I would’ve never known there’s such thing as a vacant homeowners insurance policy. I need to finish the course. (Learning about LLCs currently) Reading and listening to horror stories is helping me build my intuition while I save for my first deal.
One thing I noticed - LLC management requirements vary from state to state. The only requirement in Massachusetts is to pay the annual fee. Corporations do have to uphold higher standards like the ones you mentioned.
Kevin I love your videos (been working though them everyday). Any chance of you taking a look into the property appraisal side of things? Like how they figure it out or if you don’t have that knowledge how you interact with appraisers and so forth.
Kevin always providing the most value in the game. Can’t wait to invest in my first property! Gotta keep my 10k per month online biz rocking first though!
Kevin, I don't understand how slightly underpricing rent increases the quality of tenants. I thought smart selective improvements (new appliances, etc.) and increased initial rent would both improve cash flow and help weed out low rent riffraff. Would a combination of good communication, good response to problems and a stable rent price minimize turnover?
I've explained these things to many of my clients and they still dont get it. I am going to put the video all over social media, a lot of people are paying for things they dont need because their states dont honor it or they arent paying for enough protection because they just dont know.
Kevin, what are your thoughts on paying interest only on loans? I heard that Kiyosaki rarely pays off properties so that the bank always assumes liability when in legal trouble. I think he does it for multiple other reasons as well, but supposedly he primarily does it for minimizing risks.
The thing a lot of people don't realise is that principal and interest and interest only loans are essentially the same thing, except what you would pay in principal ends up in your pocket, instead of being money that is in your property. I've made a video on it which might be helpful! I always thought interest only loans were stupid until one of my property mentors explained it to me properly.
Once again Kevin, another great and very informative video! I thought I was a pretty knowledgeable person in real estate management, but your info about an asset protection trust and the surevestor landlord policy, priceless! I am now inquiring more information on these two topics from the professionals that specialize in these fields. I am so glad I subscribed to your channel earlier this year, please keep up the great work!! Purchasing your investment course is next. 😂
Hey kevin, what do you think about interest only loans? Hear me out on this, I’m not talking about getting interest only to afford more house than you can really afford. Given how amortization works, paying down principal doesn’t lower your payments and traps equity in the house. So what if you could save that portion of your mortgage that would go to principal paydown and invest it making more money elsewhere? I believe you have said before that in an economic downturn banks may freeze your heloc, but if you never paid down the principal, you wouldn’t have it tied up and can have eaiser access to it. In an appreciating market, especially if you bought a wedge deal, you should still gain equity to take out a heloc on as well.
It would also be another form of asset protection (inserts Kevin’s #dontsuemebro I’m not an attorney) since you have less equity, your asset is more debt than asset. If the money was invested in a retirement account, I believe those cannot be touched by a lawsuit. Again. #dontsuemebro
I’ve been thinking of going the LLC route because I can’t get any loans due to debt to income ratios. I know business loans are higher but I’m running out of options.
Are you sure having an HOA is a good idea for rental? If the tenants were bad I mean really bad who would be fined by HOA? My experience with HOA's has been negative like people on boards have nothing better to do than cause issues.
How do you know if a property is under market value and how do you find theses wedge deals. I feel like I would need experience working at real estate company to learn the ins and outs on what to look for and how the whole process works.
How did you get the seed money to begin investing. I just want to know where to start. I feel that for most people it’s hard enough to just afford the house they currently live in.
Hey mate I recently made a video about this, might help you. Main thing is to look at what similar properties have sold for in your area, you can work out what properties are actually being sold for. This is the fair market value. I just purchased a property that was worth 310 for 259K = 51K wedge. Look at lots of properties as well!! Don't stress too much about it, just do one thing at a time.
Let's see I pay $500 for a home warenty then I pay and additional $70 for the service call to replace said water heater that would have cost me the same amout to buy and replace my self, $570... I liked that you addresed this at the end Home Warranties are people living paycheck-to-paycheck.
