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I Bought A 12 Unit Apartment Building For $450,000!! 

Financial Freedom Lifestyle
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25 дек 2022

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Комментарии : 129   
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Checkout my new booklet on real estate investing. It is a step by step guide on how YOU can purchase your first rental property. amzn.to/3SwYQKK
@ciclurieconomice8494
@ciclurieconomice8494 10 месяцев назад
love your video. i vahe some charts at section community, real estate related, for you.
@user-fw3hc7cr2b
@user-fw3hc7cr2b 2 месяца назад
My family also purchased a 16-unit apartment building in Texas We manage it our self and cut the operating expenses rent is around 650 per month now. and due to rising rent prices... it's not easy to find 650 per month apartment with central air and wooden floor. so... our apartment is always full... as soon as a tenant leave... we get 3-4 applicants right away. plus... the property value itself doubled past 6-7 years since my parents purchased it 1. The term “cash flow” is commonly used to describe the amount of money produced by a property. 2. Net Operating Income is the specific term used to describe the amount of income produced by a property on an operating basis. It is calculated as gross income minus operating expenses.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 2 месяца назад
That’s awesome. What a deal! Thanks for sharing.
@ar2068
@ar2068 Год назад
What an inspiration! Thanks for sharing
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
My pleasure !
@kennylamintao4948
@kennylamintao4948 10 месяцев назад
Thanks for the info man. That 12unit ofe $450 is a good price. I was planning the same.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
My pleasure
@Whosurdaddy71
@Whosurdaddy71 10 месяцев назад
Duplexes are a waste the same loan will get you a 4 plex. Start with 4
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Or bigger
@x6da9crain
@x6da9crain 9 месяцев назад
Yea now finding triplex and quads that are worth it.. much harder find
@richardhislop-harvestthena4882
@richardhislop-harvestthena4882 10 месяцев назад
Awesome man! Thanks for this we are working towards are first real estate small multi fam or larger multi fam investment. Subbed to the channel awesome vid! I'm like reviewing and analyzing tons of properties, what method do you recommend for those of us in an area that is way to expensive how we can find great deals in areas we don't live in personally but know agents?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Thanks for the support! I would say look outside your local area and actually spend some time and money in those areas and get to know realtors and investors. Attend real estate meetups in those areas. If there isn't one, start one. That what we did.
@tbprofile1295
@tbprofile1295 9 месяцев назад
This was very informative. I will check out your other videos - would be interested to know what duties are assigned to the property manager out of that list that you made. Are you incorporated?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
All day to day activities, emergency calls, follow up with arrears etc
@sanj5026
@sanj5026 Год назад
Beautiful brother! Love it. This is my next move... Where did you find such a screaming deal though??
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Eastern Canada
@checoquique
@checoquique Год назад
Hello Colton, just stopping to say how much your videos inspired me to learn more about real estate and find my way to financial freedom too!! I received my copy of your book and already taking notes from your good advises. Do you have/offer one to one advice on zoom ? Thank you so much and wish you the best!
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
That’s great! Thank you for getting yourself a copy and for the kind words. I use to offer mentoring calls frequently and May begin doing it again for people who are serious about there financial future
@checoquique
@checoquique Год назад
@@FinancialFreedomLifestyle I am DEAD SERIOUS! LOL, if you ever come to Halifax for a business trip let me know and I'll buy lunch haha! And YES, please write my name in that mentoring call list Sir! 😃👍
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Send me an email and perhaps we can get something going in the new year coltonlukeybusiness@gmail.com
@braydenmiller8295
@braydenmiller8295 10 месяцев назад
You might want to consider the CMHC MLI Select energy efficiency retrofit route in the future if doing these larger acquisitions. Haven’t mathed it out but MLI Select usually gives great financing options.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Yes we have for other projects but I wouldn’t go any higher then 85% LTV personally
@patrickbramhill3434
@patrickbramhill3434 Год назад
Great content !
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Thank you 🙏
@mosesbroderick5964
@mosesbroderick5964 11 месяцев назад
Thank you for this video it supper informative with so much clarity. I desire to be an real estate investor which i believe demands i acquire relevant and applicable knowledge and your RU-vid channel offers that. I desire to own my first real estate investment i believe if i can learn the ropes well from those who have gone throigh the same part I desire to follow then their will be no fear of owning a multi family apartment 12 units even as a first time buyer. Sir i desire to learn more from you and i hope to see more of your informative videos as well as videos on how to master the act of crunching our numbers, things to consider when buying an apartment, and more from your wealth of knowledge More power to your elbow
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 11 месяцев назад
Thank you 🙏
@getchabandzup
@getchabandzup 10 месяцев назад
you did a 1 year arm thinking rates would go down and instead they went up. curious to hear what your current rate is? How is this property preforming today.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Checkout the latest video ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-WkUGaZJAUNs.html
@banginzaza
@banginzaza Год назад
Heck! Sounds like waiting for 6 units or better will be worth it! Skip the duplexes 😂
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Bigger is better
@nadiazarif2439
@nadiazarif2439 10 месяцев назад
Finally found someone who is in Canadian market. What do you do if you are in GTA where market is too high, interest rate are too high and you are stuck to get 20-25% for second property?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Go outside the GTA
@dwightstone6569
@dwightstone6569 4 месяца назад
❤ THANK YOU 🙏!!! For stating that it took you and your Amazing family 6 years to get to this point. A lot of people think you can just jump in or succeed overnight.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 4 месяца назад
You got it. It's a long term journey. Still grinding today.
