I thank my father for giving me an inheritance of my first rental property. I am now motivated to purchase more and working on my credit profile. Bitter and sweet thank you to my daddy.
You sound like a very rational person. I do exactly the same but at the same time still keeping my very good job. So buying and renting apartments is a side hustle for me. Right now I am renting 2 of these apartments cheap to my adult sons. When I stop working and go on pension, I can raise the rent if I need more money, or I can sell the apartment s cheap to my sons to help them getting their first home. It’s a great idea to invest in real estate while having a job if the economy allows that as you are investing in your freedom and pension.
It’s really random that I found this video in the current stage my wife and I are in. We live near Memphis and have been looking for our first property, but it is super sketch. I like the way you described that you must buy in the As and Bs preferably. It’s exactly how Thach Nguyen and Ken McElroy say is the key. How did you go about determining the As and Bs. I’m imagining As being like Collierville/Germantown. I also think that parts of East Memphis are higher tier. I really enjoyed this episode. We are planning to snag up 8-10 in the next 10 years
I loved this video and finally I think I may have found a community of people doing the same strategy as I. It wasn’t until a few weeks ago that I picked up the book “The Small & Mighty Real Estate Investor” that gave a name to what I am trying to accomplish. I have been watching Biggerpockets daily for just over a year now and got started investing in real estate 3 years ago. Since then, my wife and I have acquired 4 properties, 2 duplexes and 2 single family homes. We have solid incomes and a high savings rate. As a way to reduce risk and increase our staying power we have put down 35% - 45% on our last two deals. For some time, I have been tracking what my current cashflow is and what it would be if my properties were paid off. When my paid off bar hits my goal of $11K a month my wife and I planned on shifting from buying to paying down our properties. We are a little over halfway there, which is exciting. Almost everything I watch is about maximizing leverage, increasing your cash-on-cash return using as little of your money as possible, focusing on growth. My thought has been hit my goal with as few properties as possible, so I am not trading my job for another one. This episode really hit home with the strategy I am trying to do myself. It’s nice to hit a channel that shares some similar philosophies as I do. I will be excited to check out some more videos. Thanks Chad, for providing a different perspective on the topic of real estate investing!!!
welcome to the Small and Mighty team, Paul! And congrats on your progress and for applying your strategy consistently. I love your approach and your plan. I can tell you'll be successful. Stick around - new videos each Monday, and I send a free newsletter every Tuesday (coachcarson.com/toolkit-YT)! I hope you find it helpful.
No pressure - but we also have a private paid community with a lot of intermediate to advanced investors in the same boat as you, helping each other get to financial freedom. You can check that out at coachcarson.com/rpm
Its not one rental at time … she said none is payed off - all 8 are on morgage , her husband wants low risk to pay them off and skyrocket the cashflow but she said no as she wants more units. One at time in their case is as soon as they save another bag , they go for downpayment on another unit… Their debt to bank is very very high but she doesnt care as she beleive in her tenats to stay forever on inside her ap. units …
during father's day i ate at a really fancy Chinese restaurant and noticed a very old healthy looking man at the table next to mine surrounded by like 50 grand children. Thats what its all about for me. I'm in it for that kind of future, not the fast cash flow. I want legacy flow lol.
Loved this video Chad! I wish more people could be patient for the appreciation especially in places like Texas. The real estate ALWAYS goes up eventually! Unfortunately too many people are stuck on ONLY cashflow and to invested in old podcasts. Thanks for staying current Coach Carson!
Lots of gems and good episode. Only thing I disagree with her on is the The C & D neighborhoods from 2016 have been gentrified and a lot of them are Way up, maybe not in memphis, but for sure in Nashville, Charlotte, Atlanta, Raleigh-Durham for example, those C &D ones are way up. Just goes to show no advice is ubiquitous for all markets and all ppl. if a city is having a population increase, having a property is a long term win over time.
Good on her making this transition. As time goes on. Those 8 properties will need much required repairs. Some of those will be expensive. I own 10 in the Florida panhandle area. To refute some things she’s saying. Rents have came down in some areas. I’ve had to reduce my rent in some of my houses. She seems very salesman like. I enjoy her energy but, some unwitting people without good mentorship can have buyers remorse. Especially when the numbers are not amenable.
