← BiggerPockets Real Estate Podcast
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- [00:00]
Dave Meyer
2025 is a brand new landscape for real estate investors. Whether you're growing your portfolio or investing for the first time, you sort of need to understand the tactics that work today, not the tactics that work yesterday, not the ones that are going to work in 2026, the ones that work right now. So today I'm sharing my top five real estate hacks of 2025 that you need to move forward on your path to financial independence. Do you want a 3% mortgage? I bet you do. So watch and find out how to get one. Hey everyone, it's Dave, head of real estate investing at BiggerPockets and an investor for 15 years now. And honestly, a lot has changed in those 15 years and also in some other ways, nothing has changed. For me, the big picture stuff is really all the same. I still take a long term approach to real estate investing. I am always looking for the highest risk adjusted returns, no matter what year it is. I look to buy great assets at good values, in other words, in good prices. I want to continue to earn active income as efficiently as possible. So that gives me more money to invest. None of that stuff really changes. That's my big picture strategy. But, but the tactics, the stuff that you're actually doing each and every day, that stuff actually has changed. The type of assets I look for, the types of financing, actually, even the markets that I invest in, those have and will continue to evolve. So in today's episode, I'm going to be talking about five tactical things that almost anyone can use to get ahead in 2025. Some of these are things that I do myself. Some of them are tips that come from the home. Hundreds of conversations I have every single month with successful investors, and today I'm sharing them all with you. All right, my first number one hack for tactics you should be using in 2025 is to be offer ready. And when I say offer ready, that means that you are ready to pounce. You have all of your ducks in a row so that when you find a good deal in this market, and good deals will emerge in this market. We'll talk a little bit more about that in just a minute. But if you have all of your ducks in a row, you will be able to capitalize on the transitional market that we are in right now. If you look at the data or you just talk to real estate investors who are doing things on the ground, what you see is pretty clear that there's a split in the market, inventory is going up and so there's more deals. And still the Majority of them are bad, you don't want them. And, and that's kind of always the case in real estate investing. You're never gonna have a time when everything that hits the MLS is a good deal. But right now, to me, the difference between good deals and bad deals is particularly wide because a lot of sellers are just stuck thinking that they can get prices from last year or two years ago when that's just not true in the majority of markets. Meanwhile, some people are getting more and more motivated. We're having more motivated sellers, so that means better deals are coming, but they're going to be few and far between. And that means the people who are going to succeed in 2025 find great deals, add to their portfolio, are the ones who are ready to pounce on those opportunities when they find them. So that is sort of the overarching hack that I want to share with all of you. But there's actually like a couple of other steps that you should probably learn about in order to actually be offer ready. The four things you really want to focus on is your team. That means having a great investor friendly agent, because if you're going to write offers for the majority of people, they need an agent to be able to do that. You also need an agent who is really good at comping in today's market because as I just said, prices are all over the place. And so if you find a deal that you like, it's a great asset. You need to not only make sure that it's an appropriate price right now, but ideally in 2025 you want to be buying below current comps. A lot of markets right now are at risk of modest declines. 1, 2%, something like that. So ideally when you're buying right now, you buy 1, 2% under current comps. That's going to protect you. And a great agent can really help you do that. We have ways to match you with agents on Biggerpockets. If you don't have one of Those, go to biggerpockets.com agents. You can get match for free. So that's one. Obviously you also need the other elements of your team as well. I think that's important to have a lender, of course, to have a property manager if you're doing a buy and hold and if you're going to do value add, I think it really helps to have some contractors lined up. Now every deal you do, you're going to have to go out and get it bid. But having initial conversations with two or three contractors so that you Know that when you go out and make an offer on a deal that you can execute on your business plan quickly, then that is going to be super important here in 2025. The second thing is, of course, just educating yourself. This is kind of always true, but I find that a lot of people start looking at properties and looking at deals before they fully understand exactly how to operate their deal. And that is what gets people frozen when they actually see a good deal. And then they're unable to pull the trigger because they lose confidence. They don't feel like they actually know what they're doing. And so that's the other step in being