May 14th, 2020 2:11 PM by Eric Willner
Radio Show Notes 5/11/20 Monday: In The New Gig Economy – Real Estate Is The Best Business In The World
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By Eric Willner, Host of The Real Estate Show, America’s longest running daily radio show about real estate.
In the Monday edition of The Real Estate Show, Eric Willner reveals another of his Unconventional Strategies For This Unconventional Market – Go To the Gig Economy Now! And the best gig in the world is Real Estate!
1. a labor market characterized by the prevalence of short-term contracts or freelance work as opposed to permanent jobs.
Why is it called the gig economy? The gig economy gets its name from each piece of work being akin to an individual 'gig' – although, such work can fall under multiple names. It has previously been called freelancing, moonlighting, andmore recently, the "sharing economy" — mostly in reference to platforms such as Airbnb — and the "collaborative economy".
The gig economy is taking over the world, and the United States is no exception. An increasing number of American businesses and workers are opting for the gig model, primarily because of more flexible working conditions. Younger generations are leading the way, although there’s a significant number of gig workers who were born well before the 1980s.
There are many factors influencing the growth of the gig economy. Companies are turning to freelancers to do jobs that are not directly related to their industry (such as marketing, design or content creation) in a cost-effective way. A growing number of online platforms offer excellent earning opportunities, and with a decreasing need for physical presence in the workplace, it’s easier than ever to work for multiple employers simultaneously.
Still, being a gig economy worker comes at a price. Gig workers enjoy a flexible lifestyle and the freedom of being their own boss, but many sacrifice their financial security and income predictability.
According to one study, the freelance economy is growing three times faster than the traditional workforce in the United States. What was once considered a fringe employment model has now become mainstream.
In light of the continued impact of the novel Coronavirus and the crashing employment figures, experts believe the road ahead may be longer than expected and having a new source of income now may be critical – even more than ever!
In his discussion on The Real Estate Show about some unconventional strategies in the New Gig Economy – Eric lists 10 reasons why Real Estate Is The Best Business In The World. Here they are:
1. Work from Home (or Anywhere). Ironically, now we are being required to stay in our homes, but this has long been a dream for many would be entrepreneurs – to be able to stay home and make your own hours.
2. You can work Real Estate Full time or Part time. It’s you call depending on what your goals are.
3. You can make a lot of money. There are plenty of stories and lots of evidence out there.
4. No Special Equipment Needed.
5. No Inventory required.
6. No Employees needed.
7. No large upfront investment
8. You can be successful in your own backyard
9. No licenses or degrees needed.
10. Satisfies a basic human need.
Experts predict that Jobless claims will continue to roll in and unemployment could fly past the current 15%, putting it at its highest level since the Great Depression! So heeding Eric’s advice for Unconventional Strategies For This Unconventional Market – Go To The Gig Economy Now, may be very good advice right now.
First, get an accurate picture of where you are right now. How much cash do you have on hand? What else can you easily convert to cash? For many media reporters and government officials that say things are not so bad, a little out-of-the box thinking may be in order. Consider instead some unconventional strategies for this unconventional market would be prudent. Stay tuned ALL THIS WEEK for more about the gig economy!
When it comes to real estate, the same concept of unconventional strategies for this unconventional market – get into the gig – applies, but just with a twist. It may be too late to sell into our recent market strength, but you can still pull your cash out with a refinance and historically low rates. Plus there is a special but limited window of opportunity RIGHT NOW. Due to the fact that there have been few sale transactions closed during the lock down over the last 30 days, appraisers are still using March comparable sales – before the Covid-19 Pandemic took hold of our economy. That means higher appraisal values for a limited time. Once those comps become greater than 90 days old lenders will likely stop accepting these older higher comps, and this window of opportunity will slam shut!
Finally, do not panic, stay informed, and use your best judgment. The situation is rapidly changing, so focus on putting policies and procedures in place to keep your perspective.
Listen to the show live or the archived version in its entirety for all the tips, facts and ideas discussed today.
Want more? If you are serious about real estate and paying off debt, then find out more on today and every day’s episodes and learn more about Real Estate Investing and learn HOW TO by listening to The Real Estate Show with Eric Willner. The Show is Live every weekday morning at 8 o’clock (EST) on Florida’s Money Talk Radio station WSBR: AM 1470, FM 95.3, FM 96.9, and FM 103.9. You can also hear us on the free apps: iHeart Radio and TuneIn. Recorded Rebroadcasts are available 24/7 on Facebook.
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Eric Willner is the Host and Founder of The Real Estate Show, an informative show about how to buy, own, and improve real estate the right way, on autopilot. - The Automatic Landlord way. (AutomaticLandlord.com) You can reach Eric Willner at Eric@Ericwillner.com or 888-595-7779.
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