Your debt-to-income ratio—the total of all your monthly expenses divided by your gross monthly income—is one of several factors that impact your mortgage rate, our experts say. Your debt-to-income ratio (DTI) determines the loans you can get and a higher DTI generally means you won’t get access to loans with lower mortgage rates.
“The better programs have thresholds with lower debt-to-income ratios. And better programs translate into better rates,” says Kevin Leibowitz, a mortgage broker at Grayton Mortgage.
Impact of DTI on buying choices
In New York City, co-op boards have their own DTI requirements for buyers, usually 22 to 24 percent. “Co-ops are usually stricter than banks when looking at DTI,” says Deanna Kory, a leading agent at Corcoran.
Of course lenders are also assessing your financial viability. “Every bank has guidelines with regard to the maximum debt-to-income they allow in order to approve a loan,” says Melissa Cohn, regional vice president at William Raveis Mortgage.
When you’re shopping for a mortgage, a loan officer or mortgage broker will offer you a rate based on your borrowing profile. This includes your credit score, your down payment, whether you’re buying a condo, second home, or investment property, and whether the mortgage is a cash-out refinance. “All these factors are layered on top of each other and it becomes a decision-tree matrix,” Leibowitz says.
Many lenders will allow for DTI ratios up to 50 percent but the terms available for the loans with a higher DTI are typically worse than those with lower DTI ratios. “Many adjustable and most jumbo lenders cap the maximum DTI at 43 percent in order to qualify,” Cohn says. If you are financing more than 80 percent and applying for private mortgage insurance (PMI), Cohn says the cost of the PMI increases with a higher DTI.
Put another way—if you have a small down payment, a low credit score, and a high DTI, Leibowitz says, “either the programs are going to disappear or the programs that are available come with worse terms.”
For example, let’s say a condo buyer has a low credit score and a high DTI and they are putting 50 percent down on a $500,000 apartment. That’s not necessarily a bad loan for a lender, Leibowitz says. A buyer is unlikely to default on $250,000 of equity or cash they’ve just put down.
However a higher DTI might rule out access to a loan with a better rate, Leibowitz says.
How to improve your DTI
One of the best ways to improve your DTI ratio is to limit or pay down any consumer-related debt. This might mean paying off your credit card debt, delaying a big purchase, holding off on a leasing arrangement for a new car, or setting up a loan repayment program for any student debt.
In some rental markets, apartment hunting can be as competitive as a job search. In fact, modern, savvy apartment seekers often visit apartments as prepared as if they’re on a job interview. If your apartment search lies in a highly-competitive rental market, like New York City, you may want to employ a few clever approaches to help secure your tenancy. Here are some tactics to help you nab your first choice apartment and seal the deal on the spot!
Dress for the apartment you want
Remember the old saying “dress for the job you want?” It applies to your apartment search, as well.
If your first-choice apartment is in a swanky high-rise building, then ditch the Saturday sweats and dress up for an in-person visit. A variation of the same rule applies if you are hoping for a hip pad in an up-and-coming neighborhood. Skinny jeans, a flannel shirt, and nerd-chic glasses might help your future landlord visualize you living there. Within reason, do what it takes to look like you are the perfect fit for the new space!
Over-prepare
Most folks who land great jobs do their homework, carefully studying the company they are interviewing with. Borrow this best practice to convince a property manager that you’re the right person.
Come prepared with knowledge about the community. Use search engines like Apartment Guide as a resource to study the amenities and features the community offers, then let the leasing agent know how much you value those options. You can also use sites like Yelp to learn more about the neighborhood and rave about how much you love restaurant X and coffee shop Y. Community managers may well appreciate your knowledge – and compliments!
You can also borrow this job search tip: bring a cover letter to introduce yourself. This will get a property manager’s attention and help them remember you after your initial tour.
Think like a networker
Once you’ve made a positive first impression, you might dig a little deeper to make a personal connection with the landlord. If the decision comes down to two renters with similarly positive credentials, the landlord might choose the one he feels most comfortable relating with.
Think like a networker. As in business networking, you should ask questions and then really listen. Keep your ears open for commonalities with the community manager. You might be from the same hometown, have attended the same college, or share the same favorite restaurants. Develop a rapport with the property manager by paying attention to and highlighting these details.
Follow up with a friendly thank-you
Best behaviors for job hunting – and apartment hunting – include a proper “thank you.” Once you’ve nailed the interview, send a note to thank a landlord or apartment community manager for their time, perhaps mentioning specific things you like about the apartment. Be sincere, and let them know it’s your first choice.
Because time is of the essence in apartment searches, email might be your best form of communication, though it never hurts to drop a handwritten note in the mail. (Even if the note arrives after you’ve signed the lease, your community manager will be glad she chose you!)
Remember your rental reputation
Of course, all of these strategies rely on the basis that you are prepared to be an excellent resident. Keep in mind you must also meet any legal apartment community requirements, including perhaps passing a credit check, to be the best candidate for an apartment that is in demand. You may be asked for referrals from former landlords, as well.
If you’re confident, prepared and sincere, however, you’ll likely have a much better shot at nabbing your favorite apartment on the first try!
Photo credits: Shutterstock / auremar, Robert Kneschke
Office real estate investments trusts are trading at their lowest level since 2009 as the trend toward remote work leaves desks empty and economic pressures tighten corporate budgets.
The S&P Composite 1500 Office REITs index is down 27% in 2023, plunging to its worst reading since July 22, 2009. Office landlords comprise just 6% of the REIT sector, which explains why the broader S&P Composite Equity REITs index is down just 5.2% year-to-date and the S&P 500 Real Estate sector has dropped 4.5%. Offices are what’s weighing on the group.
“There’s two ways to lose money: You can own a boat, or you can own an office building,” Piper Sandler analyst Alexander Goldfarb said. “At least with the boat you can take your friends out on a sunset cruise.”
While the stress on the office sector may not be new, the shift to working from home has exacerbated the problem. However, much of the damage could already be priced into the stocks after this latest selloff, analysts said.
In addition, fears about commercial real estate have added to the woes of regional bank stocks that typically fund local projects like strip malls and small office buildings. The sector has been pressured since the collapse of Silicon Valley Bank in March sparked industrywide turmoil. Now some investors fear that its exposure to office weakness could be the next shoe to drop.
However, those worries may be overblown.
“There’s probably going to be some heartburn in the bank space and probably some charge-offs,” said Ben Gerlinger, an analyst at Hovde Group. “But I think a lot of smaller and community regional banks are well-positioned.”
Quality Counts
What’s more, the outlook for office landlords could improve as companies encourage workers to return to their desks and restrict remote work policies.
“We’re starting to see some of that reversal,” RBC Capital Markets analyst Michael Carroll said. “You’re seeing the first steps of people starting to reutilize their office spaces when they weren’t just a few years ago.”
The age and quality of each building will be a key differentiator in which offices succeed over the long term and which don’t. Newer office buildings with modern amenities will likely benefit the most as companies seek out spaces that will entice workers back into the office.
And of course, the financial makeup of each office landlord is key. Industrial and senior housing landlords could prove to be potential bright spots due to their healthy fundamentals and strong cash flow generation, according to Carroll.
Similarly, Piper Sandler’s Goldfarb recently upgraded Douglas Emmett Inc. to overweight because of its small tenant focus and lower cost of leasing. On the opposite end of the spectrum, he slapped an underweight rating on New York-based Vornado Realty Trust due to its struggling balance sheet and development exposure around Manhattan’s Penn Station expansion project.
So identifying winners and losers among office REITs remains a stock-picker’s game. But in the end, the damage may not turn out to be as bad as investors’ angst.
“There are a lot headwinds out there,” Goldfarb said. “But when you really look into it, the fear is much bigger than reality.”
