Real Estate Millionaire Explains How to Analyze a Rental Property for Beginners

Рет қаралды 5,654

Sean Pan

Күн бұрын

Пікірлер: 36

@its.graceaudrey 4 ай бұрын

Thanks a lot this is such an underrated video ! Your level of details is unmatched

@seanlovesrealestate 4 ай бұрын

Thank you for your positive feedback! ☺️

@mosqutio88 4 ай бұрын

Thanks for sharing. I've used your previous template version without the "Maintenance Reserves (%)" cell, which is by default reserved at 10% in cell D48 of the previous version. Your template helped me realize that there are too many deals that do not even yield above 5% COC ROI in the MI and OH markets.

@seanlovesrealestate 4 ай бұрын

I'll be updating the sheet with the new cell in a few weeks! Don't be discouraged if you only see low numbers. There's a deal out there that will work for you!

@WifeyPOV 2 ай бұрын

Was it updated yet 😊

@WarGamersChannel 4 ай бұрын

Very enlightening video. Always make sure a rental property is profitable from day one. A key factor is when is the ideal time to buy. Question: Would you buy this property today considering the risk/rewards? You mention property appreciation but that's not always the case. I'm sincerely asking as someone that would love to invest in real state one day. What is your bottom line when it comes to cash flow in a property like the one on the video? Thanks.

@seanlovesrealestate 4 ай бұрын

Thanks for asking! I would pass on this deal as-is. It kind of shows that deals on the MLS usually don't work unless you're buying in a super niche market. I try to target a 10% cash on cash return from day 1 (after making it rent ready).

@2Lavelle 21 күн бұрын

Should you take rental taxes out as well before you calculate your total cash flow?

@PulseGamingRd0923 2 ай бұрын

Do you have a video using your spreadsheet on a fourplex as an example? That way I can follow along.

@KJInvesting 2 ай бұрын

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

@sattsb7652 4 ай бұрын

Your baselines are wrong. For investment. banks want 25% and current rate of interest is 7.65% even for aggressive pricing

@seanlovesrealestate 4 ай бұрын

Most banks only need 20% down for single family housing (25% for multifam). The rates change all the time but I wouldn't be surprised if they're quoting 7.5%+

@bellscharber3095 4 ай бұрын

Very informative, thanks!

@seanlovesrealestate 4 ай бұрын

You're welcome! Thanks for watching!

@tonyg7372 4 ай бұрын

How do you find good property management companies?

@seanlovesrealestate 4 ай бұрын

I'll make a video about it later but it boils down to these methods: 1) Get a referral from a local agent (the one bringing you deals) 2) Get a referral from another investor that also invests in your market 3) Use Yelp/Google to find property managers and schedule calls with their team You want to have a list of questions to ask them and by speaking with them, you'll know who's a good fit.

@divyangvaidya1999 3 ай бұрын

Is it possible to attach the spreadsheet template in the comments?

@redescaflownedragon 4 ай бұрын

I don't know much about the current economic numbers or projections but for the last 30 odd years I've been alive a good number of people i know avoid Brownsville like the plague. If any numbers would convince you to do the same it was the hottest area for covid breakouts of all surrounding counties.

@seanlovesrealestate 4 ай бұрын

I don't know too much about the area since I don't invest there, but it's about a 45 min drive from Dallas, so I think there's potential.

@redescaflownedragon 4 ай бұрын

@seanlovesrealestate sorry Sean, whoever told you that lied Brownsville is over 800 miles from Dallas. I do agree it has potential, but I think it might pop off since SpaceX is there and not too far from South Padre Island, which is a great and thriving location for a beach getaway.

@preparedscouter2357 4 ай бұрын

Cool template!

@seanlovesrealestate 4 ай бұрын

Glad you like it!

@nellyphang3232 4 ай бұрын

Why not buy , fix , and hold

@seanlovesrealestate 4 ай бұрын

That's our main strategy and it works! This video was just an example of how to look at a deal if you buy it as-is.

@landrichplus 4 ай бұрын

Thanks

@seanlovesrealestate 4 ай бұрын

No problem!

@forwork2601 4 ай бұрын

This worked like 7 years ago lol. Definitely not now, good luck with that

@seanlovesrealestate 4 ай бұрын

People were telling me that properties were too expensive in 2016 (8 years ago) and the story never changes. This strategy works all the time, but you might need to look a bit harder for the deals.

@KJInvesting 2 ай бұрын

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