This bank loan hack will show you exactly how you can take advantage of "home-owner occupied loans," which just means you "intend to live in the property" for at least 1 year, to hack your way to real estate wealth.
Meet Kevin my neighbor did this she bought the house and renovated everything I think she spent around 100,000 on renovation and rented out like 3 rooms for 3 families and she lived for 2 years and then left I only see her when she picks up the money I guess but now it makes sense why she left and rented it out I feel like doing this idea seems good especially not selling the property and since I’m 20 years old I should take action before I get married and have kids thanks Kevin for the advice 👍🏻😁
@@igorman03 I don’t regret it at all! I’m renting out two of my rooms to some friends so I’m living in it for $0 a month. If you can figure out a set up like that I would say definitely go for it!
Kevin this is fouryears later man! Energy Energy in this video. The humor, boldness, facts man! I liked I subscribed Imgonna search you on SM, yr community....this from a 52year old mom& wife all the way from Namibia. Have been in Construction homes since 1998 with intervals. Got licensed as Real Estate 2011. Lost it all, rebuilding again. This Vid, just got me hooked. Right time right place....
I remember once when i was 16, I was at my girlfriend's house and thinking they had the cheapest old rickety furniture... I couldn't understand why they would have older crappier stuff than my middle class family. But then as an adult I look back on it and remember they had a marble and gold elevator. That mansion they lived in is currently worth 30m And that old looking furniture, I later learned it was 17th or 18th century furniture from some castle and were priceless relics from way before our time. Wish I knew then, what i know now...
I used to say never sell too. But I just sold one of my properties for 360k and I paid 140k four years ago. It was cash flowing great but I couldn’t help wanting the lump sum. Now I can start my next phase which is buying houses cash and flipping them. Fingers crossed 🤞🏼
I’m 19, once my car is paid off I am getting my real estate license. I am at a good job that has great potential but it isn’t enough for me. I plan on buying 25 homes by the time I am 30. Your videos have been a huge help. Thank you!
Kevin you the best. Everything is said is spot on, like “start small and don’t buy something you gonna live in for ever”...in other words be flexible. Thanks
Kevin, you’re amazing man. No one wants to teach people this stuff. They all just want you to get stuck in their trap and drain the money out of people. God bless you
I love this video. I’ve watched it so many times. Im about to rent out my first property after living in it for 2 years. I refinanced while the interest rates were low and lowered my mortgage payment by $400 per month. Im about to rent it out with a $400 cash flow.
Just sold my rental and my main house early this spring. Feels like I hit the jackpot as far as timing. Ready to start looking for my next rental and want to get to 10 rentals in 7 years!!! #illkeepyouupdated
I'm trying to replicate this in Canada, and the banks use the 39% equation for my DGR to become qualified for a first mortgage and we are only able to use a projected rents of 50% for second investment mortgages. It's tough up here in the igloos.
Hi Meet Kevin, so if you pay 10% down and you fix it up and it's worth 10% more, how do you get rid of the PMI? Just ask the bank, refi, get appraisal?? I'm confused about this part.
I'm confused about your opinion on FHA. If you qualify for it (because you've never used it) but you don't need it (because you have enough saved), do you recommend still using it? Or should you always put down as much as you can afford?
I am a tenant currently, and I COMPLETELY AGREE with what you're saying about tenant grade!!! Tenants are not interested in fancy schmancy, cause it just makes the rent higher. Also, fancy schmancy white carpets, PLEASE no. There are new types of brown carpet that look really nice! My last landlord actually let me choose the color of carpet I wanted, that was so cool. It was a medium-dark brown, and it was Perfect and liveable!
A couple of minutes on Craigslist and 15 minutes on the phone will get you comfortable furniture for 1/10 the price. Can’t agree more with being prudent with the budget. Buying a used $350 sectional instead of a new one for 2.5-4K... I’m going to need a new water heater soon and a $4K sofa is FOUR water heaters!
Buy in the wedge. Renovate. Move and rent out. Rinse and repeat. I love this business model. Would love to invest a company doing this because I don't much interest in doing it myself.
