I got super excited when you doing Power Point first time ever in your channel as far as I remember.... ahaha Thank you Michael. Great Educational Channel I always watch
I'm at 3 but I am rehabbing a 4 plex right now and once its stabilized with tennats I'll be at 7 rentals..... Should I walk away from my W2 now during the rehab process and depend on a DSCR loan for the refi on the 4 plex.... or stick with my W2, and refi the 4 plex using my W2 income???? I just want FREEDOM from my W2 job - ASAP
I’ve been a daily listener for about 18 months. Almost all your content. Key word listener. I have yet to act other than house hack my primary residence and build up dry powder. What I have yet to hear you explain is how do you determine where your buy box should be. This has been my largest struggle on getting started. I think expanding on this point would help many like myself getting started with some general guidance on this principle that I have yet to hear you discuss.
Thank you for always putting into perspective what getting wealthy really means. I haven’t missed an episode of the Daily Financial News in 3 years and it’s all really starting to make sense.
Made an offer today on a new construction home. I took your idea and using the builder buy down package makes the number work. I will see how it goes. Thanks for the idea!!!
@@OneRentalataTime I also shared your youtube channel with my team this morning and a mortgage lender here in Texas. Thanks for producing the great content. I discovered you about three weeks ago.
One obstacle to my path-after obtaining 6 2-4 units ; between job and having kids, I maxed out on what I had time and energy to balance. I’ve been in the game for 18 years in the Midwest (where we have not had as steep a increase in equity as on the coasts) -so are nearly where I need to be. But due to slower rise in equity here it will take 20 years to get where other regions will take 10. So perhaps this is a bit of losing focus and lifestyle creep (only due to having kids)-but it mainly has to do with regional differences in equity appreciation and time needed to stay focused.
Equity appreciation is one factor, but where equity appreciation is greater, price volatility may be greater also. That's one thing I like about the midwest, low volatility. Just as with securities, if you are younger and can tolerate risk, add some remote volatility to your portfolio, but this will require remote property management as well. Edit: after the aquisition+portfolio growth phase, the cash flow and equity "should" outpace your lifestyle creep. Just keep an eye on competitive rents and you decide how competitive or attractive you want yours to be.
I spent a few hours today with a man that's been investing in real estate since 1977. Interesting that 1 of his big talking points was that most people should not be landlords. He brought it up more than a few times for different reasons. #1 He's gotten some of his best deals from people who should have never owned a rental to begin with. And 2, about 30 years ago after he had a good idea of what type of person makes a good landlord, he started telling most people who asked for advice to look at something else. I'd be curious to hear your thoughts on this subject.....btw, he told me I was a 10 out 10 as far as meeting the landlord type..lol!
Oops...almost forgot...my opinion, the reason people don't know it's possible to become wealthy is the Public School System. Besides the "ORAAT FAMILY METHOD TO WEALTH", it would include information on "thinking for yourself" and why following the crowd is not a good idea.
Hey Michael, is this video relevant now in Q4 2024? Can you please make an updated video on this topic in light of the recession, election, Zillow/Redifn predictions and fed rate cuts?
Would be interesting you opinion regarding where USA going with their policies,15 min city’s and “Owe nothing and be happy “,what is going to happen to real estate investors in single family houses?
Great video and very informative and REAL. One question I have is do I have to narrow it down to 1 zip code or can I set my buy box to within an hour from where I'm located. I heard you in another video and this one say you set up a two hour window from you. What are your thoughts on that for me. I own 1 single fam with an ADU currently and looking for my 2nd now. Thanks in advance.
Good Morning. I've been watching you, Michael, and Toby Mathis (& team) for a bit now. (I am not an investor yet, learning what I can to get my "action plan" together). My only debt I every carry is my mortgage which will be paid off in 5 yrs when I retire, as I am paying off principle to not carry mortg. once retired. The one question that keeps popping up in my head is - what is financial freedom? Is it when all my net gain from my properties have paid off my personal debt/mortgage? Is it when all investment properties are no longer holding a mortgage/leverage? ok, that makes sense. What actually determines the number of properties I would need to be financially free? Once I have my X number of properties mtg free, is that when the money I net can be used by me to "enjoy". What are the tax concerns once I am no longer reinvesting my net gains? (I've not heard anyone talk about what the actual end goal looks like, I've only heard about 1031s and reinvesting over and over). Thanks in advance.
