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This is golden advice Rick! Debt free since about 2003 myself. If I had not done that, I'd be totally screwed now because I no longer am able to rake in the big bucks with my work. This is what so many debt slaves fail to realize...reduced ability to earn can bring the whole fake 'house of cards' come crashing down on them. I used two main methods to get debt free. 1.I took 100% control of finances because my wife had no clue about living within our means and organizing a plan to pay off debt. 2. I became self employed. I enjoy your videos that talk about this stuff. You are setting some very confused and brainwashed people free. 👍
Thanks for taking your time to share about your financial situation with us. We are all raised to look at money with one perspective, until we get a different lens to look at it. I'm working toward my own financial freedom by taking out my student loans as quickly as possible. I'm picking up a second job in becoming an instructor for motorcycling and using that money to speed up my debt snowball. Who else on here is on their journey to being debt free? What are you doing differently than you were before to chase this goal of yours?
man respect you for speaking the truth. ive lived in paradise with just a back pack and was the happiest ive ever been. now im back in the uk making good money but the debt is slowly increasing buying stuff. thankyou for reminding me.
Family is never expensive...you are coming from a family. It's all about decisions. But I agree with everything else. Take care and stay safe, well done sir.
dear CycleCruza just wanted to thank you for these real life lessons from humble dudes like you. them fools playing a fools game with unnecessary debt , beyond their means debt to make the banks an already fat man fatter , making life & every thing expensive for us normal dudes .just wanna ask them why ? they really could use your advice. keep it up & god bless ya man.
It’s all about discipline which is a lot of things in life. Sadly the majority of people lack it. Love your videos man I’ve been watching since you were riding the 2008 Honda CBR 600 lol
Preach it CycleCruza!! I agree 100%. Look at the last page of those Mortgage papers to see what you will ultimately pay for that house then tell me it's a smart idea... If you do have to take out a mortgage, never go more than 15 years. If you can't afford it, you can't afford the house. Any Debt is bad debt.
Many people don't realize you can pick up houses cheaper with cash. Not only can you get sick deals at cash-only auctions as mentioned in this video but you can get sick deals on short sales, home owners who are financially desperate and you buy their house for what they owe on the mortgage and the house has a lot of equity. Cash is king! Debt enslaves you.
Props to you brother. Stay off them back wood roads. Smart to reduce your risk bro. You give us some jewels on your youtube journey for us who haven't been here from the start I started watching in 2015 when I decided to get back on 2s. 💪🏾
You are right about debt. One of the richest guys I know saved first and then bought properties debt free and rented them out. If you are borrowing money for a house you are going to rent, the bank is making all the money.
Using OPM for real estate is a way to shave off an easy decade of wealth building. Not to mention the tax benefits of having loans. I retired doing this at 30
@@CycleCruza Yes, for a 30 year mortgage obviously. The majority of big time players in the real estate game, are using loans. Not only does it rapidly accelerate growth and wealth, it has a major tax benefit. Not doing so would be silly and take you many many years to remotely even come close.
Been watching you for years now. Love the videos. I appreciate the information you give ,and I can tell you are caring person thanks. No f*****-up days!
Dude, you are so right. The secret for you all out there is this...and it's this simple but it's this hard, but simple.....sacrifice when you're young, don't blow it trying to live it in your late 20's and 30's, just chill and focus on work, then in your late 40's to 50's you gonna be smiling. Don't be stoopid.
Another tip: buy your toys 2nd hand from private sellers for a price that you can never loose on. I shop in Sept, Oct, Nov when the season is over and Xmas is on the horizon and people want to sell low. I bought a Zodiac boat when it was snowing which I could have sold with $3k profit in the spring. (I still own it 12 years later) and I bought a WR250R with 5000 miles in the pooring rain in the fall, for $3K less than new, including large tank, skidplate, tank bag, luggage and racks, barkbusters, 2 seats and a new set of tires.
Been living this way the past 3 years as a father. I still buy decent stuff I just don't overspend, I hunt for sales, I buy what my family NEEDS, I only buy things for fun once in a while, and I save over half of my paychecks if not more. I only keep 300 on my checking account at all time and rest goes right to savings! I am doing great savings wise and we never have to worry about a thing. Bills on autopay and still every check adds up to savings, yet I still work with ppl who are in debt and struggle check to check cause they don't know how to live right
I guess that's how you have to live when you've got kids. I would hate to spend my life working to pile up $ and never get to spend it. My friend's grandfather did just that, wage slaved his whole life, scrimped and saved every penny so he and his wife could travel when they hit 70. That age finally rolled around: wife got dementia. He is a sad shell of an individual and I can't say I blame him whatsoever ;-;
I’m in the process of paying off debt. Paying isn’t the hard part, staying consistent while others are telling me I’m crazy to be doing this is my twenties instead of “being young” is the struggle lol
Thank you for your real advice! These things seem like common sense but so many of us just don’t think about it because of the ill advice of OTHER people who are also trying to make money off of YOU (take out this loan, open this card, etc). You are so smart. So glad you are sharing this with the world!
