BiggerPockets Daily

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Latest Episodes:

1324 - The One Renovation Guaranteed to Increase ROI—No, It’s Not the Kitchen or Bathroom by Corby Goade May 30, 2024

Show notes

Gearing up for your first rehab? Whether it’s a flip or BRRRR, I’ve got earth-shattering news for you that will change everything you thought you knew about value-adds in real estate: If you’re trying to build equity for leverage or to cash out and want to get the best bang for your buck, forget the roof, new furnace, kitchens, or bathrooms. You need to take it outside and spend some real money on landscaping.

But everyone knows kitchens and bathrooms are where the big money is made, right? Don’t get me wrong—you should update kitchens and bathrooms, but we are talking return on investment (ROI) here. Kitchens and bathrooms are high-expense, high-return areas. Landscaping is a low-expense, high-return prospect. You’ll get a better return on landscaping than you will any other rehab expense.

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1323 - Real Estate Investors: Use These Loans to Get Your Construction Project Across the Finish Line by William J Tessar May 29, 2024

Show notes

The real estate market is ever-evolving, and there has been a growing trend toward ground-up construction. With existing home inventory remaining at historic lows and no improvement in sight, new construction will be one of the solutions to the current housing crisis—and savvy investors will reap the rewards, with an average of 10% to 20% gross profit on projects done right.

For builders, a successful project is one completed on time and within budget. But that is no easy feat these days. According to the Construction Management Association of America, 98% of construction projects go over budget. To put it another way, that’s 9 out of 10 projects, according to the International Journal of Innovation, Management and Technology.

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1322 - Free Money? Can You Build a Real Estate Portfolio with Zero-Interest Credit Cards? By Jeff Vasishta May 28, 2024

Show notes

Juggling 0% interest business credit cards is like juggling torches in a hay-covered barn. Drop one, and the whole place goes up in flames. However, if you are disciplined and know what you’re doing, they could be a great asset in helping you kick-start your real estate investing career.

Getting a 0% Business Credit Card

There’s lots of information online regarding 0% APR business credit cards. Most offer 0% interest for 12-18 months. This makes them well-suited for real estate projects that can be refinanced or sold, allowing you to pay back the cards before interest starts to kick in. These cards are relatively easy to get, provided you have good credit and a business entity.

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1321 - Contractor Nightmares: 5 Red Flags to Watch For and How to Escape a Bad Hire by Kyle Spearin May 27, 2024

Show notes

What’s easier to find, a unicorn or a rock star contractor?

If you asked most value-add real estate investors, the answer would be obvious: “Unicorns, of course.”

We all know the inherent value contractors bring to any real estate investment. A great contractor can help you reduce costs on renovations, save money on holding costs with quick turnarounds, and manage the project with limited guidance. The end result, of course, is a beautifully renovated property that gets finished on time and brings in a big payday.

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1320 - The Investor’s Guide to a Single-Family Rental Emergency Fund by Chris Clothier May 26, 2024

Show notes

As real estate investors, your emergency funds are a critical line of defense against unexpected costs. It prevents you from dipping into your budget to handle them.

But what should you really use an emergency fund for? And how much money should you keep in your safety net? Here’s everything you need to know.

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1319 - The American Dream Trap: Maneuvering Major Expenses in Your Financial Adventure by Whitney Hutten May 25, 2024

Show notes

From the moment we take our first steps, we’re handed a blueprint for the American dream. Grow up. Get educated. Land a job. Buy a car. Tie the knot. Purchase a house. Raise a family.

Clock in for 40 years while diligently stashing away funds in a 401(k).

It’s the classic tale of success, promising a life of stability, security, and financial freedom. But what if I told you that beneath this facade of prosperity lies a lurking threat to your wealth journey?

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1318 - Blowing the Lid Off Your Financial Ceiling Means Creating a Floor to Allow Risk by G. Brian Davis May 24, 2024

Show notes

If you read traditional financial independence/retire early (FIRE) bloggers, many of them reached their goals by simply pairing a high savings rate with a standard portfolio of stocks and bonds. There’s nothing wrong with that. It works, and anyone can replicate it.

But my wife and I follow a different path to FIRE. You do need a stable financial floor—but that’s just the beginning.

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1317 - Working at Walmart Could Help Make You a Millionaire in Just a Few Years—Here’s How by Anna Cottrell May 23, 2024

Show notes

If you dream of becoming a real estate investor but work at Walmart, you could well be on your way to realizing your dream much sooner than you think. This comes with one important caveat: You’d need to manage a Walmart store to enjoy the financial benefits that could set you up with the cash needed to invest.

Walmart U.S. announced last week that it would be giving its store managers stock grants in the company. The announcement comes after Walmart also made the decision to raise managers’ salaries and introduce a new bonus structure that will allow store managers to earn up to 200% of their salary in annual bonuses.

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1316 - 5 Things I Always Look For—And You Should Too—in a Flip by Henry Washington May 22, 2024

Show notes

When evaluating deals in the competitive world of house flipping, as showcased in my current project, featured in my Flip/Off battle with James Dainard (you can also read about his weekly progress), I consider several key factors to ensure both a strategic purchase and a profitable sale. These components are crucial to the success of the flip and are designed to resonate with a broad range of potential buyers, especially those entering the market for the first time.

But before I share my recipe for success, let me give you some background on my project.

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1315 - Beyond the Mailbox: Innovative Direct Mail Strategies That Win in Today’s Market by Benjy Nichols May 21, 2024

Show notes

Breaking news: Direct mail is still a key factor in real estate marketing, and it has the potential to be bigger and better than ever before. That’s because the analog marketing technique is being supercharged by digital tools.

The days of the one-size-fits-all approach are gone. We all remember those days: stacks and stacks of the same advertising leaflets delivered to hundreds of local mailboxes, only to be discarded by uninterested (and often annoyed) residents. The cost of printing was, in many cases, unjustifiable, given the lackluster performance of this marketing method.

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