How To Get Started In Real Estate

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[@Healthwithleo]

just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@MilkovichT.Sandlers]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge

[@MarcelMcGowan]

Very true, despite having no prior lnvesting knowledge, I started lnvesting before the pandemic and pulled in a profit of approximately 950k that same year, In reality, all I was doing was getting professional advice.

[@adelineChulack]

How can I participate in this? I sincerely aspire to establish a secure financial future and I am eager to participate. Who is the driving force behind your success?

[@MarcelMcGowan]

I'd say a little due diligence on "Dianne Sarah Olson" truly exceptional...

[@RosadorcasSladeWiggins]

Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks

[@dianesullivan5338]

It’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[@JosephineKenney]

A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?

[@HildaBennet]

Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a broker, before I started seeing any significant results in my portfolio, been using the same Adviser and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@PennyBergeron-os4ch]

I tried looking into new strategies to profit in the current market because my portfolio has been in the dumps for the entire year, but everything I tried just seemed to miss the point. Please let us know who your asset manager is by name.

[@HildaBennet]

Her name is Sharon Lee Peoples. Hope that helps

[@PennyBergeron-os4ch]

Just copied and pasted Peoples on my browser and her page popped up immediately, thank you for saving me hours of researching.

[@shizue-w7n]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

[@mertie-l2f]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@myrle-v4g]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.

[@jeanlaudato]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

[@myrle-v4g]

ANGELA LYNN SCHILLING is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets

[@myrle-v4g]

My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@WillMotivation]

Investing in Real estate has changed my life dramatically. I highly recommend people consider owning real estate as a part of their investment portfolio.

[@letsgotomarsman]

Will Motivation wish I could

[@sha_la007]

I am planning to buy this year, however, I want to take my time. The market in NC especially Charlotte is so competitive. I am looking outside of this area.

[@keyroncampbell]

@@sha_la007 look into the smaller areas...

[@sha_la007]

@@keyroncampbell thanks! I have been. Places are going so fast and they are also over priced.

[@sha_la007]

@@keyroncampbell thanks you so much for the advice!

[@ienjoyapples]

I wonder what it's like having Dave as your landlord.

[@dillonh321]

He will tell you how to budget your money every bill sent to renters.

[@dlnoir5960]

@@dillonh321 why would he do that? They'd just take the advice and buy a house and now Dave needs new tenant

[@jaye9300]

His son-in-law manages his rentals. I highly doubt any of his tenants have any direct contact with Dave. Dave’s got his hands full helping change America‘s finances with Ramsey solutions.

[@axxxingforanswers4648]

@Jumbo Palumbo OF course he is...he doesn't TAKE EXCUSES!!!... Dave; "I'm here to get the rent check....it's now past due...." Tenant": " But Um.....I don't um have it...um...My other bills....UM....my car payment...Um....." Tenant is clutching the latest I-Phone with data plan, a leased luxury car in the driveway, Satellite dish on the roof..... Dave: "I'm here to post a three day notice......better start packing or...call the Wahm-bulance!!!!!"

[@blakejensen2052]

ienjoyapples He isn’t a landlord technically. He pays a management company to do all the dirty work

[@miguelpoky2]

A phenomenal tip I have is to improve your people skills. Learn about salesmanship, reading people, personality types, body language, how to effectively communicate, how to win people to your way of thinking, you can have all the real estate knowledge in the world but, if you can't actually communicate effectively with people than it will be a lot harder. A lot of real estate isn't about the houses it's about the people dealing with them. The more you learn the more you earn.

[@felipenaran4152]

Good tip. Thanks!

[@detailedemoji4615]

Is that a Jim Kwik quote?

[@iliveinsideyourhouse3943]

Ok imma reading how to friends right now

[@sorenv98]

I am 14 years old and I just got hooked on real estate! Trying to educate myself and start early✊🏼

[@MBATheGreat]

Same

[@MBATheGreat]

It sucks you have to be 18 😢

[@rileyredli8787]

@@MBATheGreat save ur money and when ur 18 it will make the process easier

[@jaydee3696]

Good job! I recommend saving for college first, then once you’re out of college (if you choose to go) THEN start investing. Taking out loans for college is the anecdote of investing

[@fnluxks1388]

Wait do you have to go to college to get into real estate ??

[@MiguelGarcia-rv3nj]

Dave R. I dont know much English but I know I have the words I need to have to appreciate all you give. These are; THANK YOU SO MUCH!

