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The TRUTH about Fundrise Real Estate Investing
 
18:31
Fundrise. Real Estate Investing with some pretty substantial returns. Is it worth it? Is it legit? Should you invest in it? Here’s what I discovered. Enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Fundrise is a real estate investing service that allows you access to private market real estate deals that they say should “deliver superior risk-adjusted returns over time versus a portfolio of publicly traded stocks.” The biggest difference is that Fundrise is NOT publicly traded on a stock exchange, but they are publicly available. By being publicly available, this means that anyone can invest because they comply with the SEC disclosure regulations, and by doing so, they don’t limit themselves to accredited investors So there’s gotta be a catch, RIGHT? So I read through all 225 pages of their fine print. Here’s what I found. First concern is lack of liquidity. By investing through Fundrise, you’re pretty much tying up your money for 5 years. Even though they say that if you pull out your money prior to then at their redemption rate, which is 97% at its lowest - they still make it very clear there is no guaranteed return of your investment with no immediate plan to buy back your shares. As from their fine print: “If we do not successfully implement a liquidity transaction, you may have to hold your investment for an indefinite period.” It goes on to say “Fundrise Advisors, LLC, our wholly-owned subsidiary, has the authority, in its sole discretion, to limit redemptions by each shareholder during any quarter, including if the Manager deems such action to be in the best interest of the shareholders as a whole.” Second concern I have is their fees…which they say are 1% annually. This seems a bit high compared to other lower cost options, namely a Vanguard REIT - which charges 0.26% annually as a fee, or 74% LESS than FundRise. But, in FundRise’s defense, they’re a smaller company which invests in riskier assets that should generate higher returns to compensate to the higher fee. My third concern - and also a major reason I’d never invest in this - is that the dividends are taxes as ordinary income at your ordinary income rate. One of the many advantages of holding long term investments is capturing the long term capital gains tax rate - this is typically SIGNIFICANTLY lower than the tax rate for ordinary income. My fourth concern is how this investment will hold up in a down market. While I agree with their market strategy and can’t find any faults with where they’re investing, at some point there will be a plateau in growth, while these returns are possible NOW, I’m unsure how sustainable these are long term - and again, if you want to re-balance your portfolio, you may be stuck with your investment. And they very much acknowledge this in their fine print: “The significant growth we have experienced, particularly with respect to assets under management and revenues, will be difficult to sustain.” Fifth, I’m always a little hesitant about companies that give referral fees. While often it’s a nice gesture to give customers SOMETHING for referring business, and I totally agree with this business model, in the age of the internet, there will be people out there who will write falsely positive reviews just to get the referral bonus. When this happens, honest criticism becomes buried or harder to find. For someone wanting exposure to real estate, I believe there are many other REIT options out there that offer the liquidity and tax treatment that put you in a much better position, even if they’ll give you slightly lower returns. I’d rather sacrifice a percent or two JUST to have access to my money when I need it. So overall, no it’s not a scam - and there are some positives about what they’re doing - but from what I see, the downsides just outweigh the upside, rendering other options as more attractive when put side by side. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 99169 Graham Stephan
Credit Cards 101: How to build your credit score ASAP and leverage your money
 
11:35
This is one of the most important videos I’ve made so far: how to get a credit card, why you should care, what factors increase your credit score, and how that can ultimately help make you money. I got my first credit card at 21 years old, after banks turned me down for a loan on real estate - this is from my experiences building my own credit. Your credit score shows banks how responsible you are with your money. The scores range from about 300-850, with the best rates being available to those who have a score above 740. It shows banks how likely you are to potentially default on a loan and they adjust their interest rate according to their risk. They calculate your credit score based off several factors: -Length of credit history - the longer you’ve had it, the higher the score -How much credit you have available to you - the more money you have available, the higher the score -How much of it you actually use - the less money you use, the higher the score - this is called utilization rate -On time payments - if you’ve never had a late payment and always pay on time, the higher the score -The diversity of loans you’ve had - if you have variety of credit cards, auto loans, home loans, the higher your score. -Total inquiries - this means that every time you apply for a loan or credit card, it’s marked. The more times you apply, the higher risk you’re seen, since people who apply for a lot of credit in a short amount of time might be desperate for money, so this temporarily lowers your score. But lets not worry about this since for most people just starting, it won’t make a difference. Credit card misconceptions: -You do NOT need to pay interest to increase your credit score. Pay it off in full, you do not need to keep a small balance each month. -It does NOT hurt you to check your own credit score. I use CreditKarma regularly to keep track of my score and where it’s at. -It’s also false that having too many cards will decrease your score - the opposite is true. The more credit you have available, generally your debt-to-credit ratio will be a lot lower, which will increase your score. -Do NOT close out a credit card, especially if it’s an old account. When you close a credit card, it also closes all that credit history - which is a huge component of a good score. Keep your credit cards open even if you don’t use them, or if you pay an annual fee, see if they can downgrade the card to a free account. -NOT all debt is bad. There can be good debt - like a mortgage, or an auto loan where your money is better off invested somewhere else - or bad debt, which is that expensive Hawaiian vacation for $7000 that you couldn’t afford but you did it anyway because you put it on a credit card. Debt is a great way to leverage your money and have it work for you, earning MORE money in your investments than you pay off in interest. Now keep in mind, a credit card is something to use responsibly. Just put a normal amount on the cards each month as you would cash or a debit card, and pay it off in full. That’s it. It’s really, really simple. Eventually you can take advantage of great credit card rewards that’ll get you free trips and perks. Look up credit card churning for more information. My favorite credit cards: -Bank of America Cash Rewards: https://goo.gl/1xwB4B -Amex Gold Card: https://goo.gl/d2y4Gc -Chase Sapphire Preferred: https://goo.gl/Iq0BiX -Chase Sapphire Reserve: https://goo.gl/22mf4I Add me on Instagram: GPStephan Add me on Snapchat: GPStephan Thanks for watching!
Views: 387163 Graham Stephan
Buying vs Leasing a Car 101: How to pick the BEST choice
 
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Here’s a common questions I’m asked…is it better to lease or buy a car, and which one is a financially better move? I’ve done both, and these are my thoughts as to which one is better - enjoy! Add me on Snapchat/Instagram: GPStephan The short answer is that it really depends on your situation and how long you plan to keep the car, but I’ll describe the pros and cons of each and what might work best with you. Lets start with owning and buying a car. First of all, you can buy pretty much whatever car you want, unlike leasing where it’s almost always a new or newer car. Generally, unless you just buy your car outright in cash, you’ll end up financing the car. This is when you take the cost of the car, minus your down payment, and get a loan which you’ll pay off over a specific period of time - the most common being 48-72 months. And then you’ll also pay whatever state sales tax is on top of your purchase. Factor all that in…and then once you pay off your loan, congratulations - you own the car free and clear. And then when you go to sell it, you’ll get whatever price the car is worth - minus whatever you might still owe on the car. However, a few drawbacks of this - unless under warranty, you’ll generally be responsible for maintenance and wear and tear items during your ownership, especially on an older car, and this can add to the cost…you’ll also need to pay sales tax on the purchase price upfront…and totally separate from that, your monthly payments tend to be higher with owning than with leasing. Leasing generally works best if you’re the type of person who always wants to have a newer car every few years. If you plan to get one car and drive it forever to the ground… don’t lease your car. But depending on how long you plan to keep the car, leasing could actually save you money. With leasing, you’ll generally be leasing a brand new or newer car. You’ll usually have a down payment and then generally you’ll have a 24-36 month term where you have a fixed monthly payment, along with a set number of miles you can drive each year. You’ll need to return the car with your set amount of miles or less or risk paying fees and penalties. Now when you lease a car, you’re not paying the full amount of sales tax upfront - which can save you a TON of money. The lease price is determined but the depreciation the car is going to see during ownership, plus some finance charges. You’re basically just paying a monthly amount of the depreciation, rather than the entire cost of the car. Therefore, with leases, you’ll generally pay LESS per month to drive the car because your financing only the deprecation…not the entire thing like when owning a car. With a lot of leases, too, maintenance is often covered…so you can pretty much just pay a set monthly price and not have to worry about normal wear and tear/maintenance costs that come up. And when the lease is done, you don’t have the hassle of needing to sell it…you just turn it back and you’re done. So here’s my thoughts. Both leasing and owning have their own advantages and disadvantages, and what makes one better than the other is dependent on your situation. If you plan to keep your car more than 5 years or so…it’s almost always better to buy the car. Whether you buy a brand new car or an old used one, the longer you plan to keep the car, the more it starts making sense to buy it. But if you’re like me and you want the privilege of owning a new car every few years… it’s cheaper just to lease it - it means I pay less per month since I’m only paying for the depreciation, I don’t need to pay sales tax on the entire cost of the car - only on my monthly payment, and I can simply swap it out when the lease is done to get a new one. Ideally, for most people out there who just need a car to get from A to B…the BEST option is to buy a car that’s 3-5 years old and has already hit most of its depreciation. After about 5 years, most cars depreciate at a much, much slower pace - so buying a car like this and keeping it forever would be the most financially “sane” thing to do. Then just finance it at a low interest rate, re-invest whatever money you would’ve spent on the car, and hold it. Then when the car falls apart and you can’t drive it anymore, do it again. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 155812 Graham Stephan
The Fastest Way to Build Wealth Investing in Real Estate: The BRRRR Strategy
 
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It’s no surprise that this is my favorite way to invest in real estate, and also one of the fastest ways you can grow your wealth….and this is called the BRRRR strategy of real estate investing. Enjoy! Add me on Snapchat/Instagram: GPStephan Learn my exact strategies to help grow your career as a real estate agent to a six-figure income, how to best build your network of clients, expand into luxury markets, and exactly what you can do to begin taking your career to the next level…these strategies took me to $120,000,000 in sales volume: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The BRRRR Method: This basically uses the equity and profit from one property to fund the next property through strategic leverage. And then the next property can fund the next one…and so on, until after a few years you’ve amassed an army of homes that just throw cash at your every month. 1. The first step is to buy a property, obviously. But the difference here is that you can’t just buy anything - the property not only needs to cash flow, but there needs to be some opportunity for equity. Your equity is basically just the amount of “worth” tied up in the property, minus your loan balance. So you either need to buy into equity by buying something BELOW what its market value is, or buying something where you can add equity with strategic renovations. Most deals won’t work - you need to be better than the average here and really become an expert in your area to spot the best deals, and the patience to wait around until that happens. 2. Renovate. Once you buy something, you’ll fix it up. Generally this is the best and easiest way to add value to a property. Most places that need work price themselves accordingly. Doing the work yourself saves you from paying someone else’s profit in managing a renovation, and often times you can renovate a property much cheaper than someone else will charge for doing the same thing. 3. The third step is rent…in that you now rent out the property. You should have had an idea of what price you’d get from the beginning when you bought the property, so it shouldn’t be a surprise what you can rent the property for. The property should rent high enough to pay off all of your expenses AND cash flow on top of it. Like I said, not every property will do this - you will need to find the 1/30 where it makes sense to buy, at the right price, that’ll rent for high enough, with enough equity to add to the deal. 4. NOW WE REFINANCE! This is where the bank pays off your previous loan, and gives you a NEW loan based off the new, higher value of the property. This means that you’ll have some “Cash at closing,” as it’s called. Now you pretty much got some money back, you have a cash flowing house, and you can do this entire process over again. 5. And then…you repeat the process and start over again with the next one! The advantage here is that every time you buy something under market value, you increase your net worth. By fixing it up, you increase your net worth and cash flow at the same time. The higher your net worth and the more equity in a property, the more banks are willing to lend you to do it again and continue to increase your cashflow. This is by far my favorite strategy, and you’ll finish this up with a trail of cash flowing properties behind you. Yes, it takes some work to identify and fix up a property - but it’s worth it. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 52035 Graham Stephan
How to get your Real Estate license and become a Real Estate Agent
 
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As a full time real estate agent since 2008, this is the most common question I get asked - so this is my video addressing anyone interested in getting into the real estate sales industry. It’s been the funnest “job” I’ve ever had and I couldn’t imagine doing anything other than working as a Realtor and investing in my own properties on the side. Feel free to add me on Snap/Insta: GPStephan Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c Benefits of becoming a Realtor: -You don’t need a college degree -You make your own hours -You don’t have to be in an office all day -You can wear what you want, for the most part -You can directly control your income -You can meet people you’d never ordinarily meet -You get to see some crazy cool homes -You can represent yourself when you buy/sell your own properties -You get great tax advantages and tax deductions On the downside: -Many people fail -Many people never make money -Your income can be very sporadic (high highs, low lows) -The hours can be odd/inconsistent -Not everyone can handle working with people and multiple personalities You don’t need any prior knowledge in the real estate industry, although you will need to learn a significant amount as you go along. It also doesn’t take a ton of money to get started - as long as you have some savings to cover yourself until you start earning consistent money, which could be 6-12 months from when you start, the fees are manageable. The cost of actually becoming licensed could be as little as a few hundred dollars. It’s also a great career to start when you’re young - since you have very little overhead, it’s a great time to begin learning and honing your skills. By the time your older, you’ll already have established yourself in the industry. First step is getting your real estate license. The requirements vary from state-to-state, so google “How to get your real estate license in (your state here).” You’ll usually need to enroll in a real estate course which is generally about 135-hours of education. You can take it online (what I recommend) or in person. If you’re in California, I took my real estate license course from PremierSchools: https://goo.gl/IDVxCf (use code grstp for 5% off). www.AlliedSchools.com is also another great option, as is Kaplan for most other states in the US. Once you pass these courses, you’ll sign up to take your state test. This is what you’ll need to study for - generally there are plenty of exam cram products you can buy, many of which are helpful. Passing your tests and getting your license is easy. Really, really easy - the barrier to entry is very, very low. Actually making money is another story. Once you get your license, my BIGGEST recommendation is to work as an assistant to another Realtor. This will give you all the experience you need with very little risk, since you’re getting paid for your time. When you feel comfortable enough, you can go off on your own and begin working your own clients. Even if you have to intern for free to see if you like it, it’s worth it for the experience. If you decide to go off on your own, you’ll need to join a real estate brokerage as a new agent who will oversee your salesperson activity. My recommendation is to first find a brokerage that works in the area that you want to work in. If you want to work in the high end luxury market, find brokerages that work in the area you want to be in. Make sure that brokerage also offers training and support - this is crucial as a new agent who’s still learning. A good book I recommend is “the millionaire real estate agent” by Gary Keller. This pretty much covers everything you’d need to know! This can be bought here: http://goo.gl/TPTSVC Thanks for watching!
Views: 143444 Graham Stephan
$5500 per year to tax-free Millionaire: Why you need a Roth IRA
 
