Like Kyler, 1) not discovering the Real Estate Game earlier in life! 2) Living on the Oregon Coast 1989 and not investing in 2 side by side Ocean Front lots that were for sale for $10,000 each. Thought about it, got nervous, didn't do it! 4 years later a real estate boom hit (California migration) and the same lots were sold for almost $100,000 each. I'm still kicking myself for that one!
Chandler David Smith True + content like yours that inspires me to take the leap, be brave..it can pay off big time. Thanks for all you do! You're changing lives one believer at a time! ❤️
Great video Chandler! I was getting close to walking away from the 4P I'm under contract for because I just didn't have all the answers. My wife encouraged me to continue with it and I'm super glad I did. I'm looking forward to 15% cash flow on this one.
Wow nice... but don’t beat yourself up there more opportunities my guy...Those 4 units are a gold mine. They can go FHA and rates are low right now. 💯🔥
Thank you for this video. I’m actually working on my first quadplex deal. I guess I was here looking for some motivation. I hope and pray this deal works out.
That's actually a great question. Fact is, a 4 Plex allows you to treat the property as a residential property where as anything beyond that must be treated as commercial property! At the very least the interest rate will not be as good, as well as other downsides that would not be beneficial!
Pros and cons. You can only get so many conventional loans. Commercial loans won’t impact your DTI. More doors = more cash flow. It depends what the individuals situation is🤷♂️
cotmann not a bad rule to live by but if there’s something wrong with the property or things change to where it’s not right then you’ve got to do what you’ve got to do
Here in Beaverton, as a Leasing Professional, I’ve rented 2x1’s for $1800, 3x2’s for $2400 and 2x2+loft for $2500+. I’m thinking about getting a duplex, 2 3x2’s @ 1300sq ft+, and renting the other side out for $2700 (that’s wha they’re going for (or near it). The homes are BOTH renovated, with garages, in BEAUTIFUL neighborhood that is safe, close to transit and all stores. I think I can do it. I just don’t think I can do a 4plex…. That sounds like too much for me… I can own 2 cars, that’s easy. 4 homes?…. Nnnnoooo… i can’t… i can’t do that.
It's a shame, you seem to be concerned only with "raising rents" and maximizing returns. Almost 10 minutes and I don't think you mentioned a single thing about providing a better or even good product, except vaulted ceilings. Do you work hard to reap the benefits of inflation while the poor get more poor? Or does your team do that for you?
Ok mr. social justice, anti capitalism….. Buy your own property and rent it out for SUPER cheap….help those poor people out…. ANNND deal with your property being absolutely trashed in the process You won’t though.
He's not going to tell you what he makes Typical investor Always making it seem like investing is a mistake Yet they are the ones making money lol They dont want anyone else to get in the business and win
Hello Chandler. Do you only hire men at ELITE SUMMER SALES? I did not see any women represented in the testimonials nor in the “What to expect” video overview? Btw: I love your channel and how you explain things. The way you speak reminded me of the “tiny classified ads” guy (Don Lapre) from years ago.
StyleSensePlus haha thanks! And yes, we’ve had women be extremely successful. Actually have a video I’m going to put out soon with one of our women that did extremely well!
Hi Chandler, I've identified a potential deal with one (possibly) red flag. House was originally a 2/2 at 1,600 sq ft. Previous owners added 2 extra bed rooms to the house 10 years ago, increasing square footage by 1,000 sq ft. Everything looks good, but no permits were pulled. That's a lot of work done (siding, roofing, electrical, sheetrock, framing, etc.) possibly not done to code. What would you do? Asking price is $80k under ARV, with approximately $30k in rehab.
bum fistagus I literally just bought a place like this. Get an inspector in and see what you are dealing with. If it looks good and you can cash flow big on it I personally would buy it. If you’re planning on buying it and flipping it you need to recognize that you won’t get what you want out of it because that will scare people away and give them an excuse to get a lower price. If you’re buying it for a buy and hold Investment and the numbers work I would do it all day as long as you understand what you’re getting into after an inspector has checked it out. Hopefully that helps
@@ChandlerDavidSmith thanks! My mind was wrapped around flipping it. I'll see what buying and holding crunches out to. Could pulling the permits/possibly having to redo a lot of the work to bring it to code and going down that road be more work/ money than what it's worth? My biggest fear is closing on the house to later find out the city wants to demolish the addition claiming it's all wrong.
