How to Go from 1 to 175 Rental Properties
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- Опубліковано 25 вер 2019
- What would your life be like if you could create enough passive income from rental real estate to quit your job? I’m excited to share today’s show with you, because our guest has done just that-one rental at a time.
In this video, I’m sitting down with Michael Zuber from One Rental at a Time! Michael is sharing his incredible journey from life behind an accountant’s desk to creating financial independence through buy and hold real estate. We’ll talk about Michael’s first property, the struggles he’s faced as an investor, and his outlook moving forward!
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175 units and he's just now making 20k a month passive? I'm not sure the numbers make sense. So, he only nets $115 per unit?
What is always interesting listening to these talks is after you get your first few every property after that gets easier and easier. Getting your first 3 properties is immensely more difficult than properties 150-200.
Funny how that works!
Calvin Raab Personal Finance Videos exactly!!!
I have one and it a head ache let alone 150
True but my 7049th was a real pisser
Got my 4 plex yesterday
Awesome information on that! That's great knowledge very useful in real estate. Something I can't learn from school but definitely can learn it here. Thanks for another educational upload.
Closing on my first rental on Friday using your advice, already searching for a potential second!
After making a few good investments and having a successful small business, this is my next move. Looking to get those cash flowing properties for the future and focus on pursuing hobbies and other interests rather than making money for other people.
Thanks for the useful tips. Getting started is always the hardest part. I'm saving up for my first property, in the mean time I want to learn as much as I possibly can. Keep the awesome uploads coming!
That's so true, Sam! Thanks so much for watching.
It really is! After my first property, the second became SO much easier!
I'm just learning about real estate investing. A long way to go before I can afford my first rental, but I'm 90 % sure this is the direction I want to take to financial freedom. Writing this during Corona Market Crash 2020 so we will see how the next few months go.
There is not much to learn..its not rocket science. I have 4 and its hard af...no shortcuts makes it hard. You wont see cashflows for a long time. These guys cant help you..they had good starts which is everything
I love it, great show great video!
Thank you!
Clayton, Thanks for your inspirations and insights/ helpful information . Quick question: Signed contract to purchase single home/ rental. inspection tomorrow, but the water is turned off and no appliances, therefore wont inspect water and pipes. Is this normal, is it too much risking, not inspecting water pipes?
Thanks for the education
The audio is laggy cant hear what hes saying
So sorry about that!
what training, or advice, homework, or what ever else, do you need to do to know where it is best to invest?
I’m 7 awesome. I have noticed that people with rental property’s are happy. The property managers work hard for their money. Not an easy job. Hats off to them.
funny...I've noticed that people with rental properties are always parasitic ..making the folks IN the property very not happy.
Jay Jay the Landlord is always right bro
Jordan Roig
Not always. I had one claim I broke a lease and sent it to collections. Took a few different collection agencies before it landed with one that could tell me the reason they were trying to collect. I told them it’s interesting that they think I broke the lease since I was month to month at the time. Then I asked if they had my signature on that lease agreement. She said “let me look.” Then a couple minutes later came back and said, “your initials are next to something up above but you’re right, your signature isn’t on this. You have a good day.” And I’ve never heard another peep about it.
Great show! Thanks for posting.
Thank you for watching!
Thank you for your content
Awesome! That my plan my friends. Im gonna "Get out" of the job market for good!! Thank you for the motivation as always Mr Morris!! Working on my credit right now then F & G.
Don Carlo you got this
We have to get out of the rat race! That's what I teach on my UA-cam channel!
Great interview and Awesome information. I just purchased my first property in Detroit and I hope to get two or three more units before years end.
Wow, way to go!
Investing in downtown Detroit is a good move because if something bad happens like a bomb falls on the city it will only do about $12 worth of damage
Hey Clayton, is it better to use a 30 year loan and throw extra money at the principle or use a 15 year mortgage loan?
Two of my favorite investors and youtubers together in one video?! 🤩
King Yang too kind
Thank you
Hey man thanks for everything you do! Quick question, Any property management companies you recommend for Michigan? Specifically grand rapids if you have any properties here. Thanks!
