Home Buyer Mistakes to Avoid
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- Опубліковано 27 чер 2024
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These three habits are preventing you from buying a house: ua-cam.com/video/Rb38pYzsQyI/v-deo.html
I am in the process of buying a house. We did the inspection and several vertical cracks were found that had been repaired. I want another inspection by an expert in that area but not sure who is. My realtor says the buyers can refuse another inspection and only have to fix major problems. I think cracks in the basement walls is a huge issue. If they don't allow me to check I want to walk away but realtor says they can sue me for breach of contract. I would appreciate your opinion on this. Have you experienced a similar situation?
Can you do a video in Spanish ?
Hey Javier! Love the quality of your videos! What camera and lense are you shooting with?
Thank you for sharing 😇 prayers for your dear daughter 🙏 hope she is alot better and her illness will be cured forever ❤️ in Jesus precious name💖✝️🕊
@@armanisells I w ab m but🎉🎉 ❤❤r we
I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.
Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.
Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.
Mind if I ask you to recommend this particular coach you using their service?
There are many financial coaches who excel in their profession, but for the time being, I employ Sharon Marissa Wolfe because I adore her methods. You can make research and find out more
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
I bought a house in 2021. The insurance and property taxes have doubled since then, and now costs more than I ever paid in rent in my life. I feel that I would be better off living in a studio apartment in a warehouse again and investing the money in anything else.
i suggest you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now
You are right! I've diversified my $450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
The fiduciary that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name. She's established.
Thank you for this lead. I searched her up, and I have sent her a message. I hope she gets back to me soon
I’m 24 and I don’t have parents, hoping to get my life in order. You have no idea how much this advice means to me. I don’t have any guidance. Thank you sir for taking the time out of your day to post the content you make. I’ll subscribe.
You need therapy
Good luck! You got this!
@@MinecraftInfo2000 everyone needs therapy. At most this human is aware
I have parents and one is disabled I’m 32 with 80k saved (taken by inflation. Probably worth 50k now). And they need my income. It’s hard to fry when my parents weigh me down. But be content the for a while the lord makes us all suffer for a while then he eases. Keep on believing. Listen to Sade
Hi David how’s are you? Your already ahead in the game this young and listening to this advice Is awesome.
I think this made me realize how unprepared mentally and financally I am to even consider buying
I thought I was ready😟😂
That’s a sign of maturity.
You will never be ready given how high housing prices are rising
Same
@@hockeycentral1149 very true
When prequalifying my fiancé and I sat down and decided on a monthly payment we would be comfortable with then went to our lender and requested a prequalification for that amount. We were then informed that we could prequalify for almost double what we asked for and we turned it down and stuck to what we were comfortable with. It also helped us dodge the temptation of getting a home we knew we couldn’t afford or would be more than we were comfortable with paying. I’d recommend all first time home buyers do the same.
Very smart. Folks can get qualified for crazy amounts and with this market, it’s tempting to “dip” into the upper range of what you’re pre-qualified are. We are RESISTING THE URGE...
We did the same.
This is what we will end up doing. I know we will be prequalified for ~600k, but I'll be damned if I buy over 350k.
Exactly me and my wife agreed to that because of the overwhelming cost of child care that she would be stay at home and we would get a house on single income.. best decision we ever made.. and for those who still have car payments and CC debt. Pay that off before you get a home it will be worth it when the grind is over!!
@@Rainbowrobb I saw a “house” sell here for $400k that was 750 square feet and last renovated in 1937. You must not be in the Bay Area.
Qualified for 250k closing in a few days on 185k house 🙌🏾🙌🏾🙌🏾
Congratulations many blessings
Congrats
Thank you!!
I guess this this last time you’ll be commenting for a long time. Congratulations!
AYEEEEE CONGRATS
Homebuying as a millennial feels like the end all be all. It’s a little discouraging sometimes when you realize to even just live takes a crap ton of money.
