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today I'm coming to you from galaxy's edge in Disneyland and I'm going to show you exactly how by 27 years old I became financially free and how you can do it as well know this isn't some lame get-rich-quick scheme I'm going to teach you how every single American without trying to save five dollars here they are on a latte could end up becoming financially free and building a massive amount of wealth through owning income real estate and no I'm not talking about those radio ads either where they say you can get rich using other people's money no we're gonna teach you the real way to build well let's get started I remember when I was 16 years old I sold my World of Warcraft account for 1990 dollars that's almost 2000 dollars and the very first thing I did with that money about a Sony TV so I can play xbox in HD and look buying stuff is fun the nice thing about the path that I took is I get to keep buying stuff and build wealth at the same time what did we buy yesterday from the Toy Story store a toy claw machine now you might be wondering how is that possible how could you keep spending money and build wealth at the same time that seems counterintuitive after all our culture says well if you want to build wealth you gotta save money put money into index funds and just be patient the earlier you start the better we've heard all of this advice before but to me I found there's an easier way now some of you might already know what this investing strategy is but for those of you that don't let's come up with a very simple example let's say somebody said to you hey how about I give you twenty million dollars worth of real estate but you have to have twenty million dollars of debt given to you as well you might be paying yourself well that means you weren't really given anything right you were given twenty million dollars of properties and twenty million dollars of debt that's zero net worth right twenty assets 20 in liabilities zero net worth the first thing you might be thinking is oh my gosh twenty million dollars in debt sounds terrible I prefer to be debt-free well think about this for a moment ignore cash flow vacancy repairs tenancy all this other complicated stuff just get that out of your mind for a moment just think solely about twenty million dollars in debt for a moment if somebody else paid that twenty million dollars of debt off for you aka tenants but we'll get to that part every single month your net worth would go up thirty five thousand dollars doing nothing that's called principle pay down because every single month when you make a payment on a single-family house a duplex triplex or a four-plex you're paying off what's known as principle or you're paying the bank money back so that eventually you don't owe that debt anymore now this isn't to be confused with my credit card debt where oftentimes you can never get out of debt this is real estate debt but there's a lot more power to this so let's talk about the other powers so now we know just by paying off this debt and nothing else no cash flow nothing else your net worth is going up $35,000 per month I know this might sound a little far-fetched 20 million dollars of real estate but the principles are very powerful roll with them for a moment so every single bond you're building this net worth because somebody else is paying off your debt for you what's the other thing that happens well let's take 20 million dollars for a moment and say okay if there's 20 million dollars in real estate went up in value or appreciated just 1% per year does that mean to you $200,000 per year doing nothing he's watching us jack now rightfully so you might be thinking oh with its inflation that sort of erodes the value of your money real estate is probably one of the strongest protections against inflation see as inflation happens the value of real estate goes up in fact it usually goes up a good amount more than inflation so if inflation is 1.8 percent maybe real estate will go up 3 or 4 percent you pocket the difference and those are long-run averages - so we're not speculating and saying oh yeah values are gonna go up 10 20 % also the more inflation happens the less your 20 million dollars of debt is worth see as inflation happens rent goes up that is the people paying off your loans actually end up paying you more every single year than they did the year before that but the debt you're paying off stays the same because you always want to take out what are known as 30-year fixed-rate loans that way your payment never changes kind of like the shenanigans that happened in the 2008 recession we don't want that so what then is the easiest way to go from no starship to a home to a big starship well my opinion the best way to do that is take advantage of a very very simple concept think about this have you ever heard of people who flip real estate they buy a house for one price and then they try to do some improvements to it and then they flip it for me money a lot of people make money doing that they could make a good living flipping real estate that's why there are so many programs teaching people how to flip real estate the problem is with flipping real estate you constantly need to find good properties to buy and that's a little frustrating because you buy a good property you sell it and then you get to buy another one is there a better way though to build wealth beyond sitting around and constantly trying to flip properties or wholesale real estate is there a better way than trying to save money and put money aside in an index fund well my opinion the answer is yes here's why when