I started watching your channel while deployed last year. Came home and bought a duplex that needed a full gut and renovation. Almost done now, but have managed to turn one unit into a successful AirBnB unit and converted the other unit from a 2/1 to a 3/2 unit to increase rent potential. In the meantime, we’ve managed to purchase 3 other rental properties, so we now have a total of 8 doors. Thank you for all of the videos, podcasts, and info you’ve put out there! We love your channel!
@@ivinalatham34 there is a way around that I just bought a 4 plex with a VA loan the catch is I have to live in one of the units for one year then I'm free to move out and on to the next one....
Renovation is important to attract more tenants or prospects for your property. Don't be thrifty on your business, if you put money on it your business will help you in the long run. Keep it up man and great video as always.
Thanks for taking the time to upload this. My Mom has decided to deed us 7 properties free and clear. May God continue to cause His face to shine on you and yours.
I just want to say thank you! I have been flipping homes for 23 years and I started holding instead in the past 4 years thanks to your advice. We are now up to 18 doors. I’m great full for you and your wife.🥰
You give Real useful info! Some bloggers only make noise, nothing to learn, absolute waste of time. Used to watch your videos from Dubai also before. Great job. May God bless you for sharing your knowledge with the rest of the world. 🙏🙏🙏
GREAT VIDEO and NICE JOB!!! You do rehab much like I do. I like it. Keep it fresh and simple. I normally switch to a 200 amp load panel even if old houses have 100 amp. I also replace the plugs and switches and plates with new white.
I love the simplicity and practicality of a rental renovation.. Is it strange I want these renovations for my own place? 😂 I don’t see the hype in buying the fanciest expensive materials in any home. The cheap & durable materials make me happy
Yeah I've watched this dude on TV since the early 2000's. It seems like an honest caring guy. But stuff like this makes me wonder. It could just be that he has a good deal due to volume but it would be nice if he would explain it.
Clayton, I love your videos! My husband and I went through complete financial ruin a few years back. So we bought a gorgeous old 1929 Craftsman Bungalow that needed work in a B to C area. It was a foreclosure, and we used what was left of my teeny tiny 401K to buy it outright. I would rather die than pay rent. We basically paid less for the home than for a decent used car! We've lived here around five years, and done quite a bit of loving renovation. But the area is not where we want to be. We're desperate to finish the reno on the bungalow and dump it. It's just not a good fit for us, as we are getting older. Selling seemed like our only way out, though we both knew the real estate in this area is not very strong. We knew not to expect a huge profit, especially after so much reno. Last winter I sold my other little house and dumped all the proceeds from that into buying a duplex in a much nicer state. It is strictly an investment; we do not plan to live there. I tell you all this because something you said has given me newfound freedom; at least in my thinking. After watching your videos, we've decided the best thing to do is finish up the main things here then rent it out! We don't owe a dime on this home so it won't take us long to gain far more in rental income than we ever could by selling! We're so excited and are also thinking of leveraging this home to try to gain another duplex in a nicer area. Retirement does not seem nearly so scary now! One more thing, "cement" is technically a powder that comes in a bag, when mixed with water, sand, lime and other aggregates "cement" binds them all together to make concrete. No one ever really "falls on the cement", they fall on the concrete. I always try to use the correct terms when working with people in the trades as I want them to take me seriously. Just something my Father taught me! God bless you, we'll keep watching!
Hi there! :) Have you seen his videos talking about rental ROI? It essentially boils down to rent, taxes, and expenses. From what I can understand, the formula for a rental's ROI is: ROI = (monthly rent * 7.8) / (home purchase price + all repairs) I got the 7.6 number by taking out conservatively 35% for taxes. Usually you multiply monthly rent by 12 (to get annual) and then take out the 35%, but I deducted the 35% before doing other maths.
@@jamesmoriarty9603 it depend some on the renter turnover and taxes. In Texas we pay about 4% for taxes and insurance. If you can keep long term tenant happy then it helps a ton.
