Buying My 1st Duplex (7 year update)

In this video, Chandler takes a blast to the past by showing us his very first investment property. He dives into all of the juicy details by crunching the numbers of current rents, expenses, and how he distributes his cashflow. It’s important to analyze the positives and negatives that have transpired over the years so as to learn from the past and make appropriate changes if necessary. As with most investments, there are always improvements to look at. However, like many investments, there are so many things to celebrate as well! This property is definitely one that has generated an amazing ROI.
Investing in real estate for the last 10 years, Chandler David Smith currently owns over $25 million worth of rental real estate. During this time, he has had some great experiences being able to share his passion alongside his family and buddies. He has seen them absolutely crush it when it comes to the investing and sales world. More importantly, he has been able to share his expertise with others and learned invaluable lessons along the way.
Chandler dives DEEP into all of the ins-and-outs of his very first investment property - how we was able to close the deal, the financial details, his cashflow past and present, and what the future of this property looks like for him. Keep in mind that there are A LOT of unknowns when you take a step into the real estate world - things fall through the cracks and honestly, anything could happen. But - this is life! When you take the proper steps that Chandler teaches here, you CAN mitigate your chances so that you will be taking the smallest risk with the highest return possible!
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If you're interested in learning more about real estate investing, and you'd like to have one-on-one mentorship go to:
www.chandlerdavidsmith.com/
Check out some other videos if you want to learn more about investing in real estate, building a huge passive income, or preparing for your own future home.
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[@LeviPeters.]

As an hvac service technician I promise you that filter needed to be changed. It was filthy and we honestly recommend them to be changed out every 3 months to pro-long the life of your furnace.

[@mrniceguy423]

hahaha I'm not an HVAC tech and I recognized that filter was dirty AF.

[@thenewwayhome]

This shows that you're a great landlord, Chandler! There are definitely things that need some updates and upgrade on this property. But you definitely have a great tenant who takes care of this home.

[@12397bmw]

You are great man my landlord is a witch, when I arrived at my apartment the floor panels were loose she said I did it, the toilets were filthy she said I did it, they discovered some termite damage and she said I let them in even though everyone in the neighborhood has termite problems, and 3 years ago the roof caved in and they didn’t fix it for 1 fool week. Keep setting a good example sir.

[@omarblanchfield6717]

Nice to see...the pros and the cons with your process with the upcoming work. Some investors but the upgrades upfront others wait down the road, but most important it's a sensible investment with good tenants.

[@jonweber98]

You might be surprised that I am following you on youtube as I have been renting houses for 20 years and have 30 doors. I am 55 years old and retired from the 9-5 this year. I built up very slowly but the snowball has really started to grow. I haven't had as many homerun purchases as you but definitely have had some similar strikeouts. My last two sales were to existing long term tenants. I was able to do private sales through an attorney to avoid agent commissions and pass the savings onto the tenant in the form of equity. Was a win-win since I was ready to move on to higher cash flow property through 1031 exchange anyway.

[@MillennialMike]

yours is still an incredibly relatable and inspiration story! and an amazing journey i'm sure. you are the unsung hero that doesn't get the fame and clicks but seriously admirable. 'i've been buying doors for 4 years now. up to 10 and hoping to get 3 more in the next couple months.

[@kennethgravley4487]

Love the video dude bro! Keep it up. Always entertaining to watch your content.

[@connorritchie8014]

Killer video like always!! Always excited to see you upload!!!

[@nickpaust6636]

Love this! maybe bring us through all your purchases

[@andrewwiggins3190]

I am a property owner in Tampa, it is pitiable what is happening in the housing market. Ian was ruthless, but I wasn’t affected. I am not doing so well in the stock market but have currently increased the rent on my properties, I have 1M set aside for early retirement, I'm already 47. My major concern is that I ponder a lot how to make the best of the market irrespective of what the fed is doing.

[@karynplumm878]

you need a professionals help especially regarding the stock market, watch videos do your own research but planners know better how the markets turn out. Unless you know where to look you have the discipline to conduct diligent fundamental research, then I’d suggest seeking assistance of a seasoned financial planner.

[@24ever12]

@@karynplumm878 when you are handing over your financial responsibilities to someone else, you are never learning how to manage these responsibilities yourself and yet , you will spend more requiring a professionals assistance.

[@andrewwiggins3190]

@@tinyalumbaugh3574 I will be happy getting assistance and glad to get the help of one, who do you work with and how did you go about hiring them?

[@josefkurtz2622]

@@tinyalumbaugh3574 With fed rates spiking and high interest rates all markets are being manipulated, you are indeed lucky

[@zaylempfert2787]

Im in largo teach me ur ways 😂

[@porkchop8131]

Great video

[@DJStroble]

I got my duplex a year ago. When I got the taxes in they were 6k a year!!!! totally caught off guard.

[@victor0h66]

Man that makes me want to just hold my first property even more!

[@MillennialMike]

never sell! i've bought so much real estate over the years and i just watch it grow and grow in value. and i spend a LOT of time with much more successful older investors and the one thing i hear them say over and over again is "man i wish hadn't sold this or that property because look how much its worth today.

[@Adam-hx1gw]

@@MillennialMike hey bro I am a complete beginner and am looking to purchase some real estate for the long term. Is now a terrible time to purchase? I am 24 and am liquid $150,000 and would like to put that into something, just don’t know where to start

[@YungBapacito]

​@MillennialMike ehh thats dumb, selling to scale with an exchange is a way to fasttrack your scaling

[@thunderthormx]

How did you get rid of the flies? We are getting lots of flies in our shop on our property

[@builttolaugh]

Chandler, we need to be besties man.