I was 19 years old I bought a house for $305,000 I was competing against flippers but I decided you know what I want to get into homeownership so I'm going to beat the flippers we're just gonna pay a little bit more than the flippers when I bought that three hundred five thousand dollar house the house needed about fifty thousand dollars worth of work the house was worth I was done with it that means that 19 years old I went from a net worth of nine thousand dollars that was my downpayment on this property to owning a property that I only owed three hundred fifty thousand dollars on purchase price fix-up and that was now worth $450,000 now I could have easily flipped it but I decided you know what I'm gonna hold on to it it's them rather than buying and selling real estate I'm gonna take advantage of something simple and this is exactly what everybody can do step number one save just enough money to get a downpayment somewhere around five to ten percent down is fine don't worry about mortgage insurance or all that crap just pay it get pre-approved the second thing you should do is rather than wait around for 20 or 25% down you should focus on finding properties that need a little bit of cosmetic repair you know the basics like paint carpet flooring maybe update the kitchen and bathrooms a little bit nothing crazy nothing that you couldn't do yourself in fact that property that I bought when I was 19 years old my goal was to do everything myself to save even more money but if you don't have the time to do that you can hire somebody else to do it as well now a common thing people ask is well wait a minute how am I supposed to find a good deal aren't other agents or investors just going to buy all the good deals no because your goal isn't to sell your real estate or flip it like most people do your goal is to keep this real estate forever the beautiful thing about that is you're able to pay more than what the flippers are paying or the investors are paying in other words I don't care what market you're in whether you're in New York City or in Brooklyn urine Idaho you're in California you're in Florida you're in the UK it doesn't matter if there are people flipping a real estate in your city which I guarantee you there are people flipping real estate any city you're in you can buy below market value deals by paying a little bit more money than the flippers controlling real estate and guess what if you just did this once every two to four years you'd get your twenty million dollars in real estate in fact you'd end up having more than 20 million dollars in real estate so obviously to get to the point where these properties are worth over twenty million dollars it's going to take a little bit of time but the beautiful thing about owning real estate is it doesn't require you to cut all of the other expenses out of your life it doesn't require you to try to save every single penny instead your goal is find a property to buy find something to move in to find something to live in for a little bit then two or three years later move there's a lot of conventional talk that says you shouldn't own real estate until you're ready to settle down and have a family but if you focus on buying below market value deals I need a little bit of work when you rent them out cover your payment then you're doing what's known as buying a wedge deals and buying wedge deals is the core of my real estate investing course link below which you can get 22% off on until September 10th of this year that's my dad's birthday and so this way when you want to go to the marketplace and you want to buy stuff you can buy whatever you want as long as you have a job and you can qualify for real estate your only goal is buy a place every two to four maybe five years that needs some work fix it up keep the thing forever if you're going to live in it for a year or two perfect then you become an expert in that house you get to do a little bit of work on the house if you want to while you're there and then move and do it again keep all of your real estate forever in fact take a look at this screenshot from John w's thank you thank you thank you post in our real estate investing course today where he fired his realtor to D list his house for sale decided to keep it as a rental had 10 plus applicants in four days and now has a tenant paying more in rent than the mortgage payment would have been for the buyer which means cash flow for John principle pay down for John appreciation tax write-offs and you name it and he saved $30,000 in selling costs and now that example that I told you early on where that appreciation builds your net worth where that principal pay down lowers your debt and build your network happens automatically see to me that actually makes real estate one of the easiest forms of passive income because every single month when you collect rent from your tenants or your property manager collects the rent for you and then you pay off your loan guess what's really happening your tenant is paying off your loan for you everybody obviously you want to buffer in there for repairs and as things come up I have a rule of thumb I say hey you know what for $200 aside for every single tenant you have every single month up until you have around $7,500 to maybe ten thousand dollars per unit just in case something comes up yeah well something man totally pleasure oh that's awesome man here they know me now there are two other things worth mentioning and number one a lot of people say oh you know what I should have signed hustle to build some extra income so that way I can invest more and I'll just invest my side household income