Redeveloping Condemned Properties

This chapter explores the untapped potential of condemned properties for redevelopment, emphasizing the role of building standards commissions and practical strategies for new investors. It also covers a recent mixed-use project, discussing financial management, community partnerships, and the challenges of rising costs and interest rates.

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A single-family home could give you some extra cash flow, but what if there was a way to make six-figure returns from “rentals” that breathe new life into your town? Today, we’ll share a rookie-friendly investing strategy that allows you to do just that, all while using very little (if any) of your own money!

Welcome back to the Real Estate Rookie podcast! Katie Neason is a big believer in “investing where you’re invested” and has built a real estate business that allows her to make huge returns while revitalizing her hometown of Bryan, Texas. Unlike normal real estate development, which involves new construction on raw land, redevelopment is the process of taking an area that was previously built on and giving it a new purpose. The best part about redevelopment? Your city might actually want you to do it—meaning you could get all kinds of grants and tax breaks to bring your vision to life!

In this episode, Katie will give you a detailed walkthrough of her most recent deal, show you the perfect “gateway” redevelopment project for a new investor (step by step), and teach you how to get started with this strategy using other people’s money (OPM)!

In This Episode We Cover:

Redevelopment explained (and why it’s even better than new development)

Making huge returns and revitalizing neighborhoods with the new BRRRR strategy

The perfect “gateway” project into redevelopment for new investors

How to fund a redevelopment project with little to no money

A step-by-step walkthrough of Katie’s most recent redevelopment deal

How to determine whether your town or city is “developer-friendly”

And So Much More!

Links from the Show

Ashley's BiggerPockets Profile

Tony's BiggerPockets Profile

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