Buying A Duplex | What NOT To Do

Learn about the mistakes made in the purchase of this duplex and how you can avoid them. This video shows you how to find, purchase, and manage a duplex as an investment property. It will show the pros and cons of duplex investing. It will also show mistakes made along the way and how to avoid them when investing in a duplex or and multi family real estate.
Chandler David Smith purchased his fourth investment property when he was in his early 20s. This video shows how he found this deal, how he negotiated the price, how he closed on it, and the big and small mistakes he made. The point of this video is to show a lot of the things that Chandler wished he did different. He will talk in detail about the mistakes he made and how he has and will correct them moving forward in his real estate investing. This video will talk about the pros and cons of investing in a duplex and any form of multi family real estate. It will also explain the mistakes Chandler made and the things he would have done differently if he could do it all over again. This video was made to make real estate investing for beginners easier, to alleviate the unknowns of real estate investing, and to show everyone that you have to start somewhere. If you enjoy the video, remember to like and subscribe!
To learn more about a job opportunity for summer sales just as I did, go to:
www.elitesummersales.com/
To learn more about Chandler David Smith and real estate investing 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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[@carrowxhex6891]

I list my rentals as “Senior Living”. I rent to people 65 & older on fixed incomes only. Economic downturns don’t apply to them and they care more about a good air conditioner unit than they do about modernization.

[@jalabi99]

Senior Living, group homes, and Section 8 are solid.

[@mostmost1]

@@jalabi99 especially now

[@JudePhilips]

Oh shit this is smart as fuck

[@sosimple7594]

Wise

[@carrowxhex6891]

@M W Texas. Don’t know, don’t care. I have never had anyone 65 & younger apply. Nobody complains about it.

[@scoo-bdoo8669]

I like it when you said, "take care of your tenants" because you are doing the right thing to keep everyone happy. You are one great businessman.

[@ChandlerDavidSmith]

Thanks!

[@sexygabby30]

That caught my eye... as more need to have that mindframe

[@TV-wy1py]

Play at 1.25 speed and that'll be normal bc normal is sloooooooow like stoner slooooooow🤦🏽‍♀️

[@HopeConnectOrg]

T V I’m from NY and 1.5 sounds normal 😂

[@lsplune6245]

Lmaooo facts just about to comment that 😭😭😭

[@HopeConnectOrg]

Lsplune 📠 🐝

[@w00borg34]

hes trying to get the full 10 minutes for the monetization

[@SpxceCxffee]

Came in clutch , he was talking so slow , I was about to leave this video

[@MrBriansAmazingWorld]

Duplex's are the best...Can't wait to get more.

[@ChandlerDavidSmith]

Mr. Brian's Amazing World They really are! How many do you have so far!?

[@DavidMiller-du9dy]

REITs are also a great avenue for building passive income and can help diversify your investment portfolio by holding a different asset class.

[@kelvinjohnson3906]

It truly can bode well for investors seeking higher yield.

[@nicktony2293]

The stock market is quite risky, some stocks can be quite volatile.

[@jamesowen9384]

@@nicktony2293 That’s exactly why you need to be prepared to ride out market volatility. It may even be an opportunity for you to profit. All investment is risky.

[@ethansmith2499]

Ultimately, the best investment is the one that you’re comfortable with, that suits your objectives, and overall portfolio. The stock market has potential for long and short term growth.

[@anneparker4436]

I’ve bought lots of stocks that seems like there’re gonna generate good profits but they always end up performing poorly.

[@alexjedlicka8567]

Great advice will definitely use this strategy in my early days of real estate investment. At 17 it’s a little hard to buy a property so for now I am studying.

[@callmekells802]

Chandler, you have been absolutely nessecary on my real estate investing journey. Thank you for being a natural mentor. We need you!!!

[@anhrestuarant]

If you change a billion lives, that's the formula to becoming a billionaire. Loaning, adding, giving, sharing, providing value creates wealth - of mind, heart, soul and yes, finances but it starts with the value you give. Love it

[@davestargazer]

Cleaner the unit the better the tenant usually works. Fixing up those front steps with some Cement All or equiv. will help

[@BuuBot]

Pro tip: Watch the video at 1.5x speed

[@mydailyburger3924]

Really encouraging! Subscribed! Thank you so much, Sir, for sharing your experiences with us!