Kevin, I love watching your UA-cam videos! I have learned so much in just 3 weeks time. In about 3 months I will be purchasing my first home to invest in. I see in your videos you talk about buying your first home and renting it out for a profit. I think this is great. The only problem that I run into in my head is if I 1. Own the house. 2. Fix it up 3. Rent it out. Where do I go in the time it takes to actually get someone in there. After I put basically all the money I have into fixing up this wedge deal in not going to have enough left to have an apt ext. Im also a person with quite a bit of stuff and I feel like showings would be better if it was empty. Now I could be wrong and I could be missing something. Id love to hear back from you with some great tips. Thanks!
Hey Kevin, I recently graduated college and finally have the time and money to start investing in Real Estate. My first step is becoming a real estate agent, getting a 200k FHA loan, and learning what a good deal is. I signed up for your class today and hope to become one of your first success testimonials!!
Kevin now hard would it be to convince an underwriter if I close on my first property. Duplex 1st unit 3 bed 1 bath, 2nd unit 2 bed 1 bath. Then 2 years later I refi to cancel out my pmi/ fha loan to a conventional loan. Then use another FHA loan to buy a larger duplex?
One thing to add is the cost of managing the property and the time it takes. If your thinking ROI (as in time vs money earned) you won't be getting ahead until you scale.
When times got tough, I sold 2 rentals and it helped us endure the yrs. I completely regret having done that! Wish I'd had you in my ear years ago. Thanks for the info and encouragement to continue on this path...
I just want to say thanks for such value information, I follow you and this is the best compilation I’ve seen! Really appreciate what you do. I am doing steps to start with real estate investments ASAP
Kevin I love watching your videos .I think your giving legitimate information and actually want to help people succeed. In my current situation I’m in the military and I will be getting out within a year . I was wondering if you could do a video for military benefits on real estate and how it could help people like me to have a advantage in the market . I appreciate all that you do , thanks Kevin 👌🏼
Question about number 14! Do you mean using the money saved up from the rents of the first property to get the second property or going to the bank and show the income of rent to get a mortgage for the second property ?
Hey Kevin, I like how to put an emphasis on holding for the long term. That is the way the majority of people will build wealth. In the beginning, you will only cash flow $200 a month. Big woop right. If that's what you want, drive Uber. However, over time that cash flow increases and you build equity. Single-family is more of a piggy bank. "Time in the market" is where you will make your money.
If you add saving $200. per month per unit for fix up cost, plus mortgage, property insurane, property taxes, property management. What do you consider a decent ROI per month per unit?
In the eyes of the IRS, real estate depreciates on paper. (In the real world it appreciates). Knowing this, you are allowed to deduct the depreciation expense of your home up to 27.5 years. Year by year. Not all at once.
Hey Kevin, Another great video! Thanks for sharing all of your knowledge. Do you have any videos on investing vs debt pay down? Trying to make sense of whether it makes more sense to pay debt before buying rental properties! Any tips you could share or videos you’ve done would help. Side note - Mad props to all the content you made this far! Keep up the good work! Best, Jordan
Hey Kevin, I hear you when you say start small, but does condo counts? or should I skip condo/apartment and try for house from the get go? I live in LA and it's really hard to start "small".
Awesome video man, what if i want to live in my home still and buy another investment property, they require at least 20% down is there another way around this?
Incredible stuff Kevin. It would be incredible to have a conversation with you because I could see it going a million different ways and learning a lot. Appreciate you making it simple
Kevin is so right, but just make sure you know you’re market really really well. But think long term and not short term. I am buying in a few months after my real estate test to save on commission
Hey Kevin question. If I wanna invest in a house let’s say it cost 65,000 it’s a fixer upper what do you recommend paying the 5% down I already have a mortgage and put in about 15,000 in repairs? And put it back in the market?
Nice! Good vidéo and good tips! Very inspiring. I have already 3 doors but I started late. one door doesn't give me cash flow. what to do? you say don't sell. I am focused on small brand new appartements with condo fees. maintenance should be minimal, thks again for the tips. Caio from Canada.
Okay this may be a dumb question but do you have to give prior notice to your tenants that you are going to raise their rent before you actually do so? Also I just passed my real estate exam and get my license soon, so Kevin please please pleeeeease be my mentor!!!
New subscriber. Kevin your channel and the information is awesome, I've learned so much from you in the last 2 weeks. I have a question. When buying real estate is it best to buy with FHA or Conventional loans ? The reason I ask is because when I bought my 3rd home I didn't qualify for a higher loan with FHA because of my rental I bought back in 2018 that I made into a rental in 2020 I couldn't use the income from the rental and therefore had to buy with conventional and a bigger down payment. Is there a way around this when investing in real estate any pointers.
