On this segment of HyperFast Wealth, host Dan Lesniak and co-host Sunil Saxena take us through a recap of investment projects in 2020. Though this may have been the craziest year the world has ever seen, a lot has still been accomplished by the real estate investing team!
- 2020 has been a challenging year but has presented the opportunity to accomplish and learn a lot.
- The construction in the DMV area has actually gotten better during 2020.
- DC only felt a 10% drop in the real estate industry, well below the national average.
- Markets all around the country, besides the locked-down areas, surged after the initial dropoff.
- Dan and Sunil were able to sell their project at above the expected price, even in the middle of the pandemic.
- Prices in the DC area were actually up in July and August, further cementing the strength of the market.
- Sunil has been in the DC market for over 20 years through the great ups and the big downs.
- Dan believes that there is going to be a supply crunch in 2020 as the DMV area is already down to 2 months of inventory.
- Sunil and Dan’s Alton project, 2 single-family homes, is on pace to finish in 2021 with about a $500k raise.
- On top of the projects already in the pipeline, there are 2 or 3 other projects that are already under contract.
- 2021 holds a total of 115 new units coming with a total equity raise of $11.45M.
- At all times, Sunil and Dan have about 4-6 offers out and future projects that they are working towards.
- Dan’s team within his team has grown from just Amy at the beginning of the year to 5 total to start the year.
- Amy’s team is projected to do over 200 next year bringing a necessary growth of her team.
- Sunil and Dan have built their production team, bringing on a new manager as well as 2-3 people in the field.
- Sunil is most excited about building the team that is going to allow the company to scale even faster.
- Future projections show that the team may be able to quadruple the number of projects that it can take on.
3 Key Points:
- The DC market tends to be less affected by economic troubles that hit other parts of the country incredibly hard.
- In DC, prices actually rose in July and August this year, supporting the claim of a strong economic shield.
- Dan and Sunil have a plethora of projects set to be completed in 2021, most of which coming with a 6 or 7-digit raise.
- “We just can’t seem to beat this market. It’s just so resilient.” - Sunil Saxena
- “No matter what the world throws at us, it seems like the real estate is always good here.” - Sunil Saxena
- “It got harder to acquire projects. What that means is that 6-18 months later, there’s going to be a lag in the supply that would have come.” - Dan Lesniak
- “Even to take on 10 projects at a time is quite a bit and we’re looking to take on 20 or more at any given time.” - Sunil Saxena
Tags: Sunil Saxena, 2020 year in review, HyperFast Wealth, real estate investing, HyperFast, HyperFast Academy, HyperFast Agent, HyperFast Agent Podcast, HyperFast Agent Coaching, Keri Shull, Keri Shull real estate, Keri Shull coaching, Keri Shull podcast, Dan Lesniak, Dan Lesniak real estate, Dan Lesniak coaching, Dan Lesniak podcast, Keri Shull Team, Orangelinelivingteam, real estate, real estate coaching, real estate training, real estate career, real estate entrepreneur