I started the Best Interest on December 16, 2018. It’s been two years! And this also marks two years since I’ve been tracking every single expense in my budget. E-v-e-r-y-t-h-i-n-g. Today’s post will be a year-in-review for both the blog and for my personal finances. There will be lots of fun numbers. And I’ll show you how my preaching works in practice.
To get your bearings, here’s the Year 1 Review.
Thank you!
Thank you. Yes, you. Thank you for reading, and thank you to my generous patrons.
I don’t write here because of financial gain (see the Sankey diagram in the Budgeting section). I write here because you’re reading. And because it’s incredibly fun and you readers make it rewarding.
I was recently asked about my mission statement. It’s just in draft, but:
I value helping and teaching. At my core, I want to help people improve their lives by teaching them valuable skills & knowledge. I think personal finance is a tangible, vital, and universal skill set.
Improving personal finance == improving lives.
Sharing with you is my mission. And you sharing your attention with me is a privilege that I don’t take for granted.
Every small compliment you’ve given me is extremely meaningful. I love answering your questions, your Tweets, and your Reddit comments. So again, thank you for being here.
Some Stats
Who doesn’t like statistics? Here’s what 2020 looked like on the Best Interest.
Back in 2019, about 19,000 people visited the blog. I was ecstatic.
In 2020, over 160,000 readers visited. I’m over the moon. In 2021, I’d like to hit 500,000.
As of this publication, about 210,000 words over 82 articles have been published in 2020. About 70% of those are my own, and the other 30% I can attribute to the wonderful bloggers I work with at the Money Mix.
The Money Mix is a group of like-minded writers, bloggers, and internet nerds. We share lessons learned, tips & tricks, and even share one another’s best written work. I’ve learned a ton since joining in April and attribute much of the Best Interest’s growth to learning from TMM.
The blog’s subscriber base grew by about 400% this year. If you haven’t joined, I send out a quick newsletter every week and include all new Best Interest articles.
Never miss another Best Interest post—subscribe here.
And lastly, the blog cost ~$2800 to operate and improve (notice the sweet logo?!), plus the hundreds of hours of writing and site maintenance. The mission makes it worthwhile. But if you’d like to support the cause, please join the patronage. I truly appreciate it. The more this site pays for itself, the more time I can devote to the mission.
Budgeting
Another year, another streak of tracking every single dollar using YNAB. If you’re looking for a smart Christmas present, YNAB is a great idea.
Note: you and I both get a free month of YNAB if you end up signing yourself (or someone else) up with the link above. No extra cost to anyone involved. You get a 34-day trial, and then an additional free month. That’s two months to figure out if you like it!
Below, you can see a snapshot of my YNAB journey from November 2018 until now. During this 2+ year period, I’ve used YNAB to budget and track every dollar that I earn and spend.
Is it overkill? Yes, tracking every dollar is overkill for most people. But I highly recommend that you run a budget, and I even interviewed some other experts for alternative budgeting ideas. Find the right budget for you.
Where the Money Goes
As for where my money actually goes, the Sankey diagram below is a terrific visualization.
I’ve normalized this diagram against 100% of my salary. Why? Because it helps visualize what percentage of my income goes where.
For example, 23.4% of my income went to taxes before I ever saw it. Only 59.42% of my income ever came to my bank account via paychecks and, therefore, was budgeted. Of that 59.4%, I spent about half and saved/invested the other half.
The bottom of the Sankey diagram shows how previous years’ investments grew, and shows the free money that comes from my employer’s 401(k) matching. If the stock market had gone down, the “Investment Interest” section could have been negative.
But as it sits, 2020 stock market returns added the equivalent of 25.44% of my salary to my portfolio. And my employer’s 401(k) match was equivalent to 6% of my salary (that’s free money, by the way). The Investments section below has more detail on those individual investments.
Between budgeted savings (Roth IRA, taxable brokerage account, emergency fund) and pre-tax savings (401k, HSA), about 45% of my salary went towards savings and investments. Add in the “extra” savings (investment returns, 401k match), and the equivalent of 76% of my salary went towards savings and investments.
Your results may vary. But this is how my preaching looks in practice.
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Investing
After plenty of questioning, I wrote an article in October that provided every detail of how I invest.
One of the nice things—for both you and I—is that it’s fairly easy to track my portfolio over time. There are four assets:
Large U.S. stock index fund (ex: Fidelity’s S&P 500 index fund, FXIAX)
Mid and small U.S. stock index fund (ex: Fidelity’s Russell 2000 index fund, FSSNX)
Bond index fund (ex: Fidelity’s Total Bond Fund, FTBFX)
International stocks fund (ex: Fidelity’s Total International Stock Fund, FTIHX)
As of 12/16/20, these assets have performed as follows in 2020:
S&P 500 Index = +13.3%
Russell 2000 Index = +17.6%
Bond Index = +3.6%
International Stock Index = +6.2%
For the 2019 year, these indices’ performances were:
S&P 500 Index = +28.9%
Russell 2000 Index = +23.72%
Bond Index = +9.9%
International Stock Index = +21.5%
What are the takeaways? 2019 performance was blistering, and 2020 performance feels oddly optimistic given current events. I don’t expect every year to be as “good” as the past two.
Nevertheless, I’m trying to leave my emotion at the door and stick with my plan. Specifically, I invest the same dollar amount every month, whether the market is up or down. If you want to learn why I’m confident in that plan (despite current events), I wrote all about it this past autumn:
Even if the markets are at all-time highs and it feels like a crash is coming, my outlook is long-term. I have faith the the long-term (10, 20, 30+ years) economic outlook is good.
Favorite Blogs Posts
I’m proud that my writing is highly regarded. I was featured this year on MSN, Grow/CNBC, the Ladders, the Good Men Project, SoFi, Budgets are $exy, the Plutus Awards Showcase, and elsewhere. Woohoo!
If you think my writing is worthy of someone else’s attention, I’d love for you to share it with them. Post a link on Facebook, Reddit, Twitter, etc. Send your Uncle Dave the article I wrote about him. If you found a post particularly useful, let your tribe know about it. Simple grassroots sharing.
Here are some of the best posts from 2020:
January—The 2010’s Will Happen Again—If you’re worried that the 2010’s were a “once in a lifetime” investing decade, this article will show you how that’s not quite true.
February—Index Fund Bubble: Arguments For and Against—I invest solely in index funds. So when well-known investors warned of a bubble, I wanted to understand for myself.
March—Viral Stock Market Strategies—Lots of Twitter experts discussed their personal investing techniques during the early days of COVID-19. So I wrote a MATLAB script to back-test all their best laid plans. Spoiler—the simplest approaches always fare best.
April—The Biggest Lesson from COVID-19—Slack. Safety net. Margin. Out of the many lessons from COVID-19, this article discusses the biggest one: how building slack in our systems—personal finance, business, hospitals, even hiking—is a life-and-death issue.
May—Jeff Bezos and the Meritocracy Kings—Jeff Bezos, resource allocation, Vonnegut, meritocracy, survivorship bias, systemic flaws, and quarantine kings.
June—Simple Financial Goals—a two-minute punch-list to start you down the path to better personal finances.
July—Do you know Dave?—a funny story about a man you know, and the perilous personal finance circumstances he finds himself in.
August—Long Term Investing Takes Faith—I returned from a camping trip rejuvenated. But memories of the rolling waves reminded me of slow, steady, long-term investing.
September—Amazing People Everywhere—inspired by Tim Ferriss’s Tools of Titans, I interviewed some amazing people in my own life, and asked them what lessons they’ve learned in their unique journeys.
October—The True Cost of Car Ownership—a detailed analysis of car costs, answering the important questions like:
How should I compare time owned vs. miles driven?
What’s the full-life true cost of owning a car?
How much does a car’s value depreciate over time?
How do I place value on the utility of my car (e.g. a work truck vs. a compact sedan)?
When is a used car purchase smarter than a new car?
How does leasing compare to owning?
Should I sink more money into an old beater? Or just get a new car?