I love your videos kevin but you are mostly talking about the structure of corporations not LLCs. There are no bylaws in an llc, it is called an operating agreement. And there are just members (manager-managed or member-managed) in an llc/llp. There are no board members, unless a corporation is a member itself, which is still different. LLC's are tax pass through entities you pay taxes as an individual, unlike corporations.
i been watching your videos lately I want to get into real estate business and i have a question... There is a house for sale in my area with people already renting it. its asking price is $180.000 and it is being rented for $1250. Would you say this is a good way to get into this business ? Thanks you. hope you can help :D
If you use an FHA loan and only pay 3.5% down, you would likely be paying for only the mortgage with their entire rent, meaning you would have to chip in additional cash every month to pay for any repairs, insurance, taxes, and vacancy. The only benefit to this property would be loan pay down. If you put a significant percent more down, maybe 20%, the rent may help pay those other unmentionables, but you still wouldn't likely cashflow. Personally, I would stay away from it.
🤣 Because the first 60 seconds is always the same people trying to claim, "1st comment," before even watching the video. I'm not going to drop everything just to click on a video. I'll watch them when I have time, not when YT announces a video just got posted. Keep living your best life, Ivan ❤
Maybe in your area LLCs have to do that stuff, but in most of the rest of the country that isn't true. You are giving details about a corporation, where you have an annual meeting, take minutes, etc. And even that doesn't have to be difficult, as you can do it at your dining room table. Hard to take the rest seriously when this basic info isn't presented correctly.
Here's my three bonuses: 1. Subscribe to Legal Shield. As a new investor, I sub to them for $25 a month for unlimited legal advice on a range of issues. I submit a question or document, and a local, partnered attorney usually calls me back the same day to answer my question. So far I've asked them to examine mortgage and note documents, asked legal issues about evictions, and also the topic of this video: how to protect myself. Again, this is unlimited questions, advice, and document analysis by a professional attorney, specifically a real estate attorney if you request, for $25. 2. One of the things the attorney legal shield connected me with mentioned was "tenancy by the entirety." At least in Florida, it's a way my wife and I can co-own a property, thereby protecting it from those seeking reparations from one of us. That, coupled with the homestead exemption that protects our primary residence from creditors, gives us a good amount of protection. 3. Ask questions. This ties into my first bonus. But theres a world filled with people who know more things than me. Most of the time, it costs me nothing to seek information from them (this video is a good example of that), and people usually are happy to give it as it makes them feel better--both by helping you out and also by inflating their ego by playing the role of an expert whose advice is valued. Also, evaluate the information you receive by bringing it to others. I had one RE talk to me about the tenancy by the entirety term, but it sounded questionable. So I got on the phone and cross-checked that information with a different attorney to get a different perspective and a better understanding.
Kevin originally I thought you were kinda bs But this video and the ones for the past few weeks you've really been hitting them out of the park. Have you ever tried to specifically market a property to demographics or just take any tenant? Elderly planning can be a interesting niche (i.e. as few floors as possible).
The number 1 way to reduce risk in buying real estate is to buy Meet Kevin's Real Estate Investing Course!
Thanks so much for the shoutout nick!!!
Meet Kevin just being honest brother! This course has changed my life for the better! Can't recommend it enough. 12/10 would buy again
Kevin’s dad?
No one:
Kevin: casually gliding the street while dropping knowledge, i like.
Video idea: analyze other people deals like in the real state course so we get an idea of how you do it, and maybe buy it
I would’ve never known there’s such thing as a vacant homeowners insurance policy. I need to finish the course. (Learning about LLCs currently)
Reading and listening to horror stories is helping me build my intuition while I save for my first deal.
I really appreciate how your channel is more focused on education than entertainment (although you do both!). Thanks for this!
Not many on YT can present this level of information as easy to understand as you brother. Another great video!
Karmann ghia, we used to have a lot of those on Brazil, i love this car, has a vw bug engine on it, never breaks, perfect car.
One thing I noticed - LLC management requirements vary from state to state. The only requirement in Massachusetts is to pay the annual fee. Corporations do have to uphold higher standards like the ones you mentioned.
