860: How I Made $50K in 6 Weeks in an “Extremely Competitive” Market

Do you want to make $50,000 in six weeks? Even in this housing market, it’s more than possible. You might think we’re bluffing; with high mortgage rates, little-to-no inventory, and buyer demand down from its peak, most real estate investors believe the market is a graveyard, but they’re wrong. In today’s show, we talk to Mike Cappello, who has been doing a few quick house flips and making an unbelievable return. But that’s not all. We’ll also talk to the agent who found the deal, Rob Chevez, about what’s making the most money in the “extremely competitive” market of Washington, D.C. The duo will discuss why D.C. is such a solid market to buy, hold, or flip in, the “buy box” they designed to find the most profitable house flips, and how they’re financing deals EVEN with today’s sky-high interest rates. We’ll also get into the nitty gritty of Mike’s latest deal, the one that could make him $50,000 in just six weeks, and the exact steps to follow if YOU want to do a deal like this in your market. The real estate deals are here; stick around to learn how to find ‘em!

Episode 860 of the BiggerPockets Real Estate Podcast podcast, hosted by BiggerPockets, titled "860: How I Made $50K in 6 Weeks in an “Extremely Competitive” Market" was published on December 20, 2023 and runs 29 minutes.

December 20, 2023 ·29m · BiggerPockets Real Estate Podcast

Summary

Do you want to make $50,000 in six weeks? Even in this housing market, it’s more than possible. You might think we’re bluffing; with high mortgage rates, little-to-no inventory, and buyer demand down from its peak, most real estate investors believe the market is a graveyard, but they’re wrong. In today’s show, we talk to Mike Cappello, who has been doing a few quick house flips and making an unbelievable return.  But that’s not all. We’ll also talk to the agent who found the deal, Rob Chevez, about what’s making the most money in the “extremely competitive” market of Washington, D.C. The duo will discuss why D.C. is such a solid market to buy, hold, or flip in, the “buy box” they designed to find the most profitable house flips, and how they’re financing deals EVEN with today’s sky-high interest rates. We’ll also get into the nitty gritty of Mike’s latest deal, the one that could make him $50,000 in just six weeks, and the exact steps to follow if YOU want to do a deal like this in your market. The real estate deals are here; stick around to learn how to find ‘em!  In This Episode We Cover How to make $50,000 in just six weeks by doing quick, cosmetic house flips  The effect of high mortgage rates on investors and why there is still PLENTY of demand for properties  Building your “buy box” so you can land a killer deal as soon as it comes across your desk The pros and cons of investing in a super competitive housing market like Washington, D.C.  The biggest mistakes house flippers make in a real estate market like today’s  And So Much More! Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-860 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected]. Learn more about your ad choices. Visit megaphone.fm/adchoices

Episode Description