How To Buy Your First Rental Property (Step by Step)
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- Опубліковано 7 чер 2024
- How to invest in real estate: Here’s exactly how you can buy your first rental property, step by step, and the process involved. Enjoy! Add me on Snapchat/Instagram: GPStephan
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Step 0: Because this is where it starts, you’re going to need a downpayment. How to save for a house:
• How To Save For A Hous...
Step 1: Unless you’re buying a property outright in cash, which I have a feeling is very few of you watching…get your credit in order. How to build your credit:
• The BEST way to begin ...
Step 2: Make sure you have your tax returns prepared. If you’re self employed like me, a lender will ask for your last 2 years of tax returns and take the average income of those two years. Be ready for this!
Step 3: TALK TO A LENDER FIRST BEFORE YOU DO ANYTHING. First, you’ll know EXACTLY what you can qualify for so you won’t waste your time. Secondly, if you find the right place, the lender already has all of your information so you can hit the ground running. And anytime you find a spot that’s worth buying, chances are, you’re competing with other people who want the exact same thing. So timeliness really, really matters here…the faster you are, the better the deal you can get.
Step 4: BEGIN LOOKING AT PROPERTIES. This is really meant to be the fun part…look at EVERYTHING you possibly can within your price range.
How to find a good deal: • How to find a good dea...
Step 5: Determine cash flow. The reality is that 95% of properties just don’t make sense to purchase for an investment…they lose money. It’s also the reality that at a certain price, EVERYTHING makes a great investment - it’s really important to understand these numbers.
Three ways to make money owning real estate: • Real Estate Investing:...
Mortgage Calculator: www.MortgageCalculator.org
Step 6: Look at properties that need minor cosmetic renovations!
Most profitable renovations: • Real Estate Investing ...
Biggest Mistakes: • Top 7 Renovation Mista...
Step 7: MAKE OFFERS ON PROPERTIES! Expect that not every offer will work out…for me, I lose out on many offers because I offer a price where the numbers make sense, and if it’s any higher than that, I won’t buy it.
Step 8: Do your inspections! Make sure to do as many inspections as you possible can. Check the roof, the foundation, electrical, plumbing, if there are any leaks, bring in contractors for bids if it needs work…the more you do, the better.
Step 9: Understand escrow costs: • The HIDDEN COST of bu...
Step 10: RENOVATE IT! Video on renovations: • Day 10 Remodeling Upda...
Step 11: RENT IT OUT! If you want to rent your place for top dollar, use REALLY good pictures, pick up your phone on the second ring, and be available anytime to show it. I promise if you do this, you’ll have no problem renting it out quickly. I personally like using Apartments.com, Craigslist, Zillow, Redfin, Trulia, and Reatltor.com…the more places you property is, the better. Never just limit yourself to one of these, DO THEM ALL.
Tenant screening 101: • Avoid the NIGHTMARE te...
STEP 12: SCALE UP!
Suggested reading:
The Millionaire Real Estate Agent: goo.gl/TPTSVC
Your money or your life: goo.gl/fmlaJR
The Millionaire Real Estate Investor: goo.gl/sV9xtl
How to Win Friends and Influence People: goo.gl/1f3Meq
Think and grow rich: goo.gl/SSKlyu
Awaken the giant within: goo.gl/niIAEI
The Book on Rental Property Investing: goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - goo.gl/sT68EC
American Express Platinum - goo.gl/C9n4e3
Here’s a list of the other videos that explain the process a little further that pertain to this video - enjoy!:
How to save for a house:
ua-cam.com/video/qyQOoCmamIk/v-deo.html
How to build your credit:
ua-cam.com/video/ukaWAjgkH9M/v-deo.html
How to find a good deal:
ua-cam.com/video/9nHDT5XL4KY/v-deo.html
Three ways to make money owning real estate and cash flow:
ua-cam.com/video/h8wNUaBgZTk/v-deo.html
Mortgage Calculator:
www.MortgageCalculator.org
Most profitable renovations:
ua-cam.com/video/kW76liexoBY/v-deo.html
Biggest Renovation Mistakes:
ua-cam.com/video/Tof5GMD0akc/v-deo.html
Hidden escrow costs:
ua-cam.com/video/cN7n3wC9eAQ/v-deo.html
How to screen a tenant:
ua-cam.com/video/hS8lIrzEwv0/v-deo.html
The Best Real Estate Tax Write Offs:
ua-cam.com/video/sLaw91Baay0/v-deo.html
Why I don’t flip real estate:
ua-cam.com/video/Uh15keMBjf8/v-deo.html
The 5 Golden real estate investing tips:
ua-cam.com/video/57tt-L-Xbj8/v-deo.html
Graham Stephan $ 600.00 cash flow,
I appreciate the value that you provide in your videos. Thanks for the quality info.