What’s the deal with the Brandon Turner beef? Either way enjoy your content along with David Greene, Chad Carson, Paula Pant, Kathy Fettke, Dan Lane, and Brock Collins. Thanks for giving me the confidence to buy my first one. I grew up in a trailer park and my dad yelled at me during the closing of my first rental property.
Hey Michael loved your book and your content on the channel. Im 44 and I retire in 9 months from my government job and currently have 1 multi family house that I currently live in. I have some money I’m looking to invest into maybe another property or properties. Would love some advice on what should be my next step.
Michael - just had a thought this morning as I'm visiting family in Florida. I think everyone is aware of the lock in effect from previous low interest rates. In combination with the now higher interest rates and rapidly rising insurance prices, how do you think this will effect the general market? I've been hearing of some people seeing insurance increases up to 300% in some areas.
Assume 8% for an average deal: I find the increases of 1.5% for a good deal and 3% for a great deal very interesting, when compared to the previous calculation of 20% for a good deal and 50% for a great deal. See math below: Method 1: 8% + 1.5% = 9.5% Good Deal 8% + 3% = 11% Great Deal Method 2: (8% x .02) = 1.6% 8% + 1.6% = 9.6% Good Deal (8% x .5) = 4% 8% + 4% = 12% Great Deal Utilizing the 8% baseline for an average deal, the results produce: 9.5% vs. 9.6% for a good deal and 11% vs. 12% for a great deal. Inquiring minds want to know: Which calculation method is the best choice, 1 or 2?
I love this video and I will add that you should not watch doomers if you are not convicted in your investment strategy. I look every day and I can see how my market is shifting, a doomer talking about Dollywood has no impact on my investment strategy. If you are in DFW, does the doomer know Plano is much different than Frisco? These are the questions you need to be solid in answering. If you cannot answer them, stop watching others who will cloud your investment strategy!
![[UNCUT] “บอสณวัฒน์” ลากไส้!! ใครหนุนหลัง "แม่ตั๊ก ป๋าเบียร์" I คนดังนั่งเคลียร์ I 30 ก.ย. 67](http://i.ytimg.com/vi/QlD7mU2KKRk/mqdefault.jpg)
I got super excited when you doing Power Point first time ever in your channel as far as I remember.... ahaha Thank you Michael. Great Educational Channel I always watch
My pleasure!
Michael - keep up the good work. Found you during covid. I’m at 7 SFH now. I’m W2 too and you’ve been an inspiration. Bought your book and loved it.
Thank you so much!! Congrats
I'm at 3 but I am rehabbing a 4 plex right now and once its stabilized with tennats I'll be at 7 rentals..... Should I walk away from my W2 now during the rehab process and depend on a DSCR loan for the refi on the 4 plex.... or stick with my W2, and refi the 4 plex using my W2 income???? I just want FREEDOM from my W2 job - ASAP
I’m at 4, and I’m good with that for now. Excited for the next 10 years.
@@nickfazzio5277leave your job!!
I’ve been a daily listener for about 18 months. Almost all your content. Key word listener. I have yet to act other than house hack my primary residence and build up dry powder.
What I have yet to hear you explain is how do you determine where your buy box should be. This has been my largest struggle on getting started. I think expanding on this point would help many like myself getting started with some general guidance on this principle that I have yet to hear you discuss.
Sounds like a great idea
Great presentation Michael. You provide so much knowledge and motivation. Keep up the great work and this channel is the best.
I appreciate that!
Thank you for always putting into perspective what getting wealthy really means. I haven’t missed an episode of the Daily Financial News in 3 years and it’s all really starting to make sense.
