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HOW MUCH I MAKE ON MY FOURPLEX 🏡 ($175,000 Purchase Price)

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Here I break down the numbers on how much I make on my fourplex! Let me know what you think about this deal. I plan to do more videos on the process of getting these properties.
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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to present correct information, it may not be appropriate for your specific circumstances and information may become outdated.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.

Опубликовано:

29 июл 2020

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Комментарии : 379

@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!

@ricaudpierre3944 2 года назад

I don't think this was a good deal because #1 you could've gotten the property at 3.5% down payment instead of 25% #2 you could've increased the rents. #3 you didn't have to hire a property manager for just a 1-4 unit... you could've done it yourself and save money 💰

@dandanwang5043 2 года назад

@@ricaudpierre3944 It's out state investment, so to my understanding #1 and #3 don't apply here.

@benjaminkell3726 2 года назад

@@ricaudpierre3944 3.5% is only an option if you live in one unit

@benjaminkell3726 2 года назад

Can you say where in tx this was and the property manager? Or suggest another area

@nikkinoos82 3 года назад

The fourplexes in my area are 600k + you got a krazie deal!!!🤯🤯🤯

@Modified_Gentlemen 3 года назад

your rent will probably be $1,500-$2,000 per month if it's that much.

@nikkinoos82 3 года назад

@@Modified_Gentlemen whoa, right on the money! Rents between 1500-1600 a month!!!🤯😃

@artemis9306 2 года назад

@@nikkinoos82 hey! Actually am not from us so i don't have much knowledge about taxes am planning to buy multifamily property in Us maybe in a year or two. basically a 17 unit apartment and its has a potential of $163200/year 13600/month. So how much tax will i be paying what are the tax bracket?

@SKILLAARENA 2 года назад

@@artemis9306 $0 cash flow from real estate is tax free.

@jamesgellert1263 2 года назад

In my area, 1.5 million CND, welcome to Vancouver.

@relaxn3111 2 года назад

Nice video. Short and to the point. No fluff like everyone likes to do now a days. 👌🏼

@SharonTseung 2 года назад

Thank you! 😄🙌

@MaziSaidSo 2 года назад

Exactly man

@sofi4148 2 года назад

It's a must to raise the rent even by just $20. This adds value to the property and in ten years it will be worth more and you can sell higher.

@jcbigbro 3 года назад

I bought a 4plex in Phoenix for the same price as you fha (3.5%dp) and my cash flow after mortgage and insurance and taxes is $2200

@gugsfilli1764 3 года назад

Wait your down payment was only 3.5%? Did you hire a property manager?

@navainvesting4082 3 года назад

How did you do that ? I’m currently looking into one

@brolythelegendaryssj1041 2 года назад

Dude three plexes in my country are around 500K

@ricaudpierre3944 2 года назад

@@gugsfilli1764 3.5% is for first time home buyers...1-4 family us considering residential property.

@twincherry4958 2 года назад

Where in Phoenix?1

@kevinkoffman2692 4 года назад

I just put an offer on a duplex today. Thanks for your great videos! Very encouraging to see your numbers and know it can be done! (I’m here from TikTok too, love those videos).

@SharonTseung 4 года назад

Thanks so much Kevin! :D Congrats!!

@sleezy3805 Год назад

Hey, did you get that duplex? And how business going?

@HB-ow9wy 4 года назад

I got one last year and am house hacking it also which allows you to only put 3% down bc you’re living in it. Renting the other 3 units out and living for free. Paid 115k and each unit collects $400 but then again this is in indiana. No manager fees at this moment. Repairs for now are at 4k but may have to replace the roof in 5 years but it’ll still make me income and the mortgage is being paid for.

@SharonTseung 4 года назад

That is awesome congrats!!

@madnessofmymind 3 года назад

Consider roofing that has a longer lifetime. I believe I saw something out there that has a 50 year warranty or something like that. It is ALWAYS better to pay a little more for quality that will last longer and save you money in the long term.

@counterproof 3 года назад

I purchased a 4plex as my first home for a 3.5% down payment. An option for any investors who plan to live in one of the units for a year or so. Otherwise, you have to get a conventional loan with a 10% down payment. You have to come up with a 20% + downpayment for a commercial loan at 5+ units.

