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965: Seeing Greene: Insurance and Taxes Killed My Cash Flow, Should I Sell?

965: Seeing Greene: Insurance and Taxes Killed My Cash Flow, Should I Sell?

FromBiggerPockets Real Estate Podcast


965: Seeing Greene: Insurance and Taxes Killed My Cash Flow, Should I Sell?

FromBiggerPockets Real Estate Podcast

ratings:
Length:
42 minutes
Released:
Jun 4, 2024
Format:
Podcast episode

Description

Want a quicker way to buy rental properties? One that takes less cash, less time, and is beginner-friendly? Then you’re in the right place! In this Seeing Greene, we’re talking about the “sneaky rental tactic” that can help you build a real estate portfolio in just a few years. And if insurance and property taxes have been eating away all your cash flow, we go through a real-life investor’s situation to determine whether he should hold, fold, or change his real estate strategy. All that, and more, is coming up!

Like most investors in America, your property expenses are rising, but rent isn’t climbing at the same rate. What do you do when your cash flow disappears? That’s what our first investor is asking. Then, a house hacker wants to know how to get into his second property and what rules he has to follow to house hack once again. A rent-by-the-room investor gets given an ultimatum by his potential tenant—what should he do? We’ll also discuss the difference between “cheap” and “bad” houses, what to look for in a home inspection, and what to do when guests throw a party at your Airbnb.

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 jump on a live Q&A and get your question answered on the spot! 

In This Episode We Cover
Whether to keep or sell a rental property if it no longer brings in monthly cash flow
The “sneaky rental tactic” anyone can use to buy their first (or next) investment property 
How many checking accounts you should have for your real estate portfolio
Renting-by-the-room and what to do when a tenant has make-or-break demands 
The problem with buying “cheap houses” and why we steer clear of them 
What we look at in a home inspection report and what you should always ask the inspector 
How to stop parties and large gatherings from happening at your Airbnb or short-term rental 
And So Much More!

(00:00) Intro
(01:51) Sell My Low-Cash-Flow Rental?
(07:30) The “Sneaky” Rental Tactic
(12:55) How Many Checking Accounts?
(15:05) Buying “Cheap” Houses
(21:50) Home Inspections 101
(27:58) Ask Airbnb Guests for ID?

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-965
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Released:
Jun 4, 2024
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.