1. Get pre-approved 2.Find your type of property 3. Find a good realtor 4. Start shopping 5. Start making offers 6.Getting offer accepted 7.Moving in 8. Repeat
@94nolo2 жыл бұрын
"find tenets" is in there somewhere too.
@ezflykha64154 жыл бұрын
Im buying a multi right now, house hacking is the way to go.
@ChandlerDavidSmith4 жыл бұрын
Love it!
@nathanmusic56573 жыл бұрын
if you have a multiplex fha home can you rent it while living in it right away or do you have to wait a year then rent it
@j_n74983 жыл бұрын
how’s it going?
@avapilsen2 жыл бұрын
Been a year. What's happening?
@joshuahuff18562 жыл бұрын
How did it go ?
@CaseyBurnsInvesting4 жыл бұрын
Man, I need some more liquidity to pull the trigger on the course. Currently house hacking and looking to go in on my first multi family next year to live in.
@ChandlerDavidSmith4 жыл бұрын
Get it man! Pm me and I can get you a deal 🤫
@sanjaygoopta4 жыл бұрын
Just got pre-approved for a loan and getting super psyched! Going to keep trawling through the videos again and making sure I'm making the right decisions!
@Quentlo4 жыл бұрын
Good luck man 👍🏾
@BrettShoemaker4 жыл бұрын
I’ve been thinking about pulling the trigger on this. Thanks for covering!
@ChandlerDavidSmith4 жыл бұрын
Ya! Go get it!
@SmokeyKingster4 жыл бұрын
I’m 20 years old and have just started putting offers in on a few duplexes in my area. Just be careful, it’s not just the down payment. Like he said at the end of the video you’re going to pay a good chunk in closing costs as well.
@Batt_Mrown3 жыл бұрын
How did you get started? I'm looking into House Hacking and I am overwhelmed but I have no idea what I am doing
@booptidoo3 жыл бұрын
Congrats on being in the position to look at places! I am closing on my first house, a duplex, next week. I'm paying just $7500 down, but with closing costs, I'll need to dish out around $14,000. YIKES!
@booptidoo3 жыл бұрын
@@Batt_Mrown Search online for realtors in your area! As mentioned in the vid, realtors are free until you actually make your purchase. Search for someone who has experience with multi-plexes. Make sure you're in an area with a good renter base (like a college town)
@stepanpoluianov98723 жыл бұрын
Did you start house hacking!
@javansarmiento71513 жыл бұрын
I bought my first duplex at 24 back in 2014 before it was called house hacking =]. I ALSO rented my spare room in my side of the duplex so thats like an ultimate hack :p. I ended up selling years later for a good profit but i do regret selling it in the end, looking to buy a 4plex next
@krillgaming40444 жыл бұрын
The fact that chandler does have 100k subs upsets me. Keep up the good work man!!
@ChandlerDavidSmith4 жыл бұрын
Thank you! We will get there!
@haydenkurie97663 жыл бұрын
Can’t you only have 1 fha loan at a time? So wouldn’t you have to have enough equity to refinance the loan from fha to conventional to go again?
@MsShelly322 жыл бұрын
Maybe someone can explain this to me.although he said cash on cash a million time, I don't understand. So 15%of the 25,000(his example)=3750.and over what period should you make this amount
@ryanwillis8933 жыл бұрын
I just bought my first property. It’s a single family home and the basement is an apartment! What are suggestions for insurance? Can I get a normal home insurance policy or do I need to do some kind of variation?
@montavio4 жыл бұрын
Can you show us the numbers with a 3.5% down instead of 25% return?
@ChandlerDavidSmith4 жыл бұрын
Will do
@lataviahill94033 жыл бұрын
When you say run the numbers what are you referring to I’m interested in starting
@jeffreyasiamah13153 жыл бұрын
Do you ever mention to the loan officer, the bank or the agent that your planning on house hacking?
@mikaelpappajohn17783 жыл бұрын
It doesn't matter. But what momma doesn't know won't hurt her.
@shujayethossain65544 жыл бұрын
Hi Chandler! Can you make a video on this topic please? If I make $60k a year and buy a $100k multifamily house every year, after buying three houses my income won’t support me to get another loan. What to do in order to keep buying more propeeties? Thanks
@krillgaming40444 жыл бұрын
What a great question
@agottschalk104 жыл бұрын
The properties you purchase will count as additional income if they make profit
@shujayethossain65544 жыл бұрын
Adam Gottschalk So if I buy a property that brings $1500 a month, means I can show $18k income every year and that will help me to get another loan?