Kevin! You are awesome. Thanks for the inspiration. I started watching you in August and already bought my first investment property in September... I still don't know what I am doing but hopefully I will learn soon. Closing in October!!!!
What do you think about wholesale realestate? Pulling preforeclosure and tax auction records and door knocking or cold calling those ppl then trying to assign there property and resign it for a fee?
7:00 I just let a duplex go because of the FHA MIP. The reason i let it go was because my roi was low. Maybe i have to look more into this decision and see if i should not do that again in the future
So, I’m going to be starting this at about 44 with a 4bd/2ba mfr home. I’d argue that furniture isn’t even an asset unless it’s an antique. It’s just a liability. And by studio, I’m guessing you mean a condo?
Kevin, Im thinking of buying a 4plex and I want to find one that needs cosmetic fixes to increase value and house hack. But I don’t know if its more beneficial to buy one that is vacant or occupied, though guessing most would be sold with occupants included. If going the occupied route, how would you rehab it while the existing tenants are living there (assuming lease agreement hasn’t expired yet) and raise rents on them? Or is there a better solution here?
Fixers will often be occupied so you might have to deal with getting the tenants to move. Also, hard to find fixer units, but you can -- just keep hunting.
This is what I don't understand. What happens when you just start and you have tenants that don't want to pay rent house (example. 2nd tenant have not been paying. Court Judge let them stay for another 3 months)? Don't you go into debt becuz you have to pay off the mortgage yourself?
I’m actually 20 no kids and about to invest in real estate. Was going to get my real estate license but figured I wanted to do majority of rental properties. Wish me luck
When you say «3% down payment», do you mean paying 3% of the house value upfront? In Norway you need to pay 15% upfront, do you have any tips on how I could get started here?
When I leave active duty at the end of this year i'm going to be using my VA loan benefits to do this exact thing. Move from one house to the next as often as I possibly can.
Hey Kevin, I'm wondering, once you grow it to that level, what happenes if market tanks again or a few tenants move out? You're stuck with the payments then. How do you make sure, worst case scenario, you don't default. I mean keeping 3 or 4 payments going could be a lot of trouble for a lot of people. Unless you have huge savings, or net a lot on the other properties. Which is hard especially in the early years of owning it
After the studio how do “move up”? What do you do after that? Do you refinance and take the money out and bought more property? Then won’t your mortgage be higher because your taking the downpayment money out? I’m just trying to figure out how to transition from one property to another. Also, would the bank lend you more money?
This bank loan hack will show you exactly how you can take advantage of "home-owner occupied loans," which just means you "intend to live in the property" for at least 1 year, to hack your way to real estate wealth.
Meet Kevin hey Kevin so with a 3-5% downpayment being good, are va loans good to use for properties in the wedge?
thank kevin
Kevin, can you do a video about what it means to make rental-grade repairs and touch-ups?
Meet Kevin my neighbor did this she bought the house and renovated everything I think she spent around 100,000 on renovation and rented out like 3 rooms for 3 families and she lived for 2 years and then left I only see her when she picks up the money I guess but now it makes sense why she left and rented it out I feel like doing this idea seems good especially not selling the property and since I’m 20 years old I should take action before I get married and have kids thanks Kevin for the advice 👍🏻😁
Ok how do i find a good realtor though...
Just bought my first property at 23! Thanks, Kevin!
Grats!
How is everything going? I plan on starting to buy next year.
@@igorman03 I don’t regret it at all! I’m renting out two of my rooms to some friends so I’m living in it for $0 a month. If you can figure out a set up like that I would say definitely go for it!
@@jonathanansleymusic4992 awesome thanks for the advice!
@@jonathanansleymusic4992 doing the exact same thing. Great job man. Feels good living rent free huh? 😎😂🔥
I’m 16 and I watch these types of videos every single day and when I go with my dads friends wich he flips house And I’m learning a lot
Fuck u
Neon GlocKz LMFAO wtf😂
Good job kid
im 15, ive been a active trader for some time now and am trying to qualify for trader tax status, and now im expanding to real estate as well
@@ZenCyde nice dude 👍 I’m looking for a job so that I can start investing in real estate and the stock market 📈
Ikea couch......$350
Jennifer Convertible couch ........$3500
Ok im going to ikea
I only understood about 25% of what you were saying but I keep watching because when I first found this channel I only understood 1% lol learning
Lmao same
Just keep watching over and over. Also, watch other channels too, to get different viewpoints.
