How to Buy Your First Rental by The END of 2023 (Step-by-Step)

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If you watch this video, you’ll be able to buy a rental property in the next ninety days. That means by the end of 2023, you could have passive income flowing in and equity building on your behalf. But how do you get there, especially during a tough housing market like we find ourselves in today? Don’t worry; we’ll give you a step-by-step guide on finding, funding, and profiting from rental properties so you can achieve financial freedom.
David Greene is financially free because of real estate. He’s been building his rental property portfolio for over a decade, and now, he’s sharing the tricks of the trade with YOU. In this webinar, David will go through the “ninety-day challenge” that helps real estate rookies become rental property investors in less time than EVER before. If you're starting from ZERO and don’t know where to begin, this is THE episode to tune into. Or, if you’ve hit a wall while building your rental portfolio, stick around; we’ll get you to your first (or next) rental in ninety days (or less)!
Ready to start? Sign up for BiggerPockets Pro and use code “YTCHALLENGE23 ” for 20% off an annual membership plus a copy of Brandon Turner’s “The Intention Journal”: www.biggerpockets.com/members...
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00:00 Intro
02:35 Buy Your First Rental in 90 Days!
05:39 How to Start
08:59 1. Why Do You Want to Invest?
13:49 2. Markets and Strategies
15:40 3. Finding Properties
24:54 4. How to Analyze a Rental Property
29:01 Let’s Analyze a Deal Together
39:38 Start Building Your FUTURE
49:30 5. Financing Your Property
51:19 6. STICK WITH IT!
01:01:01 The KEY to Success in Real Estate
01:11:22 Real Estate Q&A
01:13:58 Ready to Buy Your First Rental?

Опубликовано:

5 авг 2024

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Комментарии : 107

@shaleceelynneartdesign387 Месяц назад

I bought my first rental property (a duplex) in 2021 and I'm so glad I took that leap of faith! I'm working on investing in an apartment building now.

@tenminutetravelbreak 10 месяцев назад

I am sitting in my first rental house as I watch this - I just need to go buy a new primary residence and get this place rent ready.

@ACR4008 10 месяцев назад

I am also sitting in my home 🏡…

@abrand617 10 месяцев назад

I am sitting in my home that one day may be a rental.

@Davidlee8900-p6q 10 месяцев назад

@@abrand617 Do you trade the Stock market?

@ednamensah5364 10 месяцев назад

I am also sitting in mine. Lol

@nellysakaly9457 10 месяцев назад

Same here. Waiting to do taxes, then hunting for a new house to rent in future.

@wewefantastical6918 6 месяцев назад

Thank you!! I love this. Straight to the point and great information provided.

@alexanderjobrien 4 месяца назад

Finally bought my first rental. Needs work gonna document it on RU-vid! Been listening for years!!

@drydock000 4 месяца назад

Super love this episode David!! Thank you

@JaySkavz 10 месяцев назад

In Kentucky, I would stick to Louisville, Lexington and Covington, other stuff is too rural but can cash flow if it’s near a hub.

@marceliarakoski6394 9 месяцев назад

Great video very honest information thank you

@lawrencebriggs 10 месяцев назад

The biggest and the baddest! Talk that talk!

@DanKohan 10 месяцев назад

I like your advice on picking what kind of real estate to invest in and where to invest. It's like choosing what type of food you want to eat and where you want to eat it. It's important to start with something you like and understand. Thanks for making things simple and clear.

@z.realb.onthelookoutforthe2860 9 месяцев назад

Yes, I feel fired up!

@emanuelcollado1343 10 месяцев назад

Amazing video ❤

@skysthelimit.podcast 10 месяцев назад

This is great!

@TP-01 9 месяцев назад

I’ve never commented on a RU-vid video before today. Just wanted to ask if you guys could please upload an updated video with current interest rates? The title of the video is misleading when you’re giving a guide to buy a property by the end of 2023 but using a 4% interest rate. They are closer to 8% right now. I understand you guys gotta keep the views coming in but please, if you’re really about helping people it would help to show how you would use a conventional loan in today’s financial climate.

