Totally right! I didn’t forget, I was just making it simpler. I wanted this video to be for the complete noobie to spark the idea of creating passive income. I also didn’t talk much about future maintenance/repairs or the house value rising with inflation. Lots of factors go into how much money you make on a house, but IMO it’s generally a good idea to own rental properties. Let your money work for you!
@@OffTheRanch You also didn't mention that if you put $223k in an investment account that earns 7% annually... in 60 years it will be worth $13 million dollars...
@@JFRED_254 Most people don't have 223K to hole away in an investment account for 60 years. However a lot more people can scrape up a 26K down payment and handle a mortgage
@@JFRED_254 2.5% is a more realistic, and safer, return rate on that kind of initial investment. 7% is possible, but would come with a higher risk of actually losing part or all of your investment. But yeah, long term investment can make you bank when done right and if you have the patience for it.
It's absolutely crazy to think how far you've come since you started posting regularly on this channel. From posting some cool custom shotgun shell videos to owning a now large business, a Vet clinic, a very nice home, two rental properties, an arsenal of firearms, a Ford Raptor, Five Ton Military truck, a sports car, a burnout car, a Bronco, a mansion renovation project, and 3 beautiful and smart children and a godess of a wife. You weren't given any of this - your hard work earned it. That's some inspirational shit Matt. And by the way, I haven't forgotten about your dreams to build a true Demolition Ranch. I hope you can make that happen one day.
Hey Matt , You’re running multiple business and as I can see you’ve been very successful running them So if it’s possible to make content talking about starting a business , how to manage it ECT ... That would be awesome because you’re honest and straight forward. . . . If anyone likes the idea please like so he can see my comment.
I never really had a dad figure in my life, watching demolition and offtheranch really fill that void. I really just want to say thank you for sharing your knowledge. You have been such a staple in my life. You set such a perfect example on how to be a proper and honest man. Thank you Matt.
Yes! It was in the outro at one point I remember. I also vaguely remember them building that wooden thing that's mounted to the wall If I remember correctly.
My mothers best friend and her husband own a couple of places that they rent and they are both great people. They have done more for my mother and I than almost anyone. I am sure that they'd be great owners and awesome to rent from.
This is why Matt and Mere are such great role models and they're an inspiration to me. They're good people and also educate the viewers by showing their investments. I love it
Wife and I just bought our first house together after being married less than a year! (Didn't expect to be homeowners that fast...!) I'm 23 and we purchased our house for ~$140,XXX. I'm thinking that if we stay in the area that I'll do the same as you here. There's also a need for less expensive ($1800 or less) rental property that is in good condition in my area, so we'll likely go that route! Awesome to see what you're doing Matt! Keep being an inspiration!
Honestly when I first clicked on this video I thought he was talking about that crack house he bought and not the house he lived in when he first started demo ranch
Great if you have fantastic tenants. Lots of my friends rent out and oh the horror stories. One family had been renting for about 5 years... fell on hard times and trashed the house before moving back to their parents in another state. Took fixtures, AC, Heating and Water Softener too. Big moving truck in the middle of the night. They are still fighting the courts for the vandalism and theft. Some are lucky like you... others are not so lucky. Its a big risk. Another friend had a house vacant for a month... in a month, kids broke in and vandalized the house. Trail cam caught the kids and they too are still going back and forth in court because the kids were minors.
Yea seem like your friend trying to rent a house in a neighborhood that isn't a safe investment, that's why you should never rent out on poverty area middle class rental is your safest bet.
Your calculations aren't taking into account unexpected expenses. Like replacing the water heater. Dry rot in the floor boards. Needing to re-roof. And even just general maintenance. That is why people think the lump sum up front is better. It takes the variables out of it.
Not to mention the fact that he thinks he will consistently be getting $1600 for 60 years. As if we won’t go into two or three recessions during that time, or house costs inflate, real estate fluctuates, etc.
I’m living proof that RUclips is great for learning stuff. I had to pass an engineer test for the USCG, and there were steam questions, I had never been in a vessel/boat with any form of steam generation. Thanks to youtube, I passed the test. And don’t worry I still haven’t been on a vessel/boat that has steam.
Troy Stutsman god bless you dude. I had a question on my practice exam, that kinda blew my mind. I can’t remember the exact phrase but it had to do with a puffer gland losing pressure.... At first I thought... puffer gland... is this something you use to satisfy those late night urges? But it turned out to be a pressurized shaft seal. Anyway I learned so much from watching videos, and google helped a lot too. I’m an army veteran, I worked on helicopters, as a crew chief and door gunner, in the 42nd Ranger battalion. Thanks for your service sir!
That's one thing I've been trying to do, teach my kiddos all the little handyman stuff I had to learn the hard way. Fixing car stuff, tinkering, what little carpentry I know, all that jazz.
Ya but he seems to be doing the maintenance himself (much cheaper) , he had a tenant for four years zero vacancy, there are tax benefits for having an investment property, and houses go up in value 3-5% per year... So a few years from now he can probably raise the rent up a bit higher ;)
The housing market is about to crash big time. The world economy in general is about to crash big time. Next year that house might be worth $50,000 and he might only be able to get $500 a month rent. You can't count on things staying the same as they've been in the future. In fact the chances of anyone being on this earth in 50 years is zero according to the book of Revelation.
