Mobile Millennials and Their Unique Relationship with Real Estate

James Mahan New Braunfels Real Estate & Millennials

The COVID-19 pandemic has changed the world in many surprising ways. You’re seeing a lot of people work remotely now due to the circumstances and millennials are a big part of that trend. You see, millennials are very qualified to work remotely because they have the right experience and training to work using computers. This ability to work remotely is also changing the way that they look at real estate.

Breaking Leases

If you don’t need to be in a specific location to work at your job any longer, then why are you staying in one place? This is a question that some millennials are asking themselves at the moment. You might see a trend of more millennials breaking their leases in favor of traveling around. This might seem strange at first but it can be very freeing to be able to not feel shackled to an apartment or house any longer.

Traveling

Traveling certainly appeals to millennials and it isn’t unusual for millennials to want to travel while working. You can definitely argue that traveling isn’t wise during the pandemic but that doesn’t necessarily stop some people. Traveling and living in an RV or a large van instead of a home is possible. Some millennials choose to live this way and enjoy road trips as they keep on working remotely.

You’ll even find people spending cash on nice AirBnB rentals instead of renting an apartment. They could work remotely from some unique location that they have always wanted to visit. Once they’ve had fun exploring that area, they’re able to move on to do something else. This might seem as if it is a chaotic way of living to some but there are portions of the millennial and Gen Z population that will like this.

Will Millennials Return to Homes?

Will millennials return to wanting to rent or buy homes in the near future? Time will tell and it’ll have a lot to do with how things shake out with the pandemic. Economic uncertainty could keep some people from wanting to commit to things such as mortgages or apartment leases. However, it’s unlikely that most millennials would want to simply travel forever.

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Is Your Unemployment or Severance the Key to Entrepreneurial Success?

James Mahan New Braunfels New Entrepreneur

Wanting to start a business is pretty normal, but it can be hard to figure out how to get things started. Many people can’t figure out what the best time is to pursue an entrepreneurial idea due to not being able to forego a paycheck to make it happen. Could your unemployment payments or severance package be the key to entrepreneurial success? Read on to explore how this situation could help you out in the early days of your business idea. 

Using Your Unemployment Money to Seed Your Business 

It’s certainly possible to use your unemployment money to seed your business if you have enough of it. You’re going to need a certain amount of money to get your business idea off the ground. Try to determine how much you need and then see if your unemployment benefits are enough to make it happen. For most people, this is still going to be tough since you also need to use some of that money to pay your bills and keep on living. 

This is likely going to be a more practical idea for those who are earning more cash. If you were working a lucrative job and received a good severance package, then that money could be very helpful to you. You can use that cash to buy things that you need for your business while also taking care of your personal expenses. It all comes down to how much you need, how much you have, and how much you can afford to spend. 

You Could Keep Working Too

It’s possible to keep working while pursuing a business idea as well. There are many entrepreneurs who work on business ideas on the side while maintaining a corporate job to keep money coming in. It won’t be as easy to dedicate time to a business idea if you have to work a normal job, but it will keep the lights on. If you can slowly build your business idea until it’s ready to go, then you will mitigate the risk to your personal financial well-being. 

Saving cash over time might be safer than trying to use your unemployment to pay for your business idea. You could try to bank extra cash to use as business funds. It might take a long time to save up what you need by going this route, but it would be substantially safer than trying to use a small sum of money in a short period of time to launch a business. Consider your options and how much cash you’re making before moving forward with anything. 

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Advertising in the Time of the Coronavirus

James Mahan New Braunfels Ads During Covid

The COVID-19 pandemic has had an impact on many areas of life and industries. The advertising industry is something that has been impacted quite a bit by the pandemic as well. It is said that $50 billion dollars are being wiped out of the advertising budget due to coronavirus. Keep reading to learn a bit more about just which areas of advertising are being impacted the most. 

Print Ads

Print ads are way down due to the coronavirus, and it makes sense that this would happen. People aren’t going out into the public as much this year due to the pandemic. You aren’t seeing people buy newspapers or magazines as often as they would before. Instead, you’re seeing people turn to online sources for entertainment and news, which makes a lot of sense considering the situation. 

Television Ads

Television ads are also down during the time of the coronavirus. Television advertisement spending has been reduced by over 13% and even cinema advertisements are down. Companies aren’t as comfortable spending massive amounts of money on advertisements in these sectors at this time. Experts hope that things will change as the pandemic gets under control, but it isn’t known what the long-term effects of this pandemic will be on traditional advertising options. 