Cruza You are the Man I have tried really tried. Follow Dave Ramsey, drive a used car for years, work ,budget. Hope someday be able to pay cash for a home.😪
My wife and I are 30 and just bought a $330k house in cash for all the reasons you spoke about. We own two new cars outright and have 0 debt. Now we have hedged our risk in the case of an economic downturn. Like you said, I can work at McDonald’s and provide for my family. THIS is where our wealth building truly begins. I have free’d up my income to invest heavily AND I have minimal risk. We will be multimillionaires by our late 40s
👍🏾 FACTS well spoken CASH 💰 that’s how it’s done I’ve never even owned any credit cards either no loans etc. own everything and have titles to everything !!!!!!
Here's how it was all really done: that UA-cam money done added up. I'm currently making close to six figs, currently renting a room but usually live in my van, have a vasectomy so no kids, eat cheaply, shop at thrift stores, have zero debt... I'm saving fast but all that would be gone if i bought a bunch of bikes cash and other things. Normal middle class jobs will not do it. Other than that👍👍
Yes sir live like no one else so later on you can live like no one else, everything in life is a sacrifice, it pays off at the end , financial stress sucks
I just recently stayed at a B&B. while I was talking to the owner he said they get enough people staying there to where his house payments are fully paid. Nice house too
I was going to do AirBNB part time but decided not to because this place is like new and I would hate to see it trashed. Also, people can bring bed bugs and roaches to rentals. I read too many horror stories. It just ain't worth it after all of the taxes, fees, management costs, cleaning costs, extra insurance, etc you have to pay. Not to mention the liability risk of getting sued if something happens.
@@CycleCruza and you would need to go to the b&b and clean it before the next renters checked in. Where I stayed the family who owned it still lived there! I had my own room and bathroom but it was still kinda awkward
Dave Ramsey deal if You have say 5 incomes coming in and You stuff that money away instead of pay the houses down, I would think that You would have a strong cash hand
Forgot to mention your inheritance. Also the acceleration clause of a mortgage is only after a default and is extremely rare. Most just foreclose after every last avenue is taken.
Yea he always leaves out the point in his life when he had no money to having money and when someone asks about it, he just says he had a business...won't ever say what that business was, but it's clear he was left some money and sold off his grandma's house for more money
We love you, CC. We'll have to agree to disagree when it comes to saying all debt is bad debt. That's like saying all risk is bad risk. So why even ride motorcycles let alone get out of bed in the morning? Good debt is financial leverage that provides the opportunity to increase your net worth, quality of life, or both. Of course there's a level of risk associated with taking on any debt. You are extremely risk averse which is totally okay. That's a personal decision. We all must do what we're most comfortable with. Much love, CC. ❤❤❤
Actually, I made my first big profit off of a mortgaged house but I nearly lost it to foreclosure and it came with a lot of anxiety. As stated in the video, after that experience I did not want to live like that anymore. Go and watch Dave Ransey's new seminar, he used leverage as well back in the day and bought a bunch of homes with no down payment but lost it all and went broke when the bank made the loans due and he couldn't sell all of the house to pay the debt. What people don't realize, which I talk about in this video, is the banks can make a loan due immediately for various reasons stated in your loan agreement and take your house and equity. True wealth is built debt-free. When you own your real estate outright and 100% debt-free you'll have a lot less overhead and will reap full profits and be in full control of your assets. With leverage on properties, you don't actually own anything, the bank does! Playing with debt is like playing with fire, it can burn you. Check out Dave's seminar: ua-cam.com/video/iXvvcpld-b0/v-deo.html
Ive noticed that most people want to live as comfortably as possible, especially women.I think they dont see the value owning your own house/land(freedom) , for most its comfort living and looking better(richer) than the neighbor.
There is a new generation of young people that are finding alternative ways to live mortgage free such as building tiny homes on bought land, living in a RV or van, making a container home, living in a travel trailer, etc. Many people don't want to be enslaved to debt anymore.
