Flipping a Condo in 2022

It was a small condo in southern Denver. The budget was we bought it for 230,000. Target sale price was between 315 and 325,000. And if you're flipping a condo, you need to be looking at pretty much that community or really similar communities like it.

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Think it might be too late for you to enjoy the spoils of real estate investing? Well, you’d be wrong! Regardless of age, background, or financial circumstances, it’s never too late to switch careers and become a real estate investor. Just ask today’s guest!

In this edition of the BiggerPockets Money podcast, we’re joined by Evan Miller, who was a bright-eyed, bushy-tailed US Air Force cadet when he first took an interest in real estate. It wasn’t long before his childhood dream of becoming a pilot was ousted by the entrepreneurial pull of building his own real estate empire. Although his journey included a stint in intelligence and a pit stop as a certified financial planner, Evan has managed to create a portfolio of eight properties over the last eight years.

In today’s episode, Evan shares his entire story from start to finish, including his frugal upbringing, his time at the academy, and his journey towards becoming a full-time real estate investor. As always, our trusted hosts Mindy and Scott are along for the ride. Tune in as we demystify a handful of money-related topics—qualifying for real estate professional status (REPS) and its enormous tax benefits, finding exclusive deals through assumable loans, and flipping houses for a profit—even in a bad housing market!

In This Episode We Cover

How to seamlessly transition from your current vocation to a career in real estate

The value of frontloading depreciation when building your real estate portfolio

Assumable loans and how to find HUGE deals in military markets

How to flip houses at a profit in a volatile housing market

Real estate professional status (REPS) tax benefits (and how to qualify!)

The opportunities that come from surrounding yourself with other real estate investors

And So Much More!

Links from the Show

BiggerPockets Money Facebook Group

BiggerPockets Forums

Finance Review Guest Onboarding