Which Rental Property Should You Buy First? | Real Estate Investing

[@ChandlerDavidSmith]

What are you going to buy first?

[@henrycollins2478]

My budget is $500, so a box Edit: 5 boxes

[@Brandon_S_]

Henry Collins you can make a dolls mansion with those boxes 😹😹

[@Brandon_S_]

Chandler Do you have partners ?

[@mirandasi8302]

A porsche

[@ryanandersonn]

Buying a duplex with my wife next month to house hack!🙌

[@easymoney4030]

Duplex first! Live in it, flip it. Rinse and repeat! Great video!

[@mydailyburger3924]

The smile that you have while talking is very encouraging to see! You're very inspiring!

[@TroyKearns]

Great Video Chandler I would love to do an interview with you! Good luck on your new house I am building mine to!

[@daryabak3241]

Cash on cash return happens monthly or annually?

[@floydchusset3143]

Greetings from Houston , i have been able to build a good income by trading during the Pandemic till date with the Help of an expert advisor i met in a Tesla conference where Elon was present

[@adamweah8037]

Who is this advisor ?

[@sandrawilson1966]

@@ashwinaditi1039 Yes they do actually , I am a Nurse I started using a financial advisor last year, my total portfolio then was worth around $48K and is now currently over $110k with the latest Tesla bull and other trading assets

[@floydchusset3143]

@@adamweah8037 Helen Howard Pratea is the advisor who mentors me you can get in touch with her and book an appointment with her from her website, by looking her full name up on the web .

[@davidchinnelson4402]

Investment is the way forward and the way up.

[@davidchinnelson4402]

Till this moment, human beings fail to understand the actual difference between the rich and the poor.

[@davidchinnelson4402]

The rich invest while the poor save. An investment made today will definitely be a life changing one in the nearest future.

[@jonsewolf8548]

Hey Vanessa, you're right. The best idea about money is; make it, invest most of it and manage whatever remains, expecting huge returns in the nearest future.

[@benedictstefan6559]

I agree with you guys, investment is the best idea. But I don't think that investing in real estate is nice idea, investing in Bitcoin should be a better option

[@danielclinton4681]

Hi Gabriela, why do say so?

[@FasterFreedom]

What you invest in should depend on what your end goals are!

[@ChandlerDavidSmith]

True!

[@GregActonCPA]

My first property was one with a studio apartment in a separate building on the property. Turned it in to an Airbnb and it has done amazing!

[@876Millz]

I was thinking about getting a condo 2 bd 1 bath and do the same.

[@GregActonCPA]

@@876Millz That's awesome! I would suggest it if you have the ability and the rental demand. It has been such a blessing in my life to have the Airbnb to start investing in real estate. Let me know if you have any questions on starting an Airbnb, I'd be happy to help!

[@RobinTaylorMusic]

Another option if you can't live in the property and want to put as low as 5% you can do the Fannie Mae Family Opportunity Mortgage and buy a duplex for an elderly parent and it would be considered 'owner occupied.' Would love to see you do a video on this example as this is something I'm considering.

[@paolokoch1123]

I have always been fascinated by investing, but without adequate knowledge on the right thing to do, I find it difficult to start. *I politely ask, what’s the best sector to invest in?*

[@miacordelia6367]

It is entirely possible for a smart and patient investor to go into investing with the right information. One of the best ways to get started is to get help from an experienced Financial Consultant . I've been investing since *2015* and I'm extremely happy with the returns I get working with my investment advisor; * Hamilton Phoebe Zoe*

[@paolokoch1123]

@@miacordelia6367 I am very interested in this information and I've some money sitting idly in the bank with that I can start investing without further delaying, If you don't mind How can I get in touch with your professional?

[@miacordelia6367]

@@paolokoch1123 As to get more details about my Investment Professional; *Hamilton Phoebe Zoe* easily do quick internet research where you can easily write her from, do your research with her full names mentioned.

[@paolokoch1123]

I'm delighted to engage in this opportunity, I just found the professional's web page and have already written to her 👍

[@sophiamichael9783]

I'm glad I stumbled upon this. My wife and I works with Phoebe. Before now, we spent more and saved less. Phoebe changed that mindset and gave us a way to generate money investing in the financial market. Working with Phoebe, opened our eyes to a lot of investment opportunities, which in turn, helped us become less dependent of our earned income.

