As an extension from our last post, one of the things we wanted to talk specifically about is how we affect the community, and not just during natural disasters or emergencies. As this blog about real estate effects on the market states, investors have a direct effect on the community and its real estate. As homes are built and age, new development occurs, and the older homes start to fall behind on maintenance or simply aren't keeping up with latest trends. Newer families look to settle down and they are otherwise forced to buy old project homes or look for new houses. As investors, we afford them the opportunity to find a home in a nice spot within the older parts of the city by taking a home and remodeling it to meet latest trends, regulations, and personalized tastes. Without our involvement in the real estate market, these homes would simply become vacant, rot away, and drop property values all around the neighborhood.

When disasters occur and homes are several damaged or totally destroyed, banks don't want to get involved with potential high risk situations like that. And one of the advantages we have here in Houston is that there's a fairly large community of investors who are willing and able to take on that kind of risk through their own lending and ability to carry out a home remodel. We can single-handedly restore entire neighborhoods because of our investor community, and that is a huge altruistic power of its own. Being able to make money, save homeowners, and restore part of the city is a massive benefit to what we do, and its a power that we know we have and execute responsibly. As a community of investors, we want the city to thrive and flourish as much as any others, and we are able to do it on our own without requiring governments or banks.

There's really something to what we do other than just flipping homes for profit. Credit to http://www.dallascarpetcleaningblog.com for providing some of the content in this article.

Since Hurricane Harvey occurred last year, there has been an influx of investors that came in from out of state. Additionally, our own local investors have been pretty active. Hundreds of homes have been purchased that were damaged in the floods and are undergoing restoration. Although some see we investors as just trying to take an opportunity to make profit, the flipside is that without investors these homes may not have been restored any time soon.

The benefit that we have to the community as a whole is that we can save homeowners who are not able to live in the home or repair it, and they can't get a loan to do it either. So when homes are damaged to the point where they just sit and rot away, we are able to purchase them, restore them, and bring them back to the market. It brings an additional element of helping the community as a whole, and this could be an important aspect when approaching homeowners who are apprehensive or clearly agitated about being in the situation that they're in.

While many homes have already been renovated, there are still plenty that remain damaged and need to be taken care of. This is also a good time for those of us involved in new development to start looking into how we can build more housing for those that remain displaced, and the numbers are likely to continue to increase as some folks aren't able to find proper permanent housing and we're still receiving new residents from other cities and states.

Food for thought!

One of the most important factors in real estate is the relationships you build in the industry. As such, we've compiled a list of events that you would want to attend in the city. Many of these are regularly scheduled, so you'll see the same faces as well as new ones, and be able to expand your network of investors.

Why is your network so important?

As you build your knowledge and framework of the real estate industry, you'll find that having a network can provide multiple benefits. Meeting lenders lets you know which of them you can approach quickly to fit the deal that you're looking at. Knowing other flippers may be beneficial to know who to bring a deal to when you find one that you're interested in wholesaling. And if you're an investor, you want to get to know the people you'll be lending money to because there's a trust factor that's heavily weighted when lending money for a deal.

 

The added and indirect benefit is that many people in the real estate industry come from other backgrounds and are consistently working a more active daily business. This can lead to partnerships that may or may not be directly related to the real estate industry. You can build relationships with people in your network that may be relevant to other businesses that you're working in.

Get out there and meet other people in real estate! Check out our real estate events page to find out more about what's happening locally.