How to Buy Your First Rental Property | Real Estate Investing for Beginners
HTML-код
- Опубликовано: 7 фев 2025
- Are you looking to buy your first rental property? Sam and Lucas have built a $10M rental portfolio without using any of their own money! 🏘️🏘️🏘️🏘️
Real estate investing can be tricky for beginners but after you watch this video you will have a very concrete understanding of how to buy your first rental property. These guys will walk you through the main steps of real estate investing with no money and lay out everything you need to know to confidently buy your first rental property.
Watch more videos like this:
Do These 5 Things to Buy Your First BRRRR Deal: • Do These 5 Things to B...
Avoid This When Buying Your First Property: • Before & After | BRRRR...
How I Bought BRRRR Rental No Money Out of Pocket: • How I Bought BRRRR Ren...
📢📢📢COMMENT CHALLENGE ALERT!! ($10,000 value)📢📢📢
From now until the end of the year you will have the opportunity to win the opportunity of a lifetime. Every comment made on this video and all our other videos will get you name put in a virtual hat, at the end of the year we will draw a name out of that hat. The winner will get access to us and our team for a full day. In case you are wondering what that looks like...
-We buy 200 houses a year
-We have a 25 Million dollar rental portfolio
-We are experts (and our staff) at building a rental portfolio, rehabbing, wholesaling, raising funds, property management, building a business, marketing, negotiation.... you get the picture! The winner will tap into our knowledge for a full day and we WILL make you and your business better... all for comments, what a deal! So comment on this and our other videos to up your chances!
Subscribe for new weekly videos👇
www.youtube.co...
💯💯💯💯Also go to www.freerental... for an amazing FREE webinar we just shot! I give you all the tricks and tips for real estate investing. Including where to get funding, how to invest without using your own money and a ton of free giveaways. It can literally change your life!
We seriously want to help you become financially free💰 (get our name now!?!?)... Go to www.fasterfree... to learn about our amazing course we created to teach you EXACTLY how to build wealth through owning real estate. We have done it and now we want to show you how! Whether you have 0 or 100 properties, we can teach you how to start or how to improve your processes!
Call or text Sam directly @ 314-282-7474 to find out more about about our offerings or to connect and discuss real estate investing!
Here are some of the resources we use that help us to be extremely successful! Utilize our links for additional FREE trials and discounts.
DealMachine App (Driving for Dollars!!)
Link: dealmachine.ap...
Promo Code- FASTERFREEDOM
PropStream- Homeowner Data, Lists and Comparable Home Software
Link- trial.propstre...
Follow us!
Instagram- FasterFreedom
Facebook- FasterFreedomRealEstate
TikTok- @fasterfreedom
Twitter- @fasterfreedom
Join our amazing Facebook Group as well- / cashflowing
Share with your friends!
• How to Buy Your First ...
#howtobuyyourfirstrentalproperty #realestateinvestingforbeginners #rentalproperty
Hey Sam. I’m 19 and avidly trying to get into this, even learn the ins and outs, so I can be years ahead. I was scared to begin this journey, but you suppressed any fear. You truly are one of a kind, you’re an amazing man and an inspiration to someone as young as me. NOBODY sits down and has a free, hour and 15 minute video discussing deep topics about how they built wealth. And for that I thank you!
Thank you!! I really appreciate that! Check out my other stuff too!
Yo where are you now one year later my friend, how is it going for you ?
@@sukhmanisingh1903This is my question as well.
FINALLY THE TRUTH!!! Someone who really wants to help others.
I'm so very happy that I finally found someone providing ALL the information needed to get started without asking for thousands of dollars first.
Let’s go!!! Thank you!
THE BEEEEEEEST VIDEO ON THIS EARTH about BRRRR.
No extra garbage. Straight to the point!
This channel has some seriously great content on real estate investing. I thought I knew the basics but I've definitely learned a lot more from watching you guys. Nicely done!
Thank you very much! We work hard to give real actionable content! Appreciate you watching! Real estate investing is fun!
This... was... very good information! No fillers, no beating around the bush. Just straight up quality content.
I definitely know what to focus on in the next 12 months. If all goes well we'll have purchased our first rental property.
I read rich dad poor dad and I thought it was overhyped but it does motivate you to be self educated and you are doing just that.