@russellbecker671 2 года назад

you dont actually need to come up with 10 or 20% just do PMI its 70 per 100k borrowed...not a huge deal

@momo03ize 2 года назад

@@russellbecker671 what is a PMI?

@kiodour 2 года назад

@@momo03ize Private mortgage insurance (PMI)

@SharonTseung 4 года назад

WATCH NEXT: Why you should INVEST OUT-OF-STATE! ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-YYymHRzc5y4.html

@counterproof 3 года назад

What is the name of the property management company you use for your property?

@raymondgranvold7702 2 года назад

You forgot property taxes and income tax. By the time you add those on, your profit is getting pretty slim. For apartment and single home investments you need to be aware of homeowner association dues. Making a real profit is harder than you think…. 😮

@samatar1025 23 часа назад

She included it with the mortgage

@fossil_blue_zx2 Год назад

Seeing as how the market has boomed I bet you love doing the math on things now. My next goal is a multi family

@SGVFOOTBALL 3 года назад

Great job! I just bought a duplex and it closed at $530k in California. Fully rented I can gross 1K a month.

@marriejames01 3 года назад

Will you tenants be dodging bullets? That’s VERY “cheap.”

@KB-Unc Год назад

@marriejames01 they gotta mean profit $1K a month

@erikT131 4 года назад

It's nice to see a proper breakdown.

@SharonTseung 4 года назад

Erik Tangvik glad you like it!

@jakeschmitt3917 2 года назад

Hi Sharon, what a great video! I wanted to know, how much do you get out of the property management company that you use for $209.50/month? How many hours do they roughly spend managing your property and what kinds of things do they help with when it comes to dealing with tenants/maintenance requests/resident relations etc.? Thanks again!

@tyresebrinson8584 2 года назад

This is a great break down. This will be my next move. I’m going thru NACA because i don’t have a large upfront down payment. This price point is unheard of. I wish I could get a deal like this in the DMV. I would live in one of the units.

@ayannawarren3071 Год назад

You can find some out bmore. I’m looking now.

@algernonbrown7637 3 года назад

That is awesome, you ae not only paying down your debt from the renters you are seeing positive cash flow!! amazing

@azhomegenius 2 года назад

Great video. I always enjoy real-life scenarios. It helps paint the picture. Thanks for sharing!

@nina06843 3 года назад

Do you buy real estate in your own personal name or do you use a llc or land trust? What do you do for asset protection?

@aftech7268 2 года назад

a fourplex for 170,000 its unheard of - been searching everywhere - We inly have single family need to upgrade to multi units Same here we never raised any of our charges for rent

@briagarri275 2 года назад

Nice video. Too the point. I wish more people made videos that didn't waste my time. Informative, Thank you

@SharonTseung 2 года назад

Thank you!

@lydiagreat 3 года назад

im definitely getting one of these during 2021 ✅

@SydneyScream 3 года назад

smart

@Austin_SOLDanoRealEstate 3 года назад

26 here, taking my Real Estate license soon, and plan on buying a plex for my first home purchase to start the whole process! Here in Northern California!

@HM-sn8xy 3 года назад

Great price in Northern Ca...use an FHA loan for a lower down payment of $5,000!

@romegq 2 года назад

Wow. Thanks for your breakdown video! Just curious if you got your financing under your name or did you form an LLC and do the financing through your llc ?

@jasongordon3797 2 года назад

Can you do a tax video. Strategic tips, llc vs s corps, and how you guys set up your structure to keep taxes from eating away at your profits? Great info and vids I’m a happy subscriber!

@jgoincomedy5837 2 года назад

thank you for the transparency and simplicity of this video. subscribed!

@denisedoherty4909 Год назад

Great job! Just subscribed. No fluff. Right to the point with extremely valuable information.

@Youngprincess05 2 года назад

I really love how detailed the video was. Everything was clear.

@MB-ju4wd 3 года назад

That’s actually a sick price for a fourplex!!!!!!!!

@SharonTseung 3 года назад

Thanks! 😄

@wellcapital8342 2 года назад

Thanks for breaking that down! Passive income is everything!

