@lol bad kid 5 months ago he posted a video showing that he made $17,000 a month from UA-cam ads alone. thats definitely a lot for someone with 230k subs. plus the revenue he makes from selling his real estate courses which he obviously advertises on his UA-cam channel. UA-cam is his biggest revenue stream by far. the same is true for Graham Stephan. ua-cam.com/video/UddvAYsH7nA/v-deo.html
@lol bad kid zthe subs are not really that important. with good research and a lot of work, you can have millions of views on a new fresh channel with the first vid. the algorythme doesnt look at subs anymore
@Shuttle_Bug The ad had a lot of pics. So I had a lot of info thru the pics. The house is small 400sq ft And new 11y old. Plus I was just going with my gut feeling. I paid more for my daughters used car than I did for my house. If I see a comment I reply. If I don’t I don’t reply.
Wow I did not expect to see my neighborhood when I started watching this! As soon as I saw the school, I knew exactly which house you were talking about! People are working on it now so I guess someone ended up buying it. That house is a such a blight to an otherwise fantastic neighborhood. We are renters and would love to buy here. But inventory is low and people can get good money selling a house that hasn't been updated since the 60s. We moved here 2 years ago from the east coast and we've been impressed at how nice and Norman Rockwell-ish this neighborhood is. So hopefully one day you can find another house around here. Great video! I'm relieved for you that you got out of that deal!
Not gonna lie, Kevin's style really grew on me. I REALLY appreciate all the knowledge that he shares and how he still feels like someone I can relate to.
I bought my first property at auction. They’re “as-is” and “buyer-beware”. ALWAYS research them BEFORE bidding. GREAT OPPORTUNITY BUT ALSO GREAT RISK!!!!
Rehab Life 7 off the auction? Nice I’ve bought 7 properties myself, 4 this year, but only 1 was off the auction, the rest were MLS or off market deals.
RAM Real Estate Investing 6 were auction ... one I saw on Facebook marketplace and offered 30% of what they were asking. 3 in 2019 my goal is 4 in 2020.
Rehab Life nice! Great work! Love it! It really is like a snow ball effect, once you get rolling you get the confidence and knowledge to do more and more!
oh man... that's why i think every country should have laws like Japan has. you HAVE to inform the buyer about known issues to the property (and put it in the contract) or you have to fix it with your own money if anything is found in the next 3 months (or a month, i don't remember). as long as the seller is not cheating, he's fine, and the buyer is safe too.
you actually do here in California, I even have to note if someone died in the house within 20 years , but auctions are different as those are completely as is
califdad4 sorry as i am not from the us I don’t really know the laws there. What I meant was in Japan if you find a fault in a house (a one that seller didn’t disclose) during a specific period AFTER you got the house, he has to repair it. Even if the seller didn’t know about it. For example, when I sold my house there I had to fix a leaking pipe under the sink I didn’t notice.
sorry for the several same messages my replies were not showing up like i had done something wrong and canceled . There was a huge lawsuit in the 1970's here in California, some people bought a home near Grass Valley, Ca, ( a nice foothill area about 2000-3000 elevation ) and discovered afterwards that a horrible multi murder had happened in this house several years before. It was in the Courts for several years, and they won, so now you have to disclose everything including deaths within 20 years
This is a decent enlightening post that you have shared and appreciate your work in sharing the data. I value your endeavors and all the best. Praise your work and continue sharing your data.
@@FkReplicons So, you completely missed the major points of the video, being 1. don't be in a hurry and 2. read and understand fully the fine print. It's because he did the second he was able to avoid the deal and mitigate his losses. Had he not fully read and understood the fine print, he would have a major loss. So clearly, *you* didn't understand the video. No wedge for you!
It’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a broker, before I started seeing any significant results in my portfolio, been using the same Adviser and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
Auctions are annoying for at least 3 reasons!: Can’t inspect it Have “cash” with cashiers checks They usually get delayed the date They’re usually really messed up properties
DontSquint Tint I have been able to inspect every property I’ve bought at auction. It’s true you typically need cash, but the deals are there and yes, they typically require at least some moderate work.
Max R usually to correct issues in the process that could lead to a reversal of the sale. Incorrect service, advertising, typo in the legal or address etc.
Ten Plus The only thing I get emotional about when I buy property is how much money I can make on it. And while I do make some decisions sight unseen, it’s always at a position that I can make money. I told the guy one time I don’t care about your grandmas house I just care about how much money I can make on it. He wasn’t impressed.
@guss whu So the buyer discounts his bid, basically includes the fee in his calculations. Maybe some bidder won't, but that is really a noob move. His bid is discounted so the final profit remains what he expects.
Good thing you didn’t sign the contract! $30k would have hurt. This reminds me that I should keep a golf ball in my car when I’m out looking at properties with clients. Foundation issues are by far the worse.
We've lived in a house bought at an auction in the 80s when interest rates were at 13%. It has a few flaws but for the most part we live with it. A lot of our friends moved up in house but we paid it off and live debt free.
I bought a house sight unseen in 2010 at auction for $3k. I could tell by the picture (of the outside) that it didn't likely have foundation issues, and I knew it had been on the market for around 50k several years earlier. It ended up being a gut and redo, but it was worth it. My mortgage is only about $55k, although I put a lot of my own money into it as I fixed it up. I figured my worst case scenario I'd only be out 3k.
@@abacab87 you are resourceful, and independent. Good for you. I realized long ago that there is no freedom in following the crowd. My husband & I retired in good shape. Some of my friends in fancy houses are still working.
Still I hope you refinanced at some point in the thirty years you were paying that high rate! I bought in 1997 and paid it off in 2012. Retirement without a mortgage is great.
@@philipem1000 we had a hard time getting a bank to take us because we owed so little, but we combined the mortgage with a new roof and managed to get it refinanced. I'm so glad we have the security of owning our home at this point. I worry about some of my relatives in their fancy houses now that jobs are no longer secure.
i had a friend. they said he wasn't always right, but he was never in doubt. good luck with your future home runs and hopefully your lumps, bumps, and bruises won't be too severe.
It is definitely a shocking learning course! Good thing is you can conduct the post auction inspection. Most of auction don't give you access to the property till the deal closed.
Thousand Oaks homes built in the 1950-1960s are likely to have foundation problems. One of the builders was indicted for laying rebar, getting inspections, moving rebar in the middle of the night, and laying the slab without rebar to save some cash.
