The Cons of DIY in Home Renovations: Leave it to the Pros


DIY’ing your full home renovation is tempting…but should you really do it? Here, Sweeten lays out the cons of DIY for home renovations.

the cons of DIY

This is a do-it-yourself, do-it-all maker culture. Fueled by enough YouTube videos, a homeowner can feel emboldened to take on anything—even a DIY home renovation.

It’s natural to be undecided about whether you want to do that full home renovation by yourself or hire professionals. Doing it yourself can mean acting as your own project manager, or it can mean doing it all by hand (completely or partially.) In any case, the prospect of cost savings is what tempts most renovators.

However, there is a counter-argument—the cons of DIY. Is that DIY full home renovation really in your best interests? Examining the cons of DIY isn’t a scare story or a money pit narrative. Instead, it’s a window onto the scale and complexity of DIY full house renovation. Below, Sweeten outlines how to make an informed decision.

Sweeten matches home renovation projects with vetted general contractors, offering advice, support, and financial protection—at no cost to the homeowner.

Cons of DIY: Completion time

Home renovations require time and attention to make both small and key decisions. Depending on the scope, part of your home may be covered in plastic protection, or kitchens and bathrooms will be unusable. What you want is a full home renovation that operates on a compact, predictable schedule.

You have a life. Career, kids, relationships, friends, leisure: All of these have priority. This narrows down the amount of time that you have available to work on your house.

Professionals compress the schedule and complete the project much faster than if you had done it by yourself. Both parties should discuss the schedule and duration so everyone has a clear understanding and realistic expectations. Plus, they have a vested interest in finishing in an efficient manner since yours is likely one of many projects they’re completing.

Keeping on schedule

When you install your own laminate floor or paint your own bathroom, timing is easy. You have three or four minor milestones to hit, and it’s simple to keep them in order.

But when the project is as multi-layered as a full home renovation, it’s like playing multi-dimensional chess. Each project—floor, walls, windows, plumbing, and more—has its own set of milestones. Each of those projects is a milestone and must weave in with other projects. And, to make it even more interesting, you sometimes need to bounce back and forth between projects. Coordinating subcontractors within that system can get bewildering.

By contrast, contractors know how to keep scheduling straight; it’s their stock in trade. They’ll keep all of the projects running as consistently as possible. And they’ll seamlessly coordinate the movements of the subcontractors.

Cons of DIY: Quality of work

Unless you have tiled a shower before, you first need to learn how to tile a shower. The worst classroom for learning how to tile is in your own house. You do not want your house to be a test subject for your beginner tiling, wiring, flooring, or plumbing skills.

Professionals do this work all the time. With training, apprenticeships, and experience in the field, they have already worked out the kinks. Professionals generally turn out professional quality work.

Codes and permits

A vast amount of full home renovation work touches on building codes and permits. Structural work, electrical, plumbing, HVAC, and even water heaters require permits in most municipalities. All permit work must be done according to code. And just because you aren’t required to pull a permit for a certain project doesn’t mean that building code isn’t applicable.

Code-compliant work may suffer at the hands of DIYers. The pros know code and are professionally bound to turn out work that complies with the latest codes. Contractors, subcontractors, designers, and architects stay abreast of the latest changes in their field.

Cons of DIY: Finding subcontractors

Subcontractors are skilled tradespeople who do projects like plumbing, electrical, drywall, painting, or flooring.

Even if you’ve decided to DIY your home renovation by hand, you still might end up hiring pros for some projects like whole-house wiring, solid wood or engineered wood floor installation, drywall installation, tiling a shower, or blowing or rolling insulation into an attic.

Finding and lining up good subcontractors can be a challenge. Using a contractor can take that chore off of your plate since the contractor has ready access to a pool of trusted subs.

Renovating safely

Homeowners taking on full DIY home renovations risk injury in many ways. Old paint might be lead-based, or those floor tiles might have asbestos. Black mold is common in ceilings, attics, and walls. Falls—the most common type of household injury—can occur even when you are on a ladder painting crown molding.

