1778: Mike Simonsen, Altos Research, Data on Single Family Homes, National & Local Market Statistics, Low Inventory & High Demand

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Welcome. I hope you are doing well. This is the intro portion for Creating wealth, episode 1778. And the question on everybody's mind is, will the housing market continue or will it slip? Will we see higher prices next year? Will we see lower prices next year or will it just kind of even out? Let's get into it. Okay, so let's take a look at some data. This is the chart that the media would have us believe.

And if we believe it, we might miss an opportunity. Okay, so why do I say that? Why is this chart so common? This, and when I say this chart, I really mean this concept so common. It's repeated all the time, but it leaves a lot of inaccuracy. Right. And so what it tells us is that median incomes or income growth in general is not keeping up with housing prices. And that is true. That is true. However, what they don't tell you, which is even more true, or to use a cliche, it's truth here. It's more truthiness. Okay, so the more truthiness here that they're not telling us is that the mortgage payment on the house is actually pretty darn reasonable historically because the interest rates are so low, obviously. So if we were to just look at housing prices, we, we would be very misled about housing affordability. And of course, if you've studied my Hartman comparison index and you've heard my episodes about that, you understand this better than anybody. Certainly better. Than the mainstream media, which is misleading the public into believing housing prices are so high because hardly anybody buys based on a price. They buy based on a monthly payment. Of course, we all know that, right? Okay, but look at this. Rents are soaring. We went over this on a prior episode. We see rent growth just beyond the beyond. It's beyond comprehension. In fact, Gilbert, Arizona, I recently saw a statistic that, you know, this article cited many cities, but Gilbert, Arizona rents up 116%. And forgive me, I can't remember the time period they're talking about. But suffice it to say, look at, we all know rents are going through the roof there. Rent is too damn high, as the saying goes. Okay, but our guest today, if you're listening to the full podcast episode, is Mike Simonson. He is back for part two from Monday's episode and he dives deep with me into the housing market, into what's going on. When we look at listed homes and see what they're doing, it is very, very telling. But this article in Housing Wire recently said some good stuff and it basically asked that question that we all want to know. As we approach the end of another hot year for the housing market, home buyers and sellers are looking forward to the coming year and wondering what will happen? What will the housing market bring? Well, Mike says, and I think you'll hear it echoed in Monday's episode and in today's episode, which is part two where we take a deep dive with him on the podcast, on the Creating wealth podcast into this discussion. But in this article you he basically says look at a high level, demand will continue to be strong into next year. And if you look at this chart, it shows the housing market since April of 2017 and it shows the number of days on market. Now the days on market is a good telltale sign of how quickly the market is moving, how optimistic or desperate, if you will, buyers are to get into the market. And also it reflects the optimism or greediness of sellers in the marketplace. And it shows that back in October, well, probably really around November, December of 2017 or maybe January of 2018 even we saw the peak days on market for this few year period of about 100 days on the market. And of course we see that usually increase in December around the holiday time when not as many people are moving. But at the same time a lot of properties just come off the market during that time. So the ones that are on the market do experience longer days on market. Then we saw that drastically decline in about the middle of 2018 to just a little over where we are now. And I would say there it was about 55 days on market average. And then we saw it escalate again to about 85, 90 days on market right around April of 2019. Okay. And then we saw it decline again. Then we saw it go up again. But where is it now? Where is it now? Well, right now, days on market, it's pretty low. The houses are selling quickly. Only about 49 days on market for the typical house that's for sale. So that's pretty quick. But it's not the quickest because remember last spring, we saw an absolute frenzy. People were going absolutely crazy. They were just desperate to buy houses. And sellers had not adjusted for that yet. The market reaction. Remember, in any marketplace, there is always a lag time. There's a lag time between the expectation of sellers and a lag time in the expectation of buyers. So when we see a market where prices are increasing rapidly, the market we've been in for quite a while in that market, we will generally see buyer expectations do not keep up with seller expectations. In other words, the sellers are being super optimistic. They're thinking their houses are worth an absolute fortune. And the buyers are saying, hey, are you kidding me? Are you sure about that? And it takes a while for the buyers to kind of capitulate and agree with the sellers. Right? But in a declining market, one that we are probably not going to see for a couple of years, if you ask me. Now, granted, who knows, right? You never know what's going to happen. And we live in an economy that is centrally planned by elites, by dictators, by