958: Hiring a Property Manager 101: Make More (in Less Time) from Your Rentals w/Luke Rzepiennik and Michael Vialpando

We’re almost halfway through 2024, and the housing market is at a standstill. Mortgage rates are high, inventory is low, buyers have fewer choices, and many homeowners refuse to put their properties up for sale. But could things change in the second half of this year if interest rates fall and inventory improves, even if ever so slightly? We brought Redfin Chief Economist Daryl Fairweather on this BiggerNews episode to get her team’s latest 2024 housing market predictions. First, Daryl explains how our stubbornly strong economy put the Federal Reserve in a challenging position and whether or not we could hit the magic two-percent inflation rate goal. Will buyers ever get a break in this tough housing market, and could lower interest rates improve things? Daryl shares what she thinks will happen once the Fed finally cuts rates, how low rates could go, and whether or not this will heat home prices up yet again. Some “unusual demand” may come late this year for housing, but will agents, brokers, and sellers see the traditionally hot summer season they’ve been waiting for? We’re answering all these questions and more with this housing market data leader on this BiggerNews episode!  Support today’s show sponsor, Rent App: the free and easy way to collect rent! In This Episode We Cover 2024 housing market and mortgage rate predictions from Redfin’s Chief Economist  How our economy has stayed so stubbornly strong EVEN with rate hikes  Homeowner control and why buyers may be in an even worse position AFTER rates fall Improving housing inventory and what’s contributing the most to more homes on the market Why inflation may NOT need to hit the two-percent target for the Fed to lower rates The “lock-in effect” explained and why more homeowners with low rates could start selling And So Much More! (00:00) Intro (01:38) A Stubbornly Strong Economy (07:03) Housing Is STILL Hot? (13:23) Mortgage Rate Prediction ((18:29) Will Inflation Fall? (20:56) 2024 Predictions (23:53) An Opportunity for Investors Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-971 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Before you start investing in real estate, make sure you hear this episode. Almost every beginner ends up making these five big real estate investing mistakes. Some cost money, some cost time, but all of them cost you peace of mind and push you further away from achieving financial freedom. We’re breaking down these five big mistakes so you can avoid them and start building wealth faster! Dave Meyer and Rob Abasolo are back today to discuss the five common real estate investing mistakes to avoid. From buying bad deals to doing wrong calculations, getting stuck in analysis paralysis, and beyond, even our expert investors have fallen into these beginner traps a few times. However, their previous mistakes could make you money as they share exactly how to avoid these rental property investing pitfalls. If you want to invest in real estate but are stuck, scared that you’ll make the wrong move, jump into today’s episode and take notes. If you can avoid these real estate investing mistakes, you’ll not only end up richer but with far less grey hair than even the most savvy investors. Let’s get into it! In This Episode We Cover The five biggest real estate investing mistakes that beginners make (and YOU can avoid) Why even a profitable rental property can be the “wrong” deal for you  The one thing that most new investors leave out when they’re analyzing real estate deals The “sacrifices” you can make to get the money for your first or next real estate deal  Why you should NOT borrow money to buy your first investment property  The problem with real estate partnerships and why they’re so easy to get wrong An antidote to analysis paralysis that’ll stop you from sitting on the sidelines  And So Much More! (00:00) Intro (01:25) 1. Buying the Wrong Deal (05:57) How to Avoid Bad Deals (07:14) 2. Analyzing Wrong (11:09) 3. “Lacking” Money (23:23) How to Do Partnerships (25:49) 4. Getting “Stuck” (29:01) Escaping Analysis Paralysis (31:12) 5. Doom and Gloom (34:18) Talk to THESE People Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-970 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Your rental properties are sitting vacant—what do you do? Do you sell or lower your rent price to spark some interest? Will reducing your rent open you up to bad tenants? We’re getting into exactly what you should do in this sticky landlording situation, and many others, in this episode of Seeing Greene. This time, we’re sharing wisdom on what to do when you can’t find tenants, how to invest with just $15,000 in 2024, which rental property mortgage to pay off first, and whether to keep or sell your newly renovated rental. As usual, your real estate investing experts, David Greene and Rob Abasolo, are on the show to help answer any investing question you can think of. Our first video submission comes from a new investor who is completing his first BRRRR (buy, rehab, rent, refinance, repeat). With only $15,000 in the bank and a desire to build a real estate portfolio, what’s the BEST way to use such a small amount of cash? Next, a landlord with multiple rentals wants to know which mortgage to pay down first: her primary residence or her other rentals. An out-of-state investor with a vacant property struggles to find a tenant even after lowering his rent price. A medium-term rental owner with a burnt property asks whether to sell or re-rent the property after his insurance-paid renovations are completed. Want to ask David and Rob a question? If so, submit your question here so they can answer it on the next episode of Seeing Greene, or hop on the BiggerPockets forums and ask other investors their take! In This Episode We Cover Struggling to find tenants? What to do if you think your rent price is too high  Building a real estate portfolio with just $15,000 and why you must use the “BRRRR method” Paying off your mortgage early and whether to prioritize loan balance or interest rate when picking which property to pay off The huge danger of using a HELOC (home equity line of credit) to pay off a property What to do after you renovate/rebuild a rental property—keep or sell it? And So Much More! (00:00) Intro (01:24) Build a Portfolio with $15K? (10:43) Which Mortgage to Pay Off First?  (20:22) I Can’t Find Tenants!  (30:00) Sell or Keep Renovated Rental? (35:30) Ask Us Your Question!  Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-969 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to know how to make millions WITHOUT owning real estate? Rental arbitrage is the strategy for you. And maybe you’ve heard about it before, but we promise you’ve never heard anything like this. Today’s guest is bringing in millions of dollars through “guaranteed” rental arbitrage contracts that last YEARS. You heard that right—guaranteed rent for years, often at the highest price on the market. And you don’t need to own a single rental property to try this strategy. So, how do you get started? If you’re looking to make big money with big deals but don’t have the deep pockets to buy a hundred-unit apartment complex, Noble Crawford has what you need. After choosing his wife’s health over his day job, Noble realized he needed an income stream he could depend on—one that wouldn’t be ripped away from him when life’s challenges arose. He learned about Airbnb investing and, by default, rental/Airbnb arbitrage. When the opportunity came for him to house medical students in need, he jumped at the chance and found a seriously lucrative investing avenue. In today’s episode, Noble will walk through exactly what you can do to start making tens of thousands, if not millions, with rental arbitrage. Plus, he’ll share how to get the deeply-desired government contracts that guarantee you top-of-the-market rent for YEARS. In This Episode We Cover How to use “rental arbitrage” to invest in real estate without owning a single property  The lucrative government housing contracts that can make you millions (seriously!) How Noble gets up to $10,000 per month per unit with these lucrative cash flow contracts Crucial first steps to starting your rental arbitrage empire (don’t get these wrong) Exactly where to find and how to get in touch with agencies that are looking for housing  And So Much More! (00:00) Intro (01:23) Cash Flow “Contracts” (04:38) $10,000/Month from ONE Rental? (09:23) Leaving His Job (12:20) Moving from Airbnb to Contracts (18:44) How to Compete for Contracts (26:30) How to Get Started (35:01) Connecting with Agencies (36:53) You NEED This Document Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-968 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Almost overnight, multifamily investing went from red-hot to something not even the most experienced investors would touch. After interest rates went up, rent growth stalled, and apartment supply flooded the market, the apartment investing industry became the ugly duckling of real estate. Owners struggled to get tenants and had huge balloon payments due, and no one was there to save them. But one man predicted that this would happen before anyone else—Brian Burke. After seeing a crash on the horizon, Brian sold off most of his multifamily real estate portfolio and did it at just the right time. Now, he has a new prediction that could make apartment investors very happy. But a market turnaround won’t come quickly, and if you want to ensure you don’t make the same mistakes most multifamily investors made in 2020 - 2022, you’ll need to hear this BiggerNews episode.  In this BiggerNews, Brian walks through everything that went wrong with multifamily real estate, signs it’s time to sell your properties, and some hope on the horizon for 2025 that most investors have no idea about. Support today’s show sponsor, Rent App: the free and easy way to collect rent! In This Episode We Cover A multifamily real estate update and Brian’s buying plans for 2024 and 2025 The “sobering reality” of the perfectly timed “traffic accident” that hit multifamily all at once  Why as soon as you sense “irrational exuberance,” it may be time to sell your real estate  An optimistic prediction from Brian on when multifamily could finally get back on its feet Syndication struggles and what every syndicator/investor should be doing NOW  Why the multifamily oversupply may NOT be a problem in the coming years  And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Property Manager Finder Join BiggerPockets for FREE Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Ask David Your Real Estate Investing Question Dave’s BiggerPockets Profile Dave’s Instagram BiggerPockets’ Instagram Listen to Dave on the “On The Market” Podcast See Dave at BPCON2024 in Cancun! On the Market Podcast 214 – What to Know About “Capital Calls” As Multifamily Syndications Get “Squeezed” w/Brian Burke Book Mentioned in the Show The Hands-Off Investor by Brian Burke Connect with Brian: Brian’s BiggerPockets Profile (00:00) Intro (01:57) "Irrational Exuberance” (08:52) Investors Get Hungry (11:34) Developers Come In (14:34) The Sobering Reality (19:01) Distressed Properties (22:02) Don’t Buy Anything? (23:41) Long-Term