Excellent foundation video for anyone considering becoming a Landlord. A great outline presentation makes all the information logically flow. Thank you Coach!
Coach Carson I'm so deeply thankful for you and to find you. I just bought a course but I'm learning a lot with you! You are great may our God bless you and your family! Thank you thank you thank you!
Your videos helped my husband and I buy our 2nd property. Thank you! We’re very happy. Do you have a video for folks that start this in their middle fifties with the goal of retirement in a few years? What’s special about these purchases? Anything different we should be looking for? Thank you!
Fabulously helpful. Thank you for the step by step approach, outlining potential pitfalls, as well. I like how you show how doable it is, but you don’t sugar coat it either.
Can you make a video on how you manage your rental properties/receive cash while your traveling in another country for 17 months like you did when you went to Ecuador with your family. How do you access your money from back home to use in Ecuador, and how do you know everything is taken care of back in the US and nothing can go wrong.
Thanks for sharing! Your videos are extremely helpful!! Do you see the majority of your students start by purchasing and living in a house hacks, or a non-owner occupied rental?
Thanks for watching and for the feedback! It's a mix between house hacks and non-owner occupied rentals for their first deal. If I had to guess I'd say 50:50 between the two. I LOVE house hacks, but I also know it's not feasible or desirable for everyone.
Been loving the videos. I'm hoping to purchase my first rental property in 2022 and videos like these are really helpful. I bought the book as well! Getting delivered tomorrow.
I remember when Jarvis played! I would have loved to have more defensive lineman like him in front of me when I played at Clemson. I appreciate you watching the video and your feedback.
I just subs to your channel. I appreciate your honesty and sharing some less “sexy” approach to investing which is important in balancing the risk vs. reward.
Thanks again Coach!! Also I downloaded the spread sheet but when I put zero for the interest rate, I'm getting errors for Loan princiapal paydowns, total return, total ROI, Total return, total ROI. I believe it stems from Loan Principal paydown since I'm paying only principal. I simpy don't know how to fix it??
Sorry to hear that, David. Can you help me understand where it was a problem. Did you already visit here and download the spreadsheet: www.coachcarson.com/rental-property-calculator-spreadsheet/ ? And it's a link that should open in your browser, and then you can save it to your computer.
As a newbie, I saved $50k for a rental in 2014. I missed out on two homes, each selling for $48k. I gave up on RE investing bc it seemed too hard. Saved $50k again in 2021. But still sitting on the sidelines, this time bc the homes I missed in 2014 are now selling for $300k.
Please, I need some honest advice. I have a $ 90,000 balance on my mortgage payment. The interest rate was 3.99%. I have $80k saved to buy a rental property, but the interest rate now is 7%. Do you advise that I use this saved money to pay down my mortgage and save up more money to start buying rental properties? That way, I don't have much debt to keep me restless at night 😅. Please advise
Great information! Thank you for sharing these resources. Is there a way you can post the video as well for fist time buyers for their first house not for investment yet, but hopefully transition eventually to be the first investment? What are the fees, and financial payables that a first-time buyer needs to be prepared for and not be blinded? Thank you
Thanks for sharing I'm happy to find your channel. I'm a newbie , started learning about wholesaling I am learning that I am more interested in focusing on rentals. Can you share what is the best way to get funding to buy rental properties.
Thanks for stopping by Karessa! I made a video about down payments here: th-cam.com/video/HTNsrbEWWrA/w-d-xo.html. There are many 30-year loan programs for first time buyers, especially if you house hack (live in one unit, rent out other parts of home or duplex, 3-plex, etc). Some financing programs to explore are FHA, VA (for veterans), USDA (for rural homes), and conventional loans (owner occupant or investor). I'd start with a mortgage broker who already does investment loans. Try to find a local investing meetup or club and ask investors who they use for loans.
Thanks for sharing! Have you ever done a balloon mortgage? It has to be payed in full in 10 years or refinance the remaining balance. Oh and it's 0% down too!
Hello, we offer fu Price $525k, 3% credit to buy down rate. We are in escrow but inspection came back and there is about 5k in work that’s must be done. I don’t want to ask for price reduction to cover repairs as that will affect the 3% rate buy down. What are my options maybe credit on closing cost?
