To be fair the guy at 14:19 actually drives the R8 he’s standing next to, I haven’t seen the registration though so I don’t know for sure if it’s his dad’s or his
let me tell you. I have known this guy for many years. Before he was a scam artist. There was never a 7500$ loan. He finished dead last in a bodybuilding show and went to bali to get tattoos. Now that he scams people for a living, he tried to get involved with some gangs, they shot his "co worker" in the head, shot up his car and he moved to Bali. He was never rich. His car and AirBnb were put under a business credit for a business that he did not own, he was the bottom guy for a forex scam, he was literally just the face for a lot of these scams. The moment he got publicly exposed, he blocked everyone he grew up around, fabricated this wild story and moved. Now he lives in Bali of the money he makes scamming people with his "business partners". Until they eventually run into the wrong gangs over there too.
nah I know so many people who sign for loans just looking at the monthly while ignoring how much money they lose on interest. As long as they can pay the monthly, they don't care
@@snart2195 buying one of those big ass trucks (unless you use it for work) is the dumbest thing you can do. Cause they cost so much and need so much gas, but I see so many dudes who didn't need it with them.
@@-Saieven if you need a truck for work, those trucks have tiny truck beds and the beds are way to high for practicality. People who actually use trucks for work, use smaller but actually practical trucks usually.
shout out to the owner of the restaurant i managed during covid laying off all his employees that worked for him 25 years + and instead wrote weekly paychecks for him and his wife equating to exactly his ppp loan
If this is true, unironically file a tip/fraud report with the SBA. Under the False Claims Act you could get 15-30% of the recovered funds if the government determines there was indeed fraud and wins a lawsuit. Plus, you take down a scumbag.
@@preethamrndoing so would put many of my past co workers out of work. Many of them didnt have green cards, and that job meant survival. He did hire them all back when we reopened, and a lot still work there. He is the biggest POS i’ve ever met, but those are good people.
I had a handyman who never filed taxes, dealt in cash, etc. because he doesn't believe in socialism. When we got to talking about retirement he was banking exclusively on social security. The hypocrisy was wild, but when I explained he won't get SSI because he never filed taxes he felt it. His world crumbled at 58.
@@brianarc2can’t blame you, the fact a person thought that taxes=socialism, something that every type of government system does, directly or indirectly is that is just, mind boggling.
Well, if he has worked for someone else that withheld SS tax for at least 11 years in his life, he will get at least the minimum benefit, which could be as low as like $50 per month, and maxes out at a little over $1k at full retirement age!
I just clean' up my room and next thing I knew a golden lobsters challenged me to a fight and I won using the shadow of my monster. That really heighten my conscientiousness
I hate these Tik Tok Real Estate investors because you can tell 100% that they don't understand Real Estate investing. Rent not paying for all of the housing expenses is normal in Real Estate investing. The idea that you can get 100% of everything covered is a new concept. Historically, Real Estate investing was a long term game where you lose money at first and after 10 years start to see cash flow plus the appreciation. Housing on average has only gone up like 3-4% a year over the last 90 years. The real money in Real Estate came from long term holding as the leverage is stable and cheap and eventually the asset mixed with rent increases out pace the cost of the mortgage. This is usually a 10 year process to actual profitability. Meanwhile, the stock market has gone up 8-10% a year on average. For this reason, housing should never be your first investment unless you are buying it to live in. The idea of housing as a short term investment is a concept that began in the 2000s, died in 2008, then came back in 2017 after there became a shortage of housing inventory.
I think a lot of real estate "investors" have been popping up recently cause in a lot of countries there is a huge real estate bubble. In countries like Canada, Australia, New Zealand, etc. Houses in the last 10-15 years have doubled, even tripled in some cases. So you could gains at almost the rate of the stock market but investing in housing is also seen as more "safe".
"last 90 years" is very conveinently missing a regularly occurring event. And even without a worldwide depression, urban prices are due to crash as work-from-work disappears.
Yeah it's heavily dependent on a lot of factors. I bought my townhouse in 2013(?) for 180k. It's worth 600k now. I was going to buy another this year, so I looked around. It's pretty bad. Me renting out that first property would not cover the costs at all. It would take 7 years to break even, and 10 to get some real cash flow like you said. A lot of places are even bumping up their HOA. One place I saw, they raised the HOA by 300 up to 1k per month. That's stupid. In comparison, I can just put my money into stocks and have more flexibility.
Yea only rare models actually appreciate and it sure as hell isnt s truck or suv usually sports cars only and a very rare version or limited run of that model.
Why? A car is not expected to increase in value, a car is not an investment. A car is an expense. That 14 percent APR is simply part of that expense. Is it too high? Yes, but it is often necessary for folks with poor credit who need a vehicle for their travel requirements. That 14 percent is far from the craziest thing ever heard. Try someone with deep subprime credit for something really crazy. Or a payday loan. That 14 percent shows the reason a person's credit score is so important. In the end, the important consideration is whether that total expense fits within the person's budget and financial goals.
I had a friend with very menial credit history and poor scores upgrade his car. It was very much needed, his 1999 GMC Sierra was on its last legs and he got a modest Kia Soul. Poor bastard got taken for a ride, he financed $20k at 12% APR; he literally signed up to pay $30k for a $20k car
You gotta realize there's a personality type that just doesn't care about prison they are in and out their whole lives its like home to them and when they're not in prison they're just doing illegal stuff for money and balling out.
Some people just ride the wave that is life and don’t care too deeply about things like that, prison is just another experience to have, or he’s just being funny and the story is fake 😂
I went to high school with him - he was genuinely one of the funniest dudes and everyone loved him. Idk if he actually did all of the PPE fraud stuff but I’m hoping he’s good 😂😂😂😂
I had a car payment of 350$ dollars a month when I first started working and because rent and the car payment were due the same day, I was legit stressed to make sure there was enough in my account to cover both going out. Eventually my finances got better, but after my car got totaled and I used the insurance money to get a replacement and immediately paid it off even if it meant eating into my savings. No regrets, it feels so good to not have that debt in my mind. How anybody takes on massive loans with huge monthly payments just to flex baffles me.