November—Your Retirement Savings Goal for 2021—my first dabble into coding my own calculators. If you’re looking for an easy 2021 resolution, start by calculating your 2021 savings goal.
December—Curses, Miracles, and the Best Interest Student Loan Solution—The status quo is a haunting curse. The proposed solution is a divine miracle. I propose a middle-ground solution. And the math backs me up.
2020: Year of the Dog
We fostered nine sweet dogs in 2020. No dog goals for 2021, other than to keep fostering. There are lots of great dogs that just need a home. If you’re looking for a dog, consider adopting through a shelter or foster organization.
But because it’s fun and funny, here are the 2020 dog power rankings.
Starting at #9: Josie. She was one of Sadie’s puppies. And man, was she mean. Clearly, Josie learned that the meanest puppy always gets fed, and she would absolutely torment poor Oscar. If you’ve ever seen Tasmanian devils fighting on the National Geographic channel, that’s how Josie was at feeding time. Bad girl! But she’s a sweetheart now as a young adult 🙂
Next at #8, Ranger. While Ranger was a good boy, he chewed on too many things. Most dogs are athletes. Not Ranger. He was a happy, dopey, skittish, and unathletic dog.
Louis a.k.a. Mr. Bones a.k.a. Louie Long Legs comes in at #7. Not the cutest pup, and one of the only dogs that legitimately drew blood from his playful bites and claws. But he was just a pup, so you can’t hold it against him!
Jules is our current foster, and she comes in at #6. She’s a little whiny and took a poop behind the Christmas tree. Is she super cute? Sure. But a cute face only gets you so far on the Best Interest.
#5 is Raven, a solid puppy. The most athletic of Sadie’s puppies, there was nothing to dislike about Raven. If she has stayed around longer, she could have competed for the top 3. But she got adopted quickly and didn’t have much time to rise to the top of the heap.
Esther—coming in at #4—was one of two recent moms to come through our home. And poor Esther definitely missed her puppies, making multiple escape attempts over our fence. She was a sweetie. Not much is cuter than hearing a 25-pound part-Huskie give out a “big” wolf howl.
Sadie’s third-and-final puppy, Oscar, comes in at #3. This little guy was everyone’s favorite of Sadie’s three puppies. While we figured, “Ahh. Dad must have been a Blue Heeler,” we actually found out that Sadie is 55% Blue Heeler. Her recessive traits are expressed in her more slender physique and black color. Oscar’s phenotype, however, is very much the stocky, mottled grey Blue Heeler.
Scooby, the cutest bloodhound puppy around, is #2. Not only did Scooby have stellar looks, but he had the personality to match. He was playful, mostly potty-trained, and slept through the night from Day 1. He was wise beyond his weeks. The “Doobie Brother” was a very good boy.
Coming in at numero uno, it’s got to be Sadie. I’m a big softie for Sadie. She was our first foster and probably the only one who arrived at our door significantly unhealthy. She had been homeless in Houston, scrounging for nutrition to support herself and her three puppies (Josie, Raven, and Oscar). Sadie was only 27 pounds when she showed up. But we nourished her, fell for her, and adopted her ourselves! She’s now a sturdy 42 pounds and has been a great friend to all the other fosters to come through our house. She’s also kinda famous in the blogging world.
2021 and Beyond
In 2021, I’d love to help half-a-million (or more!) readers.
Monetization of the blog is something I’ve considered before. Right now, a few generous Patrons donate to the blog, and I don’t run ads (here’s why). But if the income from running ads allowed me to further the blog’s mission without interfering with that mission…would that be worthwhile? I’m interested in what you think about that idea. Do ads bother you?
Content-wise, I’m always looking for useful questions to answer. My own confusion inspired my Explaining the “Big Short” post. The many new parents in my life inspired this guide to 529 plans. If you want to learn something, let me know.
I’m excited for 2021! And I hope you are too.
Thank you for reading! If you enjoyed this article, join 6000+ subscribers who read my 2-minute weekly email, where I send you links to the smartest financial content I find online every week.
-Jesse
Want to learn more about The Best Interest’s back story? Read here.
If you prefer to listen, check out The Best Interest Podcast.
The most popular person in Los Feliz is Joan, the owner of a soon-to–be-vacant prewar apartment on Avocado Street. On a gloomy afternoon, Joan stands at the apartment’s doorstep, surrounded by five prospective tenants. We wait, hushed and breathless, as Joan takes the key from her purse.
“You’re the lucky ones who get to see it early,” she says.
Yes, we are the chosen, desperate few. Among nearly 50 interested callers in the three days the unit has been listed, we are the ones who called Joan multiple times. We left beseeching voicemails. We begged to submit applications without even seeing the apartment. We promised to be perfect tenants. We’ve witnessed its grandeur on Zillow — a $3,800 two-bedroom that’s a 15-minute walk from Griffith Park — and we know this one won’t last.
As Joan fits the key into the lock, I glance at the other prospective tenants, all of whom appear to be nice, respectable people. This is extremely unfortunate as they are now pitted against me in one of L.A.’s most cutthroat endeavors: finding an apartment.
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As Joan ushers us inside, I ask a woman in a pea coat how her housing search is going.
“Brutal,” she says. “I just lost a place to someone who paid an entire year’s rent up front.”
Inside, the apartment is gorgeous. We are collectively awed.
“Is this place staged?” a man with an Australian accent asks more than once, admiring the current tenant’s furniture. A short woman in a ball cap kneels on the floor, takes out a tape measure and begins aggressively assessing different walls. It is a power move. A laminated application is tucked beneath her arm. “My landlord is the new attorney general and she’s happy to provide a reference,” the ball cap woman tells Joan, loud enough for everyone to hear.
I catch the eyes of a blond woman in a trench coat. An understanding passes between us. We are no match for the ball cap woman. We did not laminate our applications. In fact, I didn’t even bring an application because I don’t own a printer. As the other tenants hand in their applications, Joan casts a hard, appraising glance my way. “I’m gonna email it,” I mumble. I immediately feel like a naughty child who hasn’t handed in her homework — the exact opposite of the sort of person who will get the place on Avocado Street.
In the backyard, an orange tree hangs heavy with overripe fruit. “Imagine, fresh orange juice for breakfast every day,” someone says. We sit silent for a moment, envisioning the future that will someday belong to only one of us: sitting at the cozy dining nook, sipping juice made from freshly picked oranges before heading out for a stroll to Griffith Park.
“It’s just nice to know this place exists,” the blond says, sadly.
In my hunt for an apartment, I saw more than 30 places: dumps and palaces and everything in between. Despite news of an L.A. exodus, the housing market shows no sign of cooling. At nearly every open house, I was pitted against New Yorkers who, like me, had decamped from Brooklyn in search of sunlight and a place to park their cars.
I found and lost my dream home twice. Aside from Joan, I met many landlords and found that, generally speaking, they are strange people.
Some, like a soft-spoken older woman leasing an $1,800 one-bedroom apartment at the foot of the Hollywood Hills, are delusional. The unit, which was advertised using Zillow’s two most-favored descriptors — “charming” and “sun-drenched” — turned out to be neither. It faced a hideous building that choked out even the smallest possibility of afternoon sun-drenching. When the landlord asked if I was interested in renting it, I said no, sorry. I was hoping for a place with more light. A place with a view.
“But this place has a view,” she insisted. “The building across is so lovely.”
Many landlords I met, like the owner of a $3,900 Spanish two-bedroom in Echo Park, have a frazzled, frantic demeanor. The Echo Park landlord hoped to sell the property or rent it, whichever happened first, he told me. He’d originally bought the place to market it as an Airbnb, but the city tightened its restrictions and he was forced to rent it out long-term. This was a relief in some ways, he said, because he’d found that managing an Airbnb was a nightmare.
“People are monsters,” he said. He once hosted guests who infested the unit with bedbugs. Another group stole all the lightbulbs. Worst of all was the man who defecated on the floor and said the cleaning fee should cover the cost of its removal.
