Your rental properties are sitting vacant—what do you do? Do you sell or lower your rent price to spark some interest? Will reducing your rent open you up to bad tenants? We’re getting into exactly what you should do in this sticky landlording situation, and many others, in this episode of Seeing Greene. This time, we’re sharing wisdom on what to do when you can’t find tenants, how to invest with just $15,000 in 2024, which rental property mortgage to pay off first, and whether to keep or sell your newly renovated rental.
As usual, your real estate investing experts, David Greene and Rob Abasolo, are on the show to help answer any investing question you can think of. Our first video submission comes from a new investor who is completing his first BRRRR (buy, rehab, rent, refinance, repeat). With only $15,000 in the bank and a desire to build a real estate portfolio, what’s the BEST way to use such a small amount of cash? Next, a landlord with multiple rentals wants to know which mortgage to pay down first: her primary residence or her other rentals. An out-of-state investor with a vacant property struggles to find a tenant even after lowering his rent price. A medium-term rental owner with a burnt property asks whether to sell or re-rent the property after his insurance-paid renovations are completed.
Want to ask David and Rob a question? If so, submit your question here so they can answer it on the next episode of Seeing Greene, or hop on the BiggerPockets forums and ask other investors their take!
In This Episode We Cover
Struggling to find tenants? What to do if you think your rent price is too high
Building a real estate portfolio with just $15,000 and why you must use the “BRRRR method”
Paying off your mortgage early and whether to prioritize loan balance or interest rate when picking which property to pay off
The huge danger of using a HELOC (home equity line of credit) to pay off a property
What to do after you renovate/rebuild a rental property—keep or sell it?
And So Much More!
(00:00) Intro
(01:24) Build a Portfolio with $15K?
(10:43) Which Mortgage to Pay Off First?
(20:22) I Can’t Find Tenants!
(30:00) Sell or Keep Renovated Rental?
(35:30) Ask Us Your Question!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-969
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BiggerPockets Real Estate Podcast