How to Get Rich in Real Estate! - Jay Morrison
ฝัง
- เผยแพร่เมื่อ 28 ส.ค. 2024
- How to Get Rich in Real Estate - Jay Morrison
Jay Morrison Academy
My Academy is for the aspiring entrepreneur, who is looking for an actual blueprint to make money in real estate. If you don’t like hard work, then the 12 months it takes to complete our courses will be a total waste of TIME and MONEY. If you work your butt off like your family’s LEGACY depends on it, then you will learn how to build wealth and achieve financial freedom through real estate. I am so happy I can finally say, “I did my job.” My team and I have created a vehicle for people like you, who are coach-able and hungry to improve themselves, to learn the cornerstone of wealth in America.
So please be sure to visit jaymorrisonacad... to sign.
Stay Connected:
Jay Morrison Instagram: / mrjaymorrison
Jay Morrison Facebook: / mrjaymorrison
Jay Morrison Academy: JayMorrisonAca...
TREF Instagram: / tulsarealest. .
TREF Facebook: / tulsarealestatefu. .
TREF Website: TulsaRealEstat...
Author of Two Amazon #1 Best Sellers:
Purchase "Lord of My Land" here: amzn.to/2mQddzU
Purchase "The Solution" here: amzn.to/2obEqgL
![จบจนได้ ! | Black Myth: Wukong #007 [ตอนจบ?]](http://i.ytimg.com/vi/DSqvWndF0sw/mqdefault.jpg)
i watched this young black man since i been out of jail and he pushed me to do big things and now i have 4 houses trying to get to my next part in life.
Welcome home and continued investment success to you!
how did you get the first one, how much did it cost & when did you pay it off?
Keep grinding bro.Congrats!
Joined the military to get my first house, working on the next one all because of Jay. God is so good for showing me this information!
Just bought another property but learned from various speakers n my mom (teacher n investor in the inner city)Cash flow is great plus I am a Realtor as well :-) get paid to buy n sell my own property #BossChick
I just subscribed I'm new to the game just got my 1st condo Love what u guys are doing and I want to soak up as much game as I can
LaWanda Lendsey Real Estate Broker can you contact me 3236708070
LaWanda Lendsey Real Estate Broker tryna buy my first duplex
LaWanda Lendsey Real Estate Broker SO DOPE!!!!!
Don't get caught up in the accuracy of the math. The concept is REAL!
Daemon Wesley yes bcuz he didn't calculate the mortgage for the second and third house😅😅
You're right. He skipped some costs but all that means is it will take a bit longer to generate those figures. Still the right concept tho.
Pessimistic attitude
@@dripllc5088 not at all he's 100% right. Jay Morrison didn't calculate everything right but the concept is right.
@@StatusSymbol I was talking about the people that are focused on the mat instead of the concept
Yeah I hate when people have negative comments. Yes he made a mistake on some of the numbers. However he's a millionaire and he really doesn't have to share nothing with any of you.
What if the person who wrote negative comment is also a millionaire and only said it to prevent someone from listening to bad advice? Is it okay in that instance?
The sad part is that the people who continue to proceed with a negative approach and mentality to life will continue to lose. Even if they happen to become rich, they will be rich and miserable.
How do you know this man is a bonified millionair
@@daviscd6837 look it up genius 🤔
@@deepatterson1835 I looked it up and seeing a lot about fraud
I'm only 17 going on 18 and about to acquire some land or a small house in a bidding auction soon (bid prices in Missouri start about $200 or around there and go up). I'm trying to better my future by starting off young. I don't party or get drunk, I work my 40 hours and go to school. Hopefully my plan works out, great video!
