Graham Stephan’s 2024 Real Estate Predictions | Millionaires In Cars Getting Coffee
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- Опубликовано: 12 июн 2024
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My friend Graham Stephan, real estate mogul and host of the Iced Coffee Hour podcast, is back on the show to talk about how he made millions in real estate, as well as his predictions for the housing market in 2024.
Check out Iced Coffee Hour here: / @theicedcoffeehour
Order George Kamel’s new book, Breaking Free From Broke, and get more than $100 in FREE bonus items: store.ramseysolutions.com/mon...
George Kamel is a personal finance expert and co-host of The Ramsey Show. Following Ramsey’s proven money plan, George went from negative net worth to a millionaire in under 10 years. His goal is to help people spend less, save more, and avoid money traps so they can live a life with more margin, options and freedom.
This channel will simplify complex money topics, bust money myths with actual facts, and debunk the stupid financial advice you're seeing in your social media feed. All with a healthy dose of pop culture, humor, and snark.
I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
The fact that there is already an excessive amount of demand awaiting its absorption, despite how everyone is frightened and calling the crash, is another reason why it is less likely to occur that way. 2008 saw no one, at least not the broad public, making this forecast, as I'll explain below. The ownership rate was noted to have peaked in 2004 in the other comment. Having previously peaked in the second quarter of 2020, we are currently at the median level. Between 2008 and 2012, it dropped by 3%, and by the second quarter of 2020, it had dropped from 68 to 65.
Real estate and stock investments may be good decisions, especially if you have a solid trading strategy that can see you through prosperous days.
You're not doing anything wrong; the problem is that you don't have the knowledge needed to succeed in a challenging market. Only highly qualified professionals who had to experience the 2008 financial crisis could hope to earn a high salary in these challenging conditions.
Recently, I've been considering the possibility of speaking with consultants. I need guidance because I'm an adult, but I'm not sure if their services would be all that helpful.
Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
The Graham and George combo is awesome. We need more people sharing like this in the finance space. Lot’s of similarities, minor differences, great spirits!
Short kings in Teslas getting coffee is now my favorite recurring bit on this channel
George you’re awesome. I love the little edit cut aways, every video I laugh out loud which makes it entertaining on top of the great life/financial advice. You’re doing great work keep it up
Graham, please don't ever stop making RUclips videos!!! I don't listen to podcasts but love the RUclips videos!!!
I foresaw the housing crisis and sold my property. I then put it in the market, about $200,000 of it. That was late February. I've lost more than 40% of my portfolio's value. It makes me really sad. How can I turn this situation around?
This is really sad. If you're not who understands strategies to invest in the market, why not seek a financial advisor to help you grow your portfolio?
Having an investment advisor is the best way to go about the stock market right now. I’ve been in touch with a coach for a while now mostly and I gained within a short time.
That's impressive! I could really use the expertise of your advisor. Could you recommend who you work with, please?
Doing your research will save you a lot of hassle, Monica Mary Strigle is her name and she is licensed.
Thank you for this. I'm gonna check her out and try to reach her. I hope she gets back to me.
Great guest! Thank you for the content!
Great Duo 🎉 We need more videos like this !!!
I enjoy your humour while watching your show on serious topics.
Simply put; George is the best.
Make these videos longer! They’re great
My two favourite financial gurus! Love it!! Thanks George and Graham!
Great episode! Gragham is the man! Love his advice about all things real estate.
Good renters are valuable. My dad's friend had 2 properties in San Jose, one property he has been renting to the same family for $1200 a month for decades. They are great people who he now considers friends and they take great care of the place. He could probably get over 3x more rent but he doesn't care. They are awesome and the perfect renters.
In contrast, His kid, my old friend from high-school stayed in the other place and trashed it. He had to completely gut the house and renovate it after kicking him out...
Then he sold that place and made over a million in profit.
