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HOW MUCH I MAKE ON A $23,000 PROPERTY 😱 - Buying Cheap Properties

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In this episode, I talk about how much I make on a $23,000 property I bought out of state during quarantine! I break down the purchase price, renovation costs, income, and expenses. Enjoy!
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While all attempts are made to present correct information, it may not be appropriate for your specific circumstances and information may become outdated. Sharon Tseung is not a financial advisor and does not provide tax, legal or accounting advice. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial advice. Please consult with a certified professional before making any financial decisions.
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Опубликовано:

18 авг 2024

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Комментарии : 119

@SharonTseung 3 года назад

✅ Check out our out-of-state real estate investing course Remote Rental Riches - courses.digitalnomadquest.com/p/remote-rental-riches which teaches you step-by-step how to acquire your first rental property!

@GrowWithWill 3 года назад

Tenants for twenty years! That’s craaazy. That’s also such a cheap property. Crazy. Great job renovating.

@SharonTseung 3 года назад

Right?? Thanks so much!

@coachjosephgonzales 3 года назад

@@SharonTseung what location was this?

@seanlovesrealestate 3 года назад

Awesome transformation!

@SharonTseung 3 года назад

❤️❤️

@hoamorales-phan1688 3 года назад

I'm actually traveling to Houston to look at some property, buying all-cash because I'm doing a 1031. First time investing in rental properties so super nervous. I'm not gutsy enough to do a rehab, looking for turn-key. Love your insight and tips. Keep the videos coming.

@SharonTseung 3 года назад

That’s exciting! Turnkey is good too 🙌 good luck!

@hoamorales-phan1688 3 года назад

@@SharonTseung thank you, keep the videos coming. Very good tips for this noobie.

@Jaymake 3 года назад

You made it sound simple. It’s good to have experience on top of the knowledge. I appreciate hearing your experience explained so well. Your vids are great! I’m still learning & in college. 1 semester left. I’ll work my way into real estate soon after I finish

@SharonTseung 3 года назад

You got this! Thanks for watching!

@SharonTseung 3 года назад

WATCH NEXT: How Much I Make on my 4-plex ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-hSApgJzFzGI.html

@BudgetGirl 3 года назад

fantastic deal! i hope to be able to cash flow properties one day!

@SharonTseung 3 года назад

❤️ You got this! Your duplex is already awesome!

@handleking1 3 года назад

In the future please leave the numbers up. Do it Graham Stephen style. We don't all have photographic memory so it would be great if you left the numbers up for most of the duration of the video.

@Gavatron5000 Год назад

Well done and thanks for the video! 🙂👍

@shivam_bhalla 3 года назад

Any recommendations on how to find a good team? Agent, property manager, contractor remotely?

@sammydabull1115 3 года назад

Awesome info Sharon!!! I found you on TikTok and love your content. You are helping so many like myself get closer to making decisions. We have not purchase any properties yet because we are stationed in South Korea but once we get back to the states we will make our very 1st purchase and it will be a 4 multi family.

@dragonsnipero509 2 года назад

Thanks for the video, new subscribers here from thailand

@mr.noway77 Год назад

Do you need any kind of License or anything as you're just buying it for yourself , and doing whatever you want with it ( RENTING etc.) 2nd question: Do you need any kind of paperwork or anything dealing with tenants ?

@twisted_5_oh710 2 года назад

Very good video about to buy my first 2 next year! Can’t wait to start my journey!

@SharonTseung 2 года назад

Amazing congrats!!

@senifurrr8627 4 месяца назад

thank you for your content

@TooManyPBJs 2 года назад

Sharon, can you talk a little bit more about how you write things off in your taxes? Thinking of getting my first 4plex in the Columbus area.

@amanagarwal9746 3 года назад

In India the rental yields are around 4% . You got a brilliant deal.

@joramsvlog9907 2 года назад

Wow thats a good price for rental property.I hope I can find that kind of property.I’m really interested to invest in Real Estate Thanks for the information.

@whatsap9218 2 года назад

☝️☝️☝️ Write me

@jeremymcneill8882 3 года назад

I love your content Sharon keep it up! - RU-vidr and Realtor

@leslieperez279 3 года назад

This is awesome. Thank you for the information. It is very very helpful for someone looking to do the same thing

@SharonTseung 3 года назад

I’m happy to hear that!!