Nice Video! Forgive me for butting in, I am interested in your thoughts. Have you tried - Tarbbatigan Vintage Sales Tip (erm, check it on google should be there)? It is a great one of a kind product for finding government and police auctions for cars trucks and SUVs without the headache. Ive heard some awesome things about it and my m8 at last got astronomical success with it.
Appreciate Video clip! Forgive me for butting in, I would love your opinion. Have you tried - Tarbbatigan Vintage Sales Tip (probably on Google)? It is a smashing one of a kind guide for finding government and police auctions for cars trucks and SUVs minus the headache. Ive heard some extraordinary things about it and my mate at last got excellent success with it.
Kudos for the Video clip! Sorry for butting in, I would love your thoughts. Have you tried - Tarbbatigan Vintage Sales Tip (search on google)? It is a smashing one off product for finding government and police auctions for cars trucks and SUVs minus the headache. Ive heard some pretty good things about it and my old buddy Taylor at last got excellent results with it.
Appreciate Video! Apologies for the intrusion, I would love your initial thoughts. Have you tried - Tarbbatigan Vintage Sales Tip (do a google search)? It is a great one of a kind product for finding government and police auctions for cars trucks and SUVs without the normal expense. Ive heard some decent things about it and my old buddy Taylor at last got cool results with it.
The only way I'd buy real estate sight unseen is via a tax foreclosure where you pay the outstanding tax bill and get the property. That's just me, I'm sure some people can do okay at times in other circumstances, but it had better be a radical deal like that to induce me put down $500k+ when I've never set foot on the property.
@@anh7807 States have tax foreclosure sales once a year. You have to apply, it's like a lottery drawing. "Winners" are picked on a random basis. If you are picked, they call you (or ask in person if it is a one-day meeting) to see if you want to pay the tax bill. The person foreclosed on has a set amount of time to redeem the property (three years usually). They must pay you your principal and big interest. If they don't redeem, the property is yours. Your security is the property. States vary on the details.
Moving forward would your foundation company be willing to provide a search of their records/previous reports on any future properties you might want to purchase?
It would be sorely tempting to leave a sign in the window that says BAD FOUNDATION! NEEDS MAJOR REPAIR! CALL (foundation company) FOR REPORT! Sadly, this would probably get him in trouble with the real estate board and certainly his local group. It would probably reflect badly on the foundation company as well, innocent as they would be.
I wouldn't call waiving your options to inspect, etc. as getting screwed... but I also wouldn't buy a slab site unseen either - least of all in an area where post-tension is the norm.
Minimize the wedge on the downside. Same thing you teach on the investing side just in reverse. You didn't make a mistake, you just taught your same method in a completely different way!
Cool to see these kinda video posted so it gives u info on how buying a place works and kinda risk u take when the place is not in best situation as to the minor or major details u gotta fix before u either move in or try fix and resell by chance.
If the house makes it far enough in the process to become an "online auction" on Auction.com I have found that there is always major problems with the property.
yup many of the best real estate deals are taken even before they make the MLS listings, usually by friends, families, and associates of the listing agents. Then the best of the ones that do make the listings are scooped up by serious and experienced investors within a couple of days. Then you got your inexperienced layman fighting over "bottom of the barrel" properties at online auction sites.
I would be afraid to buy any kind of property in California as thousands are leaving each year. It will get hard to sell/rent and get money back. I live in the Dallas area and you can't drive anywhere without seeing at least two or three California license plates
Similarly I was interested in buying a car I've been wanting to own, found an ad went to check it out at night time, what I did wrong was I didn't inspect it well as usualy do when buying a used car, checking it at night time was a terrible idea, Immediately there were red flags but instead of walking away I bought it and was hoping for the best.I ended up paying for it more than it's worth, had plenty problems and needed alot of repairs. I learned my lessons I was being impatient and decided to quickly ,hope is not a good strategy.
Davoin Shower Handle omg the same thing happened to me. Got frustrated and anxious I was gonna lose this deal ass all the other ones I tried to look at were snatched up and I ended up just buying the one I have now without really thinking about it. Now I’m paying for it. :( fuckin Mazda crap. P
great video... you got emotional because there was no time left for the auction, but still managed to win if the house was good it would be a big win..
This will sound crazy to you. But what if you found someone to lift the whole house up and remove and pour a new foundation under it. I have seen it done. Actually there is a guy in my home town that just did this. Dug and poured a new basement and just had the house moved over on the same property.
Thank you for this! I won a property and have discovered a brand new lien that was not disclosed because it was just filed by the mortgage company that bought it at a sheriff's sale auction not long ago. Would have been on the hook for $48,000 from a second mortgage that was taken out. BUT I haven't signed the purchase agreement yet! Yay! I am walking away!!
Two words. "Full Disclosure" If this property was know with foundation problems, and the auction house did NOT disclose the problems, they can be held liable. You should be able to back out of the deal losing nothing. If it was disclosed, then the screw up was yours.
Not according to most state's laws. There are several categories of properties exempted from disclosure -- e.g., estates, props given to charity, props transferred between investors, props traded for non-real estate items of equivalent value, etc. etc. Even if the foundation LOOKED hinky, it's not legally KNOWN to be hinky (and thus subject to disclosure) until evaluated by a professional -- here, a builder or structural engineer. The seller just didn't do that -- it's not in his interest to find out bad news, because then there's an official record of it, he gets entered into some county or state database, and he's on the hook to remediate come sale time. In same vein, there's a difference between spotting what somebody THINKS MIGHT BE mold, and "KNOWING" -- in a legal sense -- about the presence of mold in the house. If you never test it and confirm, technically you don't have to disclose -- it's up for Buyer to do so as part of his Due Diligence. Of course, the terms of online auctions usually make a real attempt at DD impossible -- at best Buyer is limited to peeking through windows prior to purchase. This difference between knowing and KNOWING isn't just a dodge. I once had a home inspector warn a potential buyer about "apparent green mold" on a counter in my garage -- which I *knew* was in fact green paint, since I'd spilled it there! But the timid, cash-strapped first-time buyer, scared by several other inaccurate "findings" in the home insp report, backed out anyway.
He would have to prove that the Seller knew about the foundation inspection report. The previous homeowner probably knew, but that does not mean they told the bank, which in turn would have disclosed that to the auction house.
Another aspect of the online auctions -- at least for me -- is that I have had the seller or auction house (I do not recall which) bid against me because "I had not bid up to the reserve amount". While I understand that I was not going to "win" with my bid as it stood, I have to wonder if they also bid even afterwards -- just to up the price.
