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The BEST Way to Force Equity In A Property
Episode 10 Show Notes
What are the best ways to increase the value of your property so as to maximize your profit? In this episode of the Collecting Keys Real Estate Investing Podcast, we talk about which rooms in a house you should add or renovate to increase the value of your home the most, how to get the most out of your property appraisal, and the savviest way to increase your rental home profits by up to 30% or more.
You’ll gain insight into the strange experience we had with our first ever Airbnb guests, Airbnb/Vrbo rental pricing strategies, and the absolute BEST way to get started in real estate investing, flipping, wholesaling, rentals, and more.
Plus, you’ll learn how to gain access to our FREE 5-Step Guide to Start Generating Off-Market Leads!
Key Points From This Episode:
- For house flipping to be profitable, you need to increase the value of the property as much as possible. This is how we do it… [02:07]
- What is the BRRRR Method of real estate investment? & Things that decrease your home appraisal price. [04:29]
- The best and worst types of buildings to add a bathroom into. [09:25]
- Our experience with our FIRST Airbnb guests (spoiler: It was turbulent!). [10:17]
- Maximizing your rental profits by pricing your rentals based on busy seasons and local events. [16:22]
- Real estate investing vs. Hospitality: Things to consider when deciding between house flipping, wholesaling, and Airbnb/Vrbo rentals. [20:01]
- What’s the best way to get started in real estate? [22:10]
- Lessons learned from this week: Systems are necessary for operating rental homes & Find the sweet spot between analysis paralysis and not paying attention to anything. [28:17]
- One of the best ways to learn is putting yourself under extreme pressure. [28:58]
- How to get our 5-Step Guide to Start Generating Off-Market Leads. [30:48]
Tweetables:
“You can buy it and put in some new granite countertops but it’s not going to increase the value as much as increasing the square footage.” — Michael DeHaan [0:02:43]
“You’ve got to show up, you’ve got to be consistent. It does take patience, but all of a sudden you look back and you’re like, holy cow, how did I do four flips… and it was just by showing up every day.” — Dan Austin [0:27:34]
Resources Mentioned:
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Follow Dan Austin on Instagram
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