With that mindset you're already successful...👉☝️👍👍👍
Josue Ramirez
Your first mistake is to be bragging on the little money
👏🏽👏🏽
Glad to see this young man and so many other young folks on this thread getting into the real estate game. The best time to build wealth is when you're 40 and under. For the grown and sexy 50 and over set, let NO ONE tell you it's too late or that you're too old. Start now, start small and keep building.
this video is sensational to think this man gave us million dollars worth if game for FREE
el fuerte, he did miss out one point in those two other houses. He says your making 2000 and on the other that your making 3000. Well not really, like the first house you still have to pay mortgage. However.. you will still make money from those two, and equity but it wont be as much as that. All three multi-family houses will be like the first duplex he bought. so instead of 2000 it'll be more like 1600 and the 3000 will be more like 2000. Thats still income though... It works im going to try it myself. I suggest you all do too, just study up before walking into the real world. YOU'LL BE BROKE IF YOU DONT.
You didn't listen well, he said those property's income plus your employment income. The money you make from working will most likely be used to pay off the mortgage.
Thanks Richard Brown yeah that makes sense. Also all the expenses like electricity and such would also get reimbursed by your weekly job pay check.
Julio Martinez so what was the mortgage on them two houses where you make 2000 for one and 1600 for the other one ?
Julio Martinez also it's not as easy to keep good tenants in a house either ...the unemployment is high as hell in the United States and most familys can't afford 1000 or 1500 dollars rent ,most ppl making that type money to put out is paying a bank a mortgage too so they will own it
TREF gave me my money back!!!
Powerful stuff. I wish I knew this years ago. I'm only 28 and still can pull this off but would've been better off knowing years ago. Thanks for knowledge.
lol Im 40 enjoy your head start lol
reggiea86 yes they do t teach our children this. Would have been great too know in my twenties lol
Brilliant... Black Wall Street right from my living room. This was valuable information. I am getting started today with acquiring properties. Get busy people!
Finally someone that speak clearly about it i cpmpletely get it thanyou
Are your sentiments still the same as of May 2024?
@@ivojohnson6829 You are correct. Jay was not the right person to lead the mission, but we don't need leadership. We can lead ourselves. Information over personality.
God is Not Making No More Land That's Real Talk !!!!! I just adopted you Big Smile!!!!!
I'm here at 40. Nonetheless, I'm ready! Been buying stocks for days too. :-)
Never too late
I'm certainly not interested in discouraging you from anything but (ETFs) Exchange Traded Funds via a Roth IRA might be a better way to start in terms of buying stock. Peace.
@@congosrevolution8625 right
@@slappywhite2669 I happen to have both now. Stocks, which I am new to having. But my pension, IRA Roth, 401b, and an annuity have all come from my jobs worked. Piece!
Play the game don't let it play you
Jay man you really an inspirations bro, I'm fina go ahead an wanna get into this Real Estate Business. But I'm gon need to build my credit up like you said in the first video... It gon be a process but I'm down I'm tired of living by the rules of someone els when I could be my own boss an make my own moves... I'm also fina hit up Google an see where I can take these Real Estate Classes an maybe obtain a Real Estate License myself... But you are truly the man for real bro, an inspiration to me or anyone that comes from less fortunate backgrounds because you come from the streets an you played the block for half of you're whole life but, you took your hustle mentality to something far more greater then that. An not only does it come with cash money an great credit which are phenomenal perks, but you got wealth which is far more greater an I salute you for that big brother an wish nothing but more blessings to come your way. You definitely inspired this young 21 year old Bronx male 💯... An also thank for the knowledge you've giving me an everyone els, I truly appreciate it.
Yessah. You still young. You can make it happen
Jay Morris definitely guide my way now own a duplex I live on one side and rent the other side out live completely free on top of my 45- 50k a year I am now remodeling my basement adding bedrooms getting ready to rent this side out and get my second property thanks J
This guy is writ in every thing he explained if you do it on time. So if you start building your credit starting from high school, you will reach to what is he talking about.
So if you old enough, that you missed the right time. Get it to work with your kids who you care about the most.
So yes you can reach to hi to buying a hotel if you do things right.
