Artificial demand by investors mostly hedge funds like Blackrock buying up entire neighborhoods, also Politicians makeing false promises on building more houses.
@@zacharyfarias2463 that may be true in part, but there are many real estate agents, and brokerages out their that fail pretty quickly. The average realtor failure rate is 87% according to the National Association of Realtors. So to be successful you still got to put in work and be good at what you do. But we also agree, there is a lot of that going around right now where hedge funds are buying up entire neighborhoods, and so forth and causing inflation or “artificial demand” in some areas. At the same token there are some areas that are simply restricted by proximity to large businesses or only have so many places they can set houses because of natural terrain such as rivers mountains highways etc. like in Portland for example, there is really not much room to build any more houses but there is a large demand to live in the area. And a good majority of the homes that are owned here have people that have lived been owned by the same owner for 10, 15, 20+ years. But you can see it happening in states like Arizona Nevada some places in California Texas Idaho.
@@ModernRealtynw That makes since, I live in Arizona we have seen our prices go up 4x the normal amount and wages haven't even came close to that. Homelessness is on the rise familys are struggling there seems to be no end in sight and everyone says prices will stay the same and if not go up.
@@zacharyfarias2463 Yeah I’m from Arizona. As well as my wife. She grew up in Glendale and I lived in Scottsdale (before it was super nice) lol. But we go down there every year as her family is all still there and it’s insane how much it’s increased. A lot of it has to do with people from California moving money and people over their. As you saw they even flipped the state politics for the first time in decades from republican to democrat. Which is a sign that your getting corporate money and hedge funds over there. The crazy part is only a few years ago you could buy a four Plex for a couple hundred thousand dollars in downtown Phoenix. I was going to purchase some as I thought it was going to spike but I didn’t think it was going to move as fast as it did so I didn’t. Just goes to show…. But yeah- you can see that a lot in AZ. And that’s one of those markets I would be very careful about simply because there’s really nothing stopping more construction to be completed. There’s tons of land and desert as you go outward and the freeways are great. So the commute isn’t even bad. Yeah- States like that I’m very cautious about. Thanks for the feedback though! -Santino Filipelli
Modern realty is walking on a thin rope. You have the fiduciary duty to get tour clients the highest values. There are plenty of cash buyers in today’s market if your sellers really need to close quick. The conflict of interest is huge.
Well what isn’t told in this video is the struggles and hardships over the years. Both personally and financially. The struggle Is real. But with faith, hope, and unrelentless work ethic I believe you can achieve anything you set your mind to. Many sleepless nights and sometimes risking everything in order to get to the next level was necessary. Keep your chin up, stay positive and know that your day will come as well! Set a vision and work every day little by little to achieve it surround yourself by people you want to be like. And remember hard work wins every day of the week. Santino F.
Everyone is in the struggle brotha, dont think your alone. He is obviously being positive in the video to give a good show of who he is, he is representing his company. It sounds like he also started from nothing. Its not easy!
You seriously need to find God. People who are rich in this world will not inherent the kingdom of Heaven. Only way is to give it all away and most people choose not to. In the eyes of God they have received their reward. Be smart find wisdom.
I don’t think the bubble will pop. To many people renting which is more secure than mortgages. All you have to do is recycle the tenant instead of wasting a 30 year mortgage. Renting might be the only way forward.I don’t think the bubble will pop. To many people renting which is more secure than mortgages. All you have to do is recycle the tenant instead of wasting a 30 year mortgage. Renting might be the only way forward.
i wish people would understand that your house is only worth what someone will pay for it , not what zillow tell you . People have felt rich because of the housing boom , i see a ,mental health crisis coming in the downturn
great video, I had a 4 bedrrom house with a pool for just me and two cats, i modified the property rented out half the side and now rent out the entire house, that alone afforded me to work on my passion and repeat, i just bought my second house on an acre with a 2000 sqft workshop. airbnb host is the way to go guys.
@@UpFlip You are very welcome and thank you for the response. Aviation’s, I’m a Aircraft mechanic and will love to see how some of these successful Aircraft repair shop, Maintenance shop, or aircraft maintenance’s contractors got started. There’s not a lot of light that get shine on the aviation industry.
Your videos have opened my eyes !!!! So much potential out there , I was blind and a matrix slave 😂 I thought the only way out was through online business but physical business are still thriving . Thanks ❤❤
I did real estate investing for nearly 10 years. The best properties I bought were never up for sale. They were dilapidated homes that people owned but never thought anyone would buy if they listed them so they just held them, rented them out etc.
This was a great idea Freedom Ring.😀 Real Estate is a great market to get into with the right guidance/experience. How can someone get started if they are looking to do someone similar to what you are doing with Real Estate?
100%. Nice work and that is one of the best ways to start out. Most people think real estate investing is a glamorous but sometimes it taking some of the ugliest properties and making them something beautiful and putting in that work in order to get to the next level. Nice job hope all continues to go well! Santino F.
When someone says "buying a house for cash". Does that simply mean skipping the realtors and doing a private deal? Or are you actually paying the seller in cash and not taking a mortgage on the property? Would love for someone to answer this. Thanks in advance.. Ps amazing video and content.
Thanks for the question Mo. Typically buying a house in cash means skipping the mortgage and paying for the house outright. 😀We appreciate the feedback. What types of other businesses would you like to see featured on the channel?
I'm so glad I bought 2 lands. One in TX in cash and one in OK. My next project is turning those 7 to 10 acres into a glamping site. Just need to find money to build first glamping site.
Y'know, I really adore this guy's ability to interview these people. His line of questioning is just so smart and intuitive, I'm convinced he can't produce a bad interview.
I'm currently living with my parents and I disturb them all day by telling what I read everyday . I think unknowingly it is a great way to remember what you read. And now I’m currently about 80% through "Playbook to Millions by Grant Cardone. I have read a lot of entrepreneurial books and self improvement books, and this book is my absolute favorite. This book is extraordinary and really gets you to work extremely hard toward your goals in life and succeed at multiple different areas like personal finance, real estate, business and career. This is an absolute must buy if you need a push to get you going in business or you want more out of life.
curious to know because im obsessive, do u constantly talk about ideas and money to ur parents, because thats all i do, moms always telling me how most people my age wouldnt know a lick of what i do, and i know parrt of thats her b eoing my mom. but i do know im not ur average 19 year old, i prioritize my future and am always self reflecting.
The one question I wanted you to ask but never did : ..what do you think of investors making the market home pricing go up and inventory to be low for ppl because rental investors take most of it and jacking up the price
It’s not the investors… it’s the big companies like Zillow or huge venture companies. Investors would profit with or without a price increase as long as the numbers work. Those big companies like Zillow and venture companies will buy everything above market value so the market goes up and makes it harder for everyone to buy homes meaning they will have to rent and guess who owns the homes you will rent, the big companies
You're very much welcome richiechop. We really appreciate you taking the time to watch and comment on the video.😀💖 Should we do more videos in this industry?
Good question. Honestly no. The only time we would do a 1031 is if we have a very large asset that we sold that we would have trouble with being able to write off a large amount of profits on our taxes. With flips there’s usually not that much capital gains on the actual profits if you have a good CPA and everything‘s well documented. But I guess it also depends on the size of the flip and how long you’ve held onto it. Also the profit amount. I think the best idea is if you do come across a property that you want to flip, it’s best to talk to a CPA. Every property and situation is different. With that being said you normally you see 1031s on properties that have been held for a longer period of time and have significant profits that would be grossly eaten up by taxes and would be better to be put into a another larger property. With flips it’s much more difficult to do that because of so many different variables. Especially if you’re doing them in less than a year or doing several at once. Again though I would talk to CPA. But in the very shortest answer we do not do 1031s on OUR average flip.
@Jonathan Vese is one of our best! Such a genuine and loyal guy in general. Not to mention he’s super driven and can talk to anyone about anything! Such an awesome part of our Modern Family!
The guy seems awesome, but please no one take his advice for just leveraging everything lol. Go into these things well capitalized in case something bad happens.
There are plenty of ways you can get funding. Please browse and watch more of our videos, listen to our podcast, or read our blog posts to get an idea of how different real estate investors accumulate their capital. Hope this helps! ☺️
It depends on the state. In our state if you flip a certain amount of homes a year you do need a contractors license. If you are occupying the property as a homeowner and are living in it while fixing it up you do not need any special licenses. Although you will need to get permits and follow your city ordinances and regulations. Which depend upon the scope of work and so forth. So ensure I would check with your local government and city officials who regulate this where you live.
@@ModernRealtynw another question! If u create ur own LLC can u still sell a home by the owner to avoid using a realtor? or since ur an LLC are u not able to sell as owner? Most things I’ve seen said having an LLC is most beneficial but I wondered if u could still sell the house as an owner or if you’d have to sell it thru ur LLC business. Thanks!
