On The Market

Who’s buying real estate? Maybe you are, maybe your friend is, but what about NFL players? Most casual fans would assume that getting paid millions of dollars a year would ensure a long-lasting retirement, but this isn’t always true. For many professional athletes, you’re constantly living one injury away from having no income. If, like many newly-signed pros, you splurge your first few years of checks, you could enter into retirement flat broke without any of the millions you earned.This is the exact opposite of what Cliff Avril and Devon Kennard did. They knew that their career earnings started ticking away the second they stepped onto the field, so they made moves to protect their wealth in other ways. Although numerous financial advisors told them to play it safe with index funds, REITs (real estate investment trusts), or other more “passive” investments, they decided to multiply their active income by investing heavily in real estate.And, even during an economic downturn, these two financial powerhouses are still investing, trying to maximize their dollar as much as possible. In this episode, we chat with Cliff and Devon about syndications they’ve invested in, how they’re staying up-to-date in today’s wild housing market, where they’re investing, and why they picked real estate over all the other assets. You don’t need to be a pro football player to take these lessons to heart, so stick around because this episode is bound to make you wealthier!In This Episode We CoverWhy so many professional sports players choose real estate as their chosen investment Real estate vs. stocks, index funds, REITs, and other more “passive” investments Real estate syndications and how to vet the operator who’s running the deal Investing during a recession and how Cliff and Devon are reacting to this changing market The “core four” every real estate investor needs in a property market Normalizing the investment conversation and making sure your circle is building wealth together The similarities between running a play and buying a rental property And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramJames' BiggerPockets ProfileJames' InstagramConnect with Devon & Cliff:Cliff's TikTokCliff's InstagramDevon's BiggerPockets ProfileDevon’s BookDevon's InstagramDevon's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-76Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

The US debt ceiling has been hit; what happens next could send ripples through the economy. But is now the time to panic? Or is there still time to solve this situation? With the US economy relying so heavily on borrowing, the prospect of being unable to pay back its debts could come with a series of “catastrophic” consequences. Higher mortgage rates, a market crash, and an even harsher recession could be on the horizon. But what’s the likelihood of this happening? And are we really on the cusp of a debt debacle?We brought on Sarah Ewall-Wice, Washington D.C.-based reporter, to help explain what is happening with the US debt limit. Sarah knows that many Americans are used to these types of debt ceiling congressional debates, but most people don’t know the impact these could have on their wealth, investments, and society as a whole. With COVID spending forcing the government to pay for even more, the debt ceiling has reached an almost unimaginable $31 trillion.Sarah describes what would happen if the US defaulted on its debt, the programs that would be impacted the most, what republicans and democrats both want in their upcoming debates, and what everyday Americans can expect to happen over the coming months. Dave and Sarah also discuss the “trillion dollar coin” method, which could end the US’s debt quite quickly, while simultaneously acting as the most comical government bailout plan to date!In This Episode We CoverThe US debt ceiling explained and why the government could raise the limit yet againCOVID’s effect on government debt and how spending was ramped up during 2020 The “extraordinary measures” that the treasury is putting in place to keep the government afloat What happens if the US defaults on its debt and the severe consequences for investors Which social programs will be hit the hardest if a default happensMarket crashes, mortgage rate increases, and other effects we could be in forThe “trillion dollar coin” method and whether money-printing is the answer What republicans and democrats really want and why they’re fighting for it  And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramThe 2023 State of Real Estate Investing ReportConnect with Sarah:Sarah's TwitterSarah's InstagramCBS NewsCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-75Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

With assumable mortgages, you can snag a three percent interest rate even in 2023’s high-interest environment. These loans exist everywhere around you—you could be sitting on an assumable loan without even knowing it! So, if there’s a way to pick up properties at all-time low-interest rates, why isn’t everyone taking advantage of assumable mortgages? We brought Craig O’Boyle from Assumption Solutions on to the show to explain.Assumable mortgages aren’t new, but most real estate agents, loan brokers, and homebuyers have no idea what they are. In practice, an assumable mortgage allows a homebuyer to “assume” a seller’s loan with the same interest rate, contingencies, and principal paydown as the seller. This means you can walk into a home with significant equity, a low-interest rate, and the same fix-rated loan you’d be picking up from a bank. But, if you want an assumable mortgage, you’ll need to know where to find one.Craig walks us through the ins and outs of assumable mortgages, where investors can find one, why most mortgage lenders and brokers don’t know about them, and one BIG caveat you’ll need to hear before you chase down this better financing. Want a lower rate and monthly payment with higher cash flow? Stick around; we’ll give you everything you need to know to find a low-interest assumable loan in your area!In This Episode We CoverAssumable mortgages explained and why a bank would allow a buyer to assume a loanAssumable loans vs. subject to and how one strategy is far riskier than the other Fees you can expect to pay when purchasing a property with an assumable mortgage House hacking and using assumable loans to profit off your primary residence The three types of loans that can be assumable (and others that WON’T work)The “assumption gap” and money you’ll need at closing to get the deal done And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramJamil's BiggerPockets ProfileJamil's InstagramJamil's YouTubeSubject To Real Estate ExplainedConnect with Craig:Craig's WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-74Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

