✅ Check out our out-of-state real estate investing course Remote Rental Riches - courses.digitalnomadquest.com/p/remote-rental-riches which teaches you step-by-step how to acquire your first rental property!
I don't think this was a good deal because #1 you could've gotten the property at 3.5% down payment instead of 25% #2 you could've increased the rents. #3 you didn't have to hire a property manager for just a 1-4 unit... you could've done it yourself and save money 💰
@@nikkinoos82 hey! Actually am not from us so i don't have much knowledge about taxes am planning to buy multifamily property in Us maybe in a year or two. basically a 17 unit apartment and its has a potential of $163200/year 13600/month. So how much tax will i be paying what are the tax bracket?
I just put an offer on a duplex today. Thanks for your great videos! Very encouraging to see your numbers and know it can be done! (I’m here from TikTok too, love those videos).
I got one last year and am house hacking it also which allows you to only put 3% down bc you’re living in it. Renting the other 3 units out and living for free. Paid 115k and each unit collects $400 but then again this is in indiana. No manager fees at this moment. Repairs for now are at 4k but may have to replace the roof in 5 years but it’ll still make me income and the mortgage is being paid for.
Consider roofing that has a longer lifetime. I believe I saw something out there that has a 50 year warranty or something like that. It is ALWAYS better to pay a little more for quality that will last longer and save you money in the long term.
I purchased a 4plex as my first home for a 3.5% down payment. An option for any investors who plan to live in one of the units for a year or so. Otherwise, you have to get a conventional loan with a 10% down payment. You have to come up with a 20% + downpayment for a commercial loan at 5+ units.
This is a great break down. This will be my next move. I’m going thru NACA because i don’t have a large upfront down payment. This price point is unheard of. I wish I could get a deal like this in the DMV. I would live in one of the units.
Hi Sharon, what a great video! I wanted to know, how much do you get out of the property management company that you use for $209.50/month? How many hours do they roughly spend managing your property and what kinds of things do they help with when it comes to dealing with tenants/maintenance requests/resident relations etc.? Thanks again!
Wow. Thanks for your breakdown video! Just curious if you got your financing under your name or did you form an LLC and do the financing through your llc ?
26 here, taking my Real Estate license soon, and plan on buying a plex for my first home purchase to start the whole process! Here in Northern California!
You forgot property taxes and income tax. By the time you add those on, your profit is getting pretty slim. For apartment and single home investments you need to be aware of homeowner association dues. Making a real profit is harder than you think…. 😮
Can you do a tax video. Strategic tips, llc vs s corps, and how you guys set up your structure to keep taxes from eating away at your profits? Great info and vids I’m a happy subscriber!
Hi, Sharon. I was just referred to your channel and think it's definitely worth a sub =) Would you say you are still happy with owning this fourplex years later? Is it within a B or C class neighborhood? I'm interested investing in a fourplex as my first rental property. The fact that you were able to find a great PM really must've helped with pulling the trigger. Still a newbie on due diligence myself so looking forward to exploring your channel for more REI tips!
Excellent! I'm really curious which state you purchased in. Please lwt us know! I'd also love to know the age of rhe property. I'm in the market myself - first time buyer using FHA. I'll live in 1 unit but I work from home and I can do this anywhere. Any tips on location would be sooo super helpful! Great video! Subscribed.
Nice little Rookie deal. Congrats. If you wouldn’t have used a realtor you would have had a way better deal and more equity to refinance sooner. Do some updates then raise the rents and refi after 18 mo. You do need better Fianncing and to eliminate the realtors! Your paying too much for all of that😉💯. Welcome to the real estate game! Good job! If you need a coach, shoot em a message.
a fourplex for 170,000 its unheard of - been searching everywhere - We inly have single family need to upgrade to multi units Same here we never raised any of our charges for rent
It’s really cool you’re helping people out during these times, U should definitely up in in the near future when and if the market goes up. Also that’s not bad 700 bucks profit a month, that can go to food and ect ... plus if your working ur bringing home some bacon 🥓 lol the only thing that I’m worried about is the privacy level , can they hear your conversations and stuff like that since it’s one jointed house ? Lol I’m just worried about privacy and stuff like that ... ?
