10 Golden Rules To Becoming A Successful Real Estate Investor
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- čas přidán 29. 06. 2024
- Subscribe for more videos: @ThachNguyen
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Thach Nguyen has come a long way since arriving in America at age 4 with his parents, four brothers, and sister in 1975. Focus, drive, determination, and great mentors paved the way for him to go from a homeless refugee to a multi-millionaire.
Thach is the CEO & Founder of Thach Real Estate Group and principal of Springboard to Wealth. He is not only a seasoned realtor, investor, coach, author, and speaker, but also a proud ambassador of the American Dream. During his 30 years in the real estate industry, he has built more than 300 homes, townhouses, multifamily units and completed over 100 flips, and owns over 100 rental properties giving him over $100,000 a month in passive income. Thach and his team have assisted more than 1,500 families to create their own American Dream of home ownership, ranking him in the Top 1% of all real estate professionals nationwide.
Follow on Instagram: / thachnguyen
Timestamps:
0:00:00 Thach introduces the ten golden rules of investing in real estate.
0:00:23 Golden rule number one: Always buy a property at or below market value.
0:01:14 Golden rule number two: Buy the right type of property with a good layout.
0:02:19 Golden rule number three: Invest in the right location, preferably in the B and C markets.
0:03:21 Golden rule number four: Avoid buying on emotion and stick to the numbers.
0:04:08 Golden rule number five: Don't be afraid to pull the trigger and make a purchase.
0:04:58 Golden rule number six: Have reserves for unexpected expenses and emergencies.
0:05:48 Golden rule number seven: Avoid overleveraging your properties and maintain equity.
0:06:56 Golden rule number eight: Do not buy small houses for rentals; opt for three-bedroom properties.
0:08:24 Golden rule number nine: Don't flip everything; keep some properties as rentals for long-term wealth.
0:09:17 Golden rule number ten: Wealth comes from owning real estate, not just flipping it.
0:09:44 The importance of owning real estate for long-term wealth
0:10:09 Trading money for time as a measure of wealth
0:10:29 The goal of wealth is freedom, options, and choice - Jak na to + styl
People will have to accept reality that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. I now look towards the stock market to fuel my millionaire goal. Sure I'm not alone in my chain of thoughts.
U.S. stocks have historically been the best investment. Much safer than real estate. Treat it like real estate, don't panic sell and impulse buy.
I like both. But in my experience, most of the millionaires that I know have gained their wealth through diversified investments and they all had a sort of advisor helping out with informed decisions.
Agreed, advisors are ideal reps for investing jobs, and straight up! that's how I’ve stayed afloat for 5 years now, accruing over $1m in return on investment, after 100s of thousands invested. IMO, home prices will need to fall at least 40% before the market normalizes.
@@FranciszekPawal real estate prices exploded, interest rates exploded, but my wage the same, i'm screwed !! who is your advisor please, if you dont mind me asking? in dire need of portfolio restructuring
She goes by ‘’Katherine Nance Dietz’’ I suggest you look her up. To be honest, I almost didn't buy the, idea of letting someone handle growing my finance, but so glad I did.
just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
Very true, Despite having no prior lnvesting knowledge, I started lnvesting before the pandemic and pulled in a profit of approximately 950k that same year, In reality, all I was doing was getting professional advice
How can I participate in this? I sincerely aspire to establish a secure financial future and I am eager to participate. Who is the driving force behind your success?
I'd say a little due diligence " Dianne Sarah Olson" truly exceptional
Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks
I really appreciate the dedication in each video you post. To be successful in stock markets, crypto and so on, traders should understand the crossover between asset classes & liquidity flow. Ann Elizabeth Messer focuses on Multi-asset trading, a single strategy to manage risk, profit, and the code or the actual decision-making across multi-asset classes. Her skills set is top notch.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $1000 and after a week, we received $5900. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
she's mostly on Telegrams, with the user name.
I traded well on my Demo account but when I invested in to my main account i lost all my funds. Please i need an expert to assist me with my trading. It's frustrating how people loss funds in this trading, I really feel so bad.
