How DID I BUY 10 Properties in 10 Months?!

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A lot of folks ask me how I was able to do 10 deals in 10 months, or how I bought 15 properties in 3 years. Well, I'm going to walk you through how you can do it too - step by step (at a high-level). It is possible. It can be done using the Rosehart Real Estate Snowball (because hey Canadians Love snow). I've done it, I know others who have done it, and you can do it too!
Introduction to the BRRRR Method:
• BRRRR Method: Cash Out...
Follow-up whiteboard version of this video here: • HOW to Buy 10 properti...
#brrrr #realestate #rosehartsnowball
Anyone Can go from 0 to 10 Rental Properties in under 3 years with the Rosehart Real Estate Snowball. That's right, 10+ properties in less than 3 years! You can do it, anyone can do it, I did it. Anyone can become a millionaire and retire early in less than 5 years with the Rosehart Real Estate Snowball!
Key success factors you must possess to best execute this strategy:
1) Get a full-time day job making an average salary of approximately $50,000 CND.
2) Become obsessed with Frugality & high savings rates. Save what you earn!
3) Deal Hunt like a Pro. Money is made on the buy-side with real-estate.
4) Learn to Renovate & Manage contractors. Ideally renovate below market value.
5) Refinance to ARV (After Renovated Value).
*Repeat (Buy another of the same type of properties - REPEAT) until desired number of properties is reached or desired monthly cash-flow from rental hacking is achieved.
Also, check out my blog www.25andfree.com for more real-estate and personal finance articles!
This video is linked to my website here: www.25andfree.c...
Please like, subscribe, & share if you enjoyed this content.
Mike Rosehart Business & Coaching Inquires: 25andfree25@gmail.com.
If you want to speak with me on the phone or over skype for 1 on 1 coaching calls, I have decided to make myself available on a limited basis (so long as it doesn’t infringe on my retirement & freedom). Given the availability in my calendar is limited I have to charge $99/hour to ensure I don’t get swamped with requests. That said, most of what you need to know is out there on RU-vid and in my videos. I look forward to hearing you from you.
How to Contact me:
My Blog: www.25andfree.com/
Facebook: / mike.rosehart
Instagram: / mikerosehart
Twitter: / mikerosehart
SUBSCRIBE: / @mikerosehart
Bigger Pockets: www.biggerpock...
Michael Rosehart is a 25 year old early retired, self-made millionaire, with a young family, who unlocked financial independence at the age of 24 through Real Estate investing and extreme frugality. He bought his first property at the age of 19 (in 2012), while still in university studying business finance, and scaled up to build a 15 property portfolio in 2017 that cash-flowed over $12,000/month (net) in London, Ontario, Canada (The FIRE Mecca). Mike is obsessed with all things personal finance. He created this channel to share what worked for him, what didn't, and to help educate others on all things financial independence (FI), real estate, and managing it all with a young family. Subscribe to follow Mike on his journey to help others unlock financial independence by creating passive income streams!
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Please watch: "STOP Overpaying for Real Estate: Invest in Market Inefficiencies"
• How to Buy Real Estate...
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Опубликовано:

13 сен 2024

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Комментарии : 184

@MikeRosehart 5 лет назад

The BRRRR Method Introduction video I just dropped: ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-IEp5C97jtlc.html

@jordanking7550 5 лет назад

Intend to apply this method on the next property as it's so expensive to get into the Vancouver BC market; condos are over 300K+ easily.

@MikeRosehart 5 лет назад

Jordan King ❤️ let me know how it goes!

@MikeRosehart 4 года назад

duchess eagle theoretically yup

@jeffbonds3850 3 года назад

i love how your videos are full of content its not just 60% talking 40% let me sell you blank, just straight full of content good work.

@ViewingAccounting 6 лет назад

You are killing these videos, really helpful and motivating stuff! Keep it up, can't wait to see this broken down on a whiteboard!

@MikeRosehart 6 лет назад

Jrsmithz thanks!! I’ll definitely be laying it out in a future deal.

@joshua_jfly 6 лет назад

I’m 19 living in of Dallas,TX planning to buy to buy my first rental property by November. Thanks for this, most people charge for stuff like this!

@MikeRosehart 6 лет назад

Joshua Jfly thanks! The hope is that adding value brings me a decent audience. I don’t mind providing value for free :) I run on fan support.

@sethtanksley9142 4 года назад

Love the straight forward no bs content!!!!!

@MikeRosehart 4 года назад

seth tanksley thanks 😊

@prairiehomeinvestments9571 5 лет назад

We’ve been spending the last 6 months perfecting our strategy for LEAN FIRE using the BRRR strategy in Edmonton. I got a little discouraged the other day after talking to my mortgage broker, because the numbers just weren’t working. I listened to this video on my drive in this morning and you actually gave me a great idea on how to work around it! Thanks so much for the inspiration 😀 I’m rapidly consuming your content and Matt’s. Lots of great stuff 👍🏻

@MikeRosehart 3 года назад

Thanks 😊 Sorry to hear that. Try another broker!

@EzraFitch21 6 лет назад

Thanks for this great info! I’m currently working to save up a down payment for my first investment property and I’m gonna go into it with your method in mind.

@Dave33202 3 года назад

I wish we were friends in real life, you are sort of my mentor seriously. Keep the videos coming mike! Much appreciated

@noahgardner9358 6 лет назад

Keep posting good content! I’m learning a lot from your videos.

@MikeRosehart 6 лет назад

Thank-you Noah. I promise to produce content several times a week if people continue to gain value/benefit from it. I measure my success in transformed lives now. Comments help keep me motivated & on track!

@honestly101 6 лет назад

Wow! Thank you Micheal! It was great meeting you tonight. #RosehartSnowball

@MikeRosehart 6 лет назад

Noel Bissoondial great meeting you at #LondononFIRE tonight as well. Thanks for watching and following along. Look forward to connecting in the future. Michael

@dontrinh7686 6 лет назад

I love watching these videos, I would like to learn more about refinancing and the approval rate from banks. I currently have enough capital to buy my homes outright and intend on applying this strategy. Thanks again! Also forgot to mention that I’m completely clueless when it comes to hiring contractors, if you can make a video on this I would much appreciate it.

@MikeRosehart 6 лет назад

Thanks so much Don for watching. I can definitely make some videos on those topics for you. I really appreciate the support!

@barbvanharn678 6 лет назад

Thank you for this information, Michael, very interesting and valuable - I'll share this!

@MikeRosehart 6 лет назад

Thank-you Barb! I appreciate that. I am just experimenting and learning how to use youtube.

@ShihabPersonalFinance 4 года назад

excellent video man, impressive no editing haha, the problem is getting approved for that mortgage, your 55k salary isnt enough to get approved, not all banks consider 100% of rental income

@MikeRosehart 4 года назад

Shihab's Blog it was enough for us and Scotiabank and rbc do the cross off method. When rental income is triple the mortgage you’re usually ok - which is the case in London, Ontario if you focus cashflow.

@MikeRosehart 4 года назад

Shihab's Blog straight up iPhone iPhone 6

@ShihabPersonalFinance 4 года назад

@@MikeRosehart great content, I am from Montreal, Qc, we still have modest prices in the suburbs

@jc802413 3 года назад

Mike Rosehart this is the reason for such a large initial down payment?

@mattwhitney8202 3 года назад

This is incredible, thank you! Just found your channel and looking forward to seeing more videos

@husseinyahya9634 4 года назад

Love your videos I’m 14 and really learning from your videos

@thmo9449 4 года назад

Simple exapained. Already subscribed. Thanks

@AlexRevs 4 года назад

Sharing this with all my friends I'm trying to get into real estate!

@Coast_to_Coast 6 лет назад

Great job. Keep the videos coming!

@nicolassanchez1262 5 лет назад

I've learnt so much with you, this is crazy! Hopefully I'll be moving out to Montréal, from Colombia, in a couple months and I'll start looking for a good investment market!

@MikeRosehart 5 лет назад

Thanks Nicolas!! :)

@Yosefbball 4 года назад

3 questions: 1) would you normally take a 15 or 30 year mortgage? 2) does my rent revenue have to be higher than my "post refinancing" mortgage payments? 3) once the mortgage is over, i am now left with a bunch of cashflow coming in every month? so the real cash flow will come in after the life of the mortgage?

@ThePhenomenalMsJames 2 года назад

Do you put your properties under a LLC or do you keep them in your name?

@propellerpropertygroup 6 лет назад

Great video Mike! This is some great advice on how to build wealth with RE without over leveraging. There's so many 'zero down real estate' type strategies out there, it's nice to see a level headed, realistic, and less risky approach broken down. I'm following basically this exact strategy currently - BRRR and snowball, it's very powerful. I may reach out and pick your brain on some of the minor details! White board would probably help illustrate, but you did a nice job breaking it down simply to follow along

@MikeRosehart 6 лет назад

Thanks Phil for watching! I plan to film a further in-depth video walking through the examples.

@MiguelLopez-mh5ih 5 лет назад

Dude your mind is so sharp. Awesome awesome awesome plan and understanding of the execution

@1xxicecatxx1 4 года назад

Hey professor mike hope you had a great weekend. Question on how to deal hunt effectively. Did you make any articles or videos on to be effective during this stage

@MikeRosehart 3 года назад

I do touch on it dozens of times in my live shows for sure. I’m trying to remember if I have a precise video for just deal hunting - probably.

@1xxicecatxx1 3 года назад

@@MikeRosehart ill take a look again. Enjoy thw weather today its blessed

@amolgill7480 5 лет назад

Hey Mike, I just came across your channel.Your content is amazing and this video in particular was very helpful. I've started saving money from my job at age 15. My goal is to buy at age 20. One thing I worry about it tenant selection. Can you make a video discussing how you screen tenants and do your due diligence.

@MikeRosehart 5 лет назад

Elite Investor thanks 🙏

@amolgill7480 5 лет назад

Mike Rosehart will you make a video on tenant screening soon ?

@xdozie 6 лет назад

good content. I will be looking into this strategy

@dakotacarter 5 лет назад

Hi Mike! It seems we have a lot in common and I am happy to have stumbled across one of your videos. It led me to learning a lot more about you through your videos! Truth is I would love to speak with you personally and discover a potential between us. You know how you can befriend someone and spend a lifetime with a new like-minded acquaintance? That's what I aim for! I am a 27 year old zealous entrepreneur with dreams bigger than most would believe are possible. This is the best way it seems to reach out after reading your website. Stay awesome! :) Dakota M. Carter

@MikeRosehart 5 лет назад

Aww thanks :) Amazing! Reach out on insta @mikerosehart

@justinedeleyer4894 4 года назад

Love this video, thank you for spelling it all out!!

@trinydavidson178 4 года назад

Question. And are you still paying the mortgage of all those properties?

@brentshuffler1234 5 лет назад

Very good strategic points, Mike! I would love to work with you in other markets. E.g., in the Caribbean islands that I know, there are NO CAPITAL-GAINS. [smile] See why I was happy (not at first, but over time) to leave Canada? [wink]

@jayabad6558 3 года назад

Yes i like the idea. But banks dont make loans over four properties. I saw a video he explained that no matter how good your income is with your job and rentals, the bank doesnt allow 5th 6th 7th an so on mortgages. So how did you do it in your financing Thats the real hurdle i think.

@ricardomacgomes 3 года назад

I just have one single question, when you ask for a refinance, the bank does not evaluate your effort rate?

@zalenemail 5 лет назад

hi Mike, thanks for another great video . is it better to go with mortgage specialist that works with different banks and lenders.vs bank mobile specialist that works exclusively for the bank, and is it safe to rely on google or yelp reviews ? pls advise thanks!!

@GOLD3NBOY 6 лет назад

Hey man, I basically have all the basic criteria ($40k in the bank, 800 credit score, $55k job) the only issue is that I live in the Los Angeles area with ridiculous housing prices. Obviously I'll take your opinion with a grain of salt so I don't make any rash decisions, but if you were me, would you consider relocating away from home to get the snowball rolling? I really want to make this happen but I see the obstacle of the market in front of me. Please give me your unfiltered opinion. Thanks! And very happy I found your channel.