The new housing market is here, and with it comes a whole new set of real estate investing rules. Now, appreciation isn’t a given, flipping can flop, and good multifamily deals are one in a dozen instead of one in a million. This type of market can be dangerous for new real estate investors, but it can also be a massive opportunity for those who want to play the game the right way. So, please don’t ask the newly-rich gurus what their advice would be; turn to the decade-long players who have survived crashes, come back stronger, and know which deals are worth getting done.In this episode, we’ll go through the “2023 State of Real Estate Investing Report,” written by your data and sandwich savant, Dave Meyer. This report presents a window into what could happen in 2023, where the housing market stands now, and how investors can react to build real estate riches. Henry Washington, Jamil Damji, and Kathy Fettke give their own housing market predictions for the next year and prove cash is king, why on-market deals are the way to go, and how investing in “hybrid cities” can make you both equity and cash flow rich.The On the Market team will also give their thoughts on the potential commercial real estate crash that could happen in 2023. This type of movement in real estate affects all investors. Knowing about it beforehand can help you not only make money on killer deals but also help you avoid buying a property that may nosedive in value after buyers exit the market. So if you want the best data on real estate investing for 2023, this is the place to be!In This Episode We CoverThe “new housing market” that’s forming and how investors can take advantageWhy cash is king and how low competition and high rates can help you buy rental property stealsWhy “buying deep” combined with seller financing can make you a killing in 2023Whether house flips will flop in 2023 and how inexperienced investors could get burntThe “hybrid cities” that offer investors cash flow AND appreciation in one placeCommercial real estate and the multifamily price crash that could be on the table in 2023And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramHenry's BiggerPockets ProfileHenry's InstagramJamil's BiggerPockets ProfileJamil's InstagramKathy's BiggerPockets ProfileKathy's InstagramThe 2023 State of Real Estate Investing ReportOn The Market Podcast 65 with Ben Miller (Liquidity)On The Market Podcast 71 with Brian Burke (Multifamily Crash)BiggerPockets Real Estate Podcast 721 with Scott Trench (BiggerPockets CEO) Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-73Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Getting a low interest rate on your mortgage is something homebuyers in 2023 dream about. With last year’s 4% rates still fresh in many investors’ minds, it can seem almost irresistible to try and get the lowest mortgage rate possible when buying a house. So, what if there was a way to lock in a mortgage rate two to three percent lower than the daily average, all paid for by the seller of your new property? It’s possible, and if you want to get it, you’ll need to listen closely to what today’s mortgage experts are saying.In this episode, we brought three lending experts, Bill Tessar from CIVIC, Christian Bachelder from The One Brokerage, and LendingOne’s Matt Neisser, to talk about what is happening with lending and lenders, mortgage rates, and low-interest loan programs. With different expertise, all three of these mortgage experts know about various loans, whether for a rental, a primary residence, a fix and flip, a BRRRR, or something else. But what draws them all together is their experience over the past six months.Once interest rates started to rise, lenders nationwide were “gutted,” with massive amounts of business flying out the door. But these borrowers weren’t searching for better lenders; they didn’t even want to buy anymore. This caused many mortgage brokers and lenders to “reset” their requirements, standards, and expectations for the next few years to come. Now, lenders like these are getting creative, finding some of the best ways to help you score a lower interest rate without charging you a dime.In This Episode We CoverHow the Fed’s decision to raise rates caused the lending industry to lose huge businessReal estate underwriting and why short-term investors MUST change the way they analyze deals Bad news for BRRRR investors and why this strategy may be on pause for the next few yearsThe new low-interest rate loan products that homebuyers can take advantage ofMortgage rate predictions and when we could potentially see rates start to stall (or drop)Advice for borrowers in today’s market and why you should NOT be scared of rising ratesAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramFind Your Next Home LoanConnect with Christian, Matt, & Bill:Christian's BiggerPockets ProfileMatt's BiggerPockets ProfileCIVICLendingOneThe One BrokerageCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-72Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Multifamily real estate is by no means an easy asset class to buy into. What most people mistook as simple investments in 2020 are now turning out to be cash-hemorrhaging, high-interest, soon-to-go-bust investments. Everyone and their grandma was trying to buy the biggest apartment building they could, bidding well over asking without checking the fundamentals of the deal. Now, these buyers have to reap what they sowed by selling a solid asset at a low price or falling into foreclosure.But how did we get here? Wasn’t multifamily the hottest asset class of the past two years? This was supposed to be a foolproof way to build wealth, so what happened? Brian Burke knows, and that’s why he sat patiently on the sidelines, watching inexperienced syndicators bite off more than they could chew, refusing to listen to long-term investors. Brian has successfully predicted multiple crashes, not because he has a crystal ball, but because he knows when to take profits. He smelled something fishy happening in the multifamily space in 2019, and this same feeling saved him in 2022.So, what’s next for the multifamily housing market? Are the nation’s multifamily investments set to crash and burn? Not quite, but this could be the opportunity of a lifetime for the new investors looking for their next deal. But when should you hop in, start analyzing deals, and make bids? Stick around for this multifamily deep dive, as Brian will give you everything you need to know about the multifamily real estate market.In This Episode We CoverThe multifamily “bomb” that’s about to explode and how multifamily became so overleveragedRisky debt and how new investors failed to think ahead with bridge loans and adjustable-rate financingThe multifamily foreclosure crisis and how many investors could be forced into forbearanceKey fundamentals to follow if you want to invest in multifamily in 2023 New construction and whether the high risk is worth the higher rewardAdvice for both active and passive multifamily investors who want to avoid getting burnt in 2023And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramKathy's BiggerPockets ProfileKathy's InstagramRead The 2023 State of Real Estate Investing ReportExpert or Amateur? Do You Know Who Your Real Estate Syndicator Is?Book Mentioned in the EpisodeThe Hands-Off Investor by Brian BurkeConnect with Brian:Brian's BiggerPockets ProfileBrian's InstagramPraxis CapitalCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-71Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

