Should you flip or should you rent properties?

Which is better?

I've been investing in real estate for 21 years, and I say do both.

And in this episode, I'm going to show you how this actually works by talking with an investor

who's successfully flipping and renting properties in today's market in 2024.

We're getting started right now.

Okay. right now. Welcome to the podcast Real Estate Investing with Coach Carson.

I'm your host, Chad Carson.

You can also call me Coach Carson, and this is a show to help you get out of the financial

grind so you can spend your time doing more of what matters.

My guest today is Jonathan Swanson, who is a full-time real estate flipper,

rental property investor, also a real estate agent in Wilmington, North Carolina.

But he has a very particular strategy on how he chooses when to rent a property,

when to flip, down to the locations, the types of property, the age.

I think you're going to really enjoy hearing all the details of how he thinks about this so you can apply it to your own real estate investing. So let's get to my interview with Jonathan. Do you have, if you had to like pick an ideal flip property for yourself, everybody's got different criteria, right? But do you have like a sweet spot where you're like, this is a good flip? I really like

this flip. And I'm going to ask you the follow up question. Like what's a good rental property for you?

A perfect clip where I am in Wilmington, North Carolina in this area. That would be a three bedroom,

two bath brick ranch or a house on a slab that's maybe got a garage on a decent size lot with a fence backyard that's not

too old like less than 30 years old I'd say love I love the specificity so tell me can I can I unpack

some of that like so why why a house less than 30 years old why the brick why why three two just

just because I want this when I'm flipping houses I want to sell what most people are looking for so that's a three, two? Just, just... Because I want to, when I'm flipping houses, I want to sell what most people are looking for. So that's a three-bedroom, two-bath, garage, and a neighborhood. That's not very old. Compared to the downtown houses we have here in the historic district, those are a mess. There's termites, there's rotten wood, they've been renovated three or four times by many different people.

And you have to undo all the other stuff to see what we need to do to put back. And I've done that and I don't want to do that anymore. But mainly because I want to sell what people are buying. I want to appeal to the majority. So when you're selling something, whether you were selling like a shoe or a house or a hat, you know, you have to think about, you have to work it backwards. And so what you're saying is most people want like the median person wants that kind of house. They can have a family. They can work at home. They got a backyard. And but then from a remodeling standpoint, and I'm not as good a flipper as you. I've done a bunch. But one of the things I know is like the older the house gets, you mentioned like you just, you have layers and layers and layers of work that other people have done. I'm doing it. And I guess that uncertainty is really tough when you're flipping houses because your your budget of 50,000 bucks can turn into 100,000 bucks pretty easily. I've done that. So, uh, so age of house, that's one of the big things for you just in terms of like picking the house. It would be a profitable flip, something that you're not going to get in over your head. That's right. So let's go to the rental and I'm going to dig into each one of these. So if you were to find the ideal rental for you, because you do both, what would it be different?

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