22) Flipping Homes, Tiny Homes & Season 1 Investors

Real Estate Investing with House Money

House Money Weekly

In this week’s House Money Weekly segment, your hosts discuss blog 122, where they discussed what a season 1 real estate investor is. Before giving his answer, Alan asked Tom and Lauren how they define a season 1 real estate investor. Tom answered that season 1 investors are the ones who are looking for a property at a certain location and they know their buy box, these are the people who are ready to invest. Lauren added that season 1 investors are the people who are buying their 1st to 4th properties. Typically, season 1 investors are still in the learning phase, so Alan prepared 3 clues to determine if you’re a season 1 investor. The 1st clue was if you are someone who has no clue what to do next in real estate investing. If you want to invest in real estate but don’t have any idea where then you’re a season 1 investor. If you have no clue what questions to ask, then you’re a Season 1 investor. Finally, if you really want to change your life financially and you know that real estate can do it, but you’re not sure what to do, then you’re a Season 1 investor.

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Mortgage Minute: Jasmine answers the question: Do mortgages stay with the property even if I move out of the property?

Sponsored by: Jasmine Mortgage Team https://www.jasminemortgageteam.com/

Real Estate Is Easy Interview

Lauren interviews John McSherry, a real estate broker and investor from New York. As a real estate broker, he is focused on Long Island, Brooklyn, and Queens markets and he does fix and flip properties and he does wholesale. He is known for fix and flip, so Lauren asks John what that means. Fix and flip means you will purchase a property to do a full renovation of the property and sell it. Lauren asked John what they look for in a property that they flip. John talked about what ARV (after repair value) is. He also shared his recent deal purchase price, how much money he spent, and what his AVR was. John shared that he prefers to get in and out quickly off the market than to hold on to make a lot of money. Lauren asked about the impact of raising interest rates. When the market changes, it’s better to make less money and just move it quickly because we’ll never know what the future may hold. Lauren asked John if buyers should be wary of being a flipped property. The answer is yes, however, he mentioned flippers take care of the big problems, like termites. John shared that when flipping, you won’t end up with property, but you will end up with money. It’s a transactional job that makes a lot of money. You make generational money with rentals versus flips, though. John answered how he makes real estate easy and it’s about making it a lifestyle.

Contact our Guest: https://www.instagram.com/john.mcsherry/

Teatime with Tom

Tom’s segment is all about tiny homes. Tom shared a post with a tiny house and it was a very hot topic, which is why he’s bringing this topic to Lauren and Alan. The hosts shared their thoughts on living in a 361-square-foot house and if they would purchase a tiny home and put it on a property they already own. Lauren experienced living in a camper for 8 days with her husband for FINCON and living in a tiny home is possible if you learn how to live with less than what you have. She also has a tiny home as a short-term rental (Airbnb). Alan stayed in Lauren’s camper before. Tom stayed in Lauren’s tiny home. Lauren shared her dream of creating a tiny home community. For Alan, as an investor, he would never buy a standalone tiny home as an investment, but he’d like to add to his existing properties as an additional structure. Both Tom and Alan are familiar with these communities near them. Tom chides Alan and reminds him you need to learn to make it work!

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