How FinTech is Changing the Game for Residential Property Investors

invest ability and call American Finance at the end of the program and with that I’m going to turn it over to Dennis and Stephanie great thanks so much Barbara really appreciated me I appreciate everyone that’s listening today both Stephanie I hope to bring you some insightful information into what’s going on in this very exciting asset class and so with that I’m going to get started on covering a little bit about how this industry has evolved from its early stages and so the first thing I want to go over is really three major items that have have impacted this sector overall and for those of you that might be new to investing in single-family real estate excuse me when you get the right slide there there we go those you might be new to investing in single-family real estate it is a explosive asset class right now there are nearly 16 million single family rental homes in the u.s. today and that number has gone up pretty dramatically over the last few years and so I’m going to cover three main things here that it have really impacted that growth and we’re going to start with social and demographic conditions we’re going to talk about some of the economic changes that have taken place and then also what the advent of the institutional investor in this space really means for the everyday investor in the asset class overall and that’s really the wall street investors is what we’re going to be talking about so starting with the social and demographic part of this as you may know after the recession millions and million of houses were foreclosed upon but yet people still needed a place to live so what has happened over the last decade is means we’ve created this environment that is creating an ability for there to be sustained growth within single-family runner up and that means that ultimately the housing market and the homeownership rate in this in this country will continue to decline so to give you guys a little perspective the homeownership rate in the u.s. at its peak was almost 70 percent in 2004 today it’s only 63 percent and that’s in the face of a continued growing population so in 2004 there 112 million households in the country 70% of them owned loan homes that means there’s roughly 78 and a half million homeowners leaving 33 and a half million renters well today in 2016 we’ve added 14 million new households in the US since that time so we’re up to 126 million households but now only 63% own home so there’s only 79 and a half million homeowners today even though we’ve added 14 million households we’ve only added 1 million new homeowners and so what that means is all of that demand has been pushed into rental properties so if you’re an investor in single-family rentals and you’re wondering why does my rent keep why does the rent that I’m able to charge keep going up why are people not leaving my houses it’s because there’s not an available amount of supply to satisfy these folks and it’s not keeping up with demand of the household growth and the reason that the demand isn’t there is a number of different factors that are both economic and demographic anyone that’s listening if you guys have actually tried to get a mortgage before you know it’s brain-damaged it is more Eveleigh regulated now than it has ever been even though interest rates are near an all-time low so the fact that these credit standards are tough for most people makes it more challenging to get into a house that they might even be able to afford but because of the underwriting standards they can’t get approved for the loans they need or they may not have enough downpayment to to get approved for a certain type of loan there are several reasons behind why some of these folks are not qualifying number one is as you’ve probably heard the amount of student debt that’s outstanding in this country is at an all-time high more and more home potential homebuyers are saddled with a greatest amount of student loan debt that eat into their personal savings rate and not surprisingly the personal savings rate in this country is going down I would be amazed if you told me you know seven years after the Great Recession that people wouldn’t learn how to save a buck but it’s not that they don’t know how to save its that they have to attribute their dollars to other things like student loan debt like increased cost of rent so you have those factors starting to suppress people’s ability to actually buy a house but it doesn’t depress that our ability to need housing and that’s why you’re starting to see rent prices continue to increase in vacancy to continue to decline in almost every major metro area across the country when you factor in that we’re not building enough homes to keep up with this household growth it only exacerbates that supply and demand imbalance and this might be a little surprising to you guys but in 2016 in the United States we built the same number of houses of new home construction that we built in 1961 when JFK was president there’s a big difference between now and 56 years ago the population of the United States right now is 350 million people the population in the United States then was only 200 million people so we’re adding supply at a rate that does not add up with this the current amount of demand and overall populace that we have to support and the end result is you are going to continue continue to see the homeownership rate in this country decline you’re going to continue to see upward pressure on rental prices and home prices and you’re going to continue to see a decline in vacancy now that is an awesome awesome combo if you’re an investor it’s a little depressing if you’re a believer in the American dream of homeownership but these are the conditions that we’re faced with right now from a demographic and economic perspective but if you’re looking to take advantage of this if you have extra capital if you have money sitting in your self-directed IRA you know these are things to take note of because you’re in a very ripe market to