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How to Turn 1 Rental Property into MANY (The Right Way)

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BiggerPockets

BiggerPockets

Күн бұрын

Episode #825
Have a rental property? What if you could use it to buy even more rentals, build your real estate portfolio, and have a steady stream of passive income flowing into your bank account? On today’s Seeing Greene, one viewer is asking exactly how to do that, and while his strategy could work, it may not be the best move with mortgage rates so high and deal flow so low. So, what would David do instead?
It’s Sunday, so we’re taking listener questions directly from rookies, veteran investors, and those wanting to retire early. In this episode, David pokes holes in the “cash-out refinance to buy a new property” strategy. We also hear from two late starters who want to get a jump on their retirement, a burnt-out property manager looking for the best way to scale, an equity-heavy investor who’s debating buying a rental or lending out his money, and a reviewer who was scammed by the real estate “gurus.”
Want to ask David a question? If so, submit your question here (www.biggerpock...) 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!
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Show notes at: www.biggerpock...
00:00 Intro
02:15 Quick Tip
09:56 How to Retire Early with Rentals
15:01 How to Scale Your Real Estate Business
21:39 Questions from The Comment Section
33:07 DON'T Quit Your Job
38:26 Private Lending vs. Buying Rentals
45:11 Ask David Your Question!

Пікірлер: 77
@robertwolf5330
@robertwolf5330 6 ай бұрын
Get a HELOC on the paid off property then use it as the capital resource to buy the new cash flowing property by using the BRRRR strategy to restore the HELOC when you refinance it.
@bigmike8981
@bigmike8981 10 ай бұрын
David knows how to tell you the truth and give you the tough conversation NOBODY wants to have with you! bravo my man...
@markslayton5042
@markslayton5042 8 ай бұрын
Generally, people with a terminal illness do not want to spend the remainder of their time managing construction projects.
@JevonMusicGroup
@JevonMusicGroup 10 ай бұрын
I have grown to love my half hour drive to church every Sunday... thanks to your videos! I learn so much each week.
@leoliu5789
@leoliu5789 5 ай бұрын
Among all the questions, the last one stands out as particularly valuable. It prompts a thoughtful evaluation of different strategies, offering a mindset crucial for effective decision-making. Thank you for addressing it!
@ongaga9
@ongaga9 10 ай бұрын
I really appreciate you. You are keeping it so real. It's easy to listen mult times in a week / see success stories and want to replicate the success immediately. When you set your listeners up with expectations, it keeps ME very happy/content.
@TJ-th9hw
@TJ-th9hw 24 күн бұрын
Superb questions and answers to this “Seeing Green”. Thanks David!
@adavidovich
@adavidovich 10 ай бұрын
Thanks for regularly creating great free content! I’ve found a lot of useful information just by listening to you guys. Also love the tools that are made available with the pro membership.
@Dio2a
@Dio2a 9 ай бұрын
⚠️THANK YOU for answering comments by viewers and actually deciding to pick good questions that most are curious about ⚠️ 🙏🏽 please keep the helpful answers coming from picking good comments to discuss
@TJ-th9hw
@TJ-th9hw 10 ай бұрын
Awesome “Seeing Green” episode as always! Thank you for providing great answers to great questions.
@jadpratt
@jadpratt 10 ай бұрын
Just pre-ordered! I’m excited to read this. I devoured “Choose FI” a few years ago. Now, I’m excited to read a book that is focused more on the making money-side and the power of real estate as a means of retirement income. Just bought my first STR this year and hoping to add 1-2 more per year going forward!
@Nonamevisibleinvisible
@Nonamevisibleinvisible 10 ай бұрын
Thank you David for all that you do ! Your podcasts share immense knowledge and provide courage to take the steps necessary . I wish i knew about bigger pockets during COVID time ,i could have started early :) . But better than not buying ever. Thank you for your guidance !
@SoulInspiredSeller
@SoulInspiredSeller 10 ай бұрын
Oh Deborah! 🤦🏻‍♀️ The only people I listen to is those on Bigger Pockets and Thach Nguyen. I drown out all the other noise.
@maxyemets8233
@maxyemets8233 10 ай бұрын
I wouldn’t touch that mil in cash. Park it in bonds and hammer $40,000 a year interest while you look for opportunities.
@DanKohan
@DanKohan 10 ай бұрын
Hey Gregory! It's awesome to hear your story about making money from your short-term rentals. You mentioned inheriting some money, and it's smart to use it to make more money and secure your family's future. Investing in homes that need a bit of fixing up or even considering buying houses that need work and then selling them at a profit could be a great way to go.
@cvzphotography
@cvzphotography 8 ай бұрын