@soulkens 3 года назад

Cali is bailing to TX and NY is bailing to FL so I’m doing the same here.

@SharonTseung 3 года назад

Awesome! Very true

@CallmeBatty3 2 года назад

Great breakdown of everything

@AskArianne 3 года назад

This is awesome! Great breakdown. and Congrats!

@vunguyen6971 2 года назад

Thank you so much for the video!

@PfizerInc1 2 года назад

Absolutely amazing.

@Imhere12345 2 года назад

Great breakdown.

@GreggoryThorpe 3 года назад

Can't wait for more content!

@ACTHEMOGUL 3 года назад

Thanks for sharing this video

@UTECHPIA 3 года назад

Well done! That's a smoking deal! 👍

@SharonTseung 3 года назад

Yay thanks so much!

@gabrielkaras1858 2 года назад

Dang that before and after was immaculate. I want that contractor in my house!

@dalesheltonjr7303 3 года назад

Great job! I'm curious, how did you go about finding the company to do your rehab?

@davidgodoy4685 2 года назад

I’m assuming a general contractor company probably

@ryantheentrepreneur4040 3 года назад

Nice work!

@SharonTseung 3 года назад

Thank you!

@surelyshirley7282 3 года назад

Thanks for sharing. Did you go in person to look at the property at all? Or was everything virtual?

@juanzavala9023 3 года назад

damn i just refreshed the youtube page! First.

@SharonTseung 3 года назад

Lol amazing!!

@davidgodoy4685 2 года назад

The only thing i’m personally avoidant of is property management because you could just do 1 year leases and i don’t think it necessarily needs to be managed unless you have too many properties to handle any complaints that the tenants may have. You’d pocket a little more money that way Otherwise sounds great and still something to consider

@SAnderson54 2 года назад

Sooooooooooo are you gonna give us the plug on the property management company or did I miss it!?!?!

@JayB4422 2 года назад

Biggerpocket. She said it at the beginning

@yannip2083 2 года назад

In which state is this property located?

@David-rq5pm Год назад

Sharon, thanks a lot for the insights. I am wondering whether you have seen the property before purchase? Or is it that far away that everything was handled via the agent and based on trust? Would you recommend non-resident such "cheap" property in order to have another source for income?

@redbrave 3 года назад

Amazing all cash deal. No hard money rates for the rehab! Will you get the house appraised to evaluate equity?

@SharonTseung 3 года назад

I’m in no rush! Probably going to hold onto this one for a while. But I saw a home on the same street listed recently for about 100k so I was happy lol

@christoefur8891 3 года назад

Thanks for sharing! Curious do you plan on refinancing some of your money out to use for another one?

@SharonTseung 3 года назад

I might do it on my first home and use that to pay down my other investments actually cause I wanna have less loans (so I can get more investments). Not totally sure yet though

@TheBemused 3 года назад

Good stuff!! -Akeiva

@joshuaruvalcaba9199 3 года назад

Im 17 and I love your videos

@SharonTseung 3 года назад

Thank you!!

@bmorgan5852 3 года назад

They did a beautiful job on that 🏠💜💜💜

@beckhamsturgill4734 2 года назад

You MUST say the city name in the video!!!

@chrissprague4025 2 года назад

How old was this property? In my market all the properties were built in the late 1800s and early 1900s. How do you feel about old properties?

@homerunkevin 3 года назад

wow this is a nice deal! Where is this property located at? Thanks for sharing!!

@anhrestuarant 3 года назад

Thanks for watching and commenting don’t forget to hit…. the subscribe button more info… consultation …….and advise…… text. Plus One Three One Three Three Zero Seven Three Nine Eight Four

@afung89 3 года назад

Nice rehab, could do without the popcorn texture, pain in the butt to clean :( Property Management was really amazing for finding a tenant getting 900$ a month. Totally give some extra for them, IMO!

@Marlenechm 2 года назад

Where did you find such a good deal??

@bmercer910 Год назад

Do you recommend home warranty companies

@RossMiyasatoJr 3 года назад

You can’t even buy a parking space for that price in Hawaii. Message me if you ever want to get into Hawaii Real Estate.

@milodelgado5882 3 года назад

i have 50k+ to invest but it’s been hard finding a deal

@islandrev2085 3 года назад

Why not invest half of it in Forex and increase profits on the 50k+?