take advantage of some of these conditions right now and I’m not saying this because this is what my company does or this is what calling the American Finance does I started my career as a housing market analyst and an economist I’ve studied in my whole life I’ve never seen a combination of different factors that are supported a consistent decline in home ownership over the next several years which again benefits you guys as investors so with that the other thing to take note of is what is really starting to change this asset class is the entry of the institutional investors and that is the wall street guys that you have been reading about in the paper or online there has been a lot of noise about Wall Street coming in and buying houses on Main Street and while that’s true it’s not nearly as as impactful as you think it may be at least in terms of changing actual market conditions like pricing and supply and everything else if anything that’s actually benefited the small investor by the Wall Street investors coming into play because they have they have helped mature this asset class single-family rentals aren’t a new thing in the US economy there have been at least 10 million rentals in the US since the 1970s what’s different is there was never an availability of services of financing there was never any kind of real scale behind it because this is a very fragmented industry of the 16 million single-family houses that are out there those 16 million properties are owned by 10 million different companies and individuals so it’s very spread out a lot of people own just one or two properties and the issue with this is because most of the investors are smaller in nature there have not been a great amount of financing options available there have not been a lot of services and technology behind this but as soon as the Wall Street investors came in they really changed the game and they leveraged a lot of what has already been going on in the multifamily sector that is apartment two to bring up everything to speed here these Wall Street groups we’re going to be investing billions of dollars they needed to have the availability of good financing they needed to have the availability of automated services and that’s some of what I’m going to talk about next is is really what are for the the main ways that technology have helped push this along but the big Wall Street guys for for all of the press that they’ve gotten you’ll see right here on this next slide they only own two hundred thousand houses between them and I know that is a big number for sure but it’s not that big of a number of the 15 or 16 million single family rental properties that are that are in the market today so these groups have had a incredible impact for the everyday investor there’s online property tools software big data all kinds of stuff I’m about to talk about that didn’t exist until people had this service the handful of institutional investors in this space but overall they make up a very small percentage of it and so you know sometimes when you compare Main Street versus Wall Street you think it’s David versus Goliath but I will tell you here today that Goliath in this scenario is the individual mom-and-pop investors on a collective basis they’re the ones that can really move the needle for the overall housing market in this sector so the next thing I want to share with you guys is really what some of the new developments in the SFR sector are and how they can benefit you you know as an investor or someone looking to get into this market so the first thing I want to talk about is it’s big data you know nearly every industry has benefited from the advent of big data but you know what does that really mean for us as real estate investors you know from a practical standpoint it’s really a combination of two things you know the data sets we deal with have grown larger and larger as we track more data over time and are in our computing power and access to cloud storage instead of the processing of that information so when you combine those factors when I was able to analyze higher volumes of data faster and as a result real estate data companies like rent range Data Services you can now deliver more insightful information to the investment community at a faster clip allowing investors to make better decisions so we’re getting to this point now where we have this ability to continually access and analyze an abundance of information that just frankly wasn’t available that before for any of the investors that have been in the sector for a long period of time this part of of our asset class has grown light years and the next step now is really advanced machine learning where we’re able to differentiate the signal tunable from the noise and that is we’re figuring out what variables are truly important to help predict real-estate investment outcomes and this is all about us analyzing risk and making better decisions better decisions when it comes to online automated solutions anyone that the landlord out there knows that the biggest constraint is on your time and in the day-to-day management of an investment property whether it’s leasing vacant properties in the dead of winter getting a call from a tenant at 3 a.m. to repair a broken water pipe you know one of the most owners parts being landlord is a birthday puts on their schedule so the good news is there’s a slew of automated solutions that are coming online they can make your life easier a good example that is a company called Cody its online property management portal where you can have your rent paid automatically you can get your tenant set up with automated payments you can get background checks done there are new companies coming online that that take complete control of repairs of maintenance on on properties and they use an uber like functionality that when the tenant reports an issue you get notified a local service professional gets notified and you’re able to respond efficiently and not have to worry about that labor yourself two other things I want to talk about