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Videos uploaded by user “Derosa Group”
LLC vs Owning Property in Your Own Name - MM019
 
05:18
Today’s Mentorship Monday episode comes from Cedric who is active duty Army stationed at Ft. Knox. Most of his properties are in a LLC (Limited Liability Company). However, he wants to know what to do with the property that he already owned in his own name. In today’s episode, Matt shares some information about owning property in your own name vs an LLC. If you have any questions about real estate investing, please email us your questions at [email protected] Learn more by grabbing my New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 26371 Derosa Group
How I Turned a Duplex into 20 Units
 
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In this video we talk about real estate investing and how we turned a duplex rental property into a 20 unit apartment complex. Learn more about us at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth Are You Ready for Your First Apartment Deal? https://youtu.be/RZZNaLHpBZ4 Email us questions at [email protected] Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 161628 Derosa Group
The Pros and Cons of Using an LLC for Rental Property with Matt Faircloth for Bigger Pockets
 
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There is so much conversation on LLCs. From the basic stuff like what are they and why should we use them to the more complex like which state should we register in and the difference between a Manager Managed LLC versus a Member-Managed. Learn more by grabbing my New Book "Raising Private Capital" http://bit.ly/RPCbook Today I am going to take a stab at one of the questions that goes around a lot. Should you get a new LLC every time you buy a property? There are pros and cons for doing this and in today's video I go over them in detail. In short form, here are some highlights: Pros of using a new LLC every deal: 1. Ownership structure - perhaps you are working with several different owners on a new deal. It makes sense to have a new LLC as it will define the ownership percentages and the roles of each owner. 2. You are working in a new state - this could be argued either way but to me it makes sense to incorporate in the state where your investment property is. 3. You are doing a flip - many investors do a new LLC every flip. This makes sense as it separates that flip from other properties with respect to taxes and liability. More on this in the video. 4. Asset protection - holding each purchase in it's own LLC will compartmentalize each property from the other. If there is a liability claim with one property it won't affect any others held by you. Some would say that this is the main reason to hold each deal individually. Watch the video for a deeper conversation on how valid this is. As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 62352 Derosa Group
Don’t Hire a Property Manager Until You Watch This Video
 
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So believe it or not, I’ve been in business for 10 years and never had to hire a property manager. We have been able to do that by keeping it close to home with investments inside of a 30 minute radius of our office. We’ve made a strategic decision to move forward this way and have done well with it. That being said, we are expanding our portfolio to areas that managing ourselves is not possible. We currently have a 49 unit building under contract located 2 hours from our office. We are really excited about the deal but it puts a task on our plate for the first time – having to hire a property manager. In today’s video, I talk about an interview I had with a potential property manager for our new purchase. I share some important questions I asked and what I learned from their answers. Hope you enjoy! 📘New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 13354 Derosa Group
3 Renovation Tips to Make Property Management Easy with Matt Faircloth for Bigger Pockets
 
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Hey Bigger Pockets, In today's episode Matt show us 3 simple tools that we can use to make property management easier. We begin by creating systems and standardizing materials that are most often used. 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook The first example we'll look at is the paint and paint colors you're using in your rental properties. Instead of using a different color for each property that you mange. Always use the same color. This way when a tenant moves out or you need to go in and touch up the walls, you're not wondering, "what color did I use for that unit?" "where did I store the paint cans for that unit"? By implementing this system you'll never have to wonder what color, or where it's at. It'll all be the same, no matter which of your units needs attention. The next item that we'll look at is Landlord Locks. These are a major time saver and they also provide peace of mind. Landlord locks are a specially designed lock with a special master key that will allow you to change out lock cylinders quickly and efficiently. They also save you money over the long term because you can just switch locks around on the different properties that you manage. The last tip is to have durable flooring. This means selecting a material like hardwood or vinyl tile and avoiding materials like carpet. You want to have floors that will be able to withstand a lot of wear and tear. Giving your floors treatments like polyurethane will help them last over the longer term. If you decide to put in carpet, just keep it to the bedrooms. The goal is to make it simple and repeatable. By making these small adjustments you'll be able to save money and time over the lifetime of maintaining that unit. In addition to systematizing your process, you make it easier when it's time to turnover the unit from one tenant to another. Other areas that you can standardize and systematize. -Cabinet Finishes -Light fixtures -Video Surveillance Cameras As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/
Views: 12261 Derosa Group
Tips for Hosting a Successful Open House
 
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In today's video, Liz discusses some important tips in order to host a successful Open House for a fix & flip project! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Check out Matt's New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 53931 Derosa Group
You won't achieve the 2% Rule unless you do THIS!
 
