How I bought my first rental property at 21 years old
ฝัง
- เผยแพร่เมื่อ 25 พ.ค. 2017
- By popular demand, here is exactly how I bought my first rental property. Everything from how I made my money, how and why I saved it, why I wanted to invest in real estate, what type of home I wanted to buy, what area I bought in...everything. I hope you enjoy it, thanks for watching! Feel free to add me on Snap/Instagram: GPStephan
Learn how to make money as a Real Estate Agent, build your network of clients, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: $50 off with code ThankYou50 for a limited time: goo.gl/UFpi4c
If you’re the TL;DR type:
-Started working as a Realtor in 2008
-Saved the majority of my income from 2008 until 2011/2012
-I noticed real estate become very cheap and I wanted a stable source of income
-I bought the first property for almost $60,000
-Renovated it - and rented it out
-Continued saving as much as I could
-Continued buying more rental properties in 2012
-Continued working as a Realtor
-Bought another property in Summer 2016
-Continued working as a Realtor
Enjoy :)
![[Full Episode] MasterChef Junior Thailand มาสเตอร์เชฟ จูเนียร์ ประเทศไทย Season 3 Episode 6](http://i.ytimg.com/vi/CVUx09Rx0-M/mqdefault.jpg)
I remember watching this video two years ago at 19 with $2,000 in my bank account and now here I am two years later with $30,000 ready to buy my first property to househack in and eventually turn into a full rental. Without the motivation from these videos I’m not sure I would’ve had the discipline to get here. I know $30k isn’t much but coming from poverty it’s more than I could’ve ever imagined.
That's amazing!! Well done man, you've come such a long way!!
Graham Stephan I’ve got $3800 in my account right now at 21. I’ll be back a year from now with my new and improved number. Added to my favorites so i don’t forget!
Arturo Lopez How did you do it?
Aisha Jones I created a strict budget that consisted of $50 of spending money (used on anything that wasn’t a bill) a week and stuck to it while having a roommate to rent out half of my apartment. I also looked for any way I could save money, for example: I only gave myself a 2g data plan for my phone instead of picking a more expensive unlimited plan. I even avoid using the AC/Heater unless it’s truly unbearable. I also flipped a few vehicles to add on top. Now that I’m 21 and I have my desired amount I still have a strict budget but I also have more spending money to maintain my sanity. However, I just bought a beater so I can begin Uberinf/Lyft on my free time and I intend to change my budget to where I only use that money for spending money and my normal income strictly for bills and saving.
You got more money than most believe it or not. Most people just live pay check to pay check regardless of income.
In summary your story is: Lived below your means -> saved as much -> Buy when the market was going down -> remodel the property -> get return!
Im happy found another good channel.
Done! That's it :)
How much longer until the market goes down 😭😭
Crypto Jo you can’t knoz
@@josmargarcia7964 The market always fluctuates so you just have to keep up with it.
No he made like 6 figures as a real estate agent and got an unreal deal due to a market down turn plus he was insider as a real estate agent. He was more in the right place at the right time in the right market.
Ayyyye I like that mentality! - "The money i'm saving is basically additional income."
That is awesome, I am going to use this mentality for now on!
Once you see it, you can't unsee it!
Can you be a real estate agent without a car. Im 19 right now but planning to get license.
A dollar saved is a dollar earned. Same thing
Called opportunity cost
If u live that way your whole life, what’s the point of making money? U only live once! So I got to make a balance between those two philosophies
So basically you "lived like no one else, so later you could live no one else" - Dave Ramsey
Thanks for the feedback.....for more information *+1/6./1./.7../4./..6./..5./..5.../3../4../7*
W •H•A•T•S•A•P•P.••••M•E 🔅 🔅 🔅....................
You were 21, when the real estate market tanked. Good timing ;)
I-Iz-Chaos -99 same i hope so too
@@VloggingCastles man same I'm looking to get one in July saving up as much as possible
Exactly most lost everything in 08 and had no chance buying anything with $0 in the bank. Maybe their will be a housing mess this year.
Same. My timing is off. I was just a kid in middle school back then lol.
Plus he was making 100k a year. Probably from the suckers buying right before the crash trying to get rich.
Mom and I are very proud of you son!
Thanks Dad!!!
Much love
Graham Stephan he isn't your real dad is he? I mean it be kinda odd calling some guy dad if he wasn't lol
@@dallasgreene1314 doesnt look like hes the real dad
@@cherrytung You can clearly see that they share the same nose in Jeffrey's profile pic. That's definitely his dad.
