Episode #1,030 Episode Show Notes: https://link.chtbl.com/BPRE 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 Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch The “Value-Add” Playbook: How to Boost Equity and Bring in MORE Cash Flow: https://www.biggerpockets.com/blog/real-estate-911?utm_source=youtube&utm_medium=description&utm_campaign=none Connect with Tom: https://www.biggerpockets.com/users/toms219?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 What’s the best way to build wealth in 2024? For many, it’s “value-add” real estate investing. You might know what this is, but you may have never heard the term before. Value-add investing is when you buy investment properties, improve them, increase the cash flow, equity, or both, and reap the rewards by holding onto them as rentals or flipping them for quick cash. Today’s investor, Tom Shallcross, is doing just this, but he’s making BIG returns (six figures on flips!) and funneling those profits into his sizable rental portfolio. And he’s doing it all in 2024. We know that everyone has told you how impossible it is to invest in real estate in 2024, but Tom instantly proves the naysayers wrong. Not only is he flipping houses, but he’s also buying rentals, BRRRRing (buy, rehab, rent, refinance, repeat), and doing it all in a competitive market—Chicago! So what’s he doing differently? Tom gets the deals before the rest of the investors in his area can, takes on BIG house flips that most investors are too scared to, and constantly reinvests the profits into more real estate. He’s been doing it since 2016 and is STILL finding success in today’s market. How’s he getting the best deals sent to him? How’s he making such large profit margins? We’re uncovering his exact strategy and method in today’s episode. Photo Credit Mike Richardson: https://greaterlakesphotography.com/work 00.00 Intro 02:11 "Accidentally" Investing 06:46 Getting Started in Cheap Neighborhoods 09:47 Switching to A-Class Investments 11:59 Finding Deals Before The Rest 18:02 Current Flip Profits + Costs 26:30 Boosting Your Rental's Income 32:24 What's Next?