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This is one of those things I wished I would’ve learned and had done when I was younger - open up a Roth IRA retirement account. And because it saves you from paying taxes on your earnings and profits later on, I’m all about it. So this is what a Roth IRA is and this is why it’s so important to have one! Click “SHOW MORE” to read my full thoughts. Also feel free to add me on Snapchat / Instagram: GPStephan So here’s what it is - and because this confused me when I was younger, I’ll break it down as simple as possible. A Roth IRA is a type of investment account that you can set up where you invest your money today - up to $5500 per year with no immediate tax deductions - and can pull out your profits and earnings tax free when you’re 59.5. That means you pay NO TAX on YEARS of compounded interest and earnings. Your tax free profits just makes you MORE tax free profits. And it snowballs into a LOT of money. This is best done when you’re young for a few reasons…the money you invest in a Roth IRA is done post tax, which means taxes are already taken out of the money that you earn at the time you invest it. So if you make $20,000 from a job, you might be left with only $17,000 after paying taxes…so this $17,000 is now “post tax” money. The reason is best when you’re young is that chances are, you’re not earning a ton of money compared to what you WILL be earning. When you’re earning a lot of money, it’s about reducing what you owe in taxes because the more money you make, the more money you’re generally taxed. When you’re not earning a lot of money, you’re already in a lower tax bracket, so it’s advantageous to take advantage of that and pay the taxes now to invest - because in the future, you’ll hopefully earn a lot more money. Especially if you’re 18-30 and not earning a lot of money, this is PERFECT for you. When you start earning more money, there are other accounts that might make more sense for your situation. So here’s what I would do: If you’re under the age of 18 and have a job that you’re making money with, you can ask your parents to open a Roth IRA account for you. From there, you contribute money you’re making from your job - keep in mind you cannot contribute more than you earn, so if you earn $1000 that year, you can only contribute $1000. If you’re over the age of 18, right after this video is done, just go online and sign up for a Roth IRA. I use Vanguard and they’re awesome, many people use Charles Schwab or Fidelity - just make sure the account has low fees. You can contribute up to $5500 of earned income every year - if you make too much money, you can look into doing a backdoor Roth IRA contribution. I recommend putting in as much as you can afford and forgetting about it. The advantage is that since there’s compounded interest, the sooner you put your money in, on average, the more you’ll have by the time you retire. Is this a boring investment strategy? Yes. But it’s effective. I recommend just doing this on the side with what you can afford, while continuing to invest elsewhere or investing in yourself. Just to give you some ideas, if you invest $1000 per year at 18 and retire at 60, you’ll have $264,000…of that, you only contributed $43,000 over 42 years, meaning you just made $221,000 of tax free money. If you invest $2000 per year at 18, same situation as above, you’ll have invested $86,000 and made $444,000 of tax free money. If you invest the maximum right now of $5500 per year at 18 years old, you’ll have invested $231,000 and made over $1,200,000 in tax free money. If you just do $5500 per year at 18 years old, you can retire a millionaire without doing anything else. This average figure includes inflation, by the way. I hope this video helps and that this sets you up for future financial independence. Add me on Snapchat: GPStephan Add me on Instagram: GPstephan For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 505691 Graham Stephan
The 5 things I wish I knew before becoming a Landlord...
 
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These are the 5 things I wish I had known before becoming a landlord, and why learning these NOW can make you a better real estate investor in the long run. Enjoy! Add me on Instagram/Snapchat: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 OFF + FREE Coaching Call FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c First, I wished I had treated it more like a business rather than a hobby. When I first started, I was 21 years old. At this point, I had been working as a real estate agent for a little over 3.5 years and even though I had been doing a lot of rentals for OTHER PEOPLE, I had never done it for myself. All of a sudden you have a hard time thinking objectively, you throw your own emotions into the mix, you have self doubt, you worry if what you’re doing is right, and there’s a blurred line between running this like a business vs a hobby…and when I started, I ran it like a hobby. Don’t do that. This brings me to my second point…keep things professional, and STICK TO THE CONTRACT. In the beginning, I treated the contract more like a guide…as long as you roughly followed it, that was fine. No, NO, NO. Do NOT do this. Enforce the contract word for word. The contract is written for a reason - there should be no misinterpretation from what’s allowed and what’s agreed on. This clarifies everyone’s expectations for not only the tenant, but also for the landlord. When that contract is signed, all parties must abide by it. The third thing I wish I knew was that I’d need to be on call 24/7. If there’s ever an emergency, I have my phone on me to handle anything as it comes up. Most situations that come up, even though I’m technically “on call 24/7,” just aren’t that urgent; usually little minor things that are usually sent over email and you can handle them when you have the time. The fourth thing I wish I knew is that anything that can possibly break, will break. As a landlord, you walk into the brutal reality that most people simply don’t care about how they live or how delicate something is. Just like you baby proof a house, you will need to renter-proof your house. This means making things indestructible. If something is likely to break, make sure you don’t spend too much money on it. Just buy good quality DURABLE, not high end BREAKABLE. This will prevent you from fixing and buying new things after every tenant. The fifth thing is that the biggest learning experience of all of them is simply dealing with people. On a bigger picture, deeper down, you really have to learn to communicate effectively, be ok with saying no, be okay with standing your ground, while still being able to hear the other person out. You need to learn how to explain yourself in a way that makes sense to the other person, without coming off as insensitive or inattentive. The other person needs to be heard and their thoughts validated before you can say what you want. Just like anything else, people skills are incredibly important and can make a huge difference in whatever business your in. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 37039 Graham Stephan
Why I DON'T flip houses  (revealing my favorite real estate investing approach)
 
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Even though I’ve had the opportunity to flip the homes I’ve bought, and even though I’ve represented my own clients who’ve flipped real estate for massive profits, this is why I’ve preferred NOT to flip properties and instead, keep them as rentals. Add me on Snap/Insta: GPStephan Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c To me, my priority and focus has been to build up my passive income as much as possible, year after year- so far, in the 6 years that I’ve been investing, my income from my rental properties covers pretty much all of my expenses, allowing me to save 100% of what I make from working as a realtor. This is the type of investing I prefer - partly due to laziness in that I can continue to increase my passive income and grow that up to be able to retire whenever and have total freedom to do what I want, when I want, and partly because it’s less time intensive than flipping properties. I take a very lazy, easy approach to real estate investing. It’s slow and steady wins the race attitude. Once you set up a rental property with the right tenants, it can pretty much run on its own, making you money while you sleep. Disclosure: People can make a lot of money flipping. This isn’t to say that it’s not very, very lucrative - I know and have represented people that have made hundreds of thousands per deal. It can be a great business to be in and there’s absolutely nothing wrong with it. Everyone’s goals are different and many people prefer the immediate profit of a flip - But here are my own personal reasons why I prefer to keep my properties as rentals. 1. It’s a lot of work to flip a property, especially in a competitive market. Inventory is low and finding a deal worth flipping could take months. While it can generate a lot of profit immediately, it requires your constant work to keep the momentum to continue flipping. 2. When you sell it, you pay taxes as ordinary income - not long term capital gains, which is taxed much less. 3. Market timing. Finding a good deal could take months in Los Angeles…add another 2-3 months of renovation, and another 30-60 days of having the house on the market before closing, and you’re looking at 5-9 months from start to finish per deal. 4. Profit. Given the amount of work and time I’d dedicate to flip a property, it doesn’t make sense for me when it takes my time away from my main focus, which is working as a Realtor. 5. If the property has that much equity in it that you can flip it for a profit, chances are you can charge much higher rents than before, improving your cash flow. For me, I’ll take passive rents without doing much - it just requires some upfront work and an initial upfront investment, but once you get it going, it can run for a very long time. Having this type of passive income really allows you the freedom to do what you want, when you want - and focus on what really brings you the most joy. For this reason, I prefer rental properties over flipping. For business inquiries, you can reach me at [email protected] Add me on Snapchat/Instagram: GPStephan Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 55424 Graham Stephan
Real Estate Investing for Beginners: Expectation vs Reality
 
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Let’s debunk some common myths about real estate investing, and share what it’s ACTUALLY like, no sugar coating - enjoy! Add me on Snapchat / Instagram: GPStephan Jeremy’s Channel: https://www.youtube.com/channel/UCnMn36GT_H0X-w5_ckLtlgQ Financial Growth Conference: https://financial-education2.teachable.com/p/building-wealth-conference-2019-presented-by-financial-education Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c First expectation: Real estate investing is passive. The reality is that creating the type of rental property to the point where it’s passive income takes a LOT of work. But the work is, at times, still ongoing. Eventually you’ll have a vacancy. Eventually you’ll need to fix things up again. Nothing will last forever. Sure, you can get a property manager who’ll handle much of this for you - but you will need to do SOME work yourself, even if it’s as small as choosing between finishes or approving bids on work. It won’t be an insane amount of work, but it will be something. So yes, real estate CAN be fairly passive…but it’s not passive if you don’t put in the work UPFRONT. Second Expectation: In order to invest in real estate, you need to do the repairs yourself or be a good handyman. The reality is that I can’t do anything besides change a lightbulb. While I do know some landlords who do the work themselves to save the money, this is absolutely not a requirement - and depending on how much your time is worth, it’s often cheaper just to pay someone else to do it the right way. It’s also worth noting that since all these repairs are a write off, you can write off the costs against your income…but, if you do the work YOURSELF, you cannot deduct the cost of YOUR OWN LABOR. Third Expectation: It takes a lot of money to start. The reality is that it often takes 10%-25% down to begin investing in real estate. This COULD be a lot depending on your definition of “ a lot,” and also on your area. Buying a property in Los Angeles would be significantly more expensive than in Kentucky, for instance. Where one person might be able to buy a property for $20,000 down, someone else might need $200,000. Fourth Expectation is that it’s often like the TV shows. The Reality is that it’s NOTHING like what they portray on TV. Oftentimes those TV shows will be loosely scripted around creating drama and creating a show that’s actually interesting enough to watch all the way through. Every episode needs a goal, a problem that arises, a solution to that problem, and then a resolution at the end. The real life problems that come up just aren’t that exciting or interesting. It’s often boring and mundane. The fifth expectation is that you’ll make a lot of money investing in real estate. The reality is that oftentimes one property won’t make you rich. Most mom and pop landlords won’t make a lot early on, but as they scale up, they can earn a significant amount of money from a lot of smaller sources. This is how many landlords start making money, enough to quit their jobs and invest in real estate full time. It’s growing your portfolio over one or two DECADES and accumulating those properties that might make you only $900 a month….but buy one of those every 18 months, and in 15 years you’re making $9000 per MONTH. That’s how most landlords make their money, and make a LOT of it. But the beginning will be slow and frustrating until you begin adding more and more to your portfolio. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 247427 Graham Stephan
Which is Cheaper: BUYING or RENTING a house? (DEBUNKED)
 
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Which is actually cheaper, buying or renting a house? Lets crunch the numbers to determine which is actually less expensive, and which factors to consider to determine which is right for you. Enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c I think there’s a common misconception that buying is always the better choice, and that renting is just throwing money out of the window. But you can’t deny that many high-profile people just end up renting their homes…why is this? Lets first start with owning a home. Many people just look at the cost of rent, then look at the mortgage payment - see it’s maybe a little more, but think “I can own this for just a little bit more, buying is a waste!” However, the actual cost of owning is home is much greater than just your mortgage payment. You also have property taxes, insurance, and repairs to take into consideration - not to mention the opportunity cost of the money that you invest into your home. Purely for cash flow purposes, renting is usually cheaper. Even though you don’t get the tax benefits of owning, usually renting and investing elsewhere is cheapest month-to-month out of pocket. Not only is it “cheaper” for cash flow purposes, but you have the mobility to pick up and leave when your rent is up. You’re not responsible for maintenance. You don’t need to bother selling it when you’re done. You just pick up and go. You can also invest your money invested elsewhere, potentially making you even more money. But in terms of NET cost over 7 years, the lease will cost you MORE than owning a home, realizing the tax benefits, seeing some appreciation, and paying down your loan. So what’s the advantage of renting? First of all, this assumes the market goes up over 7 years…if the market is about the same price or drops, you’ll actually come out AHEAD by renting. You’ll also come out ahead by renting if you can make more than a 12% return on your down payment elsewhere. You’ll also come out AHEAD by renting if you’re only going to live in the home for 1-3 years and plan to sell it, unless you get lucky with a rapidly appreciating market. So it takes a lot of averages and assumptions to really decide which one is better. The biggest downside I see with buying is that it ties up capital that COULD be deployed in a business that would generate higher returns. For someone who only wants to buy an live there a few years and sell, it’s dangerous to assume the market will continue going upward in a short period of time. So the “cost” of renting is sometimes much cheaper than just owning the home for a few years. BUT….for those who plan to live in their home for more than 7 years or so, generally speaking buying is better. You basically lock in your cost of ownership by buying - you won’t have rent increases, you won’t have a landlord telling you what to do, and you have total control over the property. You also get the tax benefits of owning and you can build up equity in an appreciating asset. However, you’re tying yourself down and if you decide to sell after a year or two, you’ll likely take a loss unless your market appreciates in price enough to make up the closing costs and commissions. But long term, owning will be cheaper if you intend to live there long term. So like I said, determining which is cheaper really depends on quite a few variables - short term, it’s generally better to rent. Long term, generally better to own. And the longer you stay in a property, the more it usually makes sense just to own it. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 127649 Graham Stephan
How To Save For A House (Plus EVERYTHING else you'll need to know)
 
