I’ve never commented on a RUclips video before today. Just wanted to ask if you guys could please upload an updated video with current interest rates? The title of the video is misleading when you’re giving a guide to buy a property by the end of 2023 but using a 4% interest rate. They are closer to 8% right now. I understand you guys gotta keep the views coming in but please, if you’re really about helping people it would help to show how you would use a conventional loan in today’s financial climate.
I like your advice on picking what kind of real estate to invest in and where to invest. It's like choosing what type of food you want to eat and where you want to eat it. It's important to start with something you like and understand. Thanks for making things simple and clear.
I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
@@TheresaAnderson-kf5xw My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
I am currently under the mentorship of *Mary Onita Wier* whose expertise guides my portfolio. I initially discovered her through a feature on Bloomberg and subsequently conducted an online search using her name. Thankfully, I was able to locate her website and establish contact. You have the option to verify this information independently if you wish.
I appreciate the information. I did my own research, and your advisor seems to possess a great deal of expertise and knowledge. I've reached out to her via email and scheduled a phone call. I'm impressed by her expertise, and I'm looking forward to our discussion.
For all of the " the interest rate isn' t accurate" folks, in September when this video was posted here are the rates according to Forbes: 30-year fixed 5.55% 5.56% 15-year fixed 4.73% 4.75% 30-year jumbo 5.46% 5.47% 5/1 ARM 3.90% 4.86% So, when the video was posted, the rate used was pretty accurate.
What year was this filmed? At 34:50 interest rates of 4% for an investment property are used. Was that a typo? Or do you have access to a large line of credit at those favorable rates?
They’re just recycling the same video over and over again for views with different thumbnails. The video is titled “buy your first rental property by the end of 2023” but is using a 4% interest rate. Someone please tell me where I can find that lol. This is click bait.
Im seeing the motivation here vs the numbers. Numbers are the important part. Like at 45min if Luxury market dries up I’ll just switch. Ok great not that means a vacant Luxury rental and lowering sell price to exit. Aka losing years of gains.
You need to train your legs one more day at least. Change your split to M-legs and shoulders, T-chest and arms, W-back, Th-rest or train run, F-legs, Sat-chest and back, sun-rest
STILL WAITIN ON SOMEONE TO DO THIS VIDEO BUT FOR A VA LOAN DEAL. 0% DOWN. HOW MUCH WILL THAT CHANGE THE OUTCOME OF MY CASHFLOW AND/OR EQUITY? PLZ HELP CREATE A VIDEO.
I found 5 acres that I can subdivide in the city off market in a growing area for 120k has lights and water on property. what loan can I get to buy this I tried to get them to do owner financing with 20k down but they didn’t want too. I have a rental in that area also and there’s a lot of new home builders in the area I was thinking tiny homes and 3 acres
I feel kinda bad for Biggerpockets. The entire business model they used to pitch (buying homes to remodel, rent and refinance) doesn't work like it did when the podcast was at it's zenith, home prices were lower, and rates were lower. But BP's private equity owners want to see continued growth at all costs, so now the BP hosts are reduced to making soyface thumbnails to beg for clicks on videos that don't offer anything close to what they used to. Sad. I wonder what comes next
I think they’re doing alright. Massive portfolios, they actually shouldn’t bother making these videos. Thank fully they do and it helped me build my portfolio.
While I agree on the faces 😂😂, I get lots of inspiration and info from the videos and I love it. Also this is the RE market. Would I still love it if I could buy a house for $26,000 like my mom and dad did? Yeah but it's not 1974 anymore. 😅 Things go up! But be ready when they come down!
Real estate Rookie is still bringing the heat at least .. I just feel like haven’t I watched this video like 5 times already ? But it was uploaded today ?
