Your Daily Digest for Real Estate Investing, 7/9/21
Condominium collapse points to opportunities out of tragedy, forbearance and mortgage applications falling in a still hot market. Millionacres writers share their experiences with rental housing and REIT investing.
In today’s news
The Surfside condo collapse could reshape the Miami real estate market
“Now you’re going to see condominium cancellations, with developers buying up old buildings, demolishing them and building new ones,” a real estate agent told NBC News.
The Millionacres Takeaway: The long-term aftermath of the Surfside tragedy is only just beginning to emerge as the dire task of recovery continues.
From the housing market
Black Knight Reports Significant Improvement in Active Forbearance
Black Knight reported today that the number of homeowners in indulgence fell below 2 million for the first time since early April 2020.
The Millionacres Takeaway: The decline is being driven by the expiry of 15 month forbearance plans, and now we’ll see if that is accompanied by a significant increase in foreclosures.
Pre-pandemic mortgage apps: Is the shopping frenzy over?
The Mortgage Bankers Association this week reported a slowdown in activity on requests for mortgage purchases and refinancing.
The Millionacres Takeaway: Our Liz Brumer thinks this is a slip up, not a trend, and explains why she believes the hot housing market will stay that way, at least for the near future.
Investment Firms Grab Houses In These Markets: Should You Do This?
Our Laura Agadoni says she’s never lost a deal to a mega-buyer like Invitation Homes (NYSE: INVH), but other mom-and-pop landlords like her and first-time home buyers have market in their greater Atlanta area.
The Millionacres Takeaway: Interestingly, Laura points out that she is regularly asked by potential tenants if she owns the apartment because they don’t want to deal with problematic institutional landlords. It also explains why you should look where these large dogs are hunting.
Also on Millionacres
How many REITs should I own?
It’s back to school with former high school teacher Matt Frankel, an accomplished investor and CFP with an eye and heart for real estate. Here he explains why you have many or few Real Estate Investment Trusts (REITs) in your portfolio.
The Millionacres Takeaway: Matt says there really aren’t any wrong answers as long as the approach makes sense given your risk tolerance and personal investment goals.