The housing market is a living, breathing organism, constantly moving, with each real estate market playing by its own rules. Thanks to the individuality of the American housing market, homebuyers had the flexibility to choose where they wanted to live as soon as the 2020 lockdowns took place. No longer did homebuyers have to purchase a house that was close enough to the office. Since many worked remotely, the entire country became their office, and a slew of newly nomadic workers decided to settle down in states both far from and near home.These migration patterns changed the landscape of the housing market and made once-sleepy cities into booming metros with high-priced homes almost overnight. Now, the trend has reached a halt, as homebuyers remain frozen in place, stuck between high housing prices and even higher mortgage rates. But, with in-office work becoming more and more mandatory, could these domestic migrants start being called back to the big cities and tech hubs they came from?We brought Taylor Marr, Deputy Chief Economist at Redfin, on to the show to give his take on where the housing market is headed. Taylor goes deep into the two halves of the 2022 housing market and why “booming” post-pandemic markets like Boise are seeing steep declines. We also talk about mortgage rate buydowns, the new buyer’s market, and where migration is starting to slow as homebuyers get caught in financial quicksand. In This Episode We CoverHousing market volatility and why ping-ponging mortgage rates haven’t helpedTech markets and how these employment hubs are faring now that many homebuyers have jumped shipThe most volatile housing markets of 2022 and where you can expect to see migration slowdownsReverse migration and what will happen once in-person work becomes mandatory againHow politics, taxes, and weather highly affected homebuying patterns in 2022Short-term rental data and why second homes saw a massive drop-off in demand And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramJames' BiggerPockets ProfileJames' InstagramHear Our Last Interview with Taylor2022 Housing Market Review—A Tale Of Two HalvesGet Redfin’s Up-to-Date Housing Market DataConnect with Taylor:Taylor's TwitterCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-70Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Picking stocks can be intimidating for a first-time investor in the stock market. For landlords, real estate can seem like a much more tangible, calculated way to make money with less risk and far more upside. But, with the stock market taking a much harder tumble than real estate in 2022, some long-time investors argue that now is the best time to pick up discounted shares of companies that will last for hundreds of years to come. So, as a real estate investor, which stocks should you pick?There’s no better person to ask than Chris Hill, host of Motley Fool Money, an investor who knows the ins and outs of stock investing better than the rest. Chris understands why most investors are hesitant to invest in the stock market, especially after the past year. With company valuations dropping faster than many have seen, stocks aren’t looking that attractive—at least not right now. However, Chris argues that this is a massive opportunity for the long-term investor, and if you can practice delayed gratification, you’ll be rewarded for decades.Chris walks through why he’s so optimistic about the stock market in 2023, how rising interest rates hurt real estate and stock valuations, advice for new investors, and how to start picking stocks, even if you have no experience. Chris also shares why the everyday businesses many of us purchase from are primed for growth and why REITs (real estate investment trusts) may be massively undervalued as stocks and real estate are feeling a collective price crunch.In This Episode We CoverThe 2022 stock market crash explained and what caused prices to dropHow rising interest rates affect the stock market (especially startup stocks)Compound interest and the massive advantage that young investors have right nowAdvice for investing in the stock market in 2023 and how to start picking stocksREITs (real estate investment trusts) and why they’re trading at a discountUnderstanding your risk tolerance and maximizing your returns while minimizing your sleepless nightsAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s Instagram27 Stocks for 2023Book Mentioned in the ShowThe Psychology of Money by Morgan HouselConnect with Chris:Motley Fool MoneyChris' TwitterCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-69Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

