How To Buy Your First Rental (8 Beginner Steps)

[@ZackofAllTradesct]

"If you realky want something, you'll find a way. If not, you'll find an excuse." I needed that.

[@kazchloros1036]

Qz❤t❤

[@LaughtersHouse]

Hey all. If you watch his videos from a year ago, or 2 or 3 years ago you'll notice the process doesn't change. Thats because its really this simple. I found BP in 2017 bought 2 rentals in 2018, 1 in 2019 and about to buy 7 units before the end of this year. I could have bought much more in a shorter period of time. Fear and inaction were my barriers. Once people know you are an investor they will find you money, find you deals and help you grow, its ridiculous. Take informed action...do it today!

[@OO-il6sl]

how do u get more rental props if ur income doesnt grow?

[@LaughtersHouse]

@@OO-il6sl you mean from your 9-5? Like qualifying for another mortgage?

[@brandoncostner7437]

730 credit score 40k combined lines of credit (paid off debt free) 500k gross 30k net Even the 7% interest private loan guy won't give me more than 100k because of my net income

[@LaughtersHouse]

@@brandoncostner7437 thats a good start. I assume your loan is limited by your ability to repay and your DTI ratio if you add a mortgage on there...if you haven't already join biggerpockets and post your situation and your goals...the community will help. Much better than me guiding you wrong...everybody has a unique situation and I am only a master of my own. The best advice I can give is take action

[@innovateandinvest]

Great ideas

[@SterlingWhiteRealEstate]

The best time to start was yesterday in real estate. The next best time is NOW.. Take action

[@brendabastell6266]

Hère o

[@DannyKoRT]

Absolutely agree!

[@yoshee2532]

Guide me Sterling, new comer looking for guidance!

[@samsguidetotraversecity3457]

One of the most important things for me has been to understand it’s the long game. I’m not into the quick money game. Multi Family Real estate is all about the hold. Get rich over time. Rental real estate is the most forgiving investment. Slow and steady allows you to compound.

[@RealEstateWithGaryWilson]

My first rental was a 4 bedroom me and my partner purchased and rented 2 of the rooms that covered the mortgage with extra to spare! That was just the beginning....

[@hashmatkatawazy9716]

the idea which buy a property in cash then rent it or pay 20% in advance and 80% mortgage

[@gnomadicnorbert3180]

Can't believe we can get this knowledge and wisdom for free

[@jasonadkins1455]

Brandon is awesome.

[@SplitPerspectives]

Facts think only like 20 odd years ago their were no computers or Google we are lucky to have this.

[@findingdori6219]

I know! I just paid $250 on another site : (

[@davidreus9321]

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 basis via my investment and got 5 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 in the financial market is a grand choice I made. Great video! Thanks for sharing! Very inspiring! I love this

[@jarrettmacurdy3612]

You are right. I also started my journey towards actualizing Financial independence. I am sick off earning from only one source especially 9-5daily. But I am having a tough time finding a good investment adviser. Seeing your testimonies, I believe that you achieved this through a good tactical means. I hope you don't mind sharing information on how you made it possible?

[@davidreus9321]

@@jarrettmacurdy3612 I invest across the top markets but not by myself tho. i follow the guidelines of Alexandra Diana Jose. you might have heard of her.. I can correctly say she’s worth her salt as a investment advisor as her diversification skills are top notch/ I say because i see that in her results as my portfolio grows by averages of 30 to 5O% on a monthly basis, unlike i can say for my IRA which has just been trudging along. my portfolio just mirrors what her place and not just on some particular industries of my choosing

[@jarrettmacurdy3612]

@@davidreus9321 That’s great , your investment advisor must be really good,I have seen testimonies of people using the help of investment advisors in making them more financial stable. Do you mind sharing more info on this person?

[@davidreus9321]

@@jarrettmacurdy3612 She is easy to find , make a quick research of her on the internet with her name Alexandra Diana Jose . She works with anyone independent of their location.

[@jamesarango2313]

I have had the intentions of starting investing. But I always thought it was late but I think I need to stop procrastinating. I will definitely 🔍 Alexandra Diana Jose and see what she can advise .Thanks a lot . This was of so much help to me .

