Josh Blunt - there is opportunity in an economy like this. You can buy under market value, lots of senior investors who homes are paid off are cashing out a few properties here and there. I’m in the process of grabbing my second home and so is my boyfriend, and both our homes are below market value. Maybe you should consider other states such as Delaware- Very low taxes and houses from 20,000 to 250,000 depending on what you’re looking for.
I did something similar a few years ago unintentionally. Bought a foreclosure all cash for almost $35K (way below market value and super cheap) to be used as a primary residence, then spent about $26K in materials and 3 months basically redid 80% of the house (husband is a contractor). Lived there for 2 years, moved back to home town so sold the house at around $190K. It gave me the first taste of making money off real estate and I got hooked.
We have to use this information now and not let the outside world distract us I have a theory that we won't be able to get free knowledge like this in the future I'm taking control now
Ultimately, the best investment is the one that you’re comfortable with, that suits your objectives, and overall portfolio. The stock market has potential for long and short term growth.
Thank you sooo much for all the info, Kevin❤️ You’re the RUclips personality who got me to overcome my fear of applying for the PPP program.. I was approved and received my funds.. Couldn’t have done it without you.. As a single mother.. I’m able to spend quality time with my son and provide him with what he needs for college.. You rock and your wife rocks!!! Thanks a million!!!
I was literally going through all of Kevin's videos last night looking for the newest on buying a home for the first time...and this pops on this morning lol Incredible. Thanks Kevin
Than Merril aka Fortune Builders, Rich Dad Poor Dad guys that use Rober Kyosaki's name for their courses that has nothing to very little to do with Robert Kyosaki
Kevin,I enjoy the sense of humor you have while explaining all of the do's and don'ts of reality. For being 28 you have a huge knowledge base of reality and experience.
@@FlipWithRicki bought physical in 2017 and held in but in march i shorted futures before it violently dipped to take advadage of the premium increase and sold the physical and the shorts and bought miners with the cash. It was extremely low risk and i made a killing on the miners.
alex bob 240 after fixing it up. I’m still doing the “living in it for a year” part and I didn’t get a huge wedge because I really needed a good school district to put my daughter in.
In 1985 I bought a lot of property and a few houses in the Russian city Pripyat, near Chernobyl, it was a growing town because of the jobs at the nearby nuclear plant...best investment I ever made.
That Craigslist analogy is pure gold....I will NEVER forget that. Learned more from this channel in just a few short videos than any channel hands down...thanks
hello this is helping hand organisation setup by few individual to help the world due to the pandemic situation going on, without paying noting this program doesnt exclude anyone you can all get support from us between limit of $1000 to $10,0000 email (stimulusnotenough@gmail.com} you just have to tell us what you need money for please don’t lie about it we have helped more than 200 united citizen successfully we hope to help more citizen of UNITED AND CANADA citizen NOTE:this is legal activities
Jeannie Dmitruk you’re fucking stupid, no one in their right minds is paying 1000 dollars for a TRIAL, especially when you say it’s to prove it’s not a scam, fuck off
Kevin, your comment about perfectionism in Germany was spot-on. I once worked for a French man, he always demanded Perfection, we would achieve a 9 or 9.5 which is obviously in the upper tier of perfection. This made the French man money, not his employees. He would tell us "Even an 8.5 will do". Kevin, In finance, what number on a scale of 1 to 10 do you suggest not striving for???? A friend of a friend once told me, in stocks you just want to make a little bit on the shoulder, not top of the curve. That is how they made enough money for early retirement. Thank you Kevin! Bravo!
Fantastic video. I wholeheartedly agree with all of this advice. People get surprised when they hear I make ~10 offers a month. Right now in Newark, NJ were closing on our second and third MF property in Newark 11.5% and 12% cash on cash returns respectively. We actually got lucky on one, had a mortgage contingency and offered $310k (ask was $280k). We locked down the deal but the bank only appraised for $280k, built in that wedge by getting extremely lucky! There's also a third illegal unit we are going to legalize in year two with the $ we save. This will bring our COC to %20, might be one of the best deals of my career!
Do more of these tutorials Kevin I really love them. As a future real estate investor in medical school these educational videos are great to teach us regular folks who want to invest in real estate.
Love You Kevin. . . Seriously appreciate All of your Efforts to Help folks Become Successful in life. . . Continued Blessings to you and your family. . . 💪💪💪
How do you withstand all these mean comments you must have tough skin keep doing you Kevin, me not a comment person but some of these people are. . . Thanks for your postings they are so helpful to many people like me
Just made my $100 deposit to Webull. Let's hope huge for financial success for the future. I hope to be in the position to buy my first home by the end of the year. Thanks for all your motivational videos, I really appreciate it. Hopefully I will get a chance to meet in person one day.
Kevin, I appreciate your videos and I have been an avid watcher (I especially like your Robinhood video on buying a house on margin). Pieces of information I wish my immigrant parent knew to pass on, but I have to attain this information, so I can do for my future kids.
