Bought my first single family in 2019, sold it in 2020. Used funds to buy owner occupy duplex w/15% down. Saved up money to buy 2nd duplex. Held for 6 months, did cash out refi & used money to buy 3rd duplex. Saved up money and bought 4th duplex. Used heloc and bought 5th duplex. Then used 401k $ and bought 6th duplex. I now have 12 rental units all in same neighborhood. Majority of my loans are 30 yr fixed under 4% interest.

@Lik3ToSing

9 ай бұрын

It was a great time to start

@bobbiemariegonzalez5321

9 ай бұрын

Is it a commercial loan? Or did you do the loans as personal loans since we can have up to 10?

@Sageproperties

9 ай бұрын

@@Lik3ToSingyes I had perfect timing

@meecheongkim3980

8 ай бұрын

Did you sell your house in a year? Why? How much did you profit from selling your first house? I have a house bought in 2004. I don’t need to live in this house anymore. Should I sell it and invest to duplex?

@whatta7793

7 ай бұрын

@@meecheongkim3980 sell or rent it. Sell if you think you can get a better deal using the cash, rent it if you think it'd be hard to replace for the $ amount you could sell for minus closing/taxes.

I'm 58 and my husband and I are very worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, we are finding it impossible to replace it. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 40years nonstop just for a crooked system to take all you worked for in a twinkle of an eye.

@bespoke4187

9 ай бұрын

That's why I started real estate investing in 2019. We saw our home value double since then. Definitely a bigger change than our 401Ks and Roth IRAs. Never to late to start this route looking into other ways to creatively finance if you don't have the assets or liquidity needed traditional lending. I personally will never retire even though we have the ability to do that without anxiety. People live longer when they stay active working on things that are a passion and give them purpose. I'll likely start a vacation rental business after I get my homeschoolers out of the house.

I don't leave comments often but you and Brandon have helped change my life. I have been interested in REI for some time. I read a few books by Brandon and yourself and finally took the leap and purchased a property in Feb. It was exciting and nerve racking at the same time but had been so much fun with a lot of learning on the way. With your words and knowledge I recieve from the biggerpockets podasts, I feel I have the knowledge i need to be successful. I am thankful for this episode and the info on building equity. I can't wait to purchase my next property and continue to build my portfolio. Thanks for all you guys do.

We are breaking even on one of our properties. Cash flow isn’t the main focus at this juncture. It is the mere fact that the property takes care of itself. We are not stressed and know that we did purchase at a superb price, provide a nice home in a good neighborhood. Our wealth is growing and our tenants are content.

Another GEM of “Seeing Green”! Great answers to great questions! Always learning from David and BP! Thanks so much!

Love this episode!!! Your podcasts give me motivation when I start to lose steam. Thank you.

So many pearls of wisdom I could make a necklace. Thanks for all the amazing insight sir!

If it doesn't cashflow it's a liability and liabilities take money out if your pocket

Closing on my first duplex house hack this week. Blindly offered 20k above asking in a not so great area. Stupid rookie mistake but hoping to get some good deals moving forward

@themadmillionaire

9 ай бұрын

Congratulations!!! 🎉🎈🍾

@gilborealty

9 ай бұрын

Get a good realtor to help you. It’s not good to start out in the hole or near it. I’ve seen many newbies drop out after their first deal went bad.

Loved this show! Thanks David!

It’d great to have a show for real estate agents in this recession to survive! Thanks you!!!

Fabulous answers❤🇨🇦……thank you for clarifying the paths forward…exactly what I needed.

Well thought out and clearly explained regarding sales advice.

Valuable information ❤

Thank you for this one.

Loved this video, great content.

Thank you so much, David! I love your podcast so much and listen to it as often as I can. And I started to listen to your book Long Distance Real Estate.

Wow! I listen to as many of these as I can, but with so many investors in different situations, they don't necessarily apply to us at THIS moment. Almost all of the QAs in this episode were directly relevant to us right now. Thank you for all of your answers, and breaking each subject down for us to understand. Thank you David, and to all of you on the BiggerPockets Podcast SHOW!

Great response using analogies concerning various was to realize/utilize the real estate's income and/or equity.

Great episode!! I really needed this one!

Thanks love this show!

I am SO thankful for your podcasts, David! This is awesome as usual! 🙏🏼❤️

Straight wisdom.

Thank you David for another great episode. I am new to the investment arena, and my focus is not on cash flow but building equity and aiming for long term appreciation. I am trying to capitalize on my decent W2 income to buy in good neighborhood with good quality tenants, which translates to negative cash flow in my market. Some times I feel lonely because most people think buying a negative cash flow rental is stupid. It is refreshing to hear this different approach being discussed.