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Hey There BP! So many investors use the 1% or 2% rule as a rule of thumb to do a quick evaluation on real estate deals. Everyone seems to strive for the 2% rule, but I have rarely seen many achieve it. It is possible, but you need to invest from a few specific angles to get there. Watch today's video to learn more! Learn more by grabbing my New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 13993 Derosa Group
Just Bought a Duplex – How to Avoid Potential Pitfalls? MM037
 
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Today’s question comes from Diego from Florida. He just purchased a duplex and is in the process of renovating the units. He purchased it for $140,000 and plans on investing $61,000 to renovate the property. He wants to use the appreciation from this project to purchase a multi-family in 12-18 months. He wants to know if Matt has any pointers for him and potential pitfalls he could face with his plan. Thanks Diego for submitting a question! Learn in depth strategies by grabbing my 📘New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 12332 Derosa Group
Analyzing a Real Life "Buy, Fix, Rent" Deal (Case Study)
 
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So many people lose money on an opportunity because they do not analyze a deal properly. Whether you are a newbie or a seasoned investor, you must quickly and effectively analyze and underwrite deals. In today’s video, I analyze a recent "buy, fix, and rent“ opportunity I am considering purchasing. I analyze the deal and share three tips to never forget when analyzing an opportunity! Learn more by grabbing my new book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 36451 Derosa Group
How Can College Students Get Started in Real Estate Investing?
 
06:31
Hey there BP! Real estate investing has become more popular over the years, with people from all stages of life getting involved. From the middle aged person with a day job looking to diversify their wealth building, to the retired professional looking to get into something new, to the college student looking for a different path, all have their motivations to hop into real estate investing. 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook College students or those just out of college face a certain set of obstacles that can be difficult to move around. They may be limited in cash as many others just getting started are, and they may not have established credit. It may also be hard to get others to take them seriously due to their youth. In todays' video I talk about how college students can get into the game, and even leverage some of their assets to get ahead. I would love to hear from those of you out there that got started in real estate while in college or at a young age. Share your experiences and stories below so we can get a good conversation going! Take care, #biggerpockets, #derosagroup, #collegestudentinvestor Matt
Views: 12038 Derosa Group
Three Critical Keys to a Successful Refinance
 
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If you are looking to use the strategy BiggerPockets talks a lot about called BRRRR (Buy, Renovate, Rent, Refinance, Repeat) to grow your business, the refinance portion is arguably the most important. If you don't get the right value on the refinance, you will not be able to pull out your private loan, hard money, or personal cash so that you can repeat and do this over and over again. In today's video, Matt teaches how to make sure you get the best value on your refinance so you can have a sustainable business model moving forward. 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 8860 Derosa Group
Should I Start a Property Management Company? MM040
 
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Today’s question comes Jacob from California. He is currently an active realtor who also owns and manages a duplex. A friend of his who also owns property is moving to Alaska and asked Jacob if he would manage his properties for him. Jacob wants to know how we started our property management company. This is a big question for many buy and hold investors, so we hope today's video helps you, Jacob, and others who are also considering starting a property management company! 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com: https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt and Liz were recently 2nd time guests on the BiggerPockets Podcast: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ DeRosa Videos that Matt references in the video: Is Property Management a profitable business? https://www.youtube.com/watch?v=2_QeCcBHAFw&t=16s and How S Corp Can Save You Money - https://www.youtube.com/watch?v=ArUgnvnEyrY&t=2s
Views: 6249 Derosa Group
3 Affordable Ways to Add Value to your Multi-Family Property with Matt Faircloth
 
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Hey Bigger Pockets, For this video we’ll take a look at how you can use these 3 simple steps to increase the value of your multi family unit by using “Forced Appreciation”. 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook Tip #1: Add Storage units that you can offer to your tenants. By taking out the time to find and designate a location on your property to build out a storage unit, you automatically add an EXTRA perceived value from your tenants. Most tenant use storage as their units aren’t usually big enough to house everything that they own. By having a spot on site, you can entice tenants to move their storage over to your building. Even if tenants don’t use the storage units they’re usually willing to pay an extra $30-$40 dollars to have the option of using it. Tip#2: Have a Security Surveillance System on site. This won’t necessarily add to the bottom line of what you can charge tenants each month. Although it will give both you and the tenant more peace of mind. The tenant will feel safer and you will be able rest a little bit easier at night, knowing that you can also keep an eye on your investment. Camera systems are available in wired and wireless set ups and even have apps that connect to your phone. Check in on your property from in anywhere in the world. Now that’s peace of mind. Tip#3: Add a Washer and Dryer Unit to your property. Most units aren’t big enough to have a washer and dryer in the unit, which means our tenant will have to find a local laundry mat or go to a friends house to do their laundry. By having a unit on site you can charge a little bit extra per month for rent and you also get to collect off the money you make from tenants using the actual washer and dryer units. These units are a relatively cheap investment for the return that they bring, not only to your bottom lined but “Forced Appreciation” as well. Tips and Takeaways Add Storage Unit for Tenants Add Surveillance System Add Washer and Dryer Units Hopefully these small tips can provide you with a big return. To learn more about Matt Faircloth and Biggerpockets.com Visit the links below. As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/
Views: 9905 Derosa Group
Top 10 Things to do before Buying First Investment Property - MM 074 with Matt Faircloth
 
