AVOID these Top 10 Stupid Mistakes | Real Estate | Buying a Home or Investment.
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- เผยแพร่เมื่อ 22 มิ.ย. 2024
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How to invest in real estate, for beginners: It's very important to avoid these 10 stupid mistakes that are commonly made when buying real estate. So if you're buying multifamily real estate, single family real estate, or any investment real estate, make sure to avoid these 10 pit falls of investing in real estate. Real estate for beginners. Avoid these stupid mistakes! Don't be a noob! Be a pro, and consider where you can save money and BUILD YOUR WEALTH.
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1) Make the house look nice update do not put in expensive upgrades
that get little return in rent
2) always check tenant background and credit score
3) do not buy a house in the hood this will scare good renters away - location is important
4) do the renovations yourself - use contractors sparingly
5) check the house for mold termites plumbing electrical roof HVAC sewer bad foundation and damage before buying - expensive repairs
6) mortgage insurance - avoid if possible
7) found a local realtor to give you accurate comps .. comparable homes with correct appraisal prices .. get multiple comps if possible
8) use the gross rental multiplier equation to calculate value instead of cash flow .. value is the appreciation plus the rents
9) buy in areas and towns you know .. close by so you can check on it
10) calculate cash flow from rent minus costs taxes repairs etc .. appreciation .. and buy as far under market value as possible
11) learn ways to find homes at discount .. buy from people you know personally .. foreclosure auctions etc
12) try out the "deal machine" real estate database
Thanks for the summary. 10 seconds after watching the whole video I had forgotten all of the rules....
Saved me 30 min, appreciate you bro !
Thank you so much!!
A blessing my friend
its nice seeing vids of old school kevin again. back to real estate and advice instead of endless stimulus updates. (i appreciate the updates, but this is a nice break)
Agreed!!!
@Rich Parker can you please shut up
Love these “don’t make these mistakes” videos 👍
I see u everywhere!
Yeah me too. Block block block
@Meet Kevin u genius
Finally a real estate video! : D
It's his energy for me. Even with bad news, the way Kevin delivers it leaves hope
Heisenberg, you make awesome videos.
Made me lol... Had to remember who heisenberg was.
Him and Loran selling Crystal Courses!
Kevin I’ve been following you for a long time and I always hesitated to buy your course.. now I regret not buying it when it was wayyy cheaper 😂 worth every dollar still ! Keep up the amazing work
Great video! Thank you for a very informative and well thought out video.
Kevin, the frequency you made videos made me feel like I am with you whole day. Nice work and get a good rest this weekend! 👏
uhm, he's married...stop hitting on him.
I thought the same hahaha
I just pictured you laying in bed stroking a cardboard cut out of Kevin while saying that 😆
You are the GOAT of Real Estate and Stock Investments! Appreciate all your videos Kev!
Love this kind of content! Thanks Kevin!
You always seem to amaze me with your videos and the way you creatively market your courses🏡🙌🏼
Thanks for the useful tip
Thank you, thank you, thank you!!! You answered so many of my questions in this one video alone. Especially the 1% rule and cash flow, and out of state investing.
A simple but great video. It's especially useful as I'm starting my first rehab today!
This is so true. Just painted the old brown cabinets in my rental home. Thanks kev. Share knowledge
Love your content and humor. Stay strong!
This video made me realize how much I need the real estate program.. definitely going to buy! Very patient and explains it very simple!
awesome video, lot of value thank you!
Hey thank you so much for your information, Kevin. I've learned a lot and you have been a godsend to me. Most impactful thing to happen to me during this pandemic has been finding your channel 👊🏽
Brilliant! Watching from New Zealand. Learning loads.....
Thank you for the education Kevin. The GRM formula is helping me a lot.
Great info thank you👍
Wow this advice is incredibly useful thank you
Wow great information! Thank you Kevin! 100% one of the best real estate investing videos on TH-cam.
Great video! Keep up with the real estate videos!
Hi Kevin, thank you for all of your great content.
Thank you so much this really means a lot Sharing this information with a 16-year-old trying to make his life better just thank you and good bless you
Keep up the good work!
Kev thanks !!! I jus had awakening!!! This is awesome!!!