Multifamily Predictions (26:30) Syndication Struggles Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-967 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Think you've got a bad real estate deal? We doubt it comes even close to what we’re about to share. Today, the experts are in to talk about bee-infested rental properties, risky flips, “wholetail” failures, and other ways that they’ve lost money with real estate deals gone wrong. Why are we sharing such horrific stories? Because we want YOU to be able to avoid the same fate on your first or next investment property. Take a seat, get some popcorn, and pray that your properties won’t turn out like this… First, Henry Washington from the On the Market podcast shares his recent luxury flip…or should we say, luxury “flop.” This property was poised to make him up to a six-figure profit, but it didn’t work out that way. One simple mistake ruined this real estate deal and forced Henry to slowly pay away all his profits to a hard money lender. Next, our own Rob Absolo talks about the dangers of NOT looking at the comps when doing a “wholetail” deal and how you could easily find yourself with a home worth less than what you put into it. Finally, the deal of all horrible deals comes out…David Greene’s deal. Where do we even start? Permit problems, mold, bee infestations, and NO way out—this short-term rental gone wrong is costing David hundreds of thousands of dollars, and with little light at the end of the tunnel, he may be forced to do something drastic. So, how do YOU avoid these nightmarish real estate deals? Stick around so you know exactly what NOT to do. In This Episode We Cover Three of the worst real estate deals our investing experts have ever done Why not knowing your neighborhood can cost you BIG on your next house flip The danger of hard money loans and the massive interest they come with Why you NEED a partner/mentor in your area to confirm a property’s worth The so-called “landlord-friendly” state that’s actively trying to ruin David Greene  How nosy neighbors can end up costing you hundreds of thousands of dollars  Whether or not our investing experts regret investing in real estate after this  And So Much More! (00:00) Intro (01:24) A Risky Luxury Flip (06:02) Final Numbers and Exit Plans (09:19) Henry’s Mistake (11:14) An Overpriced Wholetail (15:04) Rob’s Mistake (23:23) The City Ruined My Real Estate (32:43) David Lost HOW Much!? (36:19) How to Avoid This (39:07) Do We Regret It? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-966 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Want a quicker way to buy rental properties? One that takes less cash, less time, and is beginner-friendly? Then you’re in the right place! In this Seeing Greene, we’re talking about the “sneaky rental tactic” that can help you build a real estate portfolio in just a few years. And if insurance and property taxes have been eating away all your cash flow, we go through a real-life investor’s situation to determine whether he should hold, fold, or change his real estate strategy. All that, and more, is coming up! Like most investors in America, your property expenses are rising, but rent isn’t climbing at the same rate. What do you do when your cash flow disappears? That’s what our first investor is asking. Then, a house hacker wants to know how to get into his second property and what rules he has to follow to house hack once again. A rent-by-the-room investor gets given an ultimatum by his potential tenant—what should he do? We’ll also discuss the difference between “cheap” and “bad” houses, what to look for in a home inspection, and what to do when guests throw a party at your Airbnb. Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot!  In This Episode We Cover Whether to keep or sell a rental property if it no longer brings in monthly cash flow The “sneaky rental tactic” anyone can use to buy their first (or next) investment property  How many checking accounts you should have for your real estate portfolio Renting-by-the-room and what to do when a tenant has make-or-break demands  The problem with buying “cheap houses” and why we steer clear of them  What we look at in a home inspection report and what you should always ask the inspector  How to stop parties and large gatherings from happening at your Airbnb or short-term rental  And So Much More! (00:00) Intro (01:51) Sell My Low-Cash-Flow Rental? (07:30) The “Sneaky” Rental Tactic (12:55) How Many Checking Accounts? (15:05) Buying “Cheap” Houses (21:50) Home Inspections 101 (27:58) Ask Airbnb Guests for ID? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-965 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

One investment property could change your life, especially if you buy the right one. Logan Koch, an investor in Pittsburgh, Pennsylvania, was buying investment properties for one specific goal: To retire his parents. With a $45,000/year cash flow target in mind, Logan and his parents went to work, finding small multifamily rental properties to buy, fix, and increase rents on. But one day, Logan stumbled across a commercial real estate deal that nobody wanted, one with huge signs of opportunity. In today’s show, Logan lays down step-by-step exactly what he did to find this unwanted and unnoticed commercial real estate investment, how he was able to DOUBLE the cash flow on it, the massive return on investment he’s walking away with, and even how he got the city to lower his property taxes by two-thirds! The best part? None of what Logan did requires expert-level investing knowledge. Anyone, even a complete real estate investing beginner, can follow Logan’s same thought process to find and buy undervalued real estate deals. Do you want to start building some retirement (or early retirement) cash flow for yourself or your parents? These are the exact types of deals you should be on the lookout for! Stick around as we discuss Logan’s almost unbelievable return on this cheap investment property everyone else was overlooking!  