It’s a good mindset book to read right off the bat!
I started to read that book too. It’s to educate people to have a diff mindset from what we have been told. I do want to educate myself more and be financially literate
Guys, a big Thank YOU! I've been waiting for a long time (over 10 yrs!!) to pull the trigger on my 1st rental property. Im about to make my 1st offers!! Love the content and im excited to take the leap!
🚀🚀🚀
I’ve been wanting to acquire rentals properties for YEARS, paid good money to attend seminars but have always been reluctant to pull the trigger on it. Thanks for sharing all of your knowledge.
Awesome! Thank you! Also go to www.freerentalwebinar.com for more free training!
@@FasterFreedom you say free training but when you hit the contact button to schedule mentoring, it says it costs several thousand. Which is it?
Just joined the Faster Freedim Mentorship last week. Super excited to go all in and build a rental empire!
This is a great initial video to what the process looks like. Well done! 👏
Welcome aboard!🙌
Great stuff! Total rookie here always wanted to get rental properties but have no idea where to start!
Well you are in the right spot! Check out our videos and we can at least get you down the right path!
@@FasterFreedom Watching, watching ;-)
Gregory Arianoff Love it!!
All i have to say is..THANK YOU! Truly grateful for people like yourselves that enjoy helping others.
Thank you too!
This is one the best video breaking down the BRRRR concept that I’ve seen. I’m pretty familiar with the concept but even the. I’m impress by how details and we’ll explained you guys were. 👏🏽👏🏽
Well thank you! Subscribe if you want to see more!
We are going to try this. Right now I'm gathering all the info to start preparing a team. I'll need to find a lender, contractor, property manager, and tax accountant that I can trust.
This video was amazing! Best hour and half I have spent on youtube maybe ever!
Thank you!!!
Any videos for people in the military who would need to use a rental management company to take care of their rentals? It would be incredibly difficult to be active duty and give a lot of attention to a properties. Thank you.
Thank you for this great information! I have a goal to purchase first investment property by end of 2022 and this video came across my RUclips feed so timely. The teacher in me had me writing notes and highlighting🤣🤣🤣 Wish me luck as I wish you guys continued success!
beef those goals up my friend! you can do 3-4 your first year EASY.. Don't need to use your own money, and don't need perfect credit to wholesale your way into a great deal! please feel free to Dm me on IG and i will send you my free training on rentals that will make clarity out of confusion!....and good luck😉
This is top notch content.... Subscribed!!
Thank you! That’s our goal... value!
This is amazing. Thank you for your transparency. There are people who have BRRRR strategies and want to charge thousands to learn their system. I wonder if they do anything different tbh.
I appreciate you guys taking the time to do this. Now that I’ve made a decision to leave my corporate job, I can’t wait to become proficient in this method. Keep up the great work and continued success to you.
Nice! Dm me on IG for my free training
Super helpful info guys. Thank you very much
Half way through. Had to pause and comment that this is some really great information.
Simply awesome!!! 👍🏽
Thank you! Cheers!
Hi guys!!!! I live in TX (North Dallas) and I am trying to get as much as education as possible. I have a strong desire to get into real estate investment and I honestly feel really green. Thank you for sharing so much knowledge.
You guys are awesome I plan to do this in Hawaii. Know it’s a hard market but I’m not letting anything hold me back from getting my first deal under contract by the first quarter of this year. Wish me luck because I’m not stopping till I get my first brrrrr under contract
What's up man, we have several members of our mentorship program who live in Hawaii. You should consider joining!
You guys touched on great points for starters im totally new to investing anything this is great stuff 👍 👌 👏
Awesome! Thank you for that!!!
Special thank you all for simplifying this process 👌🏾much appreciated 🙏🏾
Glad it was helpful!
Appreciate all the great content you guys are posting!
Thank you! We are excited to get this one out, buying your first rental property is exciting. Thanks for watching! 👊🏼👊🏼
That was so helpful. You guys are freaking awesome. Ive had people give me wrong information just so that I do not get into buying houses, and here you are sharing all the ins and outs of the business. Kudos Guys !!!
Thanks! We give away more for free than most paid programs. We want to help as many people as possible!
You guys are great. You get right down to business and don't BS. Love it.