@drydock000 4 месяца назад

Love the tips!

@gregorylewis9442 10 месяцев назад

That's awesome 😻 for Rosey👍!

@casaclau 10 месяцев назад

Hi David ...is there two pro to start the program? Please ckarify

@shonzelldavis1461 Месяц назад

Ran your calculations on a deal I like and unfortunately I’ll be in the negative for 10 years

@rcolucci09 10 месяцев назад

Im seeing the motivation here vs the numbers. Numbers are the important part. Like at 45min if Luxury market dries up I’ll just switch. Ok great not that means a vacant Luxury rental and lowering sell price to exit. Aka losing years of gains.

@brent7261 7 месяцев назад

What about for people that don’t have the down payment needed to buy a rental property?

@dkedwards61 9 месяцев назад

For all of the " the interest rate isn' t accurate" folks, in September when this video was posted here are the rates according to Forbes: 30-year fixed 5.55% 5.56% 15-year fixed 4.73% 4.75% 30-year jumbo 5.46% 5.47% 5/1 ARM 3.90% 4.86% So, when the video was posted, the rate used was pretty accurate.

@ryanwilliams989 9 месяцев назад

I remember in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet.

@maryHenokNft 9 месяцев назад

Most people find it difficult to handle a fall since they are used to bull markets, but if you know where to look and how to maneuver, you can make a size-able profit. Depending on how you intend to enter and exit, yes.

@TheresaAnderson-kf5xw 9 месяцев назад

The enduring US stock market bull run evokes a mix of fear and excitement, presenting opportunities with insight, resulting in $780k gains in the past ten months, utilizing a portfolio advisor for a well-defined strategy.

@BiancaSherly-qt6sb 9 месяцев назад

@@TheresaAnderson-kf5xw My portfolio has been in the gutter for the entire year, so I started researching new ways to profit in the market, but everything I tried just seemed to miss the mark. Please let us know the name of your financial advisor.

@TheresaAnderson-kf5xw 9 месяцев назад

I am currently under the mentorship of *Mary Onita Wier* whose expertise guides my portfolio. I initially discovered her through a feature on Bloomberg and subsequently conducted an online search using her name. Thankfully, I was able to locate her website and establish contact. You have the option to verify this information independently if you wish.

@edward.abraham 9 месяцев назад

I appreciate the information. I did my own research, and your advisor seems to possess a great deal of expertise and knowledge. I've reached out to her via email and scheduled a phone call. I'm impressed by her expertise, and I'm looking forward to our discussion.

@fattailinvestor3660 10 месяцев назад

What year was this filmed? At 34:50 interest rates of 4% for an investment property are used. Was that a typo? Or do you have access to a large line of credit at those favorable rates?

@TP-01 9 месяцев назад

They’re just recycling the same video over and over again for views with different thumbnails. The video is titled “buy your first rental property by the end of 2023” but is using a 4% interest rate. Someone please tell me where I can find that lol. This is click bait.

@antwionepowell3008 6 месяцев назад

I own my property I pay cash for it. Do you think I should sell or rent it out?

@ronynikke 9 месяцев назад

Hi I’m almost close to get the the 20% of down payment but I’m scare

@teddywilliamshead 10 месяцев назад

I opened a +5% savings account..took 90 seconds. Good luck with the whole landlording thing.

@AbiMuy 10 месяцев назад

I feel like I already watched this video few months ago, but the date in it is 14h ago.... am I having a deja vu?🤔

@ayshapm7321 10 месяцев назад

yeah, it's an old video. Thankfully I notice it right away and did not watch it again.

@sanrichardson9577 10 месяцев назад

I was thinking the same thing.

@JamesJamerson-dx4vi 10 месяцев назад

😂

@SolidNate99 10 месяцев назад

Do the podcast guys make more money on rent or making RU-vid videos?

@hjnewsom 10 месяцев назад

🤔good question.

@emiluguevara1441 10 месяцев назад

RU-vid/social media or else they wouldn’t be doing it

@ahmircole 8 месяцев назад

@@emiluguevara1441it’s additional money why would they not ? I don’t think it would be smart to see a product selling and not sell it.