[@GrassMonkeyLLC]

chandler you are the man !! i love your videos, i am selling two mobile homes next week and they are using me as the bank so i am getting 25k down and 1150 a month for 10yrs plus i have a landscape business, no wife and my kids are grown so its just me and my dog and i am now looking for 4 plex or less so i can house hack for the next few years.. keep up the videos man i absolutly think your awesome !!!!

[@ChandlerDavidSmith]

You’re killing it! Thanks!

[@Deanmichaelpuma356gmailcom]

I’m not gonna lie trading with Mr Michael Puma have really help me a lot. with his strategy and predictions are so accurate that I made $50k on my previous trades, Reach him for help on the email above my comments, I recommend him for newbies and for anyone seeking for help in trading.

[@rhythmoffear6171]

Thank you. Love you

[@vascogamero530]

You’re doing Gods work Chandler

[@crileymane]

Just bought my first single family. 35% under market(off market deal through a connection I built) . 25% down. Great area. Currently a tenant is in there, out in a month or two plan on putting 12-14k into it expecting to find other things thatll bump it to 18-20k which is fine. Then will move in and should be ready for another 25% down on the next one, next year! Love the channel, app rocks too.

[@ChandlerDavidSmith]

Yes!!

[@Deanmichaelpuma356gmailcom]

I’m not gonna lie trading with Mr Michael Puma have really help me a lot. with his strategy and predictions are so accurate that I made $50k on my previous trades, Reach him for help on the email above my comments, I recommend him for newbies and for anyone seeking for help in trading.

[@karmasutra4774]

How did it go?

[@crileymane]

@@karmasutra4774 Good I ended up spending 38k on the remodel. With total purchase price and remodels and what it is worth today im up 140k. Market softens and drops 25% ill be up 100k. Looking for a bigger home if a deal arises. Did a cash out refi have 18k left invested in the house of my own money. 3% rate. When we get our next house we will be making 30-35% cash on cash for cash flow + equity paydown when it’s rented. Thanks for replying was nice to look back and reflect!

[@totallynotme8401]

@@crileymane Hello, have you put any % down on a new property?

[@exit9radiooffical]

what loan do you use potooerty investment or fha

[@jakubadamowicz]

Great idea is to contact a local realtor that has experience with homes in the area you want to invest in. Have them give you their feedback, we will do it for FREE! Great video for those trying to get into real estate.

[@ChandlerDavidSmith]

Great advice!

[@mansardmanor3869]

*Wait not such a great advice* Look for agents that work with only investor and know their needs. Ask them: what is a 1034? & How do I use it.

[@lisalisa1007]

you are so gifted!!!!

[@alexlarsen1392]

I look for mixed use when I can find a good deal retail or offices down below while I live above.

[@marlonc1000]

Came from thestradmans channel, stuck around for the real estate advice. Keep it up bro

[@ChandlerDavidSmith]

Awesome! Thanks!

[@BriPri-89]

Thank you for sharing ❤️

[@4udesiboy]

I watched lots of real estate videos but your videos to the point and so clearly explained. I love your videos. Thank you so much

[@ChandlerDavidSmith]

Thanks so much!

[@I_Supply_Loud]

Been a subscriber since 5k, it’s awesome to see you grow man! Great vid!

[@ChandlerDavidSmith]

Thank so much!! Means a ton!

[@SteelTimeify]

What about a suplex?

[@JoshuaBaldovino]

How can we use equity in a house to get a business line of credit?

[@jakobh6257]

Always great info. Thanks Chandler 👊👊

[@ChandlerDavidSmith]

Thank you!

[@marianarico2407]

This is one of your best videos. Right on time for me. Thank you!! Love your channel

[@ChandlerDavidSmith]

Thanks so much! Good luck!

[@jeansttil2110]

I have 100 thousands in my portfolio and over 50 grand in my saving can I start with a quadrudlex with Uber and Lyft as income?

[@floydchusset3143]

Greetings from Houston , i have been able to build a good income by trading during the Pandemic till date with the Help of an expert advisor i met in a Tesla conference where Elon was present

[@adamweah8037]

Who is this advisor ?