[@tigerrx7]

First time hearing Uncle Dave going this deep into real estate. Very solid knowledge transfer here.

[@rachellawrence702]

I love how helpful Dave is! Not everyone would break it down like this!!

[@phazon100]

Rachel Lawrence Rich Dad is way better

[@johnclancy3998]

I make over 10 000 USD each month thanks to FRO ZEN PA.C OM

[@purplepurposee]

Yeah fr . Cuz everyone else are losers fr lol

[@purplepurposee]

Others only see money not a helping hand ✋🏽

[@paulywang]

@@phazon100 Rich Dad? Way better? Where's his company now?

[@raulgolfs]

This is exactly what I’m looking into doing as soon as I get through baby step 3! 🙌🏽

[@TrailerCashAcademy]

Learned a ton in this! Thanks for sharing!

[@antonnishingles2412]

Awesome info! Especially the ballpark percents ranges at the end of the call.

[@realestatetipstrickshacks9488]

Great info. Dave.....TKS

[@compare-long-distance-movers]

Very valuable info! Thanks.

[@michaelsimolke1152]

Most real estate agents don’t know about or care about real estate investing. They mostly care about selling homes, after all that is their job. They aren’t supposed to be savvy on making money on real estate investing.

[@dillonh321]

This

[@CoachatCole]

This is the most realest comment I’ve ever read on KZbin. Real estate agents don’t have a clue on the true value of a property and usually could care less about getting top dollar. They sometimes if not always collude with the other agent on how to best get the deal done. They are operating from their own self interest. Believe me when I say that.

[@realestatereality5445]

Buddy they dont even care about selling homes they're the laziest people on earth you have to do their job got them most of the time

[@betterhomesnc2437]

That's not true, quite a few realtors I know do real estate investing themselves on the side.

[@trentnobles9814]

I now some on both side of this. I am one who is interested in investing and working with investors. But that's not everyone in the business. I know plenty of people who are just trying to make the next deal happen as soon as possible.

[@ckolodin]

I am a realtor, disclaimer. I have invested myself on several pieces of real estate. We also handle commercial transactions for clients. A professional experienced realtor is invaluable. Remember, if you are a buyer, you don't pay anything to hire a realtor.

[@reymondjames1726]

Dave is the best. I trust him.

[@youwillwindaily]

Want to learn real estate? A very good place to start is signing up at your local REIA ( real estate investor association). Almost every decent size city has a Reia. And the cost is around 100-150 per year.

[@joycecastona5327]

Keep in mind though, there are property taxes, insurance and maintenance every year. Rental properties have expenses and renters live pay check to pay check and often have issues paying rent.

[@TapInWithAshton2214]

Nice way to talk your self out of making extra money.

[@keithg1955]

Thats why you do a background check and get their ss# in advance

[@butskiiueepp1625]

I think it’s fair to say 95% of people live paycheck to paycheck. Investing in real estate is one of most sure fire ways to grown exponential wealth. Also, investing is INVESTING. Unless you’re actively trying to flip a property then it’s not a get rich quick scenario. Growing wealth takes time, especially if you don’t have a large income.

[@peterpekic5331]

Buy a 2-Family Flat..... live in 1 unit, rent the other.... and off you go!

[@apophispnw5717]

"House hacking" lol

[@illiteratebeans6924]

Apophis PNW ^* DlLDO But

[@j.davila4523]

Exactly

[@johncolorado1061]

Remember guys the max you can get with a conventional loan is 4 units. The more the better I say

[@cactusjack2264]

Why only two when you can probably get something bigger for around the same amount and rent out more space and earn even more money?

[@explorecalifornialife]

Wow this teenager is giving all of us some serious goals! Awesome. Great work

[@libertaliagroup]

I just love the energy of this man 😄

[@signetinvesting]

Excellent advise!!! Real Estate is understandably very intimidating for investors. Education is key in both a broad perspective and positioning yourself correctly for your particular goals is key.

[@oliverweldner8704]

Thats nice advice. If you look at 50 properties you get a really good feeling about what you get for which price and the best of these 50 is still representing a good property on the market.

