logo
episode-header-image
Feb 2025
40m 12s

How I Turned $9,000 into My Dream Home B...

BIGGERPOCKETS
About this episode

Can you afford your “dream house” right now? The one with the pool and the ocean views, space for the kids to run around, and a huge pantry. The secret nobody will tell you: you CAN afford your dream house right now—or at least you can afford the investment that will get you there. Just ask James Dainard, who took a $175,000 hoarder condo and turned it into what would eventually become his $8,500,000 dream house. You can do the same using his level-up strategy.

James only started with $9,000, which turned into multiple millions over the next fifteen years. He would buy a house, fix it, and trade it up for a better one, repeating this strategy five times until he reached the goal: a 9,000-square-foot luxury home in one of the priciest markets in America, Scottsdale, Arizona.

He made millions of dollars completely tax-free because of this live-in flip strategy that ANYONE can use to massively multiply their wealth and take them to their dream home. And maybe you don’t want an $8,500,000 mansion—that’s fine! It only took James three house flips to get into “dream home territory,” and you can do the same!


In This Episode We Cover:

How to use the live-in flip strategy to make tax-free millions and buy your dream home

Why buying the worst house in the best neighborhood can make you rich 

Why your primary residence IS an investment…if you use it the right way 

The real estate tax cheat code that lets homeowners make $500K in tax-free profits 

How to renovate a home even if you have zero flipping or construction experience 

Why it’s crucial to find a spouse who’s DTF (down to flip)

And So Much More!


Links from the Show

Join BiggerPockets for FREE

Let Us Know What You Thought of the Show!

Ask Your Question on the BiggerPockets Forums

BiggerPockets YouTube

Apply to Be a Podcast Guest

James’ Live-in Flip Story!

Watch the Trailer for Million Dollar Zombie Flips

Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations

Find Investor-friendly Tax and Financial Experts

Grab James’ New Book, “The House Flipping Framework”

Sign Up for the BiggerPocket Real Estate Newsletter

Find Investor-Friendly Lenders

Is a Live In Flip Right for You? Here’s How to Tell

Connect with James

Connect with Dave



(00:00) Intro

(03:57) Best Investment? YOUR House!

(07:41) House 1 ($175K Condo)

(12:05) Pay NO Taxes on Profit!

(14:06) House 2 ($235K)

(19:09) House 3 ($890K)

(22:04) House 4 ($1.7M)

(26:22) Making $1.2M on ONE House!?

(28:10) House 5 ($8.5M Dream House!)

(31:44) Tips for 1st Live-in Flip


Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1089

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com.

Learn more about your ad choices. Visit megaphone.fm/adchoices

Up next
Yesterday
2025 Long-Distance Investing Blueprint (Listen Before Buying)
Can’t make the numbers work in your local market? No worries—long-distance real estate investing is the natural next step. We’ve done it before, many times, and made the beginner mistakes, so you don’t have to. Now, we’re gearing up to do it again. Dave and Henry are heading out ... Show More
41m 2s
Jul 7
Replacing His Income with Rentals (in 3 Years!) by “Recycling” Money
In just three years, this investor scaled up to making over $100,000 per year thanks to real estate. He did it all starting in 2022 when interest rates were beginning to rise, the market was turning, and many investors decided to sit on their hands. Thanks to a strategy that allo ... Show More
40m 2s
Jul 4
How to Buy Real Estate Without Banks (Private Money Lending)
Can’t (or don’t want to) get a bank loan? We have another option for funding your real estate investments: private money lending! If your DTI (debt-to-income) is too high, you’ve maxed out how many mortgages you can get, or you need quick cash to finance a renovation, house flip, ... Show More
40m 14s
Recommended Episodes
Nov 2024
Investing in Real Estate WITHOUT a W2? How I Bought 3 Properties in 2 Years!
Can you start investing in real estate WITHOUT a stable W2 job? How will you get a loan? What happens if you have a fluctuating income? Are you completely out of luck? Not at all! Today’s guest, David Sladewski, proves that you can STILL invest in real estate no matter your age, ... Show More
44m 1s
Jul 2024
433: The Million-Dollar Real Estate Business YOU Can Start Today with Just $150 w/Brittany Hailey
Starting a real estate business is one of the best ways to achieve financial freedom, replace your W2 income, and leave your nine-to-five. Why? Because you don’t need a ton of money OR a rental property to get started. Today’s guest built a million-dollar business with just $150, ... Show More
52m 51s
Jul 2024
435: Transforming a Risky First Rental Into a Profitable Property by Doing THIS w/Noreen & Derek Eddy
If you’re holding out for the “perfect” deal, you’ll always be on the sidelines. Today’s guests weren’t afraid to take on a challenge with their first rental property, and it paid HUGE dividends. Not even an expensive market or extensive rehab could stop them from making money an ... Show More
50m 54s
Aug 2024
240: BiggerPockets Real Estate Episode 1,000: Real Estate Is Changing, and So Is BiggerPockets
For the past 999 episodes of the BiggerPockets Real Estate Podcast, we’ve heard stories from investors who have achieved financial freedom through rental property investing. However, when we started this podcast in 2013, it was a different time. The housing market had crashed jus ... Show More
47m 42s
Jun 24
How to FIRE Without Investing in Real Estate
You're eager to build serious wealth, but the idea of managing tenants, fixing toilets, handling trash issues, and dealing with the endless headaches that come with real estate investing makes you cringe. Even though we're the world's largest platform for real estate investors, w ... Show More
35m 14s
Jul 2024
436: “Snowballing” to 12 Doors in 4 Years & Replacing TWO Six-Figure Salaries w/Emily Love
Owning rentals could help you become financially free, afford you more time with family, and allow you to travel the world. Whether you’re stuck in a career you dislike or you need a more flexible job, you’re about to learn that real estate investing could be your golden ticket!  ... Show More
45m 10s
Aug 2024
Rookie Reply: House Hacking 101! Which Property to Buy & How to Scale Fast
House hacking might be the easiest way to get into real estate. This beginner-friendly investing strategy involves little risk, works with several types of properties, and can cover your entire mortgage. But don’t just take our word for it—today’s guest host was able to build and ... Show More
38m 57s
Nov 2024
Quitting His Job with Real Estate After Cracking the Cash Flow Code
Want to quit your job with real estate investing? Rookie investor Miller McSwain has a strategy anyone can copy to make serious cash flow. This investing strategy is rookie-friendly and allows you to learn the real estate investing ropes while making serious money. Miller now has ... Show More
45m 11s
Jun 2024
2024 Real Estate Market
Join Tom Wheelwright as he discovers what is happening in the real estate market with his guest and residential real estate expert, Jason Hartman. Jason Hartman has been involved in several thousand real estate transactions and has owned income properties in 11 states and 17 citi ... Show More
34 m
Jun 9
6 Rental Properties (in 2 Years!) While Working 9-5
Want to invest in real estate but fear you don’t have the time or energy? You DON’T need to quit your day job to build a cash-flowing real estate portfolio, and today’s guest is proof. In just two years, he scaled to six rentals (12 units) while holding down his nine-to-five—all ... Show More
40m 56s