Chandler, I turned a flip into a duplex saved all cash flow and , put into a 4-plex. My wife and I are looking to buy our first apartment complex this year. I can’t thank you enough for sharing your knowledge for free!!! My parents didn’t have any college degrees or own businesses. I did this myself- thanks to guys like yourself who educate us lil fish for FREE!!! 💜💪💯
Maybe we’re crazy but after getting eight offers on our home, we refused to sell to the arrogant cash offer highest bidder and sold to the young couple who wanted a safe place to raise their family.
I need some guidance please. Lately I've been considering buying dividends stocks for retirement, I have set asides $400k but somewhere along the line, I get cold feet maybe because I'm a rookie and have no idea what I'm doing.
@@tylerroger1636 😍😍😍Rosemary Carlson is there to guiding you through. She was the reason why I got into TESLA digital currencies. She’s quite popular on line, just look her up 🆙
@@leemarty2765 I'm grateful to my broker Jennifer Elizabeth Boland, she was the best and still the best brokerage in Florida. I had less to worry about. Just look up the name you will find her info.
This was a great introduction to buying apartments. Being prepared to talk to these commercial lenders about deals before going in has been huge for me in my career and I wish someone had told me when I was starting out. Thanks for the video!
I subscribed. I’m a military officer, own two homes, was planning on buying 1-2 more before retiring for cash flow. One bought $175k is worth $350k now (Atl), new construction in Fl. already appraised at $265k at closing (bought for $248). I think I’ll sell them for down payment on a residential building. Was looking at quads but I think 24 units is better…and then make an LLC, and keep buying buildings. I think once u have one, you can keep justifying loans off income flow.
@@jamonhughes8455 I’m a Major. I don’t have any vices (smoking, gambling, drinking) or pets. I also bought inexpensive single level new construction homes. I saved up my 12-month Afghanistan deployment earnings, used it on first house. A lot of military dabble in real-estate and often use VA loan to do so.
@@jamonhughes8455 I recommend fee simple new construction single family 3/2 single level homes as cheap as possible. You can do FHA loans, in some states apply for homestead exemption for property tax. The 1% rule is ideally your prop rents for 1% of mortgage. So avoid HOA when able.
Idk if you have patients like I do Sir but I'm SSG in the Army Reserves (with 8 yrs of AD + 6 Reserves) here is how I got my 8 unit apartment building. My civilian job is IT for DOJ/BOP and wife surgical tech. We lived on just $29k of our salary for 8 yrs. We bought extremely cheap houses to point we had a passive income of 17k a month. The family cash flow + passive was enough to negotiated with bank for an 8 unit building. This took us 8 yrs to get to this point.
As a maintenance guy, I wanna buy a complex cause I’ll be able to do all the work myself and save on the maintenance so I feel it would be very profitable for me
Don’t have any properties yet. My goal is to get into real estate investing, my goal is to buy my first property this year. But I’m still watching videos like this cause it’s so fascinating lol.
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Chandler, have you thought about purchasing land and building on it? I’ve been looking into construction loans, architects, contractors…etc, and locking up a deal.
I've been looking at buying a duplex for my first property. My credit isn't the greatest. With the cost of the duplex and the current rental market, it's a no-brainer. So I've been working on trying to figure out away to secure a loan for the property.
Work on increasing your credit score. That can generally be done in just a few short months, depending on what is on it. You only need a 630 credit score to buy a duplex with an FHA loan. There are other benefits too.
Likewise. I'm not sure where to start. My credit score is above 630 but how am I going to be able to provide a down payment *that* massive such as $250k down on a duplex.
@@comerpickles9485 perhaps you have some money coming on with this tax return coming soon? Otherwise, you have to find a way to save it up. Remember that when you are buying, you live in the home for the month and then pay for it, where as when you are renting you pay for the month at the beginning. This means that if you buy in the middle of next month, your first payment is going to be a month and a half away. That allows you to collect your first month of rent and deposit before you ever even need to make a payment.
