I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@ЕленаФирсова-ц6м The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
There are a lot of strategies to make tongue-wetting profit that the average joes don't know. . Personally, the financial-market for me seems the only way forward with my long time horizon (accrued roughly $457k in gains since Mid 2021 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe!
If you’ve got patience I believe it’s a great time to invest… I’m no expert but as Warren buffet said he’s seen this happen a number of times throughout his life
@@georgerobinson2021 Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *PRISCILLA DIANE AIVAZIAN* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.
@@raychristopher7797 That’s great, your investment advisor must be really good, I have seen testimonies of people using the help of investment advisors in making them more financially stable. Do you mind sharing more info on this person?
This seems like the worst investing period. Started investing recently when the market prices were a bit high, today I am more than 60% down! Hopefully, the markets will go back up.
You should have used a Robo-investing platform or traded with Charles Matthew Alsip or any other regulated expert. As a complete beginner myself, I have made over $30K in less than 5 months with him.
Sadly, if you're down that much you didn't do very much research. Being down a few percent right now is fine due to the market, but 60% is crazy! Watch different vids before investing in any other thing, go for low risk index funds or better still, try out charles matthew alsip he is good. I can see people have suggested already.
I bought my first house at the age of 25 with an FHA loan. I had the sellers pay the closing costs so I was only like $5,500 out of pocket total, on a beautiful remodeled home in Scottsdale. I sold it 5 years later and walked away with $130,000, tax free!
Pooge Onmyway None of that matters! I’m not trying to mislead anybody! I’m saying I put a little bit down on my primary residence and walked away with a massive pay day just 5 years later! If I was renting an apartment for those 5 years I think that it’s basically guaranteed that I wouldn’t have saved $130,000!
@Pooge Onmyway That is true, but even if he spent 10-15k on maintenance. He lived there. If he lived in a rental for 5 years, he'd be down 70k. This way he lived in a house, and came back with equity.
Get the property, stay in it while you rehab and raise rates, then move into the garage for the summer while you rent out your unit. Make some extra rent for 6 months or so. Finish out your time and then find that next property. For some reason my daughter is not liking the idea much, but I think I can talk her into it...LOL
@craigbrown7886I will introduce you to my account manager Mrs Victoria Q wilson of UCLA Anderson financial institution she's great and her methods are working for me at the moment
@April Austin Ever since I lost my job with the ministry, I have been surviving through my investment with Miss Victoria, I'm so glad I invested when 1 did.
@@annmannings1840 You are absolutely right, I have been working with her for months now, so efficient and professional, always making huge profits for me
@@millerwoods1343 I invested with her after I got a loan from a friend and now after receiving profit, I paid my friend and reinvested over and over again. I must say she's a very transparent and honest person.
I’m new to stocks and cryptocurrencies and would like to start trading them but I've got no idea how to make good profit. what's the best way to get started with trade cos I've been making my personal research for a while now
First thing to do is to stop all forms of personal trade and seek the help of an expert to guide you through. Alot of people shy away from this thinking they could do it alone and end up blowing up their account.
I've lost nearly $4000 in my demo account, used alot of strategies I saw on youtube and read online, what advice do you have for me, which strategy should I focus on?
I really enjoy all of your content, can’t wait till more! U inspired me to make my own channel about finance, stocks, business, real estate and more! I’m 13 with about $1700 in stocks
Great video, Chandler. Just to be clear for somebody who may not know, you can only have 1 FHA loan at a time. So, if you are planning to get more than 1 property, you will need to refinance to conventional or sell, or use conventional (or other) type of loan for the next property. 👍
You can have more than one FHA loan. There are exceptions: "The Department of Housing and Urban Development (HUD) will allow a borrower to have two FHA loans but only under certain circumstances such as a bigger family size or because of job relocation (over 100 miles from current primary residence)"
If you go the partnership route, if the loan is in their name how would you make sure they dont take advantage of you? I'm guessing getting both your names on the title to the home??? I'm not sure, curious to know how you would cover your bases and not get screwed?