Not sure about GR, all of my Michigan properties are in the Detroit area. Make some calls or ask around at a local RE meetup. 🙂
Get interview, I live in san jose and the prices are so high here do is great to see someone from mt. View do it so well
Chris Schneider thank You
I did the exact same thing in Merced and Fresno. I’m still buying properties today. I can help you get started.
GREAT video!!!!!!
We’re aiming for our first 4 within the next 5 years 🙌🏻.
I'm aiming for approximately the same. I think it's very achievable.
Inspiring story
Comforting to hear that I am not the only one whose first two properties went through difficult time.
Right? You're definitely not alone!
Great video!
Thanks, Chris!
how do you still keep paying all your mortgage and bills for all the homes?
My goal is around 15k-20k a month cash flow. I live in Alabama. That kind of money and my family would live like kings. I’m gonna make it happen. I’ll be buying my first property this year in 2020. I’ve got little over 50k saved up
How is the rental marketing in Alabama? I live in California and houses are not cheap.
@@tokashi1 CA is a terrible place to have rentals tbh. high taxes, laws stacked in favor of the tenants well beyond reason, absurd cost of labor for repairs, etc.
hey man how did it go?
So who pays for the damage? will insurance pay it? or is it out of pocket? Also can you go after the person in court? or any other way to make them pay you?
In general, trying to collect against a delinquent tenant is throwing good money after bad. Better than to strive to get possession of the property as fast as possible to stop the bleeding sooner
I just found your channel and I’m hooked and would love to chat with you. Thanks for the info...!
I have a question I live in Ga I have 10k And I want to buy my first or 2 properties and I already bought a house last year but what should be my next step please point me in the right direction.
House hack, or nomad into a new house every year.
Would you buy a single family now and live in it for a couple years and rent or save up for another few months and buy a duplex and house hack it?
Elite Clinical Research if you could save up money in just a few months then the duplex sounds better. You can get it both units under your primary residence too
I need that help, feel like I'm stuck at analysis paralysis.
Have to find your big WHY! That's what helped me to get my first property! Currently on two so far!
I agree with the risks of daily stock trading but when it comes to consistent long term investments in ETF/mutual funds/bonds I have never seen someone go broke due to compound gains. The market will always go up again.i am not making this up is the course of the market through history.
my financial freedom number is 5k per month! Not really a ton, just wish I wasnt so fearful to pull the trigger….being in debt. But I think I am going to maybe try 1 see how it goes atleast to get started! If it works maybe brrr going forward…just not 100% sure of everything
You can do it!
Loved the interview just so many glitches
with all that money they could’ve bought sum better internet
How do you set up Owner Finance??
Check out this video! bit.ly/2nLLGRa
How many years it took you get 20k cash flow?
Thank you
Do you recommend to payoff the mortgage, or get the cash refi and Invest that cash in another property ?
Really depends on your goals! Check out this video: bit.ly/2TeylLq
In my own opinion, I would get a HELOC (home equity line of credit), and invest money into another property :)
James Holloway isn’t it more risker getting heloc ? paying interest to get your own money, and invest in another property ?
Ian Steeler it comes down to want you want honestly. So getting a HELOC (or a cash out refi), yes you’re paying interest on the money but you need to think about it like this: “paying $200/mo for the heloc or cash out, and in turn for pulling out that equity and investing it, you can possibly get $500/mo”. So paying $200/mo, and getting $500/mo on that money rather than it just sitting in a property.
Like I said though, it depends on your personally wants, and how fast you want to grow. And your risk tolerance!
My problem is the price point for my market (LA) and the fact that I'm a newbie. How can I get going? It seems extremely difficult to try to acquire properties out of state. What should I do? What is your advice? Thanks in advance. Its greatly appreciated. Be SAFE.
Ha, so I asked the question before listening to all of the video.
Happy to help you! Just book a call with us.
Do you guys put each rental property in a separate LLC? So if you have 50 houses you will have 50 LLC’s??
Just start buying homes. Talk to a CPA and they will tell you what to do 😊
This was a fun interview, thanks for everything
Always great to have you, Michael!
Daaamn the thought of that 1031 exchange and then transitioning to paying yourself is scary. Like i wouldn’t even know what to do to set aside for taxes, pay myself through my LLC, and so on... it seems daunting to me.
I don't know any of this either, but you can always get an accountant to help you.
