How to Buy Your First 4-Plex (step-by-step)

[@freedomfan]

I own a few properties in Iowa and one in Pensacola FL. Never raised rent on a tenant or charged for application fees or late fees. Always gave the full deposit back. I try to not stress people financially especially if they are college students or have kids. In return the leave my property in better shape than I gave it to them. I could have made a few thousands more squeezing every penny out of them, but the sense of reward I get by treating them like humans is priceless to me.

[@IWBVS]

All pretty good tenants? Some of ours have been entitled and very unappreciative of what they have.

[@vStr1ct]

God bless you

[@RDM1113R]

Give me a chance.

[@eliubfj]

Never raised rent? That's not how it works chief

[@mermaidmia8499]

Great job

[@tylergorsuch6418]

As a realtor I would give this video my sign of approval

[@keyvonk98]

Just finished college last December. Just got my pre approval about a week ago and now I’m starting to look at 2-4 units. Very excited!!

[@doordiariesre]

I appreciate how informative and well-researched this video was. It's clear that you put a lot of time and effort into your content.

[@armandorios6460]

As a Loan Officer i can agree 100% on the negotiation side. I always recommend my friends and family to compare at least 3 different style of lenders( bank/credit union, Broker, and Direct lender exp. Quicken loans) you will find out just how much you we’re getting overcharged asap. Make sure to pull your credit and get an actual LE from all 3 or else your waisting everyones time.

[@BG-jg4pt]

As an LO for rocket this is true. We will not match or try to beat an offer unless you have a loan estimate. We have only so much negotiating room the only way we can shoot you to our markets team is if we can see an LE from a broker or credit union. Also make sure that you’re comfortable with who you are working with. The cheapest lenders come with a price. How available are they? Do they service the loan for its whole life? How quickly can they close? Also check the rank of the banker you work with. Most companies bankers have titles which match their competency. Mortgage pricing is not as straight forward as most people think and I have a made a career getting loans to work other lenders or even fellow bankers could not get to work simply by having higher guideline and product knowledge.

[@dayd7892]

What’s LE?

[@justinrobertson9638]

@@dayd7892 loan estimate

[@LoZu-vz5rj]

@@dayd7892 Loan Estimate

[@InfamousKiddXD]

Le?

[@Adams52523]

Almost everyone, including the media, is anticipating a market catastrophe, and as a result, many are turning a blind eye to the opportunities in the market. I began investing in stocks and Def earlier this year and it is the best choice I've ever made. My portfolio is rounding up to almost a million and I have realized that when a stock makes it to the news, chances are you're quite late to the party, the idea is to get in early on blue chips before it becomes public.There are lots of life changing opportunities in the market, maximize it

[@doriradden483]

What opportunities are there in the market and how do I profit from it?

[@1Azul_wells]

​@@doriradden483You can make a lot of money from the market reg ardless of whether it strengthens or crashes. The key is to be well positioned.

[@henrypatterson1281]

​@MichaelPraise-bm3dmAll you need is a good capital and the service of a professional broker, with those your investment will most certainly produce high yields.

[@DavisFreeman-nu1cu]

​@@henrypatterson1281Do you have an idea of any good broker I can start with?

[@nobleclinton8305]

I would suggest Patricia strain, my current broker. Her services are excellent and her returns are great. I looked her up after seeing her on a CNBC market interview

[@gtcam723]

Ok, but how does preapproval work when trying to use projected rents towards approval if you don’t know which property yet? ?

[@joannegarcia9171]

Love this video given me a lot to think about always thought of investing in a small building.

[@taylormarie4172]

I’m 55 seconds in and subscribed, liked and hit the bell! Please be a good video! 😂

[@MasotaMau]

About to close on my first 4 plex and now need to find a management company . Your calculator helped big time

[@cadesamaniego9303]

Which city ?

[@LoneStar_P1]

How were you able to get the yearly expenses ?

[@trentonmcelwain2945]

Watching this video in my first current four plex house hack for the first night laying in bed late at night 😌😌

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@greaterishe7197]

⭐

[@ilegendplayz2077]

How’s it going bro any advice?

