738: Future Millionaires: The “Pickle Jar” Offer That Could Score You a Property
BiggerPockets Real Estate Podcast
Vegas Real Estate
Last time we talked, Wendy had decided to house hack her Vegas property. Now she's trying to figure out what exactly is the criteria that makes a good investment for her. "I feel like I've gone two steps forward, one step back sometimes," says Wendy.
Building a real estate portfolio in 2023 isn’t as easy as it used to be. Without the free-flowing deal flow of the past decade, real estate investors need to try more intelligent strategies to snag properties that can help them reach financial freedom. To help them hit their goals, expert investors David Greene and Rob Abasolo have been coaching a small group of real estate mentees on their journey to build a robust property portfolio. Over the past three episodes, we’ve seen them build their buy boxes, decide on markets, formulate offers, and level up their investor skills. At the end of this ninety-day journey, our mentees have made some profound revelations.
We start with Philip, who’s been struggling to find a worthwhile campground to get under contract. He’s been able to wrangle in a deal, but it comes with “hairy” circumstances that could allow him more bargaining power when negotiating with the seller. Next, Wendy is back on her hunt for a house hack. After viewing potential properties in the Las Vegas area, she’s had to pivot her investing strategy to tackle something that comes with lower costs. And finally, Danny joins us to talk about two “offensive” offers he made and the “pickle jar” method that investors should know about before negotiating with a seller.
All of the mentees have made MASSIVE strides in their real estate investing journeys, but what comes next is entirely up to them. Stick around to hear how they got ahead of the game, what made the most significant difference in their property searches, and how they’re gearing up to tackle even bigger deals throughout 2023!
In This Episode We Cover:
Negotiating with a seller and what to do when hidden costs pop up during your due diligence
Networking with other investors and the MASSIVE benefit that comes with it
House hacking, medium-term rentals, and what to do when struggling to find cash flow
Pivoting your rental property strategy and why you should NEVER make an offer unless the numbers make sense
Making “offensive” offers and why lowballing isn’t always such a bad thing
Building your “buy box” and keeping it flexible enough, so you’re still able to get properties under contract
Analysis paralysis, outsourcing, and what will stop you from making it in real estate
And So Much More!
Links from the Show
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Find a BiggerPockets Real Estate Meetup in Your Area
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BiggerPockets Podcast 719 Part 2
BiggerPockets Podcast 726 Part 3
Connect with Our Mentees:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-738
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