Reserve Bank of Australia, Bank of Japan, U.S, Natixis Investment, P Global, European Central Bank, ECB, Societe Generale, Bank of, Thomson Locations: Asia, Hong Kong, U.S, Bank of England, London, Singapore

☆ A real-estate investor with 150 units says he almost quit after problems like termites, flooding, and tenants selling drugs. He shares 4 tips for overcoming them — and why investing is still '100%' wo
▼ + stars: | 2023-08-01 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

Guido Nunez almost quit real-estate investing after facing several problems in one of his buildings. Nunez said having cash reserves and a Rolodex of contacts can help landlords overcome problems. Being a landlord for multiple multifamily properties, Guido Nunez has had to deal with his fair share of problems. One building in particular was a nightmare, Nunez says, and almost caused him to quit real-estate investing altogether. Finally, Nunez said to try to learn more about particular problems you face, even if you can't fix it yourself.

Persons: Guido Nunez, Nunez, he's

☆ Rent growth has plummeted to a two-year low as inflation continues to cool — and apartments in these 38 cities are getting more affordable fastest
▼ + stars: | 2023-07-30 | by ( James Faris | ) www.businessinsider.com time to read: +2 min

Here are 38 cities where rent is cheaper than it was last year, according to Zumper. ZumperLower rent growth comes as inflation falls from multi-decade-highs. While rent growth is modest compared to the double-digit rates of 2022, renters are contending with an affordability crisis, Zumper's researchers noted. That's a recipe for lower rent growth, but not a dramatic dip. Along with each city are its year-over-year and month-over-month rent changes, average rent price, and national rent ranking among the largest 100 US cities.

Persons: Anthemos Georgiades, Lofty, Georgiades

☆ Real-estate investor Guido Nunez has built a portfolio of 150 units across multiple multifamily properties. He shares the refinancing and tax strategies he's used to continually snowball his wealth.
▼ + stars: | 2023-07-27 | by ( William Edwards | ) www.businessinsider.com time to read: +4 min

To scale up, he's used the BRRRR method and 1031 exchanges. One example of how Nunez has used the BRRRR method involves a property in Long Beach, California that he bought in 2015. For the 1031 exchange approach, Nunez did the same thing: he fixed up properties, forcing appreciation in them. To allow him keep all of the value he'd built up and not get taxed on it, Nunez used a 1031 exchange and bought other properties. When he believes he's maxed out a properties appreciation, he uses a 1031 exchange as opposed to a cash-out refinance.

Persons: Guido Nunez, he's, Guido Nunez's, Guido wasn't, He's, It's, Nunez, Dave Wieland — Organizations: Capital Locations: Long Beach , California

New York CNN —In mid-July at the construction site at 1 Java Street in Brooklyn, New York, the outside temperatures can reach sweltering highs in the 90s. Geothermal technology is essentially a more eco-friendly version of an HVAC system, allowing the building spaces and water to be cooled and heated more efficiently, without traditional window AC units and natural gas. 1 Java Street in Brooklyn will use a geothermal sytstem for heating and cooling. In the winter, when the underground temperature exceeds the surface air temperature, water is used to transfer heat from the ground to building interiors; the process is reversed in the summer. Installing the building’s geothermal system increased construction costs by around 6%, according to Madi, and required securing equipment and trained manpower that remains relatively scarce.

Persons: New York CNN —, it’s, Biden, Layth Madi, Lendlease’s, “, ” Madi, ”, Adam Alaica, ” Alacia, — Madi, York —, Alacia Organizations: New, New York CNN, New York State, International Energy Agency, CNN, Marvel, Lendlease, Geosource Energy Locations: New York, Brooklyn , New York, Greenpoint, Brooklyn’s, New York City, Brooklyn, Madi, York

☆ Passive House designs could cut your energy bill in half
▼ + stars: | 2023-07-27 | by ( Catherine Boudreau | ) www.businessinsider.com time to read: +4 min

One way is through designing buildings and residences using Passive House standards, a green building-certification program focused on energy efficiency. Developers are interested in how Passive House buildings can help save energy, emit fewer greenhouse gasses, and deliver lower utility bills. A Passive House is more akin to a thermos," Ken Levenson, the executive director of the Passive House Network, a nonprofit that educates the real-estate and construction industry on the standards, said. Passive House standards don't require that electricity come from renewable-energy sources, but they do encourage it, Levenson said. He said there weren't any major cost increases due to designing to Passive House standards.

Persons: Ken Levenson, Levenson, Kent Gonzales Organizations: Service, Passive House Network, Residents Locations: New York, Massachusetts, Europe, Newton , Massachusetts, Northland, New York City, Boston

☆ The last, best hope for homebuyers
▼ + stars: | 2023-07-19 | by ( James Rodriguez | ) www.businessinsider.com time to read: +12 min

But there may be one last hope for salvation for these hard-pressed homebuyers: brand-spanking new houses. Many builders are even dangling perks like cheaper loans or other discounts to ease the pain of higher mortgage rates. Homebuilding is typically a cyclical industry, following the ups and downs of the broader housing market. Of course, people will always move for reasons that have nothing to do with mortgage rates. Even if buyers get some relief from new housing construction, builders are still a long way off from bridging the housing shortfall.

Persons: Richard de Chazal, William Blair, de Chazal, Realtor.com, bottoming, John Burns, Black Knight, Mike Simonsen, Simonsen, bode, it's, Sheryl Palmer, Taylor Morrison, Palmer, Cristian deRitis, Jay Parsons, Matthew Walsh, Walsh, Freddie Mac, Lawrence Yun, They're, production's, James Rodriguez Organizations: Federal Reserve, National Association of Realtors, John Burns Research, Consulting, Altos Research, National Association of Homebuilders, Builders, Moody's

☆ Construction on new homes snaps uptrend, hitting key source of new supply
▼ + stars: | 2023-07-19 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Construction on new single-family homes fell 7% to a seasonally adjusted annual rate of 935,000 units. Multifamily housing starts fell 11.6% to 482,000 units, the lowest since December. Meanwhile, multifamily housing starts dropped to 11.6% to 482,000 units, hitting the lowest rate since December. In fact, new construction made up almost a third of active listings in May, while pending sales of existing homes fell 2.7% month to month. But a drop in US bond yields should offer some relief for mortgage rates and the housing market.

Persons: Danushka Organizations: Service, National Association of Home Builders Locations: Wall, Silicon, Federal

☆ I'm a first-time property investor who grew my portfolio to $5.5 million in 3 years. Here's how I did it with minimal savings.
▼ + stars: | 2023-07-17 | by ( Salina Jivani | ) www.businessinsider.com time to read: +8 min

He now has a portfolio worth $5.5 million that generates tens of thousands in rent a month. The course gave me the confidence and knowledge to eventually build a real-estate portfolio worth £4.2 million, or about $5.5 million, in three years. For example, if the equity on the property I was completing was £50,000 short of what I needed to purchase the next property, I'd reach out to my network and crowdsource it. My current portfolio's valuation is nearly £4.2 million, with £1.2 million of that comprising my equity and the rest belonging to the bank. Because of the desirable locations, generally when one tenant moves out of a property another moves in within a week.

Persons: Alfred Dzadey, I'd Organizations: Service, Jaguar, Rover, Investors Locations: Wall, Silicon, Coventry , England, Coventry , West Midlands, Coventry

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