briefly are the advent of virtual reality so if you look historically at the way that investors work and the way they think by property seventy percent of the time an investor buys an investment property within a ten-mile radius of their own backyard now a big reason for that is investment 101 invest in what you know and what you understand people understand their own backyard is better than anywhere else but as as big data has continued to evolve we’ve been able to process and give people more information about being able to invest outside of their own backyard there’s still an issue though as people we have a biological need to trust when our eyes tell us and so the rapid evolution of reality is making it easier to get somewhere that you’ve never been before so whether you’re doing something like walking through a neighborhood using Google Streetview or actually being able to virtually walk inside of a house using a technology like plan o matic you’re now able to virtually wander around neighborhoods that even see inside properties before giving you that ability to understand the sniff test of whether a property or neighborhood might fit your investment objectives the last thing I want to cover is building materials and this probably doesn’t look like it fits with the other three at all but excuse me sorry this doesn’t look like it fits with the other the other three at all but when you think of building with shows and Technology they don’t go hand in hand but scientists are actually really trying to make more efficient longer-lasting materials that ultimately are going to reduce your annual operating costs your maintenance costs your deferred maintenance cost your capital expenditures that can ultimately improve your bottom line and so I just want to highlight one for you guys today that I think is really cool and that is self-healing concrete and if you haven’t heard of this before I know the concept sounds straight out of a science fiction movie but a microbiologist out of Europe has developed a self-healing solution for what is ultimately the world’s most popular building with Gerald so all concrete eventually cracks but this scientist has blended the physical with the biological where he mixes regular concrete with the type of bacteria that which serves as a healing agent so that when there is a crack in the concrete and moisture is wet in the bacteria becomes active and when the cracks eventually formed the water inert water enters into any cracks it activates the bacteria capsules they feed on a camp ound that they’re mixed into the concrete with that produces limestone which eventually fills in the cracks pretty pretty amazing stuff if you think about it and once this product comes to market you know you can rest assured that it’ll be a long time before you have to patch up your driveway again so those are four ways that new text eval have really helped evolve this space what Stephanie is going to talk about in just a second is how another part of this industry has evolved dramatically and that’s the capital markets and how financing has evolved to put the average investor in a much better position than they were today our platform and invest ability if you haven’t been there before it’s pretty simple and I will say this in every seminar I give and every speech I I will be on page four we try to do three things for the investment community we want to give you access to information we want to give you access to properties we want to give you access access excuse me access to resources and services so our goal in accessibility is really to become a one-stop-shop for the average investor where they can have very powerful data at their fingertips we started a data company and our biggest customers were Wall Street investors and we’ve kind of flipped that model on its head and started to give that information away to the average investor to try to empower them to make better investment decisions invest ability has a Zillow like functionality where you can search on over a million properties in the US including a bunch of exclusive listings that you can’t find anywhere else and even better we use our proprietary data to help you understand what the investment potential for each of those properties are and when you’re finally ready to pull the trigger we have relationships as well as a bunch of other included services so whether you need title insurance property management construction services or even financing with a group like calling the American Finance you can find that all at invest ability calm so I would encourage all of you guys to go to the site check out what our offering is as I said when you’re looking between rent range which really drives all of our data you have the ability to look at and assess properties all throughout the country so you can understand that there aren’t a lot of investment opportunities in your own backyard you can find them elsewhere I live in California my whole life it is hard to find an investment property that pencils in Southern California right now so when my friends come to me and ask for advice I send them to invest ability and I say look look in the Midwest we’ll see what the cash flows in Ohio and Texas and Illinois look like right now and realize that you can have all of these services included with that purchase you’re doing to kind of make this as passive amid investment as you want to be and you can use some of the services all the services entirely up to you as an investor with that I want to turn it over to Stephanie to talk a little bit more about how the financing in this sector has evolved and really how finance and technology have come together to provide a better experience for the average investor thanks Dennis as Dennis said so eloquently not only has the evolution of technology meaningfully impacted property investing but so too has the evolution of the financing options available to investors there really are five main sources of capital for for single family investors as well as of all asset class investors the three