[@lupusk9productions]

1:08 - 4 Reasons to buy rental property 2:54 - Determine your market 4:09 - Get pre-approved for financing 5:25 - Learn how to analyze properties 7:22 - Shopping for properties 8:29 - Start analyzing a lot of deals 9:25 - Make your offer! 10:36 - Due Diligence 11:33 - Manage your properties

[@adeolalawal6157]

1-Cash Flow 2-Loan Pay down 3- Appreciation 4- Tax Benefits How to Buy 1-Market -Feel for prices, connect with other rental property owners 2-Get pre-approved-Network with other real estate investors in the area 3-Learn how to analyze properties- Find income from property manager, expenses from property owner- Monthly cash flow + CoC Return 4-Shop for properties - Start with a real estate agent -automatic emails 5- Analyze all the deals -analyze potential properties 6- Make your offer - quick and smart -you will get rejected- analyze enough and offer enough - improve offer (letter/faster)- under contract (earnest money) 1%- pledge 7- Due diligence - inspection from local inspection -title company - verify rental amounts and income and expenses - line up a property manager - insurance- close 8- manage the property

[@jacquila8647]

Thank you!

[@tukolo5408]

I live in a duplex and rent out half. It is God sent, because rent has gone up like crazy in the Portland, OR area. Water is a big expense here too.

[@biggerpockets225]

"𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩" [phone]

[@armandorodriguez7907]

I’m 24 years old and just got into RE, I really want to do this and I wont give up ! Ready to get out of my comfort zone :)

[@Brucelee89896]

bro is never to late, i am 23 and got pre aporved for a 260k loan, i used to be so scared but now i am shopping for my first property.

[@metalmike570]

@@Brucelee89896 In your mid 20's is great, I'd say that's early.

[@moonbentley7412]

@@Brucelee89896 wow how were u able to do it at this age? Im 23 as well any tips for someone in California to increase my chances of success for an approval?

[@Brucelee89896]

@@moonbentley7412 damm i live in FLorida so is cheaper, not sure about california, just make sure you have money saved and been in your job for about 2 years, it also depends on your income, make sure your credit score is good and don't have any debt, this is not always the case but most of the time.

[@jacksonfamily1744]

start making youtube content and post your journey there.

[@brandonbarclow3135]

I bought 4 properties this year. The process is quite simple. The key is to just get started. The beauty about rental properties is that you can "earn while you learn." BUT do not shop on your own. Use BP or an agent to help you find the deals. Also, I'm in the Dallas area and the numbers don't make sense. All of my properties are out of state in cash flowing markets (OKC and Jackson, MS). I have quality property management to look after my properties. I know it is counter intuitive, but you do NOT want to invest in your same neighborhood. You'll want to check on the propety all of the time and it will drive you crazy. It will completely take the "passive" out of passive income. The best thing that I could have done was to purchase in a place that I can't visit all of the time.

[@v_osornio]

Good advice man thank u

[@intentionallivingwithterik3111]

Hey! Do you have a real estate agent in OKC or MS?

[@timothyleee27204]

How much damage has been done to the properties already? That's my only hesitation

[@brandonbarclow3135]

@@timothyleee27204 Of course, this was my hesitation also. But having a good investment counselor that I could trust definitely helped. Also, I had inspections done, and if there was significant work to be done, I either absorbed the costs or asked for the seller to take care of. You're really not buying as "blind" as you think.

[@brandonbarclow3135]

@@intentionallivingwithterik3111 Sorry so late on this reply. I use Table Investment is Oklahoma City. In Mississippi (Jackson), I use The Equity Group. Glad to help

[@Jeff-nm9km]

Before you invest in your first rental property, should you establish your own business by forming an LLC or something like that?

[@ebonyjaiteh7042]

I love Bigger Pockets! Thank you for everything you share with us Brandon.

[@lmkestep]

As someone who's done jiu jitsu your analogy about choking out an frail old lady made my day. Thank you for your knowledge on this video. I'm done payin rent!