offer ready is just knowing exactly what you're trying to do and having a game plan for what your buy box is, how you're going to execute that, and learning everything you need, whether it's through this podcast, through YouTube, whatever it is, go learn what you need to know before you start looking at deals. The third thing you need to do to be offer ready is to get a pre approval. This is super important because right now what I'm seeing, at least in the deals that I've done in the last two years, is that I've not necessarily had the highest offer for my deals, but I've had the strongest offer because I'm reducing the risk for sellers. I give them a very clear look at who I am and that I'm going to close on the property. The biggest problem for sellers right now is, yeah, prices are going down. So it's not. That's the biggest problem. So maybe the second biggest problem is, is that a lot of contracts are getting canceled. They, you know, people put something under contract and they can't get financing or something falls apart. So personally, my strategy for bidding on properties has been to either put more money down, more earnest money, have a really good pre approval, pre qualification ready to offer to show that I'm serious. And there, unless there's something, you know, bad that comes up on the inspection or there's something on title, then I am going to close on this property. And so having a conversation with your lender to position yourself for strong offers is super important in 2025. The last part of being offer ready is something I call benchmarking. And I should probably talk more about this on the show, but it is something I do pretty much every day and I really recommend that people do in their investing career. And this is basically looking at a lot of deals and figuring out what the average deal is in your area. That's why I call it benchmarking. It's because you need to come up with a benchmark of what you can get on an average deal in your market with your strategy. For example, if you were to go out and buy a duplex in St. Paul, Minnesota, what's the cash on cash return you're going to get? What is the financing you're going to get? What is the rents you're going to get? If you don't know that cold, it's going to be really hard to spot these good deals when you're out there. And there's a lot of garbage, but a lot of good deals, you need to be able to compare it to a benchmark. You need to look at the deal in question and say, is this better than the average deal in my market? Is it worse than the average deal in my market? And if it's better, which it needs to be for you to actually offer on it, how much better is it? You know, 5% better? Is it 50% better? This exercise, I think to me has always made me feel confident when I offer on a property because. Because I know I've looked at 50 deals this year in certain areas of the Midwest. I haven't offered on most of them, but when those come around where it's like, oh man, this one is better in every way than all the other deals I've been looking at, that's when you know how to pounce. So I really recommend that you do this benchmarking. That's by analyzing deals. That's one way to do it. The second way is we have a free tool in biggerpockets called Bigger Deals that allows you to look at cash flow and expected returns on properties. And then the third way is just talk to other investors, talk to people in your market who are doing deals, who have done deals recently and see what they're getting. They'll probably tell you Whether it's on BiggerPockets forums, at ARIA, local friends, whatever it is, ask them what their cash on cash return is. Ask them what their mortgage rate is. Find that out. Because knowing what the average is and knowing that you as an investor, your job is to do better than that average, that's going to enable you to go out and execute on those deals. So again, this is my first hack, kind of a conglomerate hack. It's like five things in one. I know I'm cheating on my own episode format here, but I really think being offer ready is sort of the key to jumping on good deals right now. Again, those things that you need to do to be offer ready to educate yourself, have a great team, get that pre approval locked up and your financing locked up and then do benchmarking so you're able to identify the deals and and then go execute on them quickly. To me, this is gonna be a huge divider for which investors succeed and which one just sit on the sidelines in 2025. So that's it. That's my first hack for 2025. I have four more great hacks for you, but we need to take a quick break. We'll be right back. This week's bigger news is brought to you by the Fundrise Flagship Fund. Invest in private market real estate with the Fundrise Flagship fund. Check out fundrise.com pockets to learn more.
- [10:21]
Aaron
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- [10:51]
Dave Meyer
So I tried explaining a sandwich lease to my insurance guy once and he just blinked at me like I made it up. And that's sort of the thing, right? Most insurance companies don't understand how we invest. You go vacant for a few weeks, you switch strategies, you hold stuff in an LLC and suddenly your coverage doesn't fit. That's why I recommend National Real Estate Insurance Group. They actually get real estate investors. Their coverage adjusts as your property changes and you get one monthly bill for everything. No matter how weird your portfolio is. You can check them out@nreig.com bppod that's n-eig.com bppod Aaron the ad guy here.
