BiggerPockets Real Estate Podcast

538: Find the Real Estate You Hate (So You Can Buy the Real Estate You Love)

Nov 30, 2021
Katie Neason, a seasoned real estate investor known for her expertise in flipping and mixed-use development, shares her transformative journey from struggling with subsidized rentals to discovering her true passion. She discusses the importance of finding the right real estate niche and the vital lessons learned from trial and error. Katie reveals the intricacies of revitalizing downtown spaces and the art of negotiating deals while working collaboratively with city planners. Her story inspires listeners to pursue investments that spark joy and creativity.
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ANECDOTE

First Deal

  • Katie Neeson's real estate journey began with a $17,000 condo in 2006, inspired by "Rich Dad, Poor Dad".
  • This "test case" validated the concept of real estate investing, despite encountering challenges like tenant turnover and property damage.
ANECDOTE

Fourplexes and Flipping

  • After her first deal, Katie transitioned to fourplexes, aiming for cash flow with HUD tenants.
  • Despite achieving higher-than-market rents, she disliked property management and tenant interactions, leading her to flip houses.
INSIGHT

Beyond ROI

  • David Green emphasizes that ROI isn't everything in real estate.
  • Buying properties that create negative emotions can hinder long-term success and lead to quitting.
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