[@doodleknowledge]

Totally agree. great video. As they say landlords grow rich in their sleep without working, risking, or economizing.

[@griffinmalcolm1132]

My new years resolution is to buy my first home / rental by the end of the year. Already have an agent sending me properties. Going to learn how to analyze them now!

[@cameronspeed9052]

Good information! Very broad and gives us the opportunity to learn and confirm on our own. THANK YOU!

[@HastaLaVistaBoss]

Step número uno😀 nice I choose to invest on the beautiful coast of Spain. I'm steps away to get my second property there. I'm over the moon 😀 I have so much to learn but I still believe that taking action is more important than knowing everything!!!

[@HastaLaVistaBoss]

@BOYCOTT FRANCE I'm on the coast of Valencia. Prices are not going up, but they don't go down as much as I'd like to see either :) But there are places that makes sense to buy. Some people might be desperate in these pandemic times and you might find good deals.

[@5thsealministries685]

I BOUGHT 6 MOBILE HOMES EACH ON THEIR OWNS LOTS WITHIN 1 BLOCK OF EACH OTHER AND PAID CASH. OVER 60K A YR MONEY BACK IN 2 YRS

[@MrKCDME]

Brandon, I have had the pleasure of listening to many of your audio books. I have purchased my first fixer upper and while it was a single-family home, I was still be able to house hack as I rented a room to my sister rather than her stay in the dorms of the local university. I recently flipped a property and am looking to roll the profits into my next BRRR property. Thank you for all of your insight!

[@davidfredrickson5193]

Have you considered forex investment,,it's a wise decision to multiple streams of income

[@Motivationalmindspodcast]

Thank you so much I'm a single mom of four great video I been looking into this since 2019 ❤

[@rickjohnson4553]

Great information. I appreciate the help, will be purchasing my first rental property (3 or 4 unit) in a year and getting things prepared. Will be recommending the video to others as well.

[@sbombfitness]

I have about $25,000 saved up now at 19, and am planning on splitting a $250,000 rental townhouse 50/50 with my grandpa. I have to buy out of state though because I live in an extremely expensive area.

[@metalmike570]

I love your high energy and yes it's something to be excited about. With real estate you can't go wrong. The odds it would not be profitable are like being struck by lightning!

[@SterlingWhiteRealEstate]

3:39 "If you find that prices are just too expensive in your market, you can always invest long distance." If there's a will, there's a way.

[@davidfredrickson5193]

Yeah,, investing with a company makes it that much sweeter

[@joshuagautreau6555]

You would have to really trust the company. My buddy says his best rentals are the ones he lives close to. I guess b/c he can keep an eye on them.

[@michaelnorris2747]

It's crazy how the universe works...When I first started searching for my first property I was lead to your blog or website yeast ago...I gave up due to self-destruction and I finally found the courage to finally get my first property officially now...And this video is a KZbin Suggestion...Man thank you for everything you do and thank you for not giving up as I did years ago...Well here's take 2...

[@skylershoup5627]

How is it going?

[@michaelnorris2747]

@@skylershoup5627 well my first deal was a bust due to lack of funds so ive been working and saving so i can just purchase my first property out right since my credit sucks...Gotta crawl before we walk...

[@sironeil-personalfinancere9367]

Going through my journey of buying my first home/rental property. FHA Loan, House hack all the way baby 😎

[@timtalkinball]

Duplex or single

[@sironeil-personalfinancere9367]

@@timtalkinball Triplex

[@teamprofit9113]

lol

[@linemakersports3669]

@@teamprofit9113 lol

[@asscrackistan]

@@linemakersports3669 lol

[@nathanleger2268]

Shout out from Maine ! cant wait to get started... im in the education phase of all of this but i'm super excited.

[@jaiedanlee7891]

Loved the video, straight to the point and very helpful!👍

[@TagBeatz]

omg this is Brandon Turner..... loving his book right now.

[@shanet.7821]

Whoa whoa whoa, Maui?! Same here. I’m always depressed by the prices here. How can you start here? Love to see a video or some advice on starting in an expensive market; Hawai!