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Thanks for you question Juan! Matt gives his list of the Top 10 things you should do before buying your first investment property. - Set your goals. have a 1, 3, 5 year goal of what you want to accomplish in your business. - Network. Join real estate groups like bigger pockets, meet other investors. Join a local REIA club or meet ups, if there isn't any around you, start one yourself. - Get your personal finances in order. Know your budget for your personal income and expenses. - Get yourself a good C.P.A. who knows how to handle investment real estate. - Get an Attorney. Have someone who can write your leases up for you. Write your own, don't try to use others for FREE! Have someone who can represent you on transactions as things get more complicated. - Find a Realtor. One that can handle investment grade real estate attached to your goals. Fix n Flip, Buy and Hold, etc. - If you are Married, get alignment from you spouse! There's a lot of sacrifices that have to made to be successful in real estate and everyone has to be on the same page. - Write up a business plan for the management of your rental real estate. Have a criteria laid out of how you want your operation to run. - Know how you're going to finance your deals before you buy property. Get your business house finances in order. - Find yourself a Mentor. Find someone who's doing what you want to do and see if they'd be willing to meet one a month or every other month for a cup of coffee and talk about your struggles, goals and wins. As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ
Views: 3220 Derosa Group
How to take the BRRRR Strategy to the Next Level on 198 Unit Apartment Building
 
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Hey Bigger Pockets, Taking the BRRRR Strategy to the Next Level with 198 Unit Apartment Building 📘New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook In today's episode, Matt is going to show us how he's using the BRRR method to take his real estate investments to the next level. Matt currently has a 198 Unit building under contract in North Carolina. The current status of the property is that it isn't bringing in the current market value but it also isn't at the standard of the current market demands. So let's take a look at the numbers of how he'll use the BRRR strategy to INCREASE the VALUE of this property. The BRRR strategy is where you Buy a Property, Renovate that Property, Rent out the Property and Refinance the Property. There is another R, which is to repeat. But for now, we'll just stick to getting the property to a point where we can increase the value, so that we can later refinance and get our money back. Let's look at the numbers.... As of Now 1br - $450 2br - $515 Market 1br - $575 2br - $675 Average increase per unit $140 The property currently needs a "Face Lift", the kitchens are date, old windows, stained carpets, etc. But the KEY factor is that the property has good "BONES", it's jus the Ugly Duckling. This is where the BRRR strategy becomes super valuable. You find a property in a good area with a good structure that just needs some cosmetic repairs. Bring the property up the the standard of the area and that's how you INCREASE the VALUE of that property. By adding an average of $140 per month, per unit, we increase the yearly revenue to about $315,000 per year. Notice that we didn't increase expense, we just did renovations. By dong this we're increasing the CAP rate that will justify our Refinance. Cash Flow: Renovations will cost around $8,000 per unit, we'll get the money for this by using equity, investors, and loans. This is commonly referred to as a Bridge Loan. When we go to refinance we'll be pulling out this amount, which is the renovation expenses. 8,000 x 198 units at 6% debt cost will come in at $480 per unit per year or $40 per month. So for $40 per month, we can create an additional $100 per unit per month. Which equals out to $100 x 198 x 12 = $237,000 per year. This all going to be accomplished with the Bridge Loan where you're going to Buy, Renovate, Rent and Refinance. This will recapture the Loan. Using the BRRR method is a great was to add Value and recapture Capital in real estate. This is great strategy is your just starting out and you're doing smaller multi unit family properties or if you're looking for a a way to elevate your portfolio to the next level. As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ How to Buy investment Property when you're laid OFF https://youtu.be/fWevXC9ZuZ8
Views: 12721 Derosa Group
3 Things I would do differently (If I had to start over!)
 
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Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 3523 Derosa Group
What is Better - Buying an Apartment Complex vs Building One -  MM029
 
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Welcome to Mentorship Monday! In today's video, we answer a question from Jonathan from Florida. Thanks Jonathan! He is considering buying an apartment building compared to building a new one. In today's video we talk about the factors to consider in comparing both options. Learn the steps to creating great deals in 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 11272 Derosa Group
Part 1 - Things you must do BEFORE you buy an apartment building
 
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Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 5214 Derosa Group
How I Bought a 18 unit Apartment Building With No Money Out of Pocket
 
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As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! My New Book "Raising Private Capital" is now Available now on Amazon http://bit.ly/RPCbook Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 132821 Derosa Group
How to attract and keep GREAT tenants!
 
