Confronting Alex Sanchez From Millennial Money – Property Tour

Confronting Alex Sanchez From Millennial Money – Property Tour

Hey guys what’s going on welcome once
again to another video here at the Kwak Brothers channel guys today we have a
really exciting video I know I don’t look like Daniel I don’t look like Sam
I’m actually filling in because we want to bring as much content house to you
guys my name is Joel Montiel one of the right-hand guys but today guys we
got a special guest which I’ll introduce you with he just finished read having
this condo and we’re just gonna go ahead and check it out and see how he’s doing already he was actually featured on one
of the most viewed videos on CNBC Millenial Money and most importantly
the Graham Stephan show right because he’s now got that top tier but guys
today we got Alex and just here I’m Warren and we’re excited cuz he just
finished rehabing this condo we’re gonna look at it but yeah I’ll see
what happens man no man thanks for reaching out to me yeah I’m going to
collaborate with you guys and I hope you can make more collaborations in the
future yeah no for sure it’s plenty of the way that we met because I literally
just gonna pop on Instagram after I saw the video blog and I got an ass man like
after putting all your finances out to the world is to see like do you have any
other cousins reaching out to you asking for money I hate to say it yeah definitely I have
and you know pick out here yeah they kind of find ways to put your yeah yeah
for certain how’s it been like I know Graham mentioned this too and then you mentioned
it hasn’t been a big deal like after it has anyone changed like have you seen
more people reach out to you person who say hey like we’re super super just you
know inspired by what you’re doing itself yeah I’ve actually every day you
know I think I would have one person contact me through Instagram or Facebook
you know say that they’re going babe up I stood out that inspired they want to
get started they actually they’re interested in what I do with the job so
I do I give a poet I give a pointers about you out there you go that’s
awesome the guys look as you can kind of tell we’re in this empty space and this
is just one of the properties actually finished we happen which we’ll get to
because we’re gonna go ahead and talk about some of his investment strategy as
you guys know that our channels really focus on investing but we’re going to
talk about some millennial money right and just our age and our era and how
people treat many things that nature so this specific place is this town right
at the condo it’s too bad my bath and then I would like to ask like the stats
and what it is so the dogs yeah that number so what did you put into it
what’s the cash flow and what was your return the Tigana the purchase price was
110,000 dollars yeah I put 20% down the conventional
financing that was about $23,000 for my down payment yeah
closing costs were pretty much covered because they did ask sellers to kill
okay to paid 3500 the closing costs so guys you can always negotiate so learn
from that right he just saved 3500 more than three months of rent yeah and
you take a look at yes oh yeah everything’s negotiable you can’t let
them know that you’re no but you’re desperate for the place because at the
end of the day there’s so many deals out there you know so if it doesn’t work out
you see what sticks so twenty three thousand ironically put in about ten
thousand dollars of work for the place and that’s because I didn’t bathe him
for a couple months so a couple months of the war engages up like that and I
took my sweet time fixing it up so yeah it was roughly 32 grand into the deal
okay and I’m expecting it to cash flow around five six hundred dollars really
yeah guys that’s that’s a pretty good return or the amount so what is that in
the turnip rocks if so it depends so it depends on how many maintenance requests
I get out there so we have you between five and six hundred well I would say
roughly close to twenty percent if not yeah so there you go and guys one of the
things I wanted to ask him and we’ll show he doesn’t really property like as
we go on but no one is talking about condoms it’s I think it’s actually one
of those things that people power or like stay away from because of the
association to go back to the 20% and you can get it’s time to run as that and
it sounds good why did you go for a condom so I don’t
have anything specific that I want and I actually told myself I would never buy a
condom yes because I thought there was no
dissociation deuces was gay but at the end of the day when you do max calculate
association dues and taxes mortgage interest insurance the numbers don’t lie
so the oven if your association dues you know you gotta pay for that
yeah as long as the notice makes sense of you’re good and I always go for a
place that doesn’t have high okay – yeah so I thought a good dealer was
toast at home yeah I figured why not Yogi’s it’s not because I want to can do
I just said the numbers make sense – to make sense and I know you said you’re
from what Chicago is everyone else as well and that’s one of the things that
we’re actually just talking about especially when people are getting
started like there’s nothing wrong going to your backyard I know everyone talks
about it is how it is in other states and stuff like that but from talking to
a lot of investors that they always seem to let you start in their backyard and
yeah and it’s hard to interrupt so the Midwest is a really good area to