25 years of landlording never made me rich, just took up a lot of my time (1-3 small houses). The houses did gain equity, but I gave up many hours of my life.
Its funny you posted this particular video when you did. My family lost our home a few years ago due to a bad financial choice, and we are now in position to buy a new home. It isn't easy when you you have small children who need so much as well as a disabled spouse, but we are doing it. Great video. Thank you.
@@cranium33333 Hes smart but its not really about being smart in todays world. Everyone has access to the same knowledge you just have to put in the work. Matt is just a hard ass working man with a good ass life to show for it.
@@lazybone92 hum. You've got to work smart. Anyone can have 2-3 shitty jobs, work hard and still barely make ends meet. He started smart having a good degree as a vet. Some good cashflow there, for sure...
@@warrenmichael918 books can show a lot more than a video. Think of all the things that happened before RUclips and all the times and people hes might that he didnt shove a camera in there face
In my case. I bought a house lived in it for 13 years . It was a great house. I moved to the country but kept the first house and rented it out for 5 years. I had great renters until the last renters. They absolutely destroyed it. $20,000 later I put it on the market and sold it. All it takes is 1 bad renter and it'll leave a bad taste in your mouth.
I'm planning on renting in the future so I'm curious was there any red flags or things you should've noticed about the bad renters in hindsight? Did you do credit/background checks?
@@Noadvantage246 my neighbor had a bad experience. A girl rented it, but her boyfriend was a drug addict on speed. He trashed the house over a period of a year, and here in Quebec, it's really hard to evict a tenant. Moral of the story: meet both of the tenants, even if they aren't married, and do an inquiry on both of them. You never know. That guy has trashed properties left and right over the years, not kidding. 🤷🏻♂️
@@gregoirepainchaud That's kinda what I figure, I'm sure it's unavoidable to have a bad tenant that'll cause some damage or neglect at some point but to get a nightmare tenant that'll completely trash the place you either didn't check into them at all or ignored a lot of obvious red flags.
You've inspired me to finish tiling my kitchen floor and finishing the interior paint job I started 16 years ago...lol. As I've often said, I love your channel and how you share your life with Mere and the kids with all of us.... warms my heart and soul. Stay well and travel in peace.
My worst tenant was a family member. Constantly late on rent, she ended up stop paying rent and it took 8 months to to get her evicted. She was so mad I evicted her she trashed the house on purpose. copper water lines ripped out, electrical wire I got all removed, cement was dumped in the toilets, drywall and kitchen cabinets destroyed and much more. I had to completely remodel the home. In the end it cost me just over $90k in lost rent/repairs and caused a huge split in our family. It was a costly lesson.
@@JP-kb4yi, Same exact thing happened to me with an apartment rental to one of my step-children. She had her boyfriend illegally move in, then she moved out. 9 months later, 2500 in lawyers fees, 13,000 in damages, he actually shit in the toilet for like 3 weeks without flushing and left it, Good times. Thank God I have they greatest people in there now.
@GardenaSGC, Can't argue, it is a classic move, nasty but classless move ! lol. I forgot to mention, the toilet was a TOTO and after pouring water directly into the bowl from a 5 gallon pail, that thing did eventually swallow it ! Soooo Gross !!
@@augustreil That is just nasty,I would never do that even in anger.Some people always take it too far.Sorry that happened to you.I will check out the Toto,building a tiny house in my backyard.
Hey Matt I know you may never see this but I've been having a rough year or so but you're videos never cease to cheer me up and I strive to better myself every day just as you say. You are my inspiration to keep going and I hope to be like you one day. We have a big move to another state coming up and its a little overwhelming but I see all the big things you manage to accomplish and it gives me hope that I can do the same some day. Keep on keeping on man, much love from my family to yours and demolitia for life!
The house itself is a hedge against inflation. Real Estate investments are awesome for writing off expenses to avoid the taxes, and if the number work calculating the maintenance costs, it's a win. Thousands of examples of people that are very successful with renting single family homes. Math just has to line up
Our Dad is also a big proponent for rental properties, so it's funny listening to you and knowing everything your saying cause our Dad has taught us those same things
I couldn’t imagine having rent be so extremely high $1600 is exactly 4 months worth of rent for me and that’s a 2 bedroom 1 bath with central ac a front and back yard and 2 parking spaces
Yeah, depends on how close you are to a city center, like Chicago, LA, [Anywhere on the California coast], and how accessible natural stuff is. The cheapest prices are in the interior away from urban centers.
Hey Matt my tió, cousins and I have been watching u for a while now since ur 2nd post of the custom shotgun shells video but my tió got us into you and his name is Javier Perez and he passed away yesterday at the age of 28 and I was wondering if you could mention him on ur next demolition ranch video 🙏😓
@Badness Bob Thank you so very much Bob.... That comment brought tears to my eyes..... I lost/killed my mother December 26th 2018 due to complications from two variants of cancer.....
