8 Rental Units in Under 1 YEAR (Starting with NO Money)

แชร์
ฝัง
  • เผยแพร่เมื่อ 27 พ.ย. 2024

ความคิดเห็น • 275

  • @BUILDYBUNCH
    @BUILDYBUNCH 9 หลายเดือนก่อน +11

    No guts, no glory. You put it all out there. Thanks for sharing.

    • @ItsTimYu
      @ItsTimYu 9 หลายเดือนก่อน

      Thank you! It’s been a fun / wild ride so far.

  • @haysus
    @haysus 10 หลายเดือนก่อน +241

    Title says “starting with no money”. Should have said starting with a VA loan and an investment account. C’mon guys..be real, no clickbait.

    • @christopherkelly9985
      @christopherkelly9985 7 หลายเดือนก่อน +13

      Yeah agreed

    • @juliocesarcortez1660
      @juliocesarcortez1660 6 หลายเดือนก่อน +9

      Agreed, Anything for views now this days smh

    • @ShikharSharma1398
      @ShikharSharma1398 6 หลายเดือนก่อน +10

      With no money would imply no money in his bank account from his earnings/savings. How tf do yo expect someone buying a rental unit with "NO Money" ?

    • @andrewfisher8793
      @andrewfisher8793 6 หลายเดือนก่อน

      ​@@juliocesarcortez1660qaaaaqqaaqaqa😊😊Aaaaaa😊

    • @haviick1014
      @haviick1014 5 หลายเดือนก่อน +3

      @@ShikharSharma1398why would they title the video as such ? 😂😂

  • @matchlessmaintenanceandmor9509
    @matchlessmaintenanceandmor9509 ปีที่แล้ว +8

    Love you guys!!! I truly appreciate everything you do to bring us these stories and all the information… you guys are a wonderful blessing

  • @litos2cold906
    @litos2cold906 8 หลายเดือนก่อน +3

    Just comming across this podcast I will be more in touch. I’m from Louisville aswell been a home owner since 2017 and just not buying my first investment property, I plan on getting a real estate license this year to get the ball rolling. This guys is pretty inspiring for me to get started can’t wait to

    • @danahoward759
      @danahoward759 5 หลายเดือนก่อน

      Best Wishes on your journey.
      I work at Ford in Louisville, but I'm from Lexington. I'm ready to retire and browsing the websites for my first rental home..it's intimidating to take the leap, there's so many unknowns on a distressed property. But I'm eager to get started

    • @jordan.kyrealtor
      @jordan.kyrealtor 3 หลายเดือนก่อน

      @@danahoward759do you need a realtor? Do you have one? I’m in Louisville as well. Let’s connect!

  • @rell9161
    @rell9161 2 หลายเดือนก่อน +5

    I bought a duplex with just $2500.00 down with a fha also I was lucky enough to catch the grant they give me of $17,500 for closing cost which I don't have to pay back unless I sell within the year . I also got a $10,000 credit due to some minor repairs needed to be done . After closing I actually walked away with $1,400 so really got the house with $1,100 of my own money in a C class area but currently house hacking until I get another one next year. Its possible to use little money but there is always a transaction, title is very misleading. But congrats to getting 8 in a short period of time.

    • @ItsTimYu
      @ItsTimYu 2 หลายเดือนก่อน +1

      Yeah - I wish the title wasn't so click baity. But so glad you got a dope deal with an FHA Loan... sounds killer.

    • @rell9161
      @rell9161 2 หลายเดือนก่อน +1

      @@ItsTimYu yeah man can’t wait for my next one

    • @EVNL576
      @EVNL576 หลายเดือนก่อน

      Where did you buy it?

    • @rell9161
      @rell9161 หลายเดือนก่อน

      @@EVNL576 Rhode Island

  • @richardjudge2322
    @richardjudge2322 ปีที่แล้ว +8

    Thank You Tony and Ashley.

  • @frankcisco9898
    @frankcisco9898 ปีที่แล้ว +9

    This was a great episode! Really motivational for us rookies!

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      Thanks brother! Appreciate you commenting.

  • @heididominguez2224
    @heididominguez2224 ปีที่แล้ว +5

    This is a very, very helpful edition. Thank you guys for sharing.

  • @richardjudge2322
    @richardjudge2322 ปีที่แล้ว +5

    Thanks for sharing Tim Yu.

  • @willmclean8630
    @willmclean8630 8 หลายเดือนก่อน +7

    It's called the VA funding fee and you have to be rated 10% or higher to qualify

    • @ItsTimYu
      @ItsTimYu 6 หลายเดือนก่อน

      No you do not. You do not have to be rated at all to use a VA Conventional Loan

    • @willmclean8630
      @willmclean8630 6 หลายเดือนก่อน +1

      @@ItsTimYu to avoid the VA funding fee

    • @ItsTimYu
      @ItsTimYu 6 หลายเดือนก่อน

      @@willmclean8630Ah yes, makes sense now. Luckily, you can get it rolled up into the loan which is what I did.