@MikeRosehart 6 лет назад

Y E R R R I don’t think I could have done what I did in LA without relying heavily on appreciation. I moved to London, Ontario, Canada because it’s a fantastic market. There are hundreds of markets in the US where this strategy would work. Maybe there is a happy middle ground? Somewhere near where you live now that is a smaller city? Maybe you have family in another city? I’m not necesssry saying you need to move - you could find a JV partnership or two as well, and apply this strategy from a distance... I’m a big fan of owning local - I like to touch and feel my properties personally.

@MikeRosehart 6 лет назад

Y E R R R thanks so much for the support!

@MikeRosehart 6 лет назад

Y E R R R I’m hoping future videos will help

@GOLD3NBOY 6 лет назад

Thank you man! That was extremely helpful, I really appreciate it. Yeah I'm trying to feel out all my options but I agree that owning local would be my preference. It's just hard to with the way it is in the LA area. Thank you for all the feedback and content and I wish you all the success man. I'm sure I'll be leaving another comment again soon! Take care

@user_abcxyzz 5 лет назад

@@GOLD3NBOY I'm in the bay area looking to partner/build a team. Message if wanting to conversate regarding this

@bldfinancial 3 года назад

The Rosehart snowball! Love it!

@ZeroGenerations 4 года назад

Does this still work effectively right now in London's real estate market? This definitely seems to be one of the fastest and steadiest ways to accumulate net worth at the outset. Great value from this video! Thanks a lot MIke.

@MikeRosehart 4 года назад

I’m still doing it :)

@ekowanderson6396 Год назад

Hey Mike please wanted to ask how fast you get tenants into your properties just after rehabs. How do you do it? Through property management?

@JoseGonzalas 5 лет назад

Thanks for the video great information👍

@MikeRosehart 5 лет назад

J.B thanks 🙏

@krillansavillan 6 лет назад

Awesome approach

@MikeRosehart 6 лет назад

krillansavillan thanks!

@meganevans9535 6 лет назад

Excellent video! You mentioned you'll talk more about how to maximize the reappraisal value, can you expand on that? About to do my first BRRR, finished the renos and about to do the reappraisal soon, would love to squeeze every dollar from it I can

@MikeRosehart 6 лет назад

Hi Megan, Thanks for watching and commenting. Yes, I have strategies one can use to maximize re-appraisal value. I JUST am putting out a video now walking through the 3 approaches an appraiser uses to value a property and I plan to come up with further indepth videos. So check that video out if you want to learn about how the appraiser values your property and therefore how you can ensure it appraises well. Knowing the formula is key to mastering the game :)

@5250ITW 3 года назад

Hello Megan, is love to be in your shoes. How did you find the property to begin? Thank you

@5250ITW 3 года назад

For first BRRRR how far from your primary do you recommend? Also is there a site in which I can find these types of properties? Thank you

@delmariesantana1683 4 года назад

You are brilliant! Is age a factor in the success of these strategies? I'm 50 and I made wrong choices thru the course of my life. Bad divorce and tying myself to the wrong people. Now I'm on my own, do you think is possible even for me?

@MikeRosehart 4 года назад

Delmarie Santana I think it’s possible at any age.

@jarodithompson199 4 года назад

Would this work if I was a real estate agent full-time.

@thebestclassicalmusic 5 лет назад

So... why would the bank lend on these. It is hard to qualify for one mortgage -- help! :)

@jordanking7550 5 лет назад

Hey Mike, love the videos. I'm Canadian, how can you cashflow 900$ per property? Is this assuming nothing goes wrong with any properties (roof , plumbing, appliances, cosmetic damage from tenants or natural wear?)?

@MikeRosehart 5 лет назад

That’s after considering everything.

@jordanking7550 5 лет назад

@@MikeRosehart Ah, figured as much. Appreciate the reply and will be sure to follow along as I try to live frugally and house hack on the next property after I sell this one soonish (I'd rather not sell it but it doesn't allow rentals, first apartment was just to get off the ground and renovate to get into a town house).

@MikeRosehart 5 лет назад

Jordan King ❤️

@sootheyoursoul7978 4 года назад

hey mike, loved ur vids. just a quick question, does the mortgage rate increase after you do refinancing or does it stay the same with the original mortgage loan rate?

@MikeRosehart 4 года назад

Thanks! No, it doesn’t.

@alfonsosolano3486 6 лет назад

This was great thx brother !

