129: Live-in Flips, Frugality, and Finance with Mindy Jensen

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 2 July 2015

⏱️ 76 minutes

🔗️ Recording | iTunes | RSS

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Summary

On this episode of the BiggerPockets Podcast, we’re going to talk about a unique strategy that combines the power of house flipping with the benefits of home ownership. You’ll meet Mindy Jensen and discover how she uses the “live-in flip” strategy to build wealth through real estate. You’ll also learn how a live-in flipper can save significant money on taxes as well as a discussion on the benefits of doing your own work. Don’t miss this enlightening, and hilarious, episode! In This Episode We Cover: Who Mindy Jensen is Her thoughts on personal finance Frugality, as defined by Mindy A debate on Starbucks (as well as Priuses) and frugality Where she spends her money How Mindy got started in real estate Details on her deals 7% as a steal? The ins and outs of performing a live and flip Getting a real estate license as a means to invest What you should know about For Sale By Owner (FSBO) properties How she advertises her houses The pros and cons of live and flips Why women can and should fix houses The importance of home inspections And SO much more! Links from the Show BiggerPockets Keyword Alerts #AskBP Podcast BiggerPockets Blogs BiggerPockets Forums BP Podcast with Jeff Brown How to “Hack” Your Housing and Get Paid to Live for Free FSBOMadison Zillow Trulia BRRRR Strategy 3 Real Life Examples That Prove the HIGH Cost of Ignorance in Real Estate Want to Make $1,000 or More Per Hour? BiggerPockets Forums: New Member Introduction Books Mentioned in this Show The Book on Flipping Houses by J. Scott The Book on Investing with No Money Down by Brandon Turner The Snowball: Warren Buffett and the Business of Life by Alice Schroeder The Warren Buffett Way by Robert G. Hagstrom The Richest Man in Babylon by George S. Clason Tweetable Topics: “Frugality is save money where you can, so you can spend it where you want to or where you need to.” (Tweet This!) “I didn’t get my license to sell houses. I got it so that I could invest and have access to MLS.” (Tweet This!) “Nobody likes your house more than you.” (Tweet This!) Connect with Mindy Mindy’s BiggerPockets Profile Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the BiggerPockets Podcast, Show 129.
0:05.0	Well, real estate is, it's never going to end.
0:10.0	People always need a place to live.
0:11.0	You're listening to BiggerP, simplifying real estate for investors
0:16.0	large and small.
0:18.0	If you're here looking to learn about real estate investing without all the height, you're in the
0:22.2	right place. Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com.
0:29.0	Your home for real estate investing online.
0:32.0	What's going on everybody? This is Josh Dorkin. home for real estate investing online.
0:32.6	What's going on everybody?
0:33.6	This is Josh Dorkin, host to the BiggerPockets
0:36.4	podcast here with my co-host, Mr. Brandon Turner.
0:40.5	What up, Brandon?
0:41.4	For once, now I get to be the one to say, good to have you back, Josh, Mr.
0:45.4	traveling all around the country, not being around. Yeah, good to have you back in.
0:49.6	Yeah. I was gone. I was gone for a week.
0:54.4	That was like a lifetime for me.
0:55.8	I missed you, buddy.
0:56.7	It was like a lifetime for me, but I looked in the calendar
0:59.4	and you're gone like, you know, two out of the next two days a week for the next like six months.
1:04.4	I'm gone pretty much continually.
1:05.9	Yeah, but yeah I was I was gone man took the family to New York and that was exciting got to see the Statue of Liberty, Ellis Island, FAA Schwartz, Central Park.
	...

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