@kamilsultan16374 жыл бұрын
Shujayet Hossain yes the rental income you receive from other properties can be used as income on a new loan. Over time, this will allow you to qualify for bigger loans! Do your research though as you shouldn’t take a person in the KZbin comment section for their word every time.
@ChandlerDavidSmith4 жыл бұрын
You rental income shows so your situation will get better not worse
@MelToll Жыл бұрын
But if you have a house under FHA loan, you can’t get a second one with an FHA, right? We are not planning on selling our main one for now, anyway the market is horrible right now for sellers. 10/2023.
@elchapi3663 жыл бұрын
My first home was a 150k town home, I got a 1st buyer grant so 15k toward dp and closing cost. Initial investment $0, lived for a year and rented out.. then bought another. at the time,I had no idea what I was doing .. now I realized I was house hacking
@t0kigh02t73 жыл бұрын
I want to do this but Denvers market is crazy expensive
@doloresmorales62094 жыл бұрын
Its key to find a good realtor. Most definitely.
@Meetchius4 жыл бұрын
Awesome video. I came pretty close to making an offer yesterday but I'm a bit nervous on the situation. The numbers make sense, but I would be submitting a curb offer without actually being able to see the property as it is currently occupied by two tenants (duplex). I understand that this is where the contingent inspection comes into play, but I am curious, what happens if I don't like the deal after the inspection? Is this just a loss of the inspection cost on my part and move onto the next one?
@anointedone54092 жыл бұрын
Just go for it
@alec10203 жыл бұрын
Does anyone know of any videos that go more in depth on how to run the numbers for this kinda thing to make sure they work, like a walkthrough or something that goes more in depth. Sry for the dumb question im new to this kinda thing
@jefferzea66922 жыл бұрын
How else can I house hack? I have a home with 2 kids and my wife. And I don't want to keep moving. How else can I house hack and get low interest rate ??
@zRaViHD3 жыл бұрын
Any discounts for the course?
@carlosamaral7222 Жыл бұрын
I see the book rich dad Poor dad in the background
@collanchavez2 жыл бұрын
You should throw in examples with numbers to help visualize this… 15% return?
@SachsRealty3 жыл бұрын
Always get a REALTOR! Thanks Chandler for great steps for someone to get started investing in real estate!
@lancesterling84474 жыл бұрын
I love CDS's energy. Priceless.
@rickandkayciaempireАй бұрын
I buy a house with 7 bedrooms I live in one room and rent out 6 🎉…. I’m no longer working …. But I have cash flow 🎉
@brianglm77324 жыл бұрын
Awesome ive been interested in doing this for a while
@LemonadeStand9912 жыл бұрын
If you do an FHA 3.5% down. How long before you can rent out the home?
@alondraeller62483 жыл бұрын
If you did put in work in the property and it appraise in matter of 6 months and you cash out refi, do you still have to live in the property though?
@Dheerudr2 жыл бұрын
Pls explain with example
@PORTEnSious Жыл бұрын
I'm so lost where to start ... as a 17 year old.
@benycool104 жыл бұрын
lets say i get a realtor, do i pay the realtor as a buyer or does the seller pay them commission?
@elmexicle577 Жыл бұрын
I don't think he under stands what pumped up is?
@josephwagner59963 жыл бұрын
Really informative
@SamariaLynn_3 жыл бұрын
I love being wealthy
@hassantraorey16203 жыл бұрын
I want to start house hacking, any advice?
@alexc49623 жыл бұрын
Sorry but can somebody explain the 15% cash by cash return please?
@sudakara23884 жыл бұрын
On FHA loan Is it legal to Rent part of house to a Family while living in small room in the same house ( Can the Tenant Kids allowed to go to Public School with that ) ?
@JRenee1412 жыл бұрын
I know I'm late but... from my research, as long as you're living in the house for atleast the first year it's fine. Tenant children should have no issue attending public school. All children in the country can attend public school, even children not in the country legally. Not to turn this political, just saying that to make the point that there should absolutely be no issue there.
@bebrooks114 жыл бұрын
1.25X people
@ChandlerDavidSmith4 жыл бұрын
Fair haha
@ramonr26993 жыл бұрын
Subscribed and liked...!!!! I currently have a 3 bedroom that I’m looking to refi and rent out. My next home will be a 3 BR again that I will rent out to roommates and repeat agin over and over. Even tho o hate roommates, your video motivated me to set aside my reservation and moving forward house hacking. Liked and subscribed!!!
