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The week in real estate industry deals: May 22-26, 2017

Inmannews - Sat, 05/27/2017 - 3:00am
While real estate agents chase leads and close deals on houses, there's another level of deal-making that takes place within the real estate industry: mergers, acquisitions, integrations and partnerships. We'll be recapping every week's noteworthy deals that didn't make it into print (and some that did) for your perusal. Here are this week's ...
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Top 10 posts from last week

Inmannews - Sat, 05/27/2017 - 3:00am
Here were the most popular stories on Inman this past week ...
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Inman Connect San Francisco 2017: Growth, Discovery, Brainstorm

Inmannews - Fri, 05/26/2017 - 4:49pm
I was walking through San Francisco this weekend and realized how important it is that we bring the real estate community to the very epicenter of so many changes. Lots of silly stuff goes on in this great City, but most importantly it throbs with invention, action and passion ...
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Where will you find your next business tech strategy? Tech Connect

Inmannews - Fri, 05/26/2017 - 2:11pm
What the smart agents are discovering is this: The tech tools you use can make a big difference in your productivity. ...
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The markets have been quiet, but here’s the long view

Inmannews - Fri, 05/26/2017 - 1:54pm
Markets have been quiet this week in front of a long holiday weekend and next week’s big load of economic data, which will make or break the Fed’s decision to increase the cost of money at its meeting on June 14. Expect “make.” ...
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Everything you need to know about Zillow Instant Offers

Inmannews - Fri, 05/26/2017 - 1:00pm
What happened in the real estate industry this week was preceded by a long drum roll, delivered to the beat of massive funding rounds for direct homebuyers, disrupted music and transportation industries, the infiltration of convenience into every aspect of our lives, and the undeniable focus on that precious lead: the homeseller ...
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Voodoo Agent: Being ‘in play’ with your leads

Inmannews - Fri, 05/26/2017 - 11:45am
Gary Gold's says that "being in play" -- having ongoing conversations -- with clients is how you become their designated agent ...
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Broker Connect will hone your brokerage’s edge over the competition

Inmannews - Fri, 05/26/2017 - 10:04am
Sometimes being a broker feels like a series of tensions to juggle. While you're trying to keep agents happy and entice new blood to your brokerage, you also have to consider whether your business model is even still working ...
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Leigh Brown: 5 points Realtors are missing about Zillow

Inmannews - Fri, 05/26/2017 - 9:50am
I hear you, Realtors. You are mad at Zillow. And apparently you think that I don’t take the current situation seriously ...
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Zillow Instant Offers lands Realtor 48 seller leads

Inmannews - Fri, 05/26/2017 - 9:39am
Realtor Veronica Figueroa has nabbed 48 seller leads through Zillow Instant Offers since it launched on Monday, and she’s working to see how many she can convert into listings. “The numbers just keep on coming in,” she said ...
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What you’ll learn at the very first ICSF Women Leaders track

Inmannews - Fri, 05/26/2017 - 6:57am
Some of the most successful real estate agents, brokers, team leaders and office managers on the planet will take the stage at the Women Leaders track ...
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Rents are rising in the suburbs

Inmannews - Fri, 05/26/2017 - 2:10am
Buyers look to rent in the 'burbs to save money, but Zillow's latest rental study shows rents in suburban and urban areas are facing affordability issues. ...
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How one agent has successfully juggled family life and clients since 2002

Inmannews - Fri, 05/26/2017 - 2:00am
As part of her 10 Questions podcast series, F.C. Tucker broker Angela Raab interviews Brenda Bowman, a supermom and agent who has been growing her successful real estate business in Indianapolis since ...
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How to prevent problems with overpriced listings

Inmannews - Fri, 05/26/2017 - 2:00am
Help keep everyone happy by explaining upfront how the entire listing process will unfold, getting it down on paper and having it signed ...
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Why, when and how to hire an assistant and build a real estate team