Liked and Subscribed.
Graham Stephan do not buy a house now!!!!!!!
Graham make a cash flow calculation video please
Graham thank you for this video, these are really great tips. I appreciate what you offer. You are definitely giving more than what you get.
I’m 13 but I like watching these vids to give me a good idea for when I become older
Good idea! Stay on it!
start saving now for your down payment :) ... and do not buy an expensive car unless it will be paying for itself
Same here man
Omar Choudhury just start saving money. I’m 25 and fucked up by buying Versace glasses and suits 🤦♂️ Just save as much as you can. Chances are in 3-5 years most things you buy won’t matter anymore 👌
Also, don’t buy awesome cars right away. A 15K Maserati sounds great, but then that 3K in annual servicing is fucking horrible 😂
Finally someone who's telling like it is - be patient, save, build your credit - not trying to sell us "secret" formula that only chosen few know....
Thank you for being real.
Repent from your SINS and receive life from Jesus Christ and be saved in Jesus mighty name amen.
Repent from your SINS and receive life from Jesus Christ and be saved in Jesus mighty name amen.
9:44 thats the brady bunch house.
Great video. I watch several youtube videos on how to trade in the market but haven’t made any headstart because they are either talking some gibberish or sharing their story
of how they made it and I do not want to make mistakes by taking risks in my own handswil
The best strategy to use in trading is to trade with a personal trader that understands the market very well, that way maximum profit is guaranteed, I'll highly recommend Katrina susan, she is my current account manager with Rocketta and the bot strategies are working
I'm amazed you mentioned Katrina susan, she is the best and the bot strategies works like magic. I've been making over 100% of my investment monthly since I started using Rocketta, the trading is quiet marvellous
This is not the first time i am hearing of katrina susan and Rocketta exploits, how she handles trading and generates good profits, Rocketta has really made a good name for itself, but i have no idea how to reach her to assist me
You can reach her through TELEGRAM
Katrinasusan is the name to look for
This guy tells it like it is. No gimmicks or ploys, I really love that! Thanks for sharing your wealth of knowledge Graham.
Thank you so much Adam!
Adam McAllister true he’s been like this since Day 1. No BS 👍🏼
Adam McAllister is it wealth of knowledge or knowledge of wealth
Yeah seriously. As a kid close to graduating with a decent paying degree, I now have a plan to retire in the future.
Yes very good video.
Guys like this never buy Lambos. They'd rather have another rental house.
@@notanexpert3967 It is great that way you can build it the way you want!
Trump 2020 how much does all of that run u? Sounds expensive af
Trump 2020 Plenty of reputable builders. Comes down to cash. I’d rather finance and build slower. Not interested in doubles everyday for 3 years
Only if it’s cash flow
No, just a Lotus Elise. :)
This advice is absolutely perfect!! My late husband and I made the bulk of our net worth (approx US$1.95m at 35) from real estate flipping and rentals and we follow everything you’ve said 👍🏻
Seriously? Everything he says works? Where do you live
@@sef_savage9458 you don’t agree with his advice? I live in a major city on the east coast of Australia.
@@Pandorash8 how do you make 1.95m if rent cash flow is like 900?do you make most of your money from selling?
@@acc6310 that’s my net worth (value of assets minus liabilities such as debt). It’s not what I earn. So, that figure is primarily made up of equity in my properties.
@@Pandorash8 that makes sense how long have you been investing in real estate? If you don’t mind me asking
Graham, thank you for shedding light on this issue please tell us how to use this recession to make gains! grew my reserve of $110k to over half-a-million dollars between Dec. 2007 and Aug.2008, but the market is different now
With the inflation, the stock isn't going to be raking in huge gains. It wouldn't be a bad time to BUY it, just don't expect big gains from it for a while. I'll buy once things start looking up in all those trouble areas..until then, too much turbulence for me.
I'm sure the idea of a portfolio-managers might sound controversial to a few, but a new study by investopedia found out that demand for Portfolio-Managers sky-rocketed by over 41.8 percent since the pandemic and based on firsthand encounter I can say for certain their skillsets are topnotch. I've raised over $400k within 18months from an initially stagnant portfolio worth of 150K which was devoid of dividend stocks. These are the high-volume traders.