[@tsukiwibeauty5240]

I don’t have KZbin premium but want to take note as I watch so here the quick summary. 1. Find the market. Local 1-2h away or out of state (long term). Out of state will require special handling and teams. 2. Get Pre-Approved: Bank or Local lender. If you plan to live in the property for a year or so. You can have as low as 3% down. Other way is partnering if you have no money. Bring the deal and they bring down payment. 3. Learn how to analyze property. (You can use BP calculator). Understand the property income (information can be collected from PM) and see the real expenses. Focus on the money cash flow and Cash-on-Cash Return (The return your money make in a year). 4. Shopping for properties and tryna determine the number and see what can work out. Start with a real estate agent (the one who works with investors) and have them send the type of property ur looking for as an email automation. 5. Practice LOTS of deal analysis. Become great at it and understand everything. 6. Make your offer. Ur Agent is gonna help you with this. Rejections will happen, it’s normal. Make sure you offer enough. Find ways to improve your offers. Until you get one under contract. You may have to pay what’s called Earnest money, around 1%. It serves as a pledge or a promise that you’re serious about the property. Usually refundable when you buy or back out for a good reason. 7. Due diligence. Do inspection. Agent will help find attorney and insurance and company that help u close. Verify rental income and expense. Send payment and closing. 8. Manage the property. Find a great Property Manager. Keep an eyes on them. You can also self manage, it’ll save your money but it can be a lot of work and you’ll need great systems to make it easy to manage.

[@jordankane6504]

I like how the first thing he says after purchasing the book his wife and himself wrote was "if you don't want to buy it go borrow it from a library". This dude is legit. There are too few people in the world these days not trying to make a buck off of everything they do.

[@Untryn]

Personal Notes: 1. Determine your market / use realtor.com, Zillow, you can also invest long distance w/ David Greenes book 2. Get pre approved by bank or local lender 3. Learn how to Analyze properties! / bigger pockets website has a calculator, find cash on cash return 4. Shop for properties / Tip for beginners: use a real estate for help 5. Analyze deals / do this every day 6. Make your offer & be prepared to get rejected, learn from every rejection - earnest money: when your property is under contract this is your “pledge/place holder” to the seller, usually 1% of property, typically refundable 7. Due Diligence / use an agent or property manager to help you. Everything you do between contract and closing - inspection on property from local prop inspector - title company to help closing - if there’s already tenants make sure you verify their rental rates - get insurance 8. Manage the property or hire a manager - nobody will care about your property as much as you - brandon has a book on this

[@davidfredrickson5193]

Thinking about a business to make money weekly,, With over 60,000 account holders blockspace has been at the forefront of the forex trading industry since 2016,access over 10,000 global markets and trade with attractive marginal rates..it is regarded as one of the best, most beneficial, brilliantly successful companies in the industry of forex trading and investing

[@nickbroome332]

I've BEEN ready to do this. My only set back is I live in a small town where there's no good real estate for sale. And I don't have the money to buy something and fix it up. And I wouldn't feel comfortable buying something very far out of state that I can't hop out of bed and be there if need be

[@zachreece8410]

I’ve came from a small town as well. You might not want to hear this, I know it’s 2 years later so god knows where you’re at this point. I had to move out of the small town and get somewhere populated to be able to get into buying homes. I’m on my second home. Thinking of pulling a second mortgage to fund getting into rental properties. If you buy a home.. your opportunities expand in what you can borrow with banks.

[@chrislaney8861]

I ended up with my first rental property sort of on accident and it’s turned out to be great. This video gets me fired up to go after another one! Thank you!

[@krisemorado7755]

What advice do you have for the LLC route,?

[@b_dub8414]

I got lucky. Got my 1st house with 0% down. All I got into it is some small repairs. Looking to get my first Tennant in a few months when I go work out of town. Looking to make some deals when I'm gone to build on that momentum

[@Wowvod]

Whats the process of finding tenants that’s the part I’m stuck on

[@b_dub8414]

@Sayjaeb honestly, that's where I'm stuck. My friends have a trusted realtor they work with to do the screening based off their criteria. I may just do that.