@burgbored102 4 года назад

Here from TikTok! High Quality video! Bigs things coming your way for sure!

@SharonTseung 4 года назад

Thank you!

@donivanfait67 Год назад

I am in Phoenix Arizona and looking to buy a complex with 10 units and I’m looking at 1,000,000 1/2 each unit I can rent out for 13 to 1400 a month. My payments per month would run around $8000. I think…. I’m like f$&@ it, let’s go!! One life, one chance

@justinsmudde2554 2 года назад

Nice little Rookie deal. Congrats. If you wouldn’t have used a realtor you would have had a way better deal and more equity to refinance sooner. Do some updates then raise the rents and refi after 18 mo. You do need better Fianncing and to eliminate the realtors! Your paying too much for all of that😉💯. Welcome to the real estate game! Good job! If you need a coach, shoot em a message.

@lexybeck7 Год назад

You broke this down very well. Thanks!

@vgman94 3 года назад

Might go into this or self storage as a business. Both have their advantages, but my mother went into rental property which came in handy during difficult times. I feel more accustomed to long term rentals as a result vs self storage which is not very personal, nor Airbnb properties which are more hands-on. Still mulling over things, but this was good info. Need to broaden my knowledge of out of state markets. Don’t know where to start research though.

@davehughesfarm7983 Год назад

My air bnb pays for utilities on 3 properties...And we like to stay there when its not rented.

@vgman94 Год назад

@@davehughesfarm7983 How is the upkeep? Does it take a lot of time and work to run? Is the money returned worth it over just renting it out?

@jackbrown8266 3 года назад

It’s really cool you’re helping people out during these times, U should definitely up in in the near future when and if the market goes up. Also that’s not bad 700 bucks profit a month, that can go to food and ect ... plus if your working ur bringing home some bacon 🥓 lol the only thing that I’m worried about is the privacy level , can they hear your conversations and stuff like that since it’s one jointed house ? Lol I’m just worried about privacy and stuff like that ... ?

@SharonTseung 3 года назад

Yea it’s been great! Thank you! Hmm when I visited I didn’t hear anything. haven’t gotten complaints so I think it’s ok!

@jackbrown8266 3 года назад

@@SharonTseung do u live at this unit or do u have other unit’s Sharon ?

@madnessofmymind 3 года назад

@@jackbrown8266 it's fairly clear that she does not live there. I've seen 3 videos and have already worked out that she is in Cali and bought 2 props in Texas. Now there are other people out there that buy these multi family units and do live in one unit. It's not much different than living in apartments really.

@KimBun 3 года назад

great breakdown and very informative. My goal is to buy a duplex in the next year or two :D

@SharonTseung 3 года назад

Thank you! You can do it!

@LouieG121 3 года назад

Why can’t you do it now??

@ozanumutsimsek Год назад

Thanks for the video Sharon.

@THEDRAYNIC 3 года назад

Super helpful, Sharon!

@SharonTseung 3 года назад

Glad it helped!

@jorgeasihasjr6704 3 года назад

I'm currently looking at a 4 plex myself, but it just feels too good to be true.

@Openminded4life 3 года назад

there's a reason why it sounds to good. You must look at risk. it's possibly a really cheap area where hardly no jobs and no one wants to live in.

@jorgeasihasjr6704 3 года назад

@@Openminded4life my thoughts are that it needs way too much for a rehab... as it is they want 270k for them. I'm thinking rents can be pushed to around 550 or 600

@Openminded4life 3 года назад

@@jorgeasihasjr6704 makes sense. Its all about numbers and trying to make a decent profit. Im in CA and when I'm ready to buy an investment, I'll definitely hire someone experienced to guide me and definitely outside of CA.

@Sergiop1736 3 года назад

How rare is it to find a 4 plex since it is something people actively look for, especially in the Los Angeles area

@SharonTseung 3 года назад

It kind of depends on your market - I feel like they're more rare where I'm from (the Bay Area) - and if there are any they're extremely high priced. It might be the same in LA - not sure, haven't studied the market. You can check on the MLS for multifamily properties and see!

@redarbz6545 3 года назад

Just build it, it's easier

@mekon1971 3 года назад

@@redarbz6545 LOL much more expensive right now!