[@myfx2551]

THANKS. Just what I needed to watch. My wife and I got a 400k HELOC from our 780k primary home which we are still paying a mortgage for. I want to only use 200k for this new duplex down payment. I realized that the secret to making millions is making better investments and staying out of debt. I'm grateful to GOD for the internet space, we were able to join the credit repair program, we payed up our debt and now we are back to being the administrators of our farming business and our own properties, as well as small pensions. I am almost 50, my wife is 48. We have started saving for retirement from the farm and maybe live off rental income, I would really appreciate it if you would do a video on how to earn using Airbnb and retire comfortably.

[@jeroldstokes6065]

This is exactly how I wish to get my finances coordinated ahead of retirement.

[@jeroldstokes6065]

You talked about a "credit repair program" how do I join? I took out a 200k heloc from my primary home 2 years ago which I'm still paying....I find it challenging to invest elsewhere because I'm still paying the mortgage and I got bills. to pay.

[@myfx2551]

"Laura Gilbert CFA " is the licensed fiduciary i use. She lead me to join the program, Just research the name you'd find necessary details to work with a correspondence to set up an appointment.

[@jeroldstokes6065]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.

[@chennaimarketerr]

Why no one talked about this program when I was in debt

[@leviburgin9171]

With your numbers and owning it for 7 years with so much appreciation. Why are you paying PMI? You can call you bank and get that removed because your well over the 20%

[@AV-ss3vy]

Can anyone explain how to screen your future tenants, so I don't make a mistake?

[@gainzz8493]

Hey what states do you buy your property's in ?

[@johnvonhaussen2526]

What real estate management company do you use?

[@Pagojames]

No doubt , a good way of growing and saving your money is through investing . You don't need to have much before you can invest. "That little money you have now can make you millions if you invest it wisely". I wasnt financial free until my 40’s and I’m still in my 40’s, bought my second house already, earn on a monthly through passive income and got 4 out of 5 goals, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing is a grand choice I made

[@wonderloot]

Glad I came across this comment section. I was struggling to decide what to do with a good amount of money in the bank doing nothing. I would be happy if you could advise me, as I am ready to go the passive income path.

[@Pagojames]

I highly endorse the services of Regina Louise Collaro, a US-based financial advisor and consultant. Partnering with an international organization, she has been instrumental in guiding my financial journey with unwavering support until my goals are met. Selecting the right financial consultant is as crucial as finding the right life partner, as both can significantly impact your life's trajectory. I'm grateful to have found the perfect financial consultant who has helped me achieve my financial objectives, from education to nearing retirement.

[@wonderloot]

I value your recommendations. It's challenging to locate a trustworthy person. I could really use your investment advisor after seeing how much money you've made through investing. If you don't mind revealing her information, that is.

[@Pagojames]

Alright, you can easily find her information by doing a quick 🔍 search. Feel free to reach out to her directly with any questions you may have.

[@Rasheedmalik-kx5iy]

This is a shocker seeing Regina Louise Collaro is being mentioned here. I always had mixed feelings about hiring a Investment advisor. For the record, I started working with Regina in 2019, and she manages about 70% of my Investments, while I manage the other 30%. My philosophy is that I care more about my own money than anyone else, but she made me accept that they have wealth of information on current conditions and future trend

[@kamcam7812]

Where did .76 come from in the math breakdown?

[@coolguy24eric]

Don't you think you can make more money doing airbnb instead of long term rentals?

[@mylesfarias9]

How did you generate the income to be able to purchase several properties in the same year

[@MillennialMike]

i've been buying rentals for 4 years and now have 10. in order to generate the income to buy more initially i worked a boatload of overtime and saved every penny to start househacking. once i got the househack in place my living expenses dropped down to zero. then i was able to save my income i WAS spending on rent and put it in the bank. I saved for almost 2 years and then bought rental number 2. i was able to buy 3 that year. Eventually the income started to "snowball" and got to the point where i'm generating enough income from the properties it helps me buy the next one that much faster. I also used a HELOC from my first property to fix and remodel some properties i then cashed out. there are a lot of strategies that you could use. hit me up some time

[@VinnyHotsauce]

@@MillennialMike I’d be interested to chat. I’ve had a duplex for 2 years now. I have some capital but also 100k+ in equity. Would be cool to hear your opinion if it’s smarter to save up cash for down payment on the next rental or using HELOC for down payment

[@christopheralcala2458]

​@@MillennialMikeHow do I msg you?

[@TL-wy1nk]

Why are you leaving the rent low? I would bump it higher due to the market allowing it.

[@MillennialMike]

the number 1 mistake that landlords make is to not raise rents. i buy a lot of distressed properties from landlords who stopped raising rents. in order to be a good operator you need to operate the property properly which includes keeping rents at or near market

[@jacobkincaid123]

It’s a duplex right?

[@andydrew3320]

Lol man oh man feels a bit off tbh. I seriously hope you’ve cut a deal with the tenants that are maintaining everything on the property. I had a landlord who was completely blown away when I told him no way to vacuuming/sweeping the building hallway floors in a common area where multiple tenants utilize and walk through daily. It’s not at all in the lease etc…cut a nice deal and sure you got it. I’m not paying someone an immense amount of money to pay off their mortgage and to be their groundskeeper. Not a chance.

[@satoshinakamoto6647]

Not a chance? How else is he gonna afford his new million dolllar house lmao

[@abel4776]

But they are using it? Do I need to pay someone else to clean their toilet after they used it?

[@JustAlf87]

How do you get 180 units worth of down payments and closing costs in 9 years? 🤔. You gotta live somehow has youtube been that lucrative?

[@abel4776]

I would like to know too. I would guess he taps into existing property equity as down payment for his next.