BiggerPockets Real Estate Podcast - Why You Shouldn't Overlook "Old" Investment Properties

Episode #942 Find motivated sellers easily with DealMachine’s powerful off-market 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 wealth-building 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 Most rookie investors walk into an old house, notice the foundation problems, warped floors, and outdated electricals, and quickly see themselves out.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 In this episode, Lisa shares how she’s built a sizable real estate portfolio by buying old, overlooked, and outdated homes, all in the past four years!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 rock-solid tenant retention that’ll keep your rental properties filled for years (or even decades!). Want to know how to find these older homes with wealth-building 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/078-25-motivated-seller-lists-best-order-to-approach-them/id1667656532?i=1000636896361 ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Hear Dave and Henry On the “On the Market” Podcast: https://link.chtbl.com/OTM ~~~~ 8 Things to Look for When Rehabbing Older Homes: https://www.biggerpockets.com/blog/subtle-and-not-so-subtle-things-to-watch-for-when-rehabbing-older-homes?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Pros and Cons of Old vs. New Rentals: https://www.biggerpockets.com/blog/pros-cons-old-new-rentals?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Lisa: BiggerPockets: https://www.biggerpockets.com/users/lisaf162?utm_source=youtube&utm_medium=description&utm_campaign=none Facebook: https://www.facebook.com/lfield12 Instagram: @mooredoorswithlisa or https://www.instagram.com/mooredoorswithlisa/ LinkedIn: https://www.linkedin.com/in/lisa-field/ Website: https://moorelifecapital.com/ ~~~~ Connect with Dave: BiggerPockets: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none Instagram: @thedatadeli or https://www.instagram.com/thedatadeli/ ~~~~ Connect with Henry: BiggerPockets: https://www.biggerpockets.com/users/henryw22?utm_source=youtube&utm_medium=description&utm_campaign=none Henry: @thehenrywashington or https://www.instagram.com/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