@JRenee1412 жыл бұрын
Have you considered buying a duplex? That's what I'm working on. I'm currently the roommate to the owner of a condo and I've found that isn't 100% ideal. With a duplex I'd have a neighbor/tenant. A lot of areas don't have duplexes so I'm planning on relocating to an area that is both affordable and has duplexes.
@nba39272 жыл бұрын
bruh u didn’t even explain what 15% return meant …..
@ptuller993 жыл бұрын
some fucking wonderful content here
@lizvetchirinos24264 жыл бұрын
Any teens watching this?
@ColdComrade4 жыл бұрын
Chandler cash on cash return smith.
@timothyhsu94183 жыл бұрын
Do whatever, I won't sell.
@antonioalejandrogonzalezca86914 жыл бұрын
Can you house hack in Mexico?
@supremeaction90263 жыл бұрын
Less intro more talkie
@fx1337.w3 жыл бұрын
Spit it out dude stop rambling
@Blitz3O24 жыл бұрын
Friendly adblock reminder
@ChandlerDavidSmith4 жыл бұрын
What does this mean?
@Blitz3O24 жыл бұрын
@@ChandlerDavidSmith Everyone should use adblock when watching a Yt video. Just helping the people out ya know?
@lifestylesfitness94033 жыл бұрын
You do 3% down first time house buyers
@CodySteckRealEstateVideos4 жыл бұрын
House hacking is the bomb. I’ve done it on my last 4 homes and still doing it. It’s helped me build up to $3,300/month in net cash flow
@Quentlo4 жыл бұрын
How long did it take to get 4 homes?
@CodySteckRealEstateVideos4 жыл бұрын
@@Quentlo 5 years. (I've moved every year since starting)
@steveday50384 жыл бұрын
@@CodySteckRealEstateVideos who is your lender?
@aishagranger13913 жыл бұрын
Where do you look?
@RunnersUniteCoaching3 жыл бұрын
@@CodySteckRealEstateVideos you do fha every year and did you refinance to conventional loans on any properties?
@JackDuffley4 жыл бұрын
House-hacking is how I got started less than 2 years ago! The savings allowed me to buy my first "true" rental last week!
@steavenjosey4 жыл бұрын
Good stuff bruh cant wait to do the same. How does it feel to be a landlord?
@JackDuffley4 жыл бұрын
@@steavenjosey It feels less odd when you have already "practiced" with house hacking, but I just treat it like a business. I am offering a service and I have to find a way to keep bringing in quality customers.
@alexandermbot94674 жыл бұрын
Awesome man, I hope you the best, this would be just the beginning of your rental business
@JackDuffley4 жыл бұрын
@@alexandermbot9467 Thank you!
@compilationnation69434 жыл бұрын
How long so you have to live in the property
@gregsmith49623 жыл бұрын
I'm living in a house now with a family of six but I would really love to house Jack a duplex or triplex. This is giving me motivation
@jwalk9372 жыл бұрын
Chandler this was the last push I needed i sold my single family last year freeing up my va loan and im closing on a triplex February 10th 2022 that I'm purchasing with my va loan 0.00 down thankyou so much. Were going to do this 4 times and buy our single family dream home at the end.
@AberrantArt3 жыл бұрын
QUESTION: After the first year, will that first property affect your debt to income ratio or negatively affect your ability to get another loan?
@kanonbolt1003 жыл бұрын
I'm interested on this too
@vancefamilypassivebusiness86452 жыл бұрын
It will negatively affect your dti if you don’t pay taxes on the cash flow. If you do pay taxes on it, it will boost your income. Also you can only get one fha loan at a time so you would need to refinance into a conventional so you can house hack again
@ericksanchez47822 жыл бұрын
Yes, I am currently house hacking (third month in) and have learned a lot in the process so far. The rental income WILL help you out, however you must have 12 months in rental income flowing in before they can consider adding that income to yours, HOWEVER even so, only 30% of the properties rental income can be added to yours after a year has passed. The real challenging part will be trying to buy another property through a bank via conventional financing because even though the rental income will help you out, your debt to income ratio will grill you from the first property so either you'll have to find another super high paying job or you'll have to really save a lot of money in order to purchase your next property. I've made up my mind and have determined that I will be pursuing hard money lenders for fix n flippers or brrrr properties with hard money as well, since that way those kinds of lenders are more focused on the deal and investor instead of your debt to income or even your credit score.
@lorenceman4 жыл бұрын
Best explanation of the House Hacking strategy right here 💯Thanks Chandler! Currently in the hunt for a multi-fam deal!
@ChandlerDavidSmith4 жыл бұрын
Thank you!
