I really love his laid-back, modest approach. Nothing wrong with being big, but I love that he knows how he wants his love to go (god-willing). A comfortable life 😊😊😊:)
When I was calculating to see if my rental cash flow was enough to leave my W2, I also looked at the ability to focus my time more on growing the rental portfolio. So my cash flow wasn't twice as much as my W2 take-home like Dion suggested, but I knew that the time that I was getting back would allow me to 10x what I was making from my W2. For me, the time was more valuable than waiting to save more money from my W2. Thanks
Dion is by far my favorite! Very simple strategy with low risk! I have no desire to own over a hundred units... I just want really good cash flow from the properties I own and purchase!
How risky is it to get a duplex as a first property instead of a single family home? Would renting the rooms out individually still work for a multi family property or does this work better for single family properties? I’ve found two duplexes in my area. Both are under 400k and have 6 beds 4 baths. I make 70k, have 20k in HYSA, 20k in retirement accounts, no consumer debt, and 700+ credit score. I’m single so I’m flexible with where I live and who I live with. Currently I live at home so no rush, but in the long term definitely want property.
Great question! I would say having a long term outlook on your investment will be your best bet. With rates being higher than the general populations normality of around 5%, you will need to reset your expectations of immediate return if you find a deal that has a price point not reflecting a cashflowing property. There are certainly deals out there that cashflow today with rates at 7%. Though you may not cashflow from day 1, analyzing your deals over a 5+ year horizon with opportunities to leverage your debt to 95% is a recipe for success in my opinion with rates where they are. You can reduce your expenses by house hacking at 5% down, have the ability to heloc/refinance in the future, see your property values increase, and then reinvest the capital creating infinite returns with your initial deposit growing exponentially. Don't let higher rates scare you from getting started!
Thanks Dion! I only make 200$ after mortgage PITI, HOA, hvac and other expenses (winterize, etc). I even cheaped out by not having termite insurance. How do you make 16000$ from 16 units? Blows my mind
A few reasons. 1) I recycle cash flow not capital. No heloc. No cash out refi. Never sold to 1031. 2) the binder strategy gets my tenants to ask me to raise the rents. 3) time. The first duplex has had ten years of rent ent appreciation. The next had 8!etc. 4) I call each year and find the best insurance quote and keep my deductible as high as possible. 5) I invest in a HCOL area so each unit cash flows more (but takes a larger down payment)
Great content! So inspirational and educational. My takeaway: Househacking 💯, Get property insurance quotes every year with the highest deductible. By following these tips from Dion, I have saved so much money. His binder strategy helped me increase by cash flow💸 tremendously. I can't thank Dion enough for taking the time to share his knowledge.
His passion for helping others get started and to retire early is huge. He answered all my questions on his livestreams on Tuesdays. Look forward to being in the graduate class of 2033
Dion is different. He doesn’t want to be huge. Biggest bang for the buck.
Thank you. Exactly 😀
I really love his laid-back, modest approach. Nothing wrong with being big, but I love that he knows how he wants his love to go (god-willing). A comfortable life 😊😊😊:)
@@lz6364 👍
@@lz6364 Dion has way more than I’ll ever have and I’m still comfortable with what I have. It’s all about perspective.
Dion is the man! I watch everything he drops!
Thank you so much 😀
I’m 45 in debt and this video is very inspiring! Damn youtube algorithm is good! 😂 Thank you the inspiration!
Thank you.
You’ve got this.
Thank you for joining, Dion! It is always a real pleasure to chat with you my friend!!😄
Can’t wait to see you host more episodes. 😀
When I was calculating to see if my rental cash flow was enough to leave my W2, I also looked at the ability to focus my time more on growing the rental portfolio. So my cash flow wasn't twice as much as my W2 take-home like Dion suggested, but I knew that the time that I was getting back would allow me to 10x what I was making from my W2. For me, the time was more valuable than waiting to save more money from my W2. Thanks
That’s an awesome perspective
Thanks Dion!
