Net Worth Skyrockets After Your First Rental Property (Here's How)

  Рет қаралды 4,905

Sean Pan

Sean Pan

Күн бұрын

Пікірлер: 28
@camthemanis2kool
@camthemanis2kool 7 күн бұрын
Eh my first rentals water heater going out made me lose a year of cashflow. “Skyrocket” is a bit aggro here but sure it’s good debt leverage
@DK-pr9ny
@DK-pr9ny 5 күн бұрын
A water heater? Come on bro they cost like $700..
@Ghostly_Kaleb
@Ghostly_Kaleb 7 күн бұрын
i am 17 years old and your videos helped me so much because I relay love real estate
@seanlovesrealestate
@seanlovesrealestate 6 күн бұрын
Keep on learning!
@jensoutlet7196
@jensoutlet7196 5 күн бұрын
I created an LLC & now I want to buy my 1st rental property. Do I buy the property under the LLC? Or buy under my name & put it under LLC after? I'm confused on when the LLC comes into play. Please explain, thank you so much.
@chriscrank6050
@chriscrank6050 3 күн бұрын
If you buy it under an LLC you will most likely need a 20% downpayment. I would get an FHA loan for 3.5%. The LLC is for tax right offs for things that make your business money. You still are spending the money out of your pocket, you will just get a check at the end of the year. I don’t know a ton about LLCs yet but from my understanding you could fix up the property then those expenses you could write off on the LLC.
@chriscrank6050
@chriscrank6050 3 күн бұрын
Someone please correct me if I’m wrong, but I believe FHA loans are better to start with. Unless you have a lot of cash to work with already.
@eliasziad7864
@eliasziad7864 11 сағат бұрын
How to get interest free loans?
@wealththruturnkeyrealestate
@wealththruturnkeyrealestate 6 күн бұрын
Great explanation, Sean!
@seanlovesrealestate
@seanlovesrealestate 6 күн бұрын
Hey, thanks!
@BowenChen-sh3sz
@BowenChen-sh3sz 4 күн бұрын
I agree to most of your points in the video. However, this doesn't work in Canada. Our maximum years of mortgage is 5 years, that gave us super high interest rate risk. If it increases then you could easily get blown out by outsized mortgage payments. Also consider how crappy and partisan our laws protect tenants, you could easily get a guy who goes in your home and not paying rent, while no one can prosecute or vacent the guy. It's safe to say there's no net positive returns on rental properties in Toronto now.
@seanlovesrealestate
@seanlovesrealestate 19 сағат бұрын
Oh wow! Appreciate you sharing this information.
@HelloHello-ws2zo
@HelloHello-ws2zo 5 күн бұрын
You can sell options against your stock holdings. Sell options is similar to collecting rent.
@KJInvesting
@KJInvesting 5 күн бұрын
Thank you for perspective!!! I believe in discipline execution which allows me to build wealth in investing in turnkey multifamily properties. Getting paid in passive income in my opinion will protect you from investing in the volatility of the stock market's losses and gains
@silinicityYT
@silinicityYT 7 күн бұрын
Wass good sean
@seanlovesrealestate
@seanlovesrealestate 7 күн бұрын
Appreciate you watching!
@pedroescolta3274
@pedroescolta3274 7 күн бұрын
3rd one here
@LucyLiu-ey9wd
@LucyLiu-ey9wd 7 күн бұрын
hi :3
@DRAGON12321-g
@DRAGON12321-g 7 күн бұрын
Hi :>
@LucyLiu-ey9wd
@LucyLiu-ey9wd 6 күн бұрын
@DRAGON12321-g meow :3
@garyreid2472
@garyreid2472 5 күн бұрын
Skyrocket IF Tennants pay, IF nothing breaks, IF they done trash it, IF rates don't go up. There's so much risk. I do get the benefits but don't oversell it to people.
@seanlovesrealestate
@seanlovesrealestate 19 сағат бұрын
I’m not overselling it. Watch my other videos ☺️. Good points.
@garyreid2472
@garyreid2472 18 сағат бұрын
@seanlovesrealestate Makes it sound risk free. So much can go wrong and when it goes wrong it goes wrong big time
@DRAGON12321-g
@DRAGON12321-g 7 күн бұрын
5th here
@seanmcmagic
@seanmcmagic 6 күн бұрын
Hey Sean can I have a small loan of a million dollars? You said you have 5 million today in this video right? What's a million to you if you have 5, right? 😅
@seanlovesrealestate
@seanlovesrealestate 6 күн бұрын
net worth :)
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