Such great advice and its pretty good looking back and having those memories with Mere and the kids. One thing to remember though is the wrong renter will make your life hell, destroy your house and make your life miserable. You were definitely blessed to have a family that was respectful and took great care of your property. Unfortunately, not everyone is like that. Also lucky having a dad that planted that DIY spirit in your brain, if you have to call someone for everything being a landlord is the wrong game to play.
I was thinking about the fixing up video when I watched this. Then you played it! Too much fun remembering it all. Even the fall on the sheet rock dust.
I swear I would love to have a family and a relationship like Matt has.....he’s blessed and his family is blessed to have him....you guys always in my prayers
My wife and I are a young couple (both of us are 21) and we’ve been thinking about buying a house but we’re nervous. We both watched this and are more encouraged to actually pull the trigger much appreciated!
When you go to sell a rental without living in it for the last two years...you get a hefty capital gains unless you invest in a like property. You are extremely lucky you have good tenants.
Not accurate. If its your primary residence for two of the last 5 years of ownership you are exempt from capital gains to a certain amount, I believe 250k in gains.
Just so you know, they make LED bulbs to replace the T8 bulbs for your kitchen. All you have to do is eliminate the ballast. Basically you hook up the "hot" to one side and the neutral to the other side.
I'm glad you have decided to keep your outro. It's nice to see a little flashback of Mark after all of your videos. He's home-making everything up in heaven.
You have to also account for the "squatters" that are gonna stiff you on the rent, force you to go through an 18 month eviction process/expense and trash the house while they are there. With the whole covid thing there are a lot of investors regretting becoming landlords.
Yup, be sure to check state and local laws regarding the process for evicting non-paying tenants. Some places, even with an experienced unlawful detainer attorney ($$), it can still take several months if the tenant wants it to.
The future of the neighborhood. Are Democrats going to be running it into the ground like they do every city? LOL. And will you have to sell oh I'm sorry I mean give it to the BLM organization sometime in the future? Got to think about these things forever is a long time!
The are he is in have some pretty high tax rates, for Texas anyway, so I’d be very curious what his yearly tax/ins/upkeep is. I highly doubt break even in 8 years. Also let’s not forget interest on the principal loan.
Fiancé and I were very inspired by your other rental house videos and this was icing on the cake! We just bought our first house/future rental house. Please make a how to on being a landlord!!!
Unless you are a huge handyman and know how to remodel houses.. dont even think of becoming a flipper. It takes a LOT of work and a huge financial backing to buy, remodel, flip, buy, remodel and flip again.
As I am currently saving for my first rental property, I loved this video. I watch you everyday and knew you had rental property but videos like this make my nether regions tingle.
Keep giving good life advice! Most people look at your life now with the “Must be nice” mentality. Keep showing people that they can accomplish big things too!
Daamn I'm so nostalgic, and I its not even my house or memories. Been watching you since the very begining and still remember your excitement of moving into your current house. Its been so long and it feels like it was only yesterday...
"Mere and I" that talks volumes about their love. Also, wonder how much, demo ranch will go for when they move into the mansion. Matt is gonna be a rental magnate soon. 😂
I wish I could find a house for 130k... I wouldve owned a house at 18 at that price lol Here in California the cheapest housing around me is around 300k for a 1 bed 1 bath condo.
MusicMan1eAnda most people I know in California bought their houses in the 80s very early 90s for cheap less than 70k or they inherited it from parents that did it even earlier than that
Same reason people would rather rent than buy. ALL repairs are taken care off. You dont need to bay to fix the furnace when it goes out in the middle of the night
It's the same concept as winning the lottery. Earn less by receiving a huge lump sum now or a larger amount compared to the lump sum over 30 or 40 years or whatever it is.
I have been a fan of your videos for a while. I love to see the progression of your work projects and sending freedom seeds. You have been inspiring. Recently, I have been teaching my teenage son about work ethic, sound investing and the payoffs that may not be immediately visible and this video shows both. Good job.
Forgot interest insurance and taxes
Totally right! I didn’t forget, I was just making it simpler. I wanted this video to be for the complete noobie to spark the idea of creating passive income. I also didn’t talk much about future maintenance/repairs or the house value rising with inflation. Lots of factors go into how much money you make on a house, but IMO it’s generally a good idea to own rental properties. Let your money work for you!
@@OffTheRanch You also didn't mention that if you put $223k in an investment account that earns 7% annually... in 60 years it will be worth $13 million dollars...
@@JFRED_254 Most people don't have 223K to hole away in an investment account for 60 years. However a lot more people can scrape up a 26K down payment and handle a mortgage
I WILL FIND YOU
@@JFRED_254 2.5% is a more realistic, and safer, return rate on that kind of initial investment. 7% is possible, but would come with a higher risk of actually losing part or all of your investment. But yeah, long term investment can make you bank when done right and if you have the patience for it.
If you're an OG fan you'll recognize this house right away 😂 I still remember Matt throwing the mosin bayonet through the wall
Good ole days
@@travisgarnett4026 amen, those were the simpler days with just family vlogs and the vet clinic lol
And the kiddie pool, hose and dozer as the outro
Have a great day brother !
