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Friday, March 27th, 2020

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Posted by: | Posted on: March 27, 2020

Driftwood Rebrands to Focus Beyond Hotels

Carlos Rodriguez Sr.

CORAL GABLES, FL—Driftwood Capital has rebranded itself to emphasize its expansion beyond the hospitality industry. The former Driftwood Acquisitions & Development is preparing for the future, says its CEO Carlos Rodriguez Sr.

“We’ve grown this network of investors and our platform and way of doing business,” Rodriquez tells GlobeSt.com. “And we realized that it has a lot of potential for future growth in different areas. By rebranding as Driftwood Capital, preparing ourselves to or create new platforms on a going forward basis to allow us to continue to grow and diversify.”

Rodriguez notes that Driftwood’s network of investors—now numbering more than 700—thinks of the firm as being hotel experts, but they have other investments as well. He says the more Driftwood can open up its platform and serve investors in other areas, the better it can service its clients. He says “Driftwood Capital” is a better name

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Posted by: | Posted on: March 27, 2020

OZ Fund: Social-Impact Investment Interest on the Rise

Photo by Shutterstock

If there is any silver lining in the COVID-19 epidemic, it’s that people are banding together to try to survive the ordeal. Whether it’s young people buying groceries for the elderly or people purchasing food for emergency room workers, social media is full of reports of ordinary citizens banding together.

Reid Thomas, executive vice president of NES Financial, an Opportunity Zone fund administrator, thinks investors will show that same spirit after the crisis is over. “There is a prominent link to a heightened focus on health and a general bias towards making a positive social impact that this particular issue [COVID-19] is drawing attention to,” he says.

After recently partnering with Howard W. Buffett and his advisory firm, Global Impact LLC, Thomas says that his company has received an uptick in interest from investors of all types.

“What we didn’t expect to see is more traditional investment

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Posted by: | Posted on: March 27, 2020

The Property Brothers Make a Bold Bathroom Decision You Have To See

Drew and Jonathan Scott are used to adding bathrooms to homes. That extra downstairs restroom is convenient and welcoming, especially for guests.

So why, on the latest episode of their HGTV show “Property Brothers: Forever Home,” are the brothers removing a second bathroom instead?

In the episode “Come On Over,” the brothers meet Stephanie and Chris, who’ve been in their Toronto home for 15 years. They love their stylish house, but it needs some finishing touches to make it more functional.

However, this simple renovation gets complicated when the brothers tear out the home’s second full bathroom, demo the practically new kitchen, and spend an unexpected $20,000 fixing the ceiling.

Did Drew and Jonathan mess up big-time on this house? Read on to find out about the method to the brothers’ madness. There’s a ton to learn!

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Posted by: | Posted on: March 27, 2020

How Record Unemployment Claims Will Affect the Housing Market

As businesses across the United States have been mandated to close their doors in a desperate effort to slow the spread of COVID-19, people have been losing their jobs left and right. Now, we’re seeing the first unemployment report since the first “shelter in place” orders, and it’s far more grim than anyone had expected.

A record 3.28 million Americans filed for unemployment support in the week ending March 21—the most claims ever filed in a single week.

“Normally, when an economy goes into a recession it develops slowly over time,” says realtor.com® Chief Economist Danielle Hale. “That’s not happening this time around. … It’s pretty clear that the economy is grinding to a halt pretty suddenly.”

It will also be a tough blow to the already wobbly housing market, since those who lost their jobs are not likely to be buying a home anytime soon. Even the millions

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Posted by: | Posted on: March 27, 2020

The Coronavirus Could Hit Mom-and-Pop Landlords Hard as Tenants Miss Rent Payments

With April 1 right around the corner, residential landlords across the country are waiting to see how bad of a hit they’ll be taking from the coronavirus pandemic.

Millions of Americans have lost their jobs or income as the pandemic has shut down businesses and brought entire cities to a standstill. And many of these people will be unable to pay the rent when it is due at the beginning of the month. It’s a situation unlike anything landlords today have faced before.

‘Some people I think might believe landlords are all rich and have tons of money. I wish that were the case, but landlords are just trying to pay bills like everyone else.’

Clint Cash, who owns seven properties in the Dallas-Ft. Worth area

“I don’t think we really have any baseline for this in modern history,” said Flora Arabo, national senior director of state and local policy

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