Credit where credit is due, you spotted that foundation issue immediately. A lot of people would only figure it out three weeks later when they own the property lock, stock, and barrel. Recovering from mistakes is the key to success.
I bought a house on auction.com in another state I was living in. I waited till the very last to bid. When I clicked the bid it said I won.Made a lot of money off the house in less then a year
I know there's no quick and fast way to fix house's with cracked foundations, my Exwife has a house that has foundation problems and she called Perma Jack and they put these pipes in the ground and jacked the foundation up. I'm thinking since your in construction also maybe there's a way to revolutionize a new faster way to fix foundations? If it's not a wood floor house you can't jack it up and put steel beams under it. Maybe if a house has a slab with nine foot ceilings you can lay rebar down on excisting slab and pour new cement and then have 8 foot ceilings?🤔
Been binging your real estate videos the last few days (first catching your awesome self employed PPP/EIDL/etc vid 🙏🙏), this is my favorite one next to the mortgage crisis one from April 12th. Thanks for making these vids for us @meetkevin, learning so much
Joseph Du yes he is and it’s early in his childhood too I’m trying to reach my god kids on the subject of financial education and it’s so hard. So they gotta make the big financial mistakes first and then they get what I’m saying.
Good analysis. Always analyze how much you can lose before you sign and evaluate the property for foundation issues. Makes me wonder is this property was in the same issue or was it the same builder or time period where they had foundation issues. Wish you would tell what property it is since it will go back on the auction block with no one being the wiser. I guess look out for properties from lawyers cause there might not be a full disclosure. I hope in the future they do allow those that bid a period of time to inspect the property. It's going to be 2020. Too much people pass of really damaged property. December seems to be when you can dump your money pit of a property, and people think it's a deal. I learn so much from you I need your course.
LOL. Well this time Kevin got the wedgie, but only a modified low level wedgie. And doing what he does it's inevitable that once in a while a deal turns into a loser. He made the right risk. I'd argue that while he didn't get his hoped for $125K profit he made an intelligent choice, and after the tax deduction and the revenue from the video it's maybe a break even for him. Even if it's a loss, at his scale of operation it's inconsequential.
I knew of one guy who did not even view the house from the outside. He won the auction and collected the keys. He was dumbfounded that the entire roof was missing.
There may be something in between fixing a foundation for 90k and doing nothing.. You only want to write your jealousy/anger away on a random video without paying attention to the actual details in the particular video.
@A Berryman Flippers buy houses to resell, the exact meaning of "flip" in trading terms. Cleaning it up isn't flipping, reselling it is flipping it. Kevin doesn't flip. He doesn't buy to live in a house either. He buys a house to make money by renting it out. And he wasn't moaning either. He was explaining how he mitigated his risk.
Yeah, why would renters care?! They could rent it for cheaper than other houses in the area, and the owner could still make a better ROI without fixing it (unless neglect makes the house go further down in value).
Kevin I think the fact that neighbours don't have a foundation issue is good in the long run. It means the ground is solid which is the most important when doing foundations.
Having all of your documents in a Google Drive is very smart. It’s the same documents each time so you can have the updated documents ready when you’re putting in offers. Brokers really appreciate you having everything ready so that they’re not processing everything piece by piece; they can focus on you until you’re done.
Last time I put money into an online auction without a preview, it was a trumpet that looked great, but was beat up worse than what Holm did to Rousey. I have it mounted and hanging on my office wall as a constant reminder--preparation meeting opportunity is how you define luck; and this kind of luck finds winning deals.
making sure theres no “yeah, but”’s is crucial. Great way to remember somethings that could be the reason the property seems under market value, but really theres a yeah but, they have to back up right on a busy street.
Most homes today are built to a much more stringent building code and with better materials and technology. Straight and plumb walls for example. Stronger structural members. Steel fixtures to hold the roof on in high winds. Stronger nails or screws to hold joints together. Drywall is more resistant to water. Concrete is stronger. Much higher energy efficiency. Far less leaky.
I remember I sold a house that had major foundation issues. The investors that bought it flipped it in like 3 months. I know they didn't fix the foundation and sold it for 215k more than I sold it to them for. I was relieved to get out that house and into a safe home. I'm guessing they didn't do an inspection cuz it was so bad the front of the house was tilted outwards along with just the entire house bowed in and out at different areas.
@@dinahduke1982 the seller accepts offers with zero contingencies meaning no inspection. They can get sued if they knew the problem existed before. I disclosed it but not sure if they did to the next owner they sold it to. Likely by the time the new owner finds out the statue of limitations are probably up or the seller can argue the foundation issues happened after they sold the house years later
Most important lesson of how online auction works: Do NOT ever buy in online auctions without visiting the property. He better prays that his only loss would be just the $2500 cancellation fee and no more. Auction.com terms & conditions states that the actual damage would be difficult and impractical to calculate and the cancellation fee is only a PRE-ESTIMATE of actual damages which means the actual damage could still be more and he might still be liable for them. When he won the bid, he literally entered into a contract to buy that property; the signing of the contract is only a formality. What he did is breach of contract, when in the situation of breach of contract, the damaged party in this case the seller is well within his/her rights to hold him liable for the potential actual damage that they end up incurring due to his cancellation if they ended up not able to sell the property as much (in this case Kevin will have to pay the difference between the price he paid and the price the seller ended up selling it later) or if they couldn't sell it at all afterward (in that case Kevin will still have to buy the property or fork over the purchase price). He really needs to get less obsessed with "wedges" and focus on properties that has real value.
This may all be true, but I think there is added protection for him in this case, because he can prove that there was a known issue that wasn't disclosed. Part of me thinks he should pay no penalty.
@@CharlesReinmuth Unless Auction.com strictly requires sellers to disclose any known issues for any listings that they post AND that he can prove that these issues that he found were indeed known to the sellers, he might still be liable for the possible damages beyond the $2500 cancellation fee suffered by the sellers due to his breach of contract.
