Buying My First Four-Plex (update)
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- Опубліковано 28 лип 2024
- In this video, Chandler takes a blast to the past by showing us the very first 4-plex he ever bought. He dives into all of the juicy details by crunching the numbers of current rents, expenses, and how he distributes his cashflow. It’s important to analyze the positives and negatives that have transpired over the years so as to learn from the past and make appropriate changes if necessary. As with most investments, there are always improvements to look at. However, like many investments, there are so many things to celebrate as well! This property is definitely one that has generated an amazing ROI.
Investing in real estate for the last 10 years, Chandler David Smith currently owns over $25 million worth of rental real estate. During this time, he has had some great experiences being able to share his passion alongside his family and buddies. He has seen them absolutely crush it when it comes to the investing and sales world. More importantly, he has been able to share his expertise with others and learned invaluable lessons along the way.
Chandler dives DEEP into all of the ins-and-outs of his very first investment property - how we was able to close the deal, the financial details, his cashflow past and present, and what the future of this property looks like for him. Keep in mind that there are A LOT of unknowns when you take a step into the real estate world - things fall through the cracks and honestly, anything could happen. But - this is life! When you take the proper steps that Chandler teaches here, you CAN mitigate your chances so that you will be taking the smallest risk with the highest return possible!
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Great video. Is good to see the emotional aspect of realestate investing. Earlier today, I stopped by the 1st house that I ever bought. I purchased it 21 years ago, and lived in it for 10 years as I slowly transitioned it to the nicest house on the block. I still own it to this day as a rental property. Its just a tiny 1BR "grandma house", but for 10 years it was my own little castle. Pride of ownership is a beautiful thing.
Love this series guys! Thank you for doing them 👍🏼 I appreciate the fact that you take your time to go through the numbers 👍🏼
This property looks more updated than the last one you checked up on. But both are nice homes just need some updates. Wonderful tour, Chandler!
Your videos are awesome! Thanks so much for the breakdown! Really not that complicated 😊
Really good video👍 Thanks for the break down
Looking to buy my first duplex up to four plex (fha loan limits) within the next year in Idaho. Thanks for all the great tips so far.
DUDE this is the way my man. i started 4 years ago with a househack duplex in seattle and now i own 10 rental units total. and putting an offer on a triplex tomorrow. best of luck stud love to success out there
how did you end up?
How it go
Fantastic video keep them coming
Good stuff buddy 👍🏻
Going forward can you mention what the property initially rented for vs now? Idaho inflation has been crazy lately!
inflation has been wild lately. when i bought my duplex in 2018 in the seattle area it was at 1600 per side, now it's 2150 and i'm under market so i can pick top tier tenants. inflation is wilding bro
I just started following you and just started taking interest in buying my first income property. I noticed the idaho plate? Do you have most your properties in the state?
Do you find that your renters prefer carpet or vinyl throughout the units? Which is better as an owner…replacing carpet as needed or investing in high quality vinyl? I personally hate carpet but my husband are going back and forth on which is the best update to make for units.
in the 10 units that i have i only want carpet in bathrooms. i like having luxury vinyl plank elsewhere or in a lot of my rentals i have old school hardwood floors and they are beautiful
can you update the app for newer androids, please?
When you run the 24% does that include lawn care etc?
thats awsome bro
Hopefully I can live with my parents until I can find a decent deal on a four-plex to house hack. Thankfully I got a few years so the market can work itself out!
I am looking for fourplex as well. Don’t know where to start 😢 I am trying to gain some knowledges so that I don’t make the wrong decision. That’s why I am digging some UA-cam videos
@@svestrial5997 Yeah I have still been doing more research and check for new sales in my target area a couple times a week.
Do you manage them by yourself or you hire management company to deal with tenants?
i manage my househack duplex i live in but all my properties at a distance i use a property management company
So he invested 47k and it took almost 4 years to get that downpayment back? Am i doing the math wrong or is he making more out of this property. I mean 12k a year and all you do is keep it maintained and collect rent doesnt sound bad.
more videos like this
Don't use your phone while driving man...super bad look
So after seven years of owning this first property are you going to make any improvements or upgrades to make the tenants lives a little easier and more comfortable not too comfortable. I would recommend you consider installing energy-efficient stuff into a seven-year-old rental unit like solar panels that kind of stuff I know it's expensive but definitely worth the investment.
What would your numbers be if you had property management?
this is a great point. property managers take 10% of gross rents but in most cases that is actually nearly 50% of your profit
@@MillennialMikehow so? How does that breakdown to being so much of net?
Is that your white Porsche Panamera?
How come you only add three rent income while it’s quadriplex
What happened to Chandler Smith? It's been a while since he last posted.
It's a month later but his wife was dealing with cancer I believe. She recently passed away..
In the real market....
cow that got cash
He didn’t include both mortgage costs, into his ROI Calc. That probably would add 17,000 to his $47k DP. ROI is lower.
What do you mean both mortgage cost? There’s only one mortgage and that expense included the taxes and insurance.
@@ChandlerDavidSmith he refi’ed it again
@@BradSabako that’s not how a refi works. You only have one mortgage.
@@Pbofficial743 geez, RE-watch his comments. He bought it the first time and put a rate and term mortgage on it, then he refi’ed it to get a better interest rate. That’s two times he got mortgages, hence my comment. 25 years in lending and RE here, I know how it works!
@@BradSabako please tell me you're trolling and you're not actually this dumb. When you refi you pay off one mortgage with the new mortgage so you still only have 1 mortgage but now the rate is cheaper. All those years in real estate and you still don't know what you're doing?😂
The fact that you did all the math while driving. 😆
I just don’t understand how someone has 47,000 in liquid cash to put down as a down payment 😂😂😂 I hope an FHA will approve a 10,000 down payment
1st comment!!!!
That the guy who owns the property has a 300k car wearing patagonia and shells out high rents for this piece of crap complex
Click bait😅😅
expense ratio is usually around 50 percent, how is yours 27 percent? who pays all the utilities?
That’s including taxes and insurance. Those are included in the mortgage portion, tenants pay utilities.