And could be looking at property near the port, on the drive to/from the port, or near the island ports... International real estate in a tourist destination, anyone? 😃
only a smal part of it. If the cost is 10.000 dollars he could possible write 1500 off. You can never write your children trip costs off. And your personal costs are also 50% private and 50% business.
You should do a new video about Cognitive hacks ! I really like you’re mellow delivery and you seem like you’re very knowledgeable. I watch lots of influencers and you always seem very calculated and know exactly what you’re talking about and understand it. You’re better at explaining complicated things simply, than any other person on youtube keep it up brother!
I wonder what people thought about a man with a camera going around on the Disney cruise talking about real estate? 😂 Kidding aside, it's great input and insight of how real estate can be a great investment tool in your experience! Hope you had a super fun time on the cruise!
Cruise ships are hella spooky... there was two hallways in my last cruise that went all the way from the front to the back and I was drunk walking down it. I for real kept thinking I got stuck in a loop where I’ll be tortured forever. All the doors were the same, and once you reach the middle of the hallway, you can NOT see the start or end of the hallway... in the middle of the ocean... it was freaky.
@@mattharris2691 LOL No, but I watched films like 1408 and The Shining when I was young, so now I'm SO weary about long hallways and repeating patterns in buildings. It's easy for me to be scared sober, let alone when I'm shot off of an entire pitcher margarita hahaha
After leaving the military in 2012 I bought a foreclosure for $75k in Florida. 2015 refinanced and did some rehab and added a pool ( family now) raising my principal to $108k and lowering my rate 2.3%. 2017 pulled a $110k HELOC (house valued at $280k) and bought 3 units, rehabbed them and they're now producing $2900mo cash flow and have over doubled in value. The borrowed money from my HELOC has been paid back and I'm using the full HELOC and cash to try and purchase a 12 unit building.
I’m in the military as well, getting out next year. I plan on getting my first property when I land my first job. I’m going into multifamily because I think it’s the fastest way to achieve positive cash flow and networth. How’d you start out? I know this comment is 2 years old but I’d love to get in touch brother! Thank you for your service as well!
Cognitive hacks . Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
Kevin, your wife just validated my plan - we've just moved into our first home - in a few years we plan to move out and rent it out - then repeat the process again.
@leebog31Have you ever heard of the phrase "Time in the market beats timing the market"? Also, you are talking about if someone was to buy a house to flip, and while they are flipping the property the home goes down in value. That's not the case here. If someone is buying a house to rent out, cash flow, and keep the property for "x" amount of years, then the market going up and down will not affect this person in any way.
@leebog31 why would it matter if it went back up if you continue to hold onto the property? Also, historical data shows that real estate increases in value of the long term. Yes there are crashes, corrections, etc... but data proves that over the course of history, real estate has always recovered, and exceeded the prices they once were.
leebog31 I’m from the UK, and I’m going to be holding onto the property for some time (first of all to live in) and secondly to rent long term. In the UK rentals are doing incredibly well, especially in my area - even with economic uncertainty, I’ll capitalise on those who are against buying homes by taking their rent money. Simple really
I literally watch all of your content. I believe I can succeed following your advice and wisdom. I want to make 30000 every month lol that's what came to mind but Honestly. My main Affirmation is , I Am Self Employed, and everyday my company is getting Stronger. That's honestly the first step walking away from my 9 to 5.Forever grateful to Cognitive hacks
Henry what does that even mean. I specifically said vacation. Go call up the irs and ask them if they are cool with you claiming your personal vacation is a business expense and let me know how that goes.
4:50 I think it’s important to reiterate that, technically no you couldn’t buy a lot of the drinks with that money. Off the cash flow, yes. But not with the equity/net worth you’re gaining.
Meet Kevin absolutely. And also sorry if the message came off negative. I really enjoyed this video. I’m 19 and beginning my journey in real estate and finance and your videos are a massive help (literally binged like 20 of them today when I found your channel) I mainly just made the comment because I was a little proud of myself for being able to have some input on the subject haha
@@Inquiring nope! I’m unable to purchase real estate because my lack of a credit history. So I’ve been spending this time just working on building that history with a credit card as well as investing in the stock market and doing my normal work to gain capital. But real estate is still something I’m very interested in and keeping my eyes on
I love this!! my husband and I just started our journey 2 years ago, rented out our first home then bought a duplex, live in one side and rent out the other. We hope to be able have a lot more property in the future!
I actually have a course you could use to become as confident as Kevin. It also focusses on getting a higher paid job too. Let me know of you are interested👌
Honestly you could avoid more than twenty two million you could have family partnerships establish a Walton trust and do tons of other things to avoid the estate tax
I wish I saw this video when I was 15 yrs old. I’m also a Realtor. Get a job, save your money for a 3.5% down payment, buy a house and live in it while renting out your other rooms. Then eventually move, rent out your entire house and REPEAT! The key to that is you only have to put down 3.5%. If you were to buy a home that you don’t plan to live in (called non-owner occupied) then you would have to put down 20-25%! That’s a savings of $33,000 for a $200k house (3.5% down vs 20% down)!
