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