@@idkmybffjill96822018 had very low interest rates and housing costs. It's almost not doable at all anymore. In my area, Greenville SC, home costs have doubled in most cases and tripled in others. I just looked at a foreclosure for 160K that was an absolute dumpster fire. The history on this house was that it last sold in 2015 for 29K. And after looking at it, it's obvious that there have been no improvements at all since 2015 when they last bought it. That's more than triple, that's more than 5 times the cost that it sold for in 2015. After I made a funny couple of texts to the realtor about what a dumpster fire it was, they took it off the market and then re-listed it three weeks later for 153K. They're still completely out of touch with reality on what these houses are actually worth. And this is typical for the area, where all housing has just gone through the roof. I'm not kidding when I say... DUMPSTER FIRE!!!
In September when this video was posted here are the rates according to Forbes: 30-year fixed 5.55% 5.56% 15-year fixed 4.73% 4.75% 30-year jumbo 5.46% 5.47% 5/1 ARM 3.90% 4.86%
I don't think it's a good idea to buy your first rental in 2024. Almost nothing cash flows now and you can get 5% in a savings account without any work. Rent is dropping on a national scale too. Unless you are a seasoned investor and know where to buy and have a very specific buy box, now is not a good time.
Cynicism is one of the biggest killers. How could everything happening be a benefit ? An opportunity ? To heckle is easier than to create new solutions to new problems. Why wouldn’t you buy when everything is selling ? No patience? Fear of loss? It’s what u make it to be. Just stay informed and educated just like with anything. If you’re an unseasoned investor and don’t know where to go, find someone who is seasoned and does know where to go. Smart people work with even smarter people.
@@ahmircole Arrogance is THE biggest killer. WTH do you think you are that you are qualified to lecture others? How much have you made in RE? So tired of these smugs, thinking only they can see the silver lining. If someone is shooting at you, instead of doing the obvious, you might just think " hey, I get to see a flying bulleting entering my brain!"
*sigh* yet another education and membership cattle call disguised as useful information. I’m not mad at self promoting just disappointed as it’s hard to find the real stuff that isn’t locked behind a paywall
I hate how you analyze properties with the calculator from bigger pockets. It discriminates against people outside the US. How are we supposed to analyze properties?
I bought my first rental property (a duplex) in 2021 and I'm so glad I took that leap of faith! I'm working on investing in an apartment building now.
I am sitting in my first rental house as I watch this - I just need to go buy a new primary residence and get this place rent ready.
I am also sitting in my home 🏡…
I am sitting in my home that one day may be a rental.
@@abrand617 Do you trade the Stock market?
I am also sitting in mine. Lol
Same here. Waiting to do taxes, then hunting for a new house to rent in future.
Finally bought my first rental. Needs work gonna document it on RUclips! Been listening for years!!
I’ve never commented on a RUclips video before today. Just wanted to ask if you guys could please upload an updated video with current interest rates? The title of the video is misleading when you’re giving a guide to buy a property by the end of 2023 but using a 4% interest rate. They are closer to 8% right now. I understand you guys gotta keep the views coming in but please, if you’re really about helping people it would help to show how you would use a conventional loan in today’s financial climate.
I like your advice on picking what kind of real estate to invest in and where to invest. It's like choosing what type of food you want to eat and where you want to eat it. It's important to start with something you like and understand.
Thanks for making things simple and clear.
In Kentucky, I would stick to Louisville, Lexington and Covington, other stuff is too rural but can cash flow if it’s near a hub.
I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.
Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.
The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.
@@TheresaAnderson-kf5xw My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.
I am currently under the mentorship of *Mary Onita Wier* whose expertise guides my portfolio. I initially discovered her through a feature on Bloomberg and subsequently conducted an online search using her name. Thankfully, I was able to locate her website and establish contact. You have the option to verify this information independently if you wish.
I appreciate the information. I did my own research, and your advisor seems to possess a great deal of expertise and knowledge. I've reached out to her via email and scheduled a phone call. I'm impressed by her expertise, and I'm looking forward to our discussion.
For all of the " the interest rate isn' t accurate" folks, in September when this video was posted here are the rates according to Forbes:
30-year fixed 5.55% 5.56%
15-year fixed 4.73% 4.75%
30-year jumbo 5.46% 5.47%
5/1 ARM 3.90% 4.86%
So, when the video was posted, the rate used was pretty accurate.
