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!
Episode Highlights:
- 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.
Resources Mentioned:
- Learn more about Hyperfastwealth.com; Careers - Check out the available careers with The Keri Shull Team!
- Dan Lesniak (bio, Facebook, Twitter)
- Sunil Saxena (Website, LinkedIn)