If your want to stay in one place for over 7 yrs, and dont want the rules that come with rentals, and want to be able to grow your own food and have benifits of a house, then a cheap house could be a cheaper option in about 7 yrs or less compared to renting. Depends on the costs of house vs renting, houses r different prices, rents r different prices.
This is his pitch, don’t buy a home, rent instead and buy real estate, but don’t deal with the headache of buying and managing real estate, send me the money and I’ll do it for you. It’s a good pitch, just not the most honest.
@@Heartless-oi3sp move out of cali then, Or maybe u can find somewhere in a moral rural area where u could get some land and put a very small cheap house on it which is like a basic survival camper or house like under 10x10 foot big which u could try building partly yourself from used materials like from construction sites..., like opportunity village in Oregon.
lmao.. until they fall behind on their mortgage.. or taxes. or the insurance goes crazy.. or there is a flood.. or hurricane.. or the roof needs replacement.. or the neighborhood changes for the worse.. or hoa fees go crazy...
@@joellexaverie9703 there's a lot of money to be made by helping people be fiscally responsible.. but There is a LOT more money to be made by helping people spend outside their means. The vast majority spend way more than they have. Debt has never been higher in the history of America as it is now. Let's deal with reality. Not what we wish things would be.... if you bought your home over 5 years it may have been a good deal. If you bought post pandemicor are buying now it may be the worst investment you ever made.. Im in the market.. I almost bought last year. I bought nvda instead.. not buying a house was a great decision.
Buying a house is also a hedge against inflation. Rents go up. Fixed rate mortgages do not. When you pay rent you pay somebody else’s property taxes, maintenance, etc in perpetuity.
I can’t afford a home in LA where I live. Although I do own 2 houses in the Midwest that I rent out. I rent a modest apartment and drive a KIA. If I lived in a cheap market I’d buy. But I don’t and I don’t want to live in the Midwest.
Yeah, pretty sure if you have a $576k house you probably aren’t needing to spend $5.76k in “maintenance fees” every single year. There will be bad years where something major breaks like the A/C or you need to replace the roof, but it shouldn’t average out to 10% over 10 years unless its a cheaper, older home at that stage in its life where everything is needing to be replaced.
@@bopcentral7425 homes are like stocks they go up in value over time. Even if a crash occurs don’t sell because the value will recover. My father makes 60k a month in real estate. I have condos at 21 years old and they are slowly going up in value. My guy you are dumb as rocks if you think houses and condos are a bad investment.
@@bopcentral7425 Let’s say you brought a 50k condo in 2019. That same condo would be worth $200k now. Houses too. Let’s say you bought a house for 500k in 2003. That same house would be around $1 million now. My father brings in 60k a month due to real estate. Real estate, gold, and Bitcoin are the best investments.
Don’t fall dor this fellas. Owning your own home is your protection against inflation in a long term. Rent will always go up and money will always value less, but your mortgage stays the same ! Through the time you will pay less because money will worth less.
I really think owning a home is beneficial or not depending on your bank account your cash flow and your investment knowledge if you have enough money for a house but you dont have knowledge on how to transform that money into more money and you have no cash flow and you need a house then i guess thats when is a good idea investing in a home
It's not that simple. At current rates it costs way more for a mortgage than renting, not to mention other costs of homeownership like maintenance and property taxes. How am I beating inflation by spending an extra 2k a month and building very little equity?
And when everything else goes up so does your property taxes, maintenance fees to fix home, upgrades, etc. No one escapes inflation. We all pay one way or another.
I bought my house in 2012 cash, it was a foreclosure. Now it's worth 10× what I paid for it, and I don't pay a mortgage. Best investment I've ever made 🥰
I jumped here to say we bought a house in 2011 and it's now worth 220 percent more. So not quite sure how that's a bad investment. Also not living in a box was kind of nice...
He's following Robert Kiyasoki's approach to owning a home. You don't "marry" it to take care of it, you "pimp" it to make $$$! Your home pays you nothing but may cost you other investments that can help you pay for the house!
