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☆ 10 money managers who quietly control the vast fortunes of Jeff Bezos, Sergey Brin, the Waltons, and other big-name billionaires
▼ + stars: | 2022-12-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +24 min

Many über-rich people don't outsource their wealth — they hire their own chief investment officers. He left SAC in 2005 for Dune Capital Management, but stayed in touch with Steve during his five-year term at the investment firm. Andrew oversees CPV's portfolio, which primarily comprises direct private investments such as Collectors Universe, a collectibles-authentication company, and the New York Mets. In 2011, Wildcat Capital Management was launched with Potter as president and chief investment officer. Since November 2021, Carland has also served as the interim chief investment officer for Builders Vision's asset arm.

☆ Wall Street landlords who've stockpiled $110 billion are lying in wait for their biggest American home-buying spree yet
▼ + stars: | 2022-12-22 | by ( James Rodriguez | Daniel Geiger | ) www.businessinsider.com time to read: +11 min

Institutional investors have earmarked as much as $110 billion to buy or build single-family homes. Institutional investors now own about 3% of the roughly 20 million single-family-rental homes in the US, according to Roofstock, an online marketplace for single-family investment properties. That would be nearly 9% of the roughly 88 million single-family homes in the US, according to the Census Bureau's most recent statistics from 2020. Better deals expected in the years aheadThere are signs the institutional investors won't have to wait long to begin buying. That leaves between roughly $70 billion and $80 billion that could still flow into the sector.

☆ 8 people share how they use Facebook groups to score freebies and market their businesses
▼ + stars: | 2022-12-21 | by ( Sonah Lee-Lassiter | ) www.businessinsider.com time to read: +10 min

Users turn to these groups for career advice, upcycling belongings, parenting tips, and even to market their small businesses. Learning new thingsCassier Weiner is in more than 50 mostly hobby-based Facebook groups. Sarah Dahan, an online community strategist, said the root of a thriving community online and offline is maintaining a consistent value system. Facebook doing its partJonathan Twombly runs a real-estate business through his Facebook group "Multifamily Investment Community," which has about 12,000 members. "Facebook groups are very underutilized by people my age," Kim said.

☆ The CEO of one of America's biggest homebuilders said we're already in a 'housing recession,' and there are two other key signs that the real-estate market is still cooling
▼ + stars: | 2022-12-20 | by ( Robert Davis | ) www.businessinsider.com time to read: +3 min

Sheryl Palmer, CEO of Taylor Morrison, says the US is already in a housing recession. Some economists still aren't buying into the housing recession narrative. In 2023, Palmer said homebuyers should expect overall inventory volumes to drop as buyers scoop-up existing homes. Palmer's comments come on the heels of other business heads who expect the US housing market to have a tough year in 2023. But not everyone agrees that the US housing market is in a recession, or that it will face one in 2023.

☆ Homebuilding has more room to fall, and odds for a recovery are 'next to nil' until demand improves, economist says
▼ + stars: | 2022-12-20 | by ( Brian Evans | ) www.businessinsider.com time to read: +2 min

Homebuilding has room to fall further even after the latest drop in housing starts, according to Pantheon Macroeconomics. Senior US economist Kieran Clancy wrote in a Tuesday note that demand needs to improve before a recovery can begin. New housing data showed single-family home starts declined 4.1% last month. Meanwhile, building permits plunged 11.2%, with single-family permits down 7.1% and multifamily down 17.9%. Clancy added that the likelihood of a homebuilding recovery remains "next to nil until housing demand improves in a sustained and meaningful way."

☆ A real-estate investor who owns 9 commercial properties explains how he retired at 32 after just 5 years of investing by branching into commercial properties over residential — and shares where he see
▼ + stars: | 2022-12-18 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +14 min

Justin Sloan retired at 32 years old, just five years after he started investing in real estate. Sloan did this by branching out to commercial real estate, which he prefers over residential. Buying his first residential propertySloan began researching other investable assets such as franchises and municipal bonds, but found the idea of real estate investing especially appealing. "I was that naive to the idea that you could hire someone else to take care of your real estate." That same year, he stopped opening more cell phone stores, and instead directed all his revenue towards real estate investing.

