The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
For Those Who Are In A Rush: 1.) Not knowing the numbers 2.) Too much debt (Borrowing too much money) 3.) Short term loan/arm 4.) Picking a bad tenant 5.) Overpaying for a property 6.) Not having reserves You're Welcome! :)
0:51 LOL. To me, this is complaining! I hate it when things are more expensive that I can't justify investing on it. I still push through it hoping that I'm wrong and make money, then end up losing.
I just bought my first rental property at 20 years old, I have been on the hunt and preparation for a long time and your videos really helped me throughout the process to not make any stupid mistakes like you mentioned, keep up the great videos because you definitely have a long time viewer now
Tonythetiger86 Have clauses in the contract based off the price you would pro-rate your rental. Every day it’s late = x amount of dollars. Wal-mart does this with every new construction & charges the GC $50,000 for every single day the project is late.
@@baileymaloney1961 when contractors promise things it is often based off of how long it takes if nothing goes wrong, when dealing with houses, even worse old houses, its almost impossible to tell what's going to go wrong. good luck getting any good contractor to sign that on a house that needs a lot of work.
Wish you were around 6 years ago when I bought my 1st rental. I had no knowledge no help I struggled for the 3 years. But I learned from my mistakes so it's all good now. Still learning thank you for all your content.
Ive had couple of bad tenants. My method was to annoy them back: Give them notice of rent hike, as per legal agreement. Do in-house inspection, thoroughly. Every month. Give them eviction notice, even if, the rent is late by 2 days. After the rent is paid the notice is invalid so i tell them they don't worry about this notice cause they will pay in 2 days anyways. 🙂 (These multiple eviction notices are your evidence that the tenant was giving you issues). Replace any necessary item with most oldest used item i can find on craigslist, so it fulfills the legal requirement but they won't like it. Take LOTS of pictures of any scratch i find new. After they ran away i renovated the place and sold it. Still made profit. Just my 2 cents. 👍
When living abroad, I always used a very inconvenient exchange rate to calculate my budget. Ended coming back with about 17% of my initial savings, which was quite a lot
Hey Graham, I would love to see a video on renting out rooms in a house while living in the house? What are the pros and cons, and is it true that one big benefit is no laws protect them and you can kick them out next day if you really wanted too, without anything protecting the tenant. What is your perspective on this or how familiar are you on this field?
No, you cannot simply kick them out. You still have to go through an eviction process. Check your local state laws for specifics. I have done this and know someone who does. Works well as long as you don't mind strangers as roomates😊.
I'm 21 and looking into buying the home across the street from my parents. Not even on the market yet and below markey value. Definitely a fixer upper, but the idea is I live there for a year or two and fix it up, then rent it out to pay my mortgage and make alittle profit each month. Love your videos.
It's more so a miscalculation of price than it being the wrong property. At a certain price, everything becomes a good deal. It's about understanding values and offering a price where there's enough upside to make money.
Video Idea: How to determine how much a property you are planning on buying will cost you to renovate. What to look for….how to research cost. That sort of thing. How long it takes to evaluate the cost of renovation and when do you decide to try to figure that out before you buy the property.
When I first got interested in your videos, it was when I was trying to learn about and research how stocks work. I didn’t know anyone that was trustable and everyone in every UA-cam video that I watched just seemed like they were lying, or trying to catfish you into buying “their new book” on how to make a million dollars every minute with 1 easy free step. After watching your videos for a very long time though, I am happy the “UA-cam algorithm” actually worked for once and pointed me in your direction. You seem like a genuine person to be receiving this type of information from, unlike the majority of other people out there who might not know what they are talking about. Keep up the good work Graham 👍
My tenant screening criteria: 1. Must have at least 750 credit score 2. Must have no eviction record in the past 3. Must have a stable job and not a job hopper 4. Must call up to 3 past landlords for reference 5. Must have no criminal record
Haven't completed the video, but as you are from CA, it's amazing to see what people pay for rent and how much owners paid for the property and the amount they put in vs. what they resold the property just a few years later. Not saying to '"speculate/gamble", but I've seen some opportunities for new or resale, you jump on it and buy it or kick yourself later for not purchasing it. Excellent video and a very down to earth engagement.
