765: Seeing Greene: Out-of-State Mistakes, “Low Risk” Real Estate, & False Cash Flow
Real estate investing was never meant to be easy, but there are a few ways you can get started without putting a ton of your money or time at risk. Most real estate investors go gung-ho from the start, buying as many cheap rental properties as possible, only later to realize their mistake. But here’s the thing; you don’t need to invest in sketchy markets or buy dirt-cheap rentals to make money, you just need a bit of creativity if you want to get ahead.
On this episode of Seeing Greene, we’re taking you through a plethora of investing strategies. We talk about how to invest in real estate when at the tail end of your career, whether to convert your garage into a rental or buy an out-of-state investment, the true cost of holding onto a risky rental property, and why your “cash flow” numbers probably aren’t what they seem. And, if you’re a young investor thinking of skipping college to dive head-first into real estate, you may want to hear David’s advice before you make that move.
Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can hop on a live Q&A and get your question answered on the spot!
In This Episode We Cover:
House hacking in an expensive market vs. buying an out-of-state rental
Garage conversions and the surprising profits of turning storage space into a rental unit
Going to college vs. becoming an agent and why you don’t have to choose between the two
The low-risk way to begin real estate investing (even if you’re starting late!)
How many bank accounts you REALLY need when running a rental portfolio
When to give up on a risky rental property that has high expenses
1031 exchanges explained and how to dodge taxes when buying a new property
And So Much More!
Links from the Show
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Out-of-State Investing: The Good and the Bad
Book Mentioned in the Show:
Long-Distance Real Estate Investing by David Greene
The Multifamily Millionaire Volume I by Brandon Turner & Brian Murray
The Multifamily Millionaire Volume II by Brandon Turner & Brian Murray
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-765
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