@@giveme10feetthat's because they don't have a normal job. Theyre real estate "investors". The rest of us who have alternate income can benefit a lot from the tax deductions we get from getting a mortgage on primary residence. As well as the benefits of being in nicer areas with decent schools were our kids aren't corrupted and forced into gangs or whatever. If I was still single then yes sure I'd get the cheapest rent in the shittiest areas while renting out properties. Also, something you're not taking into account that people often forget when criticizing real estate is that leveraging the bank. Someone putting down 100k down payment is just losing 100k, not 500k worth of lost opportunities.
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.
The problem is that people want to treat houses like investment. The home you are living in is “NOT AN INVESTMENT”. It’s a place of comfort for you and your family. Not everything is an investment, sometimes you also need comfort.
It's an investment cause instead of paying monthly to rent you pay mortgage for your own place,after let's say 20 years of paying that house is yours,if you pay rent for 20 years you still gonna pay rent the rest of your life
Shelter is a basic necessity. There's the catch. You have to live somewhere. So owning doesn't have to be an investment for it to make financial sense. If you pay $1700 for rent a month, there's is no chance for you to see that money again.
You didn't understand. Only when you RENT a house or flat for living you are able to finance an additional house for business that you rent out and make money from it or at least let the tenant pay the mortgage so later when it is paid off you have passive income. you can also repeat this with several houses. You can't pay mortgage for your own and for another one at the same time if you have a normal income and if you do pay off for yours 20 years long then you will ONLY EVER OWN ONE. And who says living in comfort is only possible with buying your own home? Living in comfort especially mentally is when you have passive income, not when you have debt payments.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@@RobertDennison411 how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
@@Nickolas_M_Greer Rebecca Charlotte Craig is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
And if you’re buying the house, you’re not paying any of the fees, the seller pays the fees. Also, you can’t simply add and multiply percentages the way that he did, the math is completely wrong.
that's the whole point. Don't smoke your own product, it's for your consumers.. you can eat after they eat.. let the consumers have the best piece of rib eye cut with lobster and shrimp while you eat ground beef burgers and cow tongue/tripe tacos..
I’m 36 and I have about $190k liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at stocks instead?
Yes, housing crash is coming. If you're thinking about investments to earn huge income while maintaining the ability to access your money and safety, so you don't get caught in a market decline, a financial planner can come in handy
True, a lot of folks downplay the role of advisors, until being burnt by their own emotions, no offense intended. Amid covid-19 pandemic crash, I needed a good strategy to grow my portfolio, thus I consulted the service of a true market strategist that helped to rejuvenate my $700k portfolio, boosting its return over 240% as of today.
@@Adrian_misterblue massive gains! mind if I look up the pro that guides you please? I see no other way to maneuver steady profits and stir off losses except by professional guidance, the market is affected by economic policies nowadays
I've shuffled through a few advisors in the past, but settled with ''Theresa Leigh Detrick'' she's the most resourceful, highly knowledgeable, and very easy to work with, you should locate her online if you are an internet-savvy.
I find this informative, truly appreciate it.. just inputted Theresa Leigh Detrick on the web, spotted her consulting page, and was able to send my inquiry across, i'm hoping to end the year winning !
