Are Single Family Homes a Good Investment?
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- Опубликовано: 9 сен 2024
- In this video, Yogi a.k.a. Garrett Myers talks about why he has chosen to buy so many single family investment properties. He breaks down all the differences between single family vs multifamily, including cashflow, appreciation, and even financing.
Garrett currently owns 10 single family homes, a duplex, triplex and a 4-plex. While he has recently started with vacation rentals, the majority of his single family homes are rented on a long term basis.
While multiunit properties tend to cashflow higher, there is also a growing popularity among investors, so you may consider looking into single family investments. Yogi plans to continue looking for single family homes for 3 main reasons which he shares in the video.
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Guild unlocks is amazing❣️
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Let Yogi do more on single family homes. Love his vibe and the simple way he explains things.
Another reason it's less likely to happen that way is that there is already too much demand waiting to absorb that regardless of how everyone is panicking and calling the crash. Nobody was making this prediction in 2008, at least not the general public, as I indicated below. In the other comment, it was mentioned that the ownership rate peaked in 2004. As of today, we are at the median level, having previously peaked in the second quarter of 2020. It decreased by 3% over 4 years, from 2008 to 2012, going from 68 to 65 in the second quarter of 2020.
Most people can't handle a fall because they're used to bull markets, but if you know where to look and how to maneuver, you can profit handsomely. It is determined by your entry and exit strategy.
The best market strategy at the moment is working with a respected investment coach. I've been in touch with a coach for a time now, mostly because I lack the depth of understanding and mental toughness to deal with these ongoing market conditions. During this recession, I made about $700k, proving that the market is more complicated than most people think.
@Gregory Obrien I do not have a single fund that I invest in because I have a range of jobs. I certainly don't behave that way. I model my behavior after that of RUTH LORALANN BRENNAN, a seasoned financial counsellor licensed by the US Securities and Exchange Commission (SEC). Since then, my returns have risen swiftly in contrast to the IRA's gradual development. What I have is only used by her trades, not by a few really niche businesses.
@@harod033 I promptly did some research on Ruth's past. She can control herself well. Her credentials are solid, and it seems like she was the subject of a careful examination. Foreign investors from countries other than the United States can also use her services.
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I own 6 houses in roughly the same price range and neighborhood quality. Buying my first airBNB this fall next. Slow and steady not likely to lose.
5 going on 6 myself. Nice work JWJW👆🏼
What about a property makes it more attractive to be an Airbnb?
@@tiengpham9860 more cash flow then a long term rental. Less money down if you buy it as a second home, also a lower interest rate when you buy it as a 2nd home. You can stay there free when you travel. It can be a tax write off when you stay there to name a few
That’s really impressive man, keep hustling.
Starting on our 1st one here. 👍🏼
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The adventures of Chandler & yogi
Nice video. I own 6 properties (4 single family homes, 1 5plex and 1 duplex) and there are definitely some advantages of owning single families homes. With 8-10 single family homes you can pretty much retire and only have 8-10 tenants. You can also get better tenants compared to multi families and they are more likely to treat the place as their own and take care of it. Every-time I have this debate if I should focus on cash flow only and buy more multi families or more single families. No doubt that the highest cash flow comes from my multi families but my single families have the best tenants and lower turnover with higher appreciation.
What loan and % down did you get for your single family homes?
@@Jared-th7jv I did house hacking for my first one and then started to refinance the properties (BRRRR method). A big secret to start is to create a budget and decrease expenses so you can save money for the down payment or to buy in cash. I used delayed gratification and a minimalist approach to be able to save the money I needed it to start. A side gig also. Best of luck!
Thanks for sharing your story. I also debate between single family and multi family. But you are experience brought me more clarity and I am likely going to continue my single family homes. I have two single-family homes so far in the 300 K price range.
I bought my first house at the age of 25 for $179,000 with an FHA loan so I was like $6,000 out of pocket. 5 years later I sold the house for $315,000 and walked away with about $130,000 of tax free cash in my pocket! So my vote is that yes… single family houses are good investments 👍🏻
How was that tax free?
@@mynameisjeff4231 if you sell a house you lived in for 2 of last 5 years. Tax free bud!
@@Spedfree what!! No way!?
@@mynameisjeff4231 Section 121 my friend! That's househacking for ya!
