How I Got a Car For Free!
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- Опубліковано 1 лис 2019
- How I got a car for free and you can do it too. Would you believe me if I told you there is a way to get your car for free? (OR A PROFIT?!). In this video, I outline the method to getting your car for free and how to make sure you're not losing money on a depreciating asset!!
I've nicknamed this strategy "car churning" (similar to credit card churning or getting your living costs down to 0 with rental offset but slightly different). It's all about the depreciation curve on the car (buy low and sell for a break-even while enjoying the car for nearly 2 years!!)
Thanks for watching and be sure to hit subscribe for more great content around personal finance, frugality and real estate in Canada!
#Free #Car #Flip
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Check out some of the great reading material on the subject of financial independence & Real Estate:
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Early Retirement Extreme: A Philosophical and Practical Guide to Financial Independence ( this is The Godfather of LEAN FIRE Book)
Your Money or Your Life: 9 Steps to Transforming Your Relationship with Money and Achieving Financial Independence: Fully Revised and Updated for 2018 (The first book written on FIRE)
The Wealthy Barber: The Common Sense Guide to Successful Financial Planning (it is an Interesting narrative personal finance story I enjoyed as a kid)
How to Invest in Real Estate: The Ultimate Beginner's Guide to Getting Started
The Book on Rental Property Investing: How to Create Wealth and Passive Income Through Smart Buy & Hold Real Estate Investing
Rich Dad's CASHFLOW Quadrant: Rich Dad's Guide to Financial Freedom
Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not!
The Simple Path to Wealth: Your road map to financial independence and a rich, free life
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How to Contact me:
My Facebook Group: / 23242. .
My Blog: www.25andfree.com/
Facebook: / mrosehart
Instagram: / mikerosehart
Twitter: / mikerosehart
SUBSCRIBE: ua-cam.com/channels/e56.html...
Bigger Pockets: www.biggerpockets.com/users/m...
Mike Rosehart Business & Coaching Inquires: 25andfree25@gmail.com.
If you want to speak with me on the phone or over skype for 1 on 1 coaching calls, I have decided to make myself available on a limited basis (so long as it doesn’t infringe on my Freedom too much - Family is important too!). Given the availability in my calendar is limited I have to charge $99/hour to ensure I don’t get swamped with requests that I cannot respond to for months. That said, most of what you need to know is out there on UA-cam and in my videos. I look forward to hearing you.
Mike has a true rags to riches success story that proves anyone can do what they set their minds to. He grew up in poverty bouncing from home to home and realized at age 17, when he moved away for college, that there was this early retirement movement - nicknamed the "FIRE Movement." It was there, in his college dorm-room that he set out to be the youngest retiree, and retire in only 7 short years (17 to 24 years of age). He achieved the goal of becoming a self-made millionaire, with a young family, at the age of 24 through hard work, extreme frugality, and astute Real-estate investing.
Today, Mike (26) works hard to share what worked for him, what didn’t, and to help educate others on all things Real-Estate and personal finance. He is now on a mission to help educate & assist others on all things Real Estate as they unlock financial independence for themselves! He recently co-founded a full service real estate investment management firm (RightWay Management Inc.) in London, Ontario that specializes in helping investors unlock much higher than normal market returns so that they can unlock early retirement through rental income cash-flow (averaging $1000+/month per property he partners with investors on). He is currently scaling up very quickly, acquiring over one property per week in London with investor partners. Mike has been involved in purchasing 50+ deals with investors & friends in the last 2 years. Subscribe to follow Mike on his journey to help others unlock financial independence!
Disclaimer: I make no representation or guarantee to any of the information or advice in this video. These are just my thoughts & opinions and should not be relied upon as legal or professional advice.
I'm a huge fan of these two bloggers, so check them out:
Pete Adney's Mr Money Mustache (www.mrmoneymustache.com )
& Early Retirement Extreme (Earlyretirementextreme.com)
#CarChurning
Car Churning is even better than credit card churning. I think I might brand it around that.
Thank you for the video. Good ideas here.
William Burkhead thanks 😊
Love it!
Radies Rajakulam - Investing & Real Estate 🙏
Really interesting thanks Mate :)
I was waiting for a video like this. I got a 2010 Honda Accord EX - L with 93k Miles. I got a good deal on it got it at trade in value which was $6300. For a Honda the mileage isn't that bad but it is almost 100k miles. Hopefully in a couple years I can still get a a good portion of my money back.Thanks for the info Mike.
Great video as always wish I saw this 3 years ago
TagerRoxx ❤️
hello there mike bro what's up with you hero how's it going buddy? very nice video clip keep up the good work it's always very nice to hear you talk you are the man.
Great strategy! best price range to buy a car is that $10-13k range where the car is 3-4 years old, that's where it's most flat. My only issue with this is the 13% HST in Ontario on the transfer. When will the Ontario government get rid of this DOUBLE Tax?
Buying Wholesale and selling retail is great! Sourcing the right car at the right time for the wholesale cost is the hardest part.
This works best with fully loaded and automatic cars
I broke even with a 98 accord, 02 Yukon and a 06 accord
Charlee Wayne love it ❤️
Hi Mike, how do you suggest “getting your deposit back”? I have tried to sell a vehicle privately before and it has always been a huge hassle. Love to know your thoughts.
Jonathan Pike you endure the “hassle” haha 🤣
I still like my 2016 Chevy Volt, all options for $15K. Will hold for quite a while. Gateway drug to a Tesla.
William Burkhead 🤣 I’m excited for the reasonable cost Tesla that holds its value
The best hacker in the world xD
There he is! Found Waldo. Lol jk keep up the good work.
Anthony Canelo 🤣 intentional branding. I’m your finance Waldo
Did you negotiate the purchase price at all ? Or pay asking still knowing it was a good buy
I always negotiate too.
Mom.... Dad... I need a car 😂
matt k ha ha - buy low and sell for a break even profit. Car depreciation curve :)
Breaking even on a car is totally doable, if you have knowledge on cars. problem is the sales tax. Here in bc is 12%.
Any website recommendations for checking the depreciation curve on cars?
cargurus.com click on "car values" at the top.
@@jwb4bb I love you.
Um I'm first?