@@travisgarnett4026 you too sir!
It's absolutely crazy to think how far you've come since you started posting regularly on this channel. From posting some cool custom shotgun shell videos to owning a now large business, a Vet clinic, a very nice home, two rental properties, an arsenal of firearms, a Ford Raptor, Five Ton Military truck, a sports car, a burnout car, a Bronco, a mansion renovation project, and 3 beautiful and smart children and a godess of a wife. You weren't given any of this - your hard work earned it. That's some inspirational shit Matt.
And by the way, I haven't forgotten about your dreams to build a true Demolition Ranch. I hope you can make that happen one day.
It feels like she's measuring his net worth with material items
Richard Wolfe really? I don’t see that at all
@@amitchell2009 maybe maybe not but the one who wrote the original comment IS. thats the kind of girl to stay away from.
@@JM-yx1lm
Nailed it....
@@JM-yx1lm are you talking about me? I'm a little confused here.
Hey Matt ,
You’re running multiple business and as I can see you’ve been very successful running them
So if it’s possible to make content talking about starting a business , how to manage it ECT ...
That would be awesome because you’re honest and straight forward.
.
.
.
If anyone likes the idea please like so he can see my comment.
I never really had a dad figure in my life, watching demolition and offtheranch really fill that void. I really just want to say thank you for sharing your knowledge. You have been such a staple in my life. You set such a perfect example on how to be a proper and honest man. Thank you Matt.
i remember Matt tossing a rifle with bayonet thru the wall in that house
Yes! It was in the outro at one point I remember. I also vaguely remember them building that wooden thing that's mounted to the wall If I remember correctly.
Lmao
I remember when he did the video of Addy wetting him with the hose in the tiny pool.
Didn't he fire a gun in there?
I remember when you’d say “I have to run the vet clinic”
Fr what ever happened to that?
He only puts in enough hours now to maintain his license, his other projects/businesses/RUclips channels take up most of his time.
@@americaproud9344 To busy shooting play dough
steven reynolds yep
steven reynolds come on now, if given the choice which would you choose ?
Matt seems like one of those blessings that someone can ask for as a landlord... making sure everything is perfect and stuff..
Get one bad tenant and he'll be the ANGRY landlord ! lol.
Honestly. I wish my landlord was like him... instead he's a slumlord
Tenants have a big part of this too. If the tenants don't care, why is the landlord inclined to fix little things.
My mothers best friend and her husband own a couple of places that they rent and they are both great people. They have done more for my mother and I than almost anyone. I am sure that they'd be great owners and awesome to rent from.
Lol a landlord like him on his good side equals a fun shooting buddy
"Why would anyone do drugs when they could just mow the lawn?" - H. Hill
propane and propane accessories
bahuh bobby
Why can't you do it at the same time? You can sniff the cut grass.
😂 🤣 from Texas also propane
"Damnit Bobby, I told you no more videa games."
H. Hill
Despite what everyone thinks, Matt does come from humble beginnings, much respect
After college yes. Growing up his parents weren’t rich but they weren’t poor either.
@@GradyRho92 oh, ffs
@@GradyRho92 there is always that guy.
@@Avidire that guy that states the truth? Yeah what about "that guy"?
I mean its a fact his parents have been well off his entire life... You could even call them rich depending on your perspective
Talk about a throw back Thursday. I haven't seen that house in like 4 years.
Do another crack house renovation. Need some ideas 😆
No longer a crack house, it's a crack home
I need to get a house to renovate into a crack house.
Yeah XD Because his mansion isn't enough lol.
Angry Cops is renovating a crack house
^ yes
This is why Matt and Mere are such great role models and they're an inspiration to me. They're good people and also educate the viewers by showing their investments. I love it
This house walked so that the Abandoned Mansion could run 😂
😂😂😂😂😂😂😂😂😂 quirky
I just realized how expensive California really is that house could be rented for like 3k here
@@NoLies1776 ooo
Edit: This house crawled, and then the ‘drug’ house walked, so that the abandoned house could run!
It’s so weird cuz in French mere (mère) means mother so it’s like you’re saying don’t tell mother. Pretty close though 😂
i allways thaught of that
well i didn't know that. nice! :D
a mere is a name for a female horse, also means meredith
Matt is basically like another child so it really is fitting
@@squidwardo7074 her namke ism merridith actually
Wife and I just bought our first house together after being married less than a year! (Didn't expect to be homeowners that fast...!) I'm 23 and we purchased our house for ~$140,XXX. I'm thinking that if we stay in the area that I'll do the same as you here. There's also a need for less expensive ($1800 or less) rental property that is in good condition in my area, so we'll likely go that route!
Awesome to see what you're doing Matt! Keep being an inspiration!
It wouldn’t be Ranch Economics without the lesson being taught on cardboard.
Don't forget that he also has another rental proporty. So he owns 4 houses
Well 3 houses and a mansion
Honestly when I first clicked on this video I thought he was talking about that crack house he bought and not the house he lived in when he first started demo ranch
@@kalenanderson1987 Same! I thought "Oh an update on the crackhouse!"
