This is exactly how I ended up making $65,000 per month in real estate last year, and some of these concepts and strategies you could begin implementing in your business going forward. I’ll break it down, share the numbers, and share what’s worked best with me. Enjoy! Snapchat/Instagram: GPStephan
Join the private Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
I have three main sources of income when it comes to this number:
1. Working as a real estate agent
2. Rental property income
3. Equity gained by buying a renovating a property
So lets talk about the largest income source, and that’s working as a Real Estate Agent. In 2017, I had 19 total transactions…11 sales and 8 leases. In total, that worked out to $21,838,100 in total sales volume. Now my business isn’t so much structured around selling as many houses as possible, but it’s about focusing on fewer, higher priced listings throughout my current and existing clientele.
Most of this sales volume was made up between repeat and referral business, and this is how I’ve structured my business. This is how I was able to achieve a $22m sales volume without much prospecting, without driving myself crazy working nutty hours, and how I’ve still managed to increase my sales volume every single year, while still making 2-3x youtube videos per week, buying properties, and having free time. That’s why I also put such a huge importance on customer service, because making a good impression early on = huge payouts later on, and everyone benefits from this.
The next income source is my rental income. Right now I have 7 tenants, and this worked out to about $4650 per month…it was about 30% lower for most of last year since I was in the process of buying a duplex, so the net income was a little less than it is now, but you get the idea. Again, to get this rental income, this is about 6 years in the works in terms of of savings and investing since buying my first place. So didn’t come quick, but it’s something that was able to scale nicely over time. This is also where I try to keep my expenses at every year, and that allows me to save everything else I make…so even though I make way more, there’s no sense spending it if you don’t absolutely have to.
Finally, my last source is equity. The last two main properties I bought and renovated both went up in value by about $150,000 last year, which means I’ve gained an extra $300,000 home equity. Yes I count this as income because I purposefully bought these properties to fix up in areas that I felt were going to increase in value, and they did, and I could sell them for profit if I wanted to, but I’d rather keep them and do a cash out refinance. This saves on taxes AND I get to keep the property. This has always been my philosophy when it comes to investing in real estate - it’s to buy something that needs work in an area next to other ares that have rapidly increased in value, fix it up, and reap the increased equity as it goes up in value. From there, you can cash-out refinance and continue.
So between the approximately $480,000 of income from my first two sources, plus $300,000 in appreciation, my real estate total for 2017 came to $780,000, or $65,000 per month. Again, not counting some other things in this just to keep this simple, but you get the idea.
So here are my main takeaways from this:
First, in any business, do it for the long run. Customer service is so important, and without it, there’d be no way I’d have any repeat clients, ever. Nothing great is built overnight. Set long term goals and stay consistent with it.
The next…save. Doesn’t matter if you make $50,000 per year or $500,000 per year. Save as much as you can. And once you save, invest it.
Finally, diversify your income if you can. Plus it’s easier to make more money when you have a few different sources of income coming in, especially if those other sources are passive and it’s something you can leverage.
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 Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
I have three main sources of income when it comes to this number:
1. Working as a real estate agent
2. Rental property income
3. Equity gained by buying a renovating a property
So lets talk about the largest income source, and that’s working as a Real Estate Agent. In 2017, I had 19 total transactions…11 sales and 8 leases. In total, that worked out to $21,838,100 in total sales volume. Now my business isn’t so much structured around selling as many houses as possible, but it’s about focusing on fewer, higher priced listings throughout my current and existing clientele.
Most of this sales volume was made up between repeat and referral business, and this is how I’ve structured my business. This is how I was able to achieve a $22m sales volume without much prospecting, without driving myself crazy working nutty hours, and how I’ve still managed to increase my sales volume every single year, while still making 2-3x youtube videos per week, buying properties, and having free time. That’s why I also put such a huge importance on customer service, because making a good impression early on = huge payouts later on, and everyone benefits from this.
The next income source is my rental income. Right now I have 7 tenants, and this worked out to about $4650 per month…it was about 30% lower for most of last year since I was in the process of buying a duplex, so the net income was a little less than it is now, but you get the idea. Again, to get this rental income, this is about 6 years in the works in terms of of savings and investing since buying my first place. So didn’t come quick, but it’s something that was able to scale nicely over time. This is also where I try to keep my expenses at every year, and that allows me to save everything else I make…so even though I make way more, there’s no sense spending it if you don’t absolutely have to.
Finally, my last source is equity. The last two main properties I bought and renovated both went up in value by about $150,000 last year, which means I’ve gained an extra $300,000 home equity. Yes I count this as income because I purposefully bought these properties to fix up in areas that I felt were going to increase in value, and they did, and I could sell them for profit if I wanted to, but I’d rather keep them and do a cash out refinance. This saves on taxes AND I get to keep the property. This has always been my philosophy when it comes to investing in real estate - it’s to buy something that needs work in an area next to other ares that have rapidly increased in value, fix it up, and reap the increased equity as it goes up in value. From there, you can cash-out refinance and continue.
