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    Behind The Shine 3/22/24

    We’ve been working tirelessly to get our latest midterm rental up and running. Setting up a midterm rental is like trying to solve a Rubik’s cube blindfolded while juggling flaming torches – challenging, but not impossible! You’ll find yourself navigating a maze of paperwork, phone calls, and logistics, all while wondering why you ever wanted to be a RE investor. Until it’s done.. It’s a lot of work, but also rewarding. We’re honing our midterm rental skills and we’d love to help you out. Reach out to str@davidgreene24.com if you’re looking for someone to help manage yours!

    Conventional: 7.375%

    VA: 6.750%

    FHA: 6.625%

    DSCR: 7.625%

    If you’re in the market for a loan and need assistance, our team at The One Brokerage is here to help. ​Visit our website here​ to explore our loan options and find the right financing solution for your real estate goals and email us at intake@theonebrokerage.com to speak to one of our loan officers.

    In a recent ruling, NAR settled in a case where realtors were accused of conspiring to inflate commissions by requiring sellers who wanted to list their house in the MLS to compensate buyer’s agents some form of payment-even as low as one cent. While sellers were never forced to list their house in a MLS, a jury found it was unfair for sellers to be required to compensate buyer’s agents if they chose to do so. The $418 million settlement will be paid over four years. The funds will be deposited into a trust that is controlled by the court.In addition to the damages payment, the settlement also bans NAR from establishing any sort of rules that would allow a seller’s agent to set compensation for a buyer’s agent.

    Additionally, all fields displaying broker compensation on MLSs must be eliminated and there is a blanket ban on the requirement that agents subscribe to MLSs in the first place in order to offer or accept compensation for their work.

    The settlement agreement also mandates that MLS participants working with buyers must enter into a written buyer broker agreement. NAR said that these changes will go into effect in mid-July 2024.

    If you’re a realtor worried about these changes, I’m putting together a special free webinar just for you. Join me on April 2nd to discuss how you can prepare and adapt by signing up here.

    As Spartan League heads into the next stage of it’s evolution, I’m offering a last minute rush into the group at rates that will be grandfathered in and honored for the life of the membership. If you’ve been thinking about joining, now is objectively the best time financially to do so.

    Spartan League is evolving into a RE university built for those with five properties or less. A new core of instructors is coming in and we will be moving to a live instructional call five days a week for our members. The calls will be recorded and can be viewed at any time. If you’ve been wanting to take your RE business more seriously but have felt fear, lack of knowledge, or doing it alone has been getting in your way, you should seriously consider looking into this now.

    Topics include BRRRR, construction, short term rentals, property management, medium term rentals, financing, house hacking, rent by the room, commercial, long distance investing, budgeting, mindset, accountability, goal setting, and running a RE business (instruction for agents, property managers, etc). This will be different than anything else out there. You won’t have to choose your niche-you’ll get them all in one place. A full university.

    Members get access to a 24/7 full time exclusive online community where they can ask questions and have discussions like this.

    Spartan League members come from all walks of life, backgrounds and experiences. This means that if someone has a question, there’s always a member willing to provide support to get you what you’re looking for. We cover multiple markets across the country and have a strong female component to the community. The price will be rising soon to a yearly fee. If you want to get in early (and cheaper) email me about joining a free call and seeing what you’ll be experiencing if you become a spartan at David@DavidGreene24.com

    Email update! Please update my email to David@DavidGreene24.com and remember, I want to hear from you! Let me know if I can help you with any RE related services including financing, property management, needing an agent, bookkeeping, and more!

    I’ll be speaking at Austin Entrepreneurial Summit with Codie Sanchez and David Osborn from May 1st through the 3rd. I’ll be talking about techniques you can use to capture the client, seal the deal, and close on your opportunities using psychology as a tool. Let me know if you’ll be there!

    The David Greene Team has an off market condo in Oakland CA available for purchase. If you’ve been looking to find something and want to avoid the multiple offer situations that lead to a bidding war, here’s a great chance. Located just South of the Rockridge district and 11 minutes from the bay bridge into San Francisco, this 1155 square foot condo has two bedrooms and two bathrooms, plus comes with it’s own parking spot deeded with the property. Email KyleRenke@kw.com for more info.

    Each week I hear more and more about how tough this economy is as people I know are laid off or warned off looming layoffs. Interest rate hikes, rising cost of living expenses, and now a potential bombshell being dropped on the real estate sales industry via major changes to agent commissions are all working together to create an uphill battle for wealth building.

    Are you noticing the same? It seems like money making opportunities are slowing becoming harder to come by while expenses are only growing more. If you haven’t taken a good hard look at your budget, I recommend you do so. I spell this out in my Wall Street Journal best selling book “Pillars of Wealth” and we discuss it weekly in Spartan League. Email me at David@DavidGreene24.com if you’re noticing a similar trend!

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