If you find this video valuable, please consider sharing it with someone who could benefit from it. Your support helps our channel grow and motivates Ken to keep making videos like these. Thank you
Ken, Can you and your team discuss and do a video on the format you all used starting out to set up your business? For example, setting up an llc in Wyoming and then structuring your houses or units in individual llc's? Thank you,
I really don't know what your talking about passive income means you earn money in your sleep if you own 24 apartments put in just 2 hours week per unit 50 hours a year calling someone to fix something in your apartments paying them getting back to them something else at 30 dollars hour pay and benefits if you work in apartment management thats 75000 dollars in active management of properties. Even if you own the units out right make 6400 per unit thats 76000 passive income at 24 units worth 170000 a unit thats a passive cashflow of less than 2% I know someone that lives in apartment the upkeep on the property is enormous and the buildings not that old.
In my opinion, house prices will continue down as people leave the state and prices correct due to market pressure. The problem with Florida is the property taxes increased based on the boom and the cost or inability to obtain homeowners insurance. Florida's in for a rough 5 years imo.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a broker, before I started seeing any significant results in my portfolio, been using the same Adviser and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
Teaching my son with this. 7 rentals almost paid off, retired at 55. Selling one and buying a boat to cruise the Caribbean. Yeah it’s possible, I did it.
What was your starting point- jf that’s even possible to define? Everyone has different income/assets when the rental light goes on, so curious what each person had to do to make it
I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
I agree! That's why it is advisable that you have to invest while you still have a regular job or earning a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation is the key.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
This is 100% true to a tee. I have 19 tenants and it's ALL about the deal because that allows you to recycle capital much faster the better the deal is or get to the next deal much faster the better the cashflow is.
Being a landlord is not "fully passive". It takes time and work, whether you have a PM or not. It's probably 50% "passive". Being an LP in a syndication is as close as you can get to being "fully passive".
10 rental properties and 13 Storage Condos all achieved in 10 years. It’s possible, Just have to be laser focus, have a great system in place to run your business, and learn from your mistakes and don’t repeat it. As for me, it wasn’t until the 5th home that is when the income started snowballing. Great information and content here and thx for sharing!
Purchase (2) modest investment rentals. (I own 4.) It is a part-time hands-on business and a ticket to a comfortable retirement if you are willing to deal with the headaches. I buy clean low-mileage cars in cash and I carry no balance on credit cards. I "retired" 10 years ago and my portfolio is worth more now (inflation considered). I will not outlive my resources if I live to be 100.
I waited at a red light today, next to a bus with an ad on it for people who needed help with getting out of debt. And it hit me: I have zero debt! I owe nothing to anyone! Oh, what a feeling, what a rush (as that song says). Some people may think this is nuts, but let me tell you, it is a feeling as good as the paid off mortgage. And having large stocks of food allows you to replace those necessities only when they are on sale, so you keep saving money long term. I’m so glad I took my Investment journey serious and with my financial advisor, I have been to achieve my goals.
Absolutely! Just like Howard Marks, says the same thing about his investment philosophy. Once you know what your values are, consistency is the key to success while respecting those values.
Find financial advisors like Becky Lou Gordon who can assist you. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I just closed on my second property that I will use as rental! Thanks to you two and your wisdom I will be starting my journey of owning mulitple properties. Cheers!
Mrs Lucy Mary Liam unique strength lies in her realistic approach which makes her different from other brokers that often set unattainable targets and fall short in delivery.
I have 6 paid off rental properties and this is not passive income. If you are only cash flowing a few hundred dollars per month, you are only one major repair away from a loss for the year. That said, I love it. But, a lot of these RUclips channels make it look too easy.
Yeah I only have one and looking for another. Like you said, it's work. With interest rates the way they are most are zero income for a few years which sucks.
@@martinenej3109 I do outsource management for my out of state properties. I will likely outsource my local properties one day, but I hate giving up 10% of my income.
It’s definitely passive income depending on a your situation. You just described a scenario where it’s not. Someone else owns 6 and has a major repair or 3 and it still cash flows plus they get to write off expenses.
