He Bought 16 Units inside Charlotte for $1.2 Million

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In this video, we are doing a walk-through of a 16-unit Apartment building. This apartment complex is in Charlotte, NC which is 1 of the hottest markets in the country. Ricky is giving us the inside edition on how he found this deal and how much the deal is worth after it's done.
therickyhic... 👈🏿 Ricky IG
/ @therickyhickman 👈🏿 rick’s RU-vid
• He Bought a Multi-Fami... 👈🏿 check out this guy get a multi-family for $12,000
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Опубликовано:

17 окт 2022

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Комментарии : 162

@ti3167 Год назад

“Working for someone else at 39 was more scary then entrepreneurship” great comment and I 100% agree. Great video. Thank you sir.

@malihaariel1 Год назад

I like the fact that he was an athlete (still is) AND he invested in his life for after his starter career 👏🏾 Who cares about fame when you have wealth 👑☺️

@plaibwoy Год назад

This is a homerun deal at 85K a door. If he can get those rents up and keep the deferred maintenance and rehab under control his cash on cash return should easily be 20%. Youll probaby have a ton of big time syndicators making you offers in a few years for it

@djmadmike23 Год назад

I live in Charlotte this is a great deal; the comment I loved is hes in control of whether the neighborhood goes up or down; You have a new subscriber, I need doors!

@Wiindss Год назад

I said the same thing I like that word play

@Lovlv1908 Год назад

Wow ! This is so refreshing to see this ! Congrats bros !

@pmack8537 Год назад

This was nice to see! Its giving me ideas. TFS! Keep up the good content!!

@genesweet67 Год назад

about 6k per unit would replace the baseboard and window unit. It is also a good deduction for cost segregation, meaning you can deduct it quickly

@TheStrategos392 Год назад

Seeing black people making moves like this puts a smile on my face. Pay attention to videos like this if you want to become wealthy.💵💰💰😎😎

@wileecoyote5749 Год назад

but what about Trump?

@TheStrategos392 Год назад

@@wileecoyote5749 If you want to acquire wealth, studying Trump would be smart. I have read the Art of the deal and some of his books from Trump University. There is no denying he is a business genius.

@waterheaterservices Год назад

It all Trump's fault I am dumb and broke

@Jordainetrades Год назад

Yessir📈

@shanda01114 Год назад

Facts!!❤

@pyramidtrucking2225 Год назад

Very good motivation for black brother's, Thanks. Let's support these brother's, hit that 👍 up.

@TheJanieLynn Год назад

Charlotte NC, is going to be my permanent home. This vid has inspired me...=)

@Danea222 Год назад

Man!!! I don't know what's going on with algorithms but I had to re-find you. Glad I did!!! Welcome to loc nation😁

@iamscottmitchell Год назад

This is going to be a banger for sure.

@DFresh32 Год назад

Great video. Good nuts and bolts discussion.

@IDontlieatall Год назад

My guy Rick!!! Haven't seen him since college.. Playin ball and now real estate!! A Pro's Pro.. Great too see. Congrats

@jonir.2044 Год назад

Congratulations 🎊🍾🎈

@wlpjjmb Год назад

I remember these and the sad thing is that none of us can afford these anymore. This is the issue that the city is having. We NEED affordable housing!!!!!!! I don't think they understand the housing crisis in Charlotte. There's so many places but they all are very expensive

@YourSpoiledness Год назад

Congratulations!

@jeromeharris2218 Год назад

I live in Charlotte... this is definitely a high crime area... ( would be cool if the brother offers affordable housing rates )... but you have to make whatever profit you are shooting for...

@intentionalrelations Год назад

High crime area aka hood still have paying tenants. Own the block

@jeromeharris2218 Год назад

@@intentionalrelations not worth $1400 per month, but I'm aware of capitalism...

@intentionalrelations Год назад

@@jeromeharris2218 your an active participant in capitalism sir. Your $1k+ cellular phone is evidence. Instead of paying rent-own.

