And meet kevin here, so this video is brought to you by fdx, but in this video we're actually going to talk about real estate, so check out ftx via the link down below because jack who's holding the camera told me to say that i'm always saying pissed. So let's talk about real estate, okay, so i've been talking to ben mala, we did a podcast on his channel and a lot of people called in and they're like. How do i get started? How do i get started? The theme and ben mall - and i were talking about this and his rolls-royce earlier - we'll be posting, obviously clips from all this stuff. Now i'm choking on gum, but we were talking about all this stuff and one of the things that that we remarked about was that it's remarkable that we continue to get the same question over and over again.

How do i get high cash flow with no income and no credit, so i can retire and it's almost like people want the magic bullet of like well. All you have to do is go buy this fourplex in chillicothe, ohio and retire, because it's that easy, it ain't it ain't. Okay, you little it ain't that easy, but it is relatively easy, and so in this video i thought i would just do a quick little uh. You know sort of preview of some of the things that obviously in massive detail, we talked about in the real estate.

Investing course, the do-it-yourself property management, rental event renovations course link down below with that coupon code expiring in a few days. But let's talk about a few things. Okay, look the first thing, that's so important that people don't want to get through their damn heads is. You need money to make money so get a job like somebody asked me one day and they looked at me like they saw the devil they looked at me like.

I was a scumbag for saying him. They're, like dude, i've have a mechanical engineering degree. You know what should i do, what should i do and they're like kevin? What would you do if you started over and like you didn't, have youtube or whatever, and you just wanted like a chill way to make lots of money? I'm like well i'd get a job and they looked at me like they saw the devil. I'm like i'd, get a 9 to 5 job because i'd work 40 hours a week which is about half as much as i work as an entrepreneur, and i would have a w-2 that w-2 as much as i might hate my damn.

Job is a ticket to building wealth, because here's what you're going to do you're going to buy a place to live in it, stop trying to think about. I got ta, have cash flow by investing in a different area, and i go with this. State is better or that state's better you're gon na end up buying some crap we're not gon na get the rent you're not gon na be able to collect it because you're gon na have to deal with evictions. You're gon na deal with people gon na trash.

Your properties, listen. I guarantee you 90 of the videos that you see of people that are like 10 inches trashed. My property 90 of them had a credit score of under 650. Okay, they have no comprehension of finances or contracts and if you have a credit score of under 650 well, apparently you don't have a comprehension of finances or credit either.

Now, maybe you fell upon hard times and he had some medical bills or whatever, and for that in such a case, i'd be sorry for you, but that doesn't mean you can't pick yourself up by the bootstraps and get back to it. So you get a job. You get some qualifying income if you're self-employed they're going to take your last two years and if your uh second year is declining, they will take that year. If your second year has an increasing income, they will average it they'll always screw you that's the way it works.

If you have a w-2, you could go to college for four years. As let's say, an engineering major, the second you get out of college, you can call a lender and go yo. I wan na get uh, i got ta, i got an engineering job, i got an engineering degree. I've only been working my job for one day.

I wan na buy real estate they'll be like sounds like you got two years of work experience to me fact because they will qualify your efforts in. I have no idea where to go jack. Where do i go i'll? Go this way yolo. So they'll qualify.

Your two years in school uh towards your work experience, which is phenomenal, so you go to college for a degree that matters not like art or some garbage. No something like that's gon na make you money, computer science, engineering, something that's been making money. Then you can qualify for a place because your goal is to get like a nice. You know 80, 160, 000 plus salary.

And what can you do then? Well, now you qualify for a property to live in, you put three and a half percent down and you don't be a little who's like, but then i'm gon na have to pay mortgage insurance. I don't give a crap about your damn mortgage insurance, honestly yolo. Okay, listen more mortgage insurance does not matter. People need to chill out about mortgage insurance, there's! No! I can't get over that fat.

I can't get over that far whatever i'll make a ue over here, so people care about mortgage insurance and it's so dumb because people like oh my gosh well, if i put three and a half percent down, i'm gon na have to put mortgage insurance. Who cares? It increases your rate by roughly half of a percent? That's it like interest rates, just went up three percent and you still have people worried about mortgage insurance. It does not matter it amortizes to nothing. Just like people are like, oh, but i really only want to pay 305, but the seller wants 308.

Who cares get a deal? Start people like? Oh, but i need an llc. No you don't, then. What you need is a job, a good insurance policy, landlord insurance policy if you're renting it out after you live there for a little bit and you need to get your feet wet and get into real estate. You do that.

The easiest by buying a property in the neighborhoods you live in here's the rule, if you can't do a craigslist transaction there at nine o'clock, because your balls are getting tight and you're scared, then don't buy there. It's that simple! Okay, if you're, like oh yeah i'll, go there nine o'clock at night cause it's a cool place, then buy there. You don't have to speculate. You don't have to go like.

Oh i'm gon na go by in the middle of nowhere because, like in the future, maybe they'll be worth north. That's speculating that's like buying a call option. That's like i could lose all my money here, that's dangerous! No! No! No! You buy in a good neighborhood a neighborhood. You want to live in where you know the schools are good.

Where you know the amenities are good. Ideally, you get a place. That's a little dated. Okay, you get a place with like the place, you're kind of your girlfriend or your spouse is like um with the carpets in the kitchen.