now look at that actually as a mistake in my opinion if let's say you're making as a coupl you look well I'll have a side hustle I'll go drive uber or I'll go do some small maybe you make an extra 20 grand or whatever and invest that my thinking that's not gonna get you far in my opinion if instead you took that time that you were dedicating to driving an uber or site hustling and dedicated it to learning how to invest in real estate and finding deals and investing every remember you only need a deal every year or two three four years it's not like you constantly need a stream of deals just keep an eye out educate yourself know what to look for that will end up being much more profitable than any kind of side hustle where you're making 20 bucks an hour or whatever and then investing that money the second mistake in my opinion is constantly worrying about a recession look the bottom line is you end up getting to the place where you have millions of dollars worth of real estate it doesn't matter if property values fluctuate down or fluctuate up again if you constantly buy deals below market value first of all you insulate yourself from loss you're not paying market price or something very expensive and then worried about a fall because somehow you might have to sell you're not planning on selling so you're never really gonna capitalize on this whole I got to sell it thing anyway just rent it out have your payment covered and be a long-term investor so now here's another good one that I hear regularly oh well it's too expensive in my area guarantee in any you can not only find below market value deals but you can make it work even if that means you get a 3-bedroom house and you rent out two of the rooms to where your payment is less than what you're paying in rent now or you house hack by buying a two three or four unit building also with three and a half to five percent down rent out the other units and have the fact that you never have tenants help you make the payment now I would say 9 out of 10 times you're going to end up getting the best of below market value deals on single-family real estate but that doesn't mean you shouldn't also keep an eye on looking for potential multi-family deals now look none of what I'm saying says you shouldn't still be somewhat frugal but honestly I get a little bit frustrated when I hear people say oh you know what I'm gonna get the cheapest possible hotel I'm gonna get the cheapest possible everything through life it's important to also enjoy life as you go through it but constantly trying to save every minute dime isn't in my opinion the best way to build wealth is it leads to a frustrating life and an associate sort of this pain with investing but it shouldn't building wealth shouldn't be painful it should be fun you have just built a lightsaber and that's one of the things I've learned to love about real estate so you think about this web if I put my money into an SP index factor that is my initial $9,000 for that down payment on that three hundred and five thousand dollar house can I put that money into an index fund and let's say I quadrupled my money I would have had thirty six thousand dollars but instead because I got a loan on a property that I knew I was getting for less than market value because it needed some cosmetic work a property that I was paying just a little bit more than the flippers were paying for I knew I was safe because I could always turn around and rent this thing out for a cash flow because I was getting it below market value but instead of that index fund I turned that nine thousand dollars into controlling a three hundred and five thousand dollar property that was quickly worth four hundred fifty thousand dollars because I had to put some work into it that's how flippers make money after all so you know the opportunity exists if flippers are in your area now that property is worth six hundred thousand dollars which means even if I sold that property today and pay it all the selling costs to sell it and paid off my debt I'd probably walk away with somewhere around two hundred twenty-five thousand dollars because I lived in the property for two out of the last five years that two hundred twenty-five thousand dollars would be tax-free thanks America so now in eight years instead of turning nine thousand dollars into maybe thirty six thousand dollars in an index fund I turned nine thousand dollars into two hundred twenty-five thousand dollars tax-free now check what the CPA but there are also ways to make this tax-free if I kept the property forever but to me I've sort of gamified real estate if I find just one good deal every couple years I know that I continue to bump my net worth and I continue to bump my cash flow every single time the beautiful thing is every single person watching this video can do exactly there's nothing stopping anybody from buying a single-family a duplex triplex four-plex then doing it again then doing it again the problem is mainstream media says you know what if you move you should sell property if you are younger you don't want to be tied down by a 30-year mortgage all this stuff is a bunch of nonsense and it's nonsense that's usually generated by industries that are either trying to sell your property or trying to get you to invest in their fund now just for a bit more perspective just this year because I do real estate investing full-time I bought three properties that matched what I described to you in this video and there should really be no objection in fact I hold real estate events in person I just did one in New York City Chicago Seattle I have another one coming up in Austin