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I'll work on that for you. I can use personal examples of properties I own

The "point" is to get into real estate in the most affordable way possible. that's usually with a smaller monthly payment and smaller down payment for most people. Then stay put. In the last 7 years we went from a median home price of $306,000 to $417,000 in 2023. (Facts from HUD) I'd say $110,000 is more than nothing.

@@jarrodkinman Yes, how convenient that the market went on an upswing. That doesn't change the fact that you also would've earned, i would guess, 400% more equity with 15 year mortgage during the same time period. But one shouldn't confuse inflation with interest/principle tables. And besides, the extra $200 or so a month for the 15 year is soon absorbed and forgotten. I suppose the bottom line - is that a house can be a good investment 15 or 30 year. Hopefully, you didn't fall for the variable rate loan.

thank you for the feedback. Have a wonderful day

true true :)

agreed, times have changed. also it's always good to keep an eye on rates and refi when it enables you to pay off the home sooner or reduce your payments

what area do you live in? might have that builder in your town?

This is in the Phoenix AZ area. Builder is Lennar

Hey Josh, i respectfully disagree. every house I have owned over the last 25 years has gone up in value. history has proven your home doubles in value every 10-15 years. i was paying 8% interest on my first home as well. they key is to get started. time is your ally when buying real estate.

The house does not go up in value, your dollar just doesn’t have as much buying power as time progresses. Nobody really thinks that a 25 year old house has more value than the day it was first built and new.. it’s just inflation doing it’s magic.

​@@ramparttransportationinc inflation is real and plays a major part. But... if a house costs more money and an appraiser values it at a higher dollar amount then it used to be then it is "worth more" when you sell it and liquidate it. my grandparents bought a house for $16,000 that same house with doing nothing to it would cost $400,000 to buy as is. I do agree with you it's inflation, but that Inflation causes the value to go up. its real actual money when you sell a house, or at least digits on a screen. lol

​@@jarrodkinman The problem with that theory is that you think you're making money when comparing the cost to purchase something 20 years ago vs the cost to purchase it today. if you take that same approach to buying milk or gold, or any other commodity or service rendered, you will see the same concept of "value increase" applied due to inflation. Which then begs the question, is real estate the best investment? For a handful of people it might be, for others being a landlord or possessing real estate is a traumatic experience, and for others it just might not generate as much returns as other ventures might. People are all different and need to assess what they are good at and invest their money long term into that. I started my own business and it has made me 15x more than my house appreciated during that time and I live in Boise, ID where the market has grown exponentially in the past decade compared to the rest of the country. Some people have much better luck in stocks, some people can do great in online commerce, etc. My point is that you cannot really compare things from 20 years ago to today because for the good majority of things, those prices have risen along with inflation. The worst thing about inflation is how much buying power we lose each year because wages don't keep up with it. That's why households in the 1950's could live comfortably on 1 income where that earner wasn't even college educated and just worked at a factory. Meanwhile today a lot of families are struggling to provide with 2 incomes with bachelor's or masters degrees.

real estate is such a powerful tool

then you need to save more money with yourself :)

this is a great idea @Jennifr1966! You can do that with two three or four people. house hacking by living in one unit and partnering with friends living in other units its a great idea. Just write up a legal agreement on how you will handle things if someone needs to change plans. Usually I recommend everyone needs to stick with it for at least two years.

hey Tony, many people don't realize that you only have to put 5% down payment on a house in order to get a mortgage. So for example a $300,000 house you'd need to save up $15,000 for a down payment

yes that's correct. I'm seeing sellers happy to pay what they call "concessions" the buyer can then get a lower interest rate with those funds or "credits"

thanks Jeremy, true, there may be some with no retirement. but our goal was to share that some don't even realize its accessible. Keep spreading the solutions, it isn't cheap but it's worth the investment :) real estate usually doubles in value every 10 years so it's worth making a plan!

Well it is very market dependent. Our data suggests otherwise. There is a shortage of homes in my market in Arizona. We are back to a multiple offers on properties because there is not enough supply for the amount of people that want to buy a home.

If you're retired, and it helps you sleep, pay it off. But I'll keep doing cash out refi's, buy more real estate, and compound my equity growth.

