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
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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.
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I’m 19 and I’m college and have 15k Ive been saving up from since I was 16 and I plan on make 10k in the next 2 years . Videos like this help me a lot . Obviously every investment is risky but investing in property to me seems better than stocks bc you can control more things. After graduating I plan on starting small and getting a home and using most of my salary to pay off the home so I own it. Then renting it out and earning passive income along with money from my job. Idk how realistic that sounds but I’m still learning and videos like this help.
Really great video dude!! I’m trying to educate myself and you videos are informative.
The question I have is do u have to put down payment for every house you get?
For cities like London or NY it’s really expensive to make a start.
What would your advice be .
You seem to have some interest in buying houses, am I correct? What do you think of Grant Cardone's position on that? He says only ever buy apartments, and to avoid houses like the plague. What do you buy, and what are your thoughts on houses and duplexes?
Yup all markets are different the advantag I leaned from wholesaling was marketing you can find a possible deal and get seller financing. Theres many ways if you have direct access to a seller ESPECIALLY if you know to negotiate for both parties interest AMD create a win win situation for both
My personal favorite thing about real estate (from the information I gather) is it's as risky as you make it. You can leverage some, but dont have to leverage at all (if you have the financial reserves to do so).
Graham, your vids are awesome. Just recently started watching them and I really appreciate how objective you are. I’ve been interested in investing in rental properties for a while, but will have to wait a couple of years before I move forward with that dream.
Question...how do you feel about individuals, like myself (early-mid 20s) having co-investors? For example, my college buddy. What’s your take? Have you ever considered that?
Where is your dream home? How is it look like? Have you wonder to get a home which is away from hustle bustle City area but accessible to all amenities?
After long day work in the city want to have a good exercise like jog along the beach or slow walk at the sea side to enjoy the breeze and relax your mind. During your day off can lazing in the house to enjoy the sea view and the breeze in the comfort of your home.... Isn't this great?
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It took me years of saving while living with mom and dad all while working my but off at some low paying restaurant, but with that time I saved up enough to pay cash up front for a cheap place of my own. With this, I still stayed with my mom and dad for awhile and rented it out. Long story short, I know own my own home, and rent two others out.
With that I live without actually having to work at all... I still do though, otherwise things get unbelievably boring just sitting around all day.
In your case it may be trial and error finding the proper rent for your tenants, my biggest advise would be to be very low or reasonable with your rent but very strict about who’s paying it.
Your tenants shouldn’t look like risks or be having “money issues” right out the gate.
With that said, I’m a very minimalistic person and MY combined expenses are never over 800 a month, so I’m always collecting modern amounts of income. It also helps that I have a few friends that are good at the handyman work if needed. But just keep that all in mind.
Faze Eugene around 600ish,
their rent is 650 a month but, I cover any repairs needed. Usually minor stuff that pops up about once every year.
The ones rented to a couple that work a lot and are very reliable/responsible.
The other is to an older gentleman who’s on a disability check... so I never really need to worry about him having wild parties. Lol
I must say Graham Stephan is one of the few that really is getting hands on with how followers. Not just cranking out videos to get the views. Well that’s part of it.. but he really gives it to you like it should be done. Doesn’t sugarcoat it.
Thanks a bunch GS...
After all of the expenses (350) that's roughly $900 per month. Bruh?! Two or three more times and I can quit my job! That's all I really need/want out of life is to just be able to work on my own time. I get it, some people have to be put in there place and understand the lesson you're trying to instill.... I just needed to rant for a minute.
For the third "myth" are you referring to using either a hard money lender or a short term loan? It's fairly easy to get a mortgage with far less than 10-25% down, so I was just curious as to how you are financing your investments.
The video is accurate! Completely changed my mindset and how I'm going to go about investing in real estate. Will take this and this free ebook I found on investing all the way to success. If anyone else wants to take a look at this ebook I found, here you go: http://realestatesuccess.com/byteb
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+Graham Stephan Darn, I just got started in to the property business and that sounded like something I would want to try and figure out now early on while I only have one property, as it grows I want to get more and that seems like an amazing time saver in the future. Not sure if you have made a video or not but that would be a good one if you went over some ideas on what to look for, along with what to look for and talk about when dealing with a property manager(I ask a question about that on an earlier video). Thank you for responding, I love your videos and they have really helped me get started in this world.
i would like to start doing real estate investing, but i new to this and i don't know where to start and i financially broke. is there any course or program that you recommend me to take in order to start getting tune with the terminology and the process in how to become a real estate investor?
thank you in advance for your time and recommendations. it would help a lot. i want to make this year my year. I'm determined to learn and apply any strategy recommended and I already started reading some books related to this topic.
This a commercial on how to market yourself to get a lot of viewers...I had a three units, managed 8 others...bad tenants from hell, over charging contractors...lousy owners ...half these guys will make more money off of you than any of their ‘deals’
Investing has let me get out of the ditch - I got lucky when I found fixedandsold when I was totally at rock bottom. It's the only model that let's you use a credit card to invest so you're totally secured and I still get 10% to 20% returns. Ask or message : https://youtu.be/IdCEn7eWtsQ
cheaper to pay someone else to do it? So you pay $300 for a repair man to receive the less than $45 in tax benefits? That statement does not make sense. Worse use of your time? Maybe. But spending money just to get a tax write off is silly. If you want a tax refund, send me $1.00, I'll give you a "tax return " of .50, that is a 50% return!
Yea.... but a write off doesn’t give you money. It only reduces the taxes. So you only save the taxes you would have paid on that “income”. So if it’s a $300 job you pay for, you’ll get around $75 back at tax time if you’re in the 25% bracket.
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People in real estate make me sick. It's something any idiot could do if their income/credit was approved. Renters pay 100% for the property but investors get to keep the property and all the investors had to do was be in the good graces of the banks. Investors say it's hard work to boost their self esteem. In reality it's one of the easiest jobs that exists and they are spoiled. Boo Hoo you spent some of your time looking at properties, people who are renters spend their time looking at properties too but it's for a place to live not a place to take advantage of those who need a place to live.
I am in college right now and I don't see my self making 100k a year my whole life I feel like there is way better opportunities. Is there a way I can invest in you personally? Is that possible to invest in people not companies?
Hey graham, you said you can't write off your own repairs, but if you own a company the specializes in repairs, can you write that off on your own personal taxes since it is the company, not you doing the repairs?
Thank you for the reality check. Not knowing some of these things can really make a person nervous. However, how am I suppose to find these homes and actually obtain them in order to sell or rent them ?
$900/month is a serious return. Everything in my area that's cash flowing with 20% down is closer to $200-$300/month after expenses. That's a difference between only needing 4 properties to quit my day job vs needing 15.
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The technological part of the future platform does not contain any revelations - instead, the authors intend to use many of the existing developments that are expected to be applied in the near future in projects that are in various stages of readiness.
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