Great Show. I appreciate David’s candid honesty about what sells to the masses vs what some investors choose to do lien BEAF. It was probably TMI that is not a good look for your business. Either way I still appreciate you. I just would have never said that quite part out loud. Keep up the great work. BP is my favorite Podcast!

Well explained...so many variables

Great information ✍🏽

This video talks about how to make the most money from real estate. David shares smart ideas about what to do with your property investments in the future. It's helpful for planning your money. Good job, David, for sharing your knowledge!

Great episode. I love how you were able to cover everyone's different questions. Mine was asked by someone else. 🥰

Great information 🔥

Thank you for this show. Go Green

The only beef I have with this episode and bp in general lately is we’ve lost the art of brrrr and gone more down the road of old school traditional real estate of longer term buy and hold equity plays. Those are great in some markets and in a slow pace. The comment made about buying in great areas below market price is near impossible in my area because that’s where properties sell same day with 15 offers. Nobody in their right mind would sell off market in these areas even if the property is condemned. So unless you have your own wholesale machine behind your purchases there’s no way you are getting a or even b properties for below market value and minuscule cashflow. Brrrr is the only way to buy and be able to buy another property before 5 years 🤞🏽in the a-b markets and try to build a portfolio for a beginner who doesn’t have hundreds of thousands of dollars to invest and park for a while with no worries. I’d love to hear more about beginners using brrrr in this climate to grow where you can buy 2-4 properties in a year with mostly the same money over park 80 grand in the best neighborhood and sit and hope you can buy another property one day.

@vmurphs

9 ай бұрын

I personally have a property right now. I want to rent and considering getting a second mortgage. It would shrink my cash flow significantly and I would essentially be doubling my interest rate difficult to decide what to do. 200K mortgage with 4% rate currently and appraisal value of 390K... current rate 7.5%^

How do u feel about acquiring properties thru subto. ? Good or rsiky

Thanks for being honest about the BEAF. That is the route I am going as well. Looking at long term plan.

So much free game, love the information David going to get my 3rd property this year looking for a multi family home!

@angeltaylor8618

8 ай бұрын

What’s your IG?

Gonna have to buy your new book… can you sign them if we pre order 😁

Very Informative content. Thanks for sharing this video.

How do i use the equity in commercial/mixed use properties? Without refinancing since i if refi right now id be getting a higher rate

I look at Cash Flow as 1 of the ‘big 5’ reasons that are benefits of investing on properties. So I agree…..breaking even with a great investment is a plus not the end of the world as the other 4 great benefits carry you.FABULOUS QUESTION❤

You are the best. Love these 43:09

I don't like the sound of HELOCs, because of the fluctuating interest rates. Which one would make my mortgage go up the most a cash out refy or a equity loan?

I’m here to reset and jump back in. I bought my first house hack property solely based on numbers and neighborhood potential vs actual neighborhood. Fortunately, I sold in this artificially inflated market and walked away with a nice profit. Friends, location is everything!

How much is a good passive income??

Looking at buying my first business and doing all I can to get loan information

your the truth 🙌 💪

I don’t know what’s going on but houses listed in my area cut price everywhere. Some sitting on market very long.

I recently bought a house in riverside California with FHA 6.1 ….if rates pull back but values go down is there a way to still refinance??? I am trying to value add … have a duplex but just discovered the back house is not registered as a ADU but it’s registered as a rec room with bath so working on getting the proper permits to register as a ADU to add value

@Discovery123.

9 ай бұрын

If rate drop in the near future and house values go down under water, you cannot refinance.

My grandpa was buying the smallest home in the nicer neighborhoods

@alenaduberealtor9508

9 ай бұрын

Smart grandpa!

I have equity but my business has been losing money for 6-12 months. Can I still qualify to buy another property ?

How do you decide to sell a rental property after its appreciated for a few years or just decide to keep renting it ... keep it for cash flow ? Its a property that is minimal effort

I have a house bought in 2004. Should I sell it and invest to owner occupied multifamily house?

I have a question I had LOC for 2.5m. But since interest rate went to 8.5% prime. My DSCR WENT DOWN. So they lowered my LoC to 2m. But I make enough money to pay for it on my tax return. But for some reason their only going off my property NOI.