Those repairs are apart of the game, the benefit is the tax write off. Generally speaking rents go up over time and of course nothing is ubiquitous for every scenario. It’s all about giving yourself options and real estate can help provide that option to not work in a traditional sense.
Getting ready to jump feet first into real estate investing, been a stock market investor and watching the safety and steady growth of my long term has helped me get the confidence to jump feet first into real estate because 10 years ago was the best time to plant a tree the second-best time is today. The farmer never waits for perfection.
I love this interview and me and my wife brought our first property in 2021 and plan on buying our second property next year 2025 and I’m glad we made the best decision to invest in real estate.
@7:42 you could say the same thing about the stock market. Time in the market wins over timing the market. And the stock market takes MUCH less homework to get started and manage. Happy to hear other people's thoughts.
Agree 100%. Not raising rents is one of the most common mistakes that self-managing landlords make. Sounds like she could benefit from professional management as she scales.
I will hold out on hiring a PM as long as possible. I take better care of my properties than PMs will, I put in better quality tenants, I get higher rents. Not raising rent $25 of $50 bucks is a few hundred a year vs the one month of rent plus repairs is lose by turning it over. I think a big mistake new investors make is thinking they need to raise rents every year because Bigger Pockets says to. In real life it's not always advantageous and each tenant and year requires careful consideration. @@burbsboi18
@@burbsboi18this year I increased the rent only because of taxes or insurance. I increased the minimum that that will cover the increase. This was the first time in 3 years. I am not a greedy landlord and my properties are paid off
If you haven't seen "Dion Talk" on YouYube explain the "binder strategy" you should find it ASAP. He gets the tenants to ask for a rent increase. Great content. I've heard one of the top reasons people fail in real estate is NOT increasing rents. Sounds legit to me.
Another great episode. I’d love to connect with her because I’m ready to buy in Memphis but need to scope out the area to buy in B neighborhoods as a long distance investor.
Hey @CoachChadCarson, I was wanting to see a video on how the taxes work on these types of things. Since they own their own homes that they rent, how do you do your own taxes as a multiple home owner
I spent a few year fixing up some old framers in small towns outside dfw. . In my experience owner financing them was prefeable to leasing. The main reason was the pride of ownership that evolved from making a new home owner. Often the home owner even adds more value to the house and block for that matter. And I personally sleep better not having to concern myself with a tenant. A win wim imho. Thats just my experience as a modest, small town investor.
Your story about starting with an Etsy shop to save for your first investment was so inspiring. It shows that anyone can start small and still make it big in real estate. Loved this part of your journey!
2 is not enough. If a large expense hits, youll have no money for the month, possibly multiple months. Yes, the risk of a large expense increases the more properties you have, but the hit to cashflow is less, so its a tradeoff.
I love how are you thinking on the running your business I’d rather to have tenants for 10 years and every month good pay the rent / change the tenant every year for 10 years
i belive rentals can indeed be great. Owning your own isn't a wonderful investment...you need to put 2-3% back in every year and here anyway, that's about all the improve over time...$115k in 1999 and now appraised for $195k...biggest benefit is you have to live somewhere and rent ALWAYS goes up, mortgage should remain the same so over 15-30 years it's cheaper to own than rent (per month) and you do get your investment back where renters get nothing. I LOVE memphis! here flips are very hard to do...value finished less cost to rehab is what they're asking price is... Had i put money into rentals in the early 90s vs 'the market' i'd be retired now instead of working till I die. Still need to get off the bench myself on this!
This is true. Nicer properties are harder to cash flow right now. The strategies I see people using to make it work are: 1. Put more money down (yours or a partner's) - like in this video: th-cam.com/video/_eoyY-uo-Yo/w-d-xo.html 2. Negotiate lower interest rates with seller financing or private money 3. Buy at steep discounts by finding motivated sellers and/or distressed properties. This is the tried and true playbook for many decades in real estate investing. It was just a little easier the last 5 to 10 years.
