How We Made $400,000 in Real Estate Profit - See Our Properties & Numbers

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Our Rich Journey - How We Made $400,000 in Real Estate Profit - See Our Properties & Numbers: We’ve made videos in the past on real estate. In this video, however, we discuss the details of three properties that resulted in a huge profit for us - when we only started with a $20K initial investment. We discuss the five step process that we used to profit in real estate. We also discuss three properties that we invested in.
Note that for simplicity, we have rounded the numbers (other than the sale and purchase prices)
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#RealEstateInvesting #PropertyInvesting #RealEstateInvestor #RealEstate101

[@OurRichJourney]

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[@d_themesmerizer]

I am stunned how professionally you guys have remodeled your homes.

[@OurRichJourney]

Thank you! We were also amazed but cant take all the credit. We used pintrest of design ideas and the mployees at Home Depot and IKEA were so helpful.

[@CryptoClass]

You guys are the prime example of couple goals. I know your channel is dedicated towards finance. But would like to see you guys talk about building trust between your partner with combining finance for young/new couples. Also, how to build a healthy relationship like yours.

[@OurRichJourney]

Thank you! And thank you for asking us do discuss that topic (.i.e trust, combing finance, relationships, etc) We'll certainly share our experience.

[@inerit5175]

Exactly my thought! You are NEVER going to be financially free if you have a partner that spends money like it was going out of fashion! Even if you save every dime! Sadly the reason for so many divorces ! ( Including mine!)

[@born2bmensch61]

Loved this video and content. I’m just happy when I see couples that are WORKING together 🙏🏼🙏🏼🙏🏼 (Stop by on IG.. if you can @ born2bmensch ) Thanks for this much needed advice. -Duke 🇺🇸🇿🇦

[@uchennauzoigwe9036]

@@OurRichJourney Please do. For couples, success depends on who you marry.

[@Bigboss-xe6lm]

@@inerit5175 Thats why me and my partner split our economy. She understands it. Because we have different kinds of spending behaviors. Im frugal AF. And she smokes and buys clothes all the time. (I stopped smoking and drinking because of my fat FIRE plans) So its important to share goals AND habits. Too bad that many people does not have the discipline to do so

[@sharon19945]

I would really love to see a video o your money mistakes and how you recovered from them

[@OurRichJourney]

Great request. We'll do it!

[@kuepandan]

Yes. Sama question here.

[@philipjames9034]

This is 100%true self made millionaire like Warren Buffett and Bill gates, never made it depending on paycheck neither were they salary onwer. I think investment should be on any wise one's list and currently all of it is online.in a month or two you'd be ecstatic about the decision you've made

[@razmiks.9472]

This is becoming my favourite informative KZbin channel. You guys are very inspiring. God bless you.

[@OurRichJourney]

Razmik S. - That is sooo cool!!!! Thank you so much for the encouragement!!!

[@JeffLifeInReview]

Still one of my favorite channels about “how we made it”. Unfiltered, very transparent, and honest!

[@vmashine]

Everything that you did financially was great but also what was great is your job fixing the properties. I have no words of how well the houses looked after your touch just like straight from a magazine! Amazing job!

[@TinyMaths]

I think one of the unintended benefits of what you have done (maybe it WAS an intended benefit) is that you have given your children a valuable education that, as good as schooling can be, will not be taught to school age kids in a classroom. I imagine them one day as adults, looking back on this, and suddenly realizing just how big of a lesson this all was for them. You're inspired me to start cleaning up my own little space and get my existence in order.

[@dialac1]

I admire you two!!! Honestly wow!!! It’s so beautiful when two people can be on the same page and same path

[@OurRichJourney]

Aww. Thank you so much. We know we are very lucky to have each other. Thank you for the love :-)

[@born2bmensch61]

dialac1 I felt the same way. They are WORKING TOGETHER 💞 🇺🇸🇿🇦

[@TalRick8]

Yep! That's right

[@racquelh9823]

I absolutely agree

[@HereBeBarr]

As a fellow creator, i applaud your style :) Right to the point. I hope I'm providing my viewers with this kind of value as well .

[@venkatameesala]

Yes. This is so true. There are no marketing gimmicks and crazy graphics or accents. Most other channels try to use crazy infographics and elongate videos without any actual content. I love this couple

[@OurRichJourney]

Thank you!!!

