993: Seeing Greene: Should I Start Flipping Houses in My Market? (How to Know)

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 23 July 2024

⏱️ 49 minutes

🔗️ Recording | iTunes | RSS

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Summary

Should I pay off my rentals or scale to more doors? Should I start flipping houses in my local but expensive market or go long-distance? When is the time to move from residential to commercial real estate? We’ve got some crucial questions to answer on today’s Seeing Greene as David and Rob tackle the best ways to build wealth and set yourself up for retirement in 2024. Want to reach financial freedom faster? Then, this is the show for you. First, an investor who eagerly wants to retire asks whether he should flip houses in the expensive San Francisco Bay Area or begin in a lower-priced area. Next, when is it time to scale vs. pay off your rental properties? When partnering on a house hack, who’s responsible for what, and how do you split up the finances? Finally, a return caller asks about the pros and cons of residential vs. commercial real estate and whether bigger properties will help him reach his goal of retiring with a sizable rental portfolio. Need answers to your real estate investing question? Head over to the BiggerPockets Forums and ask it! We may choose it for our next show! In This Episode We Cover Where to start flipping houses and whether an expensive market is too risky for rookies When to scale vs. pay off your rental properties (EVEN if they have low interest rates!) Partnering on a house hack and how to split responsibilities/profits when one partner lives in the property Residential vs. commercial real estate and the pros/cons of buying BIG properties When to trade your small rentals for larger properties with better potential And So Much More! Links from the Show Ask Your Question and Network with Investors on the BiggerPockets Forums Join BiggerPockets for FREE Ask David Your Real Estate Investing Question See David and Rob at BPCON2024 in Cancun! Grab the Book “Long-Distance Real Estate Investing” Find Investor-Friendly Lenders Seeing Greene 985 – How to Use Home Equity to Retire, Buy Rentals, or House Hack Money Show 543 – Finance Friday: How the “Middle-Class Trap” Stops Your Early Retirement BiggerPockets Real Estate Podcast 763 – Barbara Corcoran’s Wild Real Estate Tactics You’ll Want to Repeat Seeing Greene 747 – “Amplifying” Your Equity and When to Pay Off Debt vs. Invest Get a BIG incentive on turnkey rentals from today’s show sponsor, Rent to Retirement. Text “REI” to 33777 or visit them here: https://www.renttoretirement.com/ (00:00) Intro (01:14) Should I Start Flipping Houses? (11:37) Scale or Pay Off Properties? (15:46) Partnering on a House Hack? (21:33) Comment Section Callout (24:03) Residential vs. Commercial Real Estate (41:37) Share Your Thoughts! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-993 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 993.
0:04.0	What's going on everyone?
0:06.0	Welcome to the Bigger Pockets Podcast.
0:07.0	I am your host David Green here today with my co-host spazzing out on YouTube.
0:12.0	Rob Abbasola, how's it going, Rob?
0:14.1	Oh, you know, it is warm outside, a tree fell in front of my house,
0:19.1	we're dealing with wreckage here in Houston, Texas,
0:21.4	but I've got a lot to be thankful for because we've got
0:24.8	AC and it's okay. We got no food, we got no booze, and our pets heads are
0:29.6	falling off, but in today's episode of Seeing Green we're going to be answering your questions, not bringing you our problems.
0:36.2	We actually have a really fun show today with lots of laughs and lots of information being shared.
0:41.2	We cover if flipping works in expensive markets like mine in the Bay Area
0:45.0	from a caller who lives in the same city where I'm recording this podcast right now.
0:49.8	How to decide the responsibilities in a partnership and how to structure a house hack.
0:54.4	Whether someone should get into commercial real estate, stay in residential real estate, or
0:58.4	blend the two, and if you've never heard of a cash flow, cast roll, you want to make sure
1:01.5	you listen all the way to the end because you're going to be fascinated by this strategy,
1:05.0	as well as common colloquialisms that are often messed up in the world of finance and real estate.
1:10.0	You're going to laugh, you're going to cry, you're going to learn.
1:12.8	Welcome to seeing green.
1:14.0	All right, our first question today comes from David Maronis in Brentwood.
1:19.0	Ooh, is this to say Brentwood that I am recording in right now,
	...

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