Who in the world is buying properties that cashflow $300-400 with traditional rentals nowadays? I don't see how that's even possible esin today's market. Unless you're putting 30-40% down, everything that isn't falling apart is cashflow negative.
I just keep buying primary residences and moving. The moving gets old, but it’s paying off closing on another one hopefully before the end of this month
Great video. I am 10 days away from acquiring my second rental property and I started in my mid 30s. I have also 3 pieces of land that generate cashflow plus a decent chunk of money invested in the market. I am always looking for deals, try to talk to people, generate a network of smart people. I live in Italy btw, so I think it's a little different here than it is in the USA, but still doable
@@farkasbence I rent them. They are lands on which my father used to cultivate and simply rent them out with the same stuff (flowers, plants etc.) Sorry, my english is not perfect, but I hope you understand
My friend did this in the 2000s. He saved the income from his first property to put into the 2nd, etc. Property prices were booming at the time so he could roll that equity into the next property. When the financial crisis hit in 2008 I would assume he had a couple of million euros in mortgage debt across 10+ properties, with a very low equity position. The property prices in our city (non-US) dropped by around 30% and he was totally and completely wiped out. He lost his own home, his cars, his wife walked out, and he basically cracked mentally and had a kind of breakdown. 16 years later and he still lives back in his childhood home with his mother, a broken man. So by all means, follow the same pattern if you want that 'passive income' (it isn't passive btw) and capital gains. But don't pretend it's low risk, because while the upside can be good if the stars align in your favour, the downsides of the extreme leveraged debt are very real.
He probably pulled HELOCS on every property to finance the down payments for the next one which created a house of cards because not many people know that HELOCs can be called all at once at any time for any reason and if that money can’t be paid back at that moment they take the collateral. Which is the property.
@ Nah, rates went up where he lived (Ireland) and house prices plummeted. He had used equity from house A to fund house B etc. as prices went up. Very stupid.
I seen no increase after my 2nd. Was not able to buy the third. The cost of housing went up so high for the next one. Also, I've had to replace the furnace and boiler in 2 units, completely drained my emergency fund and maintenance account.
That's the point. It will become a renters market and you won'tbe able too like before. That's exactly why black rock was buying up so much. They will sell them off probably in 2-4 years from now and then sell.
oh, thank you for this video, it greatly encouraged me. I appreciate the positive heads-up. I am so early in the game, and so much of a beginner, but hearing your experience in "compounding property" struck a responsive chord that boosted my attitude about this process, and encouraged me to keep learning and keep trying and taking the steps. thank you
“Your tenant is paying your mortage” This is true on countries with low interest rates, take Brazil as an example: i bought 2 rental properties this year, both for short rental, the interest on a mortage here is 11,25%! Impossible to have a reasonable positive cash flow, if you’re lucky its gonna be an even game. So i saved money, bought these 2 properties with money enough on my savings to pay the mortage of the 1st property in ~16 months (savings+salary), after this point ill have 2 properties paying for 1, then the game starts to make sense…
I love this can of information it motivates me to keep going thank you Ken and Daniel you guys are my RUclips mentors , I’m in that beginner situation and living in California 😅 trying to execute my first rental property next year 😁🙏🙏🙏
You guys are so positive so its a pleasure to watch your videos. How to find good tenants another question after cleared with HOA. Had great tenants several years ago, hope will get lucky again :)
The problem is now that the house prices are high, interest rates are still high but rents are getting low and low. So cash flow positive rental property is getting harder and harder
Thanks for this! We are interested in buying our 2nd rental in Affordable Housing. How do we even find these types of rentals? Is there a specific website we have to find these on? We are in Florida (fyi)
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Educational video on the topic, it is exactly what I wanted to know. It looks like the channel has some other nice topics too and I am looking forward to hearing them. Note to whoever is editing this video and controlling the zooming in and out-it is very bizarre, we know why you are doing that and don't do it. Not only is it unnecessary but it is distracting as well. Perhaps this was one of Ken and Danille's first videos, and they tried too hard (or did not think about it at all) on the layout or set up, I am sure they will get better with feedback. Their topics are spot on.