Isn't the housing problem in part being created by people buying houses solely for Airbnb? It might be legal but at this point I don't think is ethical.
To some extent, yes, but keep in mind most of the houses this guy is buying aren't in good enough shape to get financed, so they are not really an option for most people.
I have invested in Real Estate for the last few years, I can honestly say that it is one of the best decisions I have ever made. It's incredible the freedom it has given me.
Great episode. However, I wish he clarified certain things better. For example - he mentioned SBA loans for buying investment properties. How?? If you read the requirements for SBA - "A business must occupy at least 50% of the building in order to qualify for the 504 program, or 60% for newly constructed buildings. Most businesses that operate for-profit are eligible as long as they plan on occupying the building. " How is that beneficial for buying investment properties?
So it’s actually 51% based upon the loan that we got which was a 7(a) loan I believe. And the best example of this is buying a mixed used building. Where you have commercial on the bottom and residential up top. If you finance in some renovation costs you can expand the bottom so it adds the extra square footage to make sure you’re occupying 51%. Or you say that one of the units shall be used as part of your business as an office which will give you again 51% or more. So when you have a investment property such as a commercial building that’s mixed used or multiple tenants. You can essentially occupy the building while still receiving income. Remember there is a five-year pre-payment penalty but if the valuation is high enough and you’ve appreciated the property enough through renovations or by the market you can refinance the property out of the SBA loan and then replace yourself in the downstairs and now you have a fully functioning investment property. Which is exactly what we did. We finance the pre-payment penalty into the new loan after two years, and now the building is generating $176k annually. And appreciated almost 1M in value. It’s not the fastest process but to obtain a commercial building with 10% down and an opportunity for them to give you money to renovate it it is a great opportunity to break into that market. Hope that is helpful!
@@ModernRealtynw Thank you so much for responding, you’re such and inspiration. I’m grinding everyday, waking up in a couple of hours to continue. Thank you for the motivation and amazing advice.
Thanks for the love Ivan! We love our office- Feel free to swing by if your ever in the area for a cup of espresso ☕️ on us! Also if you want to see the before and after on the building, check out our UA-cam channel! Keep crushing it! -Santino F.
As a 19 year old who’s currently interested, these videos are super helpful. I can’t wait to get started into real estate investing! I just need to develop a plan on how to get started.
@@UpFlip I have not, but I’m saving and waiting for an opportunity for me to initiate. I still am worried about finding a team to help me with my first flip as I am still new and naive.
From what I've seen it doesn't really have the growth over there unfortunately. Airbnb properties in tourist areas are probably your best bet for when things get back to normal :)
I absolutely love this channel! So enlightening. Is it possible to do one of these videos, where you get a more in depth look at the process of getting license bonded and insured? I have found myself running into so many road blocks in this area when planning to start a company.
@@UpFlip honestly, it could be any of the businesses you have done. I LOVE your channel. Finally a channel that really gets the story of how companies got started. Just would love to hear one of these stories, of what they did on the licensing, bonding, and insurance side. I work in construction and many times have considered starting my own company, but have found some road blocks with certain licensing. And then, depending on that licensing, bonding and insurance became substantial in requirements that made going off on my own substantially difficult.
@@tevita447 so only some businesses need to be licensed bonded and insured. For example construction is one of those. But Real-Estate you only need to be licensed and insured to be a real estate agent. And for most businesses all you need is a business license which differs from a real estate license and insurance can be obtained through various companies. So for example: if you wanted to get a business license you would go to your state or local government website and look up business license for Nevada. Or if you want to get more specific for Las Vegas Nevada if that’s where you lived. And depending upon the type of business will depend on which insurance you will want to obtain. Some are specifically geared toward Real Estate agents like E&O Insurance. Some are geared toward construction companies. And others are just general liability insurance for your business. Each of these can be found online by doing a simple search or even checking where you have your car insurance at. For but usually you want an insurance company that is industry specific and you want to shop around. So I would go online and let’s say you have a house cleaning business. I would look up “insurance for house cleaning company” In some states they require you to be licensed bonded and insured to own a cleaning company and operate one. Now in this case a license means a business license. Which can be obtained again through your local government website. A bond is something you can get from a bond company that can be Googled again. Look up bonds for cleaning company in Nevada. They may ask for your a copy of business license or your EIN (employee Identification number) which can be obtained on IRS.gov after you obtain your business license. Every industry slightly differs so I would pick which industry you would want and then go from there!
Was thinking the same thing but I gather that they put that as earnest money when they put it under contract with their wholesale company (he mentioned they have an RE investment co)
Yes! @DavidPham is correct. You can buy a house with different loan programs such as FHA loan 3.5% down. There are even zero down loan programs called USDA loans. Or there is down payment assistance programs that are offered by your local government I would check with a lender or different lenders. There were also loan programs out there or 1% down conventional loans. So it’s all a matter of just doing your research talking to many different lenders and seeing what the requirements are for you to qualify for these loans.
@@UpFlip NOPE, this is one of many and this laid out a lot of Real Estate Investing info most won't disclose, so cheers to your guest for making a great video and sharing with the audience
Is the property on minute 3:11 at $180k same as the property on 5:25 at $155k seemed like they both had the number 814 and look identical with the front side way door. Just different angle!! Thoughts anyone?? Other than that Awesome Info. I'm learning the ropes
Yes you are correct. I think their must have been a mix up in the editing. But the one for $155k is a white and black duplex and can be seen in the background at 5:52 and to the left of the screen at 15:07-15:17. Good catch! Thanks for the feedback and happy that this info was of value! Keep hustling! -Santino Filipelli
Is anyone inspired but not able to know what to do with these videos. If everyone could do this then why do only 7 percent of people make 250k or more per year! Let’s make a video that is very simple step by step where you can make at least $500k per year. An actual detailed step by step so someone can get it right. Otherwise we are all just watching and not executing! So it becomes more of entertainment then an actual way to move forward watching these videos.
Upflip nice vid 👍👍 we would like to see more content in the real estate field also renting commercial property offices or shops,etc & more about Airbnb! 👍
Did UA-cam shadow ban you guys or something?? I keep setting to notifications on and few days later it will be off and nothing from upflip will be in my feed??
In The States, stopping by my house asking if I want to sell won't fly. We already get inundated with unsolicited calls to buy our properties. I literally just hung up on someone 30 minutes ago asking if I want to sell one of my rentals.
In the UK, I would get hit with a tax of a about £50,000 if I was going to move to a house of same value. That massively puts you off moving. House price has doubled in 10 years, and is very desirable. The guy in this video is definitely a blagger
Hey YOU, incredible person reading this...The truth is you are confident and good enough already with who you are, where you are at and what you have right now to have the success you want in life. Don't let others define what “success” is for you. Get up, learn that skill and go after it! I believe in you so much! Have an awesome day! - Love, Nat ❤️
Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding. Trading with Mr Michael Puma have really help me a lot. with his strategy and predictions are so accurate. Reach him for help on the email above my comments, I recommend him for newbies and for anyone seeking for help in trading.
1) I don’t think current home prices are sustainable long term, especially as interest rates go up. 2) Air BnB is a scourge on small communities because it robs the market of long term housing. The model makes a lot of cash flow, but it’s based on greed.
@@PlungingRealtor because in small communities with limited long term housing available you end up with too many homes which only operate as ABnB. People trying to move to the community to work year round have nowhere to live. Maybe to be more clear, I should say tourist areas or resort towns instead of small communities. Where I live is one of the prettiest places on earth. But few people want to be here year round due to the winter. Our city is now taking extreme measures to try and stop ABnB's from continuing to form. Also, wealthy people from outside our community are able to make ridiculous offers for homes which they see as a business and it drives our market prices out of sight. You can't build either. It's running almost $450/sq.ft. where I live.
@@AlanNAlaska well it’s boys based on greed. I know and work with the owner. The homes that he buys, the community comes and thanks him for making the area cleaner and safer. Don’t make judgements based on the things and people you don’t know. You have the right to an opinion, but if you don’t know what you’re talking about or the motives of the person, it’s best not to say anything at all. Santino is one of the most giving people I know.
@@PlungingRealtor I'm not talking about anyone named Santino as far as I'm aware. I'm giving an accurate account of what is going on in my community and, from what I've heard, many others. Anyone care to weight in on the situation in Aspen, Salt Lake, San Diego Jupiter, FL, Chelan, WA, etc. etc.? If it has a tourism hashtag, it's over priced and oversaturated with ABnB's or other nightly rentals.
@@AlanNAlaska but you insinuated what he’s doing is based on greed. You can’t say that when you don’t know. We invest in the communities we live in. We’re not investing outside of city. And also we were investing in our city before it even became a tourist attraction. Portland blew up 5-7 years ago. We’ve been here longer than that.
