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NFTs in Real Estate: Temporary phase or an enduring fixture?
Are the crypto world and NFTs sunsetting? Or is what's happening simply a reset shaking out the con artists, scams, and the hyperbole that had run amok? If you ask Joe Jesuele, he will tell you it's the latter. And Joe knows crypto and NFTs. Joe is a real estate entrepreneur, a tech innovator, a passionate problem solver, and a remarkably humble leader. Yet, he's purposefully remained an under-the-radar type of guy – until recently. As the Founder and CEO of HomeJab, the leading on-demand professional real estate photography and video marketplace for real estate pros, Joe is one of the foremost experts on visual real estate content. From standard to 3D video home tours, floorplans, aerial footage, virtual staging, and more – he's remained at the forefront of evangelizing the importance of real estate imagery. He was an early real estate video pioneer, and his penchant to innovate manifested most recently in the debut of the first NFT platform for real estate images. Powered by HomeJab, Joe created an innovative alternative to stock photo services. Most importantly, and crypto world enthusiasts will understand this, the platform gives participating professional real estate photographers 96 percent of all sales proceeds – the highest compensation available from a major stock photo platform. People don't realize that the big stock imaging firms only pay photographers pennies in royalties on their images. The NFT marketplace for professional real estate photography images is now at real.art. The next phase of NFTs in real estate Because Joe knows crypto, he can see the forest for the trees. In March, he wrote a blog about real estate photography and the need for NFTs. It's an excellent primer for many real estate pros trying to wrap their heads around this industry. Most recently, he began another NFT-related effort in real estate. HomeJab launched a novel real estate agent marketing method that uses a real estate-backed NFT to promote the sale of a home. Unlike many blockchain efforts, Joe isn't trying to displace real estate agents. On the contrary, his approach keeps agents at the center of the transaction – and enhances the need for outstanding professional real estate photography. He's just creating a new way to reach crypto enthusiasts who want to buy a home with crypto. You can see the first NFT listing at nft.homejab.com. The cream is rising to the top The shakeout in the crypto world has not deterred enthusiasts like Joe. On the contrary, what is happening benefits efforts like the ones Joe is undertaking. That's because the NFT-related innovations he is creating offer practical value. As a pragmatist, Joe is looking for ways that NFTs could be used in real estate to provide real-world benefits. With his latest effort, for example, he is not trying to change the primary path of how real estate is sold. Instead, through the new HomeJab NFT platform, Joe explains that rather than change the legal ownership of the property, the title is still transferred into the buyer's name by a title company, just like a normal transaction. "Purchasing the NFT is like sending in an instant offer," Joe explains. "It doesn't change the title; it gives you an option to purchase." HomeJab sends the funds used for the NFT purchase to a title company, and then the transaction is completed in the usual way – and it also gets recorded on the Ethereum blockchain. Joe says, "I think it makes sense to do both. It's not feasible right now to remove the government entirely from the transaction (considering current security issues we've seen in crypto). But I also think it does not make sense to rely entirely on the government and solely on the traditional way. Our approach is a step toward decentralization: Not an overhaul of the entire system." Joe adds that the overarching goal of HomeJab and its NFT platform was to keep the process similar to how it is now. "We want to add a new way for crypto enthusiasts to use their portfolio to submit quick offers. I think this is the most scalable way to onboard as many real estate professionals and homeowners as possible to the blockchain. Setting up LLCs for each property does not appear to be as practical with large volumes," noting his firm shoots thousands of homes every month. The one thing Joe wants to make crystal clear is the new NFT platform is a service for real estate agents, not a FSBO site. "We're promoting NFTs from the photo shoots we complete for the real estate agents that hire us. Therefore, our service becomes a way for the traditional real estate industry to engage with the crypto community. Anyone who hires us for a photo shoot can get a free NFT listing," he added. Joe sees what he is doing now as a possible bridge to the future. Finally, it's worth taking a minute to review the "How it Works" section at the bottom of nft.homejab.com and the FAQ page. Then you can decide for yourself: Is crypto dead? Or is this a Mark Twain moment, and the reports of its death are greatly exaggerated? Decide where you find yourself on this question, but time will tell. To view the original article, visit the WAV Group blog.
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Are You Ready for Real Estate Investing?