A house in America is such a luxury, they will charge half your income to rent, so don't even think about buying a house just buy a tent or RV and save some moneh
@@uglypotata6110 “broke guy” So basically you..? The OP of the comment isn’t wrong, you boot licking kids will praise these types of people thinking you’re going to be successful like them when in reality you’re just falling into their trap, they’ve made all of you look like sheep so effortlessly it’s hilarious. - an actual business owner that owns multiple homes
@@cryMoreLoL woah buddy I am not defending the guy he’s made bucks of the ignorance of others admittedly, However as a person who’s fortunate enough to own and manage a portfolio of properties I can assure you if you are able to afford 2/3 properties with a rent/repayment profit with the end goal of owning or stacking away money that someone else is paying then yes it’s sound advice I’m not here to flex or brag because it’s a generational hand me down and as the builder of the family I inherited the property while other family inherited the wealth
@@cryMoreLoL you’re way to emotional to hold down a intellectual conversation why are you so full of emotions? Or do you assume because you can see a blatant con artist you must be so powerfully intelligent that everything they say and you disagree with must be fiction? I assure you sir facts don’t care about your feelings
@@frankbishop5594 the clown isn’t targeting people like us, he’s targeting people who don’t know anything about investing. Nothing his says is of value to someone who already knows how to invest in real estate for 2 reasons. 1 - you should already know this information 2 - it’s bad information to sucker people into his product. You obviously wouldn’t consider Cardone Capital. Why not? Because you know it’s horse 💩 and you don’t need his help (as you have stated, you already inherited some success.)
Yeah 5% is the average where I live in Cali it’s based off where you live, if you’re in Texas or the south which I’m guessing is where he is because of the high property tax than the fees are probably over 10%
Hes saying as an investment in increasing your wealth not an investment in your comfort and relief. Im going your route too because I dont want to worry about getting laid off and owning properties is dangerous considering the CDC can illegally decide to cut off rent to homes i manage when it’s convenient
Yeah you got lucky. You found an affordable one and you had the money at the right time. For the vast majority of us that’s a luxury we can’t even dream of. Owning a house for the majority of people is a horrible investment.
Silly me, I built my own house almost 30 years ago, paid it off and now I'm cash flowing the crap out of our finances and investments while completely killing our income tax liability.
I bought my house with cash in 2014 for $240,000....today its worth $550,000. It would sell in a millisecond if i wanted too...its on 2 acres, 3 car garage and its a ranch....best investment i ever made.
@@songoku-jx3cb I closed on a home back in summer of 2015. Prior to closing I did the Planet Fitness homeless thing sleeping out my vehicle because I didn't want to renew my lease while trying to get a home. It was a fun experience and I saved a shit load of money for about 6 months during that chapter of my life.
@@FoxyGrandpa75ederal law caps the brokers fee at 3%. And 10% maintenance is insane your telling me on a 200k home your doing 20k in maintenance a year. Broker and agent fee could 6% but that's rare usually 3-4.5% plus you could make the seller pay
I bought my house in 1986 for $185K and it’s worth $800K today. It’s been 38 years of not chasing rental markets, no dealing with unreasonable landlords, no rent hikes, no relocation and moving costs, and having a place to live for the rest of my life. Well worth it. Great investment. I also bought other real estate, rental houses, strip malls, land, etc. and even built some offices and apartments. Real estate is the way to go for the average Joe.
😂😂😂😂😂 My house increased in price 300k over the last decade. 2013 market soft 2022-23 exploded. I took one hundred grand out of equity and built a pool and outdoor kitchen. My mortgage is still less the most rents in the area and my house has a guest house that I rent to pay 75% of the new loan. Hey Grant! SMD! 😅
Only thing he trying to articulate is stop trading time for money, rather than work a job to pay my mortgage! I’d rather just drive by and pickup my rent, and let someone else work to pay it for me, while I’m on a Beach 🏝️ in Maui
@@cbsvideo70 The rental house is not free, you still have to pay all the expenses out of your rent just like you have if you lived in it. You get to keep what's left as profit. That's not covering your rent on the beach
@@FoxyGrandpa75he's so wrong a mortgage makes your payment fixed while rents rise. Also if you rent for 1k and my mortgage is 1k after 30 years that 360k. I'll get atleast most of that back you get none back and I assumed your rent didn't change in 30 years good luck with that happening
@@alexgrinage this just goes to show you have no fucking clue what he’s talking about in the slightest. He’s not talking long term. he’s talking about good debt and ROI. You’re buying a liability while he’s buying an asset. Seriously it’s not even that complicated
I bought my 1st duplex home in 2006 for 120k. 15 years later I sold it and walked away with 150k liquid cash and was able to purchase another property without paying property gain taxes. Buy an investment property people! Do your own due diligence….there are real scammers out here telling folks not to buy. Even in this crazy world of overpriced homes. Find a way to buy. You can leverage tax lien, foreclosures, etc.