I’m 19 and I’ve always wondered why people buy things they can’t afford or why they even want a brand new car when they most likely have less then $5,000 in the bank and are in college and will have to pay that off eventually. People in my generation need more financial advice I know I found it else where outside my home and that’s what people need to be more proactive on or by bringing it in the home, also people wanna go to college for the college experience but could get two years of college done at a community college for half that, then transfer and still get that experience if they must. Do not buy a brand new car unless you are paying for it in full, you can’t afford it if you can’t pay for it in full and then still live like you never spent any money.
Here is my secret. Kicked out of my house by my dad at 19. Bummed around with a friend, got a job at Kmart (lol), moved into an apt with roommates for 3 years while saving more than half of my earnings (living like a monk). Bought my first house in my 20s for 260k mortgage. Sold it for profit, bought a second home for 600k, sold it for a million 3 years later for 550k profit after commissions, and moved to a different state and bought acres and a smaller home in cash (than my last house). Living the dream buddy.
Appreciate the guys in debt, they keep the banks in business... Killa that line anyways I do agree with you, I hate date and I learned the hard way, I lost about 4 years of finance and can never get them back it was quite the lesson do people know that when you take a loan you spend the first 30 to 40 percent of the period paying the interest? ( Or giving out money that you didn't even borrow )
Take it from someone who worked 3 jobs for 8 years. He did everything right. And if i didnt mess up and have a child with some bimbo and get put on child support I’d be retired by now. Instead i have 80k cash and can’t afford to buy a house because I can’t pay all cash. I put offers over 50k and still only top 3. So now i live with my mom and pay her rent. I hate it but it beats paying 1800 for an apartment
Thanks for the breakdown C.C. Hey you still dating the lady you spoke about before you moved to your new place? Reason I asked, because I was hoping to see her learn how to ride on your channel.
@@dr.jiIIaIicecooper2587 the reason I asked is because he talked about it in one of his videos. He was talking about bringing her to the channel. And trust. I've been following him for years. I know that he is a private guy. I was just happy for C.C. when he announced it.
I am starting to save up and plan on living with my parents for sometime. So I don’t have to pay for living expenses or food really. Live below my means
i have 0 debt but im on fence of paying cash for house or get mortgage. feel like id be missing out not investing the money since 3% is nothing i def could get more from investing
But do you realize that you won't actually own your house? Also, with a paid off house you can actually pay yourself back with the extra money you'll have every month that you won't be paying to a bank and you can invest it, so you are not losing anything and you'll OWN your house. Also, if you lose your source of income it's a much easier paying only property taxes. You don't even have pay for home owner's insurance if you don't want to. With a mortgage you are forced to pay for home owner's insurance to protect the banks's asset that is not yours.
never heard of a bank asking for the mortgage to be paid in full in the UK. Agree with the frugal lifestyle but Paying for a house in cash is just crazy.
As stated in the video, in Medina Ohio, there was a 90 year old woman and her son and they never missed a payment but their bank got bought out by another bank and the loan was made due in full because of a clause stated in the loan agreement (fine print). Obviously, she couldn't pay the six figure amount so they foreclosed on the property and put her out! Google it and many other cases like hers. Banks OWN your mortgaged real estate, they can do what they want as long as it's stated in the mortgage agreement you signed. That's why its imperative you read the fine print of anything you sign.
Yo CC, why u messing up my plans bro?...I mean, I was going to finance a new bike. Now I'll guess I'll go live off the grid for a few years and save up.... 😢
@@CycleCruza exactly! But I like the guidance you give people. I live a lot of that same way but I realize that the world is credit driven so have a 830+ credit score just in case 👍
@@dr.jiIIaIicecooper2587 good debt = mortgaging a house, fix it up a bit, sell it in 2-3 years and make an average of $50K-$80K. That's a classic way of using debt to make a profit.
If you're making $50,000 a year and you live like you're making $30,000 you're going to have money you can save. A lot of times people when they go from 30000 to 50,000. They start having more bills cuz they feel uncomfortable enough to buy this and by that. But you should still live like you're making 30 and you will have money to save up and you'll have money to pay off all that debt.
Lol the Popey Jones 11s. Lol jk, yo do you use credit cards for the rewards. I use my credit cards to pay all of my budgeted expenses in 2021...paid it off every month and got back $1700 in cash back. Build your wealth and get married idk, I think if you got wealth it's hard to find real love. They ain't loyal. 😂😅
Only people that are as debt free as you can get are nomads that live in a van or RV. Just be sure to pay the tax thru liability insurance and vehicle licensing and registration!
