Your Daily Real Estate Investing Digest, 21.07.21

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Wells Fargo closes personal lines of credit, Fundrise is considering the Los Angeles area, a downside to city districts, the return of iBuyers, retail and medical space could be a great mix.

In today’s news

Report: Wells Fargo Closes All Personal Lines of Credit

According to letters from customers reviewed by CNBC, the bank is closing all existing personal credit lines in the coming weeks and no longer offering the product.

Conclusion “Millionacres”: The report says that between $ 3,000 and $ 100,000 on these types of lines of credit, there could be about $ 25 billion in outstanding debt. Influence at real estate investors as well as repairmen who uses this type of loan includes the need to go somewhere else and possibly with a lower credit ratings caused by relocation.

Can the app repair the area?

Fundrise, an online platform for individuals to collectively invest in real estate projects, aims to transform the entire neighborhood into Los Angeles, Bloomberg CityLab reports today.

Conclusion “Millionacres”: So, can the app update the area? If you think it’s possible and want to join, Fundrise is for you. Check this piece our Matt Dilallo to learn more about this leader in commercial property crowdfunding

The downtown business district was vulnerable. Even before COVID-19

And now, maybe even more. This The newspaper “New York Times piece uses CoStar data and a number of experts to weigh how much.

Conclusion “Millionacres”: The lack of real estate diversity in many of our major cities makes office space vulnerable to downturns as the pandemic exacerbates the situation. Knowing how much and where can help investors move to greener urban pastures.

Today by a million acres

iBuyers are back: here’s what it means for investors

iBuyers like Opened door (NASDAQ: OPEN), Offerpad and other similar companies have taken a notable step back during the pandemic – but now, according to new data, they are back in full force.

Conclusion “Millionacres”: Our Ali Yale University says iBuying’s return after the pandemic recession shouldn’t have much of an impact on supply – at least nationwide. However, this may have affected some marketsespecially those with an above average iBuyer presence.

The future of the doctor’s waiting room could benefit retail

“I love to wait in the doctor’s office!” no one ever spoke in their life.

Conclusion “Millionacres”: Our Barbara Zito looked at a couple tendencies: renovation doctor’s offices to improve the quality of service and to combine medical offices and retail space. She says that as more healthcare facilities move into new, improved patient care, retail investors can benefit from, for example, moving to a nearby home and providing a first-class customer experience of their own.

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