[@dmoore9533]

Congratulations

[@trentonmcelwain2945]

@@ilegendplayz2077 going great! Waiting for some more to come on the market I’ve been cold calling and got a couple leads but everyone wants way to much right now, my only advice would be if you find a good deal you have to jump on it! They fly off the shelves right now

[@joaquinjackson7510]

Your app is gold!! Thanks man

[@lolz5956]

What app

[@gibs5338]

Don't you need a property management ready at pre-approve to know the rents are going for and expenses will be?

[@ultimatematty]

How do you get banks/mortgage companies to approve a multi unit property with an FHA loan? In KY some lenders act like you're stealing something and refuse to approve multi unit mortgages on FHA.

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@diffasmr2296]

In Texas you can only use FHA on 4 plex or under. Anything above 4 plex you can’t use FHA.

[@ultimatematty]

@Diff ASMR Same in KY but a loan officer based on their personal feelings acts like they just won't do it.

[@ultimatematty]

@Diff ASMR even when its 4 plex or under

[@JakeAlexander.]

@@ultimatemattyif that loan officer is giving you pushback, I would discard them and work with a different loan officer

[@karenarellano25]

My only worry is not getting tenants and then Im struggling to pay the mortgage ☹️

[@Jenna888s]

Wow. That was chalked full of gold nuggets. Thanks so much!

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@JonthonPrice-h4w]

great info thanks for the content

[@donduke9396]

Thanks for the info man, very informative and you got a new subscriber

[@robtaylor5623]

This is a wonderful video fast past and informative no BS

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@jon-slem]

Have you ever built a triplex or quadplex from ground up? That would be a great video if someone just wanted to build

[@hbsoc200]

Great video, I learned a lot from you today! I have quick question, I never bought a property so this will be my first time, but I am doing my homework before I start. According to your video, once you have your multifamily property, why would you recommend getting a Management Company? I heard thru other KZbin videos once you buy a multifamily home and if I decided to continue working, I will end up paying more taxes, and the only way to get away from paying taxes if I am managing my own property? Help me make sense on this, please?

[@poolshar]

looking for a 4-plex in Huntsville AL and surrounding areas for 300000 and was pre-aproved and got a 3.5% down and was wondering what website shows 4-plexes on sale before they go on market

[@madsalvy808]

probs will have to talk w real estate agent or get real estate license or have a real estate friend w access

[@j.w.7688]

How big of a Lot do i need to build an adequate, appealing quadplex with 3 beds, two baths per? Thnx.

[@kerriobartlette4668]

Great video, thanks for the info

[@lorenazaragoza6411]

Thanks. Short, sweet and to the point!

[@KidCity1985]

❤ sending my love❤ thank you.

[@legendaryrscopridge]

Thanks for sharing!

[@texans117]

What’s the best loan to try and get as a first time home buyer FHA ?

[@probst9999999999]

How do you suggest qualifying for RE professional status without managing yourself if you don't have enough money to keep buying so much that the time spent buying qualifies you?

[@luo6963]

Thanks

[@marinamefak3854]

Thank you

[@galvinferguson5336]

Thanx for the information! I really enjoyed this video.

[@a.perales7340]

Stumbled onto this by sheer accident….how did you get funding for all the 4plexes you own and don’t they usually, at least most lenders, require you to live in them? Private lending?

[@pikanoliy2245]

Great video

[@ambitiousbeauty1013]

How much usually is the monthly mortgage payment for 1 quadplex?

[@kobesills3034]

I’m planning on using my VA loan to purchase a four plex

[@kamikadavis8959]

same boat!

[@angelacosta6432]

What has it been like? Could you give me the step by step of what you did?

[@livefree4937]

Good video. Thanks for creating it.

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@kingradway]

This was reallllyyyy goooood!

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@stephenwhitt1338]

I NEED SERIOUS ADVICE. We're about to rent an apartment in a 4plex. My wife asked the new landlord about us buying a quad. Her response was quite negative: 1) if you're young and can do a lot of the work yourself, then it can be worthwhile 2) it is quite costly. Her last tenant moved out. The changes they're having to make - carpet, new fiberglass tub, etc - would cost thousands if they had to hire someone to do this. 3) the maintenance of 4 apartments is more expensive than you could imagine. 4) she recommended a duplex I NEED to know if all this is true. OUR thought was, we would move into one of the apartments, we would put $800 each month towards our own towards the mortgage, and anything above the full mortgage would be divided between paying principal payment and savings for maintenance. But if we have to keep paying expensive maintenance, how can we make a profit??? I understand the calculator, but she's saying we have to constantly paint, change carpet, etc. What are your thoughts????????

