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Uncle G brings it for free every Monday with captain Ryan. Today on the show Grant advises to not chase your budget. Finances are won on offence. When you don’t have money, you need to get other people’s money. Who’s got your money? Don’t buy deals you wouldn’t look at if you had a bunch of money.
The fact is, we all get stuck finding money no matter how rich you are, so the thing to keep in mind is the deal is what matters, not how much money you have. Most people do deals based on how much money they have. There is no such thing as no money down because you will have to exchange something with them—sooner or later the money will have to come from somewhere. Where can you go to raise money? It’s out there, you just have to find it. Act as a broker and act like you know what you’re doing.
Here are 3 things to ask before going into any deal:
1.Ask a woman to tell you how she felt around the property. Just like when you go into a room, you know how it feels. How does the property feel to you? This is subjective, but ask yourself this.
2.Go over the numbers, the T12. This is objective. Do the numbers add up and make sense?
3.Go look at worst case scenario. Go look at the worst year ever. Will it still break even if another 2008 happens?
I really love all your video make change how i think about money. Well, I know i work for hotel in Bali, Indonesia in small island called Nusa Penida but this island has good progress, many foreigners now coming here. And hotel owner offer me his land cause i really want to have land here and i know exactly for 1,5 years how the progress here.
He sell the land with really good deal cause I make good business ( good revenue ) for him, I work as a sales in his hotel.
He sell 1,000 dollars per acre to me and i want to take 20 acre but he want to offer 40 acre to me and i only have money for 20 acre land. Do you think I should go to bank take loan for other 20 acre land ? Otherwise i will lose this chance
Really need your suggest
THANK YOU GRANT, DUDE YOU ARE MY INSPIRATION! I brought your closers product and it has helped me so far. I got to live with it a little while longer. I make about $120,000 average (give or take), and feel like I'm making $40,000. I am already 58 years young, I don't have a lot of time before I wish to retire, I'm a songwriter & producer, I'll like to have some fun before I get too old. Help!
Where do get the money from to fix up the property when you first buy it? Also, can you do a video about figuring out the numbers to manage and/or fix up a property? How do you go by managing your properties? Do you use a management company?
What’s a good income/investment ratio in order to expect return worth investing without barely making it by until the investment starts kicking in to invest more? Say I’m making 5-8k a month but want to invest would I save over a 6 month period withholding 40% income at a mid range of 6500 a month leaving me with 2600 every month multiplied by 6 ending in 15600. Even at say 11-12% with your 6% then 65/35 that’s around 1716 income.. what is the goal to stack more of the starting flow of cash to make the investments worth doing? Hopefully that makes sense
Your really inspiring, I wish I had the money to take the time to meet you at one of your events I respect the knowledge your giving us it’s crazy how much I’ve learned in just 1 hour I’m middleclass 25 bad credit kinda rough life thinking bout just giving up, but god put you in my way and showed me that there’s more in life , us people are just so ignorant and blind it’s crazy thanks a lot for your time !!!!! May God Keep blessing you 🙌🏻🙌🏻🙌🏻🙌🏻
Question...unlike what the comments say wouldnt it be smarter for you to to what Bill is doing, start small with one house, work your up to however many, sell houses in a bundle then go to the next investment instead of saving a shit ton of money like 100k and up to just start out? Also should you get a real estate license or no?
The last calculation on the 64 units where he did the NOI minus the 156k to get the $115k, what is that 115k figure? I understand he took the 272k which is yearly takeaway. But subtracting the 58%from the 2,700,000 does what?
Amazing episode Grant. If somebody had access to $3M of private funds, how would you recommend setting up the syndication? Can you explain more about the corporate structure?
I understand and agree when you say the private money should get all the returns in the first year since they’re funding the project , and profits above x% are split 65/35% , but I’d like to learn more about how you would get started - how much do you expect legal fees to cost to make a contract for this syndication?
How about a former old folks home. 20 units. Only 3 units have kitchens. Nothing is currently rented out. Built in 1912, brick, nice looking. Good location, small town in need of apt's. Do you only buy apt. complexes that have people renting out rooms? Planning on looking at it next week. Thanks brother...keep them videos coming!