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Lets get back to the basics in terms of saving enough for a down payment to buy real estate, what you’ll need for lenders to give you money, and some things to prepare for before you start buying a house. Enjoy! Add me on Instagram/Snapchat: GPStephan Learn my exact strategies to help grow your career as a real estate agent to a six-figure income, how to best build your network of clients, expand into luxury markets, and exactly what you can do to begin taking your career to the next level…these strategies took me to $120,000,000 in sales volume: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ It begins with the following: Good credit - Anything above a 740 generally gets the best rates. 2 years worth of tax returns - This shows that your income is consistent and that you’ve built up some work history. Bank Statements and proof of income for the last 2-6 months - this way you can prove how much money you’re actually making and spending. With that, they can calculate what your debt to income ratio is - banks prefer those who save a lot, and spend very little. Cash reserves - sometimes it can be 3-6 months of mortgage payments, taxes, insurance, and a buffer in liquid cash or assets. Pretty much any time you buy real estate, you’ll need a down payment. Banks want to see that you have your own money at risk when you buy a house…this down payment forms your initial equity in the property. Generally 15-20% down is about what I’m seeing. If you don’t put down 20%, you’ll generally need to pay PMI which stands for private mortgage insurance. This is an extra cost that helps assure the bank you’ll be making your payments, since the less money you have in the deal, the higher the risk is that the bank will lose money in the event you foreclose. If you can qualify lower down payments and the numbers make sense, go for it. But in more expensive markets, you’re going to need more money down. Some other options might be available like a VA loan where you can buy with 0% down - so this will be up to you figure out what’ll be best. When saving for a property, it’s really about setting your priorities and deciding what comes first - if buying a property is your number one priority, it might make sense to cut back in other areas just for the sake of accomplishing this. What I use that helps a lot is Mint.com and PersonalCapital.com - I use these to track all of my expenses. You need to know where every penny is spent and exactly how much you earn. It’ll be nearly impossible to save as much as you can without doing this. One other strategy I like to use is to automate my savings. I have one bank account where all of my money is deposited and saved - this is Ally Bank. Then I have a Bank of America account for my expenses. I’ll only transfer a certain amount of money every month to bank of America, this means that everything else I have is pretty much already stashed away. Finally, generally banks won’t want the mortgage payment to exceed about 44% of your total income after expenses. Again, with this, it’s all cutting back as much as you can. You really have to make this a priority to save as much as you can. Now for those who just don’t earn much money in the first place, the reality is that you’ll need to either cut back on your expenses as much as you can and save the difference - or work to increase your income. There’s no way around it, there’s no way to sugar coat this - if you’re not earning enough money, you’ll need dedicate yourself to making more money. This is one of those things where if you want it bad enough, you will somehow find a way to make it happen. Now one more thing I do when it comes to saving is to keep it all in a high interest savings account. Most people want to invest it, although in the short term, there could be too much volatility to risk it in the markets. Ultimately, when saving up for a down payment, it really just comes down to income vs expenses - and once that’s handled, banks will look at the bigger picture to determine what you’d be qualified to receive. And patience and discipline here goes a long way - you will need to do this long term consistently. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 114819 Graham Stephan
You’ll NEVER look at money the same way again…in under 4 minutes
 
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Ever since learning about compound interest and reading books like Rich Dad Poor Dad, my outlook on money forever changed. And If you view money the same way, you can pretty much guarantee you’ll never run out of money and you can make it generate cashflow to last a lifetime. Enjoy! Add me on Snapcaht/Instagram: GPStephan Without the clickbait: Here’s what it is. Let’s say I have $10,000 in my account. I don’t see that as just $10,000…instead, I see that as $700 per year, for life. Or almost $60 per month that I can live off of for as long as I’m alive. For me, I might get about a 10% return by investing in real estate. Inflation eats away about 3% per year, leaving me with a net 7% return on my invested money. Meaning that for every $100 I invest in real estate, I’ll make $7 per year in profit, while still having my original $100. Now everything I do and think about is calculated in future monthly profits. So that $20,000 car is really worth $116 per month in profit. If I’m making $50,000 per month, I don’t see that as $50,000 per month…that’s $291 per month for life, PER MONTH. Basically one month of that will pay for a lifetime of my Toyota Prius lease payment without me ever having to come out of pocket. It’s even more impressive if you decide to reinvest your money. If you just decided to re-invest the 7% income that $10,000 generates, over 25 years that 10,000 will have grown to almost $55,000 at the same 7% return. So now when I see something that costs $1000…I think, it’s that really worth $70 per year for life? Or is that really worth almost $5500 in future money? And usually for me the answer is no, I’d rather the $70 per year and just continue growing that $70 per year until I can afford whatever costs $1000 without ever having to come out of pocket. My investments should be able to cover anything I want to buy, and at that point, you know you’ve made it. Now that you see it, it’s hard to view things the same way. I can look at almost anything and imagine what that would generate me monthly. It’s pretty ridiculous. Because people always want to know what to invest in, I invest in rental property where a cash on cash return would generate about a 10% return, and I also invest in an SP500 index fund where it has historically returned about a 7.2% return adjusted for inflation. There are plenty of investments out there to chose from depending on your risk tolerance and how much you want to make…. Bitconnect ;) For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 99470 Graham Stephan
A warning about Robinhood's 3% Checking Account…
 
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If it sounds too good to be true, it probably is…but does that apply to Robinhood’s new 3% Checking and Savings accounts? After reading the fine print, here’s what you need to know. Enjoy! Add me on Snapchat/Instagram: GPStephan Join Robinhood and get a FREE STOCK: https://share.robinhood.com/angelib296 Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ GET $50 OFF FOR A LIMITED TIME WITH COUPON CODE: THANKYOU50 The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c Robinhood just announced that it will now be offering a 3% Interest Rate on their Checking and Savings accounts to begin in 2019. What makes this an amazing offer is that “Robinhood Checking & Savings accounts come with no fees, minimum balances or deposit requirements.” Also, interest is paid out DAILY…that’s absolutely incredible. The “catch” here is that because Robinhood isn’t technically a “bank,” you’re actually opening a brokerage account where your money isn’t FDIC insured. So instead, they offer SIPC Insurance. SIPC protects you up to $250,000 in cash, or $500,000 in assets upon broker failures…this means that if Robinhood ever closed down due to financial difficulties and assets went missing, SIPC steps in to help return client’s money. This does NOT apply if Robinhood mismanages funds or breaks regulation. It’s not quite as strong as FDIC insurance, but it’s relatively safe as long as Robinhood is in compliance. Another small risk here is that the President and CEO of SIPC claims that “SIPC protects cash that is deposited with a brokerage firm for one limited purpose...the purpose of purchasing securities. Cash deposited for other reasons would not be protected.” Robinhood claims that because the checking and saving products are technically part of a brokerage account, they would be protected by SIPC like other brokerage assets. People can trade stocks and other assets through the brokerage using the money in these checking and savings accounts. Personally, this sounds a little sneaky of Robinhood to call this a “checking account”…but characterize it as a brokerage account. So how are they able to even pay out a 3% in the first place? The way I see it, this is their cost of customer acquisition. This is how much they believe ONE customer is worth to them, long term. They want people to talk about it, they want people to be Robinhood customers, and in order to do that, they have to do something DRAMATIC…otherwise no one would bother moving their money over. Fortunately for them, this is just going to be a Short Term loss…I have a feeling we’ll see ALL checking accounts offering a 3% interest rate in the next 10-15 months. And by then, they lose the early mover advantage of offering this before anyone else. Here’s what I think is going to happen…this is going to be a loss leader for the company. I also think Robinhood is going to SIGNIFICANTLY underestimate how many people will sign up for this service, as well. But as long as they have the funds, they will manage just fine. Now of course you run the small risk of them being a newer company that’s not FDIC insured…and the “Risk” is really only for an extra 1% compared to keeping your money in Ally, for instance…so is it worth the risk? Maybe. Also if something happens to Robinhood and they break the law, and SIPC insurance says “you called it a checking account, we’re not covering it”…you might be out of luck. The good news is that Robinhood doing this forces OTHER companies to be more aggressive with their checking and savings account returns, and I bet we’re going to see many other companies follow this move coming in January! For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 201346 Graham Stephan
House Hack: How to live FOR FREE by investing in multifamily real estate
 
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House hack: Forget having to make a rent payment or come out of pocket for a mortgage every month. This is exactly how you can essentially live for free by investing in multifamily real estate as a primary residence. Plus - if do it right, you can literally GET PAID to live for free. Here's how. Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c When you already have some savings and want to make the jump to becoming a home owner, one thing most people overlook is multi-family properties. These include duplexes, triplexes, and fourplexes. What makes this unique is that in addition to your unit, you have other units that you can freely rent out which can cover your entire ownership cost of the property. When you buy these properties correctly, your rental income from the other units will cover your entire mortgage, property taxes, insurance and repairs, essentially letting you live in one of the units for free. Not only that, but you can apply the rental income towards your loan, meaning you can often qualify for a much larger loan than normal. You’re also paying down your loan and building equity at the same time. My biggest recommendation to maximize the rental income is to look for vacant multi-family buildings that need cosmetic upgrades. This means you can immediately begin updating the property when you buy it - new floors, paint, bathrooms, landscaping are all cheap and make a significant improvement for rental income. Now of course, there are downsides of doing this. First of all, you will have to manage tenants and that can be a part time job in and of itself. You will also have some shared common areas - it’s not any worse than an apartment, but you will be in close proximity with your tenants. It’s not for everyone. But the good news is that when you’re ready to buy a house or upgrade, you can rent out your unit and you have a great cash-flowing rental property for you to keep long term. Essentially when this is paid off, it could be your retirement money that keeps cash flowing month after month. Or, you can live there long term and bank as much money as you can knowing that you don’t have be out of pocket every month for housing payments. Add me on Instagram: GPStephan Add me on Snapchat: GPStephan Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 404990 Graham Stephan
How to find a good deal / off market properties in Real Estate
 
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As an investor, buyer, or wholesaler, finding a good deal in Real Estate can be time consuming and nearly impossible in a seller’s market, but it’s totally doable. These are a few of the top strategies I use to find the best deals and possibly find some off-market opportunities in real estate. Add me on Snapchat/Instagram: GPStephan Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c First, you need to see EVERYTHING you can on the market. Everything. You won’t be able to know a good deal if you don’t already know everything else on the market and what it’s selling for. Without a solid foundation of how one home compares to another, you won’t be able to realize a home’s true value. Next, see homes as soon as they come on the market. You should be getting notified hourly about every new home that comes up or reduces its price. If something comes up that looks interesting, go and see it immediately. If it’s a good deal, which you’ll know by seeing everything else on the market, write an offer immediately. You should also focus on listings which have been on the market for a long time that people may have forgotten about. Sometimes these listings get overlooked, and sometimes the owner is extremely motivated to sell but won’t want to reduce their price quite yet. Ignore how the pictures look - sometimes great listings have the worst pictures, and the worst listings have the best pictures. Instead, focus on the location, square footage, condition, and price. When trying to find a property off market: Don’t be afraid to go door-to-door. Unfortunately it’s time consuming and many times nothing will pan out, however if you find the one home that will sell at a reasonable price, all of your time spent will be worthwhile. You can also send letters out to everyone in a particular area asking if they would sell. This can be expensive and time consuming depending on how many you send out, but one deal will pay for itself, plus some. Finally, looking through past listings which never sold could be a good option. You know they thought of selling at some point, so there’s a higher likelihood they’ll still sell. With these above options, you’ll have a great chance at finding a good deal - even in a seller’s market. I use these same strategies above and it’s worked very well, both for myself and for my clients. For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 38459 Graham Stephan
Couldn’t handle it...why I just hired a property manager
 
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The time has finally come. I finally hired a property manager while I invest in real estate, after 7 years of managing the my rentals myself. Here’s why and what led me to that choice - enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 OFF + FREE Coaching Call FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c I ended up buying two houses and a triplex in late 2011 and early 2012. Since then, managing them has been extremely easy. For the most part, it took me 1-2 hours per MONTH of work to manage 5 tenants at the time. Most of this time was spent making sure rent had been paid, cashing rent checks, making sure bills were paid, and just generic accounting. If something broke, I’d just call a contractor to go out and fix it. I also rarely had vacancies.. My rental landlord philosophy was this… I generally don’t raise rent, unless it’s a unique situation or cash flow issue. For instance, on my original 3 properties, I’ve only raised rents when a unit becomes vacant. I’ve had some tenants since 2011 that are paying the SAME rent since back then. Am I leaving money on the table? Sure. But on the upside, I have really, really great tenants that take really good care of the place, treat it like their own, always pay on time, and are all around really awesome people, making it easy for me to manage. They have zero desire to move since they’re paying so much less than they would if they went somewhere else and in return, it’s easy for me. It’s a win win. But recently the unthinkable happened…a tenant had to move and relocate for work. And now my vacant place needed a little work - just minor fixes, re painting some stuff, etc. And finally, at that point, I thought about it…the time it would take for me to drive an hour each way just to go there, the time it would take to coordinate a walk through, meet and screen tenants, handle payment, etc…just wasn’t worth it. My time was better spent doing just about anything else. And finally, it clicked…I gotta hire a property manager, I just can’t handle it myself. So I did some research online, found a recommendation…did some negotiating back and forth for a day on prices between that and another company, and settled on a flat 8% management fee, everything included, and I moved forward. My reasoning now is that my time is way more valuable doing anything else other than managing a place, and the money I spend will save me more money that I can make elsewhere. So I did it…I hired a property manager for my first house. Now remember, I’m still managing my other 4…that’s really easy. But if I have another vacancy, the management company will get that one too. And eventually I’ll slowly phase the management company in to replace all the work I currently did. I’m only a month into this so far, but overall I like it. It’s amazing to be “Stress free” and have that distance between you and the tenant. I like that someone else handles it all, and all I have to do is simply just collect the check…I’m a little paranoid that something might fall through the cracks if I’m not micro managing it, but I’m doing my best just to let someone else take over. So that’s the story, and that’s why I hired a manager for one of my properties. If this goes well, I’ll slowly phase it in to everything else and have real estate investing become 1-2 hours per month more passive. For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 68652 Graham Stephan
I’m over $1 MILLION in Debt (Lessons of Leverage in Business and Real Estate)
 
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I’m over $1 MILLION dollars in debt, and here’s why this is actually a GOOD thing and how you can leverage debt can make you more money. Enjoy! Add me on Snapchat/Instagram: GPStephan Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ So here’s why I’m a million dollars in debt - there’s a big difference between good debt and bad debt. The reality is that almost every successful business, at some point, needs leverage if it’s to grow exponentially…especially in real estate…and how you manage debt could either make or ruin you. Think of debt a like fire. Fire could give you warmth, cook your food, bring you light…or it could burn you. Debt is very similar. I grew up in a family that was wrecked by debt…I grew up thinking debt was awful and that credit cards were the worst thing ever. But as I began to associate with people who were just insanely wealthy, I realized…these were people who weren’t afraid of debt. They embraced it and worked the system to their advantage. Bad debt: This is when borrow money to buy stupid things that depreciate in value and doesn’t make you money. I shouldn’t even need to explain it because this is pretty self explanatory. Good debt is money that you borrow to make you more money. Good debt is used as a tool to increase your cash flow by borrowing money at a cheaper rate than your money makes you. And right now, we’re at the end of an opportunity of borrowing cheap money - that’s why I’m trying to grab as much as I can while rates are still overall relatively low. This is why I’m over a million dollars in debt…I have one 30-year loan at 3.375% interest rate, and another one at 4.5% interest rate…my investments make way more than this, and I’m able to profit the difference. It allows me to invest way more long term and increase my cash flow. This is also why there’s absolutely no reason for me to pay this down early…I can pretty much invest my money anywhere and get higher than a 4.5% return, so it makes sense to invest my money than pay down low-interest, tax deductible debt. So what does this mean for YOU and how can this help YOU? Knowing the difference between good and bad debt will help you evaluate what you can do to maximize your profits and the amount of money you make. If you’re borrowing $10,000 at a 5% interest rate, but your money is making you 10% elsewhere…that’s a no brainer. Borrow the money, make 10%, pay 5% in interest, and you’ve just got a “Free” 5% without using your own money. This is basic real estate 101, but it also applies to just about any business. The tricky part, from my perspective, is when you start borrowing money in the 6%+ bracket. The higher your interest rate, the tighter the margins, and the more closely you need to evaluate if it’s worth it. If you’re borrowing in the higher tiers, you need to be absolutely sure you’ll be making a higher return and that it’s sustainable…at a certain point, it becomes more advantageous to pay down debt than re-invest. If I had an 8% loan, you bet I’d be aggressively paying that down as much as I can…but a 3.375% loan like I have on one of my homes? Nope. Keep it forever. So if you get to the point where you need to grow your business or if you decide to invest in real estate, know that debt CAN be good when managed appropriately…it’s a little like playing with fire, as I mentioned earlier. Used appropriately, it’s great…and it’s how I’ve been able to get some pretty good returns in real estate. So don’t be afraid of debt, but manage it carefully and consider what your money is really worth! For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 69081 Graham Stephan
The 80/20 Principle: How I went from $140k/yr to $500k/yr by working LESS
 