@@AmandaMichelle. That’s really Impressive! do you mind sharing more info about this coach?
@@kozovski6628 "Alysa Rebecca Reinoehl'' is my manager, She has been of great help and her tutelage has brought me to a higher understanding of profit generation. You can look up her name on the net for her page and reach out. Understands the job perfectly.
I just looked up Alysa Rebecca Reinoehl online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals.
How about a tutorial about the process of renting it out?
Like
How long it takes to get a tenant?
Turnover from a tenant?
I back this
Those who in favour of this comment say I
I
Amen to that
Depends on the AREA you are in and how desperate you are to get a tenant. It is EASY to get tenants if you want crappy ones that will make your life hell. Most people are way to eager to get their first property rented, that they don't do proper background checks on potential tenants. One bad tenants can take 3-9 months to evict and cost you ALL those months in lost rent/lawyer fees should they decide not to pay. You'll likely never get that money back and in many places, the state/province favours the tenant over the landlord. There are "career tenants" out there who literally live for free by screwing landlords. They bounce from house to house, perpetually going through the eviction process while living for free. Bottom line is, don't buy a property you can't afford to hold without tenants on your first property. Also have a bit of fluff money in the event things break in the house. Unless you are buying a brand new house, I can guarantee you that you will be fixing showers, toilets, sinks, appliances, roofs etc. It can be a real pain in the ass.
If a tenant is late on rent, you need to immediately give them written notice to pay. Don't listen to their sob stories and "I need more time" crap. You are running a business, not a homeless shelter. If after 1 week they don't pay, I would start eviction proceedings with the courts and if you are lucky, they will be gone in 3 months. If the tenant is a career tenant and knows what they are doing, depending on where you are, you will get screwed royally. Again, it can take up to 9 months to get rid of them. Oh and don't ever rent to friends or family.
To scare away bad tenants, in your rental ads I would ask for the following:
1.) Place of work and employer reference
2.) Proof of income
3.) Previous place of residence and why they left
4.) The name and phone number of their previous landlord
5.) Be able to provide first and last months rent as well as a damage deposit. Some places don't allow landlords to ask for a damage deposit.
A tenant who wont provide you with that information is a bad tenant 9 times out of 10. If they can't give you an employer reference, they probably don't have a job. If they can't provide proof of income, then they probably don't have a good income. If they wont provide the name and number of their previous landlord, they probably left on bad terms. If they can't provide first/last months rent, they can't afford to rent from you period. No tenant is better than a bad tenant.
Once you have selected your GOOD tenant, you need a tenancy agreement. Look up samples of those online. You will also want renters insurance. Talk to you bank. You should then make a checklist (part of your tenancy agreement) which outlines the condition of the house and every item in it and their condition. You take your tenant through the house and have them initial beside every item on that list, stating that the condition is good and in working order. This is how you can nail them for damages to your property and not be liable yourself. Certain things you will still need to pay for, like if the sink starts leaking or the toilet malfunctions. But if holes appear in the walls and stains in the carpets etc. You can get them for those. Also determine the length of the tenancy. Is it going to be week to week? Month to month? 3 months? 6 months? 1 year? Research this and determine which would be best for you individual situation.
Buying a multiplex that you can afford without the need of tenants and LIVING there, is the best way to go about it in my opinion. That way it is simply a bonus if you have good tenants. Once you expand your portfolio to a larger degree, I would defiantly hire property managers to look after your units for you so that you can focus on building your portfolio, rather than dealing with tenants and their problems. It is always a good idea to set a side a portion of your cash flow from each unit, to be used for repairs.
@@Suge212 Thank you so much for writing that out. That has honestly helped me a lot and was very informative. You are the man suge.
Numbers are wrong 2600 on mortgage and 3200 for rent is only 600 cash flow
Yeaaaaah, I’m pretty sad this comment isn’t higher. Not that the videos bad, just numbers were scuffed here ;p
Lol ok but what happens after the house is payed off...
Not even. With a 2600 mortgage if you put 20% down your home is worth about $650,000. So after property tax (6500/year) and insurance costs. You have negative cash flow
Nvm I just got to the part you were talking about, that’s his total expenses not mortgage. $600 cashflow isn’t bad on something like that
@@Omgjosh925
Property tax for a 650k home is only 1k in taxes in my state.