Real estate investing is among the oldest and most rewarding asset classes. It's a great way of building wealth and can be one of the more reliable types of investment. New investors are usually aware of these benefits, but some are not aware of the several different categories of real estate investments available. For a savvy investor, focusing your efforts on a specific niche can be the first step in succeeding in your pursuit of financial independence and the benefit of a passive income. What do you need to know about the best types of real estate investment opportunities for your needs? Let's find out. Types of Real Estate Investing In 2020, the revenue from the property management field reached an unprecedented $88.4 billion in the U.S. If you're a prospective investor determined to develop, acquire, own or flip real estate, you should first understand the industry by dividing property investment into its various categories. Residential Based on US Census Bureau records, renter-occupied housing units accounted for about 30.4% of the overall inventory during the fourth quarter of 2020. Renting just makes sense for a large portion of the population, even if they have a choice to rent or own a property. These properties include houses, apartment buildings, vacation houses, and townhouses where individuals or families pay you to reside in the property. Details about their length of stay are stated in the rental or lease agreement. Pros: short leases (due for renewal every 6-12 months) allowing you to capitalize on any positive adjustments in the market conditions. Commercial Office buildings and skyscrapers basically constitute commercial buildings. Property owners lease out these spaces to companies or small business owners, who then pay rent to use the property. Commercial real estate prices have been on an upward trend. This statistics indicates this category has a considerable ROI in the long term. Pros: Benefit of longer leases, usually multi-year. Typically, this approach helps generate greater stability in cash flow and often cushions you as the property owner from rental rates decline. Cons: Markets fluctuate, and its possible rental rates may increase rapidly within a short period. Due to the dated agreements, a property owner may not have the flexibility to increase the rent to match the competitive market rates. Industrial These properties generate income from customers who frequent properties such as industrial warehouses, storage units, distribution centers, manufacturing facilities, and other purpose-built properties. As a real estate investor, you charge significant fees and earn service revenue as a means to increase your return on investment. Retail Retail properties include shopping malls, strip malls, retail storefronts, among others. Depending on the agreement type, property owners can also receive a portion of sales generated by the stores alongside a base rent. This strategy helps create an incentive for them to maintain the property in remarkable condition and attract shoppers. Mixed-Use Typically, mixed-use properties blend any of the above classifications into one project. This catch-all category of real estate investments is attractive for those with considerable assets since they offer a level of built-in diversification that helps control risk. Real Estate Investment Trusts (REITs) REITs have risen in popularity in the real estate investment community as an alternative way to invest in real estate. They are popular with investors who don't want the responsibility of overseeing the management of an investment property. But what's a REIT? This real estate investing strategy involves investment in shares of a corporation dealing or owning real estate properties and allocating a considerable amount of its earnings as dividends. Cons: tax complexities. Dividends don't enjoy the same favorably low tax rates common stocks attract. But REITs can be an excellent addition to your investment portfolio, preferably when you buy them at the right value—with an adequate margin of safety. Besides, you can also opt for more esoteric areas like tax lien certificates. As a rule of thumb, lending money for real estate is regarded as real estate investing and can also be accounted for as a fixed-income investment. Akin to investing in bonds, you generate your returns by lending money in favor of interest income. Investing in a real estate/building and later leasing it back to a tenant, for instance, as a restaurant, is at par with fixed income investing instead of an actual real estate investment. In this case, you're simply financing a property—but this somewhat hedges between investing and financing. Overall, you technically own the building and have a claim to its appreciation and profits. Getting Started in Real Estate Investing Every kind of investment has its share of potential benefits and shortcomings, and real estate investing is no different. Smart investors minimize their risks by anticipating the twists in cash flow cycles, economic cycles, potential for natural disasters, and changes in lending traditions. So, it's best to analyze and weigh the opportunities very thoroughly before deciding if real estate investing is the right choice for you. Real estate investing can carry many rewards with benefits potentially lasting a lifetime. If you apply due diligence, you can capitalize on the available opportunities in what can be a fun and lucrative path. To view the original article, visit the iHomeFinder blog.
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How to Use the BRRRR Strategy to Your Advantage
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Reasons to Invest in Real Estate as a Real Estate Agent
Are you making the most out of your involvement in the real estate industry? As an agent, you are in the perfect position to become a profitable investor in the industry. There are many reasons to invest in real estate as a real estate agent and at least one is sure to grab your attention. It is understandable you may not want to feel like your life is completely consumed by the real estate industry. With your existing knowledge, though, and skill related to the industry, you are only missing out if you aren't investing in it.
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Foreign Real Estate Investing: How Much Do You Know?
I hear so much about foreign investors in the real estate industry; some agents run scared, some agents embrace foreign investors and most just don't have a clue and don't understand that part of the business. I am one of those who had no clue about foreign investors, visas, the IRS and many other questions. Where I live in Central Florida is apparently a hot bed for foreign investors, so I decided to look around for help so all of us understand more about foreign investors and what opportunities a Realtor might have.
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Moderne Ventures' Virtual Demo Day
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How to: 3 Steps to Investing in your Real Estate Business this Year
This is a new year, which means all the more reason to hit the reset button and start prioritizing. If you haven't already done so, you may ponder the thought of refreshing, re-evaluating or even starting your real estate business, and this is the perfect year to do so. But the question is, how do you start investing in your real estate business and where do you start? The solution is an easy one and we have a few tips that may help you out.
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Market Investment Properties to Get Ahead During the Off-Peak Season
Now that the summer rush of selling homes is over, how can you bolster sales during off-peak times? One great way is to advertise investment properties to real estate investors. Many buyers are looking for a new income stream as well as properties that will appreciate in value over time. To start, you will want to make sure your clients understand the time required to manage the property and the associated costs. Investors are interested in the pros and cons of different types of retail property and you can help educate them.
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Working with the Investor Client: 10 Tips for Success
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The Hidden Cost of Paper Transactions
Are the tools and processes you use in your real estate business giving you the maximum return on your investment? If you're still battling through mountains of paperwork, there may be room for improvement. Examining the Hard Costs of Paper Depending on what state you live in, a single real estate transaction can require signatures on anywhere from 10 to 100 documents. The cost of all this paperwork makes a significant impact on your bottom line. Let's take a quick look at where these expenses lie: Printing - On a standard office printer, a single black-and-white page costs $0.03. With color, the cost jumps to $0.08. Delivery - The cost of postage and courier fees adds up quick. For documents that can be signed locally, factor in the time and expense of travel, as well as the hassle of coordinating meeting times that are convenient for all parties. Storage - Storing and managing paper documents costs over 50 times as much as electronic records, thanks to necessities like filing cabinets, boxes, folders, and more. Not only will you need more space as time goes on, but there are special considerations that paper archives need, like temperature, humidity, and fireproofing. Document loss and reproduction - Whether lost in transit or just lost in the shuffle, paper documents are always at risk of going missing. When this happens, you re-incur the costs of printing these documents again.
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Is That Tech Investment Worth It?
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