Buy a house and your mortgage will be the same for 30 years except for taxes and insurance adjustments. Rent now and they can jack your payment up to whatever they want and call it operating costs or inflation.
Yep pay 12% for broker fees. Like what brokerage even charges that much? I’m a Realtor and we charge 6% ~3% for Listing Brokerage and ~3% for Buyer Brokerage( except now we don’t with the whole commission decoupling settlement) so it’s only like 3% now.
I own 12 trailer homes. Live with my aunt right now. Collecting rent income from my trailer home properties. 5 more years till I net my first million. Won’t be buying a house until I have at least a mil and a half liquid. So I still got lots of miles to go.
He is right. Look at this example; I’m currently looking at a house in Orlando, I’m planning on putting down 100k and my monthly mortgage will be around 1,500 a month due to HOA fees and on top of that add +water + electricity +trash and any repairs. Now around that area I found houses for rent for 1,500 and only have to pay electricity. So for me renting will be better plus I can either leave that 100k on that bank making over 4% or I can invest that 100k into a multi family that will generate me enough to pay my rent.
Parent bought a house right before the recession ended, did some work over the 10 years but never cared to check the estimated value of it until recently and man was it a good investment
Only thing is you have to sell it to realize the gain then have to find another place to live. My home went up quite a bit, but in reality everything else is just inflated...be a wash when you move. Good timing though on your parents getting a home before all the craziness.
@Katydid Heck ya, I like to hear that. Good for you. Nice to be able to get "free". I live in Texas... waiting for my kids to get through school. I'll be looking to move where property taxes don't suck the life out of me.
Good timing, but the issue comes when house "value" goes up, and you're paying higher taxes each year, regardless of income. And to make a gain relative to new prices, you have to move away from where you've established yourself (somewhere people aren't willing to pay as much to live there).
He forgets the part where tenants skip payments, squat, or destroy the property. There's more to renting than just having someone move in. One bad tenant can destroy years of work.
This is how I think it’s done. You rent a cheap place to live, then you buy a house, give it for rent, and with the tenants money you’re getting, slowly you pay of the mortgage.
The market in Nashville is crazy. We bout our house for 900k and maybe put 100k into it. We decide to move after 7 years and sold it for 1.7 mil after only being up for a week. Also no inspection and all cash.
Some people need to rent like me I’m 20 and I can’t live with my parents anymore I work full time and need a place to stay I love my job and wouldn’t mind working overtime 2 extra days a month to cover rent plus I have so much money saved up I can never go broke
renting will actually save you more money to invest rather than paying a mortgage. All fees tied up, maintenance cause the house will need repairs sooner or later, all adds up.
What he didn't mention is that if it's your first house you can not rent it out for two years if you have a mortgage. You can rent out rooms but It still has to be your primary residence for at least two years prior to renting as a whole house.
I know a guy that bought a house for 220 k, lived in it for 10 years, invested 30 k to improve it and sold it for 480 k and moved to Spain in Valencia where he bought a 200 k house and now has money to do business.
Bro, who is paying 12% on a broker fee to buy a house? I’ve been through the homebuying process as a buyer, and that has literally never came up nothing outside of normal, closing costs, and down payment.
He mostly means as an “investment”. Buy a house if you want a house, for sure, but not as a money producing asset like a true “investment”. Just semantics, but it does make sense.
He is absolutely right, input monthly insurance, property tax , HOA, PMI, maintenance and interest rate into your monthly payment, your upside down on the home for 15 to 20+ years, owning property is not an investment like people think
yeah its not as cracked up as people make it out to be, but ideally Im sure that everyone would want their own home. And its more of a consideration for people with children.
