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Warning: Should You buy Real Estate under Trump? [2025 Guide]

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FULL TRANSCRIPT

0:00

should you buy a house in 2025 under

0:03

Donald Trump's economy in this video I'm

0:05

going to go through a Blackboard session

0:07

breaking down what the numbers look like

0:09

for buying a house and some risks to

0:11

evaluate and at the end of the video

0:13

we'll actually do a full walk through of

0:15

a property that matches the numbers in

0:18

this and we'll show you what kind of

0:20

property I think would be a great deal

0:24

to buy in this economy but first let's

0:26

do some numbers uh let's and you can

0:28

adjust these numbers for what whatever

0:30

Market you're in median home price in

0:32

America is about

0:33

$450,000 so I recognize that as I use

0:36

these numbers on a $700,000 house it's

0:38

going to be slightly above medium now

0:41

the reason I'm using this $700,000 house

0:43

is because at the end of the video

0:45

you're going to see this $700,000 house

0:47

is probably in a neighborhood that's

0:50

worth $850 to about $900,000 uh

0:55

depending on the condition of the

0:56

individual property and the size of the

0:58

individual property

1:00

the reason we're going to use

1:02

$700,000 is because this property needs

1:05

a little bit of tender loving care we'll

1:07

talk about that in just a moment first

1:09

though let's talk about the benefits of

1:13

positive leverage over time when you put

1:16

20% down on a property like this so

1:19

let's explain what I mean with this if

1:21

we have a $700,000 property and we put

1:23

20 thou 20% down we're looking at a down

1:26

payment of

1:28

$140,000 which would give give us a

1:31

First Trust deed depending on the state

1:33

it will be either be a trust deed or

1:35

deed of trust or a mortgage out here we

1:38

use TDS so we'll go with a first loan

1:42

basically of $560,000

1:45

so $560,000 loan is going to give us a

1:49

monthly payment for principal and

1:51

interest we'll go ahead and write that

1:53

over here our payment is always made up

1:55

by Piti which is principal interest

1:58

property taxes insurance plus HOA dues

2:00

or mortgage insurance if you have it

2:02

since in this case you're putting 20%

2:05

down you wouldn't have mortgage

2:06

insurance if you were doing this math

2:09

along with me for your example and let's

2:11

say you put 10% down you might have to

2:13

include about half a percent uh for

2:16

mortgage insurance if you are putting 5%

2:19

down you might have to include 1% for

2:21

mortgage insurance and the easy way to

2:22

do that is just includeed in your

2:25

interest in this case we're going to run

2:27

the interest calculation at a 6.5%

2:29

interest rate fixed for um uh you know

2:33

here we'll just do fixed for a 30-year

2:35

mortgage I personally don't like the 15-

2:37

year mortgages because even though they

2:40

pay down principal a little faster they

2:43

box you into being forced to pay that

2:46

principal down faster if you wanted to

2:49

you could always pay your principal down

2:50

faster with 30-year mortgage just make

2:52

an extra payment every month it R sorry

2:54

every year one extra monthly payment

2:57

every year and it roughly turns into a

2:58

15-year mortgage the benefit of 15 is it

3:02

does give you a slightly lower rate

3:03

maybe you instead of being at a 6 and

3:05

12% be at like a 5.8% but now you're

3:09

forced into that higher payment and I

3:11

generally don't think being forced into

3:13

a higher payment is a good idea

3:15

especially since payments already on the

3:16

elevated side now so in this case your

3:20

principal and interest uh payment which

3:22

you could just Google mortgage

3:24

calculator for this would be around

3:25

$3,500 but I always like to break it

3:28

down so this would really be about

3:30

$3,050 for interest and about $500 in

3:34

principal on your first month so you

3:38

kind of are already on month one moving

3:40

$500 into savings it's going into the

3:43

property value rather than it all being

3:46

an expense when you're renting a

3:48

property it's all going into an expense

3:51

of course and In fairness today interest

3:52

rates are a little higher so your total

3:54

payment might actually be higher than

3:56

what the property would rent out for but

3:58

anyway property taxes in this area we're

4:01

probably looking at about $700 per month

4:03

and then Insurance we'll just assume

4:05

about $50 per month so when we total

4:08

this up we get to about

4:09

3050 37 + 7 about 40 let's make sure we

4:15

did this math right

4:17

4400 per month and now you're a

4:20

homeowner of this property now the

4:23

property needs some fix up as well and

4:25

we want to evaluate hey does it make

4:27

sense to do this should we just be

4:31

renting well if you're buying a property

4:35

for market value probably makes more

4:37

sense to just rent at the moment because