Haha definitely! In this market (especially in those with higher average prices) buying your first home can be very difficult. Just getting onto the property ladder can be the hardest part
Young adults these days are rushing into home buying before they are financially ready. I was 33 and a professional engineer before purchasing my first home with 10% down. Don’t rush it. Buying a home you can’t afford can be a curse not a blessing.
It will change bro, this is just another cycle.
@@joshhoward1289 From what I've seen and experienced, buying is not the problem. The real problem is people getting a home and/or car they can't afford. I bought my first fixer upper home, at 15 years instead of the standard 25 to 30 years. I added a couple of rooms and improvements and it's now worth more than double the price. I'm almost done paying it too :) I could've gotten a brand new home but I decided it was too risky and went for the older fixer upper.
Don't worry, it's only gonna get worse
Here is a good one, don't ever let your Real Estate agent pressure you into making an offer on something you don't wan't. If they give you crap drop them ASAP and find a better one.
I couldn't agree more. The Real Estate Agent should be there to inform and advise you, not to push you into decisions you don't want to make
💬.....I thought you had to sign an agreement to work with them only
Me rn figuring out that my RA is shit
when you can't even budget for rent
but you're here anyway
😌
Why you gotta call me out like that?
Crying in millenial....
Don’t be so hard on yourself. It’s great to know these things even if we can’t have it right now. We will later!
Where I live rent and mortgage payments are basically the same🙃
We already bought the house but still watching this lol
Same
Congrats!
My wife watching this channel, us finding a house through her WATCHING THIS channel is why I subscribed.
My wife has sworn by this channel, thus I started coming here.
He is very good.
Everything he has said is on point and in my opinion....played out exactly how he says it does when you going through the process of looking for and purchasing a house.
Congrats.🎉 I can’t wait to get that point..we’re under contract supposed to close next month...
Same!
That house fund will also be needed to buy all of the things you never knew you needed when owning a house for the first time. When people buy a house I tell them ‘get ready to live at Home Depot.’
*sobs and wipes eyes with my many Home Depot receipts*
When your rent is more expensive than mortgage its time no matter what.
Edit: been in my new home now for 6 months and my electric is way cheaper than my 2 bedroom apt and stays cooler. The two bedroom I moved out of from they are asking 1800 a month. Yeah way better folks.
Just be careful. A house is Rent, utilities PLUS all the extras the landlord typically takes care of; roof, siding, water heater, air systems, plumbing, property taxes, etc. Never buy a home based only on comparing mortgage payment vs. current rent.
I would caution against that thinking. Homes cost more than just the monthly payment. The risk you take on by being tied up in that home is exemplified by the lower cost relative to renting. Renting is lower risk (your landlord takes the risk on you and it’s not collateralized) so the cost is higher.
This is true even though you are completely responsible for everything at that point. However, you do get taxes back and if you budget wisely you can make it work. You can always get a part time job too if you want to build up a savings fund. :-)
@@aygwm My landlord takes on very little risk. They make very few repairs and still raise the rent every year.
Facts same here! Rent high and low rental inventory!
WHO SHOULD I THANK IF NOT FOR RAUL THAT FIXED MY CREDIT, I WAS SO SAD AND UNHAPPY HAVING 430 FEW WEEKS BUT I'M PROUD TO HAVE 830 TODAY THANKS
TO GET YOUR CREDIT FIXED
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My sister and I just turned 21 and we’ve been looking to buy a house because of how toxic our household is and this gave me a sense of comfort that it takes a lot to be a home buyer, especially at a young age.
Absolutely best of luck ladies!!
In Jesus name May God open a way ❤
Yes they love to get the young people but do your research and have good amount savings 10 k at least after u get the home also do inspection with plumbing or heating and cooling systems so u know how it's running ... they are main heart of a home .. u don't want to spend 3 to 50k if something like that don't work or breaks after couple yrs ...
@@Cocoisagordonsetter that’s very true, her and I have our own place together now 🥰
Happy for you both ❤!! @@Morristwins
I have an emergency fund, and income replacement fund and a house fund. Javier is speaking the 100% truth in this video! I could go on and on about the mistakes I made when I bought this house. I'm happy with my house, but I would have done things differently.