tyrants. Yeah, I'm not a fan of the Federal Reserve, and I'm not a fan of a managed economy. I'm a fan of a free market economy where the buyers and sellers of products, services, and money set the prices of things. And remember, money, just like lumber or copper or gold or silver or houses or services that maybe your business or the business you work for provides to other people. It's just a commodity. Money, like anything else, is just another commodity. And money has a price to it. And that price is referred to as the interest rate. But we don't have a natural interest rate. We don't have a real interest rate for money. We. We have a managed interest rate for money. We have a centrally planned fake interest rate, a manipulated interest rate. Okay, so what? Well, the. So what is that? They can, you know, Jerome Powell and his friends on the open market committee at the Federal Reserve can just decide, hey, we're gonna raise interest rates. And they don't directly control mortgage rates, by the way. They control them indirectly, but they certainly control the tightening or the loosening of the money supply, which obviously trickles through to interest rates. And so we don't have a natural interest rate. So this is why making a prediction is so darn difficult. Because in a centrally managed economy, centrally planned economy, or a managed economy, we don't know what will happen. We don't know what the people running things will do. It would be much easier if the economy was dependent on buyers and sellers and market actors. It would be much easier to predict things. But since that's not the case, it becomes very hard to predict. Okay, fine. So during the frenzy time on market, 21 days today, about 49 days. So still a pretty brisk and robust market, as we are literally 10 days before Christmas, which is pretty surprising to see that in this type of market or this type of season. Okay, so what about inventory and what does it tell us? So Mike says in this article, home prices will remain high into 2022. With demand showing no signs of cooling and record low inventory, I expect prices to remain high into next year. The median price for single family homes this week, well, and that was really last week, is $375,000. Now, remember something that's listed homes, so, you know the median price, you'll get different numbers on that because sometimes it'll be new homes, sometimes it'll be resale homes or existing homes, and sometimes it'll be sold homes or listed homes. This is listed homes, and that's about 10% higher than it was last year, where we were likely at the end of the year. Okay, so the end of the year, usually prices cool off, the market cools off, and it did do that a little bit this year, but not as much as it normally would. Normally, that seasonal adjustment would be much more pronounced than it is this year. In other words, very unusual to see the market this hot this time of year. And so for those of you watching on the video, you see this chart here. There's way too many numbers on it for me to go over it. But the point is that the market is hot. Now, another point I just want to tell you. And then we'll go to part two, which is the interview with Mike, to talk about Altos research and all of this market data and take a deep dive into it. But this is interesting. This article was in Real Trends, and it's about the Biden administration cracking down. Yes, cracking down on what should be Considered a good thing in a normal world. Right. And this is cash transactions. Yes. They are very suspicious of people paying cash for homes because they think they are engaged in money laundering. And certainly, look, money laundering and illicit illegal activities have been going on since the beginning of time. There's nothing new about drug smuggling or whatever illegal activity people are involved in. It has happens. Right? And so the way they're trying to obviously catch these guys is by where are they spending their money? Right. Where are they spending the money? And now they are suspicious of people paying cash for homes. And so they use all of these excuses to invade our privacy and invade our lives. And literally they are saying, look, don't pay cash, use debt. Because we're in a debt based monetary system. And remember that money is created through lending. Money is lent into existence. And when I say money, I really mean currency because money is real, currency is fake, it's fiat. But again, it's just interesting that you have another push, another excuse to push the debt based culture. Now look, at the same time, and I'm not contradicting myself here, you have to peel back the layers of the onion. I think it's fantastic to use mortgage debt. It's one of the best privileges we have as real estate investors because that 30 year fixed rate debt is phenomenal and it gets debased through inflation. And you take advantage of my inflation induced debt destruction technique. So I think it's a phenomenal opportunity. Use debt to buy your properties. But it's just interesting to note that they're now suspicious of people paying cash when they should actually be saying, hey, isn't this a good thing? Shouldn't we be rewarding people who saved up money, who created capital, who delayed gratification so that they could purchase a home with cash? Again, not recommending you purchase a home with cash, but just saying that that's a concept that should be considered prudent and a good thing in the government's eyes. Right. In our own eyes as investors, we don't want to pay cash, obviously, but it's just interesting to see that. So I thought I'd share that with you. Let's get to part two and take that deep dive with Mike from Altos Research. Here we go.

