How to Analyze a Single Family House Rental Property
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- Опубліковано 17 тра 2024
- ⭐ Join Rental Property Mastery, my coaching & learning community:
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🎙️ Episode 332 - Ready to dive into the nitty-gritty of single-family rental property analysis? Coach Carson guides you through a real-life example, breaking down the process step-by-step using tried-and-true tools. Whether you're a seasoned investor or just starting out, this episode is your ultimate guide to running the numbers and making savvy real estate decisions.
📄 Show Notes: www.coachcarson.com/analyzesi...
▶️ Next Video: My First Rental (17 Years Later) - How Much Cash Flow I Actually Made:
• My First Rental Proper...
🎬 Timestamps:
0:00 - Intro
0:59 - Back of the Envelope Analysis
1:27 - The 3 Ingredients of a Good Deal
2:50 - #1: Location
6:58 - #2: The Property Itself
10:56 - #3: Running the Numbers
23:41 - Using a Spreadsheet
37:37 - How Much Cashflow I Actually Made on my First Rental
🔗 Show Links:
• Coach’s Deal Worksheet (Desirability Checklist): www.coachcarson.com/toolkit-yt/
• Coach's Buy Box Video: • This is my Ideal Renta...
• BiggerPockets Rent Estimator: www.biggerpockets.com/insight...
• Coach’s Simple Rental Property Calculator: www.coachcarson.com/rental-pr...
• Coach’s Internal Rate of Return Video: • How to Calculate Inter...
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I watch your videos over bigger real estate UA-camr names. Because you are about efficiency you don’t have endless UA-cam money to throw at something you’ve actually worked things out in a way that saves money thank you so much!
thanks for your feedback and for watching my videos! It means a lot! 🙏
Thank you, real info, real education, real life examples, real learning! I am grateful and appreciative for the time you took to make this and spread your knowledge
I appreciate that feedback! Glad it was helpful, and I hope you find other videos on the channel helpful as well. Lots more to come every Monday!
Very helpful Thank you for sharing
Thank you for the video and for the effort.
my pleasure! thanks for watching.
Coach, your video improved a ton! What do you think about the new tool Airbtics for analyzing vacation properties?
Coach it's great to see optimized versions of your back in the days REI Math Videos. Very valuable explanation on the Virtual SURBAN analysis!!
thanks Roldan! Trying to go back to the roots while still making it fresh!
Love your breakdown approach but not sure how I feel about using zuber’s terms for buy box and alligators instead of more plain language
Yea please make a video on how you run comps/estimate value! T thank you for all that you do Coach! We are excited but also nervous to start our journey but with your guidance, it gives us a little bit more confidence to just go out there!
Will do!! And thank you for watching. Best of luck on the next steps of your journey.
@coach Carson, great simple presentation. Just curious, why not a field for the Cap rate?
Thank you! I do use cap rate / unleveraged yield a lot, but the intention of this spreadsheet was to just so simple cash flow and return metrics. However - it might be time for an upgrade since cap would be an easy addition. Thanks for suggestion!
Great video,ty!Would love to see one on comps!
thanks for the feedback! On my list.
Coach, do I get a single family home now to be able to put equity into it, or do I save a bit more and get a duplex later this year? If you had to choose?
Love videos like this!
Glad you like them! Thanks for watching.
Thanks Coach, this was a great video.
Thanks for watching!
Hey man, thanks for what you do. It's helpful and educational. Yes, I am certainly interested in seeing how you run comps, etc. to underwite deals and feel like you've done your homework reasonably well. I'm planning on deploying a lot of capital (close to 7 figures) this year, and I'm only mildly experienced in REI, so I've probably been overthinking deals I come across. I would really like to see what you do, how much time you spend on it, etc. before submitting offers.
Added to my near future videos list. Thank you!
In the meantime, good luck with your next steps deploying capital. I recommend starting simple with properties that are easy to understand (like single family house rentals). Walk before you run!
@@CoachChadCarson That's good advice. Thank you. I've walked a bit. I've been a landlord before, I am turning my current single family into a rental because I'm buying another one (had a 2nd kid, need more room) and I'm thinking triplex or quad (if I can find a good one that pencils out) or mixed use for this capital in particular. I also own a NNN single tenant with some family, so I'm trying to diversify a bit as well. Thanks for taking the time to reply and hope you feel appreciated by us YouTubies for your efforts.
You're video is excellent! I would love to see a comping video analyzing local comps and the value of our own properties. Could you show us with caps rates and traditional comps?
Great suggestion! thank you.
Yes, I'll do one with comps/comparative market value and another with income approach.
I do have a cap rate video I made a while back: ua-cam.com/video/9X_1k1w6u3c/v-deo.htmlsi=l8wyJ1UYRl8uX5TW
This is great! Thanks coach. Are you buying these properties in LLC or in personal name?
Mostly LLCs
@@CoachChadCarson mine are all in LLC as well. Which means interest rate is fixed for 5-7 years amortized 25 years. Is that the case for you?
Great video. Already shared with a few would-be investor friends
Thanks for sharing! That's the biggest compliment you can pay me!
Thanks Coach
thanks for watching!
I've heard so many rules of thumb for operating expenses. 30-50 is most common. Would you mind doing a video on how you run detailed operating expenses?Include things like Vacancy, Maintenance, Capital Expenditures. Lawn care, and anything else that most people don't think of?
Great suggestion! Thank you. I've added that to my "how to run the numbers" video ideas.
@CoachChadCarson ❤️ awesome! I appreciate you taking suggestions. Looking forward to it. Keep up the great work!
Do sellers actually take a 30 year term? That seems a long time to get money from a sale of a home.
Interesting house example that you're using in this video. The Zillow Zestimate on that house increased 85K in 6 months?
Zestimates fluctuate sometimes. Not sure why in this case.
good
I enjoyed the video. I downloaed the calculator excel spread sheet. It looked like a blank sheet with no data or formula in it. It was completely unhelpful for me. Am I missing something? Thanks
Something doesn't sound right. The spreadsheet has a lot of formulas and is just like the one I used in the video. Did you try this link to download it: www.coachcarson.com/rental-property-calculator-spreadsheet/
Make sure to use tab 2 where the formulas are. Works best if you save it on your computer or Google Drive and manipulate from there.
As long as u look at buying in any state you can find good deals major coties is harder
I like you dont minimize repairs and capex. Those can be very expensive
School of hard knocks!!
IN CANADA YOU HAVE TO SPEND 400K FOR GARBAGE HOMES. LOTS ARE 300K EVERYWHERE
yeah, prices are high relative to rents in parts of Canada and big cities in US.
But it’s Canadian dollars so still not as bad as the coasts in the US
Who has 60k for a down payment... I must be watching the wrong channel
I had to partner with others to get started. I didn't have $60k (or even $10k). Nothing wrong with having 50% or even 10% of something instead of 100% of nothing. There are plenty of people out there with money who'd partner with you if you find good deals and demonstrate they can trust you.