Retire Rich with RealEstate

I Bought This House Sight Unseen! Property prices have increased so fast that many houses we used to buy for deep discounts are selling at premium prices. I know a great deal when I see one and this property was just what we have been looking for. http://www.retirerichwithrealestate.com/ #RentalProperty #BuyingSightUnseen #Cashflow

How to play Rich Dad's Cash Flow online for Free! I think it is a very good educational tool for learning how to invest in real life! Link to Cash Flow Game: https://www.richdad.com/cashflow http://retirerichwithrealestate.com #Kiyosaki #richdad #CashFlowGame

How we recently expanded our storage facility with prefabricated buildings! http://www.retirerichwithrealestate.com #selfstorage #selfstorageinvesting #retirerich

How Much Damage Do Tenants Cause? In this video, we go through three separate tenant move-outs over three consecutive years. Showing any damages and the condition of the property after each tenant. #TenantDamages #MoveOutDamage #RentalTurnoverCondition HTTP://retirerichwithrealestate.com

Is NOW the time to sell your rental properties? With record-high real estate prices should you take some profit now? #TimeToSell #SellingRentalProperty #TakingProfits

How To Fix A Leaky Sink Basket. This video shows you how to replace a leaky sink basket. This is a common problem found in rental properties. Stop paying hundreds of dollars to have a plumber fix simple repairs! Products Mentioned in this Video (Affiliate Links): Lock Nut Wrench - https://homedepot.sjv.io/5b0ZmL EZ Change Plumbing Wrench Faucet Installation and Removal Tool - https://homedepot.sjv.io/BXdzOB Pop-Up Plug Wrench - https://homedepot.sjv.io/b31DPg EZ-Lock Kitchen Sink Strainer - https://homedepot.sjv.io/6bMPnQ OATEY - 14 oz. Plumber's Putty - https://homedepot.sjv.io/ORd9OZ #SinkBasketRepair #LeakySink #HowToFixSinkLeak

Purchasing a Storage Facility 2021 was a year much like 2020, with the rising real estate prices we had a difficult time finding rental properties for sale that make sense for us to buy. We were able to pick up one rental house back in the spring. Shortly after we bought that one we had lunch with a wholesaler friend of ours. He was telling us how he and his brother had just bought a small self-storage facility. After telling us about how he found and structured the deal, he said they really liked the business model and they were trying to find another, possibly larger one, to purchase. We told him we had also looked into investing in the storage business and would be interested if he found any storage facilities that he wasn’t interested in buying, to let us know. Well probably about two weeks later, he called us and said he had found a small storage facility that might be for sale off-market. We told him we were definitely interested. The following week, we met with the sellers, walked the property, and decided to make an offer. After a little back and forth discussion, we agreed on the terms of the sale. The sellers said they wanted their attorney to look over the deal and draw up the contract, of course, we were fine with that. Then before we had anything signed, things went a little sideways. Someone else, upon hearing that the owners were selling, told the owners they were interested in buying the facility and they would be willing to pay more for it. So the sellers said they weren’t going to honor the deal unless we were willing to match the higher offer. They wanted more money. We told them we would not get into a bidding war, they should take the other offer. This was a little upsetting, but we decided to walk away. We were disappointed, but we are used to walking away from deals if the numbers don’t work. A couple of months later, our friend, the wholesaler, calls us back and says the deal on the storage facility fell through with the other buyer and the owners would be interested in renegotiating a deal. At this point, we agreed to submit a final offer, take it or leave it. We offered to give them $15k more and pay $100k cash down, but in return, we asked them to carry back a 0% interest 18-month note for the balance. They agreed! http://retirerichwithrealestate.com #BuyingAStorageFacility #InvestingInStorage #SelfStorageInvesting Chapters: 0:00 - Start 0:29 - Intro 1:01 - 2021 Year in Review 1:27 - Purchasing a Rental House 2:37 - Meeting with Wholesaler 4:33 - Finding the Deal 4:57 - Meeting Sellers and Making Offer 5:28 - Deal Falls Apart 6:37 - Patience Pays Off 6:56 - New Offer Made 7:18 - Taking Over Facility 8:32 - Opportunities for Growth 9:24 - Plans and Progress So Far 11:11 - Quick Tour 14:52 - Outro