bum fistagus honestly the city can be a major pain. It’s kind of a gamble bringing it to them unless you have an in. You won’t know if it’s worth the money unless you see what all they need you to do 🤷🏻♂️
You can get started for 10k….. Any schmuck can save that. Worst case you sacrifice comfort for a while such as living in a car or something if that is required. Also who wgaf if he “inherited” some property or not? He was given lemons and he didn’t just make lemonade, he planted a bunch of trees to have endless lemonade. It’s all about what you DO. dude makes hundreds of thousands each year in passive income…. Can you say the same chief?
Thanks Chandler! Love the pop up guy “Just do it!” Is that one of your property managers? I like your videos because you explain things in very simple to understand terms. You are not over the top like the mega guys. We don’t need a ton of Realestate to have our freedom.
Chandler David Smith are you kidding me, thank you. Useless Hollywood knowledge vs real world self control & financial advice. I hit subscribe!!! Your what this country needs to keep it great!!! Keep up the good work.
@@ChandlerDavidSmith See I live in NYC, Astoria, Queens. I downloaded your spreadsheet and called my loan officer, been punching in numbers but it's just too expensive to buy a house here. 1.2 mil for anything in my hood. The taxes are so high here and in NJ as well as the capital to buy. Do you know anyone familiar with this market? I could do a phone consultation?
Hey Chandler , would you mind to share what’s average rent in the apartments and building annual taxes , I’m just trying to figure out what makes senses for you paying 75k per door . If that’s too much to ask I understand also . Thanks
“He doesn’t really like realtors” This is an growing pool of people. When you think about capital gains tax, paying realtors to open doors and push paperwork is a gatekeeping activity that is not appropriate when two amicable parties already agree on the numbers. Gatekeeping is a real problem for sellers and they want to transact directly with home buyers and use attorneys, who are infinitely more knowledgeable and safer than realtors, who get licensed in three months.
How could you get 4.25% interest rate unless you tell the lender that you going to live in one of the units? Otherwise as an investment property the rates are about 5.5 and up...
Wow man! What does it take to get a duplex? How do i find one? What do you think about partnerships getting the property or do you think it should be a solo thing?
hey, great video! But could you keep the voice consistent? you whisper here and there and speak a bit louder elsewhere and I find it a bit hard to follow :P
LOL I love when people are talkign about interest rates "shooting through the roof"... at it's at.... 5.7%.... :D Anyone here over 40 remember interesting rates double that... and triple in the 80's? :D
Hey Chandler! Awesome video. I’m actually working on getting my first 4plex in Texas by the end of the year. Is there an excel spreadsheet you could share with me on exactly what I should look for? Thanks, Jose
There is a 4plex in my area that I would love to buy. It would be my fist investment property. How do I know if it is a good investment? What formula do I use?
Okay so I just discovered a potential combo deal in my area’s MLS. Two very old homes listed separately, but by the same owner and realtor. On the same block as well. Together the asking value is 155k, will a bank still lend at 5% down if I buy both properties in one deal? I’d live in one and the other is already rentable.
Chandler David Smith I figured so. I think the numbers look good still, I’ll just have to get a little creative to secure it. They’ve been on market for 4 months and are way under value because they’re old
Chandler David Smith dude I appreciate that so much! I need more advice haha, this deal is actually really interesting though so I think you’d like to hear about it! SO: this is all in the town I grew up in. The seller is the sister of the former owner- the owner died earlier this year and left the two properties in his sister’s name. I actually went to high school with the past owner’s daughter! I have basically no money right now, but I’m graduating nursing school in May and will have guaranteed employment in the area. I’m thinking I could offer the seller to do a rent to own type deal so that I can secure and live in one of the properties while building the cash for a down payment. How do you think I should approach the realtor and the seller about this? I don’t want to miss out on a deal, but also I don’t want to come off as the guy trying to make money off my high school acquaintance and her father passing. Right now I’m thinking I should gather my plans into an offer letter and send it to the realtor so that they can pass it on to the seller. Is that how it’s done? Thanks, and again, you’re making the world a better place!