Appreciate the support
Made an offer today on a new construction home. I took your idea and using the builder buy down package makes the number work. I will see how it goes. Thanks for the idea!!!
Nice work! Good luck
@@OneRentalataTime I will update on how it turns out. No matter what, its making the offer getting the experience and doing it again!
@@OneRentalataTime I also shared your youtube channel with my team this morning and a mortgage lender here in Texas. Thanks for producing the great content. I discovered you about three weeks ago.
One obstacle to my path-after obtaining 6 2-4 units ; between job and having kids, I maxed out on what I had time and energy to balance. I’ve been in the game for 18 years in the Midwest (where we have not had as steep a increase in equity as on the coasts) -so are nearly where I need to be. But due to slower rise in equity here it will take 20 years to get where other regions will take 10. So perhaps this is a bit of losing focus and lifestyle creep (only due to having kids)-but it mainly has to do with regional differences in equity appreciation and time needed to stay focused.
Equity appreciation is one factor, but where equity appreciation is greater, price volatility may be greater also. That's one thing I like about the midwest, low volatility.
Just as with securities, if you are younger and can tolerate risk, add some remote volatility to your portfolio, but this will require remote property management as well.
Edit: after the aquisition+portfolio growth phase, the cash flow and equity "should" outpace your lifestyle creep. Just keep an eye on competitive rents and you decide how competitive or attractive you want yours to be.
Congrats on 6!! The good news is I suspect your monthly nut is small than folks on the coasts given cost of living.
I spent a few hours today with a man that's been investing in real estate since 1977. Interesting that 1 of his big talking points was that most people should not be landlords. He brought it up more than a few times for different reasons. #1 He's gotten some of his best deals from people who should have never owned a rental to begin with. And 2, about 30 years ago after he had a good idea of what type of person makes a good landlord, he started telling most people who asked for advice to look at something else. I'd be curious to hear your thoughts on this subject.....btw, he told me I was a 10 out 10 as far as meeting the landlord type..lol!
Great question, I should talk about that
we will cover this in mike and I's weekly wrap up Q&A look for it
Been purging my Twitter feed lately, such a relief
It is awesome
Thank you for your time! I’m forever thankful for everything you share.
You are so welcome!
Great job Zub. The key is owning cash flowing/appreciating assets.
Very true!
I agree with the comment below, GREAT PRESENTATION!!!
Thank you so much
I live in a small city and it’s basically impossible to find any single family home that meets the 1% rule. If you add in expenses, forget about it.
Tough out there no doubt
You have to buy off market,,, expand your network
Waiting for this content baby! As usual great job mike
Appreciate it!
Oops...almost forgot...my opinion, the reason people don't know it's possible to become wealthy is the Public School System. Besides the "ORAAT FAMILY METHOD TO WEALTH", it would include information on "thinking for yourself" and why following the crowd is not a good idea.
Agreed. School produces employees
With my first one my opinion is too only have one loan at a time I see the second one going twice as fast
Fun
Waiting for this content baby!
Awesome
like the powerpoint. Thank you!! Would like to download the deck also! Good Stuff!!
Good idea, how do I do that
Love the channel I currently own 21 units mostly houses .
Rock Star
Such good info! Thank you!
Glad it was helpful!
Watching from Jamaica 🇯🇲
Thank you
Hey Michael, is this video relevant now in Q4 2024? Can you please make an updated video on this topic in light of the recession, election, Zillow/Redifn predictions and fed rate cuts?
Sure I could do that
Would be interesting you opinion regarding where USA going with their policies,15 min city’s and “Owe nothing and be happy “,what is going to happen to real estate investors in single family houses?
Not sure I understand the question
Great video and very informative and REAL. One question I have is do I have to narrow it down to 1 zip code or can I set my buy box to within an hour from where I'm located. I heard you in another video and this one say you set up a two hour window from you. What are your thoughts on that for me. I own 1 single fam with an ADU currently and looking for my 2nd now. Thanks in advance.
I want folks to set up a criteria to produce a finite list of properties between 20-40 so you can get through the list
Awesome 😊
Thanks 🤗
Good Morning.