4:40

in this neighborhood let's say the

4:42

property would rent out for about 3800

4:46

bucks let's

4:47

say in this case we're looking at a loss

4:50

of about $600 per month in 2025 here uh

4:56

in sort of the spread between what we

4:58

can rent it out for and it costs us to

5:00

own it keep in mind you generally also

5:03

as an owner are going to include about

5:04

$200 a month for miscellaneous repairs

5:08

so if I add that in we're really looking

5:10

at about $800 a month that it's costing

5:13

us to own it versus rent it now in

5:16

fairness that's offset a good chunk by

5:19

the principal pay down right of that

5:21

$800 extra that we're paying above and

5:24

beyond renting the property we are

5:27

offsetting it by $500 that's basically

5:29

going back into the for Savings of the

5:30

value of the

5:31

property now obviously if the market

5:35

value of this property was $700,000 and

5:37

that was it might make more sense to

5:39

just rent because interest rates are so

5:42

high but that's where the beauty of the

5:44

wedge deal comes in see this $700,000

5:47

property that you're going to see as a

5:49

real example at the end of this video uh

5:52

is kind of nasty it's a bit of a fix

5:55

upper uh and so the property is going to

5:58

need about uh let's let's go with let's

6:00

assume we're going to do the plumbing uh

6:02

the uh supply lines on it as well and

6:04

let's go with about an $80,000 budget

6:06

for repairs so that is taking a chunk of

6:09

change out of your pocket right but

6:11

we're going to compare that to the stock

6:12

market in just a

6:14

moment so uh we've got a down

6:17

payment of

6:19

$140,000 we've got fix up uh of

6:24

$80,000 which means we need to come out

6:26

of pocket

6:28

$220,000 now this is a lot of money and

6:30

for a lot of folks we look at this and

6:31

say well it's going to take me forever

6:33

to save

6:34

$220,000 and this is why many when we

6:36

get started with real estate we'll

6:38

actually start with a significantly

6:39

smaller down payment you'll start with

6:41

maybe 10% down which would be 70k half

6:44

of this right if we started with even

6:46

less like a 3% down payment this could

6:49

actually be

6:51

$21,000 and what I've often seen people

6:54

do is they'll borrow their fix up money

6:56

from friends family on a home equity

6:57

line of credit or somewhere else just to

6:59

get started and the reason they would do

7:01

that uh is because they look at hey if

7:05

let's say I have a $900,000 house when

7:07

it's done and I'm all in at

7:10

780k well what I've done is I've just

7:13

created

7:16

$120,000 of extra Equity by making this

7:21

investment that's what I call the wedge

7:23

so your all-in costs what you paid for

7:26

it plus your fix up versus what it's

7:28

worth just make math easy and go for

7:30

nine for a moment it could be more it

7:32

could be less that's

7:34

$120,000 so now in the case of putting

7:38

$220,000 down you actually just returned

7:42

$120,000 on

7:44

$220,000 now technically you haven't

7:46

sold the property yet so you haven't

7:48

realized that yet but your net worth is

7:50

greater by the tune of 120 versus 220 if

7:54

you were to sell you'd have some selling

7:55

cost so that number would be lower but

7:57

you don't want to sell you want to keep

7:58

that real estate forever you want to

8:00

build your equity in that real estate

8:02

just like we're doing with our real

8:03

estate company house just buy properties

8:06

hold them build equity over time and buy

8:08

them up front as a wedge deal the beauty

8:11

about this is let's say there's a 10%

8:14

Market correction in valuations no

8:16

problem might 10% off of this you're at

8:19

810 you're still positive uh in fact uh

8:22

you'd have probably somewhere in this

8:24

case around a 13 14% margin and let's

8:27

just divide it really quickly and get

8:28

the exact number let's go with

8:31

780 divided by 900 you'd have a

8:35

13.4% margin of safety or buffer for

8:38

Market fluctuations which is nice

8:41

because if you bought a property for

8:43

market value or maybe it was fully

8:45

remodeled and you bought a $900,000

8:47

property let's say new construction and

8:50

new construction usually sells for a

8:52

little bit above market value anyway

8:53

because it's brand new and you get all

8:54

these Builder incentives so let's say

8:56

that property is really only worth 875

9:00

now the market drops

9:02

10% well now all of a sudden you're

9:04

significantly upside down right the

9:06

value of the property is closer to $800

9:08

or $790,000 but you paid nine for it so

9:13

in new construction you're often getting

9:15

what I like to call an inverse wedge

9:17

you're actually paying a little bit more

9:19

than the property's worth now there's

9:20

some benefits of that with new

9:22

construction you might be getting a

9:23

10-year Builder warranty one-ear

9:25

cosmetic warranty systems warranties in