Clayton, I watch and read a lot of your material, but your numbers seem really off. Please show material and labor. One window installed is $300-$400 each. 10 standard size windows would be at least $1,500-$2,000 for material
He’s doing tons of deals with these contractors they probably have work lined up with him for next 6 months at least, they’re giving him great deals since they work with him a lot
Morris how often do you invest in properties that need the entire subflooring replaced and drywall stripped down to the studs or do you avoid investment properties that need these types of extensive repairs?
Hi Clayton, Thank you for the great content. I have a problem. I have owned a rental property for 17 years with the same tenants in it. This place is in bad shape and I want to totally refurb it and 1031 out of it into something that makes a better rental. Most flip videos talk about finding the deal and getting funding. I have the property and the money for the rehab, but I have no idea how to find contractors to do this extensive remodel. I guess my question is "How do I find my refurb team?"
What's the name of the color of the siding? That's very nice and I'd like to use it. Blue is always either too blue or not blue enough and feels gray almost. This is a nice middle ground.
How do you profit from section 8? From my understanding section 8 is government assistant so there rent it half the if not a quarter of the price. Do you get paid by the state? Or is there some type of agreement
Quick question on the cabinet: they look so gorgeous in white for this size of house, modern and visually more spacious than dark colors! But it's easy to get stained also, how do you handle it after first tenant move out? Especially if first tenant only stay for one or two years. Repainting sounds too pricey, but regular clean might not bring back the original beauty, if tenant does not take good care of it .
How was completely new siding only 4k? I guess this was cheaper in 2019, but your interior renovation of 8k is crazy too. Prices have really gone up an absurd amount. I might be closing on a duplex and it needs a little bit of work. But nowdays, construction is just so outrageous how is a beginner investor supposed to make things work when your paying 2-3 times more than project costs from 3-4 years prior?!!
@@RedactedNews amazing to get it done that cheap. I can't see how... wow... I would have estimated having to pay a lot more for appliances, repairs, labor...etc...
None of this formula you have going would be working without good contractors that don't up sell you or do crap work that will need to be re-done in a couple of years. Ever consider doing a video on how you are finding these mystic unicorns?
@@julielu6097 Either the labor is free or those expenses were way higher. I would say 17, 500 a side if I were to guess. But wait...foundation fixed also? New Roof? ...New Furnace...etc etc. I think it turned in to an alligator. Looks nice though.
Finishing up a total rehab Inman in Michigan going to do the floors what do you recommend there's hardwood that's not rehireable we have tile in the new kitchen and bath laminate or vinyl what do you think
I really like your videos and your rehabs! I'm starting to invest in properties, and I am wondering where fonyou invest the most. I know that all numbers change from state to state. But here in IN, numbers are getting higher every time and harder to cash flow with the prices getting more expensive every time
Clayton, what has been your experience when it comes to VCT flooring vs. vinyl plank flooring? I'll be closing on 6 properties next week and was planning to use vinyl plank because of the durability. Up until now I always used carpet which was a pain because I had to replace the flooring on each turnover. How many turnovers do your vinyl tiles usually last? Is there a certain product that you like to use?
@Tarzan Tiles chip & crack when something extremely heavy falls on them. I've seen it many times. What if the style & color you pick out is later discountinued? You'd still have to replace the entire floor.
I currently own one duplex that needed minor updates and I have been renting it for about 2 years now, I love it. I am in the market for another duplex, anything I should know that I should stay away from? Thank you! Love the videos.
Great video Clayton, this is a thumb up. I live in Maryland, the cost is rather expensive. Would you share your tactic on how to negotiate the renovation projects? Do you hire people full time? Thank you
That’s an interesting choice on flooring. Is that the light blue with the small speckles? The tenants don’t find it to be an eyesore? I’ve been wondering what kind of flooring I was going to use and was leaning towards faux wood vinyl but if that stuff works for you then maybe I’ll give it a try. Please let me know!
Hey Mr Morris...what vehicle should i have as a real estate investor? A pick up truck to get supplies? An economical car to zip around..or a luxury car for presentation purposes?