  • @mainstreetsilverback
    @mainstreetsilverback ปีที่แล้ว +3

    Congrats and thanks for serving our country. 👍

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      Thank you my friend!

  • @shantelljones6954
    @shantelljones6954 8 หลายเดือนก่อน +16

    I bought my first rental with a business credit card.

    • @ChanceStemMovingMaryland
      @ChanceStemMovingMaryland 8 หลายเดือนก่อน +3

      Woah, that's new lol. I'd be curious to see how that went. If you ever need any funding for any of your deals please let me know. We do Fix and Flip and DSCR Loans. Also what area are you in?

  • @gailmarian5330
    @gailmarian5330 ปีที่แล้ว +4

    Im in the same boat like the guest, but will have to find a way to get started .

  • @hu90802
    @hu90802 ปีที่แล้ว +2

    What a smart bunch, really glad I stumbled upon this video.

  • @alexpham2
    @alexpham2 ปีที่แล้ว +3

    This is inspirational! gives me hope

  • @MikePhoTravelVlogs
    @MikePhoTravelVlogs 5 หลายเดือนก่อน +2

    ‼️✅Awesome Video! And a lot of great information ℹ️ but one thing I can’t seem to find the answer to is when the seller does a sub 2 deal aren’t the sellers name still on the mortgage and you just pay their mortgage. But the seller name is still on mortgage? Which means sellers can’t get another mortgage because they are tied up on the sub 2 deal Or are the sellers completely no more ties to mortgage and it’s in your name now? I know they sign the deed over but what about the mortgage. I’m confused 🤔😫Thanks so much in advance 🙏and sorry if the questions makes no sense

    • @danahoward759
      @danahoward759 5 หลายเดือนก่อน

      Interesting, never thought aboit that.
      Great questions!!
      Also, what does it say on the credit report, does that mortgage just drop off your credit report, does it show that the home was sold?
      I have a lot of questions as well

    • @ItsTimYu
      @ItsTimYu 3 หลายเดือนก่อน

      The debt will remain on the sellers credit report, so thats the risk for the seller. However, as the mortgage gets performed on, over time the DTI will reduce. But the seller will need to speak with a loan officer/underwriter to make sure how they look for their next property if they do want to get a loan.

  • @MonteMitchell
    @MonteMitchell 5 หลายเดือนก่อน

    I like reading the comments before watching the full video. Saved me an hour of my time.

  • @obedjacquet8352
    @obedjacquet8352 5 หลายเดือนก่อน

    This interview just gave me a boost of confidence to try hard money lending for my next real estate investment. Thanks dude.

    • @ItsTimYu
      @ItsTimYu 2 หลายเดือนก่อน

      Lets go bro! Most hard money lenders will tell you if its a rly bad deal. Most try to protect the investor... find the right one!

  • @tyjameson7404
    @tyjameson7404 ปีที่แล้ว +5

    Great interview!! This guy was amazing on his vision and leverage 🔥🙌🏾👊🏽👏🏿💪🏾

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว +1

      Thank you my friend!!!

  • @antoniostephano
    @antoniostephano ปีที่แล้ว +12

    Love the grocery store analogy for subject to but it would have been nice if he gave credit to Pace Morby from whom I am sure he "borrowed" the analogy. Also surprised neither of the host acknowledged Pace Morby who was on the show and undoubtedly used that analogy (assuming he explained subject ro). Kudos for the guests successs regardless of where he heard the anaolgy!😊

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว +11

      I did give him credit, I said I was in his mentorship I believe. I’m a Subto student :)

    • @cloroxbleach5593
      @cloroxbleach5593 ปีที่แล้ว +11

      Boi idk what you watching I heard it clear

    • @therealashleycrouch
      @therealashleycrouch ปีที่แล้ว +7

      I heard him credit Pace

    • @MaxCashFlows
      @MaxCashFlows ปีที่แล้ว +3

      22:51 back it up a minute and you hear paces name several times

    • @wyattpowers9618
      @wyattpowers9618 ปีที่แล้ว +2

      He did state that it was from Pace Morby and subject to lol.

  • @danahoward759
    @danahoward759 5 หลายเดือนก่อน +4

    I love his story.. I'm from Lexington KY, but he didn't really start with "No" money

  • @eriqblanchard22
    @eriqblanchard22 8 หลายเดือนก่อน +1

    I just closed on my 9th after being in business for 16 months. My story is a lot different, but it has been a ride. I’d love to talk to the bigger pockets crew one day!

    • @BubblySkittles14
      @BubblySkittles14 8 หลายเดือนก่อน +1

      Congrats🎉🎉🎉🎉 May I ask how did you get started?