Chandler, thank you for sharing this with us but it is very confusing. I did not understand a word you say. I did not clearly understand how to multiply this amount of 10 000 dollars?
Awesome video chandler! This question comes up a lot on the forums (Bigger Pockets for example). I'm glad you pointed out that you need cash reserves as well. A lot of people forget that part ;)
Another good video. I have never attempted to use an FHA but a VA is somewhat similar and I have run into a significant issue. Back story: I got out of the Army a couple of years ago and became a General Contractor in Washington State outside of my last duty station. I had the intention of flipping but the market was not conducive for me given my lack of established network. It is now two years later and we have left the insanity that is Washington for the promise of Idaho and looked to purchase a multifamily with said VA loan. The advantages are numerous but the difficulty is that Canyon and Ada counties are so competitive that the potential difficulties of a VA loan make my offers less appealing. We offered $40k over asking on a place and lost out to an at asking cash offer. I know that cash is King but it appears that I don't stand a chance here either. We are renting now and waiting out the twelve month "establishment period" for self employed individuals so that my income can be counted but I hate throwing away money on rent every month. Keep the videos coming, love them. Justin
yes - but it only works for me if I purchase a property that needs considerable rehab - so that's what I do. I have a whole strategy I use - and there are several good channels here on youtube where you can learn more about it
In Turkey you can get a mortgage on 2 friend partners and title on both names. you just have to make a written agreement to sell it in like 10 years and split the profits. just like partners in a store but much secure investment like a real estate.
I don't have a license - but am an investor. I decided I didn't need it because I have absolutely no desire to help other people buy / sell houses. just my thought...
It doest matter!!! To be honest I wish I had my license because you direct access to the MLS, when pulling comps its important also I'm in the process of buying a rental and Realtors are horrible!!! Remember 90% of realtors arent investors so they dont understand how investing works. Also ove wholesaled real estate and this doesn't also stop you . Having a license only provides value to yourself
This makes sense and is all well and dandy, but my local market you'd be lucky to get a 350sqft studio for $100k. I need out of state investments unfortunately.
Chandler !! Love your content buddy!! I am in the pest control business also.. but only in the service industry not sales. Is there a limit on how many FHA loans you can acquire? In your portfolio?
Going through this now. Most lenders are saying the only ones that qualify for FHA are the ones that will live in the property. So, for example in my case: we have 3 guys going in on it. 2 of us will live there, one will not. The one who will not live there can't be put on the FHA loan, because he's considered an investor. He also can't help with the down payment per fha rules( you can only receive "gifts" from family). Workaround: get the FHA loan with those that will live there. After closing, add the outside person to the deed. Have the outside person cover PITI and reno until they've paid back their percentage(that would have otherwise gone to initial down payment). Then, after a year refinance into a conventional so everyone can be put on the loan.
Nobody talks about the 2yrs work history in the same job field that the lender requires in order for you to get the loan. And the FHA title seasoning period means nothing because you can just move out cause “I didn’t like the home” . If they try to foreclose it’s going to take at least a year. You’d sell the house by then
True! credit score needs to be around 640. I was 4 points off and paid my credit cards down. Since, I lost my job and started freelance work. I didn’t know I had to be in the same field. I was told that I need to come back after proof of 6 months of full time work in social service. Then maybe I can get the FHA loan of $180,000. That amount gets you a house in a poor community in chicago that I would hate to live in with my kids!
@@Greenpeppers307 if the area is gentrifying that’s a good area then. Location is second most important after purchase price in my opinion. Cause you want the power of appreciation to work for you.
Hey Chandler can I use an FHA loan on my current, primary house, which I have lived in for 40 years? What's your advice to house hack my own primary residence? Best rate? Best deal? How big a loan could I get on my house and can I use that same loan to fix up my house and put what's left on another purchase? Thank you!
FHA lones 3.5% 😳 (6 months reserves, 25% 10% on 10% cash return minimum MIP) Conventional loan 5% down Go (PMI) Partnership 50% ownership, take care of management, property maintenance, 🤯that’s a come up 😂 RIET Thank you for the info! Appreciate the insiders.
