I couldn’t take this video serious. It was only half serious with the visor. If you want me to take you serious Rudy, you need to be wearing a small magic booster box tie with the visor
"How long is this video, is anybody even watching this"? Yes and worth every minute of my time, hopefully some people your age and younger watched as well. It can be so easy now for the young to build wealth all they have to do is educate themselves on how it's done. Sadly I'm older and never really had access to this information when I was a young man mainly because I didn't even know to look, wish to hell I had... (Pay attention kids and learn)...
In my personal experience Rudy said a lot of things that are true, but glazed over (maybe in part to avoid any legal ramifications no matter how small or unlikely) some very important parts in the MTV vs Real estate. Mainly how much taxes and insurance cut into your profits. Also with him being in Florida I can understand why he doesn't talk about owning and renting/selling farm land. As well as how different time feels vs looking back/forward. IE getting ~$600 a month (-taxes and stuff) = $200-300 profit a month on a 30K (or so) investment is almost 12% ROI a year, but in the moment the extra ~$250 looks a lot more promising to buy some sealed product and store it away instead of saving for years and years to go for that second home; that you have to find renters and are not getting a homestead exception, because your not living there. Or maybe your in a state with close to 0% property tax, so that doesn't really matter for you. With things like MTG sealed product (or even sliver/gold and to a lesser extent stocks/bonds) you can just buy it and not have to worry about upkeep. I think overall Real estate is the way to go, but it has a much higher point of entry and more of a chance to get hosed in the form of people not paying rent, ect.
@@lotoex Rudy gives long strokes and ideas to research, that's all there really is to it. Not any ground-breaking stuff or specifics but things to look into for yourself.
Rudy is a yougster in his 30s. There is an exit point, or as another old time used to say - time to take the trophy home. ANY investment that is good will be worth more later in time. There is another saying - you cant take it with you... so it depends on your goal and point in life.
Please make a video of collecting booster boxes in 2005-06. That's the time I faded out of Magic, but at that time, it was insane to think that sealed product would increase in value. Absolutely love this video! Please make more about investing especially real estate! THANK YOU!
This is generally very good advice. Please just keep in mind that tenants are not always great at paying and that homes do need repairs and have overhead. Also banks can be very fickle with investment properties. Also ALL of this requires decent income
You just gave me a genius idea. I should start renting out MTG cards. Your a genius Rudy. Thanks to all the local taco shops and Timmy Tuesday’s I should be a millionaire in no time.
Rudy, thank you so much for invaluable advice. After watching several hours of Pink Visor videos I decided to go YOLO all in on Timmy Edition product. I'm confident this will be the best course of action for me and my family. My wife even said: _"Who are you?! How did you get in here?!? What are you doing in my house!?!?"_
Short phyrexian long black and enough with describing my dull life. Love the video. Long time viewer. 26 years young and learning that it's just as easy as it is complicated to find your way in life. Keep it up.
Rudy! Great stuff. Just wanted to add some clarification about those hypothetical HELOC funds being eligible for a down payment for another house. You should be able to use the HELOC money as a down payment on another piece of real estate as that would qualify as 'secured borrowed funds' in the eyes of the agencies. It's using an unsecured line of credit that will get you a fat denial from the bank
Hi Rudy, you should consider going on the Offical TekWar Fan Podcast. They’re into MTG and would love to talk with you about your investments! Kantbot is a super chill guy!
Another important thing about real estate is that location is extremely important (obviously). A lot of people that move to my area (immigrants especially) like to buy up a property for cheap, bulldoze it, and build some monster of a house and flip it. They tend to keep doing that until they get enough to buy a larger property to funnel money through, or at least that's one of the trends I've noticed. It's spiked property prices around here pretty bad though, to the point where no one is buying on these flippers anymore so they're ending up upside down on these houses. I actually am of the same mentality that you have where you should hold onto property once you own it, since like you said, it's another source of income once it's paid off. It's also not becoming any easier to buy a decent property here in my area in this state anymore so there's that too.
I'm personally thankful you talked about the importance of holding an asset and collecting passive income. Unfortunately, collectibles don't provide dividends or rent. However, you have shown me over the years how collectibles rise in value, and I've observed that too. But ultimately, collectibles have to be sold to generate income. I guess collectibles that grow rapidly in value and then sold to buy property would be really good.