9:28

between uh you're getting you know new

9:30

is nice you don't have to deal with the

9:31

remodel or fix up or all that headache

9:34

but you don't have that insulation

9:35

benefit that you're getting from getting

9:37

a fixer upper wedge so now all of a

9:39

sudden you look and say okay cool I'm

9:41

returning $120,000 pretty rapidly in my

9:43

net worth my net worth is boosting by

9:45

that

9:46

120k now you say all right well remember

9:50

how it's costing us $800 more per month

9:52

to own this versus renting it out right

9:55

but $500 is going to principal so we're

9:57

really only losing $300 per month in net

10:00

worth which If I multiply that on a

10:02

yearly basis my net worth goes up

10:05

$120,000 on this property day one after

10:08

I fix it up but I'm losing about $3,600

10:11

per month or sorry per year rather this

10:14

is an annual number

10:17

so my hope would be that over time rents

10:21

slowly start moving up uh and that loss

10:24

per year actually falls so let's say

10:27

year one your loss is $300 per year year

10:29

but then your principal payments go up

10:31

because every year you pay more down in

10:33

principal than in interest so it reduces

10:36

that loss naturally let's say rents go

10:38

up 50 bucks next year well every 50

10:42

bucks is another $600 off that yearly

10:45

figure plus the principal pay down this

10:47

could quickly turn into - 2600 for the

10:50

year -600 for the year and so on to

10:53

where you know after 2 or 3 years okay

10:55

big deal it takes off maybe 10 or

10:57

$15,000 off that Equity boost there no

11:00

problem it's gone you're not worried

11:03

about that rental loss anymore but

11:05

there's something else that's kind of

11:07

neat about all of this as well and it's

11:09

called Leverage appreciation now

11:11

obviously this can work both ways and

11:13

this is why I like the insulation of a

11:14

wedge deal but let's say that the market

11:17

appreciates over the next 5 years

11:20

10% okay well now you've generated an

11:23

additional $90,000 in value which means

11:26

you've generated $120,000 plus $90,000

11:29

in value you know adjusted a little bit

11:31

by some of these numbers here so you

11:33

know I'll just call it $200,000 for the

11:35

sake of argument and that $110,000

11:37

adjusted out over there now I've

11:39

returned

11:39

$200,000 in 5 years that's 10% over 5

11:44

years is reasonable obviously absent

11:46

some very large market crash again in

11:48

which case you want some

11:50

insulation and as long as you're not

11:52

planning on flipping the property you

11:53

can make the monthly payment your risk

11:55

is generally very low on a 30-year

11:57

mortgage because you can't get more

11:58

margin called excuse me so now you've

12:02

got

12:02

$200,000 after 5 years here this uh

12:08

$200,000 uh is equity you're not paying

12:10

tax on it which is great unless you go

12:13

to sell and even if you were to sell you

12:15

have some homeowner exemptions if you're

12:17

living there you turn it into a rental

12:19

you could take that Equity get a home

12:21

equity line of credit and use that to

12:23

leverage this Equity without paying

12:26

taxes and buy another property but think

12:28

about what you've got here you put

12:31

$220,000 into the property down payment

12:33

a fix up and now you've after 5 years

12:35

returned $200,000 you almost got a

12:38

complete doubling of your money with a

12:41

margin of safety this is something that

12:44

stocks don't offer you see we know going

12:47

into buying this property we're buying

12:49

it for less than it's worth 700,000 in a

12:51

you know 850 to 9 neighborhood uh

12:54

depending on on conditions again we're

12:56

rounding here with nine depends on where

12:58

we want to put some of these values and

13:00

again this is just an example

13:01

illustration here so what we look at is

13:06

we've got low risk on the downside

13:08

because we can make this 30-year monthly

13:10

payment we're not going to get margin

13:11

called nobody's going to say our loan is

13:13

do and payable tomorrow uh which you do

13:16

get with leverage in stocks which is

13:18

very risky especially in a volatile

13:20

environment and real estate generally

13:21

moves slower so we're getting the

13:23

benefit of no margin but we're also

13:25

getting the benefit of the insulation of

13:26

the wedge we're getting the benefit of

13:28

principal pay down and we're getting

13:30

leverage depreciation see when the

13:33

market goes up 10% it goes up on the

13:35

home value

13:37

10% but our down payment was only

13:39

$220,000 so 90k as a proportion of

13:44

$220,000 well let's look at that 90

13:47

divided 220 is actually a 40% return

13:51

which is quite remarkable that's the

13:53

nature of Leverage

13:54

depreciation uh and it's even though we

13:56

put 20% down you'd think it'd be 5X

13:59

that's offset because of the fix up

14:00

money here so this gives you a a

14:03

