More than half of residential investors (52%) have lost
$100,000 or more on a single real
estate investment.
ST.
LOUIS, July 23, 2024 /PRNewswire/ -- Nearly all
residential real estate investors (90%) have lost money on an
investment, with nearly half (42%) reporting losing more money than
they've made in real estate investing, according to new
research from Clever Real Estate, a St. Louis-based real estate company.
Further, nearly half of investors (42%) have lost $200,000 or more on a single investment.
Alarmingly, 45% admit a bad investment has almost ruined them
financially, and 40% wish they never started investing in
residential real estate in the first place.
A whopping 87% of residential rental investors have regrets
about their investments. Common issues include dealing with bad
tenants (51%) and severe property damage caused by tenants
(52%).
About 4 out of 10 rental owners deal with maintenance issues
(41%) or repairs (40%) at least once a week, and nearly two-thirds
(63%) deal with complaints from neighbors about tenants at least
once a month.
Additionally, 56% of respondents have had to evict a tenant at
some point, and about 61% say they have to track down missed rent
payments every month.
However, three-quarters (75%) say they are making at least as
much as they did in 2023, with 41% earning more and only 14%
earning less. Even more, 44% of investors wouldn't be able to live
comfortably without their real estate income.
80% of residential real estate investors invest in more than one
type of residential real estate investment, including traditional
long-term rentals (51%), buying land for future development (45%),
house-flipping (42%), and short-term or vacation rentals (40%).
Interestingly, about two-thirds of investors would consider
properties with squatters (67%), foundation issues (65%), or at
high risk of a natural disaster such as a flood, wildfire, or
hurricane (62%).
The most pressing concerns for real estate investors are high
interest rates (44%), high home prices (41%), and inflation
(40%).
Read the full report at:
http://www.listwithclever.com/research/residential-real-estate-investing-2024/
About Clever Real Estate
Clever Real Estate is a
technology company that produces educational real estate content
reaching over 10 million readers annually, and its nationwide agent
matching service has a 5.0-star Trustpilot rating across 2,300+
customer reviews. Since launching in 2017, Clever has reached
$8.5 billion in real estate sold,
matched 100,000+ customers with realtors, and saved consumers over
$160 million on commission fees.
Clever's network spans 19,000 agents across all 50 states.
Please contact Alyssa Evans at
380708@email4pr.com with any questions or to arrange an
interview.
CONTACT:
Alyssa Evans
Clever Real Estate
380708@email4pr.com
315-690-1518
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SOURCE Clever Real Estate