[@maaidakausar9802]

You are incredible

[@lovefortheplant6997]

Nailed it. Most concise and thorough Rental 101 I've ever seen 👍🏼

[@kellylevine1979]

It has been well over a year since I listened to you Brandon (side tracked with other things) and look at your amazing beard!! I love it! Glad to see you and your family made it out to Hawaii! Shaka Bra!

[@robertrich07]

Can you guys do a video or rec a vid on purchasing foreclosures?

[@1ofnoother]

Is there a video on how we can determine where to buy property? Do you look at price to rent ratios first? Community, sales prices, taxes and rental laws for LTR vs STRs? Thanks

[@georgeperez3182]

What if you already have your own home but want to get in the rental investment? What would do in this case? Do you take out the equity to purchase the investment?

[@innovateandinvest]

See if your bank lets you do a HELOC home equity line of credit

[@shantimindproductions5585]

Heloc can be variable rate. Compare it to cash out refinance, which may be fixed rate. Check with a mortgage broker.

[@chaunceymoss6756]

Great information well received…. Thank you

[@Mhawk216]

I'm almost at 4 units and I want more. Where do I go from here?

[@mistermosley3012]

Bigger pockets! Yessir 🔥🔥💸

[@mefirstandthegimmiegimmies5160]

We tried the rental house thing and the returns were so low, unless you paid cash for the house, that it didn’t make sense. A couple hundred bucks a month return then you have tenants do 4 grand in damages over a year period will set you back a ton. We’ve been buying vacant land and turning them into rv rental spots and I’m making 1200 bucks a month per property with only 30 grand invested in each to get them ready to rent. Way more money and if the tenants tear up their rv it’s not my problem.

[@sharethesucess5929]

Hello I am looking in to real estate and buying land but I don't know where to start do you mind giving some suggestions thanks in advance and congratulations on your success.

[@mrjweb3586]

Thats genius 👏🏻 🙌 👌

[@parkerjeans5777]

It's more about cashing out the house for the value that they put into it. It's basically using someone else's money while you take the risk

[@melefante6]

BP is an awesome resource to learn and get started in RE. I believe the most lucrative investment and fastest path to financial freedom is short term rentals. You could be financially free after only a few properties as compared to long term rentals where you'll likely need dozens of doors to reach the same numbers.

[@bobwillis6584]

I watched your last few videos.. honestly really interesting on the STR stuff

[@davidfredrickson5193]

@@bobwillis6584 I prefer forex trading

[@Thrivinglife3835]

My offer was just accepted and this is my first rental property and it is very expensive. I know that I don’t have a cash flow. But I know the market very well. I know for sure that i will have no problem with renters. Because the location is superb 2 mins away from the university and the hospital. I will be good in the long run... The market here ( Southern California) is so expensive...

[@moonbentley7412]

I live in socal as well and am looking to invest in my first property…how has urs been going since its been 11months now?

[@Thrivinglife3835]

It was a great buy, thank God! The price appreciate from 382k to 480k in 9 months. It was a good timing. And I have great renters.

[@amathew061974]

I think I am bit confused how we get benefit from rental property. Your rental income is part of your income and part of sell assessment. Then you pay tax as normal. Unless you buy a property on companies name. Bit clarity requires. Just thought to mention. But I love ur content

[@elliotsmith9623]

Would you keep renting a property for you to live in, whilst you pursue building up a rental property portfolio? I could probably pay off a property in my area in 6.5 years, with a repayment mortgage rate of 2.49%. I could buy a rental property outright and obtain a (gross) return of 22% pa.

[@hernandezjackson1785]

HELLO WHAT'S THE WAY TO GET STARTED WITH TRADE.

[@millergarcia1832]

First thing to do is to stop all form of trade and seek the help of an expert to guide you through. A lot of people shy alway from this thinking they could do it alone and end up blowing up their account

[@arslanbardakci7473]

Trading has left me no choice than to keep investing. Mrs Lillian Donald service to the world 👍👍 It makes so much profit for me

[@tammygraham6412]

Interesting to see someone here speak of Mrs Lillian Donald service

[@Jim_Parsons]

Yes I saw a recommendation like about the same earlier this month had a chat with her which she opened a trading slot for me making an initial investment of $200 and got a profit of $400 USD in 14 days. She has really changed my life and made me who I'm today

[@martinsmith6328]

@@Jim_Parsons pls how can one get through to Mrs Lillian Donald?