@jeromeharris2218 Год назад

@@intentionalrelations my cell phone is $100 from Walmart... and for the record I have no issues with capitalism... # survival of the fittest

@denniswilliams1551 Год назад

This is off Bradford dr

@tacarlathomas2583 Год назад

Congratulations 🎊 👏🏿

@Edward-gt4mi Год назад

Good stuff!!!

@edenhajas1445 Год назад

I'm impressed with these 2 young bratha's business minded 🌳🏠 🏠 🏠 🌲

@clarencegordon6259 Год назад

Man! The Charlotte area is growing & Great! Purchase sheesh!❤

@gregunltd Год назад

This makes sense for the location.

@ronniewelch7817 Год назад

Putting on for Charlotte N.C hell yeah 😎 I do remodeling all over Charlotte and gaston county

@HumbleAnJoyful Год назад

This is very inspiring 🎉

@realtalkwithmari4976 Год назад

Exactly, Staying is way scarier than anything we face on the side of Entrepreneurship.

@wagrealtyllcnorthcarolina7726 Год назад

With the Carolina hard money what do they ask for for a minimum credit score? I just applied but it’s the weekend and they are closed. I have a home that I’m trying to buy but the fees attached to it by the city are keeping me from being able to close because they are close to $10,000 over what I thought the property would go for. Maybe you and I could work together?

@abrahammason6747 Год назад

👍🏽👍🏽Get your spray canister and hot water hot water for the ceilings then easy to scrap like butter lol... Make sure cover floor with plastic tarp or any tarp.

@kimberlyngeorge5829 Год назад

Fire!!!

@ronnieneville5914 Год назад

Keep it hard wood 🪵 that's coming back in style can't beat old school 🏫✌🏿.

@ninasimone1207 Год назад

Depends on the target clientele.

@markjou9799 Год назад

Looks good. This area has been slowly becoming gentrified over the last few years. I like it.

@realestatedoru Год назад

Absolutely

@MACQJR Год назад

How much per unit after it’s all said and done can he rent them for??

@NSWM2 Год назад

Dallas is around 200k a door. You can buy better outside the metro at half that price with a value add play.

@swugaddies3420 4 месяца назад

Time mark for ALL number break downs ?

@IamCarolinaEL Год назад

Looks like Tanglewood can be a great move tho

@3threesmiles Год назад

Doru I have a question. How do I get in touch with you?

@kellonthegreat Год назад

Great content @Realestate duru , but we need better audio, we need to clearly hear those gems 💪🏿💪🏿

@timtim7527 Год назад

That's definitely off Bradford key street Charlotte NC

@Cal-fr9mw Год назад

I wish I had the cash to be able to buy stuff like this

@armanitransport2604 Год назад

You don't really need the cash all you need is a nice business plan and some good credit. 🤔

@zopound7688 Год назад

Me too

@getcloutorgetnothing7503 Год назад

Just need credit and loans you use the banks money to buy real estate

@mrsicklestrong9055 Год назад

I use to stay here...Definitely the hood on the Westside of town

@jazminecurry9490 Год назад

I wouldn't take out the window in the bathroom more likely will get moldy etc maybe a upper small window instead for venting

@genesweet67 Год назад

Strong fan will work just fine

@JT0007 Год назад

He’s living the 🇺🇸 dream

@sisyaffayahyisrael2112 Год назад

Shalom, how you do it???

@Kinte.Rashayah Год назад

Charlotte NC in the house. I'm uptown in Fourth Ward.

@leslieenoch Год назад

What street are those on?

@benjaminmoore1445 Год назад

Awesome

@bossman6729 Год назад

Good investment. The deal is the land not the units. The units will pay for the land. The land zoned Multi Family inside the 485 loop will become gentrified and value of property will skyrocket.within 10 years. Property located in Opportunity zone when sold after 10 years could be capital gain free

@bayodaman Год назад

I love he’s doing his thing, hopefully he doesn’t make it to high people need housing they don’t need to get screwed over for profit

@the.littlest.toaster Год назад

Trust they will

@kennethokonkwo1147 Год назад

Smart move

@richardgonzalez2360 Год назад

Hi great information How did he structure the deal? All cash syndication. Who pays utilities? Don't know nothing about Charlotte. But doing deals in Puerto Rico. Txs

@Enterprise81 Год назад

What part of Texas ? I'm in DFW

@richardgonzalez2360 Год назад

@@Enterprise81 puerto rico no texas

@ronb3360 Год назад

Nas we know a lot of the same people! We played ball together back in Winston.

@realestatedoru Год назад

Wow that’s crazy bro… 😳 small world

@tydriccusburris Год назад

I stay in Charlotte

@MrChappey711 Год назад

Did he answer the question on how he financed the deal? I was washing the rain🌧 , then I lost my wife to pokie and Ray Ray, my dog ate my wifi, and she left me too.

@HighVibe001 Год назад

Thanks for the video. But Im concerned about the displacement of current tenants? As a future investor, how do you keep rent affordable for the longstanding tenants?

@DaVonteLee_ Год назад

If that’s your concern this business may not be for you

@EnterTainment-vv1qs Год назад

@@DaVonteLee_ Lmaoo 😂

@kristycoward5637 Год назад

@@DaVonteLee_ Exactly

@victoriaspruill7287 Год назад

@High Vibe Section 8 Housing Program

@HighVibe001 Год назад

@@DaVonteLee_ i dont want to help displace more black people. That could put someone on the path to being homeless

@dexterramey8787 Год назад

Intermittent fasting is a great way to keep weight in check.

@realestatedoru Год назад

Yeah, I keep hearing that..

@thematrix5115 Год назад

True that. I’m seeing results of this right now.

@KNByam Год назад

I've tried it. It really works. The problem is you get the urge to compensate when you do eat.

@dexterramey8787 Год назад

@@KNByam that why I start with a large salad.

@trill7003 Год назад

Born and raised in Charlotte and still living here. They should have tore down those apartments a long time ago. That's like tryna bring a '68 Chevy back to life. He just making whatever he can off the real estate market these ppl don't care about the community FACTS

@rmheatandcool9784 Год назад

We can come out and pressure wash them!

@THEE-BLK-CONSERTIV Год назад

I could buy a whole block in a area that doesn't grow equity.

@cltpropertysolutions7274 Год назад

What zip code is this in

@realestatedoru Год назад

28208

@mount2funny537 Год назад

That's off Bradford and freedom dr

@HYMNKING704 Год назад

West side.

@Cryptocup316 Год назад

No west Blvd. Hemphill area.

@HYMNKING704 Год назад

@@Cryptocup316 Ok I know we're that at. 💯👊🏾

@antoniomcmahon3499 Год назад

I'm seeing comments about how he's not gonna get his money back..I moved from Charlotte 6mths ago after 11yrs and he's definitely gonna make a killing. He could just government assistance them for couple years until the overall Gentrification of Charlotte comes knocking. I sold my investment property off Betties Ford b4 I moved to Maryland to get into legal Weed game and I made 150% profit after 2 1/2yrs! Charlotte still has diamonds in the rough to grab..they both know what they doing im sure! Congrats!

@coltonlinn9684 Год назад

He will definitely make his money back in 2-3 years with the way people are moving into charlotte.. Charlotte is starting to book from the schools and colleges to the new jobs in downtown charlotte shiii even they sports teams

@kjschroeder2010 Год назад

Not a bad investment - so basically after 4-5yrs - he should be getting his money back & start to make a profit.

@prospect357 Год назад

I live in Charlotte I need 1 of those apartments

@NauqNauq Год назад

No you don’t

@bricks10751 Год назад

I live in New York and no that is not possible

@ErickaWilliamsCC Год назад

This same place was Hella cheap for sale in 2011 I think it looks like same area.

@EnterTainment-vv1qs Год назад

How much was it in 2011?

@realestatedoru Год назад

I purchased a house 2 doors down for 8k years ago.. I should not have sold.

@EnterTainment-vv1qs Год назад

@@realestatedoru how much is that same house worth now?

@NauqNauq Год назад

Is that Dillehay?

@user-ib4xr1sl7v Год назад

Naw

@ericpowell4350 Год назад

Overseas not "across seas" .

@johncuervo3019 Год назад

Man, that shit where I grew up. That's on hovis road. Those people don't pay rent. He f'd up buying those

@realestatedoru Год назад

It’s changing man… and with proper management you will collect rent..

@kevinforeman4485 Год назад

If he accepts some government program the $$$ guaranteed. Problem is let's be real alot of the people who depend on those type programs are not the best tenants. People with a little structure in their life (work ...maybe a little church,temple or kingdom hall whatever) tend to take better care of the property than those with alot of time on their hands. No matter the race.

@teezee1000 Год назад

I agree. Charlotte is changing for the worst especially in some areas... Unless he hires robocop I dont see a good return in investment.

@aknationnews Год назад

But but Jay Morrison.

@troyburks6901 Год назад

I'll do all them units floor kitchen electricals split units 2000. I supply them brotha to brotha I'm head Ga coming from Cali we b perfect fit may move them water heaters

@yungjohnson76 Год назад

Nice so ig I’ll take my 1.2 m from under my mattress n do the same🤷🏼

@bingo8789 Год назад

Why are we hearing about ball players buying property

@roundedges2 Год назад

He's not a guru--He's a DO-ru!

@Atl8720 Год назад

115

@BadNewz52 Год назад

Yall in thomosboro apartments 😂

@boatsoar2557 Год назад

So y'all charging 1.2 while the rent is 800 900. Don't throw out them market prices. Throw out the price of lumber in 2022 vs 1980. Ya'll hell man.

@THEE-BLK-CONSERTIV Год назад

Bad investment 1.2 apt building going for 5-6 hundred a month 😆😅🤣😂liability!!!!!!!

@demetresblakley1352 Год назад

U have to invest in order to create generation of wealth!

@feraynor205 Год назад

MOVE In Silence

@HYMNKING704 Год назад

What's his Ig name.

@realestatedoru Год назад

It’s in the description

@jamescampbell4661 Год назад

They should hire professional actors to do their videos.

@zacharyvalloric9076 Год назад

It’s not hard to do when you have athletes money

@carpet8991 Год назад

No money in the rental market, don’t be fooled, people don’t pay rent in low income areas

@realestatedoru Год назад

That is not true. I’ve been investing in low I come neighborhoods since I got involved in real estate in 07

@genesweet67 Год назад

Not sure I understand your comment

@vinceaikens195 Год назад

He bought a piece of crap that needs constant maintenance and you have to deal with renters that don't want to pay Good luck. Lol

@6lakGesus Год назад

How is this helping black people in that area if you not willing to dedicate a few apartments based off income it something, your basically saying eventually they gotta go and that's just business but just business won't get you closer to God but it will get your pockets fat 🤷🏿‍♂️

@chiefs5822 Год назад

donate a quarter of your check then you can advise!

@6lakGesus Год назад

@@chiefs5822 this dude is going into poor black neighborhoods kicking the poor black people out and moving in whoever can afford it how fair is that when these people have been in these areas for years and there are no more areas in the city that they can afford jobs aren't paying more so what are these people supposed to do regardless of their education level you are basically telling me that they should have nowhere to go so this man can make a few dollars f*** you and him

@chiefs5822 Год назад

@@6lakGesus You can donate some of your cash towards the poor people, that would help them afford some of the rent?.. Possibly others in that neighborhood can do the same. He is a business man, not a charity organisation, and he has a right to act as such.