This was like the world's nicest 4 plex. I feel like you added the dog poop for dramatic effect. Do a walkthrough of an ugly four plex and do commentary. I'll bring the popcorn. Keep up content.
Nice content. I’m in the biz. I look for : roof, structure(basement or slab), under all sinks, hot water tanks, floors around toilets and tubs electrical situation, windows, trim and exterior siding. Thanks!
Hey Chandler! Any updates on this 4 plex? What became of those steps? Who was the right contractor? What if the siding was bad on the house? How would you address that? What if sections of the siding was badly damaged how would you go about that? I ask because it was an old place how would you match it if only sections of the siding needed replacement? This 4-plex looked like a dream! Thanks Chandler.
Subscribed! Im preparing to buy my first multi family at 21years old and Im being ALOT more strict with my numbers than you are in this video. 310k and $800/month per unit and you say it’s very profitable? That’s great to hear! This video is telling me to stop being so picky and just buy already 🤗
Skip ahead and Look at 4:44.....ain't that the same back yard from Call of Duty?......anyway thanks for the fantastic knowledge I learn lots from u....like dog poop etiquette lol.
+1 sub :) I Found you through the Vegas experience intro video. Great video. Really enjoyed your story. Good video walkthrough. Interesting purpose built 4 plex. I love that each has its own garage!
Chandler, I know this is an old video. But that 7 to 10% was paying cash for the property? What would the return have looked like if you paid in cash and in full.
@@tamirajohnelle4700 You have to live in it if you took a loan as an owner occupant. This strategy also allows you to put the lowest down payment possible. Check with your lender.
Awesome video, thank you Chandler. Now may I ask why you decided to do a 1031 on a turnkey property? Isn't the name of the game for building wealth through RE investing is by adding value and refinancing or flipping? Even with a $100 increase in rents, would this be worthwhile holding factoring in mortgage/maintenance/vacancy fees? You would have to wait 5-10 years to build enough equity in this turnkey before you can refinance to cover fees and have enough to move on to something else. Thank you in advance for your time.
The Average Moe I’m not sure I’m understanding your question. We did a 1031 exchange from a single-family residence that we had built up a substantial amount of equity in and we used all of the money from that to purchase this for Plex. This for Plex was purchased as a buy and hold investment. Does that answer your question? Or can you clarify?
@@ChandlerDavidSmith My apologies for the confusion. You said you bought the SF for 215k and put a bunch of work into it, my assumption was you outsourced the work and paid for labor. You then said you sold it for 275k within 1-2 years and did a 1031 - how much equity was actually built in? 215k + labor costs seems like no equity if you only held for a year or two since its a SF. My point here is from my understanding of your deal you did not have that much equity built in for such a short period hold + the cost of the home + reno cost + closing costs. Exchanging the SF property for a turnkey would tie your money up since you cant further value add and flip/exchange for something bigger. You would have to wait a substantial amount of time and pay down the loan before you can use the money tied into this property and move on to something bigger. When people do a 1031, they usual advise into buying something bigger that needs work so you can repeat the same process as the prior house. Was your goal to stick with this a 4 plex long term? Any plans to flip or refinance? Just a heads up, I am a fan of your work - I don't mean to be rude, I am just trying to learn more from someone with more experience.
@@ChandlerDavidSmith So should I save for at least a 20% down payment for a duplex instead of paying extra on mortgage? I appreciate your advice and knowledge. I'm learning as i go.
I found a nice duplex its brand new built in 2020 but its in a very bad area of town I feel like people will just take the money I want to charge for rent and go find a place in a nicer area of town HELP ! what do I do !
What city are you invested in? Over here in Upstate NY we have alot more duplexes and tris but very rare to see that many 4 plexs anywhere around here.
Is this taking place in the United states? if so what state? I'm learning a lot about this and the tax laws that benefit landlords I heard you mention 1031 exchange so I am assuming the U.S. I'm helping another real estate developer with a 65 unit development so I am hoping to learn more about management and different codes. I do the paper work and work with a team. but learning to do more is always important for growth.