Ryno Throwton I would meet in person and pitch it as a win win with you connection. It would still be an investment for them. If you put in an offer it’s very unlikely the realtor would go for it.
What’s your biggest mistake?
Waiting until I was 29 to start.
Kyler Cook better then 39! 😜
Like Kyler, 1) not discovering the Real Estate Game earlier in life! 2) Living on the Oregon Coast 1989 and not investing in 2 side by side Ocean Front lots that were for sale for $10,000 each. Thought about it, got nervous, didn't do it! 4 years later a real estate boom hit (California migration) and the same lots were sold for almost $100,000 each. I'm still kicking myself for that one!
Carolee Hubbard ouch! At least you have those experiences to push you to make the right decisions on deals like that moving forward!
Chandler David Smith
True + content like yours that inspires me to take the leap, be brave..it can pay off big time. Thanks for all you do! You're changing lives one believer at a time! ❤️
*1.5x is actually normal speed.*
Romeo MK i’m a slow talker 😜
Romeo MK
How do you guys listen to 1.5 speed ? The sound becomes high pitched and it’s annoyingly
Ehhh more like 1.25
I watch everything on RUclips at 2x speed - double the content in half the time.
Facts 🤣🤣🤣
You know you are winning when you are smiling about your mistake.
Samuel Stidwell IV definitely! 👊🏻
RealestRealist love it!
Great video Chandler! I was getting close to walking away from the 4P I'm under contract for because I just didn't have all the answers. My wife encouraged me to continue with it and I'm super glad I did. I'm looking forward to 15% cash flow on this one.
Michael King that’s awesome! Well done!
how is it going now
Looking to buy a 4P right after college and to live in a unit
Yeah that’s my plan as well
Wow nice... but don’t beat yourself up there more opportunities my guy...Those 4 units are a gold mine. They can go FHA and rates are low right now. 💯🔥
Thank you for this video. I’m actually working on my first quadplex deal. I guess I was here looking for some motivation. I hope and pray this deal works out.
How did it turn out?
I’m so interest in buying a 4flex for my first investment but how do I learn the market
does he own $14 million in real estate or does he have $14 million in mortgages?
Since he said that he owns 14 million in real estate, it probably means that’s the total value of his portfolio, owned and leveraged.
@@kylercook7968 thanks I enjoy your videos
john mcalister Pretty sure that’s just the total of what he owns but he doesn’t have a lot of his properties leveraged. He’s a cash guy
Kyler Cook yep!
This is my goal to invest in multi family.
"just do it!!!!" 😂
GengoSenmon 😜
Great video! Would you prefer to get a 6Plex if the price point was in the same range assuming all things were equal?
That's actually a great question. Fact is, a 4 Plex allows you to treat the property as a residential property where as anything beyond that must be treated as commercial property! At the very least the interest rate will not be as good, as well as other downsides that would not be beneficial!
Pros and cons. You can only get so many conventional loans. Commercial loans won’t impact your DTI. More doors = more cash flow. It depends what the individuals situation is🤷♂️
I love investing in Multifamily Real Estate. I have bought a lot of properties by adding value and trading up.
I'm not sure what 'cash on cash return' means.
Breton Bell check out my video “how much should your property cashflow” and it will explain it
When you shake hands that is it don't back up.
cotmann not a bad rule to live by but if there’s something wrong with the property or things change to where it’s not right then you’ve got to do what you’ve got to do
Here in Beaverton, as a Leasing Professional, I’ve rented 2x1’s for $1800, 3x2’s for $2400 and 2x2+loft for $2500+. I’m thinking about getting a duplex, 2 3x2’s @ 1300sq ft+, and renting the other side out for $2700 (that’s wha they’re going for (or near it). The homes are BOTH renovated, with garages, in BEAUTIFUL neighborhood that is safe, close to transit and all stores. I think I can do it. I just don’t think I can do a 4plex…. That sounds like too much for me… I can own 2 cars, that’s easy. 4 homes?…. Nnnnoooo… i can’t… i can’t do that.