It's very obvious that forex and crypto trading is one of the profitable money exchange services that elevates investors and their financial status.
It's a great idea to have a conversation with
financial advisors like Emily Jason to reshape you
portfolio.
I agree with you, I'm not here to converse for her but to testify just for what I'm sure of, she's trust worthy and best option ever seen..
I think.Its really needful for beginners not to settle for videos alone or they will see themselves losing all their money just like me when I newly started trading with this videos here on CZcams.
She's really a good investment advisor. I was privileged to attend some of her seminars. That is how I started my crypto investment 👏
I am 53 and retired at 50. 1 thing I did do to retire early was to get out of the 401K and IRA programs. Bought rental real-estate and I am now a Limited Partner in about 3500+ units. I do not work.
My husband and I live off of our 401K. We don't work. I recommend highly to everyone to build your 401K or Roth IRA's as an alternate revenue stream in retirement to your Social Security. An observation on 401K's is when it gets over 300K it starts to accelerate. When you get over 500K it can really accelerate as the stock market grows.
I learned about government action froma certified wealth manager in NY by monica mary strigle
learned about government action from a certified wealth manager in NY
Monica Mary Strigel
She explained the benefits of long-term Treasuries and alternative investments, Lately they been investing in solid start ups, bonds, digital currencies, precious metals with real backing, while manipulating the stock market decisions as influenced by congress, driven by year round events and consumer sentiment in the past half decade.
This administration has no idea how people are suffering, things are getting so much harder we can't take it no more. A lot of people are financially struggling to put food on the table and a roof over their head, I appreciate your advice Lucy . Imagine I invested $2,000 and got $10,600.
Getting Lucy Donna to help me really helped me clear all my debts. I started with what I have left and it's been the best decision I ever made.
You're right ! The very first time I tried, I invested $1000 and after a week, I received $5,500. That really helped us a lot to pay up our bills.
I also want to achieve this. How do I connect her please??
*SHE'S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME*
*@LUCYOWN*
Great video. Gerald Robert Hayton has been a game-changer for me when it comes to investing in REITs. His knowledge and practical tips have made it much easier for me to understand the intricacies of the market and manage my portfolio effectively. With his guidance, I've been able to make informed decisions and see real growth in my investments. Grateful for his expertise and ongoing support
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Have you guys seen the crazy prices of real estate lately?
It's getting harder and harder to afford a decent place.
Tell me about it. I've been saving for years and still can't afford a down payment.
You know who could help? Nelson Maynard Fisher.
Who's that?
He's a Chartered Financial Analyst (CFA) and he's amazing. He helped me make some smart investment decisions, and now I'm on track to buy my dream home.
Really? How?
Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
The best investment one can do right now is investing on real estate though stocks are good but ever since I swapped to real estate, I've seen so much difference.
I have been making a lot profit through real estate which has been the main source of my income.
I’m interested I want to move to real estate investment can you help me ?.
Sounds great! please I will appreciate your assistance on how to go about it, who's your coach and how good is your coach?
STEPHINE KOPP MEEKS is who i work with look her
Very proud of you to be a Vietnamese mentor and contributor to the community! Keep it up a good work and an awesome nugget👍👍👍
Thank you! Will do!
I’ve been an investor for over 15 years and of course watch a lot of content and look at data. This is one of the best and most applicable videos I’ve seen in a long time. It’s also nice to look at my portfolio , although small and conservative LTV and extra reserves , that I have followed these rules in my own acquisitions. Thanks thatch!!
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in couple months ago 2024.
The three immutable laws of real estate investing
1. Buy for cash flow
2. Secure long-term low leverage debt
3. Have adequate cash Reserves
thank you for these golden rules Thach !!! Appreciate your dedication and passion to create more great real estate investors like you
Hands down on of the best REI advices out there.
👊🏼☺️
I’m from Phuket Thailand. Now all the foreigners around the World can invest on the property in Phuket without coming here. I’m one of the agents from the development company.
Prolly my favorite video of yours so far! Thank you for the wisdom & insight!
the Ten Commandments of Real Estate investing..Awesome content...
I am very grateful to watch the video, thank you !
