On today's show: a coaching session with David Greene and the winner of a charity auction at BPCon, Carla Holmes from Yellow Square Properties.
Carla is a long-time investor and rookie to commercial investing. She's been cautious with her real estate investing and never took on debt after she went through foreclosure during The Great Recession. Now, she sits on over a million dollars in equity, spread across multiple properties in the Carolinas. Her recent acquisition is a 4.5-acre commercial property that she’ll convert into a parking lot for big rigs in her area.
Since this is a brand new real estate class she’s entering into, Carla wants to be absolutely sure she’s crossing all her t’s and dotting her i’s. David walks her through a live analysis going over the hurdles, work, expenses, and income that this property will bring in. He also helps Carla debate whether selling, refinancing, or keeping her current properties is best based on her one-year financial independence goal.
In This Episode We Cover:
How to analyze a commercial property from scratch with limited property information
Identifying the drawbacks and new potential income stream opportunities on a property
Why so many frugal investors avoid debt, even if it could be of benefit to them
Why you shouldn’t “hit the cones” when investing in a new real estate class
Thinking multiple steps ahead when making a move in real estate
And So Much More!
Links from the Show
BiggerPockets Forums
BiggerPockets Youtube Channel
BPCon 2021
Craigslist
Facebook Marketplace
David's Instagram
BiggerPockets's Instagram
Check the full show notes here: https://www.biggerpockets.com/show535
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