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over two million dollars of my real estate is vacant and today we're gonna do a tour even though we're supposed to be on quarantine this is considered essential because I essentially have to get these properties rented so it's gonna be a little bit more of a raw block but you know what then you're gonna get some raw insight into real estate so uh let's go ahead and hop into the Tesla and get going all right let's go let's go ahead and start at the worst and work our way up this video by the way was inspired by all of you I ran a community pull and asked what y'all wanted to see and you said you wanted to see some raw real estate and have me rant about problems in real estate alright if you want to see some twenty eight year old dude on the internet complain about real estate I'd be more than happy to be the guy for the job there is plenty to rant about it's very profitable ranting but I can definitely rant a lot so let's get started alrighty welcome to house number one so the last real estate update I gave regarding properties I actually had to do with this particular house there were people that didn't move out when they were supposed to and had to do some negotiating to basically get compensated for the mess that all worked out in my favor was fine watch the video you could see the whole negotiation there but yeah what I'd like to do now because of this whole thing going on is I actually before I go in these properties on weekends I don't go there during the week because too many people are there and last thing I want to do is get Lauren sick that's why I go to the grocery store all suited up but for something like this where somebody shouldn't have been here over the last two days I'm just gonna take a respirator and some gloves and we'll make sure nobody's in there first and then I'll talk to you about it by the way on the outside of the deals something that I always like to mention is get all the crap cleaned up first it's a nice way to get the neighbors off your back to kind of signal hey don't worry I'm coming in to make things right and speaking of making things right Here I am standing wondering why that post looks crooked and rotten as anything another project for me to deal with this by the way is an example of a roof that sucks this roof is on its last leg this is probably the worst roof I've ever bought take a look at this thing up close look at this piece of shingle right here there's almost nothing left on it I guess today I'll actually be a good tale to see if the roofs leaking and just poured find out all right let's glove up get the door open make sure nobody's inside and then we'll take a little tour by the way it might be worth noting that the day after I closed escrow on this place I got a really friendly call from the neighbor over here and they said hey yeah congratulations bro you're the new owner cool hey just FYI this wall is a to feed on my property nice little welcome to the neighborhood first thing I said was oh no hey you happen to have a professional license survey that shows that oh no well then I don't think I'm the one with the problem I'm gonna go in with a mask just because if somebody broke in I don't want to deal with them without a mask on and I will deal with them I mean have you seen have you seen what I'm armed with here hammer clean hey y'all think this place has termites whoa you use this to check my corners all right so welcome to vacant real estate number one this is an example of my most recent wedge deal probably actually what am i worth but after I spent about $40,000 on this with pre Corona pricing the property should be worth $100,000 to $120,000 more which you know I have to say that's the nice thing about buying places below market value is in case there's a crazy pandemic and values go down at least you've got some insulation but let's see what we're actually dealing with this place yeah that's gotta go that's pretty funky which then I got to think into I really want to close this deal with this pandemic happening and I thought properties are really gonna have to drop about 20% for me to break even which even though I don't expect that to happen it could happen but I'm okay because if I buy a stock today and it goes down 20% I'm down 20% i buy this place and it goes down in value of 20% I'm at zero so not too worried about it I'm relatively insulated but you know I know I'm gonna get comments going rude about who's gonna drop 40 percent or 50 percent fine stay on the sidelines forever I'd rather try to continue to use my expertise and make money but anyway properties like this I've got a pretty good script for so for me it's pretty cut and paste I almost do the same thing every time in my property management in my rental renovations course I talked about how there are three different levels of renovation and depending on what kind of renovation you're working with you do a certain set of work you follow sort of a certain schedule and I post a lot of update videos on things that you know when I first walk through a property what I look for that's in those programs but we'll walk through some of those right now like for example me I'm looking for how salvageable are things in the property I here look at these cabinets and I go it's a bummer that they're all scratchy like who does that who scratches cabinets up like that it doesn't even make sense a lot of sort of damaging it's on this thing I'm gonna need a little repair a lot of repair actually these are a little rough these are definitely in more rough shape than I would have liked we actually just replaced this piece of lumber right here to repair this nice little block here also replace the plywood