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The Pareto principle (aka 80/20 rule) suggests that, for many events, roughly 80% of the effects come from 20% of the causes. Here’s how I maximized this to increase my income and work LESS at the same time - enjoy! Add me on Instagram/Snapchat: GPStephan Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Given the 80/20 rule, you generally will find that you spend 80% of your time chasing that extra 20% of result. In THEORY, you should be able to do 20% of what you’re doing now and still get 80% of the result. So that’s what I did. I looked past all of my clients since the BEGINNING of my career and found the commonalities between the clients that produced the most income vs the ones that took up the most time. I found that I spent 80% of my time chasing little lease deals between $3000-$6000 per month that paid very poorly, and that was consuming most of my time. But even though my motto was “work with these people, eventually they’ll refer you more business which leads to the 80% of my income”… but I found that overall, those were the clients that generally didn’t buy after a few years and didn’t refer me business. Instead, I found my clients that were spending $8000-$30,000 per month were the ones that would end up buying and referring me the business that led to much larger commissions, not the lower end price ranges. So what did I do? I turned down every lease under $8000 per month. I stopped going after those listings and I stopped working with those clients - that freed up 80% of my day. I then focused that remaining 80% of my time on meeting more clients in the $8000-$20,000 price point that were statistically more likely to lead to more income and more business. And that one difference alone worked…I made an extra $50,000 JUST from that one change, while also working less. The next year, the same thing…but I took it a step further. I stopped taking listings that were overpriced. I stopped working with buyers who had unrealistic expectations that I couldn’t change. I focused my time on ONLY working with the people who were ready and realistic. By focusing only on those, it freed up more of my time to focus on meeting MORE people that fit that bill. And guess what? My income went up ANOTHER $50,000 per year, and I worked less. And the less I worked, the less stressed out I was, and the less stressed out I was, the better I did with my clients and the more money I made. And using this technique is what led to over $550,000 in gross commissions last year without any prospecting, and without driving myself crazy. First, focus on the area where you get the highest ROI. Either where you get the most done, make the biggest impact, or make the most income. There will almost always be an 80/20 rule at plays…from there, really narrow it down and identify what that it and WHY that is. Second, identify where you’re spending 80% of your time chasing that last 20%. Find out where you’re spending most of your time…and make the decision to cut it, automate it, or outsource it. Third, do more of what WORKS with your 20% output that generates most of your results. If you find that you get 80% of your business through cold calling, for instance…do more cold calling. If you’re in e-commerce and find that 80% of your income comes from iPhone cases…do more iPhone cases. Focus on replicating the 20% of your cause that leads to 80% of the effect. This is about optimizing as much as possible and working efficiently, not harder. It’s about remembering that the minority of your efforts produce the majority of your results. Then identifying this and leveraging it to do MORE of what works, and less of what doesn’t have the best ROI. This frees you up with MORE time and by focusing on your 20% that generates 80%, you should be able to INCREASE your revenue or productivity rather quickly - while optimizing at the same time. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 78831 Graham Stephan
Pros and Cons of Stocks vs Real Estate: Is one better than the other?
 
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So which is the "better" investment...stocks or real estate? In this video, I do my best to break down the pros and cons of each option and weigh the results against the potential return one could possibly expect to achieve. Since picking individual stocks can vary so widely in price, as would flipping a house, I'm comparing long term rental real estate to an total stock market index fund. It’s a hard question to answer, and a lot comes down to personal preference, but these are some things to take into consideration before we break down the numbers. Just for clarification - picking individual stocks, day trading, or swing trading is NOT included - you could achieve much higher returns and many people do this. However, since you could also invest and flip real estate, I felt this would be an unfair comparison with too many variables - which is why index funds vs rental properties were used. Each have their upsides and downsides… Pros for index fund investing: -It’s completely passive. Once you spend a few minutes going to a website and buying a stock, you’re done. -You don’t need tens of thousands, or hundreds of thousands of dollars like you generally need with rental real estate. -There are no hassles of working with tenants, fixing items, or maintenance. -You can buy index funds within a tax advantaged account such as an IRA or 401k. -Stocks are fairly liquid and you can cash out quickly when you want to sell. Pros for real estate investing: -You have total control over what you buy and at what price -You can take advantage of undervalued properties and areas -You can add square footage, remodel, and gain quick equity and increase cash flow -You can leverage your money and achieve potentially higher returns -You can receive consistent rental income In terms of the raw returns, generally real estate CAN yield a higher return, usually if you leverage your money - HOWEVER, the higher return is balanced by the amount of work, skill, and knowledge needed to find the right deal and close on the right price. Real estate is also not an entirely passive investment, so even though you can make significantly more, it also comes with more work. If you’re looking for something entirely passive, stocks will likely yield a little less but it comes with the ease of not having any responsibilities or obligations. So much of it comes down to personal preference. My recommendation is to do both :) Add me on Snapchat: GPStephan Add me on Instagram: GPstephan For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 70120 Graham Stephan
Real Estate Investing 101: Top 5 Most PROFITABLE Renovations
 
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MeetKevin and I discuss the five most profitable renovations you can do when investing in Real Estate to get the highest return possible, whether it’s a rental or flip…Enjoy! Add me on Instagram/Snapchat: GPStephan AMAZING LED LIGHT-UP TOILET GADGET (MUST HAVE 2018): https://amzn.to/2JRKO7R Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c MeetKevin’s Channel: https://www.youtube.com/user/KevinPaffrath MeetKevin’s IG: RealMeetKevin The Most Profitable Home Renovations: First: Kitchen. This is often the first thing people look at when checking out a new property. Opening the kitchen and creating an open floor plan is often the easiest “bang for the buck,” but renovating a kitchen doesn’t need to be expensive. Oftentimes painting existing cabinetry and changing the hardware can be sufficient. Sale sections at Home Depot also work well! Second: Flooring. Luxury Laminate Flooring is essential, especially in a rental. When flipping real estate, it’s OK to go higher end with real hardwood floors depending on the area - but for a rental, most laminate flooring is just as good, cheaper, and more durable. Third: Bathrooms. Again, this doesn’t need to be overly expensive. New vanities are fairly inexpensive. You can often keep existing tile and re-glaze it a different color to make it more modern. Fourth: Lighting. Add recessed lighting - It makes a massive difference. If you have popcorn / acoustic ceilings, scrape them and add recessed lighting at the same time to save on labor. Dimmable lights also go a long way. Fifth: Landscape. This is frequently overlooked but it’s an easy way to add to the curb appeal on your home and stand out from everything else. For a rental property, DO NOT plant intricate landscape that tenants could neglect. Instead, chose tenant-proof landscape options: gravel, mulch, and low-maintenance greenery. Succulents are great. Sixth Bonus Tip: Baseboard. 4” baseboard around the new floors and around windows/doors adds a sophisticated, upscale vibe to the home for an extremely inexpensive price. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 52214 Graham Stephan
How To Buy Your First Rental Property (Step by Step)
 
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How to invest in real estate: Here’s exactly how you can buy your first rental property, step by step, and the process involved. Enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 off for a LIMITED TIME with code ThankYou50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c Step 0: Because this is where it starts, you’re going to need a downpayment. How to save for a house: https://www.youtube.com/watch?v=qyQOoCmamIk&t=2s Step 1: Unless you’re buying a property outright in cash, which I have a feeling is very few of you watching…get your credit in order. How to build your credit: https://www.youtube.com/watch?v=ukaWAjgkH9M&t=4s Step 2: Make sure you have your tax returns prepared. If you’re self employed like me, a lender will ask for your last 2 years of tax returns and take the average income of those two years. Be ready for this! Step 3: TALK TO A LENDER FIRST BEFORE YOU DO ANYTHING. First, you’ll know EXACTLY what you can qualify for so you won’t waste your time. Secondly, if you find the right place, the lender already has all of your information so you can hit the ground running. And anytime you find a spot that’s worth buying, chances are, you’re competing with other people who want the exact same thing. So timeliness really, really matters here…the faster you are, the better the deal you can get. Step 4: BEGIN LOOKING AT PROPERTIES. This is really meant to be the fun part…look at EVERYTHING you possibly can within your price range. How to find a good deal: https://www.youtube.com/watch?v=9nHDT5XL4KY&t=36s Step 5: Determine cash flow. The reality is that 95% of properties just don’t make sense to purchase for an investment…they lose money. It’s also the reality that at a certain price, EVERYTHING makes a great investment - it’s really important to understand these numbers. Three ways to make money owning real estate: https://www.youtube.com/watch?v=h8wNUaBgZTk&t=19s Mortgage Calculator: www.MortgageCalculator.org Step 6: Look at properties that need minor cosmetic renovations! Most profitable renovations: https://www.youtube.com/watch?v=kW76liexoBY&t=2s Biggest Mistakes: https://www.youtube.com/watch?v=Tof5GMD0akc&t=46s Step 7: MAKE OFFERS ON PROPERTIES! Expect that not every offer will work out…for me, I lose out on many offers because I offer a price where the numbers make sense, and if it’s any higher than that, I won’t buy it. Step 8: Do your inspections! Make sure to do as many inspections as you possible can. Check the roof, the foundation, electrical, plumbing, if there are any leaks, bring in contractors for bids if it needs work…the more you do, the better. Step 9: Understand escrow costs: https://www.youtube.com/watch?v=cN7n3wC9eAQ&t=64s Step 10: RENOVATE IT! Video on renovations: https://www.youtube.com/watch?v=iBOeQv7zzgI&t=175s Step 11: RENT IT OUT! If you want to rent your place for top dollar, use REALLY good pictures, pick up your phone on the second ring, and be available anytime to show it. I promise if you do this, you’ll have no problem renting it out quickly. I personally like using Apartments.com, Craigslist, Zillow, Redfin, Trulia, and Reatltor.com…the more places you property is, the better. Never just limit yourself to one of these, DO THEM ALL. Tenant screening 101: https://www.youtube.com/watch?v=hS8lIrzEwv0&t=154s STEP 12: SCALE UP! Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 127080 Graham Stephan
How to Invest $1.6 BILLION DOLLARS if you win the Mega Millions Lottery
 
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Have you ever been faced with the dilemma of what happens when you win the $1.6 Billion Dollar Jackpot, and you don’t know what you should do with all of that money? Here you go…enjoy! Snap/Insta: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 off for a LIMITED TIME with code ThankYou50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c According to math, your chances of winning the lottery are a measly 1/302,000,000. To put that in perspective, you are 4 times more likely to be hit by an asteroid, and 431 times MORE likely to get struck by lightning than win the lottery. But that can’t stop us from dreaming, right? Now in order to understand what to do with this huge windfall, it’s first important to recognize why so many lottery winners go broke. It’s estimated that a THIRD of all lottery winners declare bankruptcy, and 70% lose all of it within just a few years. I discovered that type of person most likely to play the lottery in the first place had very little financial education and very little savings…hence, why they’re playing the lottery. It’s estimated that 40% of lottery ticket purchasers in California were unemployed. Then, you combine that with ALL of your friends and family then asking for handouts, risky investments, extravagant purchases, and it’s easy to see how winning the lottery could become so stressful. So what can someone do to potentially AVOID these issues? FIRST thing you should do IS TELL NO ONE. SECOND: Get an attorney. Many lottery winners chose to set up a blind trust, within a trust, to remain as anonymous as they can when they claim their prize. THIRD: Take the lump sum. When you look at the money invested over the long term, you’ll almost ALWAYS come out ahead after 29 years by taking the lump sum and investing it, than by getting the annuity. FOURTH: How to invest it? Assuming you took the lump sum of $1.6 billion dollars, you should be left with $900,000,000, and $450,000,000 net after taxes. Now if this were ME, here’s how I’d distribute this: $150,000,000 in a low-fee Total Stock Market Index Fund by Vanguard. Assuming you spend just 3% of this amount annually, that should give you about $375,000 per month in income without ever touching the principle. $150,000,000 in a low-fee Vanguard Total Bond Market Index Fund with Vanguard. This would give you a very safe, stable investment that you can rely on. It would also give us another $375,000 PER MONTH in stable income. $50,000,000 and spread that throughout some safe, triple-net commercial real estate in highly dense cities. Lets assume you only spent 3% of this income annually, that gives you another $125,000 PER MONTH in income. $100,000,000 and spread that throughout some safe RESIDENTIAL real estate, mainly large apartment buildings in densely populated cities. This is another $125,000 PER MONTH in income. $50,000,000 is the amount you now have over. I’d personally decide to keep $10,000,000 as a cash buffer, and then spend the remaining $40,000,000 on whatever you see fit. At the same time, your investments will also bring in a total of $1,000,000 PER MONTH pretty much indefinitely without ever touching the principle. For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 48216 Graham Stephan
How to get leads in Real Estate
 
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I'm explaining exactly how I got my clients in real estate and the methods I still use today! Snapchat/Instagram: GPStephan Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c When I got my real estate license at 18 years old, I knew NO ONE looking to buy or sell. My family wasn't in real estate, they weren't giving me business, so I had to do what works: 1. Letting everyone know you're in real estate and that you're there to help 2. Doing open houses every single Sunday to meet potential buyers and sellers. The more face-time you can get in front of new people, the better. Follow up with your open house contacts. 3. Cold calling and door knocking . Disclosure: I've done this in the past and stopped. I personally didn't see results from it. It's not something I enjoyed doing. But I'm including it regardless because it's still a viable option that many people use. This also includes targeting FSBO, expired listings, mailers, etc. - it works, there are ways to be successful, but I personally don't use them. 4. Zillow, Trulia, Redfin, Craigslist, WestSideRentals.com - I'm NOT talking about paying to advertise on these sites. I don't do any paid marketing. Paid marketing can work, I've done it in the past, but I'm referring to submitting your listing on the sites and getting calls from it. Sometimes it automatically populates from when a property is listed on the MLS, but if you have the authorization to advertise a property that's not yet listed, you can upload it manually and get calls. 5. Craigslist. This is the foundation of my entire success in real estate. I started with doing leasing on Craigslist which blossomed into $15,000,000-$20,000,000+ per year in sales after a few years. I'd meet lease clients on craigslist, help them find a home to rent, and they would refer me other clients, would want to buy something themselves, and they would become repeat clients. Craigslist took me nearly 4 years to begin seeing significant monetary results, so it's NOT a "get rich quick" tactic. But it's a great way to meet prospective future buyers in an area that not many agents are doing. 6. From the first 5, you'll begin to see repeat and referral business. This grows over time and after a few years, this type of business will become more prolific - if you're doing a good job. 7. There's an abundance of material to learn just about anything you want to. However, the unfortunate truth is that very few people will actually apply what they learn - it's great to listen to in theory, but without action and consistency this means nothing. So I recommend applying some of these and see what works for you. Thanks again for watching! Does anyone actually read this? If so, what are the chances someone would read this all the way through AND make it to me questioning if someone is actually reading this? If you're still reading and haven't subscribed....SUBSCRIBE RIGHT NOW! DO IT! Because there's more car videos and real estate videos in the making. And that's going to be epic. Add me on Snapchat if you're into it: GPStephan Since I get asked so often...suggested reading: Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Agent: http://goo.gl/TPTSVC The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 37680 Graham Stephan
Buying Real Estate for only $100: REITs vs Rental Property
 