[@223shamiel]

Appreciate the Great content what part of Florida are you investing in?

[@junglerealtor]

Invest in real estate in Tulum Mexico, returns are of the charts!

[@fsm12385]

10 offers 9 rejections still equals 1 acceptance , Great Show, you guys rock at Bigger pockets True advice

[@anahlv]

Awesome video! I was able to follow along the whole time. Thank you!

[@airtagoscar]

I'm still working on getting that down deposit

[@chadbonanno5724]

Nice! Some GREAT information here

[@uriel-heavensguardian8949]

ThanksFor the video it’s encouraging because I was looking into long-distance rental properties but my family keeps telling me that is a set up for disaster. Thank you for reassuring but it’s possible and OK to do. You just picked up a subscriber

[@catherineduncan6611]

The problem with such a hot market is that houses are so expensive that there isn’t any cash flow. They aren’t renting for as much as mortgages will be.

[@jelwah1]

Hi, loved the video. Would it be smarter to try to pay off the mortgage sooner than the original loan duration? Or would it be best to save that money for other investments? Taking inflation into account..Thanks.

[@yasseinvlogs5585]

Hi i wanted to ask a question, Do I need a real estate company and a team (attorney, real estate agent, advisor, etc.) before my first real estate investment or could I start on my own just by buying, renting & selling?

[@Joeygaule]

Amazing breakdown!! 🙌

[@dana221]

Love this video! Very detail and encouraging. I have 150k in equity of my home right now and looking to put that money into a duplex as an investment. The duplex I want is about 550k. Is it too risky by using heloc of my home for this investment? Please help.

[@financialfox8088]

Do you really have to live in a property for 12 months before renting it out? Or can you just instantly rent it out?

[@dobermanxxxl]

When you get a loan, it will be either owner occupied or a rental, which drastically affects your interest rate. You could always lie, and claim you’re living there, but of course that’s illegal. In short, yes, you’d need to live there for 1 year prior to renting it

[@cristinabaker5292]

I own a rental home in New York that I want to sell. Should I wait until my tenants have moved out - or tell them the bad news now?

[@alinaally6048]

Be careful in New York. The laws are in favor of the tenant. They could potentially live there rent free for over a year with some lame excuse not to pay rent and having no other place to live.

[@Gbdnd]

Last October, one of our tenants talked about their parents buying our building and asked if we interested in selling. We tried to work out that deal, but it fell through. So we told our tenants we were planning to sell "next year". They both (duplex) gave notice about 20 days later and left us empty at Christmas. I would still do it the same way if I had a do over - they were faithful and on time even mostly through COVID and for almost a decade previously

[@kucheranraina9201]

I’m 60 years old looking to diversify part of my savings say $250k into real estate but I hear it is not a good time to invest in Real estate. Can i get any idea on other options?

[@mooreleigh8928]

@@kucheranraina9201 My portfolio grew by 1,000% within 10 months. Couldn’t have put it better myself. Last year a colleague introduced me to a financial consultant Jennifer Elizabeth Boland who has been helping me find investments that have significant growth potential. She invested my money in reputable companies which their stocks must always rise after any dip.

[@mooreleigh8928]

@@kucheranraina9201 I would advice you to reach out to Jennifer Elizabeth Boland. Through her you can get strategies designed to address your unique long-term goals and financial dreams.

[@byronspencer-williams5126]

One of the bad things about living in the UK is you need 25% down payment to buy a rental property and you get a slightly higher interest rate on the mortgage too. I think it’s to deter the wealthy buying up all the property and cornering the housing market so people can own there own homes. In the UK there is a big emphasis to own your own home, it’s instilled from an early age.

[@biggerpockets225]

"𝐖𝐡𝐚𝐭𝐬𝐀𝐩𝐩" [phone]

[@LaughtersHouse]

Very similar in the US.