In This Episode We Cover Telltale signs that a property’s expenses are WAY too high (and how to lower them significantly) Setting a cash flow retirement goal that’ll allow you to retire (or retire early) on your timeline  How Logan cut his property tax bill on this investment by over sixty percent!  Seller financing and how to get creative when buying commercial real estate  BRRRR-ing a big property and how Logan bought $15,000/year cash flow for just $20,000! And So Much More! (00:00) Intro (01:58) Investing to Retire His Parents (05:50) Small Multifamily, Big Cash Flow (11:42) Finding the Opportunity (19:01) Cutting Property Taxes by 66% (22:22) A 75% Return!? (29:19) The Rental Retirement Plan Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-964 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Real estate investing in 2024 isn’t as easy as a few years ago. When interest rates are low, housing inventory is high, the economy is booming, and everyone’s happy, real estate investors can take considerably more risks with bigger payoffs. But now, only the most savvy investors are finding cash flow, appreciation potential, and wealth-building properties. So, with little hope in sight for lower rates or home prices, how do you ensure you’re building wealth, not getting burnt, in the challenging 2024 housing market? If there’s one person who knows how to invest during tough times, it’s J Scott. He literally wrote the book on recession-proof real estate investing and has flipped, landlorded, and syndicated through booms, busts, and the in-between periods. Today, J is laying down his six rules for real estate investing in 2024, which he’s following himself to ensure his portfolio doesn’t just survive but thrive, no matter what the housing market throws his way. First, we dive into the factors causing such a harsh housing market and whether J thinks home prices will rise, flatten, or crash. Next, J walks through the six rules for real estate investing in 2024. We’ll talk about appreciation potential, rising expenses like insurance and property taxes, the riskiest investing strategies of today, loans that’ll put your real estate deals at risk, and why you MUST start paying attention to your local housing laws.  Support today’s show sponsor, Rent App: the free and easy way to collect rent! In This Episode We Cover The six rules for successful real estate investing in 2024 from a time-tested expert Inflation, interest rates, home values, and why the housing market has significantly slowed down What rising expenses like insurance premiums, property taxes, and labor will do to your rentals The one thing you CAN NOT assume when analyzing real estate deals (big potential mistake) Adjustable-rate mortgages (ARMs) and why J is avoiding these at all costs Rent control, short-term rental regulations, and housing laws that could put your rentals at risk And So Much More! (00:00) Intro (01:30) What Affects the Housing Market? (11:20) 1. Don’t Bet on Appreciation  (15:46) 2. Expect Higher Expenses, Lower Rent (20:37) 3. Know the Risks of Flips  (26:46) 4. Avoid Adjustable-Rate Loans (28:48) 5. Buy What You Can Hold  (33:15) 6. Pay Attention to Local Laws  Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-963 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Want to reach financial freedom faster? The BRRRR method is how you do it. Seriously—the BRRRR strategy is almost too good to be true, which is why so many real estate investors use it as the stepping stone to start building wealth. In short, the BRRRR (buy, rehab, rent, refinance, repeat) method allows you to reuse and recycle your money repeatedly, turning one sum of cash into multiple investment properties or an entire portfolio! This allows you to build your real estate portfolio faster WITHOUT having to wait around to save up tons of capital to invest. But how do you use the BRRRR method to build wealth, passive income, and financial freedom? We’ve got a financially free investor, Dave Meyer, on the show to walk through the three steps of completing a BRRRR real estate deal. From finding the properties to analyzing them for maximum profit potential and refinancing to get your money back out, these are the steps a beginner needs to take to do their first BRRRR deal. Plus, we’ll even show you a tool that runs the numbers for you in just minutes so you can get your first or next investment property even faster! Want to do BRRRR deals like the pros? Sign up for BiggerPockets Pro to unlock unlimited BRRRR calculator usage and access all the elite investor tools by using code “BUYPOD24” at checkout. Plus, you’ll score a sweet discount and over a thousand dollars in bonuses!  In This Episode We Cover The BRRRR method explained and how to use it to “invest on repeat”  Why BRRRR may be one of the best ways to reach financial freedom FAST The risks of the BRRRR method (and easy ways to get around them) How to find perfect properties for the BRRRR method (and Dave’s favorite way to find deals) Analyzing a BRRRR deal from start to finish (in just minutes!) with the BRRRR calculator  How to get funding for your first or next BRRRR deal with these investor-friendly lenders  And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-no-number Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices