(#1 Mistake) I Made in Real Estate…

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This isn't your typical success story; instead, it's a candid reflection on a significant mistake that has shaped my investment journey. A must-watch for anyone serious about property investment."
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DISCLAIMER The contents of this video are for strictly educational and entertainment purposes. This video is not intended to provide financial, accounting, tax, or legal advice. For financial or legal advice consult with financial advisor or lawyer.

Опубликовано:

13 сен 2024

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Комментарии : 106

@mazin1240 4 месяца назад

I love the way you talk, honest, natural and simple

@StonedMeadowOfDoom 7 месяцев назад

You cannot make such a broad statement like "your real estate will increase in value over the years". That is dependent on many variables unique to each individual property and purchaser.

@ArchimedesPie 8 месяцев назад

It's just so hard to find cash flowing rental deals right now that aren't super risky. I am looking ALL the time. Every deal requires me to overcharge on rent or pay in money myself. I can't make the numbers work, and I dont see how the situation in general is sustainable, something is going to give...

@nwchrista 11 месяцев назад

Housing is dropping in price all over the place. If you buy 5 overpriced houses, this leverage has the opposite effect on your wealth as prices drop. Sure, you can depreciate the assets and deduct the costs from your income and that's hugely beneficial, but you'd have to weigh the cost/benefit ratio before proceeding.

@TheRealWayneTurner 11 месяцев назад

We’re seeing asking prices reduced, but overall home values are still increasing.

@iainowsiany7424 9 месяцев назад

Right of course you have to understand the market in the area you're investing

@Maxime-ho9iv 9 месяцев назад

Exactly. I think there is something not emphasized enough in those videos: if you buy a property that is over-valued, you are loosing money. Period. A lot of people are taking the examples of the last 20 years and draw conclusions for the future. But they completely forget that 1) the real estate market is not always up 2) this current real estate market has been boosted by low rates, actually the lowest rates we have ever known.

@t3dwards13 7 месяцев назад

Aren't increasing numbers of people being inflated out of their properties? I don't see how the price could rise as it sits empty.

@KidCity1985 6 месяцев назад

I'm in western Washington, it's still going up here.

@williamsporing1500 9 месяцев назад

My wife and I bought the vacant lot net to our house to keep people from building a house next to us lol

@TheRealWayneTurner 9 месяцев назад

That’s a smart plan!

@mikerichards8400 11 месяцев назад

Brilliant analysis. Thank you so much for your knowledge, wisdom, and determination to help us make it in the real estate business.

@TheRealWayneTurner 11 месяцев назад

Glad it was helpful!

@RicCross 11 месяцев назад

62 yo here, worked for a builder/developer in the NE Atlanta suburbs in the 80s. We built Duplexes and Quads, Fee Simple townhomes, Starter Homes, and Large Homes depending on the market at the time. Your spot on as far as the rental portfolio

@TheRealWayneTurner 11 месяцев назад

Thanks!

@susandickerson8863 26 дней назад

Amen! Your gut will tell you what you need to know. Ignore it and you will learn the very hard way, not to be stupid ✌️ Love all your videos. Great information.

@JDSpartan2007 11 месяцев назад

Wayne Turner is an OG. Learn from his because wise men learn from others.

@TheRealWayneTurner 11 месяцев назад

Thanks!

@susandickerson8863 26 дней назад

Yeah at 64 I’ve learned your never to old to learn something new. How did we ever make it with out RU-vid 😂

@LeoDomiNations4988 8 месяцев назад

Thank you Wayne. What if I am 53 and not 21...still a good idea to get started with a duplex / quad? Quads seem pretty uncommon, but I like the added cash flow they would offer over a duplex. Any areas of the country that are better for quads than others? (from Indiana and have lived in Texas and Cali...currently in China and trying desperately to find a way to afford to come back. don't want to work for anyone ever again...so sick of pouring my energy into another's success.)

@davidlundy5007 7 месяцев назад

What you are describing relates to any business. Learn what not to do. When I gave quotes to customers I learned to stay within the job margin and to NOT give them more labor and materials than quoted no matter how much I wanted to. Unfortunately it took me years to learn this before I started making a profit that I could actually keep in the bank. I also learned NOT to do any work for house flippers, lol.

@garypiont6114 10 месяцев назад

Great video, well spoken, no script. Thanks

@TheRealWayneTurner 10 месяцев назад

Thank you G. Yep, no scripts

@Ortega1961 7 месяцев назад

You just stated something highly intelligent most people don't grasp OPM other people's mistakes

@AreYouBigEnough 11 месяцев назад

Your message at the beginning of the video is wonderful.

@TheRealWayneTurner 11 месяцев назад

Thank you!