Same here, Chandler. I have trust issues. I need to be in control of my money, and I also like doing things on my own without a partner. A personal friend with money mentioned he wanted to invest hands off. He doesn't know it yet, but I've already turned him down. :)
A hard no for me, Crypto fiat market goes much harder with more ROI, been with this private company for 3 years now and honestly I just quit my job cause it doesn’t earn me squat compared to my profits with them
Hey Chandler. But if I put in 50% of the cash for the down payment I still have to manage the property and/or pay a property manager? How does the deal change for me if I have to put down 50% of the cash down payment?
@@ChandlerDavidSmith Could you recap xactly what I'm bringing to the table? I pay 50% of that cash dwn payment & the other person pays 50% of the dwn payment. Right? But what xactly am I responsible for property wise? I'm guessing I'm paying PITI?
@Pooge Onmyway it's called a conventional 97 some places will some won't. The extra 2% doesn't really change anything unless your in an expensive market
Too bad you can only have one FHA loan at a time and it has to be your primary residence. Also I prefer to save up the 20 and 25 percent. Mortgage insurance runs about 160 to 200 bucks a month where I live. No thanks, I’m not letting that cut into my cash flow
I am a traveling nurse and want to start investing. What kind of loan do you think would benefit me more? Can I get an FHA loan even though I’m required to travel for work?
I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.
I feel your pain mate, as a fellow retiree, I’d suggest you look into passive index fund investing and learn some more. For me, I had my share of ups and downs when I first started looking for a consistent passive income so I hired an expert advisor for aid, and following her advice, I poured $30k in value stocks and digital assets, Up to 200k so far and pretty sure I'm ready for whatever comes.
@@ЕленаФирсова-ц6м That's actually quite impressive, I could use some Info on your FA, I am looking to make a change on my finances this year as well
@@IfranReinfeld My advisor is *MARGARET MOLLI ALVEY*
You can look her up online
@@ЕленаФирсова-ц6м The crazy part is that those advisors are probably outperforming the market and raising good returns but some are charging fees over fees that drain your portfolio. Is this the case with yours too?
There are a lot of strategies to make tongue-wetting profit that the average joes don't know. . Personally, the financial-market for me seems the only way forward with my long time horizon (accrued roughly $457k in gains since Mid 2021 ) but if you don’t have that fortune of time it’s a tough market out there almost nowhere feels safe!
If you’ve got patience I believe it’s a great time to invest… I’m no expert but as Warren buffet said he’s seen this happen a number of times throughout his life
@@georgerobinson2021 Whichever firm you select, make sure you get your insurance from a reputable financial adviser, such as *PRISCILLA DIANE AIVAZIAN* who has dedicated her career to financial planning. Because they will assist you in escalating, navigating better, and completing the task in a safer manner.
@@raychristopher7797 That’s great, your investment advisor must be really good, I have seen testimonies of people using the help of investment advisors in making them more financially stable. Do you mind sharing more info on this person?
@@georgerobinson2021 Surf the web for her info it's easier to get on her webpage.
@@raychristopher7797 Okay, thank you. I just found her website very impressive and dropped a message for her.,. I hope she replies to me
This seems like the worst investing period. Started investing recently when the market prices were a bit high, today I am more than 60% down! Hopefully, the markets will go back up.
You should have used a Robo-investing platform or traded with Charles Matthew Alsip or any other regulated expert. As a complete beginner myself, I have made over $30K in less than 5 months with him.
@@aguilarkristine7022 Most of the pros here on YT and lg copytrade him. That is how they make enormous profits from the seemingly unknown market.
Sadly, if you're down that much you didn't do very much research. Being down a few percent right now is fine due to the market, but 60% is crazy! Watch different vids before investing in any other thing, go for low risk index funds or better still, try out charles matthew alsip he is good. I can see people have suggested already.
I bought my first house at the age of 25 with an FHA loan. I had the sellers pay the closing costs so I was only like $5,500 out of pocket total, on a beautiful remodeled home in Scottsdale. I sold it 5 years later and walked away with $130,000, tax free!