[@aquarianage3953]

You might be THE online real estate mentor I've been unconsciously looking for. Your counsel is plain, straight, candid, and best of all, comes from real-world experience.I gave you a thumbs-up, and I'm subscribing.👍

[@ChandlerDavidSmith]

Aquarian Age thank you so much! That really means a lot!

[@johnf.hebert1409]

Great video, but you talk like a counselor at a jesus camp trying to get me to think the Lord is rad.

[@ChandlerDavidSmith]

John F. Hebert the lord is rad 😘

[@davidparker4577]

The Lord is awsome!!!

[@ChandlerDavidSmith]

Kristen Levine thanks! Will do!

[@ChandlerDavidSmith]

David Parker 🙏🏼

[@MrCubansurfer]

🤣🤣🤣🤣 Oh Lord Jesus!! 🤣🤣🤣

[@ponzianomanning3071]

Great video! Id rather listen to slower explanations than the hyper fast talkers common today where I miss half of what's said: Your style enables me to absorb more info. Don't change a thing. Thanks Chandler!

[@mrhockeysniper20]

I love the details in your videos, subscribed

[@maximizedmoney]

Super helpful! I’m under contract for an owner occupied duplex now and a little nervous about tenants. I’ll make sure to save save save so I’m not stressing over the wrong tenant.

[@SydneyScream]

Exactly, never get complacent!

[@taylorsessions4143]

Haha! This was totally matching my experience and then you mention you are in IF, small world, that's where I'm at as well. Thanks for sharing

[@lvteachme973]

That has been what I have said about rental property: If you make it appealing as appear as if you "care about it", you will attract and only sign quality tenants.

[@ChandlerDavidSmith]

LV Teach Me love it!

[@robertdavis3433]

Nice rentals will attract all types. U have to do ur due diligence. Cant trust ur rental or renters.

[@dylanmallett2547]

Great video, and great advice. Subbed.

[@alexfv5791]

Awesome content, thanks!

[@topcomment3816]

Good video! With today’s interest rates, my duplexes cash flow so well. My favorite one was a craigslist lead similar to yours. I showed up fast and sold myself. $110k purchase price. $1600 market rent. Good location.

[@ChandlerDavidSmith]

Top Comment love it! That’s awesome! They are the best!

[@KidCity1985]

Nice, where are you?

[@topcomment3816]

Julie Anderson North Florida

[@KidCity1985]

@@topcomment3816 thanks.

[@allenlamb8240]

@@topcomment3816 I'm in North Florida as well. I'm in Jacksonville. Looking to purchase my first home via a FHA loan and hoping to buy a duplex or even triplex. Are you able give me any insight?

[@brianbordenkircher52]

Thank you for your example!

[@vicwillis4295]

Thank you for sharing. In shoddy parts of town some people with low income are great and want to take care of their home but often the opposite happens. Imagine renting to college students who party every weekend

[@301larussomusic]

Appreciate the honesty

[@shakysliders1689]

Hi Chandler, thanks for telling us about your mistakes so that we can learn from them too! I've got two questions. Do you or your management company approve the tenants? My management company won't approve anyone unless I've looked over the application and given them my approval. And second, in the case of that eviction, is it worth your time to sue the tenant after they've been evicted for lost rents, legal fees, and damage repair costs? I realize you would be unlikely to recover any money, but maybe the outstanding debt/judgment on their record would alert the next landlord they try to scam. Thx

[@ipeteagles]

informative. thank you Sir

[@sergeysovenok3126]

This content is priceless.

[@slow-moe3518]

This is another proof that location is everything. Buying in crappy neighborhoods is always a risk.

[@ChandlerDavidSmith]

Some truth to this. This neighborhood can be great if you screen tenants properly and take care of your property

[@boxerboy860]

Only if you rent to people that are scared to live in “diverse” areas

[@thedailydividend3122]

@@boxerboy860 well it’s not really diverse areas it’s just high crime areas

[@jmemixx]

Maybe maybe not. If the person renting is from the area or knows the area sometimes they can be a good tenant because they know the neighborhood and know how to keep safe and know the ins and out

[@Realtalknewyorkwithjanique]

Good speaker I watched straight through

[@bradyousley897]

I like how it doesn’t feel like your trying to sell me something while I watch your videos.

[@tonys7675]

You’re

[@michaeljefferson3041]

I bet that the thumbs down are the people who bounce from apartment to apartment every other month.

[@palomagarcia6489]

I want to hear about what you mean about “Sprucing” the property after tenants

[@yasminbanhan8884]

Great job love your videos

[@ChandlerDavidSmith]

Yasmin Banhan thank you!!!!