Jason Walter Ya but once you refinance after a year don’t you have to convert it to a conventional non-owner occupied or do you just draw up a lease and move on? This is one detail no one has mentioned online as of yet just when I think someone will utter it out their mouth they glaze over it🤬
@@boxerboy860 In most cases, Kevin suggests not refinancing. Market rate rents should be enough cover the mortgage of that house once you move to another house. He has lectures in his REI course that explain how to determine whether or not to refi.
@@manp1039 I did not. I bought my first property when I was 29 but it was a 1 bed/1 bath. I wish I had purchased at least a 2/2 or 3/2 and rented out the rooms. Now I'm married so there's no way I can rent out rooms now but I wish I did when I was younger.
@@boxerboy860 Good question... You must be in the home within 60 days after buying it and live in that property for a minimum of one year, full time. If you move, you aren't required to refi. However, I'm not 100% if you can move and get another FHA for any reason so let me find out for you.
Awesome and very insightful update well i will also say this here. The awareness about making money online is getting higher daily due to covid 19 pandemic as the cryptocurrency world has recently noticed high flow of traders mostly when it comes to bitcoin trading,but due to lack of trading experience a lot of traders lost so dearly either by executing trades wrongly or using the wrog strategy. As a trader i have been as to record massive success trading and making good profit because i was lucky enough to find a working strategy/daily signals which was provided by an expert broker knowns as Morgan trading services . Her guidance and accurate signal is one of the best anyone could ever wished for when trading bitcoin. During my first month of trading with Morgan’s trading signals i was able to grow my initial deposit from 1.0btc to a total of 6.6btc which you would agree is a very good profit. Morgan daily signals are very accurate and yields a great positive return on investment and she’s always available to give a helping hand
"But one should know that the GOAL is not Passive Income at first, but wealth generation and controlling as Real Estate much as possible to increase the net worth" - Kevin Paffrath - Real Estate Investor. We should make a quote wallpaper with a variation of the above, right?
I am a real estate millionaire and bought most all of it with cash then did rehab increasing the worth greatly. I care about the income mostly. If it does not create good cash flow then do not buy it. If you are only really betting on the rise in value then you are betting on the appreciation. It has been great the last few years and crazy some places but the real estate has a cycle and we may again see values fall.
@@mecheckraise Well, I did pretty much the same thing with my first one, BUT! I am definitely limited by cash in repeating the process and most of the money are made when buying and rehabbing, just like you say. A -100-200$ cashflow for a good net worth increase from the buy and rehab is not devastating...I see your point and having cashflow to cover all the costs associated with the property with a small cushion would be the ideal situation and a safer one.
@@alexandruulici-buyingfreed9118 I agree with what he is saying. He broke it down well. Just note that unless you are in a great rising market that doing skinny cash flow deals can be tough when the market goes soft. Most people after 4 rentals find bank financing tough. As long as you have great tenants I see controlling a million dollars of real estate and paying it off in 15 years has always worked as long as you do not feed it. Friday we close on a 3/2/1 brick that should rent for $800 and we are paying $37,000 cash as a foreclosure. It is worth maybe $65,000. For me it works.
Kevin, you deserve way more subscribers. This is such an underrated channel that offers so much to learn about real estate and just about life in general. I’m predicting a very successful year for you on TH-cam, keep it up!👍🏻
Was watching this video, got halfway through it and totally forgot to finish the video because I bought the course and was more excited to work on that instead 😂
I always look forward to your next update. The market cycle still hasn't met its balance, we keep going round in circles while waiting for that huge blow out on a huge support but in the meantime we could always ignore the market ups and downs and stay fully invested. Big thanks to Cognitive hacks for helping me earn over 11btc by implementing his method and following his guide.
@@millennialmoney3146 At some point in a young woman's life they have to start being real with themselves and make the decision to start wearing a more modest one piece bathing suit, but some woman never understand that aspect. If they have a nice body then wear those bikinis all day long, but I guess having a "nice body" is in the eye of the beholder.
Bro I am hooked I am trying to quit my job and start doijg something else I’m looking into a dumpster rental business and other business I’m done working and I don’t want to to this for the rest of my life I found your channel for the whole stimulus updates but your much more than that and know so much I will study you and try to Dj what you do.
Neighborhoods going up like crazy here in south Texas, dumpster rentals everywhere for construction sites. You could make a killing if you get in with the building contractors. Good luck and don’t just concentrate on residential rentals go for commercial anytime there is a neighborhood going up or major school construction jobs. Get that income!