I've been watching you, Michael, and Toby Mathis (& team) for a bit now. (I am not an investor yet, learning what I can to get my "action plan" together).
My only debt I every carry is my mortgage which will be paid off in 5 yrs when I retire, as I am paying off principle to not carry mortg. once retired.
The one question that keeps popping up in my head is - what is financial freedom?
Is it when all my net gain from my properties have paid off my personal debt/mortgage?
Is it when all investment properties are no longer holding a mortgage/leverage? ok, that makes sense.
What actually determines the number of properties I would need to be financially free?
Once I have my X number of properties mtg free, is that when the money I net can be used by me to "enjoy". What are the tax concerns once I am no longer reinvesting my net gains? (I've not heard anyone talk about what the actual end goal looks like, I've only heard about 1031s and reinvesting over and over). Thanks in advance.
Positive Cash flow > monthly expenses to live your life
What’s the deal with the Brandon Turner beef? Either way enjoy your content along with David Greene, Chad Carson, Paula Pant, Kathy Fettke, Dan Lane, and Brock Collins.
Thanks for giving me the confidence to buy my first one. I grew up in a trailer park and my dad yelled at me during the closing of my first rental property.
Congrats!! The Brandon thing is certainly my issue not his. He likely doesn’t even remember our multiple interactions (but I do)
Hey Michael loved your book and your content on the channel. Im 44 and I retire in 9 months from my government job and currently have 1 multi family house that I currently live in. I have some money I’m looking to invest into maybe another property or properties. Would love some advice on what should be my next step.
Get a buy box, learn what avg is
found it!
Awesome
Michael - just had a thought this morning as I'm visiting family in Florida. I think everyone is aware of the lock in effect from previous low interest rates. In combination with the now higher interest rates and rapidly rising insurance prices, how do you think this will effect the general market?
I've been hearing of some people seeing insurance increases up to 300% in some areas.
More people staying put I suspect
Assume 8% for an average deal: I find the increases of 1.5% for a good deal and 3% for a great deal very interesting, when compared to the previous calculation of 20% for a good deal and 50% for a great deal. See math below:
Method 1:
8% + 1.5% = 9.5% Good Deal
8% + 3% = 11% Great Deal
Method 2:
(8% x .02) = 1.6%
8% + 1.6% = 9.6% Good Deal
(8% x .5) = 4%
8% + 4% = 12% Great Deal
Utilizing the 8% baseline for an average deal, the results produce: 9.5% vs. 9.6% for a good deal and 11% vs. 12% for a great deal.
Inquiring minds want to know: Which calculation method is the best choice, 1 or 2?
I think option one is much easier to understand and communicate, option 2 is better but hard for most to grasp quickly
Hi Michael - How do you know what the market rent is?
I validate with lots of different folks
@@OneRentalataTime got it - that’s always the hardest part for me, finding the right underwriting rate to use
@OneRentalataTime I would like to download this deck please
Ok
I love this video and I will add that you should not watch doomers if you are not convicted in your investment strategy. I look every day and I can see how my market is shifting, a doomer talking about Dollywood has no impact on my investment strategy. If you are in DFW, does the doomer know Plano is much different than Frisco? These are the questions you need to be solid in answering. If you cannot answer them, stop watching others who will cloud your investment strategy!
Exactly
What happened between you and Brandon Turner?
He is a putz
self distraction lack of believe in yourself
Agreed
❤
Thank you
Fear! Is another reason.
For sure!! Yes
So true. I answered the same when someone asked why someone doesn't succeed is the F word....fear.
Ja, but doomers, recall how they panicked during biogerm event, hurried to sell and move 🥳🐿️
Lol
yo is this jordan petersons twin brother?
Lol
Don't sleep on residential multifamily!
1-4 is right
This is a great share show. Great idea, I’m sharing to universe.
50k Hit🔨🧰🔭🍾🥳
Awesome! Thank you!
HOPE IT HAPPENS SOON SO WE CAN HAVE A LIVE EVENT IN VEGAS