[@Dope4life97]

4plex is the way

[@seanwest9451]

I work in multifamily. There are always repairs and maintenance costs in any apartment unit (quad or duplex) but having 3 people subsidize your mortgage instead of 1 the math tends to work a bit better. Just try to buy something in good shape unless you're comfortable with the scope of work, and always get a really good inspection and potentially an opinion from a contractor you trust. There are things to look out for like poly pipes, stablok breakers (80s), aluminum wiring and asbestos or lead based paint (pre 1972) that could cause maintenance issues. Less things like that to worry about with a more recently built property, and there are plenty of properties that don't have those.

[@JakeAlexander.]

She could be exaggerating. If you buy a newer fourplex, it would likely require less maintenance then an older one. The maintenance costs she’s referring to mostly occur when a tenant moves out and you have to get the unit “nice looking” again before renting it out to a new tenant. Having a solid rental agreement with your tenant could also help with maintenance costs. If the tenant damages any parts of the property, their security deposit will be used to fix the damage. If the costs to fix the damage exceed the tenant’s security deposit, then you’ll have to pay the rest out of pocket. Make sure to document the condition of the property with lots of detail and pictures prior to the tenant moving in so that, when the tenant moves out, you’ll know exactly what was damaged. I’d take 360 degree pictures with an insa360 camera or a matterport and save them for review at the time of move-out.

[@jessicapaolagonzalezramire8916]

And remember you should put the property in an LLC then you will deduct everything from your taxes : interest, repairs etc

[@jessicapaolagonzalezramire8916]

4plex

[@tweetybird3781]

Thanks Sir. Very informative

[@luisrivera5314]

Great advises! Thanks

[@benjaminlehman3221]

Step 1: find a 4plex Dang it

[@Mustafakhan-qg6nv]

💀

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@ritahogikyan8560]

Great video ! I wish u were in Vancouver to coach a Newbie like me

[@crazy3rdgen]

Wild... gets it under contract with contingencies asap and then decides to pick the property apart, renegotiate with the seller and the bank.

[@914501149]

I enjoyed this video it was easy to follow and I want to build my rental property portfolio and this video step by step process will ensure I do it correctly!

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@sashikadesilva2677]

Since you have to put a big down payment for the 1st one , how do you invest in 2 or 3 More afterwards ?

[@midamericaaviation1648]

Thank you for the information!

[@grant9047]

I've never bought a property but I really want to just don't really know where to start

[@GarethJRubery]

Thank you heaps Chandler

[@targetguy777]

I have bought a four plex in the past and even with a good cash flow there were always vacancys and repairs. If anyone buys one they need to be prepared for vacancys and repairs because all the get rich schemes wont mention this and many have given their house to a flipper because they did not have the money to fix the property and the hobos inhabited the property while the city fines the owner for trash on the property.

[@davehughesfarm7983]

Note: stay out of blue cities...

[@youaregoingtolovethis]

@@davehughesfarm7983 Stop the politics. This happens everywhere in red cities and states too.

[@KJInvesting]

I help people buy their first 4-plex or 8-plex brand new build for pre-sale. Low capital Entry

[@jahjahbanks7491]

Great info

[@markalexander3953]

Thank you. Very informative!

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@joelmiller3132]

Awesome!

[@Rowewhitcomb]

Deserves more views

[@DL-1]

Why aren't more builders building new fourplexes? Why aren't new construction buyers getting them built, and renting out the other units? What is the way to win with new construction builds?

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@KJInvesting]

Hello, I help people invest in 4-plex or 8-plex brand new build

[@sunflower5749]

Thanks. I just UNSUBSCRIBED from the “other real estate guy” for you. You are extremely HELPFUL. I just subscribed!!!!❤❤❤

[@sjtanman]

What's the good idea to get the 20% down payment?