People can't even afford to put 20% down to buy a home of their own, much less put upwards of 30% on a multi-million dollar loan on a property.. It easy to say just save your money, but very few people would ever be able to save that substantial amount of money just working regular jobs. Good info, but some of your advise is completely out of the question for average people to start investing in this kind of real estate.
Thanks for all the tips. I've been thinking of buying some apartments but I have no idea of what is like to deal with all the stuff that you've mentioned. By the way I'm from New Zealand.👍
Glad I watched this video.. I'm in the process now.. And I'll take your advice... Put down a fourth and spread the rest elsewhere... I'm nervous but being getting tons of advice before I make a move thanks maan
Literally never heard of someone saving 30% on an apartment complex. That’s not realistic. I’m not sure what the point of this particular video is. Are you saying that Average Joe (the 99%) has a real shot at saving say around $300,000 in a single life time? This is not a video giving real world advice. Im not trying to hate I’m just saying that you don’t need 30% saved up in your bank account I’m sure some do it but that is few and far between. I’m sure you have done great with your techniques but for the 99% this method is unachievable.
Chandler, question: you buy multi-family and usually fix/rehab the exterior ... do you ever rehab the inside of each unit? When the tenants move out, that's when you do a nice rehab on the units? Or you just do light touches then? And how do you acct for that in your calculations? You use the cashflow to pay for those?
How'd you get those single family homes? I'm trying to invest in some but have no clue where to start. No solid down payment. I don't even know if my credit score suffices. So many questions
What happens when there is another pandemic and a moratorium on evictions and the tenants do not pay rent even when they are capable? The mortgage is paid by you, not your tenants. The mortgage still must be paid.
How about if you’re starting off on your first investment and you have the experience through books for a value add investment on a apartment building but you can’t get Private financing because you don’t have the “background” or “experience” to get approved. Is bringing someone into the investment that is experienced the only way or is there any other way?
Hi Chandler, thanks for the video. I have about $750K in equity in multiple SFR in AZ and CA, I want to sell and move up to apartment buildings. Do you have any suggestions? Should I take out HELOC's instead of selling? Getting ready to retire in 3 years so I need to make final retirement moves now. Thoughts?
I looked into buying a 40 unit complex, the bank didn't even want to deal with me. They said the only way they would loan money for a complex is if I 1st create an LLC, then that LLC needed at least 5 to 10 or more units, depending on the loan size that can be used as collateral. They also required an Insurance policy that would replace or rebuild the complex if a tornado or fire or another event happened. Property tax money must be deposited into an account that is controlled by the bank. The bank also wanted to run credit checks on all tenants. Once the load was paid off, then the LLC would have to pay for the credit checks. The last part never made sense because the person applying paid for the credit check. The bank wanted 10% of total rent per month.
I appreciate your videos on apartments... I'm all in on single family property right now but I'm actively searching for either and apartment complex or a mobile home park, good deals are hard to come by in my area.
@@brennonthompson835 ah okay. Another question for you is I don’t have the deal yet but I do have a private money lender that will act as a bank to me, but what kind of returns should I propose to him?
I dont know where u r finding these incredibly great deals that gives u >10% cash on cash return. We own some properties ourselves and do alot of research in VA and WA. Maybe u can find 3% cash on cash return. 10% seems unrealistic. 440k house will rent for $2500 in my experience
Do you have to have your LLC in the same state you are buying and holding?? Or Can my LLC be in a different state? Thank you so much for the content and info!
This makes no sense “We gone give you the loan with crappy interest, even though your credit good… just in case you don’t pay back” how does this make sense
Is it possible to do a 1031 exchange on a single-family home to a 5 unit appartment or bigger and differ the capital gains taxes and depreciation recapture taxes?
Probably a dumb question, but does personal income matter when getting a commercial loan? Or does the deal itself just supersede any weakness in one’s personal income?