[@Winston0Boogie]

I just found your channel. Thanks for all your information, man.

[@ChandlerDavidSmith]

Thanks for watching!

[@WOok2a]

I’m so jealous… I own rentals but they are all cash flow negative since I went in for the appreciation. Since I’ve found this channel, I can hopefully do better on my next one.

[@holdupfareal8353]

New sub from Meet Kevin and the lesson you learned from the wrongest tenants ever. Excited to be here. 😇

[@404TRUCKERTV]

You did ok. you got him back at closing lol. I usually dont haggle about a few bucks on a buyhold deal. you get that back once its rented. its principle though.

[@babyhuwe05]

Have you ever thought of using Section 8 tenants for units that are not in the best areas you are guaranteed payment plus the tenants have to keep your unit or units up to a certain standard or they will lose their Section 8 voucher so even though it's not the best area they have to keep your unit decent

[@jononfirebudgetinginvestin3897]

Yeah this is my big fear....I saw a small property that I saw potential in, but my partner quickly told me that it was in a sketchy part of town and we were concerned about the quality of tenants we would get

[@antwanjones388]

Great video 💯

[@Kylescuro]

It was YOU. Not your management company. Manage your management company. You set the tone. Learned that from Jocko Willink and his application of extreme ownership. On a side note, this was super informative! Thank you for the looking glass into the experience you’ve had. I feel more prepared now going into a similar situation.

[@andydrew3320]

100%

[@JakeAlbergotti]

Excellent video

[@gilbertjean-louis4826]

Thanks a lot 🙏

[@OBRfarm]

Good video. Getting started and renters seem to be the biggest issue.

[@9818003890]

Very nice video. On a attached side by side single level duplex subdivision, would you prefer to do strata title subdivision or torrens title on these 2 dwellings. What is pros and cons of each option from maintenance and after sale perspective. Some builders prefer to do Strata title ownership...is it because of CDC process instead of DA. From a investor perspective who plans to build these opportunity what is critical here?

[@dawnmurray6945]

Great podcast

[@ianscianablo8507]

Hey Chandler! What other improvements could you have made, in between screening new tenants? Thanks!

[@brandonlee934]

What do you look for in a property management company?

[@Candyman11454]

Whats the background music for this video? It's fire

[@evoremedy8722]

Thanks for being honest about everything!

[@ChandlerDavidSmith]

Mike Ruiz thank you! Thanks for watching!

[@pianokeyjoe]

I keep running into videos on THAT duplex with those bad tenants lol! Me thinks this is a clue though I will NEVER be a land lord.. but still a valuable learning lesson for those that may be contemplating being a land lord ;-)

[@ChandlerDavidSmith]

Get a management company and all is well ha ha thanks for watching

[@magicportugal5833]

@@ChandlerDavidSmith how do you get one?

[@thaddeus1519]

I'd imagine places like Idaho, Ohio, etc have duplexes every where. How do you find a quality duplex / hackable house deal in super high market areas like SD Cali or SF Cali?

[@VoltairesRevenge]

Ikr

[@kevinready3948]

Watch at 1.75 speed just to get through this lol

[@ChandlerDavidSmith]

Haha sorry. Slow talker 😜

[@kevinready3948]

@@ChandlerDavidSmith no worries! Solid content. In the process of buying a rental property with my brother so this type of content is priceless.

[@starcraft2replaysstrategie180]

Great video

[@ChandlerDavidSmith]

Thank you!

[@gregwood7120]

chandler,just found you...very good channel.i have been watching meet kevin for awhile but cant relate to getting started.can you walk a beginner thru the first steps of how to find financing,what the basics are to start.who helped you finance as you went along.thx

[@ChandlerDavidSmith]

Great idea - I’ll get on it 👍

[@alphawavesready6639]

Hey Chandler, as an absolute beginner which video should I watch first

[@johnjoe_247]

Thank you for this video and ending it on an upside note :)

[@ChandlerDavidSmith]

John of coarse! Thanks for watching and commenting!

[@amiller35]

hey chandler great video! you said you were renting this duplex for around 1200-1300, was that per unit or 1200-1300 split between the two units?

[@ChandlerDavidSmith]

Alex Miller for both units combined

[@zach4216]

Beast mode.

[@ChandlerDavidSmith]

Thanks! 👊🏻

[@luckyandblessed]

I like your video. 💖

[@michaelking42]

Great video, thank you. I have 5 SFRs, getting ready to close on my first 4 plex. I think multifamily is the direction of my future.