Im gonna start with my first Multi here in the next couple months to a year tops slowly developing my career to earn more $$ but keeping my lifestyle the same. And i have saving enough now to do it just the interest rates are still so damn high
I really don't know what your talking about passive income means you earn money in your sleep if you own 24 apartments put in just 2 hours week per unit 50 hours a year calling someone to fix something in your apartments paying them getting back to them something else at 30 dollars hour pay and benefits if you work in apartment management thats 75000 dollars in active management of properties. Even if you own the units out right make 6400 per unit thats 76000 passive income at 24 units worth 170000 a unit thats a passive cashflow of less than 2% I know someone that lives in apartment the upkeep on the property is enormous and the buildings not that old.
just sold a property in Manhattan and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains within months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Absolutely true. I started investing before the pandemic and made about half a million in profit that year, despite having no prior experience with investment. Actually, all I was doing was seeking expert counsel.
you got to run the number on each unit . the big problem is not many cash flowing deals .. if they could find deals they wouldn't be trying to hustle on youtube ...
The rule of thumb is the more units you can get in a building the more profitable it will be. Naturally there are exceptions to the rule. Cash would be "safe" in case of nonpayment but leverage (loans) will always increase the ceiling of how much you can get to.
I’m selling my mortgage free home with attached apartment to build 4 x 2 bedroom apartments. We’ll live in one and rent the other 3. So from 1 passive income to 3 in one go. Then repeat. “Be the landlord”
Rentals are not passive income unless you sacrifice cash flow to management company fees to make it truly passive but then you are not getting $400/no in cash flow
This works in markets where prices are reasonable and reachable. I’m in Vancouver and the average condo here is like 700k so it’s pretty hard to save and purchase multiple units. There has to be a different strategy for expensive markets
Lot of options… if you are good with stocks, start there. Consider house hacking. Instead of buying in the city, begin investing in the outskirts. Partner with someone.
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
'Trapped equity' is your safety margin for unexpected expenses or interest rate rises. Don't leverage into the danger zone just by listening to people who make it sound easy to get yt clicks.
You're pretty sure? Well I can you, as a 42 year old who owns 6 properties, totalling 12 units, who works a full time 40hr/week job, you're right it's not completely passive. It's some work, calling, planning, organizing etc. But I don't raise rents so I keep good tenants. Fortunately all but 3 of my properties are near me and those 3 are a 35 min drive but they're lil townhomes, so easy to maintain. But it's also not so active as having to work 2080 hrs a year for highly taxed earnings, trading hours for dollars. What is passive is the forced savings of paying the mortgage principle, or having the tenants pay it, as well as getting wealthier (if the property is good) by inflationary increases. I don't have to fear inflation. It's not as passive as securities. What an invention. Securitization opened up the West, big industry, rail, steel, oil, auto, energy and then tech. All you need is to buy a security. That's the most passive but where are the tax breaks, where is the leverage and inflation wealth generation? It's not for everyone but I genuinely love learning everything about it, and doing a good job for my tenants
What you need to EXPLAIN, and most of these channels miss is there is a HUGE difference to working ang getting a W2 as opposed to just working rentals. YOU TOTALLY MISS ALL THE TAX BENEFITS IF YOU ARE GETTING A W2 from a job. IT IS NIGHT & DAY DIFFERENCE.
I don't understand why she's on the videos. The real value is from Ken. I also own 5 properties and it doesn't get easier as she states. The more houses the more responsibility and 800 dollars in cashflow is going to cover very little for maintenance. Not to mention the creep on taxes for not being owner occupied.
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the real estate & financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
NICOLE ANASTASIA PLUMLEE is a hot topic among financial elitist in The US. She's gained some reputation for her works during Covid. All the info. you need to set up an appointment is on her web page.
I've experimented with a few over the past years, but I've stuck with ‘’Nicole Anastasia Plumlee” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
I don't understand the relationship between these 2 people? Are they father and daughter or lovers or is she his employee? I think they look alike in some ways, so maybe they are related? He certainly seems enamored by her... Sorry, haha, yes I am interested in real estate and I like this channel but it's just so distracting wondering what their relationship is!
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Elena Stein
Huh? Do you think we keep these houses empty? Does it matter if you're renting from a huge company or a small investor? Usually a small investor is to the tenants advantage because the owner will work with the tenant if they face hardship. The large companies don't care.