100k a year as a real estate agent, 20 yrs old. That's what the top real estate agents earn in Sweden after 30yrs of experience.
That's crazy...here is much, much different. Especially in LA, you can sell 2-3 homes in a year and do $100k.
Same here, in Finland. Its way different.
100k in la is like 10k in Sweden
Socialism
Atte Räihä The top real estate agents make 500k+ here stop spreading lies
I’m 16 and I have 1k from reselling sneakers. I’m going to get a part time job and hope to have at least 10k by the time I graduate high school (2 years). I’ll live with my mom and work full time (and live frugally) until I’m 20. Then I’ll be ready to buy a property.
How are you reselling?!
Keep in mind, living like a hermit is the key ! 🤠
Keep going! Freshman year I resold and worked a part time job and within a year I just hit 15k.
Don't forget to do taxes. That 10k will be 6k after social security
Kristyan Ortiz you could buy 1k of coke, sell for 1400..so on and so on. Skip high school because US government school is for programming you not learning. Then at 20 travel the world for a year and realize everything in America is a lie and deception. Then retire in the Philippines and enjoy the rest of your life
I have been pretending I’m broke just so I can save and live in financial freedom. I can’t wait to get my rental properties
Smart move
saving 90% of my income for that exact same reason
+Dany ́s Travel and Fitness Diary YES! 🙌🏼
So how are you doing now?
How much have you saved up?
@@miguelp_25 yo what u at now? Been a year pretty sure
@@pjscoglio7482 haha are you asking me or op? Im doing ok in uni. With the coronavirus investing has become quite impossible :S
Increased 2000 euros my portfolio since my comment
I love how you're so open and clear with your career. You're not selling a product or using tactics to draw people in to purchase it. You also engage with your viewers which is amazing. Keep it up man, not a lot of people will share their success secrets for free. You're inspiring to me and I bet to so much others.
+Victor L Thanks so much! I'm SO tired of people trying to sell their "systems" and crap programs to profit off of...they usually make more money selling programs than they ever did off of doing what they teach. Plus so much info is free anyway so no sense charging for it. I'm glad you enjoy it though!
"Penny saved is a penny earned"
Credit to Benjamin Franklin
I just have to say this. You are friggin fantastic at what you do. Both on youtube and in real estate. I've been watching you for some time, and as my youtube channel is growing, my income is going up so fast that I'm worried about taxes. This has lead me to want to invest in real estate and get rental properties. You never know how long youtube will be around, and I need both a tax break, and income beyond youtube. I just wanted you to know that you are a great teacher, and in my case, mentor. Keep up the good work. Subscribed and watch all your new videos.
I make over 10 000 USD each month thanks to FRO ZEN PA.C OM
I’ve learned more about finances from 5 minutes of any of your videos than anyone has ever taught me in my 41 years. I’ll smash that like button buddy. Thanks for the videos
Dude, you were able to do this because you made a lot of money. It's as simple as that. $30k is a HUGE starting salary and within two years you were making over 100k. Buying a house is simple at that point. How you increase your income so rapidly is what you should be making a video about.
Much of it was working in a high price point - I started making a considerable amount by selling really any house in Beverly Hills. Even the least desirable areas were $1,200,000 or more....so that translated to a high commission for anything I sold. Definitely makes a difference!
GrahamStephan Yeah, I totally get that and that's possible around where I live now as well. Maybe something I'll look into. What about the back end? How were you able to live in such a high priced area to make this happen? Did you live with your parents? How did you keep your costs down? That's been my issue is that I'm able to get an ok paying job here but my living costs are very high too.
how does a 19-20 year old sell a 1.2 million dollar home though? How do buyers take you seriously?
30K is a huge starting salary?
Zachary Nickerson 30k at 18 yrs old with no college degree/loans is good money. He probably lived with his parents and contributed 0 to them. This enables him to live like a hermit.
You were at the right time in the financial crisis: With the necessary amount of money to benefit from the devalued real state properties retook and hold by crooked banks. Law of attraction. Great job!
Thanks so much man, I agree, a bit of luck but it all worked very well in my favor!
You actually read the comments. Nice! I'm a fan. I have been in the financial sector both in the States and Europe for some years. I think it's now time for me to go independent and start to rely in passive income for which your videos are a real motivation. Greetings from Luxembourg. Keep up the good work!
Ya right place right time good 4 u big success...