METAL MECHANIC true 🤔
Can we get an update on how you’re doing with COVID-19 and tenants’ ability to pay rent while being unemployed?
With that said, there is a shortage of available housing, so people are desperate to find a place to rent. And if they were able to be evicted, they would certainly pay on time. The reason they don’t pay it’s because they feel like they can get away with it.
Joe Biden‘s law does not prevent you from evicting tenants for staying past their lease. It also doesn’t prevent you from criminally prosecuting people that give bad checks, regardless of the circumstances regarding when they gave you the bad checks. It only prevents you from evicting people for nonpayment. But even if they don’t pay, if they stay past for three months, you don’t have to renew their lease and you can evict them lawfully “for staying past their lease term” if they haven’t paid you.
It’s not that I don’t agree with your skepticism, but technically with fiat currency “Trees Can Grow to the Heavens”. As sad as it is, the purchasing power will be less, but the market can go up forever as long as they keep printing money, especially at the rate we currently are with quantitative easing. It’s scary how much they control the GAME we call our economy.
I’d rather own assets.
The sooner you get to ten the easier it is . After ten units it gets much better
Once you have 10 units, what’s the point? I feel like once you have 10 units, You can live a fun life and you don’t need any more rentals anyway haha. I mean I guess get 15 or 20 units if you wanna have a super big house and stuff
Great Info !! I got my first 2. Im addicted.
Hi, Manny... how did your purchases go?
@@jorgeasihasjr6704 They went smooth. Im on 3rd one eirher a residential or Investment. Lenders are extremely stingy went it comes to properties below 100k. There are also changes in how Lenders are borrowing.
@@mannys3678 Sounds awesome. I'm just absorbing any info I can get. Where did you purchase. I live in a very very small town. Not sure if to focus on my hometown or look in a bigger city.
@@jorgeasihasjr6704 I think smaller towns would probably take longer to rent. I wouldn't want to keep unit vacant. I personally havent tried small towns. You should start building landmarks, like go to a city and go to as many open houses as you can and focus on an area that makes more sense. Ex: Units close to downtown, Universities, shopping centers rent faster because there are jobs around there.
I would love to have 4. That's. Amazing
Let us know if we can help, Shawn! morrisinvest.com
@@RedactedNews I have set up a 30 minute phone call in January, thanks
@@MrStlover99 Awesome, looking forward to it!
Is this the same for property in India also?🇮🇳🇮🇳🇮🇳🇮🇳
I made a fortune during the economic crash. I started working in 07 and started my 401k right away when the market was rock bottom. I had a very aggressive growth being taken out, from 07-2014 I tripled what I and my employer put in. I later then cashed out my 401k when I left that job. I wish i knew about property investment back then, that money was wasted on nonsense.
I think my freedom number is pretty low. $4k
Would more be better? Absolutely. But I could then focus on real estate and gtfo out of the job market.
I just have to figure out how I’m going to get there.
Totally doable! Check out this video on financing options to get the ball rolling. bit.ly/2RjdTN7
Fresno got really good prices.
I am scared to invest any more in California with the new state wide rent control law. I made my portfolio from a condo in SOMA, San Francisco buying it 2009. The rest is history from there.
angela yan 2009 - great timing
"If" I had 1 million...am I able to use that as the 20% down payment and obtain 4 million dollars of property at a cost of aprox. 70k giving me 57 homes?
Duh
Just with $2-3k you can live super duper in Thailand, Malaysia, Costa Rica, Spain Mexico etc. That’s my plan after 50.
Yes! We moved to Portugal. 3 dollars for a bottle of amazing wine.
Magnets Travel great plan
Why after 50? I'm 35 with a wife and two kids and in South America living off of nothing compared to US costs. Been here nearly 10 years. Hahahaha start your life now. Get out of the rat race stop wasting your time.
That's my plan in 4 years when I can retire through real estate investing :)
My goal is to be financially free then go live in Europe.
