How 22 Year Old Made $470,000 Profit From First Rental Property
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- Опубліковано 4 жов 2024
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Thach Nguyen has come a long way since arriving in America at age 4 with his parents, four brothers, and sister in 1975. Focus, drive, determination, and great mentors paved the way for him to go from a homeless refugee to a multi-millionaire.
Thach is the CEO & Founder of Thach Real Estate Group and principal of Springboard to Wealth. He is not only a seasoned realtor, investor, coach, author, and speaker, but also a proud ambassador of the American Dream. During his 30 years in the real estate industry, he has built more than 300 homes, townhouses, multifamily units and completed over 100 flips, and owns over 100 rental properties giving him over $100,000 a month in passive income. Thach and his team have assisted more than 1,500 families to create their own American Dream of home ownership, ranking him in the Top 1% of all real estate professionals nationwide.
Follow on Instagram: / thachnguyen
I began my investment journey at the age of 33, primarily through hard work and dedication. Now at the age of 38, I am thrilled to share that my passive income exceeded $100k in a single month for the first time. This success reinforces the importance of the advice mentioned earlier. It is not about achieving quick wealth, but rather ensuring long-term financial prosperity.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields.
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $483k in just the past two quarters. This experience has shed light on why experienced traders are able to generate substantial returns even in lesser-known markets. It is safe to say that this bold decision has been one of the most impactful choices I have made recently.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
Sure, the Financial advisor that guides me is Stacie Lynn Winson and she is renowned and has quite a following. So it shouldn't be a hassle finding her. Just look her up.
This reference seems valid.. Just looked up her full name on my browser and found her webpage without sweat, over 15 years of experience is certainly striking! very much appreciate this.
This is informative AF. The girl is knowledgeable and well spoken. Best of luck
Phantom Costs: Maintenance, Property Tax, Insurance, Dealing with Tenants, plumbers, electricians. Yes its “sweat equity” but does come with opportunity cost and accountability
Also, it's not $15k in cash flow. Lot's of misleading information in this video. Thumbs down.
Thank you Thach! More BRRRR’s coming!! 🏡🏡🏡
Nice.. congrats
Vayna, great job!!! This is hot video🔥
Many more brrrr coming for you 🏘️🏘️💰💰🔥🔥
Hell yeah! Doing this RN. Bought my first house, renovating the basement to make it a legal duplex, renting out the spare room in my unit, gonna add an ADU eventually. I gots the ALLEY.
I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
@@maryHenokNft Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
Sure, the Financial advisor that guides me is *Mary Onita Wier* and she is renowned and has quite a following. So it shouldn't be a hassle finding her. Just look her up.
Thank you for this tip , I must say, Mary appears to be quite knowledgeable. After coming across her online page, I thoroughly went through her resume, educational background, and qualifications, and I must say, it was quite impressive. I reached out to her, and I have booked a session with her.
Yea let rent 1 room for $2000 a month, when I can rent a 3 bed room and 2 bath for $2200 right across the street.
well this is the prices here in seattle it’s different in every state
She's awesome! 7:05 Next time don't leave her hanging like that. Give that girl her high five. 😂😂😂😂
2k/month for A ROOM????????????? you trippin
I wanted to like this video but I felt like the numbers were a bit inflated. Next time maybe try to get more accurate numbers and maybe we can all not be taken aback by this whole video
All his "cost breakdown" videos are like this.
Lettt'ssss gooo!!! Super 🔥collab!!
No way in hell all those renovations cost just $50k in that area.
It depends on who you use. My handyman built houses before he became a handyman.
Vayna has been killing it since I first met her, very nice and a true hustler!!! Congrats on your first rental....
@ThachNguyen.. it’s me bro, Charles in Vegas😂✌🏾💯
The title of the video is misleading! $470,000 is unrealized profit. It is a profit when I see $470,000 in her bank account.
That is always the issue with real estate especially now that everything is overpriced.
Gotta get them views and fool the youngsters! Could have used future tense in the video title instead of past tense but yeah, I'm not recommending this video to anyone.
Question: how where and who I should ask about ADU laws of a specific town?
As a past travel nurse you cant get me to pay $2000 for a single room especially if its a shared space.
Location
@@keithwisdom1663that doesn’t matter, I’m a travel nurse. The way our contract look atm, who ever pay for this is crazy 😮
Wait 2k a room is more than what people post for rooms in San Diego
Yeah.