Rudy does this non-sexy tedious investment work because it pays very well in the long run. Ultimately, he wants that financial freedom you can only get through business success. He's an entrepreneur.
Rudy, these longer videos are the best! Please continue making them. I truly appreciate the insight and information you give. As a young man of 25 I've been thinking about getting into the world of investing and you've shown me a bit of how all of this works. It actually seems feasible to me now. I've run into the negativity you talk about when I've brought up these things with friends/family members and you're right, screw their opinions, I'm going to max out my credit cards to buy original Zendikar boxes like you suggested in your forum post.
0:53 _"Rudy! I got a rental house."_ _"Before anything-rip out all sinks, toilets, showers, bathtubs and plumbing. Use the same hardened ceiling on the floors, walls, and ceiling, so the tenants can't screw anything. They must feel like they're in a prison's communal shower, and the mean sheriff from Rambo 1 is coming with the high-pressure hose to hose them."_ _"Sounds harsh."_ _"Nah, it's okay. As long as you don't draw _*_First Blood_*_ you should be fine."_
This is my favorite video of yours! I am a property investor and have 2 investment properties, I also love mtg and invested 7k in this from Daniel at 2017 Vegas GP. Both are paying off well! This video is info perfect for me.
Honestly if 20 year old me heard this kind of advice i can imagine making some different choices. I'm kind of jealous of all the information young people have access to these days.
@Dober Mann I bought my house at 22 and paid it off at 26. However the most expensive home for sale in my 60K pop town is 749K. The house is 9,107 square feet built in 1997 with 5 bedrooms 4 bathrooms. 275K will get you Bedrooms:5 Bathrooms:3 Total Square Feet: 4136 Year Built:1990. However if your a normal person I would go with the Bedrooms:3 Bathrooms:2 Total Square Feet:1497 Year Built:1895 for 40K. So even if you had just an average almost full time job at 18, by the time you where in your mid 20s you could be a good bit of a way to paying off that 40K. Even more so if all your other friends want to pay you like 200-300 a month to move out of their parents house and you have 2 spare bedrooms :p. It's amazing how far an extra 7,200 a year for 4 years will go to pay off 40K. So the reality is that you will most likely have to move and get a job that doesn't pay as much, but the cost of living is so much lower that it is a net positive.
I know nothing about or ever got into magic, but Rudy is just the right kind of 'boring but entertaining' youtuber that I can leave playing in the background while I work. Cheers Rudy. :D
Hey Rudy, I like the HELOC idea, but another option would be to just refinance the property if he wants to pull more of his equity, if you search real hard, I imagine you can get about 70% of your equity tax free to put towards more investments, as apposed to the cap with the HELOCs. Great advice though and I appreciate that you talk about more than just magic as an investment.
Hmm, one of my only bigger questions would be around renters. I have a bunch of family who have bought lots of real estate and a few houses got kind of destroyed, people had to get evicted, shit happened; I guess this is the ideal renters who don’t cause trouble! Still, if it would go this smoothly then sweet! Great passive income!
Radical hairy armed giggity lord rudy, greatly appreciate videos not just for the excellent knowledge but once again your videos bring a good positive position in my eyes thanks for the damn good video and keep em comin!!
To rudys patrion don't do storage units. They have been overbuilt. You should sell that house after putting in the money to fix it up. Take that 300k and buy some rentals in indianapolis. For 80k in Indianapolis you can get houses that rent for 1000 and after expenses you cash flow 600. If you sell for 300 after closing and mortgage you would have about 175k so you could buy 2 of them. If you buy just west of downtown but close to the river but south of Michigan St that area might go up 50% in price the next 5 years.
i needed this video, ive been going back and forth on investing. my wifes grandfather is very wealthy and has been advising me... dead on, except im not going into magic just yet.
I just invested an hour into peeling lemons and garlic gloves; grinding them up and then simmering that hizzle for an 7 minutes; investing in Health is what is up.
Short phyrexian # large black snake ... come on man of course I'm watching. This has been my favorite discussion topic lately as I move into the next stage of life haha
Thanks for the vid. I have always been to nervous to do a h lock on any of my properties. I have been getting back into magic lately. Mostly to play but the investor in me don't want to open those packs. 😋
My wife and I are buying our first home right now. Going to the home inspection today. Very excited. Many years of us living like depression people to afford it. So worth it!