[@brunapalomaro880]

imagine having him as a mentor haha awesome

[@sajaldwivedi3163]

Hii brandon i have recently read your book "The book on rental property investing" and i loved it however I have a question and this is just some thing that can to my mind so i wanted to ask you that do legal rental property owners have any problem with the real estate mafia.

[@blueorangey]

Thumbs up???? I wish I had more hands!!! You are amazing Brandon!!👍👍👍👍👍👍👍👍👍👍👍🇵🇹

[@Mcomestoo237]

Finally something useful, thank you!

[@christopherbarreras9953]

Thank you Brandon

[@jenniferward8088]

Super helpful! I train jiu jitsu too! It's a great metaphor on starting something new and working towards any goal.

[@evelmaallen7125]

Thank you! Great video!

[@Isaactheshredder]

So helpful. Thank you

[@tyjameson7404]

Great video Brandon 👍🏼🙌🏼👌❤️Thank you!!🙏🏽

[@kimsy2608]

Why does the making an offer comes first before doing your due diligence?

[@DesiSegundoIII]

How long is your preapproval normally good for? I don't want to be pushed into something just because the preapproval is going to expire, you know?

[@comrtnz]

😲You moved to Hawaii! I've been out of the loop for a while. 🤣Choked out a 90yo woman, good job. 👍🏼As always, good tips. I'm hoping to get my 23yo old son into rentals. He saved almost $9k already. We're looking to use the low down, live in, multi unit strategy for the first property. He works 5 days a week, a plays video games on his spare time and kind off a lazy procrastinator. Do you think this will work for him? I figured if he gets a bunch of multi units with property management he won't have to worry about dealing with the rentals and can retire early.

[@davidfredrickson5193]

Thinking about a business to make money weekly,, With over 60,000 account holders blockspace has been at the forefront of the forex trading industry since 2016,access over 10,000 global markets and trade with attractive marginal rates..it is regarded as one of the best, most beneficial, brilliantly successful companies in the industry of forex trading and investing

[@YungJayInDaTrap]

Get this man in the UFC Dana!

[@featheredserpentofthewest2049]

Awesome..thanks. I love your books too man

[@marksmith4512]

How to you account for hidden defects like asbestos in vent registers or a sewer stack breaking?? How much do you set aside for reserves for hidden defects?

[@dpirkl4560]

Knowing the area and general construction practices will help with that part. Knowing professionals in mechanical and construction can give you insight what to look for and ballpark costs.

[@markn5604]

I think the only people making money from rental property investing are those selling videos, books or subscriptions as the numbers make zero sense. Lets take the two points made in this video, Cash on Cash Return and Positive Cash flow. Cash on Cash Return: I've looked at no less than 100 potential rental properties that ranged in price from $170,000-$350,000. In every instance without exception the property required a down payment of 30%-40% in order to achieve cash flow of just $200/month. With such a down payment the cash on cash return is about 1.5% which you could easily get on a Money Market Account and no hassles. Positive Cash Return: The video mentions a $200/mth positive cash flow. Lets put this in perspective. With a rental that generates $200/mth cash flow you'd need 80 properties to make $200K per year. The hassle factor associated with trying to manage this many properties makes working at Burger King a better option. Is making money from rental properties viable? I don't know, I'm just sharing my experience and observations but what I can tell you is the countless videos and books vastly underestimate both the potential return and degree of difficulty.

[@LoriLivers]

I use BRRRR to create my passive income - and live the life I want to live instead of life I thought I had to live 😍

[@tannerwoolley2551]

Would you recommend a BRRRR for a first deal?

[@LoriLivers]

@@tannerwoolley2551 yes! my first, and all subsequent properties have been acquired using the BRRRR strategy

[@tannerwoolley2551]

@@LoriLivers thank you!! Everyone we’ve talked to says it’s a terrible idea. Could my wife and I connect with you by chance to get your thoughts???

[@LoriLivers]

@@tannerwoolley2551 of course! I understand the hesitation some people find with the strategy. To be completely transparent - I do leave some money in the deal. So if you're looking to have no money left invested in the deal, than that is not the exact way I use the strategy. In my experience - this is where some people get concerned with the strategy.