[@sandrawilson1966]

@@ashwinaditi1039 Yes they do actually , I am a Nurse I started using a financial advisor last year, my total portfolio then was worth around $48K and is now currently over $110k with the latest Tesla bull and other trading assets

[@floydchusset3143]

@@adamweah8037 Helen Howard Pratea is the advisor who mentors me you can get in touch with her and book an appointment with her from her website, by looking her full name up on the web .

[@JoshuaaColin]

Ok so let's say I apply for the first time buyer loan which would give me about 3.5% as down payment. Do I HAVE to live at the property? Or can I just say for example if I still live at my parents house and plan on still being there and just said on the application or where ever that I was going to move in the property just to take advantage of the 3.5% but I end up just renting it out of tenant's and continue to live with my parent's will that work? And also for that application for the loan, Do I need the 2 year work history because I don't have that.

[@holasoyalejandro9822]

and i’m also a real estate agent, so i can also always put in my comission as part of the down payment, so i’d only need half a percent extra

[@PORTMIAMIMIKE]

What do you do, when you buy a 4-plex on fha but all 4 units are occupied?

[@hyperdukes7860]

I currently live in a 2br 1 bath duplex out in the county 3 miles from town I love where I live only thing is I'm paying someone else's mortgage I've been tossing around the idea of buying the duplex but I don't exactly know where to start

[@ritahogikyan8560]

Your videos are great 👍👍👍

[@jeremyparvinrealestateinve7087]

Love your video chandler

[@Rootscogoogleads]

Can you do a walk through (or if you have and I haven't found it yet please link it) do a run down on how to start investing in Apartments. How to find off market complexes, what size would you start with, what are things that are deal breakers? And I LOVE your here is the numbers video. How to find the right number so that with reno and raising rent you cashflow out of the gate, etc

[@TheBurtle005]

Can you please do a video discussing debt to income with real estate, as in being able to get loans etc...?? Thanks.

[@stanmoney8470]

What about a cheaper condo or townhome as your first investment?

[@-Silly-Willy-0]

Solid advice once again. Chandler will be next hot channel.

[@ChandlerDavidSmith]

Thanks! I appreciate it!

[@zakariyanagi6465]

Can you make a video about why you don’t invest in commercial properties

[@henrycollins2478]

I think it’s mostly because of the way loans are set up, but he does have stake in a law firm building

[@harryhunter7872]

It is completely different from residential property. If you find the right tenants you could be set for life but they will sit empty for years costing you lots of money in costs. Do research before doing commercial property as I know several guys in that arena and half are losing their asses and can’t even sell their properties

[@chandleradaway]

Bro you asked this to him on his last few videos and he responded that he has some videos on that already and that he would think about making another 😂

[@jasonnelson5251]

Did you see the vid he did at a vacant mall in Houston? 😢

[@melodyn6419]

How and where to find private money lender that would like to be on 2nd position of your mortgage? No friend family to borrow from.

[@reynoldscf95]

I recently purchased my first home and have been trying to figure out how to purchase an investment property... your advice to purchase another one in a year IS SO TIMELY. I am looking for roommates now, but can purchase again in a year and do it over and over and over again. THANK YOU FOR THE IDEA.

[@Deanmichaelpuma356gmailcom]

I’m not gonna lie trading with Mr Michael Puma have really help me a lot. with his strategy and predictions are so accurate that I made $50k on my previous trades, Reach him for help on the email above my comments, I recommend him for newbies and for anyone seeking for help in trading.

[@deadcell1]

I would have purchased a duplex, live on one side while renting out the other to pay my mortgage. After a while of saving, I would have purchased my first home and let the income from the duplex pay my mortgage on my home.

[@reynoldscf95]

@@deadcell1 what if your market/location doesn't have many multifamily homes? that was definitely my first and ideal option, but sometimes you're not dealt the hand you want.

[@deadcell1]

@@reynoldscf95 There aren't very many multifamily homes in my location either, that's why we are considering purchasing land and building a fourplex. I want to wait until 2023 so that way I can offset my tax liabilities from the sell of my stock and crypto assets from the land acquisition and construction cost.

[@michaelmencer331]

Do you have a reading list that your recommend?

