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BiggerPockets Daily

BiggerPockets Daily

Author: BiggerPockets

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BiggerPockets Daily takes the real estate investing wisdom contained in tens of thousands of BiggerPockets Blog articles and converts it into a convenient daily audio experience... because you can't have your face in a screen while you're out there living your busy life. Rental properties, house flipping, wholesaling... it's all here. And unlike other daily podcasts, the information is timeless – so you can learn on your timeline. Skip episodes, take a break, then binge and catch up. Or just make us a part of your daily routine!

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Simply investing in any metro Sunbelt market is not a recipe for success. To catch a cresting wave of appreciation and cash flow, you’ll need to dive deep into the metrics to examine where people are moving to, how property and rental prices are increasing, and what the unemployment rate is like.  The good news is that we’ve done it all for you! So stop throwing darts at the map, examine our findings, and pick markets like the savvy, switched-on investor you are. Learn more about your ad choices. Visit megaphone.fm/adchoices
With home prices and interest rates still at record highs and inventory squeezed, homebuyers and real estate investors may be better off purchasing a fixer-upper in some cities.  At least that’s according to a report from StorageCafe, which found that fixer-uppers cost an average of 29% less than homes that are ready to move in. And in 20 of the largest 50 cities, they can cost 50% less than a regular home. Learn more about your ad choices. Visit megaphone.fm/adchoices
You can’t eliminate all risk from investments. After all, the zombie apocalypse could strike tomorrow and probably wipe out your entire portfolio. But you can reduce risk, even among high-return investments. In fact, these are precisely the investments you want to minimize risk for—your Treasury bonds don’t need it.  I love real estate syndications as high-return investments. They’re completely passive: You don’t have to worry about financing or contractors, permits or inspectors, tenants or property managers. You don’t have to become a landlord, yet you still get all the benefits of real estate ownership, including cash flow, appreciation, and tax advantages.  Learn more about your ad choices. Visit megaphone.fm/adchoices
The pandemic swept through the U.S. housing market like a tsunami. Radical price hikes and all-time low inventory accompanied massive migration away from pricey big cities. Four years later, the housing market still hasn’t fully recovered. If you plan to invest in real estate or scale your existing portfolio in 2024, it’s worth keeping these six things in mind for a clearer perspective on today’s market movement. Learn more about your ad choices. Visit megaphone.fm/adchoices
Effective rental property management is essential to your long-term success. Without a defined strategy, there’s a greater chance of making mistakes that cost you time and money. Here’s a property management checklist that tells you two things: 1. What needs to be done 2. When it needs to be done Learn more about your ad choices. Visit megaphone.fm/adchoices
Depending on the college, students nationwide looking to live at school have recently found themselves staying in luxury hotels, trailers, on friends’ couches, or Zooming in to class from their parents’ homes. That’s because available student housing is becoming as rare as a full-ride acceptance letter from an Ivy League university. The shortage has created a massive opportunity for private developers and landlords, who know that housing doesn’t have to be paid for out of pocket but can be borrowed, along with student loans that cover tuition and food. Learn more about your ad choices. Visit megaphone.fm/adchoices
I don’t invest in Bitcoin because I am betting on the continuation of Western civilization, not its collapse or decline. If I did believe my government would collapse, I’d invest in guns, ammo, and canned corn. And if I believed that Bitcoin could peacefully replace my country’s currency, I’d still rather own real estate, businesses, stocks, or other alternative assets than a currency like Bitcoin. At $1.3 trillion in market capitalization as of April 2024 and a price of $65,000 per Bitcoin, enthusiasts of the cryptocurrency, who I will refer to going forward as “Bitcoin Maximalists,” may think that they have another conclusive proof point validating their thesis. Learn more about your ad choices. Visit megaphone.fm/adchoices
I don’t invest in Bitcoin because I am betting on the continuation of Western civilization, not its collapse or decline. If I did believe my government would collapse, I’d invest in guns, ammo, and canned corn. And if I believed that Bitcoin could peacefully replace my country’s currency, I’d still rather own real estate, businesses, stocks, or other alternative assets than a currency like Bitcoin. At $1.3 trillion in market capitalization as of April 2024 and a price of $65,000 per Bitcoin, enthusiasts of the cryptocurrency, who I will refer to going forward as “Bitcoin Maximalists,” may think that they have another conclusive proof point validating their thesis. Learn more about your ad choices. Visit megaphone.fm/adchoices
If you haven’t heard, Henry Washington and I are doing something special in honor of the 200th episode of On the Market. We are competing in a Flip/Off, battling against each other to see who can score the highest return.  We described our deals on the podcast and what we hoped to achieve, but I want to keep everyone up to speed on how my flip is progressing. So, every week, I’ll update this diary so you can see how my property transforms into the high-cash-flow deal I know it will become. Learn more about your ad choices. Visit megaphone.fm/adchoices
