Video Transcripts:
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Just to jump back to this. So, you know, that 15.7% cap rate money made on a single family home, um, in that $63,000 worth of income. When you add all this stuff up on a monthly basis and subtract it from there, you think you guys made money or lost money? What’s the question. This for the single family. If you actually add in all of the expenses that people do not actually consider with the single family that you need to consider, will you make money on your every single time. And so what I’ve watched a lot of people do, and this is more so that you can have the conversation with your friends and family who are dead set on single family, and they can understand why you’re scaling the multi-family is when you look at your cashflow over the annual basis and you actually account for all the things that you’re supposed to account.
You’re not making any money. You don’t even know it. And if you walk people through that, you will probably have access to more investors than what you think you do. And so if these people already understand real estate, and so they’re warm to the asset instead of having to go and talk to people who don’t know anything about multi-family and at times are offended that you were bringing something to them that they didn’t know about because everybody likes to feel like they’re sophisticated and really smart.
So just keep this in your back pocket. When you’re talking to folks about their single family rentals and how you see an opportunity for them to make money.
