If your want to stay in one place for over 7 yrs, and dont want the rules that come with rentals, and want to be able to grow your own food and have benifits of a house, then a cheap house could be a cheaper option in about 7 yrs or less compared to renting. Depends on the costs of house vs renting, houses r different prices, rents r different prices.
This is his pitch, don’t buy a home, rent instead and buy real estate, but don’t deal with the headache of buying and managing real estate, send me the money and I’ll do it for you. It’s a good pitch, just not the most honest.
@@Heartless-oi3sp move out of cali then, Or maybe u can find somewhere in a moral rural area where u could get some land and put a very small cheap house on it which is like a basic survival camper or house like under 10x10 foot big which u could try building partly yourself from used materials like from construction sites..., like opportunity village in Oregon.
The good old Stocks... Of course, you have to be well informed on the right ones or better still, get an F.A to handle it for you (that way, you save time and minimise risks). Made my first million few days back from the Nvidia rise without having to do much and unlike with Real Estates, no one wakes me up by 2am to complain about a leaking pipe.
You should start by looking out for those from known firms and good track records. You should also make sure the person is licensed. Personally, I use Kelly Matwick. She's good and you could also look her up.
lmao.. until they fall behind on their mortgage.. or taxes. or the insurance goes crazy.. or there is a flood.. or hurricane.. or the roof needs replacement.. or the neighborhood changes for the worse.. or hoa fees go crazy...
@@joellexaverie9703 there's a lot of money to be made by helping people be fiscally responsible.. but There is a LOT more money to be made by helping people spend outside their means. The vast majority spend way more than they have. Debt has never been higher in the history of America as it is now. Let's deal with reality. Not what we wish things would be.... if you bought your home over 5 years it may have been a good deal. If you bought post pandemicor are buying now it may be the worst investment you ever made.. Im in the market.. I almost bought last year. I bought nvda instead.. not buying a house was a great decision.
I can’t afford a home in LA where I live. Although I do own 2 houses in the Midwest that I rent out. I rent a modest apartment and drive a KIA. If I lived in a cheap market I’d buy. But I don’t and I don’t want to live in the Midwest.
Don’t fall dor this fellas. Owning your own home is your protection against inflation in a long term. Rent will always go up and money will always value less, but your mortgage stays the same ! Through the time you will pay less because money will worth less.
I really think owning a home is beneficial or not depending on your bank account your cash flow and your investment knowledge if you have enough money for a house but you dont have knowledge on how to transform that money into more money and you have no cash flow and you need a house then i guess thats when is a good idea investing in a home
It's not that simple. At current rates it costs way more for a mortgage than renting, not to mention other costs of homeownership like maintenance and property taxes. How am I beating inflation by spending an extra 2k a month and building very little equity?
And when everything else goes up so does your property taxes, maintenance fees to fix home, upgrades, etc. No one escapes inflation. We all pay one way or another.
I bought my house in 2012 cash, it was a foreclosure. Now it's worth 10× what I paid for it, and I don't pay a mortgage. Best investment I've ever made 🥰
I jumped here to say we bought a house in 2011 and it's now worth 220 percent more. So not quite sure how that's a bad investment. Also not living in a box was kind of nice...
And if you’re buying the house, you’re not paying any of the fees, the seller pays the fees. Also, you can’t simply add and multiply percentages the way that he did, the math is completely wrong.
Yeah, pretty sure if you have a $576k house you probably aren’t needing to spend $5.76k in “maintenance fees” every single year. There will be bad years where something major breaks like the A/C or you need to replace the roof, but it shouldn’t average out to 10% over 10 years unless its a cheaper, older home at that stage in its life where everything is needing to be replaced.
@@bopcentral7425 homes are like stocks they go up in value over time. Even if a crash occurs don’t sell because the value will recover. My father makes 60k a month in real estate. I have condos at 21 years old and they are slowly going up in value. My guy you are dumb as rocks if you think houses and condos are a bad investment.
@@bopcentral7425 Let’s say you brought a 50k condo in 2019. That same condo would be worth $200k now. Houses too. Let’s say you bought a house for 500k in 2003. That same house would be around $1 million now. My father brings in 60k a month due to real estate. Real estate, gold, and Bitcoin are the best investments.
@@JonathonLlamas1. Dave Ramsey is not a billionaire. 2. The title is a house as an investment. As an investment it’s a money pit. As a home when you aren’t worried about ever having to sell it or cash out then it’s a great idea.
You don't get the message and don't blame you. Here is what he saying. To begin buy a duplex live there and rent the other unit the will help you reduce your monthly payment and keep saying to buy the next because you saving buy not paying full mortgage because your tenant is helping you to pay, that's just in simple works but there's more to understand but you not ready
Buying a house is also a hedge against inflation. Rents go up. Fixed rate mortgages do not. When you pay rent you pay somebody else’s property taxes, maintenance, etc in perpetuity.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
@RobertDennison411 how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
+1 for ETFs. No expert knows where the market will go and when. Statistically, these experts guess 50/50 or something, even though they may have access to limited knowledge and deep expertise You also could split your stock purchases over a few years and some money keep in bonds
The problem is that people want to treat houses like investment. The home you are living in is “NOT AN INVESTMENT”. It’s a place of comfort for you and your family. Not everything is an investment, sometimes you also need comfort.
It's an investment cause instead of paying monthly to rent you pay mortgage for your own place,after let's say 20 years of paying that house is yours,if you pay rent for 20 years you still gonna pay rent the rest of your life
Shelter is a basic necessity. There's the catch. You have to live somewhere. So owning doesn't have to be an investment for it to make financial sense. If you pay $1700 for rent a month, there's is no chance for you to see that money again.
You didn't understand. Only when you RENT a house or flat for living you are able to finance an additional house for business that you rent out and make money from it or at least let the tenant pay the mortgage so later when it is paid off you have passive income. you can also repeat this with several houses. You can't pay mortgage for your own and for another one at the same time if you have a normal income and if you do pay off for yours 20 years long then you will ONLY EVER OWN ONE. And who says living in comfort is only possible with buying your own home? Living in comfort especially mentally is when you have passive income, not when you have debt payments.
I bought my house in 1986 for $185K and it’s worth $800K today. It’s been 38 years of not chasing rental markets, no dealing with unreasonable landlords, no rent hikes, no relocation and moving costs, and having a place to live for the rest of my life. Well worth it. Great investment. I also bought other real estate, rental houses, strip malls, land, etc. and even built some offices and apartments. Real estate is the way to go for the average Joe.
He's following Robert Kiyasoki's approach to owning a home. You don't "marry" it to take care of it, you "pimp" it to make $$$! Your home pays you nothing but may cost you other investments that can help you pay for the house!
@@giveme10feetthat's because they don't have a normal job. Theyre real estate "investors". The rest of us who have alternate income can benefit a lot from the tax deductions we get from getting a mortgage on primary residence. As well as the benefits of being in nicer areas with decent schools were our kids aren't corrupted and forced into gangs or whatever. If I was still single then yes sure I'd get the cheapest rent in the shittiest areas while renting out properties. Also, something you're not taking into account that people often forget when criticizing real estate is that leveraging the bank. Someone putting down 100k down payment is just losing 100k, not 500k worth of lost opportunities.
This math is so flawed. It is assuming you make the upfront investment of paying $500k cash for the house and also keep paying the Bank 7% interest. It’s one or the other, not both. If you buy the house outright, you’re not paying the bank anything. If you pay the bank 7% interest, you didn’t spend the $500k up front.