So basically he has about 2-3 air bnb properties? Hardly a property empire and the entire show involves only one very small ugly property he has on Air bnb
How does he manage risk? He has highly leveraged positions. If there's a crash similar to 2008 i don't see how he is not bankrupted. No hate. Just a question
Good question we manage a risk by making sure that we purchase something that we can get into for very low but has an added value opportunity. So between the market appreciation and any renovations that we do we end up in a very well position of equity. Which at that point we refinance if we’re in a hard money loan and stabilize the asset if we are going to keep it. So all of the properties that we currently own were in about a 40% to 50% debt to value ratio. Also a great way to hedge your risk is to get unsecured non-personally guaranteed loans or lines of credit. So if the market does crash you’re not risking any of your personal assets. Lastly, find partners. People who are willing to come in on the deal with you and you may not make as much money but you manage your risk better because if things go sour you don’t lose as much. You bring the deal to the table and some cash and they bring some cash. And if you do the work obviously you get a bigger slice of the pie. Hope that was helpful!
@@ModernRealtynw thank you for that explanation. That’s also what I’m trying to do. Hats off to you and wish you much more success for your companies! Great inspiration!
@@blicce9597 ofcourse that’s a strategy. I just find it funny he chooses “gentrification” over “fastest growing cities”. Not saying it’s wrong but puts him in a different light
@@DigitalRosePodcast No yeah I totally 100% agree with you. I don’t think it is “politically correct” to have used that term when he could have said “up and coming cities”. But also I can appreciate someone who isn’t politically correct.
That may be partially true actually. But we’ve had low inventory as a result of a few things. Because before this there was still a long-term rentals. So these ideas of Airbnb‘s taking up space. Before this they would just be rented out traditionally. Right now I think it’s harder for first time homebuyers to get in the market regardless because you have baby boomers that are downsizing and wanting property at the same price as millennials Who are comprised of most of the first time homebuyers in the market right now. Also a lot of baby boomers are holding onto properties they’ve acquired throughout their lifetime and keeping them as rentals for supplemental income, or putting them in family trusts. Also building costs are through the roof due to inflation and the supply chain being disrupted. Which has caused builders to increase their prices, or not build at all. Inflation has not helped the cause. Along with interest rates going up now. And one of the other problems is you are seeing a lot of these ibuyer programs that are held by large investment corporations or hedge funds that are buying hundreds and thousands of homes and putting them in huge rental portfolios. So I personally just don’t think that Airbnb‘s are to blame. There are so many other factors out there, and again if somebody wanted to rent out their property and create a rental source that option has been there for decades as a traditional rental. Or a vacation rental. Just some food for thought.
Oh and considering the millennials comprise a first time homebuyer majority, they have the most student loan debt ever in the history of the world. Which doesn’t help when you’re trying to buy a house on your debt to income ratio. That’s actually a huge problem that should be addressed.
@@UpFlip I am a part-time student and full-time dreamer😀 Just finished high school. I always think about opening a startup that will have a lot of potentials.
@@UpFlip my favorite is the candle business. I'm actually buying items to try it out. Never thought candle would be profitable but homemade candle are hot rn. You two broke that video down to the core.
I actually agree with this concept- I think it should be somewhat limited. Especially in the case of hedge funds and large corporations. As an individual who is doing it on a very small scale I don’t think that it’s making a difference and honestly when done on a smaller scale it is usually a good thing for the community and the neighborhood. It’s not enough to deplete the amount of properties that are able to be owned by the average person or increase property values to make them unattainable. But quite the opposite- it helps bring value to the community just enough in the surrounding houses and brings crime down in perhaps a house that was once inhabited by drug dealers. Etc. But when you have billions of dollars and can buy neighborhoods- and you can hold onto these properties for literally over 100 years because these hedge funds and corporations extend beyond the life of the average individual/investor. Therefore making a large portion of homes unavailable to the average person for an extended period of time. And making the cost-of-living super expensive. Hope to see some regulation on this in the future. Without killing the opportunity for the average hardworking individual who chooses to make a living doing a couple homes a year.
I have 2 airbnbs in Socal and its been amazing these past 5 years. Combined they'd rent out for $4,500 but with airbnb im doing a minimum of $7,000-$10,000 per month. The 10k months are usually during the summer and winter but 7k rent per month in the area im in is UNHEARD of if you were to rent it to a single family. I've had barely any problems and I've only had to kick out 2 guest in 5 years. One threw a party and one was a druggie junkie but hey its part of the business. Everything Santino says about airbnb is true. I also have my cleaner working for me full time now since she makes more money cleaning the airbnb with the constant turnover and she loves it more bc its less cleaning/work due to it being a vacation home so she makes more money and does less work. Airbnb only takes 3% fee from Hosts too so airbnb is very host friendly. I wouldn't do a large scale airbnb operation though. It is like a mini hotel service. If you had like 10 properties and 10 different guests every day it can be overwhelming. 95% of guests leave me alone but sometimes I do get some guest that have a hard time using the keypad or they cant find the house when its dark or want recommendations to places or even when they ask me how to use the TV. But if im making 10k and you need help turning on the TV no worries! LOL
@@UpFlip my cousin did it and he works part time as a server at PF changs and he travels the world and has 2 airbnbs. Saw that and I realize I gotta try it out. Daily rental is better then monthly rental. It’s simple economics!
@@blanche1935 id go on airbnb and look at your location and surrounding locations first to see if theres a demand for airbnbs. Id put like December 1st-3rd so you can see all of the available houses because if you put a date like this weekend you wont be able to see the booked houses which will be the popular ones. Airbnb will only show you available houses with your picked dates so I suggest putting the latest date to see all available houses Then you can look at the calendar for the listing and see how many days each house is booked up to see demand.
@Kenny Tran you nailed it. Off of one of our Airbnb‘s in Portland were making over $10,000 a month as well. And your advice about how to find where they are not it’s a good investment is great. By going on Airbnb app and looking in your area that will give you a great idea of what is being rented out for and how much. Love your comment about for $10,000 a month I’ll gladly help you turn on the TV. 😂😂
I hope this business model isn’t a thing for much longer. NO one should be able to do this many short term rentals that aren’t hotels. Perfect example of a major problem in the real estate market right now. Like, good for this guy but he’s fucking over entire communities to make a dollar.
It a choice to get an RBNB. He's not forcing anyone to rent his properties plus a lot of people like the comfort of an actual home and not a Small Hotel. To each their own
It's only a problem when your not cashing in 💸💸 It's called Business for a reason. Sole purpose is to make Mula. With all respect I would get more informed and join the industry so you too can have fun and make money at the same time!! Cheers
@@cactusmundo860 I am of the mindset that businesses have a duty to their communities not just their bottom lines. It’s very easy to get rich off of making others poorer. It doesn’t take a genius.
@@cactusmundo860 the business of taking advantage of people in communities rather than adding value to these places is certainly thriving. Vegas doesn’t want this AIRBNB bullshit here either.
@@UpFlip In Australia at least the real estate agent has fiduciary duty to the seller. Acting as both an agent and a buyer seems, difficult, to really be fulfilling something like that.
@@UpFlip You said that your company list properties for sale for clients and you also offer them quick sale to the client if the need quick cash for said property, at what point do you look out for the best interest of the client or the best interest of yourself if you are constantly walking the thin line between agent and Investor buyer when you are playing both rolls? Thats the potential conflict of interest.
It's only a conflict of interest if they negotiate a low bid to buy the place AFTER they sign contracts to act as an agent. Before that they have no obligation to the seller. Many people will take a quick guaranteed sale with no brokerage fees for a lower price over going through a lengthy and complicated sale, as high bids on houses in need of extensive renovations often have extremely difficult escrow periods with price negotiations after the inspection and then another high chance of the deal falling through by failing to appraise for enough money to secure a loan. If the after repair value is equal to the purchase price plus the cost of renovations and the seller didn't even pay realtor's fees, frankly they got a very good price and nobody should claim that the seller got taken advantage of.
I pray for all you people who want to be like this man "RICH"! The rich will not inherent the kingdom of Heaven because money is the opposite of God u can not serve both 🙏 truly you need wisdom
I disagree with him saying losing money and having a bad credit score being the “worse case scenario “ no sir the worse case scenario is that AND taking a shitload of people down with you. That’s a possibility too so don’t be selfish cus bankruptcy doesn’t hurt just you… by a long sit. I’m still with you as far as taking a risk to live the American dream but your delusional logic just rubbed me wrong.
Certified scam artist. Clear conflict of interest in his multiple opperations seem to open him up to a lawsuit. If I approached his realty, and expected unbiased help getting the maximum value for my property, then later realised I was sold short cause this clear conflict of interest. I would certainly be furious, and sue.