Relocation of wealth and lack of supply created the higher values we have in Arizona and Texas now. I'm personally in the AZ market. Californians fed up with their local government moved to less expensive areas, therefore increasing demand and price.

@@jarrodkinman NEW YORK/WASHINGTON, May 15 (Reuters) - As talks over raising the U.S. government's $31.4 trillion debt ceiling intensify, Wall Street banks and asset managers have begun preparing for fallout from a potential default.

yeah for sure people can save that on their own! But as we all know some people need a forced savings to get it done. Just providing solution ideas for those with very little saving currently

I can't save $40,000 on my own

@@Jennifr1966 how long would it take you to save $10k?

Thanks for your input. Supply and Demand is still king in real estate. In Phoenix metropolitan we have half the supply we typically do in a balanced market. no one said it was a healthy economy, just making a point that in my market the cooling off of home prices already happened.

Blackrock has raised billions more to buy even more residential real estate. Seems they like it more than commercial now.

Wonder if people will start targeting the leadership of any bank or corporation that hoards homes away from families. Can’t deny that a bullet isn’t deserved based on what they are doing.

It's all good, I actually have a good friend and colleague who's in Hawaii. Let me know if you'd like a connection👍

@@jarrodkinman I appreciate the offer, but the median home price in my neighborhood is around 1.2mil. No one that works here can afford to live here. We're all waiting on a few devastating natural disasters to make homes affordable again. 🤞all the beachfront gets wiped out.

what data do you have indicating that is going to happen?

Well I'm living proof that it works. I've done this three times with homes I've lived in. Just sharing some positive solutions for people. It's all in how you buy it. and no, you don't have to sell. I access equity every 3-5 years by doing a cash out refi and using that cash to buy more properties.

@@jarrodkinman Well mabey when the rates where lower but not at 8% this 400K home even with 20-40k downpayment that intrest would require 4 people putting 1250$ each on the home not including utilities and HOA and Home Insurance And Lawn and Property Tax If they did what your saying in this video the intrest would compound against them since the payments each person is making is too low it would need to be double . Its still a good idea if you have 4 people who are quality and live on a budget and make takehome of 2000-2200$ and are wanting to build equity in a home.

@@muradshawar yes 8% is more expensive. But the great part about real estate is it will double in value every 10-15 years so it's more of a waiting game than it is an interest rate. I paid 8% when I bought my first house, my parents paid 13% when they bought in the 80s. the "4 partners" hack is about making it more affordable to invest together. You need at least 2 years of commitment to pull this strategy off but the longer the better.

@muradshawar thanks for the reach out! Actually $400k with 20% down at 8% would be $2,348 a month on a 30 yr loan. even with a down payment of 10% it would be $2,642 a month P&I total. Divide that number by 4 it's $660.50 a person.

@@jarrodkinman Not a bad deal . I might consider that . Does that include the property tax and Home insurnace and HOA fee and utilities as well

lol, well you might want to educate yourself on the federal reserve, and chairman, Jerome Powell's pledge to bring inflation down

SO, this is what I have heard from very reliable source....once the new money Nesara starts,everything will go down in price and that includes housing. Someone else talking about it said they believed the prices might go down as low as the mid 1950's prices...I am not really believing that, but I'd bet a $500,000 home would be as low as $ 200 or $250,000....everyone will be able to have the American dream and be a home owner....soon, God willing, soon!

Carik, Nesara was a proposal that was never introduced in congress. Watch the money from Wall Street, prices won't be going down, rents will be going up. Prices of homes in the 50s were $16,000 range, I don't see that ever happening again sorry. When Blackstone and JP Morgan are raising billion dollar funds to buy more residential real estate and rent it out, prices will still continue to trend up over time.

Dang sorry to hear that Sar, I Have definitely been there before too. keep the hope alive, it may take some time but you'll find a good one.

@@jarrodkinman That's what I'm thinking. I wish they'd quit letting these institutional investors snatch up all this property.

@@lisas44 I agree completely. these wall street hedge funds are switching from commercial to residential it seems

Step 1 is the hardest step.

you can have multiple people on a mortgage, so best practice is the ones with the best credit

You, and 3 other partners equals 4👍