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Hey Everyone! Vacancy will kill your return on investment for a rental deal. The best way to keep your deals profitable is to fill them up with good tenants and keep them happy! Watch today's video to find out how to do it! Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 6698 Derosa Group
How We Tripled Our Portfolio through Creative Entity Structure
 
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Most investors don’t realize how entity structure can help exponentially grow your real estate company. In today’s video, I share how we have grown our rental portfolio significantly over the last several years as a result of creative entity structure. Now, I am NOT an attorney, however, as a result of being in the rental business for the last ten years, I have learned a bit about structuring a business that involves multiple entities! Hope you enjoy today's video! Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 5223 Derosa Group
How To Spot a Great (vs Good) Property Manager
 
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Although you make your money when you buy, you don't cash in on that until you initiate a good management strategy. 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook So we have managed our own assets for many years and learned what works and what doesn't first hand. Recently we hired a manager for an apartment building we purchased that was too far for us to manage ourselves. Through the process of building our management team and then interviewing other management companies, I have realized that there are things that separate a good management company from a great one. In today's video I review what the baseline requirements are that make a manager good, and what it takes to go the extra mile and become a great property manager. Please leave a comment if you have hired a great manager or are one yourself. Thanks for watching and if you have any questions please email us at [email protected] and we will answer them on an upcoming Mentorship Monday episode! To learn more about us, please visit: www.derosagroup.com
Views: 10207 Derosa Group
The Importance of Doing Preventative Maintenance Walk Through inspections on your rentals
 
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Learn more about us at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 3839 Derosa Group
How to Refinance your Property into an LLC - MM 082 with Matt Faircloth
 
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Hey Youtube, Thanks for checking out today's Mentorship Monday. Today's question comes from Jonathan and he wants to know "How to Refinance a Property that he wants to move in an LLC? Thanks for your question Jonathan! As of right now the property that Jonathan has is a non secured loan so he's personally guaranteeing the loan. That's fine, the only problem is that the property is tied to his personal name and so when it shows up in his credit report, it shows up under his name. This is important for investors to understand. Although you might be personally responsible for securing the loan, you don't want it to show up on your credit report as you being the borrower. Instead you want it to show the LLC as the borrower. So how do you go about doing this? First you want to find a small local community bank. Like local, local. It should be a small bank with under 10 branches, not the big names like Bank of America or Chase, etc. When you get to the local branch meet with the business manager and from there you should be able to work something out. Once again, make sure that you guys are taking your properties and putting them into an LLC, especially if you plan on running this as a business. Putting properties in an LLC and having the LLC show up as the borrower will allow you to keep multiple mortgages out of your name and keep you from becoming "UnBankable". Hope this helps! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s
Views: 1362 Derosa Group
What I Have Learned as a Result of Getting SUED!
 
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Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook
Views: 12753 Derosa Group
How S Corps Can Save You LOTS of Money - Interview with DeRosa's CPA!
 
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We are so excited to bring you this interview today with DeRosa's CPA! We can't tell you how much we value Jason and his team. Since becoming our CPA about 5 years ago, his team has literally saved us thousands of dollars. In today's video, Matt interviews Jason on how a "S Corporation" (S Corp) can save business owners/real estate investors with large portfolios a TON of money. This interview is pure gold! To learn more about Jason and his CPA services, check them out at: http://dubnikcpa.com/ Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 3650 Derosa Group
What Improvements Should I Make on a Rental Property? MM024
 
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Most people think they make money when they buy a property, but actually money is made or lost as you manage the property! In today's Mentorship Monday episode, Matt answers a question from Dave from Canada. Dave asked about the appropriate capital improvements to make on a newly purchased rental property. As always, please email questions to us at [email protected] and we will answer them during an upcoming episode! If you are interested in learning more about us, please check out our website: www.derosagroup.com
Views: 6183 Derosa Group
Everything You Need to Know about 1031 Exchanges!
 
16:23
So let's say you've got yourself a rental property and you've worked hard to get rents up and keep expenses low. The property is profitable and you are looking to trade up by selling it and buying a more expensive property. The problem is that if you sell, you will have to pay capital gains tax on the sale as you would with a fix and flip or wholesale deal. That tax could be a heavy hit if you have sold the property for a gain, and it will stunt your growth as an investor. What can you do? Learn more by grabbing my New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook That's where a 1031 exchange comes in. A 1031 is a vehicle through which you can sell rental real estate and roll all the gain into a new purchase. Sound good? In today's video, I go into detail on the rules of 1031's. As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 15071 Derosa Group
3 Tips for Buying Houses from Online Auctions MM 077 with Matt Faircloth
 