I tried posting this yesterday, but UA-cam never sent out notifications for some reason and it never appeared on the sub feed. So I had to re-post. Figured I'd test out what a Saturday morning does!
I was looking for his video yesterday and never found it, then went to Stradman’s channel and who do I see there??? Mr. Stephan!! I think he lost track of time watching UA-cam videos lol
Hello Graham, do you recommend saving up for all these setbacks first before putting money aside for investing? Thanks For example, should the correct order be: 1) emergency fund; 2) save up a reserve for some of these mistakes; 3) money for a down payment on a house; 4) then investing in other areas, like funds edit: liked the video, smashed the button
You’ve made a lot of valid points that me, myself has made. I find that my HELOC is very helpful. But, I have a couple free and clear properties so makes it easy. Good advice. Thanks
Whoa. I just realized that you can get a fixed rate over 30 years. In Canada, the longest fixed term I've ever seen is 10, and the rate is usually really high.
Graham, 2 questions. 1) Can you (if you have not already) go over your style for running pre buy numbers? 2) Can you tell us how you do background checks/screenings on new tenants. Once again, if you have not already, you have a lot of good videos, and I might not have found the answers in the ones I watched so far.
9:57 Two years to evict! The property owner must have gone through hell on a daily basis! I don't think I would ever learn to trust anybody after that 🚫 I'm so sorry to hear about your peer having experienced this!
Wrong wrong wrong... your future off spring will thank you. Buy that chit and invest in your great great great great great great great great great great grandkids future. Way not to care about the kids... un subin🤬
I haven't used hulu in a week cause this show. You're very real about money. I love it. Always smash the like button. I've been a stock investor since I turned 18. Now 21. My sisters keeps talking about real estate wholesaling and idk what wholesaling real estate exactly is or how to do it. Is it even worth it.
Someone told me right now wouldnt be a good time to buy a property and the best time will be around march next year because interest rates are going up. Is this true?
I love the pics of Tai as you spoke about renting tenants😂 Love the advise he gives and can definitely understand the “marketing strategy” behind having such an expensive house, cars and of course book shelves in the garage but most people don’t know that he actually rents that property (which obviously you have figured out). Awesome video, great to learn not only how to do something but how not so you have a broad idea of different possible scenarios both good and bad.
Thanks so much! And i totally agree with Tai Lopez's marketing strategy...it's honestly about as effective as it gets, and it's all done strategically. For results, everything he has works wonders!
Thanks for your time in creating this particular video to help investors like me to experience the worst without actually being a victim of such incidents.
So we have been landlords for years. In multiple states. We don't buy homes that are in need of renovation, unless it is a house we are actually going to live in while we renovate over a few years. Instead of using listing agents (Real Estate Agents) we have a property manager who handles ALL the issues that pop up. Our management company charges us 7% per month and 1/2 the first months rent per year. However for that we also have full access to their attorney for evictions and other related issues. We have home warranties on our properties that saves us on repairs of all kinds. We are very selective of WHERE we buy. Properties on the wrong side of the tracks may look great because they are cheap but you're not going to get the quality tenants you need.
If I want to open a Roth IRA should I contribute checks I get from my job or from my self employment ? What looks better and brings back more or is it the same?
My family can live without a yard for a few years if we are getting paid to live in our house. Get a fourplex, rent out the other three units and live in the fourth one.
I got an ARM on my first investment property. They can be good options because they offer lower interest rates and as long as you refi with in the set period you are all good.
I've heard a variable interest rate is better because you will get a lower interest rate at the beginning when you owe a lot of money on the property, so you pay less in interest. The rate will increase over time, but the amount owed on the property will decrease, so less will be paid on interest. It depends on the market, but generally variable interest rates can be good if you think the interest rates will stay roughly the same over time.
