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The ULTIMATE Beginner's Guide to Investing in Real Estate Step-By-Step

The ULTIMATE Beginner's Guide to Investing in Real Estate Step-By-Step



Here’s a Real Estate beginner tutorial where I can really cover the blueprints and outline the basics of what’s needed in order to prepare for, and actually invest in real estate. Enjoy! Snapchat/Instagram: GPStephan

Join the private Real Estate Facebook Group:
https://www.facebook.com/groups/therealestatemillionairemastermind/

The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $120 million in sales: https://goo.gl/UFpi4c

Step 1: BUILD YOUR CREDIT. This is one of those steps that you can can do NOW. If you’re watching this and you don’t already have a credit card, when you’re done with this video, watch this:

Step 2: SAVE YOUR MONEY. The reality is that you can’t invest in real estate with no money down, no income, no credit…it just doesn’t happen. So this means that in order to save money, not only will you be required to live somewhat frugally so you don’t spend everything you make, but you will need to MAKE MONEY. I know this sounds common sense, but it’s at least every day that I get people asking how they can buy real estate without having any money…it doesn’t happen.

Step 3: SHOW YOUR INCOME on a tax return. his means that you can’t just have one great month on Shopify and then expect to use that as a down payment…lenders want to see consistent, stable income before they give you a loan.

Step 4: Get prequalified. It’s as easy as going to a few major banks, having them run your credit, giving them your tax returns, bank statements, and some other minor information…and they will give you a pre-approval amount based off those numbers. You can then take that pre-approval and shop that around a few other banks, getting them to match or beat those terms.

Step 5: LOOK AT EVERYTHING IN THE MARKET YOU WANT TO BUY IN. Do your research. Find out which areas you feel are undervalued and where you feel people will be moving to. Drive around on weekends through every street and neighborhood. See every open house on a Saturday and Sunday within your price range, plus maybe a few hundred grand so you know what’s out there. The more you see, the better you’ll be able to recognize a good deal when it comes up.

Step 6: Make offers on places you feel are a good deal. Know your price, know what it’s worth, and have patience. It’s more important to get the right property at a fair price than wait years trying to find the unicorn of a deal.

Step 7: Do your inspections. I usually tell my clients to do all the inspections they can, and usually it’ll be a break even when you re-negotiate a credit with the seller. I also take it a step further and also walk two contractors through the unit who will give me a free bid on how much things cost to repair. This way, I know everything that’s “wrong” from a cosmetic standpoint and exactly how much it’ll cost to fix.

Step 8: Close on the property. In the interim here, you’ll be speaking with your lender, getting in all the information they request from you, do an appraisal on the property to make sure it’s worth what you’re paying, and you close. Once the property is yours, this is where the fun begins!

Step 9: Do minor renovations. Most people ask “where do you find your contractors?!” And my answer to this has always been Word of mouth, and yelp. Also make sure to get various bids to understand the costs associated with what you want to do, never just hire the first person.

Step 10: Rent it out. Here’s how I post my ads on craigslist:

For business inquiries or one-on-one real estate investing/real estate agent consulting or coaching, you can reach me at GrahamStephanBusiness@gmail.com

Suggested reading:
The Millionaire Real Estate Agent: http://goo.gl/TPTSVC
Your money or your life: https://goo.gl/fmlaJR
The Millionaire Real Estate Investor: https://goo.gl/sV9xtl
How to Win Friends and Influence People: https://goo.gl/1f3Meq
Think and grow rich: https://goo.gl/SSKlyu
Awaken the giant within: https://goo.gl/niIAEI
The Book on Rental Property Investing: https://goo.gl/qtJqFq

Favorite Credit Cards:
Chase Sapphire Reserve – https://goo.gl/sT68EC
American Express Platinum – https://goo.gl/C9n4e3

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44 thoughts on “The ULTIMATE Beginner's Guide to Investing in Real Estate Step-By-Step

  1. Andy Yu

    Great Video, thanks for sharing all this!
    I recently started watching your videos and finding houses around at the same time.

    Would you please explain why:
    1. some houses/apartments are very cheap (100K) in an expensive (600k+) neighborhood?
    closest example: https://www.redfin.com/CA/South-San-Francisco/1488-El-Camino-Real-94080/unit-115/home/21967818?utm_source=ios_share&utm_medium=share&utm_nooverride=1&utm_content=link&fbclid=IwAR2g6jYeFVHkg2MAtyBmbmp_gm52iOR_MY3LN2g_USzqmUyoSRFeKO3VRHo

    2. sometimes I saw a house sale history was ,say, 600k in 2016, 800k in 2017, 1m in 2018, and finally on sale less than 100k in 2019 ?!
    closest example: https://www.coldwellbankerhomes.com/ca/millbrae/119-park-blvd/pid_28332455/

    are these just normal or dirty business/trick inside?

  2. Gabriel Bennett

    So are you saying that buying a house subject to doesnt exist?? Or that there aren't private money lenders in any area?? Someone help me because I'm not sure if people are just making up these no money no credit down or if people just don't fully understand how done.. commercial yes but residential I have my doubts that it's not possible..

  3. Frenchy Alicea

    I bought my 1st home at 21 for 57k sold for 187k, 2nd home 107k and sold for 250k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc…it is possible and very lucrative as long as all steps and details are followed.

  4. Tanya P

    Hi great content!

    I wanting to invest in real estate. I have what is needed, but I live in the Silicon Valley CA where the house prices are ridiculously high. So instead, I’m thinking to invest in one of Mexico’s popular beach destinations. Any insight or suggestions on investing out of the country?

    Thanks!

  5. MrFelixify

    I hate living in semi communist Norway where the government have implemented laws and rules to make this literally impossible for the regular joe. For example, to buy a secondary house or appartment that you are not going to live in, you need 40% for down payment Also. even if you own an apartment there are no guarantee you are allowed to rent it out. a "borettslag" kind of a committee for the apartment complex decide if you are allowed to or not. not only that, it's only for 2 years then you need to apply for permission again. If you already don't have millions to put as down payment on a house in a already ridiculously expensive real estate market, or have hundreds of millions to buy whole apartment complex or become a developer, you are always going have to stay at your shitty job making an average income.

  6. Sean Z

    I lucked out on my places, 1st place was a woman going through a divorce and couldnt afford the mortgage anymore. My mortgage final approval came in at 20k less than my initial offer and she accepted it to sell asap. 😁 Second place is a house that was left to a young girl, around 20, in a will and her family is selling it asap just to give her the cash.

  7. DominicMV

    Here's a question for you, maybe you answered it in another video , but how do you figure out what you're planning to rent the property out for, what numbers you need to calculate, other then the mortgage and home owners insurance, how much do you put away for major repairs? I imagine it would fall under income tax so do you increase the rent by an extra 20% for Uncle Sam?

    I'm sorry if these are dumb questions XD.

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