“Are you sure it wasn’t a dog?” I asked.
“It was definitely human,” he said.
I asked where he found the feces. He pointed to the middle of the living room floor, the very place I’d envisioned my coffee table.
A more discreet landlord would have concealed this sordid history. Still, it’s sometimes difficult not to consider the sad circumstances that lead a property to be listed on the market in the first place.
This is especially true when you look at lease takeovers for one- or two-bedroom apartments. These leases, in my experience, often are broken due to heartbreak: Two people who once loved each other now hate each other and can no longer live together. One man I met who had advertised a lease takeover on Zillow greeted me in the driveway of a pretty, $4,000 Silver Lake two-bedroom condo. He looked as though he’d just been crying. He showed me inside, and when I told him the place was nice, he let out a low, resentful bleat of laughter.
“Yeah, isn’t it great?” he said. “I thought my partner and I would live here for years. But life is unpredictable, isn’t it?” And then he gazed ruefully out the window.
Walking through the condo, I wondered in which room he and his partner had argued most. Had they screamed at each other in the 250-square-foot bedroom with the attached bath? Had they bickered in the recently remodeled kitchen? Had they realized they no longer loved each other as they sat in the charming, sun-drenched living room?
Another consideration is who your new neighbors will be. One property manager leasing a snug one-bedroom apartment on Los Feliz Avenue for $2,200 vented for several minutes about the people who lived directly above the unit. More than anything, the property manager wanted to evict these tenants, who, he said, had not cleaned their toilet for several years. This had resulted in a grievous plumbing situation that affected not only their unit but also the one below it — the very unit I had come to see.
“The apartment is yours if you want it,” the property manager told me. I said I’d think about it, but I knew I’d never live there. It seems that I am always being offered the places I don’t want and never the places I do.
When I first came to L.A., I promised myself two things: I would never live on the West Side (I wrongly thought at the time that Silver Lake was superior), and I would never live in an apartment with vertical blinds. But the housing market humbled me. I signed a lease for an apartment in Santa Monica. I had the vertical blinds removed.
Two days after I saw Joan’s apartment, she sent me a text: “Thank you for your interest,” she wrote, “but the Avocado Street unit has been rented.”
I hope that the ball cap woman enjoys her place and that all her furniture fits.
When you were hunting for an apartment, you probably zoned in on just a few must haves – an affordable price in a convenient location that allows pets. You’re not hard to please, right?
Depending on your specific community, there could be a whole world of cool amenities and features right outside your front door that you’re missing out on. And guess what? You’re paying for these amenities every month!
Take my advice: don’t fall into the trap of not taking advantage of what’s available to you. I’ll admit that I’m totally guilty of this myself. I lived in a community in Duluth, GA that had not one but two swimming pools, a workout facility, tennis court, soccer field and a car wash all on-site. Did I ever partake in these convenient amenities? I used the pool and the car wash once over a four year period.
If you like the convenience of having everything you need at your fingertips, then an apartment with lots of amenities is right up your alley. Not only will you be able to have a good time without going far, but partaking in what your community offers is the best opportunity to meet your neighbors. So get out there, mix and mingle!
Billiards
This is an easy way to have fun for free. If you’re planning a birthday party or social gathering, ask your leasing office if this public space is available for your guests to enjoy. These are usually in a common room, where you can spend some time lounging around and getting to know your neighbors.
Meet the Neighbors: Why It’s Smart to Make the Effort
Fitness studio
Gym memberships aren’t cheap, and if you have something in your building, you save the money and hassle of having to go somewhere else like that. Even just the standard of a couple treadmills and some free weights and machines are a great benefit, and some even include free classes.
How Your Apartment Can Help You Lose Weight
Multi-purpose gaming room
For the kid at heart, game rooms are a fun perk. Some places go beyond just the billiard table above, including more games like foosball, ping pong, and air hockey. Some are even equipped with large TVs, perfect for bringing a console and setting up a group video game gathering.
Toddler room
Outdoor playgrounds are to be expected. When it’s chilly outside and the kids are bored, having an indoor play area could be the answer to your prayers. Amenities like these are beneficial if you prefer to limit your children’s TV and technology time. Not only can kids play and interact like they’re supposed to, but you can make some new friends, too. Network with other parents in your apartment community. You might even find a reliable sitter or set up a monthly play date with other parents.
Ways to Break the Ice with New Neighbors
Tanning bed
If occasional tanning is your thing, you’ll appreciate having a tanning bed in your apartment community. Even if this amenity is free, we caution you not to overdo it. Seriously, do you really want to scare the neighbors with your new Tan Mom makeover?
Spa
A day at the spa can be pretty pricey. If it’s not in your budget to spend big bucks on a massage, take advantage of your community’s spa, sauna or steam room. This feature meets the demand of residents who crave a high-end renting experience.
High-end fitness facilities
Do you like something more varied than a treadmill or lifting weights? Many apartments are more than willing to accommodate that. Tennis courts and basketball courts are frequently offered as a way to get your heart rate going, and have more fun that just repetitive exercise along the way.
6 Ways to Know If Your Apartment is ‘The One’
Movie theater
Why spend your hard-earned cash at the movie theater when you can watch flicks in your community’s cinema? Private screenings, scheduled movie nights and free popcorn are fairly common, but be sure to ask what’s happening in your specific community. Free date night, anyone?
Wine cellar
These often come with nights set aside for wine tastings, a great opportunity to spend more time with your neighbors. Have fun, and drink responsibly.
How to Hang Out in Your Apartment Community
Gift wrapping station
During the rush of the holiday season, this amenity is a must. Spend more time shopping while someone else does all the wrapping for you. Go head, take credit for those perfectly wrapped gifts. We won’t tell!
Bike storage/maintenance
More people are using bikes all the time, especially in areas where you’ll find large apartment complexes. If you’re looking to use a bike a lot, look to see how well they store the bikes, and if you’re lucky, you can find an apartment that has people on-site who can help you when your bike needs maintenance.
Really pet friendly
A lot of apartments allow pets, but how many of them are really, overly pet friendly? Look for ones that offer free dog treats near the office, community playtime for all the dogs and owners to get to know each other, and well-marked dog walking paths and parks. You and your dog will be grateful you spent the extra time looking.
How Apartment Communities are Evolving: Much More Than Amenities
If you think these are cool, there’s a whole world of unique apartment amenities out there that we haven’t even touched on. How would you like wake-up calls, after school care, free wifi and 24-hour on-site childcare?
We want to hear from you: What’s the best amenity your apartment community offers?
As landlords struggle to get people back into office buildings that emptied during the pandemic, some are turning to entertainment and other enticements such as yoga classes to woo wary workers.
At the Water Garden office complex in Santa Monica, a dance troupe has taken up residence and puts on free performances and classes for kids. Flower arranging classes are packed and the weekly tenants-only comedy show after work is a hot ticket. Musical performances by local artists are a lunchtime draw.
Farmers markets, concerts, art shows and other attractions for office tenants aren’t completely new, but they have taken on urgency as landlords and executives of companies occupying their buildings strive to get workers enthused about showing up.Some property owners are hiring “tenant experience managers.”
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In most commercial buildings, only about half the workers show up at their offices on weekdays, key-card swipes reveal. Office leasing is also weak: Space rentals declined again last quarter to bring the overall total of unleased space in Los Angeles County to nearly 20%, well above the 12% rate before the pandemic.
To get workers in the office, “you need to find new ways to engage people,” said Bess Wyrick, head of programming at the Water Garden for property manager CBRE.
With daily office attendance not mandatory at many companies, “It’s no longer about trying to create a work-lifestyle balance,” she said. “It’s about creating a hybrid workplace where people are excited to come.”
Hybrid work patterns have spread widely since the pandemic shutdown of 2020. As companies bring workers back together, many have reduced the number of days their employees are required to be in the office, creating flexible combinations of office days and remote work days.
