Zillow, Opendoor, and other iBuyers made quite a name for themselves over the past two years. By buying up every house on the block, iBuyers quickly became the “no work, best price, all cash” alternative to selling through an agent or a wholesaler. These huge, wall-street funded businesses were buying thousands of homes in the blink of an eye, doing some quick repairs, and flipping them in record time. But even with all this activity, iBuyers were slowly hemorrhaging money, causing most of them to crash and burn within the past year.

Now, all that’s left standing is Opendoor and Offerpad, two of the most experienced iBuyers around. But will either of these giants survive until the end of 2023? With home prices starting to plummet, interest rates rising, and last year’s homeowners not looking to move, will Opendoor and Offerpad bleed out before they get another shot at this wild housing market? We brought in real estate tech strategist, Mike DelPrete, to give his opinion on the future of iBuyers.

Mike has been watching iBuyers for a while. He’s seen them creep into towns, buy up inventory, just to sell at a loss months or years later. He knows what competition looks like for real estate investors, and he doesn’t think iBuyers offer much of a threat. Mike walks through the current state of iBuyers, how they could end wholesaler and realtor careers, why most iBuyers were designed to fail, and why companies like Opendoor and Offerpad may be forced to pivot strategies very soon.

00:00 Intro
04:01 A Better Way to Buy Homes
07:43 Are iBuyers Taking Out Agents?
17:07 Competition for Investors
24:32 Are iBuyers Dropping Out?
33:13 The Path to Profits
45:46 What's Next for the Housing Market?
52:49 Connect with Mike!
53:20 Jamil Damji: CEO of OpenDoor

~~~~
Join BiggerPockets for FREE 👇
[ Ссылка ]
~~~~
Listen to The “On The Market” Podcast Wherever You Listen to Podcasts:
Spotify: [ Ссылка ]
Apple Podcasts: [ Ссылка ]
BiggerPockets: [ Ссылка ]
~~~~
Join the Future of Real Estate Investing with Fundrise:
[ Ссылка ]
~~~~
Find an Investor-Friendly Agent in Your Area:
[ Ссылка ]
~~~~
Read More Research from Mike:
[ Ссылка ]
~~~~
Predators and Prey Article:
[ Ссылка ]
~~~~
Opendoor Algorithm vs. Local Flipper:
[ Ссылка ]
~~~~
Connect with Dave and Our Panel of Guests:
Dave Meyer: [ Ссылка ]
Henry Washington: [ Ссылка ]
James Dainard: [ Ссылка ]
Jamil Damji: [ Ссылка ]
Kathy Fettke: [ Ссылка ]
~~~~
Follow Dave and Our Guests on Instagram:
Dave: @thedatadeli or [ Ссылка ]
Henry: @thehenrywashington or [ Ссылка ]
James: @jdainflips or [ Ссылка ]
Jamil: @jdamji or [ Ссылка ]
Kathy: @kathyfettke or [ Ссылка ]
BiggerPockets: @biggerpockets or [ Ссылка ]

Episode 58

Show notes at: [ Ссылка ]

#biggerpockets #onthemarket #onthemarket58

свернуть