PARTY. CANCELLATION; LIQUIDATED DAMAGES. IF WINNING BUYER BREACHES THESE TERMS, (1) WINNING BUYER’S OFFER MAY BE REJECTED BY AUCTION.COM AND/OR SELLER, (2) THE PROPERTY MAY BE IMMEDIATELY SOLD TO ANOTHER PARTICIPANT OR PLACED IN ANOTHER EVENT, AND (3) WINNING BUYER WILL BE RESPONSIBLE FOR PAYING AUCTION.COM LIQUIDATED DAMAGES IN AN AMOUNT EQUAL TO THE AMOUNT OF THE CANCELLATION FEE SHOWN AT THE TIME OF REGISTRATION. AUCTION.COM IS AUTHORIZED TO CHARGE THE CREDIT CARD PROVIDED BY WINNING BUYER AT REGISTRATION TO SATISFY ALL OR PART OF THE LIQUIDATED DAMAGES OWED BY WINNING BUYER. WINNING BUYER ACKNOWLEDGES THAT THE ACTUAL DAMAGES RESULTING FROM WINNING BUYER’S BREACH OF THESE TERMS WOULD BE DIFFICULT AND IMPRACTICAL TO CALCULATE, AND THAT THE AMOUNT OF THE CANCELLATION FEE IS A REASONABLE PRE-ESTIMATE OF THE RESULTING DAMAGES TO AUCTION.COM AND IS NOT A PENALTY OR FORFEITURE.
Sounds like you created the problem by a series of assumptions, mistakes, and last minute impulse buying. You didnt get screwed as much as you screwed yourself.
@@Kotiara123 leverage is a double-edged sword: great gains possible, but it include great risk. Slow and stead wins the race, and no need to check your holdings 30x a day.
@@jonathanleslie9100 i agree, but it's kind of hard to watch this guy's videos about how he is a multimillionaire at age 27 when you are 10+ years older and haven't even joined the 2 comma club
@@Kotiara123 its actually absurd to think that a multimillionaire it walking through rat-infested tear down POS homes, and mold instead of just sitting on a nice beach in the Caribbean and living off the dividends of some growth and income funds that mirror the dow jones.
@@jonathanleslie9100 that's my plan basically, to live in Thailand or Bali or similar off dividends and capital growth from stock market investments. I am not going to wait until I become a millionaire to do that. I am a simple and frugal guy, so mid-high six figures will be enough for me unless something very bad happens.
I like the honesty of this video! To admit having fucked up is a good sign and the learning effect is good for You but also good for the viewer.
That feel when your bad deals can be made up for by ad revenue from the video about the bad deal.
Living the dream.
my thoughts exactly. it must be so awesome to make so much money on UA-cam.
@lol bad kid 5 months ago he posted a video showing that he made $17,000 a month from UA-cam ads alone. thats definitely a lot for someone with 230k subs.
plus the revenue he makes from selling his real estate courses which he obviously advertises on his UA-cam channel.
UA-cam is his biggest revenue stream by far.
the same is true for Graham Stephan.
ua-cam.com/video/UddvAYsH7nA/v-deo.html
Haha straight facts. I was just about to post this.. than first commentLOK
@lol bad kid zthe subs are not really that important. with good research and a lot of work, you can have millions of views on a new fresh channel with the first vid. the algorythme doesnt look at subs anymore
lol bad kid any business related video makes bank on UA-cam. You can make $50 or more per 1,000 views with these types of videos.
its nice that you also show your mistakes and not only the good moves you make. respect
I bought a house i never saw in person.
In a city I’ve never been to
From a realtor I never met.
Now I’m living in it. LoL
What renovations did you do to make the home yours? On a scale of 1-10, how much do you like your home?
@@Seachange01120 I love my home because it’s debt free. Didn’t do any renovations
@Shuttle_Bug
The ad had a lot of pics. So I had a lot of info thru the pics. The house is small 400sq ft
And new 11y old. Plus I was just going with my gut feeling. I paid more for my daughters used car than I did for my house. If I see a comment I reply. If I don’t I don’t reply.
I think it's a good buy especially if you're downsizing.
Wow I did not expect to see my neighborhood when I started watching this! As soon as I saw the school, I knew exactly which house you were talking about! People are working on it now so I guess someone ended up buying it. That house is a such a blight to an otherwise fantastic neighborhood. We are renters and would love to buy here. But inventory is low and people can get good money selling a house that hasn't been updated since the 60s. We moved here 2 years ago from the east coast and we've been impressed at how nice and Norman Rockwell-ish this neighborhood is. So hopefully one day you can find another house around here. Great video! I'm relieved for you that you got out of that deal!
Not gonna lie, Kevin's style really grew on me. I REALLY appreciate all the knowledge that he shares and how he still feels like someone I can relate to.
I bought my first property at auction. They’re “as-is” and “buyer-beware”.
ALWAYS research them BEFORE bidding. GREAT OPPORTUNITY BUT ALSO GREAT RISK!!!!
RAM Real Estate Investing I’ve bought 7. Last deal was a 1200sf brick for $6k
Rehab Life 7 off the auction? Nice I’ve bought 7 properties myself, 4 this year, but only 1 was off the auction, the rest were MLS or off market deals.
RAM Real Estate Investing 6 were auction ... one I saw on Facebook marketplace and offered 30% of what they were asking. 3 in 2019 my goal is 4 in 2020.
Rehab Life nice! Great work! Love it! It really is like a snow ball effect, once you get rolling you get the confidence and knowledge to do more and more!
RAM Real Estate Investing I buy run down properties and rehab them for rental properties. After the first couple, it became much easier to buy them.
oh man... that's why i think every country should have laws like Japan has. you HAVE to inform the buyer about known issues to the property (and put it in the contract) or you have to fix it with your own money if anything is found in the next 3 months (or a month, i don't remember). as long as the seller is not cheating, he's fine, and the buyer is safe too.
you actually do here in California, I even have to note if someone died in the house within 20 years , but auctions are different as those are completely as is
califdad4 sorry as i am not from the us I don’t really know the laws there. What I meant was in Japan if you find a fault in a house (a one that seller didn’t disclose) during a specific period AFTER you got the house, he has to repair it. Even if the seller didn’t know about it. For example, when I sold my house there I had to fix a leaking pipe under the sink I didn’t notice.
sorry for the several same messages my replies were not showing up like i had done something wrong and canceled . There was a huge lawsuit in the 1970's here in California, some people bought a home near Grass Valley, Ca, ( a nice foothill area about 2000-3000 elevation ) and discovered afterwards that a horrible multi murder had happened in this house several years before. It was in the Courts for several years, and they won, so now you have to disclose everything including deaths within 20 years
But these are as is sales. Buyer can not do anything for any issues found.
Ma Ha facts. Too much room to be ripped off here. Assholes. They fuck you AND take your money.
