Category: Uncategorized

Trends in Multi-Family Property Development

All investment fields are cyclical, but perhaps none more so than real estate. With job markets constantly evolving, population trends always fluctuating, and a host of other factors to consider, real estate investing is all about knowing the trends and trying to find a way to get in front of them. Here’s a quick look at a few trends in the area of multi-family property development.

Millennials on the Move

Millennials are finally moving out of their parents’ homes! While parents across the nation rejoice that their nest is finally becoming empty, it also means that there’s a new group of housing customers looking for a place to call home. A large number of millennials are moving for work and opting to rent instead of buy with the plan in mind to relocate for better jobs when they become available. That means that an entire new generation of people are considering moving into multi-family properties.

Baby Boomers are Downsizing

Since their children are getting out from under their roofs, baby boomers are realizing that they no longer need to pay a monthly mortgage on that 4 bedroom, 2 bath home that they bought when their first child came along. NHMC believes that boomers will spend the next decade looking for over 4 million new apartments. Not only are the children looking at apartment living, but so are the parents.

Secondary Markets are Growing

Land in major metropolitan areas (New York, Chicago, Los Angeles) is still incredibly expensive. If you already own an investment property in those areas, you may already be dealing with the fact that it’s hard to consistently collect rent there. Fortunately, there are still big cities that are growing but have not reached the point of being unaffordable. If you can’t afford investment property in Dallas, TX, consider looking in Austin instead. Other large cities such as Salt Lake City, UT and St. Louis, MO are other secondary markets on an upward trend.

You can see a good return on your multi-family property investment as long as you take the necessary steps to educate yourself and act on the trends that are already taking place. Get ahead of those trends and watch out for the next ones that will undoubtedly change the market again.

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This article was originally published on noelsurin.co.uk

3 Reasons Every Entrepreneur Should Have a Mentor

Generally, when you start a new career, you’ll go through some form of training. A company’s training program is designed to give you some extra preparation for your role. As an entrepreneur, “training” maybe a little more unconventional. How can you be sure to prepare yourself accordingly for a career as an entrepreneur? The short answer: a mentor. Having a mentor when embarking on an entrepreneurial journey is essential to your success. A good mentor has gone through their journey and has experienced success, as well as bumps in the road. Here are a few key reasons why every entrepreneur should have a mentor: 

Real Life Experiences 

A mentor that has found success in their entrepreneurial journey has a lot to offer a “newcomer”. Specifically, their real-life experiences can be of particular value. A seasoned entrepreneur has gone through many different phases of success as well as failure. They can provide a different perspective to their mentees and guide them with professional insight. 

Networking Opportunities 

Networking is a huge part of being a successful entrepreneur. As time goes on, you expand your network with new connections across various industries. An entrepreneur with years of experience can put their mentees in contact with their connections and help them build their relationships. Chron contributor Miranda Morley provides an excellent example “Your business mentor may introduce you to another of his mentees, an award-winning recent college grad who is looking for an entry-level position in web design. Perhaps you are looking for someone to help you design your new company’s website. Thanks to the mentor’s contact, your search for a valuable asset may have just become easier.”

Confident Decision Making 

A new entrepreneur may not be ready to fully make decisions without the insight or opinion of someone more experienced. While a mentor isn’t there to make decisions for their mentee, they can offer them experience-based professional insights that may help point them in the right direction. The mentee still can decide on their own, but hearing from a mentor can provide a different perspective for them to consider.

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This article was originally published on noelsurin.org.uk

A new analysis proposes Cambridge has highest request for rented homes in the UK

New research has indicated that Cambridge has the greatest level of requests for rented properties in the most populated towns and cities in the UK after Basingstoke and St Albans.

Analysis from lettings inventory and property compliance firm VeriSmart has shown that the London commuter belt overshadows the top 10 locations for increased rental request whereas Aberdeen has the least requests for rented accommodation.

Rental listings across the UK’s most populated cities showed that Cambridge had the highest ratio of 57% tenant demand with Basingstoke following at 56% then St Albans at 53%, Milton Keynes 49%, Crawley at 47% and Tamworth at 46%.

Looking at London, the most level of demands is seen in Bromley at 41%, Sutton at 39%, Bexley at 38%, Havering and Richmond and Waltham Forest at 35%. Lewisham at 33% makes the only inner borough in the top 10 as well as Enfield, Kingston and Greenwich.

We see the capital’s lowest levels of demand in central London with both Kensington and Chelsea and Westminster at 8%, the City of London at 12% and Camden at 15%.

Looking at the UK, Aberdeen and Coventry are the lowest with 8%, with Preston being 9%, Edinburgh at 10%, 11% in Dundee and Sunderland, Swansea at 12% and Newcastle, Leeds and Gateshead at 13%.

https://www.propertywire.com/news/uk/cambridge-has-the-highest-demand-for-rented-homes-in-the-uk-new-analysis-suggests/