Could you elaborate or link what you mean by the tenant offering rent? I live in Oklahoma and everywhere I’ve lived and all of my family’s rentals have a set rent. How would you go about asking for $X of rent OBO.
Graham, hands down you are the best out when it comes to investing, just to many commercials plugs, I know you did a review on roofstock, but dont they prevent most of what you mention in this video?
would it be a good idea to negotiate a lower rent in exchange for good behavior? meaning that if they don’t become a nuisance that first year they get a discount onwards.
_ Too many variables to know who's good or not. Even a stellar tenant, with years of early payments under his belt, could stop paying, and refuse to leave. _
My first building I gave half rent off for Christmas for paying on time, Now I just take off 100 bucks .. Note, this does not change there behavior...lol
_ Re: @@Postofficejoe's failed efforts. Technology&Globalization are displacing workers, causing homelessness. In Seattle, I feel the charity from Bill Gates and Jeff Bezos trying to ease this (ShortTerm) problem. _
Had the same issue, bought a house cash..posted to rent, got slammed with calls (over 72 in 3 days) and like a dork i rented it to a couple paying 6 months ahead just to get it. Called some of the references etc and basically should've done a better job to filter out the tenant. Cost me months of rent and damages done to the property. Lesson learned!!!
Frenchy Alicea I have 7 rentals. It took me a while to get them under control but now my rule is this. No Drama, if there is a big sob story or drama why they left the last one one, forget them! Go for good credit, good income, and nothing bad in background check and don’t waiver. It is better empty than renting to a bad renter. Only took me 10 years to learn this lol.
Great video Graham thanks. Luckily for me I work for a big rental property company in Canada named Boardwalk. I have experienced bad tenants, evictions and all that fun stuff. You are right by saying it's worth more to take less money and have a good tenants then rent it out for more and have a bad tenant. As far as the reno costs, thankfully I have the knowledge, skills set, and tools to do everything myself. Se we are able to save by doing all that our self.
I had a 5/5 ARM on a property @ 3% because the credit union paid the closing costs. Then when 5 years came and the rate was going to adjust higher I paid off the loan from the sale of another house that was a poor rental. If you have enough money to pay cash for the property an ARM can be useful. For most people I would recommend not having more than one rental at a time to prevent over-leveraging.
Can you please do a video in where you explain, when you buy several properties how do you save money when you file taxes...this is my worst fear. I have some money and would like to invest in a few rental properties but I feel the IRS will take a lot of my rent when I file taxes...is this true ?..hope this topic interest you..thanks for all your videos :)
I love your videos they’re so informative I’m taking note of all of it I plan to become what you have but instead of retiring I plan to just look for more outlets to become as productive as possible with the money that I gain from these endeavors keep up the good work
My main questions are how do you know, without experience (aka first time) , how much money you'll need for renovation, repairs, etc. and how to figure out the market, how to do the numbers right. this kind of stuff. I'm just researching right now to hopefully get into this in a few years (or sooner) depending on when I can get enough money for a good 20% down payment on a good first property.
REITs are a good way to invest in realestate. Main pays monthly dividends and i reinvest the dividends. No maintenance, mortgage pmts, no evictions no headaches. What say ye?
Real estate investment losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
To achieve greatness, you need to start working with a Financial Adviser Investing remains the smartest way to prepare for the future.
To achieve greatness, you need to start working with a Financial Adviser Investing remains the smartest way to prepare for the future.
how do I get in touch with the adviser i really need a help.
I'm also interested have lost a lot of money all myself..
For Those Who Are In A Rush:
1.) Not knowing the numbers
2.) Too much debt (Borrowing too much money)
3.) Short term loan/arm
4.) Picking a bad tenant
5.) Overpaying for a property
6.) Not having reserves
You're Welcome! :)
Thanks!
