Absolutely not lol. Leverage is so important. Put as little down as possible in the best area you can. Nice areas bring high rent and less crappy guests. Then after a long time of appreciation and the guest paying off your home, sell it for a huge profit.
Hey , Great work 👏👏 Keep it up and keep growing 💗💗 But as a friend or your subscriber i suggest you that you should hire a professional video editor. The editing quality of video need a lot of improvement. Plz focus on this!
Make sure you check with your accountant what type of gain the sale of the home is because you have a limited time to reinvest or you will be taxed at the highest tax level CAP GAIN
If you already have an existing mortgage then yes it does. you can do a refi to get into a lower interest rate in which your mortgage amount will decrease. In a cash out refi u are replacing the current mortgage with a new one pulling out your current equity so yes it will increase.
I’m trying to have people who need money purchasing houses or complexes and I can gain dividends from their work. I think there’s a website for it already but idk. I my heart literally cannot handle stress but I have money to give if the contract is clear
Love the vid! I work on wholesale and lease option agreements. I loss so much with renting and airbnb due to the area the property was in. I had a three month vacancy, which cost me hundreds because all utilities were included. Afterwards I tried airbnb and had the similar issues with the ppl complaining about the neighborhood. SMH Personally, I think I’ve had it with real estate... Trial and error though. If you plan on renting, make sure to double check their rental application and interview them twice if you need to! Ppl are scammers and will do anything to NOT pay rent… I learned that Demographics and location is everything! 💯💪🏽
Thank you for watching! Thats what i realized as i was screening potential tenants. Almost everyone i considered was lying on the application after i would call current landlord and employers. That is what made me get into airbnb. Its crazy how common it has become 🤦🏾♀️
Wow nice video it’s crazy my story is very similar to yours I bought my first property in a not so good neighborhood it’s not a bad street it’s quiet but there are houses that look bad and some that don’t have air conditioning. I definitely am not going to get 3 times what I paid for it but I am going to double my money real estate is way better than stocks. I say that because I am a stock guy turned real estate Investor. The reason real estate is better because you can control it, u can’t control stocks, stocks go up and down off buying pressure. I can’t wait to start flipping it’s insane I did a accidental flip on a house that I had planned to put on Airbnb I paid 230,000 for the house I put about 24,000 material and labor all in 254,000 it’s now worth about 370,000 oh and I bought that house last year. Future humble Billionaire
That's amazing, I always read that if you flip you have to always flip because it is not consistent income. But it is a great way to get your capital up for sure. I avoided capital gains tax with the sale of this home but for future flips bought under 2 years the IRS will tax a pretty penny off of the profits. 230k to 370k is insane in such a short amount of time, Good Luck with the sale! I started invested in crypto but heart will forever be with real estate for sure.
Did you watch the entire video? I sold a non profitable property in a bad location to develop two properties in a great location with my husband. As well as invest in both the middle east and in Africa. I have separate properties in which I own alone but what is wrong with investing with a spouse?
My hang up game strong too 😂 - appraisal walk through oh oh ok… thank you so much. 😂
Best air bnb is cash bought property. You don't go in negative or worry.
Absolutely not lol. Leverage is so important. Put as little down as possible in the best area you can. Nice areas bring high rent and less crappy guests. Then after a long time of appreciation and the guest paying off your home, sell it for a huge profit.
@@justcallmebon2684BINGO!! 💯
Hey ,
Great work 👏👏
Keep it up and keep growing 💗💗
But as a friend or your subscriber i suggest you that you should hire a professional video editor.
The editing quality of video need a lot of improvement.
Plz focus on this!
Thank you for the transparency
Hard work the key to success!! You will find your comfort zone
Thank you so much!
I understand...
Make sure you check with your accountant what type of gain the sale of the home is because you have a limited time to reinvest or you will be taxed at the highest tax level CAP GAIN
The TRANSPARENCY…..Thank you
Always, thank you!
When u do a cash out refinance does your mortgage increase?
If you already have an existing mortgage then yes it does. you can do a refi to get into a lower interest rate in which your mortgage amount will decrease. In a cash out refi u are replacing the current mortgage with a new one pulling out your current equity so yes it will increase.
Yes, you have to pay that money back.
I’m trying to have people who need money purchasing houses or complexes and I can gain dividends from their work. I think there’s a website for it already but idk. I my heart literally cannot handle stress but I have money to give if the contract is clear
Love the vid! I work on wholesale and lease option agreements. I loss so much with renting and airbnb due to the area the property was in. I had a three month vacancy, which cost me hundreds because all utilities were included. Afterwards I tried airbnb and had the similar issues with the ppl complaining about the neighborhood. SMH Personally, I think I’ve had it with real estate... Trial and error though. If you plan on renting, make sure to double check their rental application and interview them twice if you need to! Ppl are scammers and will do anything to NOT pay rent… I learned that Demographics and location is everything! 💯💪🏽
Thank you for watching! Thats what i realized as i was screening potential tenants. Almost everyone i considered was lying on the application after i would call current landlord and employers. That is what made me get into airbnb. Its crazy how common it has become 🤦🏾♀️
Wow nice video it’s crazy my story is very similar to yours I bought my first property in a not so good neighborhood it’s not a bad street it’s quiet but there are houses that look bad and some that don’t have air conditioning. I definitely am not going to get 3 times what I paid for it but I am going to double my money real estate is way better than stocks. I say that because I am a stock guy turned real estate Investor. The reason real estate is better because you can control it, u can’t control stocks, stocks go up and down off buying pressure. I can’t wait to start flipping it’s insane I did a accidental flip on a house that I had planned to put on Airbnb I paid 230,000 for the house I put about 24,000 material and labor all in 254,000 it’s now worth about 370,000 oh and I bought that house last year. Future humble Billionaire
That's amazing, I always read that if you flip you have to always flip because it is not consistent income. But it is a great way to get your capital up for sure. I avoided capital gains tax with the sale of this home but for future flips bought under 2 years the IRS will tax a pretty penny off of the profits. 230k to 370k is insane in such a short amount of time, Good Luck with the sale! I started invested in crypto but heart will forever be with real estate for sure.
@@MelaninMommyMillionaire did you see the video I recorded of my Airbnb and my duplex
@@levertis1987 going to watch now 🏃🏾♀️
😮😮 9😢❤❤
You need to improve video editing quality of video.
Please focus on this!
you sold a profitable property that was in your name only, to help finance a development with your husband?
Did you watch the entire video? I sold a non profitable property in a bad location to develop two properties in a great location with my husband. As well as invest in both the middle east and in Africa. I have separate properties in which I own alone but what is wrong with investing with a spouse?