Should I Invest In Real Estate In 2021? Yes! Here's Why...
March 18, 2021
16
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7:59Now PlayingShould I Invest In Real Estate In 2021? Yes! Here's Why...
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as posted by the channelWelcome back to Bold Business with your host Philip Michael! Be sure to like, subscribe, and hit the notification bell for all things Bold.
People are moving out of big cities across the country due to remote learning, high rent, and so much more. Will this trend continue? Will we ever see a return to “normal”? Does this mean that now I should invest in real estate?
To lead this discussion, our entrepreneurial and real estate expert, Philip Michael, turned to another expert in the field, CEO & Founder of The Listings Lab, Jess Lenouvel. She also, at the end, gives her real estate advice on what she thinks a first time buyer should do right now.
Will companies stick with working remotely? Right off the bat, Lenouvel says that yes we will see that continue trend, at least partially, for a lot of companies. Shopify, for instance, is a major company that will continue with the working from home trend.
Will people ever move back to big cities? Yes, though potentially not as much as before. But with major cities, like New York City, there will be a wave of new people ready to try out life in the big apple. And there will be people that will come back to the major cities because they miss that big city living they once had, or they will move to another big city in another state, like Florida.
Is now the time to invest in real estate? Lenouvel says yes! She states that she’s aware that there is very low real estate inventory across the board nationally, and could worry people. Currently, there are way more buyers than there is real estate available. That all being said, you have to understand that there is a level of real estate appreciation that’s going to happen regardless of the situation. And because inventory is so low there’s going to be wild short-term real estate appreciation for people who buy now vs those who buy three months from now.
And real estate advice for the first time buyer? Yes, get help and expertise from someone with experience in the field. Having help when navigating the real estate market will greatly benefit you and your future. She also says there are three different pieces to the money puzzle to be aware of if you’re looking to invest in real estate for the purposes of investing vs for a place to live. You have your principal pay down, what you pay every month for your mortgage, you have your real estate appreciation, and you have your rental income. A lot of people focus on rental income only, but especially right now there are other numbers to consider to help understand the value of your real estate.
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