Im trying to work on renovating a house my granddad used to own he got really sick and lost the ability to take care of his properties . If you could give me some pointers that would be great so I can get started
Hi, great video. Thank you for showing us step by step. What should I be ordering if I wanted those basic cabinets and countertops? I see it’s Hampton Bay, but is there a model type I should be asking for rental?
I am curious as to how the entire Renovatuon cost 18,000. Rounding up? When I ask for a small 10x10 kitchen remodeled I have quotes for the basics for 19,000. I have another property that needs renovation for rental so I’m believing when you renovate you get more bang for your buck. So my question is how do you get a contractor to do all the renovations for that price point? Do you purchase your supplies and that’s really labor? The 18,000.???
Morris Invest cement on the side ofThe house because it’s mostly dirt and on the front of the house too. However I’m not sure if we should add any more money into this new rental because we already invested about $20,000 including labor what do you recommend? It’s going to be our first rental property we’re in California
How were you able to get 10 windows for $1500?? I lived in Jersey and 17k for all that work seems very low but amazing find. Would you mind sharing your contractor's information?
Morris Invest well then, very cool!!! I’m about to open an Airbnb in about a week, tying up loose ends. I’ve bought a $500 program for Dean Graziosi last fall and DID the program with writing notes. I began meeting up with meet up groups in REI and have met some mentors that are going to mentor me one on one at the end of this month in wholesaling RE. About to delve in to buy and holds. I have my eye on 3 homes within a 10 mile range from me. I would LOVE to be mentored by you guys for buy and holds. So I’m going to contact your Co. as you instructed at the end of the video. Thanks for your time.😊
Great video, thanks for all that info! My fiance and I just bought our first property. It is a 2 unit owner occupied house, we are almost done with reno on the rental. What would you say a solid 3 step plan would be to go from our 2 unit owner occupied house to owning multiple properties? Any input would be greatly appreciated!
To paint the interior of a multi family I bought the painters wanted to charge me $6000 to paint the walls all the same color. In what state are these contractors your working in?
Great budgets with your renovations. I do one third of the actual work on my Rentals ie, hot water heaters, cabinets, floors an new electrical panels and drop ceilings in order to fix any leaks quickly and my budget was about 75 % of yours. You did great for not doing any work yourself lol.
I started watching your channel while deployed last year. Came home and bought a duplex that needed a full gut and renovation. Almost done now, but have managed to turn one unit into a successful AirBnB unit and converted the other unit from a 2/1 to a 3/2 unit to increase rent potential. In the meantime, we’ve managed to purchase 3 other rental properties, so we now have a total of 8 doors. Thank you for all of the videos, podcasts, and info you’ve put out there! We love your channel!
Awesome, way to take action!
How were you able to get financing on these properties?
@@billschram5465 probably a VA loan helped him considering he said he was deployed.
Великий Рен VA loans are only for Primary residences. Cannot purchase rental homes with it.
@@ivinalatham34 there is a way around that I just bought a 4 plex with a VA loan the catch is I have to live in one of the units for one year then I'm free to move out and on to the next one....
Renovation is important to attract more tenants or prospects for your property. Don't be thrifty on your business, if you put money on it your business will help you in the long run. Keep it up man and great video as always.
Thanks, Shane!
Thanks for taking the time to upload this. My Mom has decided to deed us 7 properties free and clear. May God continue to cause His face to shine on you and yours.
What a blessing!! Generational wealth at its finest.
Lucky you
Sheesh, gotta be nice
I just want to say thank you!
I have been flipping homes for 23 years and I started holding instead in the past 4 years thanks to your advice. We are now up to 18 doors. I’m great full for you and your wife.🥰
In order for me to buy a property to renovate,how much does it actually cost to buy a home that needs renovation ?
You give Real useful info! Some bloggers only make noise, nothing to learn, absolute waste of time. Used to watch your videos from Dubai also before. Great job. May God bless you for sharing your knowledge with the rest of the world. 🙏🙏🙏
Great video! Love these single story duplexes. Wish they were available in our area. I imagine they will be easy to manage
GREAT VIDEO and NICE JOB!!!
