What if you already have a primary residence but purchasing the rental property fo investment. Is the 25% a requirement? And what other advice do you have. I’m in San Antonio, Texas

Banger!

one of the best video, i've seen! Thank you!

@Vizzy.787

Жыл бұрын

Gear 5 solos the entire verse + dragon ball is mid

So what if we don’t have no capital and don’t want to wait and save would having a private lender cover your down payment and whatever they charge when it come to paying them back would be distributed from what the property is generating?

Can we use this strategy to build a 4 plex ? Because Multifamily duplexes are hard to find today

Chandler is the 🐐

You were very resourceful as a kid, good man. Fact that you’re a millionaire at 31, is amazing.

Awesome video.

Great video as always

Awesome 👌!

I feel like rental properties are very easy to get into for the average working joe. In my town anyway, the cheapest properties have the fastest ROI because there is more demand for low cost rentals than what’s available. First home can be a $70k, 2000sqft duplex you rent for $700-$900/mo and also live in with an FHA loan. Very doable.

@thegrind5273

Жыл бұрын

That is very interesting. May I ask what state this is in? Where I live n the surrounding states are all 300-600K

@macintoshimann9892

Жыл бұрын

@@thegrind5273 that’s in Northwest PA, about 120 miles north or Pittsburgh. The market in Pittsburgh is awesome right now, really worth a look. Surrounding cities all have a lot to offer as well. Lots of properties ready to go at 200k. Looks like a really great place to get started

@thegrind5273

Жыл бұрын

@@macintoshimann9892 thank you brotha, i appreciate it very much 🙏🤘I will definitely look into this.

So I live in the house for like a year? Then after that then list it and try to find a tenant?

You’re the best!

I know that you said that you may trade in your electric Porsche. What do you think about the lucid air electric vehicles?

@user-qg6pv5ru1q

2 жыл бұрын

👆Need help improving your credit score ? make a note 📝 asap ☝️..

I’m looking through the descriptions for the ultimate discount code for your course ☺️ I’m so committed

@user-qg6pv5ru1q

2 жыл бұрын

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If I get an FHA loan, would I be less likely to get a property since they would know it’d be my first property?

Great video

Do you know who bought that 120-140 (can’t remember the numbers) in rexburg by byu?

Hi Chandler. What if we want to purchase commercial real estate properties? Usually they require 25% down payment

Another amazing video thank you bro.... all the way from Maryland 👍

If you own a home and are looking for an investment property what is the best process? I would like to have an investment property in addition to owning my current home.

@Liz514

2 жыл бұрын

Have you figured out how to do this yet?

Let’s go! When are you going to start a brokerage of some kind?! You gotta! 🙏

@user-qg6pv5ru1q

2 жыл бұрын

👆Need help improving your credit score ? make a note 📝 asap ☝️..

Chandler, your big fish, small fish story and example is spot on, brother!! Dave Ramsey has his place in finance, but not in real estate.

So if I want to buy my first property but im in an expensive area should i just drop everything and move to another state where homes are 100,000 so ican get the 3.5% or 5%??

@ChandlerDavidSmith

2 жыл бұрын

You can put 3.5% from an FHA or 5% from a conventional loan anywhere. I used $100k because its simple to adjust & calculate what it will look like in your market. While there may be a few markets around or even below this, most markets will be several times this number.

@KeenanYosh

2 жыл бұрын

@@ChandlerDavidSmith Thanks so much for this info you’re the man!

I like the ski story.

Freeking James! Great video.

Thank you god bless you for the inf

Hi Chandler I’m a 26 year old with 500k in cash. I’m have 0 knowledge about real estate. Are there any way I can get in touch with you ? Or a course one on one. Thank you

As far as I know you can purchase first property with 3% down as your primary residence. The rest considered to be investment, therefore 20-30% down payment. Correct me if I'm wrong. Or you just keep saying to the bank next property will be my primary residence? :)

By reserves what do you mean ?

What about buying a second property for rental?

Thank you for being honest about having reserves.

What about money to fix some things in the house?

yeah those numbers don't compute here in Hawaii. Thanks for the informative video though

Im in California so this example will never work. 100k? More like 500k for a flip rental at best. Please do a video with real numbers. Thanks 👍🏼

Qualifying for primary home benefits are a big advantage.

I'm 18 years old lives in a small town I have 20k saved and I can easily find a 100k home should I start purchasing so early? Or should I wait I need help this is the career I want to pursue

Can you touch on VA home loans for a four Plex

When you say you own 30m in real estate do you mean you have 30m in equity or just control properties with a worth of 30m?

bro i thought i got an offer up notification 😂 but it was just a sounds effect in the video

I heard somewhere that you could use fha more then once

How can I get into my 2nd retail property if I can’t use another FHA?