Like what? If you don’t mind sharing
Like what?
I think its very important to go into home buying prepared. It is likely the biggest financial decision you will make
Yes please tell us..I don't want to make those mistakes too
Conscientious citizens need to talk about all those abandon homes, not in the market. Banks and real estate agents are partnered together to jack up prices.
The property values dropped but the prices didn't change.
They used tax payer money to build those homes and renovate those homes but they aren't pricing the homes by their true value.
When I was buying the house I am in, one of the relators I was working with tried to get me to bump up my max budget by like 30K because I qualified for that amount, but I knew that would make me house poor. Ended up not going with that relator because he was way too pushy about it.
Thank you so much for your help *credit lord* I feel like I am a credit human again!
I live in California and the rent is ridiculous for 2 or 3 bedrooms. It was cheaper to buy then pay rent, but coming up with the downpayment, closing cost is extremely hard when your paying $2,000-$2,600 a month in rent not including utilities and everyday expenses. Plus don't get me started on saving impossible almost to save when everything is increasing in price exact your pay check.
Can I get an amen
This is what I worry about in the future.
I’m in San Diego, I’m paying $2050 without utilities on a 1 bedroom 1 bath 😭 it’s going to be awhile until we have savings for a house, definitely considering moving out of state.
@@unitedwestand5602 that’s great! We have family in Texas and Indiana, so that might be a future option. Good luck on your journey!
@@kathym5493 Dang Kathy, my wife and I are also in San Diego, but we have a paid off house. There are plenty of nice areas in San Diego that have 2BR/2BA for rent around $2000. East Chula Vista where we live have million dollar homes with low rentals near around that price above.
As someone who has never bought/sold a house, I recently joined my parents in the process of selling their home (since I would be moving into their new one to save up for myself). It was the first time they had moved in 30 years, so we all were learning a lot together.
Definitely a big thing I learned was how much “other” money you would need for the process.
1) Closing costs, inspection costs, costs to repair things post inspection if you’re the seller, a goodwill payment, etc. These were things I never thought about before.
2) I’ve moved apartments a lot, so moving costs aren’t new to me, but it goes back to the timeline thing. Moving apartments and moving houses isn’t the same, and timelines aren’t usually as clean. So you not only have the normal moving expenses, like supplies, movers, and tips, but you also have costs like short term storage and overlapping rent/mortgage.
3) Household necessities is also something to keep in mind. For instance, when I buy a house, I will be moving out on my own after having lived with family. That means I will need to start a pantry and fridge from scratch, buy all new cleaning supplies, get any household items like light bulbs, trash bags, toilet paper, etc.
4) And then there’s things that are unique to each place you live. Like you might have one more bathroom than you did before, so now you need to buy a shower curtain and rod, extra towels, maybe a soap dispenser and a tiny floor rug. Or that dining table you had in your old place is too big for your new place, so now you need a new table.
Basically what I am saying is, the biggest thing that I learned is that saving only for a down payment is a HUGE mistake. I always thought, “I need to save a 20% down payment, and I’m set.” That’s just not true.
Thank you for all your insight
Quite informative
Yes i wish i knew all this information
True, when I moved into my apartment, I needed to spend on paint, lighting, a new table and chairs that I wasn’t expecting to spend.
Why is saving for a down payment a mistake?
Just got pre approved for a 200k loan. Mine and my wife's income is about 80k combined. Got a 3% interest rate and with pmi (our down payment is low) the total with insurance and everything is 950 per month. And pmi goes away after 22% of the loan is paid off so that's nice. Hopefully all goes well, we are renting a house paying 1400/mo now so it'll be nice to save some money
That sounds amazing! We used to be able to find deals like that here in Texas, but those days are long gone...
Hows it going after a long year?
Is now a good time to invest in stocks? I know everyone says stocks are cheap, but how long will it take for us to recover?. The fact that others in my field make six figures each piece. Obviously, there are strategies to be used in this market, but these strategies are not available to the average person, so am better off putting my money elsewhere. I am fully aware of the expense of working more to get more money.