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Hey Youtube, Today I'm going to give you a few tips for what to look for when bidding on properties using the online auctions. To get started - I'm not going to read through the all the paperwork that was sent over, but I will point out a few interesting things that I noticed as well as provide you with tips moving forward. We've used online auctions to purchase many investment properties and here's what we've learned along the way. Tip #1 Read the Fine Print. It's important to always examine the fine print. For example, one thing that I noticed in your paperwork is that they don't allow e-signatures. Meaning that if and when you submit a proposal, it has to be printed and signed. What's important to notice about that is, if you were to print the paperwork with an e-signature, your offer would be rejected and you would have to do the process all over again wasting time and energy. Also take the time to understand all the contingencies that are involved with that particular property like, inspections, financing, titles, etc. Tip#2 There's usually a Homeowner Round This homowner round is opened up to people who actually plan on living in the property. This stage does have some regulation around it, but it's not likely that someone is going to show up to your front door and make sure that you're actually living in the property. There are ways to get around this, but stay on the safe side and play by the rules. How to get around it? Contact the listing agent of the property, explain that you want to submit a bid as soon as the property opens up to the investor round. The listing agent will know all the rules and regulations and will be able to submit your bid as soon as that round opens up. This way your the first to bid on the property without having to constantly check to see when it opens up to investors. Tip #3 Understand Some Properties have a Reserve Amount The reserve amount is the dollar amount that the auction house, bank or property owner needs to get before they can sell the property. Reserve amounts don't always make sense, you might see a property listed for $30,000 but the reserve amount is $80,000. Why do they do this? They're collecting information from the market. They'll list at a low price and see what type of bids are coming in. If they don't reach the reserve amount, they'll take it down, lower the reserve amount and re post it. Basically, they're trying to get the highest and best offer from the market. Don't let this process frustrate you, instead know that they'll be pulling it down and reposting it with a lower reserve amount. Hope this was helpful! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ How to Buy investment Property when you're laid OFF https://youtu.be/fWevXC9ZuZ8
Views: 2564 Derosa Group
3 Things a Property Manager MUST HAVE To be successful
 
05:59
In today's video, we talk about Property Managers and the 3 things they must have in place to be successful. Check out the video to learn more! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, have been on the BiggerPockets Podcast twice. Check it out: Show #88 – https://www.biggerpockets.com/renewsblog/2014/09/18/spouse-financials-088/ Show #203 - https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/
Views: 6173 Derosa Group
Don't buy an out of state multi family until you watch THIS video!
 
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Out of state multi family investing can be tempting, but don't do it till you watch this! To learn more about Matt Faircloth and The DeRosa Group, check us out on Bigger Pockets at https://www.biggerpockets.com/users/mfaircloth
Views: 5797 Derosa Group
How to Handle Dirty Tenants - MM018
 
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In today's Mentorship Monday, we answer a question from Jordan. Jordan is in his 20's and recently bought a duplex with existing tenants. In this video, Matt discusses some ideas on how to deal with Jordan's tenants! As always, email us any real estate investing questions at [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at www.derosagroup.com!
Views: 5713 Derosa Group
How Do I Raise Rents Without Tenants Hating Me? Mentorship Monday 092 with Matt Faircloth
 
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Hey Youtube, Welcome to another Mentorship Monday and today's question is a good one. Long time Mentorship Monday viewer Jacob wants to know "How do I raise rents without my tenants hating me?". Great question! Thanks Jacob. So, how do you go about raising rents without your tenants hating you? Here's the deal. You job first and foremost is to be a fair landlord who provides your tenants a quality place to live, takes care of maintenance issues in a timely fashion and treats them with respect. Even if you check off all the boxes, there's still going to be some tenants who just don't like you. But that's there decision, some people just aren't happy with anything you do. The best thing to do is detach yourself from that situation. It's your tenants decision to be happy or not. Next, if you want to raise rents then create a value for the increase. Examples of that would be a list of expenses such as, inflation, taxes, maintenance, insurance, etc. You get the point. Have some type of justification for why you're increasing the rents. We try to on average raise our rents about 1% - 3% per year. When you do finally decide to increase rents, what we do is send a lease renewal. We make it simple, just a 1 page letter that states the changes for the following year. Your tenant can sign off and it then becomes an addendum to the lease agreement. For this process you don't have to send over a whole new lease, some do, but it's not necessary. Now, if you want to increase the rent significantly because you notice that it's way under market value, in this case offer improvements. We call these "Light Upgrades" examples would be installing ceiling fans, counter tops, flooring, new vanities, shower heads, etc. These are bigger changes that can be done while the tenant is still living in the unit. Some are a little more difficult than others like flooring, but the rest are quick and simple changes that will significantly increase the value of the unit. Now if you're looking for an even bigger return, your best bet would be to wait until the tenant moves out and the space isn't occupied anymore. Then you can make major bigger changes and bigger renovations. Hope this helps! Have a Great and Profitable Week! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 1233 Derosa Group
3 Immediate Ways to Add Value to your Multifamily Purchase
 
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If you own any multifamily property, you probably would agree that investing in this type of investing vehicle is more of a "marathon" than a "sprint." That being said, there are ways to add value quickly (and effectively) to small and mid-sized properties over a short period of time to get you off on the right foot. In today's video, I share 3 ways that you can add immediate value to your small or mid sized multifamily. These strategies will get you moving into the marathon of multi family ownership! Enjoy! Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 4196 Derosa Group
Buying a Rental Property with Existing Tenants MM - 087 with Matt Faircloth
 
