Відео

I'm glad you found it helpful

Appreciate the kind words and glad you found find value in it

Not sure I understand the question, are you asking where do I get the data from? If so I use a few websites I trust to compile and try to share it in easy to listen to form

@@DaveHathawayYT Exactly, can you share the websites? I’m looking to get in a new market myself

Thanks, they have gotten better over months like sharpening an axe

@@DaveHathawayYT Definitely 👍

Johanna thank you for sharing your expertise on the market. For those looking to invest or move to New Orleans could you leave your contact information here for them to reach out

I'll put it on the shortlist, any city in particular in Minnesota?

I appreciate the kind words, don't know if I believe I deserve 1 million subs but id be happy helping the next generation of real estate investors build generation wealth and passing it forward

I don't love 1031 exchanges as I prefer the lazy 1031. When you use a 1031 it costs money and you don't get the bump up with a new basis. I think they have a purpose but it's a specific purpose in a specific situation. However I have done a couple and have used a company that's been around forever, Realty Exchange Corporation. Hope that helps, would be curious why you would want to do a 1031. I'm not a tax professional but if you sell a property and pay the taxes, taxes are normally taxed at long term capital gains rate which is 15% for most people, not a bad tax bracket to be in 😁

Thank you for those kind words and why I will continue to do these interviews with top professionals

Thanks for the comment. She sells a lot of properties

Thanks for the kind words. Any content in particular you would like to see on the channel?

Appreciate the kind words, any topic in particular you're interested in?

@@DaveHathawayYT yes, how about one on the process of renting with section 8, thank you!

Thank you for the feedback Mike and think Cathy is great. I am always open to it and always have room for improvement. I do add context in interviews as not everyone is from Baltimore or knows local talk so I try to have a balance of trying to add context so out of state audience or people that don't know Cathy aren't alienated. Do you invest locally?

@@DaveHathawayYT yes... I bought a house from Cathy in 21230 last November, fixed it and sold it in April.

@@mikeinbmore glad you had a great experience with her and I'm sure she appreciates your kind words. Thanks again for the feedback and let me know if there is anything I can do to help

@@johnedwardbedoya1745thank you for the comment. It helps when you've worked with the same contractors for multiple projects in a row

That's great to hear, are you out of state or local to Toledo

@@DaveHathawayYT Out of State, I am just hoping Toledo doesn’t have that same lead paint recertification that Cleveland has. I turned down a deal due to that.

I'm not local or have invested in Cincinnati so I wouldn't be able to direct you to the best areas in my eyes. I will start interviewing locals investors in these major markets that have a much better perspective then me over the next 3-5 months. Is there anything else you're looking for in specifically about Cincinnati?

Thank you for the kind words

I agree that it isn't the most expensive place to live, the problem is if the inventory is going up and the amount of properties keep going down it is an issue with supply and demand. there are a lot of apartments coming online this year and start of next year. If population growth is keeping up you'll see the amount of properties being bought stay steady not decline.

yeah that is a flood plain. Why would you look over there?

Thanks for the comment can you be more specific about Parish? Is that an area or a street. I am not local to New Orleans and analyze properties in different markets so a locals perspective is the best

First off thank you for the kind words and the question. I would first say you should use an analyzer to make things more simplistic for yourself so you don't have to write out all the calculations. I have a free one to download in the description of most of our videos or here for your convenience - DOWNLOADS - davehmedia.wixsite.com/davehmedia/forms-download. Down payments are lender specific I usually estimate 20% and usually I suggest when getting into to real estate you should be putting some money down and not trying to borrow everything. This gives you skin in the game. I don't totally understand all how you came up with all the calulations thats not saying they're wrong just not how I would go about it or how I think about it. I often think about the interest rate, the down payment, the rehab, and the purchase price. You adjust those to figure out if the deal cash flows or not and you look at comparable sales to figure out the ARV after repair value to determine if you will have any equity. As far as DSCR lenders they are specific and not your normal banks. I would suggest joing our facebook real estate mastermind group its free and you can meet a couple there that are great. JOIN THE FB GROUP - facebook.com/groups/1realestatemastermind/ Hope that answers the majority of your questions and I wish you and your wife the best of luck investing. Let me know if there is any way else I can help.

@@mommyandmetv8941 thanks for the comment and I'll put it on the shirt list to do

@@edwardjordan3057 thank for the comment Edward

Great question, If I were to go into a new city that I don't already have contractors, I would go over to the local home Depot and Lowe's pro desk early in the morning. Ask them for recommendations as well as observe contractors that come in at 6:00 a.m. as that means they're there cuz they're good at their job and trying to get things done

What about Dallas and Vegas?