The top experts, however, have access to confidential information and data that is not made available to the broader public. Being knowledgeable enough to use them successfully is quite another. Big returns, not changing stochastics, are the key. Rewards and risks must be balanced. To reach your aim, pick the right size and turn your edge as often as necessary.
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@@AnthonyHart34 I was able to comprehend profit generation better with the aid of my coach, "sharon lee casey". By searching for her online and going to her page, you can contact her. I have complete confidence in her as a financial counselor who is licensed by the US SEC.
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Only thing I learned from this is that houses are expensive af, and that’s the real issue.
Yup , here in Houston a modest house 2B,2R is 260K - 400K.
@@xhtownx1524 man wait until you learn about California lol
Ikr here in Italy even smaller house are so expensive I can’t 😓😓😓
The mortgage payment is only half of the picture. You still have homeowners insurance and house upkeep and repairs.
@@xhtownx1524 yea but the salaries are lower too so same thing isn’t it?
“Send me a nasty email and make me cry” earned you a subscriber 😂 the solid advice is just a bonus.
insane how Americans have to prepare for emergency health costs.
Thats with insurance as well imagine no insurance...
Yup it’s bs
Insurance is about mitigating your exposure to risk. It is not about eliminating any risk.
@@wiseowl2020 Its a scam
@@SunShineStateMetalShows Do you understand how health insurance works?
I realize not everyone has the same credit problems but these folks were fast and really worked for me. *credit lord*
When I do get my house that’s my house for life. Hopefully my kids will take over the house when I’m gone and raise there kids in it or have it as a second home.
I was single when I started looking for a house. This was in the mid 2000's
1. I paid off all my debt.
2. Went to my credit union, to get an estimate how much they would lend me.
3. each paycheck I would buy stuff for the house.
4.. Estimated how much I would need to save in emergency fund for 4 months of living expenses.
5.. I looked for a Repo house.
I found a repo house that needed some work. 3 yrs, after I moved in. I was diagnosed with cancer. The following year. I lost my job. Fortunately, I had saved that emergency fund. That helped pay for the mortgage, cobra insurance, and utilities. Since I couldn't look for a job, due to going back to the Dr's and hospital for cancer screening. I was out for 2 and half months. Don't save for a rainy day. More, prepare (financially) for a hurricane. You just never know
Hope you doing better now .
I think the timeline thing is extremely important. My timeline lasted TWO YEARS! That's how long I figured it would take to get my credit where I needed it, seriously reduce my credit card debt and get the savings I needed for both the down payment AND an emergency fund. It sucked waiting that long, but it was worth it.
I did 30% of just my net. Married, 3 kids, and stay at home wife. Slowed my investing down until the kids get old enough for school. We live “ok” off of just my income. Not a fancy home just ok cars which are paid for. Once kids get school age and my wife goes back to work her income is 100% extra. Living above your means looks good and feels good…. Until it doesn’t. It’s not worth the stress just be happy with a bit less.
damn, Javier is on fire, and is 1000% right! Wish I had seen this video before purchasing my property. The Bank Mortgage Officers and Lenders don't really care about the reality of someone "actually" being qualified to afford a loan. They'll pretend to care, but in reality their goal is to sell you the loan (even if they know it is over-leveraged) as quickly as possible without truly understanding your finances. Buyer beware sign - tread carefully and know your numbers before letting these bankers fool you into signing the dotted line. Real Estate might be the most over-rated investment asset even though the media has tricked us into thinking its the American dream.
My 2 daughters also had febrile seizures growing up bro, and it was scary af every time it happened. Luckily, they both grew out of it at around 3. Hope you daughter’s doing good now. And thanks for the helpful advice!
My son had febrile seizure, as well. He out grew it at 4. Fingers crossed that your daughter will do the same!
Be careful when he has high fever. He might have febrile seizure again. My son hadn't had it for years after babyhood/childhood, but he had it at the age of 11 after many years. Be very careful that he doesn't have high fever. Don't wait, call ambulance when he has high fever. Stay in the same room when he is sick and check him. Sorry, I had freaked out when this happened to my son at the age of 11 when everywhere on the internet it said that it would stop at 5 years old or 6. Not 11. Now he is 15. However, God forbid, I am feeling that he might even have it when he is an adult. He is apparently very sensitive to high fever.
