10 Cities with explosive growth potential 🌆

Today’s top stories…

• Discover 10 cities that could skyrocket in 2024!

• AI is revolutionizing the real estate industry

• REITs: investing without the hassle of being a landlord

• 🔥 Deal of the Day! 🔥: 3 bd | 2 ba | East Chatham, NY

Today’s mortgage rate (30 Yr. Fixed): 7.09%

10 Cities Where Your Real Estate Investment Could Double in 2024

If you’re having trouble finding deals in 2024, check out these 10 hot cities:

• Boise, ID: Out-of-state buyers are flocking to this affordable tech hub. Average home value: $462,151.

• Raleigh, NC: Millennial magnet with a booming tech sector. Average home value: $427,565.

• Louisville, KY: Affordable housing market ripe for growth. Average home value: $229,026.

• Austin, TX: Tech powerhouse with a 10.4% projected home value increase. Current average: $525,545.

• Las Vegas, NV: More than just casinos! 11.1% projected home value growth. Current average: $402,264.

• Phoenix, AZ: Affordable desert oasis with an 11.8% expected home value rise. Current average: $416,595.

• Redding, CA: Accessible NorCal gem with a 7.3% projected home price jump. Current average: $378,664.

• Provo/Orem, UT: Silicon Slopes hotspot set to double in value within 2-3 years.

• Madison, WI: Thriving college town poised for 100% value growth in 5 years. Current average: $359,889.

• Jacksonville, FL: Low cost of living + booming logistics industry = 2x value potential in 4-5 years. Current average: $290,910.

Bonus Tip: Eco-friendly renovations and community impact projects can sweeten the deal for modern investors.

AI: The Game-Changer in Real Estate

As AI continues to transform industries across the board, the real estate sector is no exception. In fact, the AI in real estate market is projected to reach an astonishing $226 billion in 2024, boasting an impressive 37.4% compound annual growth rate. This rapid adoption is driven by the promise of enhanced performance and a sharpened competitive edge.

AI is making its mark in four key areas of real estate operations. First, property appraisal and valuation are being streamlined through AI-powered analysis of vast data sets, enabling faster and more accurate estimates while identifying potential investment risks. Second, document generation and management are being automated, with AI systems capable of sorting, storing, and even creating custom documentation with minimal human input.

Third, market research is undergoing a revolution thanks to predictive analytics that can forecast price dynamics and trends, providing data-driven insights to inform business strategies. Finally, marketing and advertising are being transformed by AI's ability to analyze competitors, generate personalized content, and automate distribution across multiple platforms.

Jeff Fisher, a real estate agent from Arizona, attributes his business growth from $1 million to over $10 million in just two years to the power of AI-automated listing creation and distribution.

As the AI wave continues to surge, real estate professionals who invest in custom AI solutions tailored to their unique needs will be well-positioned to capitalize on this transformative technology. Embracing AI is no longer a choice but a necessity for those seeking to thrive in the rapidly evolving real estate landscape.

REITs: Your Ticket to Real Estate Riches

Real estate investment trusts (REITs) have been on a tear lately, with some delivering jaw-dropping returns. Diversified Healthcare Trust (DHC) skyrocketed 242.63% in the past year, while Angel Oak Mortgage Inc. (AOMR) and Tanger Outlets (SKT) posted impressive gains of 66.84% and 59.56%, respectively.

But what exactly are REITs, and how can you get in on the action? Simply put, REITs are investment vehicles that allow you to invest in income-generating real estate without the hassle of directly owning and managing properties. They come in three flavors: equity REITs (which operate like landlords), mortgage REITs (which own debt securities backed by properties), and hybrid REITs (a mix of both).

While publicly-traded REITs offer the most liquidity and transparency, public non-traded REITs and private REITs are also available for accredited investors willing to stomach higher minimums and longer lock-up periods.

The perks of investing in REITs are hard to ignore: steady dividends (thanks to the requirement that they pay out 90% of their annual income), potentially high returns, and lower volatility compared to traditional stocks. However, it's important to keep in mind the potential drawbacks, such as heavy debt loads, low growth, and tax implications for dividends received outside of tax-advantaged accounts.

Starting your REIT journey is as easy as opening a brokerage account and buying individual REIT stocks or opting for the instant diversification of REIT mutual funds and ETFs. Some top-performing options include the Baron Real Estate Institutional Fund (BRIIX) with a 13.13% one-year return and the Real Estate Select Sector SPDR Fund (XLRE) with a 6.03% one-year return.

As with any investment, it's crucial to do your homework and understand the risks involved. But if you're looking to add a dose of real estate to your portfolio without the headaches of being a landlord, REITs might just be the ticket.

🔥 Deal of the Day! 🔥

Price: $875,000

Address: 98 Goetz Rd, East Chatham, NY 12060

This picturesque property located at 98 Goetz Rd, East Chatham, NY, with its sprawling, serene landscape, spacious and elegantly designed interiors, and proximity to nature and local attractions, makes for an ideal vacation rental for those seeking a peaceful retreat with the comfort of a luxurious home away from home.

Airdna data:

Estimated monthly payment: $6,078/month (if financed)

Estimated monthly revenue: $5,708/month

Cashflow excludes additional operating expenses. Always confirm local regulations, HOAs and permits before purchasing a property.

See you tomorrow!

✍️ Brett