I know you're mostly magic, which I enjoy, but I hope you do more real estate/investing videos. I'm looking to buy a second house next year and rent my current one, so any advice you want to throw out there, I'd be glad to watch!
Hopefully that Shivan Dragon never gets loose because that firebreathing ability would do a number on any house. I don't think that kind of damage is covered by insurance.
One work around for using your HELO money for down payment on the next house is to withdraw what you need and put into your checking or savings 3 months from the time you plan on submitting bank statements. Lenders and Banks will only force you to show verification of deposit 60 days out from the time you hand them your earnest deposit check. This is not illegal and was the advice given to me by my lender.
I mean, most of this is just straight up really solid life advice. Even those that don't want to get rich need to know the value of a solid financial foundation. You gotta have that sort of foundation to get to a place where you don't have to think too much about or be stressed out by finances.
Ok so to summarize: 1) pay off your house 2) take out a loan against your paid for house 3) use loan as 20% down payment (and borrow 80%) to buy 1 to 3 more houses 4) pay interest on 2 or 4 houses each month because none of them are paid for 5) wait patiently for the wealth building to begin 6) buy a copy of the book Total Money Makeover and spend years cleaning up your mess
Yes he did. He has also said in different videos to make sure your household is in order before you invest in anything really risky. I still don't understand how he calculates +$1,000 cash flow on rental house #1 in a scenario where he owes $100K on the HELOC. Is he not paying down the HELOC balance?!
@@clarkjansen2048 , To me it would make better sense to sell the house for 300k at MV(market value), and then buy the two 150k houses and rent them out (you owe nothing to a bank). Not much of a get rich scheme, but it would pay your bills. Assuming you rent both houses out at $750 a piece or more and break Rudy's rule of not selling your property. Also following Rudy's logic is that houses are only going to continue increasing in value over time. Having more houses would possibly??? be more profitable in the long term??? If you want to be daring take the 300k you sold the house for and invest it into a lot of houses only paying 20% down. 20% on a 300k house is 60k, so you can buy 5 houses roughly equal to the first house and no breaking the laws. It only requires you to break Rudy's weird rule of not selling property and clinging to it like it's a love pillow. I'm only guessing this will work??? There's probably laws against taking out numerous mortgages??? I have no idea??? If this works: 5 houses worth 300k at rent around $1,500 a month $5,000 a month total on mortgages $2,500 a month leftover I wouldn't do any of this, but I'm a poor person not in any debt and also a bottom feeder as Rudy has called us peasants who turn the clogs to Rudy's credit card schemes...
@@clarkjansen2048 I believe it was take off $500 for taxes and repairs and such and then pocket the $1000. I would use that $1000 toward the mortgage of another rental property I think. Say it's $800. then you are only netting $200 from the original but then you can keep all of the second property money especially if it is a multi unit.
@capn D: I can get behind a plan where you stay debt free. Own two paid for rentals and rent yourself. I just don't see the appeal of giving your money away to banks as you pay interest on loans. The fastest way to wealth is to not give your money away and be debt free.
"For those of you who don't want to stick around for 30 minutes on a video the short answer is real estate is gonna win" I actually ran off typed this comment while dying of laughter LOL. Now I will go like and subscribe.
I feel like you can learn more actual valuable financial stuff from rudy then actual entry level college courses. and in a fun engaging and quick way.
It is illegal and immoral to do this lol
Agreed.
The student debt crisis tells you all you need to know about financial knowledge in college haha
college is for timmys and fools.
I can attest that that is 100% true
Short phyrexian # large black snake iconic masters $1000 I don't know...
missed the word giant
I was going to write it too! Hahahahha
I couldn’t take this video serious. It was only half serious with the visor. If you want me to take you serious Rudy, you need to be wearing a small magic booster box tie with the visor
He's not wearing pants. He's super serious!
true but he needs a monocle on top of that to realy atract the big dogs
He needs a EDH deck box cod piece with "add this to the stack" written along the length of it. :^)
and a solar powered calculator
"How long is this video, is anybody even watching this"?
Yes and worth every minute of my time, hopefully some people your age and younger watched as well.
It can be so easy now for the young to build wealth all they have to do is educate themselves on how it's done.
Sadly I'm older and never really had access to this information when I was a young man mainly because I didn't even know to look, wish to hell I had...