down here really cleaned up this area so we're getting started we just started work on this so it's gonna be a fun one to finish but yeah this this is kind of a little bit of a dirty one I think there were like three or four different roommates living in this place just one of the reasons I'm not the biggest fan of roommate situations no no no what do y'all think about this fireplace it's a little large when you come in but honestly I don't know if it's gonna sense to tear it down or well not all of it I would only maybe like shave like half of it off like you know if you're standing over here maybe take off the three feet on that side kind of even it out a little bit more but I don't know if it's necessary because you know what happens every time I do that the people who demo the brick they're like Kevin Kevin I did a great job I demo it all the brick well then I go outside you can't go through that door I go outside and I find a bunch of holes in the stucco which stucco is a pain to repair I mean little holes like this nobody's gonna notice but you know little divots like this is pretty much exactly what you're gonna see every time somebody's swinging a hammer over there all right there we go look at that that's frustrating you could really only fill so many of those patches before things start getting nasty I'll show you the rest over here though so we got see they actually put this flooring in but it's too many types of flooring for me you know I'm really picky about flooring because I want my tenants to feel like they're living in quality there we go that's better so over here you've kind of got this older 90s Miami style white phial you got this newer plank flooring over here and then the bedrooms they had carpet I just don't like three types of flooring it's too much for me the bathrooms have let's see yeah and then a different tile in the bathrooms no thanks it's got to go this tile actually wrapped around this entire wall out here and we chopped it off right here and finish this edge nicely so that way when we glaze this tile white everything's gonna look a lot more finished but we just drywall at the wall behind me it doesn't need tiles coming out of here so I mean look at the tile that's had before Wow look it was under toilet ah so I just realized the plumber removed both toilets Jay I don't like it when they do that I asked them to reinstall one of them because every time they do that people start going potty where they're not supposed to be going potty oh they got a separate alarm thing over here let's deal with that right now see look at this the drywall guy does all this work texturing the wall I tell them to take this crap off now he's got to blend this in so I got a column back to blend this in otherwise we're gonna come in there's gonna be this beautiful eye level patch of wallpaper right here I mean the wallpaper won't be there but when they go to blend this in and just won't look right I come back for that they see and it's funny because they all know that I call them back I think they sometimes expect me not to look oh but I look I catch all of the tricks having been a licensed contractor kind of start seeing the same crap over and over again like honestly you should have really scraped this crap too I have them come back scrape in here at least clean this furnace closet up a little bit mud the edge that's just the dumb piece of drywall this is sitting on I don't mean I think they seal this edge appropriately this is a joke ooh gotta write down that filter sighs every time you see those filters write it down before they go missing 14 by 24 by one mental note to self all right clean that crap up what is this a funky attic access right here like patched up dude come on bro fix this crap get back here and fix the crappy holes you didn't fix now this is usually the point where I get a bunch of comments and people going see Kevin see Kevin this is why I buy stocks I don't have to deal with the drywall are not pounding the walls seriously dude it's not that hard to take a picture of this stuff and send a text to him go bro come back and fix your crap oh we gotta get that satellite dish gone nothing's nasty I'll check with the roofer make sure he gets rid of that bunch of termite rot ok so there's there's enough stuff to do here this place looks nice though look at what this looks like compared to the before this is what I like I don't love that patio cover but I do say I love the neighbor's backyard well it's a nice looking backyard I think you build their own new fence all right I'll see what appealing paint how some wood how's the lumber doing here let's see what we got it's actually not terrible at split that's not wonderful look at this the screws are rotted away they built this with it looks like drywall screws so it's you know this is one of those houses that was built by a wall all these modifications were done by like a do-it-yourselfer or something like that my most least favorite I don't know if I order that great my least favorite house to buy is one that was built by an uneducated do-it-yourselfer those there's no way those are the correct size nails either they put some cheap loser little nails in this and not the construction common nails that are supposed to be in here this is not a good build this thing is gonna fall down in an earthquake unfortunately if I remove it I'm stuck with all these holes on the floor see because the way they built this is just unacceptable look at this crap undersized nails the wrong material being used with the wrong product I could go on I'll go ahead and fix this stuff though so it's safe this is the kind of stuff though that I release in my property management course for example I got a lecture coming out on exactly what type of nails should be here or what type of screws should be here and how to identify if something's wrong funky open Junction on this property without even any kind of weather proofing this is sad and that's the kind of classic do-it-yourself or kind of crap that gets people in trouble look at this pathetic see honestly that's not making me question the dual pane windows we've got to obtain windows but if they did a crappy job installing them what good does it do you know but oh well copper plumbing a funky power strip right I don't understand this yeah that's alright probably replace that to this I actually took the cover panel for this off and brought it home just so it wouldn't get lost because it was just taped on see here's an example of a good looking roof these people spend money well that's one way to secure a door so now y'all know when I'm not YouTube and I'm renovating this stuff fixing the stuff up we got over here just put these doors in probably a fever right now these two panels beautiful stupid electrical boxes they're probably had an office in there and rented this room out oh yeah yeah now it's worth mentioning that I always say look around at your neighbors and see if they're upgrading and man curing their properties if they are it's a good sign you know you kind of want to look for those properties and this is often times where you could get the best wedge deals it's where everybody else is spending a ton of money over and proving and over upgrading their places new roofs new windows pools landscaping hardscaping is xeriscaping whatever right that's good those those are the neighborhoods you kind of want to go looking at and usually you could spawn out the ones that haven't been super well-maintained like I'm not loving this one right here but yeah it's got to wait the body of the car is off the charity all Drive buy that in a second but I mean look at this this lot of money they probably spent 20 grand on rocks out here it's insane Why What how much more in rent is that place gonna get because it has matter I mean this is beautiful don't get me wrong but wow this is nice I don't think that roof color really matches that paint color but this is a nice one very nice job lots of nice real estate right here I like being around nice real estate this one almost looks like they had it on this is nice oh look at that the pavers the Warhawk work the dual pane windows the newer roof the new garage door nice light fixtures nice landscaping my goodness when he got over here you know it's got decent lansky a little little neglected over in this spot but overall nice roof you know maybe 10 years old but still dual pane windows newer concrete no we're retaining wall just stuccoed I mean this is good compared to this is bad this is really bad I had not seen this one yet so this one's got a tarp maybe I should buy this I see this is the one you want to buy it's got a tarp over the window it's got those the funky kind of a/c that's cut in with plywood look at that fat ugly conduit right there that doesn't look good like paint at the same color landscaping is actually not horrible but they got an RV they got one two three four five cars outside you know this house is full of roommates that is a lot that's a busy busy household so you know there's a ton of wear and tear on their children's rocks okay so roof is older this would be the one to buy right here and then look at it cables coming out of the Attic this one's money right here I mean compared something like this where when the house is rented to multiple tenants does something manicured like that something somebody really cares about those are the kind of things that I want to give my tenants that surrounding neighborhood all right let's go to the second house hopefully this doesn't sound too basic I was actually thinking about doing oh look at this I mean this is cool though this doesn't make me think it's as bad it's like a rusty bucket that's just been abandoned it kind of makes you think they're still working on it but it looks pretty cool when they got a dog but you know something that I was thinking about doing was releasing some sort of introductory to real estate maybe like you know basic introductory video on the channel here maybe even just a streamlined like 10 lectures in the investing course right at the beginning like here's the first 10 lectures or just the A to Z preview and then detail or maybe kind of an overview video on YouTube and then the detail and the course or something like that I don't let me know if you'd be interested in something like that let's go ahead and drive on over now to the hoarder house and show you the before and after that one by the way some of you oh gee folks might remember that I used to use the Pelican rifle cases to store things and I've upgraded to these big old pelicans maybe I should do like a gear breakdown video one day but I don't know if you guys care about gear you know I ran my pole and most y'all said you wanted real estate so hey no giving it a real real estate but gear and storage is kind of entertaining too to me by the way I do not believe that I have mentioned yet that if you deposit just $100 with weeble in their stock trading platform you'll get yourself two free stocks valued up to $1400 I cannot wait to show you what the hoarder house looks like after it's insane here we go this is the before a 3d virtual tour of this hoarding house which by the way if you want to see the entire virtual tour you can watch this other youtube video where i review 3d matter port scanning technology how to do these virtual tours and then you'll actually be able to see the entire a virtual tour between these two different cameras