*Important lesson on reading the "fine print"* 💪🌚
I always know the *bold* *print* is Black Vito ❤
@@syguzman5739 they don't call me *black* Vito for nothing 💪🎭
@@Je.rone_ 🤣❤
This is a decent enlightening post that you have shared and appreciate your work in sharing the data. I value your endeavors and all the best. Praise your work and continue sharing your data.
These are such click baity videos. Kevin does something stupid, implying he's stuck with a bad deal then reveals no deal was ever made.
did you learn something? I sure as hell did
@@Panda_J1 that I can use $2k to make a UA-cam that'll bring me more than $2k, yeah I did
@@FkReplicons So, you completely missed the major points of the video, being 1. don't be in a hurry and 2. read and understand fully the fine print. It's because he did the second he was able to avoid the deal and mitigate his losses. Had he not fully read and understood the fine print, he would have a major loss. So clearly, *you* didn't understand the video. No wedge for you!
@@scotthedrick5736 Soup Natzi says no wedge for you!
@@DamonLeeK Soup Nazi is late on his rent. I own the wedge factory.
Thanks for sharing your experiences! I think it's great that your son is learning in the process too!
It’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a broker, before I started seeing any significant results in my portfolio, been using the same Adviser and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor??
Google Sonya Lee Mitchell and do your own research. She has portfolio management down to a science
I ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.
Auctions are annoying for at least 3 reasons!:
Can’t inspect it
Have “cash” with cashiers checks
They usually get delayed the date
They’re usually really messed up properties
DontSquint Tint I have been able to inspect every property I’ve bought at auction. It’s true you typically need cash, but the deals are there and yes, they typically require at least some moderate work.
why do the banks delay the date?
Max R usually to correct issues in the process that could lead to a reversal of the sale. Incorrect service, advertising, typo in the legal or address etc.
Yep 👍 meant for emotional 😭 buyers and get rich quick wankeeeers
Ten Plus The only thing I get emotional about when I buy property is how much money I can make on it. And while I do make some decisions sight unseen, it’s always at a position that I can make money. I told the guy one time I don’t care about your grandmas house I just care about how much money I can make on it. He wasn’t impressed.
This is starting to feel like a gambling addiction
@guss whu So the buyer discounts his bid, basically includes the fee in his calculations. Maybe some bidder won't, but that is really a noob move. His bid is discounted so the final profit remains what he expects.
guss whu 5% Is so low, here In germany its usually around 7% then 6% taxes and 1% for the notary.
Always inspired by your learning journey man. Gonna remember those tips!
@voitdive what are schmucks? 🤣
Good thing you didn’t sign the contract! $30k would have hurt. This reminds me that I should keep a golf ball in my car when I’m out looking at properties with clients. Foundation issues are by far the worse.
I just use my glass eye. It never fails me.
@@lostintime8651 Hahahaha!
Good stuff Kevin. Learned a few things out of this video. Thank you for sharing it!
“This thing’s got a PHAT wedge in it” - Meet Kevin
Needed a couple wedges underneath the house 😅
Using a Golf ball or marble trick for check foundation, great tip! I need to use that when viewing homes in the future.
We've lived in a house bought at an auction in the 80s when interest rates were at 13%. It has a few flaws but for the most part we live with it. A lot of our friends moved up in house but we paid it off and live debt free.
I bought a house sight unseen in 2010 at auction for $3k. I could tell by the picture (of the outside) that it didn't likely have foundation issues, and I knew it had been on the market for around 50k several years earlier. It ended up being a gut and redo, but it was worth it. My mortgage is only about $55k, although I put a lot of my own money into it as I fixed it up. I figured my worst case scenario I'd only be out 3k.
@@abacab87 you are resourceful, and independent. Good for you. I realized long ago that there is no freedom in following the crowd. My husband & I retired in good shape. Some of my friends in fancy houses are still working.
@@loro9385 smart smart. Gj
Still I hope you refinanced at some point in the thirty years you were paying that high rate! I bought in 1997 and paid it off in 2012. Retirement without a mortgage is great.
@@philipem1000 we had a hard time getting a bank to take us because we owed so little, but we combined the mortgage with a new roof and managed to get it refinanced. I'm so glad we have the security of owning our home at this point. I worry about some of my relatives in their fancy houses now that jobs are no longer secure.
i had a friend. they said he wasn't always right, but he was never in doubt. good luck with your future home runs and hopefully your lumps, bumps, and bruises won't be too severe.
its easy to lift the rooms back into place with jacks and reinforce the foundation. i used to do a lot of these
Just jackalls and floor jack's?
man this guy makes so much money been watching u for over 2 years haven't seen u hlp one person hope u have your goals right on life
It is definitely a shocking learning course! Good thing is you can conduct the post auction inspection. Most of auction don't give you access to the property till the deal closed.
Thousand Oaks homes built in the 1950-1960s are likely to have foundation problems. One of the builders was indicted for laying rebar, getting inspections, moving rebar in the middle of the night, and laying the slab without rebar to save some cash.
This was such a good video
Nice Video! Forgive me for butting in, I am interested in your thoughts. Have you tried - Tarbbatigan Vintage Sales Tip (erm, check it on google should be there)? It is a great one of a kind product for finding government and police auctions for cars trucks and SUVs without the headache. Ive heard some awesome things about it and my m8 at last got astronomical success with it.
@@juanperez-df1mo no
Appreciate Video clip! Forgive me for butting in, I would love your opinion. Have you tried - Tarbbatigan Vintage Sales Tip (probably on Google)? It is a smashing one of a kind guide for finding government and police auctions for cars trucks and SUVs minus the headache. Ive heard some extraordinary things about it and my mate at last got excellent success with it.
Kudos for the Video clip! Sorry for butting in, I would love your thoughts. Have you tried - Tarbbatigan Vintage Sales Tip (search on google)? It is a smashing one off product for finding government and police auctions for cars trucks and SUVs minus the headache. Ive heard some pretty good things about it and my old buddy Taylor at last got excellent results with it.
Appreciate Video! Apologies for the intrusion, I would love your initial thoughts. Have you tried - Tarbbatigan Vintage Sales Tip (do a google search)? It is a great one of a kind product for finding government and police auctions for cars trucks and SUVs without the normal expense. Ive heard some decent things about it and my old buddy Taylor at last got cool results with it.
watched this vid like 3 times already, such a good learning lesson. THANKS KEVIN!!