    • @eriqblanchard22
      @eriqblanchard22 8 หลายเดือนก่อน +1

      @@BubblySkittles14 I found an investor to put down 20% on my first property and paid them a return after I refinanced and then utilized the brrrr method!

  • @planetrewind615
    @planetrewind615 4 หลายเดือนก่อน

    Very inspiring content! May want to update the end as with the change to buyer agent commissions buyers actually now may have this fee.

  • @killersentra
    @killersentra 7 หลายเดือนก่อน +2

    When the ressession or draft hits. Lets do a update with this man.

    • @ItsTimYu
      @ItsTimYu 3 หลายเดือนก่อน +2

      I am still alive and well!

    • @lustatus
      @lustatus หลายเดือนก่อน

      People dont understand that he built equity in his deals so when the market tank he still flooding above water with a life jacket on

  • @EricKing-p4i
    @EricKing-p4i 11 หลายเดือนก่อน +1

    Problem with SUB-TO is that the property remains in the sellers name so if the purchaser stops making payments for any reason the seller is still on the hook. Additionally, lenders don't really like sub to so alot of them end up calling the loan.

    • @HEERAJANG-lx3ok
      @HEERAJANG-lx3ok 10 หลายเดือนก่อน

      Hello! I am new to the community and currently in the learning phase. Having said that, i think I may have the incorrect understanding of sub-to based upon reading this comment. Isnt the concept of sub-to, at the end of the day, all about transferring everything over to the new seller?? The deed, title, mortgage loan, everything?? Although I am curious then 🤔 wouldn't that just be simply just purchasing the home from the seller like a normal sell?
      Looking forward to reading the fact-check.
      Thank you!!

    • @pearlh3248
      @pearlh3248 10 หลายเดือนก่อน +1

      Sub-to means subject to the existing mortgage. The only thing being transferred is the deed and possession. The loan remains the same and in the sellers name.

    • @hollywoodhomes4373
      @hollywoodhomes4373 9 หลายเดือนก่อน +1

      Better go watch pace morby so you understand

    • @OneLeggedTarantula
      @OneLeggedTarantula 6 หลายเดือนก่อน

      No, title transfers. in fact sellers credit is toast if buyer defaults.

  • @ollie5226
    @ollie5226 ปีที่แล้ว +3

    Great Story this is a must listen please share!

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      Thanks my friend! Thanks for the comment. How are you in your journey?

    • @ollie5226
      @ollie5226 ปีที่แล้ว +1

      @@ItsTimYu great brother this is Jon bro! Ollie is my alias on youtube. I will soon open a seperate youtube account to match my tiktok and Instagram/Facebook and start making more videos on wholesaling and vlog my journey. I also plan on makeing before and after videos on the house Angie hooked us up with. I really liked your story on the pod cast its very real and unfiltered.

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      @@ollie5226 I love this!

  • @KYnecktid
    @KYnecktid 11 หลายเดือนก่อน +3

    Louisville stand up!! @itstimyu keep it up and great advice! My first buy and hold was sub-to. Kinda stuck now and looking for funding to acquire more rentals.

  • @Daveishification
    @Daveishification 8 หลายเดือนก่อน +2

    How much time from the acceptance of an offer does an investor have to find funding?

    • @ol_jasper6043
      @ol_jasper6043 8 หลายเดือนก่อน +2

      Generally you want your financing figured out before you can give a valid offer

  • @eringray7044
    @eringray7044 9 หลายเดือนก่อน +2

    When investors are pulling in this many properties in such a short time...Do they have emergency funds set up for those properties? Right now my husband is in a bit of a "freeze" on wanting to buy anything because he wants to have emergency funds set up for every property that we have.

    • @ItsTimYu
      @ItsTimYu 8 หลายเดือนก่อน

      Hi there! I def have an emergency fund and also throw at least 15% of my monthly rents into my "warchest"! Most of my deals were creative finance with terms that allowed to give me some flexibility.

  • @Jason.Lee.rei.
    @Jason.Lee.rei. 10 หลายเดือนก่อน +1

    Let’s go! Nice work Tim!

  • @arlenemurphy781
    @arlenemurphy781 9 หลายเดือนก่อน +1

    Very helpful video. Thanks!

  • @therealissajo
    @therealissajo 6 หลายเดือนก่อน +1

    Thank you for this, you guys are amazing.

  • @glamorgirly
    @glamorgirly 7 หลายเดือนก่อน

    This is so inspirational Tim! No RE experience but you convinced a lender to lend 90% LTV.

    • @ItsTimYu
      @ItsTimYu 3 หลายเดือนก่อน

      Hey! I know you!

  • @dennishowland7495
    @dennishowland7495 ปีที่แล้ว +3

    The best way to finance a Projects we don’t have the money I see a lot of people do protocols my friend bought a credit card he bought a house with a credit card

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      An entire property with credit? That’s nuts!!!