7) Subscribe to PewDiePie
@@GrahamStephan 😈make a deal with a devil 😈 😂✌
0:51 LOL. To me, this is complaining! I hate it when things are more expensive that I can't justify investing on it. I still push through it hoping that I'm wrong and make money, then end up losing.
Description tho
I have 23 years of real estate experience as a landlord and contractor and I approve of this video!
THANKS!!
O ya? What state are you in, want to build me a house? How much per sq foot?)
@@jajupa78 ohio, single family homes about $175 a foot now
@@marksoberay2318 help
@@da14a49 what do u need help with?
I bought a home in San Francisco when I was 27 for 475k now it’s worth 1.8m! Location is everything
That’s amazing!!
Awesome brother
How long ago was that?
@Rodimus Prime na just likely 10 yrs ago when housing crash.
Nice
I just bought my first rental property at 20 years old, I have been on the hunt and preparation for a long time and your videos really helped me throughout the process to not make any stupid mistakes like you mentioned, keep up the great videos because you definitely have a long time viewer now
Ah thanks man!!! Congrats on your first rental that’s awesome!
Any updates? Love to know how its going now
Broken.Bimmer lol same
Looking back on this, the whole "interest rates will never be this low" thing didn't age so well...
Forgot to mention remodeling takes 25% longer than contractors promised.
YES!! Very very true.
Yep
True statement!
Tonythetiger86 Have clauses in the contract based off the price you would pro-rate your rental. Every day it’s late = x amount of dollars. Wal-mart does this with every new construction & charges the GC $50,000 for every single day the project is late.
@@baileymaloney1961 when contractors promise things it is often based off of how long it takes if nothing goes wrong, when dealing with houses, even worse old houses, its almost impossible to tell what's going to go wrong. good luck getting any good contractor to sign that on a house that needs a lot of work.
Make a video about LLC’s in real estate
I might mention this in a future video, we'll see
@@GrahamStephan I would like to see that
Multiple people would like to see that. Pros/cons
Do it please. I'm ready.,. Thanks😀
do this please!!!!
Wish you were around 6 years ago when I bought my 1st rental. I had no knowledge no help I struggled for the 3 years. But I learned from my mistakes so it's all good now. Still learning thank you for all your content.
Thanks so much for watching! Yeah, the first one is ALWAYS a learning experience, no matter how much you prepare.
As it is said, experience is the best teacher
Ive had couple of bad tenants. My method was to annoy them back:
Give them notice of rent hike, as per legal agreement.
Do in-house inspection, thoroughly. Every month.
Give them eviction notice, even if, the rent is late by 2 days. After the rent is paid the notice is invalid so i tell them they don't worry about this notice cause they will pay in 2 days anyways. 🙂
(These multiple eviction notices are your evidence that the tenant was giving you issues).
Replace any necessary item with most oldest used item i can find on craigslist, so it fulfills the legal requirement but they won't like it.
Take LOTS of pictures of any scratch i find new.
After they ran away i renovated the place and sold it. Still made profit.
Just my 2 cents. 👍
Real American hero. Depending on the state real estate investing can be a legal nightmare.
when i do spread sheet i add 10% of expense just for the sake of add it for no reason lol! while I already over estimate the cost of everything.
When living abroad, I always used a very inconvenient exchange rate to calculate my budget. Ended coming back with about 17% of my initial savings, which was quite a lot
Graham, what is the best way to calculate projected rental income for a potential property? Thank you. Love your videos on all the topics you cover.
Did he ever make a video on this
Hey Graham, I would love to see a video on renting out rooms in a house while living in the house? What are the pros and cons, and is it true that one big benefit is no laws protect them and you can kick them out next day if you really wanted too, without anything protecting the tenant. What is your perspective on this or how familiar are you on this field?
No, you cannot simply kick them out. You still have to go through an eviction process. Check your local state laws for specifics. I have done this and know someone who does. Works well as long as you don't mind strangers as roomates😊.