When you hire professionals to do the job, they have the know-how, safety gear, and materials to keep themselves and you safe. Safety is second nature to them since their livelihood and health depend on it.

Do DIY renovations really save money?

One reason often mentioned for doing a DIY full home renovation is that it saves money. As long as you can keep the renovation moving and on-target, with no wasted time or materials, you just might save some money.

But there is also the distinct possibility that you may lose this bet. If your project isn’t clearing inspections, you need to do it over until you get it right. That costs money. If you decide to do a hands-on renovation, you may need to purchase tools that are used only once: a wet tile saw, a full set of drywall tools, a paint sprayer.

When you hire a professional to do your full home renovation, you might save money in a number of ways. Savings might come in the form of wholesale discounts, bulk discounts, or special perks granted by a supplier since the professional is a regular buyer. Or from years of experience, the professional may have a keen eye for finding materials that are still high-quality but less expensive.

Is a DIY home renovation the right choice?

No solution applies to everyone in all situations. A DIY home renovation might be perfect if you are hungry to learn new skills. For anyone who is interested in the process as well as the product, DIY renovation is an eye-opener. Finally, if you are short on money but long on time, a DIY renovation might be right for you.

Hiring professionals to do your whole-house renovation helps you hit those critical timing marks that keep you on schedule. The work will be done to professional quality, safely and cleanly, in accordance with local building codes. Peace of mind and the assurance that the job will be done right—and not hanging over your head for months—are just a few of the benefits of using pros to do your full house renovation.

Ready to find the perfect general contractor professional for your home renovation? Get started today!

Post A Renovation Project

Here’s what Sweeten homeowners took part in during their renovation and what their general contractors handled.

Sweeten handpicks the best general contractors to match each project’s location, budget, scope, and style. Follow the blog, Sweeten Stories, for renovation ideas and inspiration and when you’re ready to renovate, start your renovation with Sweeten.



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Your Money Is Losing Value | DO THIS NOW

Date: 2020-08-07 05:23:47

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Lets talk about Inflation so that you can understand exactly what’s going on, how this works, what this means for you, and how you can USE THIS INFORMATION to – most importantly – not lose any money. Enjoy! Add me on Instagram: GPStephan

Thank you Grant for the watch! His channel here: https://www.youtube.com/user/wgnavarre

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Now, what initially caught my attention was this headline right here:
“The Fed is expected to make a major commitment to ramping up inflation soon”
https://www.cnbc.com/2020/08/04/the-fed-is-expected-to-make-a-major-commitment-to-ramping-up-inflation-soon.html

Well…all of it really comes down to a term known as DEFLATION. This is, as you would expect…the OPPOSITE of inflation. This is what happens when the price of everything around us GOES DOWN, and all of a sudden – the longer we wait to buy something, the cheaper it becomes because our money has more purchasing power.

In a DEFLATIONARY economy, the prices of goods and services are going DOWN…so, every month, things become cheaper to buy, and if you just HOLD ON to your money…you’ll feel good knowing that it’ll be worth MORE the longer you DON’T SPEND IT.

BUT what REALLY ends up happening is that people just STOP spending money, because they know that money is just going to go up in value, so they hold off from buying anything. That causes demand for those goods and services to drop, which further causes people to spend less money, which causes businesses to scale back because they aren’t making as much money, which causes people to lose their jobs or take reduced salaries, and now because they don’t have as much money to spend, they don’t spend anything…and that sends everyone into another, far deeper recession.

Inflation, on a small, controlled scale…is a REALLY, REALLY GOOD THING. If people know their money is going to be worth just SLIGHTLY LESS in the future…it’s going to incentivize them to spend it, because if they wait too long – their money is going to be worth less. That’s good for our economy, it’s good for business, and it’s good for wages because employers can generally afford to pay a little more as their revenue increases a little more over time.