I have done the things with the secured card, with in 2 years I had credit card lines worth of over 100,000 dolor. In 2 years, if you do things just as he did say. Specially if you start paying more then your minimum credit payment.
His plan is 100% true works
Are you still sure about that plan still working 100 %? 🙃 yikes
The concept is real however Jay adds all the rental income into cash into your pocket. He never subtracts the mortgage payment. The $2000 or $3000 he keeps referring to is drastically a different number. Most of that will get eaten away by the mortage/PMI cost. The high level point gets across fine, however can be slightly misleading with the numbers.
Phillip 6:40 mark
Exactly, green house 2 and 3 has mortgages attached to them as well. That $2000 he talking about won't be $2000 regardless of who you partner with or what government program you find.
I know this is an old video but i have a question. I understand that before you started your real estate career you “were in the streets.” What advise would you give to a person who made a bit of money lets say 50k -60k in the street and now wants to get out and get into real estate. More specifically how can that money be used to invest in real estate. Hope to hear from you.
Hit me up bro
This video should have millions of views!
I have been following you for a while but this video by far is the best. I really needed to hear this today. Thanks. ...
Freedom thru good Credit and Real Estate thanks Jay
jay's personality kinda shifted lol this was one of the first vids i watched of him, that dry humor was hilarious
In this video, Cash flow analysis doesn't consider tax, mortgage, and maintenance cost. Cash flow is way over profit margin of a 200k loan. Don't get me wrong, this man knows his stuff, but he knows the college student in the class won't understand the more complex analysis of cash flow. At least, that's why I think he didn't bring up the subject. If there were investors in the audience, I'm sure Jay would hold his own and explain the correct cash flow analysis. However, he does explain the concept very very well.
+Tens Muri I agree.. But he covered his butt by using the term Gross Rental income..
#NOTICED HE CONVENIENTLY FORGOT TO MENTION UTILITIES, HOA FEES, AND ETC. ???????
#SKEPTICAL EYEBROWS RAISED.
#NOTICED HE CONVENIENTLY FORGOT TO MENTION THE UTILITIES FEES, HOA FEES , AND ETC.???????
#SKEPTICAL EYEBROWS RAISED.
THE BLUEPRINT!!!!!! man im going to be a millionaire. thanks Jay
Halfnatty you a millionaire yet?
Well.. . Are you?!
Did you become a millionaire?
Jay your the man. Thanks for all the TH-cam videos. I watch all of them.
I'm going to start today....I'll check back next year.
JR7827 update???
Bump...updates??
Update?
Is he there..?!
Updates pls!
Update???
Man I appreciate you dropping jewels JM. You opened my mind!
I wouldn't want the tenants to know I'm the land lord. But a powerful video. Working on the FICO now.
Jay you never said anything about paying the mortgage for those rental properties.
Yea I agree
Most of those numbers are after everything is paid.Its called CASHLFOW. But I see what you are saying,he should tell a little bit more about the process.
mostwantedjames Thanks for point that out. But what do you mean after everything is paid?
Good observation. You probably have to charge more for rent than the mortgage to make money.
I was saying the samething. The #s arent all profit..theyre actually significantly less. Nonetheless the blueprint is solid just the #s are misleading. But if it gets people off their ass to try it im all for it. Its a win win if you ask me.
They man is a good conartist
I’m a little confused. Can someone help me understand?
I get the part where he is saying he is living for free in the duplex because the tenant will be paying for the mortgage. Then he started saying how he is making $2k and $3k a month with the other duplexes, I don’t understand how is making a total of $5K when he still have to pay the mortgage for those properties. So depending on the mortgage, which I’m sure is going to be at least a $1,000, he wouldn’t be making 5K a month. It will be less right?
Good video, its a straight road map to building wealth. Now all thats needed are the details aka pot holes, roaming street gangs and cross traffic cars that you need to dodge on that road to success.