A house in America is such a luxury, they will charge half your income to rent, so don't even think about buying a house just buy a tent or RV and save some moneh
Yep pay 12% for broker fees. Like what brokerage even charges that much? I’m a Realtor and we charge 6% ~3% for Listing Brokerage and ~3% for Buyer Brokerage( except now we don’t with the whole commission decoupling settlement) so it’s only like 3% now.
Oh yeah, don't INVEST in an asset that is in your name, building YOUR equity, personalized to YOUR liking. Live under the thumb of a landlord and build their equity 🙄
Hes saying as an investment in increasing your wealth not an investment in your comfort and relief. Im going your route too because I dont want to worry about getting laid off and owning properties is dangerous considering the CDC can illegally decide to cut off rent to homes i manage when it’s convenient
Yeah you got lucky. You found an affordable one and you had the money at the right time. For the vast majority of us that’s a luxury we can’t even dream of. Owning a house for the majority of people is a horrible investment.
@@cryMoreLoL woah buddy I am not defending the guy he’s made bucks of the ignorance of others admittedly, However as a person who’s fortunate enough to own and manage a portfolio of properties I can assure you if you are able to afford 2/3 properties with a rent/repayment profit with the end goal of owning or stacking away money that someone else is paying then yes it’s sound advice I’m not here to flex or brag because it’s a generational hand me down and as the builder of the family I inherited the property while other family inherited the wealth
@@cryMoreLoL you’re way to emotional to hold down a intellectual conversation why are you so full of emotions? Or do you assume because you can see a blatant con artist you must be so powerfully intelligent that everything they say and you disagree with must be fiction? I assure you sir facts don’t care about your feelings
@@frankbishop5594 the clown isn’t targeting people like us, he’s targeting people who don’t know anything about investing. Nothing his says is of value to someone who already knows how to invest in real estate for 2 reasons. 1 - you should already know this information 2 - it’s bad information to sucker people into his product. You obviously wouldn’t consider Cardone Capital. Why not? Because you know it’s horse 💩 and you don’t need his help (as you have stated, you already inherited some success.)
@@uglypotata6110 “broke guy” So basically you..? The OP of the comment isn’t wrong, you boot licking kids will praise these types of people thinking you’re going to be successful like them when in reality you’re just falling into their trap, they’ve made all of you look like sheep so effortlessly it’s hilarious. - an actual business owner that owns multiple homes
This is how I think it’s done. You rent a cheap place to live, then you buy a house, give it for rent, and with the tenants money you’re getting, slowly you pay of the mortgage.
that's the whole point. Don't smoke your own product, it's for your consumers.. you can eat after they eat.. let the consumers have the best piece of rib eye cut with lobster and shrimp while you eat ground beef burgers and cow tongue/tripe tacos..
Yeah 5% is the average where I live in Cali it’s based off where you live, if you’re in Texas or the south which I’m guessing is where he is because of the high property tax than the fees are probably over 10%
I’m South African. I made calculation for my mum that showed that had she used her deposit to buy stock in 9 companies that IPO’d the year I was born in the Johannesburg Stock Exchange and used her mortgage as rent and used the property taxes money to buy more stock in those companies and reinvest all the dividends for the 23 years her net worth would be R45 000 000/$2 500 000(that’s a boatload of money in South Africa. After she worked 40 years she resigned instead of retiring so she’d get the entire some as one payment rather than instalments till she does. Her net worth is R4 million/$225 000 & the house is worth R2 500 000/$138 000. R6 000 000 compared to R45 000 000 is a massive difference.
Property taxes here are 1 % broker fees are about 6-7% average home price is 250k. If you buy a rental be aware property taxes are roughly 10-20% because it’s taxed as an investment property average sale price is 300k, still 6-7% broker fees. You pay income tax of 50% on what you make from rent. Maintenance fees are closer to 5%. Don’t forget court costs and lack of income when they don’t pay rent.
He is absolutely right, input monthly insurance, property tax , HOA, PMI, maintenance and interest rate into your monthly payment, your upside down on the home for 15 to 20+ years, owning property is not an investment like people think
yeah its not as cracked up as people make it out to be, but ideally Im sure that everyone would want their own home. And its more of a consideration for people with children.
@@songoku-jx3cb I closed on a home back in summer of 2015. Prior to closing I did the Planet Fitness homeless thing sleeping out my vehicle because I didn't want to renew my lease while trying to get a home. It was a fun experience and I saved a shit load of money for about 6 months during that chapter of my life.
😂😂😂😂😂 My house increased in price 300k over the last decade. 2013 market soft 2022-23 exploded. I took one hundred grand out of equity and built a pool and outdoor kitchen. My mortgage is still less the most rents in the area and my house has a guest house that I rent to pay 75% of the new loan. Hey Grant! SMD! 😅
Only thing he trying to articulate is stop trading time for money, rather than work a job to pay my mortgage! I’d rather just drive by and pickup my rent, and let someone else work to pay it for me, while I’m on a Beach 🏝️ in Maui
@@cbsvideo70 The rental house is not free, you still have to pay all the expenses out of your rent just like you have if you lived in it. You get to keep what's left as profit. That's not covering your rent on the beach
Buying a mortgage isnt an investment. Unfortunately, 90% of people dont have 500k cash to buy outright. Also, hes not measuring the utlity of having shelter. Housing as a need is absolutely a great investment. Issue is, people think gains are automatic and theres no risk involved. Buy a home because you need it, not because you're hoping to get mega rich off of it.
@@FoxyGrandpa75he's so wrong a mortgage makes your payment fixed while rents rise. Also if you rent for 1k and my mortgage is 1k after 30 years that 360k. I'll get atleast most of that back you get none back and I assumed your rent didn't change in 30 years good luck with that happening
@@alexgrinage this just goes to show you have no fucking clue what he’s talking about in the slightest. He’s not talking long term. he’s talking about good debt and ROI. You’re buying a liability while he’s buying an asset. Seriously it’s not even that complicated
Parent bought a house right before the recession ended, did some work over the 10 years but never cared to check the estimated value of it until recently and man was it a good investment
Only thing is you have to sell it to realize the gain then have to find another place to live. My home went up quite a bit, but in reality everything else is just inflated...be a wash when you move. Good timing though on your parents getting a home before all the craziness.
@Katydid Heck ya, I like to hear that. Good for you. Nice to be able to get "free". I live in Texas... waiting for my kids to get through school. I'll be looking to move where property taxes don't suck the life out of me.
Good timing, but the issue comes when house "value" goes up, and you're paying higher taxes each year, regardless of income. And to make a gain relative to new prices, you have to move away from where you've established yourself (somewhere people aren't willing to pay as much to live there).
I've been involved with crypto since 2016 and I'm actually glad I did back then as it was a water flow moment for me financially, the smartest move l've ever made in my life
Buy a house and your mortgage will be the same for 30 years except for taxes and insurance adjustments. Rent now and they can jack your payment up to whatever they want and call it operating costs or inflation.
In other words, your house is a consumption item if your carry/expenses/transaction costs are greater than the appreciation. Also have to factor in inflation if you're going to measure things in terms of buying power.
The market in Nashville is crazy. We bout our house for 900k and maybe put 100k into it. We decide to move after 7 years and sold it for 1.7 mil after only being up for a week. Also no inspection and all cash.