Prop 13 helped buoy the California market market for decades.

For decades. Yeah, it's nuts because you think about like, I mean, how beneficial it is to me personally, but to my kids, they're screwed.

Right?

Right. Because they can't buy. And it's, and it's funny because so that's what's tricky. Like, you have to vote to get rid of your. This massive tax break because it just destroys the market.

For.

For anybody who wants to buy in the future is really a tricky space.

A lot of tricky, dysfunctional stuff, for sure. Okay, good. So. So we know that inventory is only about one third of. Of what we consider normal, right?

Yep.

So we're missing two thirds of the inventory in the market. But how high can that push prices? It's so interesting because we don't know what the upper limit is. Nobody does. Right. You know, is it going to be that Midwestern markets or Southeastern markets that are inexpensive now are going to someday have the kind of prices that, you know, Hong Kong does? Right. Or Singapore or London or Paris? You know, I mean, how bad can it get in terms of the prices?

Yeah, that's a good question. I don't know where that is. I do know that, you know, you can look at affordability in terms of the payments that people make. And the payments that people make, you know, are. Are more a function of interest rates, mortgage rates, than they are of the price itself.

And they are low.

And they are low.

You adjust payments for interest and inflation. Real estate is actually quite cheap in a lot of places.

Yes. Yeah, exactly. And so I don't have any ability to predict interest rates. I'd say, you know, I bought my first house in 1996, and I locked in my rate at eight and a quarter because I was afraid rates were going to go up. I bought my next house in 2001, and I locked my rate in for 30 years at 6% because I thought rates were going to go up. And I keep locking it in and, like, I don't know where they're going to go. It feels like they would go up, but. But who knows? You know, that's interesting. But, you know, the other side of that is the demand coin. And, you know, I look at the millennials, who are the biggest population group ever.

Yeah.

80 million hitting their peak earning and buying years. And that's got five years of growth to happen. So we're in this low inventory, low supply, high demand for five years at least. And then the question is, what are the other things? Like, do mortgage rates climb? Does that tamper? Do we hit some kind of big recession? Does that tamper, demand? All of those variables have yet to be seen.

Yeah. And so just to add on to your comment, the oldest millennials today are about 40. Okay. Millennials aren't so young anymore, folks. Okay. They're about 40. And they will hit their peak earning and spending years in about six years. So that. That's the leading edge of the millennial generation right there. And after that, I mean, if we don't create more supply, we have problems. The real estate market really does have a serious imbalance, doesn't it?

It sure feels like it does. There's. There's some good signs in construction that we've got some new construction coming to.

It feels like we're finally not under building, and we'll end up. See where that takes us in the future.

Okay, what else do you want to show us? More charts?

Yeah, we can do more charts. So I mentioned price reductions. So a lot of times when I'm talking to a broad audience like yours, there's at least a group of folks who are waiting to invest till the crash comes, Right? And so one of the leading indicators we can see is the percentage of homes on the market taking a price reduction. In general, nationally, you can think about that as a rule of thumb is 35%. So 35% are. These are the sellers who want too much, or sometimes it's strategic, sometimes it's accidental. But they overprice. They take a cut before they sell, about a third as the market heats up, then it's maybe 25%. And so you can see each year this range where the market trends. And as the year starts, price reductions are low transactions happening quickly. As you get closer to the fall, people start cutting their price to move the home. You can see the highest point in here as it was at the end of 2018. That's when mortgage rates were rising. And all of a sudden, some people were caught by surprise, and so they cut prices. So sellers were caught, like demand weakened a little bit. And you can see it in price reductions. 2018, 37% with price reductions. The year before, it was only 33%. So you could see where that happens. So if you have a hypothesis that demand's about to crater, and I think if demand craters, then I'm going to swoop in with my cash. One of the leading indicators you can watch are price reductions. And you can watch demand cratering. So. Or in. And last year we had this craziness where the cycle never happened, because in the fall last year, there was way more demand than was expected, Right? And so fewer people had to cut prices. Then this spring, we had the craziness. And so by. By April 30 or mid May, only 15% of the homes had taken needed to take price reductions. Normally, it's 35. Only 15%. Only the really wackiest ones that were.

And is that. Is that like per week or what is that?

So it is. Of the homes on the market now.