5 years on after watching this at 28 years old now I’m sitting on a duplex i built and rented out in queensland australia thats already making 1000$ a month passive income and well on the way to being worth 1 million aus dollars, it was hard work and definitely some stress involved, some lessons learnt too for the next ones- but this video and the awesome content jay put out i am so thankful for the inspiration you gave me! Im the lord of my land 😎😎😎
Wow! This is one of the dopest testimonials I've ever received. Thank you!
Air rights don't apply anywhere you own a home..
There's zoning regulations...
@JayMrRealEstate Thanks for sharing your blueprint and journey. I was just telling my team we need to buy houses with our credit so we could continue to the next step for our businesses. Well done Sir and Thanks again.
Thank you for making this accessible...this actually changed my P.O.V. about real estate and enhanced my econ senses 😁
I like this guy. Way more relatable than GC.
Your not looking at the bigger picture. He bought a multi-family house because he wanted a secure investment that would allow him to build more credit and he won't ever have to worry about not paying his morgage
#LET ME STOP YOU RIGHT THERE SHANAYNAY!!!!!!!
#STOP MISINFORMING PEOPLE LIKE THAT!
#THE GUY ALREADY HAD A RENT FREE OPERTUNITY WHEN HE PURCHASED & LIVED IN THE DOUBLE FAMILY DUPLEX UNIT!
#THAT SINGLE HOME WAS NONSENSICAL TO SAY THE LEAST, CAUSE HE COULD HAVE CONTINUED TO LIVE IN THE DUPLEX AND IT WOULD HAVE MADE WAY MORE SENSE!
I'm 16 years old and watched the whole video and I really want to learn more about it. Recently my neighbours bought our house I kept asking to myself 'why would they buy our house if theres much bigger' but I understand it know a little what they were doing ''He who owns the most land WINS'' sorry for my english I from Belgium.
haha ben ook 16 kom uit nederland
+Sameer Pal ben nu al 18 herinner me dit niet meer hoor
+MrThugsome ja zag et al was lang geleden geplaats
Have you become a mogul yet?
This is what’s real. Nothing else matters. Money matters.
Love the tutoring. Well explained for the layman to understand and not like some other persons who try to explain certain things and leave you more confused than before. Thanks Jay.
Can you help me to understand why he disregarded the fact that two other mortgages would be needed to be taken out on the other two properties after the first one and there for the buyer wouldn't actually be making like the 5Grand that he said would be extra but rather the mortgage minus the rent would the be it
Jay Morrison, thank you for your inspiration and information. Please keep up the good work, Brother, and I wish you much continued success!
Took notes the whole time man. Much love, u got me thinking on getting myself a license man!
What about the mortgage payments for all the new properties you are acquiring + property tax ? Is the amount you are charging for rent able to pay all that off?
Easier said than done! What about maintenance and inspections that can be costly. You have to at least have a reserve account for those problems!
One never owns their land
You need a dry erase board that marker on paper is killing me
Exactly!! Niggah can drive a cream range rover but cant invest in a dry erase board!! Smdh
@@hilljin6936 GET THE FREE EDUCATION AND SHUT THE FUCK UP
Refered to this channel by my high school friend Tatenda Muranganwa.............. great resource!!!!!!!
thank you!
This guy is going to coach me.. I have to find him..
Great insight. I'm getting ready to purchase and flip my first property!
highly recommended channel. nice content sir keep uploading educational vids about real estate
Mr Jay apart from your rent we have to calculate electricity and other bills and risk factors of a tenant not staying in the place. how do I deal with that?
Has anyone did this in 2018? Im thinking about doing this but market seems a little high now, should i wait?
Been listening to you all day, GOOD advice bless you
THANK YOU BRO JAY FOR STEPPING UP YOUR GAME. IM ALL FOR SUPPING YOU.IM IN PHILLY PLEASE LOOK ME UP.I HAVE BEEN READING THIS FOR 10 YEARS. NOW SO MANY IDEALS TO SHARE WITH YOU.PEACE AND ALL GREAT THINGS FOR YOU.THANKS FOR BEING THAT MAN OR BRO THAT STEPPED UP.
