• 435: Transforming a Risky First Rental Into a Profitable Property by Doing THIS w/Noreen & Derek Eddy

  • Jul 22 2024
  • Duración: 51 m
  • Podcast

435: Transforming a Risky First Rental Into a Profitable Property by Doing THIS w/Noreen & Derek Eddy Por arte de portada

435: Transforming a Risky First Rental Into a Profitable Property by Doing THIS w/Noreen & Derek Eddy

Escúchala gratis

Ver detalles del espectáculo

  • Resumen

  • If you’re holding out for the “perfect” deal, you’ll always be on the sidelines. Today’s guests weren’t afraid to take on a challenge with their first rental property, and it paid HUGE dividends. Not even an expensive market or extensive rehab could stop them from making money and reaching their investing goals! Welcome back to the Real Estate Rookie podcast! Noreen and Derek Eddy are a real estate investing power couple who took a big risk with their first deal—a distressed, multifamily property that had recently been foreclosed on. To make matters worse, they were forced to turn their renovation project into a live-in flip once their contractor didn’t hold up his end of the bargain. Rather than straining their relationship, this DIY project brought them closer together, and today, the property’s revenue covers most of their mortgage! In this episode, you’ll learn all about the low-money-down loan you can use to finance your property and renovation costs, as well as a lesser-known strategy you can use to find rare deals in a competitive market. Finally, Noreen and Derek will offer advice on dealing with tenants and how to get along while living under the same roof! In This Episode We Cover Whether you should buy a multifamily property as your FIRST investment 203(k) loans explained, their pros and cons, and when to get one How to cover your mortgage using the house hacking strategy Finding rare deals outside of the multiple listings service (MLS) How to become a landlord and what to include in your lease agreements Why tenant placement is the KEY to a successful house hack And So Much More! (00:00) Intro (00:53) Finding a RARE First Deal (13:07) 203(k) Loans Explained (18:28) Investing with Your Spouse (20:46) Numbers on the Property (25:29) House Hacking with Tenants (32:38) 2AM Police Visits!? (39:11) What’s Next for the Eddys? (42:43) Connect with Noreen & Derek! Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-435 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices
    Más Menos
activate_primeday_promo_in_buybox_DT
Liderazgo Economía Finanzas Personales
Más Menos

Lo que los oyentes dicen sobre 435: Transforming a Risky First Rental Into a Profitable Property by Doing THIS w/Noreen & Derek Eddy

Calificaciones medias de los clientes

Reseñas - Selecciona las pestañas a continuación para cambiar el origen de las reseñas.

Reseñas de Audible.com

Opiniones de Amazon
No hay comentarios disponibles