Thank you so much for this extremely Detailed explanation.. especially of Private and Hard lending money.. I've watched many videos but yours gave me exactly the information I was looking for in One Nutshell.. Thanks Again 😊
Why are you explaining the cash part so much? I think anyone that came here fully understands that this means you're paying for the house up front. Like boom... here's your money, now give me the house. That's where i'm at right now. I have the money, and just need to know what the process is, and who to contact
Like Michael Scott said: "Explain it to me like I'm 5" hahah and this is exactly what I wanted, cos I know nothing yet I am ready to buy my first house, thanks for the detailed explanation for ppl like me! (:
Form a trust and research tax forms 706 and 709 and 1041 and look up exemptions and exclusions as defined in its tax code until u get it then a 💡 will come on ...
this will be my 1st time buying in cash.. want to know 1. who should i contact to find a good deal in my area? 2. how much under asking is reasonable in this current market? (Im in NJ)
I am tryting to figure this out. if two people put in bids to buy a house for the same amount one is a cash offer and the other is a loan why would the cash offer be better ? does the seller get their money faster?
Adrian Cata they definitely get it faster, but more importantly they know they will get it! the loan process can get stalled or terminated for many reasons
What If I lucky enough to win big on a lottery and buy a house can that work? Maybe like 1.1m average I don’t anything too big unless I’m a billionaire
Bogus explanation. The guy is confused. No need for complicating matters. It is simple: Cash purchase means no mortgage and no borrowing is involved; your bank statement shows cash is available. You take a bank check to closing and pick up the keys. The deed/title is now in your name. End of story. Mortgage company is not involved in this transaction. You do not owe anybody anything. You bought the house with your own cash savings.
What if you don't want to leave tons of cash in the bank because you dont trust banks, but at the closing they insist that your money be in a bank at least 60 days? It seems like its literally illegal to show up at closing with a book bag full of cash.
1 question,im going to be 18 in 2021 and i plan on buying my first house in cash. Would i still be able to buy a house even though ill have little to no credit due to the fact that i would have just recently turned 18?
If you have enough cash to buy the house outright, they won't even check your credit. Credit is used to determine whether you are a trustworthy borrower.
@@BradKaellner so I wonder if you would even need a real estate agent, if you are buying with cash? I suppose to make sure the contract is correct, right?
@@kbanghart I’d say an agent is even more important if buying with cash! If you’re getting a bank loan the lender is going to make sure the value of the house covers the loan. In a cash deal the diligence is on you
i like your video thx if my annually income 50-70k and my brother income 35k and we want to buy house worth 200k we sold our family land back home overseas and we can receive the money here so we can buy the house all cash what you think in this how IRS would do since it showed only we making around 100k annually income we still can purchase the house without issues with IRS?
That's false .. cash is legal tender for all debts public and private ..if you file the right taxes you can get a nice return instead of a tax on it ...depending on how much was spent... hint : gift and estate taxes and trusts....
Ayden Tee hit that thumbs down button 👎 and it won’t be a waste of time, you’ll be improving the algorithm 😂 and please check out my newer videos if you want to waste more time 🤙
Ayden Tee, This video is VERY informative for people that didn't understand that "buying a house with cash" means paying for the fucking house up front... So, basically people with an IQ below 15..
I was hoping you explained how to go threw the steps on buying a home with the brief case situation without possibly getting your money seized or without getting involved with legal trouble.
That was the longest explanation of "cash-purchase" I've ever heard. LOL. It means no banks or loans are involved- PERIOD
Giovanni di Capo oh I’ve seen much longer 😜
Technically, that's not true. If it's private money or hard money those are nontraditional loans, but they are loans.
😂😂😂
lmao exactly
yes!!!!!And his stupid HYPOTHETICALS WENT ON FOREVER!!!!10 percent...how silly...stop...
Buying a house in Cash gives you a better bargaining position for a lower price.
It certainly can, especially if the buyer needs a quick sale
Thanks but how low though ?
@@chocolatethundercherry143 I think it really just depends. I mean, why not shoot for low and then you can always negotiate.
And you have to worry about how to pay
Aha, so buying with cash means the buyer's ability to pay isn't dependent on what some third party (bank) thinks the property is worth. Got it!
Glad that clicked for you!
Thank you so much for this extremely Detailed explanation.. especially of Private and Hard lending money.. I've watched many videos but yours gave me exactly the information I was looking for in One Nutshell.. Thanks Again 😊
You’re very welcome!
Why are you explaining the cash part so much?
I think anyone that came here fully understands that this means you're paying for the house up front. Like boom... here's your money, now give me the house.
That's where i'm at right now.
I have the money, and just need to know what the process is, and who to contact
find a good title agent
Thanks for the new video! I’m looking forward to seeing what other content you post! Always good to learn as much as you can!
I appreciate you describing in depth.
Awesome. Thanks. I just don't want a monthly mortgage payment.
Me too
Like Michael Scott said: "Explain it to me like I'm 5" hahah and this is exactly what I wanted, cos I know nothing yet I am ready to buy my first house, thanks for the detailed explanation for ppl like me! (:
Thanks for explaining I’m looking to buy a $350,000 house with cash.
Fun times! Whereabouts?
My question is how to get the cash in the bank to buy without gettin audited
Great topic for another video!
Form a trust and research tax forms 706 and 709 and 1041 and look up exemptions and exclusions as defined in its tax code until u get it then a 💡 will come on ...
Buying house with cash means buying house with cash.
Right, that's what I should have said!
"say I want to buy $100,000 house" well considering those don't exist anymore, I guess you can see how old this video is. Lol
So down to the real questions , Can you buy a house with a suitcase full of money if necessary?
can I still pay someone in cash for a house? if I have 250k in all 100s etc.