@jake the dog One thing to consider is the amount of freedom you will have. Consider the amount of people swarming the US southern border. If democrats realized what the illegals were fleeing from, there would be a Ma-deuce cutting invaders down every 100 yards. But they are proven idiots.
You want to know who actually owns your property, just miss a tax payment or two on your real estate. The government is the thing that actually owns all property. Debt, if considered just as a tool is neutral. Some people can afford debt and some cannot. Depends on how much income you have every month.
That's the excuse people say who are in debt. I used to say that bs too back in the day. There are two things you can't get out of in life, taxes and death. Whether you have a mortgage or not you have to pay property taxes, that is what funds the police, fire dept and schools on your town. However, that doesn't negate the fact that either you own your property (name on deed) or the bank does and you are merely a tenant to the bank waiting for you to miss payments and swoop down and put you out of their house and take all of the equity you built up. PS. If you don't pay the annual license plate renewal (tax) on your car you cannot drive on the street, if you drive without paying the tax they can take your car (impound).
@@CycleCruza Only thing you really own is your electric bike and your silverware, plates and clothes and cash. LOL! That's why works of art are worth big money too! Have a billionaire old buddy that has over 10 million worth of paintings. BTW, you can use paintings by renowned artists as collateral for loans too.
@@CycleCruza Like anything else, debt can be a bad or good thing. Depends on how you use the hand you've drawn by your own choice. To be debt free is always the safest choice BUT eliminates any potential monetary gains.
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What people under estimate with a debt free lifestyle, is the absence of stress due to the freedom you have. You’re an inspiration mate
Man, i really appreciate these real life lessons from normal dudes like you.
This is golden advice Rick! Debt free since about 2003 myself. If I had not done that, I'd be totally screwed now because I no longer am able to rake in the big bucks with my work. This is what so many debt slaves fail to realize...reduced ability to earn can bring the whole fake 'house of cards' come crashing down on them. I used two main methods to get debt free. 1.I took 100% control of finances because my wife had no clue about living within our means and organizing a plan to pay off debt. 2. I became self employed. I enjoy your videos that talk about this stuff. You are setting some very confused and brainwashed people free. 👍
Still got the wife or you got rid of her?
@@kentmill5463 Still here, but with checks and balances on spending.
Hey Rick 😁 thanks for the inspiration man you really keeping me on track. I've got a bunch saved, love it.
*NEW VIDEO:* Why Japan WON’T Make These Motorcycles:
ua-cam.com/video/2W9ZpYucxSo/v-deo.html
Debt is dumb.
Thanks for taking your time to share about your financial situation with us. We are all raised to look at money with one perspective, until we get a different lens to look at it.
I'm working toward my own financial freedom by taking out my student loans as quickly as possible. I'm picking up a second job in becoming an instructor for motorcycling and using that money to speed up my debt snowball. Who else on here is on their journey to being debt free? What are you doing differently than you were before to chase this goal of yours?
Nice! It sounds like you have a great plan. You will attain your goals and on your way to financial freedom. You can do anything you put your mind to!
We’re in the debt snowball, almost done a little more to go. Not Going out to eat was the biggest saver
man respect you for speaking the truth. ive lived in paradise with just a back pack and was the happiest ive ever been. now im back in the uk making good money but the debt is slowly increasing buying stuff. thankyou for reminding me.
Family is never expensive...you are coming from a family. It's all about decisions. But I agree with everything else. Take care and stay safe, well done sir.
Paid cash for most of my property portfolio.
Not all of them though. People starting out, mortgages are better than renting.
dear CycleCruza just wanted to thank you for these real life lessons from humble dudes like you. them fools playing a fools game with unnecessary debt , beyond their means debt to make the banks an already fat man fatter , making life & every thing expensive for us normal dudes .just wanna ask them why ? they really could use your advice. keep it up & god bless ya man.
It’s all about discipline which is a lot of things in life. Sadly the majority of people lack it. Love your videos man I’ve been watching since you were riding the 2008 Honda CBR 600 lol
Preach it CycleCruza!! I agree 100%. Look at the last page of those Mortgage papers to see what you will ultimately pay for that house then tell me it's a smart idea... If you do have to take out a mortgage, never go more than 15 years. If you can't afford it, you can't afford the house. Any Debt is bad debt.
