Step-by-Step How To Buy Your First Rental Property In 6 months

Рет қаралды 62,934

6 ай бұрын

Join Ken and Danille as they talk about how to buy your first rental in 2024.
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ABOUT KEN:
Ken is the author of the bestselling books The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABCs of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.

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Пікірлер: 72

@KenMcElroy 6 ай бұрын

Reserve your spot for Danille's FREE Wednesday Webinar: kenmcelroy.com/webinars/

@tahirisaid2693 3 ай бұрын

I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.

@KentBrono 3 ай бұрын

You are right! I’ve diversified my portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.

@KentBrono 3 ай бұрын

“Angela Lynn Schilling” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

@keiranvo 2 ай бұрын

Bot.

@kimberlyrobinson1197 6 ай бұрын

Ken's microphone volume needs to be turned up for these shows. It would help tremendously. Nothing but love

@marcus_fields 6 ай бұрын

👋🏾 hey wassup cutie

@hp7639 6 ай бұрын

I think he sounds low because hers is too high or she speaks too loud into the mic.

@Bryanbobber 6 ай бұрын

Would it matter if it was turned up? Lol. It's the same content over and over again. Generic answers to generic questions.

@tristanbuffett 6 ай бұрын

Danille's voice is not sexy to listen to.

@ElJefe360 6 ай бұрын

And Danille’s mic turned OFF please

@bartmastin3272 6 ай бұрын

Thank you for the video. I have a lot of respect for you Ken.

@briandesantiago6380 6 ай бұрын

Hey ken I wanna thank you for leveling up my game and helping people like me trying to make it. I started to read your book abcs of real estate and it’s such a powerful book, with so much knowledge thank you again.

@huetube3314 6 ай бұрын

Thank you guys so much .I love what Ken has to say and Daniel just puts it all together for us to learn from Ken so much great info 👌

@lorigovi718 6 ай бұрын

I have a 2.125% mortgage and it cash flows. 🙌👏

@viradolgushyna3150 6 ай бұрын

Ken, your advice is invaluable! Thank you so much for sharing your expertise. 😊

@riverkatia3113 4 ай бұрын

Thank you so much. You’re such a great persons. I am thankful for all the info you guys provide. You both are model to follow for me .

@MIL_BanhadE.1031. Ай бұрын

thanks for your time all.

@alm8bob 6 ай бұрын

Thank you so much for this great video 👍 😊

@RealEstateEntrepreneur 6 ай бұрын

That is what I am looking to do right now. But a 4 unit or 5 unit to live in one of the units.

@nolo3 3 ай бұрын

You are putting out some great content. Thank you

@leeroach3381 6 ай бұрын

Very helpful Thank you for sharing

@adventurebabyboomer7318 Ай бұрын

I would be very careful of Phoenix. Water issues. Cannot accommodate the level of incomiing migration (I was raised there).

@Link-tx8vq 6 ай бұрын

Thanks for the info!

@hensokchea 6 ай бұрын

Thank you so much

@karenjackson358 6 ай бұрын

Hi Ken, please provide on purchasing multi families, i.e. interest rates, down payments, etc. It seems like you focused single family and short-term rentals.

@absolutecrypto95 6 ай бұрын

Love you guys your both awesome

@ronkellam8184 6 ай бұрын

Ken, You mentioned in one video the markets you are interested in at this time. You mentioned Seattle. I heard from a friend that Washington is likely going to pass a law taxing rental property owners on their rentals. This may take effect on Jan.1, 2025. I might be trapped here if that happens. I refinanced three properties in 2020 to buy a fourth. My interest rates are two at 4.25% and two at 4.375% I don't want to sell or do a 1031 exchange and move into a 7% or 8% mortgage. You might want to check this out before you buy in Searttle.

@_m_K_. 6 ай бұрын

For clarification on SSA, Ken is referring to people who retire BEFORE FULL RETIREMENT AGE. Before your full age, then earned income from wages counts towards the annual earnings limit. Passive income from rentals doesn't. However, if your higher income and over 65, rental income DOES count for IRMAA/Medicare purposes.

@Bilbo383 6 ай бұрын

What's a good cash on cash return for Ken? Does it fluctuate based on the class of the market?

@traceysweeney6965 5 ай бұрын

I would love to send you a project in the white mountains AZ to take a look at.

@rynophiliac 3 ай бұрын

I’ve been looking in the Phoenix market for years and I can’t find anything that cash flows at all unless you put 50% down

@ruthiebast4222 4 ай бұрын

Hi Kenny and Danille, in simple terms, what is capital appreciation?

@shanerogers9386 6 ай бұрын

A 500K home in 2021 is now 1.5MM - 2.5MM here in south Florida because every single home has been hoarded away from families by flippers and investors.

@user-jd6fv5po3s 5 ай бұрын

If you EQ'd the higher-mid range slightly out of Danille's mic and lowered the gain a tad, boosted it in Ken' and raised the gain (keeping both levels around -10db for headroom), then loaded a compressor on the master bus (fast attack, slow release) with gain compensation it would sound so much better

@iAmTonySaint 3 ай бұрын

I don’t think they’re going to take that very specific advice 😂

@9xqspx6 Ай бұрын

Is that a MC-Opoly in the background?