@@jackbrown8266 it's fairly clear that she does not live there. I've seen 3 videos and have already worked out that she is in Cali and bought 2 props in Texas. Now there are other people out there that buy these multi family units and do live in one unit. It's not much different than living in apartments really.
Might go into this or self storage as a business. Both have their advantages, but my mother went into rental property which came in handy during difficult times. I feel more accustomed to long term rentals as a result vs self storage which is not very personal, nor Airbnb properties which are more hands-on. Still mulling over things, but this was good info. Need to broaden my knowledge of out of state markets. Don’t know where to start research though.
Thanks! It's a bit hard because it's master metered so there's no way to separate them all but yea I definitely could charge a standard fee if I wanted to!
Ms. Sharon I’ve been looking for the better part of 6 months for a 4plex that I can house hack you know live in one unit and rent out the other 3 where should I be looking to invest? For example Memphis tn seems like an up and coming area but I’m not sure where to invest!
It kind of depends on your market - I feel like they're more rare where I'm from (the Bay Area) - and if there are any they're extremely high priced. It might be the same in LA - not sure, haven't studied the market. You can check on the MLS for multifamily properties and see!
What city is this property in? I’m not sure if you mentioned it but is it possible for me to get a deal this good for a multi family home in Los Angeles?
Where in texas do you own and rent ?? The property it's a good deal, again depending on where it is. Has to be outside big cities where rent depending on the area of the city limits and counties run above 1300.00 a month easily
Wow to hear these rent prices are so surprising to me because I pay $1400 for rent for my 2 bedroom in Georgia. And thats not even in the city of Atlanta. All the surrounding cities charge around $1300-$1500 for a two bedroom.
@@Openminded4life my thoughts are that it needs way too much for a rehab... as it is they want 270k for them. I'm thinking rents can be pushed to around 550 or 600
@@jorgeasihasjr6704 makes sense. Its all about numbers and trying to make a decent profit. Im in CA and when I'm ready to buy an investment, I'll definitely hire someone experienced to guide me and definitely outside of CA.
Found your channel from TT. Love s as lol your videos - I’m shocked the views aren’t up in 100ks as your videos are much better information than many others who have all these views/subs. People just need to like your vids so TH-cam algorithms will promote it. I’ve been watching financial videos on youtube and never once saw any of these. Only found via tik tok. One question wouldnt real estate attorney fees be an expense ie the rental agreements and legal defense from tenants. Having a 4plex with people living that close to each other may be risky? As owner you have to step in with neighbor disputes? Love your spreadsheet though. Seems as if risk is that it’s hard to unload (sell) a property like that in low income area?
First time viewer, old time property wholesaler:); your numbers are great, not particularly a fan of managers, but that's a good rate and in my opinion. I like your numbers as well as the presentation. I've always been shy about distance and my real estate; BUT HEY.... great job👌!
Hey Sharon, Thanks for all the great info! We just found you recently and have really connected as we are investing OOS and also looking for other side hustles to get that passive income coming in each month. Great job and your videos are getting so much better!
@@deandre22 that's my same problem. I have a friend that's a realtor in DFW and he flat out told me that if I wanted to get into the market without having a bunch of cash then I needed to buy a new property, do some upgrades and just be patient. I have my fingers crossed that my job will soon be moving me to ATL where the market is a lot more reasonable.
4:37 It is legal for an apartment owner to raise the rents on any, all or none of his rent-controlled apartments in Los Angeles. He is limited to set rent increases for existing renters under the Los Angeles rent control law. It is discriminatory, but it is not illegal discrimination, for an apartment owner to raise the rent on one tenant and not on another.
Hi, would you mind if I can ask whether your rental property is located in tornado alley? Since Texas has flood and tornado, is insurance for natural disaster needed or it's just like the earthquake insurance in Cali ? Thank you
I am in Phoenix Arizona and looking to buy a complex with 10 units and I’m looking at 1,000,000 1/2 each unit I can rent out for 13 to 1400 a month. My payments per month would run around $8000. I think…. I’m like f$&@ it, let’s go!! One life, one chance
✅ Check out our out-of-state real estate investing course Remote Rental Riches - courses.digitalnomadquest.com/p/remote-rental-riches which teaches you step-by-step how to acquire your first rental property!
