92: 2 Real Deals in 2023 That Could Come with Big Red Flags

On The Market

BiggerPockets

Business, News, Education, Investing

4.8 • 859 Ratings

🗓️ 3 April 2023

⏱️ 52 minutes

🔗️ Recording | iTunes | RSS

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Summary

Don’t think you can find cash flow in a high-priced market like Florida? What about doing a fix and flip with today’s rising rates and high-priced renovations? Don’t know if your rental’s zoning could sprout numerous red flags on a sale? We’ve brought some On the Market listeners in live to go over the deals they’re doing in 2023, which concerns they’re coming up with, and how they’re building wealth while battling against the economic tidal wave hitting the housing market. Michael Yi and Matt McMains, two of Henry Washington’s mentees, have been trying to hit home run deals in Florida. Michael was able to lock down an underpriced rental property that has almost unbelievable cash flow but with some zoning red flags that could catch him off guard in a sale. On the Panhandle, Matt is weeks away from closing on an out-of-state flip, but with rates jumping up and property holding time getting pricey, expert flipper James Dainard advises caution when getting into a deal like this. One thing is for sure; there are still plenty of ways to profit with investment properties, EVEN in today’s wild housing market! So stick around, and hear exactly how you should be doing your deals as 2023 unfolds. Want to talk about your real estate deal on the show? Email Kailyn@biggerpockets.com with all the nitty gritty details! In This Episode We Cover The overlooked Florida city that has BIG cash flow potential in 2023 Rental property zoning and how to ensure your designation WON’T ruin a future sale Rental renovation tips and which materials to use for which type of renter Hard money loans and how rising interest rates are making holding costs sky-high When to negotiate your deal (EVEN if your due diligence period is up!) Flipping vs. renting vs. wholesaling, and when to walk away from a deal And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave’s BiggerPockets Profile Dave’s Instagram Henry's BiggerPockets Profile Henry's Instagram Jamil's BiggerPockets Profile Jamil's Instagram Kathy's BiggerPockets Profile Kathy's Instagram James' BiggerPockets Profile James' Instagram Try RentRedi on Your Next Rental Property Connect with Michael & Matt: Michael's BiggerPockets Profile Matt's BiggerPockets Profile Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-92 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	interest rates are sky high in 2023, and buying a rental property means you could get stuck with
0:05.4	an 8, 9, or 10% mortgage rate. But what about a 2.99% rate with rent to retirement? Rent to
0:12.4	retirement has 2.99% seller financing available on turnkey properties. You heard that right. That's a seller
0:19.9	financed 2.99% interest rate with an average
0:23.5	cash flow of over $900 per month. Plus, they've got options where you can put as little as 5%
0:29.9	down with no PMI. As the nation's leading turnkey investment company, rent-to-retirement helps
0:35.4	investors build headache-free, high-cash-flow rental
0:38.2	portfolios. And since their properties are fully turnkey, newly built, or renovated, leased,
0:43.7	and managed, anyone can invest. Even those who aren't into landlording. So what are you waiting
0:48.7	for? This 2.99% rate deal won't last long. To learn more, visit rent-tirement.com. That's rent-t-o-retirement.com.
0:59.1	Or text R-E-I to 33-777-7. Again, text R-EI to 33-777. Wondering where the
1:08.5	Bigger Pockets community gets the best rental property insurance start at
1:12.7	steadily.com. Steadily landlord insurance protects against property damage, loss of rental
1:17.2	income and liability claims. With lightning fast quotes, superior coverage, and a team that
1:21.9	understands real estate investors' unique needs, they've got you covered. Go to steadily.com for an
1:27.2	instant quote now.
1:28.4	Visit biggerpockets.com slash landlord insurance and protect your rentals with Steadily
1:33.0	insurance. Steadily Insurance, founded by landlords for landlords.
1:37.4	Hey, Henry Washington here from the On the Market Pod. You ever get frustrated while
1:40.8	hunting for off market properties? Well, you're not alone. Just ask Alex,
1:47.9	a fellow real estate investor who was in the same boat struggling to find those hidden gems.
1:53.0	Then he discovered Deal Machine. Now, Alex effortlessly locates off-market gems, leveraging deal machines' free unlimited contact data, powered by the robust databases used by 911
	...

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