Real Estate and Investing News - W. Darrow Fiedler

Tips for Entering Real Estate Development

On August 15, 2022

There are many barriers to entry when it comes to real estate development. Most of the time, people are not ready to commit to a project due to a lack of knowledge about the various factors that affect real estate development.

Construction of real estate projects can take years, and they usually take a lot of planning and preparation. Even though it can be lucrative, the industry can be very challenging. Due to the fast-paced nature of the business, developers often face unique challenges that keep their operations fresh. Before jumping into the field of real estate development, there are several factors to keep in mind.

Partner with a Mentor

No matter how good you are at technical knowledge, you will need help to operate in the field successfully. Many of the skills that developers use in their projects are learned through failures. Having a mentor can help speed up the learning curve and help you avoid getting stuck with a massive loss on your first few projects. Each deal is different, and each decision point has to be considered carefully. One of the most critical factors a mentor can help you with is navigating through the various decision points involved in real estate development.

Connect with Professionals

Getting a network is also essential to become a successful real estate developer. As a developer, you will rely on the guidance and expertise of third-party consultants during the entire process. A strong network will help you connect with the right people and deliver the best possible service. Usually, you’ll want to work with multiple professionals, such as a general contractor, a civil engineer, a land-use attorney, a lender, and a surveyor.

Make a Plan

Many aspiring real estate developers ask where to start when entering the industry. One of the first steps in becoming a successful real estate developer is establishing a geographic focus. This will allow you to avoid getting stuck in the middle of a multitude of regulations when it comes to developing projects. Before starting a project, you must identify the type of building you want to make. A clear understanding of the type of building you want to make will allow you to focus on the most critical areas.

Set Goals

Getting overwhelmed by the endless tasks that come with real estate development can be a common problem. In addition to finding suitable land at a reasonable price, you’ll also need to secure the necessary financing and develop the property through the eventual disposition. Having a set of goals will help you keep track of your progress and ensure that you’re on your way.

Research the Market

Before you start working on a project, you must identify the building that you want to make. Having a clear understanding of the local property market will allow you to start developing successful projects. Before you start planning a project, it’s vital that you thoroughly research the area to determine the factors that will affect the development of the property.

This step will allow you to collect valuable data to help you develop a successful development plan. Having the necessary data will allow you to make informed decisions and maximize the potential of your project.

Must-Read Books For Real Estate Agents In 2022

By W Darrow Fiedler

On July 8, 2022

In Real Estate, Welcome

The best real estate books are those that inspire you to reach your goals and become an even better realtor. They provide a variety of effective techniques and advice that will help you connect with your customers and improve your day-to-day processes. Besides being able to provide you with advice, real estate books also offer valuable lessons that the authors have learned from their own experiences. If you’re looking for inspiration from people who started at the bottom and became successful real estate professionals, check out some of these great books on real estate.

Real Estate Success In 5 Minutes A Day – Karen Briscoe

Many real estate professionals share the same daydream: “If I only had a few more minutes each day, I would be able to improve my sales and marketing skills”. According to Briscoe, all it takes to become a successful real estate agent is five minutes each morning. How do you spend those 5 minutes you ask? By reading one of the 365 chapters of this book each day, for an entire year.

The Sell – Fredrik Eklund

One of the most prominent real estate professionals in the country, Eklund is known for his unique and entertaining behavior on the hit Bravo show “Million Dollar Listing New York.” In his book, he shares his top tips for becoming a successful real estate agent. The book also features a variety of advice on how to build a strong and effective relationship with clients and earn a good reputation.

Laugh Your Way To Real Estate Sales Success – Cathy Turney

In her award-winning book, Turney shares her thoughts on the humorless world of real estate, showing how funny the industry can be. Unlike the other books that claim to have the “how-to-make-a-million” advice, Turney doesn’t provide the same level of advice. Instead, she shares her thoughts on the little moments that real estate professionals encounter every day. In her book, Turney talks about her journey from being a sales rep to becoming one of the top real estate agents in the country. She also shares her experiences and advice that will help other real estate professionals succeed.

The HyperLocal HyperFast Real Estate Agent – Daniel James Lesniak

In his first year as an agent, Lesniak was able to close over twenty million dollars in deals. He was able to accomplish this through his hard work and dedication, and he shares his strategies and advice in his book “The HyperLocal HyperFast Real Estate Agent.” One of the most important factors that real estate professionals should consider when it comes to becoming a successful agent is mastering the art of local marketing. Lesniak shares his strategies and advice on how to improve his sales and marketing techniques. He also shows how to use a segmentation and positioning process to effectively target his clients.

Great Real Estate Podcasts To Listen To In 2022

By W Darrow Fiedler

On June 7, 2022

In Finance, Investing, Real Estate

Want to improve your knowledge about real estate? The following podcasts are great for you to keep up with all the latest news and analysis about the industry. They’ll also provide you with entertaining and informative shows about home renovations and investing. Here are a few great podcasts to listen to in 2022.=

Best Real Estate Investing Podcast Advice Ever With Joe Fairless

Joe Fairless is a well-known real estate investor and host of this weekly podcast, which covers various topics related to the industry. He has a wide variety of blog posts and videos, and he frequently interviews other industry professionals. Each episode of the show provides valuable advice and insight from various guests, such as house flippers, renters, and passive income investors.

House Party

If you’re a fan of celebrity property purchases and the buying and selling of real estate, House Party is a must-listen. This weekly podcast from realtor.com talks about the latest trends in the industry, as well as the stories of real estate professionals who have experienced various home disasters. Co-hosts Rachel Stults and Natalie Way also share their personal stories of moving across the country and dealing with various real estate-related issues.

