How did you pay yourself back if you still owe the 500k? Please explain I’m searching this videos because I’m considering buying a building. I have multiple houses im just not a business man. I’m learning
If I had to guess I would say the majority of your net worth came from this one deal and that you basically just got lucky because you sold it after the prices shot up in the pandemic. Would love to be wrong though.
Want you want to do first is create an llc then say to government your making wheelchairs for snails this will get you an interest free loan . Every finance guy on YouTube speaks like a rotten tomato do not listen to them 😅
I’m 55 and hoping to end the rat race at 60 with $1m. I know money is liability to be exchanged for real assets like real estate (rental income) stocks (dividends) gold (wealth) But, what is it with bitcoin? I'd love to diversify my $200k portfolio for rapid growth.
Is this still feasible in 2024? With the inflated market & higher interest rates renting out all 4 units might not cover the mortgage & insurance. Am I wrong?
From $24k to a $2.4M commercial building in just 3 years. Sounds impossible? Let me break it down for you.
It all started in 2018 with a $380k 4-plex. Using an FHA loan, I only needed $24k down.
We house hacked for a year, living for free while the other units covered our mortgage.
After moving out, I set my sights higher – a 24-unit property listed at $1.5M. The catch? A $500k down payment.
Here's where creative thinking pays off. I sold my 4-plex, which had built $250k in equity, using a 1031 exchange to avoid capital gains tax.
My parent did the same with their 4-plex, bringing the other $250k.
Together, we bought the building, each making $2,500/month in cash flow.
But it gets better. After a year, the property appraised for $2.4M. We did a cash-out refinance, pulling out $500k to pay ourselves back.
Result? I now own half of a $2.4M building, make $2,500/month, and have $0 of my own money in the deal.
This is the power of creative real estate investing.
It's not about how much money you start with, but how smart you play the game
It's not free. You're paying the cost to yourself.
Thats the eason the market will crash..😅😊😊😊
How did you pay yourself back if you still owe the 500k? Please explain I’m searching this videos because I’m considering buying a building. I have multiple houses im just not a business man. I’m learning
You have to remember successful people usually don’t make YouTube how to videos
I just managed to save 30k this past December. I wanted to invest it in real estate but idk how. I had to invest most of it in crypto.
Where and how did you learn all of this? I have 1 STR property that is a mess and I wanna know everything like this well rounded.
Appreciate the breakdown. Thanks for sharing!
But isn’t the cash out refinance a loan?
Video is very misleading.
i dont get it you bought that 4plx for 350k but sold it for 250k. Now you owe the back 100k?
Buy a property that doubles in value in a few years, got it.
You should tell your generation about this since they all think home ownership is out reach…
Too old too leveraged too many convictions
Talking too fast buddy, you got to change that fotmat if you want more audience
1031
U were already set with the 4plex werent you. Why would you need the building
If I had to guess I would say the majority of your net worth came from this one deal and that you basically just got lucky because you sold it after the prices shot up in the pandemic. Would love to be wrong though.
🧠Thank You for this information!
Will share soon!
New subbie
Step 1: $24k
Step 2: $250k from your parents
Man i wish i bought a house when i was a sperm 😔
🔥 info
Want you want to do first is create an llc then say to government your making wheelchairs for snails this will get you an interest free loan . Every finance guy on YouTube speaks like a rotten tomato do not listen to them 😅
bullshit
thanks for the info!
If I may ask and for anyone who has knowledge can really.
Do you need to have a qualification for real estate to invest in it!?
I’m 55 and hoping to end the rat race at 60 with $1m. I know money is liability to be exchanged for real assets like real estate (rental income) stocks (dividends) gold (wealth) But, what is it with bitcoin? I'd love to diversify my $200k portfolio for rapid growth.
Great work!
THIS IS A JOKE
lol
BuLLSHIT
I believe I Can Fly
You didn’t borrow with 24k. You used your credit, assets, incomes and with 24k down payment to secure the loan. Please
Can I partner up with you?
Commercial property is in the tank right now and perfect opportunity to buy them
How can we get your trainings ?
I got 10k cash and am in Northern California, how can I flip it into $1,000,000.00??
You got into real estate in 2018. So obviously you’re under the assumption that real estate is an absolute gold mine but it’s all coming down.
You forgot to mention the additional monthly payment on the additional $500,000 debt. Otherwise, good stuff.
Is this still feasible in 2024? With the inflated market & higher interest rates renting out all 4 units might not cover the mortgage & insurance. Am I wrong?
He gives this info way to fast
If you rich already tf you doing on YouTube bro I’d be enjoying life not fucking making videos on YouTube
He makes it sound so easy .. Yea right dude…
I started this when I was 20. I'm 33 now and retired. High risk high reward.
Bro, you used more than just 24 k. You used ALL the equity from your 1st property