I was able to purchase a condo at the age of 25 for $540k. I stayed in it for 4 yrs. Invested my money in other things and now I'm able to purchase a home while renting the condo out. Win win. Invest in what you can afford and what you are comfortable with. Best of luck to all
@Abel-Alvarez
2 жыл бұрын
$540k? Damn bro you in NYC or something?
@youtubecommenter1000
2 жыл бұрын
540K?
@andrewliang4112
2 жыл бұрын
I got my condo for 490k when I was 24 and the place I live in Canada is so expensive my condo appreciate to 700k good thing I brought it cheap before going up
@ninaedwards345
Жыл бұрын
What work do you do?
@frankiecomplex1447
Жыл бұрын
@@andrewliang4112 Any advice on first time condo buying? I've looked at couple that I would like but I'm fairly new to this so I'm not to sure what to look for.
@C1K450
8 ай бұрын
I’m single, and I like to travel a lot. A condo is the perfect choice for me as I can have some ownership in a home and not have to worry about maintaining the property.
@DaTIP3R
Жыл бұрын
Every realtor wants people to buy houses. But most of realtors own and rent condos. 😂😂
@kenl1181
2 жыл бұрын
It’d be nice if I had a million bucks laying around for a house though. I got a condo because that was in my budget 🤷🏻♂️
@sleepmoneyken9234
Жыл бұрын
Right! people just say anything today .
@user-tb1xt2fp4j
8 ай бұрын
He said “as an investment” not as your primary residence.
@robertsitch1415
7 ай бұрын
My parents did inherit one from my paternal grandfather. They were able to rent it for 10 years to a retired couple and sell it for about twice what my grandfather paid for it 12 years earlier. Although they generally appreciate a little slower than nearby single family homes, they still make you money long term.
@serkanmehmetkaanbey214
2 жыл бұрын
There advantages buying condos: cheaper mortgage payment, cheaper insurance, cheaper maintenance and easier to rent. People tend to rent more condos than houses.
@pruneda95
2 жыл бұрын
Hear hear
@adriank2959
2 жыл бұрын
Short sighted
@josephwhite7646
2 жыл бұрын
Yeah I’d rather have a condo just because the hoa takes care of outside maintenance and I can charge that as utility because it always includes water sewer and trash pick up
@youtubecommenter1000
2 жыл бұрын
@@josephwhite7646 Special assessments can get expensive tho.
@roninpwns
Жыл бұрын
@@youtubecommenter1000 this is facts. nothing like getting hit with a 6k special assessment
@birdgurl6075
2 жыл бұрын
It is important to remember that not everyone has the money to invest in a house. So many people would LOVE to buy a house. With regular wages against the INSANE inflation, it just isn't possible.
@josephwhite7646
2 жыл бұрын
This is just a poor mental. Have a regular wage job really make awfully little money (15-20k) yearly and I just bought a property last year and I’m looking to buy one in six months so it’s possible and there’s many different ways you just have to actually do work and find ways to make it happen ask yourself how can I make it happen rather than say I can’t afford it
@birdgurl6075
2 жыл бұрын
@@josephwhite7646 I am glad you got a property. That is excellent. Where my city is right now, it is almost 200k on average for a run down apartment. Then there are condo fees, and food. I have to pay more for food too due to a condition. I have a full time regular job, but it is still really hard. Sure, things are possible. But they are not easy and, honestly, people should not have to struggle for a basic need.
@ninaedwards345
Жыл бұрын
Exactly
@josephwhite7646
Жыл бұрын
@@birdgurl6075 200k is the average for my city too I just found a fixer upper apartment for really cheap. Your mental is keeping you from achieving what you want and that’s the way we was taught to think because a certain group of politicians want us to be dependent on them but you should really think about how you can make it happen rather than it being impossible for me I follow and read rich dad poor dad it would probably do you a lot of good
@vengeance8924
Жыл бұрын
If you are JUST starting in real estate with 100k in your bank account, buy a nice condo and rent it out. Use that money to pay for your house payment. Save money. Buy a second condo and rent it out. Repeat the process. That being said, location location location is everything. You never want to get something that is un warrantable. Now if you make a lot of money, you could go the house route. But you won’t be able to do that AT ALL without a substantial bank roll.
@trking92
2 жыл бұрын
Don’t buy a house in a HOA neighborhood
@TheGrandRevo
2 жыл бұрын
Budget can either by a modest town house, and decent condo or a run down box of a house, so I’m going with those
@grumpyschnauzer
10 ай бұрын
Same
@MalluStyleMultiMedia
8 ай бұрын
I’ve owned 4 condos in my life .. sold 2 ; one in Chicago and one in houston .. they suck @$$ like he said .. but still it’s an affordable investment.. next World Cup 2026, about 6-8 games will be played in NRG stadium, Houston. Now those condos around it are cheap .. Load Up!!