    • @dreamcatchinbebo4080
      @dreamcatchinbebo4080 ปีที่แล้ว +1

      Hi, I bought 2 three family buildings with 2 credit cards. Seller financing.

    • @cryptwood
      @cryptwood ปีที่แล้ว

      How the money goes from a credit card to seller's pocket?

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      @@cryptwood Hi there - I personally have not used a credit card to physically purchase a property. I have seen investors wire money to title companies through 3rd party apps like Plastiq though.

  • @jacobolmos2475
    @jacobolmos2475 6 หลายเดือนก่อน

    When buying a fixer-upper and having remodeling done by a GC. Is getting approved by the inspector the only obstacle??

  • @RJVrealtor
    @RJVrealtor ปีที่แล้ว +4

    On that first purchase, why would the seller have accepted a cash offer without proof of funds? My biggest hesitation is making offers without funding lined up, even though I know everybody says it find the deal and the funding will come
    As an agent, I would not advise my seller to except an offer without proof of funds

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว +2

      Hi there - just to clarify, I had a POF or pre approval for normal financing prior to me searching for a rental property. Then decided to use a hard money loan after I learned about it. Hope this makes better sense!

    • @Lynaka1
      @Lynaka1 ปีที่แล้ว +1

      Why would you not use the traditional financing instead of liquidating your 401K?

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      @@Lynaka1didn’t have enough for the Downpayment!

    • @Anonyme67
      @Anonyme67 ปีที่แล้ว

      @@ItsTimYuplease don’t rush to much. We want you to succeed. Try to pay off some of your properties. Best wishes

    • @RochelleParker-Mckenzie
      @RochelleParker-Mckenzie ปีที่แล้ว +1

      We do it all the time because there are hundreds of HML that will give funds

  • @donpham5496
    @donpham5496 ปีที่แล้ว +3

    Great story.

  • @tylergherman
    @tylergherman 8 หลายเดือนก่อน +5

    Impressive numbers in a year but maybe I missed it, do any of these even really cash flow. Impressive to get a lot of property but a few of these don't sound like they'd be profitable at all.

  • @Luisvegabroker
    @Luisvegabroker 9 หลายเดือนก่อน +1

    I need to start this year and could use some guidance

  • @antoniostephano
    @antoniostephano ปีที่แล้ว +4

    Oops I spike too soon .22:20

  • @HappyCampersRescueRanch
    @HappyCampersRescueRanch ปีที่แล้ว +7

    This is an awesome story ! I'd love to share mine in how in turned my ten acre homestead into a successful Glampsite 😀
    From one rental to 10 over night 😉

    • @fredoman2683
      @fredoman2683 ปีที่แล้ว +1

      Sounds awesome

    • @HappyCampersRescueRanch
      @HappyCampersRescueRanch ปีที่แล้ว +1

      @fredoman2683 thanks! We rent kayaks, pedal boats, ebikes, projector screens on site near Rainbow Springs, and now Uhauls !

    • @fredoman2683
      @fredoman2683 ปีที่แล้ว +1

      This sounds even better, I'm in California. Are you in Florida?

    • @HappyCampersRescueRanch
      @HappyCampersRescueRanch ปีที่แล้ว +1

      @fredoman2683 yes ten minutes from Rainbow Springs 🌈 ⛺️

    • @kimmiepnguyen1
      @kimmiepnguyen1 11 หลายเดือนก่อน +1

      @happyCampersrescueranch you have an awesome yourself!

  • @johnjr7673
    @johnjr7673 หลายเดือนก่อน +1

    There is no start with 0, it always starts with some kind of bag

  • @rass1818
    @rass1818 9 หลายเดือนก่อน

    You need to research contract laws in the state you are working out of for there protection and yours. State contracting board has information and self help areas as well.

  • @EVNL576
    @EVNL576 หลายเดือนก่อน

    Tips of where to find partners to fund your flips and GC that are so cheap. Literally, to renovate a kitchen is no less than $30k, bathroom, $15k, floors $8k, windows $17k etc. Is there a good list of partners and GC since most money goes there?😓

  • @meritholdingllc123
    @meritholdingllc123 ปีที่แล้ว +2

    Always bet on yourself. Way to go.

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      Thank you my friend! Love to connect with you!

    • @VomRodriguezRottweilers
      @VomRodriguezRottweilers 7 หลายเดือนก่อน

      @@ItsTimYu I’m having trouble getting a hard money lender to help me out cause I’m a new investor. Is there any way you can guide me in the right direction to getting a hard money lender that approves rookies like myself lol. I’m in California by the way. Thanks in advance!

  • @hxncho_in_a_ss3807
    @hxncho_in_a_ss3807 7 หลายเดือนก่อน

    I wish this young guy nothing but the best . But he hasn’t ran into a chaos like 2008 I had 6 doors and boy this pandemic knock me out I was 22 when I got my first 2 doors

  • @EEZYEEEE
    @EEZYEEEE 4 หลายเดือนก่อน

    Where does one look to find Subject 2 opportunities?