How Leverage works, the benefits of using leverage, and the potential pitfalls. Leverage is the use of financing to borrow capital for investment, with the expectation that multiplying the risk-reward relationship of the investment will create more potential profit. In other words, the more money you invest, the more risk you have and the larger the reward (profits) you receive, if all goes as well with your investment. The difference between paying cash and financing Let us assume you have $100,000 to invest and want to purchase a rental property. You find a rental property for $100,000 and you decide to finance that property with a 20% down payment at 5% interest. If that property rents for $1,000 per month, it is making a 12% gross annual return. After you deduct the mortgage interest you are making a net of 7%. That’s a pretty good return and you didn't have to spend the full $100,000 to get it either. You only spent $20,000 out of pocket for the down payment. Thus leaving you with $80,000 cash left to invest in other properties. Assuming you could repeat the example above you could purchase 5 properties using financing and your $100,000 cash. Giving you a gross income of $60,000 per year and a net income of $35,000 after mortgage interest. If you pay cash to buy one property you’ll have to spend all of your $100,000 and you’ll make 5% more profit per year because you don’t have a mortgage. Now here is where the leverage kicks in, on the cash deal you have a $12,000 per year rental income, which is a 12% return vs. 7% per house in the 5 house deal. But financing 5 houses using the $100,000 as a down payment (5 x $20k) gives you a $35,000 per year rental income or 35% return. So using leverage in the scenario gives you almost 300% more income! Mortgages are usually some of the cheapest money you can borrow because the loans are backed by the asset of real estate. Mortgage rates are currently at historically low rates. If you choose to finance, I would only finance properties with a fixed-rate mortgage. The advantage of financing real estate with a fixed-rate mortgage is the rate is locked in and cannot be raised for the term of the mortgage. Another great advantage is you also have the ability to refinance if the interest rates go down or keep the lower rate if rates increase. So they are win-win. Variable-rate and interest-only mortgages might be available at slightly cheaper rates, but the risk of the rate increasing as the loan matures is much higher. For that reason, I would avoid these types of mortgages. #HowLeverageWorks #UsingLeverage #LeverageVsPayingCash HTTP://www.retirerichwithrealestate.com Chapters: 0:00 - Start 0:34 - Intro 1:00 - Using Leverage Vs Cash 2:40 - Mortgage Rates 3:34 - Appreciation 4:15 - Leverage Example 4:40 - Leverage Chart 1 Finance vs 1 Cash Deal 6:33 - Leverage Chart 5 Finance Deals vs 1 Cash Deal 8:50 - Cash Flow is King 9:32 - Most People Don't Have the Cash 10:26 - The Benefits of Using Leverage 10:48 - Negatives of Using Leverage 11:20 - Conclusion 12:26 - Outro

Kiyosaki vs Ramsey Who is Right About Using Debt? Robert Kiyosaki and Dave Ramsey are probably two of the biggest names in personal finance today. But they have almost polar opposite views on financing and investing. For those not familiar with these two, Robert Kiyosaki is the author of the best-selling book Rich Dad Poor Dad, which he has now turned into a series of books, and a brand of educational games and other media. Dave Ramsey is a best-selling author, a nationally syndicated radio host, and owner of Ramsey Solutions, an educational company that sells personal finance training programs. Robert Kiyosaki became famous for teaching such unconventional notions as “Your home is not an asset”. Here’s how he defines assets and liabilities, “ An asset is anything that puts money in your pocket every month, and liability is something that takes money out of your pocket every month”. He also believes you should “never say, ‘you cannot afford something’. That is a poor man’s attitude. Instead ask yourself, ‘How can you afford it?’”. These unusual concepts are what made him popular and helped him take the personal finance world by storm. His philosophy on debt is that it should only be used to finance assets like rental properties, not liabilities like cars, boats, and as he says, “doodads”. He believes the key to investing is to leverage your assets to maximize your ability to purchase more assets. Which on some level makes sense because you can grow your investment portfolio much quicker. But this is not without risk! #DaveRamsey #RobertKiyosaki #BestAdvice How I Use Real Estate to Pay for My Truck https://www.youtube.com/watch?v=G6_UDWoelCY HTTP://www.retirerichwithrealestate.com Chapters: 0:00 - Start 0:29 - Intro 0:40 - Robert Kiyosaki Introduction 0:50 - Dave Ramsey Introduction 1:02 - Kiyosaki's Teachings 2:50 - Dave Ramsey's Teachings 3:30 - Dave's 7 Baby Steps 4:18 - Financial Peace University 7:50 - My Thoughts About Using Debt 9:05 - Where I Disagree with Dave 11:32 - Lessons Learn from Robert Kiyosaki 14:10 - Using Debt to Finance Income Producing Assets 14:20 - The BRRRR Method 16:01 - Conclusion 17:47 - Outro