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
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If you find this video valuable, please consider sharing it with someone who could benefit from it.
Your support helps our channel grow and motivates Ken to keep making videos like these. Thank you
Ken, Can you and your team discuss and do a video on the format you all used starting out to set up your business? For example, setting up an llc in Wyoming and then structuring your houses or units in individual llc's? Thank you,
Will share with my daughter :)
I really don't know what your talking about passive income means you earn money in your sleep if you own 24 apartments put in just 2 hours week per unit 50 hours a year calling someone to fix something in your apartments paying them getting back to them something else at 30 dollars hour pay and benefits if you work in apartment management thats 75000 dollars in active management of properties. Even if you own the units out right make 6400 per unit thats 76000 passive income at 24 units worth 170000 a unit thats a passive cashflow of less than 2% I know someone that lives in apartment the upkeep on the property is enormous and the buildings not that old.
In my opinion, house prices will continue down as people leave the state and prices correct due to market pressure. The problem with Florida is the property taxes increased based on the boom and the cost or inability to obtain homeowners insurance. Florida's in for a rough 5 years imo.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of a broker, before I started seeing any significant results in my portfolio, been using the same Adviser and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
Her name is Diana Casteel Lynch. Hope that helps.
Just copied and pasted her on my browser and her page popped up immediately, thank you for saving me hours of researching.
Teaching my son with this. 7 rentals almost paid off, retired at 55. Selling one and buying a boat to cruise the Caribbean. Yeah it’s possible, I did it.
Are those 7 all single family rentals?
What was your starting point- jf that’s even possible to define? Everyone has different income/assets when the rental light goes on, so curious what each person had to do to make it
Congratulations!
Im 31 with 4 but not a lot of equity yet but I can see being where ur at in 24 years
I plan to retire at the end of 2025 at 62 after 36 years in Telecom as a sales engineer. My wife will retire in May 2026 and she's loving life! But walking away from a good income stream and building the nest egg to living from the nest egg is a scary proposition couple with the alarming recession and CPI report
I agree! That's why it is advisable that you have to invest while you still have a regular job or earning a regular income, and do it constantly. You still need to have something that will keep you going even if you're investing. Good financial planning and money allocation is the key.
The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Getting 4 is magical
Yessir!
This is 100% true to a tee. I have 19 tenants and it's ALL about the deal because that allows you to recycle capital much faster the better the deal is or get to the next deal much faster the better the cashflow is.
How do you keep funding going from one purchase to another? We’re on #2 and with prop costs and rates, refinancing kills our monthly profits
Being a landlord is not "fully passive". It takes time and work, whether you have a PM or not. It's probably 50% "passive".
Being an LP in a syndication is as close as you can get to being "fully passive".
I agree. Semi passive but worth it for sure.
Notice, Ken started by working for a property management company...knowledge is so important.
In my opinion knowing a trade is also extremely beneficial.
10 rental properties and 13 Storage Condos all achieved in 10 years. It’s possible,
Just have to be laser focus, have a great system in place to run your business, and learn from your mistakes and don’t repeat it.
As for me, it wasn’t until the 5th home that is when the income started snowballing.
Great information and content here and thx for sharing!
Purchase (2) modest investment rentals. (I own 4.) It is a part-time hands-on business and a ticket to a comfortable retirement if you are willing to deal with the headaches. I buy clean low-mileage cars in cash and I carry no balance on credit cards. I "retired" 10 years ago and my portfolio is worth more now (inflation considered). I will not outlive my resources if I live to be 100.
I waited at a red light today, next to a bus with an ad on it for people who needed help with getting out of debt. And it hit me: I have zero debt! I owe nothing to anyone! Oh, what a feeling, what a rush (as that song says). Some people may think this is nuts, but let me tell you, it is a feeling as good as the paid off mortgage. And having large stocks of food allows you to replace those necessities only when they are on sale, so you keep saving money long term. I’m so glad I took my Investment journey serious and with my financial advisor, I have been to achieve my goals.
Absolutely! Just like Howard Marks, says the same thing about his investment philosophy. Once you know what your values are, consistency is the key to success while respecting those values.
