Real Estate News and Auction

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Episode #940

Everyone knows how to find a real estate agent. But an investor-friendly agent—one who will find deals for you, run the numbers, hook you up with contractors, and help you get funding—isn’t the same as your neighborhood agent down the street. These agents have connections that can help skyrocket a new real estate investor’s portfolio and bring them deals that no one else knows about. So, how do you find these diamond-in-the-rough real estate agents? You need to ask THESE questions.

In this episode of the AZREIA Show, hosts Marcus Maloney and Mike Del Prete delve into the innovative housing solution, PadSplit. They revisit the topic with Ellis Tran, who provides a promising update on PadSplit's progress, revealing an expansion to 64 properties and 420 bedrooms, highlighting an impressive occupancy rate.

Brian and Gina Kingdeski, who transitioned from managing short-term rentals to becoming PadSplit hosts, share their journey and success in scaling their property portfolio using the PadSplit model. The discussion emphasizes PadSplit's role in addressing affordability issues in the housing market by transforming properties into co-living spaces, providing a low barrier to entry for residents and a profitable model for hosts. The episode also covers the operational aspects of managing PadSplit properties, including property selection, furnishing, utility management, and tenant screening, alongside insights on leveraging the model for social impact and community support.

Key Takeaways:
00:28 Deep Dive into PadSplit: Updates and Insights
04:07 The Success Story of Brian and Gina with PadSplit
22:29 Navigating Challenges and Legalities in Co-Living Spaces
25:33 Diving Into Design and Furnishing Strategies
26:13 Basic Furnishing Essentials and Customizations
27:15 Setting Premiums and Adjusting Prices
28:22 Transitioning to a More Economical Model
30:59 Screening Process and Member Selection
34:43 Managing Utilities and Expenses
38:18 Enhancing Member Experience and Community
40:20 Expanding the Business and Future Plans
45:39 Maximizing Occupancy and Marketing Strategies
48:38 Contact Information and Closing Remarks

Connect with Brian and Gina Kingdeski
https://www.instagram.com/thebriankingdeski/
https://www.linkedin.com/in/gina-kingdeski-48952511b/

Connect with Ellis Tran
https://www.linkedin.com/in/ellis-tran-75b21461/

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Our membership is a community consisting of independent real estate investors who invest in:
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🎓Our strategy classes are provided through AZREIA and others and deliver advanced knowledge.

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The National Association of Realtors settlement it’s going to change real estate transactions forever. Today I sit down with Drayton Nay. He is a real estate wholesaler. Watch us discuss the future of real estate agents. #RealestateAgents #NAR #DraytonNay #iallegedly #TheStrat #homesalesforce

Loyalty and respect are crucial in any professional relationship, including between buyers and realtors. When buyers engage multiple realtors without commitment, it not only wastes the time and effort of these professionals but also undermines the trust and integrity of the real estate market.

Realtors invest significant time and resources in understanding their clients' needs, conducting property searches, arranging viewings, and negotiating deals. When buyers flit between multiple realtors, they dilute the efforts of each realtor involved and may exploit their services without any intention of loyalty or commitment.

This issue has gained attention due to recent lawsuits and settlements within the real estate industry. These legal actions reflect a growing recognition of the importance of fair compensation and professional conduct in real estate transactions. Buyers who fail to appreciate the value of a realtor's services and engage in disloyal behavior may find themselves facing  higher costs

Ultimately, buyers should recognize the value that realtors bring to the table and respect their time and expertise. Building trust and loyalty in the real estate relationship benefits both parties and contributes to a more ethical and efficient market.

New commission models to replace the seller-paid standard after the National Association of Realtors’ proposed settlement.

#deductions #realestate #taxstrategy

DOJ wants a total negotiation on Purchase Prices and Buyer Broker Comp/Seller concessions. They don`t want it posted ANYWHERE

United States property investors are putting the pedal to the metal and feeling optimistic despite a turbulent housing market.

The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($766,550 or less) increased to 7.01% from 6.91%.

#dojustice #nationalassociationofrealtors #narsettlement

real estate investing tips and strategies with dan borrero and kris haskins

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A new report from ATTOM shows there were 625 U.S. commercial real estate foreclosures in March, a stunning 117% increase from the same time last year.

Redfin’s Glenn Kelman discusses his business, salary, and all things housing with Fortune.

#WIREassociates #EvictionAttorney #Eviction

Sell Buy Auction

It sounds like a broken record but NAR is back in the spotlight again. However, it is not from a headline and more as a discovery. Kala was researching NAR's membership numbers, and it seems that they wiped the board & removed every single trace of their statistics, even back in the previous century. Why is NAR doing this? And what does it spell for the outlook of realtors?

A panel of judges considering whether to consolidate real estate commission lawsuits into one cited recent settlements as a reason to deny the request.

Joining James and Keith on this episode is Kevin Sears, the President of the NAR. Kevin pulls back the curtain on why NAR is looking to settle instead of appealing the verdict. Kevin sheds light on the importance of better communication at NAR and building a supportive culture. He talks about NAR's efforts to help homebuyers navigate buyers’ agent compensation and financing amidst the changes post lawsuit.

Kevin also shares how his time as a stunt diver and being set on fire influenced his calm leadership style. Get insights into Kevin's views on the future of REALTORS® as he looks ahead. This chat gives you a sneak peek into NAR's plans and Kevin's leadership style. Don't miss out on this engaging discussion about the changing real estate scene!

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https://www.nar.realtor/membership

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The decline in FSBO (For Sale By Owner) transactions over the past 15 years can be attributed to the increasing utilization of flat-fee realtors and flat-fee listing services. These services offer homeowners the opportunity to list their properties on the MLS (Multiple Listing Service) for a flat fee, often significantly lower than traditional realtor commissions.

Flat-fee MLS sites such as https://arizonamlsflatfee.com/ by Mountain Lake Realty with over  1100 Arizona sales have become popular alternatives for sellers looking to save on real estate transaction costs. By paying a flat fee, sellers can gain access to the MLS, which exposes their property to a broader pool of potential buyers. This increased exposure can lead to quicker sales and potentially higher sale prices.

Additionally, using flat-fee listing services or flat-fee realtors can provide sellers with professional assistance in marketing and selling their homes without the hefty commission fees associated with traditional real estate agents. This cost-saving advantage has made flat-fee services an attractive option for many homeowners.

Overall, the decline in FSBO transactions can be seen as a reflection of the changing landscape of real estate sales, with homeowners increasingly opting for cost-effective alternatives like flat-fee services to sell their properties.

**UPDATE** Two days after this recording Bill SB1129 passed the house and is back to the Senate. If the governor signs the bill we will immediately bring you Part 2 with Mark Zinman.

In this video we'll dive into the main issue currently going on around the country SQUATTERS!!
How to protect yourself and how to avoid squatters from entering your home in Arizona.

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