Try 350 a month for over a decade and it just went up to 375
It sounds like he has a good hobby.
the car seat base in the back is just the perfect touch
Great interview! Just ordered George's new book "Breaking Free From Broke"!
I would not pay cash for one rental property if I had $400K to invest. I would buy four with a mortgage. You do not want to have all your eggs in one basket. For a lot of reasons. I have 6 Rentals 3 are paid off and 3 have small mortgages. I also flip houses occasionally. So, this is my opinion from my personal experience. I've been successfully investing in real estate for ten years. I also have a full-time job.
Ramsey says only to buy in cash in order to have no risk. It won’t make you rich, but he isn’t trying to make people rich. Just make sure they don’t die on the street when they retire.
@@timson7970 That makes sense for most people. owning rental properties is definitely not for everybody.
Love these!! ❤❤❤
Love seeing the care seat mount in the back, way to go George!
woot woot love the highlight on SLC and the temple reconstruction
Caleb Hammer for next guest!!
great episode! Putting my vote in for Guy Fieri!!
Caleb hammer- from financial audit. He’s like a modern Dave Ramsey. ❤
Love the edits 😂 very entertaining
Graham, buddy, spring for some sunglasses:) #1 cause of cataract's later in life is not wearing sunglasses. This was a good segment and I agree, the time doesn't feel right to invest in real estate. Thank you for the info, and George, these Millionaires in Cars segments are fun!
I briefly looked at some real estate during the late summer -- not worth it with interest rates -- and I'd have to sell my place -- also risky. Keeping my home and working on paying it off in 3 years max. Got a plan!!
What was the prediction about the 2024 real estate market? I must have missed it
Another excellent video
The same guy who doesn't spend $15 to eat..... $40k watch, best buy ever.
I would enjoy you talking to Caleb Hammer Financial Audit or Tyler Wain hope financial
My New Years Resolution is for Dave to publicly apologize to George for ignorantly dragging you on the show over the 4% withdrawal rate.
Yep, he was talking about specifically the FIRE movement and the 4% rule is safe
The look on his face when you said you buy cash 😂
You two need a recurring series
Caleb Hammer would be a great coffee date!
Jaspreet Singh!
Future guests: Dave Ramsey, a Shark Tank regular cast member, a self made millionaire. Enjoy your channel. Happy New Year!
It was actually really eye opening the math on rental properties. I would agree with wanting at least a 10% ROI because you need to be beating what you'd make on cash significantly to account for maintenance costs or potential vacancies. It doesn't seem like the math makes sense at all to get a rental property in the current environment.
The S&P returns approximately 10% annually so I would think real estate would need to return approximately 15% to make it worth while.
I really like Millionaires in Cars Getting Coffee! Short, sweet & to the financial point. Would like to see you drive with the RUclipsr from Minority Mindset & Patrick Bet-David.
The driver window on your Tesla Model S sounds sad when being rolled up, George.
Yes! Guy Fieri would be awesome!
Get Guy!
I would love to see Caleb Hammer on as a guest!
Guy Fieri would be lovely tbh.
I wanna know how he manages his finances and how he became a legend
I’m still waiting to see Graham and anybody from Ramsey Media to debate Credit cards. I’d even pay to see it.
If you buy it right, for less than will appraise,, you can also add to your networth, upon purchase.
@George please share more on the HYSA 5.4%
DM me on IG @GeorgeKamel
@@GeorgeKamel thanks. Unfortunately I'm an old codger and not on the gram. Don't worry for now ill reach out if I sign up / modernize.
Personally to answer George’s question (determining market rent on a cash purchase) I run the numbers as if I was buying on credit then add in a % for maintenance, upkeep , and repairs (cap ex). I’d also maybe consider paying myself the management fee. Add all of these up determine my number then hit up all of the local places where rentals are advertised Facebook, Craig’s list, etc and determine if I’m in the ballpark. That’s how I’d analyze it. If you are in a comfortable zone then I’d buy.