(Pay attention kids and learn)...
I'm 17 myself. I'll definantly be listening to his adivce. Always entertaining to learn from Rudy
In my personal experience Rudy said a lot of things that are true, but glazed over (maybe in part to avoid any legal ramifications no matter how small or unlikely) some very important parts in the MTV vs Real estate. Mainly how much taxes and insurance cut into your profits. Also with him being in Florida I can understand why he doesn't talk about owning and renting/selling farm land. As well as how different time feels vs looking back/forward. IE getting ~$600 a month (-taxes and stuff) = $200-300 profit a month on a 30K (or so) investment is almost 12% ROI a year, but in the moment the extra ~$250 looks a lot more promising to buy some sealed product and store it away instead of saving for years and years to go for that second home; that you have to find renters and are not getting a homestead exception, because your not living there. Or maybe your in a state with close to 0% property tax, so that doesn't really matter for you. With things like MTG sealed product (or even sliver/gold and to a lesser extent stocks/bonds) you can just buy it and not have to worry about upkeep.
I think overall Real estate is the way to go, but it has a much higher point of entry and more of a chance to get hosed in the form of people not paying rent, ect.
Mjr Burn Not spending it on shit like $1,000 phones every year would be a great first step. Alas, noone ever takes that first step.
@@lotoex Rudy gives long strokes and ideas to research, that's all there really is to it. Not any ground-breaking stuff or specifics but things to look into for yourself.
Hey less competition for the rest of us 😎
Everyone knows the real money is in the creepy basement industry
> Rudy: I'm 35.
> Also Rudy: Back in 2008...I"m in my early thirties...
Rudy doesn't age. He has a balanced diet of alpha rares to keep him young.
the older you get the more arbitrary the number are
Just use time walk every now and then.
Dude been casting Time Reversal
"What you should do is cash out the house, become a $100 patron, and buy $10,000 of magic from me every month." -Rudy, CEO of Floppy Taco Industries
"How long is this video?! Is anybody actually watching this!!"
Yes. Yes we are. In its entirety!
Rudy should be a professor at Tolarian state university
He is. He is just in the basement. They removed the door and filled in the hole with concrete for everyone's protection.
12:40 _YOLO Rudy_ with _F- It Investments_
rudy even though i know a lot of this information already i still prefer these financial vids more than anything else
"And I'm gonna explain how I would merge Magic and real estate..."
*Grabs popcorn
Rudy is a yougster in his 30s. There is an exit point, or as another old time used to say - time to take the trophy home. ANY investment that is good will be worth more later in time. There is another saying - you cant take it with you... so it depends on your goal and point in life.
He’s discussing generational wealth too. So bequeath it upon family and offspring and grand children to give them a major boost in life.
Please make a video of collecting booster boxes in 2005-06. That's the time I faded out of Magic, but at that time, it was insane to think that sealed product would increase in value. Absolutely love this video! Please make more about investing especially real estate! THANK YOU!
I’m here from the future.... these were the best videos ever made
I love these videos. I have one rental property in want to expand the empire. These videos get me very motivated
Rudy, I know magic is the main drive of your channel but these videos are why I subbed.
This is generally very good advice. Please just keep in mind that tenants are not always great at paying and that homes do need repairs and have overhead. Also banks can be very fickle with investment properties. Also ALL of this requires decent income
Great video Rudy.
I agree
Thanks Rudy! I honestly feel like I learn realistic ways to look at finances and investments watching your videos. I appreciate your perspective.
I live in California and these theoretical housing prices make me feel dead inside.
Your very own San Francisco apartment for just a million dollars! Thank you zoning laws! 😒
Same
I havent played magic since 2006 but I stop doing whatever I was busy with when I see you have a new video up.
Real glad i found your channel. Hope you keep this kind of stuff up for a long, long time :D
This channel is pure gold
This is such great content, possibly lifechanging really
This might be the best video you've ever done! Keep it up brother!
Any finite resource you can own and hold on to without excerting yourself is a great investment.
Advice on how to leverage correctly is something I wish I had 10 years ago. Thanks for the great video!
You just gave me a genius idea. I should start renting out MTG cards. Your a genius Rudy. Thanks to all the local taco shops and Timmy Tuesday’s I should be a millionaire in no time.