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Cosmetic company L’Oréal Group demands that employees work in the office at least three times a week, on days of their choosing. L’Oréal sweetens the office experience with such comforts as a fitness center, restaurant, juice cafe and a cabana-like bar that serves coffee drinks and, depending on the occasion, alcohol.
Disney Chief Executive Bob Iger recently announced that employees working from home must return to the office Monday through Thursday starting March 1. Fridays are typically the least populated days for offices, research shows, and while most employees toil at home that day, a few companies are taking them off the business calendar altogether and working 32 hours a week.
Landlords are also keen to make offices appealing so tenants will keep renting space in their buildings.
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The campus-like Water Garden was a dreary place after being devoid of occupants during the worst of the pandemic, Wyrick said. While they were gone, nearby businesses and restaurants nearby failed or left for other reasons.
“The area was a ghost town,” she said.
Wyrick’s first move was to arrange live performances by local musicians and dancers in the courtyard. Among the complex’s biggest tenants are retailer Amazon and technology firm Oracle.
One of Wyrick’s goals was to make the Water Garden a place people wanted to visit, including neighbors who could walk over to take in a mid-day concert or see pieces by local artists displayed and for sale in the lobbies of the four office buildings. Getting a buzz of life into the campus could help address a common chicken-and-egg complaint about going back to the office — people don’t want to go there if other people aren’t around.
Paying performers to appear, serving free food to tenants at holiday soirees and other planned events are part of a marketing strategy to get the property occupied, she said.
“We will lose money in the beginning,” she said, “but it drives people to put roots in the space.”
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The key measure of success is leasing, and Water Garden has added tenants over the past 12 months. Its 1.4 million square feet of rental space is 86% leased, up from 72% leased a year ago, Wyrick said.
One of her leaps to enliven the place was to agree to an unusually short lease with a well-known dance company for an expansive first-floor space last occupied by a furniture showroom. In exchange, Jacob Jonas The Company agreed to engage with other tenants through free classes, performances and other events.
The nonprofit dance company has performed at Lincoln Center, the Kennedy Center and the Hollywood Bowl, as well as with such musical artists as Rosalia, Sia, Elton John and Britney Spears.
For years, the company was based in the Wallace Annenberg Center for the Performing Arts in Beverly Hills. The chance to dance in a working office complex built to the buttoned-down tastes of 1990s business executives holds special appeal to company founder Jacob Jonas, a Santa Monica native who got his start as a street performer on the Venice boardwalk at age 13.
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“Our neighbors are some of the leading corporations in our country. There’s something really validating about that and sharing our work,” he said. “When you have people working behind a desk from 9 to 5 and then being able to expose them to creativity and expose them to art in such a unique setting, that crossover is rather beautiful.”
Workers and visitors at the Water Garden can take workshops in floral design, see weekly comedy shows and attend movie nights.
Nearly a fifth of the L.A. County’s office space was unleased at the end of last year, according to CBRE, and more empty space may hit the market soon as tenants hoping to save money try to sublease unwanted space due to concerns of a constricting economy and potential layoffs. Some are reducing their space because their employees are working remotely.
“The general consensus among most economists is we’re heading into a recession,” said Bradford Ortlund, a research manager at CBRE. Many companies are declining to expand their offices or reducing space as they wait for the economic picture to come into focus.
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The nature of upmarket offices was already shifting before the pandemic as many landlords toned down the dramatic formality of their entrances originally intended to confer status and trustworthiness on the companies inside. As aloofness fell out of favor, owners set out to make their lobbies and courtyards places to linger and enjoy rather than simply pass through in awe.
Their desire to get people working remotely back into offices makes hotel-like hospitality freshly valuable, said the owners of U.S. Bank Tower, the tallest office building in Los Angeles at 72 stories.
It was built to be an imposing corporate cathedral in 1989, but landlord Silverstein Properties is close to completing a $60-million makeover intended to make it feel more like a laid-back hotel where tenants and visitors are invited to kick back. The lobby will include a cocktail and juice bar, a coffee bar, a grab-and-go market of packaged foods, communal tables, a large lounge with plush seating and cabanas to add a resort flair.
Staff will focus on hospitality, said tenant experience manager Melanie Navas. People’s names and birthdays are to be remembered. The 54th floor is a tenants-only lounge with a coffee bar and weekly breakfast spreads to help inspire a sense of community. There are yoga classes at the gym on the 57th floor with views of the city.
“The goal is to get people to feel like they want to come back to work and come back to the building,” she and, “and having them leave happy.”
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Art is a top priority for Brookfield Properties, the largest owner of office space in downtown Los Angeles, which has a longstanding program of engagement with tenants. Permanent and rotating art displays are pleasant — and good for occupancy, said Bert Dezzutti, head of the western region for Brookfield.
“Younger workers are more likely to return to the office if they are around art,” he said, citing a survey Brookfield commissioned in the United Kingdom last year that also found that art and cultural activities improve people’s sense of wellbeing and makes them more productive at the office.
“One positive that has emerged from the tragedy of the COVID-19 pandemic is a new focus on what makes a ‘happy’ workplace,” the survey report said. Findings suggest that workers want to work in spaces enriched by art, culture and wellness, which they believe promote creativity and contentment.
“The offices of the future must be more than machines for working in,” the report said, “they must cater to the rich inner life that we all possess.”
One youth-friendly program Brookfield puts on in L.A. is an annual music festival that follows the Coachella Valley Music and Arts Festival. Acts from the popular desert concert series appear after work on four August nights at a Brookfield office and retail complex near Crypto.com Arena.
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Musicians from the Colburn School perform acoustic sets at another Brookfield property. There are DJ concerts open to all and wellness events for tenants that include skin care classes and meditative sound baths.
“We’re creating opportunities for people to interact,” Dezzutti said. “It’s all about engagement.”
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
As the old saying goes, “In real estate, location is everything.”
You may not know much about REITs, but you might want to consider one of them as a career. They’re great for people who like real estate, enjoy making money, and need consistent work hours.
Real estate investment trusts (REITs) are companies that were formed to make it easier for individuals to invest in real estate.
Want to know what the top paying jobs in Real Estate Investment Trusts are in 2022?
Well, take a look at this list of 25 best paying jobs for real estate investment trusts and see if you can find one that sounds perfect for you. In addition, each job features information about how much each job pays, what you can expect on the job, any job training needed, and other fun facts!
If you are looking for your next career, this article will give you plenty to think about as well as potential opportunities that may be available to you.
What are real estate investment trusts?
Real estate investment trusts, or REITs, have become an increasingly popular way for investors to get involved in the real estate market. REITs allow people to invest in large-scale real estate projects without having to purchase and manage the properties themselves.
In addition, REITs offer shareholders a wide range of benefits, making them a great choice for those looking to invest in this growing market.
How do real estate investment trusts work?
A REIT is a type of company that owns and operates various types of real estate, and because they are exempt from corporation tax on profits generated through rental income and the sale of rental properties; They are a very attractive option for high-earners.
They pile investors’ money together and invest in various commercial real estate, which increases returns over time. In addition, REITs are generally owned by the general public, and they invest in real estate assets.
Lastly, they make a profit through investments or leasing; a return on investment is typically received as a dividend. Real estate investment trusts are similar to mutual funds in that they hold investments, distribute dividends, and pay taxes.
Is a real estate investment career good?
Real estate investment companies are a great place to start a career in real estate.
Real estate investment trusts (REITs) are one of the most productive industries today. They provide steady and consistent growth, as well as good job opportunities with high salaries. Careers in real estate that can lead to better-paying jobs include appraisers and investment bankers.
Best paying jobs in real estate investment trusts
The market for REITs has grown rapidly in recent years, with the total value of REITs reaching almost $3.5 trillion by the end of 2021 (source).