most traditional forms have been you know friends and family your local bank or your own savings account in cash each of those comes with their own sets of pros and cons and and then with the evolution of other financing options we’ve seen the emergence of marketplace lender marketplace lenders excuse me and then the specialty or private lenders some of the challenges with with marketplace lenders is that yes the pros are the process is very streamlined and its online based but there’s tends to be some question about the availability of funds and and questions around reliability I think there are some great marketplace lenders out there where that they have really put those questions to bed but they do still exist from a specialty lender and private lender perspective you know Colony American Finance really falls into that space and those lenders have emerged much like calf has because they under and their perspective customer and the space in which they operate and have have custom-tailored their lending products or financing products to meet the needs of those of those customers so in the case of colony you know we’ve purchased thousands of homes and understand that process and what the needs are of the guys and girls I should say in the space who are in fact buying so to continue I am going to talk us through if I can get my sled to advance there we go I’m going to talk us through a few Lister illustrations of really how leverage can increase returns for both dicks and flippers as well as for rentals don’t jump the gun there went a little fast so this first illustration is going to really kind of walk you through how using leverage can increase your cash on cash return in just a flipping scenario so on the left hand side of your screen you’ll see that we have this kind of all cash hundred thousand dollar example where you’re going to purchase a property for $100,000 you’re going to use all cash to do so and you’ll flip it in some period of time at a profit of $25,000 well that analysis as you can see is effectively a 25 percent cash on cash return not a bad day I think we are looking for more than what our typical bank savings account is earning on our money today with leverage on the right hand side of the screen you can see that we can use 75 percent leverage and you can purchase that same hundred thousand dollar property by only using twenty five thousand dollars of our own cash and seventy five thousand in debt we still have the same execution when it comes to the flip at 125 thousand dollar price point with a gross profit of twenty five thousand however our net moffat because we have to take out the interest that we paid let’s say for a year is going to be 17,500 keep in mind that return analysis is only based on the $25,000 in cash you put out somebody else’s money you already paid for in that 10 percent interest what this leverage example illustrates is a 70 percent cash on cash return and I think it’s tough to argue that this is not a that this is not compelling you know debt is very very helpful for a real estate investor understanding the caveats of using using debt to an extreme or becoming over levered and recognizing that it certainly comes with some meaningful risk but in a measured way debt certainly helps with your returns beyond just increasing your cash on cash return that same hundred thousand dollars that you would have used in an individual purchase can actually be turned into four properties instead of just one because you’re using debt and so instead of buying one property for $100,000 your hundred thousand can then be spread across four properties further increasing not only your portfolio but also your returns because you’re able to sort of expand faster and generate more into in terms of yield another way that leverage can be used to sort of increase your returns is less about adding more volume to your portfolio but rather moving up the value spectrum in terms of the properties you’re looking to acquire renovate and flip the this example you see here is you know not a hundred thousand dollar purchase however it’s a real-life example of a calf borrower that has used leverage through our credit lines to start buying much larger higher value homes this is a five bedroom home and Southern California can see some of the before and afters and you know they were able to buy in and leverage this asset using their line put in some meaningful renovation work and they sold it for over three million dollars this is pretty compelling and something that you know they started out as a borrower with us that was kind of our entry-level credit lines buying hundred and fifty thousand dollar properties that they are now a large large customer of ours buying beautiful homes like you see illustrated here finally by allowing your equity to go further so that’s hundred thousand dollars in cash that we’re talking about it despite this hundred thousand dollars in cash we’re talking about by using leverage you’re going to let that equity go further building on your rental portfolio so rather than owning one rental property that you purchased for a hundred thousand dollars that has a net rental income of ten thousand dollars a year you could expand your your health portfolio to more than one property in this example for and your net rental income annually is more than doubled so this is just one further illustration not just for flipping that that that is certainly helpful but also for aggregating into rental portfolios and in growing that that base of income for you so Colony American Finance offers three different products loan products to meet the needs of our single family home investors we we have a bridge line of credit which is the business that I’m responsible for anywhere from a million dollar credit commitment on up the spectrum and it really meets the needs of smaller borrowers who maybe I still have a day job but are flipping some assets on the side all the way up to vertically-integrated instead traditional large real-estate companies it can be used for acquisition