In the SHORT TERM, deflation could very well happen because businesses are shut down, people are still stuck inside, and no matter how much money the FED introduces into the economy – there needs to be a viable way for people to spend it, otherwise if you print money and just hold on to it – it’s almost as though it doesn’t exist. OR…if you have nowhere to spend it, and you just INVEST your money instead…then the INVESTMENTS begin to rise in value.

That leads ME to believe that the BEST thing to do in the SHORT TERM is make sure you have enough saved up to cover 6-9 months worth of your expenses as an emergency fund, preferably held in a high interest savings account – and then, just continually invest consistently into REAL assets like stocks and real estate that should rise on par with inflation long term. That’s it. Some people also say GOLD…but I’m still not a fan of precious metals LONG TERM, and since I’m a long term investor – I like something I can hold on to for 20-30 years and not worry about it under-performing.

But remember, in the short term – anything is possible, and the stock market is just as likely to go down as is it to go up – I have no idea, I’m not psychic, and timing the market like this is a terrible idea. BUT…given the last 100 years of data available to us…investing in the markets over a 20 year period has never ONCE produced a negative result, and that’s likely the best choice of action if you believe we’re going to see much quicker inflation once our economy begins re-opening.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

The Paradox Of The U.S. Black Home Ownership Rate


In a recent article here on the Biden housing plan, I mentioned the Paradox of the Black Home Ownership Rate – in the 30 years from 1940 to 1970 when housing discrimination against Blacks was legal and horrific, the U.S. Black home ownership rate nearly doubled going from 23% to 42%, but 50 years after the 1968 Fair Housing Act became law, the U.S. Black home ownership rate was essentially the same as in 1968. It was 41% in 2018. That paradox seems impossible but it’s true. 

Another hidden truth is that from 1940 to 1970, the Black home ownership rate increased more in the South than in the North. For example, from 1940 to 1970 the Black home ownership rate in Mississippi increased 31 percentage points (from 18% in 1940 to 49% in 1970) but in New York state the Black home ownership rate only increased 14 percentage points (from 6% in 1940 to 20% in 1970). The economic mystery is why did Black home ownership increase more in the South, despite the South being far more segregated?

A third hidden truth is about redlining. Many mechanisms segregated housing and redlining wasn’t the most common or most violent but redlining is the mechanism most often mentioned in the media. You can see the FDR administration’s 239 redlining maps here. You’ll notice redlining was concentrated in the North, not the South. Massachusetts had 27 redlining maps but Georgia only had five. New York state had 17 redlining maps but Mississippi only had one. The South in the 1930s was already extremely segregated. Redlining wasn’t a Southern-based policy that spread up into the North. The demand for redlining segregation seems to have been strongest in the North.

The shocking truth is that today, the Black home ownership rate in the South is higher than in the North. The Black home ownership rate in Massachusetts is 35% but in Georgia it’s 47%. The Black home ownership rate in New York state is 31% but in Mississippi it’s 54%.

Clearly, we don’t understand what drives home ownership, otherwise, we wouldn’t have failed so spectacularly over the last 50 years – under both Democratic and Republican administrations – to reduce the Black-White gap in home ownership rates.

I doubt the lack of improvement was caused by overt racism. Take, for instance, the famously liberal state of Minnesota. The 1950 census showed the Black home ownership rate in Minnesota was 45% which was very high. Minnesota’s Senator Walter Mondale was one of the two major sponsors of the Fair Housing Act of 1968. Another Minnesotan, Vice President Mondale’s long-time associate and his campaign manager in Mondale’s 1984 presidential campaign, later ran the largest mortgage company in the country, Fannie Mae, and was likely the most powerful person in the U.S. housing industry for several years. 

Nevertheless, despite what I assume were good intentions from Minnesotans, the Black home ownership rate in Minnesota plummeted to 24% by 2018. The White home ownership rate was 77%. Similarly, for metropolitan Minneapolis, the gap between the Black and White home ownership rates was 51 percentage points, the largest gap for any metro area in the U.S. with more than 1 million residents.