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Hey Youtube, Thanks for joining us at the DeRosa Group for another episode of Mentorship Monday. On today's episode we're going to discuss what to do when you buy a rental property with existing tenants. When it comes to buying a tenant occupied property it can be a rough transition in getting the operation to run the way you want it to. What if you want to renovate? What if you want to raise the rents? What if the property has lead based paint? Our question today comes from Hugh where he explains that he just purchased a triplex that has existing tenants. These tenants have been living here for the past 5 years. He also mentions that they are paying their rent in cash at an amount that is below market value. There is a language barrier as most of them don't speak fluid english and the property also is likely to contain lead based paint. In regards to the lead based paint, as long as you have a disclosure signed by you and the tenants and you're in compliance with your local jurisdiction you should be covered on this. Still look to the remove or remediate as much of this as possible moving forward in the future. Hugh wants to raise rents, which can be tricky depending on whether there is a written lease in place or not. If there is a lease in place then you have to abide by the terms and agreements in that lease. If there isn't a written lease in place, then you have more room to negotiate and send out a notice to tenants about rent increases. Make sure that you're in compliance with all local rent control laws. A few things that you can start doing is making a transition in the way you accept rent payments. Instead of taking cash, begin to put systems in place where you can accept electronic payments. We use "PayLease" and "AppFolio". In conclusion, when making the transition in taking over a property their are going to be hurdles that you have to deal with. Even so you can still find ways to work around these barriers and make the transition to how you want to run the ship. Regardless of the situation you still have options. Hope this helps! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s
Views: 2161 Derosa Group
A Contractor's Perspective on Working with Real Estate Investors
 
07:36
In today’s video, I am excited to chat with one of DeRosa's General Contractors! Pat has been a great team member for us. He does everything from clean-up and demo work to full fix and flip projects. We talk about the most commonly discussed, and perhaps misunderstood, relationships in real estate....the contractor / investor relationship. Matt and Pat discuss how real estate investors and contractors can work best together and build a long term relationship. Thanks for watching! Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 2612 Derosa Group
Considering a Multi-Family Purchase?  Watch this Video First!!
 
15:37
Small and mid sized multi-family apartment complex investors have options. Should you invest in a small 15 unit complex or stretch to the 50 or 75 unit deal? Which is a better investment and more lucrative long term? Check out this video for a detailed pro and con discussion! Check out my New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 25118 Derosa Group
I am Running Out of Cash as I Grow My Rental Portfolio!  MM023
 
05:52
Happy Monday! Today's Mentorship Monday comes from Dave who is located in Oshkosh, Wisconsin. He has been investing for a couple of years and growing his portfolio. As he starts to move to bigger and bigger deals, he is running into a problem of running out of cash. If you are interested in learning more about the Raising Private Money course that Matt discusses in the video, check it out here: http://www.sjreia.org/Page.aspx?ID=Private-Money-Course If you have questions to submit to Mentorship Monday, please email us at [email protected] Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 3481 Derosa Group
The Myth of Passive Investing in Real Estate with Matt Faircloth
 
10:58
Hey Bigger Pockets, In today's video I'm going to that about the "Myth" of passive investing in real estate. When it comes to passive investing in real estate, most people are mistaken by thinking that it's truly "passive". They think that they don't have to "Do" anything and that the money will come rolling in. Now, don't get me wrong, we are all working toward passive income and yes, this is a possibility. But we have to remember in order to make money you have to "DO" something for that to happen. No it doesn't have to be you personally, but it there does need to be someone doing the money making activities. Let's dive in. Here are a few activities that I wouldn't consider as truly "passive". The two main activities would be wholesaling and flips. These are considered as active capital gains investments. They're necessary to generate chunks of cash that you can later put into more passive investments. Let's talk about some passive activities that you can do such as rentals or buying mortgage notes. I myself focus mainly of rental properties. So let's dig in a little bit deeper into how you can have truly passive investments. First you need money. This is another misconception, that you don't need any money to get started. The other side of passive investing is the "Do" side which is someone who's doing the actually money making activity. There needs to be a "DOer" and the "money person". The right way to do it is by putting money in a project where the "DOer" will start putting the money to work. What makes passive income truly "passive" is when you have someone that is putting your money to work for you. These are usually property managers, syndicators or partners. When it comes to property managers another myth is that they "care" for the property as much as you do. Usually property mangers are not owners and so you want to make sure that they have the proper incentives to make them want to take care of that property as if it were they're own. Syndicators are the one's who go out a find the big deals like a commercial complex or apartment building. They find the deal, take a portion of the profits and they make that deal make money and work. This is a great incentive because they only way that syndicator will make profit is if that deal is making money. The last type is a partner. This is where you might find someone who already has properties or deals (this might be you). You come in with a chunk of cash or agree to be the sweat equity and invest into a property together, where you do the work or vice versa and they do it. The arrangement between the "money people" and the "Doers" is what truly makes passive investing work. So for you out there who are deciding on what you want to do with your real estate investing career, decide do you want to be a "DOer" or "Money person". Hope this helps! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s
Views: 4939 Derosa Group
16 Points to a Bullet Proof Lease Signing
 
12:35
What do you need to make an air tight lease agreement? Today we're going to discuss our 16 Points to a Bullet Proof Lease Signing and why you need them. Check out Matt's 📘New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 12210 Derosa Group
Cap Rates Simplified -  MM001
 