Online Ads

Online ads are being impacted a bit by the coronavirus as well. Overall, spending is going to be down in the online advertisement realm. It isn’t being hit as heavily as the other areas due to people still spending a lot of time online. The growth of online advertisement will be stunted just a bit by the pandemic, but it’s still growing at a slower pace than was originally predicted before the pandemic. 

Moving forward, you’ll likely see a lot more companies spending money on online ads versus other types of ads. Social media advertisements and other types of online ads should keep growing over time. Time will tell how much the growth of online ads will bounce back to the record high numbers of the past. The year 2021 might be a lot different than 2020, after all. 

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Tech That Can Help Real Estate Investments

James Mahan New Braunfels Real Estate Tech

If you want to get the most out of your real estate investments, then it’s wise to make use of technology. Tech is capable of helping you manage real estate investments so that you can avoid problems. Read on to learn more about how tech can help real estate investments. If you use tech properly, then you won’t have to worry nearly as much.

Streamlining the Process of Getting Things Done

Being able to get things done faster will help to protect your real estate investments. Typically, reviewing documents and details will be a very time-consuming process. However, this is only the case if you’re reviewing things manually and you aren’t making use of tech. You can use artificial intelligence to go through everything in a matter of moments and it’s very reliable.

AI makes it possible to confirm that things are how you need them to be. If there are any issues with an investment, then the AI will be able to bring those to light. It can go through millions of data points in a matter of minutes and you’ll get all of the answers that you need. This makes it possible to avoid wasting money on what would wind up being a bad deal.

Improving Efficiency with the Cloud

Things can easily fall between the cracks when you’re sending documents back and forth. You need to communicate with all of your people to get investment deals done but doing things manually without using cutting-edge tech isn’t ideal. You can make things so much more efficient by simply using the cloud. Everyone will be able to seamlessly get things done and you won’t have to worry about people missing certain details.

Using CRE Software

CRE software can even protect your investments by automating things and making it easy. You can set things up so that they will be handled automatically by the software. It saves you a ton of time while also protecting your investments. Getting things done doesn’t have to be difficult and you can rely on tech to make your real estate investments as safe and efficient as they can be.

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How Tech Is Changing Spending Habits

James Mahan Spending Habits

Technology has had such a huge impact on the world in the last several decades. With technology becoming such a big part of everyone’s lives now, it should come as no surprise that tech is also changing spending habits. Keep reading to learn more about how tech has an impact on the spending habits of everyday people. It just might open your eyes to how some of your spending habits have shifted due to technology. 

Impulse Buying

Impulse buying is easier to do now than it has ever been at any point in time. Everyone carries around a smartphone, and this phone has access to all of the online shopping apps that you could want. Some people peruse online marketplaces when they’re bored, and they wind up placing orders without putting much thought into it. The rise of convenient and automated online shopping has made many people start spending more money on things they don’t necessarily need. 

Online Banking

It’s also simpler to keep an eye on your bank balance and account information than it was in the past. You can monitor your spending habits and keep tabs on how much cash you have by just logging into your banking app. Many people are much better at budgeting than they used to be because they are always able to see what they have to work with. Not everyone is responsible like this, but many people are. 

Social Media Influencing Purchases

Purchases are now influenced by what is going on at social media networks as well. You see, social media ads are a big deal, and many people get informed of products through social media. There are also people known as social media influencers who help to push various products. In many ways, social media helps to reinforce the “need” to buy certain things socially. 

Finding Discounts and Deals Online

Have you ever looked online to try to find discounts and deals? You can actually be a much smarter shopper if you use the internet to its full potential. It’s not too hard to find discount codes for online marketplaces, and you can also easily comparison shop at various websites. You have so many choices when shopping online, and it also helps when you’re looking to save cash by buying an item at the lowest price possible. 

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How Furry Family Members Affect Home Buyers

James Mahan New Braunfels Pets And Home Buyers

Pets are such an important part of many people’s lives, and they even impact the decisions that you make. When it comes to buying a house, it’s possible that you might make certain decisions based on what types of pets you own. How do furry family members affect home-buyers? Keep reading to learn more about the impact that pets will have on home-buying decisions.

Yard Size

Yard size is one of the biggest factors that people pay attention to when they have pets. Many pet owners want to have a good yard where their dogs will be able to roam around and have fun. If a house only has a tiny yard, then that might not be as appealing for people who own dogs. It isn’t unusual at all to see pet owners tout yard size as one of the key features that they’re looking at.