@kenwalton80

Жыл бұрын

Conventional bank loan 10%-20% down or unconventional seller financing

How do they know your living there ? Say u put all the bills in your name an rent it out ?

i thought you can only get FHA loans for property that you will live at

Great video thanks man !

I'm in Los Angeles where the market is crazy. So a 4-plex here seems so out of reach. I really appreciate your insight on real estate. It's very motivating.

I didn't think you can buy a rental with FHA?

Should buy first property with an LLC?

How long do you live in your newly purchased property?

You should make daily routine video of what you do daily to be successful

They keep telling me I cant do an FHA because it wont be my primary residence. It can only be 20% for investment properties.

well I figure there is no better time than now. I don't make much. less than 40k a year. in my state, and regional area I don't see hardly anything available that I could buy. Going out east, however, there is stuff to buy. If I need to, i'll travel across the US and live there for a few years to get myself in a better financial situation

thanks for making these amazing videos and helping me become financial educated

One other scenario I have is this, i have 70k in cash, but dont want to live in the 4-plex. I guess i would have to do 20 or 25% down on a investment property. I also have 20% equity in my primary home as well. What would you do in that scenario? Buy a cheaper home around a college town and rent out by room?

@magiccheeseball

2 жыл бұрын

That's a good way to do it

@brewdog8568

2 жыл бұрын

We are selling our home to jump start our rentals business and just renting its cheaper and just one bill now extra work for us so we can focus on fixing up homes to rent.

If did fha loan don't I have to live in it?

@ChandlerDavidSmith

2 жыл бұрын

Yes, which is why you should buy a property with 2-4 units

@rubenlopez7076

2 жыл бұрын

@@ChandlerDavidSmith thank you for response. I've been able to save 100k over last 2 years and got my credit score up. No debt atm. Just looking for a place now to invest into and start. Would like to be able to quit my day job in 5 years. Lofty goals i know.

Hey man. This was a great video, however, I wanted to point out a few things that are going to mislead people. 1.) if this is strictly an investment property, that is not going to be occupied by the borrower, you need 15-20% down depending on the lender. 2.) For non-investment property first-time homebuyers, conventional loans are actually a minimum of 3% down. FHA is great but they have set mortgage insurance and it is for the life of the loan until you refinance into a conventional loan. Conventional loans with borrowers having excellent credit (760) the mortgage insurance would be significantly cheaper than FHA and will automatically drop off once 20% equity is made. You can actually petition to remove your MI after a couple years. Hope this helps and grind my friend!

@charlesg7926

2 жыл бұрын

He literally says all that in the video lmao

@lifeforgod07

2 жыл бұрын

For multifamilies, most areas actually require 25% down as an investment loan. It depends on where you live and your lender but 25% is the standard for brokers

@lifeforgod07

2 жыл бұрын

@Lance Mulett duplexes are triplexes on my area are minimum 25% down. I think for single family it can be 15 or 20%

@Ty_OTM

2 жыл бұрын

Any one can give me more information on getting my first property

@lifeforgod07

2 жыл бұрын

@@Ty_OTM Watch some owner occupied "House Hack" videos to get you started. Check out "One Rental at a Time" or "Todd Baldwin"

So keep hearing how people should buy multi-family homes as their first unit. I stay in sc by the ocean. Real estate out here is crazy expensive. People who make these types of videos make it seem like it's a no brainier and everyone should be doing this. Can you make a video using my area as an example? Because I can't find a unit that will cash flow how you explained.

The issue is that I can only get a 3 bedroom condo for 400k in my area there is absolutely no a multi unit property in that range.

@lawrencekdog6243

2 жыл бұрын

Here in Phoenix there almost no homes below 300k---they are more like 400 plus, and multifamily forget about them. I dont understand how anyone can invest in this ridiculous market that absolutely needs to correct by at least 50%.

@theAppleWizz

2 жыл бұрын

@@lawrencekdog6243 people are buying with cash not shit loan so this is not a 2008

I live in a super high cost area so there’s no way to do a house hack here in the traditional sense. I have a mortgage on a 2 BR; I have a roommate who pays half, I pay the other half. My goal is to get either a STR (preferably) or LTR in a cheaper town a few hours away. What would the downpayment be for that?

Would it be smart to build ADU in California to have more units?

Why didn’t I think of doing that at Kelly canyon 😂

Great content 👍👍 as usual

How did you estimate the Mortgage to be $400/month?

Do you think the market will crash anytime soon?