Super love this episode David!! Thank you
What about for people that don’t have the down payment needed to buy a rental property?
What year was this filmed? At 34:50 interest rates of 4% for an investment property are used. Was that a typo? Or do you have access to a large line of credit at those favorable rates?
They’re just recycling the same video over and over again for views with different thumbnails. The video is titled “buy your first rental property by the end of 2023” but is using a 4% interest rate. Someone please tell me where I can find that lol. This is click bait.
Thank you!! I love this. Straight to the point and great information provided.
Do the podcast guys make more money on rent or making RUclips videos?
🤔good question.
RUclips/social media or else they wouldn’t be doing it
@@emiluguevara1441it’s additional money why would they not ? I don’t think it would be smart to see a product selling and not sell it.
Its pretty obvious David is always trying to make money off viewers and listeners.
Ran your calculations on a deal I like and unfortunately I’ll be in the negative for 10 years
I opened a +5% savings account..took 90 seconds. Good luck with the whole landlording thing.
I feel like I already watched this video few months ago, but the date in it is 14h ago.... am I having a deja vu?🤔
yeah, it's an old video. Thankfully I notice it right away and did not watch it again.
I was thinking the same thing.
😂
Where does he get 4% interest from? It is currently hovering 8%
This video was recorded in February
The biggest and the baddest! Talk that talk!
Hi David ...is there two pro to start the program?
Please ckarify
I was listening until the part he said you send out 300 letters and get 40 leads I’ve sent out to close to 2000 and gotten 3 leads no deal yet.
Im seeing the motivation here vs the numbers. Numbers are the important part. Like at 45min if Luxury market dries up I’ll just switch. Ok great not that means a vacant Luxury rental and lowering sell price to exit. Aka losing years of gains.
37:02 can someone explain this?
Cash flow is 604, expenses 1915. How can cash on cash return be 13.68?
Isn’t 604/1915 = 31.54%
What am I missing?
Total cash needed to make the deal was 53k. Yearly, 604 a month is 7.2k. That's your 13.7% roi.
@@guy_with_no_name Thank you.
Interest rate is at 4% now? Did you mean 8%?
They are probably referring to the federal fund rate. When it was 0% mortgages were 3-4%. So at 4% mortgages would be 7-8%.
I own my property I pay cash for it. Do you think I should sell or rent it out?
Hi I’m almost close to get the the 20% of down payment but I’m scare
Love the tips!
Great video very honest information thank you
Yes, I feel fired up!
I want to retire on the WATER 💦!👍😍
Amazing video ❤
This is great!
That's awesome 😻 for Rosey👍!
Close the boarder 😢
You need to train your legs one more day at least. Change your split to M-legs and shoulders, T-chest and arms, W-back, Th-rest or train run, F-legs, Sat-chest and back, sun-rest
Why isn't Rob hosting anymore?
STILL WAITIN ON SOMEONE TO DO THIS VIDEO BUT FOR A VA LOAN DEAL. 0% DOWN. HOW MUCH WILL THAT CHANGE THE OUTCOME OF MY CASHFLOW AND/OR EQUITY? PLZ HELP CREATE A VIDEO.
Bruh u can do that urself
@@simonbuhl6515 I’m clearly asking for it because idk
I found 5 acres that I can subdivide in the city off market in a growing area for 120k has lights and water on property. what loan can I get to buy this I tried to get them to do owner financing with 20k down but they didn’t want too. I have a rental in that area also and there’s a lot of new home builders in the area I was thinking tiny homes and 3 acres
I feel kinda bad for Biggerpockets. The entire business model they used to pitch (buying homes to remodel, rent and refinance) doesn't work like it did when the podcast was at it's zenith, home prices were lower, and rates were lower. But BP's private equity owners want to see continued growth at all costs, so now the BP hosts are reduced to making soyface thumbnails to beg for clicks on videos that don't offer anything close to what they used to. Sad. I wonder what comes next
I think they’re doing alright. Massive portfolios, they actually shouldn’t bother making these videos. Thank fully they do and it helped me build my portfolio.