Great video Kevin, always have to grab pen and paper when you have videos like this!
On point Kevin!
Wonderful professional advice. I like it.
This content is so valuable. Good job! I hit that notification bell for that reason. Can you do one on pro and cons of having 4 or more properties?
Like it a lot when you post these. Can't wait to get into Real Estate! Will take this advice when I do!
Agreed. I currently have a lack of income, but I'll get there.
@@rmt3589 yessir you and me both will get there!
@@HenryTheIII Amen brother!
@@rmt3589 in the same position as you two, we will get there!
I’ve been missing these real estate videos! 👍🏾😎
What an amazing educator.
One of your best videos imho. I learn a lot from your real state videos. Thanks
Great video!
Keep it coming
Kevin... I love you. Chill on the ads please:)
Great video. Very nice done.
This is Kevin's best content, and for some reason gets 10% the views of all the stimulus videos smh
Maybe because he does hundreds of stimulus videos - - all variations on the same title so it's easy for TH-cam algorithm to keep recommending
A lot of people don't have the balls to get into real estate so they don't bother
Meet Kevin, this is why I subscribed to you on day one. You are Super Smart. These video make you want more information. to join your Classes. Or if you can not afford to at least thank you for giving them a head start. Great Job!
These are all on point! Very helpful to those who are interested in buying a home or investment.
ขอบคุณค่ะ Thanks Kavin 👍👍
So much freaking value here! Wow!
1,000,000 subs! Getting closer! 🤘
Holy Shit, hes at 1.3m now
Thanks for coming out with non-stimulus related content. While I really appreciate your amazing breakdowns and giving us the most up to date info on stimulus, I love your real estate content as well. This is what brought me to your channel originally and why I will stay, if you keep producing it. Thanks for listening, and thanks for your hard work in all of these subjects you tackle!
Looool I'm just sitting here listening to your video in the background. I know most of what you're speaking as I used to be a house flipper, then I hear you say "I know Davie, Florida really well" I grew up there too! lol I am saving up money right now to try to buy a mini farm there. I live in Ohio now but I can't wait to get back to Davie
Kev the master! Our daily updates from the investing guru 👏
Love the noob vs pro videos!! @meetkevin
Sheesh Kevin am already gone but your course as soon as I turn 18 but he keep dropping these valuable videos 😂Kevin’s the best🤟🏾🤟🏾
Geez Kevin you’re really knowledgeable man, gotta give it to you! Thanks for the information, wish I could be a genius like you 😭
Good job kevan
Thank you for this looking to buy rentals next year. Your hair looks good at this length. Where did you get that coat it's nice.
Excellent
Totally agree on all these
Congrats, you hit 1mill subscribers!
Kevin u da man .. u inspired me to buy a house .. I’m going to start looking rite now..
thanks for the tips
Love it.
Great content Kevin! More RE vids please!
Im building my own, 100% cash, the compounding effect once I have multiple properties, will cash flow many new builds per year. Ill catch you one day with your loans still under you. And im giving you a huuuge head start. Great info as always.
Love the videos. Buying one of these "great deals" is easier said than done. In my area, there's 100s of people that are jumping on these fixer upper properties that are selling below market value in a great neighborhood. The day the house hits the market, the property gets bid up to the point where it's no longer a good deal at all. So good luck to ya'll searching for that house that hits all the wickets. It's likely never going to happen.
I've noticed there's much less competition on the more expensive but already finished properties that are listed at market value. That's where I'm going. If I can get one of those homes at or slightly below market value, that's a win in the DC/Northern Virginia market.
As someone who will be buying a home soon with 5% hopefully, I never knew about that built-in pmi (cmhc where I live). That's likely something I would have fallen for had you not said that. I think it would be seriously wise to buy your course before I dive into real estate investing as you've consistently given me quality tidbits
Course style vid👍
Best thing to do on my lunch break is watch you🔥
Good to see another Noob vs Pro real estate video! Nice to see this instead of more stimulus talk. Because that's not happening
pls make more rental property videos! thank you for the amazing content
Kevin you are truly a great teacher at investments. I have learned a lot from you. I will definitely be considering buying your course. I am a commercial real estate investor myself and now looking into investing in houses as well and I have learned a lot.
kevin def looks better with hair! haha great content like always brother!