Plus the clinic and bunker branding.
And he worked his arse off for every single one
I was expecting this to be about the crack den house. What ever happened to that?
I bet he still has it but can't show it because people are renting it
He still has it as a rental property. Cant really put it on camera when he has tenants though.
The house relapsed and is back to being a junkie.
@@ViolentKisses87 lmfaooooo you win
@@ViolentKisses87 Hahahahaha.
Great if you have fantastic tenants. Lots of my friends rent out and oh the horror stories. One family had been renting for about 5 years... fell on hard times and trashed the house before moving back to their parents in another state. Took fixtures, AC, Heating and Water Softener too. Big moving truck in the middle of the night. They are still fighting the courts for the vandalism and theft. Some are lucky like you... others are not so lucky. Its a big risk. Another friend had a house vacant for a month... in a month, kids broke in and vandalized the house. Trail cam caught the kids and they too are still going back and forth in court because the kids were minors.
Is the property located in a safe quiet neighborhood ?
Yea seem like your friend trying to rent a house in a neighborhood that isn't a safe investment, that's why you should never rent out on poverty area middle class rental is your safest bet.
Thanks Matt for being so open, same principles apply to many people in many countries
It's insane how cheap the real estate is there
Ikr. In NJ, that would be an easily 350k house.
Yeah but what if the neighborhood changes. Like what if BLM starts knocking on everybody's doors telling them they need to move out. LOL.
@@JourneyOnLife yeah but what if you do nothing? Guaranteed to get nothing. Take risks when you're young
It would be about 350-450k in southwest Washington. That is why i don't own a house. 🙁
@@JourneyOnLife Then you defend yourself and your family.
Your calculations aren't taking into account unexpected expenses. Like replacing the water heater. Dry rot in the floor boards. Needing to re-roof. And even just general maintenance. That is why people think the lump sum up front is better. It takes the variables out of it.
Not to mention the fact that he thinks he will consistently be getting $1600 for 60 years. As if we won’t go into two or three recessions during that time, or house costs inflate, real estate fluctuates, etc.
@@septemily or a house fire.
I’m living proof that RUclips is great for learning stuff.
I had to pass an engineer test for the USCG, and there were steam questions, I had never been in a vessel/boat with any form of steam generation.
Thanks to youtube, I passed the test.
And don’t worry I still haven’t been on a vessel/boat that has steam.
Ian Stradian
I was a Boiler Tech in the Navy...
Troy Stutsman god bless you dude.
I had a question on my practice exam, that kinda blew my mind.
I can’t remember the exact phrase but it had to do with a puffer gland losing pressure....
At first I thought... puffer gland... is this something you use to satisfy those late night urges?
But it turned out to be a pressurized shaft seal.
Anyway I learned so much from watching videos, and google helped a lot too.
I’m an army veteran, I worked on helicopters, as a crew chief and door gunner, in the 42nd Ranger battalion.
Thanks for your service sir!
That's one thing I've been trying to do, teach my kiddos all the little handyman stuff I had to learn the hard way. Fixing car stuff, tinkering, what little carpentry I know, all that jazz.
The break even left out maintenance cost, vacancy, insurance, property taxes, tax incentives and more...
Ya but he seems to be doing the maintenance himself (much cheaper) , he had a tenant for four years zero vacancy, there are tax benefits for having an investment property, and houses go up in value 3-5% per year... So a few years from now he can probably raise the rent up a bit higher ;)
The housing market is about to crash big time. The world economy in general is about to crash big time.
Next year that house might be worth $50,000 and he might only be able to get $500 a month rent. You can't count on things staying the same as they've been in the future. In fact the chances of anyone being on this earth in 50 years is zero according to the book of Revelation.
I was thinking “like freakin Egyptians” right as he said it. 😂
25 years of landlording never made me rich, just took up a lot of my time (1-3 small houses). The houses did gain equity, but I gave up many hours of my life.
1 commercial property and 5 residentials is a sweet spot. College town has made pricing steady. But like Matt said, it is hard to beat a good tenant!
It's done great for me, not rich, but large return for the time spent
i miss jake he didn't even make it to the new bunker branding warehouse
He did my first bulk buy process for my company.
Its funny you posted this particular video when you did. My family lost our home a few years ago due to a bad financial choice, and we are now in position to buy a new home. It isn't easy when you you have small children who need so much as well as a disabled spouse, but we are doing it.
Great video. Thank you.
Best of luck to you and your family, Rob.
Matt you are such an achieving man. You have life all figured out n stuff, you are such a great roll model I look up to you highly
Economics with Matt:
Sits on the floor with a piece of card board and his phone calculator.
The key to his success!!! Lol
And makes probably millions with Bunker Branding! Dude is way smarter than he puts on!
@@cranium33333 Hes smart but its not really about being smart in todays world. Everyone has access to the same knowledge you just have to put in the work. Matt is just a hard ass working man with a good ass life to show for it.
@@lazybone92 hum. You've got to work smart. Anyone can have 2-3 shitty jobs, work hard and still barely make ends meet. He started smart having a good degree as a vet. Some good cashflow there, for sure...
