Mile High FI Podcast Renovation vs. Rebuild - Carl is Building a New House | MHFI 303
Jan 20, 2026
Carl Jensen, a personal finance blogger and house-builder behind the 1500 Days to Freedom project, talks about his journey of tearing down a problematic house to build a new one from scratch. He dives into his unique financing strategy, using margin loans, and shares tips on managing risks. The discussion also features Rusty, who shares insights from his own renovation experiences, emphasizing the balance between investment returns and personal enjoyment in home projects. They explore downsizing challenges, the reality of second homes, and the emotional aspects of housing decisions.
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From Off‑Market Find To Tear‑Down
- Carl found a small, poorly designed house off-market and bought it to downsize later.
- He turned it into a rental but eventually decided to tear it down and build anew after weighing condition and layout issues.
Plan For Permits And Environmental Rules
- Expect permit delays and stricter requirements in some counties.
- Prepare asbestos checks, recycling plans, and extra time when tearing down and rebuilding.
Fund Renovations By Borrowing, Not Selling
- Use the Buy, Borrow, Die approach to fund projects without selling investments.
- Borrowing against post‑tax portfolios can be cheaper than realizing capital gains if rates are favorable.