In other words, your house is a consumption item if your carry/expenses/transaction costs are greater than the appreciation. Also have to factor in inflation if you're going to measure things in terms of buying power.
@@wavesbnice1 it makes sense whether you own one or 10. Lodging is a sunk cost and usually the highest item on anyone’s budget. You’re better off paying that towards something you will eventually own as opposed to not owning. You may realize this when you retire and still have a house expense when you could’ve eliminated that and just pay the property tax
@@mr.brooks9802 he is saying something dofferent that i have not fully grasped. He still says to buy real estate but to rent it. Maybe the difference is jn taxes and fees?
@@studentpilotlookinahh this is currently low inventory nationwide. People aren’t buying houses due to the mortgage, fed rate, and recession. Best thing to do is wait it out by renting, then buy once the crash occurs.
Ppl clown Grant but they believe it when Stephen Graham said the same thing. Buying a house is not a universally, financially wise decision for a lot of people
Property taxes here are 1 % broker fees are about 6-7% average home price is 250k. If you buy a rental be aware property taxes are roughly 10-20% because it’s taxed as an investment property average sale price is 300k, still 6-7% broker fees. You pay income tax of 50% on what you make from rent. Maintenance fees are closer to 5%. Don’t forget court costs and lack of income when they don’t pay rent.
Over 10 years you are paying 20% in taxes based on his calculation according to mine it is probably around 25 considering assessment of property increases over time. But it is still worth owing than renting. House will appreciate over 50% during that duration so technically you are paying for everything but you will recover almost all of your expenses once it is sold. Didn’t make any or lose. Lived for free for 10 years. That’s how people should calculate. Renting 100 💯 money burning machine.
I agree with him that it is not a great investment. Between maintenance and mortgage interest you’ll at best break even. But it greatly controls your largest expense. And eventually it’ll be paid off which will be huge control factor in retirement. The only way a house is an investment is if you pay cash (eliminate interest) and have someone renting it.
This math is so flawed. It is assuming you make the upfront investment of paying $500k cash for the house and also keep paying the Bank 7% interest. It’s one or the other, not both. If you buy the house outright, you’re not paying the bank anything. If you pay the bank 7% interest, you didn’t spend the $500k up front.
Ban mandatory school. Instead of spending $180,000 for a kids education for them to graduate and not kno how to work a cash register or flip a burger, that money could be spent on buying very cheap houses for the poor.
My mom spends $1450 rent outta $1800 social security social security is a JOKE work 50 years and get $2500. What the fuck can you do with $2500 mean while bozos makes $3700 a secomd
Most people aren’t buying a house to make money. Most people don’t want to raise a family in an apartment. I just want a small house with a big yard to live in for the rest of my life.
There are some things I see or read from wise and well educated people which I have already thought and implemented before I see their videos. This makes me think I m taking the right choices in some areas of my life. Especially in finances!
You could say that about any experience that you spend money on. Renting is simply the act of periodically paying for the experience of a place to live. ' "Going out to dinner" is like throwing money away. You will never see it again. ' Do you see how ridiculous that sounds?
But even when you own a house you will always pay maintenance, property taxes, and home owners insurance on it. Because of the property taxes, you never really completely own your home.
@@johnyang1420 typically means they are tryna get you to look over something in my opinion. People who talk fast don’t want you thinking hard about what they say
Why does nobody get what he is saying, he is talking about houses not be a good investment if you just let it sit there and that you should instead rent/airbnb it out to people. Houses are good if you actually use them to live or rent/airbnb them out to people and not if you just let it sit there with no one in it and wait for the value to go up
I get it but then you'll need to rent too and that's not smart, rents have been rising rapidly you'll also be owing a landlord who gets rich so he doesn't make any sense.
Oh yeah, don't INVEST in an asset that is in your name, building YOUR equity, personalized to YOUR liking. Live under the thumb of a landlord and build their equity 🙄
People think it's cheaper to pay a mortgage. Yeah, if you ignore the other costs associated with owning a home that a renter does not have to deal with.