It's a shame, you seem to be concerned only with "raising rents" and maximizing returns. Almost 10 minutes and I don't think you mentioned a single thing about providing a better or even good product, except vaulted ceilings. Do you work hard to reap the benefits of inflation while the poor get more poor? Or does your team do that for you?
Don’t hate the player, hate the game 🤷🏾♀️
Ok mr. social justice, anti capitalism…..
Buy your own property and rent it out for SUPER cheap….help those poor people out….
ANNND deal with your property being absolutely trashed in the process
You won’t though.
Its been 2 mins in your vid and im kinda annoyed already.
Video would be a lot better if
You broke down the numbers. Us investors like to see all the numbers and analyze the deal bro 👍🏻
Matt Snyder Real Estate sorry I’ll try and be better about that. Check out the other video linked to this one and I think I break it down better
He's not going to tell you what he makes
Typical investor
Always making it seem like investing is a mistake
Yet they are the ones making money lol
They dont want anyone else to get in the business and win
Hello Chandler. Do you only hire men at ELITE SUMMER SALES? I did not see any women represented in the testimonials nor in the “What to expect” video overview? Btw: I love your channel and how you explain things. The way you speak reminded me of the “tiny classified ads” guy (Don Lapre) from years ago.
StyleSensePlus haha thanks! And yes, we’ve had women be extremely successful. Actually have a video I’m going to put out soon with one of our women that did extremely well!
Please let's not compare Chandler to Don Lapre. I think Chandler has a lot more character and won't end up like DL.
What microphone are you using? I plan to record some videos soon
Web User just a lava mic from Best Buy 🤷🏻♂️
Hi Chandler, I've identified a potential deal with one (possibly) red flag. House was originally a 2/2 at 1,600 sq ft. Previous owners added 2 extra bed rooms to the house 10 years ago, increasing square footage by 1,000 sq ft. Everything looks good, but no permits were pulled. That's a lot of work done (siding, roofing, electrical, sheetrock, framing, etc.) possibly not done to code. What would you do? Asking price is $80k under ARV, with approximately $30k in rehab.
bum fistagus I literally just bought a place like this. Get an inspector in and see what you are dealing with. If it looks good and you can cash flow big on it I personally would buy it. If you’re planning on buying it and flipping it you need to recognize that you won’t get what you want out of it because that will scare people away and give them an excuse to get a lower price. If you’re buying it for a buy and hold Investment and the numbers work I would do it all day as long as you understand what you’re getting into after an inspector has checked it out. Hopefully that helps
@@ChandlerDavidSmith thanks! My mind was wrapped around flipping it. I'll see what buying and holding crunches out to. Could pulling the permits/possibly having to redo a lot of the work to bring it to code and going down that road be more work/ money than what it's worth? My biggest fear is closing on the house to later find out the city wants to demolish the addition claiming it's all wrong.
bum fistagus honestly the city can be a major pain. It’s kind of a gamble bringing it to them unless you have an in. You won’t know if it’s worth the money unless you see what all they need you to do 🤷🏻♂️
If your biggest mistake is not predicting the future. I’d say you are doing pretty great. Biggest “regret” maybe….
He's probably not a self made guy, probably inherited his his first 4 properties. Like there are alot of dudes his age with 618k in the bank.
You can get started for 10k…..
Any schmuck can save that.
Worst case you sacrifice comfort for a while such as living in a car or something if that is required.
Also who wgaf if he “inherited” some property or not?
He was given lemons and he didn’t just make lemonade, he planted a bunch of trees to have endless lemonade.
It’s all about what you DO.
dude makes hundreds of thousands each year in passive income….
Can you say the same chief?
@@iamnobody9001 no, but if it only takes 10k, why haven't you done it? Why are you not making that much every year in passive income?
Thanks Chandler! Love the pop up guy “Just do it!” Is that one of your property managers? I like your videos because you explain things in very simple to understand terms. You are not over the top like the mega guys. We don’t need a ton of Realestate to have our freedom.
Dewayne Florian thank you!