There are many different jobs in the real estate investment trust industry that come with a variety of salaries. The best paying jobs are reserved for the C-level executives:
Chief Executive Officer: The CEO is the highest-ranking executive officer in a company and is responsible for making major decisions that affect the business. CEOs in the REIT industry earn an average salary of $468,000 per year.
Chief Financial Officer: The CFO is responsible for financial planning and reporting, as well as managing relationships with banks and other lenders. CFOs in the REIT industry earn an average salary of $341,000 per year.
Chief Operating Officer: The COO is responsible for overseeing all day-to-day operations of a company. COOs in the REIT industry earn an average salary of $325,000 per year.
Followed by the attorney, which is one of the highest-paying professionals in real estate investment trusts.
Now, we are going to list the most lucrative jobs in REITs. Then, you can decide… is real estate investment trusts a good career path for me.
The higher paid jobs will come with more education needed and years of experience.
1. Real Estate Attorney Jobs
Real estate attorneys are in high demand for their knowledge of transactional law and contractual issues. They work on a variety of deals involving the purchase, sale, or leasing of real estate. As such, they provide critical legal support to the real estate investment trust (REIT) industry.
Real estate attorneys license in their state to practice law. They can prepare contracts, advise clients on purchases and investments, review documents, represent mortgage lenders at closing, or simply provide legal counsel without the requirement of an attorney’s license.
Consequently, real estate attorney jobs are an excellent opportunity for those looking to work in the REIT industry.
Real Estate Attorney: well over 6 figures (average)
2. Real Estate Developer
Real estate developers are typically involved in the design, construction, and marketing of properties. They are also involved in land assembly and subdivision, zoning regulation, and the establishment of building codes.
Builders are involved in all aspects of the development process, from acquiring land to constructing buildings. Promoters are responsible for finding investors and marketing completed projects. In both cases, real estate developers may work either on their own or with a team of partners.
A developer obtains land and constructs assets for sale, while also selling them off when they become old enough to be sold again.
Real Estate Developer Salary: over 6 figures (average)
3. Director of Real Estate and Facilities
The Director of Real Estate and Facilities is responsible for a variety of tasks within the department. These tasks include, but are not limited to, the following:
Acquiring new properties
Negotiating leases
Overseeing property management
Maintaining the company’s physical infrastructure
Developing and implementing strategic plans
A director of real estate and facilities is a key role in any company that deals with real estate investment trusts (REITs). Therefore, this position often leads to advancement opportunities, making it an excellent career choice for those interested in this growing field.
Director of Real Estate and Facilities Salary: $130,000 a year (average)
4. Director of Acquisition
Directors of acquisitions in real estate investment trusts are responsible for finding new properties to invest in for the company.
Typically, they work with their analysts to conduct due diligence on potential investments and analyze the risks and rewards involved in order to provide a recommendation to their superiors.
The acquisition team is responsible for finding investment opportunities for the company, which can be traditional real estate assets or creative ideas that can become a business. They are constantly on the lookout for new and innovative opportunities that can help bolster the company’s growth.
Director of Acquisition Salary: $125,000 a year (average)
5. Real Estate Agent
As a licensed real estate agent, you would help clients buy, sell, and rent properties. In order to become a real estate agent, you must pass an exam that covers topics such as contracts, ethics, and state laws. You would be responsible for understanding the real estate market and helping your clients make informed decisions about their property transactions.
In the case of REITs, you must be a commercial real estate agent who are in charge of dealing with important financial data. They need to know about the internal rates of return, gross rent multipliers, and capitalization rates in order to do their job effectively. In order to become a commercial real estate agent, you will need some background in business and finance. This knowledge will help you understand your client’s needs and better serve them.
Unlike most professions, the more business deals you close as a real estate agent, the better your pay is. Furthermore, many agents work on commission-based pay, so it’s important to be knowledgeable about the market and have a strong sales skill set.
Agents who are successful can make much more than this amount; however, those who are just starting out may make less until they gain experience and build a client base.
Real Estate Agent Yearly Commission: $100,000 a year (average)
6. Investor Relations Manager
An Investor Relations Manager is responsible for managing the relationship between a company and its investors. They must be able to quickly understand complex financial information and communicate it in a clear and concise way. Additionally, they are responsible for communicating the company’s financial performance and strategy to investors.
They are also responsible for updating quarterly reports on the investor’s online dashboard. This can be a high-stress job because you must keep your investors happy especially during a market downtrend.
Investor Relations Manager Salary: $100,000 a year (average)
7. Project Manager
Project managers are responsible for ensuring that a project is completed on time and within budget.
They work in teams to make sure that all aspects of the project are completed. Thus, they must have strong organizational skills. They also typically have experience in leading and coordinating teams.
This is a highly lucrative job for those building new assets for a REIT. The highest-paid 10 percent earned more than $187,000, while the lowest-paid 10 percent earned less than $59,000.
Project Manager Salary: $90,000 a year (average)
8. Accounting Manager
They do this by preparing financial statements, maintaining accounting records, and overseeing the work of accountants and bookkeepers. In order to qualify for this position, you will need at least a bachelor’s degree in accounting or a related field, as well as several years of experience in accounting or bookkeeping.
However, with experience and expertise in the field, it is possible to earn much more than that. Those who work for real estate investment trusts (REITs) can expect to make even more money.
Accounting Manager Salary: $90,000 a year (average)
9. Asset Managers
Asset Management is a process that oversees the operational and financial work of a portfolio of assets. This includes tasks such as budgeting, forecasting, reporting, and analyzing data to make sure the asset is performing well.
As they are responsible for managing the portfolio assets in the real estate investment trust (REIT), they must expect a higher stress job. In addition, their job entails working with other departments in the company, such as accounting, acquisitions, development, and finance.
Asset Managers Salary: $89,000 a year (average)
10. Construction Supervisor
A construction supervisor oversees all aspects of a construction project, ensuring that it is completed on time, within budget, and to the required standard. This position requires a great deal of experience and knowledge in the field, as well as strong leadership skills.
They make sure that everything runs smoothly! Speficially, all the necessary equipment, materials, and supplies are ordered and on-site when they are needed. They also check the quality of the work as it is being done; making sure projects are constructed in accordance with contract documents, standards, codes, and policy.
In order to become a construction supervisor, you need only a high school diploma or GED. However, five years of experience in yard operations or equivalent education and experience is preferred.
Construction Supervisor Salary: $89,000 a year (average)
11. Investment Due Diligence Analyst
An investment due diligence analyst is responsible for conducting an extensive analysis of potential investments for a real estate investment trust. They work with the team to identify opportunities, underwrite deals, and make recommendations. The role is essential in helping the team make sound investment decisions that will benefit the company in the long run.
This job is a key player in the real estate investment trust (REIT) industry.
To be successful in this role, you’ll need experience with REITs or a national brokerage, as well as excellent quantitative skills including the ability to build real estate valuation models and distribution waterfalls.
Investment Due Diligence Analyst Salary: $80,000 a year (average)
12. Financial Analyst
The most common role of a financial analyst is assessing a company’s current and future financial health, which may include issuing stock recommendations, forecasting earnings, and providing risk analysis. Financial analysts may also work with investment bankers to identify new investment opportunities.
However, salaries can vary significantly depending on the size of the company, the city in which you work, and your level of experience.
Financial Analyst Salary: $80,000 a year (average)
13. Business Acquisition Analyst
An acquisitions analyst is responsible for reviewing potential investments and determining the risks and rewards associated with commercial property.
The analysis will include both macro-level information, such as the political and economic environment, as well as more fine-tuned data that is specific to the investment itself.
Many in this role have found a business degree to be well worth the cost.
Director of Acquisition Salary: $78,000 a year (average)
14. Commercial Property Manager
Property management is a growing field, as the demand for individuals who can manage both residential and commercial properties increases. The goal of property managers is to ensure assets are kept in good condition and are appealing to owners and tenants alike.
Real estate investment managers have a very important job, as they are responsible for meeting the needs of property owners, tenants, and investors.