@briguys_adventures
@briguys_adventures Год назад
Hey Colton how do you stay ahead of the competition on finding deals in real estate ???
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Mainly, buy getting out there. Actually networking within the community and making myself known with all the businesses in the area. I also make my presence known at city hall and the colleges/universities. I want people to think of me when there looking to sell or know something looking to sell.
@rogerkenworthy6380
@rogerkenworthy6380 10 месяцев назад
Great advice! You bought extremely well...actually unbelievable, - I have a property in your area at the moment and it's worth much more. Now, a six-unit building is over 800 K and a 12-unit about 1.5. Question, if you take out 500 K in equity, will you still be able to have positive cash flow?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Yes more cashflow because we turned over 8 units and got a 40 yr am
@rogerkenworthy6380
@rogerkenworthy6380 10 месяцев назад
Great idea for a 40 year am...I choose 15 and it's costly. All the best brother. @@FinancialFreedomLifestyle
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
@rogerkenworthy6380 🙏
@somethingoutdoors1412
@somethingoutdoors1412 9 месяцев назад
I have a 10-acre parcel. My question to you is what would be best to build? Apartment complex or condos?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
I'm not a developer and there are so many factors. You'd really have to run the numbers. Cost to build is high these days.
@Boostgravyy
@Boostgravyy Год назад
So small duplex / homes is the best place to start for property rentals ?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
The key is bigger is better but if you can house hack and get into something with a low down payment and have a tenant pay for you to live it’s a great way to start
@Boostgravyy
@Boostgravyy Год назад
@@FinancialFreedomLifestyle appreciate the advice and knowledge
@Mavryck_Tha_Myghty
@Mavryck_Tha_Myghty 9 месяцев назад
I fail to see how $37,000 per year is “massive wealth” but I appreciate the break down. Cheers to your success.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
$37,000 for one building. That will turn into $60k a year cashflow. Plus it’s going to be worth over $1.6m in the next 2-3 years. Do this a few times and there is your massive wealth.
@whatta7793
@whatta7793 8 месяцев назад
Don't forget the massive amount of equity that this property will build over time. ;) Cashflow is only one factor in real estate.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 8 месяцев назад
💯 thanks for watching
@joshwilliam7850
@joshwilliam7850 4 месяца назад
You should do an audiobook for those of us that are dyslexic
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 4 месяца назад
It’s on the list. Trying to find the time. Thanks for the reminder
@killerrush77
@killerrush77 9 месяцев назад
do you do everything yourself, or do you have a team under you? property manager, maintenance, .........
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
We have a team
@nickmora6592
@nickmora6592 3 месяца назад
What city was this in? In Edmonton Alberta you cannot buy that for 450 k
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 3 месяца назад
East coast of Canada, where the average building like this was $1.2m at the time. There are deals everywhere you just need to find them.
@thaddeuschrzanowski4666
@thaddeuschrzanowski4666 Год назад
Awesome knowledge
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Thank you! Hope you got some value from it
@gloofisearch
@gloofisearch 10 месяцев назад
Great video. However, 8 month later and rates have gone up even further. Hope you are going to make it.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Watch the $600k refinance update video 😉
@karlblais7166
@karlblais7166 Год назад
Where in Canada you can still have so cheap real estate ?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
I’m in eastern Canada but there area deals like this everywhere you just need to get creative and keep searching
@izabari
@izabari 9 месяцев назад
Im wondering where rates are now?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
5% for the product I’m using
@Summersault666
@Summersault666 10 месяцев назад
What is cap rate 7%? Can you provide us with further information? Do i get tax insemption if i reach above that value? What the name of this loophole?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
No loop holes. 6.5% cap rate
@Summersault666
@Summersault666 10 месяцев назад
@@FinancialFreedomLifestyle I think I understood what you said. If my cap rate is lower than interest mortgage I will pay no taxes in capital gain, right?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
@Summersault666 you don’t pay taxes on your refinance money because it’s a loan
@simpleman6221
@simpleman6221 Год назад
Nice
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Thanks!!