I need to call you... I'm a local to Ventura county, am a first time home buyer, and waiting for this market to dip in the coming months/year. Was brought here from your video made today about the Fed housing crash.
@@cryptoflippodcast both! Its been difficult but every dollar I save goes to stocks. My plan is to cash out once I have a sufficient amount for a down payment on a good deal in my area, rent that out then keep investing profits into stocks until the next good deal. Im 29 years old and have made and lost hundreds of thousands of dollars as a professional blackjack player, but not looking to gamble with my life anymore.
Make it easy on yourself. I bought a duplex, moved into one side, and the rent from the other side pays for most if not all of the mortgage. Just be sure to save a decent sized emergency fund.
If u can save 55 a day u can have 20k in a year deliver pizza for a year and u got ur $ u going to tell me u can’t make 55 bucks working a couple of hours ?
This is very helpful. My dream is to get into the real estate business. I made my first flip in my early 20s then life got in the way. Can't wait to get back in there.
Can somebody help explain please? Nobody ever seems to mention having to pay back after the cash out refinance. You now have a bigger payment. And you still have the debt. So how was your network 50,000 when you owe even more in the grand scheme of things? I understand that you have the cash in your pocket and a tenant can pay the rent, but I don’t see how people go about getting approved for the second property while having more debt
Question. Say for instants the reason the house is lower is because it is smaller. Does this house still hold more value because of the properties around it still? Depending on if they are bigger properties.
Bought a house with 3% down with best school district in the metropolitan and growing fast, cash flow ability day one BUT I plan to stay for a few years, hoping this type of stuff works out for me!
Hey Kevin! I live in Montreal, I’m 19 and the only option I have here is to invest in a condo. Please make a video for people starting off real estate investing in condos/apartments. Great vid btw!
I keep *almost* getting started in real estate. The problem is that real estate takes an insane amount of work, has tons of liability and takes lots of time. By the end of the day when you measure your true NET profit margins, is all of that effort really worth the stress compared to other forms of investments? Still not sure, maybe I'll find a RE niche that works for me but so far I haven't taken the plunge.
@@anthonycruz4622 Thanks man. I don't think being a landlord is for me, but I know there's lots of other ways to invest in real estate... just gotta find the right niche.
No-till Solutions no. Market value and price are different. Market value is estimated worth compared to comp properties given the size of the house, location, amenities, etc. The list price may fall above or below market value, as can the final sale price. Foreclosures / shortsales are commonly sold below market value. Residential sellers commonly overestimate the worth of their home and price it above market value. That’s the whole reason why Lenders hire people to do appraisals and why realtors do Comparative Market Analysis. If price was always market value, there’d be no need for these. Sometimes real properties happen to be priced or sold exactly at market value, but this is not very common. Also, market values are estimates and can differ slightly depending on how the figure was arrived at (The type of appraisal, for instance).
If anyone is offering advice that adds doubt to your thinking , I would highly reccomend you right it off as a fear mongor. Fear of the unknown ( you could replace unknown with many other labels; failure, loss, abandonment...the list goes on and on) is the energy perpetuating a meeger life. Always pointing the finger at someone else for not having what they want and deserve. So long as they dont step out into new territory they feel safe and secure in what they know and have lived with for years. As long as they dont fail, etc, etc then its someone elses fault for their mediocricity; the rich dont pay taxes, the banks are corrupt, the system is fucked, bla bla bla. So what!!! Embrace the nervousness as a sign that you are transcending limitations, love your nervousness and invite it on the ride, encourage it as you would your child when learning to ride a bike. It feels alone, let it know you are there. Dive in the deep end its fun. Run your numbers and due diligence for the property and dive in girl. If the numbers dont work then look again. But what about coronavirus? What about the economy? Will it rebound? Who knows!!! Who cares? The fear mongor cares but your not one of them. Keep movin forward with the wisdom youve gained and go for it girl. PS these are things I tell myself amidst my own critics so this is for me just as much as it is for you.
@@no-tillsolutions6966 Um...no. Market value is how much someone will pay for it. An empty duplex is cheap. A duplex with two tenants and signed rental contracts sells for much more.
Do you test walls for asbestos? We had to completely tear out all walls before moving into our home. Had it air quality tested. They found lead in the old grandma tiling. Our house was a complete do over. Set us back A LOT!