@LeanForLife989
Жыл бұрын
I appreciate you letting us know this. I still think a condo is for me
@streak2s
9 ай бұрын
If the roof on a house needs to be replaced, u pay the whole $15,000 yourself. If the roof on a condo needs to be replaced, you split the $15,000 between all the owners.........
@BoeingAC2001
8 ай бұрын
I love my condo
@danishshaheen5973
7 ай бұрын
But if the elevator or plumbing goes oh no😢
@abdullahal-shimri3091
6 ай бұрын
Except the HOA will most likely not even replace the roof and try to find ways to make you pay extra by threatening lawsuits. I’d rather live and save in an apartment and just buy a house when the time comes. HOAs are run by Karens with way too much power.
@saltnpeppanatural1931
2 жыл бұрын
Like HOAs in a neighborhood don’t increase
@indomarked
2 жыл бұрын
What do you do if you can’t afford a home? Especially with the crazy increase of the home
@Steve_305
2 жыл бұрын
Go to a state thats cheaper
@JayJay-he9bk
2 жыл бұрын
@@Steve_305 start with a condo! Trust me.
@rosendoperez6677
Жыл бұрын
Save up as much money as you can, don’t make the mistake I did and buy a house with no savings accounts
@MomentswithDavid
Жыл бұрын
Thank you for bidding up home prices making it difficult for people to own homes. Stop treating homes as the stock market.
@veer2101
9 ай бұрын
don't get mad bum
@alextogo8367
7 ай бұрын
Forreals
@indigoGoddess7
7 ай бұрын
To each their own. There are pros and cons to both. People have to do what’s best for them. There’s no one size fits all.
@cashflowjimenez9446
Жыл бұрын
Buy both
@w.miller7282
11 ай бұрын
I’m glad my neighborhood HOA has a 2% rent cap, most rental homes are neglected.
@bmxrider925
7 ай бұрын
Single family homes require a TON of time and $$$$$ to maintain. Plus suburban places are dead and have no life. Thriving places have condos and apartments (downtown areas)
@adrianelias2365
3 ай бұрын
Have fun with the homeless. Suburbs are safer and has more affluent people.
@bmxrider925
3 ай бұрын
@@adrianelias2365 have fun in the suberb where you have to drive an hour to do anything entertaining, live in a desolate lifeless community where you never meet your neighbors or have anything remotely interesting to do within a walkable distance 👍
@hkmp7fan
8 ай бұрын
Condos dont have landscaping to take care of every week
@bernadinetinker3028
Жыл бұрын
This message is opiniated and incorrect. Frequently, the association does not know the unit is being sold if assessm'ts and HOA are current. First, can you afford the mortgage and/or entire price of unit, HOA, and any assessments. There is no rental cap in all condo communities. If rentals exceed a percentage in a condo community; mortgages from FHA and Vetran Services are not available. For seniors, women, people who away from home, the condo is a very suitable choice.
@tgshark1
Жыл бұрын
Condos don't work for him becuz he looks to fix up and flip after renting out
@yr1520
3 ай бұрын
The biggest issue with condos is that you don't have any control over what gets fixed or how it gets fixed. Suppose you live on the top floor and only your roof is leaking. You need to get approval from the board. The board may go with a cheap fix that temporarily fixes the issue instead of a long term fix that would be more expensive. If you can't repair your own property as you see fit then why not just rent?
@oj6633
Жыл бұрын
If that was the case then there would be no condos in the first place, no one will want to invest in them. Talk about the upside man
@sbhm1108
Жыл бұрын
Don’t houses still have community HOA fees ?
@tinahuttner7280
11 ай бұрын
I prefer a condo, could care less bout doing yard work and I don’t want to deal w out side maintenance so with that being said houses are for everyone.
@SB-rh3hv
2 жыл бұрын
Woah I watch u on tik tok and I didn’t knew u did yt
@tttxnft3565
Жыл бұрын
So do the opposite and lease… Many times investment condo owners will choose to lease their unit. Or just simply retain some units for leasing purposes.
@nicholasharwood6688
Жыл бұрын
But houses also have HOA dues also in some neighborhoods but if you live here in AZ it’s like they are everywhere. So, does what you say works also for homes in the HOA community on a house??
@161Mudslide
3 ай бұрын
Thank you for this info
@haqikahkerr4598
7 ай бұрын
Thank you for sharing 😮❤!!!