@cactusaviator
@cactusaviator Год назад
When you say refinance tax free I’m assuming you mean refi-cash out?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Yes. I hate HELOCs
@lazardjurovic2883
@lazardjurovic2883 10 месяцев назад
What does it meaning "putting power into their name"?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Electricity
@bvssrsguntur6338
@bvssrsguntur6338 10 месяцев назад
Where did you scout and buy this 12 unit?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Hundreds of hours of research and marketing. East coast
@bvssrsguntur6338
@bvssrsguntur6338 10 месяцев назад
@@FinancialFreedomLifestyle But where do we start ?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
With educating your self on what real estate investing is. Then go buy a 2-4 unit property with 3.5-5% down. Live in one unit rent the others out
@bvssrsguntur6338
@bvssrsguntur6338 10 месяцев назад
@@FinancialFreedomLifestyleThank you! I already have 1 four plex and other is in contract since 3 years. I may close it by Dec. But I am not able to step into bigger units and couldn't find a way to scout the deal.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
@bvssrsguntur6338 Partner if you have too for the right deal
@keeperzero
@keeperzero 8 месяцев назад
I just bought a 96 Plex. !!!
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 8 месяцев назад
What!! Where?? Love it!!
@danielcruz4140
@danielcruz4140 2 месяца назад
How I’m tryna buy my first but got a 650 credit score
@leonarddetommaso1915
@leonarddetommaso1915 10 месяцев назад
What State did you buy it in ?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
I’m in Canada
@FritzMadness
@FritzMadness 9 месяцев назад
how can i get a loan without downpayment in canada? i wanna buy a building also.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
You can’t. You can try seller financing but you usually have to put down something.
@FritzMadness
@FritzMadness 9 месяцев назад
@@FinancialFreedomLifestyle yeah no kidding, hard to get 20 percent down in Canada these days
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
@FritzMadness never had a problem. Gotta go bigger and take advantage of commercial financing options.
@FritzMadness
@FritzMadness 9 месяцев назад
@@FinancialFreedomLifestyle I am your student I’ll do what you say, teach me 😂
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
@FritzMadness unfortunately, I don’t really do that.
@razaaali
@razaaali 10 месяцев назад
Do you buy properties on your name or business ?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Business now but when we got started the first few were personal.
@jonathanwilliams8442
@jonathanwilliams8442 Год назад
Do you guys invest in Tx?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
No we do not.
@danielkamui6559
@danielkamui6559 Год назад
Is this building in US ? What state??
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Canada
@jhm911
@jhm911 Год назад
​@@FinancialFreedomLifestylein what state of Canada bro?
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Nova Scotia
@aakashpatel8518
@aakashpatel8518 9 месяцев назад
From the future here, mortgages are now at 7.75+… depending on lender. Goodluck
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
CMHC
@johntownsend1837
@johntownsend1837 10 месяцев назад
I would’ve just used a lawyer to make the process easier
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
We did
@samuelcotnoir2705
@samuelcotnoir2705 10 месяцев назад
Hi! I’m 18, got 20K in stocks! Love your channel!
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
That’s awesome! Keep going!
@LambSood
@LambSood 10 месяцев назад
6.25 rate Lucky. We will never see anything less that 4% no more lol.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
Give it a couple years. Next crisis is around the corner.
@LambSood
@LambSood 10 месяцев назад
Hopefully once that rate comes back be ready for a lot of refinancing etc lol great video btw!
@Silver_Xarr
@Silver_Xarr 9 месяцев назад
450k for a 12 unit? where do you live in my state a 2 family cant be found for under 600k.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
I live in Canada. But moved to a different province to find deals
@Silver_Xarr
@Silver_Xarr 9 месяцев назад
@@FinancialFreedomLifestyleoh canada lol. i live in New England and looked at a 10 unit the other day. they were asking 1.2 million so when i saw 450k for a 12 unit i was like "i havent seen prices like that since 1980
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
@Silver_Xarr deals are everywhere. The average 12 unit in this area goes for $1.8m I just found a distressed seller
@Silver_Xarr
@Silver_Xarr 9 месяцев назад
@@FinancialFreedomLifestyle wow what was the condition of that place. i would just sell it and make 1.4 million
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
@Silver_Xarr checkout the update videos I’ve been making.
@kdnofyudbn5918
@kdnofyudbn5918 Год назад
Where in the FK do you live that you can find a 12 unit for only 450K , this sounds SUS.
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
Canada. Deal was off market. Seller was in distress. Quick closing. Oh and was suppose to get the other 12 unit across the street for a total of $900k but it had a fire.
@investingguide5102
@investingguide5102 Год назад
🤑🤑
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle Год назад
:)
@27Killermike
@27Killermike 9 месяцев назад
You spent the money so you could increase rents lol. Clowns
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 9 месяцев назад
You must be a renter.
@u2fkeys665
@u2fkeys665 10 месяцев назад
Yeah sure did clickbait
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
??
@u2fkeys665
@u2fkeys665 10 месяцев назад
450k for a 12 unit! Where did u buy it in Hati! 😆
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
@u2fkeys665 Nova Scotia Canada
@u2fkeys665
@u2fkeys665 10 месяцев назад
@@FinancialFreedomLifestyle oh ok it makes more sense now☺️
@FinancialFreedomLifestyle
@FinancialFreedomLifestyle 10 месяцев назад
@u2fkeys665 👍
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