You just might be surprised how many millionaires do just that.....
Hey Matt, have you ever considered writing a book about your life and experiences starting the businesses/investments you've made?
Yes
That's a great idea.
Yes please like so he sees
were kinda watching the movie, the book would not be as fun
@@warrenmichael918 books can show a lot more than a video. Think of all the things that happened before RUclips and all the times and people hes might that he didnt shove a camera in there face
In my case. I bought a house lived in it for 13 years . It was a great house. I moved to the country but kept the first house and rented it out for 5 years. I had great renters until the last renters. They absolutely destroyed it. $20,000 later I put it on the market and sold it. All it takes is 1 bad renter and it'll leave a bad taste in your mouth.
I work in the rental industry. I am amazed at how destructive people are.
I'm planning on renting in the future so I'm curious was there any red flags or things you should've noticed about the bad renters in hindsight? Did you do credit/background checks?
@@Noadvantage246 my neighbor had a bad experience. A girl rented it, but her boyfriend was a drug addict on speed. He trashed the house over a period of a year, and here in Quebec, it's really hard to evict a tenant. Moral of the story: meet both of the tenants, even if they aren't married, and do an inquiry on both of them. You never know. That guy has trashed properties left and right over the years, not kidding. 🤷🏻♂️
@@gregoirepainchaud That's kinda what I figure, I'm sure it's unavoidable to have a bad tenant that'll cause some damage or neglect at some point but to get a nightmare tenant that'll completely trash the place you either didn't check into them at all or ignored a lot of obvious red flags.
@@Noadvantage246 well if there's needles stick in his/hey arm, scabs all over him/her. And he or she smells weed... I'd tell em no
You've inspired me to finish tiling my kitchen floor and finishing the interior paint job I started 16 years ago...lol. As I've often said, I love your channel and how you share your life with Mere and the kids with all of us.... warms my heart and soul. Stay well and travel in peace.
You should replace the Humvee in the intro with your new truck
just what i thought
I think if he did that the silhouette of the truck would take up the whole screen! Lol
@@clshep not if he parks it 500 feet away like in thee movies ;)
My experience with renting to good 'Friends' has been horrific. I will never, ever rent to friends again.
Yep that’s a big rule. They always get too comfortable.
My worst tenant was a family member. Constantly late on rent, she ended up stop paying rent and it took 8 months to to get her evicted. She was so mad I evicted her she trashed the house on purpose. copper water lines ripped out, electrical wire I got all removed, cement was dumped in the toilets, drywall and kitchen cabinets destroyed and much more. I had to completely remodel the home. In the end it cost me just over $90k in lost rent/repairs and caused a huge split in our family. It was a costly lesson.
@@JP-kb4yi, Same exact thing happened to me with an apartment rental to one of my step-children. She had her boyfriend illegally move in, then she moved out. 9 months later, 2500 in lawyers fees, 13,000 in damages, he actually shit in the toilet for like 3 weeks without flushing and left it, Good times. Thank God I have they greatest people in there now.
@GardenaSGC, Can't argue, it is a classic move, nasty but classless move ! lol.
I forgot to mention, the toilet was a TOTO and after pouring water directly into the bowl from a 5 gallon pail, that thing did eventually swallow it ! Soooo Gross !!
@@augustreil That is just nasty,I would never do that even in anger.Some people always take it too far.Sorry that happened to you.I will check out the Toto,building a tiny house in my backyard.
Matt: "It's gonna take so much"
Matt: Buys an abandoned mansion which is literally rotting to pieces.
(Yes, I get it.)
hey man... It's working out😂😂
Hey Matt I know you may never see this but I've been having a rough year or so but you're videos never cease to cheer me up and I strive to better myself every day just as you say. You are my inspiration to keep going and I hope to be like you one day. We have a big move to another state coming up and its a little overwhelming but I see all the big things you manage to accomplish and it gives me hope that I can do the same some day. Keep on keeping on man, much love from my family to yours and demolitia for life!
Forgetting upkeep and inflation annnnddddTAXES
Randall Kelley and insurance and discounting the future cash flows
Hyrum Bigham discounting takes into account opportunity cost
The house itself is a hedge against inflation. Real Estate investments are awesome for writing off expenses to avoid the taxes, and if the number work calculating the maintenance costs, it's a win. Thousands of examples of people that are very successful with renting single family homes. Math just has to line up
This is the house you lived in when your daughter was watering your face.
Lol yah
I completely forgot y'all even had this property lmao
Same!
Our Dad is also a big proponent for rental properties, so it's funny listening to you and knowing everything your saying cause our Dad has taught us those same things
You are a good man in teaching people this.
Ive been doing this for years......
up next: "we bought an apartment complex!"
*abandoned apartment complex
Yeah, they converted in to a mansion and are renovating it right now. 🤣
I couldn’t imagine having rent be so extremely high $1600 is exactly 4 months worth of rent for me and that’s a 2 bedroom 1 bath with central ac a front and back yard and 2 parking spaces
It’s the opposite here! In comparison that is a great price haha
Yeah, depends on how close you are to a city center, like Chicago, LA, [Anywhere on the California coast], and how accessible natural stuff is. The cheapest prices are in the interior away from urban centers.
