585: Seeing Greene: Boosting Your Appraisal, Backward BRRRRs, & Capital Raising Risks

BiggerPockets Real Estate Podcast

BiggerPockets

Investing, Education, Business

4.8 • 16.6K Ratings

🗓️ 20 March 2022

⏱️ 55 minutes

🔗️ Recording | iTunes | RSS

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Summary

BRRRRs, property classes, raising capital questions and more are in this episode of Seeing Greene! As always, your investor mentor, top agent, and shiny-headed host of the BiggerPockets Podcast is back to walk through real-life questions and examples brought to him directly from listeners just like you. This episode walks through a lot of the struggles new and intermediate investors have when trying to scale. So even if you’ve got one unit (or none), you’re probably in one of our guest’s positions. Investors all over the country are enjoying the spoils of this hot real estate market and need to know the next best move to make. In today’s show, David touches on topics like how to scale when you feel overleveraged, the four hurdles that stop investors from building portfolios, how to tell whether a rental is an a, b, or c-class property, whether or not to raise money on your first big deal, and why every BRRRR needs to start backwards. If you heard a question that resonated with you or you’d like David to go more into detail on a certain topic, submit your question here so David can answer it on the next episode of Seeing Greene. Or, follow David on Instagram to see when he’s going live so you can hop on a live Q&A with the bald builder of wealth himself! In This Episode We Cover: The four things that slow investors down when building their real estate portfolio How to know your “property’s personality” so you can get better tenants and equity gain Defining property classes and what to do if a property and neighborhood class mix Selling off your rental properties to buy bigger deals vs. raising private capital Why real estate is easy in theory but difficult in practice The single best strategy for every new real estate investor to start with And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Rent Estimator BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore Submit Your Questions to David Greene BiggerPockets Podcast 569: Rich Dad’s CPA Shares 5 Steps to Eliminate Income Taxes through Real Estate w/Tom Wheelwright BiggerPockets Podcast 534: Seeing Greene: Should I Buy Now or Wait for a Market Cool-Off? BiggerPockets Podcast 513: Seeing Greene: BRRRR 101 – Loans, Deals, & Cash Flow — BiggerPockets Podcast 501: Seeing Greene: How Soon Can I Refi? + 11 Other Real Estate Questions BiggerPockets Podcast 558: Seeing Greene: Cash Flow—The Most Overrated Metric in Real Estate? BiggerPockets Podcast 567: Seeing Greene: Finding Cash Flow, Refinancing Sooner, & NNN Properties BiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Dea BiggerPockets Podcast 582: Seeing Greene: Investing in Paradise, Timing the Market, and House Hacking David Greene Team Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-585 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the bigger pockets podcast show 585 when you want to burr start with knowing what's going to
0:08.4	affect the value. The lender who's going to be doing the refinance is going to be the one who
0:12.9	understands how that works. So you want to talk to your representative, whether it's a direct lender
0:17.7	or it's a broker like us that finds you one, ask them, hey, which way should I go and then
0:23.5	develop your strategy based off of what they've said. If you don't like what they say, well,
0:26.9	then look for another loan officer, another lender, another whatever person that's going to finance
0:31.3	is and create a different strategy. What's going on everyone is David Green, your host of the
0:38.9	bigger pockets real estate podcast here with a seeing green episode on these episodes. We get questions
0:45.4	directly from our listener base you and we answer them for everybody to hear. So we have
0:51.2	several really cool questions that come up today. We talk about financing and what type of loan
0:55.3	would be appropriate for the right type of property. We talk about scaling. That's one of my favorite
0:59.4	questions that we get into today is how do I scale without burning out or without making mistakes
1:04.6	or without taking on too much risk or without leaving me on the bone. Can I be going faster and
1:08.6	I'm not going fast enough. We talk about if we should be raising money from people and what point
1:14.3	that actually becomes relevant. And then I threw in my two cents about the way that I raise money in
1:18.9	my philosophy behind the responsibility that we have and we're borrowing people's money that frankly
1:24.3	doesn't get spoken about enough. And then we talk a little bit about how real estate sometimes
1:29.9	when you're talking about it, it seems so simple and easy. Is there a should it be harder? Should we
1:35.2	be making it harder? Are we overthinking or are we under thinking? So we tackle a lot of the really
1:40.4	common questions that people ask many of them when people are getting started, but we also get into
1:44.3	some higher level stuff. Today's quick tip. We want to do more live shows. So I love being able to
1:50.2	answer video questions like this. The problem is sometimes I have to speculate as to what the
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