How to buy your first rental property, even if you are broke.
Did you know that you are 10 times more likely to become a millionaire if you own even just one
rental property? Did you know that most of the US tax code is designed for real estate
investors into our benefit? Well, it's all true, and now is the time for you to get in this game,
and I'm going to tell you exactly how you get that done because now is the time. Let's go.
I'm going to share with you the fastest way to buy your first rental property with equity on day one.
I'm going to share with you the big secret on how to get rental properties without using your social
security number. And if you stay to the end, I'm going to share with you a major secret that no one
is talking about. There are so many benefits to owning real estate. Obviously, being a real estate
entrepreneur has changed my life and turned me in from working every day in a corporate job to a
multimillionaire because real estate is the number one way to wealth. It provides you with passive
income from your rental properties, or you can sell the properties and have active incomes and
get lump sums of cash from selling off properties that you've owned just a few years. Additionally,
it improves your net worth. Literally, I was a millionaire on paper before I ever quit my job
because I had rental properties and there are so many tax deductions as a real estate investors.
Literally, the tax code is designed to help you get rental properties because you get to write
off all of the expenses for the rental properties. There's depreciation that you get to write off,
and just so many things when it comes to investing in real estate that the tax benefits
are incredible. So this not only helps you make more money because obviously you have rental
properties bringing in cash, you have lump sums of cash when you sell those properties, but you
also get to keep more of the money that you make because it's in real estate and the tax code is
designed to help you do that. So now that you know need rental properties, let me tell you how you
get one. So there are three major ways to get your first rental property, even if you're broke and
I'm going to give you them from good, better, and best because they're all great ways to get real
estate and they all will work and you can do them while you're broke. But again, I'm going to list
them out from good, better, and best. So let's get to it. So here's a good way to get real estate if
you don't own any real estate, if for example, you are a newbie investor, you're just a person and
you own no real estate whatsoever, this is the perfect time to start investing in real estate
because you can buy your first rental property as your primary residence. Yeah, let me explain this
to you. So most of us know that you can buy real estate with only putting down a small percentage,
and in some cases you don't have to put any money down if you plan to live in the property. Now,
I know I said rental property, but think about this. If you start thinking like a real estate
investor and you are buying your first home, you can literally put down no money or even as little
as 3% moving to that property, living it for a couple of months, a year, however long you decide,
and then that will be your first rental property, okay? You'll move out of it and then you'll get
more properties and this is how most people start in real estate. Did you know that most people's
first rental property is the house that they live in, a house that they just bought to live in with
their family? But the problem is most people do not intentionally think that this is going to be
a rental property so they don't buy it in the right neighborhood. They don't buy it with the
thought, that it's going to be a rental property and this is to make the most amount of money,
things like that. They usually just bought it based on where they wanted to live. Maybe it was
close to their job or it was in a good school district or something silly that really didn't
necessarily have to do with how much the property was going to go up in value. But what I'm going
to teach you, you are now equipped with knowledge that most people do not have. You literally can
buy your first property that you plan to live in with the mindset that this is going to be a rental
property, right? So now you're buying it a lot differently. You're not going to be living in that
property five years, six years. I'm going to be moving out of this property and turning it into a
rental property. So I'm going to buy this property in an area that I know is going to rent for the
most amount of money. For example, maybe I'm not going to get this property way out in the suburbs
because it's near my job. Maybe I will get a property that's closer to the city because I know
those properties go up in value the most, just for an example. So that's the first way, that's good,
and that's an easy way to get your first rental property with no money down or as little as 3%
down using a traditional mortgage. And with down payment assistance programs, you can literally
get a mortgage and put no money down and have your first house that you know is going to be
your rental property. So that's number one. Let me give you number two because this gets better as I
go along. Number two, better house hacking. Yes, this is when you buy a multi-family property and
you rent the property out to other tenants where you live in the property as well. For example,
say you buy just a two unit. Now again, you can buy a two unit, a three unit, or a four unit using
a traditional mortgage. So that same thing that I told you that was good that you can put down just
3% or no money, you can do that up to four units, okay? Up to four units is considered a single
family home. So you can have a four unit, for example, and rent out the other three units and
live in one. Now, I promise you, if you do that, most likely you are going to be very profitable.
Trust me, I have multi-unit properties and they do very well. Even if you started small and you
got just a duplex for example, and you have one side that you live in or you live downstairs in
the upstairs level, I'll show you, our duplex can be rented out. Additionally, you can do
even different things. You can rent one unit out as a long-term rental and then rent the upstairs
unit out as an Airbnb or vice versa. You can do so many things with multi-family properties.
