How a New Investor Bought SIX PROPERTIES While Working a Full-Time Job

Рет қаралды 10,684

Күн бұрын

My new coaching & learning community, Rental Property Mastery is now LIVE.
Join us here: 👉👉www.coachcarson.com/RPM-YT
Episode 210 - Learn how Ray Zhao, a busy professional in Los Angeles, California started investing in real estate across the county in North Carolina and bought 6 properties in 1 year using what he learned in Coach Carson's course Real Estate Deal School.
TIMESTAMPS:
0:00 - Intro
2:23 - Behind the scenes
6:07 - I want to stop the cycle of working
11:07 - I live in LA but invest in North Carolina
14:58 - Areas around Charlotte to invest in
19:36 - What makes a good deal a good deal?
22:26 - Financing from multiple sources
26:07 - Key team members while in LA
28:57 - Vetting process to find team
31:43 - How to fit real estate in your life
34:09 - Got rejected on 12 offers before closing
36:27 - Offered $15K above asking
37:28 - Specs & numbers on 1st deal
42:53 - Won against 20+ offers for 2nd deal
46:11 - Running numbers on 2nd deal
51:03 - Due diligence and walking away
53:12 - Real Estate is a vehicle
54:38 - Most helpful thing about the course
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💲REAL ESTATE DEAL SCHOOL🏘️
My signature online course + community guides and supports you towards your next real estate investing deal. Only open twice per year. Learn more at www.coachcarson.com/REDS-YT
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🧰MY FAVORITE REAL ESTATE & MONEY TOOLS:
- American IRA - invest your retirement accounts into alternative investments like real estate, private loans, partnerships, crypto, and more - www.coachcarson.com/americanI...
- Avail.co - If you're a small landlord self-managing between 1 to 20 rental units, this is a fantastic (FREE) online rental management software to help you collect rent, market vacant units, screen tenants, and more - www.coachcarson.com/avail-YT
- Deal Machine - software to help you buy more real estate deals - www.coachcarson.com/dealmachi...
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Пікірлер: 50

@davidr4523 2 жыл бұрын

Coach Carson podcast is maybe the best real estate program on KZfaq. BiggerPockets use to be at this same level of specific technical knowledge but they digressed into a motivational mindset show. Also because the host and their guest have gotten so big with syndications and other deals that the small investor can not even relate to them anymore. Please let me know if there are other good real estate podcast on KZfaq.

@CoachChadCarson 2 жыл бұрын

Thank you for the feedback. BiggerPockets is a big platform so they have to cater to a lot of different needs and types of investors but I think they still do a good job. I've chosen to focus on the Small & Mighty Investor because that's where my heart is! Go small or go home! Rental Income Podcast is good. One Rental at a Time KZfaq channel is also good.

@karenrochelle2056 2 жыл бұрын

Very inspiring! Thank you for sharing and being so transparent with your journey.

@gfoster173 2 жыл бұрын

I love this. Just starting my real estate journey but this is amazing to hear.

@tonypeters3320 2 жыл бұрын

Very interesting listening being that I live in South Charlotte. I am actually looking for properties outside of Charlotte because the market hasn't gotten saturated here. Good Chad on coaching Ray. Congratulations Ray on giving real estate investing a chance. I am going to sign up for Coach Carson's real estate course starting soon!

@Ramal26 11 ай бұрын

Just found your page and I LOVE the content Chad!! Thanks for all you do, you help change lives for the better and that's huge!

@Alesini100 Жыл бұрын

Great video and information! Thanks coach for sharing, and best of luck to Ray on his journey to financial independence.

@CoachChadCarson Жыл бұрын

Thanks for watching!

@dawsonhall5170 2 жыл бұрын

Chad- I love your content. I've already learned so much about analyzing rental properties, tools, formulas that I need to be equipped with in this journey from your channel. That being said, I'm a 21 year old student taking a semester off of University for an internship (which has given me a ton of free time to learn when I'm off the clock) and I'm looking to enter the market in the next 12-18 months. Would you suggest taking your course as I get closer to my goal date?

@mltlawyer 2 жыл бұрын

Great video. Thank you.

@andysung77 2 жыл бұрын

Thank you for sharing your journey Chad and Ray! Like another viewer mentioned about the cashflow of 500 per month, I was a bit puzzled until I saw Ray's response. After factoring in repair, capex and vacancy allowance will probably still be positive, but not 10% CoC :) All the best.