You do rehab much like I do. I like it. Keep it fresh and simple.
I normally switch to a 200 amp load panel even if old houses have 100 amp. I also replace the plugs and switches and plates with new white.
I love the simplicity and practicality of a rental renovation.. Is it strange I want these renovations for my own place? 😂 I don’t see the hype in buying the fanciest expensive materials in any home. The cheap & durable materials make me happy
Approved for mortgage. Building starts in 30 or more days. Decided to rent the house I payed off.
10 windows for $1500? Wow, must be nice....lowest quote I received here in Georgia just last week for 10 windows was $3800. Keep up the good work.
he must have a deal with a local contractor since he does this all the time.
Keith C. Brown no way. Must not include labor
Yeah I've watched this dude on TV since the early 2000's. It seems like an honest caring guy. But stuff like this makes me wonder. It could just be that he has a good deal due to volume but it would be nice if he would explain it.
In Cleveland you can get good quality windows installed for $150 a window. Affordable Window Company.
That is a ridiculously low price. It costs us more than that and we installed our own. Great job.
Clayton, I love your videos! My husband and I went through complete financial ruin a few years back. So we bought a gorgeous old 1929 Craftsman Bungalow that needed work in a B to C area. It was a foreclosure, and we used what was left of my teeny tiny 401K to buy it outright. I would rather die than pay rent. We basically paid less for the home than for a decent used car!
We've lived here around five years, and done quite a bit of loving renovation. But the area is not where we want to be. We're desperate to finish the reno on the bungalow and dump it. It's just not a good fit for us, as we are getting older. Selling seemed like our only way out, though we both knew the real estate in this area is not very strong. We knew not to expect a huge profit, especially after so much reno.
Last winter I sold my other little house and dumped all the proceeds from that into buying a duplex in a much nicer state. It is strictly an investment; we do not plan to live there.
I tell you all this because something you said has given me newfound freedom; at least in my thinking. After watching your videos, we've decided the best thing to do is finish up the main things here then rent it out! We don't owe a dime on this home so it won't take us long to gain far more in rental income than we ever could by selling!
We're so excited and are also thinking of leveraging this home to try to gain another duplex in a nicer area. Retirement does not seem nearly so scary now!
One more thing, "cement" is technically a powder that comes in a bag, when mixed with water, sand, lime and other aggregates "cement" binds them all together to make concrete. No one ever really "falls on the cement", they fall on the concrete. I always try to use the correct terms when working with people in the trades as I want them to take me seriously. Just something my Father taught me!
God bless you, we'll keep watching!
Excellent! Thank you so much for sharing this. 🙏🏼
Wow! Can't get anything done for those numbers here in California. Nice video!
I love the sound of rehab!
Curious- after purchase, taxes, insurance and Reno costs..are these units producing positive cash flow on a monthly basis? If so-how much?
where is the cost of the electrical? Flooring? Furnace? Hotwater Tank?
And labor cost?
On a design standpoint, this renovation looks very good!
I love this show from South Africa
Super cool production! Love the edits, we do Renos too! Keep up the great work!
Great video but would've liked for you to talk a out the breakdown of all financials so fully understand the ROI
Hi there! :) Have you seen his videos talking about rental ROI? It essentially boils down to rent, taxes, and expenses. From what I can understand, the formula for a rental's ROI is:
ROI = (monthly rent * 7.8) / (home purchase price + all repairs)
I got the 7.6 number by taking out conservatively 35% for taxes. Usually you multiply monthly rent by 12 (to get annual) and then take out the 35%, but I deducted the 35% before doing other maths.
@@jamesmoriarty9603 it depend some on the renter turnover and taxes. In Texas we pay about 4% for taxes and insurance. If you can keep long term tenant happy then it helps a ton.
Always excellent content. Thank you Clayton! Keep them coming.
Thanks so much for the kind words.
Thank you Clayton. Very valuable information.