financing as well as stabilization of rental portfolios before refinancing those assets into some sort of longer-term product speaking of longer-term products Colony also offers two term loan products one is a portfolio term loan which is for five units or more as well as a single asset 30-year fixed individual rental property loan product and so because we understand and have been in the space for quite some time with with within the SFR Investment space we have developed these products to sort of address all the needs of our borrowers any one that starts out small and can grow with us we even have borrowers that have started out as just flippers but then the opportunity to generate higher yields by holding as rentals and are able to then refinance into one of our other products it’s great because we are a one-stop shop for those borrowers or those customers where it’s pretty easy to sort of work through the process with us if you’re already kind of underneath our wings it’s so to speak so I encourage you to go to go to our site and explore and reach out to us and ask questions and I know we’ll have some opportunity for that shortly right here on on this call to obtain financing with us it’s pretty pretty straightforward four simple steps I’m sure you’re all familiar with it it’s providing us with the property information and your track record and what you’re targeting to by its submitting an application to get quoted from our team of originators and then you go through the standard underwriting and diligence process with any of our product offerings to ultimately get to the closing point where you can then you know make your equity dollars go further by using our debt products so ultimately making more in terms of return in using less of your own dollars great so next let’s jump into some questions for Stephanie Stephanie great wants to know on the single asset rental owns the property needs to be rented or can it be rent ready it can be rent ready with a signed lease in place even if the if the tenant is not already moved in the expectation is that it there is you know the underwriting I guess I should say is based on the cash flowing ability of the property so I think and bear with me because I’m not the expert on on our single asset loans but there’s a lot of flexibility offered with respect to rent ready properties that will be tenant adverse F&E steven is wondering if you provide non-recourse loan for two to four unit properties we do we offer full and non-recourse loans across all of our product types our our credit lines as well as our portfolio and single asset term loans there there are of course the customary carve-outs on the Norn non-recourse for for bad acts so to speak but those opportunities are definitely available to you across all of our product types okay great so pushing back to dentist sort is wondering if we offer heatmap that are up to date and include pricing yet so our sister company range has a lot of data services available for the average investor so we have property level reports that will give you larger information about the surrounding geography once this is disco to county a metro area heat maps are something we totally can do whether you wanted to be pricing or they can see by bedroom count any of those is definitely solutions we have that our digestible for big and small investors it’s just a function of just going to rent range com contacting our sales team or a Fadel job hey so Stephanie with that a question about when calling American Finance funds or rental portfolio are you looking at the property or at the investor we’re looking at both so of course we’re going to look at the credit and background and track record of the borrower the the actual investor and we’re going to be taking a look at the in-place income and Noi that though that that rental portfolio is is going to be throwing off because that’s a key component in understanding the ability to cover the debt service on that on that portfolio or on that loan so it’s both great so it sounds really like you know interested borrowers which would just reach out to you to learn more about their specific circumstances that’s that’s exactly right and and I think I think what everybody should take away is that there’s always going to be something that is an exception right and and we’re we’re in the business of making loans I want to do business I want to put out money I want to originate more deals and so if there’s something that doesn’t fit the exact box that you see in terms of our guidelines and parameters via you know our website etc it’s still worth making the call talking through the process talking through the situation because we we want to try to facilitate the growth of our customers and if we can get comfortable and come up with a solution we’re going to do what we can to find that solution so that we can work around something that might be outside of our typical box great okay so interesting question just came in for Dennis wondering whether there’s a software that you recommend to manage and keep track of acquisition example if you’re buying a lot of how can you keep track of them well it really depends on what solution you’re looking for so keeping track of something during the acquisition process is a lot different than keeping track of something as an asset manager so there are good solutions out there in terms on your volume as well I’m a little bit old-school I’m just old serious and I’m also a little bit old-school so you know a lot of my stuff I will build and Excel to begin with and then once I get to a large enough a large enough of a portfolio then I’ll start to transition to other online solutions or other software services now that’s just the way it works I’ve been an analyst in a convention Baker for a long time Stone excels my best friend I personally they said I’m family at folio and yardie are really cool and they are starting to make more kind of trimmed down versions of their solutions for the smaller investor so I believe yardies come up with something called rent