☆ Millennials bought an abandoned high school for $100,000 and turned it into a 31-unit apartment building—take a look inside
▼ + stars: | 2022-12-16 | by ( Celia Fernandez | ) www.cnbc.com time to read: +5 min

When an abandoned high school was listed for sale in Munhall, Pennsylvania, three real estate partners saw an opportunity to completely transform the space. When an abandoned high school in Munhall, Pennsylvania, was listed for sale in 2019, Jesse Wig saw an opportunity. Dan Spanovich (left), Jesse Wig (middle), and Adam Colucci (right) bought the abandoned high school in 2019. The former high school classrooms became new, modern apartments and the auditorium turned into a shared space. The plan is for the second high school to have 33 residential units, consisting primarily of one-bedrooms and some studios.

☆ A real-estate investor who owns 9 retail properties explains why he transitioned from residential to commercial properties for cash flows and capital appreciation
▼ + stars: | 2022-12-11 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +7 min

Justin Sloan recently finished offloading his residential real estate for commercial properties. Commercial properties are Justin Sloan's bread and butter, but that wasn't the case when he started investing in real estate over 10 years ago. Commercial properties offer 'more predictable business models'Sloan clarified that while he's a "big believer" in multifamily real estate investing, he prefers investing in commercial real estate for a multitude of reasons. Not all commercial properties are created equalHowever, commercial real estate doesn't come without its share of drawbacks. But not all commercial properties are created equal, and landlords can certainly mitigate their portfolios against these losses.

☆ One of New York's largest commercial landlords is spending $1.5 billion to convert office buildings into apartments as office vacancy rates remain elevated
▼ + stars: | 2022-12-10 | by ( Robert Davis | ) www.businessinsider.com time to read: +5 min

Prior to the pandemic, office buildings were the lifeblood of central business districts across the country. For example, data from commercial real estate giant CBRE shows that about 25% of all New York's offices remain available for lease while other markets, like San Francisco and Boston, face similarly high vacancy rates. Silverstein's move also comes at a time when commercial real estate property values are declining. According to a November study from RentCafe, developers created more than 28,000 apartments through conversion projects in 2021, an increase of 25% when compared to 2020. Sage acquired Econo Lodge and a Travel Lodge in Tacoma, Washington for $14.2 million and plans to convert both buildings into apartments.

☆ There is ‘enormous opportunity’ in REITs, if you choose wisely, says Gilman Hill’s Jenny Harrington
▼ + stars: | 2022-12-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Real estate investment trusts are having a bad year. Blackstone recently had to limit withdrawals from its retail real estate fund , BREIT, for November and December. "I don't think that you are doing yourself a service to make the broad-based statement, 'commercial real estate is bad.'" The time to get out of REITs, I would say, is when interest rates are going up," he said on "Halftime Report." The key to investing is to sort through the sector and choose wisely, Harrington added.

☆ Airbnb Aims to Attract Big Landlords With a Cut of Its Rental Sales
▼ + stars: | 2022-11-30 | by ( Konrad Putzier | ) www.wsj.com time to read: 1 min

Airbnb Inc. is launching a listing service for rental apartments with some of the biggest landlords and property managers in the country, a bid to expand its business in multifamily buildings where owners often shun short-term rentals. The new service will feature more than 175 buildings managed by Equity Residential , Greystar Real Estate Partners LLC and 10 other companies, Airbnb said on Wednesday.

☆ This 31-year old investor nearly quadrupled his multifamily housing empire from California to Texas in just 3 years
▼ + stars: | 2022-11-30 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Sean Kia is one of Insider's Rising Stars of Real Estate for 2022. He applies the Ford production model to real estate. Just three years ago, Tides owned $2 billion in the apartment properties. He's been checking those boxes since he got a start in Phoenix, which became home to some of the company's bread-and-butter investments. The typical renter had been paying only 20% of their income on rent, which represented "really good affordability," Kia said.

☆ "We're still early days in this downturn": A portfolio manager at Lazard reveals the 3 asset classes that will provide investors with the steadiest returns as recession fears mount — and shares 3 high
▼ + stars: | 2022-11-28 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +6 min

But in a year like 2022 when stocks are down, real assets can suddenly look a lot more attractive to investors. On the other hand, real estate has been a relatively weak performer this year due to its inverse correlation with interest rates. Year-to-date the Lazard Real Assets fund is beating 85% of its peers, down 5.7% versus its category average of a negative 12% return. "It's gone from a second-class in the real estate space to now an integral part of the supply chain," he explained. Finally, in the infrastructure space McGoey highlighted Targa Resources (TRGP) as a key midstream player.