Minnesota and the U.S. clearly don’t understand how to increase Black home ownership.

Our problem might be worse than having policies that just don’t work. Some of our housing policies in the decades after the Fair Housing Act could be partly to blame for the problem. A few economic misconceptions could have blinded us to bad policies – bad policies that have totally offset the benefits of the good policies enacted. Economics might be like medicine where sometimes “the cure is the cause”? 

After 50 years, the Black home ownership rate should be similar to, or at least converging on, the White rate. We would have a far better chance of increasing the Black rate to where it should be if, first, we could explain the Paradox of the Black Home Ownership Rate – why did the Black home ownership rate nearly double from 1940 to 1970 when housing discrimination was legal but today the rate is essentially the same as when the 1968 Fair Housing Act made housing discrimination illegal?

Did something else happen around the same time as the 1968 Fair Housing Act that unintentionally stopped the previous trend of increasing Black home ownership?

We need to know what caused the paradox before we’ll know how to fix our home ownership problem. Clearly, after five decades of failure, any housing market misconceptions we have are so entrenched they’re invisible to us. But perhaps new solutions are hiding in plain sight.

I have some theories.

Be sure and click the “Follow” button in my profile below to see my future articles.



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The BRASS TAX of Wholesaling! | TFV 13

Date: 2020-07-24 21:16:55

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Welcome to this weeks Friday Vlog! This week was down to business as Francis and I lock in some deals, check out properties, and make headway on my new property. As always leave a comment below and let me know what else you would like to see from this channel in the future…and let me know what you think of the new format!

The Most Powerful Real Estate Tool Available:
http://www.MaxPropertyData.com

If you don’t already have DealMachine make sure to get it here. http://www.Therealmaxwell.com/dealmachine

Game-Changing Software My Team & I Created:
http://www.REIRail.com

Investor Carrot – http://smarturl.it/OnCarrotWebsite
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Why I’m Finally Spending Money

Date: 2020-08-24 01:22:08

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Here’s a breakdown of EXACTLY how much I spend every month, my philosophies on saving money, and how my spending has changed in 2020 – Enjoy! Add me on Instagram: GPStephan

LIMITED TIME: Get 2 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main

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Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF

My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB

BREAKDOWN:
Car Insurance: $125 per month
Gym Membership: $0 Per Month (Temporarily)
Health Insurance: $230 Per Month
Phone Bill: $70 Per Month
Internet: $75 Per Month
Utilities: $260 Per Month
Gardener: $150 Per Month
Food / Dining Out: $400 Per Month
Other: $200 Per Month
Housing: $7700 per month (Not including rents, equity, tax write offs, etc)
Tesla Model 3 Car Payment: $630 (Not including equity, tax write offs, etc)

Business Expenses:
Teachable: $99 per month
Insurance: $150 per month
S Corp / LLC Filing Gees: $150 per month
Tax Filing Fees: $200 per month
Zoom, Storage, etc: $100 per month
Credit Card Annual Fees: $130 Per Month
Full Time Help / Jack: $7500 Per Month

So, when it comes to everything…these are two big main takeaways that I have learned throughout all of my experiences saving and investing, it just comes down to this:

First, I only view my income as not how much I make, but instead – how much that money makes ME.

For example, if I earn $10,000…I don’t see that as $10,000…instead, I’d see that as $50 per month in passive income when I invest that money into buying a rental property at a 6% return. By that logic, if I’m able to invest $50,000…that’ll cover the basic grocery bill for pretty much the rest of my life. If I can get $350,000 invested in a rental property…that’s enough passive income to cover a 1 bedroom apartment in Los Angeles in a good area. And at $1 million invested…that’ll replace the average annual salary from most full time employees. I challenge you to start thinking the same way, as well…this will make the aspects of saving and investing so much easier, and over time – you can replace all of your expenses by having your money do all the work for you.

Second, beyond the essentials…I only try to buy things that I can put to work that will make more money, or can be seen as an investment.