Great video Graham!!!
Hey thanks so much man, hope all is well!
I'm 21 and looking into buying the home across the street from my parents. Not even on the market yet and below markey value. Definitely a fixer upper, but the idea is I live there for a year or two and fix it up, then rent it out to pay my mortgage and make alittle profit each month. Love your videos.
Love Graham’s videos. Detailed but concise and he takes the time to write out the summary in the description!! It really helps!!
Thank you so much!
How does one choose the worst property to buy out of all of them? What should the property feature to be a very bad idea? Next video perhaps?
It's more so a miscalculation of price than it being the wrong property. At a certain price, everything becomes a good deal. It's about understanding values and offering a price where there's enough upside to make money.
Video Idea: How to determine how much a property you are planning on buying will cost you to renovate. What to look for….how to research cost. That sort of thing. How long it takes to evaluate the cost of renovation and when do you decide to try to figure that out before you buy the property.
Damn, well that 15 minutes went by fast. Good stuff.
Thanks so much!!
When I first got interested in your videos, it was when I was trying to learn about and research how stocks work. I didn’t know anyone that was trustable and everyone in every UA-cam video that I watched just seemed like they were lying, or trying to catfish you into buying “their new book” on how to make a million dollars every minute with 1 easy free step. After watching your videos for a very long time though, I am happy the “UA-cam algorithm” actually worked for once and pointed me in your direction. You seem like a genuine person to be receiving this type of information from, unlike the majority of other people out there who might not know what they are talking about. Keep up the good work Graham 👍
lol the Tia Lopez part was awesome!
haha thanks!
My tenant screening criteria:
1. Must have at least 750 credit score
2. Must have no eviction record in the past
3. Must have a stable job and not a job hopper
4. Must call up to 3 past landlords for reference
5. Must have no criminal record
🙌🏼
Just wanted to add: no bounced checks.
They way you put all this info makes me feel like i can actually do some realstate investment
Haven't completed the video, but as you are from CA, it's amazing to see what people pay for rent and how much owners paid for the property and the amount they put in vs. what they resold the property just a few years later. Not saying to '"speculate/gamble", but I've seen some opportunities for new or resale, you jump on it and buy it or kick yourself later for not purchasing it. Excellent video and a very down to earth engagement.
Upload on a Saturday?? Was not expecting this but I’m happy I got the notification! Cheers
I tried posting this yesterday, but UA-cam never sent out notifications for some reason and it never appeared on the sub feed. So I had to re-post. Figured I'd test out what a Saturday morning does!
@@GrahamStephan I was waiting for my Friday night notification, glad its up now.
I was looking for his video yesterday and never found it, then went to Stradman’s channel and who do I see there??? Mr. Stephan!! I think he lost track of time watching UA-cam videos lol
Hello Graham, do you recommend saving up for all these setbacks first before putting money aside for investing? Thanks
For example, should the correct order be: 1) emergency fund; 2) save up a reserve for some of these mistakes; 3) money for a down payment on a house; 4) then investing in other areas, like funds
edit: liked the video, smashed the button
You’ve made a lot of valid points that me, myself has made. I find that my HELOC is very helpful. But, I have a couple free and clear properties so makes it easy. Good advice. Thanks
YOU are GOLD, learned so much, brand new to real estate, was just referred to you to learn about intro to finance as a renter
Whoa. I just realized that you can get a fixed rate over 30 years. In Canada, the longest fixed term I've ever seen is 10, and the rate is usually really high.
Graham, 2 questions. 1) Can you (if you have not already) go over your style for running pre buy numbers? 2) Can you tell us how you do background checks/screenings on new tenants. Once again, if you have not already, you have a lot of good videos, and I might not have found the answers in the ones I watched so far.
ua-cam.com/video/hS8lIrzEwv0/v-deo.html
Sounds like the moral of #4 is don't rent to a lawyer??
