How I Bought This 9 Unit With No Money Out Of Pocket...
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The video discusses the speaker's experience with purchasing a nine-unit apartment complex in a rough area without using any of their own money. Despite red flags, the speaker and their team bought the property anyway and partnered with a private lender for the down payment. The speaker emphasizes the importance of buying the property right and doing due diligence, even if everything else is not done perfectly. They also discuss the power of real estate and time, and how owning a rented property with a mortgage can be extremely powerful over time. The speaker then discusses the long-term BRRRR method and how they have used it to purchase multiple properties without using any of their own money.
The speaker discusses how they were able to use the cash flow from the nine-unit apartment complex to fix it up over four years and how they were able to refinance the property for $360,000 after it appraised for $450,000. They paid off their private lender and the original mortgage, leaving them with $120,000 in tax-free money. The speaker emphasizes the importance of timing and real estate working together, and how the value of the property has exploded since they purchased it due to consistent rent and improvements in the area. They also discuss how they have $205,000 in equity in the property and cash flow about $1,500 net positive every month.
The speaker encourages viewers to not get discouraged if their first few deals don't go perfectly, as long as they learn lessons along the way. The speaker's goal is to provide viewers with good information to help them create wealth and control their future using real estate.
The video discusses the speaker's experience with purchasing a nine-unit apartment complex in a roug