@SurferRC
11 ай бұрын
Dont know one place that has a rent cap 😂🤷🏼♂️
@m.necatisepetcioglu4391
10 ай бұрын
i have 3 condos vancouver downtown, doing airbnb. 8K a month from each. i recommend that to anyone
@Tin0K
11 ай бұрын
Man stop listening to all these real estate gurus they’re like magicians and magicians never explain their tricks. We’re not getting richer by watching him or anyone else just go out and make mistakes this is how you’ll learn and actually get rich😉
@chicagodoorstep
Жыл бұрын
The home dues are killer and usually the older the building the higher the dues
@kamaruddinhuesenkamal8347
7 ай бұрын
great tips , sir... am following from Malaysia...🎉
@xkrr8759
6 ай бұрын
Dont buy a condo or the house, buy the building
@selgoog8251
Жыл бұрын
guys, guys, guys, I'm pretty sure he's referring to those the newbies doing the BUY REHAB RENT REPEAT system. That's where wholesalers can come in handy, they find the rehabs at more affordable costs for investors.
@huntii
Жыл бұрын
So the HOA can raise your HOA fees after you bought it ? It's not locked in like the mortgage ?
@douglascarpenter5433
Жыл бұрын
Nope can add extra for major repairs like roof heating hot water systems driveways, siding etc
@BoeingAC2001
8 ай бұрын
Your dues pay for landscaping, building, repair, water and trash, swimming pools, gym and tennis courts and security. As inflation rises these people and things need to be paid for, so yes, the HOA will go up.
@roofer373
2 жыл бұрын
Some HOAs are owner occupied ONLY , owners aren't permitted to rent their units ! The special assessments imposed on each owner can be in the thousands too. And the HOA board is always full of KARENS & one a nice gay who the run the complex likes it's their SHE SHACK. .Don't buy a condo , your neighbors are too close .
@getgoingwithshilpi
11 ай бұрын
Hello , my son wish to buy a condo to start with. Whom should I contact it for?
@BoeingAC2001
8 ай бұрын
I love my condominium and all the amenities. I am able to focus my free time on work and relaxation instead of yardwork and wondering how much the roof on my house is going to cost and if I will be able to afford it I’m sure your son will love his first condo.
@Nic.obaigbena
6 ай бұрын
You can do Short Stay Rentals.. I can find a good properties for you in San Francisco CA, Aspen Colorado, Houston TX... I Only charge $400 as Finders fee. I'll be able to get the landlord to sign Lease with you as soon as Possible
@danechapman5596
Жыл бұрын
It’s just personal preference guys seriously!
@Godzillaxkongfamly
Жыл бұрын
My first plan was by the house when you said you make good money of investing money on the condo. I change my mind. I’m looking for condos now.
@letsbefreeletsbefree7183
Жыл бұрын
I bought my condo herr in scandinavia for 100k dollar 3 years ago the prices is crazy here just for a small home....
@SuperSamoyedDOTO
Жыл бұрын
Sir is it good to buy a land and build house or should I buy a house and lot property and rent it out ? This will be my second property that I’m thinking.
@user-sj9ty5eg4d
7 ай бұрын
Unless you own the property it’s self condos don’t make sense as a investment. They seem perfect if you’re someone who want to live a city and got the money to blow on it. But as for a asset house’s are the way to go.
@calvincooksey9206
Жыл бұрын
That's good, thank you
@wonderplanet343
Жыл бұрын
Thaaaaank you!!!!
@ascott2168
9 ай бұрын
Buy what YOU can afford folks !!! Key word is YOU
@stanmoney8470
8 ай бұрын
This is true! They are cheaper and more affordable though.
@limonkhan8475
Жыл бұрын
if you build a condo and you owned whole apartments do you need to pay home due?
@dhowto3005
2 жыл бұрын
This was a great tip! Thanks!
@Tekniq182
2 жыл бұрын
I much prefer my condo than a SFH. I own a condo in a luxury building with a ton of amenities and amazing water views. There are crappy condos the same there are crappy houses. It all depends on your lifestyle.
@marianolasco1151
Жыл бұрын
Rs but the thing is what if you want to rent it cause supposedly you can’t rent a condo
@Ukacip
10 ай бұрын
Them monthly fees is like second mortgage plus rent.
@edwardnguyen4362
2 жыл бұрын
How about multifamily home chú Thạch ?
@Dylan-qf3xd
10 ай бұрын
Guess depends where you live where I live it’s illegal for them to make rules that don’t allow you to rent your condo
@RaceForGoodLife
10 ай бұрын
So HOA dues in a home does not raise?