I’m interesting in buying condo in bronx NYC but i would like to know what the average maintenances fee monthly and what is the average condo rent if I rent it ? I wanna calculate how much I can make monthly profit , thx
Confused, your “market” goes up 10-15%/year, but is that SFR? Isn’t multifamily value based current rents collected? Also, C+ property AND great appreciation? This is Lala land
Hi Chandler, I was going to buy a tri-plex, but I ended up starting a repair center business. I have an LLC, but not a stable income. The business isn’t lucrative yet, but I hope it will become profitable in 2022. Would not having a stable income be an issue??? I know in the beginning of the video you mentioned if you have an LLC the bank doesn’t care where the money comes from? 🤔
I have a tenant that’s 6 months delinquent. Mortgage and HOA only 750$ a month. I have a HELOC for my next one but my plan will only work if my tenant pays on time
Hi Chandler, my partner has a 25 unit apartment building in Springfield IL. under contract. He wants a partner to bring capital. He wants a 50/50 equity split. 425k is purchase price. 75 k in repairs. 600k is ARV. 85% occupied. rent is 450 per door. Also, a Duplex is part of the deal worth 50k. I waiting on the P/L and inspection to be done. complete. My partner said he has a HUD deal to Triple NNN the renters. You think I have a deal here? Where can I get help to underwrite?
Great! Can you share updates? Apt investment is not simple as people might think. Many factors and analysis and many people involved. If done right, cash flow will be great and wealth is created.
Chandler, I turned a flip into a duplex saved all cash flow and , put into a 4-plex. My wife and I are looking to buy our first apartment complex this year. I can’t thank you enough for sharing your knowledge for free!!! My parents didn’t have any college degrees or own businesses. I did this myself- thanks to guys like yourself who educate us lil fish for FREE!!! 💜💪💯
omg please teach me!
your story inspires me as a young adult
Maybe we’re crazy but after getting eight offers on our home, we refused to sell to the arrogant cash offer highest bidder and sold to the young couple who wanted a safe place to raise their family.
Good on you!!! That's great that you recognized a 'real' win-win situation and made a difference in the new buyers life.
I plan to do the same when I sell my home. Greed can make us forget our humanity.
I need some guidance please. Lately I've been considering buying dividends stocks for retirement, I have set asides $400k but somewhere along the line, I get cold feet maybe because I'm a rookie and have no idea what I'm doing.
@@tylerroger1636 😍😍😍Rosemary Carlson is there to guiding you through. She was the reason why I got into TESLA digital currencies. She’s quite popular on line, just look her up 🆙
@@leemarty2765 I'm grateful to my broker Jennifer Elizabeth Boland, she was the best and still the best brokerage in Florida. I had less to worry about. Just look up the name you will find her info.
This was a great introduction to buying apartments. Being prepared to talk to these commercial lenders about deals before going in has been huge for me in my career and I wish someone had told me when I was starting out. Thanks for the video!
I subscribed. I’m a military officer, own two homes, was planning on buying 1-2 more before retiring for cash flow. One bought $175k is worth $350k now (Atl), new construction in Fl. already appraised at $265k at closing (bought for $248). I think I’ll sell them for down payment on a residential building. Was looking at quads but I think 24 units is better…and then make an LLC, and keep buying buildings. I think once u have one, you can keep justifying loans off income flow.
How could you justify cash flow on two mortgages with a low officer salary?
@@jamonhughes8455 I’m a Major. I don’t have any vices (smoking, gambling, drinking) or pets. I also bought inexpensive single level new construction homes. I saved up my 12-month Afghanistan deployment earnings, used it on first house. A lot of military dabble in real-estate and often use VA loan to do so.
@@jamonhughes8455 I recommend fee simple new construction single family 3/2 single level homes as cheap as possible. You can do FHA loans, in some states apply for homestead exemption for property tax. The 1% rule is ideally your prop rents for 1% of mortgage. So avoid HOA when able.
@eduar ed my houses are simple. What I did isn’t hard and you can too. Recommend start small, or what this channel teaches is a good blueprint.
Idk if you have patients like I do Sir but I'm SSG in the Army Reserves (with 8 yrs of AD + 6 Reserves) here is how I got my 8 unit apartment building. My civilian job is IT for DOJ/BOP and wife surgical tech. We lived on just $29k of our salary for 8 yrs. We bought extremely cheap houses to point we had a passive income of 17k a month. The family cash flow + passive was enough to negotiated with bank for an 8 unit building. This took us 8 yrs to get to this point.