Love that you provide specific costs!
oh my word...lol i had close my eyes so i didn't get dizzy...from movement of the 📷
Clayton, I watch and read a lot of your material, but your numbers seem really off. Please show material and labor. One window installed is $300-$400 each. 10 standard size windows would be at least $1,500-$2,000 for material
He’s doing tons of deals with these contractors they probably have work lined up with him for next 6 months at least, they’re giving him great deals since they work with him a lot
Thanks for walking us through this process. Great video.
So glad you liked it!
Morris how often do you invest in properties that need the entire subflooring replaced and drywall stripped down to the studs or do you avoid investment properties that need these types of extensive repairs?
Hi Clayton, Thank you for the great content. I have a problem. I have owned a rental property for 17 years with the same tenants in it. This place is in bad shape and I want to totally refurb it and 1031 out of it into something that makes a better rental. Most flip videos talk about finding the deal and getting funding. I have the property and the money for the rehab, but I have no idea how to find contractors to do this extensive remodel. I guess my question is "How do I find my refurb team?"
Damn you really did the bare minimum of some things. That’s one sad mirror in the restroom. Also that easy bake microwave lol 😆
Looks nice. I am glad things are coming along.
Thank you for this video please keep posting renovations n price love it. 😍😍😍😍
How do you get your prices so low for renovation (parts and labor)??
I was thinking the same thing
@@johneybishop9275 me too.
I don’t think he counted hvac furnace and roof
I’m sure it’s area specific but I know I probably couldn’t get those rehab numbers even doing the work myself
We're probably going to go for vinyl flooring in the home in Michigan
What's the name of the color of the siding? That's very nice and I'd like to use it. Blue is always either too blue or not blue enough and feels gray almost. This is a nice middle ground.
How do you profit from section 8? From my understanding section 8 is government assistant so there rent it half the if not a quarter of the price. Do you get paid by the state? Or is there some type of agreement
What do you think about a collateral on to scale up
Quick question on the cabinet: they look so gorgeous in white for this size of house, modern and visually more spacious than dark colors! But it's easy to get stained also, how do you handle it after first tenant move out?
Especially if first tenant only stay for one or two years. Repainting sounds too pricey, but regular clean might not bring back the original beauty, if tenant does not take good care of it .
white paint is cheap...so is hardware.
I close on my first one next week. 🤞🤞
Great job!
What type of flooring are you using?
How was completely new siding only 4k? I guess this was cheaper in 2019, but your interior renovation of 8k is crazy too. Prices have really gone up an absurd amount. I might be closing on a duplex and it needs a little bit of work. But nowdays, construction is just so outrageous how is a beginner investor supposed to make things work when your paying 2-3 times more than project costs from 3-4 years prior?!!
Yeah, 10 widows at $1500, no way anyone is paying that (unless they buy the cheapest lowest quality premade windows and install themselves).
How do you find a RELIABLE crew in each different areA? I have plenty of opportunities but I without a trustworthy team this doesn’t work
We will make a video on this! Thank you.
That's what I like to see... Numbers.
Glad you liked it!
What kind of flooring was that at the end? Didn’t look like luxury vinyl plank.
great info,thank you! did not include cost of heating/water heater unit if any added to cost overall?
do these numbers include labor?
Yes!
@@RedactedNews amazing to get it done that cheap. I can't see how... wow... I would have estimated having to pay a lot more for appliances, repairs, labor...etc...
Fabulous, I love it. great property.
Thank you!
How much did you buy these properties for?
None of this formula you have going would be working without good contractors that don't up sell you or do crap work that will need to be re-done in a couple of years. Ever consider doing a video on how you are finding these mystic unicorns?
Love your videos Clay! Is the $17,500 renovation cost how much you paid to renovate both units? Or were they $17500 each to renovate? Thank you!
Did he ever respond?
@@julielu6097 Either the labor is free or those expenses were way higher. I would say 17, 500 a side if I were to guess. But wait...foundation fixed also? New Roof? ...New Furnace...etc etc. I think it turned in to an alligator. Looks nice though.
@@ateesband6116 1500 for 10 windows...not where I live.