[@ChandlerDavidSmith]

Michael King thank you! Congrats!

[@KidCity1985]

Look for a 12 unit.

[@michaelking42]

@@KidCity1985 Is 12 the magic number? Why 12? Why not bigger?

[@AbhayFernandez]

Amazing video! Thanks for sharing :)

[@ChandlerDavidSmith]

Abhay Fernandez thank you! Glad you liked it!

[@kiorq]

Quick question. At this point, you have some properties and looking into another one. You still have bank loads right? 1. Is it normal to have multiple active loans for all your properties? Whats your perspective having multiple loans? One of my biggest fears is just having multiple loans, but I’m slowly starting to learn the concept of good loans 2. If you make a purchase and realize later that it’s a bad investment, given that you still owe a loan for said property, how do you go about getting rid of it?

[@HappyTimes024]

Little late for a reply, 1) completely normal to have multiple active mortgages open. If your have your credentials aligned the bank will have no issue loaning you anything as long you can prove you can pay it back. 2) if you decide you made a bad decision On the property and no longer can hold tenants or afford to own it, you must sell the house yourself through dealing with closing costs Etc to get rid of it or you’d have to give it back to the bank

[@froggygamer1716]

I go to idaho falls all the time. Can be a crazy place

[@tinainnca]

@chandlerdavidsmith Love the background music mind sharing what it is?

[@MCrelationz]

what exactly is a management company how does that work? what all do they do for you and is something like that pricey?

[@rondapierce6215]

Chandler please could you tell us how to find a good property management company and pros and cons of having one

[@vakistagoodman7984]

Just bought my first duplex! Excited & terrified!!

[@dnafpv]

How’s it going so far?

[@vakistagoodman4917]

@@dnafpv Best decision I ever made...booked solid my first day listing

[@bucknut6631]

I am about to buy my first duplex. Wish me luck

[@JakeandJesset]

Great info, thanks for sharing! You deserve more than 12k subs for the knowledge you are sharing. Hope that sub count grows for you in 2020 bro!

[@ChandlerDavidSmith]

Thank you so much! 🙏🏼

[@williambonner3315]

You see how many he got now?

[@robertdavis3433]

Im in Sacramento, i own a duplex in a bad neighborhood. You really have to dig deep into the tennis background before handing them the keys to the castle but you always will make money on the deal

[@officialspaceefrain]

What racket would you suggest I use?

[@user-em2tt1js3r]

Nice 👌

[@alejandrodelafuente7093]

Great content! Do you have a separate fund setup to pull from when tenants don't make their payment?

[@ChandlerDavidSmith]

Alejandro De La Fuente thanks! Yep! Always keep reserves.

[@ibillyduncan3512]

You were on point with all all the information which you provided. This has to be the BEST video/ advise seen or heard. I HOPE EVEYONE LISTENED CAREFULLY. ABSOLUTELY GREAT !! I must admit I'm not a huge fan of background checks. I've had tenants with the best of backgrounds and worst as a tenant. Advice, I view a potential tenant as a homeowner. How well this tenant would take care of my property ? Will they have the ability pay their rent on time? Assessment, and common sense. 95% of my tenants are 7yrs or more.

[@ChandlerDavidSmith]

Ibilly Duncan thanks you! That really means a lot!

[@Kelalasdemonx]

where is the advice lol

[@ibillyduncan3512]

@@Kelalasdemonx Im sorry ... Seek and yee shall find.

[@ChandlerDavidSmith]

Ibilly Duncan haha thanks!

[@ChandlerDavidSmith]

Kirarasdemonx what do you mean?

[@oshitomaha]

After how many properties do you think a Property Management company is needed? How much is it monthly?

[@stanleybrown1151]

I know people always say that there is a great deal everywhere but I can assure you, there is no duplex for under 90k around where I live. Cheapest I can find is 140k.

[@ChandlerDavidSmith]

50 K different shouldn’t keep you from getting into property if you can find the right deal! I understand some markets are more expensive than others but you can always find a way to get into a good deal! Good luck!!

[@kennythomas6770]

Were r duplex for 140,000 at

[@stanleybrown1151]

@@kennythomas6770 Tennessee but very few at that price

[@stanleybrown1151]

@@ChandlerDavidSmith true but when you put the numbers down and the ROI isnt where you need it to be, you have to back off. I'm not good at a lot of things in life but I do know this... numbers never lie.

[@Ditronus.]

