저자: Kevin · 외국인
요약 보기
강사 Kevin은 Brian과 Sierra가 FHA 대출과 계약자 협력으로 무자본에 가까운 조건으로 주택을 매입해 203K 리노베이션을 거쳐 임대 및 현금흐름 자산으로 전환했다는 사례를 소개한다. 12단계로 나눠 대출 상담, 저평가 매물(wedge) 매입, 리노베이션 비용 배분, 백업 전략(룸 임대·직접 거주·매도·부업 활용)을 설명한다. 매도 시 주택 양도 면제 등 세제 효과와 예상 임대수익을 근거로 제시하며, 강의 등록을 반복적으로 유도한다.
다듬은 글
What's up everybody? Meet Kevin here. I am tired of hypothetical examples of deals on YouTube. I want to see the real stuff. So, I reached out to course members and found Brian and Sierra who bought a house for $210,000 in Utah, spent $60,000 on renovations, and ended up with a $330,000 property with a zero money out of pocket.
And today, in 12 steps, I'm going to show you exactly how they did that. Let's get started. Look, here's the thing. So many of us want passive income. So many of us want cash flow. So many of us want to own a lot of properties or a lot of companies or whatever. But guess what most of us do when we have no money.
We're too fearful to start at doing anything. Well, now is the time to listen to all of these 12 steps because they're going to blow your mind and I'm going to show you exactly how you can build passive income with real estate. And I'll show you how Brian and Sierra are now going to be cash flowing on a deal they literally put no money into.
This stuff really happens. Let's go talk. Look, so step one is you need to acknowledge that unless you already have a ton of cash, you're not going to have passive income from real estate tomorrow. But what you can have is an opportunity to start building wealth immediately. So, step one is get over the fear and get into the game.
Listen to the rest of these steps and ask yourself, how can I begin to accomplish success in real estate? Step number two, you need to get over the market fluctuation theory. That is the theory that oh my gosh, well, if prices shift or change a little bit, then then I don't want to be a part of real estate.
You need to get in. Let's say somebody went to you and said, "Hey, I'm going to give you this gold ingot and you need to pay $1,900 per year to service and secure and make sure that this gold ingot is safe." You might be thinking to yourself, "Oh my gosh, well, where am I going to get $1,900?" Oh, but wait, you can give that gold ingot to Chase and they're going to give you $2,200 a month for it.
And you're thinking to yourself, wait a minute. All expenses in, 1,900, I'm going to get 2,200, that's $300 of cash flow. And at that point, you wonder, well, that's not a bad deal. I mean, I'm just holding on to something. Do you care if that gold ingot goes down in value from, let's say, $210,000 to $180,000, $190,000, $150,000?
Probably not, because you're still getting the $300 a month. You're protecting yourself holding that gold ingot with cash flow from market fluctuations. So, this is where once you really realize the potential that real estate could give you to make that example a reality where others aren't seeing that reality, then you get over the mindset challenge of A, you start, you get in, or one, you start, you get in, and B, you get over the market fluctuations.
You get over that fear that's keeping you restrained and keeping you from doing exactly what Brian and Sarah did. Number three, folks, I really want you to do this now, because this so many of us, it's like, we want to be millionaires, but we won't even pick up the freaking phone to do step number three.
Step number three, call a lender and have them run your credit. Don't be that person that's going to start shopping lenders, but oh, no, no, no, I don't want to commit. One foot in, one foot out. I don't want you to run my credit. You're going to get back burnered. You're not going to actually be able to get your action steps from your lender, because they're not able to look at your loan portfolio, your credit portfolio, and that you're really just not getting into the game, because lenders don't want to waste time on people that ain't serious.
And if you're not getting your credit run, then you ain't serious. That's the way it is. Now, you might be wondering, oh, but I mean, I don't want my credit score to go down. Here's the thing, you really don't need such a high credit score like you think you might. People think, oh, I need an 800 credit score to buy a house.