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Here’s a way you can invest in real estate with as little as $100…it’s a REIT. But how does this compare with just straight up owning rental property, and is it even worth owning a REIT in the first place? So lets analyze the pros/cons of each! Add me on Snapchat/Instagram: GPStephan The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Like I mentioned, this is an investment trust which acts as a holding company for real estate. By investing in this company, you thereby are entitled to some of their profit, in the form of dividends. Pros to doing this: -There’s pretty much zero barrier to entry. Anyone with $50-$100 can invest. -It’s also really easy to buy into a REIT…open up any stock trading website or app, and boom, you’re done. You don’t need to go out looking for properties that cash flow for weeks or months. -There’s also no management aspect of this. With a REIT you don’t do ANYTHING. You just buy it and forget it…done. -It’s also really, really easy to sell…no need to pay a 5% commission, no need to show your home to buyers, no need to negotiate prices…it’s just as easy as buying a REIT. You just click “sell” and you have your money almost immediately. -With a REIT, you’re really well diversified. Negatives: -How the income YOU get is taxed…you get paid in the form of a dividend. This is usually an amount that’s paid out quarterly, but it’s taxed as though it’s earned income, which means it’s taxed at your highest marginal rate. -Because REITs pay high dividends, they usually don’t increase much in price. -The third downside is that you don’t have any control over your investment…unlike a property where you can pick the color to paint the walls, how to remodel the property, or how to manage the property and how much to rent it for - with a REIT, you have zero control. -You also can’t build equity in a REIT like you can with real estate. Investment Real Estate Downsides: -High barrier to entry…you generally need a large down payment and will need to have the income to support the loan payments. -The second downside to owning real estate is the time commitment. Finding the right deal is essential - and it can take a lot of time. Then you have the time aspects of managing a rental property. -Lack of immediate liquidity. I can’t just sell my property for top dollar within a day - it just doesn’t happen. Rental Real Estate upsides: -You can leverage your money. While yes, a REIT does invest in leveraged properties and you own a portion of that, generally the returns aren’t as high as when you do it yourself. -Your income from rents is generally tax free. When owning physical real estate, you can depreciate the cost of the property against your rental income. Compare this to paying 22-37% taxes on dividend income. -You have total control over your investment. This means you can find a really, really good undervalued deal where you make a significant amount of money. -You’re able to borrow against the equity in your home - completely tax free. So at the end of the day, this is what it really comes to… If your goal is long term equity, owning physical real estate is the way to go. When you buy an investment property, you’re continuously building equity in a tangible asset. Having more equity in your asset also gives you the ability to refinance over time and use the proceeds to buy additional assets and grow your portfolio. More work, more time involved, more money long term. However, if you have a little money and want some exposure to real estate, a REIT could be a nice way to diversify. However, since dividends are taxed as ordinary income, it’s best to hold the REIT in a tax advantaged account like a 401k or Roth IRA to avoid paying taxes. This way you get all the benefits of having exposure to real estate, without the tax consequences of paying a stupid amount of taxes on it. Not financial advice ;) For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 37311 Graham Stephan
How I sold my first house at 19 for $3,550,000
 
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I began my real estate career at 18 years old by working as a Real Estate Agent in Los Angeles - without any connections or experience. This is my story about how I sold my first house, almost a year after I began my career, for over $3,500,000. I hope this story helps anyone who’s thinking about getting any real estate! Enjoy! Add me on Snapchat/Instagram: GPStephan For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 38826 Graham Stephan
The 5 WORST Money Mistakes To Avoid In Your 20’s
 
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These are the Top 5 WORST Money Mistakes people make in their 20’s, and how to avoid them - enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 off for a LIMITED TIME with code ThankYou50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c Shout out to Phil Towns #1 Rule investing for the video inspiration! 1: Substantial student loan debt. A recent study determined that the average student loan amount for the class of 2016 was $37,172. Even worse, it’s forecasted that the total outstanding student loan balance will reach 2 TRILLION DOLLARS by 2022. Absolutely re-consider if college is the right choice and if you need a degree for what you want to do. If so, consider a community college for 2 years to save the money, then transfer. It makes no difference (except to your bank account. 2. Waiting to invest. One of the BIGGEST advantages that you have in your 20’s is TIME. Not only can you ride out any short term fluctuations in the market, but you can fully take advantage of what’s called COMPOUND INTEREST. This is why the money you SAVE and INVEST in your 20’s is arguably the most IMPORTANT money you have your entire life. You can basically get 40 years for your investments to grow into something massive, simply because you have time on your side, working in your favor. 3. Buying an expensive car. Assuming you’re just a car enthusiast and want a fun car to drive, there’s nothing wrong with buying a nice car in your 20’s…just make sure you can afford it. Ideally, less than 10% of your take home salary should go to a car payment…this means just get a Miata or S2000 instead of a Porsche 911. Take the budget route until you’re in your 30’s. 4. Renting an expensive apartment. Renting a place is awesome, especially if this enables to you to save and invest elsewhere. And you should also live somewhere you’re happy with. But throwing a TON of money at a cool apartment in your 20’s is a waste. An expensive apartment in your 20’s is simply going to take away from the lifestyle you can live when it DOES matter…it’ll take away from future financial security, from future investments, and from future retirement. The more money you can save here, the more money you can have elsewhere. 5. Not keeping track of your finances. Very few people actually do this, but it will make a massive difference. To do this, just sign up on Mint.com or PersonalCapital.com - it’ll automatically track your spending. From there, you can reasonably start a budget, track your finances, and then cut back or save as needed. If you do this, you’re going to be ahead of 99% of the population…and it doesn’t take much time to do this. Maybe 10 minutes a week, if that…this is really, really simple stuff. The time it takes you to watch one of my videos and hit the like button…that’s how long it takes ;) For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 97778 Graham Stephan
Real Estate Revealed: How to AVOID Paying Taxes...(Legally, of course)
 
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Ever wondered how so many people seem to avoid paying taxes…legally, of course, when investing in real estate? Want to know how YOU can avoid paying taxes, legally? Here’s how - enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 OFF + FREE Coaching Call FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Number 1: The first is that pretty much anything in real estate that relates to your business is a write off against your income. Just about anything you related to the income you make on a rental property is a BUSINESS expense, and that’s subtracted from your total income - and you pay less taxes. Number 2: Depreciation. This is probably THE best write off in real estate. This is often how people can make thousands of dollars in profit every month, but on PAPER, they’re claiming they LOST money. In some circumstances you can even use this loss to offset other income you made! Number 3: This is probably the most well known, and probably one of the coolest write offs in real estate… but for those who aren’t familiar with it, this is the 1031 Exchange. One of the benefits of investing in real estate is that you can INDEFINITELY defer paying taxes when you sell a property, and “exchange” it for another property to avoid paying tax on your profit. Number Four: This would apply to most of you watching, especially if you own your own home, is the capital Gains exclusion. This capital gains exclusion means that you can make $250,000 TAX FREE PROFIT if you’re single, and $500,000 TAX FREE PROFIT if you’re married when you own a primary residence and have lived there for 2 of the last 5 years. Number 5: There’s no tax on appreciation until you sell. This is similar to owning a stock that goes up in value, you don’t pay taxes on that stock until you actually sell…until then, any profit you’ve made is called an “unrealized gain.” Same thing in real estate. If the property goes up in value 5% annually, your net worth goes up without you owning a dime in taxes. Number 6: The cash-out refinance and HELOC, which stands for Home Equity Line Of Credit. The benefit of this is that you get access to your money, totally tax free, without technically “making” money. In the eyes of the IRS, you don’t pay tax until you actually sell…and because you don’t sell, you don’t owe any tax. Same principle applies to a HELOC. All of the money you pull out is tax-free since technically it’s a loan and you need to pay it back. Number 7: Rental income doesn’t pay self employment taxes, which consists of social security and medicare taxes. This means that rental income, right off the top, is taxed 6.2% LESS than that same income you’d make from you job - or 15.3% less if you’re self employed, not even including all the deductions, tax write offs, depreciation…so you can see, real estate is a good way to make some money ;) Number 8: Mortgage interest deduction. Now this is a great one that not only applies to rental properties, where you simply just use that as an expense against rental income, but this also applies to your personal residence. The IRS says that you can deduct the interest you pay on up to $750,000 of your mortgage against your earned income, lowering the amount of taxes you’d owe. Finally…number 9…the holy grail for real estate people…is the title called “Real Estate Professional.” Becoming a “real estate professional” opens up a lot of advantages. The biggest advantage of being a real estate professional is that you can use your PAPER LOSSES to OFFSET other earned income! Remember: this is not financial advice, and CONSULT A CPA for any of your specific tax questions. Everyone is different and it’s important to hire someone for your own specific tax advice and needs. For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 73653 Graham Stephan
The 7 BEST Tax Write-Offs when Investing in Real Estate!
 
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Here are my 7 favorite tax write offs when it comes to owning real estate or investment property and a few examples of how each of them apply. Enjoy! Feel free to add me on Snapchat / Instagram: GPStephan Owning real estate is much more than just owning a cash producing property that provides monthly profits, what makes it really unique against almost every other investment is the tax write offs associated with it. In real estate, a return could be calculated in so many different ways besides “I get $1000 per month in rent.” What makes real estate really special is that you could often make money every month, but on paper show a loss…and this cancels out your tax obligation. Here are some of the tax write offs that make real estate a phenomenal investment. 1. Mortgage interest write off - On an investment property, the interest that you pay on your mortgage is a write off against your rental income. On a primary residence, the mortgage interest on the first $750,000 could also be a write off, potentially saving thousands in owed taxes. 2. Property taxes - This is another deduction you can write off against your rental and personal income. As a primary residence, you’re allowed to deduct the first $10,000 of your property tax against your personal income As an investment property, you can still deduct 100% of your property taxes against your rental income. 3. Depreciation - This is what often leads you to be positive in your bank account each month, but on paper you could show a loss, lowering the amount you’d pay taxes on. With rental property, you’re allowed to depreciate the asset over a certain period of time. Cost segregation analysis can sometimes speed this dramatically. However, keep in mind that because you’re depreciating a property, eventually the tax you depreciate will need to be paid at the time of sale if you DON’T 1031 it, so it’s not a tax avoidance entirely, but this works great if you plan to keep the home as a rental or eventually do a 1031 exchange later on. 4. 1031 exchange. This is a very popular real estate tax benefit that almost every real estate investor uses. This means that you can sell your property and “Exchange” it for a like property of similar or greater value without paying taxes at the time of the same sale. This is how many people can buy and sell millions without ever paying capital gains taxes, as long as they don’t sell and continue 1031 exchanging properties. 5. Capital gains exclusion on a primary residence: As long as you’ve lived in the home for 2 of the last 5 years, you can sell a your primary residence up to $250,000 HIGHER than you bought it for if you’re single, or $500,000 if you’re married, without owning capital gains tax. 6. Cash out refinance - When used against a rental property, you can refinance the extra equity in the property and pull out the profits tax free. Even though this is technically a loan you have to pay back, you’re borrowing from the existing equity and using that money without paying taxes on the money that hit your account. This gets a little more complicated as a primary residence, but on a rental, this is a huge advantage because the new mortgage you pay on the amount pulled out counts against your rental income…so you can use this money for pretty much whatever you want, hopefully just to re-invest. 7. Finally, rental property income is not taxed as self employment income, which carries a 15.3% self employment tax (not fun). But keep in mind this is also dependent on how you hold the property and specific ways you’re treating your income. Disclosure: I am not a tax consultant or CPA. These are just a few tax advantages I have used myself and I have simplified these significantly for purposes of explaining them on YouTube. Check with your own accountant or CPA because every situation is going to be unique. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 16537 Graham Stephan
The WORST TENANT I'VE EVER HAD (EVICTION)
 
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Here's my first experience picking a tenant when I first began investing in real estate. I didn't do my research and I definitely paid for it later on...this is that story. Enjoy! Feel free to add me on Snapchat / Instagram: GPStephan For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 162232 Graham Stephan
The 5 BEST Credit Cards for Beginners (2019)
 
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For anyone just starting out or who wants the best beginner / starter credit cards to build their credit score fast, these are the BEST options currently available, all completely free. Enjoy! Add me on Instagram / Snapchat: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c Number 5: The Discover It Secured Card https://www.discover.com/credit-cards/secured/ This is the BEST card to get if you don’t have a credit card or if you’re just starting out. The good thing about this credit card is that they’ll give 2% cash back at gas stations and restaurants, and an unlimited 1% cash back on all other purchases. The dashboard also allows you to check your FICO credit score so you can keep an eye on how you’re doing. All of this, with any annual fee. Number 4: Citi Double Cash Rewards Card http://citi.us/2ruNn49 This card gives you a whopping 2% cash back on ALL PURCHASES…it gives you 1% when you make a purchase, and then another 1% when you pay it off. And the best thing about this 2% cash back is that it’s consistent among all of your purchases. All with NO ANNUAL FEE. Number 3: The Chase Freedom https://bit.ly/2rx86Vc For signing up, they’ll give you $150 back after you spend $500 on the card within the first 3 months. They also offer 5% cash back on revolving categories up to $1500, as well as 1% cash back on everything else. Not AS good as the Citi Double Cash rewards card in the long term if you have a lot of spending, BUT the $150 sign up bonus definitely makes it worthwhile in the beginning. All for the low annual fee…of NOTHING. Number 2: Quick Silver Capital One https://www.capitalone.com/credit-cards/cash-back/quicksilver/ Just like the Chase Freedom, you’ll get $150 back after spending $500 in the first 5 months. The reason this can be SLIGHTLY better is that you’ll get 1.5% cash back on EVERYTHING, AND you’ll get no foreign transaction fees. So for people that like to travel, but who still want some cash back, this one is AWESOME. And again, all of this for the low fee…OF FREE. Number 1: Bank of America Cash Rewards Card https://www.bankofamerica.com/credit-cards/products/cash-back-credit-card/ This one offers a slightly higher signup bonus than the others…$200 back when you spend the first $500 on the card within the first 3 months. That’s really, really good. In addition to that, you’ll get 3% back on gas stations, 2% back at grocery stores, and 1% back on everything else. AND you’ll get a 10% bonus on these rewards when you redeem your cash back into a Bank of America checking or savings account. And again, like every other card I’ve mentioned here, this card costs you absolutely NOTHING…so this is meant to be a card you get and just keep forever. For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 87130 Graham Stephan
How To Invest in 2019 (How ANYONE can be RICH)
 
