How a Couple Bought 11 Rental Units in 5 Years (Starting $100k in Debt)
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- Опубліковано 7 чер 2024
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🎙️ Episode 296 - Discover the FI couple's invaluable negotiation strategies and powerful network connections that enabled them to secure $1.3 million in real estate. Be inspired as they share how they achieved financial freedom in 5 years, built a steady cash flow, and unlocked the secrets to optimizing their rental business.
📄 Show Notes: www.coachcarson.com/ficouple/
▶️ Next Video: Paying Off $100k in Debt While Investing in Real Estate (the FI Couple)
• Paying Off $100k in De...
🎬 Timestamps:
0:00 - No connections, no knowledge
2:43 - Paying of $100k
4:53 - How to get started even with debt
7:17 - 1st deal financing
9:41 - Scaling to $1.3 million
13:43 - How to find great deals
20:42 - 2023 deal
26:16 - Negotiation tactics
29:14 - Benefits of Seller Financing
35:43 - Deal numbers
45:38 - Treating tenants right
46:55 - Summary
🔗 The FI Couple's Deal Analyzer: theficouple.gumroad.com/l/dea...
🔗 Connect with the FI Couple:
Website: www.theficouple.com
Instagram: / theficouple
Twitter: / theficouple
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Bro is geekin out on some sort of stimulant lol, if you know you know, grats on all of the success you two
Amazing interview! Always inspiring! Thank you, Coach,
Great interview, thanks all!
This was very clear very concise and inspirational. Very good example of down to earth people.
Hi Coach , hope all is well with you and family. Great program as always
Very helpful Thank you for sharing
Hi Coach, where could I go to find "Market value comparable sales" in certain area?
Very impressive couple, and great interview. Thanks for finding them, Coach!
I am very interested to start being an investor, kindly help me to find a private lending. Thanks Eva
What happens if you seller finance and then after several years the seller decides they dont want to sell and prefer to keep it? Can they take it back?
No. You (the buyer) have a deed. You own it. Seller couldn't take it back unless you broke the seller financing contract, like not paying your payment. But even then you could sell it or refinance.
Incredible episode. Thank you! I am having a problem with letting my friends and family know that I am looking to buy rental properties. I have a goal to post something on facebook but I am a private person and that terrifies me. Any advice?
I would probably keep it private I’m looking to purchase my first investment property by the end of this year but my plan is to keep it private and I probably wouldn’t tell anyone until I’m at least on my third or fourth that’s just me I’m very private as well and wouldn’t want any bad energy to throw me off.
@@sergct47 how does keeping it private stop "any bad energy"? Many times, I feel, putting it out there helps because your friends and family can keep you motivated and be encouraging.
@@dncprops427 whatever works for you good luck on your journey.
Where are these people in NY??? Unless I misheard. It’s crazy prices here up to 2 hr from manhattan. Multiple offers, 100k over asking :(
Upstate NY.
What if I'm a "baby boomer", but I'm still looking to buy more properties instead of sell? 😁
Tell about how the tenants smashed holes in the walls,didn't pay rent, ripped the copper out of the house, and trashed the houses. Being a landlord is Such a joy.
I can't tell that story because it hasn't happened to me, although I've had a few rough stories of miy own. I'm sorry to hear if that happened to you. In my own case, screening tenants more diligently has avoided those problems for the last 15 years or so. Having great tenants really has been a joy for me.
I’ve been a landlord for 8 years and have 5 houses now. I’ve never experienced damages like you’ve sited but a friend has lost all his kitchen cabinets to a sledgehammer and an angry tenant. I would say have the right burglary rider with your landlord policy to prevent major losses.
With enough units, statistically, you will get a bad tenant, I feel, no matter how rigorous your screening is. Having reserves is the key to riding out all the storms of real estate investing.
9 months after I bought a brand new condo, my tenant was arrested for drugs, she stopped paying, broke the front door, etc. Sad to see all the damage to a brand new condo, but all my other doors, no pun intended, were OK.