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BiggerPockets Real Estate Podcast

860: How I Made $50K in 6 Weeks in an “Extremely Competitive” Market

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.816.5K Ratings

🗓️ 20 December 2023

⏱️ 32 minutes

🧾️ Download transcript

Summary

Do you want to make $50,000 in six weeks? Even in this housing market, it’s more than possible. You might think we’re bluffing; with high mortgage rates, little-to-no inventory, and buyer demand down from its peak, most real estate investors believe the market is a graveyard, but they’re wrong. In today’s show, we talk to Mike Cappello, who has been doing a few quick house flips and making an unbelievable return. But that’s not all. We’ll also talk to the agent who found the deal, Rob Chevez, about what’s making the most money in the “extremely competitive” market of Washington, D.C. The duo will discuss why D.C. is such a solid market to buy, hold, or flip in, the “buy box” they designed to find the most profitable house flips, and how they’re financing deals EVEN with today’s sky-high interest rates. We’ll also get into the nitty gritty of Mike’s latest deal, the one that could make him $50,000 in just six weeks, and the exact steps to follow if YOU want to do a deal like this in your market. The real estate deals are here; stick around to learn how to find ‘em! In This Episode We Cover How to make $50,000 in just six weeks by doing quick, cosmetic house flips The effect of high mortgage rates on investors and why there is still PLENTY of demand for properties Building your “buy box” so you can land a killer deal as soon as it comes across your desk The pros and cons of investing in a super competitive housing market like Washington, D.C. The biggest mistakes house flippers make in a real estate market like today’s And So Much More! Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-860 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

Welcome to the Bigger Pocket's Real Estate Podcast, episode 860.

0:05.0

Today we're doing something a bit unique.

0:07.5

My good friend David and I are actually going to be splitting up and bringing you two separate interviews.

0:12.0

Each episode is going to feature a boots on the ground investor

0:14.9

and real estate agent who are doing deals in today's market.

0:18.6

That's right, doing deals in the ominous 2023 market.

0:22.1

Ooh.

0:23.0

We're going to hear from Mike an investor in the Washington, D.C. area

0:26.0

who's making a profit flipping properties,

0:28.0

which is really interesting actually because flipping properties

0:31.0

is a very risky strategy in today's market so we're

0:33.9

going to walk through one of Mike's deals and discuss what best practices and strategies he's

0:37.8

using to make these deals pencil out aka what is he doing to not lose money on his flips?

0:43.2

You're going to also be hearing from Mike's real estate agent, Rob Chavez.

0:46.6

He's going to discuss market conditions, sourcing this deal in the process of working with

0:50.6

real estate investors.

0:51.8

Rob is actually one of the featured agents on the

0:54.0

BiggerPockets Agent Finder. This tool helps investors like you find real estate agents that are

0:58.3

trained in the world of investing in their specific market. So visit BiggerPockets.com

1:03.4

S. Agent Finder to learn more. And by the way if you want to listen to my

1:06.2

partner in crime David Green's solo episode then you're going to want to be on

1:09.6

the lookout for the next episode coming out later this week. Without further ado, let's bring in Mike and Rob.

...

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