I don't think this was a good deal because
#1 you could've gotten the property at 3.5% down payment instead of 25%
#2 you could've increased the rents.
#3 you didn't have to hire a property manager for just a 1-4 unit... you could've done it yourself and save money 💰
@@ricaudpierre3944 It's out state investment, so to my understanding #1 and #3 don't apply here.
@@ricaudpierre3944 3.5% is only an option if you live in one unit
Can you say where in tx this was and the property manager? Or suggest another area
The fourplexes in my area are 600k + you got a krazie deal!!!🤯🤯🤯
your rent will probably be $1,500-$2,000 per month if it's that much.
@@Modified_Gentlemen whoa, right on the money! Rents between 1500-1600 a month!!!🤯😃
@@nikkinoos82 hey! Actually am not from us so i don't have much knowledge about taxes am planning to buy multifamily property in Us maybe in a year or two. basically a 17 unit apartment and its has a potential of $163200/year 13600/month. So how much tax will i be paying what are the tax bracket?
@@artemis9306 $0 cash flow from real estate is tax free.
In my area, 1.5 million CND, welcome to Vancouver.
Nice video. Short and to the point. No fluff like everyone likes to do now a days. 👌🏼
Thank you! 😄🙌
Exactly man
It's a must to raise the rent even by just $20. This adds value to the property and in ten years it will be worth more and you can sell higher.
I bought a 4plex in Phoenix for the same price as you fha (3.5%dp) and my cash flow after mortgage and insurance and taxes is $2200
Wait your down payment was only 3.5%? Did you hire a property manager?
How did you do that ? I’m currently looking into one
Dude three plexes in my country are around 500K
@@gugsfilli1764 3.5% is for first time home buyers...1-4 family us considering residential property.
Where in Phoenix?1
I just put an offer on a duplex today. Thanks for your great videos! Very encouraging to see your numbers and know it can be done! (I’m here from TikTok too, love those videos).
Thanks so much Kevin! :D Congrats!!
Hey, did you get that duplex? And how business going?
I got one last year and am house hacking it also which allows you to only put 3% down bc you’re living in it. Renting the other 3 units out and living for free. Paid 115k and each unit collects $400 but then again this is in indiana. No manager fees at this moment. Repairs for now are at 4k but may have to replace the roof in 5 years but it’ll still make me income and the mortgage is being paid for.
That is awesome congrats!!
Consider roofing that has a longer lifetime. I believe I saw something out there that has a 50 year warranty or something like that. It is ALWAYS better to pay a little more for quality that will last longer and save you money in the long term.
Great job! I just bought a duplex and it closed at $530k in California. Fully rented I can gross 1K a month.
Will you tenants be dodging bullets? That’s VERY “cheap.”
@marriejames01 they gotta mean profit $1K a month
I purchased a 4plex as my first home for a 3.5% down payment. An option for any investors who plan to live in one of the units for a year or so. Otherwise, you have to get a conventional loan with a 10% down payment. You have to come up with a 20% + downpayment for a commercial loan at 5+ units.
you dont actually need to come up with 10 or 20% just do PMI its 70 per 100k borrowed...not a huge deal
@@russellbecker671 what is a PMI?
@@momo03ize Private mortgage insurance (PMI)
This is a great break down. This will be my next move. I’m going thru NACA because i don’t have a large upfront down payment. This price point is unheard of. I wish I could get a deal like this in the DMV. I would live in one of the units.
You can find some out bmore. I’m looking now.
Hi Sharon, what a great video! I wanted to know, how much do you get out of the property management company that you use for $209.50/month? How many hours do they roughly spend managing your property and what kinds of things do they help with when it comes to dealing with tenants/maintenance requests/resident relations etc.? Thanks again!
It's nice to see a proper breakdown.
