Can You Still Find On-Market, Cash Flowing Rentals in 2024? (We Found Some)

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Investing, Business

4.8 • 16.6K Ratings

🗓️ 6 November 2024

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

Can you invest in real estate with just $75,000? And not only invest but can you find cash-flowing rentals in solid markets with long-term profit potential without spending six figures? Yes, to both. Today, we’re proving it’s more than possible because we’re finding on-market rental properties for sale that can be bought, renovated, and rented with a $75,000 (or less) investment. These are LIVE deals, meaning you could make an offer on them right after this podcast airs (seriously!). To help us out, Dave asked fellow investors Ashley Kehr and Henry Washington to bring a deal to the show that: 1. Has an all-in cost of $75,000 or less 2. Is on-market (on the MLS) 3. Isn’t a house hack (you don’t have to live in the property). Dave found his own deal and brought it along, too. So today, we’re sharing three actual deals in three solid real estate markets, all that you can invest in with $75,000 or less. We found rental properties that not only cash flow hundreds of dollars a month but come close to (or beat) the 1% rule, AND one is already renovated, meaning you just need to find renters, and you’re already making money. Don’t let the naysayers fool you—this is PROOF you can find good rental properties even in 2024. In This Episode We Cover: How to invest $75,000 in real estate if you want cash-flowing rental properties Three distinct real estate markets that all offer below-average rental property prices How much to keep in cash reserves for your first investment property “Value-add” potential you can spot that’ll help you boost equity in your property The one cost that you really need to check before you buy in a new market Key indicators that point to a real estate market growing (or slowing) And So Much More! Links from the Show Join BiggerPockets for FREE Let Us Know What You Thought of the Show! Invest in Turnkey Properties with REI Nation Grab Henry’s New Book, “Real Estate Deal Maker” Find an Investor-Friendly Agent in Your Area Top 10 Real Estate Markets for Cash Flow in 2024 Connect with Ashley Connect with Henry Connect with Dave Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1040 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	Despite what you hear, you can find great deals on the market all across the country right now.
0:06.6	And today, we're going to prove it.
0:13.5	Hey, everyone, it's Dave. And today's show is a simple challenge. I am joined by Henry Washington and Ashley Care, and I've asked each of them to
0:22.7	find one deal that they would actually do right now, or consider right now, on the MLS if they had
0:28.5	$75,000 to invest. Hey, Ashley, thanks for joining us again. Yes, Dave, thanks for having me. And Henry,
0:36.7	always good to have you back. What's up,
0:38.4	buddy? Glad to be here. I love doing the shows, the three of us. I feel like it's always supposed
0:42.1	to be research and we just turn it into a competition. So I'm looking forward to competing
0:47.1	with you two to find the best deal on the market right now. And the reason we're doing the show is that
0:52.4	I think a lot of people may hear or think that finding solid investment properties right now. And the reason we're doing the show is that I think a lot of people may hear or think
0:55.0	that finding solid investment properties right now, you need to pound the pavement for off-market
1:00.7	deals or you need to start with hundreds of thousands of dollars. Both of those are good things to
1:05.5	have. But they're not the only ways to get started and not even the ways I necessarily
1:10.4	recommend for most people.
1:12.3	So let's talk about some real deals that we found.
1:15.6	The parameters for this challenge was to start with a hypothetical $75,000.
1:21.8	We had to find deals that were on the MLS and we had to account for things like closing costs, cash reserves, and maybe if you
1:28.8	were going to do a renovation in your deal, you have to account for that too. And we also, because
1:33.7	we talk about house hacking frequently on the show, decided that this could not be a house hack.
1:38.8	So let's jump into the deals, Ashley. I'll start with you. How did you go about this challenge? Where did your thinking and
1:46.1	research start? Yeah, so I took the rookie mindset of I want kind of low risk if this was my first
1:52.7	deal and some kind of security safety net. So I looked within my market. So, you know,
	...

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