As one who has been into Real Estates for a long time, I'd suggest you don't go into this at his time. Find other lucrative investments, the market is in a very bad place right now
what other lucrative options are out there? everything is crumbling at the same time
@@archiemcdougald5466 Sorry to jump in, but there a lot; gold, stocks, stable businesses etc. I know this cos I too have been into housing but recently made my first million earlier in the year from stocks and bonds which I have used to set up and put into the other things. The only downside is volatility is easily remedied by using a professional or making very thorough inquiries. Good luck.
@@lebronj5491 Interesting... I have been considering going into something productive with no knowledge of how to go about it... stocks seem nice enough though I have no idea how it works...You mentioned using pros, if its not a problem, do you mind telling if you used one or recommending a good one? I could definitely use the help of one right now... thanks...
fr man. the market is a no fly zone right now
@@Mrcarlson_E I can relate, it's always harder to start. For the professional, yeah, I used one cos I'm not so knowledgeable in the field and I battle with time constraints. I'm not really sure I'm permitted to go into details here, but mine is Adam Abraham Keith, and you could look him up yourself.
I just recently saw this video as I'm currently learning about real estate. Probably one of those most informative and best real estate videos I have ever watched!
Hi I have off market deals
ima get my first one in March..u got me motivated man
Thanks man! Congratulations on your daughter!! Definitely gotta link up soon!
Chrissss jonessss
Aye daddy jones over here!!
bruno needs them treats man
Rentals for the genitals. beast mode!
Graham!! I've been following your channel on UA-cam for just about 2-3 months!! I closed yesterday on my first rental, Four house property!! You'd be proud, my man!! Everything you mentioned on this video is what I went through!! Thank you for your work!!
XIX Express that’s actually amazing !! Congratulations
Thank you!! I started on renovations today!! Definitely a life changer!!
@@DoomFinger511 a property with 4 houses in it!! Strictly search for multi-family homes and see what's offered in the area.
@@DoomFinger511 yes! That's the way to house-hack for beginners! I'm an hour Southeast of Houston, TX. Also, research FHA loans! That'll give you a great boost with a lower down payment! And you can use FHA to up to a 5 unit property!
@Nawal Ahmed yes! 3 of the 4 are renting out. Im currently working on renovating and renting out the 4th and on to the next. Unfortunately, these people are paying minimal for rent. So I'm working on an increase, or having them vacate soon. Its tough but it must be done.
I love the step by step. I think people first coming in to buying often don't know where to start or how to move forward. A simple, broken down step by step that goes start to finish is incredibly helpful.
Graham I just wanted to let you know that I’ve been watching you for years and you motivated me to finally start my UA-cam channel. I kept telling myself that I don’t have time and I finally stopped making excuses and I started. Thank you for the motivation and keep up the good work.
That channel was short lived. lol.
Graham finally buys his lambo when he gets sponsored by creditkarma or vanguard
That would be the dream, man...no more weird sketchy fly-by-night companies hitting me up for sponsored videos that i'll never do. Give me Vanguard or CreditKarma any day.
@@GrahamStephan Credit Karma green, with a GIGANTIC sticker lol
I'm furious...
I just learned more from binge watching your videos during work than I have in college for 3 years.
well wtf did you go to college for? I'm in it for finance and all of this is practical advice but not technical. Pay attention to class instead of watching Graham videos and once you're out of class watch them then you have a killer combo.
Educate yourself on UA-cam, lol
you got scammed
University of UA-cam
University of Google grad here. Currently getting my master's at the University of UA-cam. No student loan. Yeah.
Matte black for sure! Thank you for some inspiration I’m 25 and I feel like I’m about to open the doors to the rest of my life. Thank you.
Thank you so much Graham for all you do. I watched this back in high school before college to get some general info and i’m finally making the money to afford my first rental property. My credit is amazing thanks to your advice and I just need to wait a few more months to have enough income history to approve for a housing loan
I once owned a trailer park, toilets went missing after nearly every tenant. Who steals a frigg'in toilet?
Lol. Ive seen people even steal the house cabling....
That's easy tenants in a trailer park, duh. Yw..
I went to a thrift store and there was a sign in the bathroom not to steal the toilet paper and if they needed to ask them about it. I thought it was funny and I asked the lady who's the owner about it. She said she went to the bathroom and all the toilet paper was gone and she just put it in there. That's why she put up the sign
🤣😄 good question.
