If you scroll through Manny Khoshbin’s Instagram, you’ll see wealth, success, and a lot of very nice automobiles. You may look at his life and say “well, that must be nice”, but there is much more to Manny than Ferraris and private planes. A few decades ago, Manny was homeless, sleeping in a car with five other family members, simply trying to survive in America.
Manny’s dad wanted to protect his son from entering the military in Iran, so two weeks before Manny’s birthday, the family packed up and left for the United States. They were homeless for a couple of months but slowly were able to find jobs and scrape together some money. Manny worked at a swap meet, a K-mart, a multi-level marketing company selling snacks, and other various jobs.
As he was working he realized that the people driving the Porches, Lamborghinis, and Mercedes were all investing in real estate. After making money in his entrepreneurial endeavors, he bought his first commercial property. Now, two and a half decades later, Manny is sitting on a billion dollars worth of real estate. Oh, and did we mention he bought this all without syndicating?
In This Episode We Cover:
Manny’s “American Dream” story from immigrant to multimillionaire 
Why commercial real estate is such a profitable investment
Value-add opportunities and flipping commercial real estate over the span of a few years
Which real estate industries are on the downward trend (and which to invest in)
The steps new real estate investors should take to make it big
Why Manny’s luxury cars are an investment, not just toys
And So Much More!
Links from the Show:
auction.com
BPCON2021.COM
Elon Musk
Holly Burton
Dave Ramsey
SpaceX
FedEx
CVS
KMart
Amazon
Target
Books Mentioned in this Show:
Trump: The Art of the Deal by Donal Trump
Manny Khoshbin’s Contrarian Playbook by Manny Khoshbin
Driven: The Never-Give-Up Roadmap to Massive Success by Manny Khoshbin
Check the full show notes here: https://biggerpockets.com/show509

      
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509: Cars & Cashflow: Manny Khoshbin’s Story from Homeless to $1B

On the BiggerPockets Real Estate Podcast, co-hosts David Greene and Rob Abasolo interview real estate investors and entrepreneurs about successes, failures, and hard-earned lessons. Through in-depth conversations, 1-on-1 listener coaching calls, and news analysis, you’ll get a breakdown of real strategies that work for different niches and experience levels. Tune into the #1 real estate investing podcast every Monday, Wednesday, and Friday.

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Housing prices won’t budge, but there could be some relief on the horizon for homebuyers. As America’s affordability crisis continues to strain consumers, one of the most considerable costs, housing, is much to blame. Rising mortgage rates are making monthly payments significantly more expensive than just a few years prior, but how long can this last? According to the Vice President of Enterprise Research Strategy at ICE, Andy Walden, not much longer.

Every month, Andy’s team at ICE releases their Mortgage Monitor data reports, sharing valuable insights on what’s happening in the housing market. On this BiggerNews, we’re asking Andy to share what the data is telling him about home prices, mortgage rates, housing inventory, and buyer demand but, even more importantly, where we could be headed in 2024 and whether or not this hot housing market still has room to run.

While there has been huge home price growth over the last few years, Andy reckons prices could begin to “soften” as affordability reaches its breaking point. With demand retreating from the market and housing inventory still on the rise, prices may start to decline, and even if interest rates do fall again, we may not see the uptick in demand many home sellers are waiting for. Stick around as we unpack exactly what’s moving the housing market with ICE’s Andy Walden! 

Support today’s show sponsor, Rent App: the free and easy way to collect rent!

In This Episode We Cover
Why home prices may begin to “soften” in 2024 and what’s causing demand to fall
How to predict housing market trends and the key metrics that indicate potential price movement 
The “lock-in” effect that’s causing homeowners to hold on to their properties 
Why inventory is quickly rising across much of America, EVEN with sky-high rates
The ongoing affordability crisis and the dramatic changes that could solve it 
Record home equity and why American homeowners may be richer than ever 
And So Much More!

Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/real-estate-951
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951: BiggerNews: Why Low Mortgage Rates Can't Solve Our Affordability Crisis w/Andy Walden

There’s one way to invest in real estate that’s cheaper, easier, and more efficient than almost any other strategy. It allows you to get the best mortgage rates with the lowest down payments and buy properties in the best areas. And you can do it every single year until you grow a massive real estate portfolio. Real estate millionaires have been made using this strategy, but most Americans have no idea about it. What’s the wealth-building secret that savvy investors are taking advantage of? Of course, it’s house hacking.