Coach, What if you have about 175,000 in equity in your current home. Would would you play be? Thinking about out of state. I want to get a 4 plex....2,000 cash flow after all expenses.
Hi coach! Love your videos! Looking to start investing in rentals and I'm very nervous...went to look at 3 properties in Baltimore today and I desperately need someone with lots of experience advice...can I ask you your opinion on 2 that I saw? I would like to send the listing to you to see what you think if that's OK?
Hi Evelyn, I'd love to help but I'm not set up to look at individual deals right now. I'll be doing a coaching program this fall where I will be. In the meantime, do you know the Charm City Buyers? They're in Baltimore and seem to know their neighborhoods and the business very well. I'm happy to help here on the channel if you have general questions for now.
Amazing! Thank you so much for delivering such a great content. I have a quick question, coach: Since I'm living in a country with a whole different economy (Colombia), would all of this information still apply somehow?
The financing step will be different in Colombia than the US. And running the numbers will likely be different. When I lived in Ecuador, I remember that the rent to price ratio was a lot lower than in the US. But the concept of buying in the right location building a team, doing due diligence, etc I'm sure are all similar.
Thanks for sharing coach. I reside in Canada and I want to start acquiring our very first rental property since our main residence is about to be paid off next year.( 25 yrs contract but going to be paid off in it's 10th year!) Do you think this year is the right time as real estate here in Sask has gone up as well as the intetest rates? Or should we wait for the buyer's market? Thank you!
How do you feel about buying an out of state rental in cash with a HELOC, then paying the HELOC back with the cash flow? Thanks for the all the info. Considering doing just this in Ohio (I live in California and absoltuely cannot afford a rental here).
That's exactly what the couple in this video did: th-cam.com/video/3I_Hs8bT8jY/w-d-xo.html I recommend refincing the HELOC with a new mortgage unless you can pay it off very fast (a couple of years). A HELOC is a good short term tool but not something to keep debt on for the long term. Pay it back fast.
Hi Coach good day, thank you for this videos I learned a lot. I am a newbee in this industry and eager to take risk. I am about to loan a condo and build into a beds space rent, do you think it is a good strategy? Thank you coach
Thanks Joshua. Are you buying the condo? And by "beds space rent" do you mean renting out bedrooms? Whether it's a good deal depends on the numbers and the location.
hey coach if 2400 is your cash flow that's pretty low 1 can argue real estate investing is more making banks rich than yourself....and to achieve more cash flow you need multiple houses/loans right? to eventually have a higher cash flow then save and pay off your loans 1 by 1...am I getting this right? it's impossible to be financially free with just 1 house
I’m looking to start buying some single family rental properties. I’ve been saving for the last year or so. But I’m wondering is there an advantage to refinancing my personal home and using that as my down payment? Considering rates are pretty low. Is it better to hold onto my cash? FYI your info is awesome. And super easy to follow along the way you present it. Thanks for that. Sub’d.
I started a new segment on my channel called Ask Coach, and I used your question for the first episode. Check it out as I answer your question in great detail. Thank you for your question! th-cam.com/video/rBaNHpGjCgE/w-d-xo.html
thanks for asking. I have a course on analyzing deals: courses.coachcarson.com/p/rental-property-analysis and another on all the steps of buying a property (like contracts, due diligence, etc): courses.coachcarson.com/p/contract-to-closing those are both good places to build a foundation. I normally also do a live, bootcamp style course every spring and fall but I won't be teaching it until spring 2023 while I'm moving to Spain this fall. But that can be found at coachcarson.com/reds I appreciate your interest!
Hi coach. I purchased and took one of your courses. The course description offers having our questions answered by you. So, I asked a question in the chat a few days ago. I also sent it via email, but there is no response. I noticed that most of your comments to the course questions are from a year ago... if we purchased the course in October 2021, can we still receive feedback and answers to our questions? Thank you.
Nihad, I'm sorry I missed your question. I just saw it and will be happy to answer it in the course. Yes, in the courses you're free to ask questions anytime. My assistant and I are going to make an adjustment so I don't miss a question like that next time.
Coach I feel like the prices all over have gotten out of hand.. should I wait out the market for a correction or is there still enough potential out there
I've got an Ask Coach podcast/video coming for you some to answer your question, Vincent! It'll publish here on the channel or in podcast app March 25th.