relatively safe way to buy real estate

14:07

when you can find good deals now where

14:09

do you find good deals well they come up

14:10

on the market all the time or you go to

14:12

open houses you stay tuned you pay

14:14

attention to markets you talk to

14:15

Realtors and people will send you a good

14:18

deals what you really want to do is look

14:20

at the property what it's selling for

14:22

and what the comps are selling for and

14:23

there should be a very large disparity

14:25

and usually it's because when you walk

14:26

in the house is stinky and there's some

14:28

kind of problem it's got R poop it's

14:30

Mells like urine or whatever you got

14:32

some work to do that's okay you're

14:34

getting paid to do that work you're

14:36

getting paid for that effort your net

14:37

worth is moving because of that uh so

14:40

we'll go into the video tour here now

14:42

but this gives you an example of how it

14:44

could make sense to buy real estate at 6

14:46

and a half% interest rates mind you also

14:49

that if in the future no guarantees of

14:51

this obviously but if in the future

14:52

rates are lower you'd be able to

14:54

refinance that payment uh and and lower

14:56

your payments significantly while still

14:59

having the benefit of the wedge

15:00

insulation and leverage

15:03

depreciation make sure though that your

15:05

job is stable because the last thing you

15:07

want is to have a large payment and then

15:09

you lose your job that said homeowners

15:11

are pretty dang protected in America so

15:13

it's not uncommon that even if you were

15:15

to lose your job and you couldn't make

15:16

your payment for 6 months until you

15:18

found a new job banks are really

15:20

reluctant to foreclose these days and

15:22

they often just take those 6 months and

15:24

add it to the back so you no guarantees

15:26

to that and you don't want to plan for

15:27

that but even in the worst case scenario

15:30

uh there there are some pretty unique

15:33

options markets present now and there

15:35

you have it real estate analysis in 2025

15:38

under Trump hey so a lot of folks have

15:40

been wondering what it's like for a pro

15:42

to walk through a house compared to a

15:44

noob so uh we're bringing back a noob

15:46

verse Pro so the first thing that I like

15:48

to do when I get to a neighborhood is I

15:50

like to look around see those Yellow

15:52

Doors over there nice remodel that's

15:54

great good nice new fence we got an RV

15:57

driveway to the right over there I like

15:59

seeing how nicely they've remodeled and

16:01

sort of tried to hide that RV back there

16:03

as well and look I'm parked right next

16:05

to a pretty gorgeous one as well new

16:07

roof also an RV new windows great doors

16:10

I mean I look around and I say hey you

16:12

know what these These are good signs I

16:14

like to see that in a neighborhood that

16:17

people are updating and maintaining

16:19

their homes I think that's one of the

16:21

first things you should look at when

16:23

you're looking into buying real estate

16:24

noobs will often just look at the

16:26

individual property and they're sort of

16:27

blind to the neighborhood I think that's

16:29

a big mistake you want to ideally be one

16:32

of the worst homes on on the Block that

16:34

you're buying you don't want to be the

16:36

best cuz otherwise everybody's drawing

16:37

your value down uh so you know I don't

16:41

necessarily love the design of this

16:44

second story property over here but it's

16:46

a sign that people have added on in the

16:48

neighborhood which is a pro indication

16:51

that people like the neighborhood they

16:52

want to be here this driveway by the way

16:55

this is good Ken this is expensive a lot

16:57

of these were uh

16:59

probably updated over time and had the

17:01

original concrete that just rots and

17:04

cracks well it doesn't really rot it

17:05

just cracks away but somebody spent a

17:07

lot of money on pavers here uh which is

17:09

pretty cool and the pavers are in decent

17:11

shape whereas a lot of this not so but

17:16

that's okay uh all right let's take a

17:17

peek inside so I usually the first thing

17:21

that I look at when I'm out

17:23

here and I see solar uh is I think okay

17:27

do we own it or do we lease it I hate

17:30

the leases I hate the power purchase

17:32

agreements uh I think I honestly think

17:35

they're a scam in fact I've made videos

17:37

on how I think they solar

17:39

scam they hold up a lot of resale

17:42

transactions however something that's

17:43

neat about these is on this particular

17:46

transaction uh they have a cancellation

17:49

Clause that allow you to cancel with no

17:52

cost which is shocking to me because

17:53

there's a $35,000 balance on

17:55

those unless you want to inherit the

17:58

monthly payment you can cancel for no

18:00

fee which is incredible because whoever

18:02

installed them before they did they also

18:04

put on what looks like a pretty dang new