For example, I consider the computer that I’m editing on right now to be a good use of money, that helps expedite the work I do. Or, buying an extra camera to film on so I could get a second angle for The Graham Stephan Show…or, paying extra to create a brick veneer for the background of my videos so they’re more visually appealing…or, even something like this house that I bought, I find it much more relaxing to work outside and come up with new content – and when I feel more at ease, I tend to produce better quality. If you can find a way to coordinate your expenses around things that will help INCREASE your productivity or income, it can be absolutely worth it.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Weekly Housing Market Monitor: What’s Happening in the Housing Market?


Every week, NAR Research releases the Weekly Housing Market Monitor, tracking the state of the housing market and related industries in this unprecedented time.

Some highlights from the latest report:

Contract Signings and Pending Contracts

  • The housing market continues to recover strongly, fueled by low mortgage rates. Contract signings during the past four weeks (ending September 13) were up 23% from one year ago, a strong pace despite the slight decline from last week’s pace (26%) as we enter the fall season.
  • In the past four weeks (ending September 13), there were 9 new pending contracts for every 10 new listings, a slower rate than the 9.9 ratio through July 5.

Days on Market and List Price

  • Properties sold more quickly in the past four weeks (ending September 13), with the median days on market at 22 days, a slight increase compared to the prior four weeks when it was at 16 days, in part due to the seasonal slowdown.  This is far below the 38 median days on the market about one year ago.

  • On average, properties also sold at 97% of the list price in the past four weeks (ending September 13), a slight dip from the 98% ratio in the prior four-week period.

Home Price Growth in Metro Areas

  • Based on preliminary information of sales transactions during the four weeks ending September 13, the median existing homes sales prices in 40 areas tracked by NAR were up over 5% in 37 metro areas, with the strongest growth in the Bridgeport, CT, and Atlantic City. Prices rose year-over-year except in Ann Arbor, Michigan. NAR releases the official price figures on a quarterly basis.
Bar chart: Year-Over-Year Percent Change in Median Existing-Home Sales Price in the Four Weeks Ending September 13, 2020

Cost of Lumber Rising

Demand for lumber for both residential and commercial construction has pushed up lumber prices. The producer price index for softwood lumber was up 45% in July from one year ago.

  • According to the National Association of Homebuilders, lumber costs for the average single-family home have climbed more than 130% since April 2020.
  • This has resulted in an increase of more than $16,000 in the price of a new single-family home and $6,107 for a multifamily home.

Open Houses

  • Public interest in open houses dropped 49% last week compared to a year earlier. However, interest for open houses has increased significantly since the beginning of April (95%). At the local level, interest remains strong in Montana, Connecticut, and Rhode Island.

Read the full report.



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Artisanal Candles (and More) via Wax Atelier in the UK


Founded in 2017 by designers Lola Lely and Yesenia Thibault-Picazo, London-based Wax Atelier “revisits traditional techniques,” as they say, “ranging from candle dipping, paper making, to crafted textiles using natural wax to waxed linen food wraps.”

Here’s a look:

A bundle of Eight Green Tea celebration candles (£ Above: A bundle of Eight Green Tea celebration candles (£22). Each pack ranges in a palette of Mothers Milk, Moss and Seaweed. When lit, the candles release a subtle aroma of matcha tea and honey. 

For the Double-Dipped Twisted Candle (£data-src=
Above: For the Double-Dipped Twisted Candle (£12), a  yellow beeswax candle is dipped in a mix of dyed beeswax.
A bundle of eight Celebration Candles in Pink Blossom (£
Above: A bundle of eight Celebration Candles in Pink Blossom (£22) are made with a fusion of beeswax and madder dye.
A set of ten Double-Dipped Birthday Candles is £.
Above: A set of ten Double-Dipped Birthday Candles is £15.
The Waxed Linen Roll-Top Bag (£) is hand-dyed with flower heads and roots; ideal for use as lunch bags or to store bread,  grains, root vegetables, and more.
Above: The Waxed Linen Roll-Top Bag (£28) is hand-dyed with flower heads and roots; ideal for use as lunch bags or to store bread,  grains, root vegetables, and more.
A set of three Waxed Linen Food Wraps is £
Above: A set of three Waxed Linen Food Wraps is £22 and is made with English linen naturally dyed with flower heads, roots, and wood bark.
A detail of the waxed linen food wrap.
Above: A detail of the waxed linen food wrap.

