Making BIG $$$ With CHEAP Mini-Hotels Ft. Matt Cox
Published: 2021-09-07
Status:
Available
|
Analyzed
Published: 2021-09-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Investing in low-cost real estate, specifically rooming houses, can be highly profitable.
"if you're buying them for this price yeah definitely you can make a ton of money"
Pending
There is uncertainty in the real estate market over the next 18 months.
"what would you do in the real estate market right now with the uncertainty of what's going to happen in the next 18 months with the real estate market"
Pending
Rooming houses are considered a safe entry-level real estate investment, especially given market uncertainty.
"the only safe bet in my opinion at somebody who's kind of at an entry level would be rooming houses"
Pending
A strategy to increase rental income involves converting living rooms and dining rooms into additional bedrooms in a 3-bedroom house.
"you could take a three bedroom two bath or three bedroom one bath and you can turn the living room and dining room into a bedroom"
Pending
Buying houses in lower-middle-class areas at a reasonable price and converting them into rooming houses can yield approximately $1500 in monthly profit.
"if you're in a lower middle c lower middle class area you can buy a house reasonably it doesn't matter if you buy it correctly you do the math roughly you're going to make about 1500 bucks a month profit"
Pending
The profitability of rooming houses led to an immediate decision to convert a nearby house into another rooming house.
"i can't bulldoze this place i immediately bought a house across the street turned it into a rooming house"
Pending
The high profitability of rooming houses prompted a strategy to convert all available properties into them.
"we were turning everything in a rooming house because we were making so much money"
Pending
A property intended for demolition was inadvertently converted into a profitable rooming house due to the income generated from rent collection.
"the first rooming house i bought i actually talk about this on my channel i do like a whole 30 minute thing where i talk about i actually was an accident where i went in to buy a house to bulldoze it to build two houses and but when i got there at the closing the guy goes the guy who was selling me the house said to me do you want to go collect rent"
Pending
Properties acquired 15-16 years ago as rooming houses are still generating approximately $5,000 per month in income.
"i probably live off those things and i'm going that's three that's 15 16 years ago you bought those you don't own any more like you know how much money you're making yeah man i make about five grand a month off those"
Pending
The rooming house model is a proven, legal money-making scheme that could be scaled significantly, analogous to McDonald's business model.
"the thing is if you can mcdonaldize that yeah like to me it's like this is a money-making scheme that works and it's legal why haven't you mcdonaldized it why don't you own 100 of these"
Pending
Charging $500 for a room in a rooming house is a more affordable alternative to renting a two-bedroom apartment, which can cost up to $2,000 per month in medium cost-of-living cities.
"you're charging 500 for a room and i'm like you know the alternative in some of these medium cost of living cities is for them to go buy a two bedroom apartment or rent one and their cost of living is not 500 a month capped it's 2000 a month"
Pending
Rooming houses provide housing opportunities that, while not ideal, are superior to other available market options.
"you're creating housing opportunities they might not be like your housing opportunities that you want but they're better than what's on the market right now"
Pending
All of the speaker's current rooming houses are of a higher quality than the house they grew up in.
"every single runway i have is nicer than what i grew up in"
Pending
Rooming houses serve as a means for individuals to get back on their feet, with some residents staying for up to 10 years.
"the fact is this is a way for you to get back on your feet and a lot of people move in and they stay there for 10 years and that's where they're at that's okay"
Pending
The speaker would embrace the 'slumlord' label and scale up to own 100 rooming houses, highlighting the financial success (luxury car, mansion) achieved through this strategy.
"i would put slumlord on my business card and i would have a hundred of these and i'd say to everyone of my lawyer buddies and my accountant buddies i'd be like i'm driving a hundred thousand dollar mercedes i live in a three million dollar mansion and i own every single eco unit on the on this street"
Pending
Legally generating income from real estate investments allows for peace of mind and a good night's sleep.
"if you're making money out at it and it's legal yeah i could sleep like a baby at night"
Pending
Implementing timers on lights in rental units can significantly reduce electricity consumption.
"so you know you could turn your light on for an hour an hour later they've been oh my goodness that's amazing yeah timers on the lights or we eventually got the ones where you can push for like 15 minutes 20 minutes"
Pending
To prevent excessive energy usage by tenants, timers were implemented on lights and air conditioning units, with overrides disabled.