@lawrencekdog6243

2 жыл бұрын

No one can accurately predict this, I remember in 2005 no one saw it coming, then in 2006 the slowdown started and then boom. In fact the more the person relies on the industry going up, think realtors, the more they are blind to the obvious b.s. valuations, just like today.

I recently started buying gpus for mining crypto. Ethereum to be exact. I have made 2 eth and I’m going to hold that till the end of the year. It will be 4x by that time and I would easily break even and be making profit after 3 more months. I’m buying with loans that last 5 years lol. I can’t wait to profit from it. With profits I’m going to get into real estate.

Hey chandler, I’m in the Dayton Ohio area and looking to invest. There are tons of cheap properties that have great cash on cash returns (20%to40%). But a lot of them are in very rough areas of the city. Would you still invest in these properties?

3.5%? How on earth are you going to get cashflow going with such a small down payment?

I’ve always heard you need 2 years of tax returns and income is that true? I have enough saved up but haven’t worked for two years.

@user-qg6pv5ru1q

2 жыл бұрын

👆Need help improving your credit score ? make a note 📝 asap ☝️...

@jamzempire

2 жыл бұрын

Yes you need to prove that you have been earning and paying your taxes consistently.

Thank you @ chandler! Question, after you live in your first quadraplex and moved and do the same to your next quadraplex , do The bank automatically change my first one as an investment?

Chandler to put yourself in these investment position do you need a real estate license???

I still live with my parents at no rent , and say i saved the 50k and bought a house . Do you recommend if i have the possibility of staying at home and just simply rent out the house that was recently bought ?

@chriswhynder8311

2 жыл бұрын

depends on the type of loan but yes lots of people do it just dont get caught lol

@JoeyTheBeaster

2 жыл бұрын

@@chriswhynder8311 caught by who?

@chriswhynder8311

2 жыл бұрын

@@JoeyTheBeaster by the bank if they found out you bought it to just turn around from day one and rent it out

What about another future " pandemic" and future eviction moratoriums ? I'm still owed 30k + in back rental payments . Honestly, I'm getting out of rentals right now , and have mine up for sale as we speak.

@user-qg6pv5ru1q

2 жыл бұрын

👆Need help improving your credit score ? make a note 📝 asap ☝️..

Only issue with this in today's market, really difficult to get an FHA accepted from sellers

@tarawalton6778

2 жыл бұрын

So VERY TRUE!!

alright so I'm 21 and i currently make 5k a month after taxes. I just started my job so i have no money saved up. if my math is correct by the end of march i should have 12k saved up. meaning i only spend 1k a month, i dont pay rent live with parents. There's ready to rent 3 families in my area that are going for around 300k. so my plan once march is over is to put a 3.5% down payment on one of these houses. I'd also like to have them cover the closing cost or pay them 2-3% more for the house so that they cover the closing cost and I just work that into the mortgage. I'm fairly new to real estate so any advice or feedback would be appreciated. my credit score is 780 and I'm only 1.5k in debt from credit cards.

@cristopherrodriguezpaz1729

2 жыл бұрын

Bullshit your score is 780 at 21. Unless you’ve bought a car or a house. That score is worthless. Thats baby credit. No lender will take that.

I find the closing cost is so high that it is hard to have cash flow. in my area it runs from 60 thousand to around 150,000 thousand. How can anyone get a positive cash flow from the expensive closing cost?

I have around 80k$ to buy a 4-plex... I'm trading crypto for a living.. so I'm not able to get a loan, what are my options its that case? private lenders?

@danbiss87

2 жыл бұрын

buy a piece of land and build to suit. It may in your case be a good idea to build a high small high end single family, then sell it and reap rewards

Thanks Chandler I find your videos to be very helpful, I'm currently in the process to starting out in purchasing a duplex or triplex however the prices have skyrocketed within the last 2 years or so. Thanks for all your content.

I've checked out several mortgage lenders and they all wanted 20% down for anything beyond a condo or single family home. Any multi-unit or multi-family property they say is considered an investment property so the 3.5% or FHA loan wasn't an option. Any suggestions?

@imariesjustin

Жыл бұрын

thats why you live in it and make it your primary residence

@rthom

Жыл бұрын

@@imariesjustin Even if you live in the multi family, it's still considered an investment property by all the lenders I've spoken to.

@iizzzy

Жыл бұрын

@@rthom any updates on this ?

@rthom

Жыл бұрын

@@iizzzy No. To my knowledge, the local lenders in my state and the national lenders have not changed their stance on what is considered an investment property .. so an FHA loan is still not an option. I haven't looked at any additional lenders since.

@iizzzy

Жыл бұрын

@@rthom so they didn’t even give you an option for a FHA, because off the bat they considered a multi-unit or multi-family as an investment property ? Therefore it had to be 20%? Correct ?