investment so I always recommend if you’re from my area and best in your
backyard because you’ll find deals in your backyard unless you don’t want to
mess in the high roads less cash flow and put down yeah in the Midwest I think
the Midwest has the best casual so if you’re Cal you here in LA New York you
don’t invest in your back and that’s the thing because there’s like there’s
almost no way you can capture five dollars from a problem that you paid
under from two thousand people in New York or California currently what is he
but what is it property there’s not any properties on the deck price yeah in
that area and I want to show them the kickstand how I flex the reap up you did
is we kind of walk around I want you guys to see the kitchen I know a lot of
your buddies we’re talking about you know why don’t you replace cabinets why
did you do every single detail down to the thing and you were making a great
point but you don’t need to when you know the renters really aren’t gonna
take too much look into that then talk a little bit about that like what got you
into but Moe’s arena process so you have to look at when you rehab in a place for
a rental property what’s gonna pay and what’s not gonna
pay yeah there was no point in me changing out the cabinets replacing them
you know spending thousands of dollars on new cabinets for a rental property
the tenants aren’t going to know that I put in two thousand dollars and they’re
not gonna pay more rent just because I put a new cabin yeah
oh you got a deuce for cabinets refinish them paint up put new hinges and knobs
so some repairs you can’t go too extreme on yeah because you’re not gonna get to
return yeah it’s gonna be a hell of a lot of people a lot of my friends
they’re like oh you do this do that you know this well it’s like it’s not a it’s
not a flip because the flip is different right – yeah because that and I think to
a lot of what we do see just like if you watch HGTV
you know HGTV and Joanne and you know and then you see like these beautiful
properties and of course like you see their fake numbers come on let’s be
realistic they’re not real right into the fact that you know all those numbers
are power to make but realistically speaking you can make a lot of money
with making something look simple clean just easy and affordable yeah simple
clean we do all our rentals the same colors now I keep it neutral colors
clean colors and I don’t go with the cheapest stuff I’ve got some things you
can go cheap on and some things you can’t I can’t go cheap on paint you want
good quality paint that’s easy to clean yeah you know what your next time yeah
no for sure now I want to walk over to I think the best things are over there
yeah there’s one of these you want to lead us into that take a look at that
so are they both the same size no this is Matthew so as you can see I need cheeks the
floor in this bedroom yeah although their budget because like
I said this is not your bed so I’m gonna keep it and once you know what’s this
was looking bad unify the whole place and Hector and yourself a great man like
when you think about it this one’s bedroom they might have a garage there
were some tough stuff like that if I’m gonna get more ROI you know what’s the
point of it and just look like crap if this is dirty carpet it’s gone yeah this
airs actually had dirty carpet there’s too much to it why like if you look at
the place you think it’s simple ten great yeah but things hang out man yeah
because it wasn’t just myself for its next time because I know what you work a
lot you got doing like freaking insane amount of overtime you guys have to
watch this video and we see like this guy works like I had to pay him for his
time to come here and I’m putting yeah but he works a lot next time or because
we want to expand like do you plan on hiring out next time some stuff I got to
do like there’s a lot of people who get into it they just love doing it right
they look pretty happy with painting they like seeing the process of getting
something ugly turn you in face so do you plan on you don’t want higher morale
or are you certain muscle since yourself well I’m gonna do the things myself
until I get to that tipping point where like that’s just too much for me I think
you know for properties that I know I can still manage it myself
you know but I think once I had like 10 properties gotcha I can’t be doing this
myself or once I start moving into like multi-family housing then I’m definitely
for this one I shouldn’t I shouldn’t I wasted three months with this yeah so if
I would paint someone I would have had this property demo to meet for three
weeks there’s a balance like yes so in essence I might hire someone out for the
next project this is the second venture he writes a little bit smaller but that
means same thing before so great everything looks great when you set
these doors give you a bit of issues so yeah these closet doors as you can see
they’re pretty ugly and up getting a bit there’s no hiding it been pretty ugly
and then there eight-foot doors so the opening here is not your standard closet
door opening which means a lot of money and a lot of time to replace these doors
if I wanted to get these sized doors so the that leads me to the hallway the
hallway I actually the hallway had the same doors okay oddly they weren’t
opening they were dirty broken I actually had a friend them down you know
more modern it’s these obviously are ugly well like I said I wasn’t going to
get a higher 100 bucks more friends and they’re not terrible I mean for people
