We are going to try and catch up with your questions today. So we will lead with that. Then we have more news than we have time to get to I’m sure. Redfin is in our news segment today and we are going to take a peek at three markets - Minneapolis, Indianapolis, and Boulder, CO in our questions segment and I got asked a couple of really interesting questions in the past week - one of them has to do with my formulas and the rules for investing I’ve developed from them. I get to all of that in a few minutes.

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Announcements:

• Lunch with me every Wednesday. Baraonda
• My latest article in Forbes is out. bit.ly/findredeals.
• The FAN is here!
• Would you like to invest in the Flipping America projects across the country? Coming soon you will be able to for as little as $100. That’s right, Flipping America is partnering with Ground Floor Funding to create a crowd-funded platform where you can invest in the deals we are doing here. The fund will pay out a 8% preferred rate of return and can go as high as 16%. You can make money with me, the Flipping America Guy.
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• Want a quick analytical tool to tell you how strong a potential fix and flip deal is? Download the Property Grade app. You answer 10 simple questions about the property and the app instantly tells you what you can expect to make, your return on investment, your return on cash, and then the program gives the project a letter grade using the proprietary Flipping America Investment Property Grade algorithm.  

News:

• Redfin is losing money but making up for it in volume? https://www.fool.com/investing/2019/05/16/with-losses-mounting-in-a-hot-real-estate-market-i.aspx
• CNN is finally reporting on the NAR lawsuit https://www.cnn.com/2019/05/15/economy/real-estate-commissions/index.html
• https://www.opendoor.com/w/guides/housing-market-trends-2019
• Coastal markets will see a decrease, sales will continue upward but slower. Opportunity zones will become a thing...  https://theoofy.com/46532/real-estate-trends-and-housing-market-forecast-2019-what-to-expect-from-housing-and-real-estate-during-2019-fri-may-17/
• Because you will do better than 20 or 21. Economy may turn.  https://realestate.usnews.com/real-estate/articles/why-you-should-sell-your-home
• Rise in interest rates, millenial home buyers, growth of secondary cities, home affordability, opportunity zones, Alan Donenfeld, CityVest  https://www.forbes.com/sites/forbesrealestatecouncil/2019/03/19/five-trends-that-will-impact-real-estate-investing-this-year/#4eee8d951915
• https://www.financialsamurai.com/time-to-start-worrying-about-the-housing-market-again/
• Aby Rosen, the real-estate mogul eyeing French eatery for his luxury skyscraper

https://nypost.com/2019/05/19/real-estate-mogul-eyeing-french-eatery-for-his-luxury-skyscraper/

• IRE Real Assets reported that many leading institutional investors are nearing their portfolio-allocation targets for real estate assets

https://therealdeal.com/national/2019/05/19/waning-appetite-worlds-largest-institutional-investors-may-slow-their-real-estate-acquisitions/

• 17 Real estate agents reveal the worst parts of their jobs, from the lack of steady income to being on call 24/7

https://www.businessinsider.in/17-real-estate-agents-reveal-the-worst-parts-of-their-jobs-from-the-lack-of-steady-income-to-being-on-call-24/7/articleshow/69388468.cms

• Austin tops another list as a hot market for first-time home buyers.

https://spectrumlocalnews.com/tx/austin/news/2019/05/19/newcomer-s-news--real-estate--new-to-austin-notes

• Chamber welcomes Berkshire Hathaway Real Estate

https://patch.com/massachusetts/reading/chamber-welcomes-berkshire-hathaway-real-estate

• Real estate brokers can help coordinate closing date with moving date

https://www.greensboro.com/life/house-calls-real-estate-brokers-can-help-coordinate-closing-date/article_dd9edc63-f5b6-5cc6-9355-7a926ac76522.html

• Real estate investors bet on tech hubs to withstand economic downturns

https://www.geekwire.com/2019/real-estate-investors-bet-tech-hubs-withstand-economic-downturns-study-finds/

• Real estate market in Hamptons is ‘in a rut’ due to new tax law

https://www.foxbusiness.com/features/real-estate-market-in-hamptons-is-in-a-rut-due-to-new-tax-law-report-says

• Real estate sales in Rockingham County saw their highest gains this year during April, a 7.7% increase in single-family home volume and a 4.5% increase in residential condominiums.

https://www.fosters.com/homes/20190519/seacoast-sees-april-real-estate-blossom

• Senate Bill 669, AN ACT RELATING TO TAXATION — REAL ESTATE CONVEYANCE TAX, which would authorize the city of Newport to impose an additional two percent (2%) real estate transfer tax, has been scheduled for a hearing and/or consideration on Tuesday, May 21st.

http://whatsupnewp.com/2019/05/bill-that-would-impose-an-additional-two-percent-real-estate-transfer-tax-in-newport-scheduled-for-senate-hearing/

• The National Association of Gay and Lesbian Real Estate Professionals (NAGLREP) joins the real estate industry in celebrating the May 17 historic passing of the Equality Act in the House of Representatives.

https://rismedia.com/2019/05/19/naglrep-salutes-real-estate-industry-efforts-equality-act-passes-house/

• For the first time in a long time, Denver’s bustling real estate market has slowed. The top line: The steep rise in prices is slowing and there are more houses on the market.

https://www.cpr.org/news/story/good-news-anxious-home-buyers-denver-real-estate-has-cooled-a-bit

• Diane Oberhelman inducted into Commercial Real Estate Hall of Fame

https://www.eastpeoriatimescourier.com/news/20190518/diane-oberhelman-inducted-into-commercial-real-estate-hall-of-fame

• Builder and real-estate company combine forces to bring new homes to Butte

https://mtstandard.com/lifestyles/builder-and-real-estate-company-combine-forces-to-bring-new/article_d523b486-5b0d-5bc0-a814-454ef9b68449.html

Your Questions: Send emails to [email protected]

• Alaina, Milwaukee “Is there ever an occasion when you go outside of your formulas?”
• Erica, Atlanta “When you’re new and starting out and you want to partner with someone who has money, how do you know this person is the right person?”
• Sandy, Jacksonville, “I can’t find a lender who will loan on my first deal. My credit is ok, but I don’t have experience. One lender even told me the deal is fine, but they won’t lend to someone brand new. I’m about to lose my earnest money. What do I do?”
• Antonio, Boulder, “I’m looking at a house near the university I can pick up for $650,000. It’s a 3/2 1300 sf house. I could put 4 college kids in there for $1000 each. Or I could spend about $80k fixing it up and sell for just under $1mil. What would you recommend?”
• Lamar, Las Vegas, “I have some questions, but what I’m really wondering are what are the questions I SHOULD be asking?”
• Nazim, Bloomington, MN, “What should I be looking for in a rental?”
• Erin, Anderson, IN, “In my area where a decent house can be bought for under 150k, it’s hard to make more than 10-15k on a flip. I hear these stories about people making 80k on a flip and find it hard to believe. But I see their selling prices are higher. Should I be considering doing this somewhere else?
• Andrea, Atlanta “I’m brand new but really want to do this. What should be my first steps?”
• Jill, Monroeville, PA “I’m looking at an abandoned house that got partially burned about a year ago. The fire  was just in the kitchen. How should this affect my offer? Do I need a structural engineer or something?”

Comment Line calls and Questions

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Motivational Thoughts for the day

• “It does not matter how slowly you go as long as you do not stop.”
• - Confucius