How This Real Estate Investor Went From 1 to 37 Rental Property Units in Less Than 1.5 Years!
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- เผยแพร่เมื่อ 24 ก.ค. 2020
- In this episode of Meet The Investor, Alexander Felice brings us an amazing real estate investing story of this investor who scaled from 1 rental property to 37 in less than a 1.5 years!
This story is amazing, inspiring, and filled with tips to help you do just the same.
This investor used private money and bank money to fund his real estate deals by presenting it the right way, finding a mentor, and pure hustle and knowledge to scale!
www.biggerpockets.com
How much was the cash flow? Off market deal? What’s the investment and profit split between you and father in law? How much were the units? I don’t think I learned anything...
Hayden Hsu yes I feel like more information would have been useful.. debt-paid ratio interest rates cost of everything ROI average NOI
Yes! Details please. Generalized motivational speech isn't it. Thanks!
@@amberboll Message me on BP. I can explain all the details. Its hard to pack in a years worth of info in 10 min. But for those who just want to read it here, cash flow per door is average 350$ per door in my pocket after expenses. Average 22% COC. All of them are off market deals and I give my father in law 10% interest on the money I borrow. I also use a second private money lender that I had met that has no relation to me.
@@silverlininghomesllc507 Make another video and thanks for responding!
Thanks for that! Appreciate the response. Keep at it!! Amazing work!
I dont like when people say "I wouldnt be where I was now" without first explaining where they are now. Like I get you have 37 units but whats your equity, what of it do you actually own, whats the monthly cash flow or your net worth or an actual metric like that. Like Brandon can say "i have a hundred units" but each unit is like a 10k trailer pad that he bought with other peoples money.
Its true, I was kinda nervous and forgot a few things in there. Its hard to squeeze in a years worth of information in 10 min. Im between the 2% - 2.5% rule with average of 22% COC return.
@@silverlininghomesllc507 I would love to connect and learn more about your story. What's the best way to connect?
@Silver Lining Homes, LLC thanks for the video!!! One question though, how did you go about presenting the opportunity to individuals like your FIL?
@@silverlininghomesllc507 how did you find the portfolios?
Pretty much what I thougt. He says that he used his stepfather 400k money while he had nothing. It seems like he own only a fraction of its 37 units and its mostly all dept.
Why are all your units vacant?
Bingo!!! 🤷🏾♂️
Those 2 were on the market for 2 days. They are filled now. I should have stated that in the video.
sunonupe you wanted to hate so bad. You wished he wasn’t as successful as he seemed. Makes you feel better about yourself. Get out of that mindset.
@@sunonupe god damnit, someone is still more successful than you, oh well go find someone else to "Bingo"
Another great story told by Alex! Showing the power of people that set their minds to achieving their goals in Real Estate!
How did he go from 1 to 37 in that short time thought that was the main point.....
You can message my administrator for assistance on W/H/A/S/A/P
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I was looking for someone who can show me how to make money without finding father in law money. Most of the real estate guys made money using someone else money. Show me how you’ll make money by your own.
I would love to help you just send me a message!
look up business credit without personal guarantee. it takes a year to get a good dun score but if you pay the down payment on a rental, and get a tenant in the first month or two, you use the rent to pay the minimum and mortgage. make sure you buy a property where you can fix up the place fairly quick so you can refinance and get equity out so you can pay off the business credit and use the rest for the next down payment then basically repeat in simple terms how you can do it with no money
Lorenzo Tillman III. Thanks. But at least you need a good down payment money. Also it depends on your credit, Job history and other things as well
@@lorenzotillmaniii4273 Is this the BRRR method?
@@saifuldetroit if you dont have money you cant do it with your own money, plain and simple. obviously even if you had your own money you should still go to the bank to increase ROI. finding investors is also what you need to look for, in this case it was his father in law (who for some reason was willing to put up his retirement fund...) so this guy definitely got it a lot easier than most, but go find your "father in law" whos willing to work out a deal with you, and like lorenzo said, try to take the investors money out of the deal ASAP, once youre able to fund your own projects build your own equity and refinance and use it to fund your next project, rinse and repeat. building a real estate portfolio wont be easy, youll be working two full time jobs at once
This video has too much fluff. I was hoping more details on the “how” but it’s was very generic info.
it always is. whyd he bother taking all that time to show us two properties just to tell us theyre pretty much the same? I guess this is all free info but if youre gonna take the time to make a youtube video like this why not sit down and try to make it good?