For more natural dye inspiration, see:

Color Explosion: Linens Imbued with Natural Plant Dyes

DIY: Natural Turmeric-Dyed Tablecloth

Dyed in Dublin: Kathryn Davey’s Naturally Tinted Textiles



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YOUR MONEY IS IN DANGER | HOW TO PREPARE

Date: 2020-06-03 18:49:28

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Let’s discuss the stock market rally, statistics of millionaires, the recent auto loan problem, and several other economic warnings that have a direct impact on your money – Enjoy! Add me on Instagram: GPStephan

LIMITED TIME: Get 2 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main

JOIN THE WEEKLY MENTORSHIP – https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/

THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw

The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF

My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB

ALL ARTICLES HERE:
https://news4sanantonio.com/news/offbeat/man-breaks-into-cali-bank-to-heat-up-hot-pocket-gets-arrested-says-it-was-worth-it
https://www.reuters.com/article/us-health-coronavirus-usa-stocksales/u-s-companies-issue-shares-at-fastest-rate-ever-selling-the-rally-idUSKBN2383NG
https://www.cnbc.com/2020/05/27/millionaires-bet-that-stocks-will-take-at-least-another-year-to-recover.html
https://www.cnbc.com/2020/05/28/millionaires-cut-spending-postpone-big-purchases-for-at-least-a-year.html
https://www.cnbc.com/2020/06/02/wells-fargo-cuts-back-from-making-loans-to-independent-car-dealerships.html

FIRST: It was found that US Companies issued more than $60 BILLION worth of stock in May, the BIGGEST amount EVER – as prices rallied from a potential recovery.
Companies sell off shares like this to raise money NOW, and they want to lock in the current rally JUST IN CASE the market drops back down…so, even though the headline is alarming, it makes sense. Companies get more more cash on hand to weather a downturn, they get to sell while people are buying…and even though we COULD see a stock market drop in the future, it doesn’t guarantee prices will go down from here.

SECOND: Wells Fargo and the recent announcement that they’ll NO LONGER be issuing Auto Loans for independent car dealerships.
It’s a smart move for Wells Fargo, but a BAD sign that the used auto industry is about to take an even deeper hit, and most likely for the foreseeable future…getting a loan is going to become a lot more challenging for everyone.

THIRD: Millionaires plan to reduce their spending
I think it’s reasonable that, during tough times…most people reduce spending and postpone purchases. It’s not surprising, either, that many of them think their assets will be the same or HIGHER in the next 6 months.

FOURTH: Nearly two-thirds of millionaires said that it would take the market at least a year to recover back to its previous all time high.
I interpret this as rather optimistic that the market would rebound so quickly. And while it says that they “only plan to put about a third of their money into stocks” – that’s actually a significant amount of money, with the MAJORITY of millionaires ADDING to their stock position during the decline.

FIFTH: CFO’s believe the DOW will fall another 20% down to 19,000
Any rational, NUMBERS DRIVEN person can look at the stock market – compare it’s relative value of where it was, versus where it is now…make the connection with our current economic environment, which is terrible…and then make the conclusion, that we shouldn’t be trading at these levels right now…and they would be right! BUT…there is an element to the market that is totally irrational, money HAS shifted to companies with a strong online presence, and instead of trying to go against it – it’s better to be cautious and invest long term.