Greatest video ever made. Appreciate your hard work
Golden nuggets like always! Thanks for the insights
Thank you! I appreciate your teachings
great content, loved the useful info, also explained very well! keep it up!
You are legit;you explained everything from the bottom of your heart. I want to learn more about real estate. Thank you. I missed your webinar few days ago.
Thank you sir! Instant sub! So much knowledge and wisdom for someone like me who's planning to start RE investing, specifically BRRRR
Thanks Thach!
Great words of advice! Thanks
Thach dropping knowledge bombs!
Haymakers.
Keeping it 100%
Great rules to live by. Thank you.
Very good info, what I tell all my new investors/property owners....Im in Louisiana God Speed and good luck my friend.
A very refreshing voice in the real estate investing content game
So much real estate wisdom here
Thank you for the content!
I really like this video Thach. Thank you for sharing your wisdom. On a side note, rule # 1, it seems like in this market I saw people bidding up hundred of thousands dollar for a house and some how they are still ahead.
Loved the video! Especially your insights on the importance of having financial reserves for successful property ownership. For fellow multifamily investors out there, our channel is your go-to resource for valuable content and guidance.
Thach, love the content man. Hoping I can get to your level one day.
THANK YOU SO MUCH FOR YOUR WISDOM, I APPRECIATE YOU ❤
Awesome, thanks.
You are an inspiration Thach. Thank you for these rules. I’m new to investing and it’s not easy especially living below my means but slowly my partner and I will get there. We just need to commit and have the discipline. Too many distractions around us. So far we have one property under our name and we’ll try to buy one yearly 👊💪 ty again
Amazing creative & interesting content
Thank you so much
All great advice in a single video. Thanks @Thachnguyen
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k, but guess what? I put it all back and traded again and now I am rounding up close to a million.
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Patricia V Vesely.
She's a licensed broker here in the states
Great videos
Thanks thach
Thank you
These are very helpful rules to help new investors! Turnkey with a low investment is the best way in my opinion.
Rule number 1 don’t live in Canada cause rental properties are overpriced and you can’t make money ..!!
Viewing from 0man, Middleast
Thanks for you advice! Your stuff is legit! I’m
Having a hard time trying to find a trustworthy Real Estate agent. I have a hard time trusting any mention best interest as a new investor especially. Any suggestions?
Hi Tach I'm learning a lot with your videos thank you so much ! ! I live in Houston tx My house is pay off can I get full aquity or collateral to buy more houses ? 🏘
Thaaach 😃
Love
OG❤
Is it good to buy rental in another state ( I can’t afford to buy in California 😢)
How do you know if it’s B or C group
I intend to go into the realtor investment this year, and i would really appreciate it if someone could recommend platforms i could learn more from.
Are you able to still do this even if you went through a repo?
Hey Thach, I have a question for you or anyone who would like to answer, I’m 22 and been trying to wholesale since September 2022 but I always wanted to buy and keep before and just have passive income while working and eventually be free. I’ve been told that I should find my ATM that makes me money and put it in real estate. What do you guys think, is that true?
u need time to learn
Hai
What's a rambler?
I understand your concerns, and it's natural to be worried about the impact of economic factors on your retirement plans. The 2008 financial crisis indeed had a significant impact on many individuals' financial situations, and it's a valid concern to compare the challenges of that time with the current situation.
Given the impact of high prices on goods and services, it's important to reassess your retirement plan and consider potential adjustments. Here are some considerations that may be helpful:
It's true that the 2008 financial crisis presented unique challenges, especially in terms of market volatility and economic uncertainty. However, each period of economic disruption carries its own set of challenges and opportunities. It's essential to focus on the current situation and seek strategies that align with the present economic landscape.
@@KianShah146 Market volatility can indeed create concerns for those approaching retirement. It may be beneficial to review your investment portfolio and consider diversification strategies that align with your risk tolerance and retirement timeline. Additionally, consulting with a financial advisor who can provide insights into managing retirement savings during volatile periods might offer valuable guidance.
@@AidanShepherd78 Mind if I ask you to recommend this particular coach to you using their service?
