510 | Real Estate 2024 Update | Scott Trench
ChooseFI
Brad Barrett | Choose FI Media
4.8 • 5K Ratings
🗓️ 16 September 2024
⏱️ 57 minutes
🧾️ Download transcript
Summary
In this episode: the lock in effect, renting vs buying, househacking in 2024, interest rate, and real estate investment.
In this episode, Scott Trench of BiggerPockets shares invaluable insights into the 2024 real estate market, breaking down everything from housing supply to interest rates, syndications, and investment strategies. Whether you’re a seasoned investor or just curious about real estate, this episode provides a window into the current state of real estate investing the FI way!
🔑 Key Themes Discussed:
- The impact of rising interest rates on real estate markets in 2024
- The “lock-in effect” and how low-interest mortgages affect housing supply
- Rent vs. buy decisions in today’s market
- The rise of multifamily and single-family housing supply, especially in regions like Austin
- House hacking in 2024: Is it still viable?
- The state of commercial real estate and multifamily investments
- How interest rate trends impact real estate investors
- Opportunities for investors in a downturn: Finding deals amidst crisis
- Syndications: Potential pitfalls, bad actors, and lessons learned for 2024
- Real estate investment strategies: What to do with your mortgage and how to balance risk
🕒 Chapters:
- 00:00 – Introduction: Welcoming Scott Trench
- 01:00 – Rising Interest Rates and Market Effects
- 03:00 – Housing Supply and the Lock-in Effect Explained
- 04:30 – Rent vs. Buy: How the Calculus Has Changed
- 09:00 – The Build-to-Rent Industry and Single-Family Rentals
- 12:00 – House Hacking in 2024: Is It Still Worth It?
- 16:00 – Multifamily Housing Supply and Regional Trends
- 17:00 – Commercial Real Estate: What’s Happening Now?
- 20:00 – How Interest Rates Are Crushing Commercial Investors
- 24:00 – Opportunities Amidst a Crisis: Where to Find Deals
- 27:00 – The Real State of Syndications: Risks and Rewards
- 33:00 – Evaluating Syndicators: How to Find Good Deals in 2024
- 36:00 – Real Estate Investment Strategies: Notes, Funds, and Lending
- 43:00 – Pay Off Your Mortgage or Invest?
- 50:00 – Long-Term Real Estate Bets and Holding Strategies
- 56:00 – Wrap-Up: Key Takeaways and Final Thoughts
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Transcript
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| 0:00.0 | Hello and |
| 0:02.0 | today on the show we have our good friend Scott Trench, |
| 0:04.3 | the CEO of BiggerPockets, |
| 0:06.2 | which is the world's biggest online source |
| 0:09.0 | and community of real estate investors. |
| 0:11.7 | And Scott is just a wealth of knowledge every single time he comes on. I love the conversation. I love his unique perspective and obviously he has the pulse of the real estate market. So we're going to talk everything from the |
| 0:24.7 | ramifications of interest rates increasing, what's going on with commercial real estate, |
| 0:29.4 | last time he was on he had some interesting predictions, we'll see if they came true to syndications and |
| 0:35.8 | what he's seeing there. |
| 0:37.1 | I think there's some really interesting stuff going on in real estate. |
| 0:39.9 | This is going to be a fun one. |
| 0:41.0 | With that, welcome to choose that. I think you're going to be a fun one. With that, welcome to choose that thigh. |
| 0:43.0 | Scott, my friend, it is always good to see you. Thanks for coming on. |
| 0:53.5 | Thanks so much for having me back, Brad. Really great to be here. |
| 0:56.5 | Yeah, this should be fun. So, like we alluded to there, I guess episode 426 came out in February of 23 that's where we talked about some of these |
| 1:07.4 | the beginnings right okay interest rates had already started to rise at that point but it was still very very early and |
| 1:14.8 | clearly they're up and they seemingly are staying up. What are you seeing on the |
| 1:20.9 | ground? I mean you have a better pulse of the real estate market |
| 1:23.8 | than anybody I know. What are the ramifications of that? |
| 1:26.4 | Yeah, so it's been an interesting couple years. The rise in interest rates have |
| 1:30.2 | led to a number of interesting dynamics which may be review for some people or new to folks who haven't been paying attention to the industry as much. |
| 1:37.0 | The most notable and I think one that hits the home for perhaps the most Americans is this concept of a lock-in effect where if I have a house that has a 3% |
... |
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