- [11:27]
Aaron
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- [12:01]
Unknown
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- [12:52]
Dave Meyer
I'm Dave Meyer, sharing my five real estate hacks for 2025 that actually work. The second hack is something I've used a few times in the last year now and I feel like this is kind of the perfect tactic strategy for 2025, at least for me. And the way I approach real estate investing it is called the delayed. I need a better name for it. If anyone has a good name, drop it in the comments either on YouTube or on Spotify because I could use help branding this. But basically what it is is the BRRRR method, which stands for buy, rehab, rent, refinance and repeat. The idea behind a BRRRR is that you take a property, a rental property that is not up to its highest and best use, you renovate it, you increase the capacity to generate rents from it, then you rent it out to great tenants, you refinance it to pull some of the equity that you built by improving that property out and then you take the money that you refinanced and you invest it into the next deal. And what's so appealing about a BRRRR is that it allows you to sort of recycle your money. You are able to get a lot of the benefits of doing a flip, but you get to hold onto the property and get that passive income that over time is going to snowball and and help you achieve financial independence. Now, the BRRRR method, a lot of people have been saying that it is dead and I think that is nonsense. We have guests on this show all the time who are successfully doing the brrrr. But I think the reason people think the BRRRR is dead is because there is a period of time for a while when you could do this strategy and you could pull 100% of your equity invested out of a deal. And that's pretty hard right now, I think if you get 70% out, you're doing great. If you do 80%, you're doing excellent. That's still recycling 70, 80% of your capital. That's an amazing investment. You can't do pretty much anywhere else. So I'm still in personally on the BRRRR method. The way I'm thinking about this and trying to mitigate risk in a confusing market. But I am still trying to acquire rental properties for my portfolio. And the way I'm thinking about doing that is by finding BRRRR deals that can work as rental properties today even if I don't do the renovation. So I think this is a tactic that works particularly well. One for people who have capital and don't need to be perfectly optimized about recycling every single dollar that they have. The second one is for new people. If you are a newer investor, it can work really well to have a great sort of low risk, high upside deal. The delayed BRRRR is a really good thing to consider. Let me just give you an example. I bought a duplex for about $250,000. The rents at the time were about $2,200 per month. So not quite the 1% rule, but getting close. So that property was cash flowing. It wasn't incredible cash flow, but it was pretty solid cash flow to the point where I could hold on to this deal for six months. I could hold on to it for a year or two years if I needed to and still be earning a better return than I would be earning in the stock market or a lot of other places. And the reason I like doing this is because I bought this property with tenants in both units and they were good tenants. And so I didn't really see a reason to kick good tenants out of a property to spend more money and renovate. Instead, what I decided to do is just see when these tenants chose to leave on their own and when they did that, I would update the units as well as I could and hopefully drive up the rent. And that's exactly what happened. It took about a year and a half. And I mostly invest in like, sort of downtown areas where it's a lot of young professionals. So the turnover is relatively high. So I Had a fair degree of confidence that this would be a year or two. Or maybe the first one didn't renew their lease after about six months. So I spent three weeks renovating. It was just cosmetic. I didn't need a ton. So three weeks renovating it. I drove up the rents on that particular unit. I think it was from 1100 to 1400. So that's another $3600 a year in income on this property with a relatively cheap renovation and only one month of vacancy. That's the reason I love this delayed burst. Because if you're going to do it all at once, you sort of have to kick out your tenants and you have risk of just higher holding costs and higher vacancy costs. This way it was very minimal and I could plan it really well. Then I think it was like another six months after that the other tenant left. I did the exact same thing. Right now my rents on this Property are about $2,800 per month. I think I put a total of 20, $23,000 in. So I am now above the 1% rule. Even with all of my, my investment that I put into rehab. And I was able to do this in a relatively relaxed way. I do this stuff out of state and so it allowed me to not have to really nail the timing on everything to work perfectly. Instead it just allowed me to do a really high upside deal, but over time without a lot of