Kevin this is fouryears later man! Energy Energy in this video. The humor, boldness, facts man! I liked I subscribed Imgonna search you on SM, yr community....this from a 52year old mom& wife all the way from Namibia. Have been in Construction homes since 1998 with intervals. Got licensed as Real Estate 2011. Lost it all, rebuilding again. This Vid, just got me hooked. Right time right place....
I remember once when i was 16, I was at my girlfriend's house and thinking they had the cheapest old rickety furniture... I couldn't understand why they would have older crappier stuff than my middle class family. But then as an adult I look back on it and remember they had a marble and gold elevator. That mansion they lived in is currently worth 30m And that old looking furniture, I later learned it was 17th or 18th century furniture from some castle and were priceless relics from way before our time. Wish I knew then, what i know now...
Was she your sugar momma?
what could you have done had you known that back then?? Steal them?? LMOA
@@familyaccount2467 nope, just marry her and secure the bag🤣
I used to say never sell too. But I just sold one of my properties for 360k and I paid 140k four years ago. It was cash flowing great but I couldn’t help wanting the lump sum. Now I can start my next phase which is buying houses cash and flipping them. Fingers crossed 🤞🏼
Flipping houses means youll pay most of your earnings in tax. Buy more rentals instead.
I’m 19, once my car is paid off I am getting my real estate license. I am at a good job that has great potential but it isn’t enough for me. I plan on buying 25 homes by the time I am 30. Your videos have been a huge help. Thank you!
Kevin you the best. Everything is said is spot on, like “start small and don’t buy something you gonna live in for ever”...in other words be flexible. Thanks
I brought a house with 5% down 2 years ago, redid the kitchen and bathroom and just got a valuation that has given an equity value of 25%
Nice!!!
3:01 swear to god you are the Scotty Kilmer of real estate in this scene 😂
Rev up your passive income!
Kevin, you’re amazing man. No one wants to teach people this stuff. They all just want you to get stuck in their trap and drain the money out of people. God bless you
I love this video. I’ve watched it so many times. Im about to rent out my first property after living in it for 2 years. I refinanced while the interest rates were low and lowered my mortgage payment by $400 per month. Im about to rent it out with a $400 cash flow.
K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:
What if you're 30, and starting with a negative $17k net worth? lol
dude you have so much time you'll be fine
I feel like the best part of my life will be over once I hit thirty.
@@jacoblloyd2573 That only applies to women. As a man you only start to enter your prime at age 30.
Sixty, and I will start anyway.
@meet Kevin please explain
Fellow investor, age 27, I have 8 units. Love your videos, keep doing what you're doing.
Just sold my rental and my main house early this spring. Feels like I hit the jackpot as far as timing. Ready to start looking for my next rental and want to get to 10 rentals in 7 years!!! #illkeepyouupdated
Heck yeah that's awesome!! Do it!!
Best of luck buddy!!! Thanks to Kev as well for this goldmine of information
How do you change your strategy when the economy goes down/up? Thanks.
How's progress? I'm curious!
Kevin Bamboozled me again I took a hacking course before this video thinking I was ganna learn to hack banks. Close enough thanks Kevin!
I’ve mastered it! 🤣
I'm trying to replicate this in Canada, and the banks use the 39% equation for my DGR to become qualified for a first mortgage and we are only able to use a projected rents of 50% for second investment mortgages. It's tough up here in the igloos.
I was 22 when I got my first rental back in April of 2018. 25 now and 26 this November.
Hi Meet Kevin, so if you pay 10% down and you fix it up and it's worth 10% more, how do you get rid of the PMI? Just ask the bank, refi, get appraisal?? I'm confused about this part.
I'm confused about your opinion on FHA. If you qualify for it (because you've never used it) but you don't need it (because you have enough saved), do you recommend still using it? Or should you always put down as much as you can afford?
I am a tenant currently, and I COMPLETELY AGREE with what you're saying about tenant grade!!! Tenants are not interested in fancy schmancy, cause it just makes the rent higher. Also, fancy schmancy white carpets, PLEASE no. There are new types of brown carpet that look really nice! My last landlord actually let me choose the color of carpet I wanted, that was so cool. It was a medium-dark brown, and it was Perfect and liveable!