Kevin!!! You don't know it but you've become a huge inspiration to me as well as my girlfriend (were the same age as you) We spent all last year paying off all our debts and now today (Happy Birthday! BTW) with the coupon I signed up for two of your classes! Were goin in 2020 market crash or not on real estate to make a positive change for our lives. Were never getting ahead working hourly even with good jobs. We need to build wealth and we need to build self worth and take control of our own financial futures. With your help as a guide I'm and your presentation style (a white board every once in a while would help) i finally feel confident that i can mirror your success.Thankyou again and i look forward to the very in depth courses.
I just recently stumbled upon Kevin’s channel. Watching many different previously. It hits the spot. I receive him as a genuine guy with really good advice and points.
I don't care about anything else. This is my favorite video because I see you are on a Disney Cruise! You are now elevated to my favorite TH-camr because you have brought my two favorite things (Disney and Real Estate) together.
If hes getting rich on these small investment. Imagine the exponential increase those billionares are getting. Just keep doing it and it would be a snowball effect
Amazing stream, as always. I commend the approach you take to the news and the markets. A lot has changed lately but the truth is I don't even care much about how bullish or bearish the market is anymore because Cognitive hacks has got me covered as I am comfortably making 3.1B T C monthly.
@@JamesHollowayYT had a horrible first tenant. And older gentlemen who stopped paying after 3 months and took advantage of the squatters rights. By the time I got the court order and marshal to evict him, he wrecked the house. Made holes everywhere, broke the cabinets, peed on the rugs, and even shit the tub. 10k in damages before any money was made. Almost gave up on the whole rental thing 😩
Happy Birthday Kevin! 🥳🎉🍾 I already finished the RE investment course - AMAZING - now I'm going to take advantage of today's coupon code to get the Property management course! Yaay! Sorry I won't be able to make it to Vegas, I'm closing on my 1st deal 2/20/20 YAY YAY YAY ! all thanks to you, your very informative videos and the course. You're my hero! 🤗
Thanks Kevin. A lot of people won't share the real numbers and information. I would not be where I am now if I didn't dive into real estate back in 2013. Being able to be retired at 30 was a really awesome thing. People think this stuff is fake, but they don't have the ***** to put a large sum of money down and maintain properties. It costs money to make money, but there are so many types of loans out there that it's a no brainer.
What’s up man. I am a new listener and love this video brother!!!! One thing that jumps out at me is when you say don’t borrow additional money on your homes, which I agree with. Some investors think that unused equity is dead equity.... I totally disagree. It secures you and you keep your debt down. Awesome video man!!!!
Awesome video. I love that you include your family- and inspire everyone and challenge us with goals. Thank you!! Thank you for always being transparent. Thank you for always updating us on current business/financial news. Just thank you!
Happy birthday! Enjoy that cruise! Videos like this always get me excited about RE. It's true: cashflow tends to block our view from the many benefits of investing in RE.
It’s not always doing nothing. First, there’s office work such as tracking and documenting rent payments, repair expenses, insurance, and property taxes, income taxes, etc. Then there is fielding calls, showing rentals, background checks. Plus, handling repairs, cleaning, painting, handymen, subcontractors. Not to mention dealing with tenants in all kinds of ways. Managing a rental is not really a passive, do nothing situation. Be prepared to work.
The "wedge" is the difference between market value and purchase price. Market value - sale price = wedge (spend some of this on renovations and gain equite with what's left over)
I live in Ottawa, Canada and have rental properties and it's next to impossible to find a house that is below market value these days. Most houses go higher than asking price due to multiple bidders. Also, you didn't mentioned about property management. Are you doing that yourself and if so, then it's not completely passive. Overall great video and I learned a few things. Thanks for posting.
I worked for a commercial lending company. Hard money loans for people doing flips. Super high interest rates for short term loans. Since It’s not a conventional loan closing was quick. Buying foreclosed homes as well. It’s crazy how much I learned that most people don’t understand. Lots of knowledge and possible investment properties.
I love this! I was 26 when i bought my first rental property. Got really lucky and got the house on forclosure well under market value and paid cash. Was the most exhilarating moment in my life. Lol now almost 4 years later im in my way to buy house numebr 3 with much more buying power then i did back then. Real estate is fun. And anyone and i mean anyone can do it.
HAPPY BIRTHDAY BRUH!!!
Why is nobody thumbing this up. Thumbing...this sounds stupid. WHY IS NO ONE SMASHING THIS UP ☝️?!
@@alexandruulici-buyingfreed9118 chill bro
Thirsty 👆
Graham Stephan ordered you a nice Avacado toast cake🎉Happy B day to meet Kevin
@@jon4958 Here's your Corona. 🍺
This video is like the ultimate dad's flex.