@@UpFlip Thanks! I do not work in the Real Estate industry today (I did help run over 230 rental properties when I first got out of the military). I am in the telecommunications industry but still dream of someday being able to get into the real estate business. It is literally my dream business to be in. BTW, this is probably my favorite video yet! Thank you for the great content!
can't say I support this business or style of business. guys like this are the reason cost of living will continue to rise. his hobby is making money, not creating value in the world.
That’s so sad that you look at it like that. If you were to talk to everybody in the neighborhood they were so thankful at the improvements made to the property- as they were drive-by they would stop and say thank you so much. As it is increasing everybody’s value of their home around the area and decreasing Crime. As the previous tenants living in there were doing drugs and running a drug operation out of the home. As the police busted in the door at one point. There was also many instances of domestic violence, once where the husband or boyfriend grabbed the wife by the back of the head and slammed it into the steering wheel one late night in which cops were also called. On one occasion the renters in there were beating their pit bulls who were puppies with 2x4’s which we caught on video and called the police. The puppies were removed and taken into animal control where they hopefully found a loving home. We buy distressed properties and properties that are usually not financeable and the sellers are going to net more money without having to pay real estate fees. We create value all the way around the board which if you were to talk to our clients, our agents, or any of our neighbors or other individuals who know how we do a business they would attest to this as well. Cost of living is going to rise no matter what. In fact every year the cost of living rises. What this does is it brings people into our city who are able to pay more taxes which go to the schools which provide better schools, for children and infrastructure and so forth. The other alternative is the house remains rundown, the neighborhood does not improve. And people who might have wanted to come visit go and spend their money at a big corporation that is a hotel which does nothing for the community. And the hotel pays minimal taxes. So I guess it’s all about how you look at it. The business model is not for everybody. But to say that it doesn’t provide value I think it is just not accurate or fair. At the end of the day you can’t please everybody. But we hope that you understand that we always try to do what’s best for our community no matter the demographic. Be blessed!
@@ModernRealtynw inherently, there's nothing wrong with taking something and making it better, but at the end of the day this is just another form of gentrification. It's what leading to less people owning actual homes, and creating more renters. Sure the crime and poverty are likely to decrease when an area becomes more wealthy, but that same crime and poverty is just driven off into inner cities, or other locations in general, where the homeless population will continue to grow. Not saying it's on your company or other companies like yours to fix society's problems, but it's a major cause of what has led to society's problems to grow like it has. Companies make significant financial gains, get into "too big to fail" state of business, then move and expand into every area they can, driving more and more people into homelessness or renter situations. All for the sake of financial gain
@@ModernRealtynw You just said a bunch of nothing. Of course taking a house that had crime in it and removing it sounds so great right? Except thats not whats happening. Youre buying a house for the real value of that property, then putting as little effort into the house that maximizes profits for you. Im an electrician, what you do is dangerous and disgusting and should be illegal, house flippers are scum that add nothing to society. You are making your money off gentrification. You provide zero value, zero benefits to any other humans and take away the ability for a middle class to exist; drug dealers are better people than you.
@expoSé greed? Just so you know every year we help a specific family in need during the holidays and also every year we actually go into the streets and help the homeless by giving them clothes and food. Just because you don’t like the way someone does business, doesn’t give you the right to call them greedy.
Join UpFlip Academy and learn from the best in the industry: bit.ly/4dwPdGV
Artificial demand by investors mostly hedge funds like Blackrock buying up entire neighborhoods, also Politicians makeing false promises on building more houses.
@@zacharyfarias2463 that may be true in part, but there are many real estate agents, and brokerages out their that fail pretty quickly.
The average realtor failure rate is 87% according to the National Association of Realtors. So to be successful you still got to put in work and be good at what you do.
But we also agree, there is a lot of that going around right now where hedge funds are buying up entire neighborhoods, and so forth and causing inflation or “artificial demand” in some areas.
At the same token there are some areas that are simply restricted by proximity to large businesses or only have so many places they can set houses because of natural terrain such as rivers mountains highways etc. like in Portland for example, there is really not much room to build any more houses but there is a large demand to live in the area. And a good majority of the homes that are owned here have people that have lived been owned by the same owner for 10, 15, 20+ years.
But you can see it happening in states like Arizona Nevada some places in California Texas Idaho.
@@ModernRealtynw That makes since, I live in Arizona we have seen our prices go up 4x the normal amount and wages haven't even came close to that. Homelessness is on the rise familys are struggling there seems to be no end in sight and everyone says prices will stay the same and if not go up.
@@zacharyfarias2463 Yeah I’m from Arizona. As well as my wife. She grew up in Glendale and I lived in Scottsdale (before it was super nice) lol. But we go down there every year as her family is all still there and it’s insane how much it’s increased.
A lot of it has to do with people from California moving money and people over their. As you saw they even flipped the state politics for the first time in decades from republican to democrat. Which is a sign that your getting corporate money and hedge funds over there.
The crazy part is only a few years ago you could buy a four Plex for a couple hundred thousand dollars in downtown Phoenix. I was going to purchase some as I thought it was going to spike but I didn’t think it was going to move as fast as it did so I didn’t. Just goes to show…. But yeah- you can see that a lot in AZ.
And that’s one of those markets I would be very careful about simply because there’s really nothing stopping more construction to be completed. There’s tons of land and desert as you go outward and the freeways are great. So the commute isn’t even bad. Yeah- States like that I’m very cautious about. Thanks for the feedback though!
-Santino Filipelli
Modern realty is walking on a thin rope. You have the fiduciary duty to get tour clients the highest values. There are plenty of cash buyers in today’s market if your sellers really need to close quick. The conflict of interest is huge.
When things in Life goes as well as it did for this guy it's all smiles and life is awesome. I Hope to get there soon.
Well what isn’t told in this video is the struggles and hardships over the years. Both personally and financially. The struggle Is real. But with faith, hope, and unrelentless work ethic I believe you can achieve anything you set your mind to.
Many sleepless nights and sometimes risking everything in order to get to the next level was necessary.
Keep your chin up, stay positive and know that your day will come as well! Set a vision and work every day little by little to achieve it surround yourself by people you want to be like. And remember hard work wins every day of the week.
Santino F.
@@ModernRealtynw thanks friend, all is true.
Everyone is in the struggle brotha, dont think your alone. He is obviously being positive in the video to give a good show of who he is, he is representing his company. It sounds like he also started from nothing. Its not easy!
You seriously need to find God. People who are rich in this world will not inherent the kingdom of Heaven. Only way is to give it all away and most people choose not to. In the eyes of God they have received their reward. Be smart find wisdom.
Love how detailed and informative this video is! Thanks for taking the time to share :)
Of course! Thanks for sharing your feedback! Much success your way!
Santino F.
I don’t think the bubble will pop. To many people renting which is more secure than mortgages. All you have to do is recycle the tenant instead of wasting a 30 year mortgage. Renting might be the only way forward.I don’t think the bubble will pop. To many people renting which is more secure than mortgages. All you have to do is recycle the tenant instead of wasting a 30 year mortgage. Renting might be the only way forward.
i wish people would understand that your house is only worth what someone will pay for it , not what zillow tell you . People have felt rich because of the housing boom , i see a ,mental health crisis coming in the downturn
@@wedsonolivia4103 I think we would agree with you.
Santino F
great video, I had a 4 bedrrom house with a pool for just me and two cats, i modified the property rented out half the side and now rent out the entire house, that alone afforded me to work on my passion and repeat, i just bought my second house on an acre with a 2000 sqft workshop. airbnb host is the way to go guys.
Congratulations on the success it’s a great opportunity glad to hear you were able to get things to the next level and achieve your goals!
Do you need llc or trust fund to start or can you just rent out with no paperwork
@@Mmmaaarrrrkk you don't need either to start but eventually it would be in your interest to create either or for tax advantages.
I have been up watching most of your videos! All your videos are very detailed and informative.
Thank you for sharing!!
Thank you James and welcome to the channel. 😀 We're so glad your enjoying the content. What type of industry would you like to see next?
@@UpFlip You are very welcome and thank you for the response.
Aviation’s, I’m a Aircraft mechanic and will love to see how some of these successful Aircraft repair shop, Maintenance shop, or aircraft maintenance’s contractors got started. There’s not a lot of light that get shine on the aviation industry.
Your videos have opened my eyes !!!! So much potential out there , I was blind and a matrix slave 😂 I thought the only way out was through online business but physical business are still thriving . Thanks ❤❤
That's so awesome to hear, Brenda! What are you looking to get into?
I did real estate investing for nearly 10 years. The best properties I bought were never up for sale. They were dilapidated homes that people owned but never thought anyone would buy if they listed them so they just held them, rented them out etc.
This was a great idea Freedom Ring.😀 Real Estate is a great market to get into with the right guidance/experience. How can someone get started if they are looking to do someone similar to what you are doing with Real Estate?