Inmannews - Fri, 05/26/2017 - 1:00am
There may come a time in your business’s trajectory when volume increases but your two hands can't keep up. Signs of growth are positive, but it may be wise to consider hiring an assistant or forming a team to meet demands ...
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Thinking of reducing your commission? Don’t

Inmannews - Fri, 05/26/2017 - 12:45am
In this week's video, Peter Lorimer of PLG Estates discusses why you shouldn't reduce your commission. ...
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Daily market update: May 26, 2017

Inmannews - Fri, 05/26/2017 - 12:15am
Mortgage rates plus all the latest real estate market news ...
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Craigslist: Forget the ‘it’s so ancient’ mantra

Inmannews - Fri, 05/26/2017 - 12:10am
Craigslist, the granddaddy of all horizontal classified websites, hasn’t taken a single step to focus on verticals like real estate and recruitment. And yet it is active in the verticals, nonetheless ...
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dotloop: See How Real Estate’s Only Collaborative Transaction Platform Boosts Brokerage Productivity

Inmannews - Thu, 05/25/2017 - 8:03pm
In this webinar, you’ll learn how dotloop consolidates transaction management into a single solution, allowing your brokerages to save time with fewer errors. ...
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The upside and downside of becoming a landlord in retirement

American Apartment Owners Association - Thu, 05/25/2017 - 5:27pm

I used to listen to your radio show in Atlanta when I was working. I’m now retired and I am concerned about my investments. I have no confidence in the U.S. economy.

I have roughly $1 million saved up in an investment account. I own my home free and clear and have no other debts. My wife and I are 63 years old. She has a pension and I’ll take Social Security when I turn 66.

We are thinking of buying a different house and renting ours. The rent would net us about $1,350 per month. We would then buy another house for about $250,000 and pay for that in cash. I think that having more money in real estate assets would be safer for us. What do you think?

The level of risk a person is able to take or want to take is a very personal decision. We usually don’t advise our readers on the amount of risk they should or shouldn’t take but rather highlight the potential upside and downside of their decisions.

For example, let’s say your current home is in one area of Atlanta and your other home is on the other side of the metro area, or in the mountains in northern Georgia. If the two properties aren’t near each other and your tenant needs quite a bit of hand holding, you could find it time consuming and annoying being a landlord.

Living in a home that you own is quite different than becoming a landlord of your former primary residence. For that, you need to make sure you want to be a landlord and are willing to deal with tenants, their issues and the possibility that you might not have a tenant if you can’t rent the property.

All of these issues are also “risks,” but you might have more control over the risks in vetting your tenants and by deciding how to price your home for rent. You said you have $1 million in an account. You’d have to decide how to invest that money in a diversified way to help you out into your retirement years. The purchase of real estate is not a liquid investment, but if you have a good tenant and you have good cash flow from the home, that cash flow can help supplement your retirement income far beyond what you’d get in stocks or bonds, and certainly more than you’d get in cash.

One thing for you to consider is what your home is worth and if you sold the home what you would do with that cash. If you invested the cash, what return do you think you’d get from the cash? If you leave the money in a cash account, you know you’d end up with close to zero income from that cash but you’d end up with about $16,000 per year from your tenant — assuming no big expenses are needed to your former home. In addition, you’d hopefully see some additional appreciation in your home value.

You could consider investing in more real estate, as you have the cash for it, and handling your real estate as a side business. Here again, it’s risky to put too much faith in the power of real estate. There are no assurances for anything; but given what we have lived through from before the Great Recession through today, you could see real estate and stock values plummet but then rise again. Some real estate has done better than others and some stocks have done better than others.

So while we like real estate, we encourage you to run the numbers, become knowledgeable on how to market real estate, understand how long it takes to rent homes in your area, see what might need fixing in your home and then decide whether becoming a landlord is right for you.

 

Source: washingtonpost.com

The post The upside and downside of becoming a landlord in retirement appeared first on AAOA.

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