Love it!
Pooge Onmyway None of that matters! I’m not trying to mislead anybody! I’m saying I put a little bit down on my primary residence and walked away with a massive pay day just 5 years later! If I was renting an apartment for those 5 years I think that it’s basically guaranteed that I wouldn’t have saved $130,000!
@Pooge Onmyway That is true, but even if he spent 10-15k on maintenance. He lived there. If he lived in a rental for 5 years, he'd be down 70k. This way he lived in a house, and came back with equity.
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
Get the property, stay in it while you rehab and raise rates, then move into the garage for the summer while you rent out your unit. Make some extra rent for 6 months or so. Finish out your time and then find that next property. For some reason my daughter is not liking the idea much, but I think I can talk her into it...LOL
Such an underrated comment, thank you for the tip 🙂👍
If you have time I could sit and watch an hour long episode from you. You are a master with the information in your videos.
Thanks so much!
This is great Chandler you made me finally jump in last month and currently submitted an offer on a investment rental. Thanks a TON!!!
Love it! Congrats!
@@Headeatemup you might be screwed. You gotta keep that credit score high. Gettin behind on payments is setting yourself up for failure
Thank you 😊 for this video, do you offer account management or have any recommendations?
Investing in crypto is lucrative especially with the right expert
@craigbrown7886I will introduce you to my account manager Mrs Victoria Q wilson of UCLA Anderson financial institution she's great and her methods are working for me at the moment
@April Austin Ever since I lost my job with the ministry, I have been surviving through my investment with Miss Victoria, I'm so glad I invested when 1 did.
@@annmannings1840 You are absolutely right, I have been working with her for months now, so efficient and professional, always making huge profits for me
@@millerwoods1343 I invested with her after I got a loan from a friend and now after receiving profit, I paid my friend and reinvested over and over again. I must say she's a very transparent and honest person.
I always thought I needed a ton of cash to start investing in real estate - I'm so glad I was wrong! great video!
Thanks!
Go get it!
I’m new to stocks and cryptocurrencies and would like to start trading them but I've got no idea how to make good profit. what's the best way to get started with trade cos I've been making my personal research for a while now
First thing to do is to stop all forms of personal trade and seek the help of an expert to guide you through. Alot of people shy away from this thinking they could do it alone and end up blowing up their account.
The success behind my profit earning in crypto investment is not solely on my skills but with the help of my broker Mrs Naomi Connor
Trading has left me no choice than to keep investing with Naomi Connor👍👍 she makes so much profit for me.
@@elsiemonroe7942 I have been Investing and trading and still yet to earn my first profit. what strategy did you use pls?
I've lost nearly $4000 in my demo account, used alot of strategies I saw on youtube and read online, what advice do you have for me, which strategy should I focus on?
I really enjoy all of your content, can’t wait till more! U inspired me to make my own channel about finance, stocks, business, real estate and more! I’m 13 with about $1700 in stocks
what the hell happened to our generation
13 making videos on Roth’s. Congrats man, hope my kids get on this level. Well done.
Nicholas Thibodeau thanks man
Send me your link ? I want to check you out and follow your content ? 🙌🏼👍🏼
Conservative Atheist thanks
Great video, Chandler. Just to be clear for somebody who may not know, you can only have 1 FHA loan at a time. So, if you are planning to get more than 1 property, you will need to refinance to conventional or sell, or use conventional (or other) type of loan for the next property. 👍
Thanks!
You can have more than one FHA loan. There are exceptions: "The Department of Housing and Urban Development (HUD) will allow a borrower to have two FHA loans but only under certain circumstances such as a bigger family size or because of job relocation (over 100 miles from current primary residence)"
I thought you could only get an fha loan one time ever? 😂 someone educate me please
Where are you getting duplex or 4plex for less then 300k??
If you go the partnership route, if the loan is in their name how would you make sure they dont take advantage of you? I'm guessing getting both your names on the title to the home??? I'm not sure, curious to know how you would cover your bases and not get screwed?