@CoachChadCarson 2 жыл бұрын

yep. Good catch by all of you. Ray's deal were more long-term growth vehicles as single family houses. They'll make cash flow over time but not cash cows early on.

@Jay-pv7tl Жыл бұрын

5 months later, but appreciate this video and all others. I'm just starting out but really benefit from your videos Coach Carson!

@CoachChadCarson Жыл бұрын

Thanks Jay! I am trying to but evergreen info out there you can use months or years later.

@sunshinewolf5980 Жыл бұрын

@@CoachChadCarson hey coach, is your course applicable to Canada? How much is to get in? Thanks!

@marcuslittle9506 Жыл бұрын

Fellow Angeleno here who invests out of state. Love your story!

@joelc.9682 5 ай бұрын

Where do you invest? I am in the same position

@amjds1341 2 жыл бұрын

What is the best platform to not to rely on a real estate agent and find a the comms and other info on your own?

@alexbulan6916 Жыл бұрын

Great content. I was wondering how Ray financed the subsequent deals thereafter. Thank you.

@CoachChadCarson Жыл бұрын

He has a good income from a traditional job as a doctor. So I think he could finance up to 10.

@alexbulan6916 Жыл бұрын

@@CoachChadCarson thanks Coach!

@vivianhiggins5685 2 жыл бұрын

We have the similar situation. We bought 7 rental properties in the last a couple years like he he did it .

@CoachChadCarson 2 жыл бұрын

Congrats! That's great. Where are your properties?

@albongo3949 Жыл бұрын

Awesome video

@CoachChadCarson Жыл бұрын

Thanks for the visit

@SiempreFlor 27 күн бұрын

Great PRAISE THE LORD , I really like what he said about his church and dedicated more time to learning the Bible good advice I’m thinking buying more houses to do the same 🙏🏻 thank you coach Carson we’re retiring soon so we’re buying houses for diversification for our funds

@CoachChadCarson 23 күн бұрын

Good luck!! Thank you for watching and for commenting.

@youtubecarspottersguide1 2 жыл бұрын

HOW does one qualify for more than 1 loan ?

@felisak6053 Жыл бұрын

Can you provide the link to that realty state class that he attended in your class? Or do you periodically offer it live or as a self-phase class?

@CoachChadCarson Жыл бұрын

Hi Felisa. The class is called Real Estate Deal School. I normally offer it 2x/year as a live, 9-week class where I coach you through how to buy your next investment property. But I'm in Spain this fall and taking a little time off. So, I'll offer it again in the new year of 2023. Here's the link: coachcarson.com/reds-yt . Thank you for your interest! Let me know if you have any questions.

@athenatong3768 9 ай бұрын

Which class do you recommend for people with 5 rentals?

@athenatong3768 9 ай бұрын

Are “affordable” in C neighborhoods or B?

@CoachChadCarson 9 ай бұрын

C is more affordable

@esherbine1991 2 жыл бұрын

I don't understand how he is able to cashflow $500 a month when he is so under the 1%.. I have a 2 rental properties and I'm at or just above the 1% rule and have a hard time cashflowing after all expenses. My expenses include; taxes, vacancy, insurance, repair/maintenance,, property management, leasing fee. After that I have to add in the 80% financed mortgage 5.5 30yr fixed payment. I'm trying to get at least $200 a month and can't find deals. Did his $500 include all expenses? Thanks and love your videos coach!

@dawsonhall5170 2 жыл бұрын

His interest rate was 3.75 if I remember correctly

@esherbine1991 2 жыл бұрын

I have my houses in an LLC so 5.5 was the best I could do.

@tonypeters3320 2 жыл бұрын

He's properties weren't that old and he probably doesn't have a high maintenance %. The interest rate he has makes a HUGE difference as well. Did you put 20% down to avoid PMI?

@tonypeters3320 2 жыл бұрын

Also where are you investing? Maybe your taxes are higher.

@esherbine1991 2 жыл бұрын

I factor in 8% for repair/maintenance. First property I was able to BRRR all my capital back out. Second property I left 40% in so I could cashflow just over $200 a month. I'm learning if it's better to cashflow or get my capital back out and going for next deal. I'm in the suburbs of Pittsburgh PA. Taxes vary greatly depending on area here.