Episode #1175 Maximize Your Real Estate Investing with a Self-Directed IRA from Equity Trust: https://eqtytrst.co/bp-1031 See Dave and James Live at BPCON2025. Limited Tickets are Still Available! https://get.biggerpockets.com/conference/?utm_source=youtube&utm_medium=description&utm_campaign=none Episode Show Notes: https://lnk.to/biggerpocketsYT Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media Let Us Know What You Thought of the Show! https://www.BiggerPockets.com/Podcastfeedback Grab James’ Book, _The House Flipping Framework_: https://store.biggerpockets.com/products/the-house-flipping-framework?utm_source=youtube&utm_medium=description&utm_campaign=none Sign Up for the BiggerPockets Real Estate Newsletter: https://www.biggerpockets.com/email-subscribe?utm_source=youtube&utm_medium=description&utm_campaign=none Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders How to Renovate a House—Whether You’re Renting, Flipping, or Moving In: https://www.biggerpockets.com/blog/how-to-renovate-house?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with James: https://www.biggerpockets.com/users/jdainflips?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Dave: https://www.biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none Should you buy a rental property now or wait? If you buy now and prices rise, you’ll get all the appreciation that comes with it and have the chance to refinance at any point in the future. But waiting to have a larger down payment could get you a better loan and put you in a stronger financial position. You want to get into real estate investing soon, so what should you do? We’re answering this question, and more, on this Q&A episode where we field actual investor dilemmas and share what we’d do in these situations. First, the classic buy now or wait debate. Mortgage rates are falling, and so are prices in many areas, and if you’ve got just enough money to buy your first rental, is now the time to do it? Or, do you wait and save, bringing even more money to the table? Should you renovate a house as a first-time real estate investor? If done right, the benefits could be massive, but veteran house flipper James Dainard says there’s only so far into a renovation you should go as a beginner. Plus, do you want 100% financing as a new investor with no experience? We’ve got some interesting news for you! Finally, the one house flipping metric to rule them all—what James uses on every flip to see if it’s worth it. 0:00 Intro 1:56 Buy Now or Wait and Save? 9:10 Renovate as a First-Timer? 14:55 100% Financing with No Experience? 23:31 The Secret Metric for Flipping