{"id":86328,"date":"2017-02-23T00:02:23","date_gmt":"2017-02-23T07:02:23","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=86328"},"modified":"2023-04-14T01:29:57","modified_gmt":"2023-04-14T07:29:57","slug":"bp-podcast-215-condo-conversions-student-rentals-and-profiting-in-a-hot-market-with-ricky-beliveau","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/bp-podcast-215-condo-conversions-student-rentals-and-profiting-in-a-hot-market-with-ricky-beliveau","title":{"rendered":"Condo Conversions, Student Rentals, and Profiting in a Hot Market with Ricky Beliveau"},"content":{"rendered":"<p>Boston is a tough market. Prices are high, but even high rents aren\u2019t enough to make it profitable to invest. <strong>Ricky Beliveau<\/strong> makes money by renting to students, converting small multifamily buildings into condos (it\u2019s easier than you think!), and transitioning\u00a0unused space into more bedrooms to add massive value.<\/p>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC3318792557&#038;light=false\" width=\"100%\"><\/iframe><\/p>\n<h2>Watch the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" title=\"Condo Conversions &amp; Student Rentals in a Hot Market with Ricky Beliveau | BP Podcast 215\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/2XI4BG6ufd4?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Help Us Out!<\/h2>\n<p>Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found <a href=\"https:\/\/www.biggerpockets.com\/forums\/25\/topics\/161423-do-you-listen-to-the-bp-podcast\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>. Thanks! We really appreciate it!<\/p>\n<h2>This Show Sponsored By<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-80996 size-full alignright\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/09\/Equity-Trust-Logo.png\" alt=\"Equity Trust\" width=\"270\" height=\"93\" title=\"\"><strong>Equity Trust<\/strong> is a financial services company that enables individual investors to diversify investment portfolios through alternative asset classes, including real estate, tax liens, private equity and precious metals.<\/p>\n<p>Get your free\u00a010 Ways to Partner on a Deal with Your IRA Checklist:\u00a0<a href=\"https:\/\/www.trustetc.com\/\" target=\"_blank\" rel=\"noopener\">trustetc.com\/bp3<\/a><\/p>\n<h2>Fire Round\u00a0Sponsor<\/h2>\n<p><a href=\"\/renewsblog\/wp-content\/uploads\/2015\/07\/patchofland.png\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\" wp-image-73681 size-full alignright\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2015\/07\/patchofland.png\" alt=\"patchofland\" width=\"214\" height=\"62\" title=\"\"><\/a>We just wanted to give a shout out to our podcast sponsor\u00a0on today\u2019s show:<strong> Patch of Land<\/strong>. Patch of Land is a Peer-to-Real-Estate (\u201cP2RE\u201d) lending marketplace that matches accredited and institutional investors seeking high-yield, short-term, asset-collateralized investments to borrowers seeking more timely and consistent sources of funding for rehabbing properties across America.<\/p>\n<p>Learn more by visiting\u00a0<a href=\"https:\/\/patchofland.com\/biggerpockets\" target=\"_blank\" rel=\"noopener noreferrer\">Patch of Land<\/a>!<\/p>\n<h2>In This Episode We Cover:<\/h2>\n<ul>\n<li>How Ricky started\u00a0by <strong>borrowing money<\/strong> from his mom<\/li>\n<li>Thoughts on buying\u00a0an <strong>expensive property<\/strong> in an expensive market<\/li>\n<li>How he got <strong>4 signers and co-signers<\/strong> per unit<\/li>\n<li>Tips for finding a <strong>property manager<\/strong><\/li>\n<li>The upsides to having a\u00a0<strong>college rental<\/strong><\/li>\n<li>How he achieves next to <strong>zero vacancies<\/strong><\/li>\n<li>How he <strong>tenant-proofs<\/strong> his\u00a0rentals<\/li>\n<li>The <strong>value<\/strong>\u00a0of his property today<\/li>\n<li>The details of his <strong>next deals<\/strong><\/li>\n<li>How to find these <strong>gems<\/strong> of properties<\/li>\n<li>What a <strong>condo conversion<\/strong> is<\/li>\n<li>The average <strong>cost<\/strong> for condo conversion with an attorney<\/li>\n<li>How he sets\u00a0the <strong>HOA<\/strong> up<\/li>\n<li>How to tell if\u00a0a property is good for <strong>conversion<\/strong><\/li>\n<li>Thoughts on keeping a <strong>day job<\/strong> while investing<\/li>\n<li>How to find r<strong>eliable contractors<\/strong><\/li>\n<li>What\u2019s <strong>next<\/strong> for Ricky<\/li>\n<li><strong>And SO much more!