She'll figure it out.
What I learned from this video.. she was already killing it and did not need any help from Thach to begin with.
2k per room to nurses?? You’re pushing it… way too risky to assume that property in the back will be 650k. Way over-leveraged!
Exactly, you can get an apartment for 2k in Seattle. Who would pay for just a room for 2k
what an amazing young lady!
As a travel RN, 2 grand can get you an air bnb by yourself. That’s way too much for just a room. I’m not saying you can’t do it but best a luck with that.
She can't do it. Even with all the luck in the world.
$2000 for a room? That just lost me.... will people really pay 2k for a room?
No, they won't.
Could you explain how to transition from a primary to a rental and the proper steps to take? Awesome videos!
Awesome! Thank you for sharing!
I like the video, like the idea... just one problem.... the numbers don't add up... ADU is going for around 300k but costs her 350k to build?? ADU rent for 2k, but your mortgage is around $2800...?? Stop the cap on ADU going for 750k... stop the cap... ADU is only going for around 300k....
*All of that is easy but the hardest and perhaps the impossible part is to find and buy such a property with that price range.*
*You can't in Seattle unless you have some inner connection or something. and you are picking property before it hits the market*
Margins feel so tight and 1250 sf for 750k anywhere is wild but gotta start somewhere
@7:05 thach you need to go back and give her that lowfive… left her hanging. Thank goodness she was quick react like how she is in the market!
I remodeled both of my bathrooms with that cheap tub wall set from Home Depot at 1:52. I’m hoping they’ll last 🤞🏼 ❤
This is awesome! Congrats Vayna! 🔥🔥🔥
Love this idea.I have been thinking about this idea since 5 years but keep changing,I will do it in near future and I know how to remold the interior of the house.
hm. not really a good investment. thats a way over priced home.
$2,000 a room? That is a bit high for a room in Seattle
We want more
How do you know if you can put an ADU in any backyard? Where do you go for this information? Thanks
Good video boss .. good info
thats crazy. around here you cant build adu on a 10000 sqft lot.
Thanks for sharing! Can you share how good/bad shape was the house in?
What kind of rehab did you have to do? 50k sounds low
Once again, Thanks for sharing!
When you mentioned it costs about $350k to build ADU, where did you get the cash from to start the project? You mentioned it would be worth $650k afterwards but without initial funding to build it, it would be no way get to 650k
So a friend gave a deal. She wrote her own commission. Has to rent out rooms to pay for it - no privacy. This is terrible life.
I agreed! She should live in a good size RV, rent out the whole house, and let the house pay for itself.
@@debbiewang5751 FHA Loan you need to live in it for a year before being able to rent it out.
sound good but with so many people are doing the same thing , how are you able to find renters to rent out your property to cover up your mortgage, that is the big issue there
There’s a housing shortage my guy
So you finance the property with 100% money down. Where do you get the money to rehab the property? No money spent but if you leverage another loan for the rehab, in whatever form of borrowing that may be, you will have to pay for that leveraged money?
So what takes the most time is building capital to start that journey of rehabbing.
Hi Thach how about here in Edmonds does ADU apply?
Thanks . I have a rental property the lot area is 13k sqft and a house in a front, but the lot behind is a bit sloping up.
Happy for her. She’s sweating. But 20 steps in and it’s through a family friend. That doesn’t help most of us to get anything started.
Exactly
It’s not hard to get started if you really wanted to fear is usually what holds most people back from investing and then they say stuff like it’s risky or what if… no risk= no reward
Not sure what you mean. Her family friend didn’t give it to her or sold it for a discount. She was going to put it up for sale for her on the MLS but realize it’s a good deal to buy it for herself to keep and hold
How old are you and what do you do for a living now?
I’m 20 I’ve been working as a electrician At General Motors since I was 18 I told myself when I’m 30 I’m going to have at least 10 rental properties or enough cash flow to buy my freedom from a job and I got 3 at 20 it didn’t take a whole lot of money but I did start with 50 grand that I saved up but I know you can start with much much less that’s why I get confused when people say “I don’t have any money to start or I don’t want loose any money or what if this or what if that”
Lmfaooo she said $2000/ month for a room. You can get a whole place to your self for that price or just a little bit more. Girl is delusional
Sounds like you’ve never done a MTR for a traveling nurse in Seattle…
@2Cold1906 It doesn't matter what he's done before or not, "traveling nurses" have plenty of options at that price point and a small room in a small house outside of town is not going to be anybody's first choice, regardless of what their profession is.