Texas San Francisco Miami you're welcome to come to those but really what I want you to know is every single objection that anybody brings to one of these events I have solved before the reason I say I've solved the objections before is because I don't just talk the talk I have helped take people as a real estate broker from no net worth to owning multiple rental properties and building that worth fast by buying these below market wedge deals having done it gives me the experience to know it's possible for everybody no matter whether you're starting with 0% down as a VA where you're getting downpayment assistance to get into your first 3% conventional loan with no money out of pocket or you've got 10 or 20% down you know I think one of the biggest wealth mistakes people make is they focus on the smaller dollar they focus on that thousand dollar raise they focus on putting $50 in index funds every month they focus on saving money on a latte or not being able to treat themselves to you know a lightsaber or even a trip to Disney or a toy for their kids whatever I mean even some of the smaller dollar stuff if you play with it for a bit and you donate it look I'm not saying be frivolous but you got to live life - right and so that's why I'm so excited about real estate because real estate gives you that opportunity to do what I call focus on the larger dollar focus where you can make the most money put as much attention and learning into that as you and stop learning about five ways to save your way to a million dollars learn about one way to make yourself a massive amount of money faster and I mean just to reiterate if you're asking yourself well I don't know if I can find below market real estate I don't know if I can buy real estate in my area it's too expensive or there's too much competition earth to this if flippers are doing it I guarantee you you can make it happen as well because you don't have selling costs that's gonna go into your net worth and we'll show you ways to never pay taxes on that now there's one more objection people give for not buying real estate and that's being uncertain how to renovate or how to get those deals on paint and carpet how to do the right thing to make sure you're not over and proving and overspending because after all that's a common problem as people overspend on a real estate which ends up costing them more money and that's why we sometimes refer to a home ownership as home broker ship because people just end up getting broke spending money on crap they don't need well the nice thing about real estate is there are professionals that help you for free when you're a buyer now some could argue it's built into the economic value of real estate but the bottom line is when you're a buyer most real estate agents are actually paid by the seller and the loan fees are oftentimes built into the loan and there are ways to buy a house with no closing costs by taking what are known as negative discount points so the idea that there's too much competition and that you're not going to have any help there's not one that should stop you because they're both solvable so the next thing people oftentimes want to know is how do you graduate how do you get from doing small deals a single family that duplex the triplex the four Plex how do you go from that to doing big deals whether they're hotels or commercial or multifamily real estate how do you get to that level well the way you do that is just like this first you start with a small deal by helping you get around going 5% 10% 20% down on your deals you build a net worth that might take you five 10 20 years depends a little bit on market timing - there's no rush though once you build a net worth that you're comfortable with you have a couple options one you could start paying down like crazy this is why initially I recommend the 30-year fixed-rate loan don't pay anything down yet while you're in that growth then you could sit pretty and just milk the assets you have or you could take the assets you have and use them as collateral to help you buy big deals think about it this way have you ever looked into like a 32 unit apartment deal to consider buying something like that and then you see what wait a minute dang it this 32 unit deal this is like five million dollars that means in order to buy this I need two million dollars is a down payment but commercial you usually need somewhere between 35 to 50 percent as a down payment where are you gonna get that money that's why you start with the small deal then you go big and that's exactly what I've done and that's the story of how I became a millionaire through real estate and eventually we'll get to the billion dollar mark keep watching and I'll show ya promise think about it this way for a moment once you're ready to leave that magical place of YouTube University maybe it's time to pick up the phone and get in touch with a local real estate agent to help you make it happen get in touch with a local lender to help you make it happen I'm not asking for your business yeah I have a real estate investing course but you can take information from this video obviously there's a ton more in the course but think to yourself once you pick up the phone and make that first purchase and real estate you get what's known as the real estate bug and then if you keep in mind this very quote you'll have no trouble getting to that twenty million dollars in real estate and this is the quote I use to keep the blinders on don't wait to buy real estate buy real estate and wait and then never sell real estate the way to buy Lyndsey pots
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