Basically
😂
Lawyer probably owns the property now. Should be up for lawyer review board. This is just wrong.
If that happens again with a lawyer, report him to the Bar of his state license. I know, I'm a lawyer. That would have gotten his attention.
YogaWellnessMoney, I am a lawyer and I agree.
(Hopefully) I will be purchasing my first property, within the next 1 1/2 - 3 months. Thank you Graham, for these bullet points.
9:57 Two years to evict! The property owner must have gone through hell on a daily basis! I don't think I would ever learn to trust anybody after that 🚫 I'm so sorry to hear about your peer having experienced this!
Yeah it was a pretty crazy situation!
Very sensible advice! Saving up properly for the first deal takes patience & discipline
Number 7: Don't buy land deeds for the moon.
Number 8: Don't buy on mars, either
Elon would disagree
you don't need to buy it if you conquer it
Wrong wrong wrong... your future off spring will thank you. Buy that chit and invest in your great great great great great great great great great great grandkids future. Way not to care about the kids... un subin🤬
@@Templarswordxx7 why not look after the land we already have?
Great insight, Graham! Love your YT channel.
Thanks!!
Interest rate section didn't age too well.
I haven't used hulu in a week cause this show. You're very real about money. I love it. Always smash the like button. I've been a stock investor since I turned 18. Now 21. My sisters keeps talking about real estate wholesaling and idk what wholesaling real estate exactly is or how to do it. Is it even worth it.
Someone told me right now wouldnt be a good time to buy a property and the best time will be around march next year because interest rates are going up. Is this true?
Who knows...I have a video posting next week about my prediction for 2019!
yo wtf did you know about the RONA and the low interests rates making may-june a great buy period. SUS DUDE VUTE TRIDZO HE VENTED
@@aarongold7220 lmaoo for real
Youre friend was right LOL. big prediction.
@@aarongold7220 wait who said what
I love the pics of Tai as you spoke about renting tenants😂 Love the advise he gives and can definitely understand the “marketing strategy” behind having such an expensive house, cars and of course book shelves in the garage but most people don’t know that he actually rents that property (which obviously you have figured out). Awesome video, great to learn not only how to do something but how not so you have a broad idea of different possible scenarios both good and bad.
Thanks so much! And i totally agree with Tai Lopez's marketing strategy...it's honestly about as effective as it gets, and it's all done strategically. For results, everything he has works wonders!
passive income: give yourself to a single mother in need.
All great points. Having reserves is huge.
Commented just anything for the UA-cam's algorithm engagement thing: Great Video Stefan, as always!
Thanks so much!
Thanks for your time in creating this particular video to help investors like me to experience the worst without actually being a victim of such incidents.
Hope this comment helps you with the algorithm
Thank you so much...every comment matters :)
@@GrahamStephan In that case.... nothing. My pleasure
Commenting anything
@@ievaa.2319 no
Comment
So we have been landlords for years. In multiple states. We don't buy homes that are in need of renovation, unless it is a house we are actually going to live in while we renovate over a few years. Instead of using listing agents (Real Estate Agents) we have a property manager who handles ALL the issues that pop up. Our management company charges us 7% per month and 1/2 the first months rent per year. However for that we also have full access to their attorney for evictions and other related issues. We have home warranties on our properties that saves us on repairs of all kinds. We are very selective of WHERE we buy. Properties on the wrong side of the tracks may look great because they are cheap but you're not going to get the quality tenants you need.
If I want to open a Roth IRA should I contribute checks I get from my job or from my self employment ? What looks better and brings back more or is it the same?
It'll be the same, it won't matter where the money is coming from
I just started getting into real estate and I have so much to learn.
I have a dilemma: should i buying a rental property or buying my first home???
Can we get a video on this topic?
ua-cam.com/video/mmusZ66uH7A/v-deo.html
Buy a duplex or a fourplex and live in one and rent out the other units.