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Here’s a step by step guide of How to Invest in 2019 and the basic strategies to begin investing and growing your wealth - enjoy! Add me on Instagram/Snapchat: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 off for a LIMITED TIME with code ThankYou50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c First, for those just looking for a basic place to put their money, we have the almighty Ally Bank Savings Account that currently offers a 2% interest rate. You can also use a few other high interest bank accounts, like Barclays, Sychrony Bank, or American Express Savings…they all currently offer around a 2% return. Second…and this is arguably the most important part of this entire video…when it comes to investing, especially if you’re JUST starting out, is set up a Roth IRA. This is basically an account that you can put money into, and by the time you’re 59.5, you can pull ALL of your profit completely tax free without paying ANY capitals gains tax. Vanguard has a great option for a Roth IRA if you chose to invest with them. Now third, in terms of WHAT to invest in, my BIGGEST recommendation for MOST people out there is to invest in an index fund with a low expense ratio. When people always ask “how can you get an averaged 8% return”…this is pretty much my advice. Long term, historically, over the last century, the stock market has returned about 8% annually, adjusted for inflation, with dividends re-invested. Ok…number 4…and I figured I’d put this here instead of listing it back to back with the Roth IRA…but that’s setting up a Traditional 401k. This is an account where whatever you contribute is deducted from your total taxable income, and you can grow your investment tax free until you take it out at 59.5. This means that you’ll have MORE money to invest because you’re paying LESS in taxes. The “catch,” however, is that you’ll pay taxes on whatever you take out of your account after the age of 59.5. Now number 5…back to investment options. If you want to, or you’re interested in doing a little more work, you can invest in individual stocks. I personally recommend you try to do this within a Roth IRA or 401k to avoid getting taxed on your profits…but this isn’t required. You can just as easily open an account on Robinhood, invest in individual stocks commission free, and reap some pretty great returns. Now Number 6…my favorite…obviously…is investing in real estate Real Estate. Now unfortunately, this is one of those things that you’ll probably need to work up to. Especially if you’re just starting, unless you have a decent amount of money to already work with, I’d probably recommend saving up or investing elsewhere and then coming back to real estate one you have some capital to work with. Typically, you’re going to need about a 15-20% down payment - which could be a lot of money depending on where you’re planning to invest. But real estate is my favorite for a few reasons: The first if that you get immediate cashflow from renting it out. Second, because of all of the tax deductions, most of that income you make is tax free Third, you’re able to BORROW most of the money to buy real estate and slowly pay that off over time Fourth, you’re building up equity as you pay down the loan - so eventually you’ll own it outright And finally, the property is likely to increase in value over time This is why it’s no surprise that 90% of the world’s millionaires are created through investing in real estate…and I’m absolutely no exception! And finally…number 7…drum roll…is investing into a business. And this is probably where you can get the highest return from just about ANYTHING I’ve mentioned so far, or pretty much ANY other investment out there. Now these are just a few ideas for you to go out and consider…some people might say forex trading, swing trading, etc, the list goes on. But as I mention time and time again, the higher the return, the riskier the investment, and that’s absolutely something to take into consideration. For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 238521 Graham Stephan
The 5 Biggest Mistakes People Make In Their 20’s (And How To Avoid Them!)
 
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These are the 5 biggest mistakes I see people making in their 20’s - and how you can avoid them. Enjoy! Add me on Snapchat/Instagram: GPStephan Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ 1. The first, and probably biggest one is living above your means and living a lifestyle that you can’t afford. This is also probably the most common one I see - and it’s easy to get carried away. It’s also easy to fall into this if everyone around you is spending money to the point where you feel compelled to spend more than you normally would, so you’re not left out. While you shouldn’t necessarily hold yourself back for fear of spending money, you shouldn’t be worried about saying ’no’ if you really can’t afford something. Make sure you have a 3-6 month emergency fund saved up so you have a cushion in case something happens, and do your best to manage your expenses. And remember to always live within or below your means - you can always increase your spending later if you really want, but that’s easier to do once you already have a healthy savings. 2. The second mistake I see so many people making is not building up their credit score. Building up your credit as early as you can will give you a significant advantage later on if you ever decide to buy a house or invest in real estate, buy or lease a car, rent an apartment, or finance just about everything. This doesn’t mean you need to spend any more than you normally would, or you need to go in debt just to improve your credit score…just treat the credit card exactly like it’s an extension of your cash. When you’re over the age of 18, just go and get a secured credit card. Don’t get carried away, you don’t need to charge thousands on the card, just gas or food money every now and then and you’re good. 3. The third mistake is when people just wait around, expecting something to magically happen to them. The realization is that nothing will happen if you don’t take the initiative to make it happen. And it’s sad that most people aren’t taught how to actually go after what they want…in school, you’re told exactly what you need to do and when you need to do it by. But in life, no one expects you to do anything, and you won’t get handed anything. I see too many people just waiting for the right opportunities to come along, but they don’t do anything to actively seek out those opportunities. If you want something to happen, YOU will need to make it happen - YOU will need to be the one to decide what you want and how you will get there. 4. The 4th mistake I see if people being too afraid to take chances. Your 20’s are a time where you can AFFORD to take risks and be okay, because with each failure comes with the knowledge and experience of what not to do. Sometimes you’ll just need to take the leap of faith to pursue something and your 20’s is the perfect time to do that…before you’re tied down, before you’re married, before you have kids, before you have too much to lose…take the riskier career option. Start your business. Don’t be stupid, of course, but you can afford more risk in your 20’s than you can in your 50’s. 5. Stay healthy. Stay in shape. Exercise. Get enough sleep every night. Take care of yourself. When you take care of yourself, you’ll be sharper, you’ll make more money, you’ll be happier, and you’ll live longer. These are habits that are easy to start when you’re young and keep them consistent, than putting it off forever. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 102881 Graham Stephan
How to prepare for the next recession…
 
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It’s inevitable…we’re going to see a recession SOMETIME in the future. Here’s how you can prepare and still make a profit at the same time, enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 off for a LIMITED TIME with code ThankYou50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c NUMBER ONE: The first thing is that you’ll want to pay down any high interest debt. Now this is something you should do REGARDLESS of the market conditions…in a great economy, pay down high interest debt. In a recession, DEFINITELY pay down high interest debt. The LAST thing you need is high interest debt bogging you down. NUMBER TWO: Pay down variable rate debt! Any time you have variable rate debt, you’re really at the mercy of the FED…throughout the last few years, variable rates have been incredibly favorable given we’ve been in negative interest territory…but as rates go up, it’s going to begin costing you a LOT more money. NUMBER THREE: Keep 4-12 months of living expenses saved in cash. This one is huge…keep money sitting on the sidelines in a high interest savings account that you don’t touch. NUMBER FOUR: Keep your spending to a minimum. This means don’t get used to a lifestyle where it’s completely reliant on a strong economy, and if the markets go down, it’s unsustainable. NUMBER FIVE: DON’T over extend yourself! Don’t take on more debt than you’re comfortable with paying…Buy things you can afford to own out right, and only finance real estate on fundamentals with a long term outlook! NUMBER SIX: Don’t rely on only ONE source of income! This is simply too risky in the event you lose your job and all of a sudden you find yourself with no more money coming in, and then you’re frantically trying to take anything you can because you need to pay the bills. NUMBER SEVEN: KEEP SAVING! You should try to keep your savings rate consistent whether we’re in a great market, or a bad recession…if we’re in a great market, that’s awesome because that should allow you more room to save and invest. If we’re in a down market, keep saving so you can deploy cash back into the markets when everything is on sale. Do not stop saving just because you think the money will keep coming in… NUMBER EIGHT…last but not least, stay on course. You shouldn’t concern yourself about when the market is going to drop, if you should wait to buy, if you should try to time the bottom…the BEST thing to do is literally STAY ON COURSE. NUMBER 9…Make sure to smash that like button and subscribe! For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 53237 Graham Stephan
My BEST techniques for a successful Open House
 
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Here’s my complete comprehensive guide about how to hold the best open house and exactly what I do to make the most of it. Holding an open house is one of the most crucial parts of being a real estate agent - it’s a great way to meet clients/leads and help give your listing more exposure. DO IT. Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c Step one: Host an open house as often and as frequently as you can (I prefer every Sunday afternoon) Step two: Put up as many open house signs as you can - ideally 7-10+ signs in busy street corners Step three: Print professional marketing materials in color paper - NEVER black and white, dude Step four: Remember to turn on all the lights (smh….sad I have to remind people to do this) Step five: Play music/light candles (optional, but it helps - preferably Drake because his new album is lit) Step six: Serve food and water (optional) - I still highly recommend it Remember everyone that comes into your open house is there for a REASON - they’re interested in real estate. Make this most of this. Also treat everyone the same and everyone as an opportunity to do business. What to do when people walk in your house: Step one: Smile :) Step two: Try to build a personal connection with them outside of real estate - talk about whatever you might have in common! Step three: Have EVERYONE sign in Step four: Ask them open-ended questions: how did they hear about the open house? Step five: Give them a bit of background information on the home Step six: Before they leave, find out what they’re specifically looking for (house, location, price range, etc) Step seven: ALWAYS follow up with them consistently Step eight: The result: meet great future clients! Remember - you’re there to help them out. That’s your priority! Between everything above, you should have a successful open house - these are my best tips and techniques that have worked very well for me. Let me know if you have any questions! Thanks for watching! Add me on Instagram: GPStephan Add me on Snapchat: GPStephan Suggested reading: Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Agent: http://goo.gl/TPTSVC The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 12463 Graham Stephan
5 Things EVERYONE Should Know Before Buying a House!
 
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These are the top 5 things you should know before buying your first house, from the perspective of both a Real Estate Agent and Real Estate Investor. Enjoy! Add me on Instagram/Snapchat: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c The first, and biggest mistake is not to worry about minor cosmetic issues. I’m talking about referring to walking into a home and not liking the paint color. Or not liking the carpet. Or thinking the backsplash is ugly. Too many buyers get caught up in the small, easily changed details that they overlook the bigger picture and pass up an otherwise perfect house for something that can be changed out within a day or two for minimal effort. Anytime you’re checking out a property, look at 3 things: -The location. This is something you’re stuck with and can’t change, regardless of how much money you sink into the property. -The second is the floor plan. This CAN be fixed, but it’s just a matter of money. At a certain price, things just don’t make sense to fix - if you’re buying a property for $150,000 under market value, then maybe changing the floorpan can be justified. But if you’re buying at retail level and think the floorplan sucks, then maybe the house isn’t for you. -The third, like I mentioned, are cosmetic issues. These can easily be changed for very inexpensively, all things considered. Don’t get caught up here. The second thing to know is that when you see a property, it’s usually only during an hour in the day - sometimes a weekend afternoon, or a week day after work. But it’s important to understand wha the house is like throughout the day - sometimes what you could be a quiet weekend street is filled with back-to-back stop and go traffic during the week as everyone gets off work. The third is to consider neighbor noise and much like the first example, go there late at night or on weekends and see what the neighbors are like. Trust me on this one…while neighbors come and go, and chances are they won’t be noisy forever, at least have an idea what you’ll be getting into. Fourth thing to consider is commute times. Obviously this won’t matter if you’re buying an investment property, but for anyone else, figure out how long it’ll take you to get to and from work depending on traffic. Especially in Los Angeles, what could be a 15 minute drive at 2am might turn into an hour long commute at 6pm. Fifth, is to always get the home inspected - this is a common sense - I’ve never seen a home NOT be inspected, but I can’t stress the importance of this enough. Get the home inspected, and do as many inspections as you think will be necessary. Even if not to try to get a credit, but just to know what you’re getting into. Finally…as a 6th bonus tip for reading all the way through, because you’re the real MVP…don’t open up any lines of credit or buy anything expensive 6 months before getting your mortgage. The worst thing you can do right before getting a loan is to get yourself in debt or give the bank any reason not to give you the full amount promised. Always get the mortgage, first - then whatever you decide to do after that is on you. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 53813 Graham Stephan
Bankrupt by 28: Why Dave Ramsey lost MILLIONS in Real Estate
 
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Dave Ramsey got his real estate license at 18 years old, invested in Real Estate in his early 20’s, amassed a $4 million dollar portfolio with a net worth of about $1 million dollars by the age of 26…and then lost it all and filed for bankruptcy. Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 OFF FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Here’s what you need to know. Dave Ramsey got his real estate license at the age of 18 and began investing in Real Estate in the early 1980’s…he’d buy foreclosures, fix them up, and sell them. So what do most investors do when they finance real estate flips? They take out SHORT TERM LOANS to save money. Loose lending practices in the early 80’s made this an attractive option for quick flip real estate investors…buy a property, immediately fix it up, and flip it within 45-90 days. By the time the deal is done, the loan is paid off. This is how Dave made a substantial amount of money, rather quickly, in his 20’s - and much of his one-million net worth was speculated from high appraised real estate values. But here’s where things went wrong…by the mid 1980’s, real estate values were artificially high, fueled by tax codes which made real estate a favorable method of tax avoidance. See, many wealthy investors chose to dump all of their money in real estate rather than other assets, which inflated values way beyond where they should be….that was, until, the Tax Reform Act of 1986. This changed everything and real estate values came dropping down as demand for real estate dwindled. At that point, his largest lender was acquired by a bigger bank, who began looking more closely at Dave Ramsey’s loans and determined they were too risky for them to continue renewing these 90-day terms. The bank demanded that he pay off his loan within the 90 days that was originally agreed upon, with no further extensions to given. He had invested in a market that was inflated by investors seeking tax deductions, on short term 90-day loans, expecting to flip the property for a profit. This is the BIGGEST difference between Dave Ramsey is this: I take advantage of long term, 30-year fixed rate loans that don’t change. My interest rate doesn’t go up, banks can’t just call it due anytime they feel like it, and the price is the price no matter what happens. When the numbers work, doing this is very safe and as long as the property makes money, your worst case scenario is usually just breaking even and then having a paid off home in 30 years. If Dave Ramsey had a 30-year fixed rate loan, as long as the properties cash flowed, he could’ve just held them…and if he held properties that he bought in the 1980’s, chances are he’d have a TON of money by now. Not only that, but if he took out 30-year loans, not only would he have very, very valuable real estate in 2018 - but they’d be ENTIRELY PAID OFF! For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 97335 Graham Stephan
How to find a mentor - the RIGHT way
 
