I sold a couple of homes in the Tampa area for pretty good cash and I'm thinking to just leave it in stocks while waiting for a house crash to happen and as well avoid inflation, but is this really a good time to buy stocks? I hear it's a madhouse right now and I still hear folks are raking in huge 6figure profits by the weeks and I'd love to know how.
True, I was in dilemma myself due to this chaotic market, wasn't sure if to sell or just wait a little longer, 75% of my portfolio was tanking and in the red and the economy isn’t looking promising, but I began gaining clarity and have more confidence in my investment through an adviser, I know most DlY-lnvestor like me would say advisers aren't essential, but come to think of it, they're better trained and equipped at this and if I have to give just a little amt in fees for me to be able to net $650K in less than 8months like I did this year, I truly don't mind.
@@lowcostfresh2266 I know Some still make enormous returns from this seemingly unknown market. I’m looking forward to boost my ratio in the stock market. I have not invested anything yet and i want to get started Asap. Can you recommend this coach for me please?
@@TomD226 Laurel Dell Sroufe is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.
@@TomD226 I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this.
I cashed out here in Jax and tried the stock market. Hated it. Ended up putting half into another property and left the rest for waiting on a foreclosure
If you wanna be successful , you most take responsibility for your emotions , not place the blame on others . In addition to make you feel more guilty about your faults , pointing the finger at others will only serve to increase your sense of personal accountability . There's always a risk in every investment , yet people still invest and succeed . You must look outward if you wanna be successful in life
There are opportunities even in this whirlwind, so an increase in volatility isn't always a bad thing. Volatility provides you with a chance to rebalance. You need to work with a financial advisor or broker to diversify your portfolio.
Hello David! I wanted to tell you that my husband and I just bought our first "long distance property" following the steps of your books (I also read the BRRRR book). Thank you for teaching little guys like us real estate investing through your books and podcast episodes! Your long distance REI book is EXCELLENT!!!! We would have never bought something out of state if it wasn't for it.
Hey Luke. If you're considering going into engineering, I'd highly recommend Civil Engineering. I spent the past 11 years in civil where I learned surveying, infrastructure, AutoCAD, amongst many other useful topics. These things gave me a huge leg up when it came to real estate investing. I started doing land investing since due diligence became second nature based on my career. I've also moved into multi-family new builds.
Hey Dan, I'm in school for civil engineering and living in my first investment, a duplex that should cash flow, 500-700 after we move out. Are you referencing land development when you talk about how Civil applies to RE investing?
@@micahlewis4452 Yes mainly referring to land development. I focus on infill development and civil lends itself extremely well to running due diligence on potential opportunities. For existing properties, there have been a few instances involving utilities where a Civil background helped out.
@@illes_invest Thank you for clarifying for me. Hadn't really thought about this application of my degree and am excited to have it as an assist in my RE career.
Thank you David for answering my question @8:30 mark. You are acutally very close on the cost of the garage conversion. The cost for the garage conversion would be about $61,000 and to account for appliances and other costs, we're estimating about $70k.
No reason to have different bank accounts for different properties, unless they're in different entities. For legal purposes (not necessarily tax) you can't intermingle the funds of different entities without "piercing the corporate veil". As David talks about, segregating funds in case of lawsuit is an example.
David- This was an amazing episode. You’re looking good with the Spartan Cap on. I learn so much from your answers to the questions, especially Sin’s, Luke’s and the gentleman from Cal looking to purchase in Charleston SC on this Seeing Greene” episode. This episode deserves a replay! Thanks so much for sharing your expertise selflessly to the BP community.
So I’ve been planning on buying a house as a first time home buyer (300k ~ 350k) and possibly refinancing 1-3 years after the purchase, and then moving out to rent it out, while my lady purchases another house for us to live in. How’s this first move to build my portfolio sound?