👍

Would you be able to do a video about property managers? Signs of good vs bad, what to look for if you have 1 property vs multiple, and when would you recommend getting a manger (first property vs sixth)? etc...

@user-qg6pv5ru1q

2 жыл бұрын

👆Need help improving your credit score ? make a note 📝 asap ☝️..

Or just pay in cash?

From me it's not so much the financial part as it is finding the property, it's hard enough find a single unit/home let alone a duplex, best I can think of is getting a 4bedroom and renting out 3 of the rooms

Hey man awesome content, you claimed u own 20 million worth of real estate so can you help clarify something for me. I was wondering do you own 20 million dollars in real estate or does the bank own 20 million dollars of real estate?

Chandler, hope all is well. Very informative video. I was wondering where can I purchase that particular ring. Thanks a lot!

I am 53 years old. Never invested in rental property but been seriously thinking about it for the past 6 months. I looked around but rental property supply is not available. My big question is... Am I too old to start investing in rental property?

How much debt do you have on that $20M in real estate?

A good bank will ask for 20-25% down. Idk where you're getting 3.5%.

100k property not in Dc/Md

Wait…. You can use an FHA loan on a FOURplex as long as you live there??? 🤯

@marcoparra1655

Жыл бұрын

Yes!

Do you have to change your first home that becomes a rental into an investment property and increase the interest rate when you buy your next personal house that eventually will become a rental?

@NelksLife

2 жыл бұрын

No you don’t.

How about no money every time! Most cases cash back at closing!

Quality video once again Chandler. Question. I qualify for VA loan from my past military service, and don't see many videos anywhere about that type of loan (understandably). From what I gather, with a VA loan, I can go 0$ for the down payment (with no PMI) and any closing costs are rolled over into the mortgage. I always thought you could use VA and FHA loans as many times as you wanted, BUT, only 1 at a time. For example: buy a property with a FHA loan, refi down the road to a conventional loan (once I get the 20% in equity from just paying the mortage down), then I have that FHA loan to use again (same with VA loans). The way you mention FHA loans in the vid, almost seems like I have that all wrong. If I can only use one, should I go for the FHA loan for 3.5% down then for my 2nd property use VA if they are only 1 time use? Also, the only multi-family properties in my area are in a not-so-safe part of town and I don't think there will ever be any appreciation in that area without some kind of serious change so single families will have to be my go-to unless I want to invest way out of my area.

@bubba4lyfe19

2 жыл бұрын

You can have multiple VA loans. You have a cap and have to fulfill some reqs

Loved the video! gave me some peace of mind, I have been looking for a multifamily home for awhile now and I think I may have found the one. I just don't know how much longer to wait!

@user-qg6pv5ru1q

2 жыл бұрын

👆Need help improving your credit score ? make a note 📝 asap ☝️..

I have such a hard time with the fears I have of debt. We just closed on our first home a few months ago and we love it. Especially in this market, it was a miracle! We are now talking about a rental property, perhaps near a lake or tourist area. I’m just so fearful of getting into more debt and risk not being able to get a cash flow from renters. Anyone else out there have advice for someone who wants to rent an Airbnb? Thanks!!

You need at least closing cost plus down payment money. Especially if you don't have the money to buy it cash!

Great advice. One thing to mention is VA is no money down. Can be used up to a 4 plex.

Great video. So I currently have a single family home that I used the VA loan to own. My question is how do I do the same plan with a family with another VA loan and how much do I need to save. I currently live in Texas in the Fort Hood area

@cristianoporto3091

2 жыл бұрын

Hey brother, Mortgage lender here… unfortunately VA caps you at how many VA loans you can take (since they’re guaranteeing it). You might be able to use it for another home depending on how much your first home was. Besides that you’ll need to go conventional

3% down. Only in the USA

Anyone living on less than they make, needs to learn how to invest for a better future.

@susanben7053

2 жыл бұрын

This is the best time to start up your CRYPTO TRADING investment now bitcoin is about $37k will be at the target of $70k soonest 🤗

@jillianmayod3108

2 жыл бұрын

Best comment from my friend was "I don't need CRYPTO, I have a good job "😅

@silverben6103

2 жыл бұрын

I don't think anybody should be left out when going for digital assets

@tessiewhitney887

2 жыл бұрын

Bitcoin is the future, investing in it now will be the wisest thing to do especially this high rise

@mikefrank3016

2 жыл бұрын

For real bitcoin is a collection of opportunities.

Im 17 and Turning 18 in a few months and want to do this don’t wanna go to college tho💀

@vakkifn9814

Жыл бұрын

Same but im going to college 😂