1400sq ft 3bd 2 ba 2 car small lot $2200 here
Hey Matt my tió, cousins and I have been watching u for a while now since ur 2nd post of the custom shotgun shells video but my tió got us into you and his name is Javier Perez and he passed away yesterday at the age of 28 and I was wondering if you could mention him on ur next demolition ranch video 🙏😓
@Badness Bob Thank you so very much Bob.... That comment brought tears to my eyes..... I lost/killed my mother December 26th 2018 due to complications from two variants of cancer.....
@Badness Bob absolutely... I wish the same for you my friend.
Christopher from the U.S.A.
Such great advice and its pretty good looking back and having those memories with Mere and the kids. One thing to remember though is the wrong renter will make your life hell, destroy your house and make your life miserable. You were definitely blessed to have a family that was respectful and took great care of your property. Unfortunately, not everyone is like that. Also lucky having a dad that planted that DIY spirit in your brain, if you have to call someone for everything being a landlord is the wrong game to play.
You’re a saint! Looking out for your people! You are the definition of a leader
If you can afford it/if you’re not already doing it, you should look into commercial real estate investing
WWWWWhats up you guys! Welcome to the Graham Stephan show! My name is Matt Carriker and welcome to my show!
I was thinking the same 😂
imagine if one day Lincoln rents this house from you and starts his own family in it. Nice thought.
What about Adalyn or Annie? Would that not also be a nice thought them renting it or starting one of their families in it also?
@@gemmawilson1030 he has 3 other houses to choose from
@@gemmawilson1030 You think the girl will be paying for housing when starting a family? Not as likely.
Really cool of you explaining stuff like this. Great message for kids these days.
I was thinking about the fixing up video when I watched this. Then you played it! Too much fun remembering it all. Even the fall on the sheet rock dust.
Matt: You might be thinking, "I'm not an electrician".
Me *an electrician*: uhhh... sure.
“Two people and three kids”??? Hey, Matt! Kids are people too!! 😀😀
are they though?
I'd say that kids are actually more like pets.
Let’s be honest, kids are factory workers
@@FieryCoal oof
@@fbi5937 so true.
Although 2-3 months of rent will go into property taxes and upkeep of the house. And thats providing someone is actually renting it.
Specifically why he said about 18k in a year when at that price it would bring in almost 20k
Also, it is a simplification. Those small details are irrelevant for the purpose of this video. Stop trying to pee in other people's Cheerios.
@@ryanwilder7146 19.2 k at 1600, I highly doubt taxes and upkeep on that house is only 1,200 a year.
I swear I would love to have a family and a relationship like Matt has.....he’s blessed and his family is blessed to have him....you guys always in my prayers
My wife and I are a young couple (both of us are 21) and we’ve been thinking about buying a house but we’re nervous. We both watched this and are more encouraged to actually pull the trigger much appreciated!
Crack house has made more than the car “investments”... but we don’t tell Mere that 😉
That’s not the crank house
@@RushinTruckin Yes, but it's still true.
Next video:MERE DIVORCES ME!!!
@@RushinTruckin Yes it is! Matt is cooking up the yellow rock!!
HowDoWeKnow nope, it’s not. The crack house is 2 stories
When you go to sell a rental without living in it for the last two years...you get a hefty capital gains unless you invest in a like property. You are extremely lucky you have good tenants.
Not accurate. If its your primary residence for two of the last 5 years of ownership you are exempt from capital gains to a certain amount, I believe 250k in gains.
You also dont get rid of the capital gains if re-investing into another property, you only defer them.
1031 exchange. Also... don’t sell the cow. Sell the milk.
Did u'all see how fast they put down the manuals and did other stuff, when the lady's came in (18:30) ✌
Are you joking
Thanks for your videos Matt. Makes me remember when I was raising my kids.
Just so you know, they make LED bulbs to replace the T8 bulbs for your kitchen. All you have to do is eliminate the ballast. Basically you hook up the "hot" to one side and the neutral to the other side.
Did this fool just say, "I'm probably never gonna get fit" lol kinda hard to get fit when you are already fit!
Seems like you're the 'FOOL' then, huh bud?
got them matt jones' vibes with that time lapse music now im missing a backyard build. you gotta go hit a dirt jump track with the mtb
Lol
I knew someone would comment it! Hahah song doesn’t feel the same without a spade in the ground
Damn my house payment is $500 a for 6 more months and it will be payed for
Congrats
Heck yeah congrats!
My wife and I are looking for our first home atm, thank you for the advice and knowledge. Sincerely.
I'm glad you have decided to keep your outro. It's nice to see a little flashback of Mark after all of your videos. He's home-making everything up in heaven.
Last episode: "Mere doesn't like the 5 ton"
This episode: "This is my house!" LOL
You have to also account for the "squatters" that are gonna stiff you on the rent, force you to go through an 18 month eviction process/expense and trash the house while they are there. With the whole covid thing there are a lot of investors regretting becoming landlords.