Many people don't realize you can pick up houses cheaper with cash. Not only can you get sick deals at cash-only auctions as mentioned in this video but you can get sick deals on short sales, home owners who are financially desperate and you buy their house for what they owe on the mortgage and the house has a lot of equity. Cash is king! Debt enslaves you.
@@CycleCruzanot enough people know this! Good deals seem to come along to those who are prepared for it! Working on becoming prepared now
Thank you for making this video. I agree 100% with everything you said!
Thanks for viewing!
Thanks for sharing your story, that is some really good advice👍👍
Props to you brother. Stay off them back wood roads. Smart to reduce your risk bro. You give us some jewels on your youtube journey for us who haven't been here from the start I started watching in 2015 when I decided to get back on 2s. 💪🏾
You are right about debt. One of the richest guys I know saved first and then bought properties debt free and rented them out. If you are borrowing money for a house you are going to rent, the bank is making all the money.
Using OPM for real estate is a way to shave off an easy decade of wealth building. Not to mention the tax benefits of having loans. I retired doing this at 30
Banks make most of their money on mortgages and loans. Even when they have to foreclose they can make even more money.
@@CycleCruza Yes, for a 30 year mortgage obviously. The majority of big time players in the real estate game, are using loans. Not only does it rapidly accelerate growth and wealth, it has a major tax benefit. Not doing so would be silly and take you many many years to remotely even come close.
All that matters is property taxes. Banks make only a pittance.
You are a fool to deal with a for profit bank.
Best to use a member owned credit union.
Finance only if it's too good of a deal to miss.
If only the government could be like you C.C.
Being debt free is freedom!!! Thank you Cruza for the motivation!!!💯👍🤙🏁
Been watching you for years now. Love the videos. I appreciate the information you give ,and I can tell you are caring person thanks. No f*****-up days!
Dude, you are so right. The secret for you all out there is this...and it's this simple but it's this hard, but simple.....sacrifice when you're young, don't blow it trying to live it in your late 20's and 30's, just chill and focus on work, then in your late 40's to 50's you gonna be smiling. Don't be stoopid.
Another tip: buy your toys 2nd hand from private sellers for a price that you can never loose on. I shop in Sept, Oct, Nov when the season is over and Xmas is on the horizon and people want to sell low. I bought a Zodiac boat when it was snowing which I could have sold with $3k profit in the spring. (I still own it 12 years later) and I bought a WR250R with 5000 miles in the pooring rain in the fall, for $3K less than new, including large tank, skidplate, tank bag, luggage and racks, barkbusters, 2 seats and a new set of tires.
Been living this way the past 3 years as a father. I still buy decent stuff I just don't overspend, I hunt for sales, I buy what my family NEEDS, I only buy things for fun once in a while, and I save over half of my paychecks if not more. I only keep 300 on my checking account at all time and rest goes right to savings! I am doing great savings wise and we never have to worry about a thing. Bills on autopay and still every check adds up to savings, yet I still work with ppl who are in debt and struggle check to check cause they don't know how to live right
I guess that's how you have to live when you've got kids. I would hate to spend my life working to pile up $ and never get to spend it. My friend's grandfather did just that, wage slaved his whole life, scrimped and saved every penny so he and his wife could travel when they hit 70. That age finally rolled around: wife got dementia. He is a sad shell of an individual and I can't say I blame him whatsoever ;-;
I’m in the process of paying off debt. Paying isn’t the hard part, staying consistent while others are telling me I’m crazy to be doing this is my twenties instead of “being young” is the struggle lol
You are the Master P of the motorcycle world. Much respect brother.
Thank you for your real advice! These things seem like common sense but so many of us just don’t think about it because of the ill advice of OTHER people who are also trying to make money off of YOU (take out this loan, open this card, etc). You are so smart. So glad you are sharing this with the world!
Like this type of content cycle Cruza! Motivating!
Thanks for the good advice man. Such a beautiful home I’m so jealous of that land. Livin the dream!!😀
Man, I knew this guy was cool. He just got cooler. Thats why I subscribed!
Wow this was an awakening for me, thanks for sharing!
Thanks for viewing!
Great work, and an admirable way to live! This isn't a philosophy I subscribe to, but I understand how well it can work for a lot of people.
