750: Seeing Greene: Don't Fall For the "Quick Cash Flow" Properties

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 9 April 2023

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

You want cash flow, but how do you get it in a housing market with high rates and home prices but low inventory? Or, how do you escape the rent cycle and get into real estate investing? Should you buy your first rental before a primary residence? And what financial position do you need to be in to leap into homeownership? When starting your real estate investing journey, questions like these seem to have no end. That’s why we’ve got David Greene, experienced investor, agent, broker, and author, to help guide you to the answers. Welcome back to another Seeing Greene, where your tips, flips, and financial freedom-finding host, David, is here to help you build wealth through real estate investing. We’ve got questions from investors, renters, and homeowners trying to take their first step into the rental property investing world. First, we talk about tenant-friendly states and how house hacking can allow you to dodge many of these harsh landlord laws. Next, we hit on some HELOC (home equity line of credit) questions about when to pay off a HELOC and whether using one to buy a rental is a good idea. Finally, David talks about growing your financial foundation and how to systematize your business, so you AREN’T working sixteen-hour days. All that and more, coming up! 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: Tenant-friendly states and whether they’re still worth investing in How to find “quick” cash flow in today’s real estate market When (and when NOT) to use a HELOC to fund your down payment Buying a primary residence vs. rental property and building your financial foundation When to pay off a line of credit and recycling the funds to buy more rentals Systems you MUST put into place to free up time, do bigger deals, and get more done 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 3 Real Winning Deals in 2023 (and Where You Can Find Them!) Need Lending? Contact David’s Brokerage Books Mentioned in the Show: SCALE by David Greene SOLD by David Greene SKILL by David Greene Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-750 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. 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 seven five zero.
0:04.2	You're trying to find cash flow and what you said was quick or easy cash flow.
0:08.1	That is even harder to find than regular cash flow.
0:11.6	Now, I'm not going to deter you from mail-stay investing,
0:13.8	but what I am going to say is we're going to have to tweak the mindset a little bit here.
0:16.6	You've got to have time on your side in a situation like this,
0:19.2	especially because the deal has to be extra good to not only cash flow,
0:23.0	but to cover the money you're going to spend on the loan when you take it out on the heat lock.
0:26.3	I would probably lean towards house hacking,
0:28.8	but not a situation where you're sharing parts of the house.
0:31.6	Look for something that your family can be okay with where you're renting out
0:34.5	different parts of the property.
0:36.1	And the reason I say that is house hacking is going to allow you to reduce risk more.
0:40.0	Let's go on everyone.
0:40.8	This is David Green.
0:41.6	You are host of the bigger pockets real estate podcast here today with a seeing green episode.
0:46.7	If you're unfamiliar with these, they're a little different than our traditional format,
0:51.2	where we interview a guest on how they built wealth through real estate.
0:54.3	In these shows, I take questions directly from you, our listener base,
0:58.4	as you ask me what I would do if I were in your situation or you seek wisdom
1:02.5	and guidance in the decisions that you have to make.
1:05.2	We have an incredible show for you today, and I know you're going to love it.
	...

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