977: Seeing Greene: Exiting Bad Deals, Going Over Budget, & the BEST First Rental

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 25 June 2024

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Every investor would love some extra cash flow…but at what cost? Does it make sense to go all in on a large down payment so that more money trickles in each month? If you want minimal debt, have no plans to scale, and are confident that your new property will appreciate, perhaps. But if your goal is to buy more rental properties and build your portfolio as quickly as possible, there are much better ways to leverage your cash position. In this Seeing Greene, we help a new investor navigate this exact scenario when buying his first property! Next, we hear from someone whose earnest money deposit (EMD) is wrapped up in a failed medium-term rental. Should she cut her losses and walk away from the deal or weather the storm until the property can cash flow? Stick around to find out! Finally, we chat with an investor who has gone over his rehab budget and finds himself knee-deep in high-interest credit card debt. David and Rob walk him through the steps that will allow him to consolidate his bad debt and turn a ROUGH situation into MORE rentals! Get a BIG incentive on turnkey rentals from today's show sponsor, Rent to Retirement. Visit them at RentToRetirement.com or text "REI" to 33777! In This Episode We Cover Whether you should ever force cash flow with a larger down payment The BEST first rental property to buy (and how much money you’ll need) Saving up for ONE property versus buying multiple rentals Creative ways to get out of a BAD deal (and when to ride it out instead!) How to get back in the green after overshooting your rehab budget And So Much More! (00:00) Intro (01:30) Which Rental Should I Buy? (07:34) The Medium-Term Rental Fiasco (15:23) Comment Section Callout (19:06) Help, I’ve Gone OVER Budget! (33:05) Ask Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-977 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

Click on a timestamp to play from that location

0:00.0	This is the Bigger Pockets Podcast Show 977.
0:09.4	What's up everybody?
0:10.4	Welcome to Seeing Green.
0:11.6	I will be your host David Green and I'm joined by my good
0:14.0	bunny in real estate Rob Abbasolo and if you're listening to this podcast you are part of the
0:19.2	ever-growing and thriving bigger pockets community in today's, we get to connect with community members like you directly
0:24.8	by answering listener questions that everyone can learn from.
0:27.8	I'm David and I brought back up for the show.
0:30.0	What's going on, Rob?
0:31.0	Hello, sir, How you doing?
0:33.0	I'm coming to you six hours ahead of you.
0:35.0	Actually, no, I'm coming to you, I think nine hours ahead of you.
0:38.0	Yeah, where are you?
0:39.0	I'm in Copenhagen, Denmark.
0:41.0	That's right, you are.
0:42.0	And Rob, what were some of your favorite parts of today's show? taken Denmark. That's right, you are.
0:43.0	And Rob, what were some of your favorite parts of today's show?
0:45.0	So we kind of alluded to it here in the intro.
0:48.0	We're talking about how to get out of a bad deal.
0:50.0	We had an interesting MTR fiasco, if you we help talk someone through some of the possible
0:56.4	exit strategies that they might have. Yeah there were a lot of horror stories in today's
1:00.4	show we had the MTR we have somebody who went way over budget on a rehab
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.