30% of them as of right now are 28% have taken a price reduction sometime in the last 90 days, so have taken a price cut. So it's not like 30% are cutting prices right now. How many of these were overpriced and taken a cut?

Okay, got it. So just to. Just to sum that up for the people who aren't looking at the chart, right. So back in 2015, kind of normal ish market, 34%. The following year, about 34%, then 33%. About the same, right?

Yep.

And then during that slowdown part, 2018, rates went up and we saw price reductions spike up to 37%.

Right.

Okay. So that's a difference. Now, coming out of the pandemic or the lockdowns, at least, we saw price reductions go down to like 26%. So they're way lower. They're about 10 points lower than the prior 36%. But then at the peak of the market frenzy, they were down to only 15.8%, reducing their price. Now getting back toward the normal direction, we're 27%, but still much lower than usual.

Much lower than usual. And if you're in the market right now, you know that that's true, right? That you know that there's still lots of. You know that if you're overpriced now, you're more likely to have fewer bidders than if you did it in April. Like, you can see that, you can feel it. This number is also very local. So I encourage people to. You can go to altosresearch.com and grab reports and look at local markets. So, for example, Phoenix typically has a higher. Is like 45% at its peak because there's more investor activity, there's more outsiders, there's greater inventory per capita, but it still has the same cycle. So when the bubble burst in 2006, 7, 8, you could watch this number climb to 40%, 45, 50%. Half the stock is taking a price cut because there's no organic levels of demand out there. There.

Yeah.

And when you see that, then you go, okay, now that, like, at that point there's, you know, there's buyer opportunity.

Yeah. So I'll just give you an anecdotal story about that. I'm doing another 10:31 exchange. I had my identification deadline on Monday. That was two days ago. And I literally sent in the form at about 11pm which I had one hour left. And for 45 days before that I was making offers, making offers, making offers, offers, everything. I just got beat out on every offer. I couldn't believe it. I finally managed to get two houses under contract. And I was so relieved that they didn't make me pay above full list price. I mean, I. As if I thought that was a good deal. They made me remove many contingencies or shorten them dramatically. Appraisal, inspection, financing, you know, a 50% down buyer, huge earnest money deposit, still no clout. It's just they don't care. Yeah, right.

And that's though slightly better than if you were buying in April of this year.

Yeah, right. Right.

And so, and you can see it in the price reductions data. Right. You could see it in this chart right here. What it says right now is that we're still far hotter market than, quote, normal. Back off the. It says, it shows us that we're back off the frenzy peak. But it also shows us that we, if you notice, we're at the far right end of this chart here. We're ticking down just like we would at this time of year. Which means if you had a hypothesis, for example, that you thought people coming out of forbearance, we're going to flood the market with foreclosures. Happening, not happening. And you can see it not happening. Right. Because if they were there, you like people would be, they'd have to cut prices to keep up with them. So it says all of those things. It shows us how we're set up for a strong first half of 2022. Because these are homes that haven't sold yet.

That's true. So inventory low and price reductions not very high.

Yeah, low for this time of year.

Right. And do you track. Well, you don't have any way to track multiple offers on a property. Do you track homes that sell above list price? Well, you wouldn't know that till they close. Right, right.

That's exactly right. So we don't, we don't track things like homes above list price. But here's what you can do is you can see it in this data, right. You can see the same phenomenon happening back in May when it's 15% with price reductions. You know that that's also the exact peak of multiple overbid offers. So they're just tightly correlated. That's another way to look at that. But you can see it here before the house closes. So you can see it earlier in.

This Data, Right, Very good. Okay, give us one more and then let's go to some local data, Mike.

Okay, so let's look at days on market. So days on market. This is looking at the active market. You know, what we know right now is normally, you can see. Normally might be 11 or 12 weeks this time of year. And you can see a normal seasonal curve. It's later. It takes longer later through, just through the holidays than January. The first quarter comes out, you get new inventory and days on market declines. Last year was nuts. You know, it. It dropped in the fall and stayed low super late. And that was showing us how we were set up for a strong first quarter this year. We had the peak of our Frenzy was only 21 days on market for the whole country.

Wow. Remember something, what Mike said, this is every house for sale in America. The average on market at the peak market Frenzy was only 21 days on market. Right now it's 42 days. But a normal market is what, 77 to 84 days.