No 1 rule of any purchase “know thy net worth”
0-2 months to find a house?! We have been at it for over 2 YEARS. We have put in countless offers and keep getting out bid. The market where I am is INSANE. Houses are going for 20k over asking and aren’t worth it. I can’t get behind overspending on a fixer upper. I’m ready for the market to settle down.
This spring will be going on to 3 years for us! U are right ! Market is nutzzzzz
Same!!! I have not been able to get the home I want because of people coming to the valley from the city and are willing to drop extra cash or over pay. When just a year ago those homes weren’t even worth what people are paying. I just want my new home!
It took me over six months.
Where are you?
My offer got accepted at only 8k above list 🤔
As someone who’s been looking to buy a house I’m very grateful I stumbled upon your videos. So much great and useful information! I enjoy these videos, thank you for such great content and information!
Thank you for sharing this! It’s sooo helpful being someone like my husband and I who want to purchase in 2022 spring time. I’m preparing us by gathering ALL the knowledge possible and we are working the 7 baby steps to have all debt gone prior.
Moral of the story... nobody can buy a house in California...
bought my first home in socal about 6 months ago 3 bed 2 br. i can sell for 30k more than what i paid for now based on the comps that i'm looking at.
Rich people can 😂
@@aygwm you don't have to be rich to buy a house in california lol you just have to be educated, whether that's through yourself or via an academic institution, and you have to have the desire to live in California (there are republicans in the big cities of California despite what other states think, i have friends that are hardcore trumpers and they live in LA)...ask yourself why certain republicans choose to live in the coast of Orange County and LA...simply the lifestyle and the weather SoCal brings. SoCal is always brimming with life, culture and diversity of thought.
If you can rent in California you can definitely buy.....
@@lo8a1990 ???? what???? that's a weird opinion...
Thank you for this great video. Uninvited side note, febrile seizures are no joke. My daughter grew out of them but the anxiety and trauma never left me. A nurse friend told us to give her red Gatorade (mixed with water because Gatorade has a lot of sugar) every time she gets a fever and it worked. It subsided her high fevers quicker than Tylenol. Personally, I kept her super hydrated and cool and let the fever run it's course until medicine was needed. I hope your daughter outgrows them soon
Thank you Ana, it’s always assuring hearing about someone else going through it, it’s bard to explain for those who haven’t gone through it
I have been in my home 9 years but I’m obsessed with this channel 🤦🏽♀️
Our house was the dream floor plan but sooo outdated. Got it for less because it was outdated and over the years we've been able to fix it up the way I want it and I love it! So worth it and not just getting the newest and greatest!
I also don't want to get a new house.. I want to know the history of the house, the stability, quality and conditions of the neighborhood (flooding for example) and my husband wants a super fancy one 😑😆
how did you approach that? how do you identify the right contractors ? one for the whole house or separate ones for different parts of the house?
Great video with lots of facts! Thank you for the help as myself and my fiancé are first time homebuyers.
Hey, I recognize you! 🏰
Same here me and mines trying to get our first home in minnesota here..go luck let me know how it goes
Old guy here. Spent less than 1/2 of what I was approved for on my first home. I loved that house and neighborhood. When I sold that house I bought the house I now live in for cash. It's a starter home, buy what you can actually afford. There will be deaths, births, job losses, economic crashes, pandemics....life changes on a dime. Good luck to all.
So just have an extra 15k-20k on hand and you'll be fine!
That is so much easier said than done. Especially when the rental market is going through the roof right now and rents are going up by $200 a month
That’s basically what I got out of this video😭😭 if I had an extra 10k I would probably have the house already
More like an extra 40k to be safe
@@lynnb2562 Fortunately I locked in my lower rent rate.
I had 30K but because of bidding wars I had to spend 20K over asking. The first house I bid on I spent the inspection fees only to find out that the seller decided to sell to another person. The second house I spent inspection fees on and found out there was a whole in the septic tank and the seller wanted me to pay 12K to get it fixed. Finally on the third house I wan the bidding war. This market sucks.
Qualified for a $300,000 house. Bought a $141,000 duplex 💪
You my friend are on the first step to creating generational wealth!
Thank you so much for this, I haven't heard any one talk about this. My husband and I are looking into buying a house these next 2 years. This is helping so much
investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good??>>>>
I remember when I was in the process of buying a home. I made my own calculations and told the mortgage people I want to be in this monthly payment, how much do I qualify for knowing very well that they were going to come back and say hey you were qualified for x amount based on your monthly estimates BUT we can give you X more. I did spend a LOT of time checking numbers and I am glad I did.
Wow. You’re very informative and easy to watch and follow. Thank you for doing the videos you do! I’ve watched several so far and I love your videos!
The last one was the biggest and most impactful tip. I’m glad I realized it when I the market got crazy. It’s reassuring I had the right mentality
It took us a year to move into our house. The process was sooooo long, but it was getting built in the process too. However, this did help me save $25k that year for down payment and extra savings.
I “qualified” for a house that was 40k more than what I pre budgeted myself to buy. I knew what i could afford but I bought the home I wanted which was 40k less. I also took advice from my father before ever thinking about buying a home. He told me, “wait until your debt free(credit cards,car payments etc..) and I did! I got 1 of those 30 day closings! My mortgage company told me(friend in banking verified) it was one of the smoothest deals they’d closed on this year. Fools rush in and those who fail to plan, plan to fail. I’m Very happy with with my house, and it was because I waited 2 years to find the right home. I know not everyone can do it like I did it but patience and planning is a virtue.
Yup! You want to be "smelling like a rose", also remember to do personal income taxes on time.
Thank you for this valuable information ! Still watching after buying ours .
My 2 year old used to have fibrile seizures ( high fever seizures) , his pediatrician had prescribed a medicine to prevent it . It’s scary when your child goes through any seizures . Hope her seizures healed completely !
I just stumbled into this channel and I am so so happy. The man is speaking the truth!!!!!!!!!!!
Love your videos! I owned a small home just over 20 years ago for a short while but sold it after a year to go live a different life. I'm looking to buy again and your videos have really helped me figure out how to get things in order. In addition to finances, I'm also trying to research neighborhood safety (I live in Philadelphia) and that has caused me to forget about some houses I was interested in. Zillow used to provide color-coded maps to show crime in the neighborhood surrounding each house they list, but they've stopped doing that. It's made the process take more time, but I think it's worth it.
*🔝🔝Thanks for viewing and contributing I'll share some beneficial knowledge let's converse right away the above digit✍️🆙❤️.❤️*
We are finally debt free with a great credit score and finally gonna talk to real estate agent to see what are the next step to buy a house. And thank god for this video
Hate to be the bad guy but you have debt if you have a score. I'm debt free with a 0 credit score.
But other then that congrats on your new home.
Congratulations
@@thegods2622 not true at all. I have no debt whatsoever and have 800+ credit score. I simply pay everything on credit card and then pay it off. A score doesn't mean you have debt. It just shows how well you pay off debt and how you manage it when you do have it.
@@Str8upRippin10 do you have a car payment?
Thank you for your advice and I'm sorry to hear about your daughter's medical condition my mother has a very similar one it is very distressful and I wish more people had understanding or had a basic knowledge on epilepsy
Love that you were so honest sharing about your sweet daughter. But very true, everyone has a different situation. For the first 10 years in our home we qualified for a $1900 mortgage but in reality we were completely house poor spending 38-40% of income on our payment. When I went back to work and our family income increased and our housing payment the. Was only 24% of our income- what a big difference. We are saving like crazy now and have so much more freedom. Wish we had thought about that years ago, but now we only have 9 hrs left on the house so might as well stick it out
Why you did cousin Edgar like that 🤣🤣🤣🤣
Because I wish I could grow my hair like that
I started stacking to SAVE wealth. I've always been the type of person to spend my entire paycheck. I hate having money just sit in the bank. I am under pressure to grow my reserve of $950k. before I turn 60, I would appreciate any advice on potential investments.
