Live Deal Analysis | Sell, Refinance, or Hold? - Episode 24

The David Greene Show

David Greene

Entrepreneurship, Business

5 • 653 Ratings

🗓️ 10 December 2024

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

In today’ deal analysis, Ethan Board brings me his major rehab situation and the various options available to him. We discuss how he spent $85,000 on a remodel, whether he should sell or refinance, and the best way to capitalize on the equity he is creating with each successive BRRRR. Ethan shares details on the portfolio he is creating as well as the challenges he’s facing in doing so and we go over various strategies that will help him make the most of his opportunities. Using strategies out of my new book “Better Than Cash Flow: The Ten Ways You Make Money In Real Estate” I provide some new angles Ethan hadn’t considered and Ethan shares what he’s doing to build wealth in a low priced market where good tenants can be hard to come by. If you’re looking to build momentum creating a portfolio of more affordable rentals, I invite you to be a fly on the wall and receive inspiration from someone who’s doing just that! Subscribe to The David Greene Show! Apple: https://podcasts.apple.com/us/podcast/the-david-greene-show/id1755485708 Spotify: https://open.spotify.com/show/5Nu6kCJTVzM2x2WsujqBOZ Submit your question for David: https://davidgreene24.com/ask 00:06 Ethan's Deal 01:03 Evaluating the Rehab Costs and ARV 04:25 Deciding Between Keeping or Selling the Property 04:53 Analyzing the Financials and Cash Flow 11:22 Considering the Neighborhood and Future Plans 13:01 Ethan's 2nd Deal: A Country Home with Potential 18:59 Understanding Property Appreciation and Cashflow 19:29 Dealing with Property Management Headaches 20:31 Evaluating the Value of Property Management 23:58 Considering the Financial Implications 25:38 Exploring Equity and Cashflow Strategies 27:02 Maximizing Property Value through Renovations 30:08 Building a Real Estate Portfolio 34:45 Financing and Lending Insights 37:36 Wrap Up

Transcript

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0:00.0	Welcome to Real Talk Real Estate, the show where we cover how to build wealth in real estate with no fluff, no BS, and no sales pitches.
0:07.0	I'm David Green, and I've been doing this for over 10 years. I've seen the ups, the downs, and everything in between.
0:13.0	This is the show where we pull back the curtain and show it to you too.
0:16.0	So if you want to build wealth through real estate or you just love learning about it you found your home Ethan board welcome to the David Green Show how are you today good how are you
0:29.6	I'm good man we got a special show it planned here we're going to be talking about a couple
0:34.6	of deals actually that you approach me about looking for some insight on.
0:39.2	I understand that one of them you've actually made some progress on since you originally
0:42.2	reached out. And the other one, you've had a bit of a plot twist. So let's get into this thing.
0:46.3	Tell me about the first deal. What is it? Where did you find it? What kind of problem?
0:49.4	Okay. It's a two-bed, one-bath, single-family home. It was originally my grandmother's house, and then she passed away.
0:58.4	My uncle lived in it, and then he passed away.
1:01.5	And so him and my aunt owned the building.
1:06.2	So the house went in the probate for about two years.
1:09.6	My aunt, I was talking to her. She didn't want
1:12.6	anything to do with the house. So I ended up getting her half of the ownership into my name. And then,
1:18.5	like I said, two years later, we finally got signatures and everything. And I got to purchase the
1:23.9	other half. And so now I own the entire building, a single family home, but it needs some work.
1:29.3	And what I mean by need some work is a total rehab, total gut.
1:33.7	Needs everything.
1:34.7	It needs central heat, air, roof, electrical plumbing, water, everything.
1:39.6	So that's...
1:40.3	Okay.
	...

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