Andrei Jikh's $1,300,000 Real Estate DISASTER!

Andrei Jikh made a video in August of 2022 showing off his new $1.3 million dollar home he purchased so that he could rent it out to some sucker for $7k a month. As I show in the video he hasn't been able to find anyone to rent it and is now desperate to find a tenant and lowering the rent ask every single week!

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This channel is all about exposing fake gurus, amazon fba scammers, and crypto scammers. I also aim to help people learn how to correctly build wealth through the stock market and other non scam investments.

[InfinityDsbm]

If I could afford 7k for rent I would rather buy a house

[nicktrish]

I’m a landlord. The main thing that is often forgotten is vacancy. Half a loaf is better than none, at least that has always worked for me. I regularly give a discount to a good tenant, as well as not increase the rent to market rent to an existing tenant. This is partly goodwill, but also not being greedy. This greatly lowers the vacancy ratio. I personally take pride in having a very low tenant turnover. If that means a smaller profit, so be it!

[pilotgirl]

He is an entertainer, not a financial advisor, and he just proved it!

[kriswillman]

He's friends with two of most popular real estate guys online but still said nah I ain't listening to them.

[sliceofheaven]

Not a real estate guy but why would you buy a high value property to rent during a economic downturn when real estate prices will probably go down by quite a bit? These guys seem to operate like it is still the boom time in stocks and in real estate property.

[ChaiLatte]

I'm surprised that neighborhood even allows rentals. You are definitely right that people who can afford that kind of rent in the outskirts of Las Vegas are just going to buy their own house. smh These guys aren't that smart.

[TheJelloash]

…at this point, it’s basic math. Its still incredible that he managed to make the worst choice at every presented opportunity.

[nicktrish]

I believe what you’re doing Scott, is what Warren Buffet has always said,
“When the tide goes out you find out who has been swimming naked.” Thank you for trying to shine a light on the not so honest people of YouTube.

[gaurd]

He’s charging rent like it’s located in the Hollywood hills. 😂

[cwyung]

Andrei made so many bad investments like Crypto (Voyager), NFTs, and not bad property investment. And why not locked in on a 30 years fixed in a historical low rate? I don’t understand why people listen to him or Jeremy

[CommandoMaster]

He would have better off buying 4x 300k properties and renting them out with his money.

[JoshuaPagan]

Adjustable Rate?! In this economy?!
😬 😬 😬

[nr]

Every single youtube finance "influencer" does not make money in anything other than youtube ads/affiliate deals and course sales. The few youtubers who started out within the property market and actually were successful in it is likely now also going to fail in that original market after getting free money on youtube during post 2020 revenue boom. Basically, those who could and those who couldn't all got their greedy brains melted during the free money printers revenue kickbacks on youtube and likely been out of the actual game for too long now nor able to generate their accustomed lifestyle from the thin margins on actual hard work.

[Chthonian]

It's rented as of 10/24 for $5995. He will cash flow like $700 for this one year... but no one is paying 6k a month on a rental house long term in Henderson NV. Also, he's down on 7 months rent (40k), all the money that went into renovations, and he bought at the peak so I wouldn't be surprised if he's underwater. Assuming this guy stays and pays his rent, he's going to need to rent it out for 6 years to make back the money he lost in 6 months.

[tbo]

You’re a legend 😂😂😂 great work brother 🎉 keep exposing these clowns 🤡

[illuviumgamer]

You're smart when you learn from your own mistakes, but you're even smarter when you learn from mistakes of others.

Thanks for the video.

[Heccak]

''Andre the money disappearing magician'' I'm fucking dead bro I'm so subbing to this channel, i hope you can keep exposing these clowns, this channel is a goldmine

[ZXC_ZXC]

Good points Scott about Andrei not knowing much real estate buying this $1.3M house to rent! I've rented houses before but got out of that market because it's too difficult to make money without being very experienced. There are just too many variables to figure out if a house will cash flow. You also have to consider that Andrei's $266K down payment or 20% is money lost that could yield a better return.

[chartreusecircle]

Dude got REKT on this deal lmao

If he doesn’t manage to house-hack this thing and get 4-6 tenants under one roof, it’ll keep hemorrhaging money for years. Can’t even imagine what his monthly payment will be after his teaser rate expires. Ouch.

[rankup]

When Real Estate, Crypto, Stock Market are all going up, these clowns were bragging about their investments on Millennial Money. Half year later, they all look like clowns and provided no real value. Folks do your own DD and never listen to a YouTuber for ANY advice.