[@OurRichJourney]

Thank you!!!

[@SageGardening]

One of my favorite videos from you two. I'll continue to rewatch this one in the future. Keep dropping quality content. Can't wait for your next video about the renovations!

[@OurRichJourney]

This was one of our favorite to make. And we cant wait to share out renovations story. We have so many hacks and tips. We think you'll love it even more ;)

[@theapaige4605]

What was your interest on your equity loans when you refinanced and how much did your monthly payments go up on each property?

[@realsodasiathompson7710]

Questions: why didn’t you guys purchase a cheaper home in a great neighborhood? How did you choose your neighborhood? Any advice on how to start long term rental property investment?

[@StarlynsAgency]

so the first step to reaching high income would be buying a house, move in, fix it up and then refinance it to keep investing. lets see how I can apply in 2021 !

[@OurRichJourney]

Time to attack 2021!!!

[@simryusom8811]

I own 2 property.I think this video just change my life from living nearly paycheck to paycheck to cash flow! Thank you!

[@OurRichJourney]

simryusom8811 - I lOVE your comment!!! Good luck with your properties!

[@TheBlackItaliano]

I love the information you guys give through your videos! I'm a 20 year old college grad all the way from Houston TX that is looking to buy a property in the summertime. Thank you for the inspiration!

[@OurRichJourney]

WOW! 20!! You are on your way! Congrats on starting your financial independence journey at such a young age!

[@ScotteryPottery]

I'm from the bay area and respect what you guys are doing. The housing market is fierce. I'm looking into other areas of California because the bay is unreal right now.

[@ItsMe_TheVoiceOfReason]

U guys are inspiring me & my lady video by video...thx ..4real

[@OurRichJourney]

Awww! Thank you!

[@nickilanin6954]

I loved this so much! I’d be surprised if HGTV didn’t scoop you up! I would totally watch a fixer up show with you guys on it!

[@OurRichJourney]

WOW! You are too kind! Thank you! Thank you! Thank you! You just made our day. LOL

[@zayvier69]

One thing I wish you would address is how much your mortgage/monthly payment went up when you took the equity out and

[@kuepandan]

With cash flows like that, I think 1 or 2% is sustainable. Please spare thought for develop countries with interest rates still at 5-6 %

[@bridgetulrich1711]

I was curious about this question as well!

[@henryflores7492]

Same question here.

[@ramonflores3023]

@@henryflores7492 same here

[@femiosomo5212]

Actually the mortgage won't increase because what was pulled out is the appreciation on the property. As long as the amount financed does not increase compared to the initial amount previously financed, then the mortgage wouldn't increase.

[@MeezTelevision.]

Finally someone straight to the point and not trying to sale you nothing💯💯

[@Ali-ch3lh]

Just found your channel, two of the most inspiring people i've seen. Amazing how both of you are so focused on the same goals, absolute couple goals. Keep it up!

[@OurRichJourney]

Thank you so much. We are so glad you found us :-)

[@Gwen-joyful-light]

You two are what I call "POWER COUPLE" I'm so glad I stumbled onto your page and I've been binging on one video after the other for two days now! I do plan on pulling the trigger and buy your classes, thank you for being so selfless and deciding to share you journey with us. Btw, I too work for the gov't and I just borrowed $40K from my TSP to put a down payment on my new house, as soon as I pay that back and make the few repairs that I bought into with the purchase of this house I will begin to invest. I lowered my TSP contribution from 20% down to 10% while the repay deductions are coming out of my paycheck and due to Covid-19 I put my money in the G Fund at my age 63 years old I can't take the risk of having the remaining balance in the high risk funds but I left my Roth IRA contributions at $300 biweekly. Omg!! forget all that I just said, after I typed all that I watched your video teaching us how to open a stock account, I didn't know it could be down with only $10.00 but won't that take forever to grow with such a small amount of money?

[@frameirys]

Good job on the properties! They looked gorgeous ✨and great content guys. 🏆I love all your videos. Glad your channel is growing. I can’t wait for your next one. Please do more on real estate 🏡

[@OurRichJourney]

Hashi Girl - Thanks so much! So glad you like the video! We plan on doing more real estate videos in the future - mix everything up! :)

[@rybltbt]

Just curious how many hours you spend on rehabilitating the house.