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This is my recommendation about how to find a mentor - the right way. This is the way that will give you the highest chance of actually finding a mentor. Snap/Insta: GPStephan Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c Because click bait sucks, here’s what NOT to do: 1. Don’t just ask “Will you be my mentor” or “Will you mentor me?” 2. Don’t approach it having done no research about what you want to do 3. Don’t ask vague questions What you SHOULD do: 1. Already be doing and learning what you want to do and achieve - ON YOUR OWN 2. Do NOT let NOT having a mentor stop you from doing this 3. Be specific and have a basic background about what you want to do 4. Be open to ask for help, but if this is something you can learn from a 10 second google search…that’s bad 5. OPINIONS and EXPERIENCE are a mentor’s strong point, not necessarily factual knowledge 6. Offer something in return - doesn’t need to be monetary. Your time, your enthusiasm, your help..whatever you can give. I’ve never asked anybody I consider a mentor, “Will you mentor me?” It’s something that happened naturally over time. Asking “Will you mentor me? is a yes or no question and IF it’s a yes, it’s a HUGE obligation for that person. Very doubtful they’ll just say “yes” right off the bat. I’ve never approached anyone specifically - even with my mentors in real estate, it all happened organically. I hope the same comes to all of you watching. There are also a multitude of forums, websites, and videos for you to learn from on your own. Chances are if you’re interested in something, so are a million other people - use the internet to reach out and learn from as many people as you can and do what you want to do - mentor or no mentor. A mentor can be a great source of encouragement, knowledge, and wisdom. However, do what you want, regardless if you have someone coaching you or not, and eventually the right people tend to come along once they see how dedicated you are to whatever you do. Thank you for watching! Add me on Snapchat: GPStephan Add me on Instagram: GPStephan Suggested reading: Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Agent: http://goo.gl/TPTSVC The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 28034 Graham Stephan
Avoid the NIGHTMARE tenant and eviction: My Tenant screening process
 
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Here is my screening process when looking for a tenant. As a landlord and Realtor, I have leased HUNDREDS of places - these are the red flags I've noticed and how I now go about selecting the best tenants. Enjoy! Snapchat/Instagram: GPStephan 1 .Bad Credit Score. This is something I can sometimes let slide depending on the situation, but generally this is a red flag. A credit report and score shows you how responsible your tenant is paying their bills and loans. Often times if you see they’re behind on car payments, medical bills, have liens or judgements against them…chances are, they’re not going to be an ideal tenant. Now every situation is different and each case is treated individually. But generally speaking, if they’re consistently late on their bills, have large amounts in collections, and otherwise they don’t care - pass. 2.The next red flag is when the tenant has a lot of unreported income. First of all, regular cash deposits are usually an immediate red flag that something is sketchy, and the type of person who does this for the purposes of avoiding the IRS is already not someone I want to associate myself with. But generally with cash income comes infrequent income, and this is the type of tenant who might not have rent every month. Usually this type of tenant is doing something sketchy, it might not be sustainable, and it’ll be inconsistent. They could also be trying to hide from collections by keeping what they need to in cash, so I suggest looking closely at avoiding this person. 3. The next one is wanting to move in ASAP. Although this isn’t always a red flag, this is something I’m extremely weary about. This is something I take on a case-by-case basis. Some times the tenant just didn’t have time to find a place and their lease is up…that’s cool if you can verify it. Other tenants just want to get the house hunt out of the way by locking something down ASAP and then having an overlap, that’s cool to. But there are other tenants who are in the process of being evicted or forced out of their last home and just need somewhere to move immediately and use this as a negotiating point for landlords. Be weary of someone willing to move in immediately, it could be fine or it could be a way for a tenant to lock something down before they’re evicted. Find out why they’re moving and if you trust that’s the truth. 4.The next is not providing their previous landlord’s information or lying on their application. Many tenants refuse to put their landlords information on their applications. Many times they’ll have an excuse like they aren’t on good terms, its a he said she said story, or they don’t want to tell their landlord that they’re moving…in any event, it’s an immediate red flag and seems sketchy to me. If they’re not providing their landlords information, they’re withholding information from you to make an informed decision about this tenant. Many tenants will also lie on their applications and put someone else’s number who will pretend to be the owner. If this happens, immediately cut them off…this happens way more than you’d think. 5.Doesn’t show u on time or doesn’t pay on time. Hopefully this happens BEFORE you sign a lease with them. If the tenant doesn’t show up on time for an appointment, this is something you should consider. Generally the people who don’t show up on time will not be the type to pay on time. Make it a priority for the tenant to pay on time. Another one is if the tenant doesn’t pay their deposit or first months rent on time…if they make an excuse early on, take this as a sign that they aren’t the right tenant for you. 6.Trust your gut - if you feel uneasy about someone, go with your intuition. I really believe that your intuition will pick up things that a logical approach will not…if you feel uneasy about a tenant, trust it. Even if everything logically checks out, it’s important you feel confident and sure of your decision on a gut level as well. If you follow the above, you’ll be in a much better position to pick the right tenant. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 42871 Graham Stephan
Story Time: My 3 BIGGEST mistakes (so far) in Real Estate and life...
 
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Not everything I’ve done has gone smoothly or come easily. Here are my top 3 biggest mistakes I’ve made along the way. Learn from my mistakes :) Feel free to add me on Instagram / Snapchat: GPStephan Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: https://goo.gl/UFpi4c Mistake #1: Not getting a credit card when I was younger I didn’t get a credit card until I was 21 years old. This set me back massively when I wanted to get a loan to buy properties in 2012 and couldn’t qualify to buy anything. Lesson learned. Mistake #2: Not properly researching a tenant before signing a lease Worst real estate decision I’ve made. The tenant ended up growing "substances" in large-scale qualities in the garage, stopped paying rent, and then vandalized the house before he was evicted. Do your due diligence when signing a tenant. Mistake #3: Not having a social life when I was younger Making friends and keeping friends is work, and it’s worth it to put the time in to keep in touch. Otherwise what’s the point if you have no one to share your success with? Add me on Instagram: GPStephan Add me on Snapchat: GPStephan Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 36484 Graham Stephan
Step By Step: How to make $100k your FIRST YEAR as a Real Estate Agent
 
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Here’s how you can make $100,000 your first year as a real estate agent, step-by-step, and the process involved day-to-day to hit that goal. Enjoy! Add me on Instagram/Snapchat: GPStephan More information below... The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Anytime you set a goal in real estate, it’s really important to work backwards in order to find out how to hit that goal. Figure out how much real estate you’ll need to sell, the average price of a home in your area, and how many people you’ll need to meet to make those numbers work. For simplicity sake, lets just say you need $5,000,000 in sales to net $100k. Look at the average purchase price of the area you want to work in, or are working in, and divide that number by $5,000,000. We will assume you will need 14 homes to hit $100k in net commission at $350k average price. The next step is to figure out how you’re going to sell 14 homes… And we’ll break it down further. In order to hit high sales numbers, you WILL need to prospect for business. It’s said that you’ll generally make about 1 sale for every 180 people you come in contact with. And by contact, I mean you actually have a conversation with them about real estate for the purposes of finding out if they want to buy or sell. So with that, to sell 14 homes…you’ll need to meet 2,520 contacts over the course of a year, or 210 per month. This also works out to be an average of 7 contacts per DAY. So how can you do this? Here’s my ideal recommendation: Going after expired listings: https://www.youtube.com/watch?v=0tLnH96hRqE&t=25s I’d also recommend holding open houses every single Saturday and Sunday. Just by doing this, you could easily meet another 3-20+ people in a few hours: https://www.youtube.com/watch?v=qh-EeRId3OU&t=77s The third option you can do is going after homes under construction. Walk in, find the contractor, and find out if the home is going to be sold or rented…if so, introduce yourself to the owner. Find out how much they want to list it for and bam…use this as an opportunity to pitch your services as a Realtor: https://www.youtube.com/watch?v=5Zqvhh0VHtg&t=1004s Finally, you can cold call or door knock for business. Especially if you’re aiming for a lofty goal of $100k in your first year, door knocking or cold calling will be pretty much required as you’re growing your business. You’ll need to build up a lot of contacts and a lot of experience quickly, and this is one of the best ways of doing this by just using your time. But one of the largest components of all of this…FOLLOW UP. Don’t be afraid of being annoying. You will NEED to do this…yes, some people will get annoyed, but those aren’t the people you want to work with, anyway. Because if you don’t consistently follow up, you will lose out on business and all of your hard work will be for nothing. Doing this consistently should lead you to about 14 sales, which should equate to $100k given a $350,000 sale price at 2.5% commission. If you’re in a higher priced area, this could actually lead to way more. Now with something like this, a few things that I should mention: When you’re just starting out, there’s a steep learning curve. You will mess up. You will make mistakes. That’s part of the process. It’s okay - it will take some time to find a balance of what works best with your style and personality. And finally, with something like this, personal work ethic matters a lot. The reason why most people fail is because they expect quick commissions or get into it for the wrong reasons. If you’re interested in real estate and really enjoy it, and have the self motivation to continue pushing through the times when you’re frustrated and feel like you’re not getting anywhere, you’ll do well. But how hard you push yourself will make the difference -you need to be consistent, and you need to be dedicated to hitting your numbers. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 50630 Graham Stephan
WARNING: Why Peer To Peer Lending is a BAD INVESTMENT
 
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Peer To Peer Lending websites such as LendingClub and Prosper seem like a great investment…however, these are some of the concerns to watch out for. Enjoy! Add me on Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ GET $50 OFF FOR A LIMITED TIME WITH COUPON CODE: THANKYOU50 The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c For those of you who aren’t familiar with what Peer to Peer lending is: These are websites like LendingClub and Prosper that act as an intermediary to match people who need to borrow money, with people who have money to lend. They’re pretty much offering YOU the opportunity to be the bank for someone else, and get paid back that interest. However, these are my concerns: First: Fees. As an investor, lending club charges a 1% fee on any payments you receive from the borrower…so already, whatever return you WERE getting, is now reduced by 1%. Second: Defaults. If a borrower DOES NOT pay their loan, lending club charges a 40% fee on any amounts collected on a delinquent loan that went to litigation. According to them, they have an approximate default rate of about 7.8%. And keep in mind since the borrowers agreement is between themselves and lending club…not YOU and the borrower…you can’t do anything about it. You have no recourse. Third: Lack of liquidity. Once you invest in a note, technically you’re tying up your money for 3-5 years until that loan matures…and that also assumes the borrower pays off the loan in time. If you need your money sooner, you’re forced to sell your loans on the secondary market…usually for a steep discount, Fourth: Taxes then become an issue because your returns are seen by the IRS as ORDINARY INCOME, meaning they’re taxed at your highest marginal tax rate. And depending on how much you make, this could be a lot. Compare this to long term capital gains, which for most people is just a flat 15%. Fifth: Risk of analyzing borrowers. Many P2P sites assume no risk in analyzing the credit worthiness of the borrowers. And this seems like people can easily take advantage of this. Sixth: Default rates like this will ABSOLUTELY be going up if the economy begins to decline. The FIRST THINGS people stop paying is unsecured debt, like personal loans and credit cards…This leads me to think that whenever our economy begins to falter, the returns you’ll see on peer to peer lending websites will drop substantially, and at a time when you’ll WANT to have access to your money to invest in other opportunities, but you can’t because your money is tied up on these websites. It’s for all of these reasons, you should do your own research to determine if peer to peer lending is right for you. For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at [email protected] My ENTIRE Camera and Recording Equipment: https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB Favorite Credit Cards: Chase Ink 100k Bonus Point Offer - https://www.referyourchasecard.com/21/ZVSGGIXM8U American Express Platinum - http://refer.amex.us/GRAHASOxHd?XLINK=MYCP
Views: 40468 Graham Stephan
The ULTIMATE Beginner's Guide to Investing in Real Estate Step-By-Step
 
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Here's a Real Estate beginner tutorial where I can really cover the blueprints and outline the basics of what’s needed in order to prepare for, and actually invest in real estate. Enjoy! Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Step 1: BUILD YOUR CREDIT. This is one of those steps that you can can do NOW. If you’re watching this and you don’t already have a credit card, when you’re done with this video, watch this: https://www.youtube.com/watch?v=ukaWAjgkH9M&t=30s Step 2: SAVE YOUR MONEY. The reality is that you can’t invest in real estate with no money down, no income, no credit…it just doesn’t happen. So this means that in order to save money, not only will you be required to live somewhat frugally so you don’t spend everything you make, but you will need to MAKE MONEY. I know this sounds common sense, but it’s at least every day that I get people asking how they can buy real estate without having any money…it doesn’t happen. Step 3: SHOW YOUR INCOME on a tax return. his means that you can’t just have one great month on Shopify and then expect to use that as a down payment…lenders want to see consistent, stable income before they give you a loan. Step 4: Get prequalified. It’s as easy as going to a few major banks, having them run your credit, giving them your tax returns, bank statements, and some other minor information…and they will give you a pre-approval amount based off those numbers. You can then take that pre-approval and shop that around a few other banks, getting them to match or beat those terms. Step 5: LOOK AT EVERYTHING IN THE MARKET YOU WANT TO BUY IN. Do your research. Find out which areas you feel are undervalued and where you feel people will be moving to. Drive around on weekends through every street and neighborhood. See every open house on a Saturday and Sunday within your price range, plus maybe a few hundred grand so you know what’s out there. The more you see, the better you’ll be able to recognize a good deal when it comes up. Step 6: Make offers on places you feel are a good deal. Know your price, know what it’s worth, and have patience. It’s more important to get the right property at a fair price than wait years trying to find the unicorn of a deal. Step 7: Do your inspections. I usually tell my clients to do all the inspections they can, and usually it’ll be a break even when you re-negotiate a credit with the seller. I also take it a step further and also walk two contractors through the unit who will give me a free bid on how much things cost to repair. This way, I know everything that’s “wrong” from a cosmetic standpoint and exactly how much it’ll cost to fix. Step 8: Close on the property. In the interim here, you’ll be speaking with your lender, getting in all the information they request from you, do an appraisal on the property to make sure it’s worth what you’re paying, and you close. Once the property is yours, this is where the fun begins! Step 9: Do minor renovations. Most people ask “where do you find your contractors?!” And my answer to this has always been Word of mouth, and yelp. Also make sure to get various bids to understand the costs associated with what you want to do, never just hire the first person. Step 10: Rent it out. Here’s how I post my ads on craigslist: https://www.youtube.com/watch?v=gy6JXJKZbSY&t=382s For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 149895 Graham Stephan
How your image can MAKE or BREAK you
 
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We all like to hear that a book shouldn’t be judged by its cover, but in reality this isn’t always the case - quick assumptions are often made without a second thought. Here’s how you can use that to your advantage. Enjoy! Snapchat/Instagram: GPStephan What I’ve found is that it really helps to match whatever it is that you do. It helps to be congruent with it. If something doesn’t add up between how you present yourself and what you do, people get suspicious. People see the disconnect and immediately hesitate, because they feel you’re not living up to what you’re presenting. You’re selling a $10,000 program on making millions of dollars? You bet you can’t show yourself driving around a 1989 Honda Accord while living in a studio apartment in Lancaster. People like to see that you live what you preach. Even how you dress can make an impact. Again, designer clothes don’t matter - but instead of wearing something oversized that doesn’t fit, where people may make quick judgements that you’re unorganized and don’t pay attention to detail, make sure to wear clothes that fit your physique, are clean, and ironed. That’s it. The details matter - I’ve found socks are an easy detail that many people notice and most people miss. Seriously, a good pair of colorful socks go a long way. Even a clean haircut and shave makes a huge difference. Some other things you can do - clip your nails, brush your teeth, wear cologne. Little things that people notice that don’t cost much, if anything. But it’s not entirely physical . The thing is, the other half is attitude. It’s believing what you do. You do emulate what you’re doing? Figure out what you want and then tailor your image to become what you want to be. Dress for success. And again, it doesn’t need to be too superficial. Focus on what you have control over - how you dress, good hygiene, and how to present yourself, and creating the image that matches the person. Work on speaking if it’s holding you back, work on being more assertive if you’re not getting what you want, it’s about constantly improving yourself and slowly becoming the person you’ve always envisioned yourself being. And realize that image sometimes plays a role in this and use that to your advantage. For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 21429 Graham Stephan
The Real Estate Investor who has over 80 tenants paying him EVERY MONTH!
 