While I agree on the faces 😂😂, I get lots of inspiration and info from the videos and I love it. Also this is the RE market. Would I still love it if I could buy a house for $26,000 like my mom and dad did? Yeah but it's not 1974 anymore. 😅 Things go up! But be ready when they come down!
Real estate Rookie is still bringing the heat at least .. I just feel like haven’t I watched this video like 5 times already ? But it was uploaded today ?
Bought my first 2/2 condo for $31k in 2018. Still doable
@@idkmybffjill96822018 had very low interest rates and housing costs. It's almost not doable at all anymore. In my area, Greenville SC, home costs have doubled in most cases and tripled in others. I just looked at a foreclosure for 160K that was an absolute dumpster fire. The history on this house was that it last sold in 2015 for 29K. And after looking at it, it's obvious that there have been no improvements at all since 2015 when they last bought it. That's more than triple, that's more than 5 times the cost that it sold for in 2015. After I made a funny couple of texts to the realtor about what a dumpster fire it was, they took it off the market and then re-listed it three weeks later for 153K. They're still completely out of touch with reality on what these houses are actually worth. And this is typical for the area, where all housing has just gone through the roof. I'm not kidding when I say... DUMPSTER FIRE!!!
BP pro membership…..yikes.
With 150 in cash at 62 and minimum retirement income do I buy a 150k property or use 50k on a down payment instead?
Down payment -- spread your capital to Ty down more clashflowing properties
But be CAREFUL since you said your at retirement age and have limited income….. this isn’t quick money.
Put 50k down and choose a cheaper home with rental capability. Like being able to rent out the basement or part of it conveniently
The houses used in the presentation looked to good to be rentals. 😅
So, essentially.. you are saying we reap what we sow 😅😊
4% mortgage interest sounds as a scam
In September when this video was posted here are the rates according to Forbes:
30-year fixed 5.55% 5.56%
15-year fixed 4.73% 4.75%
30-year jumbo 5.46% 5.47%
5/1 ARM 3.90% 4.86%
4% interest Bruh not real accurate video
What about higher end doesn't drop as much bs.
I don't think it's a good idea to buy your first rental in 2024. Almost nothing cash flows now and you can get 5% in a savings account without any work. Rent is dropping on a national scale too.
Unless you are a seasoned investor and know where to buy and have a very specific buy box, now is not a good time.
Words of wisdom. Good looking out
Cynicism is one of the biggest killers. How could everything happening be a benefit ? An opportunity ? To heckle is easier than to create new solutions to new problems. Why wouldn’t you buy when everything is selling ? No patience? Fear of loss? It’s what u make it to be. Just stay informed and educated just like with anything. If you’re an unseasoned investor and don’t know where to go, find someone who is seasoned and does know where to go. Smart people work with even smarter people.
@@ahmircole Arrogance is THE biggest killer. WTH do you think you are that you are qualified to lecture others? How much have you made in RE?
So tired of these smugs, thinking only they can see the silver lining.
If someone is shooting at you, instead of doing the obvious, you might just think " hey, I get to see a flying bulleting entering my brain!"
*sigh* yet another education and membership cattle call disguised as useful information. I’m not mad at self promoting just disappointed as it’s hard to find the real stuff that isn’t locked behind a paywall
What do you mean, how is this useless information? Could you explain a bit further?
You’re awesome, but please no more “O” face thumbnails
First
I hate how you analyze properties with the calculator from bigger pockets. It discriminates against people outside the US. How are we supposed to analyze properties?
Move to the US lol
Hate? Ugh the Internet has some like it and there's also paper and pencil...
@@mmartinez4117 please link to calculators just as good that works for properties outside of US
sounds like a scam
What happens if you can’t get a loan ?
Ok so I have a house that is 100% paid for needs a lot of work but can’t get a load how can I get the money to fit this project up ?
Home Depot Project Loan worked for us. hth.
If you can't cash out refi, HELOC.
🔥🔥🔥🔥