Love the new honest content. When I first subbed to this channel years ago I feel like you would have told the first guy to refi and brrrr 5 new properties.
@TheTS42
@TheTS42 10 ай бұрын
Never ever get rid of the batman quick tip
@selamawithailu55
@selamawithailu55 10 ай бұрын
Am watching from Ethiopia and I will apply everything you guys teach me thanks!
@owelg6963
@owelg6963 10 ай бұрын
David, is building a fourplex and house hack a good idea at this time of high mortgage interest and high land price? How much per square foot is considered reasonable to build? Don’t care if it’s not cash flowing initially. Thanks!
@johnnyb33good21
@johnnyb33good21 10 ай бұрын
Reach out to a local general contractor that has experience with building small multifamily in your specific market.
@kaliterry383
@kaliterry383 9 ай бұрын
$150/sf is a good gauge. Not sure we'll ever get back there tho
@60buick
@60buick 10 ай бұрын
For the first question asker, at 6:30 in the video, David says "I'm not a huge fan of putting debt on existing properties to buy new properties." Really?!? David wrote the BRRRR book which is all about taking money out of existing properties to buy new properties. Just as David recommends for the second question asker.
@60buick
@60buick 10 ай бұрын
Normally David would say, "You have energy stored in your house, and it's not doing anything for you. Take that energy, put it into another property that has value add, and then do it over and over."
@musicvibesonly
@musicvibesonly 10 ай бұрын
Hi i follow your channel with bog interest despite me not living in the us. I live in dubai and i want to built a real estate portfolio as retirement plan. Here is a totally different market than us and it is very volatile. I already pulled the trigger on a premium 1 bed on a off plan payment and i wanted to ask you a question. I want for my next move/buy to go for rental property in order to get some cash flow. Here the payment thru the bank is 20% downpaymwnt + 5% charges. When you go for 75% mortgage from bank, i didn t find any single property in dubai wich will give you extra cash flow after paying service cherges wich are very high over here. The question is , is it still worth going for such a plan if let s say the rental pays off the morgage? In that case should i rely on capital appreciation wich is very up and down? What would be your suggestion for a fuy like me ? I m 46 yrs old and looking to build a real estate retirement plan. Thks Sami
@mmm3040
@mmm3040 10 ай бұрын
Can I short term rent my primary if I lived in it for more than half the year.
@Man-u-flex
@Man-u-flex 5 ай бұрын
How do you know what area is a good area to invest in multi family?
@imeldainterino7747
@imeldainterino7747 25 күн бұрын
Omg! You gave some gold nuggets about lending money to other flippers! This is why I never joined the gator club with Pace Morby after I heard a loan officer lost over 50k as a private lender, I know there's a lot of dirty stuff going on with that group, thank you for your advice! 🎉❤
@rizkisetia6538
@rizkisetia6538 10 ай бұрын
Great episode David! I have question, I bought multi family investment property using dscr loan. My question is can I move in to the property since this property is an investment property? Please advise. Thank you!
@ediemoll
@ediemoll 10 ай бұрын
You should ask your lender, but I’m pretty sure you can’t live there. I think you are required to have another residence to qualify for a DSCR.
@robertthomasson6414
@robertthomasson6414 10 ай бұрын
We live in Utica Indiana right across the river from Louisville Kentucky, so we are trying to build a destination up here for the derby and thunder over Louisville. We’re in an up-and-coming town.
@ejc389
@ejc389 10 ай бұрын
I went to the BP store to pre-order pillars but that didn’t seem to be an option at the moment. The only option that seems to be available is a “sneak peak” of on of the chapters. I’d like to pre-order the book, what did I miss?
@ericknutson9557
@ericknutson9557 10 ай бұрын
The sale is currently only through offsite stores. It will be in the BP bookstore in the coming weeks.
@cvstaff22
@cvstaff22 8 ай бұрын
A lot of helpful gems as someone who is getting started. Thank you!
@dennishowland7495
@dennishowland7495 10 ай бұрын
David green I Bought the book pillars of wealth
@bshawn_
@bshawn_ 10 ай бұрын
Great Episode well needed in this time future classic 🌊💯
@dynosaysrawr9540
@dynosaysrawr9540 6 ай бұрын
"..that will allow you to pull that mustache right off your face" 😂💀
@tritran9374
@tritran9374 10 ай бұрын
David my wife's jealous because I listen to you more than her 😂. Thank you for all you do and load of wisdoms that you bring!
@clifft2269
@clifft2269 10 ай бұрын
When will book be available on Audible?
@jerrycamonjr.9594
@jerrycamonjr.9594 Ай бұрын
This was a good one
@bill-gray
@bill-gray 10 ай бұрын
The title of this video had nothing to do with the video. Thanks for wasting the viewers time. Click bait title.
@sidshri6080
@sidshri6080 9 ай бұрын
But it was a good episode ❤
@GlobalFacts-pb8ry
@GlobalFacts-pb8ry 7 ай бұрын