"we glued them shut so you can only turn the timers on same thing listen i had a guy we had uh the wall units the window rattlers right yeah we had wall units on we had to get an electrician to make a box so we could put a four hour timer and zip it and it would go all shut off every four hours because these guys will leave the lights on"
Pending
Implementing timed energy usage reduced an electric bill from $1400 to $700 in one property.
"after we did that we cut the electric bill in one of our places from 1400 down to 700"
Pending
Replacing toilets in a thousand apartments resulted in a $1 million increase in market value.
"all he did was he took he's like a thousand apartments all he did was replace the toilets and improve the market value by a million dollars"
Pending
The speaker acquired foreclosed properties, including duplexes, with an average cost of $40,000 per unit.
"people do it this was this unit that i bought was foreclosed on i owed three on the street that were foreclosure foreclosed duplexes um and my average cost is forty thousand dollars now"
Pending
Rental rates for individual rooms can be determined by dividing the total desired income for the house by the square footage of each room.
"you can take the square footage of each room and then divide it by what you want to make oh yeah so some people are paying this guy is paying a hundred and you know 137 this guy is paying 98 this guy is paying because the overall house has to make this much money so everybody said well that he only pays this much yeah well his house his room is 100 square feet"
Pending
Standardizing rental rates on a per-square-foot basis for a storage locker facility is projected to increase monthly revenue by $750.
"one of the things we're doing is just you making the rates uniform on a per square foot basis and our i think we're going to make an extra 750 per month in the first phase of increasing the price on or increasing the revenue on the storage locker facility just by levelizing the rates"
Pending
The strategy of uniform pricing based on square footage can be applied to various real estate sectors, limited only by creativity and knowledge.
"this applies for residential applies for commercial all sorts of different things you can implement the strategy in a bunch of different ways it's kind of limited you're kind of limited to your creativity and your knowledge"
Pending
A property with eight units, refinanced via a cash-out, is generating good income through Airbnb rentals, not as traditional rooming houses.
"he did a cash out refinance i think he has eight units here and it's really amazing and he's making good money off this place but it's not sleeping rooms it's airbnb"
Pending
Airbnb units are priced at $50 per day, resulting in $400 per day at full occupancy, which equates to $12,000 per month for the entire house.
"i think their their rate right now is fifty dollars per unit per day right four hundred dollars a day at 100 occupancy which you know for this house it's 12 dollars a month of full occupancy which is pretty cool"
Pending
A real estate deal was secured with no upfront capital by buying with cash and immediately refinancing to recoup the investment.
"after two months sean bought this place with no money out of pocket he bought it for cash he immediately refinanced it refinance wiped out all of his cash spent on it"
Pending
A manufactured item, potentially a vending machine or similar device, is valued at around $1,000 and operates using quarters.
"we actually manufactured these and a buddy of mine what is that worth probably a thousand dollars at this point really i'm sure it's going up and it's going to work more than that it fully works if it works and it uh it takes delicious quarters guys"
Pending
A friend acquired an old warehouse containing hundreds of a specific item (likely related to the previous mention of the coin-operated device).
"a body of mine bought an old warehouse with hundreds of these in them"
Pending
Opportunities exist in real estate to preserve unique properties, generate income, and achieve financial goals by actively participating in the market.
"they don't make stuff like this anymore and it's the kind of opportunity that you have when you get in real estate you can preserve a property you can make money off you can do whatever you want to if you're willing to get in the game"
Pending
The speaker's real estate strategies allow individuals to enter the market with minimal financial investment.
"and with match strategies my strategies you know you can get into with look really not a lot of money"
Pending
A $2,000 per month rental in Los Angeles is currently being used with just a couch, suggesting a missed opportunity to convert it into a full apartment.
"in l.a this is a 2 000 a month rental in l.a right here and they just have a couch in here i don't know i don't know why sean hasn't turned it into its own apartment yet but he should"
Pending
A house built in the mid-1800s, historically housing servants, has a third floor.
"this is built in the mid 1800s a lot of people had servants and we're meandering our way to the third floor"
Pending