That's right. So that's right, Normal. So now you're three months, you're four months in that range would be normal for this time of year. Right. You're like, now it's. It's November and you got the holidays. And then it goes even up higher because people don't buy stuff over, over Christmas. And, you know, and then it finally resets in January. So what this is telling us again is this number is not climbing super fast. So we know that demand's not going away. We know that it's staying unseasonably strong. We know that a lot of in the super bullish markets, a lot of the junk clears out. And so the junk that sits around for a long time is all of a sudden not sitting around. So we can see all of those things that happen. It's one of the other sort of bullish leading indicators for 20, 22.

Yeah. Wow. Yeah. This market is tight, for sure. Mike, you were kind enough to share some of your local market data, especially for markets that our investors are buying in. Let's look into that. Remember, folks, all real estate is local. Good to look at a national overview because you just get a sense of what's happening. But all real estate is local. So we are looking at the Altos website now.

Yeah. And so you can go to the Altos website and you can get local data. You can run a report report and get local data. And we pulled up a few where your, you know, your investors are working in the Southeast. Like, I'm Not. I live in San Francisco. I don't know anything about Ocala, Florida. But let's look and see what we can see immediately about Ocala, Florida. First thing to know when you look at Alto's reports is we have this market action index. It is at a glance answer. How's the market? It is. It uses supply versus demand. It uses a bunch. It uses. We know exactly what the inventory levels are and where it is to normal. And we know demand. We have a bunch of indicators of demand. So this thermometer, this speedometer, when it goes up, that's a hotter market. So right now that's a 30 on this scale is balanced, like a balanced buyer, sellers. And it's a seller's market. Obviously right now it's 64 out of 100 out of 100. And we could look and I'm sure you know, earlier in May it was, it was even higher. Yeah, we can look at. And so each of the data points here. Price, price of new listings that we talked about, price for. These are all what if you walk into the market right now, These are the homes. This is.

Okay, so. So compared to what we were just talking about right Here in Ocala, Florida, 30% of the listings have reduced their price and 6% have increased their price.

Increase their price. So those are flippers.

You know, Mike, when it, when it doesn't sell, you just raise the price.

Exactly, exactly. But you know, that's what's interesting is you can tell that Ocala is a, is an investor market because there are 6% really high. Right? Those are fix and flips, those kinds of things that come in there. But let's look down here in the big chart so you can see what's happened to prices over, you know, the last few years in Ocala and, and like continue to just, just fly this year. But if we switch this to our percent with price decreases. So let's look at this number. So here's three years of data. Normally in Ocala, the past few years, here's your 30 to 35% range. And then last year at this time, it was down to 27%. And then in here's April, May 16, 15, 14.

14.5% taking price decreases.

That's right. So 14. That's right. 14%. Only 14% of the homes, like you think about all the crazy sellers who overpriced, only 14% had to cut their price to get the deal done. That's increased back in Ocala. And we're at 30% right now. A little closer to normal.

Yeah. Right, right. You know what's interesting about that, though, is, you know, it doesn't necessarily answer the Compared to what? Question, because, of course, the price they set, there's no barrier to that. Anybody can set any price they want, but you have to kind of assume that they've always done that. Right, right. So when you compare it, historically, people were crazy and wanted ridiculous high prices in 2012, just like they do in 2021. Right?

That's exactly right.

Yeah. Okay.

And buyers know it.

Right?

Right. So what that's showing is that, you know, it's at 30% instead of, you know, 34 normally. So that is bullish, but not nuts going into next year. That's actually encouraging to me. Right. Nuts is a little scary. Here's another thing I like to point out in the Altos data is we do every market in the country, every zip in the country, every city in price range segments. The high end of the market may be behaving differently from the low end.

That's very true. Yeah.

And so you look down, you scroll to the bottom of your ALTOS report and at the bottom here is about 190 grand, the lowest 25% under 200k. That's Ocala, Florida. The high end is 600k. And we can look at a few things we can see. The high end is these are one and a half, one to two and a half acres, where the low end is half an acre. So you're not going to buy a $190,000 house, remodel it and sell it for 600.

Right.

Because you can't build a lot, but you might be able to go from 200 to 350 because those are the same lot size.

Right.

You could see these are 1300 square feet to 2000.

Right.

You can see the age, what you're buying in that range. And then you can also see the days on market. So the fastest moving stuff in Ocala is 21 days is the cheapest stuff. The cheapest stuff. That's not always true, but in Ocala it's true.