It can be a good source to find investment properties to purchase. Some people also just buy the liens to collect interest. I've bought liens that turned into deeds for properties, and I've sent letter to properties owners with delinquent taxes to try and buy their property. Both have worked well.
Hey Coach! I am from Guayaquil -Ecuador but live in the US. Thanks for the info! How do you calculate the cash flow when you pay cash for the property? I still have a loan because I am doing a cash out refi but with no down payment, I am not sure how to show that in the calculations. Thanks!
Hola Nihad! I love Ecuador. The people there were so great to me and my family when we lived there in Cuenca in 2017/2018. If you pay cash, on the spreadsheet I shared you can just put 100% for down payment. And if you refinance and pull out ALL your cash with a loan (i.e. you borrow 100%), then you put 0% for the down payment. Hope that makes sense.
@@CoachChadCarson Hi Coach. Do you offer 1-1 coaching sessions? I am interested in buying my first rental property but I am having difficulty running the numbers. Thanks
Hi Luis, You can just add an extra line into spreadsheet for HOA or substitute it for something else, like the mortgage insurance if you don't have any.
I do live calls and discussion in my course Real Estate Deal School (www.coachcarson.com/REDS-YT) but unfortunately I haven't been able to offer any 1-1 calls lately. I appreciate you watching.
Learn from my mistakes as I analyze my *FIRST* rental property 17 years later! ► th-cam.com/video/9nYmlZfPF7Y/w-d-xo.html
What is your opinion on Air B n B's?
Excellent foundation video for anyone considering becoming a Landlord. A great outline presentation makes all the information logically flow. Thank you Coach!
Coach, I can’t believe you share these videos with the public without charging a penny. God will continue to bless you and your family.
Thank you David. I get value out of hearing it is helpful, so I appreciate the feedback.
Yes I can’t believe it also this information is so valuable
Tq
Completely agree
This was so helpful! I live near the largest military base in the world and the rental market is very good here. Thank you for the info, Coach!
Coach Carson I'm so deeply thankful for you and to find you. I just bought a course but I'm learning a lot with you! You are great may our God bless you and your family! Thank you thank you thank you!
I appreciate that! Glad you found the videos helpful. Who did you take a course from?
Your videos helped my husband and I buy our 2nd property. Thank you! We’re very happy. Do you have a video for folks that start this in their middle fifties with the goal of retirement in a few years? What’s special about these purchases? Anything different we should be looking for? Thank you!
Honestly bro you’re goated for making this freely accessible.
appreciate you watching! Wishing you all the best in your real estate journey.
Fabulously helpful. Thank you for the step by step approach, outlining potential pitfalls, as well. I like how you show how doable it is, but you don’t sugar coat it either.
I like the idea that this calculator has the paydown numbers on it and they appreciation it’s pretty cool I have to say.
Truly a god among men coach carson you are a legend
Thank you, Chad. You sure bless a lot of us learning with your extensive knowledge.
Thank you for your kind words, Karen!
Can you make a video on how you manage your rental properties/receive cash while your traveling in another country for 17 months like you did when you went to Ecuador with your family. How do you access your money from back home to use in Ecuador, and how do you know everything is taken care of back in the US and nothing can go wrong.
You are the best!
Thanks for the video!
I'm like... watch it on repeat 🙂 thanks Coach
You rock! Thanks for watching, Sid!
Awesome content, thanks coach.
Thanks for sharing! Your videos are extremely helpful!!
Do you see the majority of your students start by purchasing and living in a house hacks, or a non-owner occupied rental?
Thanks for watching and for the feedback!
It's a mix between house hacks and non-owner occupied rentals for their first deal. If I had to guess I'd say 50:50 between the two.
I LOVE house hacks, but I also know it's not feasible or desirable for everyone.
Coach Carson you seem to be a Naturally Nice Person. Thank you for All that you share !
I appreciate that, Ronald! Thank you for watching.
You’re Welcome! It’s coming straight from the Heart Both ways .
Been loving the videos. I'm hoping to purchase my first rental property in 2022 and videos like these are really helpful. I bought the book as well! Getting delivered tomorrow.