As a maintenance guy, I wanna buy a complex cause I’ll be able to do all the work myself and save on the maintenance so I feel it would be very profitable for me
Man, the treasure valley market is BRUTAL. Insane appreciation. Hard to cashflow. Love your material bro!
The amount of value in this video is incredible! Thanks so much Chandler 💪🏽
Wow, tangible advice with no hyping and sales pitches. Just straight to the point.
Don’t have any properties yet. My goal is to get into real estate investing, my goal is to buy my first property this year. But I’m still watching videos like this cause it’s so fascinating lol.
Im 23 with 1 single family rental, i plan on buying a duplex later this year!
Let’s goooo
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Chandler, have you thought about purchasing land and building on it? I’ve been looking into construction loans, architects, contractors…etc, and locking up a deal.
Most underrated channel on this platform
Thank you!!
Super motivational Chandler. I just locked up my first tenant in my first rental property. Looking forward to learning more from you!
hahahaha
Phrasing ! Lol . Hopefully the tenant has the key ?! 😂😂
@@socialclubmusic_ Lol I literally just realized how that sounded smh..
@@CadenLeno 😂😂 let him out for air man
@@BadForYourKidneys I'm desperate for CASH FLOW!! lol
I've been looking at buying a duplex for my first property. My credit isn't the greatest. With the cost of the duplex and the current rental market, it's a no-brainer. So I've been working on trying to figure out away to secure a loan for the property.
Work on increasing your credit score. That can generally be done in just a few short months, depending on what is on it. You only need a 630 credit score to buy a duplex with an FHA loan. There are other benefits too.
@@marisastoneobrien7834 I'm actively working on getting my credit score up enough to make something happen.
What state are you purchasing in?
Likewise. I'm not sure where to start. My credit score is above 630 but how am I going to be able to provide a down payment *that* massive such as $250k down on a duplex.
@@comerpickles9485 perhaps you have some money coming on with this tax return coming soon? Otherwise, you have to find a way to save it up. Remember that when you are buying, you live in the home for the month and then pay for it, where as when you are renting you pay for the month at the beginning.
This means that if you buy in the middle of next month, your first payment is going to be a month and a half away. That allows you to collect your first month of rent and deposit before you ever even need to make a payment.
I WILL OWN multiple 100 unit up apartment complex in my future
People can't even afford to put 20% down to buy a home of their own, much less put upwards of 30% on a multi-million dollar loan on a property.. It easy to say just save your money, but very few people would ever be able to save that substantial amount of money just working regular jobs. Good info, but some of your advise is completely out of the question for average people to start investing in this kind of real estate.
Thanks for all the tips. I've been thinking of buying some apartments but I have no idea of what is like to deal with all the stuff that you've mentioned. By the way I'm from New Zealand.👍
After I graduate I plan on buying my first apartment complex! This was very insightful!
You really did a good job explaining this. It really helped me understand a lot more of what goes into buying properties.
You should make a video on shopping for a management company.
Just curious...why wouldn’t you just hire a commercial mortgage broker with established relationships to shop all the lenders? Love the vids!
Extra cost?
What you pay in cost is made up in time savings and potentially better deals and terms.
Love your videos! Great practical advice, side note, d2d is where it’s at! Helped me start too.
Glad I watched this video.. I'm in the process now.. And I'll take your advice... Put down a fourth and spread the rest elsewhere... I'm nervous but being getting tons of advice before I make a move thanks maan
Perfect I’m 20 look at buying a quad plex this year to house hack
Literally never heard of someone saving 30% on an apartment complex. That’s not realistic. I’m not sure what the point of this particular video is. Are you saying that Average Joe (the 99%) has a real shot at saving say around $300,000 in a single life time? This is not a video giving real world advice. Im not trying to hate I’m just saying that you don’t need 30% saved up in your bank account I’m sure some do it but that is few and far between. I’m sure you have done great with your techniques but for the 99% this method is unachievable.