Primarily, they oversee maintenance and repairs, collect rent, screen tenants and enforce lease agreements. They also may negotiate leases, recommend improvements to the property, and coordinate with contractors.
Commercial Property Manager Salary: $75,000 a year (average)
15. Real Estate Photography
Real Estate photography is a specialized field within the photography industry. As such, many photographers start their own businesses in this area.
In order to be successful, it’s important to have strong marketing and business skills. Your portfolio should showcase your best work and be tailored to the types of properties you will be photographing. Additionally, you may choose to offer additional services such as virtual tours or video production.
A real estate photographer would work closely with the marketing team.
Real Estate Photographer: $70,000 a year (average)
16. Marketing Coordinator
Marketing coordinators are responsible for developing and executing marketing campaigns.
They work with the advertising department to come up with ideas. Then, working with the rest of the company to make sure that those campaigns are executed properly. They create all marketing materials, track campaign results, liaise with outside vendors, and organize events.
Given the regulations around REITs, it is highly important that the marketing communications follow the investment directives from the SEC.
Marketing Coordinator Salary: $67,000 a year (average)
17. Maintenance Supervisor
A maintenance Supervisor is a position that requires managing and overseeing the work of others. Thus, ensuring work is completed in a timely, efficient and safe manner.
They are responsible for making sure all company policies and procedures are followed, as well as any legal requirements or safety regulations. Additionally, they manage budgets and expenses, as well as staff.
The ideal candidate will have experience in the property management or construction industries, as well as supervisory experience. A degree in engineering, architecture, or a related field may be beneficial.
Maintenance Supervisor Salary: $65,000 a year (average)
18. Property Appraiser
Appraisers are typically called in when there is a need to settle a dispute about the value of a piece of property, or when someone is buying or selling a home and needs to know how much it is worth.
Most states require that you be licensed in order to practice as an appraiser. The job outlook for appraisers is good; the Bureau of Labor Statistics predicts that employment will grow by 4% from 2020-2030 (source).
Property Appraiser Salary: $60,000 a year (average)
19. Leasing Consultants
Leasing consultants are responsible for meeting and greeting clients, touring potential tenants through a property, and helping them decide whether or not to lease it. They must be knowledgeable about the property they are showing, as well as about the local rental market.
Consequential, this is a good job for someone who is able to close deals, so being persuasive is important.
They should also be outgoing and comfortable working with people from all walks of life. A high level of professionalism is essential, as is attention to detail. Leasing consultants typically earn commissions based on the number of leases they sign, making this a commission-based job.
Leasing Consultant Salary: $50,000 a year (average)
20. Commerical Real Estate Intern
Commercial real estate internships are a great way to get started in the commercial real estate industry. Many internships will give you the opportunity to work with the CEO/COO and learn about all aspects of the business.
In most internships, you will gain vast knowledge while working with every department within the company.
Consequently, interns often have the chance to work with different teams and learn about all aspects of commercial real estate. This is a great way to gain experience in the field. Plus you will get a well-rounded working experience and the opportunity to build your network.
You must be a college student who is detail-oriented, self-starter, creative and strategic thinker in order to be considered for any real estate internship.
Commercial Real Estate Intern Salary: unpaid to $20 an hour
(Source for All Salary Information: Glassdoor.com)
Bonus = Real Estate Investors
Real estate investors use a variety of strategies to make money in the real estate market. Some invest a minimal amount of money, while others take on high-risk ventures.
In order to be successful, investors must be well-versed in real estate investment strategy and have extensive knowledge of the market.
This is why REITs are so popular with most investors. It allows a hands-off approach to real estate investing. Yet, still profit in the real estate appreciation and rental income.
Real Estate Investors Salary: varies on the amount of money invested but most want at least a 6-10% return
What real estate investment jobs are entry level?
Real estate investment is one of the best paying jobs in the world. The job offers a lot of opportunities for growth and allows you to work with different types of people.
It also has a relatively low barrier to entry, making it a great option for those who are starting their careers.
Most people in real estate started at the bottom and worked their way up the corporate ladder with hard work and persistence.
What are the minimum requirements for entry level real estate jobs?
The industry is growing rapidly and there are many different opportunities for those looking to enter the field. However, it’s important to note that entry-level jobs in this field come with specific skill sets and education requirements.
Most require at least a college degree if not at least 5 years of hands-on experience. One of the best places to start without any qualifications and education is as a leasing consultant
If you want to progress quickly in your career in real estate, consider taking a chance on one of the best paying jobs in REITs listed here. In fact, there are many jobs available in real estate investment trusts.
REITs – Which real estate investing job looks appealing to you?
The REIT industry is constantly growing, and with that comes new opportunities for a lucrative career path.
Many of the roles in a REIT are highly challenging, pay well, and are respected by investors. Many people work together as a team to build new projects, manage existing projects as well as work to finance them.
There are plenty of benefits of spending time researching this industry and finding the job for you.
In fact, it is an exciting and rewarding career!
Know someone else that needs this, too? Then, please share!!
Higher mortgage rates may discourage some existing homeowners from selling and giving up record-low interest rates they got over the previous couple of years.
New listings during the four weeks that ended April 23 fell 22.4% nationwide from a year earlier, according to Redfin research. The lack of new homes for sale nationally may have had a positive effect on Dallas-based rental giant Invitation Homes, chief executive officer Dallas Tanner said Tuesday in a first-quarter earnings call.
Rental giant’s new South Texas factory to produce prebuilt homes for D-FW
Tanner said that “lock-in effect” limits supply, supporting home prices and rent growth and keeping renters in their homes. The company, which owned 83,000 rental homes nationwide as of March 31, faces the competitive market itself when selling its own properties.
D-FW Real Estate News
Get the latest news from Steve Brown and the business staff.
“We’re seeing evidence of this supply-and-demand imbalance when we list our homes for sale and receive multiple competing offers at great prices,” Tanner said.
In addition to the lack of inventory of homes for sale, Tanner said rising costs of homeownership are further driving the demand for single-family home leasing.
Nationally, the average monthly cost of owning an entry-level home in the U.S. was $3,428, while the average monthly payment to rent a similar home was $2,130, according to John Burns Research & Consulting.
In the Dallas-Plano-Irving metro division, the average cost of owning a single-family home was $3,389, over $1,000 more than the average cost to rent a similar home at $2,346, according to John Burns data. In the Fort Worth area, homes cost $2,900 to buy versus $2,023 to rent, a difference of $877.
Renting is still far less expensive in Dallas-Fort Worth than in other metros
Tanner said during a recession, more people may stay in rentals and the company could see more opportunities to grow.
“Since our inception, we’ve matured and performed through a variety of operating and macroeconomic environments, including a global pandemic and record-high inflation,” Tanner said. “Throughout this time, we’ve witnessed the resilience and the relative strength of our business.”
The lack of new inventory may also give Invitation an edge over smaller single-family rental companies struggling to grow their portfolios, Tanner said. Invitation, meanwhile, struck a deal with PulteGroup in 2021 to help bring thousands more rental homes to the market.
Nation’s biggest homebuilders could boost D-FW footprint during lending crunch
“As we see some of these smaller operators who are having trouble getting scale or sizing up, there could be potential [mergers and acquisitions] over the next couple of years,” Tanner said.
Investors purchased about 30% of all single-family homes in the Dallas-Fort Worth area last year, according to John Burns data. Companies like Invitation that own more than 1,000 homes represent only a sliver of the local housing market, far surpassed by small investors.
As of March, Invitation Homes owned 2,847 homes in D-FW with an average monthly rental rate of $2,128.
Demographic trends are favoring the company with more millennials reaching its average resident age of 39 and individuals and families wanting the convenience of leasing but the features of traditional single-family homes such as more space, garages and yards for their kids and pets, Tanner said.
“Today’s residents are requesting flexibility and choice, along with the appeal of a down-payment-light lifestyle.”