  • @fredkim01
    @fredkim01 ปีที่แล้ว +1

    Without listening, this has to be masterlease deals

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      Two of my deals are absolutely lease options! Good pick-up brother!

    • @fredkim01
      @fredkim01 ปีที่แล้ว +1

      @@ItsTimYu otherwise, how would you do it without money 😅😅😅

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      @@fredkim01Haha yep, the Downpayment / entry fee is covered by the tenant buyer.

  • @pebbelstar
    @pebbelstar 7 หลายเดือนก่อน

    Honestly I'm scared for this kid but excited for his future it's anything can pull off what this kid I'd is doing its some one with optimism

  • @johnkomaniecki
    @johnkomaniecki ปีที่แล้ว +4

    Hi All, can anyone please clarify if subject to works well in both title theory and lien theory states? I'm assuming there has to be difference because i dont see banks simply agreeing with someone else taking over their mortgage especially WITHOUT them being notified. Thanks!

    • @nadruik9890
      @nadruik9890 ปีที่แล้ว +1

      The banks dont know usually and if they were to find out would likely demand payment in full to reloan that principle at the new higher rates.. My understanding is if there is ever a housing crisis (or maybe just an issue with the one property) they can just mail the deed back to the poor nurse and she'll be financially ruined, and if housing takes off they can register the deed and take over in truth. The nurse should have just taken the $7k loss rather than risk her entire future for $2k.

    • @arturomoyo13
      @arturomoyo13 ปีที่แล้ว

      If the seller's home is fully paid off then subject to would be a great way. However, if you buy a home and the house is not paid off there can be a chance where the banks ask for the full amount of money since they assume the seller sold the home. In that scenario, it would be called due on sale clause. Both you the buyer and seller would lose the chance to keep the home.

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      @@nadruik9890The due on sale clause is definitely a risk because banks have the right to ask for full payment of the loan. There are numerous different ways subject to investors can prevent & protect the seller if the bank does indeed call the loan due (rare).
      Example - one of our attorneys in Louisville has closed over 2K subject to deals and 4 loans were called due. Mostly smaller banks / credit unions.

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      @@arturomoyo13you can subject to a home that’s paid off, that would just be a seller finance where the seller creates a note!

    • @nothing_burger
      @nothing_burger ปีที่แล้ว

      ​@@nadruik9890
      Not necessarily, you can deed the house back into the owner's name and that immediately stops the due on sale clause, then in lieu of the deed, you can set up a performance deed, otherwise known as a contract for deed or land contract.
      This gives the investor the right to manage the property as if he were the owner but gives up the benefits of appreciation and depreciation (for tax purposes).

  • @lurodriguez2682
    @lurodriguez2682 3 หลายเดือนก่อน +1

    I have not even watched the video and I know it’s definitely not clickbait

  • @lemababi3
    @lemababi3 2 หลายเดือนก่อน

    I've worked around real estate investing, but I keep hitting a brick wall guys, I don't have not one property yet... I had open heart surgery 2 yrs ago. I accrued almost 45k in debt credit dropped and its been hard, but I am relentless. I would love to get a multifamily, start a section 8 program and do some more creative things to get these properties soon. I live in NY and I am willing to invest on the east coast. My target is 3 properties within one year. and then I would like to rinse and repeat and compound that number for the next 3-5 years. I need Help please!!!

  • @idkmybffjill9682
    @idkmybffjill9682 ปีที่แล้ว +2

    “With no money!” Yea and a support system that has him setting up an investment account at age 11…

    • @idkmybffjill9682
      @idkmybffjill9682 ปีที่แล้ว

      9:35 there it is. Lie in the title, had parents money and they probably helped assure the hard money lender. Wrap it up let’s go home

  • @danyolsun4120
    @danyolsun4120 10 หลายเดือนก่อน

    Inexperienced, with a great deal in southern California
    Need funding

  • @skysthelimit.podcast
    @skysthelimit.podcast 11 หลายเดือนก่อน

    Great video!

  • @tmoney3189
    @tmoney3189 11 หลายเดือนก่อน +1

    How do I get in contact with your guest?

  • @jasonjosephlee
    @jasonjosephlee 9 หลายเดือนก่อน

    Great story!

  • @syncologymarketing3331
    @syncologymarketing3331 5 หลายเดือนก่อน

    What happens if the Subto investor doesn't pay my mortgage? For me to entrust someone I don't know to pay for my mortgage is a bit worrisome. My credit is on the line.

    • @bluesky973
      @bluesky973 2 หลายเดือนก่อน

      Do a mirror wrap

  • @Lynaka1
    @Lynaka1 ปีที่แล้ว +4

    @ItsTimYu Would you say someone who is new to investing would benefit from joining a mentorship program? They are very expensive 😮.