Bubble Buster If you don’t wanna live in your own multi family cause you have a family and want a yard and all that
Then I’d buy a home over rental
My family can live without a yard for a few years if we are getting paid to live in our house. Get a fourplex, rent out the other three units and live in the fourth one.
I got an ARM on my first investment property. They can be good options because they offer lower interest rates and as long as you refi with in the set period you are all good.
My only concern is that if rates go up, which they will, you’ll be refinancing at a much higher rate than if you did that now
Any videos about buying foreclosed properties and auctions?
I'll do some in the future!
@@GrahamStephan have you?
UA-cam community engagement engaged! Thanks Graham, I’ve been digging your content big time.
I'm in LA this weekend! woo hoo!
Enjoy!!
I've heard a variable interest rate is better because you will get a lower interest rate at the beginning when you owe a lot of money on the property, so you pay less in interest. The rate will increase over time, but the amount owed on the property will decrease, so less will be paid on interest. It depends on the market, but generally variable interest rates can be good if you think the interest rates will stay roughly the same over time.
You'll likely end up paying even more during the remaining 20-23 years as the interest rate increases annually!
Could you elaborate or link what you mean by the tenant offering rent? I live in Oklahoma and everywhere I’ve lived and all of my family’s rentals have a set rent. How would you go about asking for $X of rent OBO.
Graham, hands down you are the best out when it comes to investing, just to many commercials plugs, I know you did a review on roofstock, but dont they prevent most of what you mention in this video?
Great video Graham! Very helpful
Thanks so much!!
lol
I like the tip about keeping a separate account for each house. Definitely an organized way of doing things.
Omg a video by Graham that I havent watched yet! I wonder how many more there are xD
🙌🏼
There was no gentle tapping... I smashed that button.
🔥🔥
I actually SMASHED the Like Button, I hope that is ok! Gently tapping is against my nature.
THANKS!!
How’s your screen?
Amazing as Always! Thank you, Graham!
would it be a good idea to negotiate a lower rent in exchange for good behavior? meaning that if they don’t become a nuisance that first year they get a discount onwards.
Never hurts to ask!
_
Too many variables to know who's good or not.
Even a stellar tenant, with years of early payments under his belt,
could stop paying, and refuse to leave.
_
My first building I gave half rent off for Christmas for paying on time, Now I just take off 100 bucks .. Note, this does not change there behavior...lol
_ Re: @@Postofficejoe's failed efforts.
Technology&Globalization are displacing workers, causing homelessness.
In Seattle, I feel the charity from Bill Gates and Jeff Bezos
trying to ease this (ShortTerm) problem.
_
When they think they are an awesome renter they usually are a pain...
Can you make a video about the advantages/disadvantages of buying real estate in cash.
Sure!
I don't gently tap like buttons. I smash 'em!
THANKS!!
Had the same issue, bought a house cash..posted to rent, got slammed with calls (over 72 in 3 days) and like a dork i rented it to a couple paying 6 months ahead just to get it. Called some of the references etc and basically should've done a better job to filter out the tenant. Cost me months of rent and damages done to the property. Lesson learned!!!
Frenchy Alicea I have 7 rentals. It took me a while to get them under control but now my rule is this. No Drama, if there is a big sob story or drama why they left the last one one, forget them! Go for good credit, good income, and nothing bad in background check and don’t waiver. It is better empty than renting to a bad renter. Only took me 10 years to learn this lol.
@@tammyhensley3575 yeah i totally agree! I do have 1 single family rentes out via sec8 and has been a total money maker for me in the last 11yrs!
A big mistake is not smashing the like button!
Your videos are badass, great information for an aspiring real estate mogul like myself. Keep those real estate vids coming
Thanks!!
#4. This is why the tenant law in Seattle is completely garbage. They require the first qualified applicant to get the unit.