@DEXVD 5 лет назад

Had commented previously about the 1% rule, sounds like you will be making a video on that. As far as this strategy is there a way to do it more slowly? With say a little less leverage and living off say 50% of your income but of course over a longer timeline?

@MikeRosehart 5 лет назад

DEXVD of course, it just takes a little longer. The less aggressive, the slower it goes, but the principle still applies at 50% savings rate.

@MikeRosehart 5 лет назад

DEXVD definitely. 1% of house price = desired monthly rent. Or monthly rent x 100 = desired house price

@michaelkim9897 5 лет назад

Hi Mike! Do you think this model would also work in Edmonton/Calgary? I'm planning to move there in the next 2/3 years.

@MikeRosehart 5 лет назад

Michael Kim it should work in any market, but the cashflow would be less, so it’d be a little slower. The equity BRRRR and high savings rate would still work

@Dabaobao23 5 лет назад

i love your idea. please show me one property you mentioned right now, so i can put in an offer immediately. Also you didn't account for time of renovation, and time of looking for property etc, and also bank might not recognize your rent as income, yet

@MikeRosehart 5 лет назад

I left 6 months between each project I believe, but was doing multiple projects in tandem in the example. DM - there are opportunities like this in London I come across once a month that are close to full BRRRRs. Of course this is a best case scenario.

@minchang6028 4 года назад

Hey Mike! loved the info! I just bought my multi-family as well trying to do exactly what you did there. The thing is, how does the bank give you more mortgage once you hit that max $$$ mortgage that a bank can give you?

@MikeRosehart 4 года назад

Min Chang there is no max? More rental income should allow you to keep buying. Find a different broker if they tell you there’s a limit.

@minchang6028 4 года назад

Awesome! thanks for the fast reply! Sent you a Linkedin connect. Would love to connect!

@jc802413 3 года назад

Mike Rosehart What about debt to income ratios? First couple smaller unit properties or single family homes won’t have that much cash flow above their respective mortgages? Curious because I’m looking to purchase a second property, but worried about dti.

@TravisVanSluytman2 6 лет назад

Do you take off a vacancy rate %, property management fees (even if you manage), and a R&M budget and still receive a 25% COCR?

@MikeRosehart 6 лет назад

Yes, that's net of everything including R&M, utilities, taxes, and I manage my own properties so I have no management cost beyond the odd calls to contractors to handle problems on-site. I include mortgage paydown. I aim for 25-40% (NOT INCLUDING APPRECIATION). CHeers! Thanks for watching!

@dushaanp4848 5 лет назад

Thank you for this info. How were you able to refinance your first student rental property? What process did you use get a bank to agree to finance a student rental?

@MikeRosehart 5 лет назад

Dushaan P I lived in it and didn’t call it a student rental. It was my house. Primary residence :) I moved quite a bit, primary residence after primary residence. It’s also tax free on the gains.

@dushaanp4848 5 лет назад

@@MikeRosehart appreciate the response. Keep up the great videos!✌️

@Ihave10billionsubs 6 лет назад

Thanks for the information Mike. Do you think this would work in the states or is it really only suitable for Canada?

@MikeRosehart 6 лет назад

Kman L it’ll work in the states the same way. It’s harder in large hcol areas.

@pjperlitz11 4 года назад

Would you say this works proportionally if someone were to have a few million dollars and started this cycle with a million dollar down payment for like a 80 unit property after renovation you could multiply your amount of properties just as quickly right?

@MikeRosehart 4 года назад

PJ Perlitz yes, but it’s much harder to find BRRRR properties at that price point since you’re competing with institutional money.

@mjohnson77682 5 лет назад

Mike - With respect to a purchase plus improvements mortgage, would the bank not want to see the final bill for the renovation before they would release the funds to you? In your example, you get a high priced quote for $60K but then have someone complete it for $15K. Would the bank not want to see a paid invoice for $60K before releasing the $60K to you? If you show them a paid invoice for $15K would that not cause an issue and result in you only getting $15K? I feel like I am missing something.