Hey folks, here's one more thing I want people like you to understand: I have nothing to sell here. If you listen blindly to people like Casey, she may lead you down a road of disaster while she's earning income from views on her youtube channel. That's the truth. Listen to what works and delete what's bad. Find a seasoned mentor who has been in the trenches and experienced the downside. I could give you names of better people to listen to on youtube, but I'm not in the business of promoting. I'm here to protect inexperienced (and experienced) people from making bad decisions. In real life, it's not only the blind that sometimes can't see. Best.
Maybe cause it's a crime riddled area where no one wants to move. Then yes property will not go up, people still need places to live, so they go to towns and cities that aren't full of crime or heavy govt control
@@cruzmissile25exactly. Nothing is ubiquitous so there are outliers, but more times than not rent and values go up. Even if it stays the same or declines, you get something back vs just a renter over the LONG TERM.
Declining population over there…. Keep that In mind vs the USA…. Projection to continue to go up overall until the 2060s… so yes look at Japan and notice the difference
@@jennyzhang4196I hear you & understand rarely is anything 100% all the time. Generally speaking overtime it goes up more times than not. With that clear I digress, gotta take a calculated risk either way.
Come on Coach u still pushing this in these times. Thats cold coach. You must really not care about the people or your in a hole so big you have to keep pushing this.😢
@@F-BOTH-SIDES i don't recommend timing markets and figuring out when to get in and out. I like to always be buying and adjust strategies to make it work. Buy and hold. Long term perspective.
@@CoachChadCarson sorry coach, im in the process of removing my twitter fingers and stop saying thing that are not my business. I must be the change that I want to see. Sorry coach.
Ok you but 100000 dollar house and thine rent it for 1000 a year in 10 years you dont get your return yes its profitàble if money that you buy rental property cam from sky or wind 😂😂😂😂😂😂😂😂😂😂
![[[OFFICIAL MV]] เอิ้นขวัญให้อ้าย- อ๊ะอาย สกุณาพร | ค่ายเพลงเป็นหนึ่ง](http://i.ytimg.com/vi/83x6L3X3qh0/mqdefault.jpg)
I thank my father for giving me an inheritance of my first rental property. I am now motivated to purchase more and working on my credit profile. Bitter and sweet thank you to my daddy.
@@TygaMediaImages what a great gift from your dad! ❤️
You sound like a very rational person. I do exactly the same but at the same time still keeping my very good job. So buying and renting apartments is a side hustle for me. Right now I am renting 2 of these apartments cheap to my adult sons. When I stop working and go on pension, I can raise the rent if I need more money, or I can sell the apartment s cheap to my sons to help them getting their first home. It’s a great idea to invest in real estate while having a job if the economy allows that as you are investing in your freedom and pension.
Thank you so much for having me on, Chad!! I enjoyed our interview! :)
Having my morning coffee and getting sooooo inspired! Uhuuu...love it
thanks for sharing - very inspirational as i start my journey :)
It’s really random that I found this video in the current stage my wife and I are in. We live near Memphis and have been looking for our first property, but it is super sketch. I like the way you described that you must buy in the As and Bs preferably. It’s exactly how Thach Nguyen and Ken McElroy say is the key. How did you go about determining the As and Bs. I’m imagining As being like Collierville/Germantown. I also think that parts of East Memphis are higher tier. I really enjoyed this episode. We are planning to snag up 8-10 in the next 10 years
I loved this video and finally I think I may have found a community of people doing the same strategy as I. It wasn’t until a few weeks ago that I picked up the book “The Small & Mighty Real Estate Investor” that gave a name to what I am trying to accomplish. I have been watching Biggerpockets daily for just over a year now and got started investing in real estate 3 years ago. Since then, my wife and I have acquired 4 properties, 2 duplexes and 2 single family homes. We have solid incomes and a high savings rate. As a way to reduce risk and increase our staying power we have put down 35% - 45% on our last two deals. For some time, I have been tracking what my current cashflow is and what it would be if my properties were paid off. When my paid off bar hits my goal of $11K a month my wife and I planned on shifting from buying to paying down our properties. We are a little over halfway there, which is exciting. Almost everything I watch is about maximizing leverage, increasing your cash-on-cash return using as little of your money as possible, focusing on growth. My thought has been hit my goal with as few properties as possible, so I am not trading my job for another one. This episode really hit home with the strategy I am trying to do myself. It’s nice to hit a channel that shares some similar philosophies as I do. I will be excited to check out some more videos. Thanks Chad, for providing a different perspective on the topic of real estate investing!!!
welcome to the Small and Mighty team, Paul! And congrats on your progress and for applying your strategy consistently. I love your approach and your plan. I can tell you'll be successful. Stick around - new videos each Monday, and I send a free newsletter every Tuesday (coachcarson.com/toolkit-YT)! I hope you find it helpful.