Yup, be sure to check state and local laws regarding the process for evicting non-paying tenants. Some places, even with an experienced unlawful detainer attorney ($$), it can still take several months if the tenant wants it to.
vet the tenants right
Conveniently forgetting taxes, insurance, and upkeep.
yes yes and hell yes.. its a bit too easy played out, but still there is truth to it.
Fondation repair, HVAC, roof, plumbing...
The future of the neighborhood. Are Democrats going to be running it into the ground like they do every city? LOL. And will you have to sell oh I'm sorry I mean give it to the BLM organization sometime in the future? Got to think about these things forever is a long time!
Taxes would be at least 4000 a year
The are he is in have some pretty high tax rates, for Texas anyway, so I’d be very curious what his yearly tax/ins/upkeep is. I highly doubt break even in 8 years. Also let’s not forget interest on the principal loan.
It nice to see you all work together so well!
Fiancé and I were very inspired by your other rental house videos and this was icing on the cake! We just bought our first house/future rental house. Please make a how to on being a landlord!!!
Next video you should go over the reformed “crack” house that you and mere bought a few years ago to rent.
Yes
He should go up north and help AngryCop fix his crack house.
Write "No Touchy" above that playing card 😂
Man I’ve been contemplating getting into flipping and being a land owner. Still have a lot to think about. Love you guys.
Unless you are a huge handyman and know how to remodel houses.. dont even think of becoming a flipper. It takes a LOT of work and a huge financial backing to buy, remodel, flip, buy, remodel and flip again.
Flipping is much different than Rentals. A lot more cash needed in flipping. A lot of taxes taken in flipping. Higher risk, although higher reward.
Phillip Canada I see. Thanks brother
As I am currently saving for my first rental property, I loved this video. I watch you everyday and knew you had rental property but videos like this make my nether regions tingle.
I think I remember the video you put out when the tree fell and clipped the house, you were a lot cooler about it than I would have been!
Was this the house in the early days of demolition ranch ? Like back when you were microwaving shotgun shells and stuff
Plus the tax deduction for expenses and the depreciation as an asset. Cha, Ching.
Keep giving good life advice! Most people look at your life now with the “Must be nice” mentality. Keep showing people that they can accomplish big things too!
This makes me feel old and I'm only 20. I remember watching back in 2014/15. From that small house, to a big ranch, to a mansion.
Daamn I'm so nostalgic, and I its not even my house or memories. Been watching you since the very begining and still remember your excitement of moving into your current house. Its been so long and it feels like it was only yesterday...
Damn wtf I remember watching them redo this house, I completely forgot about this. It’s felt like so long ago they did this.
"Mere and I" that talks volumes about their love. Also, wonder how much, demo ranch will go for when they move into the mansion. Matt is gonna be a rental magnate soon. 😂
My bet is donut open will buy it, he said he was wanting to move to Texas.
I think Donut Operator has talked about it before. He said he was waiting on a friend to move so he could move into the house.
I wish I could find a house for 130k... I wouldve owned a house at 18 at that price lol Here in California the cheapest housing around me is around 300k for a 1 bed 1 bath condo.
How does anyone in California own shelter? Lol
Welcome to the club lol. Pretty much the same in Europe.
MusicMan1eAnda you either bought it awhile ago, in a terrible neighborhood, or get it from inheritance...
MusicMan1eAnda most people I know in California bought their houses in the 80s very early 90s for cheap less than 70k or they inherited it from parents that did it even earlier than that
Good for you man. Always growing and moving forward
Just watched this and decided to take the leap. I purchased 3 slightly used crack dens. My portfolio is really shaping up! Thanks Demo! Great advice.
Demo's whole video is just the saying "why sell your golden goose for a single egg"
Why would anyone rent a house for $1600 a month? Just buy one at that point
People can't afford down payments, or they aren't settled enough yet to put down roots.
Same reason people would rather rent than buy. ALL repairs are taken care off. You dont need to bay to fix the furnace when it goes out in the middle of the night
i remember the very first vlog of this chanel y'all should watch it
I would personally love more videos about your various businesses and entrepreneurship, so much we can learn
At 18:29 the beat drops as soon as the people come in. Perfect editing
When will donutoPERATOR Hawaiian shirt be on the website
donuto PERATOR!!!!!
Who cares?!
JohnDoeTheTroll him obviously
JohnDoeTheTroll him obviously
@@JohnDoeTheTroll at least 20 people so far....
And before the economy takes a crap, hyperinflation happens, and you can't get your tenants out, I take the 70K and run.
It's the same concept as winning the lottery. Earn less by receiving a huge lump sum now or a larger amount compared to the lump sum over 30 or 40 years or whatever it is.
I have been a fan of your videos for a while. I love to see the progression of your work projects and sending freedom seeds. You have been inspiring. Recently, I have been teaching my teenage son about work ethic, sound investing and the payoffs that may not be immediately visible and this video shows both. Good job.
Don't forget to pop up and look at the attic make sure no critters messed with the insulation that can hurt the cooling bills too
23:25 Matt practicing how to impress girls at sunday school
Yup, only real men carry 4 chairs. Anything less is wimpy.