People buy houses with 600, 640 credit scores. You get the optimal pricing, it is true, at 740 to 760. So, if you've got like a 780 or 800, who cares? Let them run your credit. And if you've got something lower, whatever. Let them run your credit. You get the knowledge that you need so you can figure out what action steps you need to get in the game.
You want to be a millionaire You want to be a millionaire? Get started. Play the game. Number four. Number four. Number four, folks. You got to get with a pro real estate investor. Guess where you can get a pro investor for free to help you and mentor you. A real estate agent. Look, you can join my course and get mentoring from me and get a lot of knowledge and guidance that you will probably not going to get anywhere else.
Woo! I'm out of breath from that. That must mean I'm out of shape. Just going to lie down. Woo! But the bottom line is you need to get with an agent and stop thinking you can do everything yourself by shopping Zillow or going to open houses. You need a pro that also plays the game because they're going to get you the deals and the connections.
Folks, up to this point, what have you had to do? Nothing. You've had to pick up the phone a couple times to find people in the industry that also invest in real estate. You've had to shop and ask for some loan options. I haven't really told you to do anything other than change your mindset and get in the game.
Get started. Well, number five, this is really where the Brian and Sierra topic begins. This is my glove, buddy. I really want my glove. It's cold out here. Number five, they bought a house using an FHA loan which allows them to buy with just 3 and 1/2% down. And guess what loan program they found out about because they went to their lender and got the information they needed.
They ran their credit. They qualified after running for their credit for a down payment assistance grant. This covered their 3 and 1/2% down. So, when they went to put 3 and 1/2% down on $210,000 and then had about closing costs of say $5,000, they got a grant for that about 12,000 something dollars to buy the house with zero money down because they committed.
They had the mindset. They picked up the phone and they got in the game. So, we did a 203K Nice. Tell me a little bit of how how that was. Um there was a lot to it. Yeah. Yeah. but we met a lender that had a relationship with a contractor contractor and they worked together really well. Perfect. Yeah.
We didn't put any down. Oh, you got your down covered, too. By the step. Step six, Brian and Sierra bought a house that was in the wedge. A wedge deal. We talk about this in the investing course all the time. Buying properties that are in the wedge, that have disparity pricing, something wrong with it, giving you a lot of an insulated blanket.
It's kind of like you can put zero money down, yet still in practice put 20% down cuz you're getting a good deal. There are tricks to doing all that. So, because Brian and Sierra got a little bit of a fixer-upper wedge deal, they decided they wanted to renovate. Now, they could have combined steps six and five that I'm about to talk to you about.
But, this is a real example, so let's give it to you straight. They did a refinance and they did what is called an FHA 203K refinance. This is a renovation loan. And what they did is they went to the bank and said, "Hey, we think our property is worth between three to 330,000 dollars. We'd like to renovate it.
Would you mind if we borrowed, say, 60 to 70,000 dollars so we can finish off the basement and renovate the property?" What does the bank do? The bank does two things. One, they send an appraiser to do an as-is valuation and two, they send an appraiser to do a fixed-up appraisal. As long as those numbers align, the bank will finance the deal.
And they did in this case because Brian and Sierra used a professional and bought the deal right. Buying the deal right is so huge. What are you doing, my friend? It is sunset. It's like the wolf is coming out in you. As soon as bites just going to go right through my glove. What made the entire process a lot easier for them was again, not resorting to Google, but having a good quality lender that had a reputation and had a reputable contact in the construction industry and had connections with HUD representatives to make sure the entire renovation process was streamlined for them and they had to do very little other than pick the renovations they wanted.
So, number seven was where did they spend the money? Well, remember, when you renovate properties, something we really talk a lot about on our private live streams four times a week, is when you renovate properties, the last thing you want to do is overspend on stuff that you really don't need, that expensive cosmetic junk.
So, what Brian and Sierra did is they spent money with their renovation budget on creating value-add opportunities and your 808 square feet is just the top. Yeah. Oh, that's awesome. Okay. So, we're we're like 1,600. So, this here, when we moved in, was um uh just a stupid corner closet. Yeah, because this was a basement.
I mean, it looks like part of your house. half that was finished. This is like a guest unit now, you know? Wow. Oh, so you you totally created another full bedroom and bathroom of the basement. This was all concrete. Wow. concrete and then we got these built-in cabinets. Oh, these are nice. Oh, this goes under the staircase.
Yeah. But now it's functional in your room. They're our IKEA death stars. Oh my gosh. That's amazing. Wow. bucks, so I don't know. I love it. They not only created rental and cash flow opportunities, but also increased the effective life of the property. They spent money on a new roof, driveway improvements, they spent money on a new furnace, new air conditioning, and the biggest thing of all, they renovated the entire downstairs to have a finished master suite with large oversized bathroom and a downstairs living room and kitchenette.
So, if they needed to, that could always be another rental, right? But we'll talk about that more later. Okay, with your 203K, you did the concrete here, the roof, windows? Uh all windows, yeah. Oh, this is great. Look at this vaulted ceiling. This is amazing. And you One thing we did upstairs we didn't do a whole lot upstairs.
This came out to right here. Uh that classic like narrow entry that you have to kind of swoop around. That in the very first house my wife and I bought the and we did a 203K on, we literally did the same thing. It was like a 4-ft pull back. And it just because now you're in. Yeah. That's that's awesome.
So this was just a wall. This is beautiful. Look at that. And we had a half uh This is custom, isn't it? For the size. Because again, it it gives you actually more space because it gives you that impression that the room's bigger. This No kidding. This is amazing. And And you did the marble here, too.
Yes. And we have the double shower, triple shower, actually. But see, where did they spend their money? Not on some kind of fancy Brazilian hardwood floor or whatever. Instead, on things that really increase the long-term functional lifespan of the property to make this a killer long-term hold. That's my shoelace, buddy.
I need that. Oh my gosh. I'm stuck. What are you doing? He's got me. It's a wolf. Eight, is you got to know your backup strategies. And there are four big backup strategies that Brian and Sierra have really internalized. The very first backup strategy is if they needed to, they could choose to live in that downstairs basement and rent both of the upstairs two bedrooms since it was an original two-bedroom, one-bath house upstairs with that unfinished basement downstairs.
They could rent the upstairs rooms for about $500 each, live downstairs. Now all of a sudden they have this $1,650 payment, maybe with repairs, vacancy, things like that. We'll call it 1,900, management, whatever you want to call it. And they have a 1,650 payment, $1,900 all in. But if they're downstairs renting the top for a grand, all of a sudden their payment is effectively $650.
and they're still getting the benefits of paying off the loan, the tax benefits, and appreciation on the property. But, those aren't part of the backup strategy. Backup strategy is always trying to keep your costs down. So, now when this turns into a rental, it's all done. What's going to go bad? The roof is new, the windows are new, the furnace is new, AC's new.
Exactly. This is all brand new. It's ready to go. Zero out of pocket. I can't get over that. That's amazing. it and we weren't even thinking about that when we did it. Yeah. And when we came across your channel and I was just like cuz I'll tell you what Yeah. And I was preaching to her cuz I was just like I don't even want to deal with tenants ever.
It's just a pain cuz I've done it before. And then I binged your videos and that's when I bought your course and so now we've made that mindset shift and we're going to keep this place. Good for you. Um and we accidentally made it super rental ready. Yeah. Option number two is they could choose to move if they needed to.
Say there was a job loss or something really changed and rent out the entire property and rent something cheaper. Rent the entire property out for around $2,200 per month, kind of like the gold bar, leaving them with a nice cash flow. Option number three, they could sell and just be done with the headache.