[@Gottamitchemall]

Great advice

[@livefromdagarage]

Daves right on the money. It really depends on how much you spend on the property. I just bought my first rental/residential property for $160k add in another $15k I'm putting into it puts it at $175k. Property is a triplex with 4 units. 2 1-bedroom apartments and 2 bedrooms with a shared bath. The 2 bedrooms are on air bnb and generate about $1000/m. One apartment is rented for $800/m and I live in the other. $1800/m before including my apartment or the extra $200 I could make renting out my detached 3 car garage which I keep for myself.🙂 Its only been 4 months but happy for what the future holds. Much Love, from Philadelphia.

[@saranwright7113]

I live in Philadelphia 🙂🙂

[@MrSlim-zv6sc]

Thats great. What part of Philly?

[@saranwright7113]

Iceberg Slim west philly

[@livefromdagarage]

I got it near LaSalle University. One of the few areas in Philly you can still get a good deal on property with some land on it.

[@saranwright7113]

Sav Bee can you tell me step by step what u did ? I wanna start . I would appreciate it. Like how much money should I save up , where should I look etc??

[@thediamondace4173]

Amazingly awesome real estate video!

[@sunset6010]

EXCELLENT advice !!

[@ChrisInvests]

Trust the agents but verify the information! They will not be as fussy as you are when committing to a property for possibly the rest of your life 🤔🏡

[@canman5060]

No. Get the agent to represent your not the seller. This is the important start.Secondly, that agent is no so pushy on you.

[@cherrytung]

@@canman5060 so true! Always get your own agent, so the agent will work for you best interest!

[@MgtowRubicon]

Every agent I have ever involved in a transaction has ALWAYS abused me, lied to me, robbed me. Learn real estate investing and financing the way professional real estate investors understand it. Agents cannot teach you anything worthwhile. If you cannot make money in real estate without using any of your own money or credit, then you won't know how to make real money with your own cash or credit.

[@chrisrefaei]

Amen to this im currently struggling and back and forth of should i go into financing 3 houses instead of just buying one cash. And out of all the bs of why to and why not i love the first statement Ramsey says which is (paying for the lump some in cash makes you slow down...) You care more now because it's your money not the banks not private investors but yours so you're really paying due diligence. Thank you Ramsey for the indirect pep talk.

[@judymckee5992]

chrisrefael, Somebody I know had 2 million bought properties with 10 million, in 2008 downturn went bankrupt. Moral of story, do not bite more than you can chew. 3 to 4 years time, your opportunity will arrived, not now.

[@pmbarro]

I'm an appraiser for my county and I give God the glory for my job because I study and know the real estate in my area. Im just getting started in investing on real estate.

[@mattsonwardy12]

Like the new music Dave!

[@ChrisInvests]

I just made a video about house buying but buying a rental can often be harder. You need to make sure the cash flow is enough to cover ALL expenses...roof, septic, windows and everything in between 💵🏡🤔

[@cherrytung]

Hey Chris, this video is you!

[@canman5060]

Just keep on knocking down the price till the return meets your expectation for rental property. That's all it is !

[@davinapantola7188]

The important distinction between investors and speculators is not a normative one but rather that investors are generally more interested in the process underlying prices, they are in it for the Long haul, while speculators are more interested in price itself and with shorter time horizons so which one are you.

[@jesseaustine8358]

You're right I myself started out as a speculator

[@bitcoin8138]

Many smart investors have lost their fortunes in the stock market through speculation although many have done well for themselves

[@jrnycrypto9866]

I started investing my money with Mr Harrison he's the best person to invest your money with, he makes me good returns weekly

[@adamsmith7927]

@@jrnycrypto9866 Mr John Harrison also helped me invest my money the right way, he's the best so far, I make great returns weekly

[@marylouise4978]

I can also attest to Mr John Harrison skills in the forex market he's a great trader and a mentor to me and my daughter

[@JenMaldonado]

Keywords Dave. Due diligence and real estate investing strategies education are key!. You don't have to spend thousands of dollars to start. Go to networking groups, learn the numbers, and due diligence before jumping. Now, during the pandemic they have to be even more conservative with the 30% discount.

[@lane.merrill]

This video brought back my respect for Dave Ramsey.

[@realestatetipstrickshacks9488]

Very Informative....Like....

[@prestonmcgurk4772]

Great advice

[@granthandford]

Makes total sense.

[@bighands69]

Before you start in business you need to understand book value vs market value. Just because you spend money does not mean the asset is worth that.

[@raymondtongolei6019]

Buy below the median price.

[@jball34337]

🔥 I’m smashing the 👍

[@cherrytung]

*The more knowledge you have the better off you are! Knowledge is power!* Your agent might be somewhat annoyed if you shop around a lot, but who cares? It's your money, your rental property, and you should make sure you're getting what you wanted!