[@RealWorldMaverick]

work. Go to sales job or take a second job, work more hours at your job if possible. budget every single dollar you make so you know where its all going and you can cut out unnecessary spending. Find a side hustle. no one can give you an answer only you can figure out what works for you and your family

[@Daviirose3]

Get an fha loan and use it to buy a 4plex or triplex. Converted to conventional then repeat the process

[@deadcell1]

Invest in the stock market or crypto.

[@MrTeezy21]

​@@Daviirose3 convert it to conventional why?

[@Daviirose3]

@@MrTeezy21 once you have the full 15-20 percent down in that fha loan you can refinance and convert it into conventional

[@valentinlozoyau2732]

God bless you chandler

[@ireneochoa6972]

I would like to buy a four Plex or four unit to get my four kids started in a property they can live in (or not) and eventually own. I want to give them a start. I'm not seeing information on how to buy property with this in mind.

[@kilo2caliplaylists922]

Hmm.. I’m new to this. With not so good credit. But if I can learn how to get a fourplex my life would change

[@AllThingsYesenia]

Could you help me walk me through a purchase, I found a deal in Orlando

[@garfieldroufpaws9452]

Anyone know where to find a mentor for real estate

[@FloatingStar2767]

I’ve seen this 4 times but the beginning 12 times. 😅 I’m still scared of trying. I really want a 4 plex to house hack while learning and then doing it again. But still! I’m scared! I’m the type of person who like doing things on my own but I really want someone to hold my hand thru this. Ewwww what a weird feeling. 😂

[@KJInvesting]

Hello, I help people invest in 4-plex or 8-plex brand new build

[@lukehood5546]

Give me the money while I hold your hand

[@FloatingStar2767]

@@lukehood5546 yea ok.

[@doespeople]

Has anyone tried his course??

[@stefanmarin5011]

Why is a management company so important for 2-4 houses? I mean you only do something if there is a need. Your tenant may run 12 months without putting a request and you are paying that company to do absolutely nothing. And if there is a request, how difficult is to make a phone call and have a handyman fix it? Other than that I can understand the eviction process that they can help a lot with it but

[@RagnarLothbrok2222]

Good luck finding one that cashflows!

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@ashog1426]

If not this year next year ill be ready baby

[@quangvu4361]

I just made an offer on my four Plex in California hopefully I will get lucky and get the property.

[@carbonfibercreationswashin7213]

Anyone can buy property with good credit and some money wether that be their own money or someone elses money.

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@bmanscire]

Bro you are the man 🫡

[@agtj9019]

Love your knowledge on real estate and course. The best thank you my brother.

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@Aragon714]

Wow this is good stuff

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@dinnolinno]

Very chatgtp answers

[@arvidelltd.3259]

Chandler please do weekly livestreams

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@porkchop8131]

Awesome

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@theregionalj1944]

Great video. But idk if ive ever heard the word niche so much, so fast in my life 😆 great content as always! Thanks chandler!!

[@adamzioriophotography]

I’m looking into a 6 plex, it’s my first time buying something. Anyone have any suggestions? I’ll take ANY information or suggestions. Thank you!!

[@jamarmills8575]

They are giving me a hard time getting pre approval

[@cristiangabrielfeliz6324]

HELLO QUICK QUESTION! WHAT IS THE LOAN AMOUNT LIMIT FOR FHA LOAN ON MULTIFAMILY PROPERTY?

[@codymccormick1035]

Please help, Can I ask you a question on the side?? Going to make an offer on one!

[@Rafaellasvegas]

Definitely not pre approved for a multi family. College student & 4 plex is $500k. How on earth is it doable for someone like me? 140k is my pre approval no co signing is possible. I was told income generated from other units can help…. Any suggestions?? Super frustrating since my income is junk and I’m overwhelmed in Las Vegas. Cant even afford a single family.

