675: Seeing Greene: When Does It Make Sense to Refi with High Interest Rates?

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 16 October 2022

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Mortgage rates are up, which is good news for (almost) no one. Those who have built huge equity gains over the past few years now feel like they’re stuck at a crossroads. You could pull a cash-out refinance to buy another investment property, but with such high mortgage rates, is it better to wait out the market? This standoff between buyers, sellers, and the Federal Reserve have many investors confused about the next move to make. Thankfully, our in-the-field investing veteran, David Greene, is here to help. Welcome back to another episode of Seeing Greene, where your host David answers questions on the spot from investors spanning every skill level. We’ve got video and text submissions this week, with topics ranging from whether to wait or buy now, how to push past negativity when you’re struggling to find deals, when to refinance while interest rates rise, asset protection basics, and much more. These in-depth answers from David will probably solve top-of-mind questions you may have too! 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: Whether to buy now or wait for a housing market correction How to get out of a negative mindset when struggling to find deals “Timing” your refinance to get the lowest rate possible (and whether or not it’s worth it) What most investors get wrong about house hack “cash flow” Asset protection basics and if an LLC is necessary for your first rental Self-management vs. property management and when to trade money for time And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Ask David Your Real Estate Investing Question David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Book Mentioned in the Show: Real Estate by the Numbers by Dave Meyer & J Scott Connect with Jonathan Jonathan's BiggerPockets Profile Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-675 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! 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, 675.
0:04.4	One of my like David's philosophies for building wealth is that you don't look for home runs.
0:09.5	You're just trying to get a good pitch to get a hit and every once in a while the
0:13.1	pitcher leaves one out there they make a mistake and that becomes the home run.
0:16.0	I look at real estate very similar. You can't go forse a home run deal.
0:20.2	You can't go make a seller sell you a house at a super good price.
0:24.4	What you can do is look for a lot of base hits in the same deal and that's how I put my portfolio
0:29.2	together. Hey everybody this is David Green. You are host of the Bigger Pockets Real Estate
0:33.1	Podcast here. It's a day with a seeing green episode. If you couldn't tell from the green light
0:37.8	shining from behind my head. Does it look like I have a halo? Do you think Beyonce would include
0:41.9	me in one of her songs? I hope so. In today's episode we take questions from people just like you
0:46.9	that are bigger pockets fans that want to know what they should do in their situation.
0:50.8	Get some clarity on the next best step moving forward or try to figure out how to maximize the
0:55.8	opportunity that they have in front of them and we have some great questions and answers to share
1:00.4	with you today. Just a bit of what you're going to get as you listen to today's show.
1:04.8	Which house hacking strategies work in different markets? We go into some pretty good detail
1:09.5	with different strengths of different markets and what you should be looking for specifically
1:14.1	in a house hack depending which market that you're in. We talk about when you have equity what to do
1:19.0	with it. When a cash out refinance makes sense when a rate and term refinance makes sense
1:23.9	and how you should be spending the equity that you pull out of previous good decisions.
1:28.3	And one of my favorite things to talk about we talked about how to get multiple wins in the same
1:33.0	deal. Personally when I'm showering and I'm trying to figure out how do I help the bigger pockets
	...

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