Ok I thought I was the only one 🤔😑
I thought it would be more in depth. Like how much money did you start off with? How much was each (averagely) property worth? Thanks
You're straight forward, you're a real dude (not some fluffy guru), you're real, and genuine. I'm super happy I found this video, it was a nice reminder and re-inspiration for why I want to get into real estate. investing. Definitely helped keep that spark alive. Thank you sir.
sometimes its spark, others a bright light, and most there's no light at all. the ability to walk that never-ending path without needing to rely on a spark is called discipline. inspiration and motivation are temporary. like you said: "re-inspiration". that alone says that you were starting to lose it. Discipline is not long term. it's a decision you take every day to stay committed to achieving your goals, even when that spark is dead. relying on discipline is better because you can decide to keep it alive.
Not to sound rude but....37 units in 1.5 years with hardly any money?? 🤔 I have a ton of questions.... Like 1. How much were these properties? 2. Where are these properties? 3. How much debt are you in? 4. How many different lenders do you owe? At the start of the video you said you were $35k in debt...are these 100% funded by other people? Do you make a killing in your full time job? I feel like these important details were left out of this video. I typically like bigger pockets, I was just a little taken back by this one.
He basically had a father-in-law with money who funded everything
Love that you had such a great experience finding and working with a mentor. I am mentoring people in the application of my system. It's a little different and not so much focused on as many units as possible, but the benefits of mentoring are obvious. Keep going. You will reach financial independence and soon have the freedom to live your best life with passion
Great content! Thanks for sharing!
Highly impressed .God bless you.
9⁹I
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Thank you for a concise summary of starting and growing your business.
Great story. Thanks for sharing. Any tips on where you found renters?
Cool content! Thank you for sharing 🙌
Awesome! That’s definitely my goal and I’m going to make it happen
Very inspiring, but as others have said, need more details. Perhaps BP can give this guy a 2nd 10 minute slot, to go into the figures more?
This is awesome Alex!! Thanks for sharing
I am a real estate investor. But why don't people talk about diversification of income. I'm a successful Real Estate investor, but I have other successful investments which yields me good profits.
I invest in forex trading and it has been paying me well for the last six months now. I make up to $25, 000 every month in forex trading.
I was also looking up some videos on TH-cam too when I started. But I was l advised to contact an expert broker which I did. I guess I was lucky to get in contact with Alexia Clayton, my expert broker.
She is the one behind my success in forex trading. She has a platform where she trades for her clients. So all I get to do is invest with her while she trades for me. Then at the end of my trading period she pays me my profits.
And she has a commission of 25 %.
Yes, she trades for anyone who is willing to trade with her.
You can contact Alexia Clayton through her mail address ;; claytonstrade (åt) g m a i l°c o m .....
6:25 I am impressed with this thinking!!!
I'm just trying to go from 1 to 2 properties stuck there I have the 20 percent for the second property but I think everything is overvalued here in ca, I'm blown away how he accomplished this, for once I would love to see someone explain the actual process with financing a rental property and numbers explained
Try a more affordable market.
Amazing video, inspirational!!! I'm at 3 houses now, and this just pumped me up to keep going. Love BP and its whole community.
How much of a struggle was it to get the first?
@@cheyennew811 getting the first house just took a lot of time saving money. Then finding a home while I am overseas was harder, but I ended up using a service called Home Union. Hope this helps.
Thank you, I will into them. I'm still trying to find the first. I see houses that I think I can afford, but am still trying to understand all the financial issues so I don't get in over my head.
@@cheyennew811 My best advice, prepare for the unexpected and have 6+ months of reserves (mortgage, interest, insurance, repair money). If you're not aware, its never just 20% down. It's 20% down, plus closing costs, plus rehab money (typically $2,500 - $5,000) in my case. Your experience may vary.
That's the most straight forward advice I have gotten so far. Thank you so much!
Just started reading last week. Wow. Can’t wait to learn more and find the right deal
Great vlog 🙌🏼This guy was very inspirational ❤️👍🏼👌💰I killed the 👍🏼Button for your cash flow 💵
"success is made of multiple failure strung together" - this is great!
Wow really impressive! Question for you ... how much cash did you have to invest at the beginning... and latter on after tour first investment.. how you get more money to finance your others projects?
Wow this is absolutely insane!!! So great to hear!!!
Tips from experienced people always count. Thank you for the video shared.
I love this format to learn elastic examples of REI
True. I am the same person as Alex.
Im in IT and have no motivation at work however once i bought a few properties, my mood change. I became focus to gain passive income.
Its addicting lol
Give this guy props for not just laying around playing with a computer. I’m seconds away from chucking my computer out the window and I own rentals lol
Great job!!!!
It took me 6 years to get to 15 units, but I don’t use private money.
Amen...did you use brrr method woth your own money?
How
This is much more realistic.
