Author Archives: Kenny Estes

About Kenny Estes

During Kenny's decade in finance he bought many single family rentals in rural areas, as a hobby. Along the way, he talked some brave souls into joining him as investors and recently retired from finance to take his hobby to the next level. Keep up to date with everything he's doing on twitter!

Real Estate and Interest Rates

The Surprising Truth About Interest Rates and Real Estate Values

For the last five years or so the Federal reserve has been working hard to keep interest rates low (by printing money and calling it “stimulus”). Last week, they announced they would taper their stimulus, which should cause a spike in interest rates. As a fellow real estate investor, I asked the obvious question: how will this influence the home prices?

Pundits love to get television and spout how increased interest rates will make it more expensive to borrow money, which in turn will deflate home prices. Any talking head can come up with a theory, but you can’t place any value on it until there is evidence to support it.

So…what does the data say?

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Future of real estate lending

The future of real estate lending

A few weeks ago I wrote an article exploring the new rent backed bonds Blackstone has begun issuing.  When I wrote that article I thought their next step would be to start buying leases from investors and bundling them up.  Turns out, I was wrong…but not by much.

Blackstone is calling their next step B2R.  I recently had a phone call with one of their employees, and I thought I would share my thoughts on what this means for the real estate market.

Continue reading on BiggerPockets!

Bitcoin Bubble

Is This a Bitcoin Bubble?

Bitcoins are on the tip of everyone’s tongue these days; probably because they quadrupled in price in the month of November.

Although they’ve been around for years, this is the first time they look like they might live up to their promise: challenging the US dollar for dominance. Should you buy them? Or are we seeing a Bitcoin bubble? I’ve been following Bitcoins since the year they were put into circulation, so I thought I would share my thoughts with you.

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cynical investing

Cynical investing

At Pear Tree Property, we’re gearing up for our mid-November investment round. That means I’ve got to put on my salesman persona (which I’m woefully bad at).  One query I’m oft asked is “how do you determine what to buy?” My typical answer talks about about focusing on cash flowing properties in rural areas. While this is true, I want take today and discuss our overall strategy: what I call cynical investing.

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Swing dance around the world

I’m going to take some liberty and add a personal post to this predominantly business blog.  In the beginning of the year, my wife and I did a two month honeymoon around the world, swing dancing the whole way.  Here is the video Theresa was good enough to put together.

Hope you enjoy!


Are our property management rates too high?

Pear Tree Property strives to make investing with us as painless as possible, which includes managing the properties.  We view this as a service to the investors and we don’t want to make money off it.  It’s a “commodity” not a “profit center.”  The theory is that as we get larger and economies of scale kicks in, we’ll drop how much we charge and the investor’s returns will jump.  It’s been a while since I’ve checked that our property management rates are low enough.  Who knows, we might be raking in the mula!  Let’s check shall we? Continue reading

pair programming

Pair Investing

In my recent post on I discussed traits you should seek when vetting a potential real estate investing partner.  I have a confession.  That comment was self serving.  90% of the time I find myself on the other side of the table, being vetted not vetting.  I love when potential investors come to the table with well thought out questions and a willingness to delve into difficult topics.  Why?  Prior to my real estate I wrote a lot of code using a popular technique known as pair programming.  I call what we do “pair investing” and it has many of the same benefits.

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