Are you wanting Dallas and Vegas as we have done analysis on both of those markets - Dallas- ua-cam.com/video/p20TWoo6cgc/v-deo.html, Vegas - ua-cam.com/video/4YIwo6n2b60/v-deo.html :)

Love the compliment, thank you for that. What would you like to hear about on future episodes?

@@DavidHathaway-z4q oops

We aren't and thanks for the advice. I was in Ryan's studio, he's high speed. We aren't planning on using a green screen in the future.😊

Thanks for sharing do you have some channels that are examples of SEO that you incorporated?

Appreciate the kind words Jacob, hope all is well. Any wise words on the Baltimore market you can share

Thanks for sharing, and congrats on taking action and buying your first rental property

@@bromossunstarranger8706 love that you caught that and it is a great system. I'm not quite ready to share it as that privilege goes to the students that took me up on coaching. However I revealed a few things on it and having a checklist that you go through prior to putting in your offer is a great thing. Check permits, water, tax bill, etc. In addition put links to the sites on the checklist so you don't have to search for them, you just click the link and type in the address. Hope those hints help you build one out

@@bromossunstarranger8706 thank you for the compliment and yes I can interview a tax strategist and how to best set up taxes

@DaveHathawayYT thank you. I am looking forward to watching and learning

Thanks Tom for the kind words!

Ibrahim glad it was insightful, thank you for the kind words as always! How has your analyzing been going and have you finished the reno on the duplex in Hampton Roads?

@@DaveHathawayYT Hey Dave the analysis has been great, ive got my criteria set up and truly a lot of properties there that seem to fit it. Also Im mostly done with the Reno over here so I’ve been on cruise control in the meantime, just setting aside more money towards the next purchase 👍 Im still referring to the advice you gave me and expanding my connections down in Charlotte. I know of a couple of lenders/Realtors who’ve been great in keeping me updated on what’s going on there.

@@ibrahimtoure1419 love that and great to hear

@@Saucebossconstruction are you taking about Shaun Magners

@@DaveHathawayYT Yes

I own a property and I would like to scale up.

@@Saucebossconstruction instagram.com/shaunmagner/

@@Saucebossconstruction what specific questions did you have that we can help with?

@@Yellowpuma01 thanks for sharing, is there anything in regards to real estate investing that we can speak about our do a video on?

@@kmarshie Kim thanks for sharing, I'm sure he'll appreciate those kind words

@@jamzempire thank you for the kind words, anything in particular you want to learn about within real estate investing?

Thanks for the comment. In my opinion, all real estate is localized by town/city/or county so areas where building permits are excessively over the normal by 20-30%+ will be affected as buying has slowed down in a large portion of the US as consumers are tightening spending from inflation. I think the term reversion to mean applies to a lot of markets that went on building spree's. I am also seeing through some stats that spending on vacation/wedding which I believe is descreationary spending is coming down ie vacation home/second homes/STR is coming down. I think markets that are heavy STR rentals and built specifically for STR are going to come down 20+%. Hopefully that answers the questions. I have a lot of thoughts, lol

Good question, I'm listing it for $397K and it could rent for the upper $2,200's. It won't cash flow at these ratios and is a retail sale to homeowners

I purchased this property bask in 2013 for $144K it has served as an amazing rental for 11 years

Thats a great appreciation rate in only 11 years! Do you think townhouses have any major disadvantages over single family homes in rental business?

JP thank you for providing thoughtful criticism of the video and I agree that you need to be cautious and make sure you're following fair housing laws and not screening not discriminating. I think the treat people as you would like to be treated here applies. Again thank you for the added context and for sharing your experience

@@DaveHathawayYT glad you found it helpful. One more thing, at the end of the video, you said something to the effect of “if you don’t have a good feeling about someone, trust your gut “. Again, that is a HUGE NO NO! Just imagine this scenario…. A guy applies for an apartment (at one of those apartment communities which I’ve worked at). We process his application, he makes the required income, he passes the credit criteria and landlord verification, has no criminal history, etc. I then let him know that we’ve declined his application. The applicant then calls my corporate office to ask why. After my supervisor looks over the application, He/She sees that the applicant meets all the screening criteria… My supervisor then asks me why I declined the application. I tell him/her that I just “had a bad feeling” about this applicant. I’m gonna keep this Rated PG 13 , so I wouldn’t even begin to tell you what they’d do to me 😟. When you access applications, you need to “take your personal feelings completely out of the equation”. Studies have shown that we “connect” with individuals who are ‘more like ourselves” . That said, you gotta be careful about using any “subjective” means when evaluating an applicant. The approval process needs to be “objective” and “measurable” … for instance- you can “measure” 3x the rent, you can’t measure personal feelings about someone. Again, I hope you check out my website, and my contact info is on there if you’d ever want to connect and I can further help. Best of luck!