the risks of being so dependent on your schedule. That sometimes happens when you are trying to really recycle your money as quickly as possible. I think this is a great strategy for 2025 because risk management is essential. I am looking for optionality. As I said earlier, I think there's some markets where properties prices are going to decline by 1 or 2%. You know, the labor market's holding up pretty well, but there's a chance we see an uptick in vacancies just nationally this year. And so I'm looking for ways to create optionality. And I think that the delayed burr is a great way to capture upside. It can still be a home run deal, but it gives you more optionality and helps you mitigate risk. So that's my second hack for you today. My third hack for 2025 is look at secondary and tertiary markets. Now I know everyone wants to invest in the super hot markets. It's the Raleighs, the Nashvilles, the Tampas, the Austin's of a couple of years ago. Those are the big sexy markets where everyone's moving. They're the headlines where all the Companies are moving to, and they're great. A lot of them are seeing a correction right now. But long term, these are great markets with strong fundamentals. I have nothing against these markets, but what I am seeing, and I look at this data quite a lot, is that a lot of the opportunity right now in 2025 lies in, I would call it secondary or tertiary markets. So these are smaller cities where there's still strong fundamentals. Don't get me wrong. Don't just pick a smaller city. It still needs to be a place with job growth and population growth, affordability. Those kinds of things absolutely need to happen. But these second and tertiary cities just are more affordable, right? These are more affordable, not just for people, but for businesses too. And you're starting to see job growth pop up and accelerate around some of these smaller cities. And to me, that means population will follow and it will mean housing prices and rents will follow as well. And I want to make clear that in some cases, this does mean out of state investing, but it doesn't necessarily have to be. You can still invest in a secondary and tertiary market even if you live in a big city. Just for example, I used to live in Denver and I invested there. I still do invest there. And honestly, I missed the boat on Colorado Springs. I was never even thinking about it at that time because Denver was a great market. But Colorado Springs, about an hour south of Denver, and it was a much more affordable price point for a lot of the time I was living there and investing there. And I could have invested in there and got a lot of appreciation, upside. There are other cities close to Denver, like Longmont that you can do, right? There are tons of examples of this all over the country. Right here, instead of Cleveland, which is affordable, but maybe you go to Akron or instead of Nashville, you look at Knoxville, you know, the. The economic engine that is Denver spills over sometimes into these secondary and tertiary markets. The same thing is true in other big cities throughout the country. And so, you know, look at Dallas, right? That's kind of like a megatropolis, like Dallas itself has its own thing. Fort Worth has also grown as a product of Dallas. Right. And so these are things that you can be thinking about as an investor, whether you want to do that out of state or in state. My thesis for like two years, my investing thesis, I've been saying is a lot about affordability. I really believe that the defining challenge and opportunity in the housing market is that housing is just unaffordable and it's unlikely to get better anytime soon. And that reality or that thesis, I should say it's not a fact, but that reality that I don't think it's going to get a lot better soon. I think it will get better slowly over time. Means that the markets that are affordable have more room to go up. That's the basic theory. And so we're seeing this in reality. The theory has so far proven true. We'll obviously have to see where it goes from here, but that's generally the hack that I am operating on myself. All right, that was our third hack. Just as a recap. Number one was being offer ready. Number two was trying the delayed bur. Number three was considering secondary or tertiary cities. I got two more hacks for you, but we got to take a break. We'll be right back.
- [22:17]
Aaron
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- [22:50]
Dave Meyer
Okay, let's say you're one property's mid flip, one's between tenants, one's on Airbnb. Now try explaining that setup to a regular insurance company. Yeah, it's not fun. But with National Real Estate Insurance Group, it's actually easy. They're built for this stuff. Whether it's flips, short term rentals, even creative deals like subject to or sandwich leases. It doesn't matter if you've got properties in an LLC or a trust either. They just roll it all into one bill and their coverage flexes as your properties change. If you invest in real estate, this is who you want. Go to nreig.com BPPOD to check it out. That's nreig.com BPPod Aaron, the ad guy here.