A couple of minutes on Craigslist and 15 minutes on the phone will get you comfortable furniture for 1/10 the price. Can’t agree more with being prudent with the budget. Buying a used $350 sectional instead of a new one for 2.5-4K... I’m going to need a new water heater soon and a $4K sofa is FOUR water heaters!
BTW I’m at step 14!
such great perspective relating the cost of your furniture to the cost of improvements! Couldn't agree more!!
I'm liking Home Auctions and estate sales, with an estate sale if you shoot a bulk offer you can get a great bundle deal.
Make sure you treat the furniture first, getting bedbugs could cost you much more...
wil hallman This is what I’m saying. People are talking about buying used furniture. LoO
Tremendous value in this video! Thankful for you, Kevin
Thanks Tony!!
You told me to subscribe so many times in the video that I felt morally obligated to do so by the end, lol!
Buy in the wedge. Renovate. Move and rent out. Rinse and repeat. I love this business model. Would love to invest a company doing this because I don't much interest in doing it myself.
So true -- thanks Chace!
Maybe REITs (Real Estate Investment Trusts) they pay their shareholders a piece of the profits from the rents in their large real estate portfolios.
Kevin, I love watching your UA-cam videos! I have learned so much in just 3 weeks time. In about 3 months I will be purchasing my first home to invest in. I see in your videos you talk about buying your first home and renting it out for a profit. I think this is great. The only problem that I run into in my head is if I 1. Own the house. 2. Fix it up 3. Rent it out. Where do I go in the time it takes to actually get someone in there. After I put basically all the money I have into fixing up this wedge deal in not going to have enough left to have an apt ext. Im also a person with quite a bit of stuff and I feel like showings would be better if it was empty. Now I could be wrong and I could be missing something. Id love to hear back from you with some great tips. Thanks!
Hey Kevin, I recently graduated college and finally have the time and money to start investing in Real Estate. My first step is becoming a real estate agent, getting a 200k FHA loan, and learning what a good deal is. I signed up for your class today and hope to become one of your first success testimonials!!
Thanks so much!! Excited to have you!!
Man this is great advice! This is exactly how to start with nothing into creating “passive income” and investing in Real Estate.
Kevin now hard would it be to convince an underwriter if I close on my first property. Duplex 1st unit 3 bed 1 bath, 2nd unit 2 bed 1 bath. Then 2 years later I refi to cancel out my pmi/ fha loan to a conventional loan. Then use another FHA loan to buy a larger duplex?
One thing to add is the cost of managing the property and the time it takes. If your thinking ROI (as in time vs money earned) you won't be getting ahead until you scale.
When times got tough, I sold 2 rentals and it helped us endure the yrs. I completely regret having done that! Wish I'd had you in my ear years ago. Thanks for the info and encouragement to continue on this path...
When you raise your rental prices are you suppose to notify your tenants about it in the first day you rent it? Does it matter or not.
K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:
I just want to say thanks for such value information, I follow you and this is the best compilation I’ve seen! Really appreciate what you do. I am doing steps to start with real estate investments ASAP
Kevin I love watching your videos .I think your giving legitimate information and actually want to help people succeed. In my current situation I’m in the military and I will be getting out within a year . I was wondering if you could do a video for military benefits on real estate and how it could help people like me to have a advantage in the market . I appreciate all that you do , thanks Kevin 👌🏼
K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:.
Question about number 14! Do you mean using the money saved up from the rents of the first property to get the second property or going to the bank and show the income of rent to get a mortgage for the second property ?
Hey Kevin, I like how to put an emphasis on holding for the long term. That is the way the majority of people will build wealth. In the beginning, you will only cash flow $200 a month. Big woop right. If that's what you want, drive Uber. However, over time that cash flow increases and you build equity. Single-family is more of a piggy bank. "Time in the market" is where you will make your money.
This is gold, Kevin! Love hearing about these strategies.. Keep em coming. Thanks bud.
Anytime Joey
If you add saving $200. per month per unit for fix up cost, plus mortgage, property insurane, property taxes, property management. What do you consider a decent ROI per month per unit?
Snow Bird. Where I live you can evict someone in ten days. Vacancy costs do add up.
Can you give a cost estimate for each level?
like first studio 100k next studio 150k, 1 bedroom 200k etc ?
It all depends on your market.
Can you make a video further explaining what you were talking about with the 27yrs of depreciation?