Thank you very much! See you on the next one!
I'm just getting started ..thanks for the knowledge!
fear is part of the process! embrace it and keep moving forward💪
Awesome video. I know you guys talk about using BRRR. I was wondering what kind of liquid cash reserves do y'all recommend having available before buying your 1st property? How much do hard money lenders usually require you to have in an account and what kind of credit score do portfolio banks require to refinance? Thank you and please keep making these videos!!!
It depends on your level of comfort but we suggest having at least $1000 per door until you hit a certain point. Currently some hard money lenders are asking for 10K in your account but you do not necessarily have to use it. Some require no cash though. Credit so mores depend on the bank but probably mid to upper 600s. Thanks!
Awesome definitely motivated to start doing this in Florida.
That is awesome! Best of luck! You can do it!
I’m 31 but taking action! I’ll be at a 10mil portfolio in 5 yrs!
Let’s go! Love this! Go to www.freerentalwebinar.com for my free training and info on my mentorship!
How
Thanks for a great video! I am new to this and did not really know where to start.
Awesome! Glad you are here!
Yes! I am so glad you guys are making these videos! Please let me know how I can reach out with questions.
Hey man! Don't to forget to subscribe to the channel and send me an Dm on IG! I will then send you a link to our free training
wow so much content in one video thanks guys
Thank you !
So...we pay the mortgage on the house while we're rehabbing and waiting for it to be rented? How do we afford that while also paying our own living expenses? And should I buy a rental property as my first mortgage? I've never bought a property before.
Found you on tictok! Thank you for sharing the info to us noobs!
Thanks for being here!
How do you put together the rental contract? Do you use the state's default one or do you put one together yourself? If you do it yourselves, are there key items you always have in them?
Great video. What you should touch on next time is paperwork (how much is involved), should you have a lawyer and getting an inspector that you trust before getting into a contract
leverage your inspection period! 💯
Fantastic content! Thanks for going into detail for each of the steps of buying one’s first rental!
For sure!
You're the man Sam! Another great video!
Thank you!!
Thank you for sharing this information. Very informative.
Your welcome. Stay tuned for more! Have a great night!
What's your policy when choosing who to rent to. Background checks? Credit? Pay stubs?
Yes to all of the above plus a landlord reference and current home visit!
Thank you for your time and the great content you are providing!
Thank you for commenting! Appreciate you!
I’m looking to get into investing in Realestate, one question I have is during the rehab process that will take a few months. How do you cover those payments until you can get a renter in it to cover the payment?
That is part of the rehab costs and comes out of those funds. Great questions
great video! love the knowledge and clear use of words! iv recommended this channel to many others interested in real estate. keep it up guys!
Thank you very, very much!!
If you are looking at a house . How do you know how much repairs will cost you ? How do you know the bank will refinance and do you go about setting that up?
Use the BRRRS Calculator in our program.
Great stuff. Ty, I now have a better understanding in investing in real estate. Yes
Thank you!
Loving these videos! Getting me on the right mind set. Can’t wait to buy my first rental property
you can do it!
Another great video!! Thank you!! Question: How do you ensure the value of the appraisal is high enough to cover the upfront borrowing costs+interests from OPM? What happens if the refinancing part doesn't cover that debt?
Great video guys! Appreciate what you’re doing. Thank you!
Thanks Shehzad
Oh man you are a genius 👏 thank you so much
I don’t know about that but thank you!
Question: when you refinance the property and the bank gives you 75-80% of the value how do you repay the hard money lender? Do you give them back the money in one check or do you pay back a percentage over time.
Pay it back with the refinance check!
hi Sam
I am trying to built my portfolio by start searching for good deal. i will to invest using opm what is the 1st, 2nd an final step please?
thank you for your video's.
Thanks for all the help guys!
Thank you!!
Thank you!!! Such valuable information, the fact you guys are giving this away for free and benefiting potentially countless people's lives is amazing .
Thanks so much! My personal mission is to help as many people as possible. Please help support by subscribing to my channel and hit that like button! It helps us reach more people. Thank you!
@@FasterFreedom bro , I subbed , liked and favorites this video already. Keep going .
Love your Channel love to learn more
Thank you!