Shia lebouf
David Drakeford hahaha thanks for the clarification
Chandler David Smith are you kidding me, thank you. Useless Hollywood knowledge vs real world self control & financial advice. I hit subscribe!!! Your what this country needs to keep it great!!! Keep up the good work.
David Drakeford thank you!
We can only learn and continue to grow. Failures are stepping stones!
If you have to borrow money for an investment. It is not a investment.
U are way too slow n talk too much about yourself n stories stay on topic
So you figured a 9% return and you said not enough. I guess the lesson is greedy pig gets slaughtered.
John F. Hebert pigs get fat, hogs get slaughtered haha your not wrong.
@@ChandlerDavidSmith See I live in NYC, Astoria, Queens. I downloaded your spreadsheet and called my loan officer, been punching in numbers but it's just too expensive to buy a house here. 1.2 mil for anything in my hood. The taxes are so high here and in NJ as well as the capital to buy. Do you know anyone familiar with this market? I could do a phone consultation?
John F. Hebert I don’t, I wish I was more help
Never mud wrestle with a pig, because the pig likes it
How do I buy 10 real estate properties? Do I need like 10 different types of loans or? I’m sooooo lost
No you don’t. there are multiple different types. Freddie Mac and a blanket mortgage are popular multi property loans you could look at
Bruhhhhh speak up !!!!! My volume is on max !!! Stop whispering hahaha I still love your videos though. I watch you DAILY!!!!!!
This had minimal helpful info. He just likes to talk about himself
Bro just wasted 10 minutes of my life
Thanks for sharing, Chandler! One quick question is how would you know you could bump the rents in next few months when you first time saw this deal?
Cool story but you talk really slow bro! Lol
How do you get the cash on cash %%
multifamily in nyc? good idea???
Lol I can’t chicken out now!
How do you tell what the "rents" are in the area?
Buddy Cherrix you’ve got to learn the area. I did a video on this! Check out my channel more and it’s there!
@@ChandlerDavidSmith Thanks. Really enjoy your content.
Buddy Cherrix thank you! That means a lot!
Hey Chandler , would you mind to share what’s average rent in the apartments and building annual taxes , I’m just trying to figure out what makes senses for you paying 75k per door . If that’s too much to ask I understand also . Thanks
Pawel Wisniewski 800-850 rents. Just over 3500ish in taxes.
Chandler David Smith
Appreciate that , thanks
Pawel Wisniewski thank you! Let me know if there is anything else I can do!
I wanna cashflow
I like the idea that homework would have given you the go sign. Dig deeper is the lesson.
Help me make money
That shia labeouf thing was hilarious
“He doesn’t really like realtors”
This is an growing pool of people. When you think about capital gains tax, paying realtors to open doors and push paperwork is a gatekeeping activity that is not appropriate when two amicable parties already agree on the numbers. Gatekeeping is a real problem for sellers and they want to transact directly with home buyers and use attorneys, who are infinitely more knowledgeable and safer than realtors, who get licensed in three months.
Knowledge
Pre pandemic my Unk paid 650k for couple of 4plex. The one beside he’s just sold for 1.4m 🤷🏽♂️
Great Shia labouf moment!! 😂😂😂😂
About nothing
Olzhas Bekzhanov huh?
6:12 for biggest mistake
How could you get 4.25% interest rate unless you tell the lender that you going to live in one of the units? Otherwise as an investment property the rates are about 5.5 and up...
You can definitely get them lower. Just closed on the property this week that was a duplex out of 4.2% with 25% down not living in it
Am I the only one feeling creeped out?
Walter White why do you feel creeped out?
This guy dosent know anything lol
This guys production says otherwise 🤷🏻♂️😂
I have a fully paid triplex should I sell or rent out ?
I would suggest Rent for the passive income !
HELOC and grow your portfolio.
You make your money on the deals you don’t do.
Haha interesting
Wow man! What does it take to get a duplex? How do i find one? What do you think about partnerships getting the property or do you think it should be a solo thing?
hey chandler what part of Idaho do you have rentals in? I have a rental in caldwell with a crazy rental market its really easy to get good tenants!
Tim V I’m in Idaho!
