Transforming Properties: From Renovation to Profit

This chapter focuses on a property rehabilitation project that entailed significant renovations, particularly in the kitchen and bathroom. The speaker discusses the balance between appealing to buyers and leaving elements unfinished for future DIY opportunities, culminating in a successful sale despite the challenges of the COVID-19 pandemic.

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If you’re new to investing in real estate, you may not have run your first real estate analysis yet. But as soon as you start looking at properties, you’ll become a spreadsheet wizard in no time! With so many investors counting on automatic analysis from modern, hyper-specific real estate calculators, old-school investors beg the question “do these calculators really make a difference in the deal?”

Today, expert investor, home flipper, wholetailer, and almost every other real estate title in the book, Jonathan Greene, joins us to talk about what new investors are missing out on. While many investors run spreadsheets and analyses before seeing a deal, Jonathan does it the other way around. Jonathan will drive to a property, walk the property, and then after taking a look at some specific parts of the property, will run a deal analysis. He walks through the system that not only makes this efficient but worthwhile.

If you've been around the BiggerPockets Forums for some time, you’ve probably recognized Jonathan’s name (or face). He’s an active contributor, responding to forum posts almost every day and chatting with new investors every chance he gets. Jonathan has found deals, mentors, partners, and great friends thanks to online forums, like BiggerPockets. If you’re looking to get the most out of your virtual networking, Jonathan shares his five tips on extracting huge value from the collective minds of over two million real estate investors!

In This Episode We Cover:

Going beyond the spreadsheets and analyzing real estate internally (before using a calculator)

How to get the “feel” of a house when investing out-of-state

The crucial parts of a house Jonathan looks at during his first walkthrough

The five steps to being successful in an online community (or in real life too!)

Choosing your perfect out-of-state market using two simple data points

Flipping poorly designed homes into massively profitable masterpieces

And So Much More!

Links from the Show:

BiggerPockets Forums

BiggerPockets Podcast 315: How to Read Human Nature to Succeed in Life with Bestselling Author Robert Greene

BiggerPockets Podcast 583: Building Your “Passive Income Blueprint” Using the Right Real Estate Agent w/ Johnny Hoang