964: Retiring His Parents by Buying Unwanted, Overlooked Real Estate Deals w/Logan Koch

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 3 June 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

One investment property could change your life, especially if you buy the right one. Logan Koch, an investor in Pittsburgh, Pennsylvania, was buying investment properties for one specific goal: To retire his parents. With a $45,000/year cash flow target in mind, Logan and his parents went to work, finding small multifamily rental properties to buy, fix, and increase rents on. But one day, Logan stumbled across a commercial real estate deal that nobody wanted, one with huge signs of opportunity. In today’s show, Logan lays down step-by-step exactly what he did to find this unwanted and unnoticed commercial real estate investment, how he was able to DOUBLE the cash flow on it, the massive return on investment he’s walking away with, and even how he got the city to lower his property taxes by two-thirds! The best part? None of what Logan did requires expert-level investing knowledge. Anyone, even a complete real estate investing beginner, can follow Logan’s same thought process to find and buy undervalued real estate deals. Do you want to start building some retirement (or early retirement) cash flow for yourself or your parents? These are the exact types of deals you should be on the lookout for! Stick around as we discuss Logan’s almost unbelievable return on this cheap investment property everyone else was overlooking! In This Episode We Cover Telltale signs that a property’s expenses are WAY too high (and how to lower them significantly) Setting a cash flow retirement goal that’ll allow you to retire (or retire early) on your timeline How Logan cut his property tax bill on this investment by over sixty percent! Seller financing and how to get creative when buying commercial real estate BRRRR-ing a big property and how Logan bought $15,000/year cash flow for just $20,000! And So Much More! (00:00) Intro (01:58) Investing to Retire His Parents (05:50) Small Multifamily, Big Cash Flow (11:42) Finding the Opportunity (19:01) Cutting Property Taxes by 66% (22:22) A 75% Return!? (29:19) The Rental Retirement Plan Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-964 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	Henry, have you ever passed on a deal that someone else winds up by and just making a ton of money on?
0:07.0	Dude, yes, absolutely. I had a single family home that I was looking at flipping and had it under
0:16.5	contract for a great price and then just couldn't figure out how to make the
0:20.5	numbers work and now somebody's flipping it and making so much money.
0:25.2	It's the worst feeling. I mean I'm happy someone else is doing it but I had something similar.
0:31.8	There was this deal that I thought about doing for like a while and wound up just not pulling the trigger similar to you and someone did a great job with it, made a ton of money on it, but it was literally right next to a deal that I was
0:44.7	self-managing so I just had to go over there and just look at it every day and I was just like so
0:49.6	mad about it every time I had to go look at it.
0:52.6	Hey everyone, welcome to the Bigger Pocket's Real Estate Podcast.
0:58.6	I'm Dave Meyer joined by my friend Henry Washington.
1:05.4	And today we're talking to Logan Koch
1:07.3	about these kinds of deals, a deal that no one else wanted,
1:11.0	but he found a way to make money on.
1:13.7	Absolutely. We're going to get into some of the smart things that Logan looked into to figure
1:18.8	out that this deal could actually work and how Logan got started investing originally.
1:25.5	Personally this deal made me want to look more closely at my property taxes.
1:30.0	I don't know about you but I'm definitely going to do some math here.
1:32.8	Man it takes a lot to make me want to look more at taxes but I do think this conversation
1:40.0	made me do it because he has this amazing tax tactic that doubled his cash flow and
1:46.5	super cool you should all pay attention to this but looking also just has some
1:50.5	really incredible insights is just a super cool story about how he got started and why he is investing in the first place.
1:57.5	So let's bring on Logan. Logan, welcome to the podcast. Thanks for joining us.
	...

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