Sure thing
In the eyes of the IRS, real estate depreciates on paper. (In the real world it appreciates). Knowing this, you are allowed to deduct the depreciation expense of your home up to 27.5 years. Year by year. Not all at once.
So pumped for your live clip every Saturday!! Btw do u get any stain on white leather seats?
Thanks! And yes! Bluejeans discolor the white seats
Hey Kevin,
Another great video! Thanks for sharing all of your knowledge. Do you have any videos on investing vs debt pay down? Trying to make sense of whether it makes more sense to pay debt before buying rental properties! Any tips you could share or videos you’ve done would help.
Side note - Mad props to all the content you made this far! Keep up the good work!
Best,
Jordan
Hey Kevin, I hear you when you say start small, but does condo counts? or should I skip condo/apartment and try for house from the get go? I live in LA and it's really hard to start "small".
If you buy a house without an agent you can get another 3% off the price. No agent on both ends is the way to go. Saves 6%.
The seller pays the agent , not the buyer , so don’t matter , you’re better off with an agent
Congrats on going up to 47k followers. Moving on up.
Thanks Nate!!
Great info Kevin! Looking to get started this year 🙌🏽🙌🏽
nice!!
Thank you, Kevin. I can't stop watching your videos! :)
Kevin, what colors were you saying? I'm about to repaint my house and rent it out! Thanks!
You can also get rid of PMI if the LTV is 80% without a refi. You can do a Broker's Opinion for about 100 or so bucks.
K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:
Great advice Kevin 🙏
Unbelievable,,,, I learn more from listening to KEVIN in 20mins, then I do from some really well recommended real estate books??????crazy
Awesome video man, what if i want to live in my home still and buy another investment property, they require at least 20% down is there another way around this?
2021 March 10th we still here for all of this Kevin!!! Thank you man!
K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:
Incredible stuff Kevin. It would be incredible to have a conversation with you because I could see it going a million different ways and learning a lot. Appreciate you making it simple
What about buying a multi family and living in one of the units. Also does upgrading HVAC make the value go up on the house ?
Is there a way to not pay taxes on cash flow?
Kevin is so right, but just make sure you know you’re market really really well. But think long term and not short term. I am buying in a few months after my real estate test to save on commission
nice!! good luck out there!
KEVIN!! quick question, you talked about conventional loans but those loans include variable interest rates??
Hey Kevin question. If I wanna invest in a house let’s say it cost 65,000 it’s a fixer upper what do you recommend paying the 5% down I already have a mortgage and put in about 15,000 in repairs? And put it back in the market?
K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:
Why flat paint wall? Hard to clean.
Nice! Good vidéo and good tips! Very inspiring. I have already 3 doors but I started late. one door doesn't give me cash flow. what to do? you say don't sell. I am focused on small brand new appartements with condo fees. maintenance should be minimal, thks again for the tips. Caio from Canada.
Hey Caio, Not that big of a deal -- do the numbers though. Long run. If it's a $100 or $200 negative, I wouldn't sell. Not worth the selling costs.
Can you do a video on how to shop or find the best investment loan mortgage rates? Like are online mortgage brokers trustworthy?
Okay this may be a dumb question but do you have to give prior notice to your tenants that you are going to raise their rent before you actually do so? Also I just passed my real estate exam and get my license soon, so Kevin please please pleeeeease be my mentor!!!
Ever Thought about putting the rental income into a compounding interest account or do you just put it back into real estate?
New subscriber. Kevin your channel and the information is awesome, I've learned so much from you in the last 2 weeks. I have a question. When buying real estate is it best to buy with FHA or Conventional loans ? The reason I ask is because when I bought my 3rd home I didn't qualify for a higher loan with FHA because of my rental I bought back in 2018 that I made into a rental in 2020 I couldn't use the income from the rental and therefore had to buy with conventional and a bigger down payment. Is there a way around this when investing in real estate any pointers.
Kevin! You are awesome. Thanks for the inspiration. I started watching you in August and already bought my first investment property in September... I still don't know what I am doing but hopefully I will learn soon. Closing in October!!!!
What do you think about wholesale realestate? Pulling preforeclosure and tax auction records and door knocking or cold calling those ppl then trying to assign there property and resign it for a fee?
Your Videos are entertaining as much as they’re informative man, I don’t know how you do that. Keep it up 👌
Hi Kevin, should I buy a first property with an HOA fee?