I bought my first house and never even moved into it. It was a great location as per where it sat nearest to amenities and development. And where I wanted to be,... But I also already had a great rental all the same same. I spent roughly 4k renovating my new house purchase and 60 days after purchase had it renting making me roughly 400/mo. The next month I turned to my girl friend and said that was easy,... Go buy yourself a house. She did. A mile down the rd from mine. ... We moved into it. And STR a portion of it. And I can claim one as my residence and she can claim hers as another. Or we can share address depending on need of situation. It was very easy. We both were able to cash out refi at 2% a few years later 👍
Hey David! When you and Rob are buying STRs, do you require equity in the deal if the cashflow and appreciation predictions are strong? In a BRRRR-STR, what’s your advice on financing options that don’t use DTI. Have you seen a product that is DSCR rental loan that allows for a rehab? I have funding for the down payment and the rehab and hope to refi after a few years but I don’t want to be forced in to a refi like I would in a flip loan.
Wait, a property in Covina with 3% down costing $1 mln, will be $6500 per month, and rent estimate is $3500-4000, what kind of cash flow it could generate?
Hi David. I have 100,000 to invest. Wanting to buy vacation real estate. Thinking of buying a 1/1 bedroom in Florida or lake of Ozarks renting out on VRBO. Any advice. I live in STL. Mo. I’m open to any suggestions. Thank you.
David: You Are hilarious. I was mostly listening but then had a look when you and the last guy shifted into having a lot in common. 😅 (costume change!) These questions and answers are worth their weight in gold. I’m learning so much. I like the portfolio strategy questions in particular.
Love the idea of having multiple properties in 1 entity and run the income/expenses for those through 1 account. Sure the bookkeeping side gets more tedious to decipher where each deposit/withdrawal should be assigned to but it’s not that difficult IMO 🤷🏻♀️ especially if they use quickbooks you can implement rules that can easily identify which property each deposit comes from. As long as the biz owner is diligent about tracking the expenses by property I don’t see why this would be that challenging for bookkeepers/cpa 🤓 but then again it do take good record keeping skills by the biz owner 😂
Answering the young fella. I had an engineering job for 10 years. Made a lot of money. Years 8-10, i took a second job as a loan officer and a third job as an airbnb cohost / manager. I made sure to grow my second and third job until i was able to quit my main w2 job. I agree with David on his advice. Get your engineering degree, make that money and use the extra time to find additional income.
It's interesting that they made a podcast on this topic today. I've been thinking about this lately myself. I want to maintain multiple residences so that I move around freely without spending a fortune on hotels or AirBnb's. For some context, I live in Greenville SC, and I love it here. Growing market, growing population, growing business opportunities, etc. However I want to switch my full time residence (6-7 months per year) to Florida due to taxes, and I prefer the beach. I also want somewhere to go in the summer that is a cooler climate. Since I am planning on staying in different areas for months at a time, scheduling it for short term rental would work well.
I would second Blockworks and Lyn Alden, although it may take some additional study and reading for the layperson to get the most value out of their content. Blockworks has excellent guests who have made themselves in the world of high finance, but they also have academics and others on. They never dumb down their content and get pretty in the weeds, but it‘s quality content and not some random dude who gets all his information from investopedia just repeating definitions or generalities and speculations to you. Not that investopedia isn‘t a great resource, just that it isn‘t comprehensive if you actually want to understand macro.
Hi David am in New Jersey new real estate agent looking to go into investing with my husband we need help not sure where to start from but have plans because we are like 20 mints away from the Newark international airport. We need ur help .
🤔 I have two short term rentals in Nashville. One is just a portion of my house I rent out as a studio and live in the other portion. The other rental is another house i STR in entirety. The studio rental alone pays for every bill in both houses and saves a little bit too. ..... I'd love another house. ... But how do I keep the mortgage at 1k a month like these two houses I bought almost 10 years ago?
David! Love the Show, seen every episode since #32. My question is -i have been building up my RE portfolio in growth mode using Brrr. -My properties are all cashflowing (apprication in my market is modest but consistant 2%/yr) - Properties are fully leveged on 70%LTV, 5year fixed from 2-6% (canada) - i self manage these 20 units SFH Im at a cross roads do i do debt snowball and try to pay off some of highest rate loans to increase Cashflow. Or keep brrring. I have about 330k in capital for this but by income is low and id like more. Thanks big guy
I’m not a big fan of Pittsfield Massachusetts that’s the western part of Massachusetts on the mass turnpike bottom that’s gonna probably be about 1015 miles north of the turnpike yeah I’m not a big fan of Pittsfield mass I would sell it I would invest summer in Georgia South Carolina and take your money elsewhere
Covina rents will collapse soon. Also I disagree with when you get older you should say no to a lot of things. My parents did that, thought manufacturing was where they should focus all the while the economy turned against them. they had a lot of opportunities to say yes to other things but they didn't. they weathered the storm and the storm suck them.