Great to hear!! Thanks for watching and getting the book. Let me know when you get that first rental in 2022. I love to celebrate with you!
Thanks Coach! I'm in!!! How much cash do I need to start?
Great advise. There's so much more in each category, but you nailed it. It's a slow and steady race to win the game.
Definitely more to learn! Thanks for the comment.
Great information again Coach Carson! It is very helpful for someone that is just starting to venture in this field.
Nice football helmet. I have tons of family in Clemson and my cousin Jarvis Jenkins played for them a few years back. Nice video BTW!
I remember when Jarvis played! I would have loved to have more defensive lineman like him in front of me when I played at Clemson.
I appreciate you watching the video and your feedback.
I just subs to your channel. I appreciate your honesty and sharing some less “sexy” approach to investing which is important in balancing the risk vs. reward.
Thanks for the subscribe! Great to have you on Team Coach Carson!
Awesome awesome, appreciate your simple direct way of presentation. I am in the middle of my 25 evaluations! Gonna make it happen!
Glad it was helpful. Good luck with the rest of those 25 evaluations!
I just moved out of California five months ago. A two bedroom condo in Orange County sells for half a million dollars and up! It’s insane.
Thank you!
You bet!
Man who sharing knowleage with us and do not want anything for return 🙏 keep going Coach
Appreciate that! Sharing my videos with your friends is always a big help if you're willing 🙏
Thanks, Couch.
Thanks again Coach!! Also I downloaded the spread sheet but when I put zero for the interest rate, I'm getting errors for Loan princiapal paydowns, total return, total ROI, Total return, total ROI. I believe it stems from Loan Principal paydown since I'm paying only principal. I simpy don't know how to fix it??
Thank you coach!
This is excellent!
Hi nice videos, can you send the rental property analysis excel sheet, thank you
Thank you! You can download it here: www.coachcarson.com/rental-property-calculator-spreadsheet/
Your video is packed with good information. Thank you so much.
Glad you liked it! Thanks for watching, Chong.
Man! This information is Gold!
Thanks Amandeep!
Very Accurate... Thanks!
Glad it was helpful!
Very good piece.
Many thanks!
Thank you, God bless you.
I love how easy you make your break downs!!
Hi There Coach. Thank you for the spreadsheet! However, it will not open...
Sorry to hear that, David. Can you help me understand where it was a problem.
Did you already visit here and download the spreadsheet: www.coachcarson.com/rental-property-calculator-spreadsheet/ ?
And it's a link that should open in your browser, and then you can save it to your computer.
This video is immensely helpful- Thank you so much!
Glad it was helpful! Thanks for the feedback.
What about a HELOC?
Thank you so much Coach! Such helpful info!
You're so welcome! Thanks for watching, Ang
Your best video on the overall process !!!
Thank you Mike!
Great Analysis Coach, thank you
My pleasure! thanks for watching.
Thx a lot Coach🙏 for sharing this impactful teaching🙏
Glad it was helpful! Thank you for watching, Ronke.
As a newbie, I saved $50k for a rental in 2014. I missed out on two homes, each selling for $48k. I gave up on RE investing bc it seemed too hard. Saved $50k again in 2021. But still sitting on the sidelines, this time bc the homes I missed in 2014 are now selling for $300k.
What do those $300,000 homes rent for in your location? Would you consider getting a loan to buy one if the numbers make sense?
Thank you, helpful.
Glad it was helpful!
Please, I need some honest advice. I have a $ 90,000 balance on my mortgage payment. The interest rate was 3.99%. I have $80k saved to buy a rental property, but the interest rate now is 7%. Do you advise that I use this saved money to pay down my mortgage and save up more money to start buying rental properties? That way, I don't have much debt to keep me restless at night 😅. Please advise
Thank you!!! This is really helpful.
Glad it was helpful!
Great analysis. Thanks
Glad you liked it! I appreciate you watching.
Great insights, coach.
Appreciate it! Thanks for watching.
Yes Coach
🙌
Great information! Thank you for sharing these resources. Is there a way you can post the video as well for fist time buyers for their first house not for investment yet, but hopefully transition eventually to be the first investment? What are the fees, and financial payables that a first-time buyer needs to be prepared for and not be blinded? Thank you
Thanks for sharing I'm happy to find your channel. I'm a newbie , started learning about wholesaling I am learning that I am more interested in focusing on rentals. Can you share what is the best way to get funding to buy rental properties.