18:05

roof you could see this roof is in

18:09

fantastic shape this is a probably a

18:11

30-year roof looks like it's in great

18:13

shape maybe trim the tree a little bit

18:15

so you get a little bit less debris

18:16

obviously you'll have some patching to

18:18

do if you do decide to remove the panels

18:21

this property which is a fixer it's got

18:24

some fantastic dual paint Windows here

18:26

these These are color dual paint windows

18:29

they're not brand new but they're great

18:32

condition I'd say they're less than

18:33

probably 10 years old uh you've got some

18:36

discoloration on them but they look like

18:37

a higher quality dual pin window so

18:39

looks exciting to me they added gutters

18:41

this is somebody who is selling a

18:43

property in a rough shape but so far the

18:45

bones look fantastic this is the

18:47

expensive stuff you know somebody who

18:49

really cares about the property is going

18:51

to put in a new roof and gutters and new

18:53

windows I mean even out here they added

18:56

an outlet for something they had here at

18:58

some point they spent the money and time

19:01

to make sure it was a GFCI outlet even

19:03

though the whole circuit's probably GFI

19:05

they wanted a GFI here again to me just

19:07

indicates the person who lived here

19:10

before really cared about the property I

19:12

like those sort of homes I don't like

19:14

the homes where uh you know the person

19:17

who's living there just doesn't care and

19:19

you could tell uh so anyway let's go

19:21

take a look could I pass that off to you

19:24

sweet thanks uh I don't know why it's on

19:26

that AE lock but whatever so so uh oh

19:29

that's pretty stinky so I don't know

19:32

what what happened but uh it smells like

19:36

cat I I'd go with cat what do you think

19:38

Ken I think so all right yeah yeah I'd

19:41

say cat uh a lot of cat urine as my

19:44

guess so I would say um you know I mean

19:47

obviously you're going to remove the

19:48

flooring anyway but all of this pad is

19:53

probably just saturated with that urine

19:55

smell so obviously you're going to have

19:56

to do a whole repaint and REO but that's

19:58

the easy stuff that's the cheap stuff

20:00

that's where the value comes in you know

20:01

people come in they smell this stuff the

20:03

noobs are like ew gross I don't want

20:04

that that's nasty it's like okay well

20:07

the expensive stuff like you know

20:09

$20,000 in Windows $330,000 probably for

20:12

that roof they put on um maybe not that

20:15

much maybe more like 20 but they spend a

20:17

lot of money on on the expensive things

20:20

that don't really add prettiness now I

20:22

hate the texture on the ceiling here so

20:24

I'd redo the ceiling I hate solar lights

20:27

so I'd get rid of that you some people

20:29

like those it to me it seems like you

20:32

had a dude here that uh did their own

20:35

versions of remodeling like this is a

20:38

dark stained like 9s flare that they're

20:41

TR like this is '90s right here but then

20:44

what they're trying to go with with this

20:46

darker stain is almost like a more

20:48

modern Craftsman uh this is actually

20:50

pretty nice if it weren't for these

20:52

elements and then maybe you had it white

20:53

it looked pretty modern the tile this is

20:56

like a 99 cent tile doesn't really

20:58

really match with it in my opinion but

21:01

it's it's again it's a sign that this

21:03

person probably hired the best

21:05

contractors to do work because the the

21:08

actual quality of the work looks pretty

21:10

good on everything I'm looking at you

21:12

obviously minus the fact that it's a

21:13

fixer but again as as a pro I I I like

21:16

looking at this this you know Noob might

21:19

not even think twice about this window

21:21

but this property wasn't built with a

21:23

window like this uh and these windows

21:26

are like four times as expensive as a

21:28

regular window to have sort of this more

21:30

Garden style window and they had

21:32

something here like maybe plants you

21:34

know given some of the mil oh well yeah

21:35

so obviously they had some plants here

21:38

uh and who knows maybe when they were

21:40

spritzing their plant they kind of

21:41

messed up the window but that'll you can

21:43

wash that out so what do we have

21:47

here well jeez interesting okay so these

21:51

are the original cabinets and

21:55

uh wow yeah no this was probably an

21:58

elderly person who' lived here for quite

21:59

a while uh and they did a lot of stuff

22:02

themselves this is something they they

22:03

did themselves I'm guessing cuz this is

22:05

sort of these are funky

22:06

add-ons obviously cleaning wasn't the

22:09

biggest priority for them unfortunately

22:10

but that happens in these and it creates

22:12

good

22:13

opportunity uh wow yeah this it it's

22:17

possible what I've seen in cases like

22:19

this is you get people they hire

22:21

contractors to do all this sort of

22:24

upgrading but they're hoarders and so