No Grant, I don't know ANYONE that has $400k, much less someone that would lend that to me. I think you have some good things to say, but you should be more honest about how hard it is to do. Instead of trying to convince everyone it's all their fault for not thinking big enough.
hi Mr grant i am 17yrs am from mauritius my dad has built 8 appartments near the beach and rent them all to foreign peoples and the business is working very well.what do you think is more profitable to build it yourself and then rent it or to buy already built property and then rent it.thanks Mr Grant😊
yall realy find it hard understanding this. If the financial lender finds the deal worthy they'l definitely give you the money and advice if need be. That deal alone is the security attached to the loan
All of this is completely new to me. Its hard for me to follow all the terminology and numbers. I feel like I'm slowly getting it. I know one thing for sure though, I want to learn how to do this and do it. Are there any videos or books by Uncle G that cover everything you need to know if you're a complete beginner and all of this is a foreign language to you?
If not interested in other investors. Understanding the management need. Is there any other reasons its bad to do a 4 or 6 unit being goal is around $2,400 month cash flow? Living in a area that 800 to 900 per month.
I just watch your first video , I have zero dollars, no credit , live at home with Mom , drive Uber for a living, just came out of bankruptcy in February 2018, I live in Canada, my only owing is my car , I finance it, and I have second car which is for the kids that's it, if have $2000 save.. my mom as a good property she is retiring next year. What can I do to turn my life in your direction? I want a change Brother help me
Grant, what would you do.?....First time investor. I am blessed to have 120k liquid, and a 80k condo owned outright which I live in.
where to I start / what do I do to make it to the multimillionaire list?
AWESOME video! It was great to finally be able to figure out how you worked the numbers in your deals! But I have a question that I'm not sure was addressed... Where in your numbers from the example you started at 42 minutes... the one with the 64 units and the CAP of 7.25% do you factor in the realtor's commission? At a 3% commission on a purchase price of 3.7 mil... that works out to $111,000. Is that factored into the .52 (at 53 minutes and 50 seconds) or is it factored into the .058 (at 57 minutes and 9 seconds)??? Or is it factored into your numbers at all?
Also... if you are paying high interest rates to other investors, AND paying off loans for reno's... and their interest... at what point do you make money on the deal? Do you make it in the spread of rents from before you reno the place to after? Do you make your money when you sell??? (but then you have to pay more realtor fees). Do you take some of the loan money for reno's like Russ Whitney? Or do you just get your investors and loans paid off as quickly as possible and then start making money a few years down the line when they are paid off?
I compared your numbers to a 33 unit apartment block in Arizona and did the exact same calculations that you did on the 64 unit deal in SC... I tried to get this 33 unit place a year ago but the owner wouldn't come down in price... now it is back on the market with a higher price, same CAP rate (8%). The asking price is 1.685 million, has an NOI of $126,000, debt payments using your calculations of $68,000/yr... meaning $58,000 profit with a return on a $400,000 down of 14.5%. My underwriter wouldn't go any higher than 1.1 mil last year because the property could not justify the old price of 1.46 mil because of low rents and moderately high vacancy rates... even though the building is in good shape... (The landlord is a dentist in LA). They say they are raising rents but... really??? I had my agent take me to the building and check it out... it was pretty good I thought... and I still think it is a pretty good but what do you think of it based on what I have said?
Sorry for writing so much... but thank you so much for all you do... I LOVE your energy and passion!!! And your information has blown my mind and rekindled my desire to grow! Is there ANY possibility I could shadow you for a few weeks in August 2018? (I have August booked in Europe but would cancel my trip IN A FRACTION OF A SECOND to follow you around!!! I would ask lots of questions BUT I WOULD NOT BE A PROBLEM!!! I'm positive, and hard working and am not above cleaning a bunch of dirty toilets or getting coffee! Shit... I would even take a leave of absence from work if you would let me follow you around for a while and keep learning!!!
Thanks in advance!
I make 20k - 25k a year, I'm 22 living with parents still. I understand when you say don't look at your budget but look for the deal. the bank will never lend me 500k per say and would just laugh and say come back when you make 100k + a year.
Grant Cardone I have a question, what do you think is better to get a loan interest only instead conventional? To buy A property And after 5 years refinance and get some equity to invest to other property? I heard this concept but I know you are the correct person to ask about this. Thank you so much Uncle G.
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The level of manual tasks, duplication and non-value added activities in the payroll process often prevent staff from providing the reports that management require on a timely basis.
The best practice for providing management information that is timely, useful and relevant is automating, simplifying and standardising as many processes and tasks as possible, to eliminate unnecessary complexity and inconsistencies. This will reduce opportunities for error or fraud and make it easier to track the quantity and quality of information flowing to payroll.
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If you do not feel confident in your reporting capabilities or would like to improve your reports, technology could be a valuable ally providing master data that is clean, up to date and which can be relied upon.
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