I’m so glad I came across this video! I am 21 and have the same mentality where I save everything and have more enjoyment saving and investing than spending. I am saving up now to buy my first property, can’t wait! Hopefully I get lucky too and by the time I am done saving the prices collapse hahah
The most genuine person I've watched
It's free real estate
Thank you
That's how I am! I'm 19 and have built my net worth to a little over $50k!
+Lionsrboss That's AWESOME dude! What type of business/job?
GrahamStephan I have 13k invested in the stock market, 30k in cash for when the market crashes and about 8-10k in gold/Rolex. I've been working since I was 14 at my family's restaurant and saved almost every cent
But I have it a lot easier than most my age because my parents bought my car and I live at home
+Lionsrboss Im so happy to see you doing well man, seriously - and what type of Rolex? At 19 I bought a fake gold Rolex Daytona 😂
GrahamStephan 2016 submariner the silver and black one
The harder you work, the luckier you get!
very true. Nothing replaces hard work. The luckiest people are the ones who work and apply themselves the most.
Alex Wirz this Is so true I feel like the harder I work the more opportunities get thrown at me it’s wild but I love it so I’m addicted to working now lol
@@nestfindr7357 eh, he could have worked all he wanted or not, theres no denying that the recession gave him a unique once in a generation opportunity. I knew someone who was poor and still managed to benefit from the recession. Hard work only takes you so far
A video on basic Real Estate concepts and a step by step process would be greatly appreciated by the audience!
You got it, working on that!
What a video once again!!! Love how specific you are in your stories!
I am 20 years old! I can't wait to enter the workforce after I graduate from university and follow your advice:) You're a real inspiration for me, thank you so much for posting these videos.
Literally you just word for word described how I think - that's amazing - never heard anyone else that has the same mentality. I stockpile and think of saving as income - incredible!
+Marshall Steeves Great minds think alike!
Your videos are so helpful. I'm hoping to reach these successes by the age of 21 :)
I'm seriously really glad you enjoy them, that means a lot to hear...I'm also hoping a common takeaway from my videos is that saving a large % of your income is essential, or at least spend it on areas worthwhile. Had I not saved religiously, I definitely wouldn't have been able to do any of the investments i've done.
GrahamStephan Do you think it would have still been worth just enjoying a good night out every now and then? To get a good balance in life, I feel like you always need to be doing something fun otherwise everything is just too boring in life.
Probably. I lived way too extreme in terms of frugality when I was younger - thankfully it all worked out in the end and I don't feel like I missed out on anything since the career was my focus, but looking back I could've let loose a lot more and still been just fine. Even today, I'm just a little more cautious where I spend money and make sure it's in areas that I know I'll really value. Like dropping $55,000 on a Lotus was fine, but that $5 starbucks? Nah, the one at home is just fine...if that makes sense?
I'm 21 and I'm halfway done with my pre licenses course. Hopefully I can make my first stack by the end of October
I think you did it right. You need from time to time something that you really desire that keeps you pushing, but these expensive nights, where you party all day makes you only feel drained and you lose one day after that to recover from these days and at the end it doesn't bring you further. I always try to take action on things, that can have a ripple effect on my life and compound over time.
Stephen, for all of the instructive points of this video, the thing that stands out to me the most is your willingness to admit that luck played any role in this scenario.
Most people insist on taking sole credit for their own success. I don't think it diminishes your effort or success in any way. Good luck comes and goes - as does bad luck. The key to dealing with either is to be prepared for both. It sounds like you did everything you could to prepare yourself for the worst, which made it easier ["easier", not necessarily "easy"] to take advantage of the situation when it improved.
Not accounting for good luck is foolish, because it cannot necessarily be replicated in the next deal. I'd rather be prepared than lucky. Thank you for your honesty, and for the amazing wealth of detail you provide in all of your videos.
Thanks Graham this video was absolutely awesome. You don't even know what a change you are having in the way I am viewing the real estate market.
Ely
Great to hear tips from someone who walks the talks
Totallly agree
Divine Grace Rafanan yes and he’s so genuine about it.
Sounds like you need some cheek busting
Divine Grace Rafanan definitely helps hearing it from someone who is doing it well
I wish I had your mind when I was 21. I’m 37 and I’m just now making intelligent decisions. Love your channel:) thanks for your knowledge
He probably had parents who already had the knowledge and know-how, in combination of living in a place where everything costs a massive amount of money.