22:27

they slime it all up oh there's your cat

22:30

door so I mean honestly a kitchen's

22:33

probably a start over I I like the Ikea

22:35

kitchens I know people get mad at me for

22:37

saying that but Ikea kitchens are

22:39

freaking amazing uh great cost at uh and

22:44

great value but uh this door is a Hol

22:47

core door it has a hole in it anyway so

22:49

you'd have to replace it with a

22:50

self-closing one no big deal here that's

22:53

pretty inexpensive they're 250 bucks for

22:55

the door they have a built-in water

22:57

filtration over here for the

22:59

refrigerator that's interesting I'm

23:01

telling you these people they spent

23:03

money on all the little things that they

23:05

wanted then they just pooped it up with

23:07

with grossness it's this is the

23:09

definition of the kind of property that

23:11

you want to buy this is you know know

23:13

$850 to $900,000 Neighborhood it's

23:15

listed for $6.99 most home buyers are

23:18

going to absolutely hate this uh okay so

23:23

why did they do this see this is

23:26

odd um so this is what happens when you

23:29

have dissimilar Metals you get this

23:32

galvanic corrosion which is exactly what

23:35

this is right here so you've got uh

23:38

copper uh next to or attached to this

23:40

galvanized usually you'll separate them

23:42

which I can't tell cuz it's all taped

23:43

and rusted over but usually you'll

23:45

separate them with a brass connector but

23:47

anytime you have dissimilar Metals

23:48

connected you're more likely to get

23:50

corrosion and the water heaters not in

23:53

the best shape and Ken do you have a

23:55

flashlight on your phone by chance I

23:57

just want to see this up here I think

23:59

there's a chance you may still have the

24:01

older Plumbing in the property let me

24:03

grab that if you don't mind so yeah well

24:06

it's little does anybody have a

24:10

key this yeah no this is the old galv

24:13

yeah you could see sort of the rusting

24:15

of it here yeah so this is all pretty

24:17

original I would argue this water heater

24:19

is at the end of its life and that the

24:22

plumbing is still original here you

24:23

still have the asbestos uh exhaust pipe

24:27

uh which isn't a health concern unless

24:29

you're going to go eat it but the things

24:31

they've done they seem to have done well

24:34

but Plumbing oh yeah it's all still the

24:37

original galvanized at least over here

24:38

we'll look under the kitchen too so I'll

24:40

borrow this again for another

24:41

moment

24:43

but my guess is I also don't think this

24:47

was built with an island originally this

24:50

would have been a wall so then they

24:52

removed the wall here and tried putting

24:54

in can lights so let's see what could

24:56

changeed over here nice gross look at

24:59

the sort of mildew in the filter uh

25:02

again they spent like they spent a lot

25:04

of money for the systems then they just

25:07

never maintained them uh sad so all

25:10

galvanized Plumbing over here too coming

25:12

out from under the slab you could just

25:13

see it's coming straight up so you got

25:15

your original

25:16

Plumbing that's probably the only big

25:19

expensive thing I see so far uh let's

25:22

see obviously then you got Cosmetics

25:25

what else do we have oh Canen I'll give

25:27

this back to you

25:28

uh

25:31

actually yeah it to me everywhere I look

25:34

the uh electrical work they've

25:37

done it seems like professionals came

25:39

and did it that although this hot wire

25:41

is about to slip out but uh and it's

25:44

hard to say if they've replaced all the

25:46

wiring in the home since I know this is

25:48

just the new portion so I see the

25:50

grounding wires I don't know if the

25:52

original ones do but I'm going to guess

25:54

that they do H oh no we've still got see

25:57

here's still original oh we've got

25:59

grounding over here which is nice so you

26:01

do still have some original wiring in

26:03

the home so they probably just added new

26:06

because look at this you take one outlet

26:08

and this was probably where their

26:09

entertainment center was and they've

26:10

done these Outlet upgrades everywhere I

26:13

mean look at there's 20 there are 20

26:15

different outlets in here it's

26:16

incredible cosmetically a disaster uh

26:21

okay wow what is this oh my gosh I don't

26:25

think I've seen this before fabric on

26:28

the wall where the headboard goes sort

26:31

of like a wall headboard my Lord who

26:34

comes up with this

26:37

stuff that is bizarre uh again these are

26:40

the inexpensive things and they added a

26:43

vent here so almost like they were

26:44

trying to cool this area because they

26:46

had a server Rack or something odd that

26:48

there's a vent but anyway uh these are

26:51

the perfect cosmetic things that are so

26:53

easy to just rip it out paint and uh and

26:57

redo with without much uh

27:02

expense well this looks cool again they

27:07

spent lots of

27:09