Hey Chandler I have a question. What happens if the property you are looking at has current tenants living in it? How would you recommend being able to get a look around inside without being intrusive and just walking through their bedroom?
Ben if you have the owner let them know then you are all good to be intrusive. I love when tenants are there so I can ask them about any issues with the property.
Hi Chandler, curious how many rentals do you currently have in your portfolio? I currently focus on short-term rentals through rental arbitrage but am looking at investing in multifamily. Are you able to cash flow enough so this is your full-time job?
I have 71 doors. It’s not my full-time job but it does provide enough passive income that it supports my lifestyle. I keep my full-time job because it pays me extremely well and funds my passion for buying more real estate!
@@ChandlerDavidSmith Wow you got it all figured out! I've watched about 50+ of your videos over the last week. Keep up the good work man! I just turned 33, and am greatly motivated by your accomplishments (I assume you're in your 30's?).
Chandler David Smith I’ve gotta start looking into other states, the only thing that sucks is I don’t live out there. Been waiting for a housing crash in California meanwhile
@@ChandlerDavidSmith Sure, understood, we appreciate the content all the same. Thanks for the response, I'll check out your other videos as well, liked and subscribed~ Take it easy brother~
The dog poop was an improvement to your shoes. You didn’t mention how much rents are, or how much the building is selling for. That’s the problem w/fake gurus
You're a great example of what a slumlord ISN'T. Excellent video.
Nikki H thank you so much!
I loved being able to see a walk through in action! Very informative - thanks for sharing
Madalyn Smith thanks for watching!
This was like the world's nicest 4 plex. I feel like you added the dog poop for dramatic effect. Do a walkthrough of an ugly four plex and do commentary. I'll bring the popcorn. Keep up content.
Hahaha thanks man 😂
This is my new favorite real estate investing channel on RUclips
I love this walk through style video, feels like I was there with you
Same here i love it!
Zachary Laid Finding Freedom thanks so much! Glad you liked it!
Nice content. I’m in the biz. I look for : roof, structure(basement or slab), under all sinks, hot water tanks, floors around toilets and tubs electrical situation, windows, trim and exterior siding. Thanks!
Nice! Thanks for watching and commenting
Your so calm and easy to listen to man. Keep it coming. Great post.
Hey Chandler! Any updates on this 4 plex? What became of those steps? Who was the right contractor? What if the siding was bad on the house? How would you address that? What if sections of the siding was badly damaged how would you go about that? I ask because it was an old place how would you match it if only sections of the siding needed replacement? This 4-plex looked like a dream! Thanks Chandler.
" because I don't want to track in..." dog poop😂
I'm here from the meet kevin collab..loving your channel so far.
Butchan Crawford thanks! Haha glad you liked it! Kevin is the man!
Subscribed! Im preparing to buy my first multi family at 21years old and Im being ALOT more strict with my numbers than you are in this video. 310k and $800/month per unit and you say it’s very profitable? That’s great to hear! This video is telling me to stop being so picky and just buy already 🤗
Mia Navarro that’s awesome! Congrats! Love it!
Just make sure it cash flows.
Send A Raven amen!
Hey so this was 2 years ago, how did it go!?
How’s it going?
I too like metal roofs. Love the sound rain makes
Great buy and I definitely feel your pain on passing up the fourplex next door. That looks like a great property on curb appeal alone.
John Doe ya! It was a rookie mistake! Haha should have pulled the trigger!
That tub you can keep and just get it refurbished for around 300 bucks you should look into it or your can do it your self costs 50 for materials
You should do more like these, I’m loving these vlog/informational type video
Skip ahead and Look at 4:44.....ain't that the same back yard from Call of Duty?......anyway thanks for the fantastic knowledge I learn lots from u....like dog poop etiquette lol.
kelton gresham haha that’s awesome! Thanks so much!
Nuketown!
Trying to find my first multi-family home in Kentucky. Got the financing and everything but the deal! It's a grind ahh
Some basic window shutters would make that fourplex pop, and maybe help the appraisal!
