Navigating Affordability Issues in the Real Estate Market with Mike Tedesco
Mike Tedesco is the CEO of Appraisal Nation with decades of experience in lending, banking, credit, title, closing, appraisals, and real estate investing. He has been around through different economic cycles and he is with us today to help us understand what’s going on behind the scenes in the real estate space.
Listen now to learn more about the truth behind today’s real estate market and how you can remain profitable through these challenging market conditions!
Key Talking Points of the Episode
00:00 Introduction
00:32 What is Mike’s background?
02:10 What should people be paying attention to in today’s market?
04:34 How much would a household need to make to afford median housing?
06:29 What is it like to be in the appraisal business?
07:14 Where did Mike learn the systems and processes for his business?
11:41 How will your relationships help you manage your business?
12:32 What got Mike into owning real estate?
15:15 What does the real estate market really look like today?
17:23 What is currently happening behind the scenes in the real estate market?
19:02 How can investors pick a market to invest in today?
20:29 What kind of markets are doing well for short-term rentals?
22:36 What challenges are flippers facing in today’s market conditions?
24:59 What is the real estate class?
27:32 What is Mike’s best advice for real estate investors today?
30:07 What is the best way to get your education in the real estate space?
33:10 How should real estate investors approach the market today?
37:46 Why is it important to diversify your investments?
40:02 How can understanding the power of compounding help you grow?
Quotables
“The biggest thing that’s being overlooked right now is what’s happening in the affordability sector. As homes continue to rise, the median income is not catching up.”
“More and more people want to be in a home and if they can’t afford to buy that home, then investors are gonna buy that home and they’re gonna rent those homes, and it’s limiting the market.”
“Buying real estate today is always better than buying real estate tomorrow and there are so many programs out there for everybody.”
Links
Website: RCN Capital
https://www.rcncapital.com/podcast
Website: REI INK