Absolutely love these videos Rudy, thank you.
Great class today Mr. Hairy Arm guy I leaned a lot. I appreciate what you do for this community
Very valuable stuff you´re teaching. Thank you for that. And a nice shout out with the shivan dragon ;)
Another excellent video, Sir Rudy. Keep the magic flowing.
Great video!
Rudy, thank you so much for invaluable advice. After watching several hours of Pink Visor videos I decided to go YOLO all in on Timmy Edition product. I'm confident this will be the best course of action for me and my family. My wife even said: _"Who are you?! How did you get in here?!? What are you doing in my house!?!?"_
Short phyrexian long black and enough with describing my dull life. Love the video. Long time viewer. 26 years young and learning that it's just as easy as it is complicated to find your way in life. Keep it up.
Pink visor, holy crap it's serious time!!! Love these videos, keep them going. Just wholesome good life advice :)
Rudy! Great stuff. Just wanted to add some clarification about those hypothetical HELOC funds being eligible for a down payment for another house. You should be able to use the HELOC money as a down payment on another piece of real estate as that would qualify as 'secured borrowed funds' in the eyes of the agencies. It's using an unsecured line of credit that will get you a fat denial from the bank
Hi Rudy, you should consider going on the Offical TekWar Fan Podcast. They’re into MTG and would love to talk with you about your investments! Kantbot is a super chill guy!
Another important thing about real estate is that location is extremely important (obviously). A lot of people that move to my area (immigrants especially) like to buy up a property for cheap, bulldoze it, and build some monster of a house and flip it. They tend to keep doing that until they get enough to buy a larger property to funnel money through, or at least that's one of the trends I've noticed. It's spiked property prices around here pretty bad though, to the point where no one is buying on these flippers anymore so they're ending up upside down on these houses. I actually am of the same mentality that you have where you should hold onto property once you own it, since like you said, it's another source of income once it's paid off. It's also not becoming any easier to buy a decent property here in my area in this state anymore so there's that too.
Short phyrexian... Just look at the analytics!!! :D Interesting stuff. The air of legitimacy the pink visor is lending you is UNREAL!
This is the most business minded MTG talk I've seen on UA-cam. May cool than a pack opening as it's raw and real
I'm personally thankful you talked about the importance of holding an asset and collecting passive income. Unfortunately, collectibles don't provide dividends or rent.
However, you have shown me over the years how collectibles rise in value, and I've observed that too. But ultimately, collectibles have to be sold to generate income. I guess collectibles that grow rapidly in value and then sold to buy property would be really good.
Rudy does this non-sexy tedious investment work because it pays very well in the long run. Ultimately, he wants that financial freedom you can only get through business success. He's an entrepreneur.
Rudy, please make more building wealth videos specifically thanks. Magic is cool but this intrigued me even more
Bro really out here chillin with carpet in a rental property
we dont have carpet and im happy about it. it's really more trouble than its worth and rugs are easier to manage
Lol, I thought the exact thing when he brought up carpet.
LVP ftw! Throw some area rugs down and you're good to go! If they trash em, roll em up, deduct from the security deposit, and buy new ones.
Wow Rudy, you’re real man. You just spoke to my soul
just when I was hoping for a financial video Rudy provides. great video love this stuff!
Thx for all the solid info and direction!
Interesting video Rudy would like to see you go over more types of investments.
Rudy, these longer videos are the best! Please continue making them. I truly appreciate the insight and information you give. As a young man of 25 I've been thinking about getting into the world of investing and you've shown me a bit of how all of this works. It actually seems feasible to me now. I've run into the negativity you talk about when I've brought up these things with friends/family members and you're right, screw their opinions, I'm going to max out my credit cards to buy original Zendikar boxes like you suggested in your forum post.
Thank you Rudy great video, as usual great lesson
Also soooooo much giggity today,what happen???? Good stuff
I love watching your explanation and conversation videos involving things like this
0:53 _"Rudy! I got a rental house."_
_"Before anything-rip out all sinks, toilets, showers, bathtubs and plumbing. Use the same hardened ceiling on the floors, walls, and ceiling, so the tenants can't screw anything. They must feel like they're in a prison's communal shower, and the mean sheriff from Rambo 1 is coming with the high-pressure hose to hose them."_
_"Sounds harsh."_
_"Nah, it's okay. As long as you don't draw _*_First Blood_*_ you should be fine."_
thanks for educating me rudy. better than any business class i ever took. hahah
Great information loved all 30+ minutes of it
you inspire me so much Rudy
This is my favorite video of yours! I am a property investor and have 2 investment properties, I also love mtg and invested 7k in this from Daniel at 2017 Vegas GP. Both are paying off well!
