997: Seeing Greene: Keep or Sell? What to Do When Your Rental Doesn’t Cash Flow

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 30 July 2024

⏱️ 46 minutes

🔗️ Recording | iTunes | RSS

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Summary

Should you move to invest in real estate? Perhaps you’re stranded in a pricey market or an area with unfavorable landlord-tenant laws. Depending on your career, you could earn a HUGE pay bump at your day job and discover a real estate market with higher cash flow and appreciation. In this Seeing Greene, we help a caller navigate this exact scenario and share some of the best markets to invest in right now! Next, we field a question about a rental property that’s producing very little cash flow. What should you do in this situation? Hold, sell, or trade it for another property? David and Rob run the numbers to devise a strategy with a MUCH better cash-on-cash return. Tired of junk mail arriving at your properties? Hear about a few solutions we’re using to curb unwanted mail. Finally, we chat with a live caller who has just inherited a $300,000 property. Which investing strategy will help him capitalize on this opportunity and catapult him toward financial independence? Hang around until the end to find out! 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 Moving to another state to chase your real estate investing dream The BEST states to invest in as a traveling professional in 2024 When to hold, fold, or trade a rental property with LOW cash flow How to stop junk mail from being delivered to your property First steps to take after inheriting an investment property How to identify the best investing strategy for your market And So Much More! Links from the Show Join BiggerPockets for FREE Try Baselane, the All-In-One Financial Platform for Banking, Bookkeeping, Rent Collection, Analytics, and More Buy the Book “The House Hacking Strategy” See David and Rob at BPCON2024 in Cancun! BiggerPockets Real Estate – Seeing Greene Episode 843 (00:00) iNTRO (01:16) Relocating for Real Estate (11:39) How to STOP Junk Mail (14:59) Hold, Fold, or Trade My Rental? (22:46) Inheriting a $300K Property! (34:33) Send Us Your Question! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-997 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 BiggerPockets Podcast Show 997.
0:05.0	What's going on everyone? This is David Green, your host of the BiggerPockets Real State
0:08.5	podcast joined today by my Handsome Dapper, Clever, intelligent, and very humble co-host, Rob Obisolo.
0:16.1	How are you, Rob?
0:17.1	Good, 997, dude, we are three episodes away from episode 1000.
0:21.9	Can you believe it? That's right. Carrying the torch for
0:24.2	everybody who wants to build wealth through real estate and folks you need to know we
0:27.3	could not do the show without you literally because this is a seeing green
0:31.4	episode as you can tell from the green light behind me if you're watching this on YouTube
0:34.9	In today's show we take questions from you our community and answer them directly for everybody else to hear so that we can all learn and grow on this journey that we are taking
0:43.9	together. Today's show is a lot of fun. We have a live call in from an investor who's
0:48.9	trying to figure out what his first step should be after inheriting a property
0:52.0	with almost $300,000 of equity.
0:54.4	We talk about the best states to invest in if you're a traveling professional like a traveling nurse
0:58.7	where we combine low cost of living with high wages and future growth to be expected.
1:03.8	We talk about what to do when tenants are receiving mail from a house that you used to live in,
1:08.8	when to hold them, when to fold them, and when to trade your short-term rental for something
1:12.3	better, and more.
1:14.0	So stay tuned, we've got an awesome show for you.
1:16.7	My name is Scott Yeranio and I'm a big fan of your show.
1:19.3	I'm new to real estate investing and currently don't have any property. I live in Boston but the high prices here are a barrier to entry.
1:26.0	So my wife and I are looking to relocate. I'm a nurse so my job is quite transferable to most markets.
	...

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