<\/strong><\/li>\n<\/ul>\n<h2>Links from the Show<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/marketplace\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Marketplace<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Forums<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/pro\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Pro<\/a><\/li>\n<li><a href=\"\/renewsblog\/2013\/12\/12\/bp-podcast-048-duplex-managing-tenants-darren-sager\/\" target=\"_blank\" rel=\"noopener noreferrer\">BP Podcast 048: Duplex Investing, Finding Great Properties, and Tips for Managing Tenants with Darren Sager<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/522\/topics\/298936-east-boston-project\" target=\"_blank\" rel=\"noopener noreferrer\">East Boston Project<\/a> (Forum Post by Ricky)<\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/analysis\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Analysis<\/a><\/li>\n<li><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/how-i-built-this\/id1150510297?mt=2\" target=\"_blank\" rel=\"noopener noreferrer\">How I Built This Podcast<\/a><\/li>\n<li><a href=\"https:\/\/twitter.com\/mindyatbp\" target=\"_blank\" rel=\"noopener noreferrer\">Mindy&#8217;s Twitter Account<\/a><\/li>\n<\/ul>\n<h2>Books Mentioned in this Show<\/h2>\n<ul>\n<li><a href=\"http:\/\/amzn.to\/2lpz7rn\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Flipping Confidential<\/em><\/a> by Kirsten Kemp<\/li>\n<\/ul>\n<h2>Tweetable Topics:<\/h2>\n<ul>\n<li>&#8220;Let the experts do what they do well, and you can do what you do well.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22Let%20the%20experts%20do%20what%20they%20do%20well,%20and%20you%20can%20do%20what%20you%20do%20well.%22%20BP%20Podcast%20215%20biggerpockets.com\/show215%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;If a property has a major foundation issue, your profits can just disappear.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22If%20a%20property%20has%20a%20major%20foundation%20issue,%20your%20profits%20can%20just%20disappear.%22%20BP%20Podcast%20215%20biggerpockets.com\/show215%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<li>&#8220;Don\u2019t say &#8216;I can\u2019t.&#8217; Instead, figure out a way to do it.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22Don%E2%80%99t%20say%20&#039;I%20can%E2%80%99t.&#039;%20Instead,%20figure%20out%20a%20way%20to%20do%20it.%22%20BP%20Podcast%20215%20biggerpockets.com\/show215%20%40biggerpockets\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<\/ul>\n<h2>Connect with\u00a0Ricky<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/users\/rickyb7\" target=\"_blank\">Ricky&#8217;s BiggerPockets Profile<\/a><\/li>\n<li><a href=\"http:\/\/volnaycapital.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ricky&#8217;s Website<\/a><\/li>\n<li><a href=\"https:\/\/www.instagram.com\/volnaycapital\/\" target=\"_blank\" rel=\"noopener noreferrer\">Ricky&#8217;s Instagram Profile<\/a><\/li>\n<li><a href=\"http:\/\/facebook.com\/volnaycapital\" target=\"_blank\" rel=\"noopener noreferrer\">Ricky&#8217;s Facebook Page<\/a><\/li>\n<\/ul>\n<h2>Show Preview<\/h2>\n<p><iframe loading=\"lazy\" title=\"Show 215 Preview: Figure out a way to do it!\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/bwfYjb7Nv2A?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston is a tough market. Prices are high, but even high rents aren\u2019t enough to make it profitable to invest. Ricky Beliveau makes money by renting to students, converting small [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":118616,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-86328","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/86328","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=86328"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/86328\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/118616"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=86328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=86328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=86328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}