Find a mentor, then talk to a contractor to look for a estimate of project plan, materials lists, and labor costs to remodel a house, then go back to mentor with data then pitch in ur plan and now u share the contractor and get a learning experience with the mentor?
Getting money by bank and private money to fund urself
What i see is
use hard/tough flooring that hard to break
durable table top
This is great but HOW is the question I have. Do you just keep saving till you have the down payment and buy something then repeat? Is there a faster way to do it?
Once you have a property to lend off of, you have access to a few options to increase your acquisition speed. You could do a cash out refinance, creating a new mortgage on your first investment property for money towards a new down payment. A very effective strategy is the BRRRR method, which BiggerPockets covers in detail. You could always reach out to private money lenders with an excellent deal, and they may be willing to fund some or all of the deal for a return on their investment.
What forms of resources did you use to obtain the properties ? How much money did you use ?
I am truly impressed with what he is saying.I actually started out earlier this year of 2020 on this real estate Adventure and with the 401 it's very tricky because I have it with a large rail Transportation agency and I have a large amount of money in there and I cannot use any of that money because the company that I work for have restrictions on what you can invest in so some 401k you have to figure out what they will allow you to invest in or take out just a little FYI.
just an FYI trump signed a bill for you to use your 401K up to 100k with no penalties YES!!!!!
2 units down, one closing this friday. I need to learn to keep my places and quit flipping them! 🤦♂️
here in canada you get completely fucked by taxes if you flip, gotta put at least one tenant in it, and even then we dont have 1031 so still a lot of taxes, america seems to have it figured out...might have to move
@@justinc2633 Come on down, man. I'll hook you up. 😅
I need a wife that has father in law money. Kudos to you.
thank you!
Maaaaan. You’re an inspiration. Thanks for sharing.
Thank you for this video
Good for you man! Awesome!
Why are these 2 units sitting empty? Shouldn't they be rented out, unless the renos have literally just completed?
Ok does this Josh guy have his OWN TH-cam channel for me to binge? K THANKS!
How did you structure a deal with private money as a down payment and bank money for the rest? Does the private money have equity in the property or is it a loan like 5yrs?
Really appreciate this video
Great video Josh.
You know you got a good landlord when he pull up wearing yeezys
Like you put the window shutters there. That make the building look prettier and may increase the rent.
And keep the kitchen etc the same, smart move!
27 rental units or 37 rental units?
yes
@@Kenny-ly6kk LOL
Watch the video... the owner himself says 37.
Portfolio grew so fast from 27 to 37 while we we watching this. His wife is killing it!
This video was full of fluff. Get money, create a repeatable system, network, start now. There I summarized it for you.
Dag your music intro ..just got me wanting to listen to you... I love your beat I love your information.. Thank u
Everyone that do these videos about rentals make it sound easy lol. Im 35 and i have my Small house paid off and have 3 rentals paid off my bussiness partner is my brother and let me tell you something flipping and renting properties is very hard And you really want to make money you nees to be willing to do atleast 70% of the labor yourself and thats how we make money weve been doing it for atleaat 10yrs and we also have our fulltime jobs. People be careful when you buu properties you could lose everything on a bad deal
Great stuff
Hi thanks for the message. But I don’t know how to message you on BC.
Thank you Josh
"The subfloor was so bad I didn't know what I was gonna do.... so I just filled it with drywall mud and threw the planks down."
Good stuff, Alex :)
Thanks boo 😘
Does BP have any videos to teach a newbie like me what to do or renovate a home once you’ve secured a contract on a property⁉️ because I really Feel lost and almost clueless on where to start
Yes! The overwhelming majority of BP is designed around education, this series is more about people.
Very impressive and inspirational. I wonder what's his starting capital? We just got our very first rental last year and want to close another SFH before the end of this year. I need to learn more about creative financing!
What was your starting capital on your first rental? Thanks in advance
@@beautydefined1601 I had 3k in my pocket. Just had to get someone to believe in me.
@Vanessa Johnson shit you already lost $10.000 a month between this comment and the one before
@@Picwajzzz 😂😂😂
6:00 Why does that door still have the sentry key lock? I thought you bought it already. During the remodeling time, which I assume about 1 month or less. Shouldn't the real estate agent taken that lock away?
That was the flip I did. I didnt want to do the interview in front of the tenants... seemed a little awkward
Nice video!
How does one raise deposit for multiple properties as most commercial properties require 20% down payment.
You can message my administrator for assistance on W/H/A/S/A/P
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@neal cassady Toko ya bomao
Realistically speaking how much do I need for 1 house for section 8 housing
I'm 22 and I'm done living depended to parents. I want to become independent. Through real estate. And I'm afraid. And videos like this inspires me but still I don't take action. Sorry for the words .
i feel that going through the same thing
So is there a Part Two with quality content on how this was done besides "funding from FIL, and taking action"?