I still rock with this man!
What about the cost of upkeep " eventually ..." a new roof " becomes necessary
Thanks for inspiring fam, im looking to get into the real estate game and cop a multi family
My only issue is, I guess finding renters. I'm scared no one will want to live in my property that I own.
whatttt!!! Drop them gems sir!!! 👏👏👏
You can wholesale if you dont have the capital. Wholesaling can be a pain but it does work
In real estate wholesaling you are essentially the middle person between the seller and buyer. You wouldn't be investing in the property which is why you don't need capital or credit, all you need is just the right strategy.
his swag kinda remind me of denzel washington lol but anyways, that was some powerful information that im really REALLY considering. but i have one question, doesn't it still take money to make money. i understand credit gives you access to ownership but what about plan B if everything doesnt fall in place the way you expected. like what if it takes too long to get your properties rented, wouldnt you need money to keep yourself out of debt for all this property you're paying for...
dante jackson the answer is yes. Many of people like Jay are showing examples that are built on the perfect scenario and the assumption that everyone manages their properties perfectly. The reality is far from that, and could potentially land you in trouble if you aren't getting those renters to pay.
Damn I can't believe this was I was doing this when I was 18 but I didn't really know why the banks were always loaning me more money. Sucks I messed it up though.
Anthony Huerta how’d you mess it all up?
It’s amazing information thank you so much for sharing! I already see myself owning real estates properties and wealth following to the T this information yes!
BLESSINGS
You didn't make 300k plus them 6 years cause you had to pay the mortgage on them ... You might of made 500 a month after you paid the mortgage on them 4 houses ...but another big factor is getting ppl to pay rent every month too ... It's a good ideal but it don't work as good as it sounds like it will
Charlie Kennedy I am so glad you said that! I was wondering when the component was going to come in.
God bless this man
DAM! So when I get my real estate license and buy my own property I can get 3%!?
Holy $hit!!
there are some details that apply..I literally am looking that portion up. Apparently it can be a grey area in real estate agents and the broker (basically if you work for a broker...that broker is going to want some of that income)
I was wondering if the agents are using the leads from the broker to attempt selling homes on the side...
You don't need a real estate license to be a landlord
I love it its Real Estate yessssssss i want to win, Im full pledge am listening I am new here in the real estate game and ready to soak up as much information that i can thank you so much for sharing
I believe he started out with the right intentions but the flood of investors money got the best of him
Thank you Jay-YAY! lol that was awesome and encouraging. Your video was so good that it motivated me to work on getting my loans out of default WHILE I was watching to the video. Super cool!
***My fellow TH-camRS, please do not give any attention to negative comments because. It is a distraction from what we all need to focus on, which is learning how to become financially FREE!!!!!***
"Energy goes where attention flows"
I learned so much. Thanks Jay.
But jay left out the fact that you have to already have money to make more money, and that's the prime problem, PPl who are broke can't make more money because they don't have the money to jumpstart there success.
You need to have some kind of income. To be a capitalist you need capital. You can't be an investor without capital. Step 1, learn a skill or trade, get a job.
+Mook Supreme You don't need money you need credit .
He just told u that u can live rent free. Save your "rent money" and your building wealth
Hey Jay, do you have a blueprint program getting into actual DETAILS that you sell?? I would like to be A student
Can you explain getting commission on your own houses more? And how long is the real estate school?
loved the video and implementing.
I love this dude but today you can definitely make money off renting houses with airbnb.
You rent the house and list it on the Airbnb platform. There are a lot of entrepreneurs using this strategy. I personally did it, but today i prefer buying houses with mid low value and turn it into high value by flipping it or rent them as airbnb's
Is the strategy still viable, especially with the banning of Airbnb parties?