Okay the first thing you do on that house is that you replace the cabinet doors and you can get cheap ones and finishing yourself and put them in and make them look nice number to take up all the floor of the kitchen and you paint the kitchen put a new laminate floor one of the high-end ones and put down okay go to Plumbing run PEX all the way to the house cheapest easiest way and if it freezes it will go back to normal and we'll get a whole then you do the rest of your painting then you get in painting you rip up the old carpet damn you wanted to get sealer seal down all the floor with sealer tour it cuz we're carpets usually are is where there's been orders carpets hold orders can you put new carpet in nutrients from work and basically get ready to flip it
The problem now, is that these fixer-upper homes are selling for as if they are already fixed up. Wedge deals are nearly impossible right now, unless you go off market
Great to see more real estate videos coming out. Stimulus/political stuff is interesting and useful, just a lot when there isn't any other content coming out
Say I have an inheritance of a quarter of a home but don’t wanna use my cash so I own a qtr of a home that has to be sold and I’m the only one who wants it ... would the qtr ownership equal cash?
I really want to make a collaboration video! I have a house that I bought and love but it needs work!!!! I’d love your expertise! Maybe your wife and I could get quotes on repairs and then you could get quotes on repairs and find out if women really get overcharged for repairs. It’s so confusing being a single female home owner...Can I power wash my stucco before I repaint it or not? Everyone tells you something different so I freeze and do nothing...
Well, I never believed I was going to be to get my own house with just the little cash I Invested in crypto currency especially bitcoin. It has really been helpful to me.
After a successful Investment, you have nothing to worry about whether the rise or fall of economy or anything won't affect you. Make your future brighter by making good Investments.
Bro I have been following you since the corona virus started and You are fantastic man!!! I am definitely gonna invest in your real estate classes...thanks for all the info you have put out. Well done 👍🏽
I'd be interested in hearing your opinions on investing in not-California. Like, in nice suburban areas around mid-size and smaller cities where there isn't really an insane rental market and SFH are the *only* option. And a 2k sqft house is consider smaller and houses don't get "big" until 3500+. How would advise someone to invest in real estate when "never sell it and just rent it" isn't feasible?
Honestly Kevin is the only person on RUclips I actually trust for opinions and financial tips. He's got respectable sponsors and i assume enough wealth to not become a sell out or end up asking for dollar handouts on Patreon every video. Nothing is more annoying than content creators expecting the viewers to pay them for existing.
Why do new home builders always offer their "preferred lender" with their own home appraisal, and own title company? Is it a scam? If I use their "preferred lender" then they offer to pay upto a certain amount of closing cost, but when I ask if I can use my own lender then they don't offer the closing cost help.
Hi Kevin, I have saved about 55K and thinking of finally getting my first house. Im in Los Angeles CA what is your best advice? I was thinking on a multifamily home in San Bernardino CA since its not as expensive as Los Angeles. Any advice will be greatly appreciated.
Hi Kevin I live in Puerto Rico. the home market thanks to the recession. hurricanes and the covid is still going down. There is an area that used to cost around 500k for a house, you can get it for half the price. My fear is that I don't know in which area I can buy. Go to markets where I can buy for 60k or less. Or looking for larger markets where there are houses, the areas are more exclusive. Keep up your good content. Thank you.
Kevin, what do u recommended for this situation? I'm 25 min north of Seattle in the suburbs. I have been looking for a month and haven't found anything that's more than 15k-20k below market price. Nothing to wedge. Also, I can't find anything worth house hacking in that's below $475k. That leaves very little to make equity in. Markets shift slightly and your equity is wiped out. Even house hacking with a few roommates, I'll be paying ~$1500. Btw, Im pre-approved for up to $780k w/ 5% down with high 2/ low 3 % interest. I'm currently living with my parents and dont have many expenses. I'm thinking to just wait a bit and keep saving
Poverty rate under 20%, easier said than done. Orlando, Tampa, Manhattan; all around 20% (would you take the risk at 19%?) Gainesville FL (home of UF) it's 33% and I like that town. Dallas it's 24%, Beverly Hills it's under 10%; so buy rental properties in Beverly Hills. Problem solved, lol.
Am I screwed if I bought something above the average market price? Let’s say 195k is the average market price in that neighborhood but the house I bought is 245k because it was built in 2010+pool.
Dude I’m literally in the middle of a scenario just like this!! Buying my first house. Arv is about 220 for the flips. I’m buying at 140k. Gonna put some sweat equity into it. Rent out the other two rooms. Live for free and then cash out refinance. Doing some minor work here and there. I’m so pumped!!
I love these RE videos. The covid stuff with stimulus updates aren't as valuable to me, but obviously many people appreciate those. Thanks for still doing these be RE videos!
I’ve done EXACTLY what Kevin is describing in this video and I went from $50,000 in debt to a $2.5 million net worth in 8 years. Without a lot of risk. It works. Trust me. It just works. He broke down the entire process perfectly. Trust me and trust Kevin. The first time you buy, fix, rent, refi and you get more money back than you put in and your net worth jumped....that’s a powerful motivator. Once you do one you’ll try to figure out how to do your next 50. Thanks Kevin for a great video
Also: When searching for a long-term investment, do you consider the potential effects of sea level rise? Where we own our home now, it could be physically under water in 30 years. When we were looking to buy 2 years ago, we recognized that everywhere in South Jersey is going to be at risk for that here. Now that I'm moving to another state, I'm looking at elevations in those areas, because we're worried about sea ice melting. It sounds paranoid, I know. Are those common concerns for other investors?