@MikeRosehart 5 лет назад

GhostsOfAsia yes typically you need an invoice from the contractor for the work. You could just refinance it and base on an appraisal

@JohnSmithh644 Год назад

You mentioned reducing your taxable income by using your tax advantage account and using it later for a down payment. if your saving to buy first rental, should you be saving in the rosp or non tax advantaged (but more accessible) account?

@rishavmajumdar6954 4 года назад

Hey mike, I have a question for refinance. When you refinance, does your mortgage payment increase? Is there a way to keep the mortgage payment the same even after the new appraisal?

@marionharris5952 2 года назад

Any new info?

@lpzy796 4 года назад

Dose this strategy still apply to this day? I live in vancouver so it won't work for me. I'm willing to move to wherever i can to apply this strategy. U say london intario?

@cdnbroncolife1889 4 года назад

Mike, et ALL..... thank you for the content but to those that are watching and reading comments...do your homework. Don't get caught up in the whirlwind. Historically, slow and steady wins the race too. So, this isn’t as easy or straightforward as he makes it sound. Lenders in Canada now are heavily restricting how many rentals people can have, and how they use offsets. This is even more prevalent in Alberta sadly. Based on current federal guidelines, there is only a few lenders that will accept economic rents (appraiser generated, versus lease agreements) I’ve also run into maximums on rental income someone can claim prior to it being deemed commercial revenue. That said, he’s talking about purchasing very cheap properties, which you could potentially do with leveraging one main property.

@MikeRosehart 4 года назад

CDNBroncoLife this strategy requires a heavy investment of time. Basically a full time job on top of your full time job to add value to the properties. It is totally possible. But it is not without work. I’ve helped lots of folks do exactly what I did. It can be done in a flat market as well.

@MikeRosehart 4 года назад

CDNBroncoLife if you only buy 1% rule or greater properties and use the right lender you’ll be ok. 7/10 brokers aren’t the right ones.

@MikeRosehart 4 года назад

CDNBroncoLife 300k house must rent for 3000/month for a good BRRRR to debt service. I buy 1% rule properties in south western Ontario, and that means I have to be selective with what I buy. Majority of properties won’t BRRRR. I did a idea breaking down the BRRRR.

@cdnbroncolife1889 4 года назад

Fair enough Mike. Don’t assume (by your comments) that people don’t work as hard as you do. Geographically speaking, your 1% rule is unattainable in 90% of Canadian markets right now.

@MikeRosehart 4 года назад

CDNBroncoLife I know folks who have got it in Toronto area, Edmonton, Windsor, London, sarnia, all of out East - Newfoundland, New Brunswick, etc. I’d say it’s attainable in 90% of markets, but only 10-15% of people attain it. Even in London it’s hard to find. I have folks telling me it is impossible here and I locked up 25 of these type of deals. Often it requires a duplex conversion or student rental to achieve. You’ll never get it with single family houses in most markets.

@gooddev506 5 лет назад

If you live and work in Toronto but want to buy an investment property in another city which doesn't cost a million dollars. which city do you think is better to buy your first investment property? could you do a video on how to choose cities for buying investment property.

@MikeRosehart 5 лет назад

good dev - I prefer to go into cities that have diverse economies and good rent to price ratios. It also helps to choose cities where you can find good prop managers or advantages :)

@MikeRosehart 5 лет назад

good dev good comment.

@gooddev506 5 лет назад

@@MikeRosehart Thanks.

@GlobalOpportunitiesCanada 3 года назад

Mike what happens if you have a house and you dont have an income -because you are self employed person and banks say your house is not an asset is a liability eventhough I have some equity but I cant take it out because of the product your mortgage was put on when I got my house-

@MikeRosehart 3 года назад

Global Opportunities Canada - rent it - or part of it out to show the bank it generates income. You could still borrow against it if you have an income

@Speedy10000 Год назад

What market did u do this in

@TheTomboy345 3 года назад

What about in America?

@nicolaanis9 4 года назад

can u please add some comments in ur video instead of only ur face in entire video, this will help in summrising what we are listening.Thanks u r great!

@cdnbroncolife1889 4 года назад

So, this isn’t as easy or straightforward as he makes it sound. Lenders in Canada now are heavily restricting how many rentals people can have, and how they use offsets. This is even more prevalent in Alberta sadly. Based on current federal guidelines, there is only a few lenders that will accept economic rents (appraiser generated, versus lease agreements) I’ve also run into maximums on rental income someone can claim prior to it being deemed commercial revenue. That said, he’s talking about purchasing very cheap properties, which you could potentially do with leveraging one main property.

