Real Estate in 2024

This year, 2024 is presenting unique challenges in the real estate ownership and investment landscape. Rising interest rates, tighter lending standards, process delays, government intervention, and constant market shifts feel discouraging. However, amidst these complexities, a remarkable trend is re-fueling opportunity – the rise of partnerships, joint ventures, and innovative financing solutions, along with the growing acceptance of remote work and the location-independent lifestyle. These shifts are especially empowering for women, whose natural inclination towards collaboration and relationship-building can unlock new possibilities to build wealth, create community and leave a legacy. Men have been building empires together through business ventures for millennia, and now that women have more freedom it's easier to participate! In reality, there should be nothing stopping any of us from taking responsibility and designing our own futures.

The Power of Collaboration

In a challenging market, pooling resources becomes essential. Partnerships and joint ventures allow for:

• Risk Mitigation: Distribute risk across multiple parties to increase the chances of success for everyone involved. Share the risks and the rewards! Then share the R&R - rest and relaxation:)
• Increased Buying Power: Team up to access larger, more desirable properties than you could afford on your own. Buy an apartment building, a 4plex or a small hotel! Don't laugh, we're doing exactly that!
• Skillset Expansion: Collaborate with others whose expertise complements your own, widening your scope of potential projects. Tap into coaches, mentors and peers who have achieved remarkable feats simply by adding more brainpower to the challenge. Remember the key word, collaboration! Stop trying to do things ALONE!
• Global Outlook: Women, as natural networkers, can forge valuable connections across borders, leading to diversified investments and unique opportunities. Women are also travelling more, living longer and need wealth and community for retirement. We need to be prepared to leave our expensive neighbourhoods in favour of cheaper and more cheerful lifestyles. And to the men, well you just need to get healthier and start living longer!!!

Creative Financing: Overcoming Traditional Barriers

When traditional lending gets tighter, creative financing methods open new doors. If you walk out of the bank feeling discouraged, that's the time to join a network of investors who know where to go when the bank says NO.

• Seller Financing: Sellers can act as the lender, potentially offering better terms than banks. There can be tax advantages to sellers to offer this. It happens more often than you think! Talk to the professionals though, and get your paperwork looking more than pretty!
• Lease-to-own Arrangements:Build equity while renting, making homeownership attainable over time. A win-win for investors and tenant buyers.
• Syndication/Crowdfunding:Combine smaller investments from many individuals to fund larger deals. Due diligence required!!!!

Remote Work: Your Ticket to New Markets

The freedom to work remotely breaks down geographical barriers, allowing you to explore less expensive markets for your dream home or investments. Personally, I'm looking at Mexico, a boutique beachfront hotel for location-independent folks to mix and mingle with travellers and retirees (to be exact). A hybrid, cohousing, cash-flowing retirement plan!

• Affordable Domestic Options: Investigate smaller towns or less costly regions within your own country. Take a look at what happened when Torontonians didn't have to go to the office during Covid. They cashed in from a very expensive market, took their investment dollars and bought houses on the east coast of Canada and vacation homes in Florida! Halifax still doesn't know what hit them!
• International Exploration: Consider vibrant, affordable international communities where your income stretches further, offering potential for higher returns. Mexico, Portugal, Italy, Thailand and more! Why stop at just one? There are global associations that set up the sharing of multiple properties between families and friends. Find one that fits your goals and lifestyle!
• Build a Global Support Network: Tap into communities of location-independent investors or homeowners for insights and guidance. Many of us now run our business from our laptops while lounging by the pool in Puerto Vallarta or beachside in Bali! As I write this article I'm sitting in a cute little cafe in Bucerious, Mexico!

Collaboration Empowers Women, Especially in Challenging Times

The 2024 market demands adaptability and out-of-the-box thinking. Women are uniquely positioned to leverage collaborative models for several reasons:

• Natural Relationship Builders:Women excel in fostering relationships and community, essential for finding partners, negotiating deals, and building trust.
• Breaking Barriers: Collaboration opens doors historically closed to women in the male-dominated real estate industry. Ladies, we need to get in the game, especially now that we're allowed:)
• Shared Success: Supporting and empowering other women builds success for all. We are lifting each other up more willingly now and that is a trend to tap into!

The Future is Collaborative and Limitless

Recently I listened to a podcast featuring Daniel Priestley. What I found particularly interesting is the reminder that we are living in a time of incredible opportunity. We get stuck on the housing affordability issue, the boomers made out like bandits with the best time in history to buy and build wealth from a home. However, we must see that the world is now truly our oyster. We can build businesses online, have clients from around the world, live practically anywhere and keep our overhead costs at almost zero. The only thing we should be complaining about is what country to focus on first!

If you are feeling priced out of the traditional market, take heart! Collaboration, creative financing, and the flexibility of remote work are changing the rules of real estate, business and lifestyle. This is your chance to:

• Achieve Homeownership: Collaborate to buy that perfect property in a place where affordability meets your lifestyle goals. Buy a building with friends or build your family village together.
• Invest Strategically: Build wealth through smart investments in domestic or international markets, leveraging the knowledge of your partners, and experts from around the world.
• Create Global Connections: Explore exciting investment opportunities while building a supportive network of people across borders. Connect, communicate and show up. Life-long friendships could be just around the corner.

Call to Action

If you are ready to explore the potential of these trends in your real estate journey, share your aspirations and experiences in the comments below! Join a powerful network, and learn how to unlock homeownership and investment opportunities through collaboration, creativity, and the power of remote work.

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