@startingfromscratch14634 жыл бұрын
After I get my first property what I have to do to get my second property what are the steps what kind of loan are out there
@ChandlerDavidSmith4 жыл бұрын
Just repeat. You can do the same thing
@hfarthingt3 жыл бұрын
Probably a question for a lawyer, but can’t I intend on occupying as primary residence and then move in for a month and then decide I for whatever reason want to rent it out and live somewhere else?why is 12 months any different then 2 if the intention was to primary reside?
@Xkea14 жыл бұрын
I'm 20 still in college , trying to educate myself on real estate. I'm hesitant to get into it now ,I've been hearing that the housing market is going to crash . What's your take on It if you don't mind me asking.
@tonysvisuals4 жыл бұрын
Will be closing on a triplex and will be taking over existing leases for two other units looking at 13% ROI for year one after some mantience and slight renovations. Year two I'm projecting 64% ROI. Know your numbers. Know what your buying. I'm 20 and will be starting college online and working full time.
@ChandlerDavidSmith4 жыл бұрын
In my market it won’t crash and even if it does it will be years down the road. Every sub market is different than the market as a whole and if you buy right it doesn’t matter either way
@senpainft68604 жыл бұрын
What’s your take on buying a 2 bedroom apartment/condo and renting out the other room?
@DiaryofanIntrapreneur3 жыл бұрын
Loving your videos Chandler! Probably the most educational content I have experienced. Buying my first investment property this year via house hacking and I will definitely have to thank you when the time comes!
@agtj90193 жыл бұрын
Love your KZbin videos and even better your course I got from day 1. Wanted to know if I could send you some deals of house hack I was looking at via through the course? Thanks brother.
@daniamsalem4 жыл бұрын
Excellent timing on the video, I just started researching this yesterday. Can you also provide a definition for cash-on-cash return? I believe I understand it but after hearing you say it in most of your videos, I’d like be certain I know what you mean.
@kamilsultan16374 жыл бұрын
Dani Amsalem your annual cash flow/down payment I believe
@ChandlerDavidSmith4 жыл бұрын
Thank you! It’s in a lot of my other videos but I will hit a video soon that recovers it
@albanianboss5914 жыл бұрын
First
@ChandlerDavidSmith4 жыл бұрын
Nailed it!
@steveday50384 жыл бұрын
Hello Chandler, Im still watching and learning from you everyday. I have a question regarding hacking. I currently have a triplex with a V.A. loan. How do I house hack from here? All lenders are saying they dont believe i am moving. They want 25% down and 6 months in reserve on a multi unit property. They say they dont believe i am moving but have no issue believing me if i get a loan for a single family home. Im getting frustrated because i am a disabled veteran and feel like they are trying to take advantage of me.
@biginvestment82994 жыл бұрын
I have the knowledge on how to house hack, do you have any video on how to analyze the home?Great content btw 👍🏾🔥
@ChandlerDavidSmith4 жыл бұрын
Yes, multiple on my channel but I will always be making more
@realestatewithlarissa4 жыл бұрын
I'm so happy to see your channel growing!!!
@ChandlerDavidSmith4 жыл бұрын
Thank you! Means a lot!
@shanelaque70502 жыл бұрын
It is a great method but those numbers are not totally accurate. 3.5% of the loan is only a portion of the cost it takes to actually purchase a home or multiplex. There is still transfer taxes, title company payments, earnest money, home inspections, broker fees, realtor fees, ect. It was roughly $12,000 JUST to cover the closing cost of my 550k luxury property with lock off. Total to get into the property was close to $50k and the property cash flows about $1,250-$1,500 a month. Still worth it for sure but be ready to drop the cash.
@achrafabouras21183 жыл бұрын
Do you have a video to help understanding the numbers?
@marcelrodriguez20673 ай бұрын
What happens when you have more then one property and more then 1 of the tenants stop paying for months and you cant affors to pay for everything?
@nate6405 Жыл бұрын
Please tell me the steps on how to get people moved in
@nathanmusic56573 жыл бұрын
if you have a multiplex fha home can yiu rent it while living in it or do you have to wait a year
@travis35672 жыл бұрын
No mention of property management, finding renters, etc. terrible video. Tons of time spent repeating himself talking about the numbers needed to make it work on a theoretical property…
@hacker4chn8414 жыл бұрын
Chandler, how does one convince your wife to move after a year of living in a place? Getting married next year I'd like to do this twice before before we go for a single family home (thinking a duplex to start then a 4-plex). I'm just worried she might not be inclined to moving that much.