Erik Tangvik glad you like it!
That is awesome, you ae not only paying down your debt from the renters you are seeing positive cash flow!! amazing
Great video. I always enjoy real-life scenarios. It helps paint the picture. Thanks for sharing!
Wow. Thanks for your breakdown video! Just curious if you got your financing under your name or did you form an LLC and do the financing through your llc ?
Do you buy real estate in your own personal name or do you use a llc or land trust? What do you do for asset protection?
26 here, taking my Real Estate license soon, and plan on buying a plex for my first home purchase to start the whole process!
Here in Northern California!
Great price in Northern Ca...use an FHA loan for a lower down payment of $5,000!
You forgot property taxes and income tax. By the time you add those on, your profit is getting pretty slim. For apartment and single home investments you need to be aware of homeowner association dues. Making a real profit is harder than you think…. 😮
She included it with the mortgage
Nice video. Too the point. I wish more people made videos that didn't waste my time. Informative, Thank you
Thank you!
Seeing as how the market has boomed I bet you love doing the math on things now. My next goal is a multi family
thank you for the transparency and simplicity of this video. subscribed!
Thanks for the video Sharon.
Great job! Just subscribed. No fluff. Right to the point with extremely valuable information.
im definitely getting one of these during 2021 ✅
smart
You broke this down very well. Thanks!
I really love how detailed the video was. Everything was clear.
Can you do a tax video. Strategic tips, llc vs s corps, and how you guys set up your structure to keep taxes from eating away at your profits? Great info and vids I’m a happy subscriber!
Hi, Sharon. I was just referred to your channel and think it's definitely worth a sub =)
Would you say you are still happy with owning this fourplex years later? Is it within a B or C class neighborhood? I'm interested investing in a fourplex as my first rental property. The fact that you were able to find a great PM really must've helped with pulling the trigger. Still a newbie on due diligence myself so looking forward to exploring your channel for more REI tips!
Thank you! Yes it’s been great. It has appreciated over $100k in value and it cash flows well. Would say it’s in a C neighborhood!
Here from TikTok! High Quality video! Bigs things coming your way for sure!
Thank you!
Thanks for breaking that down! Passive income is everything!
Where did you buy your 4 plex. Tell me the area and state
Excellent! I'm really curious which state you purchased in. Please lwt us know! I'd also love to know the age of rhe property. I'm in the market myself - first time buyer using FHA. I'll live in 1 unit but I work from home and I can do this anywhere. Any tips on location would be sooo super helpful! Great video! Subscribed.
in video i think she said texas
Great job. I like turnkey passive income from multi family
That’s actually a sick price for a fourplex!!!!!!!!
Thanks! 😄
Awesome breakdown in numbers. Thanks for sharing.
Nice little Rookie deal. Congrats. If you wouldn’t have used a realtor you would have had a way better deal and more equity to refinance sooner. Do some updates then raise the rents and refi after 18 mo. You do need better Fianncing and to eliminate the realtors! Your paying too much for all of that😉💯. Welcome to the real estate game! Good job! If you need a coach, shoot em a message.
a fourplex for 170,000 its unheard of - been searching everywhere -
We inly have single family need to upgrade to multi units
Same here we never raised any of our charges for rent
great breakdown and very informative. My goal is to buy a duplex in the next year or two :D
Thank you! You can do it!
Why can’t you do it now??
Super helpful, Sharon!
Glad it helped!
It’s really cool you’re helping people out during these times, U should definitely up in in the near future when and if the market goes up. Also that’s not bad 700 bucks profit a month, that can go to food and ect ... plus if your working ur bringing home some bacon 🥓 lol the only thing that I’m worried about is the privacy level , can they hear your conversations and stuff like that since it’s one jointed house ? Lol I’m just worried about privacy and stuff like that ... ?
Yea it’s been great! Thank you! Hmm when I visited I didn’t hear anything. haven’t gotten complaints so I think it’s ok!
@@SharonTseung do u live at this unit or do u have other unit’s Sharon ?