How do I find a suitable fiduciary advisor, can you recommend any?
Find financial advisors like Becky Lou Gordon who can assist you. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.
I just closed on my second property that I will use as rental! Thanks to you two and your wisdom I will be starting my journey of owning mulitple properties. Cheers!
Hello, I want to start investing but I don't know where to begin. Any advice or contacts for help?
It's wise to seek professional guidance when building a strong financial portfolio due to its complexity.
Certainly!!! I diversified my $45,000 portfolio across different markets.
The reality is that you cannot do it without a tried and true person like Mary
Mrs Lucy Mary Liam unique strength lies in her realistic approach which makes her different from other brokers that often set unattainable targets and fall short in delivery.
If a person is direct and proficient in their work, others will consistently vouch for them. I love her transparency!!!
I have 6 paid off rental properties and this is not passive income. If you are only cash flowing a few hundred dollars per month, you are only one major repair away from a loss for the year. That said, I love it. But, a lot of these RUclips channels make it look too easy.
Yeah I only have one and looking for another. Like you said, it's work. With interest rates the way they are most are zero income for a few years which sucks.
Why don’t you outsource to a property manager?
@@martinenej3109 I do outsource management for my out of state properties. I will likely outsource my local properties one day, but I hate giving up 10% of my income.
@@martinenej3109 because then your profits basically go to zero
It’s definitely passive income depending on a your situation. You just described a scenario where it’s not. Someone else owns 6 and has a major repair or 3 and it still cash flows plus they get to write off expenses.
Who in the world is buying properties that cashflow $300-400 with traditional rentals nowadays? I don't see how that's even possible esin today's market. Unless you're putting 30-40% down, everything that isn't falling apart is cashflow negative.
You answered your own question- putting more down upfront
I just keep buying primary residences and moving. The moving gets old, but it’s paying off closing on another one hopefully before the end of this month
Great video. I am 10 days away from acquiring my second rental property and I started in my mid 30s. I have also 3 pieces of land that generate cashflow plus a decent chunk of money invested in the market. I am always looking for deals, try to talk to people, generate a network of smart people. I live in Italy btw, so I think it's a little different here than it is in the USA, but still doable
What do you do with your lands?
@@farkasbenceyea seriously. How does just owning land generate income?
@@cwr8618I meant specificly, dont need to be sarcastic. You rent them out? Or install renewable energy? Just curious what generates the most on lands.
@@farkasbence I meant no sarcasm, that's literally what I am also asking.
@@farkasbence I rent them. They are lands on which my father used to cultivate and simply rent them out with the same stuff (flowers, plants etc.) Sorry, my english is not perfect, but I hope you understand
My friend did this in the 2000s. He saved the income from his first property to put into the 2nd, etc. Property prices were booming at the time so he could roll that equity into the next property. When the financial crisis hit in 2008 I would assume he had a couple of million euros in mortgage debt across 10+ properties, with a very low equity position. The property prices in our city (non-US) dropped by around 30% and he was totally and completely wiped out. He lost his own home, his cars, his wife walked out, and he basically cracked mentally and had a kind of breakdown. 16 years later and he still lives back in his childhood home with his mother, a broken man.
So by all means, follow the same pattern if you want that 'passive income' (it isn't passive btw) and capital gains. But don't pretend it's low risk, because while the upside can be good if the stars align in your favour, the downsides of the extreme leveraged debt are very real.
He probably pulled HELOCS on every property to finance the down payments for the next one which created a house of cards because not many people know that HELOCs can be called all at once at any time for any reason and if that money can’t be paid back at that moment they take the collateral. Which is the property.
@ Nah, rates went up where he lived (Ireland) and house prices plummeted. He had used equity from house A to fund house B etc. as prices went up. Very stupid.
I seen no increase after my 2nd. Was not able to buy the third. The cost of housing went up so high for the next one. Also, I've had to replace the furnace and boiler in 2 units, completely drained my emergency fund and maintenance account.
I have two homes cashing flowing nicely. With interests rates so high now, I don’t see how to do that now unless I put down 50% of more.