@jeffabbott403 11 месяцев назад

My quandary. Building a new home soon. Own the land. Current house valued highest ever ($500k). Can’t decide whether to cash in or hold on to cash flow. She’s paid off. RE is hot here in NE Ga

@Mistermackey 11 месяцев назад

Will you be renting out the current property?

@jeffabbott403 11 месяцев назад

@@Mistermackey that’s my original plan

@TheRealWayneTurner 11 месяцев назад

If you don’t want to be a landlord owner financing is an option to look into. You’re making interest on the house, but you aren’t responsible for insurance, maintenance, taxes, etc.

@jeffabbott403 11 месяцев назад

@@TheRealWayneTurner I’ve thought about that idea with a young couple renting at the end of our road that borders the family land our plots came from. He’s a Cop so steady income. Wayne what’s your thoughts on the All in One Loan option for the new home mortgage. Basically first lien HELOC that utilizes sweep checking to pay down fast. Could knock it out in 5yrs I believe. Any experience with clients who’ve used it?

@zevlove612 9 месяцев назад

Cash build a multi unit or sfh with adu

@Zerozombie77 6 месяцев назад

Another idea is when it comes to light fixtures is to buy something simple that may have pendent lines that you can add your own globes. A fixture with 1 or more lights then buying globes separate can save you hundreds.

@stephenabstract1536 16 дней назад

Duplexes available Camden, New Jersey. Has a bad rep but cheap.

@wilsonrestrepo3352 9 месяцев назад

Thank you for your honesty n wisdom! Love ur videos. Happy holidays

@TheRealWayneTurner 9 месяцев назад

Thank you very much. Likewise to you and your family.

@laurieclarkson9180 11 месяцев назад

Excellent video! Thank you!

@TheRealWayneTurner 11 месяцев назад

Glad you liked it!

@stacyfreeland2455 11 месяцев назад

Mr. Turner, would you do a vidoe on tenant screening companies and why they are important. 😊

@TheRealWayneTurner 11 месяцев назад

Absolutely! 👍

@joyroldan4537 4 месяца назад

I'm wanting to invest on house for investment or future house to retire I'm happy to bump into your videos and viewing your video

@Ladyj12345 6 месяцев назад

I am new to your channel, l was looking to purchase land and or property. The information you provided in this one video, l have watched just gave me so much knowledge. Thank you. If you can do a video on having the funds to purchase with no so good credit.

@honeybadger6867 9 месяцев назад

I just watched about 5 of your videos, very informative. Thank you!

@TheRealWayneTurner 9 месяцев назад

Awesome, thank you!

@CarlosAlbertoCastanedaVeira 19 дней назад

Great content Wayne!

@EarlBalentine 6 месяцев назад

Great video. My son and his wife and kids are still renting from day one. They claim that if they bought a house that the mortgage would be more than what they are paying in rent. They have little savings but not enogh to put 5% or 10% down on a house plus closing cost. What would you recommend for them to buy their 1st house? We are all in the Phoenix area.

@NT-qw8qh 9 месяцев назад

Wayne, the rent and house value do not go always up ....in most of cases you will end up paying from your pocket to cover some of the mortgage. today the rental market is in the RED zone . house values and the mortgage rates are still high. the Rent return is close to 5-6% at best while the mortgage is higher now.....

@nameshavebeenchangedtoprot2127 8 месяцев назад

Thank you, Thank you, Thank you.

@thomassohayda3375 10 месяцев назад

I wonder if he uses a property management outfit. They take care of listings, finding tenants, and general maintenance of properties. Is it cost effective?

@alpaslanmenevse1296 8 месяцев назад

All videos are very informative. Thank you so much.

@Theblackblond 8 месяцев назад

I’m about to buy land for the first time in Georgia. You saved me a $44,000 mistake.

@locdawg3815 6 месяцев назад

Upper Midwest is still rising and seeing no decline.

@christianrodriguez2561 8 месяцев назад

I'm always amazed by your content! Thank you much God bless!

@dialac1 8 месяцев назад

Your channel is a gold mine. I share your videos to my friends

@TheRealWayneTurner 8 месяцев назад

Thank you for sharing! I truly appreciate it!

@Arginine88 8 месяцев назад

thx

@meghane9250 9 месяцев назад

Great video with very straight-forward explaination of how it all works. Thank you so much!

@TheRealWayneTurner 9 месяцев назад

You're welcome!

@omarmota4427 6 месяцев назад

My name is Omar and Mr Turner I bought a piece of land in sunset ranch of 20 acres but I never went to see it or walk the land my ? Is do think I must be creazy to do that hope u give me ur honest answer thanks O.M

@sanzharbaizhanov5671 10 месяцев назад

Thank you for sharing

@amlak.azarme4126 8 месяцев назад

Thank you, very good 👏

@Ortega1961 7 месяцев назад

Your, also the first person I've ever heard mention anything about selling a four-bedroom house when in fact it's only a three bedroom as permitted by the health department

@RobotsCanDoAnything 11 месяцев назад

Excellent commentary, thank you.