@valueking2283 2 года назад

Any luck finding something?

@cutthecorner7007 3 года назад

Not a bad deal for a 10% Cap Rate/Cash on Cash Return.

@greenlawn8708 2 года назад

How did you find property management?

@etc6454 2 года назад

where are you getting this kind of deals and what state?

@Kaykay-p Год назад

In what did she buy the property???

@dubsacktrax9532 6 месяцев назад

How much of the 33k could you write off for taxes?

@umitub3 3 года назад

Which city is this in Texas?

@mevanscodes 3 года назад

Chillll that’s fire

@SharonTseung 3 года назад

Ayeeee!

@chalermkwanpongkietisak7951 3 года назад

Hi! I live in CA too and thinking out investing in RE in Texas as well. Do you have any suggestions for my situation? I currently rent an apartment. SHould I first buy my own home before I start RE investing? or go ahead and do OOS investing? I can't move to cheaper state yet due to jobs :( and housing here is expensive. I'm afraid if I buy my own house now I wont have much money left to invest :((((

@gary14d 2 года назад

That depends on how much rent you pay vs money you will make on investment property vs if you buy a home-what percentage of mortgage interest you will be paying. Also, keep in mind : Interest on Mortgage Payment Paid is tax detuctable- So if you pay a lot on the income tax for having higher income- you can expect some tax savings by making mortgage payments. You need an excel workbook with what-if analysis :)

@martinramirezmi5457 Год назад

So it will take you over 7 years just to break even?

@jasonreyes7827 3 года назад

Nice! Any way you can hook it up with that property management company?

@SharonTseung 3 года назад

I’ve been creating a course with my bf and I may provide our diff contacts there, we shall see!

@Chopper8472 3 года назад

Is there a insurance which will cover my rent payment in the case if the tenants decide not to pay their rent?

@anhrestuarant 3 года назад

@dma8728 2 года назад

where is this property?

@AmiyrJ 3 года назад

How much capital did you have to work with for this project?

@anhrestuarant 3 года назад

@bruhralle8884 3 года назад

you know its good when there is no dislikes

@anhrestuarant 3 года назад

@Phakaday 3 года назад

25k house?? Is this downtown Detroit? Run down homes in WA going to cost 150k min. Congrats to you

@SharonTseung 3 года назад

Texas!

@madnessofmymind 3 года назад

hey now....detroit isn't THAT bad....LOL....jk. it is. thankfully living outside of the metro area.

@Phakaday 3 года назад

@@madnessofmymind I grew up in Michigan and remember seeing the cheap houses near Detroit and Pontiac areas. I have family that still lives there, but not in those cities. Lol

@muhammadjawadurrahim4883 3 года назад

@@SharonTseung where in texas?

@divad44 3 года назад

thats ok rundown here in Cali got for 600k

@TXROOTSALEX 3 года назад

Wish you said who the management company was

@PORTMIAMIMIKE 3 года назад

Got to be able to sell the sub something🤷🏾‍♂️

@GOZILLA_VR 3 года назад

One thing that all these types of videos fail to mention is federal tax. How much income tax will you end up owing on this investment?

@anhrestuarant 3 года назад

@AntonWongVideo 3 года назад

that's crazy, $23k? was this in a city metro area?

@anhrestuarant 3 года назад

@christiannunez7519 3 года назад

What property management company do you use?

@SharonTseung 3 года назад

I’ve been creating a course with my bf and I may provide our diff contacts there, we shall see!

@jrami223 3 года назад

We’re u get $23k property

@confettiRedPill 2 года назад

I need to invest 50,000 then make 100,000 by next Tuesday.

@KA-rt2vh 3 года назад

Is that in Ohio?

@anhrestuarant 3 года назад

@Keithprestige 2 года назад

You're so rich and I'm being for real

@nicolereadsbooks9579 2 года назад

So confused where you're finding houses for so little!

@SharonTseung 2 года назад

Look out of state! There are many markets 😄

@Youtube_ban_me 3 года назад

lowkey crypto is a better investment if you understand the software. Its easier to get into and the roi is just way crazier. I like that people dont understand crypto yet.

@SharonTseung 3 года назад

I have crypto as well. But I feel it is a higher risk higher reward type of play