[@jacobvashchenko7687]

I think another important thing to keep in mind… especially since I’m using your calculator now… LOOK AT THE TENANCY AGREEMENT IF THE PROPERTY IS CURRENTLY OCCUPIED BY RENTERS. Adjust your numbers to what’s written down. I nearly got locked into what seemed to make sense on paper but when I looked at the contract that I would assume as the owner/landlord, I realized I was paying 100% electrical for 2 units for the next year. And those tenants were using electricity like an ATM machine. Don’t assume a poor contract. Read EVERYTHING!

[@DavidDelahunty]

Love your video's Chandler, been following you since you only had a few thousand subs! In my opinion one of the best youtube channels for real estate investing! Thanks for sharing your knowledge and experience.

[@ChandlerDavidSmith]

That mean a lot, man! Thank you!

[@breannatillis3169]

What about Airbnb. How do u start with that.

[@oliviahampton21]

Very informative!! Thank you🙂

[@skinnyguygains2459]

sick intro music!! great video too thx!!

[@atidmatabenisrael2779]

What type of loan should I get for a first time home buyer

[@AngeM-e2m]

do you have tips on how to handle tenants that aren't paying or making a lot of disturbances

[@ReallRemnant]

Fine I’ll subscribe 😂😁 I’m going to jump on the investing train and your videos have pointed me in the right direction. Appreciate the tips.

[@reagandekock1811]

Love your vids. Officially my favorite financial channel.

[@ChandlerDavidSmith]

I appreciate that, thank you!

[@harohalli]

how do i start in a 4 plex right now and which market is best for real estate?

[@GrowYourWealth101]

Hi Chandler. I am currently checking what property i should buy. So your video came to a perfect time. Thanks for that. :) Cheers Jannis

[@ChandlerDavidSmith]

So glad I could help! Congrats!

[@GrowYourWealth101]

@@ChandlerDavidSmith :)

[@Von_RX]

thanks kind sir

[@Royal_Roots-be3gs]

What is the best website to search for properties?

[@damianguzman391]

How did you learn how to renovate a home? For example, redoing a kitchen, and deciding which appliances to purchase for replacement.

[@ChandlerDavidSmith]

I grew up around renovations - my parents are really good at it. My property manager is also extremely handy and skilled in doing those things on his own

[@kathydemetillo300]

This is very helpful. We are in planning stage in acquiring our 3rd rental property. We bought 2 condo rental in cash. It generates cash flow now because we paid cash. But I want to start looking in a cash flowing properties

[@ChandlerDavidSmith]

So awesome!

[@foremanswildliferemoval6170]

The only downside of leveraging is if something big happens your screwed. Everyone says it won’t happen to them. In my town a factory got busted for releasing toxic gas in a neighborhood for years. The neighborhood instantly had people moving out. It’s now a undesirable area. If your rental was there you would be in trouble depending on % of your portfolio. A lot of investors lost big time in 08 due to leveraging. If you own it outright no one can take it from you :). I do enjoy your videos chandler. I just wanted to throw another angle on it

[@georgia7043]

Where is the place to find duplexes, tri, and or fourplexes??? Zillow? Redfin?

[@ttnts5]

I have been living in a 2 bedroom rented apt in Ny & the rent is $ 2800 monthly. So now I am planning to buy a 4 bedroom single family home in Newjersey. So how much of a down payment is good for a house costing about $ 450,000. Be a I don’t have much down payment.

[@dominicbothur7574]

20 percent is usually the recommended down payment. So that would be $90,000 but if you don’t have 20 percent there’s private mortgage insurance which usually isn’t too much money.

[@brandotex]

Great video, that was my question as a beginner

[@ChandlerDavidSmith]

I’m glad I could help!

[@thegoremachine4258]

Is there anyway I can use a family member to co-sign and get 3.5% down?

[@MysteryBop]

What else do you tell the realtor when you are interested in that 4-plex? "If it fits your numbers", yes. But in terms of numbers do you give them only CoC return? Or also a purchase price range or additional numbers.

[@ChandlerDavidSmith]

I give them my spreadsheet and show them the desired coc return I want with a 25% down payment. At that point I’m willing to look at anything they give me that meets those requirements and narrow it down from there

[@MysteryBop]

@@ChandlerDavidSmith Ah makes sense. So basically they can input all of the details such as purchase price, market rents, insurance, taxes etc. for you and then you can just review your own filled out spreadsheet when they come calling. Super smart Chandler, thanks for clearing that up!