This video is info perfect for me.
Honestly if 20 year old me heard this kind of advice i can imagine making some different choices. I'm kind of jealous of all the information young people have access to these days.
@Dober Mann I treat college like 7-up. I never have, i never will.
@Dober Mann I bought my house at 22 and paid it off at 26. However the most expensive home for sale in my 60K pop town is 749K. The house is 9,107 square feet built in 1997 with 5 bedrooms 4 bathrooms.
275K will get you Bedrooms:5 Bathrooms:3 Total Square Feet: 4136 Year Built:1990.
However if your a normal person I would go with the Bedrooms:3 Bathrooms:2 Total Square Feet:1497 Year Built:1895 for 40K.
So even if you had just an average almost full time job at 18, by the time you where in your mid 20s you could be a good bit of a way to paying off that 40K. Even more so if all your other friends want to pay you like 200-300 a month to move out of their parents house and you have 2 spare bedrooms :p. It's amazing how far an extra 7,200 a year for 4 years will go to pay off 40K.
So the reality is that you will most likely have to move and get a job that doesn't pay as much, but the cost of living is so much lower that it is a net positive.
love these kinda vids rudy, need more like this
I know nothing about or ever got into magic, but Rudy is just the right kind of 'boring but entertaining' youtuber that I can leave playing in the background while I work. Cheers Rudy. :D
i need a pink visor so people will take me seriously
rudy, you need to sell pink visors with alpha investments logos on them, who wouldnt buy one?
Hey Rudy, I like the HELOC idea, but another option would be to just refinance the property if he wants to pull more of his equity, if you search real hard, I imagine you can get about 70% of your equity tax free to put towards more investments, as apposed to the cap with the HELOCs. Great advice though and I appreciate that you talk about more than just magic as an investment.
Thanks rudy this was very educational
Anyone have the link to the other real estate video where he goes into detail about how he chooses to furnish his rental properties?
Seriously I could watch these whiteboard videos all day.
Also, can you make a playlist of these on youtube? makes it easier to find
1000% agree you want to make moves in this world then set goals and don't abandon them.
Hmm, one of my only bigger questions would be around renters. I have a bunch of family who have bought lots of real estate and a few houses got kind of destroyed, people had to get evicted, shit happened; I guess this is the ideal renters who don’t cause trouble! Still, if it would go this smoothly then sweet! Great passive income!
Radical hairy armed giggity lord rudy, greatly appreciate videos not just for the excellent knowledge but once again your videos bring a good positive position in my eyes thanks for the damn good video and keep em comin!!
i watched it . great video. thank you ruby for sharing the realities of your reality. life really is long and slow
To rudys patrion don't do storage units. They have been overbuilt. You should sell that house after putting in the money to fix it up. Take that 300k and buy some rentals in indianapolis.
For 80k in Indianapolis you can get houses that rent for 1000 and after expenses you cash flow 600. If you sell for 300 after closing and mortgage you would have about 175k so you could buy 2 of them. If you buy just west of downtown but close to the river but south of Michigan St that area might go up 50% in price the next 5 years.
Love your videos... Your gulping is killing me
Love these non-magic videos and the whiteboard style
Rudy's a natural at this!
We need another one of these to update each market in 2022...
i needed this video, ive been going back and forth on investing. my wifes grandfather is very wealthy and has been advising me... dead on, except im not going into magic just yet.
I just invested an hour into peeling lemons and garlic gloves; grinding them up and then simmering that hizzle for an 7 minutes; investing in Health is what is up.
Short phyrexian # large black snake ... come on man of course I'm watching. This has been my favorite discussion topic lately as I move into the next stage of life haha
Great video, watched it all.... =]
Thanks for the vid. I have always been to nervous to do a h lock on any of my properties. I have been getting back into magic lately. Mostly to play but the investor in me don't want to open those packs. 😋
My wife and I are buying our first home right now. Going to the home inspection today. Very excited. Many years of us living like depression people to afford it. So worth it!