I'm on track to make maybe 90K a year by working a full time job and licensing software. In LA I would probably need to make a solid 160k for a similar life style due to higher expenses of living and the increased tax rate.
@@Lolatyou332 he had the opposite
@@funnycrow4462 OK. I'm actually closer to making 110K this year at this point as an update, looks like I'd have to make 260k in LA to have the same standard of living.
@@Lolatyou332 are you a realtor/realestate agent
Its crazy how far you've come with youtube! This popped up on my feed. I've been subbed for a few years now!
Revisiting this 3 years later. I’m now 21. This is the video that introduced me to Graham!
The part about "starbucks coffee" was literally me in high school, and still is in different areas. I can remember how happy I was when back in grade 10-11 I was "making" around 300$ a month by "not buying" daily coffees.
Yep!! So true!
He is a literally angel for my finances thank you so much, also plz write a book/audiobook! I'd buy it for sure
As someone who is currently looking to buy my first multi-family, your videos are so insightful. Keep up the great work!
+Brandan White Thank you! Good luck on the home search, I'm looking for a duplex/triplex for myself and just started my search.
You had very good timing. Not to take away from you achievements and I love the show. But that's VERY lucky indeed.
Patience and discipline pays off at the end. Great story man
+Luis Miguel Thank you!
We both have similar Storyline, i started out in real estate in 18 im 19 now had a few sales and im planning of building my first rental unit next year
Well done!
Graham Stephan hello I like your channel I will be successful like you one day
I really love your 'frugality' and openness around how you got to be where you are now !
Truly inspirational.
You are now one of my uber favourite You Tubers.
Rob
Wembley
UK
Thanks!!
This man is an absolute genius yday I watched a random video now I’m hooked. Amazing content. I appreciate your mindset on life just wow.
Thanks man. I’m 21, studying for my real estate exam, and also currently a home builder. I’m hoping I can mash those two trades together once I buy my first property.
How are you doing bro?
@@totallynotme8401 Doing good man. Passed the RE exam and now I’m currently in the works for my contractors license.
I’m in college and investing in real estate is what I plan to do once I graduate and start working. I’m 27, I wish I had this mindset in my teens, but I was young and didn’t know what I wanted to do, and ended up getting kicked out of college for bad grades mainly because I didn’t do the work. I was just goofing off with friends and didn’t take it serious, but now I’m going full speed, this is my first year back in school and I’m about to finish my third semester for the year with A’s and B’s. I can’t wait to graduate and start making and saving money to invest, I plan to retire by at least 45 with at least 10 properties or more, that’s my goal
That why everyones mom always tells their kids dont follow friends,,dont smoke,stay away from trouble,study hard. Some people parents always tell them that just so they can make money without having trouble. I glad i have a mom that push me hard because i wonna be a person that can be a million im 17 im studying hard i wanna know finance and real estate thx god my mom always push me.
How’s it going
Your video made my day as a teenager. Beautiful Mantra : 'Save as much as you can'
I am looking to start realestate classes this year. The way you explain things is so simple. Everything you explain makes me feel very positive in moving forward. I just home my instructors can break things down like you. Thank you for your videos. 😁
Thanks so much!!! Glad it's helpful!
I was broke till I was 30 and partied my ass off. Then I got a job and within one year I bought 2 houses. Now I have 13 houses several years later. It was actually pretty easy. I got a job as a RN and did a lot of overtime.
Jay Jay Whats an RN? Anything you can recommend on that direction?
@@Souled1 Registered Nurse(RN).
Were you an RN when you bought the first 2 houses? How much did you put down for each house? Sorry if it’s too personal but I’m just curious how other people do it
"Maybe she's a diabetic, NO" LOL
Love the videos Graham! All this information is soo valuable! I cannot express in words how thankful I am for your videos! Quality video, keep doing what your doing man!!!
LOL Thanks so much, Blane!! So happy you enjoy them, it's been so much fun for me to make these.
I am 16 and I have this mindset , good to see someone with the same mindset that my it out
I'm so happy that I found your channel, I'm going to finish school in summer with 19 and I'll definitely focus on real estate, thanks for being so real🙏💓
+Josephine K You got it, thanks so much for watching!
You at 21 is smarter than me at 23. This feels like a lot to absorb. And understand.
I live in San Bernardino hah! I appreciate you willing to share the secrets and willing to help others succeed thanks for the videos!!
+Alan Torres You got it man, thanks for watching!