The only way I'd buy real estate sight unseen is via a tax foreclosure where you pay the outstanding tax bill and get the property. That's just me, I'm sure some people can do okay at times in other circumstances, but it had better be a radical deal like that to induce me put down $500k+ when I've never set foot on the property.
I am just getting started, how do you find tax foreclosures only?
@@anh7807 States have tax foreclosure sales once a year. You have to apply, it's like a lottery drawing. "Winners" are picked on a random basis. If you are picked, they call you (or ask in person if it is a one-day meeting) to see if you want to pay the tax bill. The person foreclosed on has a set amount of time to redeem the property (three years usually). They must pay you your principal and big interest. If they don't redeem, the property is yours. Your security is the property. States vary on the details.
What a learning curve. Keep up the good work!
I was totally expecting a "california stop" through that stop sign
Pull up the baseboards seal the lower wall and put self leveling concrete throughout. Retrim and solid panel doors to fit with new flooring.
Moving forward would your foundation company be willing to provide a search of their records/previous reports on any future properties you might want to purchase?
It would be sorely tempting to leave a sign in the window that says BAD FOUNDATION! NEEDS MAJOR REPAIR! CALL (foundation company) FOR REPORT! Sadly, this would probably get him in trouble with the real estate board and certainly his local group. It would probably reflect badly on the foundation company as well, innocent as they would be.
I wouldn't call waiving your options to inspect, etc. as getting screwed... but I also wouldn't buy a slab site unseen either - least of all in an area where post-tension is the norm.
Minimize the wedge on the downside. Same thing you teach on the investing side just in reverse. You didn't make a mistake, you just taught your same method in a completely different way!
I don’t even know why you’d owe anything if the listing was fraudulent. It stated cosmetic issues only.
I'm addicted to this content. Great video again kev!
Cool to see these kinda video posted so it gives u info on how buying a place works and kinda risk u take when the place is not in best situation as to the minor or major details u gotta fix before u either move in or try fix and resell by chance.
If the house makes it far enough in the process to become an "online auction" on Auction.com I have found that there is always major problems with the property.
yup many of the best real estate deals are taken even before they make the MLS listings, usually by friends, families, and associates of the listing agents. Then the best of the ones that do make the listings are scooped up by serious and experienced investors within a couple of days. Then you got your inexperienced layman fighting over "bottom of the barrel" properties at online auction sites.
I would be afraid to buy any kind of property in California as thousands are leaving each year. It will get hard to sell/rent and get money back. I live in the Dallas area and you can't drive anywhere without seeing at least two or three California license plates
Similarly I was interested in buying a car I've been wanting to own, found an ad went to check it out at night time, what I did wrong was I didn't inspect it well as usualy do when buying a used car, checking it at night time was a terrible idea, Immediately there were red flags but instead of walking away I bought it and was hoping for the best.I ended up paying for it more than it's worth, had plenty problems and needed alot of repairs. I learned my lessons I was being impatient and decided to quickly ,hope is not a good strategy.
Davoin Shower Handle omg the same thing happened to me. Got frustrated and anxious I was gonna lose this deal ass all the other ones I tried to look at were snatched up and I ended up just buying the one I have now without really thinking about it. Now I’m paying for it. :( fuckin Mazda crap. P
great video... you got emotional because there was no time left for the auction, but still managed to win
if the house was good it would be a big win..
This will sound crazy to you. But what if you found someone to lift the whole house up and remove and pour a new foundation under it. I have seen it done. Actually there is a guy in my home town that just did this. Dug and poured a new basement and just had the house moved over on the same property.
The last seconds of video talking about 2500 terms risk insurance was the most important info ive heard in a long time. Good shit zezima
Getting screwed is probably the least of your worries when wearing a hat like that.
Lmaoooooo 😆 🤣 😂 😹 😆
Thank you for this! I won a property and have discovered a brand new lien that was not disclosed because it was just filed by the mortgage company that bought it at a sheriff's sale auction not long ago. Would have been on the hook for $48,000 from a second mortgage that was taken out. BUT I haven't signed the purchase agreement yet! Yay! I am walking away!!
I’ve never purchased a property at an auction before. It could be hit or miss.
Which is why you investigate before you buy; the risk is mitigated if you know how to limit it.
500k is a lot to risk. For that much, you can get a super nice house in my area.
This was really good learning. Thank you for the helpful about online auction and the later effects. Thank you for sharing.
Two words. "Full Disclosure" If this property was know with foundation problems, and the auction house did NOT disclose the problems, they can be held liable.
You should be able to back out of the deal losing nothing. If it was disclosed, then the screw up was yours.
Auction properties are as is, buyer assumes responsibility to repair the house to code. Been through this 3 times with condemned property.
Not according to most state's laws. There are several categories of properties exempted from disclosure -- e.g., estates, props given to charity, props transferred between investors, props traded for non-real estate items of equivalent value, etc. etc. Even if the foundation LOOKED hinky, it's not legally KNOWN to be hinky (and thus subject to disclosure) until evaluated by a professional -- here, a builder or structural engineer. The seller just didn't do that -- it's not in his interest to find out bad news, because then there's an official record of it, he gets entered into some county or state database, and he's on the hook to remediate come sale time. In same vein, there's a difference between spotting what somebody THINKS MIGHT BE mold, and "KNOWING" -- in a legal sense -- about the presence of mold in the house. If you never test it and confirm, technically you don't have to disclose -- it's up for Buyer to do so as part of his Due Diligence. Of course, the terms of online auctions usually make a real attempt at DD impossible -- at best Buyer is limited to peeking through windows prior to purchase. This difference between knowing and KNOWING isn't just a dodge. I once had a home inspector warn a potential buyer about "apparent green mold" on a counter in my garage -- which I *knew* was in fact green paint, since I'd spilled it there! But the timid, cash-strapped first-time buyer, scared by several other inaccurate "findings" in the home insp report, backed out anyway.
The legal fees would exceed the cancellation fee anyway so it’s a moot point.
I would bet they are all listed as "as is"....
He would have to prove that the Seller knew about the foundation inspection report. The previous homeowner probably knew, but that does not mean they told the bank, which in turn would have disclosed that to the auction house.
Thanks Kevin, great stuff. I'm just doing my homework.