@@jackbrown8266 it's fairly clear that she does not live there. I've seen 3 videos and have already worked out that she is in Cali and bought 2 props in Texas. Now there are other people out there that buy these multi family units and do live in one unit. It's not much different than living in apartments really.
Might go into this or self storage as a business. Both have their advantages, but my mother went into rental property which came in handy during difficult times. I feel more accustomed to long term rentals as a result vs self storage which is not very personal, nor Airbnb properties which are more hands-on.
Still mulling over things, but this was good info. Need to broaden my knowledge of out of state markets. Don’t know where to start research though.
My air bnb pays for utilities on 3 properties...And we like to stay there when its not rented.
@@davehughesfarm7983 How is the upkeep? Does it take a lot of time and work to run? Is the money returned worth it over just renting it out?
Loved this video!!! Could you make the tenants pay for their own water and trash fee & increase your cash flow that way?
Thanks! It's a bit hard because it's master metered so there's no way to separate them all but yea I definitely could charge a standard fee if I wanted to!
You could meter the units individually which would save money in the future.
Ms. Sharon I’ve been looking for the better part of 6 months for a 4plex that I can house hack you know live in one unit and rent out the other 3 where should I be looking to invest? For example Memphis tn seems like an up and coming area but I’m not sure where to invest!
How rare is it to find a 4 plex since it is something people actively look for, especially in the Los Angeles area
It kind of depends on your market - I feel like they're more rare where I'm from (the Bay Area) - and if there are any they're extremely high priced. It might be the same in LA - not sure, haven't studied the market. You can check on the MLS for multifamily properties and see!
Just build it, it's easier
@@redarbz6545 LOL much more expensive right now!
Hey there, how much do you think it would cost to build a four plex? Thanks for the video!
What area of Texas is this? Great job!
Loved the breakdown, great video!
Aren’t you worried about large repairs in and old building like roofing?
Why worry? That's just a natural part of owning things and you should be going into it prepared for that kind of stuff to happen.
What city is this property in? I’m not sure if you mentioned it but is it possible for me to get a deal this good for a multi family home in Los Angeles?
Thank you for sharing and good luck!
Thank you!
Nicely done! I love those numbers.
Great video!! Good video
Hey Sharon, will your course show how to buy 2 to 4 units? I only want to focus on those type of rental properties.
Great job!
Sharon, who pays for the yard, grass and etc?
Where in texas do you own and rent ?? The property it's a good deal, again depending on where it is. Has to be outside big cities where rent depending on the area of the city limits and counties run above 1300.00 a month easily
Wow to hear these rent prices are so surprising to me because I pay $1400 for rent for my 2 bedroom in Georgia. And thats not even in the city of Atlanta. All the surrounding cities charge around $1300-$1500 for a two bedroom.
I think it's a great deal! What part of Texas did you invest in?
Super amped to get into my own multiplex one day!
Awesome!!
Right I feel the same way I’m hyped UP !🙏🙏🙏
I'm currently looking at a 4 plex myself, but it just feels too good to be true.
there's a reason why it sounds to good. You must look at risk. it's possibly a really cheap area where hardly no jobs and no one wants to live in.
@@Openminded4life my thoughts are that it needs way too much for a rehab... as it is they want 270k for them. I'm thinking rents can be pushed to around 550 or 600
@@jorgeasihasjr6704 makes sense. Its all about numbers and trying to make a decent profit. Im in CA and when I'm ready to buy an investment, I'll definitely hire someone experienced to guide me and definitely outside of CA.
@jorgeasihasjr6704 I help people purchase a 4-plex or 8-plex brand new builds for pre-sale. Low capital entry. DM for Info
Which sites do you use to find good fourplex deals across the country?
Hi sharon van you please show us how you ran the numbers on this deal?
Smart financials... I have a Air bnb that pays for the utilities and basic maintence of 3 properties..
Is this shot in Brownsville texas cause i think ive been to this exact quadplex
We’re you not required to live in this property? If no, could you explain why?
where do you find contractors that do your repair/renovation ?
The Property Manager generally will have a list of 'go to' contacts
Awesome!