@@merricat3025 shytt gets real no pun intended
Answer to life: "Just UA-cam it." -Graham Stephan
Haha
It’s good advice lol
That a millennial for you ! 😂
It's true though
Im 12 years old looking at theese videos bc i want a better future in my life and its best to start knowing theese stuff
Man this is so good, wish I watched this when it was posted, each minute is gold.
“If it’s breakable it’s going to break”- Murphy’s law
So true!
Lol yup
I love how all the comments are about the math while you’re providing so much value. Thank you 🙏
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
Considering that I am only three years away from retirement, it becomes challenging for me to solely concentrate on the long-term perspective. Despite having invested in reputable companies and having a significant amount of funds allocated, my profits have been stagnant. This situation raises the question: Does the current recession and unstable market offer any calculated risk opportunities for generating profits?
I understand your concerns, my friend. I recommend exploring passive index fund investing and expanding your knowledge in this area. Personally, I experienced both successes and challenges when initially seeking a reliable passive income......,
how do I get in touch with this consultant that assist??>>>>
STEPHANIE KOPP MEEKS, that's whom i work with look her
Thanks for these recommendations.....,,,
Hey Graham, thank you so much for such great videos! I watch your videos not only because it contains so much of valuable information but also because you sound so positive, genuine and honest on things you say. It feels that it’s doable. Thank you for fueling the positive energy and boosting it to get started. BIG THANK YOU!!!
From NY
I'm in the process of watching all your videos, hoping I can someday become financially independent. Even though I'm paid well as a doctor, I bust my butt at work and I am tired of it. I can't imagine doing this day in and day out for 30 years, dependent on a paycheck from my employer. Thank you for all the useful information. You are an inspiration. You are my hero!
It's amazing that Graham offers his financial knowledge to the public. Without him i would never have been interested in real estate investing, credit cards, and Lotus's. ;), Appreciate it Graham.
You got it man! You mean real estate investing, DEBT*, and lotus’s ;)
Same here
What is the grammar rule for emojis?
I made the mistake of sitting in a lotus once and almost couldn't get out. There's no dignified way to get out of one if you're tall.
The philosophy of the rich and the poor is this, the rich invest their money and spend what's left while the poor spend their money and invest what's Left.
Thank God for videos like this 🥺 and people like you! I’m self educating as much as I can before I go out and take action. A little scared, wish me luck and pray for me!!
Here is the secret: save money
It's so basic, but so true. Reduce expenses, increase income, save the difference.
@Achaeos Salisbury America.....If you can't make it happen here buddy......you're the trap!
@Achaeos Salisbury why are you watching these videos if you know you won't be able to afford to do it?
@Achaeos Salisbury With your negative attitude and lack of creativity you will not find any of the stuff you mentioned above.
@Achaeos Salisbury You can do it man, I lived out of my car for a while too. Now I'm saving up to buy my first house.
I took my break at work earlier today just to watch this video. 100% worth it.
Thank you!!
The information in this video is invaluable. I can't wait to implement some of these strategies into my business!
You nailed it on this one. Very good advice.
I rented two properties for about 10 years and sold them last year since I was moving out of province and going to repeat it soon
@@nathanballance2347 I know living in Windsor Ontario for years that the city is going downhill with drugs and homelessness and had enough of all the bullshit from tenants and figure I would get a break from it since I did absolutely everything from buying the properties from being in foreclosure and basically been boarded up houses to 100% finished when I sold them.
College student with pennies in pocket watching this instead of studying for my biochem exam. Also liked and commented it for the algorithm lol
This shits gonna save ur life
Mitochondria makes you no money my dear college Student friend
I hope u didn’t fail that class man.
@@sonicnendez easiest A lol
drop out while you still can!
Love how your stuff has no gimmicks. Keep up the good content!
I dream of becoming finicially free and being able to enjoy life when I retire. I love watching your videos. They give me hope that with some hard work and patience, this dream really can come true.
*When it comes to getting your first rental property , having a better credt score just like someone said here is highly important , that’s where Vladimir Corp comes in , these guys are highly recommnded , come thank me later man and tell em it’s from me*
Best real estate video I've seen so far. Thanks!
Also, thank you for the "sub-stepped" detailed videos!
You, sir, are a gentleman and a scholar.
I don't know what kinda contractors you hired, but if they are taking too much time in one site it is usually because they are paid by the hour. If you hired someone who gives you a set price with room to charge more or less at the end depending on the situation usually you don't have to worry about time because they finish the job faster and just as good. So they can go to the next project and continue their grind.
