How to Turn Neglected Areas Into Rental Goldmines (6-Figure Returns) | Bigger Pockets Video

Episode #537

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A single-family home could give you some extra cash flow, but what if there was a way to make six-figure returns from “rentals” that breathe new life into your town? Today, we’ll share a rookie-friendly investing strategy that allows you to do just that, all while using very little (if any) of your own money!

Welcome back to the “Real Estate Rookie” podcast! Katie Neason is a big believer in “investing where you’re invested” and has built a real estate business that allows her to make huge returns while revitalizing her hometown of Bryan, Texas. Unlike normal real estate development, which involves new construction on raw land, redevelopment is the process of taking an area that was previously built on and giving it a new purpose. The best part about redevelopment? Your city might actually want you to do it—meaning you could get all kinds of grants and tax breaks to bring your vision to life!

In this episode, Katie will give you a detailed walkthrough of her most recent deal, show you the perfect “gateway” redevelopment project for a new investor (step by step), and teach you how to get started with this strategy using other people’s money (OPM)!

00:00 Intro
00:59 What Is “Redevelopment”?
04:57 The “Gateway” Into Redevelopment
07:06 Next Steps for Rookies
16:13 How to Fund Your Project
21:41 Katie’s Most Recent Deal
30:55 4 Tips for New Investors
34:32 Connect with Katie!