Cruza You are the Man I have tried really tried. Follow Dave Ramsey, drive a used car for years, work ,budget. Hope someday be able to pay cash for a home.😪
My wife and I are 30 and just bought a $330k house in cash for all the reasons you spoke about. We own two new cars outright and have 0 debt. Now we have hedged our risk in the case of an economic downturn. Like you said, I can work at McDonald’s and provide for my family. THIS is where our wealth building truly begins. I have free’d up my income to invest heavily AND I have minimal risk. We will be multimillionaires by our late 40s
That’s great financial advice I’m trying to follow the same steps as debt ain’t easy to overcome.
Getting married and having dual income got us way further ahead then we could have on our own.
Great video! Some great financial advice!
It's my birthday 🎂 great video thanks for the 🎁
👍🏾 FACTS well spoken CASH 💰 that’s how it’s done I’ve never even owned any credit cards either no loans etc. own everything and have titles to everything !!!!!!
Nice! Stay blessed!
Here's how it was all really done: that UA-cam money done added up.
I'm currently making close to six figs, currently renting a room but usually live in my van, have a vasectomy so no kids, eat cheaply, shop at thrift stores, have zero debt... I'm saving fast but all that would be gone if i bought a bunch of bikes cash and other things. Normal middle class jobs will not do it. Other than that👍👍
Outstanding advice 👏 I live the same way 👍
Yes sir live like no one else so later on you can live like no one else, everything in life is a sacrifice, it pays off at the end , financial stress sucks
Brilliant advice brother.
People need to hear that message...truth. The kingdom lifestyle.
Thanks for viewing!
I just recently stayed at a B&B. while I was talking to the owner he said they get enough people staying there to where his house payments are fully paid. Nice house too
I was going to do AirBNB part time but decided not to because this place is like new and I would hate to see it trashed. Also, people can bring bed bugs and roaches to rentals. I read too many horror stories. It just ain't worth it after all of the taxes, fees, management costs, cleaning costs, extra insurance, etc you have to pay. Not to mention the liability risk of getting sued if something happens.
@@CycleCruza your property taxes could go way up too if the state takes away your homestead status due to renting out the house.
@@CycleCruza and you would need to go to the b&b and clean it before the next renters checked in. Where I stayed the family who owned it still lived there! I had my own room and bathroom but it was still kinda awkward
You give great advice man and that’s actually a smart reason to keep a credit card as long as you pay the entire balance in full every month!
☺👍❤I love you, man! More people need to hear this.
I agree with your financial philosophy !!!
Thanks for viewing!
I needed this..
concrete slab in front of garage seem to be graded toward the house, probably needs regrading or channel drain install?
You got some good advice and a beautiful home
Thanks! Stay blessed!
Great advice!!
Dave Ramsey deal if You have say 5 incomes coming in and You stuff that money away instead of pay the houses down, I would think that You would have a strong cash hand
"Make 20 pounds a year, and spend 21, that's misery. Make 20 pounds a year and spend 19, that's happiness." Charles Dickens
Forgot to mention your inheritance. Also the acceleration clause of a mortgage is only after a default and is extremely rare. Most just foreclose after every last avenue is taken.
Yea he always leaves out the point in his life when he had no money to having money and when someone asks about it, he just says he had a business...won't ever say what that business was, but it's clear he was left some money and sold off his grandma's house for more money
We love you, CC. We'll have to agree to disagree when it comes to saying all debt is bad debt. That's like saying all risk is bad risk. So why even ride motorcycles let alone get out of bed in the morning? Good debt is financial leverage that provides the opportunity to increase your net worth, quality of life, or both. Of course there's a level of risk associated with taking on any debt. You are extremely risk averse which is totally okay. That's a personal decision. We all must do what we're most comfortable with. Much love, CC.
❤❤❤
Actually, I made my first big profit off of a mortgaged house but I nearly lost it to foreclosure and it came with a lot of anxiety. As stated in the video, after that experience I did not want to live like that anymore. Go and watch Dave Ransey's new seminar, he used leverage as well back in the day and bought a bunch of homes with no down payment but lost it all and went broke when the bank made the loans due and he couldn't sell all of the house to pay the debt. What people don't realize, which I talk about in this video, is the banks can make a loan due immediately for various reasons stated in your loan agreement and take your house and equity. True wealth is built debt-free. When you own your real estate outright and 100% debt-free you'll have a lot less overhead and will reap full profits and be in full control of your assets. With leverage on properties, you don't actually own anything, the bank does! Playing with debt is like playing with fire, it can burn you. Check out Dave's seminar: ua-cam.com/video/iXvvcpld-b0/v-deo.html
Awesome video for sure.
Ive noticed that most people want to live as comfortably as possible, especially women.I think they dont see the value owning your own house/land(freedom) , for most its comfort living and looking better(richer) than the neighbor.
