973: Seeing Greene: Retiring Early, ARMs vs. Fixed-Rate Mortgages, & When to Sell

If you want to grow your real estate portfolio faster, make more money with less headache, and achieve whatever financial dreams you desire, you need one thing—a real estate team. Most people don’t realize that the top real estate investors rarely do everything themselves. Instead, they’ve hand-picked real estate investing rockstars to grow their businesses FOR them. We’re talking investor-friendly agents, lenders, contractors, property managers, and more. If you can find the right people to fill those roles, you’ll be able to grow your passive income faster than you thought possible. So, where do you find them? Dave Meyer and Henry Washington are back to give a masterclass on building your real estate team. They’ll walk you through each role—real estate agents, lenders and brokers, insurance agents, property managers, and contractors—describing what to look for, red flags to run from, and exactly where you can find the best of the best in your market. Get this right, and you’re on a fast track to real estate riches, but get it wrong, and you could delay your financial freedom! Ready to build your investor-friendly real estate team? Check out BiggerPockets’ free team-builder to find agents, lenders, and more in your area!  In This Episode We Cover How to build an investor-friendly real estate team from scratch  The sign of a great investor-friendly agent and clear red flags experienced investors notice Why some lenders will lend to you much more easily than others  Why Henry ALWAYS uses an insurance broker (NOT an agent) to find policies  How to incentivize your property manager to make you more money (NOT just collect fees!) A unique way to find quality contractors in your area and how to inspect their work BEFORE you hire them  And So Much More! (00:00) Intro (02:24) Real Estate Agents  (12:15) Lenders and Brokers  (22:08) Insurance  (25:27) Property Managers (34:26) Contractors  (44:07) Where to Find Your Team Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-978 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

Every investor would love some extra cash flow…but at what cost? Does it make sense to go all in on a large down payment so that more money trickles in each month? If you want minimal debt, have no plans to scale, and are confident that your new property will appreciate, perhaps. But if your goal is to buy more rental properties and build your portfolio as quickly as possible, there are much better ways to leverage your cash position. In this Seeing Greene, we help a new investor navigate this exact scenario when buying his first property!   Next, we hear from someone whose earnest money deposit (EMD) is wrapped up in a failed medium-term rental. Should she cut her losses and walk away from the deal or weather the storm until the property can cash flow? Stick around to find out! Finally, we chat with an investor who has gone over his rehab budget and finds himself knee-deep in high-interest credit card debt. David and Rob walk him through the steps that will allow him to consolidate his bad debt and turn a ROUGH situation into MORE rentals! Get a BIG incentive on turnkey rentals from today's show sponsor, Rent to Retirement. Visit them at RentToRetirement.com or text "REI" to 33777!   In This Episode We Cover Whether you should ever force cash flow with a larger down payment The BEST first rental property to buy (and how much money you’ll need) Saving up for ONE property versus buying multiple rentals Creative ways to get out of a BAD deal (and when to ride it out instead!) How to get back in the green after overshooting your rehab budget And So Much More! (00:00) Intro (01:30) Which Rental Should I Buy? (07:34) The Medium-Term Rental Fiasco (15:23) Comment Section Callout (19:06) Help, I’ve Gone OVER Budget! (33:05) Ask Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-977 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