If you’ve never heard of house hacking before, the concept is simple: You buy a single-family home or a small multifamily property and rent out the space you’re not using. This not only allows you access to the best mortgages but also keeps your mortgage cost lower than living on your own. This strategy is so good that expert investor Dave Meyer and today’s lender guest, Terrence Terrell, have used it repeatedly to build serious wealth.

If you’re a first-time homebuyer or have a home but want to get into rental property investing, this is THE strategy to try first. Terrence gives a beginner-friendly masterclass on house hacking, showcasing the huge benefits of house hacking’s low-money-down loans, what you need to have to qualify for a mortgage, the common misconceptions most people get wrong about house hacking, and how to use this strategy to build wealth fast.

In This Episode We Cover
House hacking explained and why it’s the easiest beginner real estate investing strategy 
How to buy your first investment property with as little as ONE percent down 
Qualifying for a mortgage and what first-time homebuyers must know before they apply
The free way to find out whether or not you’ll be able to get financing for your house hack
The easy, low-money-down way to build a real estate portfolio by house hacking 
And So Much More!

(00:00) Intro
(01:26) What is House Hacking?
(03:16) Put Just 1% Down!
(07:50) Who Should House Hack?
(09:28) It's Not as Hard As You Think
(11:55) What Homebuyers Need to Know
(14:51) Qualifying for a Mortgage
(18:43) Advice for First-Time House Hackers 

Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/real-estate-950
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950: The Easiest Way to Invest in Real Estate in 2024 w/Terrence Terrell

Would you buy a rental property that loses money every month? What if, in a few years, that one property could make you hundreds of thousands of dollars? Would the negative cash flow be worth the massive appreciation upside? Today, we’re answering that exact question from an investor who could be sitting on a wealth-building opportunity but doesn’t know what decision to make. Should he buy the "bleeding" property at a steep discount or give up this needle in the housing market haystack to avoid a cash flow trap? Let’s find out!

We’re back on Seeing Greene as David and Rob, your go-to real estate investing experts, answer questions directly from BiggerPockets Real Estate listeners like you! First, an investor has a rare opportunity to buy “Grandma’s house” with over $200K+ in potential equity upside. The problem? It will LOSE $800/month! Next, a new property manager wants to know how to raise rents on a twenty-year tenant. Do you pay capital gains on the profit of your home sale or the entire amount? We’ll show you how to know how much you owe. Then, an investor debates selling his C-class cash-flowing properties in exchange for appreciating assets, and we explain the “sneaky rental” tactic that’ll take you to ten rental properties in no time!

Want to ask David a question? If so, submit your question here so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums and ask other investors their take, or follow David on Instagram to see when he’s going live so you can jump on a live Q&A and get your question answered on the spot! 

In This Episode We Cover
Negative cash flow and one of the ONLY times it makes sense to buy a “bleeding” rental
How to raise rents (the right way) on a long-term tenant 
Capital gains tax explained and how much YOU could owe on your next home sale
Whether to trade cash flow for appreciation and selling your rentals that don’t have room to grow 
The “sneaky” rental tactic that allows you to scale a real estate portfolio FAST 
And So Much More!

(00:00) Intro
(01:23) Losing $800/Month to Make $200K?
(11:59) Raising Rents On 20-Year Tenant 
(21:28) Comment Section & Capital Gains 101
(25:47) Trade Cash Flow Portfolio for Appreciation?
(33:05) The "Sneaky Rental" Tactic
(38:20) Ask Us Your Question!

Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/real-estate-949
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949: Seeing Greene: Is Losing $800/Month in Cash Flow Worth $200K+ Equity?

When you think about short-term rental and Airbnb markets, what comes to mind? Joshua Tree, the Smoky Mountains, maybe Destin? We all know about the famous short-term rental markets, but what about the not-so-famous ones? You know, the unsexy markets where you book an Airbnb for a conference or when you’re going to see extended family? That’s right; we’re talking about everyday American markets like Cincinnati, Ohio. But surprisingly, these markets make some of the best investments for short-term rental investors like Jarrod Tucker and Yiwei Cheng.

Jarrod and Yiwei moved to Cincinnati for work shortly after catching the real estate investing bug. They knew they wanted to invest in real estate, but long-term rentals only came with measly cash flow that would never support their passive income goals. So, what’s the next best option? Short-term rentals! Unfortunately, Cincinnati isn’t known as a popular vacation getaway, but it didn’t have to be to support Jarrod and Yiwei’s cash flow dreams!