That makes sense, it went over a lot of people heads. "Buy the income asset first to pay for the house", trust you'll qualify for a better lifestyle that way.
What he didn't mention is that if it's your first house you can not rent it out for two years if you have a mortgage. You can rent out rooms but It still has to be your primary residence for at least two years prior to renting as a whole house.
Bro, who is paying 12% on a broker fee to buy a house? I’ve been through the homebuying process as a buyer, and that has literally never came up nothing outside of normal, closing costs, and down payment.
He mostly means as an “investment”. Buy a house if you want a house, for sure, but not as a money producing asset like a true “investment”. Just semantics, but it does make sense.
I own 12 trailer homes. Live with my aunt right now. Collecting rent income from my trailer home properties. 5 more years till I net my first million. Won’t be buying a house until I have at least a mil and a half liquid. So I still got lots of miles to go.
Ppl clown Grant but they believe it when Stephen Graham said the same thing. Buying a house is not a universally, financially wise decision for a lot of people
Tell that to the house I purchased for $28k and sold 5 years later for $260k… Roofing repairs, property extension/landscaping, flooring, and a new bathroom costed $7,000. I paid $300 a year in taxes.. I didn’t have a mortgage, I owned the home. Of-course there’s other small fees, but I can assure you it’s a great investment.
@@studentpilotlookinahh this is currently low inventory nationwide. People aren’t buying houses due to the mortgage, fed rate, and recession. Best thing to do is wait it out by renting, then buy once the crash occurs.
Totally agree. Why pay $2k to $3k per year in property taxes for a house that you own and can build equity when you can pay $2k per month in rent for an apartment that will gain you nothing in investment
"Worst Investment" is a pretty strong claim. Dude is just talking his book. Real estate has steadily gone up since 20211, so he could've bought a house and cashed out through a HELOC or cash-out refi and bought rentals while still owning a house.
@@FoxyGrandpa75ederal law caps the brokers fee at 3%. And 10% maintenance is insane your telling me on a 200k home your doing 20k in maintenance a year. Broker and agent fee could 6% but that's rare usually 3-4.5% plus you could make the seller pay
This information really depends on your location. Do not be fooled. We live in a capitalist society, your landlard expect to make a profit, just like the banks do. Just like Grant.
Why does nobody get what he is saying, he is talking about houses not be a good investment if you just let it sit there and that you should instead rent/airbnb it out to people. Houses are good if you actually use them to live or rent/airbnb them out to people and not if you just let it sit there with no one in it and wait for the value to go up
I get it but then you'll need to rent too and that's not smart, rents have been rising rapidly you'll also be owing a landlord who gets rich so he doesn't make any sense.
@@wavesbnice1 it makes sense whether you own one or 10. Lodging is a sunk cost and usually the highest item on anyone’s budget. You’re better off paying that towards something you will eventually own as opposed to not owning. You may realize this when you retire and still have a house expense when you could’ve eliminated that and just pay the property tax
@@mr.brooks9802 he is saying something dofferent that i have not fully grasped. He still says to buy real estate but to rent it. Maybe the difference is jn taxes and fees?
I and my wife own single home family rentals. we have $200,000 left on mortgages. We are now the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds. How does this work out?
Sell and invest option is viable, but crucial to consult a trustworthy cfp for income projections aligned with your goals. monicamarystrigle, a remoteadvisr, significantly grew my protfolio by 227percent by me modelling trades and patterns on charting.
Over 10 years you are paying 20% in taxes based on his calculation according to mine it is probably around 25 considering assessment of property increases over time. But it is still worth owing than renting. House will appreciate over 50% during that duration so technically you are paying for everything but you will recover almost all of your expenses once it is sold. Didn’t make any or lose. Lived for free for 10 years. That’s how people should calculate. Renting 100 💯 money burning machine.
Ban mandatory school. Instead of spending $180,000 for a kids education for them to graduate and not kno how to work a cash register or flip a burger, that money could be spent on buying very cheap houses for the poor.
My mom spends $1450 rent outta $1800 social security social security is a JOKE work 50 years and get $2500. What the fuck can you do with $2500 mean while bozos makes $3700 a secomd
I bought my 1st duplex home in 2006 for 120k. 15 years later I sold it and walked away with 150k liquid cash and was able to purchase another property without paying property gain taxes. Buy an investment property people! Do your own due diligence….there are real scammers out here telling folks not to buy. Even in this crazy world of overpriced homes. Find a way to buy. You can leverage tax lien, foreclosures, etc.
We have a paid off home. Now we are buying a little beach cottage for a whole boatload of money. It's in a cute little village on an island. Yeah, we're old, but not dead yet.
This guy watched the Warren Buffet video. He says the same thing. According to Warren Buffet, new houses are marked up 100% by the General Contractor. His example stated that a $200,000 new house has $50,000 in materials & $50,000 in labor & fees like a water tap. The rest is Mark up by the General Contractor. Then unless you can pay cash, you obtain a mortgage. Usually, 30 years. Compound Interest over that 30 years will triple the eventual cost to you. Now you paid $600,000 for a house that has $100,000 in materials & labor in it. Add to that how many things can go wrong over 30 years!
He forgets the part where tenants skip payments, squat, or destroy the property. There's more to renting than just having someone move in. One bad tenant can destroy years of work.
You could say that about any experience that you spend money on. Renting is simply the act of periodically paying for the experience of a place to live. ' "Going out to dinner" is like throwing money away. You will never see it again. ' Do you see how ridiculous that sounds?
But even when you own a house you will always pay maintenance, property taxes, and home owners insurance on it. Because of the property taxes, you never really completely own your home.
He's on the right track... you really don't make much on a house over 10 years. But you do make a little bit. And he conveniently left out that 10 years of rent you didn't have to pay because you owned your own home. That's the biggest income you walk away from with owning your own home - the free rent.
@@johnyang1420 typically means they are tryna get you to look over something in my opinion. People who talk fast don’t want you thinking hard about what they say
Ok bought for $165k. Remodeled added on for $150k. We are in the $550-600k range and owe under $100k at $1200 month. 2.75% When we rented for 14 years for $1200-1500/mo we have nothing to show for it.
For most people owning a home is a smart decision, especially if you have a family. Rent is more than most mortgages so I don’t see how anyone can justify renting especially when you plan on living somewhere long term and have a family.
Unless you abuse your house, you do not need 20 000 € on a 200 000 € property during 10 years, and at least in Europe (except UK and France) you do not pay 1 % per year in property taxes (in many EU countries you pay less than half of that). I doubt that it is like that even in the USA, at least in all 50 states. Like other comments said, this guy wants everyone to not buy houses so that they rent his. What a piece of art...
Rents are increasing very rapidly and monthly rent is at its peak and growing more in big cities , where a house can give you are good secured vibes for life
Property taxes are around 1800yearly in my area. That's chump change. People pay that on a monthly basis for rent. Now don't you feel like a cardon fool
@@redwallz4624 // Charge it to the game. But yeah, someone else had mentioned that basically no one actually owns shit anyhow. If you stop paying property taxes, watch and see what happens. I said something similar: Stop paying that mortgage and you'll soon see you don't actually own shit. The bank does. Between banks and the govt you gotta beat them at their own game and get elected to their board, buy stocks or municipal bonds. Gotta play chess (not checkers) with these people.
Yeah don’t buy a house. Rent one of his apartments.
