I like how thorough this is. Gives a good idea what owning multiple properties is like! I've been shouting out your channel on IG to my followers, but would be great to tag you there so people can click through and get here. If you can boost your IG following, you can link them directly to these videos too. Extremely helpful stuff.
@@ItsMandy I think you should do it to expand your presence. Make posts once a week about your real estate progress with the hashtag #firecommunity, #reicommunity, #realestate so your posts are seen by others. When people click through and follow, have your latest video link on your profile so people can watch it. I think what you post between there and here has so much potential to grow your channel quickly.
Yes, thank you for the idea! It will vary a little from state to state, but I just come to an agreement on price, down payment, interest, and term length with the buyer and then have the title company do all the paperwork. My state allows me to owner finance either by contract for deed or by mortgage, but some states only allow a mortgage. There are pros and cons to both so make sure to do a little research if your state allows both methods.
It's Mandy what’s the benefit vs just selling the property and 1031’ing it into something else? I understand that the terms are tough, like you could take the property back after only a single missed payment. Looking out
Mandy, your very sharing and extremely cute. You seems like a good person. Several thoughts 1. You have some cash flow on these properties what is your expected appreciation after 10 years for all the work you are putting in? 2. Let your viewers know that you beyond just the $14K per year you are earning on this property that you building equity and getting get tax deductions. 3. Is there any thoughts to get cash out of these properties and purchase more real estate? The BRRR method?
Wait I’m confused, with 16 properties you make around only 30,000 annually? Or is there something I’m missing I’m learning abt real estate and rental property management and trying to figure out which one is right for me
Hi Mandy! I’m starting out with my first rental property and just looking a different perspectives and ideas on how to best manage it. I saw one of your video where you recommended to ask for a W9 for every contracted BEFORE they did work for you; was this only because of your status as a corporation? In my case I have a house I own that I’m renting out. Do I still have to ask for those W9’s or no because I’m not a Corporation?
Technically yes. The IRS says you have to file a 1099 for all work done over $600 on any house that isn't your personal residence. However, I bet very few people actually do it for just one rental property. If you have someone who does your taxes, I would ask them what they recommend.
1) Way to go on fixing your own plumbing issues whenever possible! 2) Good job for 100% rent collections.
Thanks!
Addicted to this channel- binge watching😁😘
Hey Mandy, I like your videos! You are a good and young entrepreneur! You are on your way to financial freedom ahead of your peers!
You are awesome and very efficient landlord to fix these issues. Kudos!
Thanks for another great video Mandy!!
Thanks for watching!
Yes, anytime you can do yourself, do it!!!!
I like how thorough this is. Gives a good idea what owning multiple properties is like! I've been shouting out your channel on IG to my followers, but would be great to tag you there so people can click through and get here. If you can boost your IG following, you can link them directly to these videos too. Extremely helpful stuff.
Thank you! That's so nice! I actually don't have an IG account though. Maybe I should make one?
@@ItsMandy I think you should do it to expand your presence. Make posts once a week about your real estate progress with the hashtag #firecommunity, #reicommunity, #realestate so your posts are seen by others. When people click through and follow, have your latest video link on your profile so people can watch it. I think what you post between there and here has so much potential to grow your channel quickly.
Good job I appreciate your videos and your courage to get in to this business,actually I want to start rental properties also..
I think I just found my youtube mentor❤
Great video! I actually use someka's rental income and expense template and it's very useful. Thanks for the video really enjoyed this one.
Explicitly explained. Subscribed❤
Great job looking forward to the upcoming videos.
Thanks!
Very informative video Thank you!!
Like to see new video updates.
I woul to know how much tax its pay for rental property ?
Hi , is there a metric that you know of , that shows a ratio or something like that of the area between rental income and operating expenses?
Can you do a video on your owner financed properties. I have an opportunity to do it but don’t really know how. Thanks!
Yes, thank you for the idea! It will vary a little from state to state, but I just come to an agreement on price, down payment, interest, and term length with the buyer and then have the title company do all the paperwork. My state allows me to owner finance either by contract for deed or by mortgage, but some states only allow a mortgage. There are pros and cons to both so make sure to do a little research if your state allows both methods.
It's Mandy what’s the benefit vs just selling the property and 1031’ing it into something else? I understand that the terms are tough, like you could take the property back after only a single missed payment. Looking out
great vedio, keep making more
Interesting..
Mandy do u use an excel spreadsheet template to keep your monthly expenses or do you write them down manually?
I use excel. I have a spreadsheet for each house and then one big overall spreadsheet.
Mandy, your very sharing and extremely cute. You seems like a good person.
Several thoughts
1. You have some cash flow on these properties what is your expected appreciation after 10 years for all the work you are putting in?
2. Let your viewers know that you beyond just the $14K per year you are earning on this property that you building equity and getting get tax deductions.
3. Is there any thoughts to get cash out of these properties and purchase more real estate? The BRRR method?
Wait I’m confused, with 16 properties you make around only 30,000 annually? Or is there something I’m missing
I’m learning abt real estate and rental property management and trying to figure out which one is right for me
A fuse here is 75 cents
What is it with June and plumbing?? We have also had back to back plumbing issues. Hopefully July will be better! Thanks for the great video! :)
Luckily for me they were all minor, but I am definitely ready to stop calling the plumber! Hope yours were small jobs as well!
Try screening one time and you'll never pay someone again. It's so easy
Sheesh your mom was helpful 😜
Hi Mandy! I’m starting out with my first rental property and just looking a different perspectives and ideas on how to best manage it. I saw one of your video where you recommended to ask for a W9 for every contracted BEFORE they did work for you; was this only because of your status as a corporation? In my case I have a house I own that I’m renting out. Do I still have to ask for those W9’s or no because I’m not a Corporation?
Technically yes. The IRS says you have to file a 1099 for all work done over $600 on any house that isn't your personal residence. However, I bet very few people actually do it for just one rental property. If you have someone who does your taxes, I would ask them what they recommend.