It's like yeah, the bathrooms. Aren't that nice. Well, you fix them up and you're, not gon na hire contractors to do this stuff. You're gon na pick up the phone and do a little bit of work.

If you need to change all the outlets in the house, because your home inspector's, like you, need a whole new electrical system, you need to replace the whole panel and rewire the whole house. You call up an electrician and go look dude, i'm new at real estate. I don't have a lot of money. Can we replace all the outlets three-pronged outlets with gfci protection in them, so they're, safe uh? You know shock prevention and we got some safe.

You know a safe product here and it looks good. I got a budget 1500 bucks. Can you help me out, i guarantee you'll, find somebody who's like yeah. Let's do it like i'll? Do it so now, all of a sudden you're solving these 10 000 problems on home inspections that everybody's freaking out about for a fraction of what people think it actually costs to solve this stuff people like, oh, i got to replace the roof really.

There is. I guarantee you no leak in a roof that i cannot patch myself with a bucket of mastic dude. Go i'm gon na pass this guy, because he's gon na make me miss the light and he's causing problems here. God, no patience for this kind of garbage.

So anyway, where were we oh yeah? Okay, so you got ta. Ideally, though, because you're gon na you're, not gon na know all this stuff, you're, not gon na know, i didn't know, i could just call an electrician. Do that so you know you hire you hire somebody who's gon na work, their ass off for you to help you make money for free. Who would do that? Who would help you make money for free, a real estate agent? You get a good real estate agent because you go on yelp and you look for a real estate agent and you find an agent who actually invests in real estate if they don't invest in real estate.

You're fired it's that simple, so you sit down with them for coffee you're like hey, so you're an agent, hey, i'm looking to buy. What do you recommend i buy? Oh. I recommend you right here here great! Oh, that's! Awesome! Hey! Where, like do you buy real estate, where do you buy if they're like? Oh that's, personal you're fired they're like oh, i don't buy real estate you're fired. If they're like oh yeah, i flip real estate regularly.

I manage my own properties like you're hired. It's that simple, okay, it doesn't have to be a hard conversation, because now they're also going to know the people who are going to help you change those electrical outlets, so we're going to help you paint stuff, although you should pick up your bootstraps and paint the Stuff yourself: it's not that hard. You could honestly get a youtube degree in construction and renovation and get most things done in a home. Carpet's cheap enough.

You don't have to do that. Do the paint you know the paint's easy do that yourself. You know, i don't know flooring baseboards, i don't know if it's worth it, but you could try it yourself, but do some stuff yourself and make some money because here's the goal the goal is even in today's crazy market, you find a place for like 300 grand Or 400 grand, let's go with 400 grand, because you know inflation, blame biden, blame putin, blame trump. I don't care who you blame, it doesn't matter.

You buy a place 400 grand you try to get in a 500 grand neighborhood and you try to spend less than 40 grand on it. I don't care about the cash flow right now i want to get you started with wealth and some insulation, and so now you make sure you don't spend 100 grand, because if you have to sell it you're upside down, because you have selling costs, that's a problem. No, no, no, your goal is to a figure out where you're, driving and b after you figure out where you're gon na buy, spend a lot of money. The worst mistake i made on my home my first home is: i spend money on stuff like artificial turf or fancy tile in the bathroom or oh.

I could have an induction cooktop. None of that matters. None of it matters cheap! That's what matters you do it new. You do good work, so it's quality, but am i getting premium paint? Who am i bill gates? No, i get the cheap paint.

It's all the same. It all looks good you're, gon na touch it up in the future anyway. So you get in, ideally where you have what's known as a wedge, some difference between what you paid plus what you spent to fix it up and what it's actually worth and you sit there and you wait two years and then you refinance the property. Hopefully, when rates are lower and prices are stable, if you can't refinance it make sure you can afford the payment get a 30-year fix.

Don't do this variable stuff when you're starting out you have too much stress you don't want stress in real estate. Don't 30 are fixed and done worry about the interest only in the arms and all that stuff, when you're, older or not necessarily older, but when you have more properties shut up anyway, that car was so loud. You probably can't hear it because this my this red tip, is so sexy anyway, um, okay, good, so now you're in now, once you're in and you've actually gotten into real estate, and you won't live in it for a year. I promise you.

Ninety percent of your fears about the real estate process will be over it'll, be so easy for you to buy another property turn your first property into a rental property boom. Now you got two you do it again, the next year or two years later boom. You got three imagine this you're 25 and you buy one property every year for the next 10 years. That means you're 35, with 10 properties assume the price of those is 500 grand.

You have 5 million worth of real estate, probably have a net worth of 2 million dollars that easily it's that easy and damn it if you're still confused, you still don't get it. I literally have a course that's going to pay for itself for all of this i'll tell you what to buy what not to buy what to spend money on what not to spend money on you want to get a discount at lowe's. We got a special course. Member only discount at lowe's every time you go there, they will give you better pricing, because your course member check out the courses linked in the description down below and, of course, because jack would get mad at me.

If i didn't say it again make sure to get a discount on crypto every time you trade over ten dollars of crypto with ftx by using my code link down below mattkevin.com and if you download the app, which you should also do make sure to use coupon Code meatkev, thank you so much f off and good luck.