No pressure - but we also have a private paid community with a lot of intermediate to advanced investors in the same boat as you, helping each other get to financial freedom. You can check that out at coachcarson.com/rpm
Love this girl! She’s awesome. I am so happy to hear about her success story! Congratulations :)
Love the One Rental at a Time network. Casey is phenomenal. Great interview, thank you!
Its not one rental at time … she said none is payed off - all 8 are on morgage , her husband wants low risk to pay them off and skyrocket the cashflow but she said no as she wants more units.
One at time in their case is as soon as they save another bag , they go for downpayment on another unit…
Their debt to bank is very very high but she doesnt care as she beleive in her tenats to stay forever on inside her ap. units …
during father's day i ate at a really fancy Chinese restaurant and noticed a very old healthy looking man at the table next to mine surrounded by like 50 grand children. Thats what its all about for me. I'm in it for that kind of future, not the fast cash flow. I want legacy flow lol.
That’s happiness! That’s true happiness. Success if great but happiness is more important than
Its funny how quickly real estate investing will "red-pill" someone. Lol
Loved this video Chad! I wish more people could be patient for the appreciation especially in places like Texas. The real estate ALWAYS goes up eventually! Unfortunately too many people are stuck on ONLY cashflow and to invested in old podcasts. Thanks for staying current Coach Carson!
Lots of gems and good episode. Only thing I disagree with her on is the The C & D neighborhoods from 2016 have been gentrified and a lot of them are Way up, maybe not in memphis, but for sure in Nashville, Charlotte, Atlanta, Raleigh-Durham for example, those C &D ones are way up. Just goes to show no advice is ubiquitous for all markets and all ppl. if a city is having a population increase, having a property is a long term win over time.
@@02nupe agree. C & D neighborhoods do have a lot of opportunities. Sometimes the best if you're patient in a growing area.
That was an awesome interview! I love the simplicity! 😊
Good on her making this transition. As time goes on. Those 8 properties will need much required repairs. Some of those will be expensive. I own 10 in the Florida panhandle area.
To refute some things she’s saying. Rents have came down in some areas. I’ve had to reduce my rent in some of my houses.
She seems very salesman like. I enjoy her energy but, some unwitting people without good mentorship can have buyers remorse. Especially when the numbers are not amenable.
Those repairs are apart of the game, the benefit is the tax write off. Generally speaking rents go up over time and of course nothing is ubiquitous for every scenario. It’s all about giving yourself options and real estate can help provide that option to not work in a traditional sense.
This was a great interview! That girl's got some energy! Great positive attitude. I needed that today, I am re-energized and motivated. Thank you
How are you putting 20k for a downpayment....investors are required to put 25 percent down which is 100k on an average 400k house?
Your problem is location
You must be in a high price location,
“forget the kitchen” 20:23 😆 she’s the type of woman you want on your team. wise.
Getting ready to jump feet first into real estate investing, been a stock market investor and watching the safety and steady growth of my long term has helped me get the confidence to jump feet first into real estate because 10 years ago was the best time to plant a tree the second-best time is today. The farmer never waits for perfection.
well said! thanks for the comment.
I love this interview and me and my wife brought our first property in 2021 and plan on buying our second property next year 2025 and I’m glad we made the best decision to invest in real estate.
@7:42 you could say the same thing about the stock market. Time in the market wins over timing the market. And the stock market takes MUCH less homework to get started and manage. Happy to hear other people's thoughts.
If you are not raising rents modestly, you are not keeping up with inflation.
Agree 100%. Not raising rents is one of the most common mistakes that self-managing landlords make. Sounds like she could benefit from professional management as she scales.