100%. Nice work and that is one of the best ways to start out. Most people think real estate investing is a glamorous but sometimes it taking some of the ugliest properties and making them something beautiful and putting in that work in order to get to the next level. Nice job hope all continues to go well!
Santino F.
I agree my last 3 property's I purchased off market
can you please post links to the websites you mentioned for property searches and programs that are good to use?
thanks
When someone says "buying a house for cash". Does that simply mean skipping the realtors and doing a private deal? Or are you actually paying the seller in cash and not taking a mortgage on the property? Would love for someone to answer this. Thanks in advance.. Ps amazing video and content.
Thanks for the question Mo. Typically buying a house in cash means skipping the mortgage and paying for the house outright. 😀We appreciate the feedback. What types of other businesses would you like to see featured on the channel?
What was the type of loan he was referring to when he leveraged 90% LTV? was it SBA loan or SPA loan? Can you please tell us more?
TQ
SBA 7a Loan
There is no greater business than real estate.
I'm so glad I bought 2 lands. One in TX in cash and one in OK.
My next project is turning those 7 to 10 acres into a glamping site. Just need to find money to build first glamping site.
This is the reason why one need help from a good trader who is able to share his wining strategy,
His mail address is above my comment
Y'know, I really adore this guy's ability to interview these people. His line of questioning is just so smart and intuitive, I'm convinced he can't produce a bad interview.
Paul is amazing
I'm currently living with my parents and I disturb them all day by telling what I read everyday . I think unknowingly it is a great way to remember what you read. And now I’m currently about 80% through "Playbook to Millions by Grant Cardone. I have read a lot of entrepreneurial books and self improvement books, and this book is my absolute favorite. This book is extraordinary and really gets you to work extremely hard toward your goals in life and succeed at multiple different areas like personal finance, real estate, business and career. This is an absolute must buy if you need a push to get you going in business or you want more out of life.
curious to know because im obsessive, do u constantly talk about ideas and money to ur parents, because thats all i do, moms always telling me how most people my age wouldnt know a lick of what i do, and i know parrt of thats her b eoing my mom. but i do know im not ur average 19 year old, i prioritize my future and am always self reflecting.
I do the same thing, I assign property in the Central Valley CA
Different market 6+ months ago. The days of this kind of growth may be behind all of us. Good interview and good advertisement for short term rentals.
Totally. Airbnb market is oversaturated now
The one question I wanted you to ask but never did : ..what do you think of investors making the market home pricing go up and inventory to be low for ppl because rental investors take most of it and jacking up the price
This is the reason why one need help from a good trader who is able to share his wining strategy.
His mail address is above my comment
It’s not the investors… it’s the big companies like Zillow or huge venture companies. Investors would profit with or without a price increase as long as the numbers work. Those big companies like Zillow and venture companies will buy everything above market value so the market goes up and makes it harder for everyone to buy homes meaning they will have to rent and guess who owns the homes you will rent, the big companies
Thank you UpFlip!
Love this video. Very valuable contents!
2022 is much more higher and challenging to buy. Be careful or wait for next year, unless you find a great deal.
AMAZING information!! thanks for sharing!!!
Chile let me finish this real estate class lol
Thank you ! Great Video!
You're very much welcome richiechop. We really appreciate you taking the time to watch and comment on the video.😀💖 Should we do more videos in this industry?
Thank you! We appreciate the positive feedback and we are happy that you found the information useful!
Santino F.
great video !
Wonderful video
Sounds like a good interview
Hearing how this man talks
Very similar to my brother
Aside from his business, I hope he's ok
When you flip do you 1031 ?
Good question. Honestly no. The only time we would do a 1031 is if we have a very large asset that we sold that we would have trouble with being able to write off a large amount of profits on our taxes.
With flips there’s usually not that much capital gains on the actual profits if you have a good CPA and everything‘s well documented. But I guess it also depends on the size of the flip and how long you’ve held onto it. Also the profit amount.
I think the best idea is if you do come across a property that you want to flip, it’s best to talk to a CPA. Every property and situation is different.
With that being said you normally you see 1031s on properties that have been held for a longer period of time and have significant profits that would be grossly eaten up by taxes and would be better to be put into a another larger property.
With flips it’s much more difficult to do that because of so many different variables. Especially if you’re doing them in less than a year or doing several at once. Again though I would talk to CPA. But in the very shortest answer we do not do 1031s on OUR average flip.
thank you for the tips
Anytime! Thank you for tuning in and appreciate the positive feedback!
Santino F.
Over charging for a service.
I think you need 4 years as a realtor to become a broker isnt this right?
I work for Santino, literally one of the smartest/genuine guys I know. Hardworking for sure. Great job man
Thats super cool Jonathan.😀 Thanks for watching. How long have you been with the company?
@@UpFlip been there 3 years now. The mentorship and tools at modern realty are the reason I came and the reason we all succeed.
@Jonathan Vese is one of our best! Such a genuine and loyal guy in general. Not to mention he’s super driven and can talk to anyone about anything! Such an awesome part of our Modern Family!
The guy seems awesome, but please no one take his advice for just leveraging everything lol. Go into these things well capitalized in case something bad happens.
Where yall getting the money to pay ?
There are plenty of ways you can get funding. Please browse and watch more of our videos, listen to our podcast, or read our blog posts to get an idea of how different real estate investors accumulate their capital. Hope this helps! ☺️
Do u need a license to do all of this? Say I just wanted to buy and flip homes I don’t need any licenses right?
It depends on the state. In our state if you flip a certain amount of homes a year you do need a contractors license. If you are occupying the property as a homeowner and are living in it while fixing it up you do not need any special licenses. Although you will need to get permits and follow your city ordinances and regulations. Which depend upon the scope of work and so forth.
So ensure I would check with your local government and city officials who regulate this where you live.
@@ModernRealtynw so u would only need a contractors license not a real estate license? Even if ur paying contractors to do work
I would check with your local government.
But definitely do not need a real estate license.
@@ModernRealtynw cool. Looks to me as long as u have the $ for it u don’t need to own a business, or a license to do this which is pretty cool
@@ModernRealtynw another question! If u create ur own LLC can u still sell a home by the owner to avoid using a realtor? or since ur an LLC are u not able to sell as owner? Most things I’ve seen said having an LLC is most beneficial but I wondered if u could still sell the house as an owner or if you’d have to sell it thru ur LLC business. Thanks!
Is he related to Santino Marella by chance?
Isn't the housing problem in part being created by people buying houses solely for Airbnb? It might be legal but at this point I don't think is ethical.
Exactly
That and foreign money stashing.
What do you mean V1N?
@@UpFlip you aren't aware about the housing market problem in the US?
To some extent, yes, but keep in mind most of the houses this guy is buying aren't in good enough shape to get financed, so they are not really an option for most people.
ok got it
Did you learn a lot from this video? What are your takeaways? ☺️
I have invested in Real Estate for the last few years, I can honestly say that it is one of the best decisions I have ever made. It's incredible the freedom it has given me.
Great episode. However, I wish he clarified certain things better. For example - he mentioned SBA loans for buying investment properties. How?? If you read the requirements for SBA - "A business must occupy at least 50% of the building in order to qualify for the 504 program, or 60% for newly constructed buildings. Most businesses that operate for-profit are eligible as long as they plan on occupying the building. "
How is that beneficial for buying investment properties?
So it’s actually 51% based upon the loan that we got which was a 7(a) loan I believe. And the best example of this is buying a mixed used building. Where you have commercial on the bottom and residential up top. If you finance in some renovation costs you can expand the bottom so it adds the extra square footage to make sure you’re occupying 51%. Or you say that one of the units shall be used as part of your business as an office which will give you again 51% or more.
So when you have a investment property such as a commercial building that’s mixed used or multiple tenants. You can essentially occupy the building while still receiving income. Remember there is a five-year pre-payment penalty but if the valuation is high enough and you’ve appreciated the property enough through renovations or by the market you can refinance the property out of the SBA loan and then replace yourself in the downstairs and now you have a fully functioning investment property. Which is exactly what we did. We finance the pre-payment penalty into the new loan after two years, and now the building is generating $176k annually. And appreciated almost 1M in value.
It’s not the fastest process but to obtain a commercial building with 10% down and an opportunity for them to give you money to renovate it it is a great opportunity to break into that market.
Hope that is helpful!
@@ModernRealtynw Thank you so much for responding, you’re such and inspiration. I’m grinding everyday, waking up in a couple of hours to continue. Thank you for the motivation and amazing advice.
@@sergiomaciaslifestyle4507 of course anytime my man! Keep hustling and putting in that work! Always here for advice!
-Santino Filipelli
@@ModernRealtynw Thank you for clarification Santino! Truly appreciate it. Keep crushing it!