@jacosta0419 6 месяцев назад

Where in texas do you own and rent ?? The property it's a good deal, again depending on where it is. Has to be outside big cities where rent depending on the area of the city limits and counties run above 1300.00 a month easily

@deandre22 4 года назад

I’m currently looking for a deal like this in the DFW area.

@SharonTseung 4 года назад

Awesome! Good luck!

@momoneyhabits 3 года назад

@deandre did you ever find anything?

@deandre22 3 года назад

@@momoneyhabits Nope! Prices are too high right now.

@momoneyhabits 3 года назад

@@deandre22 that's my same problem. I have a friend that's a realtor in DFW and he flat out told me that if I wanted to get into the market without having a bunch of cash then I needed to buy a new property, do some upgrades and just be patient. I have my fingers crossed that my job will soon be moving me to ATL where the market is a lot more reasonable.

@sublimestudi000 2 года назад

Did you know how much current tenants were paying before purchasing? When/ how did you ask about this?

@YoYo0204 2 года назад

She stated she didn't raise the rent, so assuming the rent is still the same

@eldermillennial2000 3 года назад

4:37 It is legal for an apartment owner to raise the rents on any, all or none of his rent-controlled apartments in Los Angeles. He is limited to set rent increases for existing renters under the Los Angeles rent control law. It is discriminatory, but it is not illegal discrimination, for an apartment owner to raise the rent on one tenant and not on another.

@twincherry4958 2 года назад

It's a new tenant so she charged them market rate.

@adminmobile6975 2 года назад

Congrats pretty!

@TheZeedler 3 года назад

Excellent! I'm really curious which state you purchased in. Please lwt us know! I'd also love to know the age of rhe property. I'm in the market myself - first time buyer using FHA. I'll live in 1 unit but I work from home and I can do this anywhere. Any tips on location would be sooo super helpful! Great video! Subscribed.

@Mssummer362008 2 года назад

in video i think she said texas

@mahadyusuf217 4 года назад

where do you find contractors that do your repair/renovation ?

@henpen8016 3 года назад

The Property Manager generally will have a list of 'go to' contacts

@RAMYTA 3 года назад

Thank you for sharing and good luck!

@SharonTseung 3 года назад

Thank you!

@blamegame10 2 года назад

currently trying to close a triplex for 187k with a cash flow of 900 in (best case scenario)

@milapolecom 2 года назад

Awesome breakdown in numbers. Thanks for sharing.

@Ericaether19 4 года назад

Loved this video!!! Could you make the tenants pay for their own water and trash fee & increase your cash flow that way?

@SharonTseung 4 года назад

Thanks! It's a bit hard because it's master metered so there's no way to separate them all but yea I definitely could charge a standard fee if I wanted to!

@HM-sn8xy 3 года назад

You could meter the units individually which would save money in the future.

@roberttanko8250 Год назад

Great job. I like turnkey passive income from multi family

@briankuester1308 Год назад

Ms. Sharon I’ve been looking for the better part of 6 months for a 4plex that I can house hack you know live in one unit and rent out the other 3 where should I be looking to invest? For example Memphis tn seems like an up and coming area but I’m not sure where to invest!

@MonteMitchell 3 года назад

Nicely done! I love those numbers.

@davehughesfarm7983 Год назад

Smart financials... I have a Air bnb that pays for the utilities and basic maintence of 3 properties..

@ok1nawab0y 4 года назад

Super amped to get into my own multiplex one day!

@SharonTseung 4 года назад

Awesome!!

@jackbrown8266 3 года назад

Right I feel the same way I’m hyped UP !🙏🙏🙏

@diamondnewson9049 2 года назад

Wow to hear these rent prices are so surprising to me because I pay $1400 for rent for my 2 bedroom in Georgia. And thats not even in the city of Atlanta. All the surrounding cities charge around $1300-$1500 for a two bedroom.

@coldsummersky69 2 года назад

Which sites do you use to find good fourplex deals across the country?

@alexomid1565 4 года назад

Loved the breakdown, great video! Aren’t you worried about large repairs in and old building like roofing?

@madnessofmymind 3 года назад

Why worry? That's just a natural part of owning things and you should be going into it prepared for that kind of stuff to happen.