Peoples minds are so warped they think anyone actually cares what car you drive or what house you live Unless you’re successful (and most people are just average) we can all see how dumb you are for going into debt you didn’t need to
I'm about to hit 10 years on my current car. Paid off, runs great, looks great. Every time I'm tempted to get the latest model, I remember how nice it is to not have debt. That's the way to live.
I have a 99 Pontiac Sunfire that I drive to work everyday. I bought that car in 2010 for $2000. Very easy to fix and parts are cheap. It has 370,000km on it and still runs fine. The sad thing is, I could probably sell it for $2000 today with how the price of used cars are.
Having a quality comfortable living situation and being debt free is a privilege, and these fools just squander that and choose to live in debt and anxiety just to have a fancier method of travel. It's bizarre.
These videos are necessary on the Internet right now. I think most rational people can spot that these are scams, but it helps to explain why so hopefully some people can avoid losing their money or getting their identity stolen.
The funniest thing about the credit card industry, that tells you all you need to know about the business model... they refer to people who pay off their balance on time every month as "deadbeats".
For that payment they could get a beater for their daily commute and rent a F550 or an exotic sports car every weekend on Turo when they wanted to drive something nice. Instead they own a Tahoe lmao.
@@Jeez001 this is the regular reminder that cars like the 370z and miatas exist... why buy a 2 large trucks/SUVs, when cheaper, faster, better looking, and less gas exist for atleast 1 of those
That guy who's being open about his debts is teaching a real lesson. And the point about the stress of payments is true. Like, we have a car loan and a mortgage that are less than 30% of our after tax combined and we still hate it. Making extra payments when we can :/
yeah.. the stress is real, even when not acknowledged. i started going gray because i was stupid when i was younger and had 7 different loans that i would have to pay until im 39, im 30 now. Found a way out but was stuck under that shit for like 8 years.. Literally started going gray at 26. Shit's bad.
17:34 dude… what’s the point of having an Amex Platinum with an expensive annual fee but you’re carrying a balance on your card? It negates all the cash back/MR and benefits you get from your card. The total debt is insane
Yeah, if you’re talking about those amounts paying it out as wages is terrible. Set up a management company, pay out dividends, invest through the company, etc.
As someone who works in tax collection, FILE AND PAY YOUR TAXES. You will likely get away with it for a few years, but it will come back to bite you and when it does, it bites HARD. Plus, if you are a standard W2 worker, you will probably get a refund anyway. Be safe, do your taxes.
Isn't the most plausible explanation for going so long without trouble that he IS a standard W2 worker and his tax liability is already covered by his employer's withholding, thus the IRS never bothered to bust him?
@@Myerknas Thats quite possible. I handle state tax, not federal tax, so I'm not sure how the IRS handles it, but with state tax if you don't file, after a few years the state estimates what you owe WITHOUT taking into account tax withheld. If the IRS is the same way, then he's just plain lucky (and stupid)
11:14 on god, this dude saying it how it is, admitting that he knows it's fraud, and straight up telling the whole world he's going to prison for it is the most realistic financial advice in the whole video.
My jobs always take more out than they are supposed to. I get around $1000 back every year. I dont mind because its good to get a big chunk of money to put in savings@@donb2527
@@donb2527 Yes, and he likely had a bunch of deductions and tax credits that he was entitled to but never filed for. This was a likely a lower income dude, he likely was having deductions for taxes done by his employer without realizing it.
I'd like to note that if you're willing to work on the car yourself (which I am fully aware most people either don't want to, or straight up can't), a single month of those 1600$ could get you a decent (if not the most modern) car that'll do everything the new one does, if you go for two months you can even add in most of the gimmicks and nice to have things plus get it to drive (and feel if you know a good upholstery person) brand new
@@tiagobelo4965not sure where you're finding close to long-lasting "fixer-uppers" for $1600 without being a dealer's child, but the sentiment is true for basically everything. People pay to not have to become car mechanics so they can pursue their actual interests. It's a trade off
Turns out that banks really don't like it when you hand your credit lines over to people whom they've already shut down due to fraud or collections.. Crazy thing is that sometimes buying a tradeline won't do anything for your credit score. Some issuers don't report authorized users while some issuers only report from the time you're added to the account and won't report the payment history before that. The credit bureaus also have anti-abuse mechanisms that sometimes remove the AU card from the score if the authorized user isn't in the same household as the account holder.
So I added my fiance to my card, her credit acore went from 500s to 650. I then immediately added my brother who had zero credit history. He INSTANTLY hit 700 (I had 740 at the time). He went from not being able to get approved for anything to 12 years of credit history with no late payments. I dropped him like 1 month later and now his credit score is somehow higher than mine.
When you add someone to your card, they get the boost from your own credit history. However they are also at risk of wrecking yours. When you dropped your brother, what was left was whatever he got approved for with your boost. Since he has such a short history, it's not surprising it's still high, but that also means it'll very easily lower if he's not careful since he doesn't have a lot of room for error. Also, credit score alone doesn't get you what you want; it's just an indicator of how good you are with credit, and some companies will want to look at more then just the number and want to see a history of good credit. If he doesn't have that, which he doesn't now that you dropped him, they won't approve him.
I love how he improved on the: Step 1 "Do X", Step 2 "???", Step 3 "Profit" Plan by rationalizing away Step 1. That is sheer dedication to efficency. Truly the mindset of a billionaire.
i bought and financed mine (2016 Chevy Silverado HC) for $48K in 2017. Sold in 2023 for $40K. Domestic trucks definitely hold their value, but you are 100% right, a few things started to go and I even had a mechanic who came to look at it refused to buy it knowing that the transmission was on its last legs.
@@grege5074 But was yours a massive gas guzzler flex? I'm not super into trucks but I've heard the bigger, flashier ones aren't built to last and _certainly_ aren't built to be workhorses.
Found your channel by watching the 3 hour Blender Glock build you did. Man your account is a gold mind. This is the comedy I needed to stay out of depression!
