If you’ve been thinking about investing in real estate but not quite sure where to start, start here. This video is for everyone who’s ever asked me: what’s the easiest way to get into real estate investing and build a million dollar portfolio. Enjoy! Add me on Insta/Snap: GPStephan
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 $120 million in sales: https://goo.gl/UFpi4c
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
The best way to get into real estate investing is through what I call “house hacking,” which is a practice in which you buy a multi-family building, move in one unit, then rent out the others. When done correctly, this could eliminate all of your housing costs, allowing you to live for free in the property - plus you’re investing your money in real estate and building equity, and depending on the area, sometimes you can even make a little profit each month at the same time.
Plus by buying the property as a primary residence, you can quality for much better loan terms and lower down payment than if you were just buying an investment property - which allows you a little more flexibility and leverage on your money.
Now if it sounds too good to be true, kinda… there’s a bit of a catch - you’ll need a down payment. You might be able to qualify for low down payment amounts, but I’m generally seeing most people needing to put around 15-20% down. You’ll also need a stable income, meaning you’ll likely need two years of tax returns. And you’ll also need a good credit score. Those three things will need to be in order for you to do this.
Video summed up:
1. Start where you live. Unlike investing out of area, when you invest near where you live, you already know which areas are good and bad. You can see firsthand which areas are improving the most. Which areas people want to live in. Where the most demand is. Where businesses and people are moving to. It’s this knowledge that gives you a huge advantage over everywhere else where you might not be as familiar.
2. Buy something that needs work. As a beginner, I recommend finding something that just needs to be cosmetically updated - these are often easy, surface-level repairs that can be done in a few weeks or months that have a pretty good ROI. It just means re-doing floors, re-painting, light landscaping, maybe updating a kitchen or bathroom…very easy things that most contractors will be capable of doing.
3. Understand cash flow and which properties make sense to buy. Most places will not work. Understand everything about cash flow, building up equity, tax write offs, and your net return after expenses.
4. Buy a multi-family property that needs minor cosmetic work.
5. Renovate it and by doing so, you’ll usually end up building extra
6. Rent out the other units and live in one of them yourself
7. After a few years, buy another multi-family building and rent the unit you were living in
8. Continue repeating this process every several years, building up a portfolio of investment real estate.
9. PROFIT.
Thanks so much for watching! Hope this helped, and make sure to smash that like button 😉
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
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 $120 million in sales: https://goo.gl/UFpi4c
Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/
The best way to get into real estate investing is through what I call “house hacking,” which is a practice in which you buy a multi-family building, move in one unit, then rent out the others. When done correctly, this could eliminate all of your housing costs, allowing you to live for free in the property - plus you’re investing your money in real estate and building equity, and depending on the area, sometimes you can even make a little profit each month at the same time.
Plus by buying the property as a primary residence, you can quality for much better loan terms and lower down payment than if you were just buying an investment property - which allows you a little more flexibility and leverage on your money.
Now if it sounds too good to be true, kinda… there’s a bit of a catch - you’ll need a down payment. You might be able to qualify for low down payment amounts, but I’m generally seeing most people needing to put around 15-20% down. You’ll also need a stable income, meaning you’ll likely need two years of tax returns. And you’ll also need a good credit score. Those three things will need to be in order for you to do this.
Video summed up:
1. Start where you live. Unlike investing out of area, when you invest near where you live, you already know which areas are good and bad. You can see firsthand which areas are improving the most. Which areas people want to live in. Where the most demand is. Where businesses and people are moving to. It’s this knowledge that gives you a huge advantage over everywhere else where you might not be as familiar.
2. Buy something that needs work. As a beginner, I recommend finding something that just needs to be cosmetically updated - these are often easy, surface-level repairs that can be done in a few weeks or months that have a pretty good ROI. It just means re-doing floors, re-painting, light landscaping, maybe updating a kitchen or bathroom…very easy things that most contractors will be capable of doing.
3. Understand cash flow and which properties make sense to buy. Most places will not work. Understand everything about cash flow, building up equity, tax write offs, and your net return after expenses.
4. Buy a multi-family property that needs minor cosmetic work.
5. Renovate it and by doing so, you’ll usually end up building extra
6. Rent out the other units and live in one of them yourself
7. After a few years, buy another multi-family building and rent the unit you were living in
8. Continue repeating this process every several years, building up a portfolio of investment real estate.
9. PROFIT.
Thanks so much for watching! Hope this helped, and make sure to smash that like button 😉
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
Create a video on renting vs buying a house
I know it's late, but as a contractor I can say adding living space to a home is rarely worth it
I’m confused how do you get money from equity? Do they give money from that each month of what
Question, if I plan on investing in properties and using that as my source of retirement income, is it wise to divert money that would have gone into a Roth IRA to a savings account for a down payment? 6K/year would get me to that 25% down payment a lot faster
I’ve watched this over and over to make sure I know exactly what to do!
Graham thank you 4 all the great information that you share. But why you got to keep moveing to buy more places why can you just stay in the first place you got?
Watched till the end again >:c I like this strategy a lot
There wont be a ny problem when i left the house in 3 years of living their wont the bank questioned me?
"Depreciate the cost of the property against the rental income which offsets the taxes owed on that rental income"- I wish you had given us a written example of this and taken a little time to explain this. Marco's white board?
Hey Graham. I know this is an old video & you probably won’t see this. I saw this 2 years ago when I was 19 now I’m 21. Own my first duplex (house hacking). I wanted your thoughts on this. My plan is to buy my 2nd multi family property in the coming months via conventional loan. Then refinance my current property w/FHA loan turning it into a conventional loan then going to get my 3rd property as a FHA loan with a really low down payment. Any feedback would be awesome. You’re the best bro!! You helped change my life!
A potential buyer is asking if he can see a copy of the deed so he can find out more about the property from the county assessors office. Should I send him a copy?
Don’t we have to wait a year until we can rent out a home? How would that work for a duplex or condo?
What’s up Graham, I’ve been watching your channels (yes plural haha) for almost a year now. My goal was to get to zero (no debt). I just got there today. Now my next step is saving for my down payment. By the end of 2021 I plan to have my first house hacked unit. Thanks for the information. Keep it coming
"What's the easiest way to invest in real estate? By buying it! Loool"
I was hoping to learn something I didn't already know, but it's really just save up money and buy real estate. That's really all the information in this video.
20%
I made it all the way to the end. You're the best.
House tour*
Really, you see EVERY comment !?! Even the recent comments from a two year old video? Hhmmm???
Hey Graham, what if the duplex properties near me are too expensive to invest in? I have about 50k saved up, but even a condo in my area can easily cost 400k.
How come you lose $100 a month for vacancies and not $800
How come you lose $100 a month for vacancies and not $800
Thanks for this! My fiance and I want to invest in real estate eventually and your videos have really encouraged us
Keep the great videos coming Graham.
Real estate is a big risk in 2020 you will pay top dollar and to get a return will take a long time.
Part of the 20%
Hey guys! I apologize if this one might seem sliiigghtlly repetitive for those who have watched some of my older videos on this topic. When I’m asked “what’s the easiest way to invest in real estate?” this is it. This one goes a little more in depth in terms of what I look for and strategies to implement. The concept is the same, it doesn’t really change – but sometimes repetitiveness helps it sink in, plus with a little more in-depth detail thrown in.