Kellan - Real Estate / Financial Independence so true! Thanks for watching!
Wow great property! love to know what the actual rents end up being and seeing the numbers on how it cash flowed!
How is there only 9,000 subscribers?! Content is too good! Keep these videos coming. Like seriously.
Skylar Lofton will do! Thanks so much!
Wow 100k a year later ✌
@@alexg8460 dang!
Super informative! Idaho Falls looks like a great market for investing. I'm sure your advise will work in just about any market. Thanks!
Kristine Smith thanks!
GREAT WALK THOUGH
SUPER 👍🏾COOL
- MINUS the DOG POO 💩
Lol 😂
matthew conner haha thank! Glad you liked it!
Yo super informative video for 15 minutes and you gained a subscriber off of this
Thanks👊🏻
+1 sub :)
I Found you through the Vegas experience intro video. Great video. Really enjoyed your story.
Good video walkthrough. Interesting purpose built 4 plex. I love that each has its own garage!
13k views in 2 days!! that's insane! I'm doing something wrong - we need to chat in Vegas.
Mike Rosehart thanks for watching!
So should I save at least 20% for a down payment on a duplex instead of paying extra on my mortgage? Thanks for your advise. I'm learning as i go.
Frank .M yes! Put that money towards a rental property!
Going through all videos! You bringing so much value. Thank you
Wow, cool to see another Chandler out there. Nice to meet you chan the man :)
The pleasure is mine 😜
Quality content. Plus you drive a Raptor. Subscribed 🤙🏼
Caleb Jordan haha thanks man! Glad you liked both 😘
Chandler, I know this is an old video. But that 7 to 10% was paying cash for the property? What would the return have looked like if you paid in cash and in full.
Great Video! Really stepping up you video game - love it!
Matt McKeever thanks man! It’s an honor to have the real estate legend himself comment! You are the man!!
Thank you! Great video and informative! 👍
O'Beezee thanks!
This video is great! Would love more walk throughs like this. Thanks for sharing!
Did you have to live in your first multi family property for 12 months.. If so did you feel safe in the property and neighborhood?
Tamira Johnelle I never lived in one of my multi family properties.
Chandler David Smith oh wow okay. Thank you. I’ve always heard that you have to live in it for 12 months..
@@tamirajohnelle4700
You have to live in it if you took a loan as an owner occupant. This strategy also allows you to put the lowest down payment possible. Check with your lender.
Awesome video, thank you Chandler. Now may I ask why you decided to do a 1031 on a turnkey property? Isn't the name of the game for building wealth through RE investing is by adding value and refinancing or flipping? Even with a $100 increase in rents, would this be worthwhile holding factoring in mortgage/maintenance/vacancy fees? You would have to wait 5-10 years to build enough equity in this turnkey before you can refinance to cover fees and have enough to move on to something else. Thank you in advance for your time.
The Average Moe I’m not sure I’m understanding your question. We did a 1031 exchange from a single-family residence that we had built up a substantial amount of equity in and we used all of the money from that to purchase this for Plex. This for Plex was purchased as a buy and hold investment. Does that answer your question? Or can you clarify?
@@ChandlerDavidSmith My apologies for the confusion. You said you bought the SF for 215k and put a bunch of work into it, my assumption was you outsourced the work and paid for labor. You then said you sold it for 275k within 1-2 years and did a 1031 - how much equity was actually built in? 215k + labor costs seems like no equity if you only held for a year or two since its a SF. My point here is from my understanding of your deal you did not have that much equity built in for such a short period hold + the cost of the home + reno cost + closing costs. Exchanging the SF property for a turnkey would tie your money up since you cant further value add and flip/exchange for something bigger. You would have to wait a substantial amount of time and pay down the loan before you can use the money tied into this property and move on to something bigger. When people do a 1031, they usual advise into buying something bigger that needs work so you can repeat the same process as the prior house. Was your goal to stick with this a 4 plex long term? Any plans to flip or refinance? Just a heads up, I am a fan of your work - I don't mean to be rude, I am just trying to learn more from someone with more experience.