Man I have a mentorship with another investor that isn't really into BRRRR because of current DSCR rates and the risk of not having good cash flow. I'd like to talk with you guys too.
DM me on Instagram. Same handle
@@FasterFreedom I don't have instagram (yet anyways). Are you open to another way to connect? I'm currently in a flip and have two more to take down this month and close and I just bought a house subject to. But I'm building a team and the BRRRR sounds most appealing to me and my goals but I've met people who are losing money on it. I'd love to really pick your brain. I'd even pay you to hop on a zoom call or something.
Great video really appreciate the quality and detailed explanations.
Sure thing Nick!💪
Hey, thank you for this great content! I live in a city with multiple colleges and I am trying to decide whether targeting adult tenants or renting per room to college students would be more profitable or feasible for the BRRRR method. Thank you!
Good thought! Keep in mind your vacancy will be a lot higher with students going home for summer..and a bit more to manage all those tenants. But I like where your heads at!🚀 Watch this and see if it helps at all 👉 bit.ly/3LqBF4l
Great Video. Thank you for all the knowledge!
Thank you for the comment!!
Is it still relevant in light of all the interest rate hikes in the last two years?
Thank you so much for the value 🙏🙏
Glad it was helpful!
Great video!
Thanks!
This is the best content I have ever watched on RUclips relating to realestate! I am now a loyal subscriber. Thanks so much! Now all I need is a legit hard money or private money lender. 3 months in my search and no one seems legit. Please help! Thanks again
Thanks! How is your search going?
Awesome video! tons of free information and experiences you can't find on most paid courses!!! answered all my questions about financing my first real estate.
Thank you very much!!
I'm looking to become financially independent. This looks like a great start.
It is! Glad you are here! Go to www.freerentawebinar.com to learn more as well!
Great video! I’m glad I watched this entire thing. It’s great you guys are doing this for everyone. I’m excited to start up. I’m in the Kansas City are and I’m sure you’d tell me I didn’t ask everyone if I didn’t ask you if you know any contacts around the Kansas City area that would be great to contact!
Thank you!
KC is a great market! Networking is the key to succeeding in Real Estate Investing
Switching from buildium to what property management software?
Great video, At what point when looking at a potential deal do you get your contactors on board and get bids? Are you calling 3 of them and having them walkthru the property with you once its under contrac? or are you taking detailed videos and pictures during your walkthru and getting their bids later? Would love to have this q answered great content!
you have options..We usually run our best guess first and get it under contract. While we have our inspection period contingency we will get our crew in there to give us a better estimate and revaluate from there👍
I’m really pumped to start! Started with your TikTok videos, now following on RUclips. Going to start investing in the very near future. But why do you do these videos?
To help people and grow a brand! I have Mentorships that some people elect to join as well!
@@FasterFreedom i would love to join! Where can I sign up?
Ok so I brought a house from a Tax foreclosures auction for a fraction of what its worth. It need little work. However every bank is stating they only finance vacation home. Not rental properties. Am I saying something wrong? What type of loan should I be asking for? Thanks.
your looking for a commercial loan to cash out refi (I assume)
look for small local banks/ credit unions / community banks / etc.
One thing to note, sounds like you will have to pay the Rehab costs out of pocket, BUT you recapture that once you refinance. Ideally the refinance covers the original loan to buy the house + rehab costs, then the rest is gravy with the tenant paying down the mortgage. I want to try this, definitely need to have a good handle on what the home will be worth after rehab and what those rehab costs will be. That's the part I'm trying to overcome, convincing myself I know what that house is going to be worth after rehab. Neighborhood comps and hope that the refi bank agrees as well with the appraisal. If they low-ball compared to what you thought it'd originally be worth after rehab, I could see that being a tough spot. Any advice on avoiding that?
thanks!
Is bad credit going to be an issue? Covid destroyed my credit. Is this something I can do with terrible credit?
Yes you can wholesale, I have a few videos on it now on here and just recorded another one
Thank you so much for this video!
Thank you!!
Great information. Thank you for the education.