Adam Parrott fl too
Just imagine seeing Kevin on your street filming while driving a Segway
I live in Tennessee. Hard to find under market houses right now. Got to sell the one I'm in to start in the real estate game. Maxed out on money.
LOL... the floating effect is great. Watch out for the tree.
*I need to set up my Trust. That's really the last thing I need to do. Thanks for the reminder!* 👍
What a lawyer you respect
No way
what kind of home insurance should i get if I'm house hacking with a duplex? Would i need an umbrella policy?
What? Vacant Home Owners Insurance Policy? Only learns this from Kevin.
Kevin I love your videos (been working though them everyday). Any chance of you taking a look into the property appraisal side of things? Like how they figure it out or if you don’t have that knowledge how you interact with appraisers and so forth.
He covers this in depth in his investment course.
Ahh
Thank you
you compare square footage/meters, number of bed and bath to the closest houses sold, if there are none then you expand that area.
Jetah ....no. For CMAs that is somewhat the approach to take, but that is not how appraisals work.
One word says it all basically. Comps
Kevin always providing the most value in the game. Can’t wait to invest in my first property! Gotta keep my 10k per month online biz rocking first though!
Ah Thank you!!
I duck in like that humming bird at 12:09.
Kevin, I don't understand how slightly underpricing rent increases the quality of tenants. I thought smart selective improvements (new appliances, etc.) and increased initial rent would both improve cash flow and help weed out low rent riffraff. Would a combination of good communication, good response to problems and a stable rent price minimize turnover?
GREAT INFO, Kevin. Thank you!
wow this is such valuable information, thank you kevin. I'm currently getting my license and looking to earn and save more money to buy a house!
How about a video explaining your trust & LLC combination?
AT 15.10 I saw mouse
What a gorgeous neighborhood. Looks like Toluca Lake back in the day. Great advice. Thanks
I wish you would shortened version of what was said
I've explained these things to many of my clients and they still dont get it. I am going to put the video all over social media, a lot of people are paying for things they dont need because their states dont honor it or they arent paying for enough protection because they just dont know.
Hey Kevin! What are your thoughts on prefab homes??? And would you ever consider becoming a home developer and sell your own new builds?
I love the though you put into your videos!
This dude does some random ass shit when I see him, Jedi costume, hot tub in the snow, gliding through the streets etc.
*Clicks Like*
Asset protection trusts are key!
Looks like the camera cut off at the very end of the video. The camera battery was like, "I'm out!" 🤣
@@sarahann530
Feel the hatred! Get angry!
I thrive off haters!! 🤣🔥
Hey Kevin, what conferences would you recommend for 2020? Just began my real estate license course.
are you using a wireless lav mic? or do you have a separate audio recorder? i know, completely off topic, just something that stuck lol
I go through property management... Does that protect me at all? I'm very new at this
Man how does this only get 20k views the info you can get from this video alone could save you millions
Kevin, what are your thoughts on paying interest only on loans? I heard that Kiyosaki rarely pays off properties so that the bank always assumes liability when in legal trouble. I think he does it for multiple other reasons as well, but supposedly he primarily does it for minimizing risks.
The thing a lot of people don't realise is that principal and interest and interest only loans are essentially the same thing, except what you would pay in principal ends up in your pocket, instead of being money that is in your property. I've made a video on it which might be helpful! I always thought interest only loans were stupid until one of my property mentors explained it to me properly.
Once again Kevin, another great and very informative video! I thought I was a pretty knowledgeable person in real estate management, but your info about an asset protection trust and the surevestor landlord policy, priceless! I am now inquiring more information on these two topics from the professionals that specialize in these fields. I am so glad I subscribed to your channel earlier this year, please keep up the great work!! Purchasing your investment course is next. 😂
Thank you Kevin for moving from entertainment format to EDUTAINMENT format! Much easier to believe and receive value this way.
Kevin when is the next Gray Ham remodel video coming?