Someone had to say it. Thank you!
Chandler, question: you buy multi-family and usually fix/rehab the exterior ... do you ever rehab the inside of each unit? When the tenants move out, that's when you do a nice rehab on the units? Or you just do light touches then? And how do you acct for that in your calculations? You use the cashflow to pay for those?
I need to play this a few more times! Thanks ❤
When you talk about building a good relashionship with the bank do you mean using the same bank all the time or the same loan officer?
Great video, I have 5 Single family homes and thinking about getting an apartment complex. thank you for the video.
How'd you get those single family homes? I'm trying to invest in some but have no clue where to start. No solid down payment. I don't even know if my credit score suffices. So many questions
Great content
Thanks man! Miss ya!!
Good information and I look forward to getting into this space
this channel is underated
Thanks again
Your doing gods work
The issue now, is that people are paying whatever the seller wants just to place money and get the property
What happens when there is another pandemic and a moratorium on evictions and the tenants do not pay rent even when they are capable? The mortgage is paid by you, not your tenants. The mortgage still must be paid.
Rent to section 8
Tools of the Titans a great book
Sick man. Great advice and very clearly said.
Thank u God bless you
When you listed Apt complexes I said out loud “ Well, got d@mn”🤣🤣🤣 I love it here. ❤️
Hey Chandler, with a totally different real estate market now, how would you go about buying an apartment now or would you not buy at all?
How about if you’re starting off on your first investment and you have the experience through books for a value add investment on a apartment building but you can’t get Private financing because you don’t have the “background” or “experience” to get approved. Is bringing someone into the investment that is experienced the only way or is there any other way?
@RBA Equity Sweat equity.
Wishing you and the family well 🙏🏽 an best holiday wishes to you *Chan Man*
Hi Chandler, thanks for the video. I have about $750K in equity in multiple SFR in AZ and CA, I want to sell and move up to apartment buildings. Do you have any suggestions? Should I take out HELOC's instead of selling? Getting ready to retire in 3 years so I need to make final retirement moves now. Thoughts?
im 18 and want to get into real estate mainly owning an apt complex fs
I looked into buying a 40 unit complex, the bank didn't even want to deal with me. They said the only way they would loan money for a complex is if I 1st create an LLC, then that LLC needed at least 5 to 10 or more units, depending on the loan size that can be used as collateral. They also required an Insurance policy that would replace or rebuild the complex if a tornado or fire or another event happened. Property tax money must be deposited into an account that is controlled by the bank. The bank also wanted to run credit checks on all tenants. Once the load was paid off, then the LLC would have to pay for the credit checks. The last part never made sense because the person applying paid for the credit check. The bank wanted 10% of total rent per month.
make the deal
Find a new lender. Lenders don’t run credit checks on tenants.
PSA : It also works if u have a VERY GOOD credit score and need inquiries, collection accounts, charge offs or debt etc removed .........
are happy, may God bless him.
8 plex, $20k, that's pretty low. Assuming you're getting it at that rate and will be making improvements so that you're cash flowing better?
I appreciate your videos on apartments... I'm all in on single family property right now but I'm actively searching for either and apartment complex or a mobile home park, good deals are hard to come by in my area.
Wouldn’t recommend mobile home park
Mobile home park? Why
@@avdilluma1652 since it is a mobile home park you will not get as high of income, no appreciation only depreciation
@@brennonthompson835 ah okay. Another question for you is I don’t have the deal yet but I do have a private money lender that will act as a bank to me, but what kind of returns should I propose to him?
@@avdilluma1652 I would love to answer but there are too many variables that I don’t know
Can you skip the small steps (single family, duplex) and jump straight into deals like this???
What’s is an AM?
I dont know where u r finding these incredibly great deals that gives u >10% cash on cash return. We own some properties ourselves and do alot of research in VA and WA. Maybe u can find 3% cash on cash return. 10% seems unrealistic. 440k house will rent for $2500 in my experience
he's in Idaho. i wouldn't even do a real estate deal with a 3% cash on cash return makes 0 sense you can get that in a bond fund
Youre handsome! Good stuff bro.
