Daily Data 📈
Is a vacation house the new starter home? It might just be, according to a recent write-up from Money. According to Vacasa, millennials now make up the greatest portion of vacation homeowners, and a number of them share first-hand examples of how full-time renting and part-time homeownership is the "best of both worlds."
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The contributing factors for this trend?
- Enticing interest rates
- Remote work availability
- Diverse construction options, including tiny houses
- Increasing demand for vacation homes rather than hotel stays
Bottom line? "It might seem like putting the cart before the horse, but for these buyers, it’s a strategic, win-win arrangement: They earn extra income, build wealth and have a property they can escape to whenever they please."
More Ways to Make Passive Income (That Aren't Real Estate Investing)
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We all could use extra streams of income. There are plenty of ways to diversify your income streams beyond your career and even beyond a real estate portfolio.
While it's unlikely that these particular forms of extra cash flow will replace any primary sources of income or a full investment portfolio, they are smart tactics to potentially diversify your income.
Read the full article here.
The Take
Retirement is not a one-size-fits-all scenario. Avoid associating it with dead ends and "final" destinations by evolving your lifestyle into one that prepares your golden years—as near or far as they might be!
Click the picture above to download the Take of the week!
The Word
Check out our recommended reading for the week:
- This All-in-One Platform Lets Investors Own Shares of Single Family Rental Properties (The Hour)
- These days, there are myriad ways to invest in SFR, including buying shares of one.
- Why should you care? Hey, investing is investing. But remember, the more you put in the more you get out.
- Think you need a smart building? Here are 8 real business drivers for adopting real estate tech (World Economic Forum)
- One way you might not have considered investing indirectly is via eco-tech.
- Why should you care? The field is WIDE open for entrepreneurs and investors alike.
- Multi-family housing boosts U.S. homebuilding; supply constraints seen unrelenting (Reuters)
- Demand is high, but is most significantly being met by multi-family units. Check out the stats from December and January, helpfully rolled up by Reuters.
- Why should you care? All of this will have an effect on the bottom line for SFRs too, as both owner and renter.