[@sdls92110]

Ok, so y'all must be the hardest working ppl on the planet! Rehabbing houses is hard work (and holding down full time jobs and law school?), managing a family, etc. And you do it all with such grace and humility. At any rate, I love how y'all think outside the box and got to the finish line of your FI journey in a quicker fashion with the use of real estate. I'm also pretty blown away with the costs of your materials. And how you just go for it! I feel like so many of us want to do stuff like this, but we can't make that last leap over what's really a small chasm (when you do all the right planning).

[@venkatameesala]

I have watched a lot of youtube channels on Finance, but this is the best among all. You guys explain things so clearly and simply , without any marketing gimmicks or crazy graphics which most other channels do. I am 24 years old now and I am looking to implement everything your channel has touched on. Thank you so much

[@desmondmiller3198]

I love the information you are giving. Not working now but like to invest some money through fidelity but I live Jamaica

[@OurRichJourney]

Thank you Desmond!!!

[@c.w6593]

Hello! Could you make a video on how you manage your U.S properties while living abroad in Portugal? Do you have an assistant helping you? Do you plan on visiting the U.S every few months to check on the properties? etc. I would love to know please, thank you for your very informative videos!

[@jerome0929]

Been investing in the stock market for a year and a half and I feel like Real State is the only logical next step on my journey to financial freedom. Started late 2018 with $500 to today May 2020 with $33,000 I feel soon I would be able to have the cash for a downpayment on a property without having to leave my portafolio in zeros. Thing is I know the very basics of real state, how does refinancing works exactly? How long until I can refinance? I’m no handy man so how can I minimize repair expenses?

[@JJason406]

you could buy a new house

[@coolinnovation6019]

Love the serene music background! Love the clarity and full scope of understanding and detail on how you explain everything! Amazing!

[@ReadingTimeWithZa]

This video has snatched all my edges! I’m sharing this with my husband! We’ve been trying to buy a duplex in a desirable neighborhood but “life” keeps happening! This is great motivation! Thank you!

[@OurRichJourney]

Thank you! And great idea looking a duplexes. Have you also considered Tri or Four-plex. You can get an owner occupied loan up to a fourplex. Also be sure to get a copy of the rental income records for properties. Even duplex owners should keep good income records.

[@chrisfox9779]

Wow - great job! Having a like minded spouse who's equally into building wealth together is truly the best strategy. Obviously you two have the magic ingredient. We're looking forward to future videos from you guys. Cheers from Kiwiland (New Zealand).

[@OurRichJourney]

Chris Fox - New Zealand?! So very cool! Thank you for watching and taking the time to comment!!! :)

[@karenoberg4260]

Question 1. What about capital gains on the profit you made from NOT living in these properties for at least 2 years? What about real estate comission you had to buy when you sold the properties? 2. How can your mortage payment be the same after you refinanceed the house and took money out to buy the other properties?

[@olivarfitness2420]

Third time watching this, and every time it feels like wow, Muito obrigada Guys.

[@OurRichJourney]

WOW! Obrigado!

[@cherylvargas9187]

Amazing process that you two have! How did you get the permits to change the layout of the kitchen on your first property? Usually, a general contractor has to sign off on work where walls are moved, and windows are widened, etc. It wasn’t clear how extensive your kitchen remodel was, but that would be cool to know those details of what you changed on the kitchen layout.

[@louism.4980]

You guys are geniuses! How are you guys so skilled in a lot of different areas? You guys are investors, KZbinrs, and now builders? Where did you learn all this from? When you said that you bought your first property in 2013 when you were studying Law, I was like wtf that is unheard of! Truly remarkable, and I wish you guys were my parents. Much love and respect :)

[@chriscurameng2435]

I just want to say thank you to you guys. Everything you two have done and talked about on your channel are all the things that I have always wanted to do. But I have never had the knowledge and i never knew anybody that had the knowledge to do these things with stocks and real estate. You two are a heaven send. You guys are giving people like me who come from a modest background the road map and knowledge to create better life for myself and my family. God bless!! BTW I am from the bay area as well and it tripped me out to see that you two were from out here too lol.

