735: Seeing Greene: Rental Property Deal-Breakers That Could Kill Your Cash Flow

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 5 March 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Which rental property “deal-breakers” could kill your cash flow? When is the right time to stop saving and start investing? And what should you do once you’ve hit your passive income goals? These are all questions that everyday real estate investors like you are asking, and on this episode of Seeing Greene, David will provide all the answers you need. So whether you’re just getting started, questioning when to invest, or ready to retire early but don’t want to regret the decision, this is the episode for you! David Greene, your expert investor, agent, broker, and podcast host, can help you reach your wealth-building goals faster than ever. This time, David outlines the three pillars of saving and investing and how following this simple guideline can stop you from losing all your wealth in one fell swoop. Next, we debate whether or not paying off a rental property makes sense in today’s unstable interest rate environment and how inflation is making real estate investing more challenging than ever before. Finally, we touch on rental property “deal-breakers” and what your agent should tell you before you buy a deal. 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: Saving vs. investing and when it’s time to pull the trigger on a rental property The three pillars of money management and why you ALWAYS need emergency reserves Paying off your rental property and what to do with six figures in yearly cash flow Inflation, rising prices, and how intelligent investing protects you against an environment of easy money Unpermitted renovations and whether or not a deal is worth it with one Real estate agent red flags and what to do if your agent isn’t looking out for your best interest Negotiating through agents and how to get your point across when talking through middlemen And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 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 David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David BiggerPockets Podcast 674 with Ashley Hamilton BiggerPockets Podcast 353 with Tim Rhode BiggerPockets Podcast 717 Should I Pay Off My Mortgage Or Invest In Another Property? Book Mentioned in the Show Long-Distance Real Estate Investing by David Greene Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-735 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, 735.
0:04.6	The reality is, every property I've ever seen in my career is not up to code.
0:11.5	Okay, most cities in the Bay Area where I live require you to get permits if you change
0:16.5	the flooring, if you change the faucet, if you change your landscaping in the yard.
0:21.8	If you actually look at what the city requires you to get permits for, it's everything.
0:27.2	Even homes that are built, the new home construction are not up to code with every single thing.
0:31.7	Now that does not mean it's okay to not get permits.
0:35.2	It just means it's not a deal breaker immediately because something isn't permitted.
0:40.1	What's going on everyone?
0:41.1	My name is David Green and if you don't know, now you know this is the best, the biggest
0:45.5	and the baddest real estate podcast on the planet and we are here to talk with you.
0:50.6	In today's episode, a seeing green style show I take questions from you, the bigger pockets community
0:56.2	and I answer them for everyone to hear and boy, is it fun?
1:00.1	We get into some tough stuff that doesn't get asked very often and I had a very fun time answering
1:05.4	some challenging questions. These included topics like how much of the money that I am making
1:11.0	and saving should I be investing? Is there a formula that I should be following?
1:14.8	Should I pay off the existing properties that I have right now or should I continue to expand?
1:19.2	I'm not sure what the right road is for me and I'm buying a property but it's not all permitted.
1:24.9	Should I go forward with it or should I not? How do I know what to make of this?
1:28.4	All that and more on today's show.
1:30.8	And just a quick word from today's show sponsors.
1:34.2	You did it. You're an investor. Feels good to be building wealth, doesn't it?
	...

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