Yee
No.
Yes flat rates are better than hourly rates.
Best video ever, emphatic and you go straight to every point.
The best video ever! Thanks, man, I love your videos, and they have helped me tremendously. I have started a tech startup, and I have my first client. It's fantastic, the feeling of the beginning of success. To have the check in the mail every month! Very grateful. Thanks man
This is probably the best video I have ever watched
Thanks so much!!
Do you have a LLC for your properties or were they purchased and managed as an individual?
In terms of going the cheaper but nice looking option for the property. Some people likely see this as cheap but me and my fiancée did some renovations at our last place and the cheaper options were cheaper but were cost effective and looked really nice. People would compliment it and people rarely would even know the difference.
We had laminated "hardwood" floors, our furniture was mostly main brand design knock off assemble yourself furniture, our brick wall was just "3D" wallpaper. But, it worked really well, sometimes cheaper doesn't mean bad often it doesn't mean bad which was a life lesson.
Showing this video to my son the day he’s born
Send some fresh stuff here
Appreciate everything you’re doing for the public, i hope you understand the importance and impact this information is for the people. Just another reason why the internet is an unbelievable source of “how to life”. Thanks so much, i’ll be starting my real estate career in January, and you WILL have 1 extra view on every video lol
Ah thank you so much man!
I’m watching this in 2021 and your vibe is so different now, but I like both!
Just got my first rental property at 20 here in Edmonton, Canada. Your video helps a lot!
Hey Mr. Stephan!
I just want to thank you for inspiring me to get into real-estate. I'm currently 17 going into my senior year and have started saving for my first rental property.
I wish more people saw your videos so they could learn not just how to do real-estate investments but general money management skills. You have a lot of wisdom that could benefit most people.
This is what should be taught in school.
@@willn8664 if it was taught in highschool, everyone would be buying rental properties and no one would be renting...
Hi Graham, just wanted to know where you calculated your numbers at 12:49. Your cash flow, to me, should be $600 every month (amount renter will pay minus the expenses accrued each month) and the cash on cash return would thus be $600/$80,000 (which was the initial downpayment). Just checking my understanding. Thanks for your content!
^^^^^%
Plus $150 since it is not vacant. So probably he rounded it up from $750.
@@justingaw5879 the 150 for vacancy was in the 2600 so wouldn't the total cost have been 2450 if what you say is taken into account. Maybe he just made a small mistake
Yeah I think he made a mistake
Thank you so much for sharing this fantastic lesson. This is extremely motivating. I just paid cash for my first home last month. While watching this strange video, I feel very proud of myself and my accomplishments. I'm so delighted I made wise financial decisions that have shaped my life for the better.
@Jacob Zate thanks
@Jennifer James There are many investment alternatives available, including real estate, ETFS, st ocks , and cr ypto, but my best advise is to hire an expert to guide you towards a profitable one.
@Jennifer James *Rachel Blanc* is a terrific specialist who has had a significant impact on my financial performance, and I highly suggest her services.
@Jennifer James She's pretty well-known on the internet; her Facebook page has more information.
*Rachel Blanc* that's her name
Such a nice video and explains everything so very well! A+ on content and accuracy!
I feel like I’ve watched this 100 times , but still keep coming back to learn
Man I've started following you because of stocks but my main idea it's always been rentals, I've watched many videos of you and every time I get more and more pumped. Hopefully this year I'm planing on doing my first real state investment, I really appreciate all that expensive education you give us for free basically, I really like how you do your stuff man RESPECT!
I fricken love watching these videos. They’re so inspirational ya know!!
Thank you for this video. Hopefully, I will get a rental property soon.
Perfect timing. In the process of buying my first rental in the KC area. Thanks Graham!
Good luck man!
Showing a little kc love. I'm trying to do the same. Not sure if I will buy on ks or mo side
geno816 KC! I’m staying on the MO side bc from what I heard MO is a more landlord friendly state than KS.
@@jjbuckner ahhh. Didn't know that. Thank you for the info. I'm a missouri boy too.
geno816 don’t quote me on that exactly but I’m pretty sure I remember researching that awhile back. MO represent!
Great video, Graham! I took the plunge and rented out my previous home (condo). It's a significant upfront cost, and can have quite a bit of risk, but the future income and potential appreciation can certainly be worth it. Especially if this is just one of many income streams in a broader investment portfolio.
