On this episode of the BiggerPockets Podcast, we’re going to talk about a unique strategy that combines the power of house flipping with the benefits of home ownership. You’ll meet Mindy Jensen and discover how she uses the “live-in flip” strategy to build wealth through real estate. You’ll also learn how a live-in flipper can save significant money on taxes as well as a discussion on the benefits of doing your own work. Don’t miss this enlightening, and hilarious, episode!
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This Show Sponsored By
We just wanted to give a shout out to our podcast sponsor on today’s show: Patch of Land. Patch of Land is a Peer-to-Real-Estate (“P2RE”) 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.
Learn more by visiting Patch of Land!
In This Episode We Cover:
- Who Mindy Jensen is
- Her thoughts on personal finance
- Frugality, as defined by Mindy
- A debate on Starbucks (as well as Priuses) and frugality
- Where she spends her money
- How Mindy got started in real estate
- Details on her deals
- 7% as a steal?
- The ins and outs of performing a live and flip
- Getting a real estate license as a means to invest
- What you should know about For Sale By Owner (FSBO) properties
- How she advertises her houses
- The pros and cons of live and flips
- Why women can and should fix houses
- The importance of home inspections
- And SO much more!
Links from the Show
- BiggerPockets Keyword Alerts
- #AskBP Podcast
- BiggerPockets Blogs
- BiggerPockets Forums
- BP Podcast with Jeff Brown
- How to “Hack” Your Housing and Get Paid to Live for Free
- BRRRR Strategy
- 3 Real Life Examples That Prove the HIGH Cost of Ignorance in Real Estate
- Want to Make $1,000 or More Per Hour?
- BiggerPockets Forums: New Member Introduction
Books Mentioned in this Show
- The Book on Flipping Houses by J. Scott
- The Book on Investing with No Money Down by Brandon Turner
- The Snowball: Warren Buffett and the Business of Life by Alice Schroeder
- The Warren Buffett Way by Robert G. Hagstrom
- The Richest Man in Babylon by George S. Clason
- “Frugality is save money where you can, so you can spend it where you want to or where you need to.” (Tweet This!)
- “I didn’t get my license to sell houses. I got it so that I could invest and have access to MLS.” (Tweet This!)
- “Nobody likes your house more than you.” (Tweet This!)