The Federal Reserve is a misunderstood arm of the government. Is it public? Is it private? Does congress have any control over it? Most Americans don’t know. Because of this constant confusion surrounding this shadowy subsection of the government, Americans are struggling to understand what’s going on with interest rates, mortgage rates, bond yields, and more. But there’s one person who knows the Fed better than the rest.Nick Timiraos, reporter at The Wall Street Journal, has been tracking every move the Federal Reserve makes. Whether it has to do with inflation, interest rate hikes, job growth and decline, or anything in between, Nick knows about it. As the foremost expert on the Fed, we took some time to ask him some of the most critical questions on how the Fed’s decisions could affect investors in 2023. With so many variables up in the air, Nick helps pin down precisely what the Fed is thinking, their plans, and whether we’re on the right economic track.You’ll hear how the “overcorrection” of inflation could pose a massive threat to the US economy, the significant risks the Fed faces today, the three “buckets” that the Fed is looking at most, and why we’re targeting a two percent inflation rate in the first place. We also get into when the Fed could stop raising interest rates, how investors should react, and whether or not we’ll see three and four-percent mortgage rates again.In This Episode We CoverHow the Fed’s 2022 moves affected the US economy (and whether they’ll pay off in 2023)Massive money printing and why this time was designed not to repeat 2008’s mistakes The Fed’s “overcorrection” on inflation and how it could send us into a more brutal recessionThe three “phases” we must get through to see lower mortgage rates Interest rates, federal funds rates, and when the Fed could halt their rate hikes Employment, the labor market, and why excessive wage increases could hurt the economy The 2023 outlook for real estate investors and when we’ll see low interest rates againAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramKathy's BiggerPockets ProfileKathy's InstagramHear Our 2022 Interview with NickBook Mentioned in the ShowTrillion Dollar Triage by Nick TimiraosConnect with Nick:Nick's TwitterWSJCheck the full show notes here: https://www.biggerpockets.com/blog/on-the-market-68Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

What's the best housing market for real estate investing? If this were 2022, we'd say cities like Boise, Austin, or Phoenix, but things have changed, and many of last year's top real estate markets look like this year's losers. So which cities are the ones worth investing in over the next year? Which will see population, job, and home price growth? And which markets can you expect to sink even lower as interest rates rise and the threat of a recession looms?We've got a few housing market experts around to help you navigate the plethora of property markets in the United States. James Dainard, master house flipper on the west coast, has a surprising prediction on an often underrated east coast city. Jamil Damji, one of the nation's largest wholesalers, is bearish on what was once a hot market and bullish on a "unicorn" city between two cultural capitals. Kathy Fettke, the Golden State's home builder and investor, picks a fight with a familiar character and has her eyes set on another sunshine state.And, of course, we also get Dave Meyer's take on where the data says will be the worst and best real estate market to invest in during 2023. So place your bets, get your MLS search ready, and prepare to see which markets will come out on top over the next year. If you're thinking of buying or selling, these picks may completely change your plans!In This Episode We CoverThe best and worst real estate markets to invest in over the next yearWhy so many real estate investors remain bearish on California (even with high appreciation!)The one real estate market investors love to hate, and a good reason many people are movingHow more prominent economic factors like employment and income significantly impact your investment in a cityThe "unicorn" real estate market that has stayed under the radar for decadesWhy some of the worst cities to invest in during 2023 will flip in 2024And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets ForumsBiggerPockets AgentBiggerPockets BootcampsJoin BiggerPockets for FREEOn The MarketJoin the Future of Real Estate Investing with FundriseConnect with Other Investors in the “On The Market” ForumsSubscribe to The “On The Market” YouTube ChannelDave’s BiggerPockets ProfileDave’s InstagramJamil's BiggerPockets ProfileJamil's InstagramJames' BiggerPockets ProfileJames' InstagramKathy's BiggerPockets ProfileKathy's InstagramHear Our 2022 Housing Market PredictionsRocket Mortgage’s Top Real Estate Markets of 2022Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-67Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices