The Man, The Myth, The King of Data: Rick Sharga!

Rick Sharga is the founder and CEO of CJ Patrick Company, a market intelligence firm providing industry insights, forecasts, and analysis to real estate companies. Rick has years of experience in the real estate and mortgage industries and he is with us on the show to talk about what we can expect from the market in the last few months of the year. Listen now to learn more about what's really happening in today's market, what we should expect, and how we can plan for the next few months! Key Talking Points of the Episode 00:00 Introduction 02:04 Who is Rick Sharga? 03:51 What should real estate investors focus on today? 08:50 Why should investors pay more attention to insurance? 11:45 How will the demand for housing be influenced by household formation? 13:33 What is the truth behind millennials and their home-buying preferences? 15:37 What is the problem with inventory today? 20:20 How much multifamily inventory can we expect to hit the markets in the coming months? 21:09 What should rental property investors keep in mind in today's market? 22:50 What opportunities can investors find in the AirBnB space? 26:23 Why do real estate investors need to be creative in finding inventory? 30:02 What do you need to know about properties in foreclosure today? 33:32 What opportunities can we expect in the commercial space in the next few months? 39:33 Where can you find distressed commercial properties? 40:40 Why is it highly likely for more banks to fail in the future? 43:27 What opportunities are there in self-storage for real estate investors today? 46:31 What is Rick's advice for real estate investors today? 47:38 How are migration rates affecting the real estate market? 50:05 What can you do to become successful in this economy? 53:02 How is inflation affecting the quality of life of people? Quotables "Look for people that need to sell their properties. There are sources where you can find all of that data and that's where you're gonna be able to find all the assets that you need to buy." "The millennials wanted to own homes at the same rate that gen x did, the same rate as the boomers did – they just got started later." "Don't jump at the first opportunity that you see because there will be other opportunities but make sure that whatever opportunities you do pursue is an opportunity that pencils out for you." Links Social Media: Rick Sharga https://twitter.com/ricksharga https://www.linkedin.com/in/ricksharga/ Website: CJ Patrick Company https://cjpatrick.com/ Website: RCN Capital https://www.rcncapital.com/podcast Website: REI INK https://rei-ink.com/