If your want to stay in one place for over 7 yrs, and dont want the rules that come with rentals, and want to be able to grow your own food and have benifits of a house, then a cheap house could be a cheaper option in about 7 yrs or less compared to renting. Depends on the costs of house vs renting, houses r different prices, rents r different prices.
This is his pitch, don’t buy a home, rent instead and buy real estate, but don’t deal with the headache of buying and managing real estate, send me the money and I’ll do it for you. It’s a good pitch, just not the most honest.
😂
@@bvegannow1936 Cheap house? Not in Cali
@@Heartless-oi3sp move out of cali then, Or maybe u can find somewhere in a moral rural area where u could get some land and put a very small cheap house on it which is like a basic survival camper or house like under 10x10 foot big which u could try building partly yourself from used materials like from construction sites..., like opportunity village in Oregon.
The ones telling you not to buy a house, own the biggest ones.
He's a millionaire you're not. He's telling you advice that applies to brokies. Do as he says not as he does cause your bag is significantly smaller
@sabus1265 how you know smkedatkush not a millionaire?
He’s not saying never buy a house he’s saying if you do buy a house have it make you some money until you can actually afford everything else
@@sabus1265tell us bud.. how much you spend on his scam courses? Just let it out we won’t judge you.
That’s literally what he said .. don’t buy a house , rent an apartment . Then own the property that other people live in
That is very confusing! If Real Estate is a bad investment, what then is a good one?
The good old Stocks... Of course, you have to be well informed on the right ones or better still, get an F.A to handle it for you (that way, you save time and minimise risks). Made my first million few days back from the Nvidia rise without having to do much and unlike with Real Estates, no one wakes me up by 2am to complain about a leaking pipe.
nothing is good these days
@kathleenstoner.n7499 Thanks. I think I need one. What are the steps for getting a decent advisor
You should start by looking out for those from known firms and good track records. You should also make sure the person is licensed. Personally, I use Kelly Matwick. She's good and you could also look her up.
Wow!!! Its really a small world. Met this lady at our country club weeks ago
People don't buy a house as an investment. They buy a house for comfort and stability, build memories, and stop being at the mercy of landlords.
lmao.. until they fall behind on their mortgage.. or taxes. or the insurance goes crazy.. or there is a flood.. or hurricane.. or the roof needs replacement.. or the neighborhood changes for the worse.. or hoa fees go crazy...
and oh yeah... until the market crashes again and you're undwrater in equity... thats coming around... again. ahh.. the memories
That's why people need to buy within their means! If we are all renters, rent will be crazy and no one will be able to afford rent either.
@@joellexaverie9703 there's a lot of money to be made by helping people be fiscally responsible.. but There is a LOT more money to be made by helping people spend outside their means. The vast majority spend way more than they have. Debt has never been higher in the history of America as it is now. Let's deal with reality. Not what we wish things would be.... if you bought your home over 5 years it may have been a good deal. If you bought post pandemicor are buying now it may be the worst investment you ever made.. Im in the market.. I almost bought last year. I bought nvda instead.. not buying a house was a great decision.
@@joellexaverie9703 what percentage of Americans live withing their means. 🤔
Lmao. When the rich are so rich they forget how real life works
It kinda works differently for different people, don’t ya think?
Yeah he popped out rich ryt?? Dumb brokie... Hez telling u the strategy.. rather than finding excuse... learn..
Wtf is “real life” you act like we’re all the same
If you’re capable of buying a house you’re capable of the investment strategy he’s talking about
I can’t afford a home in LA where I live. Although I do own 2 houses in the Midwest that I rent out. I rent a modest apartment and drive a KIA. If I lived in a cheap market I’d buy. But I don’t and I don’t want to live in the Midwest.
This guy is so smart. I sold my house and am living on the skid row.
Lmaooo
Wouldn't that make him right? Sounds like u didn't make shit off the house
you aint watch the whole video huh
😆🤣.
You should go to Pueblo Colorado and live in an RV. Undercover billionaire style.
Don’t fall dor this fellas. Owning your own home is your protection against inflation in a long term. Rent will always go up and money will always value less, but your mortgage stays the same ! Through the time you will pay less because money will worth less.
I really think owning a home is beneficial or not depending on your bank account your cash flow and your investment knowledge if you have enough money for a house but you dont have knowledge on how to transform that money into more money and you have no cash flow and you need a house then i guess thats when is a good idea investing in a home
It's not that simple. At current rates it costs way more for a mortgage than renting, not to mention other costs of homeownership like maintenance and property taxes. How am I beating inflation by spending an extra 2k a month and building very little equity?
@@nicolasgirard2808 I can’t speak for all cities, but where I live, it’s about the same thing
And when everything else goes up so does your property taxes, maintenance fees to fix home, upgrades, etc. No one escapes inflation. We all pay one way or another.
Good point
I bought my house in 2012 cash, it was a foreclosure. Now it's worth 10× what I paid for it, and I don't pay a mortgage. Best investment I've ever made 🥰
he meant a mortgage :) buying with cash is so much better for sure
Nice!!
I jumped here to say we bought a house in 2011 and it's now worth 220 percent more. So not quite sure how that's a bad investment.
Also not living in a box was kind of nice...
If you don’t do the mortgage. That s easier
That’s an amazing deal, lucky guy
Remember folks, if Grant Cadone was such a real estate genius he wouldn't be trying to sell you a course for a $499.99.
What do u mean?
@@peterteba3891 he doesn't know what he means. He expects shit for free
This is a logical fallacy
Yeah, well his net worth is upwards of 600 million. What’s your net worth?
Hur dur rich people bad rich people dumb
I’m a broker and literally not one broker makes 12%, this guy had me for years until that comment
Not even the realtor makes 12% also how is it a poor investment when he owns almost a billion in real estate
And if you’re buying the house, you’re not paying any of the fees, the seller pays the fees.
Also, you can’t simply add and multiply percentages the way that he did, the math is completely wrong.
Anyone who takes cocaine Grant seriously is lol
Haha seriously we’re lucky to get 5 in LA
You don't make 6% going in and 6% going out?
He’s definitely wrong. He’s just trying to make us not buy homes so he can buy them all to rent to us. 😂
Yeah, pretty sure if you have a $576k house you probably aren’t needing to spend $5.76k in “maintenance fees” every single year. There will be bad years where something major breaks like the A/C or you need to replace the roof, but it shouldn’t average out to 10% over 10 years unless its a cheaper, older home at that stage in its life where everything is needing to be replaced.
Tell me how you think hes wrong? You paying a mortgage is not an investment.
@@bopcentral7425 homes are like stocks they go up in value over time. Even if a crash occurs don’t sell because the value will recover. My father makes 60k a month in real estate. I have condos at 21 years old and they are slowly going up in value. My guy you are dumb as rocks if you think houses and condos are a bad investment.
@@bopcentral7425 Let’s say you brought a 50k condo in 2019. That same condo would be worth $200k now. Houses too. Let’s say you bought a house for 500k in 2003. That same house would be around $1 million now. My father brings in 60k a month due to real estate. Real estate, gold, and Bitcoin are the best investments.
He literally said to buy a house but to not live in it to rent it out. did you not listen to the whole thing?
So let me get this straight, don’t buy a house, but buy a house to rent it out.
This guy is rich. But he says things that disagree with most billionaire like david ramsey
@@JonathonLlamas1. Dave Ramsey is not a billionaire.
