Tommy Dobczyk walks through buying and renting corporate housing to executives. Properties run $1.3M to $2.2M with mortgages around $8k to $13k monthly, but can rent for $10k to $25k per month, potentially netting $60k to $100k yearly after expenses.
Questions this video answers
$10,000 to $25,000 per month.
$1.3 million to $2.2 million.
About $8,000 per month.
About $13,000 per month.
About $10,000 per month.
Chapters
You need to stop paying your coach if they're not teaching you how to do that. My name's Tommy D. I'm going to underwrite this deal for my friend right here. My executive level client needs a place to stay while he's in town and be able to do business and host events while he's here. Since he was using the place only about 20% of the time, he said we should look for rentals, and I strongly discouraged him against that. With the market going between $10,000 and $25,000 a month, I told Roman we need to take another look at this. Looking at the market right now, it ranges between 1.3 million and 2.2 million for a pretty nice house. So let's take a look. Look at the memor. Mortgage for the 1.3 is about $8,000. Mortgage for the 2.2 is about $13,000. So let's underwrite this one real quick. My expenses, including debt, would probably run me about ten grand a month. And then I just turn around and put it out there for 15,000amonth. And with simple math, 5 times 12 is 60k. Let's look at the big one. With a $13,000 mortgage and $3,000 in expenses, we're looking to clear about $9,000 a month on this one. Renting this out monthly to other corporate executives, Roman has the ability to. Actually, just by being a property owner, Roman would make probably $100,000 a year off this place. Setting it up properly, he's able to put money back in his pocket and finance the entire deal. That's how you become an investor. That's how we partner with people. That's how we make you money. We don't teach you or show you how to do the deal. We don't do the deals for you. We do the deals with you. Hit the links in my bio. Let's get on a call and take a look at whatever you got and we can set you up for financial success in real estate investing.