☆ A real estate investor with a 178-unit portfolio worth $50 million explains why he expects housing prices to fall within the next 6 months — and says higher interest rates won't eviscerate new homebuy
▼ + stars: | 2022-11-25 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +5 min

Higher interest rates aren't that big a deal, Ahmed Seirafi, a real-estate investor, said. Seirafi said he believed housing prices would fall in the next six months. Rising interest rates have spooked would-be real-estate investors, bringing down home prices and cooling the red-hot housing market. Even though decades-high inflation is finally showing signs of moderation, the Federal Reserve is unlikely to start cutting interest rates in the immediate future. Housing prices are due for a correctionBecause Seirafi doesn't take rising interest rates into too much consideration, he's not that worried about a dearth of investment opportunities.

☆ "There's more opportunity now than in the last 10 years": A real estate investor with a 178-unit portfolio shares why it's crucial to get in within the next 6 months — and offers his 4 best pieces of
▼ + stars: | 2022-11-20 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +8 min

Ahmed Seirafi is a real estate investor with over 20 years of experience and a 178-unit portfolio. Shortly thereafter, he began to pursue real estate investing full time. Now's the time to begin investing in real estateFor those interested in real estate investing, Seirafi believes that it's crucial to start sooner rather than later. But with more opportunities for real estate investors comes more potential pitfalls. "There's a million different ways of making money in real estate — there really is, and everybody makes money in real estate when they focus and stick to a lane," he said, explaining that this is the reason he's offloading his office retail buildings in favor of more multifamily and industrial developments.

☆ Rent growth slows to the lowest level in 18 months
▼ + stars: | 2022-11-17 | by ( Diana Olick | In Dianaolick | ) www.cnbc.com time to read: +4 min

Rents in October rose 4.7% compared with October 2021, the slowest annual increase in 18 months, according to Realtor.com. The largest gains in rent were in two-bedroom units, as tenants looked for more space in the new work-from-home economy. Rent growth annually has now been slowing for nine straight months and has been in the single-digits for the past three months. Single-family rent growth has been shrinking for the past five months, but is still in the low double-digits, according to CoreLogic. The pressure on multifamily rents is trickling down to both builders and investors.

☆ Great American Land Rush: US Needs Lots of Land for Green Energy, Housing
▼ + stars: | 2022-11-15 | by ( Matthew Kahn | Robert Huang | ) www.businessinsider.com time to read: +14 min

Will we cover 75% of California with green energy tech? Given these existing technological limitations and regulations, the aggregate demand for land to power our future green economy is huge. We would need 120,000 square miles, or 77 million acres, of land to install the wind and solar facilities for the energy transition. As cities expand, rising land prices in these areas would further constrain the location options for green energy generators. The political backlash in rural America could be alleviated if the economic gains from green power are large enough.

☆ The housing-affordability crisis is sparking startup founders, Wall Streeters, and nonprofit leaders to try to offer new solutions
▼ + stars: | 2022-11-15 | by ( Hana R. Alberts | Jordan Pandy | ) www.businessinsider.com time to read: +6 min

Some innovations may help homebuyers, renters, and investors cope with the affordability crisis. 100 People Transforming Business is an annual list highlighting people across industries who are changing the way the world does business. Mortgage rates have topped 7%, the highest rate in 20 years, which means homebuyers can afford less house for their money. That's why many people and companies in the real-estate industry are trying to help homebuyers, renters, and investors cope with an affordability crisis. That's where the Washington, DC, nonprofit Grounded Solutions Network comes in: It says it helps repurpose "vacant space into vibrant space."

☆ The 10 most expensive ZIP codes in the U.S.
▼ + stars: | 2022-11-12 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

For the third straight year, Atherton, California, is the most expensive ZIP code in the U.S. to own a home. Near Stanford University, and home of tech executives and venture capitalists, Atherton has resisted development of multifamily properties, which has kept homes large and exclusive. In second place is Sagaponack, New York, an enclave of a few hundred residents in the Hamptons, followed by the posh Bel Air neighborhood in Los Angeles. Third place is perhaps the most famous ZIP code in the U.S.: 90210 — namesake of the '90s teen melodrama "Beverly Hills, 90210." Below are the 10 most expensive ZIP codes in the country, ranked by median home sale prices:

☆ Colorado homebuyers are gaining the upper hand in cities like Denver, where prices fell 10% since spring, but properties in ski towns are not getting any cheaper
▼ + stars: | 2022-11-11 | by ( Robert Davis | ) www.businessinsider.com time to read: +5 min

Colorado ski towns are struggling with low housing inventory, which is keeping prices high. The numbers suggest that while the Denver housing market appears to have peaked in April, median sale prices are still up year-over-year. Other popular ski towns like Frisco, Dillon, and Aspen have also passed similar laws. Other popular ski towns like Glenwood Springs and Estes Park are having similar struggles, the report suggests. Meanwhile, the average price of single-family homes in Estes have increased by 14.8% since October 2021 while the price of condos have jumped by 11.8%.