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
𝘛𝘩𝘢𝘯𝘬𝘴 𝘧𝘰𝘳 𝘸𝘢𝘵𝘤𝘩𝘪𝘯𝘨.
Chandler, thank you for sharing this with us but it is very confusing. I did not understand a word you say. I did not clearly understand how to multiply this amount of 10 000 dollars?
Hello, quick question about what seems a “good deal” for me but just wanted your input on it.
can u use the FHA loan to fix and flip?
What do you mean 6 month reserve ? Like saved up extra 6 months of the payments for that loan?
How does the bank know if you live in the rental place for a year where you got the FHA loan for? Like how can they tell
What happens if ur invested in a reit..and they sell off the property u invested into
Awesome video chandler! This question comes up a lot on the forums (Bigger Pockets for example). I'm glad you pointed out that you need cash reserves as well. A lot of people forget that part ;)
𝘍𝘰𝘳 𝘮𝘰𝘳𝘦 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
This is awesome, thanks!
Another good video.
I have never attempted to use an FHA but a VA is somewhat similar and I have run into a significant issue.
Back story: I got out of the Army a couple of years ago and became a General Contractor in Washington State outside of my last duty station. I had the intention of flipping but the market was not conducive for me given my lack of established network.
It is now two years later and we have left the insanity that is Washington for the promise of Idaho and looked to purchase a multifamily with said VA loan. The advantages are numerous but the difficulty is that Canyon and Ada counties are so competitive that the potential difficulties of a VA loan make my offers less appealing. We offered $40k over asking on a place and lost out to an at asking cash offer. I know that cash is King but it appears that I don't stand a chance here either.
We are renting now and waiting out the twelve month "establishment period" for self employed individuals so that my income can be counted but I hate throwing away money on rent every month.
Keep the videos coming, love them.
Justin
Love these videos!
Can rent a home you bought with SDA FHA house loan?
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
𝘛𝘩𝘢𝘯𝘬𝘴 𝘧𝘰𝘳 𝘸𝘢𝘵𝘤𝘩𝘪𝘯𝘨.
Great video! Actually doing #1. I've been subscribing for a year now.
Nice! Thanks!
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
𝘛𝘩𝘢𝘯𝘬𝘴 𝘧𝘰𝘳 𝘸𝘢𝘵𝘤𝘩𝘪𝘯𝘨.
I’m almost done reading that poor dad ,rich dad book 📖 in the back
he can help you make millions off btc
+1 22 4 7 0 7 4 7 5 9
I agree with you on the partnerships. I like to control and own my real estate with no ties to anyone else, but partnerships are a great option.
Love it!
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
Lots of good tips here for getting in on the market! And I have that same Rode shotgun mic! 🎤
What can I do with 10 bucks and 10,000 dollars of credit card debt?
I'll send you the 10k and you make a video of how you made it work for profit 😊
𝘍𝘰𝘳 𝘮𝘰𝘳𝘦 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
Stfu!!
But only limited home qualify for FHA.
Notice the rich dad book behind
What loan options for 2nd home loan or or a house you are not going to live in for a year? are there any options other than 20% down...
yes - but it only works for me if I purchase a property that needs considerable rehab - so that's what I do. I have a whole strategy I use - and there are several good channels here on youtube where you can learn more about it
What are the other good channels to learn more about it?
Hey, does taxes matter when buying a property in an expensive states? E.g new york
In Turkey you can get a mortgage on 2 friend partners and title on both names. you just have to make a written agreement to sell it in like 10 years and split the profits. just like partners in a store but much secure investment like a real estate.
Does it makes sense to get a real state license before investing in real state, or would u guys just go to and buy through an agent ?
I don't have a license - but am an investor. I decided I didn't need it because I have absolutely no desire to help other people buy / sell houses. just my thought...
My thoughts as well, I wouldn't think it would be of much use for just buying for yourself
It doest matter!!! To be honest I wish I had my license because you direct access to the MLS, when pulling comps its important also I'm in the process of buying a rental and Realtors are horrible!!!