2. The title is a house as an investment. As an investment it’s a money pit. As a home when you aren’t worried about ever having to sell it or cash out then it’s a great idea.
Yes but a house to rent it out.
You don't get the message and don't blame you. Here is what he saying. To begin buy a duplex live there and rent the other unit the will help you reduce your monthly payment and keep saying to buy the next because you saving buy not paying full mortgage because your tenant is helping you to pay, that's just in simple works but there's more to understand but you not ready
Then go rent another house for yourself to pay rent on. And also pay the 10% upkeep on the one you bought but are not supposed to live in .
I love how Grant cardone can convince you that renting your house is a good idea. You'll lose 100% of that rent
He came to CERRITOS DODGE to teach his car selling class . It was pathetic in my opinion
I’m his principal only applies if
You’re owning a multitude of rentals. That’s the catch.
Remember rent is an asset if done correctly
You must have missed the end where he says buy a house
not if the extra fees (interest, maintenance, insurance, tax, HOA etc) is higher than your rent
Buying a house is also a hedge against inflation. Rents go up. Fixed rate mortgages do not. When you pay rent you pay somebody else’s property taxes, maintenance, etc in perpetuity.
your property tax also go up!
@@farhank8336and when you rent and the landlord’s taxes go up so does your rent
They do when your house is assess and property taxes go up or a new roof that's equal to a lot of rent
When the landlord’s taxes go up, so does the rent.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
@RobertDennison411 how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
You can't ever time the market historically so if you buy an etf tracking the S&P500 or something you should be fine.
+1 for ETFs. No expert knows where the market will go and when. Statistically, these experts guess 50/50 or something, even though they may have access to limited knowledge and deep expertise
You also could split your stock purchases over a few years and some money keep in bonds
Nr. 1, dont take advice from UA-cam comments. Hire a reputable financial advisor FFS.
@RobertDennison411😅😅😅😅😅😅
The problem is that people want to treat houses like investment. The home you are living in is “NOT AN INVESTMENT”. It’s a place of comfort for you and your family. Not everything is an investment, sometimes you also need comfort.
It's an investment cause instead of paying monthly to rent you pay mortgage for your own place,after let's say 20 years of paying that house is yours,if you pay rent for 20 years you still gonna pay rent the rest of your life
It's an investment of comfort for you and your family 🙏🏿
Shelter is a basic necessity. There's the catch. You have to live somewhere. So owning doesn't have to be an investment for it to make financial sense. If you pay $1700 for rent a month, there's is no chance for you to see that money again.
100% agree. Our home is our comfort for us and our family.
You didn't understand.
Only when you RENT a house or flat for living you are able to finance an additional house for business that you rent out and make money from it or at least let the tenant pay the mortgage so later when it is paid off you have passive income. you can also repeat this with several houses.
You can't pay mortgage for your own and for another one at the same time if you have a normal income and if you do pay off for yours 20 years long then you will ONLY EVER OWN ONE.
And who says living in comfort is only possible with buying your own home? Living in comfort especially mentally is when you have passive income, not when you have debt payments.
Living in your own house and no one can tell you what or what not to do =priceless
If the police came they could tell you what to do no?
@@SerV689 if they didn't have a warrant , no
Stop paying property tax. Not so much your home anymore. So do you really own your home?
@@mynamesjeff1814 everyone pays taxes
@@AtlasZero13 Not everyone.
Grant Cardone is the definition of "Scam Artist"
I bought my house in 1986 for $185K and it’s worth $800K today. It’s been 38 years of not chasing rental markets, no dealing with unreasonable landlords, no rent hikes, no relocation and moving costs, and having a place to live for the rest of my life. Well worth it. Great investment.
I also bought other real estate, rental houses, strip malls, land, etc. and even built some offices and apartments.
Real estate is the way to go for the average Joe.
Buying a house is not really an investment it’s just peace of mind that you’re unlikely to have to leave as long as you pay your property taxes.
Buying a house helped me become a millionaire…..
@@richardwallis9374 Congrats on getting halfway to a middle class retirement
I don’t think I have ever heard a more confident and convincing man be so wrong before
That math is pretty awful. I guarantee you he owns a bunch of rental properties and doesn't let people owning their own property.
He's following Robert Kiyasoki's approach to owning a home. You don't "marry" it to take care of it, you "pimp" it to make $$$! Your home pays you nothing but may cost you other investments that can help you pay for the house!
@@giveme10feetthat's because they don't have a normal job. Theyre real estate "investors".
The rest of us who have alternate income can benefit a lot from the tax deductions we get from getting a mortgage on primary residence.
As well as the benefits of being in nicer areas with decent schools were our kids aren't corrupted and forced into gangs or whatever.
If I was still single then yes sure I'd get the cheapest rent in the shittiest areas while renting out properties.
Also, something you're not taking into account that people often forget when criticizing real estate is that leveraging the bank. Someone putting down 100k down payment is just losing 100k, not 500k worth of lost opportunities.
😂
He's not wrong buddy. Do the math yourself: renting & investing over buying a house with a 20-year mortgage.
“You will own nothing and you will be happy”
This math is so flawed. It is assuming you make the upfront investment of paying $500k cash for the house and also keep paying the Bank 7% interest. It’s one or the other, not both. If you buy the house outright, you’re not paying the bank anything. If you pay the bank 7% interest, you didn’t spend the $500k up front.
A house in America is such a luxury, they will charge half your income to rent, so don't even think about buying a house just buy a tent or RV and save some moneh
Or work more, learn new skills so you can afford it.
@@Nolimitcrew225 i would advise buying a house which you after tax income can pay down fully in
Right but if u do it right it’s a tax write offf
@@antoinepowell649 Do It right????
@@frankiegunnz8066 open a LLC buy the house under your business then u get tax write off up 26 years my advice, get a multi family
“Don’t buy a house or multiple houses like I did because then there will be less for me to buy and rent out”
He’s saying don’t a house to live in how are you so dumb?
He literally says to go buy a house and rent it out.
Yep pay 12% for broker fees. Like what brokerage even charges that much? I’m a Realtor and we charge 6% ~3% for Listing Brokerage and ~3% for Buyer Brokerage( except now we don’t with the whole commission decoupling settlement) so it’s only like 3% now.
Oh yeah, don't INVEST in an asset that is in your name, building YOUR equity, personalized to YOUR liking. Live under the thumb of a landlord and build their equity 🙄
Lol buying my house was the best thing I’ve done in my young life
Hes saying as an investment in increasing your wealth not an investment in your comfort and relief. Im going your route too because I dont want to worry about getting laid off and owning properties is dangerous considering the CDC can illegally decide to cut off rent to homes i manage when it’s convenient
Yeah my dad brought a house for 200k now it’s worth 4M do not listen to Grant…. Timing is everything in the housing market
Facts
Facts
Yeah you got lucky. You found an affordable one and you had the money at the right time. For the vast majority of us that’s a luxury we can’t even dream of. Owning a house for the majority of people is a horrible investment.
Man, he’s really pushing his product. “Don’t buy a house, rent my property instead.”
You can take that part out and it’s actually sound intelligent investing
@@frankbishop5594 no it’s not. Grant Cardont is a con artist, you’re just one of his victims. I bet you think “side hustling” is smart too.