I just bought my first property and I’m having to do pretty much all of this besides replacing cabinets and appliances. The bathroom has had water damage so it’s getting gutted.
I live the new look
Danm I got alot of transcribed notes here lol literally verbatim. You are the best!! I love what you do for us noobs lol
Can you do a video on buying mortgage notes from banks? Im interested in what your stance is. You seem to be very knowledgeable. Thanks!
This whole time I’ve been watching you I had no idea you’re from Davie, FL! So close to where I’m from in Cooper City.
Can't believe there's still no stim... Oh! An OG Meet Kevin video.
@sean flemming I don't understand.
Can you do a segment for first time homebuyers or people that are looking to sell and re-purchase in this market? It would be really helpful to a large population of us that are going through this right now
There are still some great deals on the market right now. What market are you in?
Eeyyy! 25:02 a Davie, FL shout out! MeetKevin, has NSU expanding affected the housing market in the area??
I’ll be down there in two weeks, should I buy a rental property if my in-laws run errands for me?
Kevin, do you have videos that breakdowns the cost estimate of renovating? It could be a very long video, maybe make multiple videos for diff parts of the house
The haircut is looking nice Kevin!
You forgot to mention,listening and watching your videos for financial advice!
I know it might not matter much for the sake of the demonstration, but the “mode” is the most frequent number in a series. That is what it seemed you depicted around 22:20 👍 love all the information though. You are awesome!
i liked you then i hated you and now i like you again. good RE tips. Thank you
Hey Kevin, what percentage of the monthly rental income would you allocate to reserves?
Kevin will hit 1,000,000 subs before a Stimulus deal gets passed
😂😂😂 truth
Kevin if I have a lot of debt should I wait or buy? I’m working on the debt but it will be a long time.
Hi Kevin, love your videos. I have a question if you don't mind - I've heard it said before that there's not much that can go wrong with real estate investing because even with a bad deal (low-zero cashflow) you'd still have a property paid off (or close) by the end of the term, and that would be paid by the tenant....so not a bad return on just 25% down (i.e. 2-3x your initial investment). What would you say to that thought? Thanks :)
Hey Kevin
One benefit of Socal is if you have a old roof you can wait for the wind to blow a few times. If I lose shingles wait a little longer since it rarely rains and get the roof tune up. Id rather spend 300 then 10k. I hate going up on roofs.
Jesus and here I am watching this while calculating GRM for my area and its 21-23 minimum. Market value for 50-60sq meters is around 100k, with rents being at maximum 380 to 400!
Feels bad man! :(
Meet Kevin, have you any insight to buying a “Affordable Housing” new builds? Are you able to live in it for a few years and then use it as an INV property? ...Or they not eligible to rent out.
My current plan- I am buying land and putting mobile homes on it. Sells for a $50k Bare minimum but usually $80k net profit. I’m a realtor so that helps but - now I’m doing 6 a year. I don’t need that tax expense so I’m looking to like kind exchange 5 of those and just live off my real estate sales income
8:10 “most developing location” 😂
If you don't have a tv hosting deal within one year I will be shocked. I never GAF about money before watching your videos and the other you tubers doing these great videos during the GME thing. Thank you for your awesome demeanor, easy explanations etc. I wish you had asked Vlad why he allowed selling and only restricted buying, but I may have missed that part of the interview. I have learned more watching your videos than in college courses.
Kevin! How do you feel about the Pokémon card craze?
wait really? LOLLL where are people buying/selling this? on ebay still?
For derogatory marks on a credit report, I’d probably dig in a bit to see what it’s about before outright rejecting a potential tenant. A bankruptcy filed for medical debt, for example, is going to weigh a lot less on my decision than someone that had discharged some auto loans and a bunch of credit cards.
If I buy a new place, I’ll have about $400 negative cash flow due to my current home mortgage. Do you still recommend to buy a good property in this market?
New sub here! Any interest in doing video on how to negotiate a deal that’s below market?
I looked in the description for "deal machine" and don't see it.