@SLcreativeheart 6 ай бұрын

The seller does not have to disclose what an inspector finds unless the seller is privy to the inspection report. If a deal falls out and the seller is never told, they don't have anything to disclose.

@astrologyfactor8588 6 ай бұрын

Alot of good information! Thanks!

@righteousdivine Ай бұрын

Someone told me that you don't need an LLC on each property as long as you have adequate umbrella insurance protection. How true or untrue is that idea?

@tingxiao7463 6 ай бұрын

i'm selling my rental in MD and is deciding if I want to reinvest to take advantage of the 1031. I'm comparing to getting 5% return on short term bonds to my rental returns. The numbers just doesn't' make sense to reinvest even if I have to pay capital gains from selling my rental. Anyone one else feeling this way?

@TrevorD1977 6 ай бұрын

Keep in mind you don’t get any depreciation to offset income on bonds. Also, if rates really go down this year, so will that short term bond yield.

@Horatio1886build 5 ай бұрын

Yes I agree. But if your hands on to some degree, there is still the opportunity to add value albeit with risk and your time. But my money is in 5+ CD for a year while I fall back and regroup. And study.

@AA-rc4zr 4 ай бұрын

$500 per until cash flow on a new purchase is huge. Unless you are putting more than 20% down payment. Hard to find.

@OneLeggedTarantula Ай бұрын

maybe it was 250/door?

@KingLoneWolf44 29 күн бұрын

I invested in a rental property in 2021 in Cali. It was a horrible investment I lost the property within two years . The property foreclosed and I had squatters in one of four multifamily and California is a tenant state. I ran out of $$$. I listen to all the podcast and I sign up for many mentors, which I didn’t get no deals with any mentoring I sign up for. Please be careful there are a lot of bad advice out here and everyone has a mentor class or some sort of an academy.

@richarddefrese4484 6 ай бұрын

I disagree with the wrong spot... prices are too high and rents are almost the same as the "progressing" area. Get the cash flow... definitely not "barely".

@shalvakatsiashvili4191 6 ай бұрын

Now I have 4th rental property

@Institutional_ 6 ай бұрын

congratulation 🎉 can you give some advice for someone who want to start

@absolutecrypto95 6 ай бұрын

How did you start and how's it going

@vd.s6158 6 ай бұрын

Good job

@poonekar 6 ай бұрын

⁠@@Institutional_ do you have a specific question? This whole video is about how to start but here’s what I would suggest … Understand what you can afford, define your buy box, look every day for properties in that buy box that cash flows for atleast 30 days before you put your first offer, find an investor friendly agent who can represent your aggressive offer.

@shalvakatsiashvili4191 6 ай бұрын

@@Institutional_my only advice is to read Robert Kiosaki's Rich dad, Por Dad. I read it several years ago and now, I know that Kiosaki was right.

@niknabernik4700 4 ай бұрын

When you startet to speak I imagine like business beast being ready to cashflow 😂😂

@jennaquade5055 5 ай бұрын

If you had 40k in the bank what would you do with it in the Tampa Bay Area?

@Aninebula 5 ай бұрын

I’m 21 and you sound relatable lol I said my age to point out in a younger person waiting to jump into this hectic venture… My plans to save more and wait till post elections

@Hoodlum728 4 ай бұрын

High yield savings account for now. Around 5% return, no risk, only “negative” in mine is if I withdraw more than once a quarter, their is a $25 dollar fee. But I’m not withdrawing…

@billytran179 5 ай бұрын

Roommates need to pay $700-750 per room...inflation killing everyone...

@tsuipingho8946 Ай бұрын

Up till now fed has not lowered rate and inflation has not gone down as expected!

@monkmysterio 6 ай бұрын

excellent point about home inspectors. Not very thorough...some are obese, have brain fog, have bad eye sight, especially in the red states lol

@dbrown6936 6 ай бұрын

The volume level between the two of you is outrageous and not fun to listen to. Love your show.

@cremls 6 ай бұрын

2012 was a good time to buy, 2001 was even better. In comparison, buying today looks very grim. I wouldn't recommend anyone buy a house especially. Cost ratio is way off. Don't count on appreciation. Words are cursed. Peek at the cards.

@charliesizemore9971 6 ай бұрын

5% down and cash flow? Who you crappy?

@fundingsecured7072 5 ай бұрын

Guy is a scam if you know kindergarten Math.

@fundingsecured7072 5 ай бұрын

Of course you should buy at all time high. 😂

@thecars570 6 ай бұрын

Volume level of show is too low.

@hp7639 6 ай бұрын

his is possibly little low and hers is way too high.

@UCSF2023 3 ай бұрын

Seriously, "pre-approved". ?? Know your audience please.

@freeclocknihg9792 4 ай бұрын

That lip was lipping 👄

@michaelmcwhirter 5 ай бұрын

I'm active duty military and I'm thinking about getting a rental property right now. I could use the VA loan but am not sure if I should househack or rent a place. Is now a good time to catch a duplex and have a tenant help with my mortgage? Anynody please feel free to share your thoughts! 🫡

@casasdenick 2 ай бұрын

What market? The VA loan is arguably one of the most powerful investing tools. I'm a Marine veteran and lender, here to help if needed.