Real entertainment but with a financial takeaway. Reminds me of Seinfelds comedian ls in cars getting coffee, but at the end you get more than laughs
I'd like to see Erin Talks Money on your show. I'm not sure she's very big, but I like your channels.
That would be a good episode. She offers sound advice.
I would love to see Michael Jordan do this type of interview. Also, I'd like to hear him talk about NIL money in college today.
He's an amazing businessman. Get him together w. Mark Cuban?
I also want to hear about how he lost $500m betting against GME
You should do Vivek R!
I love this episode with Graham! He's always so cool. George, I think you should get Seinfeld. He's pretty cool too! It would be so funny with two comedians! - Kamel & Seinfeld in the ol' Tesla!
I really enjoy watching you and Graham bounce off each other. I would get a kick of more with him or meet Kevin
Bring Dave to get coffee!
Haha he’d probably spend the first minute or 2 griping about how George bought a Tesla
Graham predicted that it was a good idea to sell FTX to his audience.
Definitely bring on Guy Fieri!
Warren Buffet and Charlie Munger said it was very difficult to identify inefficiencies in the real estate market because of that they bought stocks and companies. That makes sense except when a real estate bubble bursts, that is an inefficacy.
As a landlord myself, I was surprised to hear that Graham supplies a washer/dryer ... My properties have the hookup, and if a tenant wants to get their own they can but they are also responsible for any damages they may cause to the property. Also, if a previous tenant leaves behind their washer/dryer and a new tenant moves in, the new tenant is specifically told and initials in the lease that they can be used but if they break we don't replace or repair them. We will only remove the broken appliance.
It depends on the unit being rented. This is beginning to become more standard at certain price points.
thats nice you offer to remove them, i kinda feel like they should be responsible for that once they make the decision to keep the machines
@@RCGuitar982 It's not a big deal. Where I live, people will literally come take a broken appliance for free, for the scrap.
@@Jumpman67 oh no doubt, when i started out renting i was 21 and clueless, ended up with the greediest sob's upstate NY could give you
In my area, units with washer dryers rent SIGNIFICANTLY higher than units without. The cost of the machines plus maintenance is made back many times over with the higher monthly rent.
Erin Talks Money
have Caleb Hammer on!
Property management is not an ideal investment right now because it's market dependent and has too many other variables. There are some bad tenants, home repairs, and HOA & tax increases. Even if I had the cash to do so, I would probably lean towards keeping most of my money in an HYSA and some in mutual funds.
Guy Fieri would be awesome!
Totally not hating, but I’d love some context on George’s salary. I became BS7 about the same time George said he was breaking through financially and now he’s riding around in a Tesla (Cash) and buying investment properties 400k (Cash). I feel like a nerd because my BS7 with a great income doesn’t look like that lol. I hope it’s because Dave is paying 7 figures, but the old man doesn’t strike me as that type!! Thanks for all the great “free” content.
Tesla was a 2013 and purchased in 2021. I don’t own any investment properties. Just my primary home. Hope that helps
@@GeorgeKamel it was none of my business, thanks for replying with grace. Success looks great on you! That was from a place of my insecurities….
We want Guy Fieri 🇺🇸
Give us Creed bro!
As of today SPHR stock is down to 33.73
Sad how Dave still hasn’t publicly apologized to you yet. Very sad.
Don’t hold your breath lol Dave never apologizes
That's not coffee; it's dessert 😅
Andrei Jhik and Kevin Pafrath!!!!!! ❤❤❤❤❤❤❤
I know these are a reach, but: Ashton Kutcher, Warren Buffet, Mark Cuban, Ryan Reynolds for investing. An easier choice might be David Platt. He challenged how his church in Birmingham allocated money to each ministry when he was a pastor there. He also really changed how the International Mission Board spent money when he was the president. Maybe Francis Chan too since he was a leader of a mega church and decided to leave that life behind to live abroad. He also is known to be a huge giver.
