Bro I’m 25 and got 8k saved up literally moving too my parents this month too save. I appreciate the video knowing that there is content like yours out there that this dream is possible 🙏🏽🔒✊🏽
Forsure bro, all the knowledge is out there, just check out biggerpockets and read up. From there its all about putting in the work to make and save the funds to get your first one. 100% possible if you're ready to put the work in.
Would you mind making an in depth video of the full purchase process of acquiring this property? Ex how you found the property, how long it took to close on the deal, how you have or are currently looking for tenants, etc.
Ahh I would but I'm busy with real estate media business currently. I got really lucky by having a kickass agent that also owns rentals. This was the 3rd unit we toured within 1 week of starting to look. We looked at the property same day it went live or very next day and made a full price offer that same night we looked. It took about 45 days to close, it has been easy to rent due to housing shortage and also it being a unique property (townhome side by side style) and in a great safe neighborhood. I used zillow, facebook marketplace for finding tenants and had dozens of applications so was able to find quality tenants within a few days of posting.
so just an investment thought. You could wall up the kithcen entrence and make the entrence from the other side, while walling off where the railing is creating an upstairs room. Adding an extra room could raise rent prices. More cash flow after investment yk
Very impressive for your age! I'm 45 and will barely be purchasing my first 4-plex, but my son is your age and I just sent him this video. Would be cool if we could do it together. Congrats, and you got a new subscriber:)
Wooow!! This is impressive! Im from the U.K and looking to invest in 4plex properties. I will be looking to move to the U.S but it would be great to know how to invest in property there from the U.K
Congratulations Chidi. Did you seller financing or did you go with a bank loan?. However, I would love to connect, I'm Igbo as well and work in real estate in Houston. Texas.
Did you document the process you took on finding the location/property and how you calculated the ARV of the property? Great video, congratulations on your success!
My agent found it for me and sent it over the night before. I put a lot of trust in her and also looked at the cash flow projections. This was going to be a long term investment that I would live in for a year or two and fix up, not a flip. Finding an agent who has rentals and deep knowledge of the market was a big key for me.
Dude I love the story. I started a business to fund real estate investments as well and after 5 years im coming up soon on purchasing a 4 plex. I have a question. How much were your closing costs? I’m a little confused on how investors are paying for that part. Is it with cash like your down payment? Do you add to your loan? What did you do?
Sweet man, congrats on the moves! Closing costs will be out of pocket in addition to your down payment. So yes, you will bring a check for the closing costs PLUS downpayment at the time you close on your property. Normally about 1-2% of the purchase price depending on your area Biggest tips: Learn to run the numbers on deals and understand all the cash flow AND expenses Work with an agent that owns rentals themselves and has a portfolio. They'll be able to run numbers for you and truly know if its a solid investment. Its a good idea to save up more than you think you'll need. It can be stressful to put all your money into a property, then have a big expense, then feel broke and stressed. With interest rates so high, it is much harder to make deals work in this market, stacking cash and waiting for rates to come back down isn't a bad move. Best of luck!
Hey bro I’m 20 yrs old saving for my first property right now, I got a really good paying job that’s gonna allow me to make a huge down payment. I definitely have questions , do you have a instagram I can hit you up on?
Nice man, depending on your goals it might be better to do an fha loan and keep the extra money for renovations / reserves. It all depends on what your style of investing is. But I like the idea of tenants paying off almost the whole house haha. And renovating / updating units is a lot more $$$ than you'll expect so it helps to have a lot of extra cash in hand so you aren't stressed out.
This is amazing! The way you stay disciplined and sticked with your future vision is dope! I’m still in the educating phase, learning the factors to making a good investment. Once I gain enough cash/knowledge. I for sure want to start with a fourplex as well!
Congrats my man thats awesome, hopefully your boiler doesn't go out within a month lol. Best of luck! Zillow is awesome for rental management and screening, leasing, and rent collection all-in-one!
Are you planning on making videos based on that plan of yours? I’m currently active duty but I gotta another 1-2 years before I’m eligible to leave base and use my VA loan but I wanna see the transaction process of actually using your va loan for a multi family property.