Thanks for stopping by Karessa! I made a video about down payments here: th-cam.com/video/HTNsrbEWWrA/w-d-xo.html. There are many 30-year loan programs for first time buyers, especially if you house hack (live in one unit, rent out other parts of home or duplex, 3-plex, etc). Some financing programs to explore are FHA, VA (for veterans), USDA (for rural homes), and conventional loans (owner occupant or investor). I'd start with a mortgage broker who already does investment loans. Try to find a local investing meetup or club and ask investors who they use for loans.
Thanks for sharing! Have you ever done a balloon mortgage? It has to be payed in full in 10 years or refinance the remaining balance. Oh and it's 0% down too!
Hello, we offer fu
Price $525k, 3% credit to buy down rate. We are in escrow but inspection came back and there is about 5k in work that’s must be done. I don’t want to ask for price reduction to cover repairs as that will affect the 3% rate buy down. What are my options maybe credit on closing cost?
Coach, What if you have about 175,000 in equity in your current home. Would would you play be? Thinking about out of state. I want to get a 4 plex....2,000 cash flow after all expenses.
Have you considered a HELOC to use that equity?
Where is the template please and thanks for your video
Here's the spreadsheet: www.coachcarson.com/rental-property-calculator-spreadsheet/
Hi coach! Love your videos! Looking to start investing in rentals and I'm very nervous...went to look at 3 properties in Baltimore today and I desperately need someone with lots of experience advice...can I ask you your opinion on 2 that I saw? I would like to send the listing to you to see what you think if that's OK?
Hi Evelyn, I'd love to help but I'm not set up to look at individual deals right now. I'll be doing a coaching program this fall where I will be. In the meantime, do you know the Charm City Buyers? They're in Baltimore and seem to know their neighborhoods and the business very well. I'm happy to help here on the channel if you have general questions for now.
Also - a question for you ... you mentioned you're nervous. What would you say you're most nervous about? That may tell you and me a lot.
Man this is stressing me out
Amazing! Thank you so much for delivering such a great content. I have a quick question, coach: Since I'm living in a country with a whole different economy (Colombia), would all of this information still apply somehow?
The financing step will be different in Colombia than the US. And running the numbers will likely be different. When I lived in Ecuador, I remember that the rent to price ratio was a lot lower than in the US. But the concept of buying in the right location building a team, doing due diligence, etc I'm sure are all similar.
What part of Colombia do you live in?
Alright, Coach. I'll take that into account. I'm living in Ibague City, it's a place with a population of 530.000 people. It's growing rapidly.
Buena suerte! Espero que vaya bien.
Thanks for sharing coach. I reside in Canada and I want to start acquiring our very first rental property since our main residence is about to be paid off next year.( 25 yrs contract but going to be paid off in it's 10th year!) Do you think this year is the right time as real estate here in Sask has gone up as well as the intetest rates? Or should we wait for the buyer's market? Thank you!
How do you feel about buying an out of state rental in cash with a HELOC, then paying the HELOC back with the cash flow?
Thanks for the all the info. Considering doing just this in Ohio (I live in California and absoltuely cannot afford a rental here).
That's exactly what the couple in this video did: th-cam.com/video/3I_Hs8bT8jY/w-d-xo.html
I recommend refincing the HELOC with a new mortgage unless you can pay it off very fast (a couple of years). A HELOC is a good short term tool but not something to keep debt on for the long term. Pay it back fast.
Hi Coach good day, thank you for this videos I learned a lot. I am a newbee in this industry and eager to take risk. I am about to loan a condo and build into a beds space rent, do you think it is a good strategy? Thank you coach
Thanks Joshua. Are you buying the condo? And by "beds space rent" do you mean renting out bedrooms?
Whether it's a good deal depends on the numbers and the location.
hey coach if 2400 is your cash flow that's pretty low 1 can argue real estate investing is more making banks rich than yourself....and to achieve more cash flow you need multiple houses/loans right? to eventually have a higher cash flow then save and pay off your loans 1 by 1...am I getting this right? it's impossible to be financially free with just 1 house
The spread sheet doesn’t work for me. Is it still available?
