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House Flipping Flops in the Second Quarter

According to a recent report from CNBC, home flippers, after two straight years of gains, have pulled back. In fact, the number of homes that were flipped in Q2 fell to 5.6%, down from 6.9% in the previous quarter. So, why the slowdown? The answer: A drop in profit. Home flippers saw an average gross return of $67,516 in the second quarter, representing a 48.4 percent return on investment. That is down from 49 percent in the previous quarter and down from 49.6 percent in the second quarter of 2016. It also marks the lowest return in nearly two years. This slowdown is driven by cost. Home prices were up 6.7 percent in July, which means it’s just more difficult to get into the game. Flippers,

Miami Real Estate Market Welcomes the Bitcoin

Bitcoin; by now most people have heard of this crypto currency, but very few understand how Bitcoins work. While Bitcoins will never replace the good ol’ U.S. dollar, Bitcoins provide an alternative way to make purchases; and now, in Miami’s booming real estate market, they are becoming more acceptable. According to a recent article in the Miami Herald, “Miami is an ideal market for Bitcoin, giving buyers and investors from South America, Canada, Russia, Asia, and the Middle East the opportunity to make their purchases quickly and smoothly.” Of course, it helps to know WHAT a Bitcoin is: "All Bitcoin transactions are recorded permanently on a distributed ledger called the ‘blockchain.’ This

How Real Estate Can Make You a Millionaire

Perhaps you’ve heard it all before. “Get into real estate and become a millionaire.” It sounds too good to be true. But according to a recent article in Forbes, more and more people are making nest-eggs through smart and timely investment in real estate. There are four primary “wealth generators” you need to be aware of when developing your real estate investment strategy: cash flow, appreciation, loan pay-down and tax benefits. Rental properties allow the savvy investor to capitalize on all these wealth generators. When renting out a unit, monthly rent payments will cover the cost of your mortgage and repairs, leaving you with a stable source of cash flow that will only increase with inflat

The Single-Family Renter: What You Need to Know

A new research article and infographic from John Burns Real Estate Consulting highlights the differences between people who rent single-family homes vs. people who rent apartment units. John Burns' research indicates that single-family home renters made more money (with a median income of $42,600 vs. $32,400 for multi-family renters); had more kids (15% of single-family renters had three or more kids, whereas 5% of multifamily renters had three or more children); and 38% of single-family renters were married, compared to the 21% of multifamily renters who were married. See below for infographic: Consider investing in a professionally managed portfolio of single-family homes? Please contact H

SpringView Investments Opens New Property Management Division

Brooklyn-based SpringView Investments LLC is expanding their company’s reach with the opening of a new Property Management Division and office in the Chicago area. SpringView currently owns over 200 single-family homes and manages numerous properties. Its founder, Harold Willig, established SpringView for two reasons: 1. To create a risk-mitigated supplemental income stream; 2. To provide that opportunity to other investors. SpringView invests in stable, safe communities that many Americans can afford. The Fund has primarily invested in properties in the ChicagoLand area, but anticipates potentially expanding to other high potential growth markets in the U.S. as the company expands. Opening

Hurricane Harvey Hits Homeowners Hard

The devastation caused by Hurricane Harvey will result in a flood of non-paid mortgages as stunned Houston homeowners begin to assess damages. Fannie Mae and Freddy Mac have announced that they’ll offer leniency on mortgage payments for at least 90 days and could extend the benefit up to one year. That means borrowers wouldn’t have to make their monthly payments and no penalties would be charged. Early estimates predict that more than 130,000 Houston homeowners could qualify for this forbearance. However, interest on delinquent payments will not be forgiven. The task of rebuilding will be formidable and homeowner losses could be record-breaking. In the Houston area, there are more than twice

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