There is a new generation of young people that are finding alternative ways to live mortgage free such as building tiny homes on bought land, living in a RV or van, making a container home, living in a travel trailer, etc. Many people don't want to be enslaved to debt anymore.
Thanks
True
I’m 19 and I’ve always wondered why people buy things they can’t afford or why they even want a brand new car when they most likely have less then $5,000 in the bank and are in college and will have to pay that off eventually. People in my generation need more financial advice I know I found it else where outside my home and that’s what people need to be more proactive on or by bringing it in the home, also people wanna go to college for the college experience but could get two years of college done at a community college for half that, then transfer and still get that experience if they must. Do not buy a brand new car unless you are paying for it in full, you can’t afford it if you can’t pay for it in full and then still live like you never spent any money.
Here is my secret. Kicked out of my house by my dad at 19. Bummed around with a friend, got a job at Kmart (lol), moved into an apt with roommates for 3 years while saving more than half of my earnings (living like a monk). Bought my first house in my 20s for 260k mortgage. Sold it for profit, bought a second home for 600k, sold it for a million 3 years later for 550k profit after commissions, and moved to a different state and bought acres and a smaller home in cash (than my last house). Living the dream buddy.
I think thats why real estate people get a loan from a private lender instead of a bank. Idk im still researching.
Your secrets are safe with me. Ran into your only fans account by accident. Never looking at naked bikes the same again. 😂😂
I don't know who you saw but it wasn't me.
Appreciate the guys in debt, they keep the banks in business... Killa that line anyways I do agree with you, I hate date and I learned the hard way, I lost about 4 years of finance and can never get them back it was quite the lesson do people know that when you take a loan you spend the first 30 to 40 percent of the period paying the interest? ( Or giving out money that you didn't even borrow )
Take it from someone who worked 3 jobs for 8 years. He did everything right. And if i didnt mess up and have a child with some bimbo and get put on child support I’d be retired by now. Instead i have 80k cash and can’t afford to buy a house because I can’t pay all cash. I put offers over 50k and still only top 3. So now i live with my mom and pay her rent. I hate it but it beats paying 1800 for an apartment
Thanks! Working on getting out of debt, so I can be free and live where I want. It's a slog, though.
Thank you 🙏🏽
Do you have a car cyclecruza? Besides the van
Good advice! My question is how old are?
Borrower is slave to the lender
Look at Skittles looking over at the house.... ☹️ “I wish he’d let me in his dream house with 20 acres”
We have similar spending habits
You’ll always be a slave to the lender
Truth!
Try that plan when you have a wife and kids cc
I know a lot of people now a days buying homes in cash
Great day bro
You too!
And I wanted to buy a moto with credit
... South American here
Thanks for the breakdown C.C.
Hey you still dating the lady you spoke about before you moved to your new place? Reason I asked, because I was hoping to see her learn how to ride on your channel.
@@dr.jiIIaIicecooper2587 the reason I asked is because he talked about it in one of his videos. He was talking about bringing her to the channel. And trust. I've been following him for years. I know that he is a private guy. I was just happy for C.C. when he announced it.
Debt is dumb, and cash is king
I am starting to save up and plan on living with my parents for sometime. So I don’t have to pay for living expenses or food really. Live below my means
Debt is a form of slavery. You no slave with no debt
i have 0 debt but im on fence of paying cash for house or get mortgage. feel like id be missing out not investing the money since 3% is nothing i def could get more from investing
But do you realize that you won't actually own your house? Also, with a paid off house you can actually pay yourself back with the extra money you'll have every month that you won't be paying to a bank and you can invest it, so you are not losing anything and you'll OWN your house. Also, if you lose your source of income it's a much easier paying only property taxes. You don't even have pay for home owner's insurance if you don't want to. With a mortgage you are forced to pay for home owner's insurance to protect the banks's asset that is not yours.
The key is be patient
Moderna stock paid off.
God bless 🙌
never heard of a bank asking for the mortgage to be paid in full in the UK. Agree with the frugal lifestyle but Paying for a house in cash is just crazy.
It has only been crazy for the last 50-70yrs... ask yourself why that is.
As stated in the video, in Medina Ohio, there was a 90 year old woman and her son and they never missed a payment but their bank got bought out by another bank and the loan was made due in full because of a clause stated in the loan agreement (fine print). Obviously, she couldn't pay the six figure amount so they foreclosed on the property and put her out! Google it and many other cases like hers. Banks OWN your mortgaged real estate, they can do what they want as long as it's stated in the mortgage agreement you signed. That's why its imperative you read the fine print of anything you sign.