Give a shout out to your management company to get them some more business if they are doing well for you? Thanks for the videos. Found your channel the other day and I've been enjoying it.

[@rylanadams7016]

What would you do if duplexes in your area ( Florida ) are anywhere from 300,000 - 500,000 dollars? Is that even worth getting into at that point? For instance, if you could finance a 350,000 dollar duplex or even 400,000 as a first time home buyer... is that even worth doing?

[@theChaseGroup]

Hey could you do a video on the entire eviction process in Idaho?

[@ChandlerDavidSmith]

Paul JAY C yes! Will do!

[@smallnuts2]

Do the renters oay property tax? If they live in it for years, do they fix the ac?

[@psbeats5393]

what management company do you use?

[@kylegrimm]

Love the channel! I’m starting to make similar videos 😀

[@ChandlerDavidSmith]

Thanks! Congrats!

[@kennethporst4359]

Don't get lesnient....stay firm on Tenant allowing 👍

[@2_572]

How do you even go about buying one and getting contracts??

[@pinkbearwho]

How much did you save up before you bought your first duplex?

[@magacop5180]

Is it better to buy property or Bitcoin?

[@bobbybands1928]

I’m looking to get into this, but for 1/2 a duplex it’s over $300,000 and I live in northwest Indiana.. if they were going for 90k it would be much more manageable. Especially considering rent wouldn’t be more than $1,500

[@jacobbehunin]

Greetings from a Fellow Idaho Fallsers! Im looking to get into my FIRST rental property this year. Still learning as much as I can. Would love to buy you lunch and pick your brain!

[@Sc19869]

How do you make profit when paying the duplex off

[@lilianaarevalo7843]

I rent to active duty military members only .. and I can call a tenants commanding officer or x.o should I have any issues or need to address anything that requires such support

[@JoseSanchez-df8hb]

Do you have any videos on management companies??

[@ChandlerDavidSmith]

Jose Sanchez yes!

[@Muuchomas]

Why homie talking like his mom gonna ground him if he too loud

[@ChandlerDavidSmith]

Hahaha what?

[@KJ-gr6ho]

@@ChandlerDavidSmith your talking loud enough he might be loosing his hearing

[@dylanmallett2547]

Chandler David Smith very well spoken. Keep it up 🙏

[@Ricebow11]

I have a Dumb question but what exactly does it mean when you say you have a "management company " ?

[@kingme412]

I am currently looking at a Duplex and nearing closing. It is 120,000$ each tenant pays 650$ a month to the current owner of the duplex

[@ICEMAN904x]

I know exactly what you did as the story unfolded

[@clarkt9925]

How many dollars per hour were you making with your property? How many hours per week would you think or work on a property?

[@Amada__]

As a first time investor, would it matter if the first investment I purchase is a fourplex? I plan on going the FHA route. I was also wondering how your credit should look if I were to go through the FHA route?

[@lvteachme973]

I don't believe it is a right or wrong property type to begin investing; however, it is better to grow than to start large. Also, you know your personality, lifestyle and goals better than anyone else. Use these indicators to determine how to begin investing in real estate. As for credit score required for FHA, I believe it's 620. It is best to order your credit report from the three credit reporting agencies before applying for a loan. Go to www.annualfreecreditreport.com. By law, you are entitled to a free credit report from each agency once a year; and if you are denied credit, you can request a free copy from the agency used by the company that denied you credit. My first rental was a two family. I purchased it on a great land contract deal from seller who were longtime friends of my parents. Although the deal was sweet, my experience as a rental property owner was disastrous. I sure learned a lot from the experience though: what to do and what not to do. It took me ten years to get back to real estate investing. At that time, I purchase a single family from a business associate on a land contract with great terms. Now, I am looking to purchase more real estate at a larger scale.

[@amiller35]

it's really up to you and what you feel most comfortable doing. i'm in the same boat as you. plan on getting my first property next year after my apartment lease runs out and go the house-hacking route. currently weighing the pros and cons of going the duplex, triplex, or fourplex route.

[@amiller35]

@Fart Zilla i've read about this strategy. i'm torn between doing this or just saying i'm the owner.

[@hilariomuniz4791]

What did you end up doing Amada?

[@jodavinci1208]

How much is the mortgage a month??? With everything included ?

[@masonsanimals2161]

How can I find a management company

[@bmarlatt]

this is way better to watch at 1.25 speed. My only complaint is that you talk too slow. Thank-you KZbin. also good information.