Message me on BP and I can tell you all about it if you want the details
@@silverlininghomesllc507 i wanna know how you convinced your FIL to risk his retirement while most FIL wouldnt risk wasting their saturday with their son in law haha
Why even show a video like this if you’re not gonna do a numbers breakdown. This unfortunately didn’t help me much
Hi BiggerPockets, I am 35 years old, I live in Syria and I am planning to move to the States to start investing in real estate. Which city is the best and most fertile to start in? Thank you in advance for your help
I live in Dallas, Texas and work in Mortgage Banking. The market is hot here and has been for many years, even during COVID, our volume is at record highs. Due to the Fed loosening monetary policy there is a lot of refinancing going on nationwide, however.
@@zeus9527 Hi X Bry, thank you for your reply. What do you think about Austin? I heard it's fast growing city and got some major companies like from California moving in. However, I wanna go to a diverse city like Dallas because I am not white and I don't wanna end up like George Floyd ... JK lol
Description and video say 37
title says 27
*still very inspirational though*
before watching the video I was sleepy until I heard that intro music
Its so hard in NYC with a 613 credit score and only 60000. Its hard
im looking to go upstate and philly would that be better?
try fha loan it works for people like you
Where were these properties located??
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Good stuff
which city was it again?!
smells like money. hahahaha! Very good, and so true!!
37 in 1.5 years is insane. We have 7 in 24 months and its a lot but I want more for sure!
Did you use the BRRR method?
Bigger pockets is all about the case - study interview, and that's cool, but details/numbers are cool to. I'm in Knoxville TN, and people are getting no money down loans on $150k new homes. All good I guess. We're in a new era.
Josh - I stared at a computer screen all day long.
Me - *instant like*
So absolutely cool. Real estate is so cool and I'm so glad that bigger Pockets has introduced me to this world.
If anyone is in the 17201 or 17201 area and has houses they want to sell, please pm me!
I didn't hear a word on cash flow. Are these properties so leveraged and now that some tenants are not paying rent due to covid, how are they looking? Not to be negative but alot people think $+150/month is cash flow, it is not.
he said in a comment he makes 350 in his pocket per door, also not sure what you meant by 150 a month isnt cashflow... if you had 300 doors making you 150 a month is it still nothing? i dont think you know what youre talking about
nice mate
Great,
Nice video
I have challenged myself to put away 50% of my monthly income into stocks which is quite easy since I live frugal without debt. I work as an account executive, and make over $17300. $8650 goes into dividends, and the other $8650 covers my my food plus living expenses monthly. I am seeing improvements in my portfolio, dividends look certain, but I have to attribute this to only to guidance of a licensed technical trade analyst who allocates funds to a plethora of assets for me I am so in love with this channel. I am 40 years old and just started investing in stocks, and ETFs. I even started my IRA, and 401k with the help of my licensed trade analyst I’ve been able to compound over $31k in profits from my trades. I have to stay disciplined, and remember that I’m in it for the long term. Good luck to everyone and thanks for the great video.
Compounding interest dictates that even small sums of money can be turned into fortunes over time. The case for me since I got working with Hestrel, since providing me with the right investment choices.
I took out time to do a research with the information provided and talked on Whatsaap I started with a 5k capital
+ 4 0 3 7 1 7 0 0 3 1 4
To say I’m glad to have taken your advise on here is me trying to be humble but I’m delighted I did.
Hey I'm 27 low credit score about
17 k in debt trying to figure it out thinking about house hacking to get started but planning on getting my score up paying off my debt and saving some money then In my head I'll be ready hopefully it'll only take a year to be ready
Any advice
Great video. Thanks. I hope my story is Similar.
I wonder what was his starting capital?
Which area is this? What does an average home cost there?
How do you do now with the current inflation?
good video
Bp’s is amazing but you gave back by „Blabla bla a bit of bs motivation , 0% knlowedge on this video
There is LOTS of information on BP regarding financial education, I made this specifically to tell stories about people to offer something a bit different.
Where are you located? City/State?
Can we get the numbers???
Why aren’t his places rented out? He’s showing a bunch of vacancies.
Disclaimer: I have no idea
However it may be he only shows ones that dont intrude on peoples lives who are living there. Or alternatively the housing market is rough rn a lot of people arent able to pay rent and have moved out or stopped paying altogether.
he owns 37 rentals, all of which hes acquired in a year and a half... that should answer your question
@Vanessa Johnson scam
This sounds like an infomercial for BP.
Infomercial for mentorship.
Congrats
Did you use BRRRR strategy as a process
What’s the song on the intro?