House-flipping moves to make, hotel bets that are safer than others, Rent the Runway’s IPO and real estate, warehouse space really is that tight, the return to the office returns.
Today on Millionacres
The first thing to know about house flipping in today’s market is that housing supply is the lowest it’s ever been, meaning competition is stiff and prices are high. Even Zillow‘s iBuyer section, Zillow Offers, recently announced it was done buying homes to flip, for the time being anyway.
The Millionacres takeaway: Our Laura Agadoni explains how to find what deals there are still out there, and what to do when you identify one.
With COVID-19 cases continuing to surge and business travel largely off the table for the foreseeable future, putting money into hotels may seem dangerous. But there’s one specific type of hotel that real estate investors should be less afraid to bank on.
The Millionacres takeaway: Our Maurie Backman lays out why all-inclusive hotels, whose business is not based on business travel anyway, may be the best bet right now in the hospitality sector. And she names a few prospects to look at.
Rent the Runway is meeting a lot of women where they are in life right now, our Nell McPherson writes. And the idea is that by allowing them to rent rather than simply buy designer clothes, the company will be able to continue doing so indefinitely.
The Millionacres takeaway: Nell says the fact that the company is doing well enough to go public is fantastic news for real estate investors. It means people are going to parties, weddings, offices, the theater, nice restaurants and bars — all places where they want to look their best.
Also in Today’s News
Warehouse availability in the U.S. fell to record lows in the third quarter, according to figures from real-estate firms that show industrial space is all but disappearing near some of the country’s busiest distribution hubs, The Wall Street Journal reports today [subscription required].
The Millionacres takeaway: Real estate investors interested in profiting from this phenomenon can begin with the companies that are doing the same. One good example would be Prologis (NYSE: PLD), the largest of industrial real estate investment trusts (REITs) which the WSJ piece points out has recently said its space is basically sold out.
This Forbes piece reports that office building occupancy began to rise again in late September and early October after that segment’s recovery was beaten back by the coronavirus surge this summer.
The Millionacres takeaway: Lots of context and background in the reporting here can help make the case that better times could be ahead soon for office landlords and the surrounding retail businesses their tenants support.
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