cafe recently that works pretty well for the smaller investor when you’re able to really track not only your your acquisition performance but also the performance of those properties film forth okay fantastic um so Stephanie tom is wondering he says he currently has a portfolio loan with Colony American Finance and the values of the properties have gone up can he use equity to secure a new line of credit equity that he has in the existing assets that are already financed with us is that our question okay actly yeah um you know we definitely take into consideration the net worth of our borrowers or our prospective customers for our lines of credit so in that case that that value appreciation that he’s experienced on his portfolio term loan is is all going to go towards that net worth number right so that that numerator is going to be greater we’re with a with a static denominator with respect to the debt on that on those assets so it definitely could used as one of the factors that goes into qualifying for our credit lines look we need our credit line borrowers to have a little bit of cash available because we aren’t 100% financing on their acquisitions and so you need to be able to bring some equity to the table to close on the on your new acquisitions as well as some cash to potentially you know do whatever renovation needs work needs to be done as you go through the stabilization process but certainly appreciation and value on on a term loan product will speak to you know increase net worth in that case so it certainly could be used as a credit enhancement if you will in the underwrite to qualify for it a credit line with us ok great call me so are your originator that you’ve usually you’ve worked with before that’s great you’ve got we’ve had so many really great questions come in many of which are specific to these individuals unique circumstances and so right over call me it is great advice because I’m you know fun you know what will be discussed on in a one-off type scenario so that I’m looking at our diner here we want to be respectful of everybody’s time and know that you all have jobs to do today as well so let’s run through a couple more questions and then I’m going to ask Stephanie in Venice to offer a need of closing remarks or or final words of wisdom to send you off on the rest of your day and then we will wrap this up so Dennis Kevin is wondering how invest ability assist with locating good properties natural nationally specifically what sorts of data should you be looking at to indicate which markets are a good fit for his investment objective that’s a great question unfortunately I don’t know Kevin or what and definite objectives are so it’s hard to find one particular market but I will tell you what I always look for is stability and growth in the market I don’t look for a place it’s overheated because of one particular job sector or one particular industry I’m looking for good long-term sustainable growth diverse economy hopefully from undersupplied under supplies condition when it comes to to a market like that so you know a couple places that come to mind that fit the bill right now Dallas San Antonio Chicago Miami those are all markets that also have somewhat lower their essentially when it comes to a price point if you’re going to go try to invest in San Francisco or New York I hope you have a lot of free cash or a very big line from them when you look at markets like that they’re places where the not only do we have going in migration from other places many people are moving there but they also have natural household growth the population is expanding job growth is expanding they have they’re not relying on one particular industry you see when it’s going up in the right direction you don’t see a ton of new supply coming on relative to that household growth and that is really what’s going to kind of push good long term demand so Kevin if you went on to invest ability what you can do right now is kind of certainty where the countries you want and start to see what the return threshold look like for properties that are either on the market or that we are selling on an exclusive basis if you want to take it a step further you know we have Account Executives that really start to understand you’re injected knee your investment objective need and then start to create a real point around what you’re trying to accomplish we had a guy that we met at a conference recently that has never heard of invest ability I’m sure there’s some people on this call it hadn’t either he was able to talk with our with our Account Representative our brokerage team and this is a guy that lives in the Bay Area didn’t know where to go we were able to help them acquire three properties in Texas I was in a matter of weeks that were right in in by box what he was looking to accomplish and away he goes is the next thing we did for him was we hooked him up with a property manager we looked him up with the construction services died excuse me and then right now there are discussions with collagen arts and finance or financing so that’s really what we’re trying to bring to the table is to make this a simplistic one-stop shop where we have all the resources you need when we are housing market experts so we feel like we can give you good advice or not what I think I think really separates us from a lot of other groups out there there’s a million properties out there I don’t care which one you buy long as it’s right for you so what we’re trying to do is help give you the information and resources to make the decision that’s best for you I’m not trying to cram you know some random property into leo io down your throat because that’s what I have to sell I’m trying to give you guys information and resources so that you can be better investors because the better is that sure you are the more you’re going to buy the more business from the G together all right great and so one more question for you Stephanie and then we will pressure wrestling’s up here so we had a question come in over email from a listener