But mostly I'd say that's going to.

Be true in general, it's true. But in some of the markets, especially some of the investor markets, the bottom, the lowest ones are real junk.

They're the real really stigmatized properties in really bad neighborhoods.

Yeah. And they take longer to sell. And we can look and we might notice that somewhere. What's interesting is when the subprime bubble burst in San Jose, California, you could watch days on Market, you know, the expensive homes, multimillion dollar homes, were going fast or slower than the cheap homes when subprime burst. At that time you couldn't get a subprime loan. And all of a sudden that flipped. You could still get a million dollar mortgage, but you couldn't get a half a million dollar mortgage because those were subprime buyers. And so at that time we could watch this. The things that were moving in San Jose, where the million dollar plus homes and the cheap homes wouldn't move at all. It was really fascinating.

So it also says something about the concentration of wealth when you get to the ultra high end because the rich are definitely getting a lot richer.

You could absolutely see it there. So it's a fascinating way. When I bought my house in Silicon Valley in 2001, one of the things I did was I bought the cheapest little old piece of junk, you know, in a very expensive neighborhood. And my plan was to remodel. And what I wanted to see was could I go from the lowest quartile, the lowest segment with a remodel to maybe the third segment. And, and then, and we can see, we can track price per square foot at that range. And we can. And so we can see. And what we, what for me, what allowed me to do is say I can add a thousand square feet out of this house. I bought 1,000 square foot house, you know, I had a million dollar mortg mortgage and then I could add a thousand and literally double my money.

In value instantly.

Right, but that's not necessarily the house in the same school district or whatever. Right?

Yeah, in this case it's Ocala. But we can look in the zip code and you can look at. And dive down.

Let's look at like Jacksonville or okay.

Let'S look at Jacksonville. So Jacksonville.

So it's a 66, so it's a little busier than Ocala. Ever so slightly.

Yep. And pretty stable from last month. If we look over here, we can see that earlier in the year it was even hotter in Jacksonville.

Like most everything, right?

Yep, exactly. Here's our price decreases is at 37%. So let's look at the trend of price, price reductions over time. So like, like Ocala, you normally. So Jacksonville, because it's a bigger market and has, you know, more turnover and normal in Jacksonville for price reductions might be 40 to 45% price reductions. Last year it was 35, 36. Jacksonville's lowest was 21 this year. And now we're back at the 36. So we're back to a hot, you know, it's, it's still hot. It's not insane. But and, but it's not climbing from here. So we're, we're like setting up for.

A strong, interesting stuff. Mike, this is fascinating. And I know we could go on this stuff forever because it's so interesting, at least to nerds like us, right?

That's right.

But. Well, the website is altosresearch.com, right?

Yep.

Okay. And you can get free reports on local markets there. Is there anything else you want to share with people as you wrap it up?

You can also go to the Altos Research YouTube channel. We do the national reports every Monday. And so you can keep on top of this data every week. Follow us there. Subscribe to the Altos Research YouTube channel. And especially if you're an investor, if you've got investor clients and realtors, you can sign up and you can put your Altos reports branded for you in the inbox of your clients, your sphere every week. And that's how you really keep them informed. That's how the systems work together.

Good stuff. Mike Simonson, thank you so much for joining us in this wealth of information. We really appreciate it.

This is a real pleasure. Pleasure.

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With technology. Almost every aspect of income property investing can be done from the comfort of your own home. Join the Empowered Investor Inner Circle for monthly live training sessions with Jason Hartman and special guests to discuss which investment strategies will work the best with your unique life situation and portfolio. Get regular real estate updates and articles so you're in the know and up to date with what's happening in the world of income properties. You will also receive inside access to Jason and his team of investment counselors who will quickly answer any of your questions. Access our Rolodex of vetted resources including property managers, contractors, plumbers and electricians so you know you're getting someone who does high quality work. Act now and we'll include one free year of access to PropertyTracker, a web based program that will help you manage your income expenses, legal documents, contracts and all contacts associated with administering income properties nationwide.

A one year subscription to PropertyTracker costs $347 per year, but if you sign up for the Empowered Investor Inner Circle today, you will receive one year of property tracker access for free. Don't let this unique opportunity pass you by. Join the Empowered Investor Inner Circle today.

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