[@greenerfinance1165]

Nice! I plan on getting into real estate this year. Very helpful!!!!

[@OurRichJourney]

Thank you!

[@tyriejohnson1397]

Question. Why was the first property downpayment so high if you did FHA? Wouldn’t it be 3.5%?

[@dylanajenson151]

Thank you for the interesting video! I don’t know if this was addressed in the comments but what about capital gains tax when you sell the properties? How did you figure that in I didn’t hear it mentioned. My understanding is you have to live in a property for two years before you do not have to pay capital gains tax.

[@linuxsurfer2002]

I have the same question. You are allowed to exclude up to $500k as a married couple (I believe) in gains if you sell your primary residence, but you can only do this every 2 years. It's possible that their level of income was low enough that the capital gains tax was nominal. These would have been long term capital gains (held longer than a year), so that also helps. I'd love to hear from them about the tax consequences!

[@pabartho]

This video should go Viral! Amazing story and technique. What makes even admirable is the fact both of you are on the same page and share the same vision: F.I.R.E I am a real estate investor in Chicago and I read so many books and decided to give it a try in mid 2016. Now I own 2 buildings, 5 units total and cash flowing well.

[@OurRichJourney]

pabartho - First, congratulations on starting three years ago and already owning 5 units and cash flowing!!! Second, viral?! - such an awesome comment! Please share the video with everyone to make that happen! Hehe! :) Thank you so much for watching!!! :)

[@cindyelizabethrangel1073]

"Granny flat" = dream come true. Smart strategies, guys! You guys are so fortunate with your path. Suerte!

[@OurRichJourney]

It was awesome! Thank you so much for watching!

[@ibzs540]

I've been following your story for quite some time and it's been an eye opener for me. Definitely changed the way I think about money, saving and investing. Thank you so much for making this content and sharing your experiences. My wife and I are about to close on a owner occupied fixer upper in Miami, our first property, and I'm pretty sure it won't be the last.

[@kings5223]

$20,000 and a ton of sweat equity. You guys are very inspiring.

[@Speedy300]

I believe you guys because I bought two properties for $3500 in Oklahoma and I have to spend $14k to renovate them but both of the properties are in a good neighborhood and will worth a lot more after renovation, which will be close to $100k

[@sincerelysandi]

You guys are awesome!! I'm learning so much after 3 videos. Thank you.

[@lindahon5109]

love your video and i did that, it's not because you put in 10k so the house get over 140k. if you buy a house in the area for 400k that mean the house will be worth 430k because the real estate fee and closing cost, than the market goes up about 6% a year, that bring the house up to 460k after a year doing nothing, if your neighbor area sale the house for 460k that bring up your house again so on. you can see that in zillow soon you buy the house you will see the value goes up. for 10k you put in the house if you did all the work your self maybe bring up the house 30k- 50k. thanks for sharing

[@tinkerbell1270]

Hi. You mentioned in one video that you check in a given market whether renting or buying is more beneficial. Could you explain how exactly you do that please?

[@OurRichJourney]

Thank you for the question. Since our response to this question would be very long, we'll develop a video to illustrate. Thank you for your patience :)

[@Philip8888888]

Great story! I saw only your investment videos before and had no idea you were also killing it in real estate!

[@OurRichJourney]

We love real estate! We have several real estate videos and will be uploading more. Let us know if there is a topic you want us to explore and we'll try make a video about it. Thank you for the comment!

[@bonsaikiss]

It’s not only $10,000 because of all the time and hard work they put in for the reno. Sometimes it’s worth it, sometimes it’s not worth the headache

[@abelflores1929]

Very inspiring and I’m telling a lot of my young clients to watch your channel I’ve learned so many things about investing and started to expand my portfolio thanks to you two.

[@SurpriseMeJT]

It helps to be in the right market (Bay Area). All that work in Dallas or Houston wouldn't yield nearly the same profit margin.

[@taniak8003]

guyyyyyysss! This is so amazing haha. ps I love how chill you always are it makes me relax aswell haha

[@OurRichJourney]

Awwww :) That’s very kind of you. Thank you!

[@1girlinpink]

This was great information. I'm looking to get a second house and this gave me some great ideas. Thank you for sharing.

