This Month In Real Estate Investing September 2024
This Month In Real Estate Investing is the monthly United States Real Estate Investor show featuring your favorite REI personalities discussing the month’s news, trends, economics, culture, and much more…
This Month’s News Items
- Colorado Mountain Towns Full of Vacant Trophy Homes and Short-Term Rentals
- Removing Texas Property Taxes Could Double Sales Tax
- Gavin Newsom Vetoes Bill Helping Undocumented Immigrants Buy Homes
- Rich Americans Buying Overseas Investment Properties; Warnings
- Real Estate Scams Are on the Rise
- Homebuyers Gain New Leverage as Real Estate Agent Pay Rules Change
- Homebuyers Need Deep Six-Figure Incomes to Afford NYC Properties
- Economies of Scale Behind Shortage of Entry-Level Homes
- Raleigh Man Alleges Fraudulent Deed Filed on His Home
- Mogul Sues Real Estate Firm for Hiding Jeff Bezos as Buyer
- Home Depot $2 Million Settlement for Overcharging Customers
- South Florida Man Nearly Victim of AI Real Estate Fraud
- SpaceX Will Take People to Mars, Likening Journey to ‘Long Sea Voyage’
Whirlwinds of Chaos Blew
This month’s episode of This Month in Real Estate Investing brought a whirlwind of industry news, economic shifts, and eyebrow-raising controversies. Hosted by the ever-charismatic James A. Brown, the September 2024 episode featured a dynamic panel of real estate pros: Igor Shaltanov, Frank Iglesias, and Branden Lowder.
The trio tackled the hottest topics in real estate, from Colorado’s housing crisis to the rise of AI-driven fraud.
Let’s dive into the episode’s major highlights, shall we?
Colorado’s Trophy Home Problem and Short-Term Rental Debate
The show kicked off with a deep dive into the housing crisis unfolding in Colorado’s mountain towns. Many of these picturesque towns are filled with vacant trophy homes and short-term rentals, leaving full-time residents struggling to find affordable housing. Local officials are pushing for the right to tax these properties, with the hopes of using the funds to build workforce housing. Shaltanov noted, “It’s a complicated issue, but the community has to balance tourism and affordable housing, or it’ll be a ghost town for locals.”
Texas Property Tax Relief: Casinos to the Rescue?
From the mountains of Colorado, the conversation shifted to the Lone Star State. Texas is looking for ways to ease its sky-high property taxes, which rake in a whopping $80 billion a year. But reducing those taxes isn’t as simple as cutting a check. One idea gaining traction? Casinos! Iglesias shared his thoughts on the bold proposal to bring resort-style casinos to Texas, using the revenue to fund tax relief. “It’s wild, but with 60% of Texans supporting it, it could be a game-changer,” he said. Texas may soon be rolling the dice on this one!
AI Fraud: The Newest Real Estate Nightmare
Real estate scams have always been a problem, but the newest wave is next-level scary. This episode uncovered the growing threat of AI-driven fraud, where scammers use artificial intelligence to impersonate property owners and trick buyers into phony deals. Branden Lowder shared a chilling story about a South Florida man who almost lost big on a $52,000 lot, thanks to an AI-generated scammer. “Technology’s great until it’s used against you. This is just the beginning,” warned Lowder.
Entry-Level Homes: Who’s to Blame for the Shortage?
Lowder also jumped in on a discussion about the housing market’s glaring lack of entry-level homes. The panel touched on a report showing how builders are focusing on larger, more profitable homes, leaving first-time buyers out in the cold. “The market’s pushing for big, expensive homes because the margins are better, but that’s choking out affordable housing,” Shaltanov pointed out. The takeaway? Entry-level homebuyers may have to rethink their strategies or wait for the market to cool off.
Real Estate Lawsuits and Celebrity Purchases
What’s real estate without a juicy lawsuit? This month, the panel discussed businessman Leo Kryss’ $79 million Florida mansion sale—and the drama surrounding it. Kryss claims his real estate firm misled him about the buyer (spoiler: it was Jeff Bezos), which allegedly cost him a $6 million discount. Iglesias couldn’t help but laugh, “If you’re selling to Bezos, you don’t need to cut a deal. The guy’s loaded!”
Special Mention: SpaceX and Real Estate—The Wild Crossover
While not directly related to real estate investing, James couldn’t resist adding a fun nugget to the episode: Elon Musk’s latest announcement that SpaceX plans to take people to Mars. Musk likened the journey to an old-timey sea voyage—dangerous, uncomfortable, but adventurous. The panel had a laugh imagining what real estate on Mars would look like. “Property on Mars? Talk about long-term investing!” quipped Lowder.
If you missed it, you can catch the replay on Facebook, YouTube, or wherever you enjoy your podcasts.
Trust us—you don’t want to miss this one!
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Show Notes
Host: James A. Brown
Visit the Legacy Wealth Collective
Guests: Igor Shaltanov, Frank Iglesias, and Eric Burns
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