That's the point. It will become a renters market and you won'tbe able too like before. That's exactly why black rock was buying up so much. They will sell them off probably in 2-4 years from now and then sell.
Got five rentals and too much income now. I hate paying taxes!
A good problem to have
That’s not a bad problem to have! You need to start buying “things” that your rental properties need 🤔
@@remodelassets6523😂😂yeap...
Either you are being facetious or your doing something wrong. 🤷🏼
Yes but but turnkeyrentals helps u save thousands give them a call
In today’s market, positive cash flow is hard to achieve
I have 2. It hasn’t skyrocketed.
Your rich
oh, thank you for this video, it greatly encouraged me. I appreciate the positive heads-up. I am so early in the game, and so much of a beginner, but hearing your experience in "compounding property" struck a responsive chord that boosted my attitude about this process, and encouraged me to keep learning and keep trying and taking the steps. thank you
I see ZERO properties available with a $400 cf with less than a 40-50% deposit (with an interest only loan - so no capital repayments)
“Your tenant is paying your mortage” This is true on countries with low interest rates, take Brazil as an example: i bought 2 rental properties this year, both for short rental, the interest on a mortage here is 11,25%! Impossible to have a reasonable positive cash flow, if you’re lucky its gonna be an even game. So i saved money, bought these 2 properties with money enough on my savings to pay the mortage of the 1st property in ~16 months (savings+salary), after this point ill have 2 properties paying for 1, then the game starts to make sense…
I love this can of information it motivates me to keep going thank you Ken and Daniel you guys are my RUclips mentors , I’m in that beginner situation and living in California 😅 trying to execute my first rental property next year 😁🙏🙏🙏
Outstanding video with great perspective on how it gets easier and easier as you get past your first couple of rentals. Thanks Danille and Ken!
You guys are so positive so its a pleasure to watch your videos. How to find good tenants another question after cleared with HOA. Had great tenants several years ago, hope will get lucky again :)
Step 1.
Marry a billionaire
Step 2.
Have him buy you 6 rental houses.
Love watching your content. Its hard to find good investment content these days with so many financial entertainers out there.
Ken and Danille always bring such valuable insights-can't wait to learn how that second rental property can really boost financial growth! 🏘💰
The problem is now that the house prices are high, interest rates are still high but rents are getting low and low. So cash flow positive rental property is getting harder and harder
Thank you Ken and Danille, how do I get your “step by step tutorial on how I can buy my first rental property please? Thank you again
Thanks for this! We are interested in buying our 2nd rental in Affordable Housing. How do we even find these types of rentals? Is there a specific website we have to find these on? We are in Florida (fyi)
Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.
Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.
Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.
Educational video on the topic, it is exactly what I wanted to know. It looks like the channel has some other nice topics too and I am looking forward to hearing them. Note to whoever is editing this video and controlling the zooming in and out-it is very bizarre, we know why you are doing that and don't do it. Not only is it unnecessary but it is distracting as well. Perhaps this was one of Ken and Danille's first videos, and they tried too hard (or did not think about it at all) on the layout or set up, I am sure they will get better with feedback. Their topics are spot on.
I so needed this! Thank you, thank you, thank you!
Lots of men had questions...now they have all questions answered from the neck down 😂
OK qualifying, payments and 2-4 mos to get your tenant. How do you cover the cost? What if you're a single wage earner. Show how this works.
Very helpful Thank you for sharing
I am forward on my 3rd investment property!
Im gonna start with my first Multi here in the next couple months to a year tops slowly developing my career to earn more $$ but keeping my lifestyle the same. And i have saving enough now to do it just the interest rates are still so damn high
I really don't know what your talking about passive income means you earn money in your sleep if you own 24 apartments put in just 2 hours week per unit 50 hours a year calling someone to fix something in your apartments paying them getting back to them something else at 30 dollars hour pay and benefits if you work in apartment management thats 75000 dollars in active management of properties. Even if you own the units out right make 6400 per unit thats 76000 passive income at 24 units worth 170000 a unit thats a passive cashflow of less than 2% I know someone that lives in apartment the upkeep on the property is enormous and the buildings not that old.
Thank you for sharing, good content.
