Episode #942
Find motivated sellers easily with DealMachine’s powerful offmarket tools: https://www.dealmachine.com/bp
How do you find investment properties nobody else is looking for—the ones with cash flow potential, equity upside, and wealthbuilding qualities all the other investors overlook? Simple: buy what nobody else wants. For Lisa Field Moore, that’s old homes. Most rookie investors walk into an old house, notice the foundation problems, warped floors, and outdated electricals, and quickly see themselves out. But Lisa sees money to be made—and you should too.
In this episode, Lisa shares how she’s built a sizable real estate portfolio by buying old, overlooked, and outdated homes, all in the past four years! But these are treacherous waters, and getting a major rehab item wrong could cost you a deal. To help, Lisa breaks down what isn’t (and definitely is) a red flag when looking at old homes, how she lost serious money making one easy mistake, and how to avoid doing a bad deal ever again. Plus, she shares her tips for rocksolid tenant retention that’ll keep your rental properties filled for years (or even decades!).
Want to know how to find these older homes with wealthbuilding potential? Stick around because DealMachine gives us a bonus segment on the five ways to find a motivated seller in ANY market!
Check out DealMachine’s Podcast Episode, "25 Motivated Seller Lists & Best Order To Approach Them": https://podcasts.apple.com/us/podcast...
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Hear Dave and Henry On the “On the Market” Podcast:
https://link.chtbl.com/OTM
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8 Things to Look for When Rehabbing Older Homes:
https://www.biggerpockets.com/blog/su...
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Pros and Cons of Old vs. New Rentals:
https://www.biggerpockets.com/blog/pr...
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Connect with Lisa:
BiggerPockets: https://www.biggerpockets.com/users/l...
Facebook: / lfield12
Instagram: @mooredoorswithlisa or / mooredoorswithlisa
LinkedIn: / lisafield
Website: https://moorelifecapital.com/
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Connect with Dave:
BiggerPockets: https://www.biggerpockets.com/users/d...
Instagram: @thedatadeli or / thedatadeli
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Connect with Henry:
BiggerPockets: https://www.biggerpockets.com/users/h...
Henry: @thehenrywashington or / thehenrywashington
Show notes at: https://link.chtbl.com/BPRE
00:00 Intro
01:31 Investing in OLD Houses
05:22 Signs of a Solid Property
10:18 $100K Rehab Gone WRONG
16:06 How to Avoid Bad Deals
19:42 When to Hold and When to Sell
23:54 Tenant Retention 101
34:27 5 Ways to Find Motivated Sellers