[@OurRichJourney]

So glad you enjoyed. Thank you!

[@f913]

You guys have been a big inspiration for me and my husband.

[@hnrocket]

You guys are so refreshing, no bs, just a lot valuable content...

[@My.Eden2.0]

I just discovered this channel and I’m in love! You guys do such a good job and are such an inspiration! I look up to you

[@OurRichJourney]

Thank you so much! We are so glad you discovered us! Please let us know if you have any questions or would like us to prepare a video on a specific topic. Thanks again for your kind words :-)

[@sheilarosa1703]

Loved the video. Thanks for making it easy to understand.

[@OurRichJourney]

Thank you! We tried to boil it down to the highlights. Glad you enjoyed!

[@evshb]

Hi guys,how to search for a particular fixer upper homes..could u suggest any websites!!

[@stevenspithaler1979]

Thanks for sharing. This is very impressive example of what timing, a plan, and hard work can create. Doing is the best teacher.

[@OurRichJourney]

Right on! Thank you so much for watching our story :-)

[@griezhial]

Great content! I’m a new subscriber, and love watching and learning from your channel. I love how detailed your explanations are, and your presentations are easy to understand. We live in San Diego, and currently have a rental property. We are wondering whether to cash out refi or wait till we save deposit for our next rental. We got the rental house in 2015 and have $200K equity. We are cash flow positive on the rental ~$600/month.

[@itsk3v]

Thank you for being so transparent and open about your financial journey. It is really helpful and I am learning so much!

[@NolimitatioNYC]

Being a DIY contractor is a great skill and a huge money saver.

[@Sayfso]

Love your breakdown, very informative - thanks for sharing! Congratulations on all the wins, I'm sure the struggles of fixing up these properties are tremendous, and more than can fit in this video ;) Hope you don't mind sharing: how did you acquire the skillsets to be able to do all these amazing renovations and refurbishments? As someone who has only ever needed contractors - that sometimes charge exorbitantly - I recognise the value of needing a skillset like this to minimise the costs you pump into the projects. I'm enjoying your video series a lot, keep up the good work !

[@OurRichJourney]

Thank you! That is question we get all the time. We'll develop a detailed video but the short answer is..we built up to it. Do you have a Habitat for Humanity in your city/community? It's a non-profit group that has volunteers build homes. They're motto is: "Anyone who can hold a hammer or a bucket or a paint brush" is welcome to volunteer! We started with volunteering with their builds. We also tried to do little things around the house and then bigger things to increase our skill set. Places like Home Depot also offer free workshops. Of course, there's also KZbin! :) The renovation we did on the first home was new territory for sure. But we spent a lot of time planning how we would do the work. Hope that helps! And thanks for watching!

[@davidandronicomusic]

Just found your channel today and I’m on my 4th video. I’m inspired! Going to keep binging and eventually buy your course. Thank you for the amazing videos and knowledge!

[@GetIn2uitwithChristine]

Congratulations! Thank you so much for sharing your information and offering guidance.

[@MoonLightOnWater1]

I was able to make $100k profit in 3 years after only just under $10k invested in my owner occupied home. Now I have two unoccupied homes that I’m rehabbing but I don’t self-perform the work so the profit will not be as great. Thanks for providing your step by step guidance.....thought I made my profit before finding your channel, I’ll use these great steps for future properties.

[@rosetang5617]

You guys are so smart and awesome. I have learned do much from you. Thank you. I was planning to buy a 1.2 million house, after viewing how you buy and sell the houses, which made me think maybe I should use the down-payment to flip the houses.

[@ruthklaba7541]

I dont have money or husband but you guy are my model for wealth both with my money, relationship and family

[@tahaachannel7061]

The both of you are such an inspiration to everyone, I love your videos. When you make your AirB&B video, can you include areas that you think are best for AirB&B?

[@OurRichJourney]

Thank you so much! And thanks for the recommendation about what to include in the Airbnb video! We love it when we read comments about what people would like to see! :)

[@mase202]

Im curious on what kind of loan did you use on your second and third home and how did they lend you if you currently had a mortgage on the first and second home?I was under the impression that one cannot use a equity loan for down payment and closing cost on other properties . Thankyou for your time

[@kmurphy1022]

So inspiring! Where in the bay was your 3/1 house?