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Matt McKeever is a real estate investor in London Ontario, Canada who's quickly built up a portfolio of 16 rental properties - and over 80 tenants paying him rent - every single month. All within a span of 7 years. Here he shares two properties he just purchased, how he got into real estate, and what he looks for when buying. Enjoy! Subscribe to Matt’s channel: https://goo.gl/6ZqgrV Feel free to add me on Snapchat / Instagram: GPStephan For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 175170 Graham Stephan
How I Save 100% Of My Income
 
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For the last several years, I’ve been able to save 100% of my income. I’ll break down how I’m able to do this and how this is even possible, and the steps you can take to do the same - enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 OFF FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c For those that have stuck around for awhile or watch my older videos, you know that I preach and practice a few basic things….cut back on your expenses and live frugally, save as much of that as you can, and invest what you save long term. Doing this consistently is what leads to financial independence. This is something I’ve pretty much done since I was 18…I was the weird type of person who just got WAY more enjoyment being able to save money than I ever got from spending it. Because of this, I kept my spending to a minimum, regardless of how much money I made. I re-invested all of that, and after about 7 years, my investments were throwing off enough money to pay for all of my daily expenses, allowing me to save 100% of what I made elsewhere. My thinking is that I can keep my spending strictly at what the rental income generates…and each and every year, my lifestyle can get a bit better because I’ll re-invest everything I make from my “day job.” For all of you watching, it’s really important to do a few things if you want to begin replicating this as well: The first is to KNOW what you spend. Most people have no idea where their money goes…and it’s often those small $5-$10 daily charges that add up over time. So first thing is to track everything you make and everything you spend. I personally use Mint.com and PersonalCapital.com - both are amazing and work really well. The second thing to do is to figure out what you can cut back. For instance, I don’t need cable TV…as long as I have an internet connection, I’ve got everything I need. I don’t need to got to Starbucks, I make my own iced coffee at home. I don’t run the AC or keep on electricity when I’m not home. I’ll wait to buy something until it’s on sale. It’s these little tiny things that consistently add up to large amounts over time. Third…Once you’ve reduced what you don’t really need, now work to increase your income. Sometimes cutting back isn’t enough if you’re just not making enough money. If this is the case, the reality is that you’ll need to make more money, there’s no way around it. Fourth….If you think you don’t have enough time to make more money, then you really need to audit how productive you are during the day. In most cases, you’re wasting time somewhere… Fifth…you need to save and invest consistently. This isn’t meant to be something you do for a few months or a year and then stop. Ideally this is something you can do long term and turn into a lifestyle. Sixth…don’t get trapped with lifestyle inflation. If you get a raise or make more money, SAVE THE DIFFERENCE. You can live exactly as you have been, except NOW you can accelerate your path to financial independence. So with that said, that was how I was able to save 100% of my income for the last several years - and why I continue to pretty much save 100% of my income for the very long foreseeable future. For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 100067 Graham Stephan
The BEST ways to invest your first $1000
 
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This has to be one of the most requested video topics I get, especially for the people just starting out. This $1000 amount should give you a head start in whatever you do and begin the foundation to you making a lot more money. Feel free to add me on Snapchat/Instagram: GPStephan Let me first preface this by saying that it really depends WHAT you want to do and what your situation is. I’ll give you my own recommendations, but ultimately your own situation will dictate what’s actually best for you. If you want to start a business, I’d likely give you different advice than if you want to invest long term in something passive. So I’ll try to cover as much as I can. My first and biggest piece of advice for anyone, no matter what you want to do, is to use that $1000 to invest in yourself. This will likely give you the highest return on investment. I’m not talking about spending it all on a $997 course, but use it towards good books - use it towards learning, taking seminars, taking some courses or classes, and expanding your knowledge about what you want to do. Investing in yourself is a good idea no matter how much money you have and would be the pinnacle of what will generally get you the highest ROI. My second piece of advice is for someone who wants to start a business. I’d recommend using that $1000 to get you towards starting that business you want to do. If you want to develop a website, use that money to start the website. Want to start an app? Use that money to start an app. Do you want to do something online but don’t have a computer capable of doing it? Use that money. If you want to wholesale real estate, use that $1000 towards marketing materials. Figure out what you want to do and see how you can stretch your $1000 to make your business a reality. Even if it fails miserably and you lose your $1000, I promise that will be the best learning experience of a lifetime. That $1000 mistake will be worth way more firsthand than any college class could ever teach you. My third piece of advice is for someone who wants a more stable, long term investment they can pretty much just forget about to give them some passive returns. In this case, I’d highly recommend a low-fee index fund, like what Vanguard offers. They have several funds with $1000 minimums that should get you a good head start on investing long term. You can also get a ton of diversification depending on what fund you go with and this would give you a solid foundation for investing. You’ll also learn some background about index funds and diversification in long term investing. My fourth piece of advice is for someone who wants to learn the stock market and doesn’t mind putting their money in riskier investments. With this, you can trade individual stocks and you will learn a TON by trading firsthand. The downside is that commissions will eat you alive when you’re making regular trades. BUT, it’ll be an amazing learning experience. You can do the same with cryptocurrencies and I’m sure it would be an equally good learning experience. Just understand the risks involved. The whole purpose of this first $1000 should really just be to use it to jumpstart whatever it is that you want to do. Because lets be real, $1000 is not a lot in the bigger picture. However, $1000 should be enough to start moving you in the direction to begin making $10,000…then $100,000…then a $1,000,000. It’s about creating a foundation that supports you to continue making even more money. It’s not about maximizing your returns at this level, it’s about creating learning experiences at this level where losing 10% costs you $100 vs losing 10% on $100,000 costs you $10,000. The mistakes you make on this level will be avoided when you begin doing things on a much larger scale. For business inquiries, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 100197 Graham Stephan
I FOUND THE  5 WORST CREDIT CARDS EVER...(AVOID THESE!)
 
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Since we’ve talked about the best credit cards for beginners, the best credit cards for travel, and the best credit cards for free stuff…these are the Top 5 WORST credit cards of all time that you should avoid…enjoy! Add me on Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ GET $50 OFF FOR A LIMITED TIME WITH COUPON CODE: THANKYOU50 The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c DISCLAIMER: The views and opinions expressed herein are those of the author and do not necessarily reflect the legitimacy of these companies. Many elements have been exaggerated for comedic effect. Even though I’m not that funny. Do your own research and come to your own conclusion. For entertainment purposes only! For business inquiries or paid one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq
Views: 112591 Graham Stephan
How to RETIRE EARLY
 
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Ever wondered just how much money you’d actually need to in order to be Financially Independent, to quit your job, and retire early? Here’s the answer. Enjoy! Add me on Instagram/Snapchat: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ Get $50 OFF + FREE Coaching Call FOR A LIMITED TIME: Code THANKYOU50 - The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c First, lets define “financially independent,” because this term means different things to different people. To me, it’s having enough money to support your current lifestyle without you ever needing to earn another dollar. It’s knowing that you’ll have a certain amount of money at your disposal every single month that covers your daily expenses without ever running out. For each of us, that number is different. For someone in rural Kentucky, maybe it takes $35,000 per year to cover all of your expenses…food, housing, entertainment, health insurance, just everything you’d ordinarily spend in a given year. For someone in New York City, maybe that number is closer to $90,000 per year…or maybe for a family of 5 in Southern California, it’s $125,000 per year. But what’s unique is that even though each of us will have a different level to what we’d consider financially independent, the math behind it stays exactly the same. For most situations, how much you need invested in order to retire is as simple as this: 25x your annual expenses. This means if you want to spend $50,000 per year, you’ll need 25 times that…or $1,250,000. You want to spend $80,000 a year? You’ll need 25x that, or $2,000,000 invested. Spend $100,000 per year = invest $2,500,000. In order to accurately do this, it requires you to really sit down and think about the lifestyle you want, how much it’s going to cost, and what you currently spend. By first going over your current expenses…and literally counting every cent that goes in and out of your account, you’ll get a great baseline as to how much you regularly spend on a monthly basis. From there, determine if there’s anything else you’d want and how much that will cost. Once you add everything up…multiply that number over 12 months…then multiply that by 25, and that’s how much you’ll realistically need to have saved. So how does this work exactly when it comes to financial independence? Well, that’s what’s known as the “Safe Withdrawal Rule” or “The Trinity Study.” This study suggests that you can withdrawal 4% of your total investment annually - which is usually studied as an investment portfolio consisting of 80% equities and 20% bonds, with a fairly high success rate of never running out of money. This means that for every $100 you invest, you can safely spend $4 of that each and every year for basically the rest of your life. . This study takes into account that you’re invested in 75%-80% in equities, like stocks of a corporation, and 20-25% of bonds, which represent a more stable, secure return. On average, a portfolio like this should return an average of about 7% annually adjusted for inflation over a 30+ year period. This means that your investment MAKES YOU 7% after inflation…you then spend 4%…leaving you with an extra 3% left over as a buffer for safety. And this is the basics of how this study is calculated. This takes about 100 years of historic data and market returns into account to determine a number that should be safe in the majority of market situations. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 25903 Graham Stephan
How I live for FREE by House Hacking and investing in Real Estate
 
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One of the BEST ways to begin investing in real estate and lowering your housing costs is what I call “House Hacking” — buying a multi-family property, moving in one of the units, and renting out the others to pay for your living costs. Here’s how I do it - enjoy! Snapchat/Instagram: GPStephan Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 25237 Graham Stephan
Why I have 11 Credit Cards…
 
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Here’s why I now have 11 credit cards, the advantages of credit card churning, and how this helps build your credit score. Enjoy! Add me on Snapchat/Instagram: GPStephan The Credit Shifu: https://www.youtube.com/channel/UCEVXhsR6e3D522BHQj9MlLg The Points Guy: http://www.thepointsguy.com Reddit - Churning: http://www.Reddit.com/r/Churning Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c Lets talk about why I have 11 cards. The real answer is, WHY NOT? But in all seriousness, there’s no downside to having all these cards, so I may as well get them. The majority of them cost nothing to keep open so I keep them around. The thing is, when you’re building your credit, the credit scoring algorithms look at four major factors when determining how you can get a high credit score: The first is average length of credit history. The longer you have your credit lines open, the longer you have those accounts established, and the more it weighs in your favor of having a high score. The second factor credit scoring companies look for is amount of credit available to you. Generally, the more credit at your disposal, the less likely you are to use all of it, and the lower your debt-to-credit ratio is. This brings me to the third scoring method…how much credit you actually use, compared to how much you have - this is called the utilization rate. Spending $1000 on a $1000 card looks like you’ve just maxed out your credit line, and banks see this as a high risk that you’ll default because you needed to use all the credit available to you. But spending $1000 on a card with a $50,000 limit just means you’ve spent only 2% of what’s available, and therefore you’re a much smaller risk to credit card companies. Fourth is how often you pay on time. This goes without saying, don’t pay your credit cards off late and pay them in full by the time they’re due. So because of these four reasons, I see ZERO downsides to keeping multiple cards. But the real reason I have so many cards isn’t necessarily to have a high credit limit, even though that’s nice…it’s to get those sweet, sweet bonus points, also known as credit card churning. I opened a chase sapphire reserve for 100,000 points. I opened a chase sapphire preferred for 50,000 points. I opened an American Express Gold for 50,000 points, an American Express Platinum for 60,000 points, an American Express Starwood’s Card for 30,000 points, and a Chase Ink Business Preferred for 100,000 points…this equates to 390,000 bonus points just for opening up credit cards. When transferred to an airline, this means I can take 15 round trip plane tickets anywhere in North America for entirely free. It means I also have enough left over for a free week stay at any Starwood resort. It means I also get priority pass access at lounges, $600 per year of free travel credit, upgraded rooms and perks, and a myriad of other opportunities. The trick here is not to be smart once you have all this money available to you on credit. These credit card companies expect that the majority of people will spend extra money on the card, take their time to pay it off, and the interest the customer pays will eventually outweigh the meager 100,000 points the credit card company gives you…that’s how these companies stay in business and lure in customers…but I’d expect we’re all smarter than that. Instead, you’ll meet the minimum spend through your normal spending, you’ll pay it off in full, and you’ll be a responsible citizen with your card by not carrying a balance. In return for being a responsible adult, you’ll get rewarded with a LOT of perks without paying a dime in interest. Use this as an excuse to take a vacation for free, or save them up for something special. It’s free, after all. For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at [email protected] Suggested reading: The Millionaire Real Estate Agent: http://goo.gl/TPTSVC Your money or your life: https://goo.gl/fmlaJR The Millionaire Real Estate Investor: https://goo.gl/sV9xtl How to Win Friends and Influence People: https://goo.gl/1f3Meq Think and grow rich: https://goo.gl/SSKlyu Awaken the giant within: https://goo.gl/niIAEI The Book on Rental Property Investing: https://goo.gl/qtJqFq Favorite Credit Cards: Chase Sapphire Reserve - https://goo.gl/sT68EC American Express Platinum - https://goo.gl/C9n4e3
Views: 161323 Graham Stephan

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