Ok bought for $165k. Remodeled added on for $150k. We are in the $550-600k range and owe under $100k at $1200 month. 2.75% When we rented for 14 years for $1200-1500/mo we have nothing to show for it.
For most people owning a home is a smart decision, especially if you have a family. Rent is more than most mortgages so I don’t see how anyone can justify renting especially when you plan on living somewhere long term and have a family.
Property taxes are around 1800yearly in my area. That's chump change. People pay that on a monthly basis for rent. Now don't you feel like a cardon fool
@@redwallz4624 // Charge it to the game. But yeah, someone else had mentioned that basically no one actually owns shit anyhow. If you stop paying property taxes, watch and see what happens. I said something similar: Stop paying that mortgage and you'll soon see you don't actually own shit. The bank does. Between banks and the govt you gotta beat them at their own game and get elected to their board, buy stocks or municipal bonds. Gotta play chess (not checkers) with these people.
Buying an home with a mortgage is all about valuation and long term investment, ,right now homes had been sold for 1.2 million and was purchased 300k with taxes and % end up paying 700k, there’s still profit. As long the government keeps on injecting and printing money in the next 30 years a median house will be 400k to 600k and they will be sold for 1.2 -1.5 million, dollar keeps on depreciating
Renting is a terrible investment. Home ownership fixes your long term housing costs, provides stability and hedges inflation. There is a reason the vast majority of millionaires own their primary residence. This guy has slick salesman vibes.
I love when its more uninformed people in America then thinkers, 80% of the commenters never used this strategy or never owned a property. I own a three unit property and still live on the investment property for 5 years, we taken out a 75k in equity and brought our first commercial 6 unit property. This strategy will make you real estate rich faster and help you save money, plus keeping a eye on your property. This time Grant Cardone is 100% right, we not going to buy a house until we get our fourth property. We pay no mortgage the tenants take care of that problem.
You can buy a house like a duplex rent out one room and they can conver your mortgage while you live rent free. IFFF it goes up in value you can get a cash-out loan on the present value ( the difference ) and buy another house and rent it out and keep on repeating this.
This is the best I have ever heard grant explain his stance on buying a home. Happy to have heard it. His math is a little off and the percentages are bloated but I get where he is coming from.
buying an expensive house when u can't afford it is dumb. People shouldn't be going into debt for big exspesnive house they cant afford don't need with a bunch of stuff and empty space that barely gets used. A cheap house could be cheaper in 7yrs or less than an apt if paying $4000/yr in property taxes.
Yeah don’t buy a house. Rent one of his apartments.
If your want to stay in one place for over 7 yrs, and dont want the rules that come with rentals, and want to be able to grow your own food and have benifits of a house, then a cheap house could be a cheaper option in about 7 yrs or less compared to renting. Depends on the costs of house vs renting, houses r different prices, rents r different prices.
This is his pitch, don’t buy a home, rent instead and buy real estate, but don’t deal with the headache of buying and managing real estate, send me the money and I’ll do it for you. It’s a good pitch, just not the most honest.
😂
@@bvegannow1936 Cheap house? Not in Cali
@@Heartless-oi3sp move out of cali then, Or maybe u can find somewhere in a moral rural area where u could get some land and put a very small cheap house on it which is like a basic survival camper or house like under 10x10 foot big which u could try building partly yourself from used materials like from construction sites..., like opportunity village in Oregon.
The ones telling you not to buy a house, own the biggest ones.
People don't buy a house as an investment. They buy a house for comfort and stability, build memories, and stop being at the mercy of landlords.
lmao.. until they fall behind on their mortgage.. or taxes. or the insurance goes crazy.. or there is a flood.. or hurricane.. or the roof needs replacement.. or the neighborhood changes for the worse.. or hoa fees go crazy...
and oh yeah... until the market crashes again and you're undwrater in equity... thats coming around... again. ahh.. the memories
That's why people need to buy within their means! If we are all renters, rent will be crazy and no one will be able to afford rent either.