[@reseller7]

Oakland, CA. You can see it in the listing of sales.

[@joaquingarcia3895]

Your Investing skills are amazing! lol I'm doing the same things you guys are doing now in stocks

[@OurRichJourney]

Joaquin Garcia Thank you so much! And we’re so glad to be in the journey with you 😊

[@felicianogoodwin5626]

Hi. This is the second video of yours that I have seen and I have now subscribed. You guys are very inspirational and all around awesome! Keep up the good work, thanks!

[@OurRichJourney]

Feliciano Goodwin - That is a really lovely comment!!! Thank you so much for subscribing! We love that you like our videos!!! :)

[@roberta5665]

Loved this. Thanks for sharing 🙂

[@OurRichJourney]

So glad you enjoyed. Thank you!

[@kaydeeeeeee]

As a single woman your videos are very inspiring. I'm working on getting into the real estate space to create another stream of income.

[@yanfeiwang]

In Europe, it is not allowed to rent any property out with mortgage. And if you buy and sell within 5 years, you will for sure lose money because of 2% tax on the property.

[@TheKhaosripit]

You guys should be guests on the BiggerPockets podcast. They have a KZbin and I think you can help a lot of people out that way but great job and I'm so happy to hear a couple being financially free and taking care of their kids 👍

[@donovanwilliams6999]

Thank you both. This is a goal for my wife and I.

[@Holisticmusarat]

I’m wondering why sell the properties? Wouldn’t it make sense to keep them, pay them off and always make them income generating? What did you do with your profit? Reinvest only stocks?

[@ThuyNguyen-nc7hc]

This is the best videos on KZbin. You both incredible sharing your experience and give us step by step. 🙏❤❤❤ God bless you and your family. 😇

[@OurRichJourney]

Awww. Thank you so much! We really appreciate the love :-)

[@chinito1724]

This is great. Teamwork makes the dream work!!!!

[@OurRichJourney]

LOL! We say that all the time!!! Thank you!

[@cudjoekey2334]

Would love to do this in the Florida Keys, but the cheapest property will be 400-500k that needs fixing up in any neighborhood and we can’t VBRO. Thanks for the info tho cuz it’s good for all other areas that aren’t tourist destinations.

[@OurRichJourney]

Thanks for watching despite it not applying to where you live. If you decide to invest in a non-local area, we hope the video will be useful! :)

[@mattamaral7492]

What resources did you use when learning about how to assess a property and it’s surrounding (before buying the property)?

[@BabyC772]

I'm so glad I've stumbled across you both, you guys give me hope that there is light at the end of the tunnel!! Tons of great information and brought about some inspiration in my own journey. Thank you!!

[@OurRichJourney]

Cristina Daniel - We're so glad you stumbled across us, too! Thank you for watching and taking the time to comment! :)

[@sunshinedayz4086]

Thanks for great advice! What do you guys do with children's school when you change houses and location often? Are they home schooling? My challenge is my middle schooler. Any advice?

[@JoseAntonioMartinez86]

Hi, thank you for sharing this information, it was very useful. However, I’ve been reading about this topic and some people do not recommend debt leverage to build wealth. There are many cons that can impact your investment, for example, unexpected maintenance fixes, bad tenants, pandemics, etc. Can you guys please share a video on the cons and how you were able to manage all that risk and debt and sleep good at night?

[@yameenhamid]

Hello guys! Great informative video. I have a short query: what is pulling out equity and how to do that? (I'm sorry it may sound silly, but don't understand this part!)

[@ingridduque6585]

Have you guys discussed what percentage of your total net work is Real Estate Properties vs Index Funds vs Stocks?

[@kylehubbard5593]

Love your channel! How did you protect against capital gains tax? $400k in one year puts you in a high tax bracket, giving back 25% + in taxes is tough.

[@Michelle-amusedjellyfish]

Kyle Hubbard I have the exact same question after watching this video.

[@axaflaxar]

LMAO! I can't believe what I am hearing. You guys did the same exact thing I did once. Awesome! I bought a 2 bedroom condo for 90 K. Worked on it for 4 months after work and the weekends. Moved in it. Stayed for a year. sold for 180 K. The only real money I ever made out of my full time job was through real estate investing. Be it property or real estate stocks such as REITS and Fannie mae stock.. love the vids

[@OurRichJourney]

Thank you!