Atrioc, I bought a 2016 Subaru for $16,999 less than a year ago. I didn’t have any credit history at the time, so my APR was about 14%. I was hoping to be able to refinance after making payments and building credit history. When I went to refinance with my bank, they told me the car was valued at $9,000 and I’d have to pay almost $5,000 out of pocket to cover the remaining balance of the loan to refinance (they offered a 9% APR, despite the fact that I have a 710 credit score and perfect payment history) Not as bad as the Tahoe couple… but the depreciation of car value is insane and deeply upsetting
That's awful. I would say subarus don't depreciate that much... Now I'm Swedish but we sold our 2012 subaru outback for about $12.000 last year, and it was in pretty rough shape... (My mom loved going off road in that thing.) I think the bank undervalued your car.
I am a financial advisor, and I recently had to delete tiktok because I kept seeing so much bad financial advice and scams that I could not take it anymore.
For me, it's any food & health advice (chemistry background), the amount of snake oil salesmen. Level of dump shit that people happily believe is baffling
It is at this point I want to remind you that Tik Tok's parent company is partially owned by the Chinese government. They have an active interest in pushing misinformation because it destabilizes the USA. Russia does the same thing according to Congressional reports on the subject. In the 2016 election, Russia funded both Black Lives Matter and All Lives Matter protests. Congress even found that the most popular social media pages for these groups often were managed from inside of Russia. This is why Tik Tok is a national security threat.
When I was in high school a kid took out a 10k loan and put it all into that one crypto called Luna or something. He called himself a gigachad until it crashed to less than a cent a week later and his parents had to bail him out. Funniest shit I’ve ever seen
15-year-old-boys: "I'd kind of like to own a house and have a family some day, can someone help me?" Alpha-male TikTok Geniuses: "That's stupid. To be a success you're going to want to buy 7 houses to rent out then you need to be getting at least 30 women pregnant a year to preserve your genes." Doing one video tutorial on Excel has got to be more useful than any of these business courses.
@@timtabutops4611 Before you get a paycheck from your employer, they can withhold money for taxes. In my hypothetical situation, I am making the assumption he 'thinks' he isn't paying taxes because he's just not filling at the end of the year. In reality he is still paying taxes and just isn't doing the paper work at the end of the year to see if he owes more or gets a refund.
Hi. Im a former case manager for the IRS. The fact that he hasn't been audited is almost 100% because he has his withholding set to 0 dependents. For simple math, assuming single and 50k a year he is basically giving 1200 dollars to the the govt every year. We dont audit those people since their are people who actually pay nothing and they get highly prioritized.
Was watching my local MLB teams broadcast, before the game they have a betting segment built a three leg parlay showed every individual odds and the total odds, then verbatim said “if you bet $100 today you’ll win $256” like people just have a spare $100 lying around (also the bet did not hit)
sure cought whales could even make that guaranteed bet profitable for the gambling provider if you could cash it out directly. but damn... people are stupid.
Growing up during the 2008 housing crisis has made me way too paranoid to be taking on debt before I own a home that’s probably insured outright. I’m not even learning t drive until I’m sure I can buy a care outright
People underestimate the amount of work and money that goes into renting out a single family home and overestimate the amount of passive income it generates. I bought a townhouse and then later in life inherited a single family home. After maintenance, modernization, and taxes, I’ve averaged $12k per year in profit over the last 5 years. Not something to scoff at, but also not exactly a money printer.
Yea that trade line risk is crazy... if the other side manages to get a copy of the CC sent to them, what are you gonna do call the bank and claim fraud? They're an authorized user! You're on the hook and the bank will def cancel your cc.
Do I want to learn international business from a guy who learned from an international business teacher who never travelled internationally, but actually that guy didn't even finish that program anyway? Sounds foolproof.
For some reason I felt the need to clarify at 9:20. If the person was being paid by an employer who was sending his information to the IRS, then the employer would have been automatically withdrawing his taxes from his paycheck (like every normal employer does). So it's very likely he has been paying taxes, and could be owed money if he ever over paid. Unless he is self employed or getting paid cash.
It would be funny if he could have gotten $25000 back. I get around $1000 back every year. Some of these people act like they are millionaires when they're not. Thats why they vote for Trump.
Dude the amount of times I have heard “YO DOGE COIN IS GOING TO THE MOON MAN” followed a few months later by “WHY DID I INVEST IN DOGE COIN!? NOOOO” since I was 13 back when it first launched is fucking ridiculous.
@shubamrachappanavar2708 Investing in literally anything is basically gambling, don’t get it twisted, but there are things you can invest in that are MUCH safer bets than other things. Doge Coin is NOT one of those things. Doge coin has always been a meme with no intent on it ever being an actual investment platform, but people are stupid and see a crypto currency with a dog and go “Yeah, I want to risk my life’s savings on *that* “
I learned something today. That I am doing pretty well for myself even if I make way less working at Walmart as a cart pusher. I’m content. Also, I didn’t realize Home Depot had a credit card. lol. Learn something new every day.
17:10 Dude is $67k in credit card debt and owes $13k on a car!!! Get your priorities right ffs. Edit: Dude is paying nearly $1k a year for a gym membership?!!?!
The option profit did work for me but you need allot of cash. I bought 200 apple shares when it dipped to 132 and when it recovered I kept selling month long CALL options at 10% above current value made about 500 - 600 a month. When the stock jumped I also made a profit. So 550/26400 that's about 2% a month. Helped me get my first house.
There is no free money in options. They are priced in a way that makes it about break-even in terms of profitability. You either buy and have a high chance of losing everything but a small chance to make bank or you sell with a high chance of winning some money and a small one of getting burned. If you sell a 10% OTM call and the stock rallies by 18%, you actually lost 8% of potential growth and, since most of the growth of the stock market is during a few unpredictable days where the stock rallies a lot, you're most likely to be better by just holding. It works for some people the same way blackjack may "work", the odds are so close to 50/50 that it's not rare to find people for whom that went well over a small period of time. Also, I don't know when you bought but the last time the price was around 132 was june 13th 2022 and exactly a month later, the price went up by about 13%, which means that you would've been burned month 1. Same thing happened in january 2023 when it dipped down to 130, but then grew 18% up to 154 in february. Getting 2% a month in covered call strategies either mean that IV is high or that your strike price is too low, in either cases, you're likely to get burned after any amount of relevant time.
