Відео

Welcome! Good way to learn is to dive in!

Thanks for dropping by and checking out our show!

Facebook Marketplace is a good platform for rentals for sure.

Yeah. Sound is horrible. Didn't bring proper equipment with. I will delete this video.

@@CraigKammanMN That's called the learning curve. Don't delete it. Just learn from it. People wearing ear pods or headphones may very well hear it much better than I did.

@@CraigKammanMN I can hear you just fine, dont delete this video, your message is spot on.

True. I wasn't there to see real Mexico. Just a couple days of R&R.

Any bigger it wouldn't have gone in, any smaller it would have gone all the way through. If I had run an auger down I might have been able to bust that disco ball apart. But I already had the cement floor open from replacing a section of drain that had been plugged and unable to auger open, so I decided to pull it all out and replace the rest of the drain pipe and trap. About $150 in PVC and 1.5 days of labor.

When it is the whole house I spray for speed. When it is a room or two, I roll for speed.

@@CraigKammanMN Thanks!

@Letsplay222 exactly. Then a film builds up on the drain field that prevents the water from soaking into the ground. Just plugs up the whole system. Systems are designed by number of bedrooms, ie 3br house is sized for 6 people. Average person uses 50gal per day.

The septic system was original to the home, so 1960. The tenants moved another family in with them and with eviction rules in my state it was easier to ride out the term of the lease than evict them. In the meantime I was stuck watching the damage unfold.

Thank you! That was fun

@WealthwithRentals poison ivy is allergic reaction.tthe oil has to soak into your skin to fet the rash. If you wash right away it won't get you. I keep lawnmowers, atvs, boat motors etc. Delivered. i paid around $2500. They range from 1800 to 3500 depending on condition and delivery.

@@CraigKammanMN Good to know! Now your stuff have a place to go

Seriously, not a bad a retirement gig.

Ruffed. I like pheasant too, but it is a long drive to find good pheasant hunting for me.

They range from $1800 to $2500 depending on condition and delivery. Search FB marketplace or craigslist.

@M00NKYMAN3R "Just Do It" nike 1980s. Don't be afraid to start a project and figure it out.

I am on the Libertarian side of things. Although I agree with business being able to make decisions based on their own criteria, redlining is not a good practice. Geographic criteria vs who is able to repay the loan. If redlining were in place today, there would be no areas being revitalized because there would be no capital to invest.

@@CraigKammanMN Government can subsidize the poor, lower class and newly immigrated to move into our neighborhoods (Mt. Laurel Doctrine too). We should be able to protect ourselves from the crime and falling home prices.

Interesting perspective.

Why fo Americans deserve that?

@alexe8059 good point. Do you think the average person even understands Private Property?

Yeah! a concept of real liberty is being largely forgotten sadly. I think she ironically accidentally brought up a good point about too much democracy. What you want to do with "your property" should be shielded from popular opinion as much as reasonably possible. Sure wouldnt be an afordability issue long if each and every one of us "selfish capitalist pig" landowners were in a race to entice tenants to live in the backyard hut.

"Buy land, they're not making it anymore." Mark Twain. Trues then, true today.

"A Republic if you can keep it" actual democracy would actually be mob rule. The closer the representatives are to the people, the more they will be accountable.

Thanks

We are in what feels like a buyers market now, if rates drop I think it will go back to sellers market. This winter is a good time to try to buy.

Community bank is one option, contract for deed, or a combination of both. I will do a video on this topic, it gets complicated fast so difficult to answer by comment

@@yourgooglemeister6745 my pleasure. Haha

That is what happened during the GFC when home prices crashed. Banks stopped lending money (not entirely but very significantly) So to say if there were no more mortgages, home prices would drop is accurate.

Housing Affordability is bad today. Median Income is 105% of what it takes to buy a median home. It was worse in 1980, Median income was 72.62% of what was required to buy a median home. Rates were 13.98% in 1980.

1980 the median house payment was 34.4% of median monthly income. 2022 it was only 22.2% of median monthly income. I don't have the 2023 or 2024 stats yet. The kicker is inflation. Both early 80s and today are high interest rates to slow inflation which crushes housing affordability. sucks.

$12,000 in 1980 at 13.98% 30 years with 5% down P&I was $528. Monthly Gross Income was $1754.92. Today, 145,000 30 year 5% down P&I would be $1326. Monthly gross income $7,873.83 (2022 figure, probably not much different today, I don't think wages have gone up much.)

The real lesson is, real estate is shorting the US Dollar. OR rephrased; A hedge against inflation.

Awesome, thank you!

You are in a great position. Without debt (credit card/car loan) you are probably conservatively qualify for around 275k - 285k using 30k down.

With that Credit and Income (assuming it is W2 income?), go with a 20% down Conventional 30 year fixed rate mortgage. Can you do that downpayment? That eliminates the Mortgage Insurance. You can also do 3%, 5% or 10% down Conventional and then eliminate the Mortgage Insurance once you get to 80% LTV. Follow?

@@KyronCunninglinguist minneapolis. For comparison, fast food starting wage is around $14.

I think he charged by the job. so he would say "I can assemble that for $100" or $160. etc. He would average that, some he would make more some he would make less.

I know, right. It is like pre-school 'round hole square peg' or the PlaySkool workbench. Those kids are better qualified. Men are going to be just fine. haha.