money on uh on expensive things and uh

27:14

little money on maintaining so let's see

27:17

what we have up here uh okay let me take

27:20

a peek first so oh this is this is

27:24

incredible they spent a fortune doing

27:27

this y'all can actually if you want come

27:29

up here this is

27:32

remarkable uh so there are rat turds but

27:38

this is really impressive because it's

27:40

they spent the money to plywood their

27:42

attic they've got insulation under the

27:44

plywood yes you have

27:47

rats a lot but that's solvable uh I see

27:52

the entire HVAC system has been redone

27:57

so uh new ducting all the asbestos

28:00

ducting is gone the insulation looks

28:02

like it was redone they spent a fortune

28:04

doing this work right here uh little

28:07

lazy that's the bathroom vent right

28:09

there and see this this lower one here

28:12

and see how they did this vent where it

28:14

sort of lazily comes up to here so the

28:17

moisture from your bathroom is going to

28:19

go through this and then kind of just

28:21

float in this area the idea is that it

28:23

goes all the way up to the vent but I

28:26

mean they could have added a foot to

28:27

this and and then not had potential uh

28:30

moisture issues you also see some

28:32

staining here that's probably from the

28:34

old roof so I wouldn't be worried about

28:36

the staining because you know somebody

28:38

will look oh my gosh the roof's leaking

28:40

I'm almost certain that's going to be

28:42

the old roof it's possible the solar

28:44

panels you know leak where where the uh

28:48

panels uh mount to the roof but it's

28:50

unlikely given uh we don't see any

28:53

evidence of leak on this plywood or

28:55

below now you've also got this is your

28:57

return right here and then your furnace

29:00

is actually an attic furnace all the way

29:02

at the end which is fantastic because it

29:04

means they've moved the furnace from

29:07

likely the closet right here at the

29:09

bottom of this stair Set uh up here into

29:12

the attic which is expensive these

29:15

people way over improved this property

29:18

and I absolutely love it uh okay this is

29:23

a little funky whoever did this this

29:25

unfortunately I'm going to guess

29:28

this set here has to do uh I was going

29:32

to say maybe the um Solar Company but I

29:36

don't think the Solar Company would do

29:37

it this sloppily whoever installed this

29:39

electrical I don't love let me see if

29:42

it's loose enough it might be loose

29:45

enough for me did you fall okay let's

29:48

okay all

29:50

right okay so don't love the work in

29:54

here usually when you see ah

29:58

somebody did this themselves so this is

30:01

not it's not a clean electrical install

30:03

the use of tape around the wire nuts

30:05

isn't necessary uh it it signals sort of

30:09

handiwork uh that I don't I don't love I

30:11

would have an electrician probably come

30:13

and fix some of this but I mean it

30:15

shouldn't be loose like this uh the wire

30:18

should be clamped inappropriately

30:20

somebody had the right ideas but whoever

30:23

did this portion funked it off also this

30:25

sort of like drywall screw in over here

30:28

to maintain uh uh your your Rox here

30:32

don't love um good attempt

30:36

but I I don't know that I would want to

30:38

put a lot of electrical loads on it so

30:41

interesting somebody this person lived

30:45

for their home I mean look at all these

30:47

vent Stacks I think in almost every room

30:50

I think these are what we're seeing they

30:52

have what I see like six of these

30:54

different vent Stacks this is remarkable

30:56

they're everywhere

30:58

very odd uh and and certainly an over

31:01

Improvement and then I've got some

31:03

extension cord work over here like to

31:06

see where all that's going but but

31:07

anyway that's uh that's the attic so I'd

31:09

say overall this is I'm pretty impressed

31:13

with a lot of this so far and the fact

31:15

that it's got rat turds all over and

31:19

stinky is awesome and I love that they

31:22

used a towel rack as a handle for

31:25

getting down that's brilliant okay so

31:29

what else do we have in this property

31:32

well well yeah sure I'll grab it uh

31:36

there we go thanks we'll go back to

31:37

selfie mode over here so this right here

31:41

would have been where their furnace was

31:44

and see now here's your return which is

31:46

great so very

31:49

impressive then what else do we have we

31:52

go over

31:54

here okay this

31:56

is well some drywall work acoustic

31:59

ceiling they didn't spend much time in

32:01

here we got a ceiling fan Mount double

32:03

check that that's actually mounted uh

32:06

they did a four panel door over here

32:09

very cool okay I can take care of that

32:12

in a moment then what else do we have

32:15

some funky molding over here this is the

32:17

only place the molding wasn't finished

32:19

this certainly looks

32:21

do-it-yourselfer so the things that were

32:23