@cjdolberry21 4 месяца назад

Its pretty obvious David is always trying to make money off viewers and listeners.

@omarm.7109 10 месяцев назад

Where does he get 4% interest from? It is currently hovering 8%

@TalentWhisperer 8 месяцев назад

This video was recorded in February

@fiof 10 месяцев назад

37:02 can someone explain this? Cash flow is 604, expenses 1915. How can cash on cash return be 13.68? Isn’t 604/1915 = 31.54% What am I missing?

@guy_with_no_name 6 месяцев назад

Total cash needed to make the deal was 53k. Yearly, 604 a month is 7.2k. That's your 13.7% roi.

@fiof 6 месяцев назад

@@guy_with_no_name Thank you.

@kingblack22ss 10 месяцев назад

I found 5 acres that I can subdivide in the city off market in a growing area for 120k has lights and water on property. what loan can I get to buy this I tried to get them to do owner financing with 20k down but they didn’t want too. I have a rental in that area also and there’s a lot of new home builders in the area I was thinking tiny homes and 3 acres

@robertmartinez5538 Месяц назад

I was listening until the part he said you send out 300 letters and get 40 leads I’ve sent out to close to 2000 and gotten 3 leads no deal yet.

@gregorylewis9442 10 месяцев назад

I want to retire on the WATER 💦!👍😍

@-justicewithtruth 10 месяцев назад

Interest rate is at 4% now? Did you mean 8%?

@RuneValken 6 месяцев назад

They are probably referring to the federal fund rate. When it was 0% mortgages were 3-4%. So at 4% mortgages would be 7-8%.

@josephw1344 10 месяцев назад

You need to train your legs one more day at least. Change your split to M-legs and shoulders, T-chest and arms, W-back, Th-rest or train run, F-legs, Sat-chest and back, sun-rest

@JaySkeeteReacts 10 месяцев назад

STILL WAITIN ON SOMEONE TO DO THIS VIDEO BUT FOR A VA LOAN DEAL. 0% DOWN. HOW MUCH WILL THAT CHANGE THE OUTCOME OF MY CASHFLOW AND/OR EQUITY? PLZ HELP CREATE A VIDEO.

@simonbuhl6515 10 месяцев назад

Bruh u can do that urself

@JaySkeeteReacts 10 месяцев назад

@@simonbuhl6515 I’m clearly asking for it because idk

@stlwardstl1 10 месяцев назад

With 150 in cash at 62 and minimum retirement income do I buy a 150k property or use 50k on a down payment instead?

@luxurypurselady9087 10 месяцев назад

Down payment -- spread your capital to Ty down more clashflowing properties

@luxurypurselady9087 10 месяцев назад

But be CAREFUL since you said your at retirement age and have limited income….. this isn’t quick money.

@nahjelaclaudette7538 10 месяцев назад

Put 50k down and choose a cheaper home with rental capability. Like being able to rent out the basement or part of it conveniently

@samanthawatkins7977 10 месяцев назад

Close the boarder 😢

@Angie0214 10 месяцев назад

Why isn't Rob hosting anymore?

@jgwilliams67 9 месяцев назад

The houses used in the presentation looked to good to be rentals. 😅

@fredkim01 8 месяцев назад

So, essentially.. you are saying we reap what we sow 😅😊

@jamieray6022 10 месяцев назад

First

@hjnewsom 10 месяцев назад

BP pro membership…..yikes.

@nickibateson1466 10 месяцев назад

What happens if you can’t get a loan ?

@giovannimlranda1937 10 месяцев назад

4% mortgage interest sounds as a scam

@dkedwards61 9 месяцев назад

In September when this video was posted here are the rates according to Forbes: 30-year fixed 5.55% 5.56% 15-year fixed 4.73% 4.75% 30-year jumbo 5.46% 5.47% 5/1 ARM 3.90% 4.86%

@jayshahrealestate 10 месяцев назад

4% interest Bruh not real accurate video

@dpirkl4560 10 месяцев назад

What about higher end doesn't drop as much bs.