@@AleksandarPopivoda no problem! Thank you 🙏! You as well my friend!
You lost me at “look for areas that are gentrifying”.
Why put down 3.5%? Isnt like 20% better?
Tell him that walker gigs recommended you to him okay his mail address is above 🔝 my comment
I would love to start real estate business. If you could help me please with right guidance and tactics will be great. Thank you
Love all the insights and awesome office! 🔥🔥
Thanks for watching Ivan. 😀Should we do more videos on this industry?
Thanks for the love Ivan! We love our office- Feel free to swing by if your ever in the area for a cup of espresso ☕️ on us! Also if you want to see the before and after on the building, check out our UA-cam channel!
Keep crushing it!
-Santino F.
@@UpFlip yes. Maybe the signage industry too 😉
As a 19 year old who’s currently interested, these videos are super helpful. I can’t wait to get started into real estate investing! I just need to develop a plan on how to get started.
You can do it Excuse My Actions. Have you started your basic business plan yet?
@@UpFlip I have not, but I’m saving and waiting for an opportunity for me to initiate. I still am worried about finding a team to help me with my first flip as I am still new and naive.
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@@excusemyactions wow same with me except I’m 28 and don’t have many friends
i love this channel! it gives alot of wisdom pertaining to business!
We're so happy to hear this ido. We really try and provide as much useful information as we can. Should we do more videos in this industry?
.
Need a mentor too.
I'm from Thailand,can I invest in real estate over there?
From what I've seen it doesn't really have the growth over there unfortunately.
Airbnb properties in tourist areas are probably your best bet for when things get back to normal :)
Depending on how and why you purchase Entrepreneur Life. It can be difficult. Are you into real estate in Thailand as well?
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Feels more and more like I’m watching an actual TV show. Love to see the growth
We really appreciate that Simply. What business should we have on the channel next Monday?
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I absolutely love this channel! So enlightening. Is it possible to do one of these videos, where you get a more in depth look at the process of getting license bonded and insured?
I have found myself running into so many road blocks in this area when planning to start a company.
Sure, tevita447. This is a great idea. Every business has a different process, however. Would you like to see a how to video on real estate?
@@UpFlip honestly, it could be any of the businesses you have done. I LOVE your channel. Finally a channel that really gets the story of how companies got started.
Just would love to hear one of these stories, of what they did on the licensing, bonding, and insurance side.
I work in construction and many times have considered starting my own company, but have found some road blocks with certain licensing. And then, depending on that licensing, bonding and insurance became substantial in requirements that made going off on my own substantially difficult.
@tevita what state are you located in?
@@ModernRealtynw Nevada
@@tevita447 so only some businesses need to be licensed bonded and insured. For example construction is one of those. But Real-Estate you only need to be licensed and insured to be a real estate agent. And for most businesses all you need is a business license which differs from a real estate license and insurance can be obtained through various companies.
So for example: if you wanted to get a business license you would go to your state or local government website and look up business license for Nevada. Or if you want to get more specific for Las Vegas Nevada if that’s where you lived.
And depending upon the type of business will depend on which insurance you will want to obtain. Some are specifically geared toward Real Estate agents like E&O Insurance. Some are geared toward construction companies. And others are just general liability insurance for your business.
Each of these can be found online by doing a simple search or even checking where you have your car insurance at. For but usually you want an insurance company that is industry specific and you want to shop around. So I would go online and let’s say you have a house cleaning business. I would look up “insurance for house cleaning company”
In some states they require you to be licensed bonded and insured to own a cleaning company and operate one. Now in this case a license means a business license. Which can be obtained again through your local government website. A bond is something you can get from a bond company that can be Googled again. Look up bonds for cleaning company in Nevada. They may ask for your a copy of business license or your EIN (employee Identification number) which can be obtained on IRS.gov after you obtain your business license.
Every industry slightly differs so I would pick which industry you would want and then go from there!
How do you do $5k down on a $180k house (not being sarcastic)
Was thinking the same thing but I gather that they put that as earnest money when they put it under contract with their wholesale company (he mentioned they have an RE investment co)
@@alexcordero7670 FHA 3.5%, conventional 3%, bunch of different programs
Yes! @DavidPham is correct. You can buy a house with different loan programs such as FHA loan 3.5% down. There are even zero down loan programs called USDA loans. Or there is down payment assistance programs that are offered by your local government I would check with a lender or different lenders. There were also loan programs out there or 1% down conventional loans.
So it’s all a matter of just doing your research talking to many different lenders and seeing what the requirements are for you to qualify for these loans.
@@ModernRealtynw don't you need to be living their in order to do fha?
Good work
Thanks brother 🙏
-Santino Filipelli
THIS A GOOD ONE!!!
Thanks @Organic Life! Appreciate the support and feedback!
-Santino
Thank you Organic life.😀 Is this the first video you've seen on the channel?
@@UpFlip NOPE, this is one of many and this laid out a lot of Real Estate Investing info most won't disclose, so cheers to your guest for making a great video and sharing with the audience
@@ModernRealtynw Appreciate your authenticity and information! keep up the hard work!! Cheers!
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Hi. Have someone from your office contact me. I would love to come and meet you . I think your doing a great job. Thanks for sharing.
This is why cost of living continue to rise..
They must not pay endless welfare in Canada I can’t get anyone to do construction work anywhere in the US I have properties
Really admire your work!
Thank you for the amazing feedback Thao. 😀 Are you in the same type of industry?
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You’re getting better at listening and letting people speak bro 💪🏽
Is the property on minute 3:11 at $180k same as the property on 5:25 at $155k seemed like they both had the number 814 and look identical with the front side way door. Just different angle!! Thoughts anyone?? Other than that Awesome Info. I'm learning the ropes
Yes you are correct. I think their must have been a mix up in the editing. But the one for $155k is a white and black duplex and can be seen in the background at 5:52 and to the left of the screen at 15:07-15:17.
Good catch! Thanks for the feedback and happy that this info was of value! Keep hustling!
-Santino Filipelli
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Is anyone inspired but not able to know what to do with these videos. If everyone could do this then why do only 7 percent of people make 250k or more per year! Let’s make a video that is very simple step by step where you can make at least $500k per year. An actual detailed step by step so someone can get it right. Otherwise we are all just watching and not executing! So it becomes more of entertainment then an actual way to move forward watching these videos.
Upflip nice vid 👍👍 we would like to see more content in the real estate field also renting commercial property offices or shops,etc & more about Airbnb! 👍
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Did UA-cam shadow ban you guys or something?? I keep setting to notifications on and few days later it will be off and nothing from upflip will be in my feed??
In The States, stopping by my house asking if I want to sell won't fly. We already get inundated with unsolicited calls to buy our properties. I literally just hung up on someone 30 minutes ago asking if I want to sell one of my rentals.
aww poor you
I hope things get better, poor thing😢
In the UK, I would get hit with a tax of a about £50,000 if I was going to move to a house of same value. That massively puts you off moving.
House price has doubled in 10 years, and is very desirable. The guy in this video is definitely a blagger
Hey YOU, incredible person reading this...The truth is you are confident and good enough already with who you are, where you are at and what you have right now to have the success you want in life. Don't let others define what “success” is for you. Get up, learn that skill and go after it! I believe in you so much! Have an awesome day! - Love, Nat ❤️
That's Nice Nat. Thank you. Did you enjoy the video?
Awesome words of encouragement! You nailed it! Super encouraging- thanks for the love!
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Starting early is the best way of getting ahead to build wealth, investing remains a priority. The stock market has plenty of opportunities to earn a decent payouts, with the right skills and proper understanding. Trading with Mr Michael Puma have really help me a lot. with his strategy and predictions are so accurate. Reach him for help on the email above my comments, I recommend him for newbies and for anyone seeking for help in trading.
Please interview someone with a 100% Airbnb business model.
We're on the lookout AYOUB. Do you have any question in particular that you'd like to ask if we do a video on this industry?
@@UpFlip Yes! Is it better to rent a property or buy one to do Airbnb with?
@@ayoub7117 buy bro because you get double benefit of appreciation whilst also making income whilst it appreciates
1) I don’t think current home prices are sustainable long term, especially as interest rates go up. 2) Air BnB is a scourge on small communities because it robs the market of long term housing. The model makes a lot of cash flow, but it’s based on greed.
How’s it based on greed?
@@PlungingRealtor because in small communities with limited long term housing available you end up with too many homes which only operate as ABnB. People trying to move to the community to work year round have nowhere to live. Maybe to be more clear, I should say tourist areas or resort towns instead of small communities. Where I live is one of the prettiest places on earth. But few people want to be here year round due to the winter. Our city is now taking extreme measures to try and stop ABnB's from continuing to form. Also, wealthy people from outside our community are able to make ridiculous offers for homes which they see as a business and it drives our market prices out of sight. You can't build either. It's running almost $450/sq.ft. where I live.