As aperson whos making 40k+ a year. What do you think of me getting an 20 to 30 unite apartment complex?
Damn you doin yo shit motivation you my new competition
Love this guy!
Thanks, for sharing
Do you have to have your LLC in the same state you are buying and holding?? Or Can my LLC be in a different state? Thank you so much for the content and info!
Ask your attorney, usually you get an LLC in the state of the asset
This makes no sense “We gone give you the loan with crappy interest, even though your credit good… just in case you don’t pay back” how does this make sense
Great video. Great channel
Curious what your rates are now in the current market?
How do you name your business and what should I name it if I want to do a multitude of things
Is it possible to do a 1031 exchange on a single-family home to a 5 unit appartment or bigger and differ the capital gains taxes and depreciation recapture taxes?
Yep
So what's the answer? Can this be done as a like-kind exchange?
Yes
Probably a dumb question, but does personal income matter when getting a commercial loan? Or does the deal itself just supersede any weakness in one’s personal income?
It depends
Have you heard of Ben Mallah? That guy is wild.
Have you done a Syndication before Chandler? That would be a great explanitory video
Thank you🤜🤛👍
Good vid bud.
Thanks Credible cyber
Good info. What market are you in?
With all those properties, do you use a property management company? That’s a lot of units.
What different ways can we get money to do rehab?
ROFL...me in 2024 looking at well over 8 percent interest rates.
I’m interesting in buying condo in bronx NYC but i would like to know what the average maintenances fee monthly and what is the average condo rent if I rent it ? I wanna calculate how much I can make monthly profit , thx
W any stress brings a falll
That book back there will eventually fall
Awesome 😎
What do you mean when you say wholesaler?
Thank you for the advice Mr Hannibal Lecter
Confused, your “market” goes up 10-15%/year, but is that SFR? Isn’t multifamily value based current rents collected? Also, C+ property AND great appreciation? This is Lala land
Look at apartments the are willing to sell how do I do this
Hi Chandler, I was going to buy a tri-plex, but I ended up starting a repair center business. I have an LLC, but not a stable income. The business isn’t lucrative yet, but I hope it will become profitable in 2022. Would not having a stable income be an issue??? I know in the beginning of the video you mentioned if you have an LLC the bank doesn’t care where the money comes from? 🤔
@neal cassady what happened in your situation?
I have a tenant that’s 6 months delinquent.
Mortgage and HOA only 750$ a month.
I have a HELOC for my next one but my plan will only work if my tenant pays on time
Why is that person still there?
See you gotta come up with 20-30% where did you come up with money? Self made or did you come up some how?
If you could get a 70% loan on an apartment complex, is it possible to get the rest of the 30% from a private lender, or is that not recommended?
What to do when most of the deals nowadays have been quite overpriced?
How about build to rent?
What is the name of bank?
What is the website for searching for 8units or 32?
Did you buy them right out or did you go through the bank?
Hmm
Do you offer any classes or possibly do any one on one courses?
Where to find investors??? Im in PUERTO RICO its a Headache to find them
Hi Chandler, my partner has a 25 unit apartment building in Springfield IL. under contract. He wants a partner to bring capital. He wants a 50/50 equity split. 425k is purchase price. 75 k in repairs. 600k is ARV. 85% occupied. rent is 450 per door. Also, a Duplex is part of the deal worth 50k. I waiting on the P/L and inspection to be done. complete. My partner said he has a HUD deal to Triple NNN the renters. You think I have a deal here? Where can I get help to underwrite?
Great! Can you share updates? Apt investment is not simple as people might think. Many factors and analysis and many people involved. If done right, cash flow will be great and wealth is created.
They stated on each case that I had an eviction although I’ve paid the
never received the eviction because of being gone from my previous
What banks you talking about? What are the name of banks?
Allen Sharon Davis Mark Hernandez Donna
What’s the purpose of a title company
lease, they swore the information was sent to my current address but I