Lol
. he's obsessed with suit cases of cash
Yes, do you have one for me?
Very helpful, thanks!
You’re welcome Lola! Let me know if you have any other questions 🤙
Buying with cash, how to i prevent getting scammed??
Work with a reputable title agent
Title agent?
@@Ms.PSnazzy
Land Title company.
this will be my 1st time buying in cash.. want to know 1. who should i contact to find a good deal in my area? 2. how much under asking is reasonable in this current market? (Im in NJ)
I am tryting to figure this out. if two people put in bids to buy a house for the same amount one is a cash offer and the other is a loan why would the cash offer be better ? does the seller get their money faster?
Adrian Cata they definitely get it faster, but more importantly they know they will get it! the loan process can get stalled or terminated for many reasons
@@bkaellner ok that makes sense thanks
Faster and guaranteed
@@vanalex2698 probably want a bigger commission
FACT; You have the same voice as tennis commentator Leif Shiras.
LOL nice video Brad. How come you haven't done, buying stocks with cash yet? :D
Haha, are you stalking me?!?
@@BradKaellner Looks like it :)
What If I lucky enough to win big on a lottery and buy a house can that work? Maybe like 1.1m average I don’t anything too big unless I’m a billionaire
Easy win easy lose... keep hustlin!
Always do an inspection before buying a home even if you are using cash.
Very nice video, thank you!
😂 that meeeeans.... They're buying the house with cash. LOL
Did not get to the point
I saved the cash today a house but it's in an asset .
What if there is no lender? I have an asset that I know is worth much more than the cost of the property.
Bogus explanation. The guy is confused. No need for complicating matters. It is simple: Cash purchase means no mortgage and no borrowing is involved; your bank statement shows cash is available. You take a bank check to closing and pick up the keys. The deed/title is now in your name. End of story. Mortgage company is not involved in this transaction. You do not owe anybody anything. You bought the house with your own cash savings.
Do it have to be a check?
What if you don't want to leave tons of cash in the bank because you dont trust banks, but at the closing they insist that your money be in a bank at least 60 days? It seems like its literally illegal to show up at closing with a book bag full of cash.
@@spidameng944 you don’t trust a bank 😂
1 question,im going to be 18 in 2021 and i plan on buying my first house in cash. Would i still be able to buy a house even though ill have little to no credit due to the fact that i would have just recently turned 18?
If you have enough cash to buy the house outright, they won't even check your credit. Credit is used to determine whether you are a trustworthy borrower.
@@BradKaellner ohh okay thank you so much💯
Your 18
His generation really screwed it up for us. Be lucky we will have houses In the future
@@BradKaellner so I wonder if you would even need a real estate agent, if you are buying with cash? I suppose to make sure the contract is correct, right?
@@kbanghart I’d say an agent is even more important if buying with cash! If you’re getting a bank loan the lender is going to make sure the value of the house covers the loan. In a cash deal the diligence is on you
. dope
I never knew this was rocket science
Why does this guy remind me of Tim Ferriss?
you forget how to buy a house with cash with wining a $100,000.00 jackpot from the lottery lol how can i buy a house with cash wining the lottery?
great video topic!
i like your video thx
if my annually income 50-70k and my brother income 35k
and we want to buy house worth 200k
we sold our family land back home overseas and we can receive the money here so we can buy the house all cash
what you think in this how IRS would do since it showed only we making around 100k annually income
we still can purchase the house without issues with IRS?
Does any one know if it is possible to use the finance trapped in a cash bought home with no mortgage to buy another property as a buy to let?
Do you buy houses in the Mississippi area because I got one for sale and if not do you know any of anyone that do
Will buy im located in Memphis how much are you willing to sell for?
Should have been titled selling your house for cash. I'm walking around with my briefcase, and didn't learn anything.
Huh ? 😐
What about taxes?
I think it's against the law to pay with actual cash.
Right because only a mobster would do that!
That's false .. cash is legal tender for all debts public and private ..if you file the right taxes you can get a nice return instead of a tax on it ...depending on how much was spent... hint : gift and estate taxes and trusts....
This didn't explain the process at all.. we know what fucking cash means
Better on 1.75 speed
I would like to speak with you about maybe selling you a home. How would I contact you?
Never met one of these lenders who deal on "trust".
Maybe because you're not trustworthy😜😄
usually they youre rich uncle or someone who is family
Talk way to slow..I can’t deal
What are the documents you need to have after buying cash? Asking for someone…?😂
Paying cash that's what a means to me Pay Cash up front bring out the duffle bags with 💰🤑🤑.. If it don't or I didn't think like that I'd be stupid...
K
Ridiculous..... your explanation. The seller doesn't care where the cash comes from, as long as you close the deal with cash and carry.
not academic
No help at all! Absolutely zero!
👎 and blocked for wasting people's time!
What the hell did i just waste 5 mins of my life on this unnecessary rambling on things that are COMMON SENSE
Ayden Tee hit that thumbs down button 👎 and it won’t be a waste of time, you’ll be improving the algorithm 😂 and please check out my newer videos if you want to waste more time 🤙
Ayden Tee, This video is VERY informative for people that didn't understand that "buying a house with cash" means paying for the fucking house up front...
So, basically people with an IQ below 15..
I was hoping you explained how to go threw the steps on buying a home with the brief case situation without possibly getting your money seized or without getting involved with legal trouble.
Lol! All I wanted to know was is it a fast close or not??
Hold on. Why do you look like Shermanator from American Pie?🤣 Great video, btw.
Hard money = borrowing money from the mob. 😆
Great video