How about giving new investors some advice on how to enter in today's market
Tons of advice here on the channel, you can also book a call with our team: morrisinvest.com
Cool might by my 1st house soon all cash 2bedroom 45k I'll owe zero rent liability buy buy then thinking about a4 plex owner occupy should I do fha3.5% or conventional or heloc I guess prolly comes down to #s $
J H don’t buy cash you want to maximize profits I’m no guru but have a couple of units. Instead of paying cash on one buy multiple properties but make sure there quite of bit of equity in the best family areas. Personally I avoid any plexes I currently have 3 units cash flowing 425 each with property management and the 1% rule for repairs out of my cash flow. Looking to do a lease option on one of them to sell and maximize profits then purchase another 3 units.
I would like to purchase my first rental property but I can not decide whether or not to purchase my first property in Michigan, Ohio, or Indiana.
Don’t matter just go. And just be close by
His approach seems to be aggressive. He wasnt affraid. The fear factor is a killer!!!
Tell us the banks can help ?
There are lots hidden costs like after tenants moved like large tree trimming, old stove replacement, water damage, unreported problems covered up by the tenants, carpet replacement and endless more
When purchasing rental property you have to make sure you install Vinyl flooring (no carpet), quartz counter tops (they look nice and last), make sure to update the roof and pluming. That should last you at minimum of 15 years. You have to also budget 200 a month on your rental income for repairs. When those hidden costs come up, you'll have repair money saved up.
I am a realtor and a real estate investor. My wife and I just bought our third property. I am still kicking myself for not doing a bug inspection. I am about a month behind schedule because the previous tenant was disgusting. To make matters worse I bought the property from my dad… Mistakes happen, things get overlooked. I was too focused on other clients and did not pay enough attention to my own deal.
Did your dad have an issue with crabs?
I'd like to see someone do it form scratch in NYC in recent years not 30 years ago.
Why NYC? NYC sucks.
I need help!!!! I’m renting now with some cash at hand but I’m confused and scared!!!
Hi Arthur, we'd love to help! You can schedule a call with our team at morrisinvest.com
Gotta get that ball rolling and invest in real estate :) have to find that WHY and it'll see you through! It did for me :)
Morris, with the popularity of Airbnb, VRBO and the like, would it be better to rent properties that way to bring in more cash flow or rent them traditionally? I live in San Diego and I’m looking to invest in small properties near the beach. Your insight is greatly appreciated!
We just did an Airbnb video! Highly recommend the free webinar in the description if that's the route you want to take. bit.ly/2n9RvrS
So hate on investing in stocks since people lost money but then say you are bound to lose money eventually in real-estate also ..
Tree's do grow to the shy. Look at the S&P 500 indexes over the last 30 years
This didn't age well 😁. Now is probably the time to invest though while the market is tanked.
I have an MBA LOVE IT!!! ❤️❤️❤️
W-2 trying to get 1st one
How can I discuss rentals with michael?
His channel is in the description box!
I am in the process of renovating my first "house hack" property & trying to figure out how I want to scale. I'm thinking small multifamily but unsure about the money to get there. I feel like a lot of investors I watch talk about having $40,000 to invest in RE starting out. I saved and invested less than $10,000 on my first deal... & it was very difficult to save even that much. It's much harder doing it on your own with your own money.
Great job, Jasmin! We have a video on creative funding ideas. bit.ly/2RjdTN7
I want help. I want to invest in multiple properties
Book a call with our team! morrisinvest.com
😱😱😱
12,28% year return in that 107k house (before taxes)
Here I live is 4 to 6%!!! (Before taxes!!!)
Do you always use a mgmt company?
Anyone else here start with vacation rental as their first ?
A house u buy for 100 k and sold to 260 k. Then how can u move in 260 k good house. Cos the person paid u can go in 260 k...how to hondle this situation.
Can you rephrase the question?
@@RedactedNews sir. I want to buy a sfh at 100 k today. After 5 years i want to sell it 200 k. Now with that 200 k almost all other houses in the same range cant buy. If we want to buy another 200k house also not possible. How to handle this situation?? If we sell this 100k house we have equity of 100 k but at the inflation and all we cant invest that 200 k in better society. We have to go again to low market and not up market.
Great content but Michael’s audio keeps cutting in and out, very tough listen...
Sorry about that!
@@RedactedNews Second interview I've watched with Michael and both had this issue.
@@Jeffro11821 We are aware, it's on his end. Thanks for watching anyway!
A six-figure market loss is sobering! I lost around $1,000 and pulled all my money out of Vanguard!
Good call!