Where do we go for the tutorial?
just sold a property in Manhattan and I'm thinking to put the cash in stocks, I know everyone is saying it’s ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains within months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Absolutely true. I started investing before the pandemic and made about half a million in profit that year, despite having no prior experience with investment. Actually, all I was doing was seeking expert counsel.
I sincerely aspire to establish a secure financial future and I’m eager to participate. Who is the driving force behind your success?
Thank you for this tip. it was easy to find your coach. She seems proficient considering her résumé..
Wait for 3 to 6 months. You'll get bargains
Why wouldn't someone just do a creative finance deal be it seller financing or subject-to for your first rental property or even for all your deals?
Is it better to buy and pay off overtime 5 houses and then rent them out ? or own a duplex or something along those lines..
you got to run the number on each unit . the big problem is not many cash flowing deals .. if they could find deals they wouldn't be trying to hustle on youtube ...
Love the duo videos
What is the price of a apartment in us
Getting my 7th and 8th next month. How in the world ?!
What approach do you guys prefer? Paying cash for SFH's at a good deal? Maximize leverage and accumulate as fast as you can? Fourplex? Multi?
The rule of thumb is the more units you can get in a building the more profitable it will be. Naturally there are exceptions to the rule. Cash would be "safe" in case of nonpayment but leverage (loans) will always increase the ceiling of how much you can get to.
I think in india it works better if you go with the corporate rental spaces than residential ones.
Hey Ken, how do I get the first one. I have some savings.
Tax deed auction 😊
That's a million dollar question
I’m selling my mortgage free home with attached apartment to build 4 x 2 bedroom apartments. We’ll live in one and rent the other 3. So from 1 passive income to 3 in one go. Then repeat. “Be the landlord”
great info
Rentals are not passive income unless you sacrifice cash flow to management company fees to make it truly passive but then you are not getting $400/no in cash flow
I'm favoured, $27K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
Thanks to Mr Mark Hutchinson .
He's a licensed broker here in the states
Started with 5,000$ and Withdrew profits
89,000$
Yeah get connected to Sir Mark Hutchinson , here's he's line👎🏻
+1402
This works in markets where prices are reasonable and reachable. I’m in Vancouver and the average condo here is like 700k so it’s pretty hard to save and purchase multiple units. There has to be a different strategy for expensive markets
Lot of options… if you are good with stocks, start there. Consider house hacking. Instead of buying in the city, begin investing in the outskirts. Partner with someone.
If you wouldn't move there to do buisness then you need to move out.
Leave
As an lnvesting enthusiast, I often wonder how top level investors are able to become millionaires off investing. . I’ve been sitting on over $545K equity from a home sale and I’m not sure where to go from here, is it a good time to buy into stocks or do I wait for another opportunity?.
Well as you know bigger risk, bigger results, but such impeccable high-value trades are often carried out by pros.
People dismiss the importance of advisors until they are burned by their own emotions. I remember a couple of summers ago, following my lengthy divorce, I needed a good boost to assist my business stay alive, so I looked for qualified consultants and came across someone with the highest qualifications. She has helped me raise my reserve from $275k to $850k, despite inflation.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
NICOLE ANASTASIA PLUMLEE is her name. She is regarded as a genius in her area and works for Empower Financial Services. She’s quite known in her field, look-her up.
Thank you for this amazing tip. I just looked the name up and wrote her
But the interest rates and home prices are so damn high😭. Nothing cashflows
Banks are already telling me my debt to income ratio is to great. I only live in my duplex, and they’ll only loan me enough for one more…
Seller financing or dscr loans
Thank you.
'Trapped equity' is your safety margin for unexpected expenses or interest rate rises. Don't leverage into the danger zone just by listening to people who make it sound easy to get yt clicks.
Not to mention your equity and net worth goes up significantly.
6:50 Compounding
I saw the link and thought "Sexpo" 😅😅😅
You guys keep saying passive income, but I’m pretty sure real estate is not passive income.
You're pretty sure?
Well I can you, as a 42 year old who owns 6 properties, totalling 12 units, who works a full time 40hr/week job, you're right it's not completely passive. It's some work, calling, planning, organizing etc.