    • @dreamcatchinbebo4080
      @dreamcatchinbebo4080 ปีที่แล้ว +1

      Wait.. 1st go to the University of TH-cam. Learn as much as you can for free99.

    • @kimmiepnguyen1
      @kimmiepnguyen1 11 หลายเดือนก่อน

      I know people learn to invest from youtube. However, information can be overwhelming, so I think having a mentor would be a great way to get your feet wet. So I would recommend it, but you need to make sure you select the right coach. You can trade your time to get mentoring, or you can pay to get mentoring.

    • @ItsTimYu
      @ItsTimYu 11 หลายเดือนก่อน

      @@kimmiepnguyen1 I used to be / still am a TH-cam Warrior and always trying to learn. I think mentors are a great accelerator when you're trying to build and scale a business. But it's definitely not for everyone.

  • @stephenmullenax4522
    @stephenmullenax4522 6 หลายเดือนก่อน +2

    Too bad We can’t all use the 0% down VA loan for an Investment property

  • @kareembigdream
    @kareembigdream 11 หลายเดือนก่อน

    They Grilled my Battle but i’m happy he knew his shit! 😂 TH-cam helped me too

  • @ryanwilliams989
    @ryanwilliams989 11 หลายเดือนก่อน +12

    Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market

    • @StellaMaris-lv2uq
      @StellaMaris-lv2uq 11 หลายเดือนก่อน +2

      Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a-lot of wealth transfer in this downtime if you know where to look.

    • @maryHenokNft
      @maryHenokNft 11 หลายเดือนก่อน +2

      The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

    • @maggysterling33254
      @maggysterling33254 11 หลายเดือนก่อน +1

      @@maryHenokNft Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person

    • @maryHenokNft
      @maryHenokNft 11 หลายเดือนก่อน +1

      Do your homework and choose one that has strategies to help your portfolio grow consistently and steadily. *Camille Alicia Garcia* is responsible for the success of my portfolio, and I believe she possesses the qualifications and expertise to meet your goals.

    • @BiancaSherly-qt6sb
      @BiancaSherly-qt6sb 11 หลายเดือนก่อน +1

      I am going to look her up, I have about $81k i want to start with, might be small but it's better than nothing though. Since the 08 crash is playing out again.

  • @s.p.175
    @s.p.175 5 หลายเดือนก่อน +1

    What is TC work?

  • @s.p.175
    @s.p.175 5 หลายเดือนก่อน

    What’s a subject 2 deal??

    • @bluesky973
      @bluesky973 2 หลายเดือนก่อน

      Take over seller’s mortgage payments. Loan stays in seller’s name, property is deeded to you.

  • @howo357
    @howo357 9 หลายเดือนก่อน

    Seller concessions can only be for closing cost. How did his mortgage company allow it to be part of downpayment

  • @michaelwilliams3816
    @michaelwilliams3816 ปีที่แล้ว +2

    Look at my boys room lol. Sold everything

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว +1

      Haha! This is my guest bedroom, I need to make this into a cool office.

  • @ginacardarella
    @ginacardarella ปีที่แล้ว +2

    Not every ones VA

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      Absolutely! But there are FHA Loans (3.5% Down) and the new Fannie Mae 5% Conventional Loans for multi-families!

  • @shameikamiller
    @shameikamiller 6 หลายเดือนก่อน

    How much was the first loan?

  • @saucethebosss
    @saucethebosss 6 หลายเดือนก่อน

    I know a lot of guys who buy VW buses with flat tires for $40,000, not an analogy 😆

  • @camlix7276
    @camlix7276 6 หลายเดือนก่อน

    How do i get ahold of tim yu?

  • @normantech1
    @normantech1 ปีที่แล้ว +121

    I rarely make comment... but I have to say this. This video will not age well. The guest is young. I bet he has never seen a hard time before (2001 tech bust, 2008 financial crash). History does not repeat but it rhymes. Red flag: A young man bought 8 units in a year without much capital and talked to a realtor (aka saleman/speculator). Imagine the entire real estate market is full of these kind of "investors" with speculations and high leverage without capital. it is called bubble (all speculation and debt without producing anything). When the market turns, these investors would run to the door first.

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว +38

      I totally see your point and it’s spot on. I’ve actually slowed down acquisitions as this video is 3-4 months old from recording. I mostly flip my properties now. Thanks for the feedback!

    • @mram7715
      @mram7715 ปีที่แล้ว +45

      He is renting these out. Rent will likely not decrease. He’s prob locked in at the payment he has. I think he will be solid

    • @annettewebster982
      @annettewebster982 ปีที่แล้ว

      @@mram7715even if the market value goes down, rent and payments will remain the same. As long as you don't panic sell and you're patient and wait until the value goes back up, which it will, then you'll be fine.