Found your channel from TT. Love s as lol your videos - I’m shocked the views aren’t up in 100ks as your videos are much better information than many others who have all these views/subs.
People just need to like your vids so TH-cam algorithms will promote it. I’ve been watching financial videos on youtube and never once saw any of these. Only found via tik tok.
One question wouldnt real estate attorney fees be an expense ie the rental agreements and legal defense from tenants. Having a 4plex with people living that close to each other may be risky? As owner you have to step in with neighbor disputes? Love your spreadsheet though. Seems as if risk is that it’s hard to unload (sell) a property like that in low income area?
Did you know how much current tenants were paying before purchasing? When/ how did you ask about this?
She stated she didn't raise the rent, so assuming the rent is still the same
Absolute great deal!
Where did you get 45k from? Is 25% down normal??
for your fourplex did you receive a business tax from the state that you live in or the state that you own the property in?
How did you find this fourplex? (I’m getting ready to get my feet wet in real estate) what city in texas?
I love it....That property is probably worth 500,000 in summer of 23'
That sounds good (BUT), your cash on cash ROI is only 1% which is really not good.
Thought it would be more.
First time viewer, old time property wholesaler:); your numbers are great, not particularly a fan of managers, but that's a good rate and in my opinion. I like your numbers as well as the presentation. I've always been shy about distance and my real estate; BUT HEY.... great job👌!
Appreciate you!! :)
Hi thanks for the info. Where is this property located , in which city ?
currently trying to close a triplex for 187k with a cash flow of 900 in (best case scenario)
Hey Sharon, Thanks for all the great info! We just found you recently and have really connected as we are investing OOS and also looking for other side hustles to get that passive income coming in each month. Great job and your videos are getting so much better!
great video this is amazing for a fourplex who wants to own some property?🤑🤑
JIM INCOME awesome! 😄🏠
@@SharonTseung I'm not really awesome, ur are awesome! 🤑
Thank you so much! Very informative!
I’m currently looking for a deal like this in the DFW area.
Awesome! Good luck!
@deandre did you ever find anything?
@@momoneyhabits Nope! Prices are too high right now.
@@deandre22 that's my same problem. I have a friend that's a realtor in DFW and he flat out told me that if I wanted to get into the market without having a bunch of cash then I needed to buy a new property, do some upgrades and just be patient.
I have my fingers crossed that my job will soon be moving me to ATL where the market is a lot more reasonable.
Cash flow positive! That’s awesome Sharon. I wonder if there are opportunities like this in Australia 🤔
Thanks!! Should look into it!
4:37 It is legal for an apartment owner to raise the rents on any, all or none of his rent-controlled apartments in Los Angeles. He is limited to set rent increases for existing renters under the Los Angeles rent control law.
It is discriminatory, but it is not illegal discrimination, for an apartment owner to raise the rent on one tenant and not on another.
It's a new tenant so she charged them market rate.
That's pretty good! What city?
Love the deal by the way.
Can you buy a 4-plex with a fha or would that be a commercial loan
Hi, would you mind if I can ask whether your rental property is located in tornado alley? Since Texas has flood and tornado, is insurance for natural disaster needed or it's just like the earthquake insurance in Cali ? Thank you
Good deal for shore!
Kindly tell details of your real estate agent and property mgt co?
Congrats pretty!
Great deal Sharon! ;)
Thank you! :D
Hey Sharon was this your first property you bought?? Or did u start with a SFH or a condo or something?
Thanks!!
What part of Texas did you purchase the 4 plex?
I am in Phoenix Arizona and looking to buy a complex with 10 units and I’m looking at 1,000,000 1/2 each unit I can rent out for 13 to 1400 a month. My payments per month would run around $8000. I think…. I’m like f$&@ it, let’s go!! One life, one chance
@donivanfait67 I help people purchase a 4-plex or 8-plex brand new builds for pre-sale. Low capital entry. DM for Info
U bought in the military area huh. How’s that going? I know what city you bought in. Rough area.
Rent for 2 bedroom is $2200 here in los Angeles apartment
Sounds good 👍🏾
Who’s a good property management company that you would recommend?
How did you find this unit?