Yeah true but if she’s happy then that’s all that matters
I will hold out on hiring a PM as long as possible. I take better care of my properties than PMs will, I put in better quality tenants, I get higher rents. Not raising rent $25 of $50 bucks is a few hundred a year vs the one month of rent plus repairs is lose by turning it over. I think a big mistake new investors make is thinking they need to raise rents every year because Bigger Pockets says to. In real life it's not always advantageous and each tenant and year requires careful consideration. @@burbsboi18
@@burbsboi18this year I increased the rent only because of taxes or insurance. I increased the minimum that that will cover the increase. This was the first time in 3 years. I am not a greedy landlord and my properties are paid off
If you haven't seen "Dion Talk" on YouYube explain the "binder strategy" you should find it ASAP. He gets the tenants to ask for a rent increase. Great content.
I've heard one of the top reasons people fail in real estate is NOT increasing rents. Sounds legit to me.
Another great episode. I’d love to connect with her because I’m ready to buy in Memphis but need to scope out the area to buy in B neighborhoods as a long distance investor.
Everything is cyclical, and history repeats itself. Everyone forgets that when everyone is going well.
Great video !
Thanks for motivating us to do better with our lives !
Don’t give up on your lakehouse dream! There's deals out there.
Yes there are! Thank you! :)
For my retirement I want a building with 2 rooms for RB&B managed by me. I like being a landlord.
Hey @CoachChadCarson, I was wanting to see a video on how the taxes work on these types of things. Since they own their own homes that they rent, how do you do your own taxes as a multiple home owner
Great info! Thanks to you both for sharing it with us!
I spent a few year fixing up some old framers in small towns outside dfw. . In my experience owner financing them was prefeable to leasing. The main reason was the pride of ownership that evolved from making a new home owner. Often the home owner even adds more value to the house and block for that matter. And I personally sleep better not having to concern myself with a tenant. A win wim imho. Thats just my experience as a modest, small town investor.
Good job. Hope you can pay them off soon. But I can completely relate. I only buy where I feel like I can live in.
Your story about starting with an Etsy shop to save for your first investment was so inspiring. It shows that anyone can start small and still make it big in real estate. Loved this part of your journey!
If she only chooses richer people that would likely be key…. WTF poor people can’t/don’t pay can not allow her different options…
Would you ever recommend buying through a turnkey provider for a w2 employee?
Starting my journey - thanks for sharing, very interesting!
Loved this !!
I think this video might push me to start investing
@@Halfflip let's go!🙌
Bought a house for $92k 😳 cash flowed with a 20 year mortgage 😫
Wow. Nice job! what were the rents on your property?
Section 8 on those D neighborhoods. Increase rent
2 is not enough. If a large expense hits, youll have no money for the month, possibly multiple months. Yes, the risk of a large expense increases the more properties you have, but the hit to cashflow is less, so its a tradeoff.
Tbh you have no clue! So many variables still! To just think this! Your very loss my friend
I love how are you thinking on the running your business I’d rather to have tenants for 10 years and every month good pay the rent / change the tenant every year for 10 years
You don’t think most landlords would rather have “paying” remnants…. Every place I have gone too demands both paystubs and check for employment… 😡
Wow great podcast good strategy thanks for sharing 🙋♀️👌
Glad it was helpful! thanks for watching!
i belive rentals can indeed be great. Owning your own isn't a wonderful investment...you need to put 2-3% back in every year and here anyway, that's about all the improve over time...$115k in 1999 and now appraised for $195k...biggest benefit is you have to live somewhere and rent ALWAYS goes up, mortgage should remain the same so over 15-30 years it's cheaper to own than rent (per month) and you do get your investment back where renters get nothing.
I LOVE memphis!
here flips are very hard to do...value finished less cost to rehab is what they're asking price is...
Had i put money into rentals in the early 90s vs 'the market' i'd be retired now instead of working till I die.
Still need to get off the bench myself on this!
Great info. Thank you.
Challenge at this interest rate and these prices is finding anything that cash flow at least to the point of covering incremental cap x costs
This is true. Nicer properties are harder to cash flow right now.