[@ShawnDeLaCruz]

15% cash on cash return on 25% down doesn't exist in Southern California. Should that be a deal breaker on investing in real estate here?

[@JeanDagobert]

Looking to buy my first duplex/ triplex if the numbers make sense.

[@ChandlerDavidSmith]

Sweet! Congrats!

[@rentospropertymanagementso4895]

A very helpful explanation of returns. Thank you.

[@ianscianablo8507]

Chandler how many rooms, bathrooms etc is in a "plex"? Is a "Plex" a unit? I don't even know what the inside to a 4 plex looks like. Would a 4 plex have 4 outside meters? Thank you!

[@juantaverasiv741]

Great vid. I live in the Bay Area, where property is STUPID expensive and duplexes are rare, and even a single-family home is nearly impossible with my budget. Would it make sense to get a 2-bed condo for$500K-$700K? Then I could live in one room and rent out the other. I would have to share the space with my tenant, which may be annoying, but the numbers make sense to me. Any thoughts on Bay Area real estate?

[@avivakende1412]

how would you look for your first aquisition?? what city??

[@edessentials3206]

Just subscribed. Good stuff, keep it coming.

[@Daniel_BDB]

What if you buy a single family like a 3 bedroom or 4 and rent out the extra rooms while you live in it. You're still living in the house but just renting out the rooms. Rent then it for 500 or 600 and that will pay for the mortgage

[@joshrachelson7206]

Chandler. Have you ever considered purchasing a motel and making it into long term rentals?

[@ChandlerDavidSmith]

Not specifically, but that’s a good thought!

[@joshrachelson7206]

I'm sure you know this. The price per unit is really cheap and tempting. I'm considering one however, the size of the units is a little worrisome. What are your thoughts on studio units?

[@mattcram3782]

@@joshrachelson7206 I'd tear down some walls and make as 2 bedroom units as you could squeeze in.

[@OopsFailedArt]

@@joshrachelson7206 for long term tenants you're going to really struggle with only studios. This would lead to potentially high vacancy rates and high turnover which are very expensive. Having a few as studios might work but in my experience you'll want at least some variety. I do like having a few studios as it really helps round out my offerings

[@robinthestate6548]

@@mattcram3782 that's a smart idea

[@bryanharger6565]

Another great video. The question, would you ever buy a new build for a rental property with barely any monthly cash flow. Just looking at equity building?

[@Deanmichaelpuma356gmailcom]

I’m not gonna lie trading with Mr Michael Puma have really help me a lot. with his strategy and predictions are so accurate that I made $50k on my previous trades, Reach him for help on the email above my comments, I recommend him for newbies and for anyone seeking for help in trading.

[@HALFAMAZINGTV]

Appreciate the video, brother! Helped with plenty of perspective.

[@ChandlerDavidSmith]

Awesome! Glad you liked it!

[@xx-knight-xx2119]

what about pmi if you're doing less than 20% down?

[@XxDrEvilxX]

Your rental property calculator is amazing and brought me to your channel. May I recommend a save option for future reference or editing.

[@harjitsandhu7162]

Really like this Channel, keep it coming !!!

[@mikeccali84]

how do you feel about flipping houses to raise capitol for investing in rental properties?

[@michaelfitzpatrick3377]

rental property podcast??

[@mkfremkglmfekwgnkr1727]

Always Huge Energy at the Start :-)

[@ChandlerDavidSmith]

Thanks 👍

[@hustlindaddiy5194]

This is a great video. Chandler is great at breaking down involved information in a simple way.

[@ChandlerDavidSmith]

I’m so glad you liked it!

[@marcoballinas8793]

What if you already have a mortgage a primary residence how can you “live in one of these rental properties”

[@itsmosdef2136]

I wish I could talk to you about what I’m considering… I think the deal is good but Im just now learning about real estate.

[@scrappychildhood6633]

Can you Turn Duplex into quadplex and so forth?

[@CaseyBurnsInvesting]

Tools of Titans is taunting me on your bookshelf. One day. Tribe of Mentors as well.

[@ChandlerDavidSmith]

Awesome books. Recommend them both!

[@kylegrimm]

Both of them are awesome!

[@Unknown-yc3nc]

I was thinking the same thing, I just finished Never split the difference by Chris Voss, Great book in my opinion.