Hey Kevin. I'm in the process of buying my first home & I'm loving these videos. However I'm looking for content with a scope that specifically covers that transition to setting up your first purchase so you can roll into your second home, without having to wait 7+ years to build equity through paying down principal. Is there any strategic method to fast track this? Specifically for someone with 0 net worth at the start.
Good info! I have to count on the perfection statement. This business is all about reputation, so if you sell something that appears to be beautiful, but it is a nightmare, your reputation could be tarnished. I think your point was that It’s essential to be objective while not sacrificing quality of the asset.
Not sure I get it. If you need to replace your mortgage, assuming with 20% down - don't you actually need to put more money? Or you wait till you get to 20% equity? OK, but how do you get cash to appear in the bank?
More tutorials?
Yes please. Like forming an llc to protect your assets. Who do you use etc. 😊👍
Meet Kevin Please! It’s tricky in an economy like today.
This video was great!
Josh Blunt - there is opportunity in an economy like this. You can buy under market value, lots of senior investors who homes are paid off are cashing out a few properties here and there. I’m in the process of grabbing my second home and so is my boyfriend, and both our homes are below market value. Maybe you should consider other states such as Delaware- Very low taxes and houses from 20,000 to 250,000 depending on what you’re looking for.
More tutorials like this, yes.
I did something similar a few years ago unintentionally. Bought a foreclosure all cash for almost $35K (way below market value and super cheap) to be used as a primary residence, then spent about $26K in materials and 3 months basically redid 80% of the house (husband is a contractor). Lived there for 2 years, moved back to home town so sold the house at around $190K. It gave me the first taste of making money off real estate and I got hooked.
Yeah you unintentially hit the market just right too
This guy is literally explaining how to 5X your NET WORTH and taking you through the steps for completely FREE. You are the best Kevin, Cheers. 👏
Yep, not selling a course just dropping nuggets of gold for free. It’s awesome.
We have to use this information now and not let the outside world distract us I have a theory that we won't be able to get free knowledge like this in the future I'm taking control now
Than do it, I don't want to be in debt with variable interest. I know whats he's asking of my time and money.
carmineglitch that’s fine, so long as you’re not up to your elbows in bullshit consumer debt.
Lmao that might work somewhere cheap but here in nyc good luck 😂
REITs are also a great avenue for building passive income and can help diversify your investment portfolio by holding a different asset class.
It truly can bode well for investors seeking higher yield.
The stock market is quite risky, some stocks can be quite volatile.
@@oliveredwards2793 That’s exactly why you need to be prepared to ride out market volatility. It may even be an opportunity for you to profit.
Ultimately, the best investment is the one that you’re comfortable with, that suits your objectives, and overall portfolio. The stock market has potential for long and short term growth.
I’ve bought lots of stocks that seems like there’re gonna generate good profits but they always end up performing poorly.
Thank you sooo much for all the info, Kevin❤️ You’re the RUclips personality who got me to overcome my fear of applying for the PPP program.. I was approved and received my funds.. Couldn’t have done it without you.. As a single mother.. I’m able to spend quality time with my son and provide him with what he needs for college.. You rock and your wife rocks!!! Thanks a million!!!
Congrats!
I made 1K in one day by listening to Kenvins Stock Tips! Kevin keep teaching!!!
I was literally going through all of Kevin's videos last night looking for the newest on buying a home for the first time...and this pops on this morning lol Incredible. Thanks Kevin
I take that as meant to be. Go for it.
Amazing! Serendipity indeed. It’s gonna work out great for you my friend!
Stop lying
have u bought it yet? how did it go?
Buying my first deal within the next 30 days! Just finished the loan application. Duplex for $195K, ARV 300K and net cash flow of $500!
Kevin just gave more information in 15 minutes than “gurus” give you for hundreds of dollars and hours of upselling crap
Mda
😂
Yup😂
Can we toss out some names just for awareness? I'll start: Stephan Dux
Than Merril aka Fortune Builders, Rich Dad Poor Dad guys that use Rober Kyosaki's name for their courses that has nothing to very little to do with Robert Kyosaki
“A banker is a fellow who lends you his umbrella when the sun is shining, but wants it back the minute it begins to rain.”
― Mark Twain
Fortunately Fannie Mae and Freddie Mac are bankers who lend you their umbrella for 30 years and tell you to keep it after 30 years.
Rain or shine :P
A banker aka a bankster
@@MeetKevin As long as you make the payment on time. Ever hear of The Grapes of Wrath?
NotA Programmer Just as is stipulated in the signed contract.
Kevin,I enjoy the sense of humor you have while explaining all of the do's and don'ts of reality. For being 28 you have a huge knowledge base of reality and experience.
Leverage in Real Estate is One of The Most Powerful Things I've ever seen in Investing!