GrahamStephan No problem. Is there anyway when you have time available we can meet? I myself see you as a mentor and have a lot of questions to ask.
Love the vids man! Keep it up! So glad I've stumbled on your channel I've really gained useful knowledge from your channel and I thank you for that!
Thank you so much, really glad you enjoy it!
I work in a restaurant that is in a resort. I always pick up extra shifts and work 16+ hour days. It’s awesome because they’ll give but me a nice dinner from the restaurant and the more I’m working the more I’m not spending.
Inspiring story. That house with the needles and puke, so scary. You are going to be balling in your retirement, chrome walkers and ish.
+Dani L Vlogs hahaha I'm hoping chrome walkers with spinner rims, gonna ball so hard.
Yo Graham! Random thought here but I think you should give us an hourly breakdown of how you manage your week. Like how much time you spend on real estate sales, youtube, investing, etc. think it would be a good opportunity for people who may struggle with time management (we could all probably afford to improve)
+DavidMarinoJr Good idea! I'll definitely do that. Ugh right now too much time is spent on TH-cam now 😂 It's definitely been distracting from everything else!
Has he done it yet ? Lol
attached flower I guess not lol
@@52andattitude48 still waiting for that video Graham:-)
You’re videos are really interesting, as a 19 year old interested in finances you’ve really given me an entirely different perspective on how to earn an income!
This Guy is the GOAT ! Truthful and great practical advice!!
Congrats on one million subs
to the investor, recessions are basically sales.
Clayton Bridges I like that phrase!!!
Just bought my first multi family rental property, 22 years old. Upper lower duplex. Love what you do graham.
Thanks!!
Very informative sir, I've been thinking about buying a property to fix up and rent out, this has some good information to help out.
Your story totally changed my outlook on investment properties and the importance of saving! Thank you!
+Carlonelle Santos Thank you so watching, I'm so glad you enjoy it!
great advice .
one word of caution , it only works if the auction property is at least 50% off the market value. anything less is good for obvious reasons. but anything more will cause you to bleed more money . fixing up the place will be in thousands normally.
I bought an auction house for almost the market price. not a very good choice.
I came upon this video and man I have really enjoyed watching the whole thing. I have been wanting to do real estate for a long time but opened another business instead and now I want to really get serious about real estate. I’m 40 and I want to learn so much about the business and not worrying about the past and why I did not do this sooner. I’m just going to focus on the future. I’m already Thankful for this video, Graham. I’ll keep you updated on how it goes. You now have a new subscriber!
Thanks so much!!
Thanks for sharing Graham, great story. I agree with you 100% that saving & investing money is more rewarding than spending it. I'm a commercial real estate agent & investor in Miami. The return on properties in the current market is tough but there are still deals to be found if you look hard enough!
I completely agree! I'm in the process now of looking for another place to buy, it's hard to find a good deal and there's a lot of competition, but it just takes time to find the right deal where it makes sense.
it would be cool to see before and after pictures on that property!
DAMN!!!! I forgot to upload those...I have them, too.
This is incredible i am really happy you have done this video.
+Stun Thank you so much for watching!
So encouraging that you could succeed in such a down market and show us the way!
I have now been trained to "destroy that like button" within the first 3 seconds of these videos looool. Very inspirational.
Thanks for sharing your awesome history 👍
Khul kara
Man, even without the property 100k a year at that age is amazing. How'd you manage that?
Working as a Realtor in LA. High home prices meant i only needed to sell 2-3 homes to make the $100k.
selling meth
loving these videos! Keep the knowledge coming!!
This kind of profit advantage and escapes the interest of so many people and it alleviates so much stress... I wish I started over 10 years ago to focus on financial growth.. Love this information!!
I think God really brought me to your video. It has been so helpful especially the one credit card churning. Thank you very much.
You got it, I'm really glad it was helpful!!
When he said one of his criteria was a property newer than 1978 i knew or at least think it has something to do with the 1978 lead paint disclosure ;) I know this because Graham inspired me to get my real estate licence and I just finished my law of contracts class hehe
+Shawn Amersi Ha! Good catch.
I also watched this video a little over a year ago. Now I own my first property at the age of nineteen. Keep up the great work and advice.
Awesome!!! So happy to hear!!
Amongst all of your videos I've watched so far, this is my favorite! :)
Thanks so much Rira! Glad you enjoyed it!
Damn that's a nice view/house.
Thanks for these videos Graham, I've been a subscriber for a while now. I feel like I am part of a special club because I discovered your channel early!
