Your 1st Home Should Make You $50,000/Year...Minimum.
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- Опубликовано: 25 мар 2022
- When we first start our real estate investment journey, our first homes should ALWAYS generate income. Somewhere a long the way, we have been taught our first home, or start home, should be a place for us to live and start our family. I'm going to say that's wrong.
Use your first source of financing to leapfrog your finances so you can increase your net worth and ability to invest. You actually are not investing when you buy a "starter home" to live in. I explain why and what you should do in the video.
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Save your seat to the live training this Monday (March 28, 2022 @ 5pm PST): www.kaiandrew.com/webinar-registration. It's free and you can join the live Q&A to ask your questions about real estate, financing, permits or even land hacking ;)
Really great video! Investment is the key to sustaining your financial longevity. And not just any investment but an investment with guaranteed returns. Also do proper research and invest with the right approach. Stocks, forex, real estate, Hedge funds and ETFs are good investments as well.
I just started my investment journey. I wish to have about 10 streams of income before I'm 30. I'm currently 26.
@@tinamanuel2305 Great plan, started investing at 37. Sometimes I wish I started earlier. it might seem like you are wasting your time now but you're making huge changes and progress. Watch out in nearest future your friends will regret why they didn't take this bold step. Keep it up.
@@Malgorzata_04 I have a full time job. I'm just looking for investment that won't require my time that's very profitable as well. i don't have much to do real estate. Can you share how you started your investment, type of investments and how you are earning from it please?
@@jeanekarussell2195 You have to start small to grow big. I started from financial market. Didn't have any clue about trading or investment but I'm glad I came across a regulated broker who is my investment advisor and trader. He handles all my trading activities and investment. One thing as a beginner is to have professional guidance at your end. You mustn't invest your time to make profit. Your broker will handle all that.
@@Malgorzata_04 Sounds good. Financial market is profitable and can make someone rich but it requires alot of effort, consistency and time. I tried it 2yrs back buh couldn't handle the statistical analysis. It's like mathematics. The only way to earn from the financial market is through a professional broker and i would like to ask who you invest with. ?
I’ve learned a lot from you over the past year watching your videos, and during our consultations. Getting ready to Airbnb my property (living in the guest house and renting the main), your insight is really invaluable, thanks!
If this is the John I'm thinking of (sorry, couple of different 'Johns' as clients/students), that is awesome and SUPER proud of you. Very wise decision. Free home and you make money. :)
My god, what an amazing video. A+ production value increase. This should be everyone's "how to get started in real estate investing" go-to.
Very high praise. Thank you :)
LoL. Great message and metaphor!
I just discovered your youtube channel and love it! But I'm bummed that I missed the opportunity to attend your live webinar. Will you have another one anytime in the near future? Please let me know. Thanks!
Respect 👍
Right back at you. :)
nice 701 t-shirt!
Hey Kai,
Have been watching you for a while and just realized your in Oregon! Are you familiar with the Oregon Painted Hills State Park? If so what’s your thought of land hacking near it? Thanks for the great content and excited for the webinar!
I have driven through that area, but am not super familiar with it. You should do a Golden Triangle analysis. ;)
We are going on our 8th RE deal and if I could go back and start with a duplex I would have. A couple of years in that would have started us on a faster path to financial independence. But the important thing is to START. But yes, don't think you've arrived if you can afford a new car payment or a mortgage. Invest and just do it scared!
Yep! Me too. Totally wish I started with duplex or triplex too. Congrats on the 8th deal!
thanks for this Kai, I enjoy your videos! curious on how much you invest in to landscaping and curb appeal. Ive got a house with a bad yard that needs a lot of work. not sure what to do or just leave it. How do you prioritize fixes/upgrades to your properties?
Curb appeal is important, but I like to create “moments” in landscaping that helps curb appeal but makes it more attractive to renters. Moments are spaces like fire pits, seating area or viewpoints. But this all depends on how much equity and rental income the upgrade can make you.
@@KaiAndrew thank you! I appreciate all your info.
I'm looking at a smaller home for my family of 3 to live in short term because the rental value of my home has recently gone up quite a bit and would be $800 a month more than our mortgage. That could cover the mortgage of a much smaller home. It seems like the simple option. But I'm really interested in land and turning some acreage into something really special. Plus I love producing our own food!
That's great! Yeah, turning land into a space to live and profit from is a great balance between living your dream and making money.
@@KaiAndrew I really appreciate how you respond to comments man!
I wish I had done this in my first house. I was hesitant as I understand a house that doesn't make you money, really isn't an asset. Or in this case it was just an equity asset. Not an income producing and equity asset as I would have preferred.