This helped with my analysis paralysis alot on a fourplex
How can you know that rents are going to increase?
The Shia LaBeouf ending couldn't be more true lol.
Bro your set up reminds me of graham stepehens lol. I like it though!
Missed a few opportunities like this. Let the numbers guide you.
Rob c love it!
Where is this four-plex? Where in Idaho?
9 percent isn't bad.. you'll make the return over time...
would you recommend fixed interest rates ?
Do you mentor I want my 1st property to be a 4plex
This video made me sub new viewer here! Nice lighting and video!
Why would you buy a property from a multimillionaire investor? That’s like expecting a deal from a car dealership.
What a stupid comment 🤦♂️
I have a great deal for whats your email
hey, great video! But could you keep the voice consistent? you whisper here and there and speak a bit louder elsewhere and I find it a bit hard to follow :P
What's a 1031 exchange?
LOL I love when people are talkign about interest rates "shooting through the roof"... at it's at.... 5.7%.... :D Anyone here over 40 remember interesting rates double that... and triple in the 80's? :D
Thank you for sharing ❤️
You shoulda seen 300,000 was a good deal
when rates go from 4 to 5.7 that is NOT rates shooting through the roof, just a minor correction
Chandler’s videos might say 9:19, but its really 30 minutes with his talking speed
Great video
Bearded Mutt thank you!
Great vid story! Thank you for sharing!
I even felt so so so bad...
2.0x is the speed
should i do it lol
Chandler like the content let’s go in on a deal
Hey Chandler! Awesome video. I’m actually working on getting my first 4plex in Texas by the end of the year. Is there an excel spreadsheet you could share with me on exactly what I should look for?
Thanks, Jose
Damn
Thank you. I am interested in 4 plex.
clarkewi thanks for watching!
1031 exchange?
👍👍🌹🌹
🚫 🐓
Sy Guzman haha love it!
Any investment is never a mistake
That’s probably the stupidest thing I’ve ever heard.
He’s cute for a white guy
Carlos Colossal gay....
Seemore Solutions NO SHIT SHERLOCK 😳 what was your first clue 😒
There is a 4plex in my area that I would love to buy. It would be my fist investment property. How do I know if it is a good investment? What formula do I use?
Okay so I just discovered a potential combo deal in my area’s MLS. Two very old homes listed separately, but by the same owner and realtor. On the same block as well. Together the asking value is 155k, will a bank still lend at 5% down if I buy both properties in one deal? I’d live in one and the other is already rentable.
Ryno Throwton no, unfortunately not.
Chandler David Smith I figured so. I think the numbers look good still, I’ll just have to get a little creative to secure it. They’ve been on market for 4 months and are way under value because they’re old
Ryno Throwton good luck! Go get it!
Chandler David Smith dude I appreciate that so much! I need more advice haha, this deal is actually really interesting though so I think you’d like to hear about it!
SO: this is all in the town I grew up in. The seller is the sister of the former owner- the owner died earlier this year and left the two properties in his sister’s name. I actually went to high school with the past owner’s daughter! I have basically no money right now, but I’m graduating nursing school in May and will have guaranteed employment in the area. I’m thinking I could offer the seller to do a rent to own type deal so that I can secure and live in one of the properties while building the cash for a down payment. How do you think I should approach the realtor and the seller about this? I don’t want to miss out on a deal, but also I don’t want to come off as the guy trying to make money off my high school acquaintance and her father passing.
Right now I’m thinking I should gather my plans into an offer letter and send it to the realtor so that they can pass it on to the seller. Is that how it’s done?
Thanks, and again, you’re making the world a better place!
Ryno Throwton I would meet in person and pitch it as a win win with you connection. It would still be an investment for them. If you put in an offer it’s very unlikely the realtor would go for it.
This guy gives me a headache
Walter White me??
So the mistake was backing out of the first deal?
tintman831 yep 🤦🏻♂️
Housing will tank in 2020, so in hindsite, you'll be happy it didnt go thru.
Woah...
@@ItsSupercat94 Didn't see the plandemic coming, with the foreclosure, eviction moratorium, the collapse has been pushed into late 2021.