@@TheRenegade. I definitely plan on it I have a buddy in your same situation he got another year and some change before he gets out I’m making a separate UA-cam for it make sure you get a 4plex or tri plex as your first property
@@WeAllWeGot333 gotcha I’m just saving currently for any associated cost that the va doesn’t cover like closing costs, etc. I’m hoping the seller will include those cost on the property at closing but if not I’ll be prepared to pay. And that’s exactly my plan hoping for a 4plex but even a duplex would do just fine. Also do you have socials rn for your potential buy? I’m really interested in seeing this transaction go down.
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Bro I’m 25 and got 8k saved up literally moving too my parents this month too save. I appreciate the video knowing that there is content like yours out there that this dream is possible 🙏🏽🔒✊🏽
Bro it’s closer than you think 🙏🏾 smart move man. Stay focus and you’ll be signing on your first property before you know it
Good luck brother. I live with my parents and I do the same. Budget smart and think long term. Wish you the best!
Exactly!
Hows it going
Great job renovating, and planning for future while still so young. I'd love to see update.
Thank you! great idea
This looks amazing!! You did an awesome job! We fix up houses too and I can’t believe your first fix up looks this good! You have a talent here!
Haha thank you. Trust me I made sure to skip the areas I messed up 😂
nice dude i love that 4plex man its a great property. basically exactly when i am looking for in my area.
Awesome, best of luck. has been great so far aside from my boiler going out on me, quick $12k repair haha
I’m 18 and I wanna do this thank you for this video I love learning about real estate
no problem, glad it helps. Go for it my man!
great job man. Very inspiring. Maybe I can do something like this too when I learn how.
Forsure bro, all the knowledge is out there, just check out biggerpockets and read up. From there its all about putting in the work to make and save the funds to get your first one. 100% possible if you're ready to put the work in.
Would you mind making an in depth video of the full purchase process of acquiring this property?
Ex how you found the property, how long it took to close on the deal, how you have or are currently looking for tenants, etc.
Ahh I would but I'm busy with real estate media business currently. I got really lucky by having a kickass agent that also owns rentals. This was the 3rd unit we toured within 1 week of starting to look. We looked at the property same day it went live or very next day and made a full price offer that same night we looked. It took about 45 days to close, it has been easy to rent due to housing shortage and also it being a unique property (townhome side by side style) and in a great safe neighborhood. I used zillow, facebook marketplace for finding tenants and had dozens of applications so was able to find quality tenants within a few days of posting.
Good stuff man keep up the hustle
thank you!
Aye let's gooooo! Goodluck to you man!
thank you boss
so just an investment thought. You could wall up the kithcen entrence and make the entrence from the other side, while walling off where the railing is creating an upstairs room. Adding an extra room could raise rent prices. More cash flow after investment yk
Very impressive for your age! I'm 45 and will barely be purchasing my first 4-plex, but my son is your age and I just sent him this video. Would be cool if we could do it together. Congrats, and you got a new subscriber:)
awesome!
Top notch video lil bro!!! 💯
appreciate you!
Outstanding job
Great video! Love it!
thansk brotha
Wooow!! This is impressive! Im from the U.K and looking to invest in 4plex properties. I will be looking to move to the U.S but it would be great to know how to invest in property there from the U.K
thats awesome, have no idea about uk market. But this investment has been great to me so far
Nice work!
Thank you!
Awesome!
Much appreciated!!
5% downpayment? xD In Sweden u need 20 to 25% plus taxes and closeingcosts. It seems like you found a good property, well done!
wow yeah much different overseas, thank you for the support
Hey your videos are extremely motivating. What state or town is this property located at?
Congratulations Chidi. Did you seller financing or did you go with a bank loan?. However, I would love to connect, I'm Igbo as well and work in real estate in Houston. Texas.
Aye brotha! Hit me on Instagram @ChidiIwuohaJr - I got an fha loan with a local lender
That’s amazing! How did you get a 2% interest rate? Did you buy down?
This was back in the crazy market a couple years ago hah didn’t have to buy down
Did you document the process you took on finding the location/property and how you calculated the ARV of the property? Great video, congratulations on your success!