Don’t just move to TX!! I did and hated it. 2 years later ,I moved back to CA, which was really hard to break back into. Go and stay a few months but leave your stuff in storage in LA. Best of many blessings to you all! From someone who knows much better. 😘
I sold a couple of homes in the Tampa area for pretty good cash and I'm thinking to just leave it in stocks while waiting for a house crash to happen and as well avoid inflation, but is this really a good time to buy stocks? I hear it's a madhouse right now and I still hear folks are raking in huge 6figure profits by the weeks and I'd love to know how.
True, I was in dilemma myself due to this chaotic market, wasn't sure if to sell or just wait a little longer, 75% of my portfolio was tanking and in the red and the economy isn’t looking promising, but I began gaining clarity and have more confidence in my investment through an adviser, I know most DlY-lnvestor like me would say advisers aren't essential, but come to think of it, they're better trained and equipped at this and if I have to give just a little amt in fees for me to be able to net $650K in less than 8months like I did this year, I truly don't mind.
@@lowcostfresh2266 I know Some still make enormous returns from this seemingly unknown market. I’m looking forward to boost my ratio in the stock market. I have not invested anything yet and i want to get started Asap. Can you recommend this coach for me please?
@@TomD226 Laurel Dell Sroufe is the coach that guides me. She’s a verified coach and she helped me see that returns can be made in both bull and bear markets. She covers things like investing, insurance, making sure retirement is well funded and looking at ways to have a volatility buffer for investment risk, lots of things like that.
@@TomD226 I just looked up this person out of curiosity, and surprisingly she seems really proficient. I thought this was just some overrated BS, I appreciate this.
I cashed out here in Jax and tried the stock market. Hated it. Ended up putting half into another property and left the rest for waiting on a foreclosure
If you wanna be successful , you most take responsibility for your emotions , not place the blame on others . In addition to make you feel more guilty about your faults , pointing the finger at others will only serve to increase your sense of personal accountability . There's always a risk in every investment , yet people still invest and succeed . You must look outward if you wanna be successful in life
There are opportunities even in this whirlwind, so an increase in volatility isn't always a bad thing. Volatility provides you with a chance to rebalance. You need to work with a financial advisor or broker to diversify your portfolio.
Hey guys, I don't know anything about investing and I'm looking to invest, any help? As well who can I reach out to?
I love hybrid strategies. The STR house hack is sweet.
Hello David! I wanted to tell you that my husband and I just bought our first "long distance property" following the steps of your books (I also read the BRRRR book).
Thank you for teaching little guys like us real estate investing through your books and podcast episodes!
Your long distance REI book is EXCELLENT!!!! We would have never bought something out of state if it wasn't for it.
Hey Luke. If you're considering going into engineering, I'd highly recommend Civil Engineering. I spent the past 11 years in civil where I learned surveying, infrastructure, AutoCAD, amongst many other useful topics. These things gave me a huge leg up when it came to real estate investing. I started doing land investing since due diligence became second nature based on my career. I've also moved into multi-family new builds.
Hey Dan, I'm in school for civil engineering and living in my first investment, a duplex that should cash flow, 500-700 after we move out. Are you referencing land development when you talk about how Civil applies to RE investing?
@@micahlewis4452 Yes mainly referring to land development. I focus on infill development and civil lends itself extremely well to running due diligence on potential opportunities. For existing properties, there have been a few instances involving utilities where a Civil background helped out.
@@illes_invest Thank you for clarifying for me. Hadn't really thought about this application of my degree and am excited to have it as an assist in my RE career.
David, You Are my Real Estate Therapist lol 😁 Love this!! 🔥❤💵🤩
Thank you David for answering my question @8:30 mark. You are acutally very close on the cost of the garage conversion. The cost for the garage conversion would be about $61,000 and to account for appliances and other costs, we're estimating about $70k.
Dave you’re the man!
Excellent advice David! Thank you for helping all of us out here.