done by contractors here seem very well

32:27

done like the windows for example the

32:30

things that were sort of do it yourself

32:33

a little more questionable and uh yeah

32:38

good old Plumbing it's probably the one

32:41

thing I might be tempted to update

32:44

structurally is the plumbing obviously

32:47

and then the Cosmetics vanity drywall

32:50

paint

32:51

flooring but uh boy every everywhere he

32:55

possibly could he added more Outlets

32:58

I'm assuming it's a he based on the

33:00

designs this is uh these don't seem like

33:05

women inspired

33:07

designs so but yeah you can see just

33:10

over time the hoarding mess what about

33:14

the backyard what do we got here more

33:19

pavers more

33:22

money very expensive they probably had a

33:25

spa here and it's very nice that you

33:28

have the

33:30

Electrical uh run over here it's like

33:33

a

33:35

some opportunity to set a spa here and

33:38

run your circuits fill up water looks

33:41

like they had a lot of forethought in

33:43

what they did that's a nice backyard oh

33:45

here's a here's a spa that's built in

33:48

how interesting so maybe then here they

33:50

just had seating or gazebo or something

33:53

uh

33:54

AC nice I haven't seen this look at this

33:58

they for the winter months they put a

34:01

lid so it doesn't rain in there I this

34:05

is Incredible Cool C this is so cool I

34:09

I've never seen this before and it's

34:11

kind of brilliant you know this is all

34:14

common in in snower areas where people

34:16

will actually bag the whole thing uh for

34:18

the winter months so you don't get snow

34:21

and and freezing or whatever in there

34:23

but uh wow oh my gosh this person added

34:27

circuits everywhere they could really

34:31

incredible yeah Outlets every I think

34:33

they've probably added like 200 Outlets

34:36

remarkable so nice fence over here

34:40

private uh it's got a Chimney Cap yeah

34:45

okay so to me this is this is the

34:49

definition of a wedge deal uh which

34:52

would

34:53

be added grounding rods did they do a

34:57

good job

34:59

that could be deeper I shouldn't be able

35:01

to wobble it like this honestly if I

35:03

grabbed it it probably just come right

35:04

out that's pretty weak on grounding so

35:08

i' probably want to drive the grounding

35:09

rod a little deeper than that but that's

35:13

all right who did

35:15

this all right okay so this panel is

35:21

interesting it was

35:23

probably well I mean almost certainly

35:25

done with the the Solar Company care p

35:27

pass that to you for a sec certainly

35:29

done with or for the Solar Company but

35:31

no arc fault breakers which means it was

35:34

probably

35:36

done uh more like 10 years ago I want to

35:40

say what does this

35:42

say uh that either says 2010 or 19 which

35:46

would be about 6 years ago that could

35:48

make sense I'm just surprised you don't

35:50

have any arcal Breakers but that may not

35:52

have been code right when they installed

35:56

this but uh I let see if they have

35:58

permits for

35:59

it plenty of circuits my gosh they

36:02

upgraded every circuit in the house to a

36:04

20m AC's on the 30 plugs 20m 20m kitchen

36:09

plugs 20m 20m patio plugs 20m bedroom

36:12

plugs 20m bedroom lights 15s over here

36:15

fine living room plugs plugs lights

36:18

dining room family boy they put so much

36:20

effort into making sure they could

36:22

always plug something in really

36:24

incredible oh they have a sub panel

36:25

somewhere too okay well good for them

36:27

I'll close that fully in just a moment

36:30

solar inverter is over here this would

36:31

all be if you got rid of the solar

36:33

system they probably take it all paint

36:35

the outside love this paver work though

36:38

this is really incredible they spent so

36:41

much money to crap it up like this but I

36:45

love it I mean little to do here it's

36:47

drywall kitchen bathrooms flooring paint

36:51

you know call

36:52

it uh drywall and pain inside outside uh

36:56

flooring

36:59

probably it's probably like a 75 K in

37:02

terms of Renault it sounds reasonable

37:04

and then you got some demo depending on

37:06

how much you want to do

37:08

but it's just cuz it adds up quickly

37:10

right I mean paint inside out 15 uh

37:14

drywall is going to be another

37:16

5ish uh if you wanted to do the plumbing

37:19

that's going to cost you could do that

37:20

before you do the drywall

37:23

work you could run it through the attic

37:25

pretty easily because of how they've UPG

37:27

upgraded

37:29

it this is a good deal so if you bought

37:32

it for say you bought it for seven you

37:35

put 75 in you're

37:38

775 with these upgrades could it be an

37:40

875 house and have 100K wedge probably

37:43

is it a 9 maybe not would it be nice to

37:45

get it for 650 put some more spread in

37:48

there yeah but uh otherwise impressive

37:51

house so that's my review as a pro of

37:54

this property

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