Better Than Success Real Estate News Briefing
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Better Than Success Real Estate News Brief for March 1 2021
Every week, the the team at Better Than Success round up the biggest and most important news, policy changes, funding sources and investing opportunities for real estate investors and small business owners. It's the market information you need to know before pulling the trigger on your next or first investment. Find each article mentioned in episode 5 below... 1. Zillow will now make cash offers for homes based on its ‘Zestimates’ https://www.mercurynews.com/2021/03/01/zillow-will-now-make-cash-offers-for-homes-based-on-its-zestimates/ 2. Here are the highlights and the takeaways for this week's mastermind: The Road to Financing A Multifamily Apartment Portfolio w/ James Dorcely – 02242021 The four components of financing for multi-family real estate are credit, income, assets and collateral. The biggest barrier of entry that people run into when talking about multifamily purchases versus a one to two or three or four unit building, is the level of cash required. Essentially, what you’re trying to do is engage a lender. But what you really want to obtain is what’s called a letter of interest, a letter of intent or a term sheet that is similar to a pre-approval LOI term sheet. Bios or resume are not normally requested in residential but certainly would be requested on a multi-family or commercial transaction. When it comes to multi-family your level of experience is the very key. You can’t just go from only owning a 1, 2 or 3 family property, and now you want to purchase a hundred units by yourself with no partners you're going to need partners and experience if that's the direction you want to go. 3. Phila - L&I Permitting As a Reminder: All permit applications for new construction and additions filed on or after April 1, 2021, shall be subject to new requirements: Energy Compliance Documents and Soil Investigations 4. Rising Interest Rates Could Derail Strong Demand For Mortgage Applications https://www.forbes.com/sites/brendarichardson/2021/02/25/rising-interest-rates-could-derail-strong-demand-for-mortgage-applications/?sh=645fbc6636f0 5. Softbank - backed real estate brokerage Compass makes IPO filing public https://www.reuters.com/article/compass-ipo/softbank-backed-real-estate-brokerage-compass-makes-ipo-filing-public-idUSL3N2KZ4TN To see our upcoming events, visit betterthansuccess.com/events. Get up to 100% Financing for your Renovation and Acquisition cost for your next Rehab go to http://btsfunding.com/
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