@@joellexaverie9703 there's a lot of money to be made by helping people be fiscally responsible.. but There is a LOT more money to be made by helping people spend outside their means. The vast majority spend way more than they have. Debt has never been higher in the history of America as it is now. Let's deal with reality. Not what we wish things would be.... if you bought your home over 5 years it may have been a good deal. If you bought post pandemicor are buying now it may be the worst investment you ever made.. Im in the market.. I almost bought last year. I bought nvda instead.. not buying a house was a great decision.
@@joellexaverie9703 what percentage of Americans live withing their means. 🤔
Buying a house is also a hedge against inflation. Rents go up. Fixed rate mortgages do not. When you pay rent you pay somebody else’s property taxes, maintenance, etc in perpetuity.
Lmao. When the rich are so rich they forget how real life works
It kinda works differently for different people, don’t ya think?
Yeah he popped out rich ryt?? Dumb brokie... Hez telling u the strategy.. rather than finding excuse... learn..
Wtf is “real life” you act like we’re all the same
If you’re capable of buying a house you’re capable of the investment strategy he’s talking about
I can’t afford a home in LA where I live. Although I do own 2 houses in the Midwest that I rent out. I rent a modest apartment and drive a KIA. If I lived in a cheap market I’d buy. But I don’t and I don’t want to live in the Midwest.
Buying a house is not really an investment it’s just peace of mind that you’re unlikely to have to leave as long as you pay your property taxes.
He’s definitely wrong. He’s just trying to make us not buy homes so he can buy them all to rent to us. 😂
Yeah, pretty sure if you have a $576k house you probably aren’t needing to spend $5.76k in “maintenance fees” every single year. There will be bad years where something major breaks like the A/C or you need to replace the roof, but it shouldn’t average out to 10% over 10 years unless its a cheaper, older home at that stage in its life where everything is needing to be replaced.
Tell me how you think hes wrong? You paying a mortgage is not an investment.
@@bopcentral7425 homes are like stocks they go up in value over time. Even if a crash occurs don’t sell because the value will recover. My father makes 60k a month in real estate. I have condos at 21 years old and they are slowly going up in value. My guy you are dumb as rocks if you think houses and condos are a bad investment.
@@bopcentral7425 Let’s say you brought a 50k condo in 2019. That same condo would be worth $200k now. Houses too. Let’s say you bought a house for 500k in 2003. That same house would be around $1 million now. My father brings in 60k a month due to real estate. Real estate, gold, and Bitcoin are the best investments.
Don’t fall dor this fellas. Owning your own home is your protection against inflation in a long term. Rent will always go up and money will always value less, but your mortgage stays the same ! Through the time you will pay less because money will worth less.
I really think owning a home is beneficial or not depending on your bank account your cash flow and your investment knowledge if you have enough money for a house but you dont have knowledge on how to transform that money into more money and you have no cash flow and you need a house then i guess thats when is a good idea investing in a home
It's not that simple. At current rates it costs way more for a mortgage than renting, not to mention other costs of homeownership like maintenance and property taxes. How am I beating inflation by spending an extra 2k a month and building very little equity?
@@nicolasgirard2808 I can’t speak for all cities, but where I live, it’s about the same thing
And when everything else goes up so does your property taxes, maintenance fees to fix home, upgrades, etc. No one escapes inflation. We all pay one way or another.
Remember folks, if Grant Cadone was such a real estate genius he wouldn't be trying to sell you a course for a $499.99.
What do u mean?
@@peterteba3891 he doesn't know what he means. He expects shit for free
This is a logical fallacy
Yeah, well his net worth is upwards of 600 million. What’s your net worth?
Hur dur rich people bad rich people dumb
This guy is so smart. I sold my house and am living on the skid row.
Lmaooo
Perfect now you ll rent one of his
Wouldn't that make him right? Sounds like u didn't make shit off the house
you aint watch the whole video huh
😆🤣.