Another aspect of the online auctions -- at least for me -- is that I have had the seller or auction house (I do not recall which) bid against me because "I had not bid up to the reserve amount". While I understand that I was not going to "win" with my bid as it stood, I have to wonder if they also bid even afterwards -- just to up the price.
that was surely one of your most intense videos. Thank you for all the great content kevin you have taught me alot
this auction sites should add a virtual reality view of the houses
Especially now because of COVID
Credit where credit is due, you spotted that foundation issue immediately. A lot of people would only figure it out three weeks later when they own the property lock, stock, and barrel. Recovering from mistakes is the key to success.
I bought a house on auction.com in another state I was living in. I waited till the very last to bid. When I clicked the bid it said I won.Made a lot of money off the house in less then a year
Sawmiller Smith nice!
@@SteveRam my bid was 5000 dollars. I made videos of the house and the work i did on it.
Sawmiller Smith very cool! I bought my first flip at auction too. Snagged it for $35k and sold it later for $80k
@@SteveRam I bought the house for 5000 and sold it for 77,500 in less then 6 months.
@@SawmillerSmith Kevin would be proud of that wedge :)
Great video, love these videos. Thank you.🙂
I know there's no quick and fast way to fix house's with cracked foundations, my Exwife has a house that has foundation problems and she called Perma Jack and they put these pipes in the ground and jacked the foundation up. I'm thinking since your in construction also maybe there's a way to revolutionize a new faster way to fix foundations? If it's not a wood floor house you can't jack it up and put steel beams under it. Maybe if a house has a slab with nine foot ceilings you can lay rebar down on excisting slab and pour new cement and then have 8 foot ceilings?🤔
Been binging your real estate videos the last few days (first catching your awesome self employed PPP/EIDL/etc vid 🙏🙏), this is my favorite one next to the mortgage crisis one from April 12th.
Thanks for making these vids for us @meetkevin, learning so much
Kevin, you’re giving your son the “rich dad” education 👍
Joseph Du yes he is and it’s early in his childhood too
I’m trying to reach my god kids on the subject of financial education and it’s so hard. So they gotta make the big financial mistakes first and then they get what I’m saying.
Good analysis. Always analyze how much you can lose before you sign and evaluate the property for foundation issues. Makes me wonder is this property was in the same issue or was it the same builder or time period where they had foundation issues. Wish you would tell what property it is since it will go back on the auction block with no one being the wiser. I guess look out for properties from lawyers cause there might not be a full disclosure.
I hope in the future they do allow those that bid a period of time to inspect the property. It's going to be 2020. Too much people pass of really damaged property. December seems to be when you can dump your money pit of a property, and people think it's a deal. I learn so much from you I need your course.
Conclusion: What for a simple person is a problem, for a blogger is an opportunity to create good content 😂😂
Or an entire mini series. And monetize ;)
@@redpillscience958 yes, but these series of videos are a huge opportunity for us to learn from the other's mistakes. And all of that for free!
@@siminitchi Agreed. It's great stuff. That's why I watch all of the time ;)
That $2500 is a business write off.
He is a Vlogger.
Slab on grade has plumbing both waste and supply. Besides the cost of correcting the foundation is the cost if the plumbing is ruined.
I know of some online auctions, that if the high bidder backs out forANY reason, they are banned for life. Does this one have the same rule?
havent seen that on my county website
awesome lesson, always protect your downside risk.
Might be confused between "wedge deal" and "wedgie." They are different.
Sylvan Butler omg lol
LOL. Well this time Kevin got the wedgie, but only a modified low level wedgie. And doing what he does it's inevitable that once in a while a deal turns into a loser. He made the right risk. I'd argue that while he didn't get his hoped for $125K profit he made an intelligent choice, and after the tax deduction and the revenue from the video it's maybe a break even for him. Even if it's a loss, at his scale of operation it's inconsequential.
I knew of one guy who did not even view the house from the outside. He won the auction and collected the keys. He was dumbfounded that the entire roof was missing.
🤣🤣
New title suggestion. "Another real estate flipper moans about having to do real work and not just put lipstick on a pig and flip it". Boo hoo.
There may be something in between fixing a foundation for 90k and doing nothing.. You only want to write your jealousy/anger away on a random video without paying attention to the actual details in the particular video.
He isn’t a flipper. He is a landlord. He buys and holds property!
A Berryman he rents them out lol
@A Berryman Flippers buy houses to resell, the exact meaning of "flip" in trading terms. Cleaning it up isn't flipping, reselling it is flipping it. Kevin doesn't flip. He doesn't buy to live in a house either. He buys a house to make money by renting it out.
And he wasn't moaning either. He was explaining how he mitigated his risk.
Where I live in Columbia SC, most of the older homes have settling and get a floor like this. Investors/homeowners rarely get them fixed.
Yeah, why would renters care?! They could rent it for cheaper than other houses in the area, and the owner could still make a better ROI without fixing it (unless neglect makes the house go further down in value).
Kevin I think the fact that neighbours don't have a foundation issue is good in the long run.
It means the ground is solid which is the most important when doing foundations.
Having all of your documents in a Google Drive is very smart. It’s the same documents each time so you can have the updated documents ready when you’re putting in offers. Brokers really appreciate you having everything ready so that they’re not processing everything piece by piece; they can focus on you until you’re done.
Non-disclosure of something known that serious is ground for a lawsuit.
Shows how little you know.
It’s buyer beware
foundation work is really easy to diy. it doesnt cost much to do. the hardest part is just digging.
Subs growing nicely kev, not surprised, You have to best content for NEWS THAT MAKES YOU MONEY. Keep it up MeetKevin
Last time I put money into an online auction without a preview, it was a trumpet that looked great, but was beat up worse than what Holm did to Rousey. I have it mounted and hanging on my office wall as a constant reminder--preparation meeting opportunity is how you define luck; and this kind of luck finds winning deals.
Nice point
All your videos recently sound like you're walking into one tragedy after the next. It's like watching soaps. Haha
Inventory is tight right now. Cheap properties are that way for very good reasons!
If you can't inspect the house, assume the worst. And if you can't see the house, don't even assume it's standing.
Me: buying TV from Best Buy on Black Friday and went to store twice to check the TV
Kevin: buy a half million house online in one hour.
making sure theres no “yeah, but”’s is crucial. Great way to remember somethings that could be the reason the property seems under market value, but really theres a yeah but, they have to back up right on a busy street.
USERNAME: Grant IGotFish
PASSWORD: Cardone
LOL!!
😂😂😂😂😂😂😂😂
Meaning he’s working for grant cardone?
@@robp.7732 Nah Grant is a scammer
New Years Day 2022, you def had it right. everything went up with housing costs in 2020
This video cost Kevin 2.5k... hope you have a good ROI!
