This is exactly how I made $150,000 in 4 months…just by buying this duplex. This is how I pick an area, how I find a property, what renovations I decide to do, and everything in between. I hope you enjoy! Feel free to add me on Snapchat/Instagram: GPStephan
Quick numbers:
Bought at $585,000
Spent $65,000 on renovations
Total cost: $650,000
Total market value: $800,000
Total profit of equity: $150,000
I primarily focus on finding areas which I see as “up-and-coming.” They’re typically located next to other areas which have recently seen a large price increase. From my perspective, people get out priced in an adjacent neighborhood and slowly migrate further out. So I like these areas that are just on the outskirts of another location which saw a huge growth of demand, thereby driving up prices. As businesses and people continue to move outwards, prices tend to increase.
I also check daily for new properties that come on the market. I like to focus on homes that need as much remodeling as possible - preferably cosmetic remodeling, such as floors, paint, kitchen, bathroom, and landscape. These are simple and non time-consuming which give you a quicker turn-around time to finish the project.
It’s important to move quickly when you find a good deal. Other people are out there trying to find the same thing, so when you find something, act on it. Get it locked in contract asap. Otherwise you might be left in a multiple counter offer, competing at top dollar to buy the property.
When bought and done correctly, you will be left with extra equity which you can then refinance, pull out your money, and then repeat the process.
Thank you so much for watching!
For business or one-on-one consulting inquiries, 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
My most used Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Quick numbers:
Bought at $585,000
Spent $65,000 on renovations
Total cost: $650,000
Total market value: $800,000
Total profit of equity: $150,000
I primarily focus on finding areas which I see as “up-and-coming.” They’re typically located next to other areas which have recently seen a large price increase. From my perspective, people get out priced in an adjacent neighborhood and slowly migrate further out. So I like these areas that are just on the outskirts of another location which saw a huge growth of demand, thereby driving up prices. As businesses and people continue to move outwards, prices tend to increase.
I also check daily for new properties that come on the market. I like to focus on homes that need as much remodeling as possible - preferably cosmetic remodeling, such as floors, paint, kitchen, bathroom, and landscape. These are simple and non time-consuming which give you a quicker turn-around time to finish the project.
It’s important to move quickly when you find a good deal. Other people are out there trying to find the same thing, so when you find something, act on it. Get it locked in contract asap. Otherwise you might be left in a multiple counter offer, competing at top dollar to buy the property.
When bought and done correctly, you will be left with extra equity which you can then refinance, pull out your money, and then repeat the process.
Thank you so much for watching!
For business or one-on-one consulting inquiries, 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
My most used Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Did not talk about the remodeling steps
I watched it through to the end! 😁 great video 👍👌
I miss this gram
I am interested in this ! Can you be my mentor to help me learn about this ?
what's the difference between a real estate agent and a real estate investor ??
Equity loan is not earned cash , you immediately have to begin making payments on it , so it’s not profit unless you flip the home , this guy is getting excited about borrowing
More and more money that needs to be paid back 🤔
how is this job called???
Success is not final; failure is not fatal: it is the courage to continue that counts. Business opportunities are like buses, there’s always another one coming.
I made it to the end of the video. Will I get a comment???
Question: do you need a real state license to remodel and sell?
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Thanks Graham, you doing amazing,,, keep going.
I’m trying to get into real stating and a lot of people say it’s difficult, is basically all you’re doing is buying a house that has no value then fixing it and finding a buyer?
Is there no quick trick 2 rise in the real estate industry? Is just basically put the work in? 💪🏾
Very thorough explanation. Loved it
Also watched your video on your journey in real estate from high school years. Super impressive
What would it take to have you as a mentor or someone I can go to for advice on specific real estate questions?
I watched the whole thing. Was awesome. Are you still in the LA area? I know you just moved to Vegas….
Bro thanks for video. Even being a 3 year old video. still applies today! Totally subscribing and watching your content. Hopefully I can get moving on something.
Been watching your content for a solid 6 months. The algorithm suggested I watch this one from 3 years ago. Glad I checked it out, it still gave value eventhough it's the older content.
this video is alot of fluff, its hype material
Is it me or is his voice deeper compared to his new videos?
Spot me $20,000 watch me invest it 😎
How can I get money to renovate if I don't have any money (let's say $1k max) but just bought my duplex and am living on one side and renting out the other?
I assume I'll want to get a loan, but I don't know what type of loan and who I'd get it from. Thank you for any advice!
what do you need to study to become a real estate agent for commissions?
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Hi everyone
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Hello. I live in India. I’ve studied in America and currently in London. I want to buy underpriced houses, refurbish them and sell/rent them in BOMBAY/MUMBAI…. India….. what do you think? Is there a market for something like this over here? Houses are so expensive. Even the one bedroom ones….. I’d find a good deal and can convert it into a signature style that I want (I have many thoughts and ideas)…. don’t know if people in India are the same as people in America….. please tell me
Hie Graham ,can you make video about location …which location you should invest in & which one you should not
I am trying to get into real estate and purchase my first home! Your videos have been so helpful! Its definitely an overwhelming process but your guidance has been so helpful!
Its in his networth thats all that matters!
hi there im presently living at Nova Scotia Canada and ive been thinking of buying a house as a startup bisiness (but on mortgage) then do some work on it and resell it afterwards your video kinda gives me the idea on how to start. ill be watching the rest of your videos. any tips? thanks.