and says that I he owned several rentals free and clear they were bought at different times so he’s wondering whether you can use a portfolio loan from Collin American Finance to liquidate those properties and if so if there’s a minimum length of time that they need to have demonstrated proven any job yes so absolutely he could refinance some of his equity out of those properties via a portfolio term loan typically we have some constraints related to max LTV as well as debt service coverage right that would dictate how high up the cost spectrum we would be able to go with respect to the loan that he would be getting so what the final proceeds would be would be contingent on a number of pieces through the underwrite I think you know having prop the portfolio needs to be least materially least oftentimes will see stuff that’s 90% least when it comes in etc that’s fine we understand and want to work through with the borrower whatever that story is so that we get comfortable and then the proceeds from that loan that cash out reef is or Takeda Don all of those moving pieces and sort of how they come together in total so again as I said earlier I would certainly recommend you know reaching out getting us the information on that portfolio and exploring what type of loan we could get you in terms of total proceeds so that you could use that equity to go builds more of your portfolio okay great all right and we are running out of time right now I just turn it back to Denison Stephanie for any you know closing thoughts or remarks anything you want to leave these listeners with before we disconnect today I’ll defer to Stephanie lady to go first oh good thanks Dennis appreciate that look I think a you know the the evolution in in in real estate investing in general especially with the the really institutionalizing of the single-family investor has made a huge impact in a number of areas and we’ve talked about them today Dennis went through how the tech the technology improvements are making it easier to find properties that fit in your box serviced them manage them etc and a natural outcropping of that would be the financing evolution and I think we’re going to continue to see it evolve and I end because you have SFR experts that are sort of running these businesses like Dennis like the folks here at Colony we’re going to understand the investors needs and be able to try to craft a solution whether it’s from a lending perspective or some other technology perspective to support your business needs and I think that’s that should be is kind of the bottom line takeaway just because something doesn’t sound like it’s going to work doesn’t mean it won’t so have those conversations with us or with invest ability and grow your portfolio’s am I getting up there’s anything to eat here I’m Dennis okay turn up look I think this really comes down to to information and that’s where power is right now for the average investor because this industry’s been fragmented for so long people have just always kind of done things their own way not knowing what the rest of the market does and that’s starting to change now and it’s because of of groups like investing and calling in a lot of other very strong players out there that we’re really trying to defragment this market for lack of a better term there are weeds we have 150 people on this webinar there are another you know 10 million people to go after to help make sure they understand the resources and tools available as they’re disposable to become better investors and that’s what it comes down to it you know maybe we don’t have 10 million investors out there maybe we now only have eight but those 8 million investors are smarter better prepared better equipped to become better landlords get better returns and really view this in a very viable alternative asset class to just putting your money in the stock market or in a 401k and having a little bit more control over your own destiny and so when you realize that informations available those resources are available whether it’s data whether it’s understanding markets outside of your backyard or even understanding the way financing means of all you know Stephanie has done a great job of explaining how this market has evolved that I’m telling you guys five years ago you want to begin a financing on a single-family investment property you’re going to a hard money lender and paying 14 percent with three points you are hoping you can convince your local bank to do it which was pretty much always a no or are you getting a loan any of Fricke that was based on your personal income so unless you are a doctor or an actor or CEO you could never get more than one property so the fact that this is all evolved to really become what I consider to be the easiest time to invest in single-family real estate I think people are fools if they’re not taking advantage of the resources and information out there now so I would say just continue to do your homework use resources like our firms to help you become better smarter better equipped investors and happy humming out there okay so with that guys thank you so much for attending today as I mentioned before we’ve had so many great questions come in we weren’t able to get through them all we will be going through these and follow up via email after this airing again the reporting will be made available to all attendees following the program so keep an eye on your inboxes for links to those assets and you know we just appreciate your time today so please see contact information and websites up on your screen visit investible ‘ti visit common American Finance for more information certainly you can email my team at marketing and invest ability calm with specific questions and please keep an eye on lives in boxes we will follow up shortly and look forward to bringing you more great webinars in 2017 thanks so much have a great day thanks you guys Thanks hi

One Reply to “How FinTech is Changing the Game for Residential Property Investors”

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