@@cryMoreLoL woah buddy I am not defending the guy he’s made bucks of the ignorance of others admittedly,
However as a person who’s fortunate enough to own and manage a portfolio of properties I can assure you if you are able to afford 2/3 properties with a rent/repayment profit with the end goal of owning or stacking away money that someone else is paying then yes it’s sound advice
I’m not here to flex or brag because it’s a generational hand me down and as the builder of the family I inherited the property while other family inherited the wealth
@@cryMoreLoL you’re way to emotional to hold down a intellectual conversation why are you so full of emotions?
Or do you assume because you can see a blatant con artist you must be so powerfully intelligent that everything they say and you disagree with must be fiction? I assure you sir facts don’t care about your feelings
@@frankbishop5594 the clown isn’t targeting people like us, he’s targeting people who don’t know anything about investing. Nothing his says is of value to someone who already knows how to invest in real estate for 2 reasons. 1 - you should already know this information 2 - it’s bad information to sucker people into his product. You obviously wouldn’t consider Cardone Capital. Why not? Because you know it’s horse 💩 and you don’t need his help (as you have stated, you already inherited some success.)
Oh yeah listen to the guy that rents apartment complexes for a living tell you not to buy a house😂
Oh look, i broke guy the telling rich guy don't know what he talking about🤡
@ugly potata Exactly his point, not everyone has 10-15 million dollars just laying around to buy apartment complexes like this guy 🤡
@@uglypotata6110most people are buying a home to avoid paying rent that increases every year. It's not that complicated
@@uglypotata6110 “broke guy” So basically you..? The OP of the comment isn’t wrong, you boot licking kids will praise these types of people thinking you’re going to be successful like them when in reality you’re just falling into their trap, they’ve made all of you look like sheep so effortlessly it’s hilarious.
- an actual business owner that owns multiple homes
@@SUPER_JAVI this guys was broke and what’s your excuse brokie
This is how I think it’s done. You rent a cheap place to live, then you buy a house, give it for rent, and with the tenants money you’re getting, slowly you pay of the mortgage.
He wants YOU to pay off his expenses 😂😂😂😂
that's the whole point. Don't smoke your own product, it's for your consumers.. you can eat after they eat.. let the consumers have the best piece of rib eye cut with lobster and shrimp while you eat ground beef burgers and cow tongue/tripe tacos..
He’s right, that’s why I live under the bridge.
lol
😂
smart lol
How is it??? Are things great??
😂😂😂😂 oh lawd
Bro said 12% for broker fees 😂
More like 6-8%
Yeah 5% is the average where I live in Cali it’s based off where you live, if you’re in Texas or the south which I’m guessing is where he is because of the high property tax than the fees are probably over 10%
@@aab434 then just buy directly 😂
What broker lol.
This guys math is terrible
I’m South African. I made calculation for my mum that showed that had she used her deposit to buy stock in 9 companies that IPO’d the year I was born in the Johannesburg Stock Exchange and used her mortgage as rent and used the property taxes money to buy more stock in those companies and reinvest all the dividends for the 23 years her net worth would be R45 000 000/$2 500 000(that’s a boatload of money in South Africa. After she worked 40 years she resigned instead of retiring so she’d get the entire some as one payment rather than instalments till she does. Her net worth is R4 million/$225 000 & the house is worth R2 500 000/$138 000. R6 000 000 compared to R45 000 000 is a massive difference.
My 3 bed 2 bath house is locked in at 1300 a month. Only owned it 5 years. In this rental economy. Thank goodness i bought it.
Property taxes here are 1 % broker fees are about 6-7% average home price is 250k. If you buy a rental be aware property taxes are roughly 10-20% because it’s taxed as an investment property average sale price is 300k, still 6-7% broker fees. You pay income tax of 50% on what you make from rent. Maintenance fees are closer to 5%. Don’t forget court costs and lack of income when they don’t pay rent.
He is absolutely right, input monthly insurance, property tax , HOA, PMI, maintenance and interest rate into your monthly payment, your upside down on the home for 15 to 20+ years, owning property is not an investment like people think
yeah its not as cracked up as people make it out to be, but ideally Im sure that everyone would want their own home. And its more of a consideration for people with children.
you’re right grant, we should all live in cardboard huts we built ourselves and bathe in the creek…
Then invest the money from that to buy appartments, why live in a house when you can make 1000$ a month renting it
You belong to the streets
No you get a 10.00 planet fitness membership and shower there and have a place to charge your phone. Great 10.00 monthly expense
@@tsaunders4684 where do you sleep
@@songoku-jx3cb I closed on a home back in summer of 2015. Prior to closing I did the Planet Fitness homeless thing sleeping out my vehicle because I didn't want to renew my lease while trying to get a home. It was a fun experience and I saved a shit load of money for about 6 months during that chapter of my life.
Is he a homeowner? It's like a PhD telling people not to go to college.
The thing is he didnt get his own home until tens of properties in. So your point is invalid
He literally says in the video that once you have money coming in elsewhere go buy whatever you want
But he has millions? Stop coping and listen
You guys are funny to me. Stop being fanboys.
@@vicshephard9231 better than being a bitter hater
Renting isn't making you money... you're paying someone else's house! Why make someone else rich when you can make yourself rich...
Its true buying a house is a liability
“Don’t buy a house, buy real state that other people live in (meaning a house)”
He saying don't buy a house and jus live in it. Rent where u live and buy for others to rent to you
@@thewaluigibrothers1482 paying rent, if going to be almost the same as what they'll be renting it out for, no making any money doing that
@Pat Brody true. If u got 1 then u breaking even almost that's why he always says get a apartment. Multiple doors paying you
Exactly
😂😂😂😂😂 My house increased in price 300k over the last decade. 2013 market soft 2022-23 exploded. I took one hundred grand out of equity and built a pool and outdoor kitchen. My mortgage is still less the most rents in the area and my house has a guest house that I rent to pay 75% of the new loan. Hey Grant! SMD! 😅
Only thing he trying to articulate is stop trading time for money, rather than work a job to pay my mortgage! I’d rather just drive by and pickup my rent, and let someone else work to pay it for me, while I’m on a Beach 🏝️ in Maui
@@cbsvideo70 The rental house is not free, you still have to pay all the expenses out of your rent just like you have if you lived in it. You get to keep what's left as profit.
That's not covering your rent on the beach
Damn! Big baller
That guy thinks everyone just has 100k sitting in their bank account, I wanna know what percent of people have 100k save?
Must be nice to be a boomer
Buying a mortgage isnt an investment. Unfortunately, 90% of people dont have 500k cash to buy outright. Also, hes not measuring the utlity of having shelter.
Housing as a need is absolutely a great investment. Issue is, people think gains are automatic and theres no risk involved. Buy a home because you need it, not because you're hoping to get mega rich off of it.
Buying Grant Cardone's Scam Fraud Course is the worst investment you can make.
He is the same guy who just buys a house in Malibu for 40 or 50 millions and gives the advice to others to not buy a house 😂😂😂😂
You clearly didn’t listen to a word he said
@@FoxyGrandpa75he's so wrong a mortgage makes your payment fixed while rents rise.
Also if you rent for 1k and my mortgage is 1k after 30 years that 360k. I'll get atleast most of that back you get none back and I assumed your rent didn't change in 30 years good luck with that happening
@@alexgrinage this just goes to show you have no fucking clue what he’s talking about in the slightest. He’s not talking long term. he’s talking about good debt and ROI. You’re buying a liability while he’s buying an asset. Seriously it’s not even that complicated
Parent bought a house right before the recession ended, did some work over the 10 years but never cared to check the estimated value of it until recently and man was it a good investment
Only thing is you have to sell it to realize the gain then have to find another place to live.
