Chandler, I turned a flip into a duplex saved all cash flow and , put into a 4-plex. My wife and I are looking to buy our first apartment complex this year. I can’t thank you enough for sharing your knowledge for free!!! My parents didn’t have any college degrees or own businesses. I did this myself- thanks to guys like yourself who educate us lil fish for FREE!!! 💜💪💯
Maybe we’re crazy but after getting eight offers on our home, we refused to sell to the arrogant cash offer highest bidder and sold to the young couple who wanted a safe place to raise their family.
I need some guidance please. Lately I've been considering buying dividends stocks for retirement, I have set asides $400k but somewhere along the line, I get cold feet maybe because I'm a rookie and have no idea what I'm doing.
@@tylerroger1636 😍😍😍Rosemary Carlson is there to guiding you through. She was the reason why I got into TESLA digital currencies. She’s quite popular on line, just look her up 🆙
@@leemarty2765 I'm grateful to my broker Jennifer Elizabeth Boland, she was the best and still the best brokerage in Florida. I had less to worry about. Just look up the name you will find her info.
This was a great introduction to buying apartments. Being prepared to talk to these commercial lenders about deals before going in has been huge for me in my career and I wish someone had told me when I was starting out. Thanks for the video!
I subscribed. I’m a military officer, own two homes, was planning on buying 1-2 more before retiring for cash flow. One bought $175k is worth $350k now (Atl), new construction in Fl. already appraised at $265k at closing (bought for $248). I think I’ll sell them for down payment on a residential building. Was looking at quads but I think 24 units is better…and then make an LLC, and keep buying buildings. I think once u have one, you can keep justifying loans off income flow.
@@jamonhughes8455 I’m a Major. I don’t have any vices (smoking, gambling, drinking) or pets. I also bought inexpensive single level new construction homes. I saved up my 12-month Afghanistan deployment earnings, used it on first house. A lot of military dabble in real-estate and often use VA loan to do so.
@@jamonhughes8455 I recommend fee simple new construction single family 3/2 single level homes as cheap as possible. You can do FHA loans, in some states apply for homestead exemption for property tax. The 1% rule is ideally your prop rents for 1% of mortgage. So avoid HOA when able.
Idk if you have patients like I do Sir but I'm SSG in the Army Reserves (with 8 yrs of AD + 6 Reserves) here is how I got my 8 unit apartment building. My civilian job is IT for DOJ/BOP and wife surgical tech. We lived on just $29k of our salary for 8 yrs. We bought extremely cheap houses to point we had a passive income of 17k a month. The family cash flow + passive was enough to negotiated with bank for an 8 unit building. This took us 8 yrs to get to this point.
As a maintenance guy, I wanna buy a complex cause I’ll be able to do all the work myself and save on the maintenance so I feel it would be very profitable for me
hey chandler I’m 21 years of age and I’m looking forward to buying my first duplex very soon in the next 6 months or so I love all the videos you put out 👍🏼
@@thatredcam probably lots of work and saving up money. Plus he is probably single and no kids. From his last name he is Hispanic lots of parents usually let their kids stay if they work and bring stuff to the table
@@thatredcam yeah man I am a electrician Monday-Friday and a server Saturday-Sunday just saving 80 percent of my earnings. Trying to build passive income
Don’t have any properties yet. My goal is to get into real estate investing, my goal is to buy my first property this year. But I’m still watching videos like this cause it’s so fascinating lol.
My girl needed a bank statements and stub last week and I was worried about her loosing her not getting her new apartment 😴 but everything good now only because of deelscafe good work 👍
I appreciate your videos on apartments... I'm all in on single family property right now but I'm actively searching for either and apartment complex or a mobile home park, good deals are hard to come by in my area.
@@brennonthompson835 ah okay. Another question for you is I don’t have the deal yet but I do have a private money lender that will act as a bank to me, but what kind of returns should I propose to him?
Chandler, have you thought about purchasing land and building on it? I’ve been looking into construction loans, architects, contractors…etc, and locking up a deal.
I've been looking at buying a duplex for my first property. My credit isn't the greatest. With the cost of the duplex and the current rental market, it's a no-brainer. So I've been working on trying to figure out away to secure a loan for the property.
Work on increasing your credit score. That can generally be done in just a few short months, depending on what is on it. You only need a 630 credit score to buy a duplex with an FHA loan. There are other benefits too.
Likewise. I'm not sure where to start. My credit score is above 630 but how am I going to be able to provide a down payment *that* massive such as $250k down on a duplex.
@@comerpickles9485 perhaps you have some money coming on with this tax return coming soon? Otherwise, you have to find a way to save it up. Remember that when you are buying, you live in the home for the month and then pay for it, where as when you are renting you pay for the month at the beginning. This means that if you buy in the middle of next month, your first payment is going to be a month and a half away. That allows you to collect your first month of rent and deposit before you ever even need to make a payment.