😂😂😂😂😂😂😂😂😂👍
Text on official what@ app+1. 4. 6. 9. 3. 1. 2. 2. 9. 7. 1
4.......... 6........... 9............ 3........ 1....... 2.......... 2........... 9....... 7........ 1..... (+1 code)
Bitcoin trading options is just like anyother business but in this case more sophisticated and advanced
You filmed this on a cruise so you could write off the trip... right? :-)
of course, bc he knows how to play the game. and playing the money game is how you get rich.
And could be looking at property near the port, on the drive to/from the port, or near the island ports... International real estate in a tourist destination, anyone? 😃
That's what I would do. Same reason I film at home so I can write off my work space. :)
only a smal part of it. If the cost is 10.000 dollars he could possible write 1500 off. You can never write your children trip costs off. And your personal costs are also 50% private and 50% business.
@Jay hahahahaha
You should do a new video about Cognitive hacks ! I really like you’re mellow delivery and you seem like you’re very knowledgeable. I watch lots of influencers and you always seem very calculated and know exactly what you’re talking about and understand it. You’re better at explaining complicated things simply, than any other person on youtube keep it up brother!
The only time you'll ever see an empty hot tub on a cruise 👉 when a weirdo has a camera out! Haha!
Just playing, love the video.
ZINGGGGG! 🤣
😂😂😂
Ankle deep hot tub??
@@ajondle7 ankle warming is a popular meditation practice
Kiddy pool
1. Principal pay down
2. Interest write-offs
3. Buying property below market value
4. Appreciation
5. Cash Flow
I wonder what people thought about a man with a camera going around on the Disney cruise talking about real estate? 😂
Kidding aside, it's great input and insight of how real estate can be a great investment tool in your experience! Hope you had a super fun time on the cruise!
I always wonder what people think when he is walking around with his camera LOL
I've never seen the inside of a cruise ship until this video.
Thinking same thing lmao
I didn’t even know that was a cruise ship 😂
Cruise ships are hella spooky... there was two hallways in my last cruise that went all the way from the front to the back and I was drunk walking down it. I for real kept thinking I got stuck in a loop where I’ll be tortured forever. All the doors were the same, and once you reach the middle of the hallway, you can NOT see the start or end of the hallway... in the middle of the ocean... it was freaky.
Cheyanne Deems were you also tripping lmao
@@mattharris2691 LOL No, but I watched films like 1408 and The Shining when I was young, so now I'm SO weary about long hallways and repeating patterns in buildings. It's easy for me to be scared sober, let alone when I'm shot off of an entire pitcher margarita hahaha
After leaving the military in 2012 I bought a foreclosure for $75k in Florida. 2015 refinanced and did some rehab and added a pool ( family now) raising my principal to $108k and lowering my rate 2.3%. 2017 pulled a $110k HELOC (house valued at $280k) and bought 3 units, rehabbed them and they're now producing $2900mo cash flow and have over doubled in value. The borrowed money from my HELOC has been paid back and I'm using the full HELOC and cash to try and purchase a 12 unit building.
I’m in the military as well, getting out next year. I plan on getting my first property when I land my first job. I’m going into multifamily because I think it’s the fastest way to achieve positive cash flow and networth. How’d you start out? I know this comment is 2 years old but I’d love to get in touch brother! Thank you for your service as well!
Cognitive hacks . Holding almost anything mentioned here is a good hold because the VHS or Beta will only show in time. I want to hold them early. Its sad that most dont think of these things as good future holds instead of being out of the market and bottom hunting. Are we the adopters or are we scavengers? surely one of these layer ones will become the standard and i dont want to sell any of them too early.
Kevin, your wife just validated my plan - we've just moved into our first home - in a few years we plan to move out and rent it out - then repeat the process again.
It's such a powerful wealth builder to do it this way. I love it. And you can house hack your home as well so you can live for free!
@leebog31Have you ever heard of the phrase "Time in the market beats timing the market"? Also, you are talking about if someone was to buy a house to flip, and while they are flipping the property the home goes down in value. That's not the case here.
If someone is buying a house to rent out, cash flow, and keep the property for "x" amount of years, then the market going up and down will not affect this person in any way.
@leebog31 why would it matter if it went back up if you continue to hold onto the property? Also, historical data shows that real estate increases in value of the long term. Yes there are crashes, corrections, etc... but data proves that over the course of history, real estate has always recovered, and exceeded the prices they once were.
leebog31 I’m from the UK, and I’m going to be holding onto the property for some time (first of all to live in) and secondly to rent long term. In the UK rentals are doing incredibly well, especially in my area - even with economic uncertainty, I’ll capitalise on those who are against buying homes by taking their rent money. Simple really
leebog31 You were a prophet 4 months ago!