Great, educational video. Thank you!
Subscribed! Man, I wish we had the 1031 exchange in Canada. That flip you sold for $275k had some beautiful curb appeal!
Kellan - Real Estate / Financial Independence it is a HUGE advantage!! Thanks man! It was a fun property!
Chandler, can you tell us about plumbing on old homes, what to look for? Thanks in advance!!
It would be better to pull up the rug and replace it with laminate flooring.
Can you do a video on a financial breakdown? This looks like a great property. Also, nice video
At what point in the buying process did you get a formal inspection? After your offer, but before escrow?
Good morning. What was the link to calculate what the rent market is?
Do you generally rule out a property that is built before a certain year? e.g. nothing older than 1970
Luke Schmidt not necessarily. If it’s good good bones and the right numbers than I’m down.
In order to qualify for a 1031 exchange do you have to own the property that you're using (exchanging) for a specific time-frame?
Mike L. He. Thanks believe it’s 2 years but I could be wrong.
How much did you put down for this property? And what credit score did you have at the time?
i got about 2 more years to pay off my house but i'm dying to buy a duplex NOW. Any advice?
Frank .M that’s awesome but why are you paying off your house? I have 67 doors of rental real estate and I don’t have my house paid off ha ha
@@ChandlerDavidSmith So should I save for at least a 20% down payment for a duplex instead of paying extra on mortgage? I appreciate your advice and knowledge. I'm learning as i go.
Frank .M yes! If I was you I would even consider refinancing the house and buying multiple rental properties with the money you pull out.
What do you mean no room for washer and dryer wasn't that the other room you just looked into that had a washer and dryer to Collector more money
I found a nice duplex its brand new built in 2020 but its in a very bad area of town I feel like people will just take the money I want to charge for rent and go find a place in a nicer area of town HELP ! what do I do !
Update?
You said you're planning on increasing the rent but what were they rent originally and what do you think you will be able to raise it to?
bro you read and reply on all comment👍 ...... all the way from India
Except yours
It’s been 2 years how is the property did you increase the Rent how are things
New sub just saw you with MeetKevin channel .
Y'all awesome
Godspeed
I always walk the property with my contractor right next to me I get an estimate on the spot
Great vid
What city are you invested in? Over here in Upstate NY we have alot more duplexes and tris but very rare to see that many 4 plexs anywhere around here.
Matthew Dolfinger in Idaho! Duplex’s and triplexs ate great options too!
Is this taking place in the United states? if so what state? I'm learning a lot about this and the tax laws that benefit landlords I heard you mention 1031 exchange so I am assuming the U.S. I'm helping another real estate developer with a 65 unit development so I am hoping to learn more about management and different codes. I do the paper work and work with a team. but learning to do more is always important for growth.
G0SuBunnY Thank you, yes it is in the United States in Idaho
Very informative - thanks. Was there mould in the bathroom in the tiling area? If so, would that be an issue?
ok, thanks for explaining that.
Business English Success maybe a little but it’s not a major issue. We can get that cleaned up easy! Thanks for watching!
What if there are tenants, how can you do a walk-through?
When I walk a property I never ask the tenants to leave. You can learn so much about a building and current management from tenants.
BambooScar ya it’s great when they are their because you can talk to them about the place!
if you buy it cash. Would the cashflow be enought to live off?
when you need some more lifestyle fitness vlogs, i got you cause this was sick man, thanks for the help
Gareth Bretton thanks man! Glad you liked it!
Which state do you recommend for investing?
How do you back out if you don't like it?
Where is this? That would even cost much more in nearly every area of Texas. Great job!
Idaho! Thank you!
Great advice and l learned something from you. Thanks and new sub
Tina teews thank you!
How often do you allow pets in your apartment and smoker as well
Great video - Chandler what kind of camera did you use for this walkthrough? I'm doing walkthrough in Little Rock soon wanted to do the same
The Rise to Wealth by Clark Meyer I have a nicer camera but for this video I just used my IPhone X
Great investment property!