[@seanwest9451]

House hack or getting an investor (maybe through your college if you're involved in a real estate program). There are probably some alumni of whatever school you're going to that are big in the real estate industry, if you bring them a good enough deal and are coachable you could negotiate a piece potentially. You can also get your real estate license

[@creative.writer]

Do you need vedio editor for your vedios ..as I edit vedios for you people...if you want then reply me

[@JohannyGuillen]

I’m single mother no help ! I don’t have any property I live in a little apartment and I’m watching this videos cause I want to buy my first property I want a fourplex and keep going ! I’m a massage therapist and my body and hands hurts all the time !

[@seanwest9451]

I would look into FHA loans and first time home buyer assistance programs from your state's housing agency. If you can't afford to buy a house yet and make less than 60% of your counties area median income I would Google affordable housing in your county and apply for a low income housing tax credit project or see if you can get a housing voucher from the local housing authority. This should help your immediate situation and help you save up money to buy something

[@HTRmark]

💙💙💙💙

[@ashtonalexander7026]

Do you think this video is still applicable Chandler?

[@chrisbolden7074]

Bro keep saying nitch is getting too me 😂😂

[@y.e.s.forchristjesusminist5530]

~Proverbs VI

[@algreen273]

After few minutes it was clear that you do not know anything about buying multi-family. You terminology is all wrong and vague. Multi-family is bought as a business and its evaluated on its cash flow. No bank will talk to you before you find the property and bring the financials of that particular property. Few have the financial "income" to support "pre-approval" for few hundred thousands or couple of millions.

[@probst9999999999]

4 plex are eligible for the same loans as SFH, I had a preapproval for a 4 plex before they just told me it must be 4 units and have at least 5k in total rents for that preapproval.

[@myleonhomes]

4-plex still classified as residential. Can use conventional, sometimes FHA and definitely VA. Debt to income is a big factor not all the other financials/ratios needed like a commercial property.

[@user-dr2pg8fk2i]

"Step 1: have money!" Yeah no shit.

[@shawnm5692]

okay so now you have a 4plex... now what? :)

[@iNsAnEwBiE]

I think you missed the last step, which answers this question.

[@shawnm5692]

@@iNsAnEwBiE as in more depth though. perhaps a whole video dedicated to it

[@RealWorldMaverick]

everyones path is different. what are your goals? that may be something you need to figure out. congrats on the 4plex do you want more? you could repeat the process. with the cash flow you may be able to get approved for more now if you wanted maybe a 6-plex

[@kowshikdas5298]

😂😂😂😂😂😂

[@christophersmith49]

Of market approaching people he is basically telling to be a scumbag lol dude that works only with losers. People don't be losers when selling your home. Know your value and do t get out in urgency. Sell when you have as much time as you want. Don't get pressured sell under value.

[@aaronm9786]

Retrading (re-negotiating) is poor ethics. Trash advice.

[@JuancoPRoFlow]

Not if you really found any issues that mess up your original numbers.

[@jgg204]

Ha ha ha not happening in this market

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@christophersmith49]

You need money for deposit, regular good income and good credit. Else f you. So not sure what Thai video is about lol

[@yahosephbenyisrael917]

Hey Chandler. Whats your email? I want to add you to my buyer's list. Im a virtual wholesaler.

[@Trektrendy1.]

🔝Thanks for the feedback, I will introduce you to something new and profitable... Text the above digits for more infor!...

[@orkuntelegramfxtv9647]

Nice content mate! So happy to announce that I have gained financial freedom by investing in digital currency.

[@orkuntelegramfxtv9647]

I'm totally delighted that someone mentioned and recommended Expert MRS CELINA JOHNSON, I thought I'm the only one trading with her

[@christophermario3801]

@@orkuntelegramfxtv9647 Who's this professional everyone is talking about I always see posts about people talking about her in Almost all KZbin video I watched., How can I get to connect with her?

[@orkuntelegramfxtv9647]

@@christophermario3801 you can reach out to her on telegam

[@orkuntelegramfxtv9647]

@@christophermario3801 investwithfxcelina is her user name

[@zeusgeorge8928]

Trading as a newbie is quite stressful and discouraging but after linking up with expert MRS CELINA my financial situation changed

[@FamRoblesI2812]

Great video, I want to do this whole process is just everything is so new and there is always that feeling that you don’t want to take wrong decisions.

[@user-em1yp2ib7p]

That’s how you learn 👍