Hey kevin, what do you think about interest only loans? Hear me out on this, I’m not talking about getting interest only to afford more house than you can really afford. Given how amortization works, paying down principal doesn’t lower your payments and traps equity in the house. So what if you could save that portion of your mortgage that would go to principal paydown and invest it making more money elsewhere? I believe you have said before that in an economic downturn banks may freeze your heloc, but if you never paid down the principal, you wouldn’t have it tied up and can have eaiser access to it. In an appreciating market, especially if you bought a wedge deal, you should still gain equity to take out a heloc on as well.
It would also be another form of asset protection (inserts Kevin’s #dontsuemebro I’m not an attorney) since you have less equity, your asset is more debt than asset. If the money was invested in a retirement account, I believe those cannot be touched by a lawsuit. Again. #dontsuemebro
you forgot to put on a helmet while riding .... safety first
Funny thing about that is the helmet probably would have hit that tree.
safety first!
Kevin really likes parks. I like them too.
Excellent video Kevin!!! I am wanting to do student rentals. Do you have any advice on how to charge for utilities when you rent out by the room?
I’ve been thinking of going the LLC route because I can’t get any loans due to debt to income ratios. I know business loans are higher but I’m running out of options.
Hi kevin, can you make a realistic scenario for new real estate investors if we ever have a major catastrophic earthquake? Thank you for all you do.
Are you sure having an HOA is a good idea for rental? If the tenants were bad I mean really bad who would be fined by HOA? My experience with HOA's has been negative like people on boards have nothing better to do than cause issues.
How do you know if a property is under market value and how do you find theses wedge deals. I feel like I would need experience working at real estate company to learn the ins and outs on what to look for and how the whole process works.
How did you get the seed money to begin investing. I just want to know where to start. I feel that for most people it’s hard enough to just afford the house they currently live in.
Hey mate I recently made a video about this, might help you. Main thing is to look at what similar properties have sold for in your area, you can work out what properties are actually being sold for. This is the fair market value. I just purchased a property that was worth 310 for 259K = 51K wedge. Look at lots of properties as well!! Don't stress too much about it, just do one thing at a time.
Awesome video , great information! Love it
Great information. Thank you!
Let's see I pay $500 for a home warenty then I pay and additional $70 for the service call to replace said water heater that would have cost me the same amout to buy and replace my self, $570...
I liked that you addresed this at the end Home Warranties are people living paycheck-to-paycheck.
Needed this video bro fr idk if u should get a llc
Awesome info, thanks for posting this kind of videos 👍
Beautiful Karmann Ghia
I love your videos kevin but you are mostly talking about the structure of corporations not LLCs. There are no bylaws in an llc, it is called an operating agreement. And there are just members (manager-managed or member-managed) in an llc/llp. There are no board members, unless a corporation is a member itself, which is still different. LLC's are tax pass through entities you pay taxes as an individual, unlike corporations.
WOW that car is a karmann ghia... rare VW....
Hi Kevin can you tell me where did you purchase your car sticker from with your picture on it??
hoverboard life?
Finally going to get the go-ahead from a mortgage broker to get our finance pre-approval. Time to start looking for our first wedge.
Like the clean shave look!
can I deduct your course as an expense for my investment property?
You should have gotten the minipro Segway, it's way faster.
i feel the need... the need for speed!
I really was hoping you were on wheelies. Lol
Where is Matt Risinger is when you need him 😋
Like how hard is it to rent out a house/duplex? Someone please answer my Question
What do you mean?
i been watching your videos lately I want to get into real estate business and i have a question...
There is a house for sale in my area with people already renting it.
its asking price is $180.000 and it is being rented for $1250.
Would you say this is a good way to get into this business ?
Thanks you. hope you can help :D
If you use an FHA loan and only pay 3.5% down, you would likely be paying for only the mortgage with their entire rent, meaning you would have to chip in additional cash every month to pay for any repairs, insurance, taxes, and vacancy. The only benefit to this property would be loan pay down. If you put a significant percent more down, maybe 20%, the rent may help pay those other unmentionables, but you still wouldn't likely cashflow. Personally, I would stay away from it.