I love that when you mentioned the PPP loans and you were like "people did a lot worse", and at first i was like. Ye all the banks and like consulting firms who tell manager to raise manager salaries so they get positive feedback from said managers. lmao. But then when you also mentioned that you meant even in terms of PPP i was like "Oh ye that was a thing aswell xD"
Truck payments takes the cake!!! Got two underwater truck loans, with a baby babbling behind her; "Oh, BTW, were pregnant???" My parents owned a Ford Pinto, and a rusting Chevy 1/4 ton at their age...
![How to Get a Developer Job - Even in This Economy [Full Course]](/img/1.gif)
These guys always stand next to the cars, or have them in the background. But they're never actually in the car
😂
To be fair the guy at 14:19 actually drives the R8 he’s standing next to, I haven’t seen the registration though so I don’t know for sure if it’s his dad’s or his
@@atriocI never allowed you to laugh
You can just short time rent luxury cars for a drive or photo shoot slash video
@TheRealCatof And real entrepreneurs aren't selling BS courses or boasting about their success, they're too busy running businesses.
bro spends his last $7.5k but still has money to get a big ass tattoo
he probably spent it on the tattoos and is just tryna recoup
That fake tan ain’t cheap either
Definitely a 400$ tattoo unless he's dumb.
let me tell you. I have known this guy for many years. Before he was a scam artist. There was never a 7500$ loan. He finished dead last in a bodybuilding show and went to bali to get tattoos. Now that he scams people for a living, he tried to get involved with some gangs, they shot his "co worker" in the head, shot up his car and he moved to Bali. He was never rich. His car and AirBnb were put under a business credit for a business that he did not own, he was the bottom guy for a forex scam, he was literally just the face for a lot of these scams. The moment he got publicly exposed, he blocked everyone he grew up around, fabricated this wild story and moved. Now he lives in Bali of the money he makes scamming people with his "business partners". Until they eventually run into the wrong gangs over there too.
yeah, noticed at the first second his story has too many plotholes, someone should sell him a course for that.
"this car payment might look bad at first, but compared to this other one I just took on it looks GREAT"
I’m just hhhhhhhh
Walking up to a stranger and mugging them would be less detrimental to their financial situation than listening to TikTok advice.
You just gotta hope they're one of the few people carrying cash these days, because cards get cancelled in minutes.
@ronarnold1507 Nowadays they mostly want your phone so they can sell it
Getting mugged would be less detrimental to their financial situation lol
In the first example, you might even come out of it financially positive!
The car lady has to be satire. I choose to not believe that someone is that insane to have 3 high interest car loans
nah I know so many people who sign for loans just looking at the monthly while ignoring how much money they lose on interest. As long as they can pay the monthly, they don't care
@@-Sai but they can't lmao, she literally talks about allowing one of the cars to get repossessed. Just a galaxy brained family
@@snart2195 buying one of those big ass trucks (unless you use it for work) is the dumbest thing you can do. Cause they cost so much and need so much gas, but I see so many dudes who didn't need it with them.
@@-Saieven if you need a truck for work, those trucks have tiny truck beds and the beds are way to high for practicality. People who actually use trucks for work, use smaller but actually practical trucks usually.
@@darkithnamgedrf9495 Then how will I let everyone know I have a small penis?
shout out to the owner of the restaurant i managed during covid laying off all his employees that worked for him 25 years + and instead wrote weekly paychecks for him and his wife equating to exactly his ppp loan
jesus
Report his ass
If this is true, unironically file a tip/fraud report with the SBA. Under the False Claims Act you could get 15-30% of the recovered funds if the government determines there was indeed fraud and wins a lawsuit. Plus, you take down a scumbag.
Can you actually try to report this or something. They gotta learn and I heard the government is cracking down a bit more on these.
@@preethamrndoing so would put many of my past co workers out of work. Many of them didnt have green cards, and that job meant survival. He did hire them all back when we reopened, and a lot still work there. He is the biggest POS i’ve ever met, but those are good people.
I wheezed at "Since I'm already going to jail, it's time to tell my side of the story".
I had a handyman who never filed taxes, dealt in cash, etc. because he doesn't believe in socialism. When we got to talking about retirement he was banking exclusively on social security. The hypocrisy was wild, but when I explained he won't get SSI because he never filed taxes he felt it. His world crumbled at 58.
A tradesman being against socialism is wild
Am I petty for being happy after reading this story? Like this man will not be able to retire, it's sad ... But I'm so happy 😅
@@brianarc2can’t blame you, the fact a person thought that taxes=socialism, something that every type of government system does, directly or indirectly is that is just, mind boggling.
Oh my fucking god
Well, if he has worked for someone else that withheld SS tax for at least 11 years in his life, he will get at least the minimum benefit, which could be as low as like $50 per month, and maxes out at a little over $1k at full retirement age!
$67k debt guy filed bankruptcy in March. Good news as it was up $10k in 3 months.
aw :(
Honestly that's the smartest thing he could do. He was 67k in debt and wasn't working.
I started doing mundane shit like making my bed, woke up with a billion in my bank account. You guys just dont want to hustle
Frfr, on that manifestation grind.
I just clean' up my room and next thing I knew a golden lobsters challenged me to a fight and I won using the shadow of my monster. That really heighten my conscientiousness
@@DsiakMondala Freedom is calling for all men who bend their will.
Man your parents must be big on the allowance for completed chores. Wish Mine had did that growing up
You missed out on the sterioids!
Take your kidney to a casino, bet it on black and win. Now you have two kidneys to do business with in international business.
Why would u do business with international business when u can go international and learn business?
If you don't make 100k kidneys a month, what are you even doing with your life?
Now, take those kidneys, go international, do business. Now you’re a winner for real.
I hate these Tik Tok Real Estate investors because you can tell 100% that they don't understand Real Estate investing. Rent not paying for all of the housing expenses is normal in Real Estate investing. The idea that you can get 100% of everything covered is a new concept. Historically, Real Estate investing was a long term game where you lose money at first and after 10 years start to see cash flow plus the appreciation. Housing on average has only gone up like 3-4% a year over the last 90 years. The real money in Real Estate came from long term holding as the leverage is stable and cheap and eventually the asset mixed with rent increases out pace the cost of the mortgage. This is usually a 10 year process to actual profitability.