My agent found it for me and sent it over the night before. I put a lot of trust in her and also looked at the cash flow projections. This was going to be a long term investment that I would live in for a year or two and fix up, not a flip. Finding an agent who has rentals and deep knowledge of the market was a big key for me.
@@realestatemediapro got it, thank you for the reply.
Dude I love the story. I started a business to fund real estate investments as well and after 5 years im coming up soon on purchasing a 4 plex. I have a question. How much were your closing costs? I’m a little confused on how investors are paying for that part. Is it with cash like your down payment? Do you add to your loan? What did you do?
Sweet man, congrats on the moves! Closing costs will be out of pocket in addition to your down payment. So yes, you will bring a check for the closing costs PLUS downpayment at the time you close on your property.
Normally about 1-2% of the purchase price depending on your area
Biggest tips:
Learn to run the numbers on deals and understand all the cash flow AND expenses
Work with an agent that owns rentals themselves and has a portfolio. They'll be able to run numbers for you and truly know if its a solid investment.
Its a good idea to save up more than you think you'll need. It can be stressful to put all your money into a property, then have a big expense, then feel broke and stressed.
With interest rates so high, it is much harder to make deals work in this market, stacking cash and waiting for rates to come back down isn't a bad move.
Best of luck!
Great video!
What color are the cabinets?
have no idea my friend picked it out haha, its a dark blue color, came out great
What website did you use to find it?
So is it a requirement to live in it or was that a personal decision?
So with an FHA home loan you are required to live in it for a year as your primary residence.
How did you get such a low interest rate during these times?
I got approved back when they were still low.
Nice property. What city is property located?
Anchorage, Alaska my man
Do you know how much the value of the property has gone up after the renovations ?
I think around 40-50k since I owned it. would have been more if interest rates were still low
What country is this please?
united states
Can’t hear you over the music when you are not speaking into the mic.
made this video on the fly, will definitely get audio next time
Hows it going bro? U got an ig i can follow
@chidi_gainz
Hey bro I’m 20 yrs old saving for my first property right now, I got a really good paying job that’s gonna allow me to make a huge down payment. I definitely have questions , do you have a instagram I can hit you up on?
Nice man, depending on your goals it might be better to do an fha loan and keep the extra money for renovations / reserves. It all depends on what your style of investing is. But I like the idea of tenants paying off almost the whole house haha. And renovating / updating units is a lot more $$$ than you'll expect so it helps to have a lot of extra cash in hand so you aren't stressed out.
This is amazing! The way you stay disciplined and sticked with your future vision is dope! I’m still in the educating phase, learning the factors to making a good investment. Once I gain enough cash/knowledge. I for sure want to start with a fourplex as well!
Thank you! best of luck to you. Definitely finding an agent that has rentals themselves is a major major key.
This was awesome man! We just bought a 4 plex thank you for posting your journey.
Congrats my man thats awesome, hopefully your boiler doesn't go out within a month lol. Best of luck! Zillow is awesome for rental management and screening, leasing, and rent collection all-in-one!
Great video! If you ended up renting this, how much did you rent it for?
Wow! Good job! Didn't know units like that existed.
Happy for you man, that's a great interest rate
I got so lucky, didn't even realize it until now
Get a mic bro, can’t hear u half the time! Keep it up!
forsure, I made this on the fly didn't have my gear with me
Cudos to your father bro, and great job for representing 💫💯
wow thank you, really appreciate it
Hey what state are you in?
alaska
Bro I gotta get in touch with you I’m about to do this next year with a va loan
Are you planning on making videos based on that plan of yours? I’m currently active duty but I gotta another 1-2 years before I’m eligible to leave base and use my VA loan but I wanna see the transaction process of actually using your va loan for a multi family property.
@@TheRenegade. I definitely plan on it I have a buddy in your same situation he got another year and some change before he gets out I’m making a separate UA-cam for it make sure you get a 4plex or tri plex as your first property
@@WeAllWeGot333 gotcha I’m just saving currently for any associated cost that the va doesn’t cover like closing costs, etc. I’m hoping the seller will include those cost on the property at closing but if not I’ll be prepared to pay. And that’s exactly my plan hoping for a 4plex but even a duplex would do just fine.
Also do you have socials rn for your potential buy? I’m really interested in seeing this transaction go down.