Can you start investing in real estate with just $15,000? Yep, and mobile home investing is how you do it. We know what you’re thinking, “I don’t want to own trailers! I want to invest in “real” houses where the “real” money is at!” That’s what today’s guest John Fedro thought too some twenty years ago when he stumbled into mobile home investing, which, at the time, was even too embarrassing for him to share. But, over the past two decades, this at-first “embarrassing” investment has made him wealthy, and if you follow his lead, it can do the same for you. John has successfully made money with mobile homes in various ways: buying and flipping, wholesaling, renting, and seller financing, the main topic of today’s episode. He provides a masterclass on how to make money buying and selling mobile homes, where you essentially take on the role of the bank. However, it’s crucial to be cautious. Mishandling this could lead you into an ethical gray area and potentially harm your buyer. On the other hand, getting it right can create a win-win situation for both the buyer and seller while making you wealthy.  John shares his whole strategy, plus how he’s getting into deals for $15,000 and often making DOUBLE his money and $400 per month (or more) cash flow per door when he seller finances these properties. If you want a way to get into real estate investing without a ton of cash but with the potential to make a serious return on your money, this may be your winning strategy. In This Episode We Cover The three “levels” of mobile home investing and how much each costs to get into The danger of seller financing the wrong way and how it can hurt your buyer Why you MUST background check EVERYONE you seller-finance a mobile home to One thing that new mobile home investors overlook that can ruin your properties The exit strategies you must know about to avoid losing money on your next deal Whether or not we would invest in mobile homes (and our concerns with seller financing)  And So Much More! (00:00) Intro (02:32) Seller Financing...Mobile Homes? (11:18) Win-Win Seller Financing  (16:52) 3 "Levels" of Mobile Home Investing (22:08) How Much to Invest?  (23:53) Cash Flow and Profit Numbers (26:51) What to Look Out For (32:38) New Investors, Do THIS!  (33:52) Would WE Invest In It? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-976 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

The rental market could finally be returning to stability after a wild past four years. Since 2020, we’ve seen rent prices skyrocket almost overnight, with huge asking price increases for single-family homes, multifamily apartments, and everything in between. But that trend quickly reversed as the fight against inflation began, mortgage rates rose, and would-be homebuyers sat still, not knowing whether to stay renting or search for a home. But, a return to “equilibrium” may be coming soon, and that’s good news for landlords and renters alike. To break it all down, Zumper’s Anthemos Georgiades joins the show to share his team’s latest rent data. Anthemos brings some surprisingly good news for landlords, from new month-over-month rent growth data to consumer preferences shifting to a more renter-focused lifestyle; now may be the moment landlords have been waiting for as renter demand looks promising and rates stay high. We’ll also discuss the inflation lag effect our rental market has caused and how to stay on top of current rent prices.  Has the dream of homeownership died? And if so, how do YOU attract the long-term renters who want to make a home out of your house (while paying YOU rent!)? Stick around for this rental market update every landlord needs to know about. Support today’s show sponsor, Rent App: the free and easy way to collect rent! In This Episode We Cover Rent growth updates and why rents for some units are starting to climb Single-family vs. multifamily demand and which asset is seeing the most strength  Why Anthemos is predicting a return to “equilibrium” for landlords this summer  The massive effect rent has on inflation and how housing shifts the economy  Is the “American Dream” dead? Why young Americans are ditching homeownership Where to find free, up-to-date rent price data so YOU can make the most from your rental  And So Much More! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-975 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 really stand out in your market? A few renter-friendly interior design ideas can make a world of difference, elevating a run-of-the-mill property into one that attracts tenants and guests and stays occupied year-round. Today’s guest has some affordable, do-it-yourself (DIY) design hacks centered around “maximalism,” the design trend you can’t afford to not know about.   Welcome back to the BiggerPockets Real Estate podcast! If you want to boost your property’s value, keep renters happy, and get even MORE cash flow from your portfolio, you’ve come to the right place. Today, interior designer Tay “BeepBoop” Nakamoto joins the show to share some of her most popular rental design tips. Regardless of your investing strategy, whether you own short-term rentals or are flipping houses for a profit, you won’t want to miss out on these enormous value-adds. The best part? They are extremely cost-effective, easy to implement, and, most importantly, reversible!   In this episode, Tay delves into maximalism—the interior design trend that is taking the world by storm in 2024—and shares how you can seamlessly integrate this popular style with your rental properties. She even shares some of the best places to find furniture, décor, and materials, as well as some common pitfalls to avoid when tackling your own home renovation projects! In This Episode We Cover The best renter-friendly, do-it-yourself (DIY) design hacks for rentals How to implement maximalism throughout your rental properties Why you must know your limits when making design changes Where to find budget-friendly furniture and décor for your property How landlords can benefit from keeping up with the latest design trends Common pitfalls to avoid when tackling your own home design projects And So Much More! (00:00) Intro (01:17) What Is Maximalism? (04:31) Fixing Up Her First Home (11:02) Renter-Friendly DIY Projects (20:50) Common Pitfalls & Cosmetic Changes (26:42) How to Implement Maximalism (27:49) Connect with Tay! (28:24) Boost Your Property's Value! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-974 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 retire early? Real estate investing might be your best bet. Looking to boost your cash flow and expand your real estate portfolio, too? In today’s show, we’re sharing how to use home equity to build wealth the RIGHT way, plus the “portfolio architecture” secrets that enable you to retire earlier than you thought. Whether you’ve got one rental or a hundred or are just starting to dig into real estate investing, we’ve got the investing information you need on this Seeing Greene to reach true financial freedom. First, an investor sitting on $300,000 of equity asks what he should do: sell his current rental property and buy more OR convert the single-family home into a multifamily investment. The answer isn’t as clear-cut as you’d think. Next, we discuss whether ARMs (adjustable-rate mortgages) vs. fixed-rate mortgages are your best bet for a lower mortgage rate. Plus, we'll share the five BIG mistakes new real estate investors can make. Finally, David describes “portfolio architecture” to an investor who wants to retire by age fifty. He CAN get it done, and you can, too, IF you follow David’s massive passive income plan!  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 How to retire earlier with rental properties by strategizing your “portfolio architecture” Using home equity to invest and whether you should renovate a property or sell it and buy more rentals  Adjustable-rate mortgages (ARMs) vs. fixed-rate mortgages and the “rate roulette” you could be playing Five real estate investing beginner mistakes you should avoid when using the BiggerPockets Forums  How to explode your cash flow by converting your long-term rental into a short or medium-term rental  And So Much More! (00:00) Intro (01:31) Buy More Rentals or Convert Current One? (07:33) ARM vs. Fixed- Rate Mortgages (16:43) 5 Mistakes New Investors Make (21:08) Portfolio Architecture (Retire Early!) (32:05) Moving “Lazy” Equity (42:09) Note Investing 101 (51:12) Starting a Business (53:50) Ask Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-973 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