This year’s hurricane season is expected to be one of the busiest on record, with a potential for 25 named storms. How much risk is your property at? Meanwhile, home prices fell in 7% of markets, but some stand out as cities that, on paper, shouldn’t be showing declines. Is this indicative of a larger trend? Or is it just an outlier? https://www.biggerpockets.com/blog/14-cities-facing-highest-property-damage-risk-during-hurricane-season https://www.biggerpockets.com/blog/crash-or-correction-home-prices-are-falling-in-these-cities Learn more about your ad choices. Visit megaphone.fm/adchoices
With median house prices in the U.S. inching towards half a million dollars and mortgage rates back over 7%, homebuyers and investors alike are getting choked out of the market. Although there are several cities in the Midwest and South where you can still buy homes for $100,000, they tend to be the exception rather than the norm.  Despite the shortage of houses, according to Realtor.com, there are several markets where you can buy a quality home in a good neighborhood for under $300,000.  Learn more about your ad choices. Visit megaphone.fm/adchoices
A record 300,000 migrants entered the U.S. through the southern border in December. Rather than trying to sneak past border agents, many surrendered to apply for asylum.  Overwhelmed immigration courts take years to process these claims, and migrants are protected from deportation in the meantime. They hope to stay, work, and build a life here. But achieving legal status in the U.S. is a complicated process. Meanwhile, some Americans are fearful of the impact of increased immigration rates on U.S. citizens and communities, which has led politicians to consider immigration policy reforms.  Learn more about your ad choices. Visit megaphone.fm/adchoices
Taxes and regulations impact your bottom line as an investor—and not always in direct or obvious ways. Unfortunately, as soon as you start talking about either one, the average person closes their mind, circling the wagons around their existing worldview and only hearing data points that support it. Look no further than this Yale study, which shows that people perform worse on math problems if the correct answers conflict with their political ideology.  I’ll get it out of the way now: I find both major political parties reprehensible and hypocritical. I’ve voted for each roughly equally over my life. Learn more about your ad choices. Visit megaphone.fm/adchoices
Before you find and hire a property manager, there’s something you need to know: Not all property management companies structure their costs the same way.  Knowing how much property managers generally charge—including their fee structure—allows you to determine if it’s the right fit for you.  Learn more about your ad choices. Visit megaphone.fm/adchoices
A Wave of Zoning Law Changes Could Have Huge Impacts for Investors and Housing—Here’s What You Need to Know  The U.S. is facing a housing deficit of about 3.2 million units, and the situation is especially dire in urban areas like New York. It’s one of the reasons prospective homebuyers are finding it increasingly difficult to find affordable homes.  That’s led many cities and communities to consider changes to strict single-family zoning restrictions, which are correlated with high home prices, surging rents, and fewer housing starts. Many see the reversal of pervasive restrictions on multifamily construction across cities as a solution to the affordable housing crisis.  Learn more about your ad choices. Visit megaphone.fm/adchoices
Are you sitting on the sidelines in this market? Many investors are. There’s a lot of fear and caution. But we’re not. And you don’t need to be, either.  Of course, I recommend staying in cash if you can’t find the right investment opportunity. But we are finding them on behalf of our investors, and they’re the beneficiaries. I’ll tell you about one here. Learn more about your ad choices. Visit megaphone.fm/adchoices
For real estate investors, the question of cash flow versus appreciation is as old as time. However, in an era of high interest rates, buying properties for cash flow isn’t easy. That doesn’t mean investing should be off the table, as there are many advantages of owning rentals other than immediate cash flow—appreciation and tax advantages being the most obvious.  Whether to keep buying or stay on the sidelines comes down to some specific decisions. Let’s dig deeper. Learn more about your ad choices. Visit megaphone.fm/adchoices
In a recent episode of the BiggerPockets Real Estate Podcast, I had the privilege of chatting with Mindy Jensen about my journey to financial independence. One burning question arose: How did I manage to lower my expenses without sacrificing quality of life?  Well, fellow FIRE enthusiasts, let me share six of my key insights into how I transformed my financial landscape by embracing strategic hacks that allowed me to live life to the fullest (no cutting out lattes here!) without breaking the bank. Learn more about your ad choices. Visit megaphone.fm/adchoices
We are less than a month away from listing our Brooklyn, New York condo, which we bought for $375,000 back in 2004, the same week we got married. 20 years, two kids, and one chocolate lab later, we are selling the condo for something close to $1 million and then flipping the profits into a new investment via a 1031 exchange. (New here? Catch up on the last few monthly missives!)  As a reminder, we haven’t made much cash on this property over the past 20 years. The growth has been all equity—and now’s the time to cash in! Learn more about your ad choices. Visit megaphone.fm/adchoices
Why does mindset matter most? The answer is quite simple, yet surprisingly hard to believe: Mindset matters most because having the right one allows you to have the proper focus, work ethic, and decision-making skills to grow your company and your business. What Is Mindset, and How Does It Allow Me to Do All That? Mindset = mind + set. Mind = The element of a person that enables them to be aware of the world and their experiences, to think, and to feel; the faculty of consciousness and thought.  Learn more about your ad choices. Visit megaphone.fm/adchoices
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