Can I put in a guest request for Jerry Seinfeld 🙋♂
See if you can get Nate O’Brien on.
“Angel Investor”…🤔😇
I'm afraid I have to disagree with Graham about it being a bad time to buy for rent. He's using the debt side of the argument, while George uses his cash flow side.
The only reason it's cheaper to rent than to buy right now is because of the mortgage rates. With no mortgage rate, a buyer can afford to list his rent at a cheaper rate than the market rate compared to the buyer using debt.
Since Graham's argument is controlled by debt, it should weigh less into George's planning.
Plus, interest rates have softened the market to lean more towards a buyer than a seller. But that's only true when paying in cash.
Caleb hammer
Caleb Hammer
Guess I missed the “predictions”
Has Dave apologized to you about his ridiculous 4% withdrawal rate rant ? If not, he should . Keep up the great work, George!
Get over it
Did George apologize for going behind his boss while using his bosses name to achieve fame and success?
@@chief5981what you just said made no sense. Imagine defending a tyrannical liar. Sad times.
@@reyrey992cry more
oh look a Dave Ramsey hater ... we get it you don't like Dave Ramsey ... but it's good to see that he lives rent free in your snowflake brain
have jack be the second return guest
Get Bo Hanson to do a video
Graham telling us there are NO deals to be found right now in his market as well as only having 5 rental properties in his current portfolio… that should tell you everything you need to know about the current housing market and what he thinks about it. He’s sold off pretty much everything, he’s sitting on cash and we have unaffordable homes.
I've stopped his main channel and mostly watch his pod cast. Give it time and it will over take main.
$2000 for a washer/dryer??? They’re about £300 in the U.K. - why don’t Americans import them from Europe?
You should have a subscriber on who has been following your advice and got out of debt or started investing for the first time! I think it’d be fun to see “one of us.” But then it might not be “millionaires” I guess 🤣
Certainly could be a millionaire. Many followers have gone from debt to millionaire.
I also did my math and decided not to increase rent for my great tenants even though the market price is 500 bucks higher. Don't want to risk it
This was filmed like 6 months ago
🤙
10:27 The thousand-yard stare combined while saying, "I didn't know how this Thursday was going to go." makes me think that Dave Ramsey has meetings with his 'Personalities' on Thursdays.
Rewatching, and 0:33 also has a sinister sting. I know it's for comedic effect, but this may be the darkest episode of Millionaires In Cars Getting Coffee, ever. Still, I'm a big fan. I hope to get my net worth over the million line so I'll have a chance to be a guest one day.
Jaspreet Singh with Minority Mindset would be a good one.
Get Matt Walsh.
Hahahahaah I don’t even know how it took Graham that long to do that math. If you’re in real estate you should know your numbers by heart. You can tell things just fell into his lap and he’s comfortable not working for good returns anymore.
His 40k watch investment makes me feel better about my 3k vacation I'm going to take this year. I'm a workaholic easily.
Vacations are memories. The watch is an asset if you know what and how to buy. You shouldnt feel guilty about either if you are positioned right.
@@03c5z you're right. I rarely spend on things in hopes to be able retire a bit earlier than usual.
@@Winston0Boogie nothing wrong with that, just make sure you enjoy life along the way. Best of luck in your journey
I stopped watching when it mentioned using $400k in cash. I realized I'm not the target audience for this video
lmao I thought he would at least say 200k when he said 400k I was out too?
So what was his prediction he just said he doesn’t see any good deals.
How long to save 400k to pay cash? Lol. Even 25% for 100k is difficult. Props to who can.
Grahm has OCPD.
Alex Hormozi or Leila Hormozi would be excellent guests.
Alex was on a previous episode!
Would love to see Grant Cardone or Robert Kiyosaki in the passenger seat for the ultimate oil/water conversation.
Too short