☆ Austin, Texas locals have been priced out by wealthy out-of-state tech workers. Now the government is stepping in.
▼ + stars: | 2022-11-10 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +4 min

A new $350 million housing bond is intended to help Austinites struggling with the high cost of living. The tax-supported housing bond, named Proposition A — which will cost the typical homeowner an additional $45 a year in property taxes — is the city's largest housing bond to date. According to Austin eligibility guidelines, families earning 80% or less of the area median income are considered low-income. However, in 2023 most of the fund has nearly dried up — at a time in which the city's cost of living has risen to astronomical levels. "This is the third housing bond that this city has passed in the last eight years, 10 years," Adler told KXAN News.

☆ Remaking the River That Remade L.A.
▼ + stars: | 2022-11-10 | by ( Michael Kimmelman | Photographs Adali Schell | ) www.nytimes.com time to read: +33 min

Remaking the River That Remade L.A.February 1938 was a wet month in Los Angeles. Reservoirs overflowed, dams topped out and floodwaters careered down Pacoima Wash and Tujunga Wash toward the Los Angeles River. The Los Angeles River was never a storybook river of the kind that, like the Hudson or the Seine, we associate with great cities. Among the naysayers is a venerable organization called Friends of the Los Angeles River, founded by the Texas-born poet and performance artist Lewis MacAdams. “With all the problems L.A. is facing,” he said, “even if it costs $50 billion to fix the river, we should just effing do it.”The headwaters of the Los Angeles River aren’t easy to find.

☆ Apartment conversions jumped 25% over the past two years, meaning that swanky place you're renting likely used to be an office space, hotel room, or church.
▼ + stars: | 2022-11-08 | by ( Robert Davis | ) www.businessinsider.com time to read: +4 min

Developers converted more old buildings into rentals than ever before between 2020 and 2021. Developers are targeting a range of building types, from office buildings to churches. That represents a 25% increase over the more than 22,300 apartments developers converted between the years of 2018 and 2019, prior to the pandemic. "Larger office buildings in abandoned central business districts are better suited to conversion than the often-smaller office complexes distributed around the suburbs." Local governments have gotten behind the trend by creating incentives for conversion projects.

☆ October job growth could be slowest in nearly 2 years, but unemployment remains extremely low
▼ + stars: | 2022-11-02 | by ( Patti Domm | In | ) www.cnbc.com time to read: +4 min

Economists expect 205,000 jobs were added in October, and forecast the unemployment rate stayed at 3.5%, according to Dow Jones. That compares to job growth of 263,000 in September. Job squeeze seen, but not yetEconomists expect rate hikes will eventually slow the economy enough to crimp the job market. He expects 170,000 jobs were added, which would be the slowest job growth since there was an actual contraction in payrolls in December 2020. "We added 3.8 million jobs year-to-date, and it's the second strongest annual number since 1984," she said.

☆ The founder of a real-estate investing platform highlights the 3 most attractive cities in the southeast right now, explains what's so appealing about them, and offers predictions for the coming month
▼ + stars: | 2022-10-29 | by ( Morgan Chittum | Kathleen Elkins | Aj Latrace | ) www.businessinsider.com time to read: +6 min

Real estate investment platform Cadre identified the most valuable places for investing right now. Institutional money has made big waves in residential real estate over the last year, with each quarter seemingly setting a new record for the number of homes purchased by investors versus regular individuals. A year ago, some of the most popular places for investors included southern cities such as Atlanta, Charlotte, and Jacksonville. Raleigh, Charlotte, and NashvilleRaleigh, Charlotte, and Nashville are some of the top growing cities for industrial, commercial, and multi-family real estate, Williams says. These fundamentals are what make these three metros strong candidates for continued investment in various asset classes — particularly residential real estate — in the coming years, he suggests.

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