[@arizonawaterworks7182]

Can you explain how you were able to maintain a $2500 /month mortgage after your $400,000 initial purchase went up to $600,000 after refinance?

[@yumi12346]

I'm would like to ask the same thing

[@orestispalampougioukis6043]

Hmm, weird that this seems to be the only question without a reply from them.

[@Bik998]

You dont have to change your monthly mortgage instalment. And the increase was added value and not loan coz they only owe the initial loan to the bank not the increase in the price etc. Xx

[@joefunk76]

Neetu Aulakh I originally thought something similar to what you wrote, but then I didn’t because the OP is correct. If they refinanced in order to withdraw the newly appreciated $140k in equity, that would HAVE to increase their monthly mortgage payment.

[@ruisilva5916]

@@Bik998 but if they refinanced and took that money out, the monthly payment would have gone up unless they kept the payment the same and added years in amortization period. Another thing is it doenst say when they refinanced, so after she graduated, they started putting more money down, so when then went to refinance its possible they had payed off a much bigger chunk of the original amount. Maybe the borrowed amount is the same as the amount they payed off, which would bring the borrowed amount back up to the original number or the same 2500 a month.

[@annea.1765]

In addition to learning how to diy the renovations...what else do you check for so that a house is not a complete dud or require too much expensive work? ...awesome video. Thank you so much!!

[@annea.1765]

...another question...what do you think about purchasing foreclosure homes?

[@OurRichJourney]

Anne - Thank you! So glad you like the video! A home inspection tells us a lot about the property. For example, we were looking at purchasing a property, but once we had the inspection done, we found out there were too many structural problems that would cost too much money to fix because we would have to hire someone to fix them.

[@OurRichJourney]

About foreclosures - they can be great deals. The only thing is that you can't always do an inspection and you don't have the same type of contingencies and safeguards to back out of the deal.

[@crowderscustomizing]

Where is the video on how you got materials free or cheap?

[@savoirfaire312]

GOOD STUFF‼️‼️ I used to do flipping until the market CRASHED in 2007‼️ Ur 1st house process sounds EXACTLY like mine...but I didn’t reinvest...I’m waiting for the 2ND crash now, so I can buy properties again at foreclosure rates & hold them til market is BULLISH AGAIN. Thanks guts‼️👍🏼

[@kmaddox12]

Advice needed, please! If we have a duplex with a payment of 617 monthly that is bringing in $1350 and a 3 bed $700 payment with rental at $1150 and a 2 bed with no payment bringing in $900 and the last property with a payment of $230 bringing in $800 - WHAT would you pay off or do if you had money you had to put somewhere? Enough to pay off one or two properties OR pay down our home loan which is now at 50% balance......... these incomes are our retirement...... we are just tossing around options and would love your input.........we too talked about selling our actual residence and downsizing or renting.......... Thanks in advance for your income and wisdom.

[@EllaSHeath]

I absolutely LOVE and I am so inspired by your story... but this numbers only work because you were in San Francisco. We lived there too and I can see your system working perfectly there. We are now south est, in the suburb of a less interesting city and I cannot imagine get that type of return.

[@jononfirebudgetinginvestin3897]

I feel like I made a big mistake. I bought my first property (1 bd condo w garage) for 167k close to NYC. It was already renovated. My mistake was that i did a 15 year mortgage instead of a 30 year mortgage. So I’m not confident that I can cash flow and in fact if I rent it out I don’t even know if I can break even. Fortunately, I have a good job, and I’m saving money on rent and gas (closer to my job). Idk if I should keep it as a rental in the future or sell it (hopefully for a profit, but lucky if I break even). In the meantime, I’m gonna start saving up for my next downpayment!

[@unavocatepice]

This was very inspirational for me! Thanks for the information! I think I have been doing something similar, but with different inputs. I purchase in "not so great" neighborhoods - but with "new builds" close to the downtown Denver area...

[@OurRichJourney]

Miranda B. - LOVE this! I love the tangible piece of real estate - where you can watch your project transform! :)