Yeah, I luckily stumbled into it, but the vast majority of people do this. I blame our education system for not teaching students the basics of real estate and personal finances.
What kind of operation?
I'm confused how can a rental cashflow minimum of 50k a year? Still couldn't find the answer after watching the video. Still looking at remote properties out of state. The thought of it sounds amazing though. Still currently wage slaving a corp job.
He’s looking at the money saved from rent AND rental income from renting out a portion of the property such as through house hacking or land hacking.
Do you do calls to talk about a potential plan for a property I just bought to land hack?
Yes Sure we can provide you all information about property
Hey Kai, do you own any land or properties abroad? I would assume that building from scratch/land hacking could have a lower barrier to entry in some developing countries.
I do not. Although I have been thinking more about it.
median household income is 79k/year which equates to 3k/month after taxes and everything? think thats a little off.
What do you do if you live in a big city and a house is $1million+? Move to a small city to afford a duplex? Most likely you'll have to take a pay cut so the increase in rental income would offset the decrease salary? I may have interpreted this wrong so please correct me.
Yeah, sometimes you'll have to move or buy outside of your immediate area. That first home I bought was when I was 21 and had to buy it about 30-35 minutes outside of the city to afford it.
Would be great if your vids had some info instead of being hyped sales pitches.
We keep thinking we're putting a lot of money into our development and it's scary but then we see some people spending even more on their house and just keep wondering how they don't ever question it. At least our house pays for itself pretty quickly! :)
Ha, yep. I see the similar habits around me.
But you still have to declare the income from renting it out as well as live in it or renting somewhere else.
True. But you rarely have to pay taxes on it if you have some tax planning.
@@KaiAndrew thanks for answering man. I am renting but with a family and i want to buy a home not to live in so I'm glad to hear my theory backed up by you because I've nobody else around me who believes in that idea! But i will have to keep renting in a separate house from my investment property. Could it still work?
Set your sail baby!!!!❤️
Are business loans ever an option when looking to start investing in real estate? Just a thought
If you're buying an actual business - yes. But terms of the loan are way worse.
okay but my shorts are far more entertaining then this!😭 bet you’ve never seen a mouse ice skate
Not really the way to grow your channel, but more power to you.
Kai should open his own Business school !!! This channel is so underrated
Lol. That's a very high compliment. Thank you :)
Hey kai, im 19 I figure the ultimate house hack would be a duplex with one side being rented on airbnb, with one of the bedrooms for me to live in with the other bedrooms rented out. Thoughts on this idea?
Hey Logan! Yeah, it's a great idea. Just make sure the location makes sense for airbnb guests and you're able to make the space look attractive. A lot of duplexes in my area are in in seedy areas and just don't look that great.
@@KaiAndrew gotcha, so I figure apply the golden triangle method, and go from there
If you want to throw away your 20s and early 30s and not have fun partying in a big city and traveling, this is ABSOLUTELY the way to go. You can think of it as an alternative to med/law school. But post-college partying can be the best move for many (unlike money, youth/stamina/quick recovery can NEVER be had twice in a lifetime) and it makes relocating to farmland a big ask.
I respectfully disagree. I did this and do not feel like I threw away my 20s or 30s at all. I actually was the "cool friend" with the luxury condo in the downtown. You're able to move fast once you build financial momentum. It's not like you're stuck buying a "land hack" project for 10+ years. Besides, partying and traveling your 20s/30s is not as fun as doing what you really want for your entire life. :)
@@KaiAndrew I was raised by a rigid "poor dad" like Kyosaki refers. But I soon saw that buckling down, over-working, and limiting time spent on pleasurable activities made life dreary and, because of chronic pain due to computer mousing, painful.
I used equity from my old house plus cashed out my IRA to buy a house cash that I can house hack in stages. The way I see it is I am buying back my time n with time comes freedom. I am also transforming who I am as a person.
The person who lives next door to me allows her rear yard to be used as a junk yard for a few dollars. She has a double lot n I told her if she makes an addition she could make a fortune. But she cannot because her self esteem mimics the junkyard .
So your priority is partying and traveling till your mid 30s then you'll figure it out from there? Lol
@@prodigy803 Many entitled people have that "let's party" mindset. In fact, many search for someone who works hard to parasite off pf while they party hearty. It's a rare person who has the foresight to be able to sacrifice strategically for long term freedom.
He is just trying to sell programs
Think broader, Nick. Keep your head up.
What a fool he thinks you can buy a farm and land hack the farm ground LMFAO if that was the case I would own 10000 acres already
Lol. Apparently Nick hasn’t heard of vineyards, lavender, mint, pumpkin or a multitude of other types of “farms”. Class, don’t think like Nick.