What sets apart the wealthy from the wannabes when investing? Knowing how to find real estate deals! You’ll be ahead of ninety-nine percent of investors if you know how to find off-market real estate deals and discounted on-market properties. Today, we’re giving you everything you need to know to find real estate deals in your market, no matter your budget, and even if you have zero real estate investing experience. Henry Washington, co-host of On the Market and author of Real Estate Deal Maker, is on to condense his seven years of investing into simple steps YOU can follow to find undervalued real estate. You’ll learn what a great real estate deal is, how to spot one even if you’ve never invested, why buying right is what REALLY makes you rich, three steps to start finding deals today, and the beginner mistake that’ll stop the deals from coming your way. Plus, Henry even shares the hidden on-market deals ANYONE can find (if they’re up to it). If you follow these steps, you’ll have a steady stream of real estate deals flowing your way. But if you don’t, you could waste years of building wealth waiting for the right deal to fall into your lap. So, are you going to take action or make excuses?  In This Episode We Cover How anyone in any real estate market can find undervalued real estate deals The three steps to finding discounted deals and why most people give up too soon Hidden on-market deals that anyone with a real estate agent can find  The biggest beginner mistake you can’t afford to make (it’ll could cost you…) Why you DON’T need a ton of time and money to start finding off-market real estate And So Much More! (00:00) Intro (02:08) What Makes a Great Deal? (06:34) How You Really Make Money (08:10) 3 Steps to Find Deals  (16:21) Biggest Beginner Mistake  (20:37) Learning From the Best  (23:29) Hidden On-Market Deals (29:09) Most People Won’t Do This  (33:02) Beginner Steps to Take (35:26) Grab Henry’s Book Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-972 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

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