I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@@sherryie2 Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.
@@corrySledd That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.
@@corrySledd Thanks for the info, i found her website and sent a message hopefully she replies soon.
Your second to last tip is exactly what I did. I bought a fixer upper that was way bigger and nicer structurally for cheaper than any I had seen. I saw a lot of flips before that and the things they did just weren't worth the extra price tag.
Thanks Javier. You’re one of my favorite UA-camrs now after yesterday’s live stream.
Great video! May I add the following: do some basic research on the neighborhood before submitting an offer. 1) drive around to see what nearby streets are like, 2) talk to the neighbors if you can, 3) check for sex offender and halfway house locations nearby, 4) check the schools even if you no longer have kids at home.
If you just buy a house after a brief tour without checking out the neighborhood you will likely get some unhappy surprises.
All facts!!
This is so hard to do in this crazy market! By the time you do all that, the house is already sold
@@Sims3kaizoku Its okay with me that some people choose to buy during a frenzied market place - fortunately not all areas are over heated, and those that are will cool. Just be patient.
Thanks for the heads up!!
Great information!! Thank you for all that you do , to give us this knowledge.
We need more home buying videos, buying a house is nerve wrecking. It’s rare to find people actually talk about the truth. Your great!!
*🔝🔝Thanks for viewing and contributing I'll share some beneficial knowledge let's converse right away the above digit✍️🆙❤️-:*
Really sound advice. I’m not a realtor but have been through the process as a buyer and seller, and agree wholeheartedly with this information.
Thank you, for saving ppl alot of heartache.
Youre correct, it truly is a terrifying experience. Its a lot of money. I definitely knew I was going to go much lower than the pre-qualified amount. Ask for those cost sheets so you can some real numbers. My realtor was aware of what my price point was and why it was lower than I qualified for.
And all the costs they dont tell you about. You're definitely going to need savings other than what's for the house purchase. Especially in today's market where majority of the time you're having to offer higher than asking.
Thanks again for a great video. And the realtor you referred me to is working out wonderfully!
Aww sorry to hear about Sadie....as a parent u just want to trade places with your child so you don't see them in pain.
Great practical advice thanks Javi.
Thank you for this information...I have debating on selling and moving closer to my job, but I now realize I am not financially set for that yet. Thankfully I currently own my house so I'm not in a dire situation. You mentioned how things may be rocky for the next 5 years, thankfully I'm also very patient. I'll be checking out your other videos. Thanks!
I finally closed on my home thanks for all the info man.. The journey was a whole year because the market was terrible but 2 days ago its official.. Hello from California..
Congrats! I closed last month here too
How much and where in Cali
Congratulations! By the end of 2021 Home prices will take a dip....hopefully the value will rise again within a few years
Yikes Cali good luck
Thank you so much for this video! My husband and I would like to buy our fist house, but we’ve been too scared to move forward. Your video has helped me be able to calculate things and make me feel better about what we actually can afford vs what we’re told we can afford.
We were scared to but its not thst bad some research of course and monthly bills/ mortgage is to be prepared for your coverage expenses.
Also we kinda dived in after having just enough money for fixtures and down payment and our new appliances... also save some money for emergencies ... we are doing ok above water 🙏 thanks for sure ...
Excellent advice!! The ‘what can I afford’ calculators online tell my husband and I that we can afford a million dollar mansion 🤦♀️ Realistically we can comfortably afford a couple hundred thousand dollar home and actually enjoy our lives not being house poor, continuing to build our savings and investments, and pay for those unexpected things in life! Don’t buy the maximum you can possibly “afford.” Biggest trap out there!
A big promise at the beginning and then nothing but follow-through the rest of the video. Excellent tips!!
I’m so informed, thanks
I'm not even done with the video and I'm so happy I found you. The take aways for me are to become educated and take absolute personal responsibility for your decisions. My husband and I are looking to move to another state and your advice could not be more timely. Thank you Javier!