But I don't raise rents so I keep good tenants. Fortunately all but 3 of my properties are near me and those 3 are a 35 min drive but they're lil townhomes, so easy to maintain.
But it's also not so active as having to work 2080 hrs a year for highly taxed earnings, trading hours for dollars.
What is passive is the forced savings of paying the mortgage principle, or having the tenants pay it, as well as getting wealthier (if the property is good) by inflationary increases. I don't have to fear inflation.
It's not as passive as securities. What an invention. Securitization opened up the West, big industry, rail, steel, oil, auto, energy and then tech. All you need is to buy a security. That's the most passive but where are the tax breaks, where is the leverage and inflation wealth generation?
It's not for everyone but I genuinely love learning everything about it, and doing a good job for my tenants
Stock market compounding is muvh much easier.
I have 5 doors.. and now I buy reits on the market..
17 properties and want 3 more then I’m done. I think. lol
Congrats!!!
What type of properties? Are they paid off?
@@crazy3rdgen 14 SFH, 2 duplexes and 1 Fourplex. 22 units in total. Not paid off but doing the debt snowball. 2 are paid off.
@@MonteMitchellhow much are you making annually take home?
It’s not passive😂, but it is worth it!
1st of ALL you never have 2 rentals under her belt !!!! LOL !!!! THE BANK HAS THEM UNTIL YOU KILL THE DEBT !!!! LOL !!!!
the more Doors you have the faster you can pay them off
I’m sorry, what did you say about property??? My brain just froze looking at those cross legged and reddish hose pants 😂😂😂
What you need to EXPLAIN, and most of these channels miss is there is a HUGE difference to working ang getting a W2 as opposed to just working rentals. YOU TOTALLY MISS ALL THE TAX BENEFITS IF YOU ARE GETTING A W2 from a job. IT IS NIGHT & DAY DIFFERENCE.
House 1, House 2, House 3, House 4... This guy's playing monopole irl.
Risky
Not if you live in England
Why’s she dressed like that!
I was thinking the same thing 😂
odd way to sit for a real estate video!
New marketing strategy...desperate times
I don't understand why she's on the videos. The real value is from Ken. I also own 5 properties and it doesn't get easier as she states. The more houses the more responsibility and 800 dollars in cashflow is going to cover very little for maintenance. Not to mention the creep on taxes for not being owner occupied.
Obviously this is a huge bubble. Imagine everyone being a landlord...😂
Why is she sitting that way?
Love Ken, no disrespect but are they a couple?
That's his daughter... just kidding. Yes, they're a couple.
And some people think Monopoly is just a game……
Yes, that's his wife.
I’m first is there a gift ?
I am confused if this is a real estate business related video or a yoga promotion, slash soft OF, slash...Lost all credibility. Thanks
Divorce in coming😅
Please stop saying passive. It’s not.
Are your first two single-family?
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the real estate & financial market, so I'm concerned about my $200k stock portfolio.
There are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
NICOLE ANASTASIA PLUMLEE is a hot topic among financial elitist in The US. She's gained some reputation for her works during Covid. All the info. you need to set up an appointment is on her web page.
I've experimented with a few over the past years, but I've stuck with ‘’Nicole Anastasia Plumlee” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.
❤❤❤
she is so beautiful
She’s very attractive! Is that your wife?
Sit like a lady!
I don't understand the relationship between these 2 people? Are they father and daughter or lovers or is she his employee? I think they look alike in some ways, so maybe they are related? He certainly seems enamored by her... Sorry, haha, yes I am interested in real estate and I like this channel but it's just so distracting wondering what their relationship is!
😊
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Elena Stein
Lies
Thanks everybody for exacerbating the housing crisis.
Huh? Do you think we keep these houses empty? Does it matter if you're renting from a huge company or a small investor? Usually a small investor is to the tenants advantage because the owner will work with the tenant if they face hardship. The large companies don't care.
PULL OUT TRAPPED EQUITY !!!! LOL !!!! YOU MEAN DEBT THAT REQUIRES PAYMENTS ???? LOL !!!!
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Charlotte Miller.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $1000 and after a week, we received $5500. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
Sure! She interacts on what's App using the digit below 👇
+180