@@AlanNAlaska well it’s boys based on greed. I know and work with the owner. The homes that he buys, the community comes and thanks him for making the area cleaner and safer. Don’t make judgements based on the things and people you don’t know. You have the right to an opinion, but if you don’t know what you’re talking about or the motives of the person, it’s best not to say anything at all. Santino is one of the most giving people I know.
@@PlungingRealtor I'm not talking about anyone named Santino as far as I'm aware. I'm giving an accurate account of what is going on in my community and, from what I've heard, many others. Anyone care to weight in on the situation in Aspen, Salt Lake, San Diego Jupiter, FL, Chelan, WA, etc. etc.? If it has a tourism hashtag, it's over priced and oversaturated with ABnB's or other nightly rentals.
@@AlanNAlaska but you insinuated what he’s doing is based on greed. You can’t say that when you don’t know. We invest in the communities we live in. We’re not investing outside of city. And also we were investing in our city before it even became a tourist attraction. Portland blew up 5-7 years ago. We’ve been here longer than that.
So basically he has about 2-3 air bnb properties? Hardly a property empire and the entire show involves only one very small ugly property he has on Air bnb
Gentrifying😒. We won’t skate over that.
You guys have really grown rapidly. Been here since day 1
We really appreciate the support DeVante. You Rock. 😀What type of business would you like to see on the channel next?
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Make money off gentrification. Amazing.
Yeah, I too was a bit taken back when he said that.
How does he manage risk? He has highly leveraged positions. If there's a crash similar to 2008 i don't see how he is not bankrupted.
No hate. Just a question
Greta questions locknight. Thank you. 😀
Good question we manage a risk by making sure that we purchase something that we can get into for very low but has an added value opportunity. So between the market appreciation and any renovations that we do we end up in a very well position of equity. Which at that point we refinance if we’re in a hard money loan and stabilize the asset if we are going to keep it. So all of the properties that we currently own were in about a 40% to 50% debt to value ratio.
Also a great way to hedge your risk is to get unsecured non-personally guaranteed loans or lines of credit. So if the market does crash you’re not risking any of your personal assets.
Lastly, find partners. People who are willing to come in on the deal with you and you may not make as much money but you manage your risk better because if things go sour you don’t lose as much. You bring the deal to the table and some cash and they bring some cash. And if you do the work obviously you get a bigger slice of the pie.
Hope that was helpful!
he bought it at the dip so hes good
@@ModernRealtynw thank you for that explanation. That’s also what I’m trying to do. Hats off to you and wish you much more success for your companies! Great inspiration!
@@ddfelder2 thank you! Same to you and feel free to reach out if you ever want to chat!
-Santino Filipelli
It would be a good video to see how people get the hard money loans or lenders/investors as well as the real costs to do business etc.
Noted Dustin. 😀 We'd have to catch a business at the right time. Any industry you have in mind?
hard money lenders
Awesome info!
Glad it was useful Brian. We appreciate the feedback! Should we do more Real Estate videos?
Thanks Brian!
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Helped me with buying my dream home. Quick, alert and exceptional service. Now became a good friend 🙏
Wow Andy. How amazing. 😀 Congrats!!
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Andy has become one of my friends throughout the years! Crazy we met one day randomly at sitting next to each other at a sushi restaurant!
Santino F.
@@ModernRealtynw and I don’t even like sushi. Lol
Pls where can we find him on social media
See 1:05 in the video! Hope you enjoyed it! Be blessed!
Lets be honest "ONLY FANS" :)
Who knew Gentrification was the secret..
It is whether you accept it or not
@@blicce9597 ofcourse that’s a strategy. I just find it funny he chooses “gentrification” over “fastest growing cities”. Not saying it’s wrong but puts him in a different light
@@DigitalRosePodcast No yeah I totally 100% agree with you. I don’t think it is “politically correct” to have used that term when he could have said “up and coming cities”. But also I can appreciate someone who isn’t politically correct.
When you’re speaking business raw and uncut is the best way to communicate. Being emotional in business will only help you fail.
@@jessicalauren722 I respect that 🤝
Hey big head lol
My great grandfather always told me never trust a guy in skinny jeans! Enough said
Hahahahaha! That’s awesome! I’m pretty sure mine said the same thing.
-Santino Filipelli
And never trust someone wearing a hoodie
All these Airbnb's probably make it harder for first time homebuyers to get in the market especially since inventory is low
That may be partially true actually. But we’ve had low inventory as a result of a few things. Because before this there was still a long-term rentals. So these ideas of Airbnb‘s taking up space. Before this they would just be rented out traditionally.
Right now I think it’s harder for first time homebuyers to get in the market regardless because you have baby boomers that are downsizing and wanting property at the same price as millennials Who are comprised of most of the first time homebuyers in the market right now. Also a lot of baby boomers are holding onto properties they’ve acquired throughout their lifetime and keeping them as rentals for supplemental income, or putting them in family trusts.
Also building costs are through the roof due to inflation and the supply chain being disrupted. Which has caused builders to increase their prices, or not build at all.
Inflation has not helped the cause. Along with interest rates going up now. And one of the other problems is you are seeing a lot of these ibuyer programs that are held by large investment corporations or hedge funds that are buying hundreds and thousands of homes and putting them in huge rental portfolios.
So I personally just don’t think that Airbnb‘s are to blame. There are so many other factors out there, and again if somebody wanted to rent out their property and create a rental source that option has been there for decades as a traditional rental. Or a vacation rental. Just some food for thought.
Oh and considering the millennials comprise a first time homebuyer majority, they have the most student loan debt ever in the history of the world. Which doesn’t help when you’re trying to buy a house on your debt to income ratio. That’s actually a huge problem that should be addressed.
After watching this kind of video I feel like 'oh, I am a businessman now'
We're glad to hear this Kamil. 😀What type of work do you do?
@@UpFlip I am a part-time student and full-time dreamer😀
Just finished high school.
I always think about opening a startup that will have a lot of potentials.
@Kamil That’s the right mindset, now turn your dreams into a reality and jump in!
@@ModernRealtynw thank you💖
@@KamilsActivity your welcome! Thanks for watching and feedback!
I love the vast amount of business you interview.
Thank you Deemole. What's your favorite interview so far?
@@UpFlip my favorite is the candle business. I'm actually buying items to try it out. Never thought candle would be profitable but homemade candle are hot rn. You two broke that video down to the core.
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He's not accurate in stating you need money to start in real estate.
Some people suggest otherwise. Are you in real estate too?
If you are not making money while sleeping, then you will work till end of your life for others. Warrent Buffett ....
Thanks for watching Yasin. This is a good quote. 😀Are you in the real estate industry as well?
Spell much ?
We want more real estate
We've got you covered Mathieu. Should we do the same type?
@@UpFlip yes pls
The people have spoken
I will vote for anyone who will ban all real estate investment firms from buying any residential home.
I actually agree with this concept- I think it should be somewhat limited. Especially in the case of hedge funds and large corporations. As an individual who is doing it on a very small scale I don’t think that it’s making a difference and honestly when done on a smaller scale it is usually a good thing for the community and the neighborhood. It’s not enough to deplete the amount of properties that are able to be owned by the average person or increase property values to make them unattainable. But quite the opposite- it helps bring value to the community just enough in the surrounding houses and brings crime down in perhaps a house that was once inhabited by drug dealers. Etc.
But when you have billions of dollars and can buy neighborhoods- and you can hold onto these properties for literally over 100 years because these hedge funds and corporations extend beyond the life of the average individual/investor. Therefore making a large portion of homes unavailable to the average person for an extended period of time. And making the cost-of-living super expensive.
Hope to see some regulation on this in the future. Without killing the opportunity for the average hardworking individual who chooses to make a living doing a couple homes a year.
I have 2 airbnbs in Socal and its been amazing these past 5 years. Combined they'd rent out for $4,500 but with airbnb im doing a minimum of $7,000-$10,000 per month. The 10k months are usually during the summer and winter but 7k rent per month in the area im in is UNHEARD of if you were to rent it to a single family.
I've had barely any problems and I've only had to kick out 2 guest in 5 years. One threw a party and one was a druggie junkie but hey its part of the business. Everything Santino says about airbnb is true. I also have my cleaner working for me full time now since she makes more money cleaning the airbnb with the constant turnover and she loves it more bc its less cleaning/work due to it being a vacation home so she makes more money and does less work. Airbnb only takes 3% fee from Hosts too so airbnb is very host friendly.
I wouldn't do a large scale airbnb operation though. It is like a mini hotel service. If you had like 10 properties and 10 different guests every day it can be overwhelming. 95% of guests leave me alone but sometimes I do get some guest that have a hard time using the keypad or they cant find the house when its dark or want recommendations to places or even when they ask me how to use the TV. But if im making 10k and you need help turning on the TV no worries! LOL
Wow Kenny! This is great information. Thank you and Congrats. What made you get into the air bnb industry?