Welcome to the dark side 😈
You are doing Gods work my brother ! Nothing but knowledge you give to us ! Thank you ! 🙏🏻🙏🏻🙏🏻
+Ariel Martinez Thank you for watching!
Bless you brother. You are a hustler. Crushing it.
dude from now on i fucking admire u,honestly wanna be like u
+german rojas Thanks so much for the support dude!
some of my family members are actually doing the samething right now. you are technically buying money. bc it's super hard to lose money. very good deal Lord Graham.
Dear Prince Carlos, thank you royally for your comment. It has been well received and I blessed it with a "like."
your blessing shall be accepted my lord
We're watching Graham's videos for a few days now. His story is inspiring!
🙌🏼
so proud of you
I'm 17 I'll come back when I'm 25 and buy a rental hopefully i will remember to comment lol I actually watched this vid like a year ago and i watched it again haha
Note to self: Describe "The millionaire mind quote" after you are 25.
You have an Instagram good sir? I would like to dm you.
I inherited a place from my grandparents that I currently live in during college and I hope to rent it out after I graduate!!!
Goodluck em! :)
Good for you!
Really helpful videos and i really appreciate how transparant you are with personal finances. Thank you for sharing Mr Graham
+Win K. Thanks for watching man!
Knowledge at its best. Thank you
I couldn't stop laughing when you were explaining the condition of the house with the lady. 😂😂😂
Oh shit, I tried my best to carefully word that one lol
hahaha 😂
Thanks for the motivation Graham, I've been a realtor here in Vancouver for a year and I'm 22, hope I can reach your level in a few years! What's your thoughts on pre-sales? My mom invest in them every few years and makes $100k~ every time she sells. The cap rate here isn't very good at all for rental properties.
very high value video Graham, especially walking through the buying criteria and the specific numbers. many thanks!
also, I really appreciate your disavowal of the usual coaching/ebook/etc scammy approach. it makes me trust you way more than the usual salesman types.
I'd love to hear your thoughts on where we are in the long term real estate cycle. (granted that will have lots of regional variation, but a general overview of condition would be great)
peace!
Been binge watching you channel for a day and already know so much
🙌🏼
I think the same way when I don't buy something I'm like damn I just made $5 by not going to Starbucks.
“You can always tell the winners at the starting gate.” - Robert De Nero
me trying to pick startups
I’m turning 20 this November I’ve been sheltered nd still trying to get my license I hope these next few years will be a complete turn around.
This is the definition of value investing. Great story and good job!
Thanks!!
Watched 2 vids and subscribed.
THANKS SO MUCH! Means a lot for the support!
Wow! You're very inspirational! I am 26, husband's 25 and we bought our first home at 22 & 23. The house we bought was previously flipped and remodeled by an investor. We've lived here for 3 years and have done very very little to nothing to the house. We thought about making it into a rental but because the market is so high right now, we're putting it up for sale pretty soon and expecting to make at least 30k in profit. We still have a loan on it so we've decided that's our best option. Do you ever sell your rental properties? What helps you determine whether to sell or rent? Really enjoy watching your videos!
+Ca_tee Thanks so much, I'm glad you enjoy them! I've never sold any of my rental properties but partially it's because I've never really needed to, so I just keep them going. If the values shoot up so high that I know I could make a significantly higher rent elsewhere, I'd sell but it'll take a lot to get me there. Where you moving to once you sell?
It was a very similar environment here in the SF Bay Area (at least in most parts) back then! I bought the townhouse I live in for $61,760 in 2012 (short sale, of course), and another property as a rental for $43,000. Pre-crash they were worth hundreds of thousands. In the years following that, I started buying properties in the Cleveland area... same basic idea... properties in decent condition, and in decent areas, selling for 25-50% of their previous peak values. All my rental properties (6 SFRs, 1 duplex, 1 condo) are fully occupied and are going back up in value nicely. I’ve managed to increase my net worth and my cash flow considerably as a result as well!
Graham, this is why I subscribe. You do not overcomplicate a topic and you get to the point with the details that we all can work with. Appreciate your honesty and clarity - keep up the good work. Would love to do the same but I feel bad moving money out of investments for opportunities. I know cash is king, but to have 100k in a bank seems crazy. I've always heard you need to have cash to take advantage of a opportunity and you did it. Looks like being young without family obligations allows you to focus on a goal, the post 2008 crisis was icing on the cake. Congrat's
Thanks so much!!