Noah Evans
Noah Evans has been a guest on Collecting Keys, the real estate investing podcast hosted by Mike DeHaan, Dan Austin and Dylan Koch.
Using Creativity To Survive a Falling Real Estate Market with Noah Evans
Noah Evans of The Chasing Freedom Show joins Mike and Dan to describe how he went from an Enterprise Rent-A-Car job to a small rental portfolio and roughly 50 flips, then had to dig out of a Boise market that dropped nearly 40% while he had 13 active rehabs. He walks through exactly what he did — shutting off marketing, tightening rehab budgets, calling every private lender personally, and turning an unsellable farm flip into a multi-income rental — and explains why he's now moving into rundown boutique motels instead of single-family Airbnbs.
Key takeaways
- When the market turned, Noah shut off his marketing entirely to stop himself from buying more deals, went back to visiting job sites daily to control spend, and focused on finishing the 13 rehabs he already had.
- He called every private investor personally as soon as he saw losses coming, told them there would be losses and that repayment might take a year or two, and kept every one of them — most still lend to him.
- A farm flip that wouldn't sell was refinanced with a conventional loan at a $495K appraisal against a $420K basis, then stacked with a $1,850/mo tenant, an $800/mo barn rental, three RV pads at $500/mo, and pasture lots rented to goat and chicken owners — projected ~$1,400/mo cash flow instead of a total loss.
- On his last three flips he converted useless alley-loaded garages into heated, finished art studios (no plumbing) to create extra exits: detached office, home gym, or an extra Airbnb sleeping room.