@@friendlyfire7861 exactly
Recaro carseat is the best carzeat ever!!
So how much is needed or recommended to put into a property to no go overboard on overall cost to benefit? Thanks
Thank you brother!. Great info. God bless!
Finishing up a total rehab Inman in Michigan going to do the floors what do you recommend there's hardwood that's not rehireable we have tile in the new kitchen and bath laminate or vinyl what do you think
LVT. Also recommended by Kate Rumson of The Real Houses of Instagram.
I really like your videos and your rehabs! I'm starting to invest in properties, and I am wondering where fonyou invest the most. I know that all numbers change from state to state. But here in IN, numbers are getting higher every time and harder to cash flow with the prices getting more expensive every time
Great video! How were you able to get the 10 vinyl windows and installation for only $1500? Was the installation included with purchasing the windows?
Same question 😉
I like the information Morris! How much did you pay for the property?
This property was around 70K. But I bought it as part of a large package of 10 properties.
@@RedactedNews So, $87,500 roughly, for 2 incomes. That's not bad. Not bad at all!
@@RedactedNews wow, 70k, gotta add one zero to the end to buy the same house in southern California 🤣🤣
What type of floors do you use for your rentals?
What is the cost to actually buy a property that needs to be renovated ?I'm thinking about purchasing a property in the near future
Hi, can I ask what areas these properties are in? Mark Berge
22:30 time he says the rents. $950 per side
I’m glad I stumbled onto your page, great information.
I'm glad too! Happy to have you, John!
I'd like info on the kitchen cabinets and counters. I'm about to redo my rental
Hey where do you get the extra money to Renovate your rental properties? Do you get a larger loan to cover the cost of renovation ?
Clayton, what has been your experience when it comes to VCT flooring vs. vinyl plank flooring? I'll be closing on 6 properties next week and was planning to use vinyl plank because of the durability. Up until now I always used carpet which was a pain because I had to replace the flooring on each turnover. How many turnovers do your vinyl tiles usually last? Is there a certain product that you like to use?
@Tarzan Tiles chip & crack when something extremely heavy falls on them. I've seen it many times. What if the style & color you pick out is later discountinued? You'd still have to replace the entire floor.
What kind of cabinets you recommend on a investment property? Big box store or custom made ?
I currently own one duplex that needed minor updates and I have been renting it for about 2 years now, I love it. I am in the market for another duplex, anything I should know that I should stay away from? Thank you! Love the videos.
We would love to help you with your second property! morrisinvest.com
That’s interior renovation and windows is a steal. Which state is this?
Any updates on a comparison between purchase price and appraisal value after work has been done?
Game on!
I know this is 2 years old but new LVP floors with installation for 1500 sq ft are over $20k in my area. $17k total… how?😭
Good information!
Great video Clayton, this is a thumb up. I live in Maryland, the cost is rather expensive. Would you share your tactic on how to negotiate the renovation projects? Do you hire people full time? Thank you
We'll make a video on this!
Old video, new day!
MrGe44 is this an old video???? How long ago? Is this damage control?
Yes it is I saw it a few months ago?
Michael Bruce what do you mean when you say "Damage Control"?
Sean McIntire hey Sean why not?
That’s an interesting choice on flooring. Is that the light blue with the small speckles? The tenants don’t find it to be an eyesore? I’ve been wondering what kind of flooring I was going to use and was leaning towards faux wood vinyl but if that stuff works for you then maybe I’ll give it a try. Please let me know!
It's more of a gray/neutral color!
Morris Invest do you have any other videos or maybe photos that I can get a better feel for them?
Just curious, why use carpet at all?
Hey Mr Morris...what vehicle should i have as a real estate investor? A pick up truck to get supplies? An economical car to zip around..or a luxury car for presentation purposes?
Depends on your needs!
@@RedactedNews i need to save gas..look professional..and be handy...maybe a black platinum ecoboost truck?
Im trying to work on renovating a house my granddad used to own he got really sick and lost the ability to take care of his properties . If you could give me some pointers that would be great so I can get started
Did they finish the sheetrock work before electric? If so, do they have to do any rework on the walls?