@MikeRosehart 4 года назад

CDNBroncoLife Scotiabank mobile mortgage specialities are able to do up to 10 mortgages, right now. After A lenders max out at 10 properties you go B lender if you want another 10 properties if you’d like. I know because I’m coaching people through it right now and I’ve done in the last few months.

@cdnbroncolife1889 4 года назад

@@MikeRosehart Thank you for the reference to Scotiabank.

@pav5157 4 года назад

But houses in the lower mainland around Vancouver are very expensive

@MikeRosehart 4 года назад

Paviter Atwal ya so this would require way more capital in Vancouver you’d have to acquire outside the main areas.

@caitlinsanchez3206 4 года назад

Can I do this only making 30K? My projected rental income would double it to 60K.

@kongvang8825 3 года назад

How do you deal with a realtor that is impatient? They make you sign these agreements and after showing a few properties they become pushy, even with a preapproval letter. uggh!

@MikeRosehart 3 года назад

Find a bad realtor to practice on...

@Speedy10000 Год назад

I guess you know matt McKeevr

@pgrealestate2005 5 лет назад

my current strategy has been brrr for plex's, i dont get how you do this with single-family homes i don't understand how you find the revenues for this while plexs it just tells you already just seems very risky.

@gitabasyal5342 3 года назад

@ryanmitrovski667 6 лет назад

Hey, what agent do you use in london that is knowledgeable on investment properties?

@MikeRosehart 6 лет назад

Ryan Mitrovski there are a few really great ones. I’ve had good experiences with Syed Moosavi and Jeff Wybo is also great.

@ryanmitrovski667 6 лет назад

great to know! Is it hard to find renters in London?

@ryanmitrovski667 6 лет назад

And also what are the best ways to find people to rent properties in the city of london

@MikeRosehart 6 лет назад

Ryan Mitrovski kijiji is a good source for tenants.

@zalenemail 6 лет назад

How do you refinance? The rules now will subject a mortgage to the new stress test if you plan to refinance or alter the mortgage right?

@MikeRosehart 6 лет назад

zalene mail it is not really an issue. Mobile Scotiabank and cibc brokers for instance have a program where a property can service itself and essentially be “crossed off.” What that means is if I bought the right type of high cash flow property I can refinance easier after buying than before. There are obviously going to be roadblocks. For instance, one bank typically won’t provide more than 4 mortgages for you, so you need to branch out. Unless you pay higher interest rates and go through a credit union.

@MikeRosehart 6 лет назад

zalene mail by the old stress tests (when I was doing it), I wouldn’t have qualified for more than 1 property with my $50,000 salary. Yet, I was still able to do it. The snowball actually made it easier as I got more income from my rentals. There is definitely an art to doing it. It’s a skill set I hope to pass on to you guys in future videos.

@zalenemail 6 лет назад

Mike Rosehart I have a rental property that is paying for mortgage and other expenses although not cashflowing but equity had increased by 50% . Bank are particularly looking at income. The price here at Vancouver Fraser Valley is too high. Plan on investing in other areas, would you consider joint venture? May I have your E-mail?

@MikeRosehart 6 лет назад

Sure, you can reach me at 25andfree25@gmail.com - though I sometimes take a while to check that e-mail. I'm always open to JVs if I have the right deal and the right structure works.

@zalenemail 6 лет назад

Can I still apply the same strategy here in Vancouver suburb? Is there a way to still invest in here?

@MikeRosehart 6 лет назад

zalene mail no you can’t apply it in Vancouver. The properties don’t cashflow well enough to service themselves for the lender, so I think you couldn’t.

@MikeRosehart 6 лет назад

zalene mail I wouldn’t want to do it in Vancouver anyway. Real estate prices make no sense.

@zalenemail 6 лет назад

Mike Rosehart can we do joint venture in your area ?

@jingwenwu9412 6 лет назад

Where did you find those properties?

