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The 2024 Outlook For Real Estate Wholesalers

by blogger1
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on Tuesday, 31 October 2023
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What’s in store for real estate wholesalers in 2024?


Once again, the main theme of the year may be uncertainty. At least on the macro level. As well as especially when it comes to home prices and conventional retail home buyer activity.


However, what we do know for sure is that there are several factors influencing the economy and real estate in particular. As well as the opportunities they are likely to create.


Though it may not be until after the 2024 presidential election that real estate pros enjoy more clarity on the direction of the economy and property market, and are able to best plan, strategize and forecast their finances for the following four years.


Factors Impacting The Market For 2024

In 2024 we can expect to see the following factors influence the real estate market:


The impact of recent high inflation on living costs.

Living in a period of high interest rates.

AI and fast rising unemployment.

The ripple effects of escalating consumer distress.

Volatility in the stock market.

A high probability of new national or global crises.


Opportunities For Real Estate Wholesalers In 2024

The above is going to show in through a variety of opportunities for real estate wholesalers.


Firstly, we can expect a lot more distressed property acquisition opportunities, with highly motivated sellers who need to sell very fast.


The wealthy who are benefiting from recent trends will need to put more of their money into real estate to protect it. Both in the form of luxury residences and income properties.


Among the millions of those being negatively impacted by these trends will be many who need to get into real estate to make up for lost income. This may create a whole new pool of end buyers, partners, and potential workers for your investment business.


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Canada Bans Foreign Property Owners

by blogger1
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on Wednesday, 13 April 2022
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Canada has announced that it is banning property purchases by foreigners. That could be great news for US real estate investors.


Canada’s Bold Real Estate Policy Change

In an effort to cool its own property market Canada has chosen to ban foreigners from buying property in their country.


This new rule is expected to be in place for at least two years, to bring down housing prices. At the same time they say they are committing billions in government funds to build more housing.


Canada seemed to be one of the few to manage a soft landing and avoid the worst of the last financial crisis. Yet, they are now under new leadership, with a new game plan.


Good News For The US

Canada has long been one of the top global destinations for international investors and second home and vacation home buyers.


It was favored for its legal system, taxes, and stable market. Canada has put an abrupt stop to that.


Not only is this very likely to divert that capital and buying activity to the US, but existing owners are going to be desperate to sell too. They must cash out before the government crushes their asset values. That is even more money that could be flying south in search of real estate.


This also comes at a time when the US may need to fill the gap left by Russian buyers and investors. They made up a substantial amount of foreign investment in the United States.


Marketing To These Motivated Buyers

There is a lot that US based real estate investors can do to market to and connect with this new wave of buyers and investors.


One easy and low cost method may be to create strategic referral partnerships with Canadian real estate agents. They can refer their buyer leads who they can no longer serve. They can also refer sellers who are cashing out of homes there and need to reinvest.


It can also pay to get out ahead of the herd, and market to these buyers where they are. You can use Google Ads, search engine marketing, marketing in their languages, and salespeople who speak their language too. This can be especially important post-COVID when many are still not traveling.


Summary

Canada’s decision to ban and push away international investment will likely be America’s gain. Fast thinking and moving investors can use this to their advantage to scale up their businesses and move more inventory.

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