@@JPPropertyConsultingLLC I see how you spun that. I agree that should be objective and measurable however I do think if you have a bad feeling about someone I would encourage you to do more research and relook at the tenants application. I would advise against on completely ignoring your instinct. It has helped me many times in dealing with people. Again thank you for your feedback and pointing out the big, big, big, no, nos

@@DaveHathawayYT Well , I agree that your instincts are probably correct when you have that bad feeling about someone. That said, if you haven’t located something thus far in the application screening process to decline the application, it’s probably because you haven’t thoroughly processed this app the way we train our staff to do so at the large management side of the business. That said , the way to combat that is to ensure that you have an extensive and thorough screening process, and that this process is to be done the SAME way with each and every applicant-including Grandma Ethel, because if ever someone was to accuse you of implementing tougher procedures on someone because of who they are, you will be asked to prove that you do this same procedure with EVERYONE. That means the HUD agent who’s investigating you will now look at previous applicants files and current residents files to be sure you are doing so. Thus, it’s why in my courses, I teach landlords to do the entire application screening process IN WRITING…. Meaning don’t just “call” the employer or landlord. Instead, have a form that you use to send to the landlord to answer questions. This also ensures that your asking the SAME questions for every applicant and not “digging any further “ into some applicants more than others. In addition, I teach landlords to use additional methods of processing applications such as - contact the city assessor and verify ownership of each address on their application plus all the addresses that come up on the credit report .. use the credit report to check allies and run reports on those names as well. These are just some of the procedures that we do at the larger scale side of the industry. If you use tactics such as these, and others that I teach in my class, you will more likely be able to discover the bad apples and be able to decline the application for legal purposes instead of using your gut instinct which can lead to trouble in the future. So to sum it up and to circle back to your comment where you say that if you have a bad feeling about someone to the “do more research”…. You don’t want to be “doing more research” for that suspicious looking guy than you would for “grandma Ethel”. This is how you, and frankly a lot of other small landlords, will get yourself into trouble. It’s amazing how many things the small landlords do that would NEVER be tolerated at the large scale national companies. …. And that’s not because those big national companies don’t know what they’re doing, and the small landlords do… unfortunately, it’s actually quite the opposite.

@@AngelRodriguez-y3l Also I adjust it and it has gone up from a year ago. When I first switched insurance companies they saved me like $300-400 per unit which added up to a lot per year so worth shopping insurance companies

@@AngelRodriguez-y3l Angel, absolutely! I'll send you an email intro. The insurance agent I use. Just send me an email @ davehmedia@gmail.com

I look for properties that will most likely cash flow. I don't think many of the properties in the French Quarter or downtown cash flow well. I would say be careful and make sure you know insurance rates as I believe they are a bit crazy in New Orleans as they should be with all of the weather impacts

@@DaveHathawayYT Thanks for getting back to me, I appreciate the additional information. I'm definitely taking insurance into account, thanks to the HPM Analyzer! I just have a couple of questions about a couple of the terms, "% of AC" and 'VR%"? Thanks, love your channel so far!

@@Stephyakir87 VR% is vacancy rate and you can adjust in depending on where you're investing, think better areas lower vacancy rate worse areas higher vacancy rate. The analyzer accounts for 10%, AC is Aquisition cost % think closing costs bank fees - this is set at 5% which is normal but you can adjust it if needed. Hope that helps. Thanks for the kind words and let us know how we can help!

@@402zaton402SR thank you for the kind words

We have to fast on shorts so often we can't mention everything even know its included in out analyzer. You can download it if you click on the link in the description of any of our videos. Also if you want a long video that breaks all of the expenses down check out this playlist where we walk you through the entire property and all the expenses from buy to reno to lease out studio.ua-cam.com/users/playlistPLEYyVekdCZWFYceVqCOJgujAPzM_L6ZPF/edit

This is a great question and it depends most property managers rates are negotiable. Often if you have a property not in a war zone PM's will negotiate to 8% especially if you are sophisticated and let them know you will be purchasing more. 2 off the top of my head are Pay Your Rent Property Management, owner Millie let her know Dave sent you and PE Property Management owner Ryan, let him know Dave sent you

Thanks for the comment and kind words Kim!