In fact, some people have noted that getting a house with a good yard for their dogs is one of the primary reasons why they’re looking into buying a home. Many young people aren’t having children and are instead, just taking care of dogs. Their furry family members are just that important to them, and they want them to have a good time. Making the move from an apartment to a house might be primarily motivated by giving pets more room and comfort for many people.

Convenience for Taking Care of Pets

Convenience for taking care of pets will be a factor when looking at the home too. Buying a home that already has doggie doors might be a good idea for some pet owners. Others will look into things such as the floor plan and whether things seem safe for the types of pets that they own. Pet owners take their pets very seriously, and they want to do everything that they can to protect them.

Fences

Fences will also be something that will attract certain home-buyers who have pets. You see, many people want to be able to let their dogs outside without having to worry about them running away. It can be more convenient to do this when you have a fenced area of your yard where the dogs can play. Many pet owners will be more likely to be interested in a property that has fencing.

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Finance Tips for Entrepreneurs by James Mahan, New Braunfels

James Mahan New Braunfels Business Finance

Entrepreneurs need to try to do a good job of taking care of their finances to keep things safe. If you’re a new entrepreneur, then you might not be sure what to do in regard to financial management. Examine the following finance tips for entrepreneurs that will help to put you in a better position. You should be able to get good results if you’re using these tips properly. 

Understand Your Financial Goals

The first thing to focus on is to ensure that you have financial goals in mind. Your company shouldn’t be wandering aimlessly and having a direction will help you to work toward your goals. It’s best to create both long-term and short-term goals. Short-term goals will be less substantial, but they will be positive steps in the right direction that will help to boost your morale. 

Pay Attention to Your Expenses

You absolutely can’t let your expenses get out of control, and it’s imperative to pay attention to the money that is going out. Track all of your expenses and make sure that you’re recording them properly. The cash flow of your business is going to determine your overall financial health. You might need to adjust expenses and try to cut back on certain things if you aren’t bringing enough money in. 

Keep Your Credit Score High

Do your best to keep your credit score high so that you will have access to funding. This means ensuring that you pay your bills on time and maintain accounts in good standing. It would be a shame to need funding and wind up not being able to access it due to having a low credit score. Businesses often need to take out loans to make purchases or to upgrade certain things, and you’ll want to have access to a line of credit. 

Save Cash

Saving cash for a rainy day is another solid business practice that is worthwhile. You can save extra money that you have earned and put it in an emergency fund. This is money that you can tap into when things aren’t going well. It’s also prudent to turn to this cash fund if you need to upgrade certain things but don’t want to take out loans for whatever reason. 

Finance Tips for Entrepreneurs

What’s the Future of Real Estate? By James Mahan, New Braunfels

James Mahan New Braunfels Future Of Real Estate

The real estate industry has been rocked by the COVID-19 pandemic, just the same as most other industries. Many people are curious about how the future of real estate is going to look once the dust settles. The experts have agreed that certain things are very likely to happen in the real estate market in the near future. Read on to learn about the future of real estate.

More Defensive Investments

You’ll find that people are going to be more likely than ever to want to make defensive investments. Real estate investments will increase because they are seen as a good defensive investment strategy. Many wealthy investors will be trying to invest in real estate to protect their wealth. Time will tell just how prevalent this trend will become, but it’s certainly going to happen.

Divorce Rates and the Need for New Properties

Divorce rates are skyrocketing due to people being forced to stay home with each other. This might sound comical or sad when you’re reading it at first, but it will have an impact on the real estate market. You’ll see an uptick in demand for properties due to families splitting up. This will definitely change certain markets, and you’ll see the real estate market in the US be boosted quite a bit.

People Will Look for Properties with More Space

After having to shelter in place for long periods of time, people are going to start to value space in homes. More people are going to start looking for large properties that offer more space than before. This could even be seen as something of a luxury in the near future. Spacious properties just might become easier to sell than ever because of the pandemic.

Digital Home Viewings

Finally, you can expect real estate to change the way that people are viewing homes. You’re going to see a major shift toward people viewing homes digitally instead of going to a bunch of different places to see things in person. Also, technologies such as virtual reality and augmented reality will play a role in showing people how appealing specific properties are. Things were moving in this direction before the pandemic, but they will move there faster because of what has occurred.

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