@TheRealWayneTurner 11 месяцев назад

Glad you enjoyed it! Thanks for watching

@nat8843 9 месяцев назад

Any thoughts on rent controlled markets? It's possible to make money in rent controlled markets, but it's a whole different skill set!

@TheRealWayneTurner 9 месяцев назад

I don’t personally have any experience with rent controlled markets

@matthewronson5218 6 месяцев назад

Dave Scamsey

@chiefkyle1098 8 месяцев назад

Buying property during this housing bubble and depression, is the worst investment you can make. Unless you have absolutely no choice, hold off. Prices will drop when the bubble bursts.

@TheRealWayneTurner 8 месяцев назад

There will not be any bubble busting. Inventory to low, rates are fixed and people bought houses with rates below 5%.

@Snappypantsdance 5 месяцев назад

@@TheRealWayneTurner Boy, I'd be careful about making statements like this. First, sometimes we're just wrong. Secondly, almost everyone i talk to across industries believe there is a bubble that's going to burst.

@deegrant2735 9 месяцев назад

What constitutes "living in" the unit?

@TheRealWayneTurner 9 месяцев назад

You have to reside there for more than 50% of the year

@tracydubose265 9 месяцев назад

Aloha. My son is moving to Louisiana to become a RE investor. Your information is great. I wish I would have had this kind of help on my journey. Shoulda, woulda, coulda been a billionaire in hindsight.

@TheRealWayneTurner 9 месяцев назад

Nice! Have him reach out to me when he’s ready to purchase

@NA-ud6qm 11 месяцев назад

What if my family lived in the duplex for one year but not me?

@TheRealWayneTurner 11 месяцев назад

If you’re on the loan it has to be your primary residence

@vannshuttleworth4738 9 месяцев назад

Too Late for me, but I do enjoy your folksy wisdom. Beards Rule!

@TheRealWayneTurner 9 месяцев назад

Beards rule 💪

@rockpatrickjoly 9 месяцев назад

I am a new subscriber. Very good chanel!

@TheRealWayneTurner 9 месяцев назад

Thank you!

@deegrant2735 9 месяцев назад

I'm really interested in a 4 plex but since I'm a homeowner won't i need to have a 20% down payment? That's what keeping me from taking the chance...

@TheRealWayneTurner 9 месяцев назад

You don’t need the 20% down payment, there are other options

@garypiont6114 10 месяцев назад

Thanks again. I never lost money in real estate. Question, how about property near industry, high tension lines , rail road tracks etc? Are they worth investing?

@maddierosemusic 8 месяцев назад

They are harder to sell. If you want to rent them out and keep them, they are ok. But flipping them is harder. I passed on a real nice house on 10 acres - and about 500 yards behind is a large limestone mine. I'm glad I passed, I learned houses all around there are hard to sell.

@CassandraClark-hl6rm 3 месяца назад

I tried robert kiyosaki method and cardone now any agency accept my calls . Buying a house for $0 or 20% down payment , waste my time. I got a loan to build a business robert said real estate first i ended broke😢. I tried also like he said to work only part time and haven't get paid until today.

@shining_one 11 месяцев назад

What about section 8 buying a home program More information please

@TheRealWayneTurner 11 месяцев назад

I’ve never invested in section 8 housing, but I know a lot of investors who have and have been very successful

@shining_one 11 месяцев назад

I am on section 8 and they have a next tier program to buy a home Thank you for replying

@grumpagrumpa7490 11 месяцев назад

How do I buy property with no income verification like taxes

@TheRealWayneTurner 11 месяцев назад

Owner financing

@johnesestewart5247 11 месяцев назад

Help! Inheriting house md Too much for 2 people

@TheRealWayneTurner 11 месяцев назад

Are you wanting to sell the property?

@johnesestewart5247 11 месяцев назад

Yes I think so. Married to an outdoorsman Live in suburbs Been looking for so place with outdoor space

@johnesestewart5247 11 месяцев назад

@@TheRealWayneTurner yes

@nwchrista 11 месяцев назад

Is it still worthwhile to buy a rehab foreclosure with these interest rates and price points?

@kyjahnsmith3685 11 месяцев назад

If it’s worth it for you that’s all that matters.

@TheRealWayneTurner 11 месяцев назад

Absolutely! Just do your due diligence up front and make sure you get your rehab numbers right.

@nwchrista 11 месяцев назад

@@TheRealWayneTurner I'm too busy to handle the rehab myself. Is it worthwhile to contract the work out or does this typically eat up all the profit? And is rehabbing beaters the best way to go about investing and or flipping?... Meaning, it offers the best way to make money on the deal?