How long did the renovation take for internal and exterior? We're about to purchase 2 flat to renovate and rent.
Hi, great video. Thank you for showing us step by step. What should I be ordering if I wanted those basic cabinets and countertops? I see it’s Hampton Bay, but is there a model type I should be asking for rental?
I am curious as to how the entire Renovatuon cost 18,000. Rounding up? When I ask for a small 10x10 kitchen remodeled I have quotes for the basics for 19,000. I have another property that needs renovation for rental so I’m believing when you renovate you get more bang for your buck. So my question is how do you get a contractor to do all the renovations for that price point? Do you purchase your supplies and that’s really labor? The 18,000.???
Hi Clayton do you recommend adding concrete to a rental property?
Concrete countertops?
Morris Invest cement on the side ofThe house because it’s mostly dirt and on the front of the house too. However I’m not sure if we should add any more money into this new rental because we already invested about $20,000 including labor what do you recommend? It’s going to be our first rental property we’re in California
Great video. Your newest subscriber. :)
Hey thanks! Glad to have you here.
What kind of countertops did you use?
How much did you pay for the workers or contractor?
Is it seriously that cheap to put in new windows??? I’m surprised but very happy to hear that. What’s the catch though?
No catch in chicago we have a window several guys who put new windows in for the same price.
What is the breakdown. ? Purchase price, repairs, arv?
was that a RECARO baby seat!!!!!! lol NICE!!!!!
Good eye! Yes.
How do you keep your costs this low?
How were you able to get 10 windows for $1500?? I lived in Jersey and 17k for all that work seems very low but amazing find. Would you mind sharing your contractor's information?
Great video , even thou this property has 2 deeds , does that mean you’ll need 2 hard money loans if a beginner were to buy and rehab it ?
Looks Great!! You listed the cost of all the renovation except for the cost of hiring a contractor. Do you mind listing that cost as well?
Hi Rhonda! This includes labor costs.
Morris Invest well then, very cool!!! I’m about to open an Airbnb in about a week, tying up loose ends. I’ve bought a $500 program for Dean Graziosi last fall and DID the program with writing notes. I began meeting up with meet up groups in REI and have met some mentors that are going to mentor me one on one at the end of this month in wholesaling RE. About to delve in to buy and holds. I have my eye on 3 homes within a 10 mile range from me. I would LOVE to be mentored by you guys for buy and holds. So I’m going to contact your Co. as you instructed at the end of the video. Thanks for your time.😊
Great video, thanks for all that info! My fiance and I just bought our first property. It is a 2 unit owner occupied house, we are almost done with reno on the rental. What would you say a solid 3 step plan would be to go from our 2 unit owner occupied house to owning multiple properties? Any input would be greatly appreciated!
Way to go, Timothy & fiance! There are a lot of ways to grow your portfolio, it just depends on your situation. Check out this video: bit.ly/2RjYqf0
I need to raise my rent up
To paint the interior of a multi family I bought the painters wanted to charge me $6000 to paint the walls all the same color. In what state are these contractors your working in?
This was NJ!
Any trim work done on that roof at min 19 where your waiting for the tenant to move into? You can see it's not finished off well..
Yes that still needed finishing along with a few other small punch items.
I didn’t know Keanu Reeves does real estate investing on the side
Great budgets with your renovations. I do one third of the actual work on my Rentals ie, hot water heaters, cabinets, floors an new electrical panels and drop ceilings in order to fix any leaks quickly and my budget was about 75 % of yours. You did great for not doing any work yourself lol.
Thank you, Frank! Where are you investing?
Can you recommend some good contractors in the detroit Michigan area?
ok those numbers are ridiculously low. how do you negotiate that?
I would suspect volume.
@@lillianbradley6964 yeah but seems a little strange that he would present these numbers as though anyone can get these prices.
ROI doesn't work with me If you consider house costs 100k and rent price is just 700. What can you suggest me to do?
Sell that house and buy two $40,000 houses.