and great video you should check it out but in the mean time here you go this is the before oh and if just in case this is an entirely evident yet both of these properties were just acquired so it's not like a tenant left me they just happen to be vacant at an inconvenient time this is it I've only been working on this for about three weeks now the clean-out took longer not because it needed to take longer but I was giving a lot of things away to charity I actually did a whole event out here inviting anybody who wanted to have free stuff off Craigslist over here and we kind of had whole Craigslist horde of people coming through here gram showed up and ended up getting a free coffee maker he must have seen the Craigslist ad but yeah wow I mean compare this front now to what it was my gosh hello social distant social business so as usual I like to do all my landscaping last I've still got to paint these roof kind of protrusions the pipes they're gonna look a lot better painted we got over here gotta get the plumber out here to fix that stupid gas valve that's leaking we got our quick set smart King we got our light fixtures in that we like the 14 dollar ones look at those yeah all the property management course members have been loving those yeah guess I forgot to buy the doorbell that thing's still here but now I shouldn't be in this one long without a mask because well let's just say they're scraping up some asbestos right now but given that nobody's been in here for a couple days I'm sure I'll be fine as long as I don't look back at this video in 60 years all right let's go stand that like who who in their right mind wants to keep this and I don't even think he thought I was going to keep it given that he sprayed the edge of it so obviously this project still has work to do but here's just a quick kind of run through of this you see I painted the cabinets I did my favorite work to it we cleared everything out we did the fireplace we glazed the bathroom and overall we started working on finishes like the door handles and light fixtures couple more light fixtures that's good but a little bit of detail on this place I bought this place for $450,000 while I was in Disneyland we were actually on our Disney Cruise and this opportunity came up so I bought it right oh my hey this property I did not get a loan on which it makes me feel a little bit better especially with the time we're in now this is a nice emergency fund you know even if I had to liquidate this which I don't have to it's still like a $670,000 emergency fund today if I sold it which is cool because after I fixed this one up this is like $160,000 wedge deal this is a really good one so this one would probably have to drop in value over 30% something around 30% for me to be break-even hub test which is a really good buy and you know this really goes to show that if I've got three renovations going on right now on all three great wedge deals you can get a good wedge deal too in your area you just got to follow the principles of getting the wedge deal and you'll find it you know I think a lot of us get distracted by reddit posters who say things like oh well if you're in a high cost of living area you should go to Indianapolis and if you're in a low cost living area well then you should also go to Indianapolis it's like there's no one-size-fits-all policy for real estate other than buy a below market value but the way you do that varies and those are all strategies we talked about regularly so let's see here not just about the brushed nickel hinges especially since they've been painted after play says wow the painter screwed this door up bad he's gonna have to sand this door down that's nasty I wonder if one of his helpers did that that's I've never seen it that bad look at those drips not too worried about that as long as my cabbies are okay let's see oh yeah these cabinets are good I get so angry if somebody messes up my cabinets oh there's the doorbell they didn't install the doorbell I won't touch it because apparently the RO nut can survive on this stuff for a while alright turn that into a door jamb got rid of that door all these doors were already here they look pretty good look at the before and after though on this bathroom I mean we're never done the vanity yet so that do that that's alright though I mean this nice glazed tile looks incredible gotta get the plumber out here finish out on their valves although actually they've already done the valves the valves are out of your place oh good job yes yeah because I sent them in first but sometimes they don't listen to me and then I'll come so that's good hi another trip here the painter got a little lazy at some parts of this plumbing over here obviously got a rip all this crap out and throw in some nice fiberglass yeah yeah it's some work to do over here but nothing that can't be fixed and even closed off that door so now we've got an official master bathroom rather than two stupid hall baths I've never understood that why would I want to haul bats I don't need to haul bats they need a master bath so that's what we got now but yeah not bad this is actually the house that Jack and I came to they were poking around for termites Jack what are you doing you're finding termites okay Oh termite poop okay yes so then of course we've got the sideboard going up around the garage pretty much all of the trim board around the garage I think this is pretty compromised as well you'll see in different spots you can see we've been working away here at looking for the termites for you by the way right here is where all that termite damage was you'd actually see it's all been nicely patched up the woods been replaced so looks really good that's why I love real estate