Holding property as it appreciates is investing. Cummings’ ongoing industry education has changed his conversations with clients. He now finds himself, when he discovers a client is selling, suggesting they hold the property and buy another. Repeat. “An agent’s job is to give their people access to wealth,” Cummings emphasizes. “People don’t know about home equity lines of credit or how to cash-out refinance. As their real estate professionals, we owe it to them to learn more and provide them with all the information.” The team’s current focus is guiding former clients through the process of establishing rental portfolios, with the goal of homeowners ultimately having more equity in their own communities. “People deserve stake in their neighborhoods. It gives them a seat at the table when decisions are made,” Mielke adds. WHERE TO WATCH FLIPPING DOWN SOUTH Catch Season 1 of “Flipping Down South,” on Hoopla, DIRECTV, A&E or free (with ads) on Pluto TV. Or purchase on Amazon Video, Google Play Movies, and Vudu.
to pay what they can to build wealth. They sold the property to the homeowner. No other choice would abide by their values to serve the community first. They tweaked their business to include some luxury real estate to uphold a healthy balance sheet. This practice has become integral in delivering and protecting affordable homeownership in areas where the community is crying out for improvement. Through conversation with PLACE Co- Founder Ben Kinney, Cummings and Mielke decided on yet another stream of income: holding real estate instead of selling immediately. Flipping houses isn’t an investment, it’s revenue generation.
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