Daniel Ruiz, Executive Journalist
Nov 24, 2020
For the majority of the year 2020, the world has felt the brunt effects of COVID-19.
For the majority of the year 2020, the world has felt the brunt effects of COVID-19. Economies have slowed down, and industries severely hit. However the real estate industry is booming. Experts like real estate and mortgage coach Colin Daugherty McDowell, believe there are still plenty of reasons to remain optimistic.
When asked what his recommendations are for avid investors and real estate professionals, Colin believes nothing should change. “I think you should be doing exactly what you would do if COVID never hit,” the industry leader suggests. “But you need to do it with eyes wide open.”
Colin McDowell is one of the top mentors for mortgage brokers and real estate brokers in the United States. He’s young, but he’s dominated the field of real estate. The founder of many real estate and mortgage corporations, from top tier mortgage originations, to consulting and processing, has built a name and legacy for himself in financing and real estate investing. When he was only twenty-four years old, he led an OCC project for Bank of America. His project oversaw more than $4 billion in mortgage assets facing foreclosure and aided over 25,000 homeowners.
In recent times, Colin shared his insights about where the real estate industry will be like in the coming days as COVID-19 comes to its tail end. There is more than enough reason to believe that real estate will not be affected by the crisis for mortgage and real estate professionals. “There is no reason to believe that people won’t continue buying homes,” Colin shares. “The Northeast is strong. And with the real estate market improving. It is still better than where things were before the Great Recession.”
Colin is also quick to point out the favor people have in lower mortgage rates. Bank interests have dropped to record lows with the economy hit by lockdowns and business closures. This trend makes real estate more affordable, and these unprecedented times a great time to maximize and buy if families or individuals have the capacity. The more significant opportunity comes for millennial families who now need the extra room to work from home on a more permanent basis.
Colin McDowell also shares the many technological advances in real estate that have risen in usage and popularity with the new normal on top of market outlooks. COVID-19 has streamlined and pushed industries into greater digitization, making software, online platforms, and digital marketing practices more widespread across the industry. This advancement in technology, Colin adds, will cause real estate professionals to innovate more and bring more outstanding progress in the way people buy, sell, and invest in property.
In recent times, Colin McDowell has spent more time educating investor professionals on leveraging mortgage backed securities and getting the best results on dollar for dollar yield spread. On the home front, he shares his best practices and tips through coaching and consulting, helping more people attain their dream homes or win as investors. Colin also takes time to consult for businesses in other industries and inject some of his invaluable insights from his corporate and entrepreneurial backgrounds.