The secret to real estate success: accountability

Want to get serious about real estate investing? Join the ORAAT accountability group

One of the most surprising and inspiring things about One Rental at a Time is the fact that more and more people continue to step up and add value for other community members.

Frank “Old Guy REI” Contreras is one of these folks. He hosts an accountability group on Wednesday at 6 p.m. Pacific Time for members of the Skool community, helping to keep everyone on track and focused on their investor journey. 

Frank launched the accountability group after our event in Las Vegas last February. He says he originally started the accountability group because he wanted to help folks at the beginning of their investing journey. After all, that’s when he needed the most help. 

He began hosting weekly group calls with a few people from the ORAAT community and then decided to open up the meeting to more people. The accountability group is now an extensive network of experienced and new investors. The sessions are often upwards of three hours long, so people are encouraged to jump in and out as their schedules allow. 

I think the accountability group is something that has been missing from the ORAAT community for a while. Being able to get specific advice and ask specific questions is something you can only really do when you have access to a group of people who are on the same path.

Committing to joining the accountability group aligns with three key components of being successful in your investing journey:

1. Consistency: We are all busy—but at the beginning of your journey it doesn’t actually take a lot of time to get on the right track. However, it does take consistency. Joining the accountability call, even if it is for twenty or thirty minutes a week, helps commit you to the routine required to make progress. 

2. Finding a like-minded community: I’ve said before that being around like-minded people at varying stages of their investor journeys is key to success. This is the perfect place to find people who are willing to share their highs and the lows of real estate investing. When times get tough, they are also the types of people that will help you navigate through the rough waters. 

3. Staying focused: With all the noise out there in the real estate investing space, it's key to have a network that understands and supports the importance of focus. Your goals need to be specific, and spelling out those goals and your progress every week is one way to ensure you don’t get distracted or bogged down by all the noise. 

ResiClub chart of the week:

Last month, ResiClub’s Lance Lambert looked into a recent Morgan Stanley report that argues U.S. homeowners are the “strong hands” this cycle. “Strong hands” refers to those who have the financial capacity and confidence to hold onto an asset for a long period, even during periods of market volatility or downturns.

ResiClub outlined three data points that back up Morgan Stanley analysts' point:

1. 39% of U.S. homeowners are mortgage-free.

2. Among U.S. homeowners who have a mortgage, 96% have a fixed-rate mortgage. 

3. Among U.S. homeowners who have a mortgage, 76% have an interest rate below 5.0%.

The chart below corresponds to point No.2, demonstrating that from a worldwide perspective, the U.S. is unique in that the vast majority of homeowners with a mortgage have a long-term, fixed rate. 

This matters because long-term, fixed rates are one measure used to curb risky lending practices. About 80% of U.S. subprime mortgages issued before the 2008 bubble burst were adjustable-rate mortgages. 

Number of the week: 40.5%

According to Altos Research, the active inventory of single-family homes is up 40.5% year-over-year. Moreover, ResiClub recently reported that 41 of the top 200 largest real estate markets are now above pre-pandemic inventory levels. 

When we look at active inventory growth, it is important to ask whether this growth stems from an uptick in new listings or a decrease in demand. 

In my opinion, we are seeing the latter. I’ve seen about the same amount of new listings hit the market over time, but high rates have kept demand bottled up, causing active inventory to build. 

Folks, this is great news. The housing market is starting to heal itself.

More inventory means more choices. More choices mean more motivated sellers and more motivated sellers mean better deals. As investors, we want a slower housing market.

Join the One Rental at a Time Skool Community

Just a few weeks after our launch, the One Rental at a Time community on Skool is almost 200 members strong.

We’re creating more opportunities for you to interact with those who have achieved financial freedom through real estate investing. 

Being surrounded by people at all stages of their real estate investing journey is crucial to your success, and joining us on Skool is an easy way to do just that.

It is only $20 to gain access to my monthly (or more) live streams as well as various millionaires answering your questions in real-time and connecting with people who can help you. 

Learn more about how I am organizing the ORAAT Skool community content and calendar.

Follow me on X: @1RentalataTime

Subscribe to One Rental at a Time on Youtube