- [23:27]
Aaron
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- [24:01]
Unknown
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- [24:51]
Dave Meyer
To the BiggerPockets podcast. I'm sharing today. My five hacks for 2025 talked about being offer ready. You got to do that. We talked about the delayed burr, a great tactic if you want good opportunities for risk adjusted returns, which I always do. And we've talked about testing secondary and tertiary cities. The fourth hack that I have for you, I'm sorry, I cannot avoid talking about this. It's just such a good hack for the majority of people is owner occupied real estate investing. Right now. The reality of the country and actually a lot of the world, it's not just a US problem, is that housing is expensive no matter what you do. You want to rent, it's going to be expensive. You want to buy, it's also going to be expensive. Owner occupied strategies are one of the few ways that you can actually reduce your overall living expenses. And I know that a lot of very prominent real estate investors and educators say that your primary residence is not an investment. I think that is absolute nonsense. It is just not true. I have personal evidence to refute that. I think the way to think about it is that your primary residence is not always an investment. Some people go out and buy their dream home and it's overpriced and then it's not an investment. That is true. But if you want to make your primary residence an investment, you absolutely can do it. There are two tried and true ways to make huge Returns on your primary investment. Those are house hacking and and the live in flip. We talk a lot about house hacking on the show because it's just such a good obvious thing to do. But it is especially true when renting is super expensive. When ownership is super expensive, it's just a great way to offset your expenses. Now it doesn't work in every single market. Sometimes in some markets I'm going to pick on L A or Seattle where I live. Sometimes those markets it's so expensive just to buy and the rents aren't proportionate enough that you're better off renting and buying in the Midwest or something like that. But I'd say for probably 80% of markets, house hacking is a fantastic way to improve your financial position. If you're not familiar with the concept, it's basically where you buy a rental property that you live in. And that can either be in the form of living in a single family home, living in one bedroom, renting out the others to roommates, doing sort of the co living model. For a lot of people that works because it's super efficient. You can make a lot of cash flow that way. But some people don't want that lifestyle and so they choose instead to buy a duplex, a three plex, a four plex, live in one unit, rent out the others. This is part of the way I got started in real estate investing. It's a great way to learn the business. It is a great way to lower your living expenses so you can save more money and invest more in the future. There's all sorts of benefits, including better financing. And so house hacking is always a great strategy, always a great tactic that you can use in real estate investing. And 2025 is absolutely no different. The other sort of light bulb that's gone off for me in the last couple of years about owner occupied investing strategy is this concept of the live in flip. This is basically when you buy again a property that is not up to its highest and best use and you renovate it and get it up to its highest and best use while you're living in it. And that can mean a lot of different things. Some people are willing to buy a house that has a shoddy roof and there's rain coming through. That's not me. Some people are willing to just buy a property. The house I live in right now, totally livable, it's great. Are there renovations that need to be done? Yeah, but I can do them at my own time and expense as I see fit. And there are a lot of benefits to this model, but the main one is the tax benefits. Because you might be thinking to yourself, and it's a good question, it's like, why wouldn't I just live in one house or rent a house and then flip another house? Well, the tax code is super advantageous for the live in flip because in the tax code it says that if you live in a property for two out of the last five years. So you just need to live in property for two years basically, and then sell it within the next three. If you do that, you can get all of those gains from your flip tax free, no taxes. It's amazing. There is a limit. I think it's 250 for individuals, up to 500,000 for married couple. If you're making over $500,000 on a live in flip and you're paying taxes, you should be happy, you should be thrilled to pay those taxes because you have hit an absolute grand slam on a flip. So that to me, the limits on the tax deductions are really sort of insignificant. So this is just another tactic that you can use to lower your own living expenses and turn what for most people is like your primary expense, your living expenses, into an actual investment. Building equity, tax free equity. That's why I think the live in flip is a really viable option for a lot of people. So that's the fourth hack is owner occupied strategy. I'm agnostic. You want to do house hack, you want to do live in flip. Both can be great investments. Now let's go to our last but certainly not least hack. And it's building off our fourth one, which is the owner occupied strategy. The number five hack is to steal someone else's 3% mortgage. And by steal, I don't mean actually steal it, I mean legally acquire someone's 3% mortgage. That's probably a better way to put it. But basically the reality is we all know this mortgage rates are still Super