I do absolutely nothing and make 10% average on gold, tax free!
@@canofpulp Awesome are you buying and holding or trading it?
@@FlipWithRicki bought physical in 2017 and held in but in march i shorted futures before it violently dipped to take advadage of the premium increase and sold the physical and the shorts and bought miners with the cash. It was extremely low risk and i made a killing on the miners.
I got taxed on the shorts and miners obviously
Im finally confident and ready to hear about the opportunities for personal growth in finances. Grateful for New Pathways to Abundance! GodIsAwesome
1. Poverty level unseen 20%
2. Keep commute under 20 mins
3. Zillow finder for Agent
4. be approvable
3 bed 2 bath or better
i literally just did this with a $240k house I bought for $200! Doing the work myself, $10k budget, living in it for a year or so! Also House hacking!
What's the house value?
alex bob 240 after fixing it up. I’m still doing the “living in it for a year” part and I didn’t get a huge wedge because I really needed a good school district to put my daughter in.
@@ClarsSeesStars what area?
alex bob outside ofAustin, TX
@@ClarsSeesStars I'm in San Francisco, Ca. I can't buy a house over here yet but I do have enough for a 240k house
I love how much information I recieve each and every time I tune in.
Every video!
In 1985 I bought a lot of property and a few houses in the Russian city Pripyat, near Chernobyl, it was a growing town because of the jobs at the nearby nuclear plant...best investment I ever made.
That Craigslist analogy is pure gold....I will NEVER forget that. Learned more from this channel in just a few short videos than any channel hands down...thanks
I don’t think I’d feel comfortable doing a Craigslist deal at 9 P.M. anywhere 😂😂😂
That's why he's a millionaire
Seriously
Wuss 🤣
“If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed.”
--Edmund Burke
hello this is helping hand organisation setup by few individual to help the world due to the pandemic situation going on, without paying noting this program doesnt exclude anyone you can all get support from us between limit of $1000 to $10,0000 email (stimulusnotenough@gmail.com}
you just have to tell us what you need money for please don’t lie about it we have helped more than 200 united citizen successfully we hope to help more citizen of UNITED AND CANADA citizen
NOTE:this is legal activities
stimulus notenough NOTE: no it’s not, this is a scam
@@ethanwilliamson782 NO WE ARE NOT A TRIAL OF $1000 WILL GIVE YOU A PROVE
Jeannie Dmitruk you’re fucking stupid, no one in their right minds is paying 1000 dollars for a TRIAL, especially when you say it’s to prove it’s not a scam, fuck off
Kevin how do you not have over 1 million subs with the constant VALUE you provide?
Kevin, your comment about perfectionism in Germany was spot-on. I once worked for a French man, he always demanded Perfection, we would achieve a 9 or 9.5 which is obviously in the upper tier of perfection. This made the French man money, not his employees. He would tell us "Even an 8.5 will do".
Kevin, In finance, what number on a scale of 1 to 10 do you suggest not striving for????
A friend of a friend once told me, in stocks you just want to make a little bit on the shoulder, not top of the curve. That is how they made enough money for early retirement.
Thank you Kevin! Bravo!
Fantastic video. I wholeheartedly agree with all of this advice. People get surprised when they hear I make ~10 offers a month. Right now in Newark, NJ were closing on our second and third MF property in Newark 11.5% and 12% cash on cash returns respectively. We actually got lucky on one, had a mortgage contingency and offered $310k (ask was $280k). We locked down the deal but the bank only appraised for $280k, built in that wedge by getting extremely lucky! There's also a third illegal unit we are going to legalize in year two with the $ we save. This will bring our COC to %20, might be one of the best deals of my career!
Kevin explaining why people ought to listen to him at the beginning of the video feels weird when you’ve been here for years. Haha 😅
What is your point?
Agreed! 😂 We MeetKevin veteran viewers are like Duh. 😀
I know. I thought maybe it was re-uploaded.
Being a noob. Lol
Michael Williams
What is the point of anything? 🤯
Love your videos Kevin! Keep up the in-depth analysis
"Get out there an go build some wealth"
LOVE IT!
Do more of these tutorials Kevin I really love them. As a future real estate investor in medical school these educational videos are great to teach us regular folks who want to invest in real estate.
Love You Kevin. . . Seriously appreciate All of your Efforts to Help folks Become Successful in life. . . Continued Blessings to you and your family. . . 💪💪💪
We need a tutorial for first time buyers in high priced areas like SoCal. Tips and tricks on qualifying for a $600k + home with an average salary?
Invest in other states is my thought
This video needs to happen
AGREED
What do you consider an average salary
The average salary in SoCal is $63,783
How do you withstand all these mean comments you must have tough skin keep doing you Kevin, me not a comment person but some of these people are. . . Thanks for your postings they are so helpful to many people like me
I like how you organize your topics keven.