Dra O buy low, sell high, the jewish lullaby
What did you invest in? 1000 is not much to lose. When the market drops, you buy more at a lower price.
So he started with 40k... where did he get the money to renovate
Ps4gamer he stated he only used 20k down.
My approach had been a lil different. While paying down my current single family rental I've invested in stocks, starting with $250 in Jan and now approaching the 5 digit arena. Utilizing stocks to augment growth in funds I've already earned has been an easy way to get the funds for the next purchase and go from there. Use rentals to buy stocks (plus what I can add out of pocket) to then grow it and buy another property and so on and so on. Not conventional by any means but it's been phenomenal so far for me. I like to think of it as "using digital funds to buy/acquire tangible assets."
I’m curious how you’ll do when there’s a market downturn. Not so much the loss as the timing. As I mull it over, I have a tendency to think housing prices might be pretty good around that time making it a good time to buy, so would the resources still be there to take advantage of that?
@@gtcam723 based on my current market performance and the chances of opportunities when a market downturn actually occurs I'm actually extremely happy and looking forward to that scenario. See, im always scanning property prices on the market and once I'm there I take advantage and purchase in cash. So I dont fall into the "pigs get slaughtered" scenario cause I jump on the realty opportunity as soon as its avail and take advantage to shift the income from dividends and growth in the equity over to a stable tangible asset purchased at a great price and a steady ROI monthly since everyone needs a place to live.
Frenchy Alicea nice. I think I’m late to stock in my move to save for another property. I figure I’d find a fixer and rent my existing place so I’ll spend the rest of this year getting money saved and getting my other stuff situated so I can by my second property next year.
@@gtcam723 all properties I pick up are mainly foreclosures with pretty much cosmetic needs. Easy fix up, and rent out. Like I'm teaching my son, use digital investments to acquire tangible assets and secure lasting, permanent roi income. Good luck!
basically using realestate for stocks and then stocks for realestate?
Hi I am from India and want help at there
Guest's audio keeps cutting in/out
Sorry about that! Our editor tries to clean things up as best as possible, but when it's on the guest's end, there's not much we can do. Hope you were still able to hear the main takeaways!
I lost $4.00 in stock and never went back 😸😸
Lmao
I wish i could hear what they are saying
Yeah unfortunately his audio was crap. But we had him on again in recent video about buying 4 houses.
Wish his connection was better
Clayton!!!
A little glitchy..but good
Sorry about that! Glad you were still able to understand.
Audio is terrible on this one.
WOW!
Didn’t expect this!
175 units! WOW!
Makes my 4 sound like nothing!
Don’t worry, I’ll take it!
Can the audio get fixed? I'm missing half his words.
Is it correct hes only making $20k a month from 175 units ??? That can't be right surely ?
This story is pretty much the reason I’ll probably never invest in a blue state. Takes too long to get tenants out who won’t pay.
I invest in Chicago and Indiana. I only rent section 8 in Chicago because the evictions laws are insane. In Indiana, evictions can take less than a month.
@@Malaka300 how do you like section 8? I’ve actually heard pretty good things. Stable and safe as long as you get some solid tenants
Audio is really poor....good content but need to hear them.
So sorry about this. Unfortunately it was on his end, so there was only so much we could do. Thanks for watching anyway!
I saved 30k in one year from my annual income, I used this to buy a rental property, its unrealistic to assume I can do this yearly. How am I able to continue to add more properties without having to save up so much money?
Finance them! Check out this video on different funding ideas: bit.ly/2RjdTN7
pretty easy
Great but Audio
So sorry! Hopefully you were still able to understand.
Unfortunately the audio sucks!!! Such a great content but this issue... It is awful
So sorry, unfortunately it was on the guest's end and out of our control.
180 properties but can’t get a mic that doesn’t glitch 😂
This was interesting information but misleading. The title should have been how this wealthy guy got wealthier.
Evolve816 really? I started at less than zero, I am sorry that did not get covered.
@@OneRentalataTime Well this response makes the video and your story even better, but I was already inspired. I'll have review your site this weekend. I need mentors lol
Seems like His words bleep out like distorted you can't hear it right out a lot during the important parts
Audio is off
We know.. Sorry! It was on the guest's end and out of our control. Hope you were still able to understand.