High in 2025. You know, we're seeing six and three quarters right now. Hopefully they'll come down a little bit. But there are millions of homeowners right now who are sitting on low fixed rate mortgages. Whether these are FHA loans, conventional loans, VA loans, there are some mortgages that are that low and are what are called, quote unquote, assumable mortgages. An assumable mortgage is this really unique thing that basically allows the buyer, maybe you, to take over the seller's existing loan and including the interest rate, the loan balance, repayment terms, this is not the same Thing as subject to where you are a party to an existing mortgage, an assumable mortgage is you are actually taking over. You are getting put on the loan documents for the new mortgage. And it basically allows you, instead of getting a new loan at today's rates, you step into a loan from 2020 or 2022, when rates were historically low. Now like I said, this one is building off the previous hack because for most situations, consumable mortgages are only available for owner occupants. That's not available for just a regular investor. It's for house hackers, it's for live in flippers. Or even if you want to do a short term rental that you live in part of, this is another way that you can do it as well. And this is just such a game changer that I think most people aren't actually looking for. For just think about it. You can get the same property and instead of paying six and a half percent, you might be able to pay four percent, you might even be able to pay three percent. There are people out there with mortgages at two and half percent, something like that. Those savings can be hundreds or honestly even thousands of dollars every single month on your expenses. And that obviously will let you save up more money to invest elsewhere. So this is such a great way to invest right now, if you can find it. Now, not every mortgage is assumable, but the three things you can target are FHA loans, VA loans and USDA loans. And you want to find properties that were sold from 2020 to 2022. Those are the super valuable vintage of mortgages, right? It's like fine wine. You're looking for the perfect vintage here. You want a 2020-2022 FDA loan. That one is going to treat you just right. You can talk to your agent about looking for these properties specifically, you can actually ask a listing agent, you can ask the seller sometimes in the listing notes these days, because people know that these are valuable, they'll put them in listing notes. I haven't done this myself, but I have seen in some of the listing notes you kind of notice that listing agents price these properties a little bit higher because the they know how valuable the assumable mortgage is. But in some cases that might be worth it. You obviously have to run the numbers and do the math. But I can see scenarios where I'd pay a little bit more, not like a ton more, but I would pay more to get that rock bottom interest rate. You know, if it's a fixed rate loan at 3% on an asset that I want to own long term. Like I would pay a little bit more for that and I don't think think you should write that off. Again, not like you know, 10% more, but if it's a couple grand more to get that assumable mortgage that is definitely going to be worth it. You could probably do the math and figure out for yourself when, when or when that is not worth it. So that's it. That is my fifth hack for 2025 is to try and find an assumable mortgage. Just to recap, like I said for me personally, the big picture strategy of real estate investing hasn't changed. I'm looking for long term investments, great assets I'm going to want to own, I'm going to be proud to own for the next five, 10, 20 years and I am going to invest as much of my capital as makes sense into acquiring those assets. But the tactics that I use to acquire assets, the type of assets that I acquire are going to change and have changed throughout my investing career. Both for the stage of my investing career that I'm in, but also due to market conditions. You have to react to what's going on around you. And so these five tips will hopefully help you adjust your tactics to 2025. And again they are being offer ready considering the delayed brrrr, looking at secondary and tertiary cities, using an owner occupied strategy and trying to find an assumable mortgage. Of course those are just my five hacks. I am sure you all have other hacks that you are using so I'd love to know them. If you're listening on Spotify, drop us a comment. Or if you're watching on YouTube, drop us a comment as well. We want to know what your hacks are for successful real estate investing in 2025. Thank you all so much for listening to this episode of the BiggerPockets podcast. I'm Dave Meyer. See you next time. Thank you all for listening to the BiggerPockets Real Estate Podcast. Make sure you get all our new episodes by subscribing on YouTube, Apple, Spotify or any other podcast platform. Our new episodes come out Monday, Wednesday and Friday. I'm the host and executive producer of the show, Dave Meyer. The show is produced by Ian K. Copywriting is by Calico, content and editing is by Exodus Media. If you'd like to learn more about real estate investing or to sign up for our free newsletter, please visit www.biggerpockets.com. the content of this podcast is for informational purposes only. All host and participant opinions are their own. Investment in any asset, real estate included, involves risk, so use your best judgment and consult with qualified advisors before investing. You should only risk capital you can afford to lose. And remember, past performance is not indicative of future future results. 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