@Emmamafii3 жыл бұрын
Thanks you for the video. I like how you use counter questions to make sure you are touching all the basis. As a beginner this is really helpful.
@thomas-sinkala3 жыл бұрын
Miss. Chanadler Bing comes to mind.
@keithmarcion71212 жыл бұрын
Chandler, I really love your videos and the energy you place in them. Always great content.
@PuraVidaMasVida2 жыл бұрын
What does he mean by cash on cash return?
@elmondl.richards87083 жыл бұрын
Ur not Spencer Cornelia, I’m out
@AsahelEB2 жыл бұрын
Okay the video in 1.25 speed
@troygrudintfgrudin16304 жыл бұрын
What about finding someone to rent the extra rooms/units?
@auguykal88714 жыл бұрын
How can I contact you
@Recaplifebro3 жыл бұрын
When he says about a 25% down and a 15% return he means when you sell the property again you will get a 15% return ?
@ulisesmeza84943 жыл бұрын
I’m also confused about this
@babbahassa3 жыл бұрын
No 15% cash on cash return
@MrJuandiego19883 жыл бұрын
On a 30 year mortgage?
@andreaswidstoe4 жыл бұрын
What happens if I house-hack a home, use it as my primary residence for 2 years, and then decide I want to move and rent out both units on my property? Can I get another loan for my primary residence? Do I have to refinance or something and disclose that it's no longer my primary residence?
@andreaswidstoe4 жыл бұрын
Lol, should have listened to the whole video first. Just saw that you said after 1 year you can move out. Is there anything else to be aware of in this situation?
@kamilsultan16374 жыл бұрын
ThrifTecher I’m not sure if you can have more than one FHA loan at once. So if you move out, you may have to either switch your FHA to conventional or put a bigger down payment on the second property in order to get a conventional. There are a few exceptions and I would look into it more to be sure if I was you.
@kamilsultan16374 жыл бұрын
Watch “4 Ways to have 2 FHA loans at the same time” -Win the House You Love
@kamilsultan16374 жыл бұрын
I forgot to mention you’re going to have to increase the value of your home through forced appreciation if you’re going to convert from an FHA loan to a conventional since they require at least 20 percent equity I believe. A property that needs cosmetic repairs would be ideal for this. But I’m just a guy in the KZbin comment section so so your own research!
@ChandlerDavidSmith4 жыл бұрын
Nope, you just leave it with the same loan and You can go and get another
@DavidDelahunty4 жыл бұрын
Appreciate the video! Love the idea of house hacking.
@ChandlerDavidSmith4 жыл бұрын
Thanks! Glad you like it
@RAJEEKAG3 жыл бұрын
Hey guys Jesus loves you He wants you to come as you are He died for your sins past,present,and future. He was buried then rose again on the third day so you can be saved,so that you can have the free gift of Salvation.If you want God in your life just seek Him truly put your faith in Him and accept Him as your Lord and savior.It is by God’s grace you can be saved❤️‼️💝🙌🏾‼️❤️🎉❤️‼️
@TheWarehouseSeries3 жыл бұрын
Can I go 50/50 with my 18 yr old old daughter and buy a duplex where she lives in one side and still pay 3.5%?
@YaniAmorX3 жыл бұрын
How can we make sure our numbers work? Do you have a video on “the numbers “
@infamousapex7600 Жыл бұрын
I literally have no idea on real-estate vocabulary such as “cash on cash return” but I still watch the video as if I know 😂
@kennethcaneza54803 жыл бұрын
Should I look for brandnew properties for house hacking? or maybe consider taking those old properties or maybe foreclosures?
@jvak9953 жыл бұрын
22 years old and converting my 2 stall garage into a 1 bedroom house to rent out
@MidCali8313 жыл бұрын
Can you buy a fourplex 3 hours always from your primary home and live in the fourplex, rent out the rest? Main job is near the primary. Second house is where my business will be.
@20stevieray4 жыл бұрын
Great video
@ChandlerDavidSmith4 жыл бұрын
Thank you!
@VinMotors06132 жыл бұрын
FHA will always have a pmi in the loan unless you refinanace to get out of the loan. My suggestion is to do conventional 5% down, so you can get pmi removed based on loan balance or get appraisal to get pmi removed after 2-5yrs of keeping the conventional loan.
@ilikemath68344 жыл бұрын
Any advice for Canadians? Or do you know any great investors like yourself that are Canadians and do the same thing on KZbin?
@supersoaker3753 жыл бұрын
Look like Wayne Rooney’s son
@carmenwooten35103 жыл бұрын
the color-coded books in the background are so satisfying