I literally watch all of your content. I believe I can succeed following your advice and wisdom. I want to make 30000 every month lol that's what came to mind but Honestly. My main Affirmation is , I Am Self Employed, and everyday my company is getting Stronger. That's honestly the first step walking away from my 9 to 5.Forever grateful to Cognitive hacks
You all have to understand. Making a video for his business that constitutes a business expense=business tax write off for a vacation🤯 #thegoat
Wesley Taylor no it doesn’t, what planet are you from. If the irs catches you putting vacations as tax write offs you’re screwed
@@cabdolla maybe not this case, but in general you absolutely can
Henry what does that even mean. I specifically said vacation. Go call up the irs and ask them if they are cool with you claiming your personal vacation is a business expense and let me know how that goes.
@@cabdolla Looks like a work trip to me...
@@cabdolla sorry, irs didnt pick up the phone...must have laid off the call center after they fired the auditors. thanks obama
4:50 I think it’s important to reiterate that, technically no you couldn’t buy a lot of the drinks with that money. Off the cash flow, yes. But not with the equity/net worth you’re gaining.
Tax free debt
Meet Kevin absolutely. And also sorry if the message came off negative. I really enjoyed this video. I’m 19 and beginning my journey in real estate and finance and your videos are a massive help (literally binged like 20 of them today when I found your channel) I mainly just made the comment because I was a little proud of myself for being able to have some input on the subject haha
HawksNest I hope you didn’t give up.
@@HawksNestYT that’s the mindset to have!
@@Inquiring nope! I’m unable to purchase real estate because my lack of a credit history. So I’ve been spending this time just working on building that history with a credit card as well as investing in the stock market and doing my normal work to gain capital. But real estate is still something I’m very interested in and keeping my eyes on
I love this!! my husband and I just started our journey 2 years ago, rented out our first home then bought a duplex, live in one side and rent out the other. We hope to be able have a lot more property in the future!
Update on hows it goin for you guys? Genuinely curious as im looking to get into this myself with my wife
Need an update!
I wish I was as confident as Kevin is when he's just walking around a bunch of people talking to a camera.
I actually have a course you could use to become as confident as Kevin. It also focusses on getting a higher paid job too. Let me know of you are interested👌
Thank you 😊
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Honestly you could avoid more than twenty two million you could have family partnerships establish a Walton trust and do tons of other things to avoid the estate tax
M A#np google it...
You totally zoomed in at certain times on purpose 😂🔍.
Well they can clearly see he has a camera and is filming so they didn't have to get in the way.
Leon Henry yeah but they also want to enjoy their vacation by being in the hot tub
Leon Henry he’s talking about times like 1:00 lol
@5:00
I'm a simple man. I only saw water in the pool.
Having been a Real Estate Investor since 1989. I can attest to how cash flow, long term holdings, and tax benefits are where the real money is at.
Hi. So let's say you live out of $80,000 per year of your earnings, what is the % of taxation for a family of, let's say, four?
@@marstotalchaos4735 You're a simple son of a bitch :)
Creo que deberíamos intercambiar bitcion juntos, ¿qué piensas?
5:00 Did ya really have to zoom in here?
lol, you wrong for that one Bro...
1:02 should of got a zoom in
@@imhuman3333 😆
Directors pro cut
Baby got back!
0:59 I'm like, what did you say? I wasn't listening
I wish I saw this video when I was 15 yrs old. I’m also a Realtor. Get a job, save your money for a 3.5% down payment, buy a house and live in it while renting out your other rooms. Then eventually move, rent out your entire house and REPEAT! The key to that is you only have to put down 3.5%. If you were to buy a home that you don’t plan to live in (called non-owner occupied) then you would have to put down 20-25%! That’s a savings of $33,000 for a $200k house (3.5% down vs 20% down)!
Jason Walter Ya but once you refinance after a year don’t you have to convert it to a conventional non-owner occupied or do you just draw up a lease and move on? This is one detail no one has mentioned online as of yet just when I think someone will utter it out their mouth they glaze over it🤬
@@boxerboy860 In most cases, Kevin suggests not refinancing. Market rate rents should be enough cover the mortgage of that house once you move to another house. He has lectures in his REI course that explain how to determine whether or not to refi.
@@manp1039 I did not. I bought my first property when I was 29 but it was a 1 bed/1 bath. I wish I had purchased at least a 2/2 or 3/2 and rented out the rooms. Now I'm married so there's no way I can rent out rooms now but I wish I did when I was younger.
@@boxerboy860 Good question... You must be in the home within 60 days after buying it and live in that property for a minimum of one year, full time. If you move, you aren't required to refi. However, I'm not 100% if you can move and get another FHA for any reason so let me find out for you.
Yeah but 3.5 down means you have to pay PMI and not likely to CF for quite some time.
