I Bought 23 acres with a house and I'm in $1,650,000 in DEBT - Real Estate Investing
Published: 2020-03-31
Status:
Available
|
Analyzed
Published: 2020-03-31
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The speaker believes taking on reasonable debt is advantageous for real estate investment.
"in my eyes or Brandon the hillbilly investor it's been more advantageous to take on what I would consider reasonable debt"
Pending
As of three weeks prior to the video's publication, the speaker estimated their properties could be sold for $4-4.5 million, resulting in a net asset value of almost $3 million.
"I could have fire sold all the properties I have and I could have sold them for about four to four point five million dollars giving me a net asset a net assets of almost three million dollars"
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The speaker's net worth of approximately $2-3 million was impacted by the onset of the coronavirus pandemic.
"up until coronavirus happen"
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Debt and leverage are identified as tools that can accelerate the growth of real estate investments.
"debt and leverage can accelerate your growth"
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A new toilet paper plant and economic growth led to increased interest in rental properties in this town, prior to a two-week economic downturn.
"in this town investment people that want to own more than one or two rentals they essentially haven't existed people didn't want to buy rentals and that now when the economy really started going well oddly enough we built a tewart not we but a company from Italy built a 2.5 billion dollar toilet paper plant of all things here in town and the economy's really been taking off we're getting more restaurants or at least it was taking off till 2 weeks"
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The speaker observes that only higher-end properties are currently selling, unlike the lower-end properties they typically invest in.
"the properties I do see moving are nicer higher end ones I really am NOT seeing lower end stuff like I tend to buy trade with my trailer park things of that nature"
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The speaker is hesitant to convert the property to an Airbnb due to the ongoing epidemic.
"transition the property to Airbnb with the epidemic that's going on right now it kind of gives me pause as to whether I want to turn that into Airbnb"
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The speaker estimates they could get $1,000/month for a traditional rental of the house with 23 acres, due to its location and amenities.
"or I could remodel the place or do a little bit upgrades have it as a traditional rental probably get about a thousand dollars a month off of it just because the house would likely come with the 23 acres and who won't want to live on 23 acres in the middle of town where you have access to Walmart within three minutes"
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The speaker will document on YouTube whether their real estate ventures succeed or fail, indicating a commitment to transparency about their financial outcomes.
"I do promise you guys that regardless of what happens I am going to post on youtube if I go broke I go broke if I build a significantly large real estate company I'll post it on here"
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The speaker estimated an annual income of $25,000 from parking cars on their 23-acre property.
"I had an initial estimate that I can make 25k per year on this property just parking cars"
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The speaker's property generated approximately $6,000 in gross revenue from parking cars, with their net income being around $3,000.
"it brought in about $6,000 or so and then my cut was about half of it"
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Prior to early March 2020, the speaker's properties could have been sold for $4-4.5 million, resulting in nearly $3 million in net assets.
"I could have fire sold all the properties I have and I could have sold them for about four to four point five million dollars giving me a net asset a net assets of almost three million dollars"
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The house on the 23-acre property was rented for approximately $600 per month.
"the house has been rented off and on for six six hundred ish a month"
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The speaker has a $160,000 debt on the 23-acre property, structured as a 15-year note.
"I carry a debt load of $160,000 which we pay down it's a 15-year note"
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The speaker plans to utilize the property for Airbnb and parking cars, estimating an annual income of $25,000 from parking for local festivals.
"we'll see maybe I can do that in parking cars because with the local festival that we have I had an initial estimate that I can make 25k per year on this property just parking cars"
Pending
The speaker believes a renovated house on the 23 acres could fetch $1,000 per month as a traditional rental due to its location and land size.
"just because the house would likely come with the 23 acres and who won't want to live on 23 acres in the middle of town where you have access to Walmart within three minutes"
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Due to the coronavirus pandemic, the speaker is inviting friends to walk on their property.
"I figured I would walk through this property let you guys take a look with crota virus I figured I would I probably should start calling some of my friends that live here downtown and say hey if you would like go walk on my property have fun"
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The speaker observes that only higher-end properties are currently selling, not the lower-end ones they typically invest in (like trailer parks).
"the properties I do see moving are nicer higher end ones I really am NOT seeing lower end stuff like I tend to buy trade with my trailer park things of that nature"
Pending
The speaker estimated an annual income of $25,000 from parking cars on their 23-acre property.
"I had an initial estimate that I can make 25k per year on this property just parking cars"
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The speaker acquired the 23-acre property by having the seller finance 90% of the purchase price.
"essentially I told them if you'll finding us 90 percent of it I'll take it and they did we're just crazy"
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The speaker received conflicting information about the historical use of the house on their property, with suggestions it was a pool house or a slaughterhouse.
"I was told at one time this was a pool house for a pool that may have existed in the city another individual or several people told me that it was a slaughterhouse back in the 50s"
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The speaker estimates they could earn $1,000 per month by renting out the house as a traditional rental after renovations.
"I could remodel the place or do a little bit upgrades have it as a traditional rental probably get about a thousand dollars a month off of it"
Pending