Try to find something that the rent is 1% of the total cost of the home or greater if you can.
Just had a buyer back out of the deal, 2 days before the scheduled closing. Anyone looking for a house in Vista CA?
segway? lol Kevin that's hillarious.
Nice video
Kevin what's the outro music to ur xvideos I like that beat song etc ??
there is no such thing as risk free real estate. there is always a risk its just a matter of more or less.
There is a risk not taking a risk too! Be afraid to buy a property at age 24 up to 60 sounds like a mistake what rent for 36 years?
he just posted this video 6 minutes ago and theres already 23 comments. Smh yall need to get a life...
🤣 Because the first 60 seconds is always the same people trying to claim, "1st comment," before even watching the video. I'm not going to drop everything just to click on a video. I'll watch them when I have time, not when YT announces a video just got posted.
Keep living your best life, Ivan ❤
We are getting that knowledge . Worry about yourself douchbag
@@syguzman5739 gee thanks, you as well
TINFOIL DUCK. Join the tinfoil duck. Comment tinfoil duck anywhere.
7 people in the dislikes (currently) don't favor wedge deals and building wealth at a young age
I've got partners, so I use LLCs.
Partnerships YIKES lol first thing you learn in business.
@@skiutah8796 again, why I use LLCs. Never had an issue.
Maybe in your area LLCs have to do that stuff, but in most of the rest of the country that isn't true. You are giving details about a corporation, where you have an annual meeting, take minutes, etc. And even that doesn't have to be difficult, as you can do it at your dining room table. Hard to take the rest seriously when this basic info isn't presented correctly.
So much easier to deal with this in canada theres only 3 major types of business
Here's my three bonuses:
1. Subscribe to Legal Shield. As a new investor, I sub to them for $25 a month for unlimited legal advice on a range of issues. I submit a question or document, and a local, partnered attorney usually calls me back the same day to answer my question. So far I've asked them to examine mortgage and note documents, asked legal issues about evictions, and also the topic of this video: how to protect myself. Again, this is unlimited questions, advice, and document analysis by a professional attorney, specifically a real estate attorney if you request, for $25.
2. One of the things the attorney legal shield connected me with mentioned was "tenancy by the entirety." At least in Florida, it's a way my wife and I can co-own a property, thereby protecting it from those seeking reparations from one of us. That, coupled with the homestead exemption that protects our primary residence from creditors, gives us a good amount of protection.
3. Ask questions. This ties into my first bonus. But theres a world filled with people who know more things than me. Most of the time, it costs me nothing to seek information from them (this video is a good example of that), and people usually are happy to give it as it makes them feel better--both by helping you out and also by inflating their ego by playing the role of an expert whose advice is valued. Also, evaluate the information you receive by bringing it to others. I had one RE talk to me about the tenancy by the entirety term, but it sounded questionable. So I got on the phone and cross-checked that information with a different attorney to get a different perspective and a better understanding.
Tenth!!
First
tiny segway life!
No helmet kind of risky ^-^
There's not a lot of risk. He already has brain damage and his head is pretty thick.
Would love to see a video on how the presidential impeachment will affect the economy and what opportunities may arise.
Kevin originally I thought you were kinda bs But this video and the ones for the past few weeks you've really been hitting them out of the park.
Have you ever tried to specifically market a property to demographics or just take any tenant? Elderly planning can be a interesting niche (i.e. as few floors as possible).
4 Da Utube algorithm!
Kevin is daddy
The lady who hit me with her car shouldve watched this lmao. Los Angeles drivers are the worst
Could of sworn I’ve seen this video before.
That's because the playground lol
Big pimping on the Segway
Second
There are some properties in my old town that i would like to by buy getting a mortgage is hell when your poor and ugly and dark 💪🎭
@William Morin ik I'm just poking fun at myself, most people who claim tip be confident can't do that 😂
Kevin, stop scamming people. You a snake dude. I recognize your type.