So between the approximately $480,000 of income from my first two sources, plus $300,000 in appreciation, my real estate total for 2017 came to $780,000, or $65,000 per month. Again, not counting some other things in this just to keep this simple, but you get the idea.
So here are my main takeaways from this:
First, in any business, do it for the long run. Customer service is so important, and without it, there’d be no way I’d have any repeat clients, ever. Nothing great is built overnight. Set long term goals and stay consistent with it.
The next…save. Doesn’t matter if you make $50,000 per year or $500,000 per year. Save as much as you can. And once you save, invest it.
Finally, diversify your income if you can. Plus it’s easier to make more money when you have a few different sources of income coming in, especially if those other sources are passive and it’s something you can leverage.
For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness @gmail.com
Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq
Favorite Credit Cards:
Chase Sapphire Reserve - https://goo.gl/sT68EC
American Express Platinum - https://goo.gl/C9n4e3
Thoughts on providing a referral rewards to incentivize people to share your information with their friends and family? Like a 500-1000$ referral payout for successful sales on the lead. Let people do the work for you.
Hello Graham, I have a question. I live in Canada and I was checking rental properties here and my question is. How do you guys make residual income on a rental house on which you pay 3800$ and the rental income is 3750$ (Keep in mind that 3750 is the gross income everymonth). I am just learning about real estate 😊
"Investing" in real estate is great until it is time to sell. Never invest in an illiquid asset like real estate. Oh, and it is no treat at tax time either.
Graham the tax rates in India will make you mad 🤣
Yo
Your honesty is so refreshing 🙂
Watch in 1.25x speed, your welcome.
just tossing in a comment for the algorithm.. keep scrolling
Your video was amazing, I’m going to go watch all your real estate videos💪🏼
"There's no sense spending money on something if I don't absolutely have to" has a fucking dinosaur skull in the frame
Dude you’re the freakin best! Always helpful content and always speaking facts!
What type of real estate do you work in
Taking a decision to place your trading investment under an expert for risk management and guidance, if you ask me is a bold step taken. The higher your capital the higher your profit returns, contact coach ventre on how to invest through forex trading
Thanks so much I been doing trading for 4days now by following my instructor Feliciafx_trades on in.sta gram after investing $700 in 48hours I was able to withdraw $4500 to my bitcoin wallet. ..
Yo if u look closely it looks like he is really good cgi
I know this is two years old but I literally just found this channel so…. Any advice for young ones to make passive income when they're just starting out in the workplace and are in a different industry 👀?
Thank you, sir, for the interesting video.
Wow
Hi Graham, do you still use Mint? Would you recommend it?
Hi Graham, I have a friend deeply sucked into Amway MLM. He's been losing 10K every year and countless of hours trying to sell this business plan. Can you create a video of why MLM are scams? Any thoughts or advice how I can get my friend out? He's in heavy debt of student loan as well..
I'm student and i don't even have computer and i cant buy it 🤣🤣🤣
Its soo funnyy that i i'm looking for how to make 1m/yr or month right🤣🤣🤣
But i have planes to make money but my problem is i don't 1$ to start right now
I'am sure i will it
I will comeback this comment after year and see where i'm
Now i'm taking screanshot🤣🤣
hey hey! Nice video you have there! Since you are on this topic; have you heard about " Vidadsmedia Real income "? (Have a quick look on google…cant remember the exact words)? My sister had some transactions with them and was impressed by their super treatment when they shared their knowledge about generating residual income !
So in 17 real estate agent was number one for you. I'd love to hear how that has changed now
Hey Graham can you please contact me.
in 20, recently married, making about 60K a year between me and my wife, she's going to school for nursing, im in the navy training as a nuclear power plant operator. (which will qualify me to work at civilian plants when i get out in 5 years, a roughly 100,000$ job) plus my wife will be pushing close to that as a nurse practitioner once she gets that education. i want to start working towards passive income though, i dont want to do shift work at a plant for the rest of my life. my plan right now is to become a landlord swapping your job as a real estate agent for our income.
Graham, well done you for working hard and sharing the knowledge transparently. Loving how half of your points are reacting to the trolls (or people who are making excuses and justifying why they have not achieved the level of success you have in the same circumstances). It's all fun and games from the peanut gallery! Please keep posting these kinds of videos as they are most insightful. Thank you!!
you think I will be able to do this.
You’re a good man
Stephan, have you tried dropshipping?
dear graham, I am about to move to new york city and I want to ask you that is there any good real estate company that you cam recommend??
I’d like to learn more about being a real estate agent in the future. I’m so done with this fake estate agent gig. 😂 Okay, I’m done.
Hmmm… I mean, it could be possible to make that much money. However, the real estate market with high value assets in the millions is not a market that anyone can get into. I think there’s some sort of connection (family or friends) that’s in the real estate business. Plus, being good looking helps a lot. It’s not something most people can rely on.
Learning lots from you .. wish can meet u one day in real life 👌🏻