@@kingdomcome1617 because they aren’t making any more land and the population is rising
@@YorkshirePork lol, that may be True in a populated place like England/UK, but not here in the States. There is more to the story unfortunately.
Yo CC, why u messing up my plans bro?...I mean, I was going to finance a new bike. Now I'll guess I'll go live off the grid for a few years and save up.... 😢
Is living frugal why we don’t see a Mrs CycleCruza? 🤔
Fact: Last time I was engaged I went broke. lol Luckily, I didn't get married.
@@CycleCruza exactly! But I like the guidance you give people. I live a lot of that same way but I realize that the world is credit driven so have a 830+ credit score just in case 👍
Not all debt is bad debt!
It is.
ALL debt is bad.
@@dr.jiIIaIicecooper2587 good debt = mortgaging a house, fix it up a bit, sell it in 2-3 years and make an average of $50K-$80K. That's a classic way of using debt to make a profit.
@@mkgzt Tell that to all the people who were trying to sell a house in 2008 during the housing crash and got foreclosed on instead.
@@dr.jiIIaIicecooper2587 Cyclecruza uses credit cards to make money himself! That doesn’t sound bad to me :)
If you're making $50,000 a year and you live like you're making $30,000 you're going to have money you can save. A lot of times people when they go from 30000 to 50,000. They start having more bills cuz they feel uncomfortable enough to buy this and by that. But you should still live like you're making 30 and you will have money to save up and you'll have money to pay off all that debt.
Divorce will definitely mess you up financially
Lol the Popey Jones 11s. Lol jk, yo do you use credit cards for the rewards. I use my credit cards to pay all of my budgeted expenses in 2021...paid it off every month and got back $1700 in cash back. Build your wealth and get married idk, I think if you got wealth it's hard to find real love. They ain't loyal. 😂😅
i fuckin love TJ max dude
I'm Canadian but isn't interest tax deductible in the US? That's free money.
Only people that are as debt free as you can get are nomads that live in a van or RV.
Just be sure to pay the tax thru liability insurance and vehicle licensing and registration!
There are two things in life nobody can avoid, taxes and death.
@@CycleCruza You can thank interbake for making sliced bread world- wide.
@jake the dog One thing to consider is the amount of freedom you will have. Consider the amount of people swarming the US southern border. If democrats realized what the illegals were fleeing from, there would be a Ma-deuce cutting invaders down every 100 yards. But they are proven idiots.
@jake the dog Rent, insurance and taxes,
If you own or rent, that must be part of the cost. 100-150 a month to have an RV in a driveway is dirt cheap.
@jake the dog Cycle Cruza needs to find a van or RV dweller that can watch his property in Georgia during the summer while he's gone.
If the lender deems himself insecure. Wonder what that means
If I can ever get my 26k in debt paid off I can start saving...don't be dumb with money kids.
You not 100% right on this video. Your 200% right.
You want to know who actually owns your property, just miss a tax payment or two on your real estate.
The government is the thing that actually owns all property.
Debt, if considered just as a tool is neutral. Some people can afford debt and some cannot.
Depends on how much income you have every month.
That's the excuse people say who are in debt. I used to say that bs too back in the day. There are two things you can't get out of in life, taxes and death. Whether you have a mortgage or not you have to pay property taxes, that is what funds the police, fire dept and schools on your town. However, that doesn't negate the fact that either you own your property (name on deed) or the bank does and you are merely a tenant to the bank waiting for you to miss payments and swoop down and put you out of their house and take all of the equity you built up. PS. If you don't pay the annual license plate renewal (tax) on your car you cannot drive on the street, if you drive without paying the tax they can take your car (impound).
@@CycleCruza True.
So who is it short of God that actually owns everything?
Hint : it ain't you!
:)
@@CycleCruza Only thing you really own is your electric bike and your silverware, plates and clothes and cash. LOL!
That's why works of art are worth big money too!
Have a billionaire old buddy that has over 10 million worth of paintings.
BTW, you can use paintings by renowned artists as collateral for loans too.
@@CycleCruza Like anything else, debt can be a bad or good thing. Depends on how you use the hand you've drawn by your own choice.
To be debt free is always the safest choice BUT eliminates any potential monetary gains.
@@CycleCruza I've had my portfolio between 10-20% as very high risk. Can't suffer if I lose and when I win it's gravy.