@jeremyrlack 10 месяцев назад

You’re awesome, but please no more “O” face thumbnails

@nickc3856 10 месяцев назад

I feel kinda bad for Biggerpockets. The entire business model they used to pitch (buying homes to remodel, rent and refinance) doesn't work like it did when the podcast was at it's zenith, home prices were lower, and rates were lower. But BP's private equity owners want to see continued growth at all costs, so now the BP hosts are reduced to making soyface thumbnails to beg for clicks on videos that don't offer anything close to what they used to. Sad. I wonder what comes next

@chamixone 10 месяцев назад

I think they’re doing alright. Massive portfolios, they actually shouldn’t bother making these videos. Thank fully they do and it helped me build my portfolio.

@mmartinez4117 10 месяцев назад

While I agree on the faces 😂😂, I get lots of inspiration and info from the videos and I love it. Also this is the RE market. Would I still love it if I could buy a house for $26,000 like my mom and dad did? Yeah but it's not 1974 anymore. 😅 Things go up! But be ready when they come down!

@RiskOnTrading 10 месяцев назад

Real estate Rookie is still bringing the heat at least .. I just feel like haven’t I watched this video like 5 times already ? But it was uploaded today ?

@idkmybffjill9682 9 месяцев назад

Bought my first 2/2 condo for $31k in 2018. Still doable

@nwchrista 9 месяцев назад

@@idkmybffjill96822018 had very low interest rates and housing costs. It's almost not doable at all anymore. In my area, Greenville SC, home costs have doubled in most cases and tripled in others. I just looked at a foreclosure for 160K that was an absolute dumpster fire. The history on this house was that it last sold in 2015 for 29K. And after looking at it, it's obvious that there have been no improvements at all since 2015 when they last bought it. That's more than triple, that's more than 5 times the cost that it sold for in 2015. After I made a funny couple of texts to the realtor about what a dumpster fire it was, they took it off the market and then re-listed it three weeks later for 153K. They're still completely out of touch with reality on what these houses are actually worth. And this is typical for the area, where all housing has just gone through the roof. I'm not kidding when I say... DUMPSTER FIRE!!!

@kyang162 10 месяцев назад

I don't think it's a good idea to buy your first rental in 2024. Almost nothing cash flows now and you can get 5% in a savings account without any work. Rent is dropping on a national scale too. Unless you are a seasoned investor and know where to buy and have a very specific buy box, now is not a good time.

@gloria5196 10 месяцев назад

Words of wisdom. Good looking out

@ahmircole 8 месяцев назад

Cynicism is one of the biggest killers. How could everything happening be a benefit ? An opportunity ? To heckle is easier than to create new solutions to new problems. Why wouldn’t you buy when everything is selling ? No patience? Fear of loss? It’s what u make it to be. Just stay informed and educated just like with anything. If you’re an unseasoned investor and don’t know where to go, find someone who is seasoned and does know where to go. Smart people work with even smarter people.

@kyang162 8 месяцев назад

@@ahmircole Arrogance is THE biggest killer. WTH do you think you are that you are qualified to lecture others? How much have you made in RE? So tired of these smugs, thinking only they can see the silver lining. If someone is shooting at you, instead of doing the obvious, you might just think " hey, I get to see a flying bulleting entering my brain!"

@TheFlyingHambone 10 месяцев назад

sounds like a scam

@reddragonxd 10 месяцев назад

I hate how you analyze properties with the calculator from bigger pockets. It discriminates against people outside the US. How are we supposed to analyze properties?

@chamixone 10 месяцев назад

Move to the US lol

@mmartinez4117 10 месяцев назад

Hate? Ugh the Internet has some like it and there's also paper and pencil...

@reddragonxd 10 месяцев назад

@@mmartinez4117 please link to calculators just as good that works for properties outside of US

@rcolucci09 10 месяцев назад

*sigh* yet another education and membership cattle call disguised as useful information. I’m not mad at self promoting just disappointed as it’s hard to find the real stuff that isn’t locked behind a paywall