717: Seeing Greene: Hoarder Houses and Investing Tips for Late Starters
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 22 January 2023
⏱️ 46 minutes
🧾️ Download transcript
Summary
Hoarder houses, hidden tax benefits, and how to invest when getting a late start—it’s all answered on this episode of Seeing Greene. We’re back, and David has brought some new questions never answered before on the show. This time, we’ll touch on some sticky situations, like creative ways to buy a hoarder house and whether investing in a tricky renovation is even worth the potential equity. We also hear about David’s secret system for getting contractors to always show up on time and get the job done, no matter what!
Not only those topics, but we also have some questions and answers that fluctuate with the market cycles. David will hit on the advantages of flipping vs. BRRRR-ing a property, the best real estate exit strategy to go from active to passive income, and what investors who got a late start can do now to get ahead. This episode has something for EVERY level of investor, from beginners who need to get into their first rental to investors looking to turn their rental properties into lower tax bills. So stick around if you’re investing or trying to invest in 2023!
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:
Flipping vs. BRRRRing and when selling beats holding a home
The best way to start investing that’s easily repeatable and doesn’t require much cash
Dealing with difficult contractors and what you can do to ensure they show up on time every day
Real estate exit strategies and how to sell a rental without suffering a massive tax burden
The hidden real estate tax advantages that most investors overlook
Advice for late starters who want to invest in real estate and whether equity or cash flow is worth chasing
And So Much More!
Links from the Show
Find an Investor-Friendly Real Estate Agent
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
Learn More About the Short-Term Rental Tax “Loophole”
5 Tips to Help Investors Handle Hoarder House Situations
3 Exit Strategies You Need to Have When Investing in Real Estate
Books Mentioned in this Episode
Long-Distance Real Estate Investing by David Greene
Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-717
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Transcript
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| 0:00.0 | This is the Bigger Pockets Podcast. |
| 0:02.0 | Show 717. |
| 0:04.6 | Quit to become a real estate professional |
| 0:07.8 | and in the professional status that will help you're investing |
| 0:11.0 | but you'll also be able to make money through all the different ways |
| 0:13.5 | of real estate investors need services. |
| 0:15.1 | You can become the CPA. |
| 0:16.5 | You become a bookkeeper, become a property manager, become a contractor, |
| 0:19.8 | work in construction, become a consultant, become a real estate agent, |
| 0:23.1 | become a loan officer, become a processor, become a manager |
| 0:25.5 | in one of those companies with so many things that you can do. |
| 0:28.0 | Before people just jump from one to the other and go to an extreme, |
| 0:31.5 | I recommend them looking at the huge space in the middle of that spectrum. |
| 0:35.0 | What's going on everyone? |
| 0:36.0 | This is David Green, your host of the Bigger Pockets Real Estate Podcast here today |
| 0:39.5 | with a seeing green episode for you. |
| 0:42.0 | Green light flashing behind my head. |
| 0:44.5 | Alright everyone, we got a really good show. |
| 0:46.5 | In today's show, if you haven't seen one before, |
| 0:48.5 | I take questions from you, the audience, |
| 0:50.5 | and I answer them for everybody to hear. |
| 0:52.5 | Today we get into some really good stuff, |
... |
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