I like the philosophy but the math on this is just all wrong, no mortgage payments were removed from the rental properties so the numbers don't add up. And if the 12 unit building is $3Million and they're asking for 30% down that's $900K not $90K.
I totally agree like he completly disregarded the fact that a person would also need to have a 2nd and third mortgage on those other two properties after the first rather the person would be breaking even or possibily making a little bit over the mortgage payment from the rent but it would not give that person that much the only great thing with this theory I think was the fact of the equity appreciation because once the properties are bought you can then gain equity appreciation over the selling price
real talk
+SupaWest real talk
Regardless of the numbers being this isn't philosophy you dumb if you think it is
I love this guy.
*Dear Jay,* just want to thank you, amazing. All the best to you.... id be interested in your course, but would be starting from limited funds. Which course do you recommend please
After getting the loans for the houses how long would it take you to pay the banks off?
+Edwin Lopez doesnt matter, your tenants are paying it for you! let them worry about that
Thank you my young brother....
Very powerful.
I have a question. If you're getting property's and you receive the 2k and 3k from the property's they still have a mortgage to be paid so isnt they money you're getting basically going back into the houses? Or are you talking about if you bought them cash and just receiving the income from them since they're paid for? Serious question because I rent out 2 homes and 1 duplex so im curious how that works
What if you have no money/fix income, not a college graduate but own a home, what then? Does this concept only work for that scenario or is it universal to all financial situation with a large bank account?
what an amazing b opportunity..... I will be Jay Morrisons agent
Thanks so much Jay!!
Wow !! Thanks for the tips !!
3 million dollars and bank wants 30% and its 90K? lol. 30% of 3 million is 900K!
Yeah, knew what he meant though. lol
when are u coming to fort worth texas?
Jay a genius but in Detroit the system favors the tenant so much that the tenant don't even pay and u gotta have 3000 just to put them out
laMar Horton
Therefore you need to stay away from buying rentals in Detroit
Thank you from London
Bro your doing well but this is extremely misleading. All of this is assuming your owning these properties free and clear. This is really dangerous having people jumping into these situations face first. Dangerous.....
Very very helpful!!! I do not know any of this.
Not your property if you have a mortgage. Real estate has cycles it does not always go up in value. Landlord is very hard, hard work if you have the wrong tenants. Living with tenants can be horrible. I would not advise it. Out of college you cant get a mortgage without credit unless you pay cash. Hes selling you a dream.
Even though you are able to make the payments on the houses through the use of other income from other properties, how are you able to fully buy the properties in such a short period of time!? Because paying a mortgage and actually owning the house out right are completely different... Just a thought.. Because over here in the uk it's different to the US I'm guessing, any thoughts or suggestions?
There is no need to "fully buy the property" when investing in real estate there is no point in having more money in the property than you need.
To explain further... ideally you will be able to cover the mortgage with the rental income and in some scenarios have a few hundred dollars left over. The money is made when you sell the property... even though you may only have 20% of the actual value of the property invested you still profit the whole difference in price increase.. this is called "capital appreciation"
revell55 accumulate mire funds, but a rehab property, fix it up and sell it. use that money to pay off the debt of the property that you owe.
You don't want to buy the property in full because you want to build value for that property over years and plus paying off a mortgage will help build trust with the banks because of your long time of making payments. The point he trying to make is build trust with the banks and pay off your mortgage through rental income and build property epuity so you can move on to something bigger so you can become a millionaire.
You can pay a mortgage and still be a homeowner - there is no such thing as owning "outright" - you either own or don't own. When you buy a home YOU actually buy it with borrowed money from the bank, but the house is yours to do what you want with. This is why you can sell it when you want. The reason that the bank can take it if you don't pay is because in the contract you are using your new property as collateral for the loan. Collateral is the key to this. If you own 3 small properties worth a combined total of $1 million, you can get a loan to buy a $1 million property using your other properties as leverage, no money involved, and so on.
What part does inflation play in the property's value going up over time?
Thank you Jay!
Yea real estate is better then stocks