Meanwhile, the stock market has gone up 8-10% a year on average. For this reason, housing should never be your first investment unless you are buying it to live in. The idea of housing as a short term investment is a concept that began in the 2000s, died in 2008, then came back in 2017 after there became a shortage of housing inventory.
I think a lot of real estate "investors" have been popping up recently cause in a lot of countries there is a huge real estate bubble. In countries like Canada, Australia, New Zealand, etc. Houses in the last 10-15 years have doubled, even tripled in some cases. So you could gains at almost the rate of the stock market but investing in housing is also seen as more "safe".
"last 90 years" is very conveinently missing a regularly occurring event.
And even without a worldwide depression, urban prices are due to crash as work-from-work disappears.
Straight yapping
Yeah it's heavily dependent on a lot of factors. I bought my townhouse in 2013(?) for 180k. It's worth 600k now. I was going to buy another this year, so I looked around. It's pretty bad. Me renting out that first property would not cover the costs at all. It would take 7 years to break even, and 10 to get some real cash flow like you said. A lot of places are even bumping up their HOA. One place I saw, they raised the HOA by 300 up to 1k per month. That's stupid. In comparison, I can just put my money into stocks and have more flexibility.
There is no shortage on housing industry
14% APR on a depreciating asset that is a car? That is craziest thing I heard.
I made that mistake, paying 29% APR a few years ago. Luckily it was only second hand and not very expensive. Won't be doing that again.
Yea only rare models actually appreciate and it sure as hell isnt s truck or suv usually sports cars only and a very rare version or limited run of that model.
Why? A car is not expected to increase in value, a car is not an investment. A car is an expense.
That 14 percent APR is simply part of that expense. Is it too high? Yes, but it is often necessary for folks with poor credit who need a vehicle for their travel requirements.
That 14 percent is far from the craziest thing ever heard. Try someone with deep subprime credit for something really crazy. Or a payday loan.
That 14 percent shows the reason a person's credit score is so important.
In the end, the important consideration is whether that total expense fits within the person's budget and financial goals.
@@R3tr0v1ru5
A 29% APR loan should be illegal. That is worse than if you put the car on a credit card.
I had a friend with very menial credit history and poor scores upgrade his car. It was very much needed, his 1999 GMC Sierra was on its last legs and he got a modest Kia Soul. Poor bastard got taken for a ride, he financed $20k at 12% APR; he literally signed up to pay $30k for a $20k car
”See you in 3-6 years”
How is he so nonchalant 💀
I wonder how much money he could have made working minimum wage in those 3-6 years
You gotta realize there's a personality type that just doesn't care about prison they are in and out their whole lives its like home to them and when they're not in prison they're just doing illegal stuff for money and balling out.
@@leonardooriano579420k in debt probably. Saving with minimum wage in THiS ECoNOMY?
Some people just ride the wave that is life and don’t care too deeply about things like that, prison is just another experience to have, or he’s just being funny and the story is fake 😂
I went to high school with him - he was genuinely one of the funniest dudes and everyone loved him. Idk if he actually did all of the PPE fraud stuff but I’m hoping he’s good 😂😂😂😂
I had a car payment of 350$ dollars a month when I first started working and because rent and the car payment were due the same day, I was legit stressed to make sure there was enough in my account to cover both going out. Eventually my finances got better, but after my car got totaled and I used the insurance money to get a replacement and immediately paid it off even if it meant eating into my savings. No regrets, it feels so good to not have that debt in my mind.
How anybody takes on massive loans with huge monthly payments just to flex baffles me.
Peoples minds are so warped they think anyone actually cares what car you drive or what house you live
Unless you’re successful (and most people are just average) we can all see how dumb you are for going into debt you didn’t need to
I'm about to hit 10 years on my current car. Paid off, runs great, looks great. Every time I'm tempted to get the latest model, I remember how nice it is to not have debt. That's the way to live.
my car is a piece of crap that i got for 2k but oh my god it's so much nicer to have than worrying about 400 a month in payments
I have a 99 Pontiac Sunfire that I drive to work everyday. I bought that car in 2010 for $2000.
Very easy to fix and parts are cheap. It has 370,000km on it and still runs fine.
The sad thing is, I could probably sell it for $2000 today with how the price of used cars are.
Having a quality comfortable living situation and being debt free is a privilege, and these fools just squander that and choose to live in debt and anxiety just to have a fancier method of travel. It's bizarre.
There is something about how people on TikTok look and behave that is so inherently repulsive to my being.
The “beauty” filter all of them use was looking real uncanny valley in this video
I think it’s just an insight into the average persons life and you realize how stupid these people are and just don’t act normal lmao
Your brain is rejecting the filters
Maybe that dude used Klarna for his tattoo. Smart move. In the buisiness we call those investments
These videos are necessary on the Internet right now. I think most rational people can spot that these are scams, but it helps to explain why so hopefully some people can avoid losing their money or getting their identity stolen.
"It's been real and i will see you all in three to six years" is one hell of a way to end a story
The funniest thing about the credit card industry, that tells you all you need to know about the business model... they refer to people who pay off their balance on time every month as "deadbeats".
3k a month on vehicles is wild. I know dudes raking in 300k a year paying less on their service trucks that actually get used for work lmao
My wife and I cleared 480k last year. 0 monthly payments on our cars lol and I drive a crappy 2011 Ford fusion
140k on vehicles and having a Tahoe and gmc is hysterical.
For that payment they could get a beater for their daily commute and rent a F550 or an exotic sports car every weekend on Turo when they wanted to drive something nice. Instead they own a Tahoe lmao.
That entire video felt like some kind of mixture of misinformed humble-bragging and relationship troubles
That’s the funniest thing to me about these 60-80k cars but they’re just like normal cars.
I’d get like a sports car with that amount lmao
Imagine trying to flex with those cars when someone pulls up in lexus or Acura that’s much cheaper than either of those.