SIXTH: Real estate saw the biggest monthly gain in 2 years
HOWEVER…the DECLINE would potentially come once more sellers begin to list their homes for sale…which, could very well happen in hard hit tourism cities like Miami and Florida. And, we could see a drop in sales prices once the reality sinks in that jobs might not come back as quickly as we expect. I’ve mentioned this in a video before, but real estate very much lags the rest of the market, and it’ll likely take us 6 months to see what truly ends up happening TODAY…so, even though there is some optimism here, it’s something to keep a close eye on.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

Triple Threat Wholesaling | Max’s BEGINNINGS & Nas FOUGHT his TEACHER!

Date: 2020-07-21 15:57:39

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I talk about the early days when me and Nas met, and talk about some funny stories from back in the day. this episode we brought on a new Guest, VINCE! Check out his links below. As always leave a comment below and let me know what else you would like to see from this channel in the future…

If you don’t already have DealMachine make sure to get it here. http://www.Therealmaxwell.com/dealmachine

Game-Changing Software My Team & I Created:
http://www.REIRail.com

The Most Powerful Real Estate Tool Available:
http://www.MaxPropertyData.com

Investor Carrot – http://smarturl.it/OnCarrotWebsite
Property List Manager – http://smarturl.it/ListManager
REISkip – http://www.REISkip.com
REI RAIL – https://www.reirail.com/

Connect with me:
http://www.instagram.com/therealmaxwell

Connect with the Guys:
http://www.instagram.com/realestatedoru
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Evicting Tenants – My Thoughts

Date: 2020-06-25 17:05:15

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A new study shows that up to 23 million tenants are at risk of eviction in the coming months – here are my thoughts, and what can be done about it. Enjoy! Add me on Instagram: GPStephan

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Across the United States, Real Estate Eviction Freezes are slowly beginning to expire – meaning, landlords can begin issuing eviction notices for tenants who haven’t been paying their rent. Now, on the one hand – missed rental payments like this are NOT forgiven, and just because a tenant can’t be evicted, doesn’t mean that they DON’T owe rent…but, on the other hand, if tenants didn’t have the money to pay rent – why would they, all of a sudden, have the money to pay when the eviction freeze is lifted?

Unfortunately, though – there’s no solution where EVERYONE wins, and it’s going to be difficult for everyone involved. So, that just leaves us with a few options: one, if you’re a tenant: try working out a deal with your landlord. I’ll tell every landlord the same thing: evictions are a last case resort, and while there ARE cases where eviction is absolutely necessary: it should NOT be the main focus.

Instead, as a Landlord – it’s MUCH better, and CHEAPER, to work out a deal where your tenant can continue living in the property, and get on a payment plan to make up lost rent, than proceed forward with an eviction. Logistically, if the eviction freeze is lifted and landlords all rush to get evictions out – the eviction process is likely to take awhile. Courts will be backed up, and unless they find a way to expedite all the claims – it could take several more MONTHS to from start to finish to go through an eviction.

Now, I also get it – owning a rental property is a business, and when you have a client not paying you for your service, you’ll need to demand paying or cut ties. But, this is a unique circumstance where a BETTER outcome for EVERYONE is typically in working out a payment plan and KEEPING the tenant, or working out a reduced rent in order for the tenant to continue paying and living in the property…usually, that’s way cheaper than cleaning up the unit and then waiting for a new tenant to move in.

I also HIGHLY recommend another alternative to evictions – and that would be “Cash for Keys.” This is a practice in which the landlord will pay the tenant to vacate the property by a certain date, and this does a few things – the landlord can get a tenant out faster, can re-rent the unit faster, and doesn’t miss out on lost rent – and, some of those savings are passed on to the tenant in exchange for leaving.

In both situations – whether it be a cash for keys, or working out a payment plan – both sides work together and should HOPEFULLY come to a resolution where everyone is happy. If that doesn’t happen, and there’s a MASS wave of evictions – then the real estate market could be headed towards some serious trouble, not to mention – all the people that’ll be forced out of their homes.

Until then – it’s up to us to do the best we can to work together to find a happy middle ground – and I have a feeling, payment plans, reduced rent, or a cash for keys option would be WAY less expensive and time consuming than waiting for an eviction in the next few months.

For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.