@michaelbenitez9149

9 ай бұрын

I need help please I’m 26 years old. Would love some older experience wise guys

@kerrybaird739

9 ай бұрын

That’s how DSCR works, off the property income and a BLOC (like a HELOC) is seen to be more risky. HELOCs were closed in the last down turn, because banks need to have cash on hand to facilitate draws. Fixed rates on DSCR can be lower than revolving funds.

Are there any challenges with accessing equity from a mobile home park...anyone?

140k to cash flow $100 in Florida? Nuts.. REITs cash flow so much more and you're not tied down to a location.

Implementing the BEAF methodology following the greatest period of price appreciation ever seems a bit too risky for me. Best of luck!

Its very expensive to borrow equity with the current interest rates.

Hi David, I have a three bedroom townhome with association fees for $375 and trying to sale it due to high fees . What your thoughts on my decision to sale? Grace

@HappyPenguin75034

8 ай бұрын

give all the details

Buying investment properties with negative or net-zero cash flow.....is just the same shtick I heard leading up to 2007

Do I need a down payment for DSCR loans?

@itsmebedazzle

9 ай бұрын

Yes, unless you already own the property and just refinancing it.

That Beardy dude sure seems to have some wisdom. Lol We never have 100% control. Which is where I have an issue with the concept of extreme ownership.

You don't have to pay the capital gains tax if you sell and put your money in a DST. You will get cash flow as well. This is especially good if you don't want to be a landlord anymore ! I with tax attorneys who can set thos up for you. Let me know if you're interested .

Is there a chief risk officer at bigger pockets?

@agentsliftingagents

9 ай бұрын

I always double check numbers with a good real estate Appraiser to help analyze our risk.

All the home equity lenders I have contacted don't do investment properties.

To Sell from Old Middle English "Sellan" means to Give--not take as we interpret it today.

How much did Alex Hormozi pay you to mention his book?

I want to set up an investment rental property for my special needs son. Something where he can get cash flow every month.

@DexterBoyz1984

9 ай бұрын

Simple to do. Just bought my 10th in 2 years

I don’t have home equity

Does a heloc affect your credit to buy another property?

@humblebee7979

9 ай бұрын

It does if the mortgage is under your social versus an EIN.

@kerrybaird739

9 ай бұрын

Yes, similar to a big credit card. It moves your DTI higher

Bought my 12 unit property with a downpayment from my HELOC on my paid off home.

To the kid with the question just go straight to Alex Hormozi

Jed, you have all the ingredients to be a great salesman-just shave and be clean cut. No tattoos, blue hair, or piercings. Also, don’t smoke. Always look fresh, clean, and professional. I’d get a nice polo shirt with a company logo on it. Uniform khakis. Drive a nice, clean truck with your logo on the side of it. Lastly, have a nice, easy to read business card with your company logo on it.

FIRST

Guy calling in from Shanghai is talking as if China were just like the USA when it comes to private property (among many other concepts). Good luck getting your money out of China.

‼️‼️‼️🤾🏽‍♀️💯

If the banks call in your loans - which DOES happen - you will be bankrupt. Banks are struggling right now. Debt is evil. Pay cash or don’t do it.

Dudes name is bigger pockets and he’s talking down on salesman . Haha ok

@leitm3912

9 ай бұрын

Bigger pockets is the name of the whole community and the website. His name is David.

This is NOT the time to invest in real estate, This guy is trying to profit off of people that will ultimately default on their loans.

@kerrybaird739

9 ай бұрын

I’ve been finding deals on foreclosed and probate houses. It depends on one’s strategy. I also like buying with seller financing rather than bank financing.

Hey David, I am looking to do a partnership with my dad on a Lakehouse down here in Florida. Is it possible to get two separate mortgages upon purchase? He plans to pay his half off sooner. Do you know of any partnership loan products or have any advice?

It’s about buying income rental properties at the right price, right condition and buying at the right location. ❤👏 @GilbertChecoury

@alldanamesrtakn

9 ай бұрын

And winning the lotto is about picking the right numbers

@jeffreymallari8507

9 ай бұрын

lol

@roundedges2

9 ай бұрын

@@alldanamesrtakn I am sorry but that is dumb to say because it is impossible to know the right numbers to win a lotto--But ENTIRELY possible to know What is a good location criteria What is a good (enough) condition criteria and What is a good price for you taking many factors like the first 2 plus your finances and the income potential of a house--which makes it NOT a total crapshoot--unless one is too lazy to do the legwork--which can be an issue a lot of folks

@loulupero4147

9 ай бұрын

Location & deal is everything

@tonymimi9715

9 ай бұрын

Yes!

I can’t think of a worse investment than an AirBnB in Florida right now