535: Keep, Refi, or Sell and Scale? | Live Portfolio Analysis
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 23 November 2021
⏱️ 67 minutes
🧾️ Download transcript
Summary
On today's show: a coaching session with David Greene and the winner of a charity auction at BPCon, Carla Holmes from Yellow Square Properties.
Carla is a long-time investor and rookie to commercial investing. She's been cautious with her real estate investing and never took on debt after she went through foreclosure during The Great Recession. Now, she sits on over a million dollars in equity, spread across multiple properties in the Carolinas. Her recent acquisition is a 4.5-acre commercial property that she’ll convert into a parking lot for big rigs in her area.
Since this is a brand new real estate class she’s entering into, Carla wants to be absolutely sure she’s crossing all her t’s and dotting her i’s. David walks her through a live analysis going over the hurdles, work, expenses, and income that this property will bring in. He also helps Carla debate whether selling, refinancing, or keeping her current properties is best based on her one-year financial independence goal.
In This Episode We Cover:
How to analyze a commercial property from scratch with limited property information
Identifying the drawbacks and new potential income stream opportunities on a property
Why so many frugal investors avoid debt, even if it could be of benefit to them
Why you shouldn’t “hit the cones” when investing in a new real estate class
Thinking multiple steps ahead when making a move in real estate
And So Much More!
Links from the Show
Check the full show notes here: https://www.biggerpockets.com/show535
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Transcript
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| 0:00.0 | This is the bigger Pockets podcast show five thirty five. |
| 0:04.9 | I just want to know from you David am I on the right track? |
| 0:08.7 | Am I crazy for doing this? |
| 0:10.9 | Like what are other things I should be thinking through that might be, |
| 0:15.7 | you know, a better use for the land or something or, you know, |
| 0:18.9 | just trying to want me to touch base with somebody. |
| 0:21.5 | I don't have a partner and I've just ultimately kind of researched this and I'm going it alone. |
| 0:33.8 | What's going on everyone? |
| 0:34.8 | This is David Green your host of the bigger Pockets podcast where we teach you how to build |
| 0:39.9 | wealth through real estate by bringing on top performers, expert investors and just plain regular |
| 0:46.1 | people who have been successful and we lay out the tactics and mindset that you can emulate |
| 0:51.3 | to find financial freedom if you make sure that you take consistent smart action. |
| 0:58.0 | Today's show is going to be a little bit different than a standard show, |
| 1:01.5 | but that's what makes it awesome. |
| 1:03.0 | During BPCon21 we actually auctioned off different coaching spots with different |
| 1:08.4 | bigger pockets personalities where the money went to charity and the winner for my coaching spot |
| 1:14.0 | was Carla Holmes and on today's episode you guys get to see a live look at the coaching call |
| 1:20.2 | between Carla and I where we discuss ways that she can either refinance or sell her current portfolio |
| 1:26.6 | to put the money to good use. |
| 1:28.1 | What strategies she should be implementing for her goal of retiring in 12 months with passive income |
| 1:33.8 | as well as an opportunity that she's working currently that she has under contract, |
| 1:37.4 | which you will hear about soon, but offers a lot of different creative ways to make money |
... |
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