Thanks for the heads up 😂
@uncommonsense5876
@uncommonsense5876 6 ай бұрын
Hope you are able to get thru it. Don't let anyone tell you that you're NOT the victim here. You hang in there, Bill 👌
@allexsiscook2096
@allexsiscook2096 25 күн бұрын
Let me exit off now🤣
@juanmercado3931
@juanmercado3931 10 ай бұрын
Can I buy a duplex and give 5% down on a conventional loan? I’ll be living on one side.
@HollywoodWestern
@HollywoodWestern 10 ай бұрын
Yes
@brandi-janaicarter3862
@brandi-janaicarter3862 10 ай бұрын
Maybe a fha loan will give you 3.5 down
@robertthomasson6414
@robertthomasson6414 10 ай бұрын
Would really love your advice on this project
@melonibarber3524
@melonibarber3524 7 ай бұрын
Great show!
@robertthomasson6414
@robertthomasson6414 10 ай бұрын
We have 12 acres with a few homes on the property great river views
@robertthomasson6414
@robertthomasson6414 10 ай бұрын
Up on the bluff
@bbqworld2103
@bbqworld2103 10 ай бұрын
Great info thanks!
@casaclau
@casaclau 10 ай бұрын
Hi David thankyou for your immense knowledge ....is it true on nov 18th 2023 we will be accepted to put down 5%for multifamily? Thankyou in advance
@KSlivinghappy
@KSlivinghappy 10 ай бұрын
Wooo Hooo 🎉🎉🎉🎉 Kudos to you, passive income concept is the largest lie 🤣🤣 Even a billionaire must at least manage their money, liabilities, and assets to remain a billionaire = Active! Investment in the stock marketplace is not passive growth. There is an entire team working actively to keep the fund relevant and profitable. The investor must actively keep their life in check so they don’t need to tap into savings/investments to fix hiccups. Great video!!🎉🎉
@janeho2808
@janeho2808 10 ай бұрын
lol love the 3star from Debbie part. Made me laugh
@redpupmasonomega2996
@redpupmasonomega2996 10 ай бұрын
Hi my name is Raymond bond and I make 15.75 an hour how would I get some fixer upper house with how much I make
@jgg204
@jgg204 10 ай бұрын
The change of tone is stark between the the podcasts from 6 yrs ago and today. We need to be real with ourselves. Now is an absolute horrendous time to buy real estate. 40% national increase in 3 yrs, 2x-3x increase in the cost of money. And while rents have gone up in 3 yrs as well, they are now stagnant nationally, and declining avg in many markets. You will need to both be creative and persistent in this market. So that means you don't find shit on the MLS. You have to make your own deals, off market, creatively. People need to wake up to reality. I bet majority of regular BP guests between 2015-2020 aren't even buying anymore. The days of just browsing the MLS and running a rental calc are over
@worldhistoryexplained1
@worldhistoryexplained1 10 ай бұрын
Careful he's sensitive when you call him out on this 🤣 Also he's bias because he owns/partners with a loan company they are always advertising on this channel. The channel went to trash after brandon turner got "rich"
@EGoldman
@EGoldman 10 ай бұрын
@@worldhistoryexplained1to be fair, the podcast hosts always emphasized that having the skills to acquire off market properties below market value was the most important aspect of investing.
@02nupe
@02nupe 10 ай бұрын
It really depends on the market. The last two properties I’ve bought were on the MLS. Respectfully of course. It certainly is more challenging for sure.
@andychops
@andychops 7 ай бұрын
If I was the guy with $900k and at his stage in life I'd just put it into a 5% money market and enjoy the guaranteed $45k/yr interest income. No hassles, no work, and it's liquid. Who needs the headaches of flipping houses or being a landlord when your health is declining and you just want to enjoy life?
@aaronmurphy8796
@aaronmurphy8796 8 ай бұрын
It’s fine if David doesn’t believe in cash flow as a source of income for folks to replace job but can we have a different sub -show with a host that does ? Theres clearly a bunch of folks in markets David thinks are bad making a bunch of cash flow from renting houses . Shouldn’t be too hard to make a show themed towards this
@JonnyMReck
@JonnyMReck 10 ай бұрын
“Don’t quit your job” - just stay there and let them treat you like a slave lol
@mrmixxy
@mrmixxy 10 ай бұрын
Guy asks for advise on real estate.... just get another job or two. hahahahaha
@DamianoTassone
@DamianoTassone 10 ай бұрын
I'd bet you a hamburger that $10,000 course was Grant cardones. Just a guess.
@EGoldman
@EGoldman 10 ай бұрын
I see your hamburger and raise you a mcdouble it was Pace Morbys course.
@anicca8957
@anicca8957 10 ай бұрын
Everyone is a landlord now, what can go wrong?
@Anisha..Alayna
@Anisha..Alayna 10 ай бұрын
‼️‼️‼️💯
@gilbertchecoury
@gilbertchecoury 10 ай бұрын
Using the Brrrr method is the best method to refinance your rental income property to get the equity out in order to purchase another property. @GilbertChecoury
@TonyCook7
@TonyCook7 10 ай бұрын
Could also do other creative ways such as seller finance and subto. BRRRR is phenomenal and I do them myself as well!
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