Are you leaving cash flow on the table? Even if you own a single rental property, there are all kinds of strategies you can use to generate more rental income, whether it’s house hacking, renting by the room, or converting your long-term rentals to short-term rentals. And we’re just scratching the surface!
Welcome back to another Rookie Reply! Today, we’re diving back into the BiggerPockets Forums to answer some more of your recent questions. First, we’ll hear from someone who’s at a crossroads with their property. This house has paying tenants and consistent monthly cash flow, but the investor would need to sell the property this year to claim it as their primary residence and dodge capital gains taxes. Stay tuned to find out if they should sell or hold! Then, after a few cash-flow-boosting strategies, we’ll discuss using a HELOC (home equity lines of credit) for a down payment and the potential pitfalls you could run into!
Ashley:
Let’s get your questions answered. I’m Ashley Kehr and I’m here with Tony j Robinson.
Tony:
And this is the podcast to help you kickstart your real estate investing journey. And today we’re going back into the BiggerPockets forums to get your questions answered. Guys, the forms are the absolute best place to quickly get all of your real estate investing questions answered by experts like me, Ashley, and so many others. But today we’re going to discuss how to determine if you should rent or sell a property. We’re going to talk about a realistic cash on cash return in 2024 and beyond. And finally we’ll talk about what to keep in mind if you’re considering a heloc. Now, before we jump in, we want to give a big, huge thank you to Corporate Direct. This episode is sponsored by Corporate Direct where you can protect your properties with an LLC and let corporate direct take care of all the paperwork. Go to biggerpockets.com/direct for a free 15 minute consultation and get 100 bucks off. If you mention the Real…