No reason to have different bank accounts for different properties, unless they're in different entities. For legal purposes (not necessarily tax) you can't intermingle the funds of different entities without "piercing the corporate veil". As David talks about, segregating funds in case of lawsuit is an example.
David- This was an amazing episode. You’re looking good with the Spartan Cap on. I learn so much from your answers to the questions, especially Sin’s, Luke’s and the gentleman from Cal looking to purchase in Charleston SC on this Seeing Greene” episode. This episode deserves a replay! Thanks so much for sharing your expertise selflessly to the BP community.
Thanks TJ!
I’d really love to learn to do this. You guys are inspiring! I have a few bands and I’d like to do this with it!
So I’ve been planning on buying a house as a first time home buyer (300k ~ 350k) and possibly refinancing 1-3 years after the purchase, and then moving out to rent it out, while my lady purchases another house for us to live in. How’s this first move to build my portfolio sound?
I bought my first house and never even moved into it.
It was a great location as per where it sat nearest to amenities and development. And where I wanted to be,... But I also already had a great rental all the same same.
I spent roughly 4k renovating my new house purchase and 60 days after purchase had it renting making me roughly 400/mo.
The next month I turned to my girl friend and said that was easy,... Go buy yourself a house.
She did. A mile down the rd from mine. ... We moved into it. And STR a portion of it. And I can claim one as my residence and she can claim hers as another. Or we can share address depending on need of situation.
It was very easy.
We both were able to cash out refi at 2% a few years later 👍
Great advice to the two people that needed direction assistance
Thank you for all the great questions you answered. I learned a lot as always.
Hey David! When you and Rob are buying STRs, do you require equity in the deal if the cashflow and appreciation predictions are strong?
In a BRRRR-STR, what’s your advice on financing options that don’t use DTI. Have you seen a product that is DSCR rental loan that allows for a rehab? I have funding for the down payment and the rehab and hope to refi after a few years but I don’t want to be forced in to a refi like I would in a flip loan.
Love this guy! Right on the ball with all the questions!! Keep it up David
Wait, a property in Covina with 3% down costing $1 mln, will be $6500 per month, and rent estimate is $3500-4000, what kind of cash flow it could generate?
I have a term for the Short Term House Hack. How about SHARP (Short Hack Acquiring Rental Property)
Thanks, I'm in the same situation as the Bruins guy. He's right, there are probably a bunch of us out there. 😊
What online real estate classes should I take?
All of them
Hi David. I have 100,000 to invest. Wanting to buy vacation real estate. Thinking of buying a 1/1 bedroom in Florida or lake of Ozarks renting out on VRBO. Any advice. I live in STL. Mo. I’m open to any suggestions. Thank you.
David: You Are hilarious. I was mostly listening but then had a look when you and the last guy shifted into having a lot in common. 😅 (costume change!)
These questions and answers are worth their weight in gold. I’m learning so much.
I like the portfolio strategy questions in particular.
Thanks Laila! Glad to see someone noticed haha
Why do you need to put more down out of state than if you had bought close to home ?
Great message to start the day.
Love the idea of having multiple properties in 1 entity and run the income/expenses for those through 1 account. Sure the bookkeeping side gets more tedious to decipher where each deposit/withdrawal should be assigned to but it’s not that difficult IMO 🤷🏻♀️ especially if they use quickbooks you can implement rules that can easily identify which property each deposit comes from. As long as the biz owner is diligent about tracking the expenses by property I don’t see why this would be that challenging for bookkeepers/cpa 🤓 but then again it do take good record keeping skills by the biz owner 😂
@38:39 😂😂😂 hilarious
👍🏠 Great video! Thanks for sharing!
Answering the young fella. I had an engineering job for 10 years. Made a lot of money. Years 8-10, i took a second job as a loan officer and a third job as an airbnb cohost / manager.
I made sure to grow my second and third job until i was able to quit my main w2 job.
I agree with David on his advice. Get your engineering degree, make that money and use the extra time to find additional income.
Yes. Keep your day job to look good to banks and build a portfolio.
How to sell a rental in the Midwest and 1031 into new construction covered in this episode. Thanks for answering this question David!
