Smartphones are so handy. We use them to connect with the world around us—through news, social media, and...okay, maybe a little bit of Candy Crush, too. There are also tons of tools out there to increase productivity and keep track of all of things life throws at us. Not everyone thinks to effective utilize their devices for work, though.
If it seems like we spend a lot of time talking about millennials (your present day 20-to-30-somethings,loosely put), it’s because, well...they’re important! Millennials are the our recent graduates and increasingly the face of our workforce. They’re getting degrees, securing careers and settling down, just like the generations before them.
To the untrained eye, despite murmurs of student debt ceilings and employment rates, it might seem that millennials are just like the generations before them. But there’s a point that we as real estate investors need to pay mind to when it comes to millennials:
Millennials are holding the real estate market back.
At first glance, that statement seems to be blaming millennials. It’s really not. We keep talking about it because the state of millennials, both economically and in their mindset, continues to shape modern economics and markets whether we like it or not. While millennials aren’t entirely responsible for the sluggish real estate market, many proport that if they’d just buy homes already, the market could make a full recovery.
Unfortunately, it’s just not that simple.
Have you ever labeled yourself as a procrastinator? Procrastination can show up in a lot of different ways and stems from plenty of reasons — but it’s never good. Whether you feel that you “work better under pressure” or just can’t muster the will to get things done, procrastination isn’t as harmless as it may seem.
“As long as it gets done,” is reasoning that only goes so far. For real estate investors, this can be the kiss of death as it leads to missed opportunities, deferred maintenance and lost tenants.
Procrastination is not simply taking a few minutes to goof off here and there. We all waste time at one point or another and call it procrastination because we’re supposed to be doing something out. But real trait procrastination is much more insidious. It’s a chronic, harmful delay that affects about 20% of the population.
Need to sit down and catch up on your reading? We’ve saved you the trouble of surfing the web by compiling a list of some real estate news and helpful real estate articles for investors to take to heart this week.
Topics: real estate news
Now more than ever, kids are going to college. With so many students, it’s no surprise that colleges and universities across the country are filling up and students are on the hunt for off-campus or privately-owned housing.
For real estate investors, there’s often a negative association with renting to students — we think of loud house parties, irresponsible tenants and property damage. While, no doubt, there are some risks involved with renting to this unique demographic, it can also be very profitable.
The fact is, the demand is there. The question is if we as investors are going to do anything about it.
Topics: renting to college students
Does the idea of growing your portfolio sound appealing? We've surveyed the real estate investors at Memphis Invest and for most, it does! Real estate investors should be able to have a strategy for future growth and look forward to a flourishing, successful business. That said, there’s a danger in growing too quickly. The best way to set yourself up for success in real estate investment is to maximize the efficiency of what you have, whether it’s two properties or twenty.
When you have investing in real estate down to a fine art and everything is working as well as it can, then talk about adding more investment properties to the mix.
It’s time again for your weekly dose of must-read real estate news! For real estate investors, constantly brushing up on current events and expanding your knowledge is a vital part of being the best investor you can be. From big real estate news to advice and little-known facts, we’ve gathered some of the most recent, relevant real estate articles from around the web.
We hope you learn something new!
Topics: real estate news
In real estate investment, there’s a lot of talk about business. This is a business. That is a business. Be professional. All of that is absolutely true, of course — but the idea of “business” comes with some dangers.
There is a certain level of objectivity that business demands, of course. We have to be honest with ourselves and be careful of letting opinions and feelings muck things up. But these days, businesses are changing.
We don’t live in a decade where the rat race is applauded, where ‘look out for number one’ is the mantra, or where we chase profits no matter who we step on along the way. Our business strategies are changing.
Topics: business strategies
The economy is in recovery. We think we can say that fairly, especially in comparison to the state of things these past few years. That said, it hasn’t recovered. While we tend to zoom in on the real estate market, it’s conditions are closely tied to the overall economy — wages, job growth, and so on.
It’s true, jobs have been created. But one of the biggest issues facing working Americans — and those of us in real estate — is that of wage stagnation.
Even if we have more jobs, if those jobs aren’t paying enough or changing with inflation, it creates problems.
Topics: real estate market
There are so many real estate investment blogs out there — and so little time! For busy investors looking to take a quick reading break, look no further than our list of recommended reading for the week. From advice and investment tips to news from Memphis, Dallas and Houston, we’re highlighting the stuff you should check out.
So sit back, take a break and click away.
Topics: real estate news