Thanks for all the tips. I've been thinking of buying some apartments but I have no idea of what is like to deal with all the stuff that you've mentioned. By the way I'm from New Zealand.👍
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Glad I watched this video.. I'm in the process now.. And I'll take your advice... Put down a fourth and spread the rest elsewhere... I'm nervous but being getting tons of advice before I make a move thanks maan
Chandler, question: you buy multi-family and usually fix/rehab the exterior ... do you ever rehab the inside of each unit? When the tenants move out, that's when you do a nice rehab on the units? Or you just do light touches then? And how do you acct for that in your calculations? You use the cashflow to pay for those?
I looked into buying a 40 unit complex, the bank didn't even want to deal with me. They said the only way they would loan money for a complex is if I 1st create an LLC, then that LLC needed at least 5 to 10 or more units, depending on the loan size that can be used as collateral. They also required an Insurance policy that would replace or rebuild the complex if a tornado or fire or another event happened. Property tax money must be deposited into an account that is controlled by the bank. The bank also wanted to run credit checks on all tenants. Once the load was paid off, then the LLC would have to pay for the credit checks. The last part never made sense because the person applying paid for the credit check. The bank wanted 10% of total rent per month.
How'd you get those single family homes? I'm trying to invest in some but have no clue where to start. No solid down payment. I don't even know if my credit score suffices. So many questions
What happens when there is another pandemic and a moratorium on evictions and the tenants do not pay rent even when they are capable? The mortgage is paid by you, not your tenants. The mortgage still must be paid.
How about if you’re starting off on your first investment and you have the experience through books for a value add investment on a apartment building but you can’t get Private financing because you don’t have the “background” or “experience” to get approved. Is bringing someone into the investment that is experienced the only way or is there any other way?
Do you have to have your LLC in the same state you are buying and holding?? Or Can my LLC be in a different state? Thank you so much for the content and info!
Is it possible to do a 1031 exchange on a single-family home to a 5 unit appartment or bigger and differ the capital gains taxes and depreciation recapture taxes?
I dont know where u r finding these incredibly great deals that gives u >10% cash on cash return. We own some properties ourselves and do alot of research in VA and WA. Maybe u can find 3% cash on cash return. 10% seems unrealistic. 440k house will rent for $2500 in my experience
Probably a dumb question, but does personal income matter when getting a commercial loan? Or does the deal itself just supersede any weakness in one’s personal income?
This makes no sense “We gone give you the loan with crappy interest, even though your credit good… just in case you don’t pay back” how does this make sense
Hi Chandler, I was going to buy a tri-plex, but I ended up starting a repair center business. I have an LLC, but not a stable income. The business isn’t lucrative yet, but I hope it will become profitable in 2022. Would not having a stable income be an issue??? I know in the beginning of the video you mentioned if you have an LLC the bank doesn’t care where the money comes from? 🤔
I’m interesting in buying condo in bronx NYC but i would like to know what the average maintenances fee monthly and what is the average condo rent if I rent it ? I wanna calculate how much I can make monthly profit , thx
I have a tenant that’s 6 months delinquent. Mortgage and HOA only 750$ a month. I have a HELOC for my next one but my plan will only work if my tenant pays on time
Confused, your “market” goes up 10-15%/year, but is that SFR? Isn’t multifamily value based current rents collected? Also, C+ property AND great appreciation? This is Lala land
Hi Chandler, my partner has a 25 unit apartment building in Springfield IL. under contract. He wants a partner to bring capital. He wants a 50/50 equity split. 425k is purchase price. 75 k in repairs. 600k is ARV. 85% occupied. rent is 450 per door. Also, a Duplex is part of the deal worth 50k. I waiting on the P/L and inspection to be done. complete. My partner said he has a HUD deal to Triple NNN the renters. You think I have a deal here? Where can I get help to underwrite?
Great! Can you share updates? Apt investment is not simple as people might think. Many factors and analysis and many people involved. If done right, cash flow will be great and wealth is created.
The Astro flipping add seems very sincere but the formate looks like a scam. Why is that? I don’t feel like that company comes off that way. Also, why wouldn’t you just make your fist deal? With all due respect. Honestly, I learned a lot from that Ad. Thanks.
chandler amazing vid man. also wondering, you mentioned your cds calc is free obv on mobile devices. how about the excel sheet you mentioned that was available to download on your site. it said you either need to purchase the product or sign in, cant sign in I'm assuming i have to be a member.
Usually those have amortization for 20 or 30 years. Meaning your payment is like a 30 year loan. But the balance is due in 10 years. But you can refinance in 10 years so you technically don't have to come up with the balance.
But what about the lack of experience (on paper)? I learned that you can't get a commercial loan without proven experience (schedule of properties, or a sponsor with experience). Can a newbie with a down-payment and no experience actually get a commercial loan?
@neal cassady Exactly, I guess telling the truth about how the business works isn't sexy enough. Too many influencers omit the real information. You must have proven experience, or a sponsor who has it that will sign for the loan.