    • @Anonyme67
      @Anonyme67 ปีที่แล้ว +14

      I agree with you. Get rich quick. I am myself in Realestate. But all my 4 rental ( in class A- and B) neighborhoods are all paid off. Paying off the mortgage on family. I am not going to debt until I am financially free and I am not quitting my 9/5 job as well.

    • @Anonyme67
      @Anonyme67 ปีที่แล้ว

      @@mram7715this is a super high risk investment as tenants does not always pay and if unexpected repairs happens….

  • @UriahBanks
    @UriahBanks 8 หลายเดือนก่อน

    He literally has Pace Morby all in his DNA

  • @bigbusiness4335
    @bigbusiness4335 8 หลายเดือนก่อน

    NJ stated its against law to receive funds at closing 😢😢 i want out already lol

  • @gk2547
    @gk2547 ปีที่แล้ว +1

    Totally impossible without large down payment to get loans! Its such a scam

    • @ItsTimYu
      @ItsTimYu 11 หลายเดือนก่อน +1

      Just want to clarify - what part is a scam? Seller finance or a creative deal is not the same as getting a conventional loan from a bank.

  • @evischka
    @evischka ปีที่แล้ว +2

    @ItsTimYu what mentorship pprogram did you join?

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว +3

      Hi there! I’m a Subto student!

    • @eddiecenteno8
      @eddiecenteno8 ปีที่แล้ว +1

      Tim yeah with Pace Morby, I was thinking about joining, would you share how much the course cost

  • @FreedomNrealestate
    @FreedomNrealestate 10 หลายเดือนก่อน +1

    I am at 18 rental properties in 2 years

  • @nenax24x
    @nenax24x ปีที่แล้ว

    I am thoroughly confused. But thanks.

  • @simardssurveillancesystems8209
    @simardssurveillancesystems8209 ปีที่แล้ว +4

    34:29 I Bought One of My Rental Properties With A Credit Card...So Umm Yeah

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      The actual home purchase wasn’t through a credit card. You can transfer money through a 3rd party service like Plastiq.

    • @dreamcatchinbebo4080
      @dreamcatchinbebo4080 ปีที่แล้ว +2

      I did it to. I bought 2 three family building with 2 credit cards. Sellar financing. It can happen.

    • @kimmiepnguyen1
      @kimmiepnguyen1 11 หลายเดือนก่อน +1

      Seller finance is the best way to leverage into building your portfolio. But if you can learn the art and science of capital raising it will make you unlimited.

    • @ItsTimYu
      @ItsTimYu 11 หลายเดือนก่อน

      @@kimmiepnguyen1 I agree, Kimmie! Do you have some experience in raising capital? I would love to connect.

    • @shantelljones6954
      @shantelljones6954 8 หลายเดือนก่อน

      Me too.

  • @elijahknox4901
    @elijahknox4901 9 หลายเดือนก่อน

    Love the video but if you’re going to say (starting with no money), technically he didn’t because of the 401k

  • @Starsearching1
    @Starsearching1 3 หลายเดือนก่อน

    🔑 🔑 🔑
    Thank you!!

  • @henryimamshah7706
    @henryimamshah7706 ปีที่แล้ว

    I am in Edmonton I have my $20000 for a down-payment but still the bank will not finance.

    • @ChanceStemMovingMaryland
      @ChanceStemMovingMaryland 8 หลายเดือนก่อน

      What bank are you using? Might be able to help with your funding needs

    • @VomRodriguezRottweilers
      @VomRodriguezRottweilers 7 หลายเดือนก่อน

      @@ChanceStemMovingMaryland are you a hard Mondey lender ? Do you lend for clients in California?

  • @s.p.175
    @s.p.175 5 หลายเดือนก่อน

    What is PITI??

    • @bluesky973
      @bluesky973 2 หลายเดือนก่อน

      Principal, interest, taxes, insurance

  • @fpm8338
    @fpm8338 5 หลายเดือนก่อน +1

    Although inspirational it’s my opinion that he is taking on a lot of risk with his positions. I wouldn’t recommend anyone to do what he is doing. Hard money loans have terrible financing terms and are super expensive to use. The fact that risk is never even brought up is troubling.

  • @albacastillo2499
    @albacastillo2499 หลายเดือนก่อน

    Hey yes I would like to share my story as well

  • @Justkeepitabuck
    @Justkeepitabuck ปีที่แล้ว +1

    He did used his own money

    • @mark6360
      @mark6360 11 หลายเดือนก่อน +1

      Exactly. Clickbait title, and this is my first video I've watched that this channel has made. Not a good start. He leveraged his 401K to back lending.

  • @hewhoknocks2880
    @hewhoknocks2880 8 หลายเดือนก่อน +1

    Tell him to refinance into a conventional loan
    That will free up his VA loan again

  • @daniels3318
    @daniels3318 4 หลายเดือนก่อน

    For those worried for the guy. NO RISK, NO REWARD.

