BiggerPockets Real Estate Podcast - Do You Have Hidden Home Equity? (How to Use It)

Episode #1148 Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations: https://resimpli.com/biggerpockets/ Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust: https://eqtytrst.co/bp Ask Your Question on the BiggerPockets Forums: https://www.biggerpockets.com/forums?utm_source=owned_media Episode Show Notes: https://lnk.to/biggerpocketsYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media Let Us Know What You Thought of the Show! https://www.BiggerPockets.com/Podcastfeedback Learn How to Be a Private Money Lender with “Lend to Live”: https://store.biggerpockets.com/products/lend-to-live?utm_source=owned_media Sign Up for the BiggerPockets Real Estate Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders Home Equity: What It Is, How To Calculate, & How To Use It: https://www.biggerpockets.com/blog/what-is-home-equity?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with James: https://www.biggerpockets.com/users/jdainflips?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Dave: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none It’s the situation every real estate investor wants to be in: your house just appraised for more than you expected. Now, you’ve got some home equity added to your net worth, but how do you use it? Should you keep it in the property and maintain low leverage, or use home equity to scale your real estate portfolio more quickly? We’re answering common real estate questions like this one and a lot more in today’s show! James Dainard joins the show as our veteran real estate investor, owning hundreds of rental units, flipping thousands of houses, and lending millions of dollars. He started as a rookie during the Great Financial Crisis, and today, he’s sharing his hard-earned lessons so you don’t have to make the same mistakes. We’re touching on: - What to do with your home equity when your house appraises high - How to estimate rehab costs on a renovation or house flip - Becoming a private money lender (serious passive income!) - Interior design 101, even if you have zero experience in home renovations - Whether we should finally kill the 1% rule in real estate (maybe it’s time) 0:00 Intro 1:06 Walking Into Equity! 4:31 Sponsor: REsimpli! 5:07 Interior Design 101 (DON’T Need Experience) 9:51 Becoming a Private Money Lender 19:09 How to Estimate Rehab Costs 27:07 Is the 1% Rule Possible? 32:45 Ask Your Question!