Watched a lot of videos on strategic property investment; this is by far outlines fantastic tips!
Really great video. Good valuable info. Your videos have become more mature & really like the increased value it now shows.
You’re gonna make me a millionaire. Im calling it now, Graham and I will have a drink someday! On me of course.
Nike Raikage has it worked out yet?
TGMR UK Im currently saving to buy my first rental property! With covid, ive been able to buy a lot of stocks. Once the world comes back to normalish, i should have about 100k+ to start property investment! Im excited but also moving super slowly as to be cautious. Dont wanna call it lucky but the pandemic has kinda helped my endeavors thus far. Haha
Nike Raikage aha that’s sogood to hear I’ve tried buying and selling but can’t get shipped anything do you mind me asking how you have managed to raise that significant amount of money?
TGMR UK TGMR UK well for starters i took the advice hes said many times and started living below my means. I make over 100k a year so that wasnt very hard to accomplish. My main goal was to save at least 2k per month. I was doing that for about 6 months. Then i got a pretty good bonus and tax return so i moved that money into an investment account. I started my account with about 15k and when amazon initially dipped i bought in on a whim id heard on reddit r/trading. Shortly after it rebounded a lot. I make a bunch there then bought a lot of energy stocks for about 40k. They were at 15$ on average. Now i just have to hold on and hope they get back to normal (at least 50$ per share) hopefully by next spring. Then with the additional 2k a month saved i can be at my goal of 100k plus 13k in an emergency fund.
TGMR UK i heard a tip on reddit today to watch for all the cruise companies to rebound. Idk when it can happen but theyre sitting pretty low in price. Could make about 20-30$ per share if they get back up long term
Working on getting my Real Estate license to buy my rental homes! 🙏🏼
My problem is I do have cash to buy a house maybe a $200,000 home How do I get around or what would the IRS do and have what I pay them? Please help I saved forever just for this moment
I’m not born yet but I’m watching this for when I hit the real world.
I already died bruh I'm waiting for the after life
The world is a business
lol
😂😂😂 omg
I have a broken lease from 2017 that's keeping me from getting a new apartment but it's not showing up anywhere on my credit report, also me and my ex-girlfriend had our names on the lease. I'm just finding out she filed a bankruptcy & the account is now "closed" apparently to the debt collectors... But after a friend referred me to 850CLUBLLC,FINANCE I can say there has been a total great turnaround to my credit score and I am now in the 800 CLUB
SCAM
Try FRO ZEN PA.C OM , i make 3 figures with them all at home!
An investment in knowledge pays the best interest."
How is the forex investment done.
Yes, forex investment, I heard it's very profitable
Yes, true but I don't know anything about.
Did I hear someone say forex?
Do you believe I invested $4,000 and got paid $51,070 in seven days?
I came here for research on buying a property or a land and I got way more than I expected. I’m about to give up my apartment, leave below my means, save money, and get the show started. Very informative, thank you very much! I have subscribed!
How’d that turn out ?
How is it going?
Duuuude Grahman this video was awesome! My wife and I are finally trying to get into real estate and this video had a lot of golden nuggets for us.
You and your wife will become millionaires! ✨
I love it when california people use number examples. Over 3gs for rent is just crazy lol.
Lmao that’s applies to NY too
As a California people, it amuses me too
SAN DIEGO here. I call 3gs, 3k.
Yeah it's insane where I live anything to over 1.5k is extremely high.
In SF a studio in a good area is like 3800/month, and that’s like decent.
I love this video so far. I would say that as someone who works for the nations largest lender we do NEED to run a soft pull to get your credit score. It’s basically a shot in the dark tell u numbers without a soft pull and even more so the tech we use doesn’t even allow u to see the numbers without the credit.
what if the person pulls it up on the app and shows you
You should make a 2022 version of this video!
Long but good info, zone out a few time, then had to replay the parts missed, really like the 12 steps, thanks, good job!
13:00 -- Total Cost: $2600 -- Rented for: $3200
Where do you see the $800 Cashflow? I can see $600.
You clean out the couch once a month. Renters usually lose like $200 in change in the couch per month.
I think he deducted vacancy, but that doesn't make much sense, given that he was accounting for it over time, even when he has tenants. Probably a math error.
Guy cant catch a 25% error and expects us to trust his expertise lmao.
@@joshn2342323 ?
