Top 5 Amateur Investor Mistakes to Avoid When Buying Your First Duplex, Triplex, or Fourplex!
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- Опубліковано 8 чер 2024
- We've worked with hundreds of real estate investors over the last 20 years. Here are the top 5 amateur and costly mistakes we've seen people make. Make sure to avoid these mistakes so you can actually build wealth through real estate investing!
0:00 - Intro
0:45 - Waiting for Prices to Drop
5:36 - Not Being Pre-Qualified or Pre-Approved to Buy
7:29 - Not Knowing Your Intention for the Property You're Buying
12:00 - Not Being Focused on an Area or Property Type
15:10 - Analyzing Too Much and Failing to Take Action
16:55 - Fear of a Possible Economic Recession
17:48 - Fear of Rising Mortgage Interest Rates
20:32 - Is Renting Cheaper Than Owning Real Estate?
21:22 - Analyzing Financials for the Wrong Reasons
22:40 - Waiting for the Next Housing Bubble or Real Estate Market Crash
23:30 - Do You Lose Your Property When You Miss a Payment?
24:54 - Fear of Property Value Decreases
26:19 - Conclusion
#realestateinvesting
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Juan is a Licensed California Real Estate Broker that has acquired his Certified Commercial Investment Member (CCIM) designation and a Real Estate Investor who is dedicated to helping people build wealth and financial independence through real estate investing.
Juan specializes in selling multifamily apartment units as well as residential properties. He prides himself in locating value-added properties that maximize the client’s investment yields. Juan is a detail-oriented entrepreneur.
Today he handles everything from finding, funding, designing, managing, and selling investment properties. His diverse experience in commercial and multifamily real estate allows him to develop and navigate a wide range of projects.
BRE 01417642
www.SageREGroup.com
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The perfect video for me at the perfect time. I felt seen when you mentioned the metrics not being the only thing to consider when owner occupying and being hard to calculate for a duplex. Glad to know I'm not necessarily failing bc Im not cashflowing enough. Quality of life matters but can't wait to move out the prop and put the whole thing on the market and use the duplex as an asset with training wheels for my future quadplex
Makes us happy to hear this video helped with your investment journey.
Blessed I came across your channel!! As I’m going through this journey, Im finding it possible to do this. Ill be a first time home buyer along with my significant other. We want buy a multi family home. We plan to live in one to start off since we will be first time home buyers, and be landlords. In the future have a few units and retire early. Wish you guys where in Colorado!! I’m doing my homework.
One of my favorite videos from You Juan! thank you again for today's seminar very wisely spend time with your acknowledge, defenetly opened my point of view to possibilities for future investments when the opportunity arrive.
Marlon, super glad to have met you. I'm glad that you were able to attend today seminar. I look forward to helping you in your investment journey.
I was getting frustrated trying to figure out the route I needed to take when trying to buy a duplex. This helps me to understand the results long term vs what I would be getting at the moment. Great video.
We wish you the very best in your investment career. Reach out to us with any question or to be referred to one of our nationwide affiliates.
Taking notes 📝
can you guy s make a video on payment vs rent vs amount financed. for example.for a 4plex. what shoudl be the payment vs the rent in total..to survive in simple words please.
Thinking of buying our first fourlex in Houston area. The property is already occupied. What not to do and what to do ?
What are the 6 investment metrics?
I have a question and need your help. Briefly- I have an opportunity to purchase my neighbor’s duplex (in upstate NY, outside Buffalo). I currently own two other duplexes on my street. One was purchased in 1999 (and I’ve lived in one unit ever since), and the other in 2005. The housing market is taking a downturn after record high increased values in the last 2 years, and we’re in a recession. Some say the decline will last for a decade, longer than any previous decline including 2008. My concern is not really a decrease in property value after purchasing the next duplex this year. My concern is a possible decline in rental rates due to an economic/housing decline, after I base my analysis on current rental rates and purchase the next duplex.
Thank you for your help ☺️
I have a question for you please, if i buy a duplex and each unit rents for $750/ month and monthly mortgage payment is 1500$ per month, is that considered a good investment?
Hello Maha,
Please tell us what area you're looking at. A few questions that come to mind. What do other similar properties sell for? What's the price range? What's the interest rate you're being quoted? What has the rental market down in the last 10 years? Our rental rates up how are vacancy rates? In terms of appreciation how has your area performed in the past.
Do you guys offer property management?
Hi Michael we do not offer property management. We can recommend 3 to 4 companies we know, like and trust in the city of Long Beach.
I'm seeing homes in my area drop 25-30k in multiple cases just the past few weeks
Hi Mark,
A lot of homes were simply overpriced and as the market cools Sellers need to bring their prices down to realistic levels. Inventory is still significantly low but still a great time for a Buyer to enter the market.
what if what I know its an expensive area?
Hello Billy I'm not sure what area you're referring to. But expensive areas typically appreciate more. Vacancy is less, the rental absorption rate is quicker.
Also, in most cases there are less expensive areas nearby that you might still know fairly well due to proximity.
Waiting for prices to go down lol
my father is 75 and hes never seen it happen.
True !
25:00 "Tenants don't stop paying rent." Come on guys, you're based in California, are you really going to gloss over the fact that California has some of the worst eviction laws for landlords? Everyone I know who owns investment properties in California has a story about loosing money on bad renters. Sure it doesn't justify never investing in real estate, but it's a legit concern that you should cover. Especially, in California that needs to be covered.