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This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Right now, many people are exploring different industries looking for the right career change.
As such, people are intrigued about the real estate market, but don’t want to start their own company. So, working for a REIT may be a good fit for you.
Real estate investment trusts, or REITs, are publicly traded investment vehicles that allow investors to pool their money and invest in a wide variety of real property assets. These assets can be diversified by investing in an ETF that holds a portfolio of different REITs.
First of all, careers in REIT tend to be highly lucrative and the industry is growing by leaps and bounds.
When viewed as an industry, REITs make significant contributions to the tax base and the job market. Plus the community is the benefactor of all real estate improvements.
in 2020, REITs contributed an estimated 2.9 million full-time jobs to the U.S. economy (source).
In this article, I will tell you how many positions are available in REITs and what these jobs entail.
What are real estate investment trusts?
Real estate investment trusts, or REITs, are a type of security that owns and operates income-producing real estate. REITs are a great way to invest in real estate without having to be a property owner.
When you buy into a REIT, you are not actually buying any real estate yourself–you are simply investing in a company that owns and operates real estate. The company will not resell the properties it acquires; instead, it will hold on to them and generate profits from rent or lease payments.
How many real estate investment trusts are there?
There are a great number of real estate investment trusts, or REITs, across the globe. These trusts have a combined equity market capitalization of $1 trillion and hold a vast array of properties- from apartments to hospitals to data centers.
In the United States, there are more than 225 real estate investment trusts (REITs) that are registered with the Securities and Exchange Commission (SEC) and trade on one of the major stock exchanges.
Over 1,100 REITs have had tax returns filed according to the IRS. Thus, most REITs are privately held.
What is the job outlook for people in real estate investment trusts?
The job outlook for people in real estate investment trusts is good because the real estate industry is growing and there is a lot of opportunity for people who are interested in this field.
The real estate industry is always changing, so it is a good field to be in if you want to have a lot of opportunities for growth.
The job market for people in real estate investment trusts is expected to grow at a rate of about 10% per year. This means that there will be more high-level positions available in the next few years. In addition, 30% of all REIT jobs require a business degree to start at a managerial level. However, you can find entry-level positions to begin your career.
How Many Jobs are Available in Real Estate Investment Trusts
Currently, there are over 1,500 jobs available in real estate investment trusts on Linkedin and 3000 more on Indeed.
There are many different career paths that one can take on within the industry of real estate investment trusts, with different salaries and opportunities.
Best paying jobs in Real Estate Investment Trusts
Asset managers, for example, can make upwards of $200,000 per year. Other high paying positions include those of developers, acquisitions professionals, and investor relations personnel.
It is important to remember that these roles often intersect and overlap, so it is important to be aware of what companies are hiring for what positions. There are many industries in which you can work for a REIT, including construction projects and residential leases.
Real estate investment trusts, or REITs, are becoming more popular as a way to invest in the real estate market. These trusts are responsible for every aspect of a real estate project, from finding and acquiring properties to managing them and leasing them out. This requires a variety of different professionals, including asset managers, accountants, lawyers, and engineers.
Types of Jobs Available
There are also many jobs available in the field of real estate investment trusts (REITs). A REIT is responsible for every aspect of a real estate project, from development to management.
The company also needs to ensure its success, which requires a lot of hard work and dedication. There are professionals managing the trust’s assets and overseeing its portfolio.
If you’re interested in working in this field, there are many opportunities available to you including:
Property Manager
Commercial Developer
Acquisition Team Member
Financial Analyst
Marketing Coordinator
Construction Supervisor
Check out the full list of available jobs in real estate investment trusts.
Each of these positions has different responsibilities and duties.
For example, a real estate agent is responsible for helping REIT buy or sell properties. A property manager is responsible for overseeing the maintenance and operations of a property, while a financial analyst decides whether or not the assets are living up to their financial obligations. Finally, a commercial developer is responsible for designing, constructing, and managing commercial developments.
How do I become a real estate investment trust professional?
You should be able to identify opportunities and analyze data to make sound investment decisions.
You should have experience in financial analysis, accounting, and investing. Excellent communication and interpersonal skills are also important, as you’ll need to work with clients, investors, and other professionals in the industry.
There are many things to consider when you’re thinking about becoming a real estate investment trust professional. The most important factor is making sure that this is the right career path for you. There are many benefits to working in REITs, but it’s important to make sure that you’re ready for the challenge.
Once you’ve decided that this is the right career for you, there are some basic steps that you need to take in order to get started.
The first step is getting educated on the topic. There are many courses and programs available that can teach you everything you need to know about real estate investing. After you’ve completed your education, it’s time to start building your network. Meeting other professionals in the industry and getting connected with potential mentors will help set you up for success.
The final step is finding a job in the industry. There are many opportunities available, so it’s important to do your research and find the company that’s right for you. Working in REITs can be a rewarding experience, and with the right preparation, you can be on your way to a successful career in real estate investment trusts!
What are the requirements to work in a real estate investment trust company?
The requirements to work in a real estate investment trust company vary depending on the company, but typically a degree in business, finance, or economics is required, along with experience in the real estate industry. Some companies may also require experience in accounting, investment banking, or the law.
In order to work in a REIT company, you must meet some requirements.
First and foremost, you must be passionate about real estate investment. Secondly, you must be able to devote the time and resources necessary to do your job well. Finally, you must be able to meet the company’s standards and uphold its values.
REITs are required by law to invest in real estate–so it’s important that you have a firm understanding of the market before working in this industry. In addition, REITs are limited in terms of the number of shareholders they can have (no more than 50% held by five or fewer people). Lastly, REITs are mandated to pay out 90% of their taxable income each year so that investors can benefit from regular dividend payments.
How Much Can You Earn Working for a REIT?
Smaller companies with lower profit margins usually offer the lowest-paid jobs. Larger companies with higher profits and more complex job tasks often pay more than smaller ones do.
According to Payscale, the average base salary for the REIT industry is $75,000 a year (source). This is above the median salary of $60000. Thus, jobs within the REIT industry are more lucrative than you can find in other industries.
Lead Analysts and Senior Analysts are the most popular jobs within the industry with annual salaries of $80,000 and $90,000. It’s important to note that these figures are national medians and may vary depending on location.
Executive-level jobs offer the highest earning potential with the average salary for a senior executive position reaching well over six figures ($105,000). However, it is also worth mentioning that these earners typically have an ownership stake in their company.
Therefore, if you’re looking to maximize your earnings as a REIT employee then working for a large company is your best bet.
How Many Are Real Estate Investment Trust Jobs Being Created Each Year?
The number of jobs in real estate investment trusts is growing rapidly, with more than 1000 positions becoming available each year.
REITs are a type of business that creates many jobs.
The number and percentage of these jobs will vary depending on the specific industry in which the REIT operates; however, there are always many opportunities for those interested in this field. It’s important to research the particulars of each position in order to decide which is best for one’s interests.
Individuals can be employed in a variety of positions in the REITs sector, including accountants, construction managers, leasing consultants, property managers, and financial analysts.
There are a variety of job opportunities in REITs, depending on the specific department or position you’re interested in.
Many even are early morning jobs too!
Other jobs in real estate investing
Plenty of different jobs are available in the real estate industry and can be broken down into three main categories:
People who invest in real estate
Those who manage or develop properties
Employees who provide support services.
There are a variety of job descriptions to fit your experience level.
In fact, if you keep using these good excuses to miss work, then a job change is probably needed.
REITs – Real Estate Industry a Possibility for You?
It is important to know how many jobs are available in a particular field so you can see if it’s worth pursuing as your career.
As this article showed, real estate investment trusts, or REITs, makeup one of the higher paying jobs. Surprisingly, it has one of the lower barriers to entry as a career field.
Plus, there are more than hundreds of thousands of people who are employed by REITs.
You can earn a lot of money working for a REIT, depending on the company you work for and the job you have.
Start your job search now.
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