@@CrapImGud I would suggest deducting for vacancy, you are looking for a monthly average positive income. If you are not figuring for vacancy it could turn a property that looks like it has a positive cash flow to a property you lose money on.
My trading journey was a matriculation of highs and lows, literally just like the market. you up, you down. Now I'm constantly up.
Hello, I'm new to Bitcoin trade and I've been making huge losses but recently i see a lot of people earning from it Please can someone tell me what to do?
The new digital gold has created a new trillion-dollar's opportunity around the world! Where do you think your country is headed for
All you need is a professional trader to avoid making losses
As a beginner who don't understand how Bitcoin trade really works and you really want to make profit from it. I will advise you to first start working with a professional
How can someone know a professional ccount manager that is trustworthy when legit once are hard to find this days.
Love these evergreen vids man im 19 and am planning on buying my first property in a few years...
Literally perfect timing, I’m 20 years old and look up to you man. Looking into my first rental property now, I’m in collage but I’ll watch this the min I get home, your awesome.
Ah thanks Kevin, glad it's helpful!
I'm in college right now aswell turning 20 soon what are you majoring in?
NMEofdaST8 Business, but I don’t think I’ll use the degree only gain knowledge and networking with people. I’m also in the military, so I saw no loss completing collage since the military is paying me to go.
@@kevinhuertero5346 that's perfect I'm thinking about joining the military myself what branch are you in?
NMEofdaST8 I’m in the National Guard witch is part time military but brings full tuition to all state schools! As well as other great benefits! The reason I chose that branch is because I trusted myself to fully succeed more in the civilian world, and thought it was the best choice to fund my own personal goals in life.
"Tile is one of those things you can't mess up."
Hold my beer.
Hahah
*drops the beer and cracks the tile*
I’m 16 u have no idea how much this helps brodie thx u
Your comment made my morning! Having a rental property is my goal, hopefully in two years I can make that happen, so that really gave me hope.
🔝🔝🔝🔝🔝🔝🔝
Thanks for your feedback❤️.
Send a msg to my financial advisor.
Tell him i recommended you.
*Now that the market has started declining I am going to try and swipe up my second property in 2019. Great tips, thanks.*
🙌🏼
I would wait another year personally.
Im 19 and i will follow this guy on his investments I don’t want to be old and rich🥸
I always follow your credit card videos & now am following your real estate vids.
Even at 2x playback speed this video makes sense. Graham has good pace
Ah thank you!
Great video! Always informative and not the typical lead up to nothing others are dishing out.
Thanks!!
I love everything the u put it, Looking to buy something to start
Thank you so much for your advice. I'm 23 and interested in buying a rental property. Currently saving for down payment. I hope in 2-3 years, I will have at least one rental property :-)
As a loan officer I talk to people all day who tell me their score based off credit karma and it’s usually like 40 points off than what they told me after I run their score. Side note the credit bureau recognizes that people have to shop for a mortgage it will only ding your score for the first 14 days and as long as it’s with other lenders it won’t affect it twice
The hardest part here is the initial down-payment, especially if you're young and just starting out.
Potet Empire , in that case you can occupy one unit with 5% down conventional financing and add room Mets , and rent remaining units.
Good cash flow
I think finding a property that cash flows is the hardest part here, and the biggest risk factor in determining if you will be successful or not in real estate. You can get a down payment by saving up.
Just save up N move in silence the goal is to be rich, not to look rich.
Dude you are literally heaven sent! Thank you so much for this information.. So many people would charge an arm and a leg for this
Greetings mate,I advice anyone trying to buy a house but don’t have the complete funds. I urge you to Invest in stock market, then make good profit before buying a house, his mail address is above my comment
I made $78k after just one week.
Bru, you said it all, you have nooo idea how this helped me, I bought my first property and there’re too many things I made a mistake on, but I learn.
Wow‼️ thank you so much for the lesson,I appreciate you‼️
This video was amazing! Thank you so much Graham!
Me and wife did invest in real estate in Russia for 10 years already and it would be much easier if we will see this video before start )) Very to the point and absolutely right in every issue!
WOW. this really was a step by step, with no bullshit. I appreciate that. most people are like, heres how you do it. You have to think like a tiger, and be positve as the pope, and you want cash flow positivity. Thats how you do it!
Step 6: i used to work in construction what you said about price and time line of projects it 100% accurate, i dont think i ever worked on a site where we hit the first deadline
SMASHED THAT BUTTON!! Great video like always
Thank you so much!