@davehughesfarm7983 Год назад

I love it....That property is probably worth 500,000 in summer of 23'

@kulaice 9 месяцев назад

Hi, Sharon. I was just referred to your channel and think it's definitely worth a sub =) Would you say you are still happy with owning this fourplex years later? Is it within a B or C class neighborhood? I'm interested investing in a fourplex as my first rental property. The fact that you were able to find a great PM really must've helped with pulling the trigger. Still a newbie on due diligence myself so looking forward to exploring your channel for more REI tips!

@SharonTseung 9 месяцев назад

Thank you! Yes it’s been great. It has appreciated over $100k in value and it cash flows well. Would say it’s in a C neighborhood!

@allisonspradley7857 3 года назад

Thank you so much! Very informative!

@Daniel-xb4yb 8 месяцев назад

Rent for 2 bedroom is $2200 here in los Angeles apartment

@4Realkevv Год назад

I would put tile lol no carpet for the long run

@emmanuelpineda5435 2 года назад

Great job!

@animefun12 2 года назад

Can you buy a 4-plex with a fha or would that be a commercial loan

@nursereesey2495 2 года назад

Great video!! Good video

@jmaiatrader2925 2 года назад

That sounds good (BUT), your cash on cash ROI is only 1% which is really not good.

@Me-mg1sh 2 года назад

First time viewer, old time property wholesaler:); your numbers are great, not particularly a fan of managers, but that's a good rate and in my opinion. I like your numbers as well as the presentation. I've always been shy about distance and my real estate; BUT HEY.... great job👌!

@SharonTseung 2 года назад

Appreciate you!! :)

@dandcp 3 года назад

Hey Sharon, Thanks for all the great info! We just found you recently and have really connected as we are investing OOS and also looking for other side hustles to get that passive income coming in each month. Great job and your videos are getting so much better!

@azhardav 2 года назад

usually rental properties OUT OF STATE will be a major headache= especially on the low end of values. If your not there locally you are at the mercy of corrupt maintenance and property management. What you going to do when you live over 1000 miles away and manager says leaky toilet caused $2,000 in damage when you can fix it for $200 yourself or hire someone reasonable? fly on over to check it out?

@ajco314 4 года назад

Great deal Sharon! ;)

@SharonTseung 4 года назад

Thank you! :D

@charlesnjaka6495 2 года назад

How did you find this unit?

@TheOfficialAndyLam 4 года назад

Great explanation!

@SharonTseung 4 года назад

Thank you! :D

@juanvillalobos5932 2 года назад

Hey there, how much do you think it would cost to build a four plex? Thanks for the video!

@ericc.5460 2 года назад

Hey Sharon, will your course show how to buy 2 to 4 units? I only want to focus on those type of rental properties.

@ChristheFreelancer 4 года назад

Cash flow positive! That’s awesome Sharon. I wonder if there are opportunities like this in Australia 🤔

@SharonTseung 4 года назад

Thanks!! Should look into it!

@shemarcollier3457 3 года назад

I’m happy for you that’s so cool good job

@josezapata9675 2 года назад

Absolute great deal!

@WTABallers 3 года назад

Found your channel from TT. Love s as lol your videos - I’m shocked the views aren’t up in 100ks as your videos are much better information than many others who have all these views/subs. People just need to like your vids so RU-vid algorithms will promote it. I’ve been watching financial videos on youtube and never once saw any of these. Only found via tik tok. One question wouldnt real estate attorney fees be an expense ie the rental agreements and legal defense from tenants. Having a 4plex with people living that close to each other may be risky? As owner you have to step in with neighbor disputes? Love your spreadsheet though. Seems as if risk is that it’s hard to unload (sell) a property like that in low income area?

@eugenespeed3573 2 года назад

Good deal for shore!

@dyamigadiel5649 2 года назад

Hi sharon van you please show us how you ran the numbers on this deal?

@ericc.5460 2 года назад

Love the deal by the way.

@MissJK_ Год назад

We’re you not required to live in this property? If no, could you explain why?

@marlonbrimmer 3 года назад

You dont have to put 25% down on multi family homes. Theres ton of fha programs you could use to get into those properties for 3%. You have to live in the property for a year though. That deal was spectacular