@@2Cold1906 no one is going to pay $2000 for a bedroom. You can stay in air bnb for cheaper or around the same price and get the whole house to yourself. I promise you she will be struggling to find people to rent. If they do happen to rent then that’s probably their only option or they way to stupid enough to know what’s out there.
In Texas, we have so much land that we love to stay an acre away from our next neighbor 😅
Great video.
It sounds cheesy and dreamy until the roommates and tenants do not pay their rents!
Then you evict just like you would anyone else. Leases are in place for a reason. And it’s apart of the business that all good investors are prepared for.
Living like that for 30 years 😮
That's why she's doing MTR to travel nurses who always pay and are hardly home.
@@cashflowjohnramirez Do you forget about the COVID-19 rent protection that the government provide to renters?
@@LA-xj3tzDid you forget travel nurses don't want to stay longterm? They have a highpaying job and they don't want to get hung up....not everyones a bum
How can she do this 3 times like you said in the end? Isnt fha loan only given on your first home? And shes playing with alot of debt and expensive rooms and roomates etc... if one roomate doesnt pay it can offset cashflow for a few months. But the main gem here is the equity gained... thats impressive when she sells
She cant use fha again, so shell need 20 down or pay pmi
not if she sells this one
If she refinances, she would no longer have an FHA loan and can qualify for another. Interest rates are really high now so I'm not sure if that would be feasible tho.
DSCR
She could do 5% down conventional if she is will to move in it.
Guess depends on your city ordinance , California.. isn’t as easy .. I wish it was , great content of possibilities
Amazing......presentation
Amazing buddy really inspiring
Wow! She is very impressive!
so she got 2 mortgages, one for main property and the other for the ADU?
i like his energy
bad ass strategy! go girl! you got a new followers here
How do I even start? With no money?
That’s the only time where I’d say not going to College is ok if your making $300K+ in your first year out of high school!
I highly doubted that she made $300,000. She rented out her rooms to pay her mortgage!
@@LA-xj3tz Seems like everyone doubts everything she says
Haha 😊 she knew with certainty what she wanted to do for her life and she just want straight there now and skip college. Plus, she’s a very mature 22-year-old.
@@LA-xj3tzthese numbers on how much she bought the house for, rehab cost and the finish ARV is 100% in line with the seattle market. Plus if you know about seattle and ADU you will know the cost to build a 1,000 sqft and the finish value when done building is crazy in seattle and California now
@@ThachNguyen I believe you. Some doubters will never find success if they can’t see the success of others
Who the hell paying sharing a room for $2000 a month? To risky investment
This dude is special. I’m daughter told me about his tiktoks
@ThachNguyen.. appreciate you man. I meant to say “my daughter showed me your TikToks” do you have a video that talk about how to first started from nothing? Like were your broke at first? Currently I have a city job and I make 33.77 a hour and my wife works at her moms daycare making 9.37 a hour and we are literally in the mud trying to get out.
Big girl making big moves. If she can rent it out, then shes set
Sheesh, there is so much to learn, 😊
Wow mine blowing knowledge
Congratulations Vayna!!!
All the best with the renovation!
Good one! 👍
Amazing content 🔥
Nothing is free in America, the down payment is coming from somewhere, she wrote herself a 6 percent commission. It's a house of cards, if she can't find renters, her house hack business model would not work.
@PaultheProver $530,000 for 1250 sqft seems like the market price. I don't think she scammed anyone. The previous owner was able to break even with the sale of this property and purchase of the new one.
Think positive
lol unless its 10k a mo house, there no house today on the market that dont find tenants in 30-60 days
she was the agent on the buying and selling side, so her commission covered her cash to close, so its coming from her hard work. youre just a hater
NOPE, its not a lowball, a property that needs some form a renovation will always sell for much less than the renovation needed. btw the person who sold the house for 530k probably bought it years ago for 200k and is walking away with tons of cash, so its a win win.
when you buy something to add value, you buy it at a fair price, its not your job to tell the seller to paint it and sell it to me for more@@PaultheProver
It’s great but at same time you ruin the house dream by building house in the backyard ? It’s going to be a mess
Nice... quick quest... i live in philadelphia in a house just like that, i have have 2 empty rooms... how do i rent them to travel nurses...? My back yard is huge with a storage unit on it...