@HarisKhan-tw2mv
Жыл бұрын
Agreed but a duplex with a basement is great
@heatheretheredge4220
7 ай бұрын
Where are your homes located?
@stanmoney8470
8 ай бұрын
How about townhomes?
@Coffeetime1991
Жыл бұрын
i bought a condo and am saving for the next one but now i will be saving for a house instead. even if it takes me 1 year to fix it
@Ukacip
10 ай бұрын
How did you do that... condos here are 350k -400k with 1,6-2,5k monthly fees... thats like 2 mortgages you own the property and feels like you paying rent
@shegotmywocchardt
Жыл бұрын
but WHY does the condo depreciate when the HOA increase ?
@Ukacip
10 ай бұрын
Because when the hoa increase you have to pay more monthly fees aint no one wants to buy a condo with such high fees they can buy a damn house with those fees hence demands drop and price depreciates
@m77ast
Жыл бұрын
Interesting.
@aceshot8073
Жыл бұрын
Houses also have an HOA I don't like lawn work I am single I don't need 3 bedrooms just need one
@bencook7731
8 ай бұрын
how about appt complexes ?
@Houndzee
Жыл бұрын
Ok Asian Elon
@noneya9467
Жыл бұрын
Note to everyone. This guy is talking about investment. He's not talking about what you can afford. Lol
@GodChild-yw9dj
8 ай бұрын
❤❤❤❤❤
@vincepanico188
Жыл бұрын
❤❤❤❤❤❤
@karlamartin9312
3 ай бұрын
Burials now a days condosnare newer and houses are like 100 year old
@edwinedwards6796
10 ай бұрын
A rent cap? Rentals are far worse than anything. Abject robbery!!! Talk about that sit.
@darthvaderdarthvader-op5ec
Жыл бұрын
my parents invested in a worth 5M house. ayun sinira lng baha. ibinenta ng 900k php :(
@chasingsunset9801
11 ай бұрын
I live in my dream house a kilometer away from a beach because i dont like living in a box called a condo
@MomentoMori769
Жыл бұрын
What about townhouse??
@Ukacip
10 ай бұрын
Townhouse better than condo
@whiteviper1979
6 ай бұрын
Buy a condo in Thailand 🇹🇭
@ethanknoth8715
9 ай бұрын
I can’t tell if he is actually telling the truth about his purchases. I’ve seen a few other videos where he has bought several condos
@BoeingAC2001
8 ай бұрын
I love my condominium I couldn’t be happier.
@BoeingAC2001
8 ай бұрын
If you can’t afford a house at the moment, but you could afford a condo and you did not buy it because you listened to this guy then more than likely the condo you could’ve had has doubled in value, and you could be stuck renting forever
@techvidz4451
2 жыл бұрын
Hello bro, I really wanna start learning real estate where can I start?
@Steve_305
2 жыл бұрын
Watch Ben Mallah
@drbassface
Жыл бұрын
Ain’t no rent caps in DEATHSantis land (FLORIDA) The land of #RENTRAPE
@Jesse-lu7bt
Жыл бұрын
bs
@vybespotmedia1810
Жыл бұрын
Aren’t HOA fees on condo rentals a 100% tax deductible?
@BerkcanMersin
2 жыл бұрын
First
@ThachNguyen
2 жыл бұрын
🔥🔥🔥
@sauronthegreat5799
Жыл бұрын
Condos are the biggest ripoffs of all. The maintenance fees are always going up. The boards are usually corrupt and there is a lot of price gouging and nepotism. You’re at the mercy of unscrupulous people who want to suck your money. Thee are also assessments whenever they want to do something to improve the building or do major repairs. There’s also a million silly rules that you have to abide by. Never buy a condo.
@50tigres79
6 ай бұрын
This guy. He thinks everyone has money to buy a house.
@adriank2959
2 жыл бұрын
Agree... Wtf buy condo? I know its cheap...but you get what u paid for
@SB-rh3hv
2 жыл бұрын
Second
@pruneda95
2 жыл бұрын
Sloppy seconds
@antoniotiberi1569
2 жыл бұрын
Condos are a rip off
@Godzillaxkongfamly
Жыл бұрын
Now you making me confuse other video you show the condominium you make good money as investment now use it to buy condominium as investment by the house, so which one is really we need to do because I’m really planning to invest
@Ukacip
10 ай бұрын
He owns the whole building thats why
@thunderbird4709
4 ай бұрын
Sure buy a home. you just need $1,000,000
@user-su9fh6ct4d
11 ай бұрын
Find me a respectable house for >$100k and then I’ll listen
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