  • @meecheongkim3980
    @meecheongkim3980 11 หลายเดือนก่อน +1

    Did he pay for coaching from a real estate mentor?

    • @ItsTimYu
      @ItsTimYu 11 หลายเดือนก่อน +1

      Hey there, I did. I joined one after my first couple deals.

    • @meecheongkim3980
      @meecheongkim3980 11 หลายเดือนก่อน

      @@ItsTimYu I want to start real estate investing and am wondering if I should buy a mentorship program to avoid mistakes and speed up.

  • @christie4336
    @christie4336 ปีที่แล้ว +2

    Thumbnail Alert! Ugh. I hate these headlines. ( Heads Up to Tim Yu. This is not about you.) Headlines are congratulating folks for the number of deals they have. Congratulating people on the number of doors. Ugh.
    It is the Quality of the deal. It is how well the deal fits your goals. I'd rather do one good deal a year then 20 deals that are half assed.

    • @ItsTimYu
      @ItsTimYu ปีที่แล้ว

      Makes perfect sense and totally agree with ya. Better to get one great deal over a bunch of subpar deals!

  • @tjay88888
    @tjay88888 6 หลายเดือนก่อน +1

    Clickbait for sure. lol. This guy had money. Not bad info though. What about California? Hilarious how people use a 100k house as their example. What about $500k house. How do you do that with no money?

    • @Truckyducky
      @Truckyducky 6 หลายเดือนก่อน

      A loan? Many banks offer a 0% down loan for your first property as long as it’s 2 units or under

  • @bullcrapptv
    @bullcrapptv 9 หลายเดือนก่อน +5

    He's creepin' Zillow hardcore. $100,000 house drops to $50,000 "overnight". He offers $40,000. Finds $36,000 hard money, cuz he doesn't have $40,000, and then DOESN'T HAVE $4000 to get the deal done? Why is he creepin' on Zillow if he is dead broke? Why would anyone do a deal on a sketchy property with a guy who has zero money and zero skin in the game? And what are the chances that this will happen to me people watching this video? Backgrounds like this create false hope of lottery-syle luck for people who do want to use they money they have to build a portfolio. Ok, rant over.

  • @Miclyricz
    @Miclyricz 8 หลายเดือนก่อน

    I run a lending business of my own where we can help you with these retirement funds, private & hard money, as well as long term 30yr investment loans with 10yr interest only options. I would be more than happy to consult and see how I can help. Good luck 👍🏼💰💰💰

    • @Miclyricz
      @Miclyricz 8 หลายเดือนก่อน

      Like, comment, subscribe !!!

  • @MustafaBedar
    @MustafaBedar 10 หลายเดือนก่อน

    👍

  • @Abd3llah
    @Abd3llah 10 หลายเดือนก่อน +1

    Wait you're a veteran at what like 25?
    Dude the word itself is a little shifty itself, especially if you get lots of benefits for life....

    • @-Jason-L
      @-Jason-L 9 หลายเดือนก่อน +1

      He is still active duty. But you can join at 17, do a 2 year army enlistment, and you are now a veteran at 19. The only benefit is college benefits, and va loans

  • @ollie5226
    @ollie5226 ปีที่แล้ว +3

    ❤A+++

  • @drewburgess8097
    @drewburgess8097 9 หลายเดือนก่อน

    Yeah 7.5% mortgages, 35% home inflation has ruined any chance of buying a property in the next 5 years…
    Thanks to TH-camrs like this who made everyone wanna buy a house and BRRR it you can’t even find a deal anymore 😂 fuck even 125 year old houses with rotting and mold are going for 150+. My sister lucked out and bought in 2019 and currently could sell for nearly double what she paid.

    • @-Jason-L
      @-Jason-L 9 หลายเดือนก่อน

      People are still buying every day. I closed last week.

  • @temiymahs_World
    @temiymahs_World ปีที่แล้ว

    He’s cute! 🫶🏾

  • @Money2funnny
    @Money2funnny 7 หลายเดือนก่อน

    This is not true to title what so ever. Ofc any1 thats has some willing to learn about real estate. Will take advantage of VA. & the kid had 401k since go knows when he nvr said how many years. But to have 30k left over after tapping into hos 401k tells me he was starting with a healthy sum of money. & not to mention he was in the service.

  • @Watermelonman1
    @Watermelonman1 8 หลายเดือนก่อน +1

    I own 5 units 2 houses in rural SC I don't make enough off them to quit my job what am I doing wrong

    • @jerky94
      @jerky94 6 หลายเดือนก่อน +1

      You’re not doing anything wrong. Stay safe and keep building.

    • @Jaytalkscrypto
      @Jaytalkscrypto 5 หลายเดือนก่อน

      Sell them to me :)

  • @InputBen
    @InputBen 6 หลายเดือนก่อน

    Bouta use my VA LOAN🙌🏾🔥