Craigslist
Excellent
Great idea, but I assume all the Honest builders & contractors are lined up for this young lady's project... but in the real world, you better know how not to get scammed by lot of unscrupulous contractors out there, like took your money & ran off....
good content i love numbbers NEW SUB !!
How long did it take you to remodel with sweat equity?
Padsplit in seattle yet?
$300 per sqt to build the ADU on a flat lot? It should be half $150 per sqt
Love to see this! It’s so satisfying when I help my clients do deals like this 👌
Nice!
Truly inspiring, priceless Gems every time
Lmao $50K is BS… that’s gotta be atleast $100k
How did she get the money to build the ADU?
When you have the land the bank is willing to borrow you money. Cause it’s a win for them. And she probably gonna subdivide the land and give it it’s own tax number
Construction loan.
You do everything so good.❤️
2000$ per room is insane I feel she's too optimistic
That's what I'm saying
Only on UA-cam 😂
Also the mortgage is only $2500 on a $530k loan at current rate is unheard of
@KonaVenturesLLC Absolutely nobody is paying 2000 a month for a room in a small house.
More like $800, maybe. Maybe.
That does seem a lot for a room. I rent out a 2 br, 1 bath condo in San Jose, Ca for $2100 only.
Do you need to have a realestate license to do this?
No
Crazy deal
Lol good luck for selling that house for 750k. 😅
...and renting a small room in a small house for $2000 a month? Come on.
They are living in video la la land.
It’s all about blending strategies. Where I’m at a brrrr with a lease option is a monster combo. At the end 0 investment with a great payout at the end and a nice cashflow in the middle. You are welcome.
*I called an electrician to hang a ceiling fan for me. He quoted $280.00. The fan cost $65.00*
*We agreed on 10:00 AM on a certain day, so I planned to take off from work to meet him at my property.*
*He arrived at 9:30 AM and sent me a message that he has arrived early so I need to be there. I couldn't because I was at work but I tried anyway. So, I arrived there at **9:42**. And he had left the scene, not even replying to me. He didn't even wait 15 minutes.*
*HOW THE EFFFFFFFF are you going to find a crew who can work on your rehab property in this market when no one wants to work - everyone in the blue collar industry is now doing a delivery job - be your own boss. No wonder you see HIRING signs everywhere. Big stores paying good hourly rate, plus benefits - but they still can't find people to work for them.*
*Handymen are a celebrities these days - and they charge you like one too.*
That's an easy Installation you could do yourself. Sometimes, you just have to be willing to teach yourself a few tricks of the trade.
2000$ rent for a room yeah sure goodluck with that 🤣
travel nurses make 12k a mo, they stay 1-4 months, just need a place to lay thier head, you think they wanna get a whole ass lease?
@@danielmankinde1706 nobody is paying 2000$ per month for a room in the suburb of Seatle even if you are making 50k month.. maybe if she was renting downtown. She is clearly delusional and so are you .
@@theeconomist100Correct.
@@danielmankinde1706 they can have a nice hotel with amenities for that price.
@@danielmankinde1706😂😂 no they don’t. As a travel RN, I can tell you on average We are not making 12k/month
step one make money dont ever for get thats step one
Thaaach 😃
I'm sorry did you say $3000 for one room?
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I wish this video had consolidated all the figures into a single graphic for easier comprehension. While some people here doubt the financial viability, I believe it could work if:
1) She leases fully furnished rooms to nurses for short-term stays (3-6 months), potentially generating up to $2,000 a month per room. The rest of the house will already be furnished since she will live at the property.
2) She does some of the renovations and project management herself to keep costs under $50,000. Since she has fix and flip experience, she most likely gets better rates from subcontractors.
My only question is, how is she getting the 300K to build the ADU and 50K to renovate? I assume she plans to refinance at some point. But it would be helpful to know her current cash flow (including all of her debt)
She is renting out the rooms and she makes $300,000. Something is wrong here!
She looks like your daughter not student.
Where can I get that brrrr shirt?
BRRRR 🔥🔥🔥
I’m surprised the lady when for a 6% fee for the young lady but good for her
Nice