[@jvoutdoors8385]

Has anyone else noticed the private jet on his computer? He better not finance!

[@zill0678]

you think hes going to beans and rice it?

[@KindaRustySocks24]

zill0678 hahahahah

[@Mahinge]

😂😂😂😂

[@PORTMIAMIMIKE]

Why not finance and lease it out🤔

[@blakerich5804]

He teaches people how to be safe. The rich know debt is crucial. He is just talking to the financially illiterate and help them out of debt. Some people can’t handle leveraging debt. But if you EVER plan to be wealthy you will have to at some point.

[@suzannas.4965]

Definitely learn first. Don't feel pressured. Be in control. I found real estate investing course through LinkedIn learning. Really good.

[@j.a.6866]

Suzanna S. Love LinkedIn learning. Thanks for sharing. Was it a free one or one you pay for?

[@suzannas.4965]

@@j.a.6866 I'm in Canada and can get it for free by going through my local library using the library card. I am truly amazed the amount of info I can get in 1 hour. It really gets the ideas flowing and more.

[@abbieamavi]

*this was exactly what I needed to hear.* 😂

[@jackstraw5527]

Remember when the DR show was just old Dave and his sage advice, and of course the callers? I really miss those times. It used to be if someone was struggling with money and I could convince them to just tune into the show, it would change their life. Now I can't even recommend it because I don't even listen to it. It's so hit or miss and for me with the co-hosts it's been 75% miss! Forever grateful for all that I learned along the way, hope this program can still reach people.

[@landlord5552]

I am very conservative. I payed off my house first(now I save 900€ every month). Now buying rentals one at the time with maximum 50% levarage and never bet against previous property (one at the time) and never ever against my home!!!

[@tfcompleteprivate6312]

Tough (impossible) to get house at 70% of value here in Eastern Mass. most are going for more than asking and sell in a weekend. I couldn’t agree with the 1% rule as far as rents.

[@jayc4715]

Buy distressed properties and foreclosures

[@Thecrazynecklacelady]

I'm in Atlanta, too. I took the 3 week real estate license course with Metrobrokers for $250-500 depending on your contract choice. There's also an accelerated 2 week program.

[@younghat5]

Jennifer Kindle I’m in Atlanta let teams up if interested

[@maidieuhanh]

Is there a website that shows houses comparable in price and features of a neighborhood?

[@roottekele4269]

I have learned a lot about real state from rental income podcast .

[@linkbelt111]

Here’s the problem, MOST people in the middle class will not get past 1 or 2 rental properties before being heavily scrutinized by the lending process. A couple with a low 6 figure income most likely will be lucky to finance 2 additional properties, but it’s a good start. You have to start somewhere.

[@georgedrexel8867]

Plenty of different lending options, don’t just rely on standard bank lending options.

[@joselemus5294]

The prices at Alpharetta are very high, I recommend you to try to buy at Dallas Georgia.

[@keyroncampbell]

Yep... All the prices going up in the Atlanta area too.... I'll wait when the market goes down again, it's just a matter of time... The market goes in a circle

[@iluvrachellef]

@@keyroncampbell That's what I'm waiting on. I'm in Az.

[@AlexGray]

Yup, Hiram/Dallas area still has well priced homes. Alpharetta is inflated due to Avalon and downtown Alpharetta being built up

[@mikemorgan8646]

Place lowball cash offers and see who is motivated enough [AKA] desperate enough to close. Got it Dave.

[@webfreakz]

Money is made when you buy, not when you sell!

[@kavinpatel2748]

Imo that’s thinking too small. The difference or 100-200k for a deal every few years is too little ROI for the effort it would take to find these deals to low ball. Pay what is needed to close profitable deals and don’t waste opportunities. THINK BIGGER!

[@MichaelP-ke1tm]

No agent is going to write contracts like that. You'll have to communicate with the sellers yourself

[@andrewshooter]

I bought my house for $73,000 in good condition four years ago with good schools and a great middle class neighborhood. The previous owners had bought it for $88,000 ten years prior. They accepted my ALL CASH low-ball offer very quickly and with very little negotiation. I asked my real estate agent about it and she said cash offers really motivate sellers to accept because it could save them thousands of dollars from not having to pay additional months of mortgage payments while waiting for loan stuff to process. I don't know much about real estate but that seems reasonable.