I don’t necessarily have a problem with additions to a home. If done right it can substantially increase resale. For example an add on family room.
The Fish Store lmaoooo...shady Kev. Love it
Congrats on a million. You deserve it
Grant Cardone would be proud of you.
Certainly. He bought his book
Kevin, you are one of my favorite you tubers. Thanks for your value.
SOMETIMES 1960S HOUSES BUILT BETTER THAN TODAYS HOUSES.
GET OFF MY LAWN!!!
and most of the time they were built just as badly
Rarely
Most homes today are built to a much more stringent building code and with better materials and technology. Straight and plumb walls for example. Stronger structural members. Steel fixtures to hold the roof on in high winds. Stronger nails or screws to hold joints together. Drywall is more resistant to water. Concrete is stronger. Much higher energy efficiency. Far less leaky.
I remember I sold a house that had major foundation issues. The investors that bought it flipped it in like 3 months. I know they didn't fix the foundation and sold it for 215k more than I sold it to them for. I was relieved to get out that house and into a safe home. I'm guessing they didn't do an inspection cuz it was so bad the front of the house was tilted outwards along with just the entire house bowed in and out at different areas.
@smokestrong1000
Interesting. How were they able to sell without a thorough inspection? Wouldnt that have failed? Guessing they pulled some strings?
@@dinahduke1982 the seller accepts offers with zero contingencies meaning no inspection. They can get sued if they knew the problem existed before. I disclosed it but not sure if they did to the next owner they sold it to. Likely by the time the new owner finds out the statue of limitations are probably up or the seller can argue the foundation issues happened after they sold the house years later
Most important lesson of how online auction works: Do NOT ever buy in online auctions without visiting the property. He better prays that his only loss would be just the $2500 cancellation fee and no more. Auction.com terms & conditions states that the actual damage would be difficult and impractical to calculate and the cancellation fee is only a PRE-ESTIMATE of actual damages which means the actual damage could still be more and he might still be liable for them. When he won the bid, he literally entered into a contract to buy that property; the signing of the contract is only a formality. What he did is breach of contract, when in the situation of breach of contract, the damaged party in this case the seller is well within his/her rights to hold him liable for the potential actual damage that they end up incurring due to his cancellation if they ended up not able to sell the property as much (in this case Kevin will have to pay the difference between the price he paid and the price the seller ended up selling it later) or if they couldn't sell it at all afterward (in that case Kevin will still have to buy the property or fork over the purchase price). He really needs to get less obsessed with "wedges" and focus on properties that has real value.
This may all be true, but I think there is added protection for him in this case, because he can prove that there was a known issue that wasn't disclosed. Part of me thinks he should pay no penalty.
@@CharlesReinmuth Unless Auction.com strictly requires sellers to disclose any known issues for any listings that they post AND that he can prove that these issues that he found were indeed known to the sellers, he might still be liable for the possible damages beyond the $2500 cancellation fee suffered by the sellers due to his breach of contract.
PARTY.
CANCELLATION; LIQUIDATED DAMAGES. IF WINNING BUYER BREACHES THESE TERMS, (1) WINNING BUYER’S OFFER MAY BE REJECTED BY AUCTION.COM AND/OR SELLER, (2) THE PROPERTY MAY BE IMMEDIATELY SOLD TO ANOTHER PARTICIPANT OR PLACED IN ANOTHER EVENT, AND (3) WINNING BUYER WILL BE RESPONSIBLE FOR PAYING AUCTION.COM LIQUIDATED DAMAGES IN AN AMOUNT EQUAL TO THE AMOUNT OF THE CANCELLATION FEE SHOWN AT THE TIME OF REGISTRATION.
AUCTION.COM IS AUTHORIZED TO CHARGE THE CREDIT CARD PROVIDED BY WINNING BUYER AT REGISTRATION TO SATISFY ALL OR PART OF THE LIQUIDATED DAMAGES OWED BY WINNING BUYER. WINNING BUYER ACKNOWLEDGES THAT THE ACTUAL DAMAGES RESULTING FROM WINNING BUYER’S BREACH OF THESE TERMS WOULD BE DIFFICULT AND IMPRACTICAL TO CALCULATE, AND THAT THE AMOUNT OF THE CANCELLATION FEE IS A REASONABLE PRE-ESTIMATE OF THE RESULTING DAMAGES TO AUCTION.COM AND IS NOT A PENALTY OR FORFEITURE.
The whole saying mentioned it is 2500 dollars
Dude these case study flip deals are great! Keep up the good work!
Hi my name is kevin, i'm over 6 million $ in debt and own 30 useless properties that are sinking into the ground.
definitely not. he makes minimum 25K a month off youtube and cash flows all his properties.. oh yeah and he also sells real estate ...
Your videos are truly educating man. Haven't tried the auction website yet, you provided good websites! Now, I use Zumbly and Realtor.
OMG. At first I though he had two white ghosts in the car with him at :55
L W 🤣🤣🤣 went back after I saw this and was cracking up
ROFL!!! :D
Great video. Thanks. Always learning from your content.
Sounds like you created the problem by a series of assumptions, mistakes, and last minute impulse buying. You didnt get screwed as much as you screwed yourself.
Bro this is the 1st time I watched one of your videos. Great story telling
here's a simple rule for investments: You don't have to mow stocks.
ive been following this rule and have done alright so far. the problem is I have never used leverage, so my returns have been modest
@@Kotiara123 leverage is a double-edged sword: great gains possible, but it include great risk. Slow and stead wins the race, and no need to check your holdings 30x a day.
@@jonathanleslie9100 i agree, but it's kind of hard to watch this guy's videos about how he is a multimillionaire at age 27 when you are 10+ years older and haven't even joined the 2 comma club
@@Kotiara123 its actually absurd to think that a multimillionaire it walking through rat-infested tear down POS homes, and mold instead of just sitting on a nice beach in the Caribbean and living off the dividends of some growth and income funds that mirror the dow jones.
@@jonathanleslie9100 that's my plan basically, to live in Thailand or Bali or similar off dividends and capital growth from stock market investments. I am not going to wait until I become a millionaire to do that. I am a simple and frugal guy, so mid-high six figures will be enough for me unless something very bad happens.
Love the content...
Great case studies! Keep up the great content.
Hmmmm ben mallah makes online auctions work
But the emotion affecting you during a bid is intense. This makes it worse.
This video should have more views . A very important lesson was learn today. 💡