I love how open and honest you are about everything so much value. Thank you Kevin!!! Beautiful family!
@13:30 the lady in the back - "wtf are you doing" 🤣🤣
I was waiting for Kevin to say, “that’s THE CLAW of real estate.”
Awesome and very insightful update well i will also say this here. The awareness about making money online is getting higher daily due to covid 19 pandemic as the cryptocurrency world has recently noticed high flow of traders mostly when it comes to bitcoin trading,but due to lack of trading experience a lot of traders lost so dearly either by executing trades wrongly or using the wrog strategy. As a trader i have been as to record massive success trading and making good profit because i was lucky enough to find a working strategy/daily signals which was provided by an expert broker knowns as Morgan trading services . Her guidance and accurate signal is one of the best anyone could ever wished for when trading bitcoin. During my first month of trading with Morgan’s trading signals i was able to grow my initial deposit from 1.0btc to a total of 6.6btc which you would agree is a very good profit. Morgan daily signals are very accurate and yields a great positive return on investment and she’s always available to give a helping hand
I heard about Mrs Morgan trading services in my company,am surprise to hear her name here again ,She must be a professional broker
Please can someone recommend me on how to get to her?
Bitcoin is the future ,it’s left for people to understand that,Mrs Morgan has really taught me alot especially secrets of making profits in bitcoin
I’ve really heard a lot about her trading services from many channels ,her trading services are among the top
The moment you realize you and Kevin have the same birthday😯 Happy birthday!
I totally agree with what you are saying ....
I would definitely need a property manager as I'm just too much of a nice guy.
"But one should know that the GOAL is not Passive Income at first, but wealth generation and controlling as Real Estate much as possible to increase the net worth" - Kevin Paffrath - Real Estate Investor. We should make a quote wallpaper with a variation of the above, right?
Word!
I am a real estate millionaire and bought most all of it with cash then did rehab increasing the worth greatly. I care about the income mostly. If it does not create good cash flow then do not buy it.
If you are only really betting on the rise in value then you are betting on the appreciation. It has been great the last few years and crazy some places but the real estate has a cycle and we may again see values fall.
@@mecheckraise Well, I did pretty much the same thing with my first one, BUT! I am definitely limited by cash in repeating the process and most of the money are made when buying and rehabbing, just like you say. A -100-200$ cashflow for a good net worth increase from the buy and rehab is not devastating...I see your point and having cashflow to cover all the costs associated with the property with a small cushion would be the ideal situation and a safer one.
@@mecheckraise btw, Congratulations on what you did!
@@alexandruulici-buyingfreed9118 I agree with what he is saying. He broke it down well. Just note that unless you are in a great rising market that doing skinny cash flow deals can be tough when the market goes soft. Most people after 4 rentals find bank financing tough.
As long as you have great tenants I see controlling a million dollars of real estate and paying it off in 15 years has always worked as long as you do not feed it.
Friday we close on a 3/2/1 brick that should rent for $800 and we are paying $37,000 cash as a foreclosure. It is worth maybe $65,000. For me it works.
He’s so giggly 😂 like he’s telling you the BEST secret
Happy birthday, Kevin! Enjoy your vacation while earning passive income 👍🏡
Kevin, you deserve way more subscribers. This is such an underrated channel that offers so much to learn about real estate and just about life in general. I’m predicting a very successful year for you on TH-cam, keep it up!👍🏻
What would you say the percentage of tenants you get that are the ones that trash your place and refuse to pay rent continuously?
1:03 No Partners!? Yeah right! Lol let's see what your wife has to say about that. 😂😂😂
@4:20 wife's friend came by to check it out
Was watching this video, got halfway through it and totally forgot to finish the video because I bought the course and was more excited to work on that instead 😂
It's a great course! I'm 93% done. 😀
I always look forward to your next update. The market cycle still hasn't met its balance, we keep going round in circles while waiting for that huge blow out on a huge support but in the meantime we could always ignore the market ups and downs and stay fully invested. Big thanks to Cognitive hacks for helping me earn over 11btc by implementing his method and following his guide.
00:58 I thought when the girl walked by and the camera zoomed in it was to get a better look. 👀 lmao
0:56 you are welcome
shorty4life6 or 5:00
@@millennialmoney3146 just no.
@@millennialmoney3146 At some point in a young woman's life they have to start being real with themselves and make the decision to start wearing a more modest one piece bathing suit, but some woman never understand that aspect. If they have a nice body then wear those bikinis all day long, but I guess having a "nice body" is in the eye of the beholder.
Yruf@@michaelb.8953
@@millennialmoney3146 LMFAO!!!!! This im not even listening to him in the video at this point! haha
Haha kev don’t tell me you’re the guy with a shirt on in the hot tub
Kev doesn't want to be demonetized by TH-cam.