@@mynameisjeff4231 250k of the profit is not taxed if ur single n 500k if married
I also get excited to see that people decorated for a holiday or planted flowers at rentals I own. It really is a nice feeling that you provided a nice place that tenants respect.
Yes I have 30 rent houses that iv bought over the last 5years and a lot of them I bought for 40k-$60k and my rent average is $994 a month I refinanced them and they all appraised for roughly $90k-100k. I didn't even put money down in most of the them. I'm cash flowing roughly $11k a month with a gross rent of about $30k...the best decision I ever made...I also only make $43k in my day Job it can be done..
Wow u are the man Bret
Make a RUclips video about it
@@georgegonzalez866 the Mann
Brett Mann Where are you buying your houses?
@@soliver9724 Sounds like Wyoming or Alaska. OP that sounds crazy.
Motivating video. Makes me really believe real estate is the truth. Love the humble approach and the fact that I don’t feel like I’m being sold information or portrayed am Image of what it is. The transparency, humbleness and results speak for themselves.
Yogi what you do for your friend Chandler during his family health problem hard times is more valuable than the info you gave. Congratulations that's what friends are for .. I shared this video in Turkey I have 45000 followers they will watch with autotranslate and use your ideas I am the only channel giving grow with mortgage info in Turkey.
The conditions are totally different from USA as we have %40-50 inflation and cashoncash is impossible here but the good thing is the house gets totally paid in 10 years and becomes cash flow producing on the 5 the year but your loan dissolves like snowflake. So even there is inflation in local currency I make %40-50 annual in USD terms ROI. A house I paid 80000 USD on total above rents is worth 200.000 USD 7 th year and remaining loan in USD is only 6000 USD with TL depreciation my loan in local currency almost vanished :) I am 66 by the way.
Sayende tanidik Chandler ve Yogi'yi. Sen de bizim Property Yodamizsin Cihat dedem :)
That was honestly a fantastic video.
Incredibly Informative!
I wanna see more Yogi on his own channel
Yogi RUclips channel
yogi should do more episodes. love his breakdowns and energy
I like this guy's energy! Makes it fun!
I’m loving these Yogi videos. Good work
Yogi you should start your own channel man - You´re killin it!
Great video
You haven’t even watched it yet 😂
@@edgarsmclaren any video with Yogi starting is great.
Yogi seems like like a cool guy, always smiling and having fun. Thanks for the video.
I like your information because chandler is involved in multifamily real estate where I'm more interested in single family homes. But you both share great information. Thanks.
Going to buy my first few investments next year, lets gooo
I been doing the one a year deal. I'm about to purchase my fourth and live in it for 1 year and keeping buying till I have 10.
Yogi- thanks for sharing your experiences and property info!
This was a good video.
No Tax write off on a single-family home, but on a duplex, there is duplex for the Win 🎉
Wow! No taxes, insurance or cap ex! Now thats great cash flow!
Love this video! Very transparent, humble, and sharing your experience on single-family thank you
Yogi has such a great vibe 🤘
Nice to see a humble person like yourself . Very inspiring indeed .
owning a fleet of start home SFR in an area with a good school district and very little rental supply....is golden
very nice informative video, real estate is fun if you enjoy the process, well done man
Yogi, I really like your energy and the way you explain things. It’s really cool. Can you please explain how to find good realtor in any area or how to find off market properties? Thanks
@C͏h͏a͏n͏d͏l͏e͏r͏’D͏a͏v͏i͏d͏’S͏m͏i͏t͏h͏’⬛️ Hi Chandler, I saw your video where you mentioned about cancer. May God give you and your family strength to come out of these difficult times soon.
Those cash flow numbers were nice
I would assume Chandler prefers + cashflow instead of appreciation is that if the housing market crashes and prices tank, he’s still making the same +cashflow where if your houses decrease by 50% you’re losing all your value.
What about house maintenance?
Hey yogi, I think you need a promotion!
Start your own channel bro
Dudeeeee you should have Yogi more often lol, I like his vibe and also im looking into single family so his advice will be always well appreciated ... Push him to create a youtube Channel lol.
Great video! Thank you Yogi!
Solid video my guy 😁
Nicely informative video, Yogi. Thank you.
Yogi your one hell of a friend. Very good videos they are fun and informative and light :)
It's just different timing... if property values go up rents will follow and if rents go up enough it'll support property values. Barring major reasons for population trend changes.
Cihat Çiçek tavsiyesiyle
Good video bud. How about insurance, taxes, HOA fees? I did not hear you include those in your expenses.