😬
Great video Graham thanks. Luckily for me I work for a big rental property company in Canada named Boardwalk. I have experienced bad tenants, evictions and all that fun stuff. You are right by saying it's worth more to take less money and have a good tenants then rent it out for more and have a bad tenant. As far as the reno costs, thankfully I have the knowledge, skills set, and tools to do everything myself. Se we are able to save by doing all that our self.
Worst real estate mistake you can make is not subscribing to Graham Stephan...Oh and subscribe to Pewdiepie!
subscribe to T-Series
Oh, and also UNSUBSCRIBE from T-Series
@@viktoriya2145 Ali that facts
Damn! Nicely done...
Graham, can you do a video on how to evaluate how much a property will rent for before buying it?
🙌🏼
Dammit
So close man....so close... *tears slightly
😞
I had a 5/5 ARM on a property @ 3% because the credit union paid the closing costs. Then when 5 years came and the rate was going to adjust higher I paid off the loan from the sale of another house that was a poor rental. If you have enough money to pay cash for the property an ARM can be useful. For most people I would recommend not having more than one rental at a time to prevent over-leveraging.
not bad!
What does closing costs means?
Just invest in PewDiePie
I'll put about tree fiddy on it
Annnnnd it's gone...
Probably reading about your county's tenant laws will be of good benefit.
graham will you eat my feet?
I'm not into cannibalism, sorry
@@GrahamStephan shame, probably wouldn't be half bad with some toe jam lol...
I'm just here for the engagement. But fo rizzles, this is one of your most valuable videos. Gracias.
Thanks!!!
But Graham your videos are too long and you have a different hair cut than me. Disliking and unsubscribing!😠🤮😬
IM UNSUBBING SO I CAN SUB TO PEWDIEPIE INSTEAD!!
Can you do a video on how to properly evaluate a property and calculate all the numbers?
Great video. The transcriptions are a bonus.
thanks!
I love your videos. They're a great combination of being interesting and informative. I am learning so much. Thank you. :)
Can you please do a video in where you explain, when you buy several properties how do you save money when you file taxes...this is my worst fear. I have some money and would like to invest in a few rental properties but I feel the IRS will take a lot of my rent when I file taxes...is this true ?..hope this topic interest you..thanks for all your videos :)
Depreciation usually offsets income, I believe. Get a good CPA to do your taxes.
I love your videos they’re so informative I’m taking note of all of it I plan to become what you have but instead of retiring I plan to just look for more outlets to become as productive as possible with the money that I gain from these endeavors keep up the good work
OUTSTANDING Video, like all the rest. Thank you very much.
Thanks so much!!
Good advice Graham!
Thanks.
Please go over investing in options. Or if u have what is the title?
short and to the point, thank you, Graham
My main questions are how do you know, without experience (aka first time) , how much money you'll need for renovation, repairs, etc. and how to figure out the market, how to do the numbers right. this kind of stuff. I'm just researching right now to hopefully get into this in a few years (or sooner) depending on when I can get enough money for a good 20% down payment on a good first property.
You are great. I agree with you on many cases. PLEASE, PLEASE, PLEASE slow down a bit when you talk. You will be very very effective.
Life changing vdo. Thank you Graham ❤️
How about home home warranties ? Are there any worth having as a landlord or homeowner ? What are the pros and cons of having one ?
Great going back to your core. Nice advice.
Thanks!!
Love your videos. You're always so helpful thank you!
All mentioned in the video is obvious but surprisingly every new investor should watch this so they are reminded about these.
Good tip, keep a sep account for each house
The best video on real estate that I have seen for a long time ;) good work
Thanks!!
Man! This guy’s serves 🔥 with good practical advice.
No days off; love the Saturday post, chief. This is definitely it.
Thanks!!
REITs are a good way to invest in realestate. Main pays monthly dividends and i reinvest the dividends. No maintenance, mortgage pmts, no evictions no headaches. What say ye?
Dividends are taxed as ordinary income so they make much less after taxes and that puts them at a disadvantage