Thank you. 😀
Dion should have a mentorship program, oh wait!, he does...
He's a great teacher!
Thank you.
Love your Van confessions videos. 😀
@@DionTalkFinancialFreedom Thank you
That's my reflection time.
Dion is by far my favorite! Very simple strategy with low risk! I have no desire to own over a hundred units... I just want really good cash flow from the properties I own and purchase!
Thank you so much 😀
How come he was living in a nice house with basketball court tennis court lake boat making 17 an hour am I dumb or something?
Middle of absolutely no where lol.
Yelm wa. Purchased for 98k in 2000. Long before deciding to try owning rentals.
And purchased when I made more.
The $17/hour was after getting paid off from being a cop.
How risky is it to get a duplex as a first property instead of a single family home?
Would renting the rooms out individually still work for a multi family property or does this work better for single family properties?
I’ve found two duplexes in my area. Both are under 400k and have 6 beds 4 baths.
I make 70k, have 20k in HYSA, 20k in retirement accounts, no consumer debt, and 700+ credit score. I’m single so I’m flexible with where I live and who I live with. Currently I live at home so no rush, but in the long term definitely want property.
What do you tell someone who says “putting 5% down payment with 7% interest rate you’ll never cashflow”
Great question! I would say having a long term outlook on your investment will be your best bet. With rates being higher than the general populations normality of around 5%, you will need to reset your expectations of immediate return if you find a deal that has a price point not reflecting a cashflowing property. There are certainly deals out there that cashflow today with rates at 7%.
Though you may not cashflow from day 1, analyzing your deals over a 5+ year horizon with opportunities to leverage your debt to 95% is a recipe for success in my opinion with rates where they are. You can reduce your expenses by house hacking at 5% down, have the ability to heloc/refinance in the future, see your property values increase, and then reinvest the capital creating infinite returns with your initial deposit growing exponentially. Don't let higher rates scare you from getting started!
This was GREAT. No BS and very relatable. Thanks to this man!
Thank you so much 😀
Great video.
Thank you. 😀
Always learn so much from Dion
Thank you so much 😀
Dion is a great investor, I enjoy his videos and the live streams
Thank you. 😀
Same same
The lazy investor 🔥
Exactly 😀
@@DionTalkFinancialFreedom 16k a month, my inspiration!
Dion rocks! Love seeing how someone coming from his position can become so successful 🎉
Thank you so much 😀
So pleasing and easy to understand ❤❤❤
Thank you so much 😀
Dion, can you please mentor me?
Thanks Dion! I only make 200$ after mortgage PITI, HOA, hvac and other expenses (winterize, etc).
I even cheaped out by not having termite insurance. How do you make 16000$ from 16 units? Blows my mind
A few reasons.
1) I recycle cash flow not capital. No heloc. No cash out refi. Never sold to 1031.
2) the binder strategy gets my tenants to ask me to raise the rents.
3) time. The first duplex has had ten years of rent ent appreciation. The next had 8!etc.
4) I call each year and find the best insurance quote and keep my deductible as high as possible.
5) I invest in a HCOL area so each unit cash flows more (but takes a larger down payment)
Great content! So inspirational and educational. My takeaway: Househacking 💯,
Get property insurance quotes every year with the highest deductible. By following these tips from Dion, I have saved so much money. His binder strategy helped me increase by cash flow💸 tremendously. I can't thank Dion enough for taking the time to share his knowledge.
Nice job Dion!
Thank you. 😀
His passion for helping others get started and to retire early is huge.
He answered all my questions on his livestreams on Tuesdays.
Look forward to being in the graduate class of 2033
Thank you so much 😀
Inspiring video!
Thank you. 😀
7:05
Miss opportunity to ask about the infamous DION'S BINDER STRATEGY™
still a good vid tho
True. Maybe a follow up video. 😀