That's crazy. A no longer friend of mine had some dude install curtain rods for him, also I built him a PC and shipped it to him.

@@Bawkr it is like the population is becoming like the people on the WALL-E movie.

Lot's of fun! We are always having these conversation anyhow, Why not record and share them?!

Well yes, as Realtors we definitely want more inventory. We will not build our way out of this problem. New homes at best are about 20% of the current market in many areas. Existing home sellers need to sell. Many are locked it due to the interest rate but many others hate the tax man and don’t want to pay the cap gains. Cap gains is totally arbitrary anyway and if it’s arbitrary, we should change the times to start to unlock houses and get more transactions going.

@@thejasonbourne cappy was wise for getting out.

@@CraigKammanMN Yep, Cappy was/is ahead of his time.

Thank you! I appreciate that, it was a lot of work.

We found lots of surprises! haha

@@CraigKammanMN Renovations are always "fun" for tradesmen. Never know what you'll find

Thanks

@@DarrenMossman haha. You would think. But no, lakeshore is still expensive.

@@beastwithredpill yes. Email is on the homepage. UA-cam@craigkamman.com

@@ozborn3725 haha. That is the scenario that could happen if everyone thinks they can save a lot of money by going to the sellers agent. Probably wouldn't happen to that extreme in real life, but it illustrates the point.

@@CraigKammanMNI will handle no more than 5 at a time on a listing! 😂😂😂

Being able to relocate is a lot easier today with ability to earn online and telecommute. It is scary to think about what could happen with communism on the rise. One reason I am doing this channel is to try to share what I have learned and help others, try to make it easier for the younger guys coming up than it was for me and guys my age. I try not to focus on the worst case, I try to have faith and hope that good will win in the end. WW2, victory was not certain in fact it looked like all was lost.. It appears we are in the 4th Turning and things will get probably get rougher before they get better.

@@raymond_sycamore Age = 32 Income (gross) = 110K Debt = 0 Currently renting room for $700 in Virginia. (Going up to $1000 next year though, which is honestly what sparked my question in the first place). Don’t want to be a renter forever, and would like my own small place in the near future, even if it’s just a studio apartment. Obviously, Trying to do this in a smart way though. Grew up in a lower income family and just now getting into middle class. I have a very frugal and risk adverse mindset about investing, so trying to take it slow getting into real estate, because of all the horror stories I’ve heard. Just trying to figure out the best path forward like everyone else, so staying open minded as much as possible right now.

@@raymond_sycamore Im 32, 110K (gross). No debt. Currently in the DMV, renting for $700. Next year rent is raising to 1000, which is what sparked my question in the first place. Not trying to be a renter forever, but cautious about getting into real estate because of all the horror stories I’ve heard. I was thinking about moving to Tennessee, West Virginia, or North Carolina. But think I may need to travel, to see the rest of country and figure out if there’s anywhere else I’d enjoy living. Also trying to find a job that would let me work remote is one of my goals. That would make it much easier to relocate at will. Currently in IT, but Accounting is very plausible as a career shift, if it comes to that. TL;DR, I definitely got homework to do, but I am thankful for the advice of people wiser than me.

@@WizdaVision real estate is a 50/50 gamble, honestly. I wouldn’t have bought either of the properties I now own in hindsight. Now I can’t sell one, nobody wants it, and the other is just adequate but I definitely paid too much. Plus the loan is killing me. Only $90k and $751 a month but still too much for what I got. It’s a greater fool market, honestly. The only reason I’m still in Ohio is my parents live here. I’m 35, but really only started my life at 32 when I got sober and got out of debt. I really struggling with the comparison game. If you’re outgoing enough to make travel gratifying, then do it. Otherwise your life gets real lonely real fast. I wouldn’t leave where you are if you have any friends, at all. I have ZERO, and I mean ZERO social connections (and I grew up here) and it’s killing me. I don’t know why I wake up most days

​@@WizdaVisionSome reconnaissance is probably in order.

Thanks for following. Just be the best man you can be. That's what the world needs

Cool. Do you want to message me on X?

@@CraigKammanMN I tried but, it says I am not allowed to message you.

@WizdaVision I followed you back, messaging should work now. You made me aware I should have an email on this channel.

You are right. The consumer is interested in fancy appliances and shiny objects, it gets maddening. What would the house rent for? At $179k it should cash flow around $1500 per month (give or take depending on tax/insurance). Ever think about hanging on to it and letting the renter pay off your mortgage for your retirement?

@@CraigKammanMN Maybe $1,500 a month, and that's a big maybe. More likely $1,300. I would have to buy a fridge and stove for it. Im 45 days into my 4 months sales contract and the realtor just sucks, honestly.

@@raymond_sycamore That sucks. At 4 months you must be close unless it is contingent upon selling buyers home. That is the one problem with real estate, it is not very liquid.

@@CraigKammanMN Not at all. Luckily I'm in it $80k total, no debt. Having a construction background helps with housing. ;)

@@raymond_sycamore Awesome! That is a winning combo. My background is construction also. I have been able to build a ton of equity with those skills picking up rental properties. I tell young people to learn trades, because no one knows how to even pick up a paint brush anymore.

Let me know if you have any questions.

Oh no. Not Cappy! Lol