My home went up quite a bit, but in reality everything else is just inflated...be a wash when you move. Good timing though on your parents getting a home before all the craziness.
@@jbb66 I sold house 8/21 in AZ then moved to a condo in a state with lower cost of living.
@Katydid Heck ya, I like to hear that. Good for you. Nice to be able to get "free".
I live in Texas... waiting for my kids to get through school. I'll be looking to move where property taxes don't suck the life out of me.
Nominally but with inflation not that great
Good timing, but the issue comes when house "value" goes up, and you're paying higher taxes each year, regardless of income. And to make a gain relative to new prices, you have to move away from where you've established yourself (somewhere people aren't willing to pay as much to live there).
This guy will probably tell me don’t go to college for a job but just work as a cashier at a fast food chain.
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2x10 is 20
Thank you Sir I never would’ve have figured that out
Yes alot of people think grant cardone is a scammer and a liar. But i pulled my calculator out and 2 x 10 is in fact 20.
Grant has my trust! 🙌
Thw way he said it though. Such conviction. This clearly isn't his first rodeo.
Buy a house and your mortgage will be the same for 30 years except for taxes and insurance adjustments. Rent now and they can jack your payment up to whatever they want and call it operating costs or inflation.
This
You still broke tho
Bingo. Also if you have a low interest rate then you are big chillin
@@goaldineyelife6291 how are you broke when a house payment is stable for years, and is often cheaper than an apartment?
You still break even. But you don’t buy a house for yourself you buy a home for your children they will reap the benefits
In other words, your house is a consumption item if your carry/expenses/transaction costs are greater than the appreciation. Also have to factor in inflation if you're going to measure things in terms of buying power.
The market in Nashville is crazy. We bout our house for 900k and maybe put 100k into it. We decide to move after 7 years and sold it for 1.7 mil after only being up for a week. Also no inspection and all cash.
Proof this nigga grant bugging tf out
Awesome. Where’d you move?
Moved to Atlanta in 2013. Parents bought the house for 210k. Ended up selling it for 600k in 2021. 6 bed 5 bath house
Insanity.
But how much did you spent on it in the mean time in maintaining it?
Never take advice from someone who just wants your money
Like politicians?
Yeah dont take advice from politicians thats pretty obvious @rickypv2978
That’s something a brokie would say
That makes sense, it went over a lot of people heads. "Buy the income asset first to pay for the house", trust you'll qualify for a better lifestyle that way.
It was a great investment for me .i bought in 2018 and held till 2023 and sold and netted six figures on the sale .
"Let's say you buy a $1,000,000 house."
No, let's not.
Like what 😂😂😂 that’s the worst example ever
Lmaoo 😂
You aren’t the target audience
Rental or own house I would be happy with right partner anywhere on the planet
😂😂😂
Him- “2 times 10 is 20”
Me- “hold up”
*pulls out calculator*
“Ok, checks out. Continue”
What he didn't mention is that if it's your first house you can not rent it out for two years if you have a mortgage. You can rent out rooms but It still has to be your primary residence for at least two years prior to renting as a whole house.
This is absolutely not enforced, unless possibly you default very quickly and they want to be vindictive.
My family built a house that we lived in for 5 years. Sold it made a big profit. Saying its not gonna happen is just wrong
😂
Bro, who is paying 12% on a broker fee to buy a house? I’ve been through the homebuying process as a buyer, and that has literally never came up nothing outside of normal, closing costs, and down payment.
Yeah this is one is horsheshit, a house is the safest invesment ever and the best way to create generational wealth.
He mostly means as an “investment”. Buy a house if you want a house, for sure, but not as a money producing asset like a true “investment”. Just semantics, but it does make sense.
Lmao thank y’all, i’m a broker so you saved me some time
4% when you buy 4% when you sell not 12% but close
Its grant cardone he always talks shit idk how to even spell his name i tell ya
I own 12 trailer homes. Live with my aunt right now. Collecting rent income from my trailer home properties. 5 more years till I net my first million. Won’t be buying a house until I have at least a mil and a half liquid. So I still got lots of miles to go.
Get more income dude I’m sure you can get to it sooner. Free up some space in your schedule to learn a new skill to get there hopefully years sooner!
Get a life
How did you learn about that?
Freeloaded be a man and get your own space
@@Idontknowhoiamanymore wtf are you talking about? Go back to mommy and eat your buggers
Ppl clown Grant but they believe it when Stephen Graham said the same thing. Buying a house is not a universally, financially wise decision for a lot of people
Tell that to the house I purchased for $28k and sold 5 years later for $260k… Roofing repairs, property extension/landscaping, flooring, and a new bathroom costed $7,000. I paid $300 a year in taxes.. I didn’t have a mortgage, I owned the home. Of-course there’s other small fees, but I can assure you it’s a great investment.
He must own lots of apartments. Renting will always be worse unless he means you should be homeless
I read somewhere he has about 12K apartments
He should’ve just said your first house should be a DUPLEX or Quad. Live in 1 and rent out the other 3.
Doesn’t it take like months to get tenant(s)
@@studentpilotlookinahh in this market, DAYS.
He doesn't cuz he wants you to rent and invest money in cardone capital
@@GMacII really? man I didn't know that. Can explain why that is? I genuinely want to know- is it because of falling prices of homes/rent?
@@studentpilotlookinahh this is currently low inventory nationwide. People aren’t buying houses due to the mortgage, fed rate, and recession. Best thing to do is wait it out by renting, then buy once the crash occurs.
Totally agree. Why pay $2k to $3k per year in property taxes for a house that you own and can build equity when you can pay $2k per month in rent for an apartment that will gain you nothing in investment
"Worst Investment" is a pretty strong claim. Dude is just talking his book. Real estate has steadily gone up since 20211, so he could've bought a house and cashed out through a HELOC or cash-out refi and bought rentals while still owning a house.
This worked until the government gave free rent because you could not evict .
Taking advice from Grant Cardone is the last thing I’d do, but it’s your money!
He has money and toys. This means he is credible and experienced.
@@STRAIGHTBOXMUSIC at taking a suckers money!
@@STRAIGHTBOXMUSIC yea he made all that money being a very honest and caring person definitely nothing shady
Bernie Madoff also “had” money and toys. Guess that means he’s credible and experienced too.
You’re always paying someone’s mortgage might as well be your own 😂
This is like Hersheys convincing me that fruits are bad for me.
I bought my house for 350k 4 years ago and just sold it for 620k and the broker fee was 1.5%
This man does not live in reality.
He actually does
Unless he is, and we are still in the rat race. I'd prefer to listen to advice of successful people because they are successful.
@@ethantrani-pj8vm fax
@@FoxyGrandpa75ederal law caps the brokers fee at 3%. And 10% maintenance is insane your telling me on a 200k home your doing 20k in maintenance a year.
Broker and agent fee could 6% but that's rare usually 3-4.5% plus you could make the seller pay
@@FoxyGrandpa75 no one uses fax machines anymore
You’re not paying 12% brokerage fees??? Standard is 6% and that can be negotiated.
This information really depends on your location. Do not be fooled. We live in a capitalist society, your landlard expect to make a profit, just like the banks do. Just like Grant.