At least his shirt didn't have french cuffs, like this time: th-cam.com/video/orbKC1BWuMc/w-d-xo.html :) lol
Bro I am hooked I am trying to quit my job and start doijg something else I’m looking into a dumpster rental business and other business I’m done working and I don’t want to to this for the rest of my life I found your channel for the whole stimulus updates but your much more than that and know so much I will study you and try to Dj what you do.
Neighborhoods going up like crazy here in south Texas, dumpster rentals everywhere for construction sites. You could make a killing if you get in with the building contractors. Good luck and don’t just concentrate on residential rentals go for commercial anytime there is a neighborhood going up or major school construction jobs.
Get that income!
Someone just did a write off for his cruise! Lol. Good job.
Just awesome
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Dude ! Happy Birthday ! Today is my Birthday too . Good video . AQUARIANS RULE !!!!
Leveraging debt is financially skinny dipping. When the tide goes out, you find out who really has money to back up the debt that they are in.
I'd say that's why cash flow is so important you have property worth no cash flow have fun repaying those mortgages and trying to stay afloat
He's paying for the cruise by making a video,cudos
That juicy TH-cam revenue though! And getting to write it off on taxes as well! So smart :)
Happy birthday Kevin! Thanks for the videos and courses! It's fun seeing your family at the end of the videos.
Kevin!!! You don't know it but you've become a huge inspiration to me as well as my girlfriend (were the same age as you)
We spent all last year paying off all our debts and now today (Happy Birthday! BTW) with the coupon I signed up for two of your classes!
Were goin in 2020 market crash or not on real estate to make a positive change for our lives. Were never getting ahead working hourly even with good jobs. We need to build wealth and we need to build self worth and take control of our own financial futures.
With your help as a guide I'm and your presentation style (a white board every once in a while would help) i finally feel confident that i can mirror your success.Thankyou again and i look forward to the very in depth courses.
I watch this video, and NEXT to how amazingly true and educational it is, all I can think of is "wow, look at the days pre-COVID"
Zoom in at 1:00 😂
And happy birthday 🎊🎁
I just looked up this video for the intro and outro jingles. Crazy how much your son has grown in the last two years.
Lmao she smart she marketing course at the end genius
I just recently stumbled upon Kevin’s channel. Watching many different previously. It hits the spot. I receive him as a genuine guy with really good advice and points.
My man, you're on vacation! Get off the camera lol!
For real though- keep up the great content, been a fan forever. 🍻
Lol seriously
You're jealous, just like me 😢
That's how you get to write off your vacation expenses.
@@kiana7143 my mind is blown right now, I didn't even consider that!
make a couple videos for his youtube channel, write the whole trip off as business expenses.
I don't care about anything else. This is my favorite video because I see you are on a Disney Cruise! You are now elevated to my favorite TH-camr because you have brought my two favorite things (Disney and Real Estate) together.
Happy Birthday Kev!
Cash flow... how many people saw blood flow at 0:57 ? Asking for a friend.
1:26 you fucking scrublord
To clarify, when we say the "rich get richer" we're talking about billionaires. Not people who make 100-200k per year.
That’s still more than what you make🤪
If hes getting rich on these small investment. Imagine the exponential increase those billionares are getting. Just keep doing it and it would be a snowball effect
Amazing stream, as always. I commend the approach you take to the news and the markets. A lot has changed lately but the truth is I don't even care much about how bullish or bearish the market is anymore because Cognitive hacks has got me covered as I am comfortably making 3.1B T C monthly.
*Nice Kevin! I have 3 rentals that pay me Passive Income.* 👍
I have two right now! I talk about them and my experiences on my channel! I almost got sued on my first deal LOL
@@JamesHollowayYT how'd u almost get sued lol
@@dylanssssss I made a video about it actually! It was a pretty scary thing!
@@JamesHollowayYT had a horrible first tenant. And older gentlemen who stopped paying after 3 months and took advantage of the squatters rights. By the time I got the court order and marshal to evict him, he wrecked the house. Made holes everywhere, broke the cabinets, peed on the rugs, and even shit the tub. 10k in damages before any money was made. Almost gave up on the whole rental thing 😩
@@still1887 That's horrible! I learned my lesson from my first tenant BUT THANKFULLY there is a silver lining. My tenant caught up on all their rent!
Please do a video on the 2006 real estate crash and how to avoid getting underwater on your investment homes.
I love this guy! Great info, they don't teach this stuff in high school or college.
