07.14.2021 - By BiggerPockets
When most people think of USDA loans, they tend to think of farmland or some very, very rural house in the middle of nowhere. While this can be the case for many USDA loans, it isn’t the standard for all of them. As today’s guest Holly Barrett describes, USDA-applicable properties can be outside city centers and just a bit rural.
Not only that, these loans provide homeowners with the chance to get a 0% down loan! This is exactly what Holly did with her first home, later turning it into a rental and finally selling it to make room for some higher cash-flowing properties. She’s also used SBA loans to purchase a commercial property, which has helped her lower the upfront costs needed for acquisition.
Now, Holly has properties close to Chattanooga, centered around a “cool area” as she likes to call it. She’s making her transition from long-term rentals to short-term rentals and is excited to see what her new profit margins are like once her properties go live on Airbnb.
In This Episode We Cover
Using USDA maps to see whether or not a potential home is eligible for a 0% down loan
Live in flips and using them to get tax-free flipping gains
When you should use a 1031 exchange intermediary
Switching from long-term rentals to short-term rentals
Funding a commercial property acquisition with SBA loans
What investors should look for in an agent and the top questions to ask
And So Much More!
Links from the Show
Real Estate Rookie Youtube Channel
Ashley's Instagram
Tony's Instagram
Real Estate Rookie Facebook Group
MLS
USDA Maps
USDA
BiggerPockets Podcast
BiggerPockets Real Estate Rookie Podcast
BiggerPockets Calculator
Airdna
Vrbo
Airbnb
Zillow
Loopnet
America's SBDC
SBA Loan
Realtor
Rookie Podcast 81: David Greene on Where Rookies Go Wrong When Looking for an Agent
Relay
Clubhouse
The US Chamber of Commerce
Check the full show notes here: https://www.biggerpockets.com/rookie95
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