Thank you for sharing the real honest truth that most of people don't get on any channel. Please continue on your great work.
Thank you! Great information! Preparing to start the process in a few months.
Great content man! Consistently bringing the knowledge to all of the homebuyers out there. Keep it up!
No quema cuh
Watching this while staying up all night to do the Tylenol/Motrin doses every 3 hours for my 19 m/o with febrile seizures. Just you mentioning that makes me feel so much less alone- not at all the point of the video, but helped in a way you didn’t intend. I appreciate that.
Loved this video and the knowledge you dropped. My bf and I are looking for houses this weekend and now I have a better idea of what I can expect, good and bad. Thank you so much!
Great content Javier, thanks for sharing!
My little sister had seizures like that they thankfully did stop once she turned 5 but yeah was super scary any time it happened.
Love these videos thanks so much!
My husband and I are waiting 6 to 8 years to buy a house so that we can be really prepared. Were getting rid of all of our debts and saving close to 40,000 also researching so much. We have a son and wanting to expand our family so we want to make sure our finances are in order to achieve everything we want. Patience is key.
Love your videos and your sense of humor. Keep up the good work!
Thanks man! Appreciate the knowledge you dropped bombs bro! I really was just going to go with what the realtor said low-key I didn't know what their doing
You seem like a great advocate for your clients.
Do your homework, work on your credit score, be ready for a bidding war, have your emergency money ready, like he mentioned it will be a couple of interesting years ahead.
Believe in yourself for a positive future.
Best comment💯
Dude You are by far the most honest on UA-cam Thank YOU!!!
Sorry to hear about your daughter wish you and your family the best, your videos are a big help btw.
I’ll pray for your daughter...
Yes, me too
Same! We rebuke those seizures in Jesus name!
🙏🏾me too
It's great all your information.
Thanks for the help.
Thank you for taking the time to make this video, I like that it was straight to the point and easy to understand. I'm saving extra money at the moment so that when I have my car paid off I can start looking at my own place, I have a really good rental situation, and I've been building my credit since I was 18, did a ton of research about that too before I turned 18 and I'm almost at the 800 mark, getting my car on a loan is what pushed me over that margin and got rid of my limited credit along with having my cards for almost 2 years now. I wanted to have around 15-20% down payment for the house ready, hoping for some extra rooms so I can use the rent to pay extra towards the principal. I already have a good sized emergency fund, but I don't ever get sick or have any problems so it just keeps growing. I'll have my car payed off early next year and by the time I have it payed off I will have a good chunk of savings too, and the extra money I wouldn't be spending on a car anymore will continue to go to that. I just don't exactly know if there's more I should be doing or not, I would like to have my first house before I turn 21 and it seems like so far that's the track I'm on.
I have been blessed i sold my house 30k above asking price I was able to upgrade neighborhood and house only pay 10k above asking price it helps to have a good realtor im in escrow now crossing my fingers everything goes through and will have money leftover. Thank you javier for all the videos really really help me out .
My rent is 450 a month. I invest most of my after tax money. Everyone else is trying to tell me to buy a house cause rates are so low. It’s not smart, I work in finance and did the math. I’ll continue paying 450 a month for now
You can definitely make your monthly rent payments reflect on your report just before you see a lender. Google Spirassp if you want to know how I did mine. It gave my credit a great boost.
This was super insightful, particularly about the future housing market being unpredictable. Thanks for sharing all this great info!
Great tips and information. These times are just like other times... flying by for sure...
First time potential buyer but my income can't hold a torch to this hot market. Don't want to rent forever but just started getting my down payment in order.
Same boat. Rent would be worse for me so I’m desperate to buy. I have to be out of where I am soon, so the timing for me sucks. If I could wait a year, i would.
Hoping your daughter's health improves. That sounds terrifying.
I hear it goes away as she gets older.
@@JavyVidana I've heard the same 🙏
@@JavyVidana as a physician it is usually the case for febrile seizures, so I wish you the best 👍
Thank you for the info, it was really helpful
Thanks for the content!