TruHome Trucks Hitting the Road

We could not be happier with how our Logo looks on our trucks! Be on the lookout for us around Evansville and the surrounding areas! Please follow us on FaceBook!


Are You Ready to Take Control?

As each one of us navigates this new daily life there is a lot of uncertainty what tomorrow will look like. Please take a moment each day and be thankful for your loved ones! Today, we got some good news that the Senate has passed a $2 Trillion Stimulus Bill. At this time there is very little information out there on how these funds will help small businesses and households. Right now we are on edge and want to know when this will all end.  How do we get through this? We go on the OFFENSE! In a time like this, we all need to ensure our basic needs are covered. How do you get those basics covered? 

  • Determine what you need to live on a monthly basis
    • Rent, mortgage payment
    • Utilities
    • Food
    • Car payment
    • Health Care 
    • All other bills

 

  • Are you eligible for unemployment benefits?
    • If yes, make sure you apply immediately
    • If no, are you eligible for other State or Federal assistance

 

  • Contact your Landlord or Mortgage Company
    • Ask for a deferment or forbearance for your monthly payment
    • Determine what option works best for your situation
      • If you need HELP please call us at (812) 777-5850 or email us at Ryan@truvest.co. Free of charge! 

 

TIP: Deferred/forbear payments-Options

  • Deferment- Could be moved to the back of your loan or rental agreement-Extended terms
    • Could increase your monthly payment
  • Forbearance- You will not have to make payments for a period of time
    • Payments can be moved to the back of your loan OR
    • The payments will be added to the balance of your mortgage or rent.
    • This option could increase your monthly payment
  • Contact other creditors
    • Ask if they offer deferment/forbearance/hardship programs

 

Next Steps: Side Hustle

 

Stay tuned!


TruPodcast-Corona Help Day Three

Day Three

Today, I wanted to talk about how things are going with TruVest and how we are reaching out to other small businesses to see how we can help. This virus is taking the life out of our economy, but it does not mean you cannot still thrive. If you are a bar, restaurant or other retail company there are other options available to you via social media. If you are a business that is struggling and need some assistance with your marketing please reach out to us directly at (812) 777-5850. We can help you create marketing campaigns that can drive traffic to your website or generate orders. We will run one social media campaign FREE OF CHARGE for you. If you need assistance in other areas of your business we will connect you to one of our partners that specializes in that area. Stay safe and healthy out there and I look forward to speaking with you in the near future!


Opportunity Zones & Funds: Aligning Public and Private Real Estate Capital

Opportunity zone funds (OZFs) can help the neighborhoods that need it most, while also providing significant tax benefits for investors.

An Opportunity Zone is a designation created by the Tax Cuts and Jobs Act of 2017 allowing for certain investments in lower income areas to have tax advantages. The purpose of this program is to put capital to work that would otherwise be locked up due to the asset holder's unwillingness to trigger a capital gains tax.

An opportunity zone fund (OZF) is an investment vehicle that provides tax benefits for private capital to help revitalize economically distressed communities. Both operating businesses and real estate are eligible for investment.

A Qualified Opportunity Zone Fund is any investment vehicle which is organized as a corporation or a partnership for the purpose of investing in qualified opportunity zone property (other than another qualified opportunity fund) that holds at least 90 percent of its assets in qualified opportunity zone property.

Many investor types may take advantage of opportunity zone funds:

  • Corporations– Also includes partnerships
  • Accredited investors– Defined as high net worth individuals, brokers, and trusts
  • Nonresident foreign investors– Only on capital gains earned in the U.S.
  • Retail investors– Through funds that have lower minimums, though options are more limited

In addition to their wide eligibility, OZFs have a number of potential benefits.


The Home Seller’s To-Do List for 2020

As the new year takes its first steps, the real estate business is closely analyzing 2019 to see what 2020 will bring. There were some pretty exciting developments last year, and they’ll definitely play a major role in the future. In fact, some trends, like those that SpendMeNot’s real estate market research noted, will be pivotal for anyone looking to sell this year.

So what will it take to turn the real estate market in your advantage as a property seller in 2020? Here’s a useful and to-the-point guide to tell you exactly that.

Prepare for Slow Growth of Home Prices

In line with the growth we’ve seen thus far, house prices should be increasing somewhat in the current year. This growth probably won’t be all that radical, measured at 2.8% by some estimations, but it will nevertheless impact the way you go about your job.

One consequence that you can look forward to is the fact that you’ll probably be making more of a profit. Though not an amazing rate, a bit shy of 3% is nothing to scoff at.

That said, you won’t be overjoyed when you hear that you probably won’t see as many offers as you could have in 2019. An increased price will unavoidably narrow down the amount of people that can afford to make an offer you’ll be satisfied with.

