BiggerPockets Real Estate Podcast
Business:Investing
You’ve heard cash flow stories before, but NOTHING like this. We’ve talked to hundreds of investors that have flipped houses, bought apartment complexes, storage facilities, and more. But a high school? A high school rental property? Surely this has to be a first. If you want to know the pioneer behind this absolutely insane passive income project, look no further than Jesse Wig, who turned a dilapidated high school into a thirty-one-unit apartment building.
But before Jesse went on a literal wild ride through this high school, he faced defeats that would stop most investors in their tracks. After making just ten dollars per hour working under a flipper, Jesse tried to do his first deal himself, but things didn’t go to plan. He walked away from his first real estate deal in debt with a massive loss but decided to try again. Jesse learned quickly from his mistakes and started buying rentals in an up-and-coming area right outside of Pittsburgh, Pennsylvania.
Through a brilliant investing tactic that we’ve never heard of before, Jesse was able to catapult and control his rental properties’ values, skyrocketing his personal wealth while bringing up an entire neighborhood with him. Soon after that, he found his off-market high school and, through some savvy partnerships and serious work, turned it into a cash cow unlike anything we’ve ever seen on the show. Jesse is about to school us on the right way to do real estate!
In This Episode We Cover
Turning a $100K high school into a $42K/month apartment complex
What to do when your first flip or real estate deal becomes a huge flop
The smartest way to shoot up your property’s value and boost your neighborhood’s desirability
Unbelievable real estate conversion projects and why creative investing often has the most cash flow
Raising private capital when doing large deals and why you NEED partners with skills you don’t possess
Signs that your real estate agent might be the love of your life
And So Much More!
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-776
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783.1: Home Buying Hacks: Finding The Perfect House (and Agent!) w/Chris Hutchins
782: Unbelievable Returns from Flipping This New Type of Real Estate w/Jessie Rodriguez
781.5: What to Buy During the Newest Real Estate Crash w/Willy Walker
781: The Beginner’s Guide to Finding Undervalued, Off-Market Deals in ANY Market
780: The Step-by-Step Guide to Building a Medium-Term Rental Empire w/Jesse Vasquez
779: How Delivering Pizzas Helped Me Build a 27-Unit Rental Portfolio w/Pamela Bardhi
778: How to Build a Million Dollar Rental Portfolio with Little Time OR Money w/Niti Jamdar & Palak Shah
777: Seeing Greene: Investing Later in Life? You’re Still in Luck!
775: BiggerNews: Rent Unaffordability Crosses Dangerous New Threshold w/Lu Chen and Thomas LaSalvia
774: Seeing Greene: Bleeding Rentals, Bad Flips, and The Safe Haven For Your Cash
773: Replacing His Income with $70K/Year Cash Flow After a Close Call with Death w/Pasha Maleknia
772: Stop Looking for Perfect Properties, Search for These Instead
771: Seeing Greene: Getting Into Your First Property is Cheaper Than You Think w/Kristina Smallhorn
770: Retirement Accounts Collecting Dust? Use Them to Buy Real Estate! w/Kaaren Hall
769: The Beginner’s Guide to “Infinite Investing” with the BRRRR Method
768: Seeing Greene: Do This BEFORE You Leave Your 9-5 Behind
767: Multifamily Market Update + What a 20 Year Veteran Knows That You Don’t w/Angie Smith
766: Explosive Growth Could Be in Store for These Two Real Estate Markets w/Kim Meredith-Hampton and Victor Steffen
765: Seeing Greene: Out-of-State Mistakes, “Low Risk” Real Estate, & False Cash Flow
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