@@_dr_ben_spell_castle I'm hesitant to make recommendations like this online so I can't drop her contact here, but you could look her up yourself and contact her if you wish. Her name is Leticia Zavala Perkins.
Who needs free list of grants to get their business off the ground must have an EIN or LLC and active bank to receive funds
They trynna keep up wit THACH....LOL...just kiddn
No sale. No sale. No sale. American Citizens can stop the madness by refusing to sell. Basic fact period.
I can afford to buy a 2 bedroom condo if I go for the 3 bedroom I’ll be struggling and killing myself out work I’m in California
Would you take the risk and go all in or play it safe with a condo
This is fucking ridiculous smdh it's like absolutely impossible. I literally grew up extremely poor, I had no father, got taken away into DCF, then somehow went back to my mother's at age 7, she was a alcoholic, druggie, never taught anything. School doesn't teach you any of this shit. Now 34, I have a basic job at a hotel as a janitor. I make 15 an hour, I have a 7 year old daughter. I live by myself and barely make enough to survive. Every single week I go atleast 2 days without eating so my daughter has a roof over her head and a meal for her. I'm sick of my life. I went to court and fought for my daughter. I spent every pennies for a lawyer. I'm sick of being at the bottom and these videos just confirm that I'll always be broke. I screwed up my credit when I was young, I don't have any emergency money, I swear I have 3 dollars in my bank account. Ha!!! What a joke! Life is so hard and so confusing. How tf could I ever get out of this hole!,!?? I work 2 jobs. Other job is side work for my landlord to knock off some rent money. But im not getting anywhere. N this rental investor, landlord, etc is out of the picture for me. Smh wish I had smart great parents who taught me something. Whatever
I disagree with #8,
Investing your life savings in a rental property without certainty of returns can be risky. It's crucial to thoroughly evaluate the investment potential before diving in. I've learned that making wise investments is key to building wealth. It's not just about investing money; it's about investing smartly to secure a prosperous future. Here's to making informed decisions and achieving financial success!
Absolutely, you're spot on! Thorough evaluation is essential before committing to any investment. How did you approach your investment decisions?
I just googled Angela and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get.
Help a brother out ??
You work for 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires.
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how ??
Thanks to my co-worker (Alex) who suggested Claudia vechi Nesse.
She's a licensed broker in the states 🇺🇸
After I raised up to 325k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸 also paid for my son's surgery (Oscar). Glory to God.shalom .
that's nice She makes you that much!! please is there a way to reach her services, I work 3 jobs and trying to pay off my debts for a while now!! Please
Great to see you guys talking about her, she changed the game
finding yourself a good broker is as same as finding a good wife, which you go as less stress,you get just enough with so much little effort at things.
I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Donald Kayla
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
The very first time we tried, we invested $1000 and after a week, we received $7500. That really helped us a lot to pay up our bills.
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
😱 sounds familiar, I have heard her name on several occasions.. and both her success stories in the wall Street journey!
she's mostly on Telegrams, using the user name.
Thach, have you ever thought of crossing the border and teach the Canadian in Vancouver, BC?
What's the best approach to get started? and how long do I wait before the lnvēstment can y!eld profits?
It doesn't matter how long you wait, for this markêt? Opportunities must come. Invest for the long haul. Don't get too greedy and don't get too scared.
It's important to make informed choices rather than relying on luck or impulse. it's best to partnēr with an advisor.
I personally make a steady income of 25-60k through hardcore ln√esting and save 20-30%, and guess what? I'm already partnered with one
I get it! I know the amazing perks of having a pro by your side, but I haven't found one for myself yet either.
I actually discovêred *Olivia Charlotte Oswald* on a CNBC interview, checked her out, and we started our partnership. You should definitely look her up, she could be a great partnêr for you too.
Thank you for offering your advice. Definitely grabbing this opportunity. Just found the webpage
I'm happy to come across these recommendations. I work with her and I am impressed with the thoroughness and professionalism of the investment diligence packages she provides.
Great video!!!
Anyone think he sounds like Teddy Atlas? 😂
How do you know if it’s B or C group