Why does nobody get what he is saying, he is talking about houses not be a good investment if you just let it sit there and that you should instead rent/airbnb it out to people. Houses are good if you actually use them to live or rent/airbnb them out to people and not if you just let it sit there with no one in it and wait for the value to go up
Who tf just let's a house sit there and just waits for the value to go up?
I get it but then you'll need to rent too and that's not smart, rents have been rising rapidly you'll also be owing a landlord who gets rich so he doesn't make any sense.
It’s always better to own. That’s why the guy telling you to rent - owns multiple buildings/apartments 😂
He owns assets... a single family home is a liability bcuz money goes out... he named the expenses.... houses don't always appreciate...
@@wavesbnice1 it makes sense whether you own one or 10. Lodging is a sunk cost and usually the highest item on anyone’s budget. You’re better off paying that towards something you will eventually own as opposed to not owning. You may realize this when you retire and still have a house expense when you could’ve eliminated that and just pay the property tax
@@mr.brooks9802 he is saying something dofferent that i have not fully grasped. He still says to buy real estate but to rent it. Maybe the difference is jn taxes and fees?
I and my wife own single home family rentals. we have $200,000 left on mortgages. We are now the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds. How does this work out?
Real estate is a solid investment but demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.
Sell and invest option is viable, but crucial to consult a trustworthy cfp for income projections aligned with your goals. monicamarystrigle, a remoteadvisr, significantly grew my protfolio by 227percent by me modelling trades and patterns on charting.
monicamarystrigle, a remoteadvisr, significantly grew my protfolio by 227percent by me modelling trades and patterns on charting.
sell and invest option is okay, but important to consult with a trustworthy cfp for guidance. monica mary strigle is the remoteadvisor I use.
"Don't buy a house. Rent from me! If everyone buys a home in order to build wealth, I won't have any renters to pay me!"
Grants math is so funny. Property tax in his head goes from 2% to 20% over 10 years😂
ur not very smart, hes saying over 10 years *2%=20% total
@@robertcamiliere6678 that’s not how it works.
Over 10 years you are paying 20% in taxes based on his calculation according to mine it is probably around 25 considering assessment of property increases over time. But it is still worth owing than renting. House will appreciate over 50% during that duration so technically you are paying for everything but you will recover almost all of your expenses once it is sold. Didn’t make any or lose. Lived for free for 10 years. That’s how people should calculate. Renting 100 💯 money burning machine.
This guy is a piece of work, I dont want to be 80 years old using my social security to pay rent.
Stop paying property taxes and you will see who really owns your house
Ban mandatory school. Instead of spending $180,000 for a kids education for them to graduate and not kno how to work a cash register or flip a burger, that money could be spent on buying very cheap houses for the poor.
Whatever. My house payment is less than renting.
@@jimco1198 If you bought it today it wouldn't be.
My mom spends $1450 rent outta $1800 social security social security is a JOKE work 50 years and get $2500. What the fuck can you do with $2500 mean while bozos makes $3700 a secomd
I bought my 1st duplex home in 2006 for 120k. 15 years later I sold it and walked away with 150k liquid cash and was able to purchase another property without paying property gain taxes. Buy an investment property people! Do your own due diligence….there are real scammers out here telling folks not to buy. Even in this crazy world of overpriced homes. Find a way to buy. You can leverage tax lien, foreclosures, etc.
We have a paid off home. Now we are buying a little beach cottage for a whole boatload of money. It's in a cute little village on an island. Yeah, we're old, but not dead yet.
Cardone’s first multi-million windfall was flipping a mansion that he profited almost $10m on.
This guy watched the Warren Buffet video. He says the same thing. According to Warren Buffet, new houses are marked up 100% by the General Contractor. His example stated that a $200,000 new house has $50,000 in materials & $50,000 in labor & fees like a water tap. The rest is Mark up by the General Contractor. Then unless you can pay cash, you obtain a mortgage. Usually, 30 years. Compound Interest over that 30 years will triple the eventual cost to you. Now you paid $600,000 for a house that has $100,000 in materials & labor in it. Add to that how many things can go wrong over 30 years!
He forgets the part where tenants skip payments, squat, or destroy the property. There's more to renting than just having someone move in. One bad tenant can destroy years of work.
Renting is like throwing money away. You will never see it again.
You could say that about any experience that you spend money on.
Renting is simply the act of periodically paying for the experience of a place to live.
' "Going out to dinner" is like throwing money away. You will never see it again. '
Do you see how ridiculous that sounds?
@@jcantonelli1 exactly
Nah
You can get money from anywhere. Even win the shit
But youth...
Thats a fleeting moment in a long term relationship with pain
wtf are you talking? omg
But even when you own a house you will always pay maintenance, property taxes, and home owners insurance on it. Because of the property taxes, you never really completely own your home.
He's on the right track... you really don't make much on a house over 10 years. But you do make a little bit. And he conveniently left out that 10 years of rent you didn't have to pay because you owned your own home. That's the biggest income you walk away from with owning your own home - the free rent.
At this rate it will be 1.2 mill in 10 years.
I never trust a fast talker
Haha that’s a good instinct to go by
Why?
Me neither
@@johnyang1420 typically means they are tryna get you to look over something in my opinion. People who talk fast don’t want you thinking hard about what they say
Realtor fees are 7%, not 12%.
I like how all those ownership costs disappear the moment you rent it out
Ok bought for $165k. Remodeled added on for $150k. We are in the $550-600k range and owe under $100k at $1200 month. 2.75%
When we rented for 14 years for $1200-1500/mo we have nothing to show for it.
For most people owning a home is a smart decision, especially if you have a family. Rent is more than most mortgages so I don’t see how anyone can justify renting especially when you plan on living somewhere long term and have a family.
12% for broker fees 😂. Don't brokers get paid by the bank and so they rarely charge the client
lol no real estate brokers usually get paid by the seller.
@@collinbarrymore I'm talking about a mortgage broker. Is he talking about a real estate agent or something
Unless you abuse your house, you do not need 20 000 € on a 200 000 € property during 10 years, and at least in Europe (except UK and France) you do not pay 1 % per year in property taxes (in many EU countries you pay less than half of that). I doubt that it is like that even in the USA, at least in all 50 states.
Like other comments said, this guy wants everyone to not buy houses so that they rent his. What a piece of art...
Rents are increasing very rapidly and monthly rent is at its peak and growing more in big cities , where a house can give you are good secured vibes for life
When I graduated and was making money my first property wasn’t a house for myself but rather one to rent out
Stop paying property taxes and then you will find out who really owns your house!!!
Property taxes are around 1800yearly in my area. That's chump change. People pay that on a monthly basis for rent. Now don't you feel like a cardon fool
I did stop paying property taxes and nothing happened. I'm a veteran and exempt from paying
@@redwallz4624 // $6,000 in my area. It depends on the value of the property- in my area. $1,800 in property tax would mean I live in a shoe box.
@@darkhorse2reign that's crazy amount
@@redwallz4624 // Charge it to the game. But yeah, someone else had mentioned that basically no one actually owns shit anyhow. If you stop paying property taxes, watch and see what happens. I said something similar: Stop paying that mortgage and you'll soon see you don't actually own shit. The bank does. Between banks and the govt you gotta beat them at their own game and get elected to their board, buy stocks or municipal bonds. Gotta play chess (not checkers) with these people.