I think taxes and insurance are included in his mortgages through escrow. These don’t look like neighborhoods that have HOAs.
Love your stuff Yogi!
I'm wondering yogi, what requirements do you have for screening your tenants? Credit score? Income? Background check? No previous evictions? Would you mind sharing?
He said that he usually uses property managers for some of his properties so most likely, they handle that for him but I think Graham Stephen made a vid about these exact questions
How do you get tenants to upkeep the yard. Every yard I've had has been destroyed by tenants.
Damn, realizing why you were filling in for him.. You've done a good thing
How are you buying these homes now with such great interest rates when you no longer plan to live in these for the first year????
I like this guy !
Multi units have been so expensive. Looking at single family homes I'm seeing more cash flow value. May go in the direction of sfh.
Awesome video yogi your doing a great job
Yogi do you know cihat hodja?
You are the man Yogi!
Love Yogi's videos!
I haven’t seen a video since chandler left…
It shows you that first deal doesn’t have to be great to do good in real estate .
Facts
Someone help me out here. He bought a house at 155k with a 3.125% interest rate and pays 660 after Escrow? I live in NYS. I paid 186k with the same 3.125% interest and my monthly expense is 1250. I didn't put 20% down (ony about 5%). Is that strictly because of taxes? I'm just really baffled by this
Hi Chandler is it possible to use 50k to invest in profitable multiplex property , how?...can u please make next video about the strategy, and where to start it? (what county / town). Thanks a lot.
Yogi or chandler can you tell me what kind of mic that is? Or better yet do a equipment video showing your equipment i want to buy that mic!!
How do you get the loans
Congratulations man you doing well, but, how do you get all down payments? Are you doing flips and selling that and you using the money for buy those houses?
did you buy this property on your name or open LLC ?
Of that $325 cash how much is net..after expenses.
what kind of loan are the homes on?
Why did that second home rent for 1300 as opposed to the first one for 600-700? Much bigger?
I'm looking for house in Calvert County Maryland
I always like to use Northgate Appliance for my unit's appliances. I've never paid more than $250 for a replacement rental appliance. I kept looking to see where you were driving, to see if I could see my rentals in a background shot haha. Great info, thanks for the continued videos, even though Chandler has abandoned us. It's almost like he's too important now. haha JK
Dude what is with that underground house?!\
Is each home under a different entity?
You could be in the next Super troopers movie lol
Hows the weather in Idaho?
I live in California the most expensive place to live 😔
I just closed on my first investment sfh here in LA and want to invest out of state. What Idaho areas/cities are good places to look for SFH? I hear Ohio is another state that has good roi
nice
Tenants who’ve lived in homes for 3+ years are the greatest ones haha
Did you really just say less competition? Everyone is buying single family not just investors so massive competition. The opposite of less competition. The most competition of any real estate.
Rent income is $800/mo and your mortgage is $625. That only leaves you $175 left to pay for taxes, insurance, repairs/maintenance, etc. So basically no cash flow, or negative cash flow
His mortgages probably include taxes and insurance through escrow.
@@halimahortonwhite7597 Ok so $800 - $625 mortgage/taxes/insurance = $175 left per month to pay for repairs/maintenance. That still isn't enough. If he ever has to replace the heater in the house, it will wipe out cash flow for the next 8 years, provided nothing else goes wrong over those 8 years.
@@jgg204 write offs?
@@Ricocase write offs offset tax liability on rental income. this property doesn't have any cash flow
@@jgg204 thx, thought he had multiple properties within his portfolio.
Were most of your single family homes that you bought were already ready to rent with no rehab?
This video was awesome! Really liked Yogi!
I free single family appreciates more and multi-units will get you better cash flow but won't appreciate as much.
17 Rentals and Flip one house each year. UGOBOIE!
Cash flow is king... and your cash flow is extremely low.
I never will touch a property no less than 400 / a month with all expenses paid
I would say more like C- homes....
3:59 seat belt please
You sure do have a man crush on Chandler
Underground house?wtf. Is this an Idaho thing? Never heard of it
👍🏼
Subbing for more Yogi content
They are if you have no morality!
It’s so damn cheap to buy those cartonbox houses in the USA compared to the rents the are bringing in. If I would return to the US with a salary like I have in Switzerland, I‘d be freaking rich. But in the other side of the medal the medical healthcare system is trash...
Cool story bro