[@MichaelP-ke1tm]

@@andrewshooter It doesn't take months to close. It takes 30 days. What area for a $73,000 home is middle class?? Must be in the Midwest somewhere in Alabama, Indiana or a rural area.

[@endurex4180]

He just need to educate himself on Real estate investing...Chris will be fine

[@ShawnRealty]

I think Dave’s aggressive approach on buying at 70% market value and 1% rental rate... In Portland Oregon market in 2020, I would be on the sideline for the rest of my life with those number. I find properties around 90% and .5% and would be happy.

[@han1218]

Yeah, something is wrong with those ratios. Houses are way more expensive now in whole country, and although rent is high, it's not that high in comparison to price of house.

[@Josh-ii1eq]

Owe 50k on my current condo, bought another one for $110k - put $30k down (Zillow worth $165k.) I know Ramsey is against it but I'll be paying $1,600/month for both properties and take home around $10k/month. Just an offer I couldn't pass up on.

[@jamesharding6758]

I wanna watch this video all day

[@BeyondTheClippers]

Invest in smaller markets. That's what I do. Cap rates are way better.

[@jasonjosephlee]

Dream of retiring early and living life on your terms? Buying rental properties is the smartest retirement plan, providing ongoing income for the rest of your life. Getting started, can be as easy as buying a duplex, living in one unit and renting out the other one.

[@markkao9954]

Invest in something that will cash flow at a min 5% annual return on your out of pocket cost. With the low int rates and the history of appreciating rents (hopefully property appreciation as well) you could in theory raise rents 5-10% each yr

[@jessicaolson490]

If you raise rents like that you will have a much higher turn over which could end up costing you more. (Lost month, repairs, ect).

[@epicscoreCS2]

I look for a house that pays 2% of cash i putt in it a month 100k=2k/month ~12% a year -running cost -loans on it. Hoppe it helps some one.

[@wendierenard548]

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Teresa Alice Butler

[@samstrong912]

I'm glad I was introduced to forex trading and got the best teacher and mentor who helped me understand the financial market I'm grateful to Mrs Teresa Alice Butler 🙏

[@megantyo9]

It's a miracle and I would testify, $110,000 every 4 weeks! I now have a big mansion and can now afford anything and also support God's work and the church.

[@macdenise3203]

I have made more than 90K USD God bless Teresa Alice Butler God bless United Kingdom 🇬🇧

[@andycole258]

Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself

[@chasemitchell5]

Thank you Teresa Alice Butler $45,000 weekly Profit regardless of how bad it gets on the economy.

[@pauladosch7062]

Have your caller go to Bigger Pockets, the RE investor social network. Fantastic website and people! Focused on education w/out gurus.

[@We_Move_Forward]

Where is the best place to find this data? Rental rates, %of houses being rented in a specific area, etc. Do you guys just use Google/an MLS, or is there another way or specific site you guys use?

[@lucast594]

Why I’m going to sell my for less than the value market, house price goes up Avery month, and you can sell your house in 3-14 days ..

[@Justin-ol6vk]

The first step is to speak with mortgage broker or loan originator to figure out an idea of how much you can actually afford. Then the next step is to find a trusted real estate agent like myself based on personal recommendation or by reviews. When Dave says to see 50 homes, he doesn't mean to ask your realtor to bring you out at all those. A lot of that learning can be done from the comfort of your own home, online. When you are aware of what you're looking to purchase, then speak with your realtor and go from there.

[@lepke1979]

Pretty sure Ramsey would be against financing the rental property.

[@MultiDevan13]

Eyy shoutout from Alpharetta!

[@CashflowKris]

Kind of surprised by the quality of advice here since Dave is usually beating the mutual fund drum. 1. Know your market 2. Make lots of offers 3. Buy with equity. All solid advice 👏🏼👏🏼👏🏼

[@jeremiahologhobo6952]

Buy only cash flowing rental properties with at least 20% down in a growing market with a very diversified economy. Cash flowing means all expenses including CAPEX and maintenance is covered by the monthly rent with enough left to save/invest/spend as you wish.

[@ozymandias7392]

this is what my grandparents did and have paid for their retirement with 8 properties.

[@raymondtongolei6019]

Chris, look at 100 houses to learn the market. Study your backyard. Buy houses with equity and leverage the banks money.