It's interesting that they made a podcast on this topic today. I've been thinking about this lately myself. I want to maintain multiple residences so that I move around freely without spending a fortune on hotels or AirBnb's. For some context, I live in Greenville SC, and I love it here. Growing market, growing population, growing business opportunities, etc. However I want to switch my full time residence (6-7 months per year) to Florida due to taxes, and I prefer the beach. I also want somewhere to go in the summer that is a cooler climate. Since I am planning on staying in different areas for months at a time, scheduling it for short term rental would work well.
Sorry, Florida is full. May we recommend California?
Im in Greenville as well!
❤️ Greenville. I'm available to possibly partner if you decide multi family development or other multiF investment.
@david maher let me know when we can chat. Just starting to get into real estate. Thanks!
I would second Blockworks and Lyn Alden, although it may take some additional study and reading for the layperson to get the most value out of their content. Blockworks has excellent guests who have made themselves in the world of high finance, but they also have academics and others on. They never dumb down their content and get pretty in the weeds, but it‘s quality content and not some random dude who gets all his information from investopedia just repeating definitions or generalities and speculations to you. Not that investopedia isn‘t a great resource, just that it isn‘t comprehensive if you actually want to understand macro.
Hi David am in New Jersey new real estate agent looking to go into investing with my husband we need help not sure where to start from but have plans because we are like 20 mints away from the Newark international airport. We need ur help .
Easier said than done.
-signed a real estate owner
Rent in the Midwest where I am has gone up ~$300. Lol
Charleston is full. Please consider another city
Where can I get to these bigger pockets forums
Great video!
🤔 I have two short term rentals in Nashville.
One is just a portion of my house I rent out as a studio and live in the other portion.
The other rental is another house i STR in entirety.
The studio rental alone pays for every bill in both houses and saves a little bit too.
.....
I'd love another house. ... But how do I keep the mortgage at 1k a month like these two houses I bought almost 10 years ago?
Man i wish rents were dropping where im at lol its hard out here 💀
David! Love the Show, seen every episode since #32.
My question is
-i have been building up my RE portfolio in growth mode using Brrr.
-My properties are all cashflowing (apprication in my market is modest but consistant 2%/yr)
- Properties are fully leveged on 70%LTV, 5year fixed from 2-6% (canada)
- i self manage these 20 units SFH
Im at a cross roads do i do debt snowball and try to pay off some of highest rate loans to increase Cashflow. Or keep brrring.
I have about 330k in capital for this but by income is low and id like more.
Thanks big guy
DM or email me
I’m not a big fan of Pittsfield Massachusetts that’s the western part of Massachusetts on the mass turnpike bottom that’s gonna probably be about 1015 miles north of the turnpike yeah I’m not a big fan of Pittsfield mass I would sell it I would invest summer in Georgia South Carolina and take your money elsewhere
I really don’t like when the title of a video is not the Content of the video
Anymore than 0 accounts with Wells Fargo seems like the riskiest investment ever.
Covina rents will collapse soon. Also I disagree with when you get older you should say no to a lot of things. My parents did that, thought manufacturing was where they should focus all the while the economy turned against them. they had a lot of opportunities to say yes to other things but they didn't. they weathered the storm and the storm suck them.
“Big guns David”
I’m already house hacking caz I air bnb my home currently! I’d like to increase my income tho!
Great question on the checking accounts 🙏👊🏽❤️🙌🏾💪🏾💵👍🇺🇦I’ve been struggling with the same question and dilemma ❤️🙌🏾👊🏽
Don’t just move to TX!!
I did and hated it. 2 years later ,I moved back to CA, which was really hard to break back into.
Go and stay a few months but leave your stuff in storage in LA. Best of many blessings to you all! From someone who knows much better. 😘
Charleston guy!! Invest in mocks corner or North Charleston 👍🙌🏾👊🏽🙏💪🏾🇺🇦👍 heavy cash 💵 flow in that area….and look into goose 🪿 creek 🙏🇺🇦👊🏽💵
I would have two separate companies and two separate accounts
Quit knocking all of the Midwest. There are some good investment locations in the Midwest!
I have been investing in real states for about 6 years and always learn something when I listen to your podcast
omg you did not just do that to answer the last question lol
Those arms are thick
SHORT-HACK
Short-term + Househack= Hackstr……..(a hack-stir)
I like it!
Great video!