@MikeRosehart 6 лет назад

Jessica Wu you can find them in many markets. In London, Ontario it’s still possible to find 1% rule properties. In almost any market you can find properties under market value that need rehabilitation. Most of them don’t exist on MLS, or not for long.

@jingwenwu9412 6 лет назад

If they are not on MLS, where do you find them? For sell by owner, door knocking?

@gojooyoung 2 года назад

Yes I'm curious too

@priceandpride 5 лет назад

I want to know about how you learned everything you know

@MikeRosehart 5 лет назад

priceandpride trail & error, research mostly, and discussions with people I’ve met along the way.

@BrawlerTM 3 года назад

Why do you say you'll need a job? I just moved to Spain with 150k saved up and looking to start this process. Is getting a 9to5 really necessary to start?

@MikeRosehart 3 года назад

Jonny Riga to qualify for mortgages

@BrawlerTM 3 года назад

@@MikeRosehart understood. Thanks 👍 any way to get around that? Perhaps involving a parent or relative?

@HalfReaper 4 года назад

how well does this model work in montreal?

@MikeRosehart 4 года назад

HalfReaper works anywhere

@MikeRosehart 4 года назад

HalfReaper maybe harder to find properties that need renovations but they are in every market.

@mitchdaniel5605 6 лет назад

Michael, when you say each property cash flows about $900-$1000 per month, how much more is the actual rent of the properties to cover the mortgage and Capex?

@Redbull357 5 лет назад

good info but jeez do you fillibuster alot. In between points you go off so much.

@MikeRosehart 5 лет назад

Redbull357 haha ya I’m a bad filibuster :P

@Redbull357 5 лет назад

@@MikeRosehart it was a constructive critique. I really enjoyed the video and watched until the end. Thanks for making these.

@zhuoxinyu049 5 лет назад

it's better to explain with a chart. hard to track all the numbers.

@MikeRosehart 5 лет назад

Definitely didn’t have that skill back then but we do now. I did a part 2 of this video in front of a whiteboard actually already you can watch.

@zhuoxinyu049 5 лет назад

Mike Rosehart appreciate the response and yes I watched a bit of the other Video. Appreciate the intention and brilliant ideas behind the video but would be nice if you had started the board blank from the beginning of the video and draw it alone with the explanation. Would be easier to follow the train of the thoughts. I know it’s just and estimate but was looking for the rent amount and you logic behind the numbers. I’m actually saving up to buy my second investments and looking for ideas to build a better life and early retirements. Looking forward to more of your videos!

@MikeRosehart 5 лет назад

Love you so Mannie amazing!

@MikeRosehart 5 лет назад

Love you so Mannie I plan to redo the video :)

@mrbeefy971 5 лет назад

#freedaywithmike

@rodrigorodriguez2299 3 года назад

Wow your credit score is 852, very fascinating considering that it only goes to 850

@MikeRosehart 3 года назад

The credit score is 300-900 in Canada...

@leslienull3689 4 года назад

step 1... get a job that pays 50k... me: *has bachelors degree in business*.....welp def. got the wrong degree now didn't I...

@MikeRosehart 4 года назад

Leslie Null :3 - two full time jobs at minimum wage = 50k/year here in Ontario. Work a 7-2:30, and 3-11 shifts 5 days a week. Rest for 2 days a week or pickup third job lol.

@leslienull3689 4 года назад

@@MikeRosehart ......i hate my life lol

@shovelheadseven 4 года назад

@@MikeRosehart So how do you pay your current bills if you work 2 full time jobs saving every penny? Im in Southern California. Los Angeles. I have over $50k saved and cant find any local properties that are affordable. Your strategy doesnt work in this market.

@grou12343 6 лет назад

I think you should make shorter videos Mike, makes it easier to grasp the ton of knowledge youre trying to teach

@MikeRosehart 6 лет назад

Thanks Grou for the feedback and for watching. I will work on creating a few shorter videos to articulate the main concepts. Is there a target length of video and specific topics you'd like to see me cover?

@grou12343 6 лет назад

I think less than 15 min is a good target range, ideally 10 min. Otherwise it'll be hard to keep the interest of most people. As for the topics, knowing if a property is over valued or not (or if the renovations are going. To be too pricey) is a big issue for me since I'm not working in the construction