[@blockaderunner]

Appreciate this one. To be quite frank, I don't like a lot of Dave's advice, but his Real Estate advice is pretty in line with mine which is try not to use other people's money like so many 'Advise' you to buying rental properties. Also, the pissing a lot of people off with low-ball I needed to hear. I read RE books to sharpen the axe for when this market is not "hot" as Dave says. The good books the Real books are in line with what Dave's saying. They speak to leveraging to buy as many as possible or within your tolerance of risk. I say like Dave, just use cash, or if you Must must then only take on about 20 grand in debt per house Max. Hard work. It's all hard work, but once set up, do you want to ween yourself off of your current job or not?

[@dereklacaze347]

Paying cash for a rental property rather than going 75% LTV with a good interest rate and letting tenants pay your mortgage insurance and taxes slows down your real estate growth substantially. Easy for Dave to say pay cash when he’s sitting on 200M

[@tetouanitetouan9320]

0:51 It’s not a problem, it’s a ME problem!

[@arturogutierrez3165]

I would recommend to invest in B and C neighborhoods. I invest in the Stone Mountain area

[@AlexGray]

But in those areas aren’t you dealing with bad renters? Stone Mountain has some rough spots.

[@SwagLifeSeries]

No reply..

[@MichaelP-ke1tm]

@@AlexGray Yeah stay away from the ghetto unless you want to deal with guns, drugs, prostitutes and a broken house

[@donnafontaine2799]

Is Stone Mountain in GA?

[@persianboi250]

It’s very unrealistic to buy a property for 70% of retail value . At least in Ontario during the past 10 years

[@kylelougnot3765]

Look at 50 houses over two years. Some good advice. At 70% it needs to be in decent condition paint clean and cosmetic updates. If you are patient enough and work hard enough you can get it 50% off. Patience on the buy makes you the money.

[@ClassicMan33]

Kyle Lougnot Yeah. Let's waste 2 years of your life learning a market. If you cannot do it in 4-6 months, you need to stick to your 9-5 and call it the night.

[@wickedhouston5538]

@@ClassicMan33 mcdonalds?

[@Cod3Thr33]

Dave, you need to make a class like FPU that is nothing but Real Estate Investment 101.

[@joeystephenson9597]

Find someone that is successful in what you want to do and talk to them. It has been my experience that truly successful people are very willing to help someone that is serious about learning. People love to teach. Successful people have abundant confidence, and they will not see you as competition. You will be surprised how fast your network grows when they introduce you to some of their contacts. The key to successful investing is your network. Associate with wealthy people, and you will get wealthy. They will literally drag you up to their level.

[@chrisludwig9783]

Some agents are not worth the conversation. Best talk to someone who is doing it

[@MichaelP-ke1tm]

Most clients are not worth the conversation because they want to invest and don't even know what cap rates are, cash on cash return, classes of properties, cap ex, noi etc. And there is no finding good deals in this market. If I found something that cash flowed over 10% and appreciated, I would buy it myself.

[@connectlancer]

This is exactly what I’m looking

[@sarahcastelli6161]

you are good

[@ChunWong]

nice

[@swifty23]

What’s the best way to learn the market to begin with? Should you be keeping your eye on the markets and what else is there to do that would be a good habit to start now?

[@epicscoreCS2]

Save and invest while saving, learn about houses in general and how to do basic handy work and gardening! Look up how to calculate repair costs and the economic side to it- buy a house localy dont go into big cities see the first house as a learning curve. When it turns a monthly income keep an eye for houses thats undervalued in that area for your secound deal.

[@ericgirard-realtor9813]

Wow, he's right, you have to be savage if you want to invest in real estate the right way. Me? I try to buy real estate areas where people haven't figured out the values will go up. The path of gentrification or so.

[@muaythaiforme]

What do you do with the property while the process of gentrification hasn't started yet?

[@AlexGray]

You rent it

[@user-ke6lo2ev3w]

Doesn't work in most of California. Houses in Bay Area get 40+ offers way over asking and most of them all cash. Know your area and the market. We buy single family homes with a yard, close to good schools, preferably single story 3 or 4 bedroom. It's paid off big time for us. Think "would I want to live here?" Location is key!

[@mochopz]

Stocks and mutual funds scare me a lot more than property

[@russellion31]

Check out Bigger Pockets podcast on youtube. Lots of good info there.