Video on his old reddit is the best :D
Hey Rudy or everyone else, is there a book or something that talk about that "merge" concept ? sounds really interesting
I know you're mostly magic, which I enjoy, but I hope you do more real estate/investing videos. I'm looking to buy a second house next year and rent my current one, so any advice you want to throw out there, I'd be glad to watch!
Hopefully that Shivan Dragon never gets loose because that firebreathing ability would do a number on any house. I don't think that kind of damage is covered by insurance.
I’m not typing all that stuff Rudy. But I did watch to the end.
One work around for using your HELO money for down payment on the next house is to withdraw what you need and put into your checking or savings 3 months from the time you plan on submitting bank statements. Lenders and Banks will only force you to show verification of deposit 60 days out from the time you hand them your earnest deposit check. This is not illegal and was the advice given to me by my lender.
I love that Shivan Dragon, my favorite MTG art of all time! Big thx Miss Benson! Where she at tho?
I mean, most of this is just straight up really solid life advice. Even those that don't want to get rich need to know the value of a solid financial foundation. You gotta have that sort of foundation to get to a place where you don't have to think too much about or be stressed out by finances.
what happened to the video of you touring one of your rental property purchases? I cant seem to find it
Ok so to summarize:
1) pay off your house
2) take out a loan against your paid for house
3) use loan as 20% down payment (and borrow 80%) to buy 1 to 3 more houses
4) pay interest on 2 or 4 houses each month because none of them are paid for
5) wait patiently for the wealth building to begin
6) buy a copy of the book Total Money Makeover and spend years cleaning up your mess
Though I find your comment funny and probably exactly what would happen, he did give the caveat that you have to be extremely careful with it.
Yes he did. He has also said in different videos to make sure your household is in order before you invest in anything really risky. I still don't understand how he calculates +$1,000 cash flow on rental house #1 in a scenario where he owes $100K on the HELOC. Is he not paying down the HELOC balance?!
@@clarkjansen2048 ,
To me it would make better sense to sell the house for 300k at MV(market value), and then buy the two 150k houses and rent them out (you owe nothing to a bank). Not much of a get rich scheme, but it would pay your bills. Assuming you rent both houses out at $750 a piece or more and break Rudy's rule of not selling your property. Also following Rudy's logic is that houses are only going to continue increasing in value over time. Having more houses would possibly??? be more profitable in the long term???
If you want to be daring take the 300k you sold the house for and invest it into a lot of houses only paying 20% down. 20% on a 300k house is 60k, so you can buy 5 houses roughly equal to the first house and no breaking the laws. It only requires you to break Rudy's weird rule of not selling property and clinging to it like it's a love pillow. I'm only guessing this will work??? There's probably laws against taking out numerous mortgages??? I have no idea??? If this works:
5 houses worth 300k at rent around $1,500 a month
$5,000 a month total on mortgages
$2,500 a month leftover
I wouldn't do any of this, but I'm a poor person not in any debt and also a bottom feeder as Rudy has called us peasants who turn the clogs to Rudy's credit card schemes...
@@clarkjansen2048 I believe it was take off $500 for taxes and repairs and such and then pocket the $1000. I would use that $1000 toward the mortgage of another rental property I think. Say it's $800. then you are only netting $200 from the original but then you can keep all of the second property money especially if it is a multi unit.
@capn D: I can get behind a plan where you stay debt free. Own two paid for rentals and rent yourself. I just don't see the appeal of giving your money away to banks as you pay interest on loans. The fastest way to wealth is to not give your money away and be debt free.
As a real estate agent I enjoyed this video....wait I enjoy all your videos ROFL
LOVE YOU!!!!!! NO HOMO! ANOTHER GREAT VID RUDY!
Not a MTG fan/player, instead i play Yu-Gi-Oh!, but i love your way, of explaining the investment side of TCG's.
"You can thumbs down, run off, and complain on the internet."
Sir, I've given a thumbs up, stuck around, and will give you a compliment.
love your realestate vids. I save them (All 2 of them).
Can't believe I just noticed Rudy is left handed
"For those of you who don't want to stick around for 30 minutes on a video the short answer is real estate is gonna win"
I actually ran off typed this comment while dying of laughter LOL. Now I will go like and subscribe.
What do you think about the commander format?
Great video.