Now, five years after the start of their investing journey, they have ten rentals of their own and manage a couple dozen more for other investors. The question is, how do you make money with short-term rentals in an unsexy market? Jarrod and Yiwei walk through their tips for finding the right properties, keeping occupancy rates high, buying real estate when your DTI (debt-to-income) gets maxed out, and why you MUST separate yourself from the basic short-term rentals to reach your financial goals.

In This Episode We Cover
The three types of short-term rental guests who consistently come to markets like Cincinnati 
How to set your Airbnb apart if you’re in a saturated short-term rental market 
Tips for higher occupancy and what you MUST have to get more bookings 
Scaling your real estate portfolio when you have high DTI (debt-to-income)
Using partnerships to buy even more properties when you’re low on cash
Why you DON’T need to invest in high-priced, popular vacation destinations 
And So Much More!

(00:00) Intro
(01:36) The Accidental Airbnb Host 
(08:07) Short-Term Rentals in…Cincinnati? 
(13:37) Are Short-Term Rentals Saturated?
(19:46) Tips for Higher Occupancy
(22:31) Scaling with High DTI (Debt-to-Income)
(32:24) Advice for New Investors 

Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/real-estate-948
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948: 10 Rentals in 5 Years by Buying in Overlooked Short-Term Rental Markets w/Jarrod Tucker and Yiwei Cheng

Want a low mortgage rate? We mean a really low rate—like 4.75% in 2024 low. What about half a million in profit on a sneaky development deal? Or, maybe you’d settle for a quick house flip that pockets you $55,000 on a bad day. These aren’t made-up numbers; these are REAL deals that our expert investing panel is doing in today’s hot, hot housing market. And if you know where to find deals and steals like these, you, too, could be taking home huge profits like they are! Thankfully, they’re sharing all their secrets on today’s episode!
David and Rob are taking some time off to play pickleball, while Dave Meyer and the entire On the Market podcast panel join us today! In this show, we’re talking about the real estate deals getting done in 2024. Each expert brings in a deal they’ve recently done and showcases how they found it, what they bought it for, how much cash flow or profit they’re going to make, and advice to help YOU repeat these home-run real estate deals.
First, Dave will share about a cash-flowing on-market rental property he bought (while abroad!) thanks to his inventor-friendly agent. Kathy Fettke gives tips on getting a low mortgage rate on your next new construction rental and how doing so could massively boost your cash flow. Henry Washington walks through a quick flip that will make him $55,000 on the low end and the ingenious way he found this deal. And finally, James Dainard talks about the almost unbelievably good development deal he’s doing in Seattle that will profit $500,000 (yes, that’s half a million!).
In This Episode We Cover:
How to score a mortgage rate in the four-percent range by buying new construction rentals
The three big housing market challenges of 2024 and how investors can overcome them
How to find cash-flowing, on-market rental properties by investing out-of-state 
One of the smartest ways to find off-market real estate deals for flipping or holding 
The one contract clause that is helping James make $500K+ on his new development deal 
And So Much More!
Links from the Show
Find an Agent
Find a Lender
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BiggerPockets Forums
BiggerPockets Pro Membership
BiggerPockets Bookstore
BiggerPockets Bootcamps
BiggerPockets Podcast
BiggerPockets Merch
Join BiggerPockets for FREE
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
Expand Your Investing Knowledge With the BiggerPockets Books
Be a Guest on the BiggerPockets Podcast
Ask David Your Real Estate Investing Question
Dave's BiggerPockets Profile
Dave's Instagram
Henry's BiggerPockets Profile
Henry's Instagram
James' BiggerPockets Profile
Kathy's BiggerPockets Profile
BiggerPockets' Instagram
On the “On the Market” Podcast
Investing in Real Estate Out of State: What You Need To Know
4 Vital Points to Consider BEFORE Getting Into New Construction
Flipping Houses: How to Get Started and Everything You Should Know
What Exactly Is an Accessory Dwelling Unit (DADU/ADU)

(00:00) Intro
(01:19) Investing Challenges of 2024
(08:17) 1. Cash-Flowing On-Market Rental
(14:41) 2. New Construction with a 4.75% Rate! 
(20:44) 3. $55K House Flip Profit!
(26:11) 4. Making $500K with DADUs!
 
Check out more resources from this show on BiggerPockets.com and  https://www.biggerpockets.com/blog/real-estate-947
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509: Cars & Cashflow: Manny Khoshbin’s Story from Homeless to $1B

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