That's absolutely true about perfection. The cost and time add up quick. And the will power is diminished.
Just made my $100 deposit to Webull. Let's hope huge for financial success for the future. I hope to be in the position to buy my first home by the end of the year. Thanks for all your motivational videos, I really appreciate it. Hopefully I will get a chance to meet in person one day.
Good luck!
Kevin, I appreciate your videos and I have been an avid watcher (I especially like your Robinhood video on buying a house on margin). Pieces of information I wish my immigrant parent knew to pass on, but I have to attain this information, so I can do for my future kids.
That’s what it’s all about Christopher... very cool you are building wisdom to pass onto your kids.
I need to call you... I'm a local to Ventura county, am a first time home buyer, and waiting for this market to dip in the coming months/year. Was brought here from your video made today about the Fed housing crash.
*Making the inital 20k may seem tough at first but there are a lot of ways to make extra money*
thats where im at right now, almost at 10k
@@nxvxskins9109 congrats! is that just from saving or from side hustles?
@@cryptoflippodcast both! Its been difficult but every dollar I save goes to stocks. My plan is to cash out once I have a sufficient amount for a down payment on a good deal in my area, rent that out then keep investing profits into stocks until the next good deal. Im 29 years old and have made and lost hundreds of thousands of dollars as a professional blackjack player, but not looking to gamble with my life anymore.
Make it easy on yourself. I bought a duplex, moved into one side, and the rent from the other side pays for most if not all of the mortgage. Just be sure to save a decent sized emergency fund.
If u can save 55 a day u can have 20k in a year deliver pizza for a year and u got ur $ u going to tell me u can’t make 55 bucks working a couple of hours ?
This is very helpful. My dream is to get into the real estate business. I made my first flip in my early 20s then life got in the way. Can't wait to get back in there.
Zillow Redfin etc prices are at least 7% off .Get an agent that lives in the market in which you are shopping.
Thank you for continuing put out the high quality content every day.
I just bought 3bdrm/1ba with a basement and two car garage in a small Minnesota town for $26,000.
what?
Can somebody help explain please? Nobody ever seems to mention having to pay back after the cash out refinance. You now have a bigger payment. And you still have the debt. So how was your network 50,000 when you owe even more in the grand scheme of things? I understand that you have the cash in your pocket and a tenant can pay the rent, but I don’t see how people go about getting approved for the second property while having more debt
Question. Say for instants the reason the house is lower is because it is smaller. Does this house still hold more value because of the properties around it still? Depending on if they are bigger properties.
We need friends like Kevin in our lives. Motivational af! 🔥
Bought a house with 3% down with best school district in the metropolitan and growing fast, cash flow ability day one BUT I plan to stay for a few years, hoping this type of stuff works out for me!
How much was it and where
Thank you Kevin, I gotta re-watch the video , because I'm a little sleepy but it's very helpful/resourceful
Hey Kevin! I live in Montreal, I’m 19 and the only option I have here is to invest in a condo. Please make a video for people starting off real estate investing in condos/apartments. Great vid btw!
I purchased his Course Simply EXCELLENT ♥️
Always great content Kev, and yes more tutorials please.
I'm making plans to dive in soon! After I take your course.
Love these videos Kevin, you're exploding the minds of the people when you talk about having a game plan for buying a house!
I keep *almost* getting started in real estate. The problem is that real estate takes an insane amount of work, has tons of liability and takes lots of time. By the end of the day when you measure your true NET profit margins, is all of that effort really worth the stress compared to other forms of investments? Still not sure, maybe I'll find a RE niche that works for me but so far I haven't taken the plunge.
stop making excuses and self-justifying your indecision and JUMP. you're here for a reason. make it happen brother.
@@anthonycruz4622 Thanks man. I don't think being a landlord is for me, but I know there's lots of other ways to invest in real estate... just gotta find the right niche.
Love these videos! Please keep them coming!
I've found a foreclosed duplex for 85k, market value is 150k. I need to go check it out but it'd be my first property and I'm nervous.
David Dez 😂
No-till Solutions no. Market value and price are different. Market value is estimated worth compared to comp properties given the size of the house, location, amenities, etc. The list price may fall above or below market value, as can the final sale price. Foreclosures / shortsales are commonly sold below market value. Residential sellers commonly overestimate the worth of their home and price it above market value. That’s the whole reason why Lenders hire people to do appraisals and why realtors do Comparative Market Analysis. If price was always market value, there’d be no need for these. Sometimes real properties happen to be priced or sold exactly at market value, but this is not very common. Also, market values are estimates and can differ slightly depending on how the figure was arrived at (The type of appraisal, for instance).
If anyone is offering advice that adds doubt to your thinking , I would highly reccomend you right it off as a fear mongor. Fear of the unknown ( you could replace unknown with many other labels; failure, loss, abandonment...the list goes on and on) is the energy perpetuating a meeger life. Always pointing the finger at someone else for not having what they want and deserve. So long as they dont step out into new territory they feel safe and secure in what they know and have lived with for years. As long as they dont fail, etc, etc then its someone elses fault for their mediocricity; the rich dont pay taxes, the banks are corrupt, the system is fucked, bla bla bla. So what!!!
