965: Seeing Greene: Insurance and Taxes Killed My Cash Flow, Should I Sell?

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 4 June 2024

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want a quicker way to buy rental properties? One that takes less cash, less time, and is beginner-friendly? Then you’re in the right place! In this Seeing Greene, we’re talking about the “sneaky rental tactic” that can help you build a real estate portfolio in just a few years. And if insurance and property taxes have been eating away all your cash flow, we go through a real-life investor’s situation to determine whether he should hold, fold, or change his real estate strategy. All that, and more, is coming up! Like most investors in America, your property expenses are rising, but rent isn’t climbing at the same rate. What do you do when your cash flow disappears? That’s what our first investor is asking. Then, a house hacker wants to know how to get into his second property and what rules he has to follow to house hack once again. A rent-by-the-room investor gets given an ultimatum by his potential tenant—what should he do? We’ll also discuss the difference between “cheap” and “bad” houses, what to look for in a home inspection, and what to do when guests throw a party at your Airbnb. 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 Whether to keep or sell a rental property if it no longer brings in monthly cash flow The “sneaky rental tactic” anyone can use to buy their first (or next) investment property How many checking accounts you should have for your real estate portfolio Renting-by-the-room and what to do when a tenant has make-or-break demands The problem with buying “cheap houses” and why we steer clear of them What we look at in a home inspection report and what you should always ask the inspector How to stop parties and large gatherings from happening at your Airbnb or short-term rental And So Much More! (00:00) Intro (01:51) Sell My Low-Cash-Flow Rental? (07:30) The “Sneaky” Rental Tactic (12:55) How Many Checking Accounts? (15:05) Buying “Cheap” Houses (21:50) Home Inspections 101 (27:58) Ask Airbnb Guests for ID? Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-965 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	What's going on everyone? This is David Green, your host of the BiggerPockets Real Estate Podcast here today with a seeing green episode in today's show. We take questioners from you, our listener base, with very specific, intense intense and insightful questions about what
0:14.6	to do in your dilemma and my co-host Rob and I do our very best to help you get through it
0:19.2	so everybody can learn Rob how are you today?
0:21.6	Howdy coming to you from Los Angeles and my first ever short-term rental it's nostalgic
0:26.4	It's decommissioned a little musty, but hey, we're we're here. It feels good to be back is it safe to say that you were going going back back to
0:35.0	Cali Cali? It's safe to say that I'm seeing green if you know what I mean.
0:39.0	I do know what you mean. And that rhymed and guess what else rhymes.
0:41.6	Nothing else in today's episode that was the only time we're going to rhyme and guess what else rhymes nothing else in today's episode that was the
0:43.5	only time we're going to rhyme the entire time lying I just did it right there but other
0:47.3	than that there would be no more rhyming we're actually going to cover a lot of
0:50.3	real estate stuff we're going to talk about cheap houses versus bad houses and how to get
0:54.7	started when you don't have a lot of money. Rent by the room tenant selection issues. What to do when you have a
1:00.0	picky tenant that doesn't want to move in unless you meet their demands.
1:03.6	How to get a second house hack and a third house hack and a fourth house hack as well as what loans are
1:08.2	available to first-time homeowners.
1:10.3	Short-term rental debacles and dilemmas when you have somebody renting your house and they're not taking good care of it.
1:16.4	What you can do to prevent this and more in today's episode.
1:20.0	Up first, we're going to talk about taxes, insurance, and a loss of cash flow, and if you should hold them or you should fold them.
1:26.0	And most importantly, if you want a chance to ask your question, head on over to bigger pockets.
1:30.0	dot com slash David. The link is down in the description below.
1:34.0	Pause this, send us your question, and let's jump in.
1:36.5	And life pro tip, even if we don't answer your question, you can always head on over to
	...

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