When it comes to the real estate and mortgage lending industry, most of us are invested in some way. Whether we rent or own a home or apartment, are real estate investors, or have a mortgage, most of us have to navigate these areas at some point in our lives. But real estate and mortgage lending can be complex topics, with lots of nuances and dense details. Jacques Poujade is a managing partner at LendPlus and has been entrenched in these industries for decades. He sat down for an exclusive interview, to share some of his industry secrets, and key tips.
Jacques, what are some things everyone should know about the real estate industry?
Firstly, you want to understand the basics of not only real estate, but also of the housing market, which is obviously always in flux, and is reliant on supply in demand. You don’t want to rely only on experts and real estate advisors to handle everything for you. You should understand the fundamentals of how properties and the market works. Especially if you want to get into investing. Many people think real estate investing is way over their head, when in fact, it’s much more accessible than you might think.
How can someone get started in real estate investing for the first time?
There are different ways to invest in real estate, and some involve more capital than others. For example, you can buy properties outright, and rent them out, or you can flip houses, where you buy up properties which need some work. But there’s also the option of wholesaling, which involves a lot less cash up front. You simply act as the middleman, finding a buyer for a house on the market, and you upsell them, earning the difference as a profit. The point is, there’s lots of ways to enter the real estate investing business. And if you’re looking to buy a rental property, I recently spoke about some things you should know first.
While mortgages are always in flux, those looking to take out a mortgage are currently at an advantage, as rates have been quite low this year, for several reasons. What this means is that the market is opportune for homeowners looking to buy their dream home. It also means that the market is quite good for sellers, since there is increased interest in the supply.
What are some of the struggles you see homeowners facing?
I sometimes see difficulty staying on top of mortgages, and I think this happens most when people aren’t properly prepared for all of the expenses that come with property ownership. I recently spoke more about this topic in another interview. But when this happens, there are definitely ways to persevere, and get back on track.
Why have you dedicated your career to this industry?
I’ve made it my mission to help people find and finance the home they’re always wanted. I see real estate as an opportunity, and I also see that many people are overwhelmed by the industry. That’s why I’m there, having their backs. I think that everyone deserves to have financial services as well as the proper advice which gives them the necessary support to make that happen. If you’re looking for the latest news about real estate, housing and mortgages, you can head over to my blog where I regularly post about the latest trends. You can also check out my previous LuxeDB.com interview where I talked about the current state of the real estate industry.