@@Jeez001 this is the regular reminder that cars like the 370z and miatas exist... why buy a 2 large trucks/SUVs, when cheaper, faster, better looking, and less gas exist for atleast 1 of those
That guy who's being open about his debts is teaching a real lesson.
And the point about the stress of payments is true. Like, we have a car loan and a mortgage that are less than 30% of our after tax combined and we still hate it. Making extra payments when we can :/
yeah.. the stress is real, even when not acknowledged. i started going gray because i was stupid when i was younger and had 7 different loans that i would have to pay until im 39, im 30 now. Found a way out but was stuck under that shit for like 8 years.. Literally started going gray at 26. Shit's bad.
1:28 Thats just the upgrade system of Far Cry 3.
17:34 dude… what’s the point of having an Amex Platinum with an expensive annual fee but you’re carrying a balance on your card? It negates all the cash back/MR and benefits you get from your card. The total debt is insane
He probably started out with that aim but his spending habits destroyed him.
I remember watching Uncut Gems when it came out and being like holy shit this is crazy. but recently it's felt like people just live like that now.
15:49 as a loan officer, the highest monthly income I’ve seen was $50k a month and that was from a HEART SURGEON!
Yeah, if you’re talking about those amounts paying it out as wages is terrible. Set up a management company, pay out dividends, invest through the company, etc.
As someone who works in tax collection, FILE AND PAY YOUR TAXES. You will likely get away with it for a few years, but it will come back to bite you and when it does, it bites HARD. Plus, if you are a standard W2 worker, you will probably get a refund anyway. Be safe, do your taxes.
Isn't the most plausible explanation for going so long without trouble that he IS a standard W2 worker and his tax liability is already covered by his employer's withholding, thus the IRS never bothered to bust him?
@@Myerknas Thats quite possible. I handle state tax, not federal tax, so I'm not sure how the IRS handles it, but with state tax if you don't file, after a few years the state estimates what you owe WITHOUT taking into account tax withheld. If the IRS is the same way, then he's just plain lucky (and stupid)
@@thecubist3817 after a few years unclaimed tax returns go to the treasury, so odds are IRS saw him as free money since he never claimed the returns
"Smarter and confused" is what all the cool kids are these days.
11:14 on god, this dude saying it how it is, admitting that he knows it's fraud, and straight up telling the whole world he's going to prison for it is the most realistic financial advice in the whole video.
The guy who never files taxes probably would have gotten a refund every year, which is why the IRS never bothered to call him...
this
You only get a refund if you pay more taxes than you’re supposed to, it’s scary and weird how little people know about how taxes work…
Hes paying taxes whether he is aware of it or not if he has a job, benefits and buys anything
My jobs always take more out than they are supposed to. I get around $1000 back every year. I dont mind because its good to get a big chunk of money to put in savings@@donb2527
@@donb2527
Yes, and he likely had a bunch of deductions and tax credits that he was entitled to but never filed for. This was a likely a lower income dude, he likely was having deductions for taxes done by his employer without realizing it.
Bro spends all his money then buys a tattoo. the math ain't mathing
I would rather die than have a $1600 car payment. I have a $600 payment that I'm comfortably able to pay and it still stresses me out a lot
I'd like to note that if you're willing to work on the car yourself (which I am fully aware most people either don't want to, or straight up can't), a single month of those 1600$ could get you a decent (if not the most modern) car that'll do everything the new one does, if you go for two months you can even add in most of the gimmicks and nice to have things plus get it to drive (and feel if you know a good upholstery person) brand new
@@tiagobelo4965not sure where you're finding close to long-lasting "fixer-uppers" for $1600 without being a dealer's child, but the sentiment is true for basically everything. People pay to not have to become car mechanics so they can pursue their actual interests. It's a trade off
I make about 1800€ a month, 1600 bucks would be murder. (Dont worry, I live in Finland 1800 goes a long way)
@@taturajala830 if that's 1800 after taxes, that's pretty good even if it's in a capital/major city
I don't understand how your payments are just so inflated. Most car payments in the UK are £250-350 a month which is like $500-600 a month at best.
Turns out that banks really don't like it when you hand your credit lines over to people whom they've already shut down due to fraud or collections..
Crazy thing is that sometimes buying a tradeline won't do anything for your credit score. Some issuers don't report authorized users while some issuers only report from the time you're added to the account and won't report the payment history before that. The credit bureaus also have anti-abuse mechanisms that sometimes remove the AU card from the score if the authorized user isn't in the same household as the account holder.
The funny thing about the trade lines gal is that a large number of mortgage lenders ignore AU account history exactly for this reason
So I added my fiance to my card, her credit acore went from 500s to 650. I then immediately added my brother who had zero credit history. He INSTANTLY hit 700 (I had 740 at the time). He went from not being able to get approved for anything to 12 years of credit history with no late payments. I dropped him like 1 month later and now his credit score is somehow higher than mine.
When you add someone to your card, they get the boost from your own credit history. However they are also at risk of wrecking yours. When you dropped your brother, what was left was whatever he got approved for with your boost. Since he has such a short history, it's not surprising it's still high, but that also means it'll very easily lower if he's not careful since he doesn't have a lot of room for error. Also, credit score alone doesn't get you what you want; it's just an indicator of how good you are with credit, and some companies will want to look at more then just the number and want to see a history of good credit. If he doesn't have that, which he doesn't now that you dropped him, they won't approve him.
I love how he improved on the:
Step 1 "Do X", Step 2 "???", Step 3 "Profit"
Plan by rationalizing away Step 1. That is sheer dedication to efficency. Truly the mindset of a billionaire.
$78k for a SINGLE TRUCK that will probably break down in like 5-10 years is CRAZY
i bought and financed mine (2016 Chevy Silverado HC) for $48K in 2017. Sold in 2023 for $40K. Domestic trucks definitely hold their value, but you are 100% right, a few things started to go and I even had a mechanic who came to look at it refused to buy it knowing that the transmission was on its last legs.
@@grege5074
But was yours a massive gas guzzler flex? I'm not super into trucks but I've heard the bigger, flashier ones aren't built to last and _certainly_ aren't built to be workhorses.