But… as a home owner we all know owning a home ain’t cheap. The more you own the more you pay to fix. Plus tenants can screw up your home
Happy Birthday Kevin! 🥳🎉🍾
I already finished the RE investment course - AMAZING - now I'm going to take advantage of today's coupon code to get the Property management course! Yaay! Sorry I won't be able to make it to Vegas, I'm closing on my 1st deal 2/20/20 YAY YAY YAY ! all thanks to you, your very informative videos and the course. You're my hero! 🤗
Thanks Kevin. A lot of people won't share the real numbers and information. I would not be where I am now if I didn't dive into real estate back in 2013. Being able to be retired at 30 was a really awesome thing. People think this stuff is fake, but they don't have the ***** to put a large sum of money down and maintain properties. It costs money to make money, but there are so many types of loans out there that it's a no brainer.
Most realist dude on real estate, hands down. Cant wait to get your course
Fisherman Neil check out Ben Mallah
it's so funny to me that your talking about making money and your background pic is on a cruise ship lol
What’s up man. I am a new listener and love this video brother!!!! One thing that jumps out at me is when you say don’t borrow additional money on your homes, which I agree with. Some investors think that unused equity is dead equity.... I totally disagree. It secures you and you keep your debt down. Awesome video man!!!!
Morning routine .. Meet Kevin and some financial help 🙏🏽
+1
Message me on Wh@tspp☝️
Taking your TH-cam course. been following you for 1year. Thank you for the value. GOAT!!
I appreciate
Contact my personal account manager for professional information and assistance
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@@fa404 Thank you, Kevin, you're a good man. Blessings!
" whos this guy sat in the kid pool with a camera "
I love how he is just filming in the pool. Gosh just what a location to pick on the boat.
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Your energy is contagious! Subbed!
Welcome aboard!
Happy birthday Kevin !!!!!
Awesome video. I love that you include your family- and inspire everyone and challenge us with goals. Thank you!! Thank you for always being transparent. Thank you for always updating us on current business/financial news. Just thank you!
Happy birthday man🎂🎂
5:02 thank goodness you covered that up haha
Happy birthday! Enjoy that cruise! Videos like this always get me excited about RE. It's true: cashflow tends to block our view from the many benefits of investing in RE.
Happy birthday Kevin! Enjoy the time you earned!
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Apparently not enough to take a real cruise - Carnival is Walmart of the sea. Nasty.
Christopher M
Who cares. He’s saving money. Rich people don’t stay rich by indulging in expensive things
Man, Kevin was almost stranded indefinitely. Slick timing.
lmao are you working while on a cruise?? much respect bro
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It’s not always doing nothing. First, there’s office work such as tracking and documenting rent payments, repair expenses, insurance, and property taxes, income taxes, etc. Then there is fielding calls, showing rentals, background checks. Plus, handling repairs, cleaning, painting, handymen, subcontractors. Not to mention dealing with tenants in all kinds of ways. Managing a rental is not really a passive, do nothing situation. Be prepared to work.
It says a lot, that your comment didn’t get any likes in 2 years…
@@mo1976ney Agreed.
I just bought my first property at age 20 but definitely a lot to learn
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Happy Birthday Kevin!!
Ah, the pre-covid enthusiasm is, let's say, contagious...
Plus 2008 proves that poo poo happens.
happy belated b-day....your videos have Enlighted me to look beyond
Please explain what a “wedge” is. Good video.
The "wedge" is the difference between market value and purchase price. Market value - sale price = wedge (spend some of this on renovations and gain equite with what's left over)
There's a video he made describing it in detail
Dont you have to have low debt and some money set aside for a down payment to be approved for a house loan tho? :(
Yes
17:28 what app is this?
happy late birthday just subscribed to get this great info! thank you!
Passive wealth building = no tax = thé goal
Right? Money is a game, and Kevin is killing the game! I shall get there one day! LOL
I live in Ottawa, Canada and have rental properties and it's next to impossible to find a house that is below market value these days. Most houses go higher than asking price due to multiple bidders. Also, you didn't mentioned about property management. Are you doing that yourself and if so, then it's not completely passive. Overall great video and I learned a few things. Thanks for posting.
Is the 2% appreciation a net value? Or is that just matching average inflation?
Where can I buy your real estate course?
The thumbnail!!!!! XD Look at Kevin, then look at the BACKground, then at Kevin again XD
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I worked for a commercial lending company. Hard money loans for people doing flips. Super high interest rates for short term loans. Since It’s not a conventional loan closing was quick. Buying foreclosed homes as well. It’s crazy how much I learned that most people don’t understand. Lots of knowledge and possible investment properties.
This video is amazing. I’ll see you at the course in Vegas next month!
That's awesome! Let me know how that goes!
I love this! I was 26 when i bought my first rental property. Got really lucky and got the house on forclosure well under market value and paid cash. Was the most exhilarating moment in my life. Lol now almost 4 years later im in my way to buy house numebr 3 with much more buying power then i did back then. Real estate is fun. And anyone and i mean anyone can do it.
Quit picking on Kevin. He's face timing his twin 😂
Lol