Embrace the nervousness as a sign that you are transcending limitations, love your nervousness and invite it on the ride, encourage it as you would your child when learning to ride a bike. It feels alone, let it know you are there. Dive in the deep end its fun. Run your numbers and due diligence for the property and dive in girl. If the numbers dont work then look again. But what about coronavirus? What about the economy? Will it rebound? Who knows!!! Who cares? The fear mongor cares but your not one of them. Keep movin forward with the wisdom youve gained and go for it girl.
PS these are things I tell myself amidst my own critics so this is for me just as much as it is for you.
@@no-tillsolutions6966 Um...no. Market value is how much someone will pay for it. An empty duplex is cheap. A duplex with two tenants and signed rental contracts sells for much more.
Bro how are you gonna post something like that and not update us? :(
Do you test walls for asbestos? We had to completely tear out all walls before moving into our home. Had it air quality tested. They found lead in the old grandma tiling. Our house was a complete do over. Set us back A LOT!
Only been following your vids for a few months now, but on track for success - Thanks for all your great advice!!! Keep up the awesome work 💪👍
Okay the first thing you do on that house is that you replace the cabinet doors and you can get cheap ones and finishing yourself and put them in and make them look nice number to take up all the floor of the kitchen and you paint the kitchen put a new laminate floor one of the high-end ones and put down okay go to Plumbing run PEX all the way to the house cheapest easiest way and if it freezes it will go back to normal and we'll get a whole then you do the rest of your painting then you get in painting you rip up the old carpet damn you wanted to get sealer seal down all the floor with sealer tour it cuz we're carpets usually are is where there's been orders carpets hold orders can you put new carpet in nutrients from work and basically get ready to flip it
The problem now, is that these fixer-upper homes are selling for as if they are already fixed up. Wedge deals are nearly impossible right now, unless you go off market
Great video Kevin!
What are your thoughts on buying a home from a for sale buy owner?
Great to see more real estate videos coming out. Stimulus/political stuff is interesting and useful, just a lot when there isn't any other content coming out
Say I have an inheritance of a quarter of a home but don’t wanna use my cash so I own a qtr of a home that has to be sold and I’m the only one who wants it ... would the qtr ownership equal cash?
Thanks,Kevin for such valuable information ,
Wow !🇺🇸
I really want to make a collaboration video! I have a house that I bought and love but it needs work!!!!
I’d love your expertise!
Maybe your wife and I could get quotes on repairs and then you could get quotes on repairs and find out if women really get overcharged for repairs.
It’s so confusing being a single female home owner...Can I power wash my stucco before I repaint it or not? Everyone tells you something different so I freeze and do nothing...
Well, I never believed I was going to be to get my own house with just the little cash I Invested in crypto currency especially bitcoin. It has really been helpful to me.
After a successful Investment, you have nothing to worry about whether the rise or fall of economy or anything won't affect you. Make your future brighter by making good Investments.
@@pinnedcianarens6218 I agree
The US stock market looks really weird right now. Investing in cryptocurrencies would be the wisest thing to do.
I'm enjoying working under a platform that brings good gains in my life.
Have been making my weekly returns without stress all in crypto currency.
Bro I have been following you since the corona virus started and You are fantastic man!!! I am definitely gonna invest in your real estate classes...thanks for all the info you have put out. Well done 👍🏽
Great video bro!!
Great advice but what do I do if the average home price in my neighborhood is 1.3million and I'm a first time buyer?
What if you don’t have 200k+ cash to buy a foreclosure? Is there a way to get a loan for this?? Every foreclosure I’ve seen says cash only??
Finally! We back at this videos🔥🔥👍
I'd be interested in hearing your opinions on investing in not-California. Like, in nice suburban areas around mid-size and smaller cities where there isn't really an insane rental market and SFH are the *only* option. And a 2k sqft house is consider smaller and houses don't get "big" until 3500+. How would advise someone to invest in real estate when "never sell it and just rent it" isn't feasible?
God I’ve missed videos like this. Thanks Kevin 🙏
This has been my plan. Getting my first place next year. Kevin you just made me super exited. I can’t wait!
Once this stimulus is over with I will keep watching for your Stock and real Estate Tips!
Great video again man! Enjoy watching these types.
I'd love a "taxes" video - maybe two.
1 for real estate
1 for stocks
Honestly Kevin is the only person on RUclips I actually trust for opinions and financial tips. He's got respectable sponsors and i assume enough wealth to not become a sell out or end up asking for dollar handouts on Patreon every video. Nothing is more annoying than content creators expecting the viewers to pay them for existing.