Michael Miller thanks!
what % did you use for maintenance & cap ex for this property?
What did you pay, and what are monthly rents?
@@ChandlerDavidSmith Congrats on the buy!
ATXAM 310k and should be able to get 750-800 per unit.
Can I know what city it is ? I am interested in buying as well. Can you help ?
Hey Chandler I have a question. What happens if the property you are looking at has current tenants living in it? How would you recommend being able to get a look around inside without being intrusive and just walking through their bedroom?
Ben if you have the owner let them know then you are all good to be intrusive. I love when tenants are there so I can ask them about any issues with the property.
Awesome 👍
Nice 👌
great video
Great info..Where is that at?
South Dakota has no income tax
How much would the rent be in one of those apartments?
Estafon Mcphee 750-850
@@ChandlerDavidSmithin nassau Bahamas it the same price, But that's fair enough.
Estafon Mcphee if you have the option to live here or in the Bahamas I would take the Bahamas ha ha Ha
@@ChandlerDavidSmith Lol
What would y’all recommend to save up before going in on one? Down payment wise and reserves?
yes always have reserves. Co-vid is a perfect example of why they are important
ugh, I wish Canada had a 1031.
What town is this? Looks really clean.
goosecouple Idaho falls. Thanks!
Great property steal of a deal
Hi Chandler, curious how many rentals do you currently have in your portfolio? I currently focus on short-term rentals through rental arbitrage but am looking at investing in multifamily. Are you able to cash flow enough so this is your full-time job?
I have 71 doors. It’s not my full-time job but it does provide enough passive income that it supports my lifestyle. I keep my full-time job because it pays me extremely well and funds my passion for buying more real estate!
@@ChandlerDavidSmith Wow you got it all figured out! I've watched about 50+ of your videos over the last week. Keep up the good work man! I just turned 33, and am greatly motivated by your accomplishments (I assume you're in your 30's?).
Maybe at least the floors and paint
I’ve been told jacking up rents can increase your vacancy rate....?
It can if you don’t do it right 😜
do yu think investing in a college town is a good idea
WOW... dated for sure!! You can put a washer and dryer in the closed??
G.T. G 1 heck ya!
This looks like a nice property man, what area is this?
Chandler David Smith nice man. Seems very affordable in that area. Here in a California prices are ridiculous
Chandler David Smith I’ve gotta start looking into other states, the only thing that sucks is I don’t live out there. Been waiting for a housing crash in California meanwhile
Zachary Laid Finding Freedom thanks! Idaho!
What's the locations?
Idaho
Recommend investing in a mic bruh~
Jarod Marrington Agreed, this video was earlier on, on just an iPhone ha ha check out my other videos
@@ChandlerDavidSmith Sure, understood, we appreciate the content all the same. Thanks for the response, I'll check out your other videos as well, liked and subscribed~ Take it easy brother~
Jarod Marrington thanks man! Appreciate it!
What website did your intro ?
Shawn Afshar just someone on fiver haha
Shawn Afshar thanks for watching!
The dog poop was an improvement to your shoes. You didn’t mention how much rents are, or how much the building is selling for. That’s the problem w/fake gurus
So did you buy the 4 plex on Garfield?
Paul JAY C yes! Haha
Use the bed of the truck to see the roof
Leonid Semenov not a bad idea! Next time 😜
Would you recommend I cash out my 401k to invest in real estate?
Why not ?
What state is this
“That’s a bum deal.” LOL
That whole town is full of multi family units
Sterling Sansing ohhh ya! Lucky me! 🤑
Actually? It's like super awesome! Not a actually a super bummer, dude-bro, actually.
iowasenator rock on 🤙🏻
What state are you located in?
Darnell Lewis Idaho
Idaho is great, the real estate market is booming in my area.
What city is this in?
sam phan Idaho falls
That IROC?!
Chandler David Smith the camaro haha I’m a sucker for cool cars.
Chandler David Smith yeh not much for trucks but yours looks nice. 👍🏾
Ezekiel Valdez haha thanks!