[@RealLifeMoney]

russellion31 I just found out about them which is pretty cool so far 😁

[@russellion31]

The Bigger Pockets website has some good books and book recommendations as well. There is some information that i don't agree with because it falls outside my personal risk tolerance, such as H.E.L.O.C.'s, but as a whole, very useful content. Rich Dad, Poor Dad is a great book for those that haven't read it. Good starting point.

[@danielbrown9813]

First thing i did was cntrl+F "Bigger" to see how many people recommended "bigger pockets" for anyone looking to get into RE. thanks for carrying the torch haha

[@CashflowKris]

Good advice, bigger pockets is a great resource

[@893263007]

They're pretty good, but they're pretty slimy and constantly brag about the houses they own

[@user-jh7by9cc7n]

Good

[@rylanpolkinghorn4031]

is that jet token on your computer? i invested in it cool stuff

[@wadesuhr]

Dave forgot to mention 100% down to the caller. Better save up $150,000 real quick too.

[@Dollsteak69]

Step 1. Save up for your 20% down payment.

[@TapInWithAshton2214]

No....

[@lukedejong7156]

@@TapInWithAshton2214 then what?

[@webfreakz]

@@lukedejong7156 the 100%, not the 20%

[@j.johnson7891]

Exactly. Or go Dave's way and wait until you're 50 and have enough cash. Should be pulling even by the time you're 70! Well on your way!!

[@herbertscott9575]

Read 10+ books on Real Estate Investing. You can go in Barnes and Nobles and read them for free....best way to get started. Agents are only required to read 1 book...their states sales associate manual. You should read that too.

[@cherrytung]

not all agents are "created equal"! I know tons of inexperienced agents trying to learn as they serve clients.

[@aljosabirk4631]

Which books?

[@michaelscarn3238]

Libraries are also free...

[@kbcinmedusn]

I want to build my own house. But I will need to build it on a ranch with cattle so I can get a property tax write off.;)

[@themailman8038]

Can anyone here please recommend some books on how to win in real estate? Thank you.

[@jmoney6652]

I’m an amateur but I like having loans on houses and letting the tenants pay my mortgage

[@MgtowRubicon]

@Austin Butler If you understand real estate financing and the Time Value of Money, then you won't need a down payment or credit.

[@dereklacaze347]

Good luck with that one

[@viperviper5]

That is my plan money. Like Ramsey said you have got to know and understand the market. I live in the Washington DC area and people pay good money to rent.

[@jeffbower4581]

Yeah, real investing can be overwhelming especially when you're new or haven't done your research. Overtime, you learn. I only have 1 property that is a rental property and I was scared at the beginning. But I learned, made mistakes, all of that. I'm looking at a second property. And I'm thinking about if I should get a property manager since it's out of state. Right now, I'm just using a property management app.

[@HughThomasLorch]

Enjoyed the video and content :-)

[@HawkingRegime13]

How did you get started en route to your first rental property with no prior experience?

[@mr.miller3396]

What app are you using?

[@judymckee5992]

Jeff Bower, I bought a house with a huge garage and turned garage into 2 bedroom and 2bath, 1 property tax and 1 insurance but 2 income. Just for info

[@williamshoite3238]

How about giving crowdfunded real estate a try... Much better and easier

[@realestatecashflowideas4188]

Save money for down payment and buy :)

[@stanleyfujiwara1394]

who cares about real estate there's risk there. i have 40% of my portfolio in TSLA, 30% in AAPL, 20% in AMZN and 10% in NASDAQ.. From March I've been able to make $370,000 from an investment of $180,000... While I'm a huge fan of stock picking, I have made a few rather modest investments in individual companies...I use a financial advisor/broker who handles my portfolio. I'll never stop buying TSLA stocks

[@katelynrenesse4798]

good for you, what investing apps do U use and what would u recommend I’m beginning

[@stanleyfujiwara1394]

@@katelynrenesse4798 well so far no investing apps too techy techy for me..i use an F.A from harvard Mrs Koss. Lucy Maria Koss (look her up) goodluck!

[@isidoramartinez6510]

Katelyn Renesse did you get started?

[@katelynrenesse4798]

@@isidoramartinez6510 yes i did

[@isidoramartinez6510]

Katelyn Renesse any recommendations? Suggestions

[@coloredbeach6788]

I would like to obtain a land loan which financial institution do you advise me, please?

[@BenLovro]

Great content! It’s all about knowing your numbers and reverse engineering your goals. Would love to have you share some nuggets on the Podcast Dave! 🏚❌🏠 Give me a shout and we can talk vision.