Remember 90% of realtors arent investors so they dont understand how investing works. Also ove wholesaled real estate and this doesn't also stop you .
Having a license only provides value to yourself
It really does work... He is spot on!
Thanks! Love it!
He who loses money, loses much; He who loses a friend, loses much more; He who loses faith, loses all. --Eleanor Roosevelt/
This makes sense and is all well and dandy, but my local market you'd be lucky to get a 350sqft studio for $100k. I need out of state investments unfortunately.
I have 10,000 but my credit is at 600 can I still do Restate🤔thanks
he can help you make millions off btc
+1 22 4 7 0 7 4 7 5 9
Chandler !! Love your content buddy!! I am in the pest control business also.. but only in the service industry not sales. Is there a limit on how many FHA loans you can acquire? In your portfolio?
Let's Talk Money false
I can't even find a fourpplex at all
Could a partnership get a fha loan if one of the people live in it
Going through this now. Most lenders are saying the only ones that qualify for FHA are the ones that will live in the property. So, for example in my case: we have 3 guys going in on it. 2 of us will live there, one will not. The one who will not live there can't be put on the FHA loan, because he's considered an investor. He also can't help with the down payment per fha rules( you can only receive "gifts" from family).
Workaround: get the FHA loan with those that will live there. After closing, add the outside person to the deed. Have the outside person cover PITI and reno until they've paid back their percentage(that would have otherwise gone to initial down payment). Then, after a year refinance into a conventional so everyone can be put on the loan.
Aaaand I liked AAALLLL of this information.
do u have to live in the house to get an fha loan
Yes
So you get an fha now you owe almost 2 grand a month ?? If not more.. where’s the money in this?
I just sold my house and pocketed 150k and I have NO idea where to put it. 😳 trying to educate myself to buy as many properties possible with it.
1 year later what happened
@@orciiiorciii9396fiancé and I bought a triplex, and we invested in starting a business and then paid off a small credit card debt of 10k.
@@StephBClife sounds like you’ve done well. Good job and good luck in your future
Nobody talks about the 2yrs work history in the same job field that the lender requires in order for you to get the loan. And the FHA title seasoning period means nothing because you can just move out cause “I didn’t like the home” . If they try to foreclose it’s going to take at least a year. You’d sell the house by then
True! credit score needs to be around 640. I was 4 points off and paid my credit cards down. Since, I lost my job and started freelance work. I didn’t know I had to be in the same field. I was told that I need to come back after proof of 6 months of full time work in social service. Then maybe I can get the FHA loan of $180,000. That amount gets you a house in a poor community in chicago that I would hate to live in with my kids!
@@Greenpeppers307 if the area is gentrifying that’s a good area then. Location is second most important after purchase price in my opinion. Cause you want the power of appreciation to work for you.
@@Thejasonrogers great point! Thank you!!
Would getting a real estate license be beneficial or should I just leverage other realtors?
It has its pros but I don’t have mine. If you’re just wanting to invest in a couple properties here I personally don’t think it’s worth it
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
Chandler with that 25% down 10% cash on cash return. Do you subtract all of the expenses from the cash on cash return such as taxes and insurance?
3 view gang!
Good. Thank you
Thanks!
How do you find an investor to partner with you?
This is a tricky question hard to answer in a message
This makes my day a little better after just getting stung by a wasp
Because careful out there! Wasp flu is on the rise :(
Sorry to hear that. Hope you feel better soon.
Mozart Gates thanks
Adam Smith thanks
Hey Chandler can I use an FHA loan on my current, primary house, which I have lived in for 40 years? What's your advice to house hack my own primary residence? Best rate? Best deal? How big a loan could I get on my house and can I use that same loan to fix up my house and put what's left on another purchase? Thank you!
Do you own it in cash?
@@ChandlerDavidSmith I inherited it from mom 10 years ago. It's my house. I currently have an 8000.00 HELOC to pay off. Nothing major.