Cashflow Diary

Author and entrepreneur J. Massey is the creator of Cashflow Diary, and he also provides free training courses to aspiring and experienced real estate investors. He has a wide variety of blog posts and videos that he frequently interviews other industry professionals. He can help you find the best deals and strategies for buying and selling real estate.

Bigger Pockets

BiggerPockets is a weekly podcast that features off-the-cuff conversations with real estate investors and entrepreneurs. Co-hosts Brandon Turner and Josh Dorkin talk about their backgrounds, experiences, and failures. Each episode of the show features a different real estate investor talking about their successes and failures. The goal of the program is to provide a community of like-minded individuals who are committed to building their financial education.

The Remote Real Estate Investor

There are a variety of real estate investing podcasts available, but one that stands out is The Remote Real Estate Investor, which is hosted by Tom Schneider, Michael Albaum, and Emil Shour. The hosts of this show talk about the various advantages of remote investing. Topics covered in this podcast include investing in markets that are far from home, managing a property manager, and identifying markets to buy-in.

Great Summertime Home Maintenance Tips

By W Darrow Fiedler

On May 6, 2022

In Real Estate, Welcome

Springtime is here, and before you know it Summer will be here as well. With the warmer weather about to hit us in full force, it’s important that our homes are able to withstand the changes that come with it. Keeping up with home maintenance is always a good thing, but there are certain things you should do to make sure your house is in tip-top shape depending on the time of year and where you’re located. With summertime so close, let’s take a look at a few great summertime home maintenance tips.

Stop The Bugs!

Summertime means spending more time outside, which means you’ll want to keep your yard free of those pesky insects. One simple way to keep them away is to spray around the perimeter of your yard and your home. You can also use a combination of bug spray and door and window treatments to keep them away. Since so many pests tend to wake up in the summertime, you may want to consider recaulking your doors and windows to make sure the bugs don’t get into your home as well.

Power Wash Time!

One of the easiest things to do during your summertime home maintenance is using a pressure washer to clean areas such as your driveway, patio, or deck. After giving these areas a full inspection, you can then wash away all of the dirt and grime that have accumulated over the past year. You can rent a pressure washer for around $40 a day at a local home improvement store if you don’t own one.

Prep The Grill

Before you start preparing your grill for the summer season, you’ll want to make sure it’s sanitary after a year of just sitting around. For gas grills, you can heat it up for around 20 minutes and then scrub the outer surface with a grill brush. For charcoal grills, you can use a bucket of hot water and a sponge to get rid of any debris that’s blocking the hoses. Also, make sure that the grill is placed away from any flammable objects.

Wash Windows and Replace Screens

Getting your windows cleaned isn’t enough if you don’t also wash their screens. To get the job done, remove the old screens and use hot water to scrub them.

If your screens are too dirty to be cleaned, you might want to replace them. While you’re at it, inspect your doors and windows to make sure they’re properly sealed. Doing so will keep the cool air in your home and keep the warm air out.

Buying A Home In 2022

By W Darrow Fiedler

On April 15, 2022

In Investing, Real Estate

Real estate is constantly changing, and buying a home has become extremely difficult over the past few years. In 2021, property values skyrocketed, making real estate great for sellers but challenging for buyers. Experts expect the market to relax a little bit in 2022, but it’s still not the most ideal situation for many buyers. That doesn’t mean you should avoid buying all together. If you do your research and are diligent, you can certainly find your dream home. Read on to learn a little bit about buying a home in 2022.

Home Prices Will Keep Rising, But At A Slower Rate

Although home prices are expected to continue rising in 2022, they’ll be at a slower pace than they were in 2021. According to the National Association of Realtors, home prices are expected to increase by just 2.8% in 2022. Other experts, such as the mortgage bankers association and the housing finance company Fannie Mae, predict a more modest increase of around 7%.

Mortgage Rates Will Increase, But Still Be Low

Despite the expected increase in mortgage rates in 2022, the average 30-year fixed-rate remained at a historic low of 3% in 2021. It’s important to note that even if the increase is as predicted, the mortgage rates will still be fairly low.

According to Yun of the National Association of Realtors, the average 30-year fixed mortgage rate will increase to 3.7% in the coming months. Other organizations such as The Mortgage Bankers Association or Fannie Mae believe that it will raise to 4% and 3.3%, respectively.

Actually Buying A Home

Knowing a bit more about the housing situation in 2022, you may decide to go ahead and start house hunting. But are you prepared? Ask yourself a few questions to be sure you understand what you’re getting yourself into.

Are You Financially Prepared?

No matter what the housing market is like, it’s always important that you make sure you’re financially prepared to buy a house. This means a lot more than being able to make a mortgage payment each month. You’ll want to make sure you have the money put aside for closing costs, moving costs, potential repair costs and so much more. You’ll also want to make sure you have a high enough credit score to take out a mortgage.

Research Neighborhoods

It’s important to research the places you’re considering moving to. You don’t want to buy a house and then find out months later that you hate the area. If you have kids, research the local school system. You may want to look at crime rates, or what the weather tends to be like in the area so you can avoid potential flood zones. These things are important to make sure you’re happy with your home in the long run.

Find The Right Real Estate Agent

Finding an experienced real estate agent who cares more about making their clients happy than they do making a sale is integral to finding the perfect home. Research local realtor reviews, or ask friends and loved ones for recommendations. The agent you work with can make or break the entire homebuying process.