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5 at 5: Your Daily Digest for Real Estate Investing, 6/21/21

Millionacres logo Millionacres 6/21/2021 Marc Rapport
a close up of a clock: 5 at 5: Your Daily Digest for Real Estate Investing, 6/21/21 © Provided by The Motley Fool 5 at 5: Your Daily Digest for Real Estate Investing, 6/21/21

'House from Hell' finds a buyer, the SFH market and institutional investors, a Big Sur sale sets per-key record, net absorption and the office turnaround, a look at two retail REITs.

In Today's News

'House From Hell' Sells a Week After Being Listed

The listing reportedly described it as "a little slice of hell." Photos of the Colorado house show significant damage, including spray-painted vulgarities on almost every surface. And it sold fast, Fox Business News reports.

The Millionacres takeaway: Honesty is the best policy here. The house was obviously battered, so the agent made the smart move and the most of the opportunity. And in this hot market, it worked.

Investment Firms Aren't Buying All The Houses, Just the Most Important Ones

This Slate piece describes how institutional investors are using their deep pockets and technology to deplete the inventory of the precise houses that might otherwise be obtainable for younger working- and middle-class households, in the cities where those workers can most easily find good-paying jobs.

The Millionacres takeaway: The data is there for individual investors to take the same targeted approach for finding the right places and prices for buying rental or flip properties, whether it be in the markets where the big money is landing the most or in outliers that might present easier opportunities if well chosen.

Ventana Big Sur Sale Is a Record $2.5 Million Per Key

ConnectCRE reports that the John Pritzker family office and a partner have sold the Ventana Big Sur to a Hyatt Hotels affiliate for $148 million. The transaction sets a record $2.5 million per-key price for a North American resort.

The Millionacres takeaway: While this is an exclusive resort sale taking place between elite investors, the lesson here is that if such smart money is willing to spend record bucks on the right property in the hospitality business as the pandemic subsides, this might be a good time for small investors to do the same in their neck of the woods.

Today on Millionacres

When Office Real Estate Investors Can Expect a Turnaround

The pandemic recovery in the office sector is underway and projected to reach positive net absorption in the fourth quarter of this year, according to research from NAIOP, the Commercial Real Estate Development Association.

The Millionacres takeaway: Net absorption is one of those measuring sticks useful from a macro level on whether the economy says it's a good time to buy, sell, or wait. Reports like this can help you make better decisions on the micro level that is your own personal economy.

Better Buy: Kimco Realty vs. Kite Realty Group Trust

There are some real estate investment trusts (REITs) that simply dominate the sector in which they operate. Kimco Realty (NYSE: KIM) is on its way to being that company in the open-air shopping center space. However, that doesn't mean investors should run out and buy the stock.

The Millionacres takeaway: Our Reuben Gregg Brewer notes that up-and-coming names, like much-smaller Kite Realty (NYSE: KRG), have material appeal as well and compares two players from opposite ends of the size spectrum before sharing his conclusion.

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