Fri, 12 July 2019
1236 FBF: Affordable Home Crush & Dealing with Property Managers, Part 2 of Client Case Study with Scott
Today's Flash Back Friday comes from Episode 962, originally published in February 2018.
Jason Hartman kicks off the show talking about an important topic in rental property today, and that is the lack of affordable homes. Supply is dropping across the nation and there aren't a whole lot of options for what to do about it. Listen in for Jason's piece of advice.
Then Jason wraps up his client case study with Scott. Scott and Jason finished the last episode talking about how Scott wouldn't have been able to find all the properties he needed to complete his 1031 exchange without Jason's group. They pick up the thread today and then go into why Scott's dad couldn't make residential real estate work, and property manager experiences and differences in office space vs residential property management.
[2:46] The barbell that is crushing the supply of affordable homes
[6:56] The millennials make up one side of the barbell, but the Baby Boomers on the other side are doing something new and it's causing a disruption
[9:38] How bad is the inventory level? Pretty bad, and Jason has some market examples to prove it
[13:36] One of the solutions to this inventory shortage is get what you can get and hope the market calms down
Scott Client Case Study, Part 2
[21:14] Why Scott's dad wasn't able to make residential real estate work when he tried decades ago
[23:51] Scott's experience with the property managers in Jason's network
[28:25] The difference in self-management in office space versus residential