K:i:n:d:l:y :te:x:t:+1:2:2:5: 7:2:6:6:4:1:2: W:h:a:t:s:A:p:p:
Always so informative. Great video.
Any book recommendations while we wait for your course?
Good to Great -- Amazing book for business!
7:00 I just let a duplex go because of the FHA MIP. The reason i let it go was because my roi was low. Maybe i have to look more into this decision and see if i should not do that again in the future
So, I’m going to be starting this at about 44 with a 4bd/2ba mfr home.
I’d argue that furniture isn’t even an asset unless it’s an antique. It’s just a liability.
And by studio, I’m guessing you mean a condo?
Furniture. Craigslist free stuff. Its amazing what people throw away, especially in wealthy areas! I've never purchased a couch in my life.
Thanks for the video, Kevin!
Could you list out the paint colors and brand that you use in your formula?
Home Depot color matched Behr Premium "Edgecomb Gray" FLAT and Home Depot Behr Premium "swiss coffee semi gloss". Off the shelf color usually.
Kevin, what would you do this summer if you owned a 1 bd/1bth condo that carries a $340 Condo fee? Mortgage @ 3.75% Hold or Sell?
Great video Kevin. I learned so much.
What do you think about prefabricated quad plex?
Why drink coffee in the morning when you got Kevin to pump you up!
Agreed!!!
In one of his videos an older lady is heard saying "There's the guy with the energy of 6 people."
Kevin, Im thinking of buying a 4plex and I want to find one that needs cosmetic fixes to increase value and house hack. But I don’t know if its more beneficial to buy one that is vacant or occupied, though guessing most would be sold with occupants included. If going the occupied route, how would you rehab it while the existing tenants are living there (assuming lease agreement hasn’t expired yet) and raise rents on them? Or is there a better solution here?
Fixers will often be occupied so you might have to deal with getting the tenants to move. Also, hard to find fixer units, but you can -- just keep hunting.
This is what I don't understand. What happens when you just start and you have tenants that don't want to pay rent house (example. 2nd tenant have not been paying. Court Judge let them stay for another 3 months)? Don't you go into debt becuz you have to pay off the mortgage yourself?
I really enjoyed the wealth of information and animation.
ty for the support!
its pretty easy to buy homes only if you have good credit and a good down payment and extra cash on the side if stuff turns side ways
Do you know anything about section 184 loan? ( tribal loan )
I’m actually 20 no kids and about to invest in real estate. Was going to get my real estate license but figured I wanted to do majority of rental properties. Wish me luck
Thanks Again Kevin 😎🤘
Always!
You rock man!! Great job👍🏽
Thanks so much Brandon!!
When you say «3% down payment», do you mean paying 3% of the house value upfront? In Norway you need to pay 15% upfront, do you have any tips on how I could get started here?
Yeah, you might be stuck having to put 15% down, but a lot of the same problems that we have in the course. About 25% of the members are international
Can I use fha loan to buy multi family home.
This information is so gold!!! Love this channel 👍👍☺️ can you include your kids in next videos?! 👶👦
Totally Xuan!!
Where do you learn all this stuff ?
Doing it and making mistakes
Does all the leveraging from each property to another worry you?
I am not sure you are representing the BRRRR method accurately. If you do it correctly you should only refi each property one time.
This video hit me different. My man making so much sense for us young one's.
I'm 24 next month and already retired. Im building my house in a couple months and then plan on building and selling houses.
Wow, can you tell us more?
Always appreciate the free game. Wish you lived and worked in LA!!!!!!
Thanks Joshua!!
When I leave active duty at the end of this year i'm going to be using my VA loan benefits to do this exact thing. Move from one house to the next as often as I possibly can.
Nice!! Totally!
Hey Kevin, I'm wondering, once you grow it to that level, what happenes if market tanks again or a few tenants move out? You're stuck with the payments then. How do you make sure, worst case scenario, you don't default. I mean keeping 3 or 4 payments going could be a lot of trouble for a lot of people. Unless you have huge savings, or net a lot on the other properties. Which is hard especially in the early years of owning it
Hi Kevin, do you have a mentoring program?
After the studio how do “move up”? What do you do after that? Do you refinance and take the money out and bought more property? Then won’t your mortgage be higher because your taking the downpayment money out? I’m just trying to figure out how to transition from one property to another. Also, would the bank lend you more money?