Found your channel by watching the 3 hour Blender Glock build you did. Man your account is a gold mind. This is the comedy I needed to stay out of depression!
Atrioc, I bought a 2016 Subaru for $16,999 less than a year ago. I didn’t have any credit history at the time, so my APR was about 14%. I was hoping to be able to refinance after making payments and building credit history. When I went to refinance with my bank, they told me the car was valued at $9,000 and I’d have to pay almost $5,000 out of pocket to cover the remaining balance of the loan to refinance (they offered a 9% APR, despite the fact that I have a 710 credit score and perfect payment history) Not as bad as the Tahoe couple… but the depreciation of car value is insane and deeply upsetting
That's awful. I would say subarus don't depreciate that much... Now I'm Swedish but we sold our 2012 subaru outback for about $12.000 last year, and it was in pretty rough shape... (My mom loved going off road in that thing.) I think the bank undervalued your car.
Bro please commit insurance fraud to get yourself out of that loan
I am a financial advisor, and I recently had to delete tiktok because I kept seeing so much bad financial advice and scams that I could not take it anymore.
For me, it's any food & health advice (chemistry background), the amount of snake oil salesmen. Level of dump shit that people happily believe is baffling
It is at this point I want to remind you that Tik Tok's parent company is partially owned by the Chinese government. They have an active interest in pushing misinformation because it destabilizes the USA. Russia does the same thing according to Congressional reports on the subject. In the 2016 election, Russia funded both Black Lives Matter and All Lives Matter protests. Congress even found that the most popular social media pages for these groups often were managed from inside of Russia. This is why Tik Tok is a national security threat.
2 billion views in 7 seconds, we are so back
Actually made me laugh. Good job king.
@@TheMOReviewers :3
This video in one word “fraud”
16:02 bro it kills me when its so intense and then tiktok completely swaps the mood with the "boodloomp" sound when its over 🤣
When I was in high school a kid took out a 10k loan and put it all into that one crypto called Luna or something. He called himself a gigachad until it crashed to less than a cent a week later and his parents had to bail him out. Funniest shit I’ve ever seen
15-year-old-boys: "I'd kind of like to own a house and have a family some day, can someone help me?"
Alpha-male TikTok Geniuses: "That's stupid. To be a success you're going to want to buy 7 houses to rent out then you need to be getting at least 30 women pregnant a year to preserve your genes."
Doing one video tutorial on Excel has got to be more useful than any of these business courses.
Wait, they might be cooking though. If you make more kids, you're increasing future housing demand, and therefore increasing the housing investment.
you can also claim them as dependents on your taxes. sigma strat
@@stereo-soulsoundsystem5070 For fellow old guys like me, this is known as the Shawn Kemp Strategy.
@@zunuf
The word “courses” is doing some extremely heavy lifting in that sentence…
@@boop It's called long term investing. Most people don't know about it 🥱🥱🥱🥱
The lady: "I don't even know how to sell at the black market"
The black market after seeing her video: "allow us to introduce ourselves"
8:50 Imagine if this guy has been withholding more money then he would owe in taxes and is instead losing out on thousands in tax returns 🤣🤣🤣
He's never paid taxes. There is no amount greater from a tax return than what he has been withholding. Do you get how tax returns work?
@@timtabutops4611 Before you get a paycheck from your employer, they can withhold money for taxes. In my hypothetical situation, I am making the assumption he 'thinks' he isn't paying taxes because he's just not filling at the end of the year. In reality he is still paying taxes and just isn't doing the paper work at the end of the year to see if he owes more or gets a refund.
@@TopOfLobbyhe probably has a job that pays cash , or he put himself as tax exempt on his w4
@@timtabutops4611 He's probably never FILED taxes, and assumes that means the same thing.
Hi. Im a former case manager for the IRS. The fact that he hasn't been audited is almost 100% because he has his withholding set to 0 dependents. For simple math, assuming single and 50k a year he is basically giving 1200 dollars to the the govt every year. We dont audit those people since their are people who actually pay nothing and they get highly prioritized.
As someone who doesn't use tiktok, I am still no richer than anyone who does
That's because you need to buy my Instagram course for 30k. I guarantee you'll double that in the first week.
This is it. The top of the internet idiocy spike. I am terrified and laughing at the same time, its really scary
18:00 at least that guy is keeping track and STRESSING about it.
Not calling it an entrepreneurial enterprise
I suddenly feel really good about my own financial situation
That truck story had the crazy turn of events I've ever experienced. It was like watching Maury show with cars.
Huh?
Was watching my local MLB teams broadcast, before the game they have a betting segment built a three leg parlay showed every individual odds and the total odds, then verbatim said “if you bet $100 today you’ll win $256” like people just have a spare $100 lying around (also the bet did not hit)
sure cought whales could even make that guaranteed bet profitable for the gambling provider if you could cash it out directly. but damn... people are stupid.
the whimsical goofy music playing from the kid's ipad in the background really sets the mood for this tiktok 4:24
I studied international business until I decided to fill my international business with international business from business.
Growing up during the 2008 housing crisis has made me way too paranoid to be taking on debt before I own a home that’s probably insured outright. I’m not even learning t drive until I’m sure I can buy a care outright
I get anxious just watching some of these clips...
im glad the guy in the enron hat is teaching us about finances
And don’t forget the Lehman Bros shirt
People underestimate the amount of work and money that goes into renting out a single family home and overestimate the amount of passive income it generates.
I bought a townhouse and then later in life inherited a single family home. After maintenance, modernization, and taxes, I’ve averaged $12k per year in profit over the last 5 years. Not something to scoff at, but also not exactly a money printer.
Yea that trade line risk is crazy... if the other side manages to get a copy of the CC sent to them, what are you gonna do call the bank and claim fraud? They're an authorized user! You're on the hook and the bank will def cancel your cc.
16:16 charging air orbs obviously
🦀 JAGEX DOESN'T DO MUNDANE SHIT DAILY 🦀
LMAO
Bro needs to get sent back to lumbridge
the Enron hat is a nice touch
Do I want to learn international business from a guy who learned from an international business teacher who never travelled internationally, but actually that guy didn't even finish that program anyway? Sounds foolproof.