[@tannerwoolley2551]

@@LoriLivers you’re literally saying what my wife and I have been saying for weeks now, why can’t you leave money in the deal?? You’re still gaining wealth, cash flow, and paying down equity? Unless I’m missing something that’s a huge downside?

[@svsoleil3255]

and what do do when another pamdemic comes and a new rent moratorium is put in place?...what do you do when the goverment says u cant evict anyone and u dont get your rent?...i just read new york city will be limiting rent increases to no more that 1.5 to 3% regardless of your costs....how come no one talks about this?..

[@babeedoll64]

Can you do a video on the pro/con of 15 /30 yr mortgage if it’s going to be a rental property

[@tristanxavier2082]

Hey all. If you watch his videos from a year ago, or 2 or 3 years ago you'll notice the process doesn't change. Thats because its really this simple. I found BP in 2017 bought 2 rentals in 2018, 1 in 2019 and about to buy 7 units before the end of this year. I could have bought much more in a shorter period of time. Fear and inaction were my barriers. Once people know you are an investor they will find you money, find you deals and help you grow, its ridiculous. Take informed action...do it today!

[@jenrysdam]

Get the longest loan term you can. You can always pay extra if you want to, however it's best to just save that extra cash to purchase your next investment property. Let the bank hold the debt while you build your empire. 20 years is usually the standard for rental properties in my experience.

[@shadrach6299]

I don’t manage my own properties myself. I don’t have the temperament for it. Where I live the management fees are not that high.

[@nycmarbel]

How about if you don’t have good credit to get Finance. Can a single family/ townhouse be rented after the owner(me) live in for a yr then rent??

[@mitchelladams8364]

Whats your opinion on renting out my primary home after it is paid off?

[@andream.thompson126]

Good Video l learned a lot about getting into rental properties. I am new to the real estate industry.

[@danielacker3615]

Good video thanks

[@nekosila]

My issue is getting my second property. I managed to refinance my primary to buy a duplex in full. So where do I go from here? I have a HELOC to pay back so where do I get money to get my next property? Fixed it up and have it rented for higher than I got it. Van I refinance the duplex to get another property or do I pay off the initial HELOC first? Can I have two properties with loans on them at the same time?

[@rentospropertymanagementso4895]

Very helpful video with great tips for the people who are new to real estate.

[@nonplayercharacterbot155]

I'm jumping in next month. Wish us luck! 👌🏽🤞🏽

[@sleezy3805]

How’s it going

[@natanlutt8866]

Any guidance on how to structure a partner deal? Meaning someone is putting in all the down payment or half of it and I'm finding the deal. How to split the profits if I (deal finder) would be getting an FHA loan in my name and living in the property. Thanks

[@nathanielcormier4930]

Yes

[@davidfredrickson5193]

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[@amross64]

Would these be the correct steps in the correct order for a BRRRR or flip property where conventional lending is out the window due to the poor condition of the property?

[@AberrantArt]

Any tips for Canadian Real Estate? The loans are much worse and the cost of homes are way higher. Cashflow is nearly impossible.

[@hofraxavier]

I know I feel you I truly need someone to direct me how

[@nateb4485]

cashflow is still possible but nowhere near what alot of US markets are getting, my advice is buy in a market where prices arnt crazy high yet, try and buy a house with multiple units or buy a house and convert it into a few units, the more units the more profitable it is. The way im going about this is trying to get property to atleast pay all the expenses +200-500$ a month, but most of the profits will come from appreciation and I will just cash that appreciation out every 3-4 years. Capital gains tax is very low compared to normal income so capital gains is a prefered form of income.

[@aaronpops4108]

I'm in Alberta looking into buying a rental property. Looks like I'd be lucky to have $50 cash flow a month, so short term it's barely worth it. If you are investing for the longer term though, rent will go up but your mortgage won't.

[@aaronpops4108]

Also what seems to kill the cash flow and roi here is income tax, which I think is pretty high here unless you are a big company with 5+ full time employees.