You literally can rent live in one, do long-term rentals, do short-term rentals, and in some cases
you can even sell one of your units in a duplex to someone else. It depends on what state you are in,
but this is an easy way to use the traditional mortgage system and the traditional financing
system and end up with your first rental property and again, statistically speaking, multi-family
properties go up in value even more than just single family homes. So it's a great investment.
Start looking into it. All right, now let's get into this next one because it is amazing.
Whoa, before I get to this last one, because like I said, this is so good,
I need you to comment below and tell me which one of these two things are you most interested
in. Do you think that you could buy a home or would you do a single family home or would
you want to live in a multi-family unit and be a landlord, but have your tenants near you? Again,
there's pros and cons. Let's have a conversation about this because buying a property where you
have tenants, living where you live does have some stuff that we got to talk about. So comment below
and let's have a conversation. Single family home or multi-family unit home, which one do
you prefer? Okay, back to this video and number three, this is the best way ever and literally,
this is how Noelle became a multi-millionaire in real estate. And the answer is subject to. Yes,
you literally can buy property subject to, or you can do what's called a lease purchase option,
meaning I'll tell you the first one first, which is subject to which I absolutely love because you
own the property, you buy the property subject to the existing mortgage staying in place. I know
you're like, wait, how does that work? How could I possibly buy a home and they leave the mortgage
that they have in place? Well, this is totally legal and ethical. You can buy a home subject
to and leave the existing mortgage in place. Yes. And so what happens is we start taking over those
mortgage payments. Essentially, I get the deed to the property, I close on the property and then I
get the deed, but I start paying that seller's mortgage. I am now responsible for it and we
signed what's called a separate agreement where I agree to take over those payments. Sometimes
we agree with no end in mind, but sometimes we agree, well, I'll take over those payments for
two years or three years, and that allows me to start making money with the property. It allows me
to never have my social security number checked. I didn't have to give a bank any of my information,
none of my income, none of those things. Usually just showing the seller that I have the funds,
and again, they can be borrowed. You can show them your lines of credit, you can show them your
business lines of credit, your business accounts, business credit cards, just showing them that you
have the funds to take over that mortgage payment is usually enough to get the deal done. But let
me give you the real secret sauce to this. What I said, most people are just not talking about this.
The way you really get this done is something that I shared with you guys before where I teach you
about real estate investing and again, you can watch an entire playlist on real estate investing.
I'll put a link to it right here. But what you do is you find someone that's most likely behind on
their mortgage payments. Okay? For example, this is the easiest way in how Noelle did it. You find
someone that's behind on their mortgage payments, even if they're just three months behind on their
mortgage payments, they're about to go into foreclosure and lose that house. So they are
very open to doing a subject to sale. Meaning I'll sell the house, sell the house to me, I take over
the deed and I take over the mortgage payment and I will give you the money, the down payment
or the security deposit, however we do it, to pay off those past due mortgage payments. This helps
them because it fixes their credit. They now have an investor, me, that can take over the mortgage
payments and I get a property that I can make money on. Yes. This is how you and my students are
getting their first rental properties. Now, aside to this, instead, if you're nervous about doing
a subject to and you're like, maybe I just want to lease this property before I actually buy it,
cause I'm a little bit afraid of the risk, you can do the exact same thing with the lease purchase
and the money that you give to pay off those past due mortgage payments is your security deposit,
okay? And then you paying the rent each month, instead of taking over their mortgage payments,
you still pay it directly to the mortgage company. But those are the rental payments. And again,
you can make an agreement and write this all up and it's legal and ethical between you and
the seller. So long as the seller is not mentally disabled or something like that, you are helping
the seller and you are doing a great thing to get your real estate investment portfolio going
and helping someone that's in a situation where they're about to go into foreclosure, lose their
down payment, lose all the equity they have in the house, get thrown out by the sheriff, like it's
a awful situation that you can really be a hero in. So I absolutely love buying homes subject to
or lease purchase. I have a surprise for you. My new book, Real Estate Millionaire Secrets,
goes over everything that I just shared in this video and more. In this book I put my heart
out when I teach you how I went for my parents' basement, broke, bankrupt, bad credit, multiple
foreclosures, no job, just the worst situation ever and started investing in real estate
and then went to dozens of rental properties, literally from zero to rich. Alright? I teach
you everything in this book, and you can get it absolutely free at noellesfreebook.com. Just go
to noellesfreebook.com, put your information in, and I will ship this book to you absolutely free.
You just cover the shipping. I just want to make sure that you have all of the resources, all of
the tools, and all of the knowledge that you need to be successful. This is Noelle, to your success.