Option number four, they could do something Brian and Sierra are already doing. They could use part of their property as a side hustle business. So, what do they do? They walk and take care of dogs on the side, generating another $2,000. Yeah, it's active income, but generating another $2,000 per month of income with their side hustle, now they also get to write off part of their house as a business expense.
The point of the three showers is like, well, there's a third head that we can wash dogs with. Yeah, absolutely. a business expense. We wrote off Yes. Yeah, and keep in mind nothing was here. Nothing was here. Oh, that's right. So, you had all the ability to route through the walls because it was bare bones.
Think of these as four backup strategies. Okay, cool. Oh gosh. Oh gosh. No, this isn't fair. This is not fair. I'm trying to talk about number nine here. I tried to get to number nine. Ay, ay, ay, ay, ay. Okay, number nine is internalizing and this is Number nine is internalizing and remembering that your goal is to try to replace what you're paying in rent.
So, somewhere you're paying somebody else rent money. And when you do this strategy, you're replacing that as well. So many people forget that there's a cost to play the game. You got to put up a little money and you got to stop paying somebody else's mortgage. Because remember this, most successful real estate investors who say things like rent where you live and own what you can rent own the property they live in, too.
Number 10, Brian and Sierra know that if they decided they wanted to sell the property, they could take advantage of what's called a homeowner's exemption. That's $250,000 per person that in capital gains they might not have to pay taxes on if they were to sell. Now look, I'm not a CPA. I'm walking through trees that look like it's Christmas at sunset with some random dog in a bark collar chasing me around.
So, don't ask a CPA. I ain't a CPA and I can't give you tax advice. But, if they wanted to sell this property, they could probably clear, after selling costs and after everything, about $80,000. And remember, what did they put up for this deal? Zero. Number 11, well first of all, thanks for making it this far.
If you haven't hit that like button yet, that's kind of cool thing you can do. Subscribing and smashing the notification bell is cool, too. Then there's always buying a course, how's that for plugs? All right, cool. Number 11, a lot of people don't know this. You're going to use the projected rental income on the property that you're moving out of to help you buy your next property.
Let's see how that'll work. You're going to be loyal to your agent and your lender that you've been using that have been helping you get good deals. You're going to find another great deal. What you're going to do is you're going to tell your lender, "I'm going to keep my first house. Let's use projected rental income I'm stuck to buy the next house.
So, here's what they do. They'll say, "Okay, we think we can rent your place out for about $2,200 per month. We're going to be a little conservative cuz we're a bank and that's what we do. And we're going to say you can get after expenses maybe somewhere around 1,700 or $1,800 in rent and we'll give that to you as projected income.
Now, all of a sudden you can use that to help you qualify for the next property. Now, folks, let's get to step 12. Let's get away from the little doggie here cuz I think they need to go home cuz it's bedtime for him. He's getting a little cranky. Step 12, folks, this should come as no surprise to you.
I want you to repeat the process. I want you to do this over and over again. I want you to internalize what it means to be a successful real estate investor by going through these 12 steps and taking or having the courage to pick up the phone, to call the lender, to get with a pro, to finally overcome that knowledge gap that you think you have.
Maybe that means you're going to invest in the real estate investing course where I can analyze your deals privately and help answer your questions, to help guide you, and I'll even work with you and your agents to help you figure out Hey, it's a free second opinion for you. So, here's another last tip for you.
If you really want to embark on this, the very first thing you should do is download a picture from Google. I don't care what it is. Let it be a cartoon house and tape it to your fridge. Take a little Sharpie and write on it a date. Six months from now, you're going to own a property. If you don't write 6 months and you choose to write something like two, three, or four years, guess what?
You'll never do it cuz you'll never save the right amount of money to get there, you'll never pick up the phone to call the lender, you'll never call the agent, you'll think, "Oh, what if my pre-approval letter expires?" and all this nonsense that really doesn't matter. Instead, you pick up the phone and you get to it right now.
And you put that poster on your refrigerator, have faith, you're going to make it.
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