08:22
In real estate investing, cap rates are misunderstood and not always calculated correctly! In today's video, Matt provides an overview of cap rates, how to calculate them, and when to use them! 📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbookit.ly/RPCMF As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 1823 Derosa Group
Property Walk Through after Bad Tenant Eviction with Matt Faircloth
 
08:03
📘My New Book "Raising Private Capital" Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! In this episode Matt walks us through a property that has been left trashed by a bad tenant. Matt shows us just how bad conditions may be after having to go through an eviction process with a bad tenant. We get a behind look at the damage and how you might go about evaluating your property and assessing what needs to be done with maintenance and repairs. Matt also helps us to understand why things aren’t always as bad as they might appear. Sometimes what appears to be a significant amount of damage can be repaired and replaced quickly and inexpensively. Tips and Take Aways: -Always make sure you screen your tenants with credit and background checks. -Realize that even with screening tenants, there's always some who will be able to slip through. -Don’t Panic, assess the situation and realize that what appears horrible at first might not be as horrible as you think. Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Learn more about The DeRosa Group by visiting http://www.derosagroup.com/ or https://www.biggerpockets.com/ Find us on Facebook https://www.facebook.com/thederosagroup/ Suggested Videos How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s
Views: 10350 Derosa Group
3 Ideas to Reduce (and Eliminate) Your Property Expenses
 
05:31
Learn more about The DeRosa Group and Matt Faircloth at http://www.DeRosaGroup.com or on Bigger Pockets at http://www.biggerpockets.com/users/mfaircloth
Views: 2031 Derosa Group
What to do about Properties that have Lead Based Paint MM - 075 with Matt Faircloth
 
04:56
Today's question comes from Kim and Dave. Kim and Dave are looking for federal programs that can help flippers dealing with properties that have led based paint. Thanks for you question Kim and Dave. There are historic tax credits that you can get for certain properties. But at the moment there aren't any programs that deal specifically with "Lead Based Paint". All you need to do is disclose if you did or didn't test the property for Lead Based Paint. If you did, show that you did the right thing by remediating the problem. Each state has their own laws and procedures on this process, so make sure that you're in compliance with your local laws. In every state you can get what's called a "Lead Disclosure" showing what you did and didn't do for the property. If you're a landlord, there are a few more steps that you need to take. - Talk to your insurance company about having specific language written in your policy to insure against lead based paint claims. (They won't remove the "Lead" don't even ask. But they will pay if you put in the right liability claim.) - Have the tenant sign off on a disclosure. Provide information booklet on How to Live in a Property that may have Lead Based Paint. - Get rid of as much of the Lead Based Paint as possible. (Make sure you double check the window sills as well!) - Eliminate all Lead and get the property certified as 100% Led Free. Led is a real concern that has been documented to cause major issues if consumed too much. Although there's no right answer it all depends on what level of remediation you want to get into. As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ How to Buy investment Property when you're laid OFF https://youtu.be/fWevXC9ZuZ8
Views: 3744 Derosa Group
First Action Steps to Take When Learning to Wholesale Houses - Chat with Chatto 001
 
07:36
Hey Youtube, Welcome to our very first episode of "Chats with Chatto Wholesaling Etc."! This new series will introduce you into the world of wholesaling houses with practical tips that you can take action on and get started today. Often we're asked "How do I get started in wholesaling?". That's exactly what we're going to help you with in this series. Each week you'll take away one action step. If you follow these steps, you'll begin to see the results that you were looking for. Now let's get a deal! Today's Action Step Call 50 sellers! (Get comfortable on the Phone) FSBO Script: https://goo.gl/ZowGJA You might be wondering where you can find 50 sellers to call. Trust us, they're everywhere and the best part is that you can get started for FREE. The quickest and easiest way to do that is by finding "FSBO's" which stands for "For Sale By Owner". These are people who literally have their hand up saying "I want to sell my house". This is where you'll begin to practice and get comfortable on the phone. These "FSBO's" are spread out all across the country! Even if you don't plan on buying their house make the call anyway and begin to find your voice over the phone. Also we've included a script for you to use when you practice. This script does contain some tough questions but the goal is to ask the questions anyway and become comfortable with asking these types of questions. Here's the deal guys, practice on free leads to start, once you've built up your confidence, then take your new found skills to use on your paid leads. So take the first step this week! Get started! Either 1 of 2 things will happen. 1. You'll come up with excuses or reasons why you weren't successful or 2. You'll end up with results. So end up with results and not reasons. Hope this helps and good luck out there! Please send any questions you have to [email protected] Suggested Videos 21 Year Old Makes $23,000 on First Wholesale Deal! https://youtu.be/UkeUxkLQTFc
Views: 1154 Derosa Group
How to Remove a Bad Tenant (without having to evict!)
 