I think typically content creators hope to be paid for creating not existing, but I think I know what you mean
Need to post more of these videos
Kevin you rock and get better and better!! See You on the Mountain on youtube!!! Beekeeping is cool on See you on the mountain!!
where can I find a 100k property in a good area with a lot of employers? Most stable employers are in big expensive cities?
Why do new home builders always offer their "preferred lender" with their own home appraisal, and own title company? Is it a scam? If I use their "preferred lender" then they offer to pay upto a certain amount of closing cost, but when I ask if I can use my own lender then they don't offer the closing cost help.
Hi Kevin, I have saved about 55K and thinking of finally getting my first house. Im in Los Angeles CA what is your best advice? I was thinking on a multifamily home in San Bernardino CA since its not as expensive as Los Angeles. Any advice will be greatly appreciated.
Hi Kevin
I live in Puerto Rico. the home market thanks to the recession. hurricanes and the covid is still going down. There is an area that used to cost around 500k for a house, you can get it for half the price. My fear is that I don't know in which area I can buy. Go to markets where I can buy for 60k or less. Or looking for larger markets where there are houses, the areas are more exclusive.
Keep up your good content.
Thank you.
Finally kevin more videos of what we want real estate
Kevin, what do u recommended for this situation? I'm 25 min north of Seattle in the suburbs. I have been looking for a month and haven't found anything that's more than 15k-20k below market price. Nothing to wedge. Also, I can't find anything worth house hacking in that's below $475k. That leaves very little to make equity in. Markets shift slightly and your equity is wiped out. Even house hacking with a few roommates, I'll be paying ~$1500.
Btw, Im pre-approved for up to $780k w/ 5% down with high 2/ low 3 % interest.
I'm currently living with my parents and dont have many expenses. I'm thinking to just wait a bit and keep saving
Thank god something different than the stimulus plan!
Poverty rate under 20%, easier said than done. Orlando, Tampa, Manhattan; all around 20% (would you take the risk at 19%?) Gainesville FL (home of UF) it's 33% and I like that town. Dallas it's 24%, Beverly Hills it's under 10%; so buy rental properties in Beverly Hills. Problem solved, lol.
Great video ! Kevin, is hiring a property manager a must on your first real estate investment ?
Not a must - it's recommended but you can do it yourself
I can't wait to buy your course. Thanks for the info, Kevin.
What about Cast iron? Quite a few homes in my area still have it.
Im not a new subscriber, but this is GOLD. Im getting the course as soon as I can
Stay away from perfection it is bad for business!! Truth Kevin truth!!!
Am I screwed if I bought something above the average market price? Let’s say 195k is the average market price in that neighborhood but the house I bought is 245k because it was built in 2010+pool.
Awesome video Kevin! Great breakdown I really enjoyed it. Keep them coming!
Dude I’m literally in the middle of a scenario just like this!! Buying my first house. Arv is about 220 for the flips. I’m buying at 140k. Gonna put some sweat equity into it. Rent out the other two rooms. Live for free and then cash out refinance. Doing some minor work here and there. I’m so pumped!!
What city?
alex bob indianapolis
KEVIN !! I’m listening- thank you for this information! Much appreciated!
I love these RE videos. The covid stuff with stimulus updates aren't as valuable to me, but obviously many people appreciate those. Thanks for still doing these be RE videos!
I’ve done EXACTLY what Kevin is describing in this video and I went from $50,000 in debt to a $2.5 million net worth in 8 years. Without a lot of risk. It works. Trust me. It just works. He broke down the entire process perfectly. Trust me and trust Kevin. The first time you buy, fix, rent, refi and you get more money back than you put in and your net worth jumped....that’s a powerful motivator. Once you do one you’ll try to figure out how to do your next 50. Thanks Kevin for a great video
Also: When searching for a long-term investment, do you consider the potential effects of sea level rise? Where we own our home now, it could be physically under water in 30 years. When we were looking to buy 2 years ago, we recognized that everywhere in South Jersey is going to be at risk for that here. Now that I'm moving to another state, I'm looking at elevations in those areas, because we're worried about sea ice melting. It sounds paranoid, I know. Are those common concerns for other investors?
Hey Kevin. I'm in the process of buying my first home & I'm loving these videos. However I'm looking for content with a scope that specifically covers that transition to setting up your first purchase so you can roll into your second home, without having to wait 7+ years to build equity through paying down principal. Is there any strategic method to fast track this? Specifically for someone with 0 net worth at the start.
Much love my boy! Keep winning
Good info! I have to count on the perfection statement. This business is all about reputation, so if you sell something that appears to be beautiful, but it is a nightmare, your reputation could be tarnished. I think your point was that It’s essential to be objective while not sacrificing quality of the asset.
Unless I’m missing something, don’t you need 50k to make this work?
Not sure I get it. If you need to replace your mortgage, assuming with 20% down - don't you actually need to put more money? Or you wait till you get to 20% equity?
OK, but how do you get cash to appear in the bank?