759: Seeing Greene: The ONE Factor That'll Make or Break Your Rental Property

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 30 April 2023

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

A rental property doesn’t need to be brand new, have the best amenities, or offer 24/7 property management to do well. An older home can out-cash-flow a new build with one specific factor. So, what is THE key to having a profitable rental property, and why do so many rookie real estate investors not pay attention to it? Tune in, and find out on this week’s episode of Seeing Greene! We’re back with your “I finally remembered to turn on the green light!” host, David Greene. This time around, David is taking questions from all levels of real estate investors. Questions like what to do when your HELOC (home equity line of credit) rate is about to skyrocket, how fast to scale your rental portfolio, whether new homes are worth it as rentals, and how to turn a couple of rental properties into a real estate retirement plan. We even get a quick cameo from tax expert Tom Wheelwright on how to avoid taxes the next time you’re selling a rental! 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: The SINGLE most crucial rental property factor that investors often overlook What to do when mortgage rates rise and your HELOC rate is about to readjust Scaling your real estate portfolio and when you’re going TOO big How to AVOID taxes when you sell a rental (and what to do if you’ve already sold) New homes vs. existing inventory and whether a new build makes a better rental How to build a retirement plan with only a couple of rental properties Pulling profits from a rental property in a trust (and the implications of doing so) And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent Lender Finder 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 Why the BRRRR Method WON’T Be the Same in 2023 Rich Dad’s CPA on How ANY Investor Can Avoid Taxes in 2022 8 Ways to Use Rental Properties to Create Retirement Income Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-759 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 759.
0:04.4	All things being equal, it is absolutely better to buy a new home that it is to buy a resale.
0:09.3	But all things are usually not equal. In any market, they typically build homes
0:15.3	in the most desirable areas first. So after they've built on the best
0:20.7	plan, they then go to slowly inferior land as the construction develops. Location will always
0:27.1	be the most important rule of real estate. The only thing that you cannot improve or change
0:32.0	about a house is where it is. What's going on, everyone? Glad that you're here. This is me,
0:38.3	David Green. You are host of the bigger pockets real estate podcast here today with a silky smooth
0:43.4	scene green show. If you haven't heard one of these before, there are variation of the
0:47.9	podcast where I take questions from you, our listener, and I answer them directly so everybody
0:53.4	else can hear giving financial advice, real estate help, guidance, encouragement, support,
0:58.4	even a little bit of chastisement if you need it. Whatever it is to get you over that hump
1:02.3	and into building wealth through real estate. In today's show, we talk about several wealth
1:08.0	building strategies and ideas, including what to think through when a family member leaves your
1:13.5	property. If you should buy a new home and make it a rental, if the numbers work, or if you
1:18.6	should stick with resales, and how to evaluate a bigger opportunity versus keeping the great
1:23.3	interest rate that you have, all questions that are on people's minds everywhere with the shifting
1:28.4	economy that we are going through all for your listening enjoyment. Before we get to our first
1:32.8	question today's quick tip brought to you by Batman. What is something hard that you can go do
1:39.6	today? Can you disrupt your comfort zone? I just want you to start small and put big intention
1:46.2	behind making a change towards tomorrow. Don't let your brain tell you you need to go do something
1:51.1	huge. You got to build momentum to get to something huge. Can you take a short run? Can you eat a
	...

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