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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748: From $5/Hour to Five-Figure Rent Checks Thanks to "Guaranteed" Rent w/Anne Curry
747: Seeing Greene: “Amplifying” Your Equity and When to Pay Off Debt vs. Invest
746: 28 Rentals Before 28 Years Old (and Doing it All in Just 3 Years!) w/Jake Radawick
745: The MOST Underrated Way to Get Started in Real Estate in 2023
744: Seeing Greene: How to Create Cash Flow & Cutting Costs On a Home Renovation
743: Better Than BRRRR!? How to Make $200K+ on ONE Deal w/Janice Stitzer
742: How to Achieve Financial Freedom Through Real Estate in 4 Steps
741: Seeing Greene: The Cash Flow "Golden Age” Could Be OVER
Bonus: SVB's Collapse: Is Real Estate at Risk in The Fallout?
740: From $500 to 40 Rental Units After Going Broke in The Last Crash w/Eric Quinn
739: Where the REAL Money is Made in Multifamily (Asset Management 101)
738: Future Millionaires: The “Pickle Jar” Offer That Could Score You a Property
Bonus: How to Use the 2023 Housing Correction to Get RICH with Real Estate
737: Lewis Howes: The 3-Step Formula to Go From Broke to Millionaire in 2023
736: BiggerNews: Mortgage Rate Mayhem and New Rules That Could RUIN BRRRR
735: Seeing Greene: Rental Property Deal-Breakers That Could Kill Your Cash Flow
734: Seller Red Flags I Should Have Seen Before Doing a Nightmare Deal w/David Pere
733: 3 Real Winning Deals in 2023 (and Where You Can Find Them!)
732: Seeing Greene: Side Hustles, Syndications, & Escaping a W2 with Real Estate
731: From Losing EVERYTHING in the Last Crash to $9,000,000 Income in 9 Years w/Brent Daniels
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