My concern is creating the banking relationship needed for the refinance and the qualifications.
don't limit yourself, you can do it. Start networking and conversing with bankers
Great job boys!! Good info
Thabksnn
How much research did you do on real estate investing before you were confident enough to pull the trigger. Did someone walk you through it. This has the basics but explain the process on the paper work side. You find a private or hard money lender to see what you’re approved for, locate a property that discounted deep enough to properly cash flow and then what. Lawyer, contract, title company??? This is the part I need clarity. Thanks so much for your videos
I researched for about a year. Go to www.freerentalwebinar.com for more info and to schedule a call with me to discuss this further. Also hit me up on insta!
GREAT CONTENT AND INFORMATION GUYS THANKS A MILLION 👏🏾👏🏾👏🏾👍🏾
Thanks! DM me on IG if want my free training
Beautiful! This information is so vital.
Thank you!!
22:21 where are you diving in?
Excellent information thanks guys
Thank you!
Would it be beneficial to get your real estate license if your goal is owning rental properties? Or not worth the hassle?
It is definitely beneficial but not necessary!
Hey guys, what about pulling equity out of my home. I’m in KCMO if that helps.
leveragig equity in your personal house is a great idea as long as you are being SAFE and keeping the investment short term..
DM me 'FREE' on IG @SamFasterFreedom and I'll send you a training that will help you get started!👍
Awesome information
Thank you!!
Do you recommend working with a partner in real estate investing? Seems like you both are in it together.
Would you mind explaining how to find out ARV?
I have some videos on it
Before you start the Brrrr process to rent or flip would I need to start a business to purchase properties under or just personally buy them? Would Hard money lenders be more motivated to lend you money if you approach as a business vs personally applying
I would create an LLC and transact under the LLC
In your market you try to shoot for $200 a door on SFH what is your average rents to get a percentage idea?
That’s not a bad idea, each has their own way!
So much great information. What if appraisal comes in below expected amount?
It happens..Just make sure you have reserves and a back up plan..You can plan for a lot but appraisers can be tricky
Hey Sam! What are the main types of areas you buy in? Here in Milwaukee we have many C-D areas that investors buy in for the cash flow but are a little higher crime than average. Is that something you’re okay with when buying?
We stick to mostly B to C+ areas. There will be an element of crime but our approach is to stay away from the war zones
Question. So when you get a private lender and buy the property and everything then you rehab the house and go to refinance the house through the bank how is it that they give you 75-80% even though the house is already paid for?
The house was paid for by the PL. (They want their money back!) So you go to the bank and get a mortgage on the new loan and use that new loan to make your PL whole again👍
@@FasterFreedom awesome I see thank you
@@FasterFreedom somewhere in the video, you guys mentioned that the rental house will be under the PL's name. When you pay that person back, how will it change back to yours?
Thank you guys for the great information you guys answered all my questions about getting start but im having a hard time finding wholesale groups and investment groups in my area. Are there any websites you guys use to find houses
Drive for dollars, FB groups, cold call..sometimes you gotta get creative💪
Hello Sam,do all property management companies find tenants for landlords?What do you think?
99% yes
Great info next video
Thanks!
Watching the 6 part series , learning a lot , would love to win the mentorship
Aweosme! Thank you!
Thank you 🔥🤘🏻🎸
No problem!
I still do not get that lending part of the process.
When you borrow money from a private money lender, is it a 100% of the house+exp or less?
Also how did you get a 100k house to be 50k?
Im messing up the mash or something...ok so I have a house that's appraised at 271k but it's for sale at 99k. I'm going to look at it Tuesday and I know It will need a lot of work from the pictures..I think the price is good as long as the roof and the r Foundation is solid..but when I run numbers I get mixed up
After Repair Value x 75% - repairs = Max Allowable Offer
have a contractor walk it with you if possible and give you an estimate of what they will charge. Run your own comps! 3 houses in .3 of a mile away that sold in the laswt 3 months (3/3/3 rule). let the numbers tell you its a good deal. don't try to make the numbers look like a good deal!👍 Hope this helps! DM me on IG if you have more questions @SamFasterFreedom
@@FasterFreedom man thanks that does help 🙏 thanks unfortunately I don't have ig or social media like that just youtube but I would love to ask u some questions about this subject lol
@@FasterFreedom Question of the day if I do a cash out refinance and don’t pull all the money out does that therefore pay for the loan and I can take what’s left?
If you go through a private lender for your financing and he is the owner how do you count it as your rental property?
You own the property