@@UpFlip my cousin did it and he works part time as a server at PF changs and he travels the world and has 2 airbnbs. Saw that and I realize I gotta try it out. Daily rental is better then monthly rental. It’s simple economics!
Wow, sound amazing Kenny. Any recommendations in terms of location? I want to try this but not sure if the profit margins would be so good.
@@blanche1935 id go on airbnb and look at your location and surrounding locations first to see if theres a demand for airbnbs. Id put like December 1st-3rd so you can see all of the available houses because if you put a date like this weekend you wont be able to see the booked houses which will be the popular ones. Airbnb will only show you available houses with your picked dates so I suggest putting the latest date to see all available houses
Then you can look at the calendar for the listing and see how many days each house is booked up to see demand.
@Kenny Tran you nailed it. Off of one of our Airbnb‘s in Portland were making over $10,000 a month as well.
And your advice about how to find where they are not it’s a good investment is great. By going on Airbnb app and looking in your area that will give you a great idea of what is being rented out for and how much.
Love your comment about for $10,000 a month I’ll gladly help you turn on the TV. 😂😂
This was EXCELLENT!
Great Information.
Thank You!
Our pleasure Cali Girl. Thank you so much for watching. 😀 Are you in the real estate industry?
@UpFlip
No. But, I'm interested. 😊
Thanks @cali_girl! Feel free to reach out to us for any tips!
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A lot of superficial crap.
We partially agree. :)
Can you please make a video with manny khosbih about his business. Thank you
We can try Sadman. What type of industry is he in?
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just remember everyone: In 2007 builders were on top if the world until 2008….
True. He seems to have good turnover. Super high leverage could be challenging, but maybe Airbnb is recession proof
I hope this business model isn’t a thing for much longer. NO one should be able to do this many short term rentals that aren’t hotels. Perfect example of a major problem in the real estate market right now. Like, good for this guy but he’s fucking over entire communities to make a dollar.
My thoughts exactly.
It a choice to get an RBNB. He's not forcing anyone to rent his properties plus a lot of people like the comfort of an actual home and not a Small Hotel. To each their own
It's only a problem when your not cashing in 💸💸 It's called Business for a reason. Sole purpose is to make Mula. With all respect I would get more informed and join the industry so you too can have fun and make money at the same time!! Cheers
@@cactusmundo860 I am of the mindset that businesses have a duty to their communities not just their bottom lines. It’s very easy to get rich off of making others poorer. It doesn’t take a genius.
@@cactusmundo860 the business of taking advantage of people in communities rather than adding value to these places is certainly thriving. Vegas doesn’t want this AIRBNB bullshit here either.
they are in vancouver canada
Washington USA
Thanks for watching Cian. Yes WA. Are you in the same industry?
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I see a lot of conflicts of interest in this video. I would stay away from this company.
What do you mean nanah?
@@UpFlip In Australia at least the real estate agent has fiduciary duty to the seller. Acting as both an agent and a buyer seems, difficult, to really be fulfilling something like that.
@@UpFlip
You said that your company list properties for sale for clients and you also offer them quick sale to the client if the need quick cash for said property, at what point do you look out for the best interest of the client or the best interest of yourself if you are constantly walking the thin line between agent and Investor buyer when you are playing both rolls?
Thats the potential conflict of interest.
It's only a conflict of interest if they negotiate a low bid to buy the place AFTER they sign contracts to act as an agent. Before that they have no obligation to the seller. Many people will take a quick guaranteed sale with no brokerage fees for a lower price over going through a lengthy and complicated sale, as high bids on houses in need of extensive renovations often have extremely difficult escrow periods with price negotiations after the inspection and then another high chance of the deal falling through by failing to appraise for enough money to secure a loan. If the after repair value is equal to the purchase price plus the cost of renovations and the seller didn't even pay realtor's fees, frankly they got a very good price and nobody should claim that the seller got taken advantage of.
@@uriahz you nailed it my friend! Great explanation!
I pray for all you people who want to be like this man "RICH"! The rich will not inherent the kingdom of Heaven because money is the opposite of God u can not serve both 🙏 truly you need wisdom
Thank you for sharing your thoughts! ☺️
I disagree with him saying losing money and having a bad credit score being the “worse case scenario “ no sir the worse case scenario is that AND taking a shitload of people down with you. That’s a possibility too so don’t be selfish cus bankruptcy doesn’t hurt just you… by a long sit. I’m still with you as far as taking a risk to live the American dream but your delusional logic just rubbed me wrong.
That's one way to look at it. You've got a point. Thanks for watching! ☺️
Certified scam artist. Clear conflict of interest in his multiple opperations seem to open him up to a lawsuit. If I approached his realty, and expected unbiased help getting the maximum value for my property, then later realised I was sold short cause this clear conflict of interest. I would certainly be furious, and sue.
This guy is living THE dream (at least my dream)! Congratulations on the success!!
And I mean it. Real Estate is my all-time dream business (similar to what he has done).
Thanks for the feedback No Carbs.😀 Real Estate is a good industry to get into. Do you currently work in Real Estate?
@@UpFlip Thanks! I do not work in the Real Estate industry today (I did help run over 230 rental properties when I first got out of the military).
I am in the telecommunications industry but still dream of someday being able to get into the real estate business. It is literally my dream business to be in.
BTW, this is probably my favorite video yet! Thank you for the great content!
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Thanks for the awesome compliment! Appreciate the love and support! You got this! Keep grinding away!
O yeah i just need a few 100k to get started. Great.
Not necessarily Stalker. Depends on how you start. Are you looking to get into real estate?
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@@UpFlip what if I had 80000 bucks to get going ?
can't say I support this business or style of business. guys like this are the reason cost of living will continue to rise. his hobby is making money, not creating value in the world.
That’s so sad that you look at it like that. If you were to talk to everybody in the neighborhood they were so thankful at the improvements made to the property- as they were drive-by they would stop and say thank you so much. As it is increasing everybody’s value of their home around the area and decreasing Crime.
As the previous tenants living in there were doing drugs and running a drug operation out of the home. As the police busted in the door at one point. There was also many instances of domestic violence, once where the husband or boyfriend grabbed the wife by the back of the head and slammed it into the steering wheel one late night in which cops were also called.
On one occasion the renters in there were beating their pit bulls who were puppies with 2x4’s which we caught on video and called the police. The puppies were removed and taken into animal control where they hopefully found a loving home.
We buy distressed properties and properties that are usually not financeable and the sellers are going to net more money without having to pay real estate fees.
We create value all the way around the board which if you were to talk to our clients, our agents, or any of our neighbors or other individuals who know how we do a business they would attest to this as well.
Cost of living is going to rise no matter what. In fact every year the cost of living rises. What this does is it brings people into our city who are able to pay more taxes which go to the schools which provide better schools, for children and infrastructure and so forth. The other alternative is the house remains rundown, the neighborhood does not improve. And people who might have wanted to come visit go and spend their money at a big corporation that is a hotel which does nothing for the community. And the hotel pays minimal taxes. So I guess it’s all about how you look at it. The business model is not for everybody. But to say that it doesn’t provide value I think it is just not accurate or fair.
At the end of the day you can’t please everybody. But we hope that you understand that we always try to do what’s best for our community no matter the demographic.
Be blessed!
@@ModernRealtynw inherently, there's nothing wrong with taking something and making it better, but at the end of the day this is just another form of gentrification. It's what leading to less people owning actual homes, and creating more renters. Sure the crime and poverty are likely to decrease when an area becomes more wealthy, but that same crime and poverty is just driven off into inner cities, or other locations in general, where the homeless population will continue to grow. Not saying it's on your company or other companies like yours to fix society's problems, but it's a major cause of what has led to society's problems to grow like it has. Companies make significant financial gains, get into "too big to fail" state of business, then move and expand into every area they can, driving more and more people into homelessness or renter situations. All for the sake of financial gain
@@ModernRealtynw You just said a bunch of nothing. Of course taking a house that had crime in it and removing it sounds so great right?
Except thats not whats happening. Youre buying a house for the real value of that property, then putting as little effort into the house that maximizes profits for you. Im an electrician, what you do is dangerous and disgusting and should be illegal, house flippers are scum that add nothing to society. You are making your money off gentrification.
You provide zero value, zero benefits to any other humans and take away the ability for a middle class to exist; drug dealers are better people than you.
@expoSé greed? Just so you know every year we help a specific family in need during the holidays and also every year we actually go into the streets and help the homeless by giving them clothes and food. Just because you don’t like the way someone does business, doesn’t give you the right to call them greedy.
@@PlungingRealtor amen brother