that are here temporarily as a renters who want to do the best to give you the
best place possible at the same time it gets the job done and it doesn’t look as
bad as I feel like you think it does yeah yeah you know why at the end of the
day you know 95 percent of the place is great it’s right right yeah the other
day this is one of the best units in this neighborhood yeah I think they’re
getting good quality car body clean area to the other places cleaning like you
know this is gonna come with it they’re not you know most runners although you
want to all the time they’re not always going to treat it like it’s their own
place cumberly and so you don’t want to make
it the best new place out because you can have some mistakes these day that’s
another thing when you don’t renovate with high-end stuff because as much as
you think that they’re gonna take care of your place like you will because it’s
yours yeah tenants don’t care yeah you know they’re gonna slam doors they’re
gonna they’re gonna do their thing they’re it’s not theirs when something
is yours you take care of your so you don’t so you don’t want to renovate the
property with marble countertops yeah yeah it depends on the area to this area
is not a high-end area and you’re investing in the high-end area then yeah
you do go come to 100% and you know the last thing you gotta check out is a
bathroom you know simple easy yeah the bathroom I just I just I was replaced
the vanities of the mayors and the lights and then the tile I saw that the
towel was still good so all I did was paint the grout and give it a fresh coat
of paint that’s it whatever’s working it whatever’s working
stays with it’s not working goes out or gets refinished I mean I took there so
these are the doors I was talking about these were eight-foot doors as well they
were like the ones when you reuse that right I did not reuse them I bought new
ones but these new ones are short Oh gotcha Harley 780 inch doors these are
the standard doors so what I had to do is I had a frame yeah and fill in with
tribal gotcha because these were standard these the
openings here all the way already our laptops I don’t want to I’m in on the
details I know we have a lot of our viewers that are already a lot of know
do you guys know but he’s actually 24 and I
you guys will never know but we’re both about saying look young what would you
say for like people that want to get into it into investment real estate
because you see like it’s so popular right now but like do one of the rare
people that are actually doing it because a lot of people like to talk a
little mix a lot right so what would you suggest for those people that actually
want to take that step from thinking their real estate investors to actually
going out and getting property so ultimately the best learning experience
is doing it because I know I learned to real estate for like four years you know
is that I have the money and quite frankly I’ve never been passionate about
doing like the zero money down yeah which I know that your channel focuses a
lot on that and I like to learn more yeah of course it’s just something that
way yeah yeah so I spent four years so you know money
and learning about real estate books YouTube whatever but eventually you
don’t learn as much as you do until you jump in and it’s not as scary as you
think you know especially it being young you can take a lot more risk because if
you lose it all who cares you know your whole lifetime to work I understand if
you’re a little bit older then yeah your risk tolerance is a lot less but now go
for it jump for it you’ll never lose it all because no matter what real estate
will sell for something yeah so even if it’s not stocks that can go down to zero
and if you lose if you lose something at least you you walk out with something it
an expensive learning mix yeah to get nothing no for sure and yeah and for
those who are watching our Channel and like he mentioned something great and I
know Steve Harvey talks about this a lot was huge man Steve Harvey he talks about
just like taking that leap of faith and it’s so true because like I almost got
that wouldn’t win for me I think just with everything with a bunch of
I’ve made if I can get that nervous being should they do it and if you want
to back out right and there’s always going to be that thing sometimes it just
has common point where he just got the job right you just got to do it just
kind of jump and guys we don’t want to put out content if you guys aren’t gonna
take action if you guys haven’t done anything other than you know eat hot
cheetos and watch this channel you guys gonna press pause exit and go do
something right go network go go try to meet people as well just watching our
channel so we use this as a tool so you guys can go ahead and take that action
and you can become an expert to go ahead and do those things and so that’s
amazing thank you guys so much for watching I know next video will go ahead
and have Daniel or Sam back but as I mentioned we’re subs to me because we
just wanna go ahead and put some content out in guys most importantly please
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got some great ideas he’s got some good stuff coming up for so guys thank you so
much for watching and until the next

8 thoughts on “Confronting Alex Sanchez From Millennial Money – Property Tour

  1. The person filming the video should point to the area they are talking about instead of the movement of the 2 guys talking .

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