FHA lones 3.5% 😳
(6 months reserves, 25% 10% on 10% cash return minimum MIP)
Conventional loan
5% down
Go
(PMI)
Partnership
50% ownership, take care of management, property maintenance, 🤯that’s a come up 😂
RIET
Thank you for the info! Appreciate the insiders.
Same here, Chandler. I have trust issues. I need to be in control of my money, and I also like doing things on my own without a partner. A personal friend with money mentioned he wanted to invest hands off. He doesn't know it yet, but I've already turned him down. :)
haha nice
What about changes homes
His teeth is brighter then my future!
😆😆😆😆😆
I maybe at work, but this information is as important for someone that is looking to buy in the following months!
Really great video you made... I am glad to watch this and learned how we can invest in real estate with a little money...
Thanks
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
𝘛𝘩𝘢𝘯𝘬𝘴 𝘧𝘰𝘳 𝘸𝘢𝘵𝘤𝘩𝘪𝘯𝘨.
For me in the partners i prefers use My mind as the 50/50 and the partners the money
I like the idea of running the numbers based on 25% to make sure the deal is great. Stealing that idea!
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
I know a better investment that is less stressful than this
can you make a video on best markets
Sure! I’ll put it on the list. Thanks!
@@ChandlerDavidSmith thank you so much
Can I just invest my 10k in the Chadlord stock instead?
A hard no for me, Crypto fiat market goes much harder with more ROI, been with this private company for 3 years now and honestly I just quit my job cause it doesn’t earn me squat compared to my profits with them
Hey Chandler. But if I put in 50% of the cash for the down payment I still have to manage the property and/or pay a property manager? How does the deal change for me if I have to put down 50% of the cash down payment?
What do you mean?
@@ChandlerDavidSmith Could you recap xactly what I'm bringing to the table? I pay 50% of that cash dwn payment & the other person pays 50% of the dwn payment. Right? But what xactly am I responsible for property wise? I'm guessing I'm paying PITI?
A put 3% down with a conventional loan😁😁
Sweet!!
I tried they basically laughed at me lol oh well only 2k more I'm not backing out of a deal for that lol
@Pooge Onmyway I did it through redfin. I have like a 780 credit score so he said he was able to give that loan.
@Pooge Onmyway it's called a conventional 97 some places will some won't. The extra 2% doesn't really change anything unless your in an expensive market
How about $10k in southern California?
then do 1-3 hours away from there ^^
Or in the Bay area, that amount gets you nothing! Literally nothing!
A nice dog house 😂
Yeah if you got a 850 credit score
Too bad you can only have one FHA loan at a time and it has to be your primary residence. Also I prefer to save up the 20 and 25 percent. Mortgage insurance runs about 160 to 200 bucks a month where I live. No thanks, I’m not letting that cut into my cash flow
For the partnership idea, you might as well just wholesale the property 🙄
𝘍𝘰𝘳 𝘨𝘶𝘪𝘥𝘢𝘯𝘤𝘦 𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘪𝘯𝘨 𝘮𝘢𝘹𝘪𝘮𝘶𝘮 𝘱𝘳𝘰𝘧𝘪𝘵 𝘰𝘯 𝘺𝘰𝘶𝘳 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵, 𝘸𝘩𝘢𝘵𝘴𝘢𝘱𝘱+177𝘖67936𝘖7 𝘮𝘺 𝘰𝘧𝘧𝘪𝘤𝘦.
𝘛𝘩𝘢𝘯𝘬𝘴 𝘧𝘰𝘳 𝘸𝘢𝘵𝘤𝘩𝘪𝘯𝘨.
I am a traveling nurse and want to start investing. What kind of loan do you think would benefit me more? Can I get an FHA loan even though I’m required to travel for work?
Chandler
First
What's going on
I want to change my life
Looking forward to the video when you announce that you've surpassed 99 units! 😂
It’s coming 🤫
Take a deep breath and hold for 60 seconds
Hey Chandler! You have a discoed man? I’d love to dicuss real estate with like minded people of your community 😄
Teach me sales Chandler
I stubbed my “you know what” on my desk and now my “you know what” hurts
Pinky finger?🤷♂️
Except commiefornia