you know thinks I look big and scary can pretty easily be solved that's why it's like a gold rush of a money grab out there right now although too few people think they can do it and I think if I could do it at 19 anybody can do this stuff it's not that big of a deal personally I think this is quarantine insurance if I get stuck inside and I can't even go out as an essential service anymore I would just sleep over at some of these fixer-uppers and fix them up myself so you know it kind of gives you a backup job now you know I get it I hear regularly like no but Kevin yeah gotta have an emergency fund you just got to get your first 10k in cash then start saving your 20% down payment blah blah blah blah blah all that crops antiquated my opinion the easiest way to start is buying below market value real estate using the that you can buy something with three and a half percent down kids over here will social distance and go this way see the way I look at it is the bigger I grow my investment portfolio the more of an emergency fund I have because even if I have to liquidate something at 50% off because I spend the bull run period of building a large portfolio I build a massive safety net as long as I'm not taking money out and constantly speculating that's that's when it gets dangerous but I think about it even even if actually I'm I'm still up on my Tesla shares I think I'm up like fifty thousand dollars on my Tesla shares which is awesome even though I've been dowel or cost averaging down I think my basis is somewhere closer to four hundred dollars but even if I was upside down on my Tesla shares even if I lost thirty percent on my Tesla shares they went back down to like I don't know three hundred or something like that I would still have a bundle of money there that if things just went so bad and it was either file bankruptcy or liquidate some shares at a loss at least they can do that now earlier today I was I was this close to buying a Dyson vacuum for $399 freaking close to pulling the trigger I'm like it's basically five-star review it's awesome and I'm at the checkout window for Amazon all I had to do was swipe and I would have spent four hundred you know fifty dollars or whatever with tax for a Dyson vacuum cleaner that I'd use what maybe once a week and I didn't because I was looking at that swipe and I'm like wait a minute I could swipe on Robin Hood and buy myself almost two shares of Apple what would I rather have a Dyson vacuum that I now have to mount to the wall or two shares an apple I'll take the two shares of Apple so I'll be buying some Apple shares when the markets open tomorrow but in the meantime I bought myself a $29 four star reviewed vacuum because I'm looking at it going dude even if it only vacuums for three months put my money into an investment then have it spent on stupid things that don't generate any additional value my carpet isn't gonna know the difference between 85% clean and 95% clean with a $400 version uh well this really sucks there's a plumber in my last deal I can't go in there without pissing Lauren off to the next level but uh welcome to deal number three that we're gonna look at today oh yeah they're inside they're hammering so let me show you really quick on screen the before of this house look at the after here I mean it's beautiful it's the cute house right everything I'm really proud of how this looks outside Oh take a look at this so this is mine this one looks pretty nice look at it that's pretty nice this one's pretty nice dual pane windows new roof dual pane windows new roof dual pane windows new roof that's actually my comp right here that's my best comp which is good you don't have to go far that one looks good this one needs a little bit of a weed way but still looks pretty good hello that one's got pavers siding man this is a great street nice dang it well there we go got my emergency backup Tyvek that's I gotta break out now not happy about this but I need to check out the place cuz it needs to go up for rent ASAP so uh let's suit up this isn't what I would take to the grocery store but for now it's what I'm using alright what's going to heads up if you like this kind of before-and-after stuff let me know in the comments I do a ton of this kind of stuff in the property management course in fact I've got lectures aligned up to be released shortly as showing the full walkthrough of every step of dealing with contractors on this property frustrations I had to deal with problems that came up and how I solve and prevent them so that way I can help you save a lot of money use that coupon code down below start with the zero 2 millionaire investing course then you can always bundle up to great great way to get my entire brain on a platter it'll save you thousands I take your hand oh yeah no words can you replace all that make it nice tomorrow's fine you're working tomorrow yeah deal man perfect hey appreciate it thank you good all right time to go I don't want to talk to anyone and they sort of leave look don't get me wrong I mean I like talking to people but with Lauren's asthma I don't want to bring anything home so I'm gonna have to strip this off hop in the spa rinse this off hop in the shower decontaminate all this crap plumber had to be there well you know what I always say number one if you need more money figure out how to make more money and then spend all of that extra money on investments so I teach my money course my investing course spend on investments and thank goodness property maintenance is considered essential so the roads are dead I have to suit up which is a pain in the butt but I get to bring you a little bit of real estate content s]
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