917: Seeing Greene: Can I Escape the Rat Race with Just $70K?

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 19 March 2024

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want to escape the rat race? To do so, you’ll need some serious investments. And if you want bigger and better cash flow or appreciation, commercial real estate is the place to start. But how do you find these bigger deals? Sure, it’s easy to log on to your favorite listing website and find a hundred houses to buy, but what about self-storage facilities, multifamily apartments, warehouses, and more? How do you find the BIG deals? On this Seeing Greene, we’re answering crucial investing questions so you can build wealth better and reach financial freedom faster. First, Real Estate Rookie guest Mike Larson calls in to ask how to find off-market commercial real estate deals. If you’ve ever wondered how to invest in commercial real estate, this is the place to start! Next, a BiggerPockets Forum poster asks for the best investment to “escape the nine-to-five rat race.” A short-term rental investor needs to know the best way to invest his home equity. Plus, we discuss why mortgage rates DON’T matter as much as you think they do! 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 jump on a live Q&A and get your question answered on the spot! In This Episode We Cover: How to escape the rat race with real estate investing Commercial real estate investing 101 and where to find off-market commercial deals Commercial funding tips you MUST know before you try to buy a big property How to use your home equity to invest and WHICH type of real estate is your best bet What to do when the chances of refinancing to a lower rate look bleak The truth about high mortgage rates (most investors are WRONG about this) And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Join BiggerPockets for FREE 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 Expand Your Investing Knowledge With the BiggerPockets Books Be a Guest on the BiggerPockets Podcast Hear James On the “On the Market” Podcast David's BiggerPockets Profile David's Instagram James' BiggerPockets Profile James' Instagram BiggerPockets' Instagram Grab David’s Book “Pillars of Wealth” Ask David Your Real Estate Investing Question From $40K Debt to 4 Doors and Six-Figure Net Worth (In 1 Year!) w/Mike Larson Which real estate strategy works best to escape the 9-5 rat race? Connect with Mike Mike's Instagram Check out more resources from this show on https://www.biggerpockets.com/blog/real-estate-917 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. 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 917.
0:05.0	What's going on everyone? This is David Green, your host of the Bigger Pockets Real Estate Podcast,
0:11.0	the show where we arm you with the information that you need to start
0:13.8	building long-term wealth through real estate today.
0:17.2	And I've got a surprise for you.
0:18.4	We've got a seeing green episode.
0:20.8	That's right in today's show, if you've never heard one before. We're going to take questions from you the listener base that sent them into me directly and answer them for everybody to hear in today's show we get into if interest rates justify holding a property that's not performing well or if you
0:35.8	should reinvest that money into better opportunities.
0:38.3	What to do with $70,000 if your job is to escape the rat race and a little back and forth going on in the bigger pockets
0:44.6	forums. What to do when you've got a bunch of equity in a Burr stir, that's a Burr property that's
0:50.2	now a short-term rental, and more. Up first we've got a Flipper wholesaler who is looking
0:54.8	to expand into multi-family and storage. He wants to do all the things and wants to know where he should start.
1:00.5	Most importantly though if you want a chance to ask your question please go to
1:04.3	biggerpox.com slash David where you can submit a question to be featured in the show. If you don't
1:09.6	remember what I just said we also put the link in the description. I love it when you guys listen to me. Thanks so much for so many of your question. Let's kick this thing off.
1:17.2	All right up next we have Mike Larson out of South Carolina. He was featured on episode 275 of the rookie podcast and he's here
1:25.6	joining us on seeing green today Mike what's your question?
1:28.9	What's going on guys? Well first I just want to say thank you for having me. This is truly a ton of value.
1:35.5	So, you know, right now I own a small wholesale
1:39.0	and a flipping business, and I've built up the systems
1:42.0	to, you know, find single family homes.
1:45.0	But I want to start to scale into like storage and multifamily.
	...

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