These are the top 5 things you should know before buying your first house, from the perspective of both a Real Estate Agent and Real Estate Investor. Enjoy! Add me on Instagram/Snapchat: GPStephan
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c
The first, and biggest mistake is not to worry about minor cosmetic issues. I’m talking about referring to walking into a home and not liking the paint color. Or not liking the carpet. Or thinking the backsplash is ugly. Too many buyers get caught up in the small, easily changed details that they overlook the bigger picture and pass up an otherwise perfect house for something that can be changed out within a day or two for minimal effort.
Anytime you’re checking out a property, look at 3 things:
-The location. This is something you’re stuck with and can’t change, regardless of how much money you sink into the property.
-The second is the floor plan. This CAN be fixed, but it’s just a matter of money. At a certain price, things just don’t make sense to fix - if you’re buying a property for $150,000 under market value, then maybe changing the floorpan can be justified. But if you’re buying at retail level and think the floorplan sucks, then maybe the house isn’t for you.
-The third, like I mentioned, are cosmetic issues. These can easily be changed for very inexpensively, all things considered. Don’t get caught up here.
The second thing to know is that when you see a property, it’s usually only during an hour in the day - sometimes a weekend afternoon, or a week day after work. But it’s important to understand wha the house is like throughout the day - sometimes what you could be a quiet weekend street is filled with back-to-back stop and go traffic during the week as everyone gets off work.
The third is to consider neighbor noise and much like the first example, go there late at night or on weekends and see what the neighbors are like. Trust me on this one…while neighbors come and go, and chances are they won’t be noisy forever, at least have an idea what you’ll be getting into.
Fourth thing to consider is commute times. Obviously this won’t matter if you’re buying an investment property, but for anyone else, figure out how long it’ll take you to get to and from work depending on traffic. Especially in Los Angeles, what could be a 15 minute drive at 2am might turn into an hour long commute at 6pm.
Fifth, is to always get the home inspected - this is a common sense - I’ve never seen a home NOT be inspected, but I can’t stress the importance of this enough. Get the home inspected, and do as many inspections as you think will be necessary. Even if not to try to get a credit, but just to know what you’re getting into.
Finally…as a 6th bonus tip for reading all the way through, because you’re the real MVP…don’t open up any lines of credit or buy anything expensive 6 months before getting your mortgage. The worst thing you can do right before getting a loan is to get yourself in debt or give the bank any reason not to give you the full amount promised. Always get the mortgage, first - then whatever you decide to do after that is on you.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c
The first, and biggest mistake is not to worry about minor cosmetic issues. I’m talking about referring to walking into a home and not liking the paint color. Or not liking the carpet. Or thinking the backsplash is ugly. Too many buyers get caught up in the small, easily changed details that they overlook the bigger picture and pass up an otherwise perfect house for something that can be changed out within a day or two for minimal effort.
Anytime you’re checking out a property, look at 3 things:
-The location. This is something you’re stuck with and can’t change, regardless of how much money you sink into the property.
-The second is the floor plan. This CAN be fixed, but it’s just a matter of money. At a certain price, things just don’t make sense to fix - if you’re buying a property for $150,000 under market value, then maybe changing the floorpan can be justified. But if you’re buying at retail level and think the floorplan sucks, then maybe the house isn’t for you.
-The third, like I mentioned, are cosmetic issues. These can easily be changed for very inexpensively, all things considered. Don’t get caught up here.
The second thing to know is that when you see a property, it’s usually only during an hour in the day - sometimes a weekend afternoon, or a week day after work. But it’s important to understand wha the house is like throughout the day - sometimes what you could be a quiet weekend street is filled with back-to-back stop and go traffic during the week as everyone gets off work.
The third is to consider neighbor noise and much like the first example, go there late at night or on weekends and see what the neighbors are like. Trust me on this one…while neighbors come and go, and chances are they won’t be noisy forever, at least have an idea what you’ll be getting into.
Fourth thing to consider is commute times. Obviously this won’t matter if you’re buying an investment property, but for anyone else, figure out how long it’ll take you to get to and from work depending on traffic. Especially in Los Angeles, what could be a 15 minute drive at 2am might turn into an hour long commute at 6pm.
Fifth, is to always get the home inspected - this is a common sense - I’ve never seen a home NOT be inspected, but I can’t stress the importance of this enough. Get the home inspected, and do as many inspections as you think will be necessary. Even if not to try to get a credit, but just to know what you’re getting into.
Finally…as a 6th bonus tip for reading all the way through, because you’re the real MVP…don’t open up any lines of credit or buy anything expensive 6 months before getting your mortgage. The worst thing you can do right before getting a loan is to get yourself in debt or give the bank any reason not to give you the full amount promised. Always get the mortgage, first - then whatever you decide to do after that is on you.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
65051
OR JEFFERSON CITY MO
Hi Everyone, I am a licensed Insurance agent and would be more than happy to help anyone who has any questions regarding any insurance needs. Great video as always Graham and keep up the great work! God Bless!
Would you recommend buying a property with a cash offer? Btw big fan and new sub. :)))
DO NOT REPEAT A SINGLE IDEA 10 TIMES E.G COSMOTICS
There was a black guy in the ad, and Graham is PASTEY white. haha
Wow Tnx
When you were talking about the cosmetic part, all I could think about was all of those people on “love it or list it” who experience the end of the world when a home doesn’t have his and her sinks
New subscriber! Thank you so much for all the information 🙏
you look like an android
Me not living next to team 10 is all I care for. Thanks.
I'm glad that regardless of being a real estate agent he still gives us an unbiased view and advice on what to look for prior to buying a property. Thanks for the tips
how does one go on about purchasing a house? I’m 19 rn and I’m working and my girlfriend is in school and later getting a job. but how would we be able to buy a house? we want to save a combined amount of 60,000$ for a down payment and have some left after while we work to not worry about anything that goes on with the house but how would we purchase one?
It's such an amazing video. In Texas, agents help with first time home buyer mortgages in the best way possible.
What about school rates?
I really learned a lot, thank you.
No matter where u live, don't live next to Logan Paul
Imagine teaching us this in school
I like the funny little video inserts
you can live under the bridge and stash all the money you would spend on down payment, installments, utilities, taxes and put it index fund and instead of paying interest, earn interest so one day you can afford to buy a house for cash
100k can get you acres of land in mexico and you can always build a brick house so the wolf wont be able to blow it down.
You are very good!! You are a genius!!
Hi, i had some questions and i messaged you on your instagram. Check it out when you have time:) thanks!
Man, I gotta say that I really like your calmer demeanor in this video. Your newest videos with 100's of dramatic cuts, voice modulations and camera zooms all while speed-talking, in my opinion, takes a lot away from the quality of the information presented. I genuinely absorb what it is you're discussing here and with the other new videos it kind of just feels like pandering to a much younger crowd so I find myself tuning out a lot.
I appreciate the time and effort you put into them regardless but damn, this was incredibly refreshing..
lol when you brought up the team 10 clip
What about finding banks with the best interest rates without having you credit score affected?