Sorry about that. Did you try this link? www.coachcarson.com/rental-property-calculator-spreadsheet/
I’m looking to start buying some single family rental properties. I’ve been saving for the last year or so. But I’m wondering is there an advantage to refinancing my personal home and using that as my down payment? Considering rates are pretty low. Is it better to hold onto my cash? FYI your info is awesome. And super easy to follow along the way you present it. Thanks for that. Sub’d.
I started a new segment on my channel called Ask Coach, and I used your question for the first episode. Check it out as I answer your question in great detail. Thank you for your question! th-cam.com/video/rBaNHpGjCgE/w-d-xo.html
Where can I buy your course ? I want to prepare myself before buying my first rental property.
thanks for asking. I have a course on analyzing deals: courses.coachcarson.com/p/rental-property-analysis and another on all the steps of buying a property (like contracts, due diligence, etc): courses.coachcarson.com/p/contract-to-closing
those are both good places to build a foundation. I normally also do a live, bootcamp style course every spring and fall but I won't be teaching it until spring 2023 while I'm moving to Spain this fall. But that can be found at coachcarson.com/reds
I appreciate your interest!
Hi coach. I purchased and took one of your courses. The course description offers having our questions answered by you. So, I asked a question in the chat a few days ago. I also sent it via email, but there is no response. I noticed that most of your comments to the course questions are from a year ago... if we purchased the course in October 2021, can we still receive feedback and answers to our questions? Thank you.
Nihad, I'm sorry I missed your question. I just saw it and will be happy to answer it in the course. Yes, in the courses you're free to ask questions anytime. My assistant and I are going to make an adjustment so I don't miss a question like that next time.
Coach I feel like the prices all over have gotten out of hand.. should I wait out the market for a correction or is there still enough potential out there
I've got an Ask Coach podcast/video coming for you some to answer your question, Vincent! It'll publish here on the channel or in podcast app March 25th.
@@CoachChadCarson thanks... I'll keep my eyes open for it
what is your take on Tax liens?
It can be a good source to find investment properties to purchase. Some people also just buy the liens to collect interest. I've bought liens that turned into deeds for properties, and I've sent letter to properties owners with delinquent taxes to try and buy their property. Both have worked well.
@@CoachChadCarson thanks!!
Hey Coach! I am from Guayaquil -Ecuador but live in the US. Thanks for the info! How do you calculate the cash flow when you pay cash for the property? I still have a loan because I am doing a cash out refi but with no down payment, I am not sure how to show that in the calculations. Thanks!
Hola Nihad! I love Ecuador. The people there were so great to me and my family when we lived there in Cuenca in 2017/2018.
If you pay cash, on the spreadsheet I shared you can just put 100% for down payment. And if you refinance and pull out ALL your cash with a loan (i.e. you borrow 100%), then you put 0% for the down payment.
Hope that makes sense.
@@CoachChadCarson Hi Coach. Do you offer 1-1 coaching sessions? I am interested in buying my first rental property but I am having difficulty running the numbers. Thanks
I just purchased your rental property analysis course. Hopefully we have an opportunity to chat at some point. Thanks!
why count that other profit if we plan on not refinancing or selling the house
Hey man, how do you keep track of your properties?
Bookkeeping: quick books. Also use Google sheets for big picture tracking of property progress, insurance policies, etc. Hope that helps!
could someone tell me where should i include in the spreadsheet the CondoFee/HOA ?
Hi Luis,
You can just add an extra line into spreadsheet for HOA or substitute it for something else, like the mortgage insurance if you don't have any.
How do I get the spreadsheet?
right here: www.coachcarson.com/rental-property-calculator-spreadsheet/
It's also in the description.
Water heater. Hot water doesn’t need heated.
Hi how can I reach to you please let me know .Thanks have a nice day
I do live calls and discussion in my course Real Estate Deal School (www.coachcarson.com/REDS-YT) but unfortunately I haven't been able to offer any 1-1 calls lately. I appreciate you watching.
A mentor asked me to pay $3000 usd for something you giving for free May god bless you
glad you found it helpful! Thanks for watching.
True
🎁