For some reason I felt the need to clarify at 9:20. If the person was being paid by an employer who was sending his information to the IRS, then the employer would have been automatically withdrawing his taxes from his paycheck (like every normal employer does). So it's very likely he has been paying taxes, and could be owed money if he ever over paid. Unless he is self employed or getting paid cash.
It would be funny if he could have gotten $25000 back. I get around $1000 back every year.
Some of these people act like they are millionaires when they're not. Thats why they vote for Trump.
I would be first in line for the "Spare Kidney? who needs it: How my spare organs set me up for life" book by the Glizztrioc
your laughter is so infectious man
That lady is co-signing loans for strangers? WHAT?
Dude the amount of times I have heard “YO DOGE COIN IS GOING TO THE MOON MAN” followed a few months later by “WHY DID I INVEST IN DOGE COIN!? NOOOO” since I was 13 back when it first launched is fucking ridiculous.
@shubamrachappanavar2708 Investing in literally anything is basically gambling, don’t get it twisted, but there are things you can invest in that are MUCH safer bets than other things. Doge Coin is NOT one of those things. Doge coin has always been a meme with no intent on it ever being an actual investment platform, but people are stupid and see a crypto currency with a dog and go “Yeah, I want to risk my life’s savings on *that* “
The dude @19:00 man, just declare bankruptcy. What the hell
I learned something today. That I am doing pretty well for myself even if I make way less working at Walmart as a cart pusher. I’m content.
Also, I didn’t realize Home Depot had a credit card. lol. Learn something new every day.
At 67k in debt just go declare bankruptcy
Bought SHIB when there were seven zero's in the price. Sold it when there was four 0's in the price and bought a new PC lmao
So it went from 0.000000 to 0.000
@@ILoveTinfoilHats Going from 0.0000001 to 0.0001 Is a 1000% increase. I put ten bucks into it on Coinbase. You do the math.
the guy at 16:00 is a car sales motivator/consultant for car dealerships
4:30 if u squint ur ears you can hear then next great hedge fund manager being raised by an iPad in the background
4:45 how embarassing.
14% means you have no business buying that truck.
atrioc never fails to financially advise us
fact checked this: false information
I thought the pfp was 69 faces 😂
19:29 THAT GIRL WENT TO MY SCHOOL AND WAS IN MY DECA CLUB😂😂😂
putting it to use i suppose 😭😭🙌🏾
Been waiting so long for another TikTok financial advice video
17:10 Dude is $67k in credit card debt and owes $13k on a car!!! Get your priorities right ffs. Edit: Dude is paying nearly $1k a year for a gym membership?!!?!
The option profit did work for me but you need allot of cash.
I bought 200 apple shares when it dipped to 132 and when it recovered I kept selling month long CALL options at 10% above current value made about 500 - 600 a month. When the stock jumped I also made a profit. So 550/26400 that's about 2% a month. Helped me get my first house.
There is no free money in options. They are priced in a way that makes it about break-even in terms of profitability. You either buy and have a high chance of losing everything but a small chance to make bank or you sell with a high chance of winning some money and a small one of getting burned. If you sell a 10% OTM call and the stock rallies by 18%, you actually lost 8% of potential growth and, since most of the growth of the stock market is during a few unpredictable days where the stock rallies a lot, you're most likely to be better by just holding. It works for some people the same way blackjack may "work", the odds are so close to 50/50 that it's not rare to find people for whom that went well over a small period of time.
Also, I don't know when you bought but the last time the price was around 132 was june 13th 2022 and exactly a month later, the price went up by about 13%, which means that you would've been burned month 1. Same thing happened in january 2023 when it dipped down to 130, but then grew 18% up to 154 in february. Getting 2% a month in covered call strategies either mean that IV is high or that your strike price is too low, in either cases, you're likely to get burned after any amount of relevant time.
People with 100k in debt doing everything possible to stay in debt and drown vs talking to a bankruptcy attorney...
The lady with the car payments blew my mind, that's literally about what I make a month and they're paying that for 2 cars. Wild
The bitcoin guy if he hasn't sold is now worth $87,556.03
*Here’s a wacky tip to raise your credit score!*
*Pay your damn bills.*
*Paying off bills is bad for your credit, still.*
*Of course, criticizing Semites dings your credit score too.*
On time, once a month, in full!
@@Code7UnltdI assure you letting your bills go to collections is far worse for your credit then paying them.
@@Code7Unltd Yeah, the homeless have the best credit scores - no loans, no bills
Kodak being the most reasonable example had me dying 🤣 😂 😭
a house does not go up over time
when you buy at the peak of the market, which is right now
Not where I live, I am just about to sell and I won't make back what I bought it for. The market took a deep plunge a year ago
@@CainXVIIThat has not hit everywhere yet, but it's coming.
2:39 funny thing is, bitcoin did hit 80k 😂
One year of high school level work for 40K seems like a pretty good deal to me.
I love that when you mentioned the PPP loans and you were like "people did a lot worse", and at first i was like. Ye all the banks and like consulting firms who tell manager to raise manager salaries so they get positive feedback from said managers. lmao. But then when you also mentioned that you meant even in terms of PPP i was like "Oh ye that was a thing aswell xD"
We had mad fraud with our covid payments in Australia also
They’ve given up entirely on sounding reasonable and are just throwing stuff at the wall
Truck payments takes the cake!!! Got two underwater truck loans, with a baby babbling behind her; "Oh, BTW, were pregnant???" My parents owned a Ford Pinto, and a rusting Chevy 1/4 ton at their age...
Well bitcoin did hit 81k last night but still absolutely insane to take a loan on that bet
This video made me feel like Steve Carrel in The Big Short when he's talking to the two sub prime mortgage salesmen
16:06 Steroids and tight pants are a tragic combination
Really respect Tiktok for trying to make the Onion's money hole sketch into a reality
greatness comes not from one single thing but from thousands of little things done perfectly
22:55 - this guy 100% has way more shitcoins that got all dumped but he has then sorted in a way that the best ones are on top.
That truck loan costs 38k in interest. 😂