[@_Tra_B]

Just bought my first property in hawaii, Idk if I should buy another one here or wait.

[@Rootscogoogleads]

Also more on "how to" turn seller into seller finance. How do those conversations go? etc. (Ideally Apartment complexes)

[@lorenceman]

Love the hyper focus strategy tip 💰💰💰

[@ChandlerDavidSmith]

👍👍👍

[@125henni]

I have quite a bit of cash saved. SInce my area doesn't have multiplexes I plan on getting a small affordable house 1st, then buy a condo that I can hopefully finance for $40k. Not many people do that, but my realtor has 2 of them in the same place I want to get one at and it cash flows like crazy.

[@eliberatorr]

I downloaded the excel speadsheet used in many of the videos. The spreadsheet is full of errors, inflating the numbers. For example: Property taxes paid is added as a income and not as expense. Please fix.

[@williamkim599]

Hey Chandler! Could you make a video on estimating costs to make rent ready? I'm having trouble figuring out how to correctly estimate repairs in some of the properties I'm looking at. Great content as always, thank you so much!!

[@charlesg7926]

Become a remodeling contractor! Then you’ll know. Otherwise, you should be smart and stick to ready-made homes with no issues

[@SneakerHead302]

24 yrs old and currently only have $25,000 to put down but I’m great at saving money wanted to move out but I want to buy a house to rent out and buy my personal later on in a couple years. If possible I’m trying to get a house each year even if it’s small. Currently in LLC with some friends flipping houses currently but I want to do my own thing as well on the side. Should I look at a single family to rent out ? Duplex I was thinking as well from your previous video and how much should I put down I’m stuck. And do you have a email for consultations I need some help haha love the videos keep them going

[@ChandlerDavidSmith]

I’d love to help! Go to my website to schedule a mentoring call

[@jakubadamowicz]

Id call a realtor, different markets are doing different things. If you need help getting referred to a good agent let me know (FREE)

[@mansardmanor3869]

First off 25K down finance the rest 🤔 Know that your loan will require you to be a live in owner. If banks know your an investor, your down payment goes up, your PMI goes up. Try looking at a 2-4 Plex still falls in a Fanny May loan. Just make sure you know how to professionally manager them. His statement is sound, except for the low down to leverage the property. Many have lost everything leveraging, Google Carlton Sheets and the many who was over leveraged.

[@floyds3071]

Dude, you are awesome. Very informative and good content.

[@lostkids9790]

What if you have a VA loan?

[@ibirextft]

Doesn't lower down-payment mean higher mortgage payments?

[@oshitomaha]

Yes. He doesn’t care because he can afford to pay those monthlys. He also doesn’t explain that you need a decent job and not be in so much debt.

[@zachlenagh2801]

What r your thoughts on this situation? Moved in and bought my first house house and flipped and left it with 100k. Used that 100k to put 20% down and for renovation costs to move in to and owner occupied duplex for 325k. Now live in it finished the renovations and renting out both sides will give me a total $1250 cash flow. Or could stay in one side and live for almost free. What's the best way to get money for another duplex. Currently my rate is 3.25 on it but I have 65k in for the down payment that I'd like to use without losing a great interest rate 🤔

[@est94]

I bought a condo underpriced that I will live in at first . It was impossible to find a multi family at a reasonable price in my area

[@ChandlerDavidSmith]

The deal will come!

[@shantimindproductions5585]

Ditto, but I'm not sure what to do next...rent this one out, after buying another condo to move into? Don't want to get stuck.

[@steveghs1]

I am about to sell mine soon. San Diego I found a awesome deal on a duplex but it’s in Kansas

[@henrycollins2478]

So this will be far in the future but when you house is done being built, can you post a video of a game in the basketball court

[@ChandlerDavidSmith]

Yes! 🤑😍

[@petebeat1510]

Liked and subbed! Cheers mate

[@searchbug]

For sure there are a lot of viewers here who are eyeing to buy their first rental property soon! Congratulations, guys. Just wanna give a futuristic advise. Once you are ready to rent out your property, make sure to conduct a thorough tenant screening. You wouldn't want to rent your hard earned property to someone who cannot pay the bill, to someone who has criminal records, and a total pain in the a** as a tenant. Save yourself and your other tenants from stress.

[@nickzelner]

Good video

[@petergriffin3127]

Boom. Great video