04:05
Ever wonder how to remove your bad tenant without having to evict? Let's discuss some options that you can use to take a more peaceful approach. My New Book "Raising Private Capital" is now Available now on Amazon http://bit.ly/RPCbook As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our popular videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s 21 Year Old Makes $23,000 on First Wholesale Deal https://youtu.be/UkeUxkLQTFc Chat with Chatto Episode 001 First Actions Steps to take Learning to Wholesale houses https://youtu.be/fzXubrnuGKM
Views: 66512 Derosa Group
21 Year Old Makes $23,000 on First Real Estate Wholesale Deal!
 
23:41
On today's special episode we have Matt McDonald a 21 year old who made $23,000 off his first wholesale deal! This is going to be an amazing episode that you won't want to miss. Also we'll be introducing Steve Chatto from Good Vibes Real Estate Solutions who will be a future contributor to our channel with his new show "Chat with Chatto Wholesaling Etc.". So if you're interested in learning how to wholesale houses, Chatto's your guy. Wholesaling Wednesdays Have questions on Wholesaling? Send in your questions to [email protected] New show series starts Wednesday February 7th. See you there! Questions for today's guest Matt McDonald? Contact him at [email protected] As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s The Pros and Cons of Using LLC for Rental Property https://www.youtube.com/watch?v=edHaGYXhH1I&t=24s
Views: 8254 Derosa Group
Inside Tour of a New Fix & Flip Project in Philadelphia
 
04:47
We are excited be partnering with Corsa Home Solutions on a fix and flip project in South Philadelphia. In today's video, Matt and Roberto take you through the property and share some plans we have for renovation. This project will be a 3 br/2 ba home. The plan is to do a full gut rehab on this property which will create an open floor plan. The kitchen will have shaker style cabinets, granite countertops, glass backsplash, and stainless steel appliances. The property is located in the Point Breeze neighborhood of Philadelphia. This upcoming neighborhood has been experiencing massive growth over the last few years. Check out Corsa by visiting their website: http://www.corsahomesolutions.com/ Check out DeRosa Group by visiting our website: www.derosagroup.com Thanks for watching! Happy Investing!
Views: 2789 Derosa Group
How to Renovate a Rental Property with Existing Tenants MM 083 with Matt Faircloth
 
03:46
Hey Youtube, Today's question comes from Ana, she just purchased her first multi family investment property. Congrats Ana!!! Ana is currently looking to increase rents and do some renovations to the property she just purchased. Which is great! Use those renovations to bring properties up to market value. She wants to increase rents by $350-$400 per month. The only thing is we don't know how many units the property has. So this is a scale issue. Depending on if she has 2, 10 or 100 units, this will set the stage for the conversations that will need to take place. Ana also mentions that she has no leases currently in place. Use this to your advantage in getting tenants to sign a new lease that'll get you closer market rates. So the real question is "Should I let tenants go?" and not renew leases. Letting tenants go will allow her to do the renovations necessary to bring the units up to market standards. So is it better to do renovations with tenants there or not in place? We find that it's better to do renovations when tenants aren't in place. Tenants won't care properly for the property and the amount of renovations that you have to do can become very problematic and difficult with tenants in place. Here's the deal. Odds are that someone is going to move out or you can take the worst performing tenant and push them out. Then you renovate that unit. Then go to your tenants let them know that you're renovating the units and show them what the model will be. From there you can have them renew and move into the renovated unit which will allow you to renovate another unit. Like a rotation. Give them an ultimatum, renew to a new unit or leave. The bottom line is, offer tenants renovated units, that you renovated vacant, then offer tenants to renew to those spaces. Hope this helps! Have a great and profitable week! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/ Find us on Facebook https://www.facebook.com/thederosagroup/ Learn More about The DeRosa Group by Checking out our suggested videos: How I bought a 18 Unit apartment with NO MONEY out of Pocket https://www.youtube.com/watch?v=3dDRVGYI1wg&t=14s How I turned a Duplex into 20 units https://www.youtube.com/watch?v=JzhkWhyssaM&t=1s How to Remove a Bad Tenant (without having to evict) https://www.youtube.com/watch?v=FnGZQOebixY&t=1s Tips for Hosting a successful Open House https://youtu.be/8DBtD1OcjKQ Best ways to Collect Rent From Tenants https://www.youtube.com/watch?v=iOeTxzDjXWY&t=3s
Views: 915 Derosa Group
Want to Buy an Apartment Building? Don't forget your Due Diligence Inspection!
 
03:12
Today Matt and his team are walking an apartment complex that we have under contract to purchase. In today's video, Matt shares some tips to consider when doing your due diligence inspection. Whether you are purchasing a duplex or an apartment building, due diligence is critical and can make or break your investment! As always, please email us any real estate questions to [email protected] and we will answer them on an upcoming episode! Learn more about The DeRosa Group at http://www.DeRosaGroup.com or on BiggerPockets.com - https://www.biggerpockets.com/renewsblog/author/mattfaircloth/ Matt & Liz, founders of DeRosa Group, were recently second-time guests on the BiggerPockets Podcast. Check it out: https://www.biggerpockets.com/renewsblog/bp-podcast-203-finding-deals-funding-contractors-mentors-matt-liz-faircloth/
Views: 1783 Derosa Group

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