The strategies I see people using to make it work are:
1. Put more money down (yours or a partner's) - like in this video: th-cam.com/video/_eoyY-uo-Yo/w-d-xo.html
2. Negotiate lower interest rates with seller financing or private money
3. Buy at steep discounts by finding motivated sellers and/or distressed properties.
This is the tried and true playbook for many decades in real estate investing. It was just a little easier the last 5 to 10 years.
@CoachChadCarson equity share with someone's IRA is also another good option.
@@CoachChadCarson isnt seller financing dangerous? They can claim you didnt pay them and take possession of your unit?
@@noahcash- read about the topic. Is not what you're thinking
What about paying property taxes for all the property? How does the cash flow even you make to pay for property taxes ?
Usually my property taxes are the same as about 1 or 2 months of rent. So, I use the rent to pay it.
Hey folks, here's one more thing I want people like you to understand: I have nothing to sell here. If you listen blindly to people like Casey, she may lead you down a road of disaster while she's earning income from views on her youtube channel. That's the truth. Listen to what works and delete what's bad. Find a seasoned mentor who has been in the trenches and experienced the downside. I could give you names of better people to listen to on youtube, but I'm not in the business of promoting. I'm here to protect inexperienced (and experienced) people from making bad decisions. In real life, it's not only the blind that sometimes can't see. Best.
Great story! Thank you so much
How can u do that now????
did she mention what area in Memphis, TN she first invested in? or what ares are good?
@@666miguel99 she didn't say specifically. But Casey is very active on Instagram so I recommend reaching out.
Very helpful Thank you for sharing
8 rentals you don’t say lol it would help me to lol I want in
Yo, how do I buy stuff in this crazy inflated market?
Great video
Way to go!!
Sounds like my wife. She’s has so many words 😂
Was she buying these houses with FHA or conventional?
conventional I believe.
It’s NOT TRUE, PROPERTY does not ALWAYS go UP, I wish they would not lying, I go take u now where the price are the Same as they were in 1971….
Maybe cause it's a crime riddled area where no one wants to move. Then yes property will not go up, people still need places to live, so they go to towns and cities that aren't full of crime or heavy govt control
@@cruzmissile25exactly. Nothing is ubiquitous so there are outliers, but more times than not rent and values go up. Even if it stays the same or declines, you get something back vs just a renter over the LONG TERM.
No you can’t
Beautiful 😊
That was 8 years ago (artificially low rates)
Investors are still buying today. Just have to be more creative and/or hustle to find deals that make sense.
@@CoachChadCarson way to be optimistic.
Interest rates (commercial) was 18% in the early 1980’s and my dad said he did just fine, and told me to stop complaining about 7%. 😅
@@mike2959' real inflation' wasn't the same, apples and vegetables (cpi + food + energy/fuel)
Always gonna have a hater finding an excuse
Real estate always goes up. 😂
Property does not always go up in value... 😮
Look at Japan...
Declining population over there…. Keep that In mind vs the USA…. Projection to continue to go up overall until the 2060s… so yes look at Japan and notice the difference
@@02nupe my point is to the comment given in the podcast: real estate value always go up... Which is not true.
@@jennyzhang4196I hear you & understand rarely is anything 100% all the time. Generally speaking overtime it goes up more times than not. With that clear I digress, gotta take a calculated risk either way.
@@02nupe I agree on this point: take well calculated risk.
Tbis guy sounds like warren buffet
👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾👏🏾
I own 1 rental and don’t need to work lmao it all depends on your cash on cash return
If I got a job I could buy another rental property to give me more freedom but I have zero debt and don’t really need to.
Come on Coach u still pushing this in these times. Thats cold coach. You must really not care about the people or your in a hole so big you have to keep pushing this.😢
@@F-BOTH-SIDES i don't recommend timing markets and figuring out when to get in and out. I like to always be buying and adjust strategies to make it work. Buy and hold. Long term perspective.
@@CoachChadCarson sorry coach, im in the process of removing my twitter fingers and stop saying thing that are not my business. I must be the change that I want to see. Sorry coach.
Ok you but 100000 dollar house and thine rent it for 1000 a year in 10 years you dont get your return yes its profitàble if money that you buy rental property cam from sky or wind 😂😂😂😂😂😂😂😂😂😂
She needs to slow her talking down. I’m turning this off