Overall, it’s a bit of a give-and-take situation where you need to take advantage of both the good and the bad. The best way to do that, in this case, would be to make your house stand out as much as you can. In the highly discriminating market we’re looking at right now, a property with more to offer will get a lot more attention from buyers.

Facts About Housing Data

  • 50% of buyers found their home on the internet
  • 5.34 million existing homes were sold in 2019
  • The US housing market was worth $33.3 trillion in 2018
  • Sales of existing homes will fall 1.8% from 2019
  • The cost of renting has gone up by 66%
  • 6% of younger millennials were first-time homebuyers

Cater to Today’s Main Buyers: MIllennials

Millennials (people born roughly between the 1980s and 2000s) currently represent the majority of home buyers. How large a majority? As many as 67% of all buyers come from this generation.

What does this mean for you? Well, it means that, if you want results, you will need to adjust the way you sell. Here are a few pointers to help you do that.

 

  • Highlight certain features that they’re on the lookout for. Garage storage, patio, laundry room, and hardwood front exteriors are among the popular home features for millennials, but there are plenty more, so don’t worry if your property doesn’t have those. Highlight the ones that it does have, though, and you’ll quickly see more interested parties.

  • Make sure that your online listings are high-quality. Practically everyone (especially millennials) relies on the internet to find whatever they need, and homes for sale are no exception. Therefore, anything you have about your property online should be updated and looking sharp - high-quality photos and a video recording of the place will get you a long way.

  • Emphasize qualities other than square footage. Nine times out of ten, given a choice between a large house and one that’s near good schools or has a good commute, millennials will choose the latter. As long as you make these perks a priority to emphasize, you’ll do great.

Expect Low Mortgage Interest Rates, but Don’t Count on Them

Last year, mortgage interest rates fell under 4% for common kinds of loans. For 2020, the trend will likely remain the same, and this rate shouldn’t go anywhere above 3.7%. That said, interest rates can fluctuate depending on economy shifts, so it isn’t a prophecy set in stone.

For you, a low interest rate will translate into more interest from people. It’s only logical, after all, since they will have to pay less overall in these conditions. But there’s little guarantee that the rate will stay as is, so be prepared for the opposite.

Should the interest rate rise, you’ll see plenty of prospects beginning to hesitate, so you’ll likely be in a bit of a bind if you’re pressed for time to sell that house of yours. It could theoretically swing either way, but the chances are that the rates will stick to their current estimates.


The Good, The Bad, and The Ugly About Contract Sales!

This is your opportunity to learn how a typical real estate investing in underserved communities does social good, by generating multiple revenue streams for investors. TruPodcast series host and investor Ryan DeMent candidly shares his personal experiences and current industry insight that you won't find elsewhere. Let's get right to it. Ryan DeMent here from TruVest.

Hope you're having a great day. Today's topic owner financing contracts. I have to say I'm fired up because I get anywhere between five to 10 calls a week on contracts and guess what? They're worthless. And the reason why is because they're not recorded. They don't give you any type of home ownership. If that contract that's put in writing and it's not recorded with your county assessors office and you become the actual owner of the property, you're getting no benefits. And the other piece of it is probably 90% of the contracts that are recorded or put together don't even get reported to your credit.

So that balloon came that you have 12 to 24 months down the road. Guess what? You have to go get a real mortgage from a bank that potentially is not going to actually finance you because your credit is not good. So why do you want to do a contract? Good question. I don't have an answer, but I can tell you this. If a contract is done right, it should benefit you. It should one list you as the owner. Two, it should be serviced by a mortgage entity to where you send your payments to three, it's reported to the credit bureaus. So you get positive and negative tradelines for your payment history and the fourth, you should be able to write off the mortgage interest on that property when you're making those payments annually.


Is There a Shortage?

I hope you had a productive week.

For some reason this week there was a ton of articles on the spring housing shortage. Is there truly a shortage? Or have our expectations gotten out of control? Can you spend a little more time finding a house that needs some "TLC" in a good neighborhood? On the other side of the equation, mortgage rates are going up, but rates are still respectable to where homeownership is not out of reach. I know from our perspective that some markets are tighter than others, but we are always able to find houses to purchase.

Is there a shift in mentality needed for homebuyers that are entering the market this year? I would like to hear your thoughts on the topic. Until next week, let's all be part of bringing Wall Street to YOUR Street! Have a great week and I look forward to speaking with you soon!


A Huge MileStone

I have to say I am a proud Papa Today! We have met a huge milestone! We are excited to announce the TruExchange Platform is ready for beta testers. Thank you for following and supporting our journey. We are looking for 10 active beta testers to participate in the launch of the Platform.  We have already accepted seven beta testers, and we are looking for the remaining to commence testing immediately!

Please use this link to enter the beta testing program: http://bit.ly/TruExch

What Does the Future Hold?