615: Seeing Greene: Lucrative Lot Splits & Lowering Your Liability as a Landlord
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 29 May 2022
⏱️ 44 minutes
🧾️ Download transcript
Summary
Rental properties come in all shapes and sizes. You may be investing in short-term rentals, long-term rentals, glamping sites, or, maybe you’re trying to help someone else buy a rental property. Regardless of where you choose to hang your hat on the real estate investing spectrum, David Greene probably has a golden nugget of advice for your next purchase, sale, or client.
In this week’s episode of Seeing Greene, David takes questions from investors, agents, wholesalers, and more to help answer some of the most common real estate inquiries. You’ll hear topics such as: whether or not a special use permit will increase property value, when to sell and when to refi a rental property, whether or not each separate short-term rental needs its own LLC, and why David stopped looking for under-market properties and started looking at something else entirely.
Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!
In This Episode We Cover
When to hold a property at a great interest rate and when to sell or refi
What it means to “ethically wholesale” and getting deals while helping a seller
Lot splitting and the implications it could have on your taxes, insurance, and equity
How to succeed in a new market as a real estate agent and dropping “hooks” whenever you can
When to put your property in an LLC and whether or not each rental requires its own
Whether or not landlords are making the housing market unaffordable for average homebuyers
And So Much More!
Links from the Show
Ask David Your Real Estate Investing Question
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Listen to Our “Ethical Wholesaling” Episode with Jamil Damji
Books Mentioned in the Show:
Buy, Rehab, Rent, Refinance, Repeat by David Greene
Long-Distance Real Estate Investing by David Greene
Sold by David Greene
Skill by David Greene
Connect with David:
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-615
See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Transcript
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| 0:00.0 | This is the bigger pockets podcast show 615. |
| 0:06.0 | If you've got two different duplexes that are sitting on their own lot, you've added value to the property. |
| 0:12.0 | You've actually literally created equity out of nothing and value out of nothing. |
| 0:16.0 | You can now refinance them, you can now sell one of them if you want. |
| 0:20.0 | You won't increase your cash flow, so to speak, but you will increase the value of the property. |
| 0:25.0 | And that gives you options. |
| 0:26.0 | Like I said, you could sell one of them and reinvest into something else. |
| 0:29.0 | You could refinance one of them and get the money and put it into something else. |
| 0:33.0 | I would be a bigger proponent of this. |
| 0:35.0 | What's going on my people? This is David Green, your host of the bigger pockets real estate podcast. |
| 0:40.0 | Come into you live! |
| 0:41.0 | Well, it's actually recorded, but it's live when I'm saying this with another seeing green episode of the bigger pockets real estate podcast. |
| 0:48.0 | In these seeing green episodes, we take your questions directly from the bigger pockets community. |
| 0:53.0 | Submit them here for everybody to hear and then I do my best job of answering them. |
| 0:57.0 | The goal of this podcast is to help you see what goes on behind the scenes and get a deeper dive into different questions that people have |
| 1:04.0 | so that you can learn from the experiences of myself as well as others and those that are asking the questions. |
| 1:10.0 | In today's show, we get into some really good stuff. |
| 1:13.0 | We talk about how a special use permit can affect property value, particularly if you want to sell it. |
| 1:18.0 | We talk about how an agent can get started in a new market and crush it if they don't know anybody. |
| 1:23.0 | And we talk about when to subdivide a lot, when to leave it alone, and how to approach it if you're going to subdivide it. |
| 1:29.0 | We get into a lot more stuff regarding different markets you can invest in as well as different strategies. |
| 1:33.0 | So please listen all the way to the end. |
... |
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