How To Get Started In Real Estate With 50k (No FHA)
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- เผยแพร่เมื่อ 4 ต.ค. 2024
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Thanks for watching!!
How do you find a great team when you’re new to the market? Or purchasing out of state?
Join a Facedbook group in the area your interested in.
I would probably try to find a seller financing deal and rent it to section 8 you might be able to get some business funding if you put it in a bank to grow the 50k
Have you ever just done a subject to? Especially with a seller that has no equity
Always good content Bro Appreciate you one love.
9:53 incredible gem!!!!
The answer has to start with what your Ultima goal is. Do you want cash flow, or asset appreciation, and over what time. On the cashlow side, I think Matt's answer is spot on. Other ways to invest in high cost cities is to joint venture with other investors to take on local properties. If your looking for asset appreciation over a shorter time, what we're doing is raising cash for flips in NYC starting at $50k, offering 20-30% annualized return to investors, with 6-12 month term. Of course the flip route is a higher risk strategy, but the return is also adjusted for that risk.
Love this format!
My guy 💯💪🏽
Definitely some to think about cash flow or asset appreciation. Thanks for that gem
Can you go to school to learn this and do you also go for like home improvement or property management as well? This is kinda what I’m thinking to do but just want to know what field can really expand my knowledge in and out on the real estate business
Your strategies and techniques are accurate. I am using them and all I had to start was $30K. You are spot on in KNOWING the market and what’s happening. For example, local regulations that may impact the purchase. Specifically, Lead certification requirements. Also, some certain common behaviors in dealing with properties in the Cleveland are what I call band aiding the repairs. Many properties have NEVER been properly repaired. Example two layered roofs, fuse box wiring. Be prepared to handle this, so that you have a quality safe product.
Is a $70K turnkey duplex even a real thing anywhere? Even in the midwest locations. That sounds too good to be true. Let me call Bone Thugs N Harmony and see what’s poppin in Da Land.
I have some nice ones in Toledo Ohio bro ! This is normal to us, blows my mind when people think that’s not a real thing lol
@@jacobconineco9396 I need to get the hell away from DC to get these reasonable deals. Are you an agent or wholesaler out there?
@@CousinCornbread I’m a buy and hold investor
@Cousin cornbread yes. This is a real thing. I bought 2 turnkey duplexes turnkey for $30,000. Not 300k, 30k. It was little rough and needed small work, but it was bringing in $1,000 month.
@@jacobconineco9396 roger that. Cool.
Buy land in Great area . Then get credit to buy building materials then build your on house 🏠 yourself in stages. Buy prime land . Always remember if you own the land you can only go forward.
Detroit has 2 property tax per year summer and winter tax.
Also you have to factor in vacancies .
Also why risk 50k when you don't own free and clear ? Don't use your own money 💯. Be creative with your financing. Use 50k to build credit for unsecured credit. When you spend cash buy free and clear property .
I would buy manufactured homes and rent them out-Short or Long Term-on land already owned and/or not.
I love your videos..your channel really explain things unlike other channels just saying owe I can get you this this this....great breakdown my brother
Great Info! Great Question
How do you feel about syndications? What if that person could invest in a bigger deal with the whole 50k how you feeling about that?
We need more
How do you research the market? What areas are you looking for?
Good stuff I love this
Beautifully summarized!
I agree with you
Thanks 🙏
It's awesome
Thanks for sharing!!
A $70k turnkey duplex, in a good area? Where..
Great info
What do you think about DSCR loans MG?
A turn key duplex for 70k? I don't know man
What do you think about crowdstreet
I didn’t know Detroit and Milwaukee were states 🙄🙄🙄
What's your thoughts on tiny homes?
Wow. Informative
Mortgage increases while property taxes increase
Property taxes increasing only means your home value is rising, building equity.
Hi, do you live in the Cleveland area?
Nice work.
Great
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Sounds good doesn’t work this way in the real world
I've help hundreds of people with only 50k buy real estate exactly how I'm explaining it.
@@Mgthemortgageguy past performance does not guarantee future performance. The interest rate are expected to raise even more in 2023 and half of 2024. $50k doesn’t buy what it use to over the last 10 years and it more
Important now to make sure you aren’t buying something that is low cashflow and low appreciation just to buy a few to get started. Better to buy one good one keep more in reserves and look to invest in whatever the barrier is to not wanting to use owner financing to get a great property while their are less buyers in the market.
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Like and the da** video ppl
Good insight.
I will agree with you
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