I bought my house in 2012 cash, it was a foreclosure. Now it's worth 10× what I paid for it, and I don't pay a mortgage. Best investment I've ever made 🥰
he meant a mortgage :) buying with cash is so much better for sure
Nice!!
I jumped here to say we bought a house in 2011 and it's now worth 220 percent more. So not quite sure how that's a bad investment.
Also not living in a box was kind of nice...
If you don’t do the mortgage. That s easier
That’s an amazing deal, lucky guy
I don’t think I have ever heard a more confident and convincing man be so wrong before
That math is pretty awful. I guarantee you he owns a bunch of rental properties and doesn't let people owning their own property.
He's following Robert Kiyasoki's approach to owning a home. You don't "marry" it to take care of it, you "pimp" it to make $$$! Your home pays you nothing but may cost you other investments that can help you pay for the house!
@@giveme10feetthat's because they don't have a normal job. Theyre real estate "investors".
The rest of us who have alternate income can benefit a lot from the tax deductions we get from getting a mortgage on primary residence.
As well as the benefits of being in nicer areas with decent schools were our kids aren't corrupted and forced into gangs or whatever.
If I was still single then yes sure I'd get the cheapest rent in the shittiest areas while renting out properties.
Also, something you're not taking into account that people often forget when criticizing real estate is that leveraging the bank. Someone putting down 100k down payment is just losing 100k, not 500k worth of lost opportunities.
😂
He's not wrong buddy. Do the math yourself: renting & investing over buying a house with a 20-year mortgage.
I love how Grant cardone can convince you that renting your house is a good idea. You'll lose 100% of that rent
He came to CERRITOS DODGE to teach his car selling class . It was pathetic in my opinion
I’m his principal only applies if
You’re owning a multitude of rentals. That’s the catch.
Remember rent is an asset if done correctly
You must have missed the end where he says buy a house
not if the extra fees (interest, maintenance, insurance, tax, HOA etc) is higher than your rent
Amazing. “I GOT RICH DOING THIS”
The first step to building wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon. Give this a try and attain good-returns.
researvh this, if you care
FinanciaI-PIanner Rebecca Mart-Watson (in fuII)
Grant Cardone is the definition of "Scam Artist"
“Don’t buy a house or multiple houses like I did because then there will be less for me to buy and rent out”
He’s saying don’t a house to live in how are you so dumb?
He literally says to go buy a house and rent it out.
The problem is that people want to treat houses like investment. The home you are living in is “NOT AN INVESTMENT”. It’s a place of comfort for you and your family. Not everything is an investment, sometimes you also need comfort.
It's an investment cause instead of paying monthly to rent you pay mortgage for your own place,after let's say 20 years of paying that house is yours,if you pay rent for 20 years you still gonna pay rent the rest of your life
It's an investment of comfort for you and your family 🙏🏿
Shelter is a basic necessity. There's the catch. You have to live somewhere. So owning doesn't have to be an investment for it to make financial sense. If you pay $1700 for rent a month, there's is no chance for you to see that money again.
100% agree. Our home is our comfort for us and our family.
You didn't understand.
Only when you RENT a house or flat for living you are able to finance an additional house for business that you rent out and make money from it or at least let the tenant pay the mortgage so later when it is paid off you have passive income. you can also repeat this with several houses.
You can't pay mortgage for your own and for another one at the same time if you have a normal income and if you do pay off for yours 20 years long then you will ONLY EVER OWN ONE.
And who says living in comfort is only possible with buying your own home? Living in comfort especially mentally is when you have passive income, not when you have debt payments.
I just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $450k gains with months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@@RobertDennison411 how can I participate in this? I sincerely aspire to establish a secure financlal future and am eager to participate. Who is the driving force behind your success?
@@Nickolas_M_Greer Rebecca Charlotte Craig is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the internet and found her webpage with her credentials. I wrote her a outlining my financial objectives and planned a call with her
💢This went over sooo many people's heads...smh💢
I’m a broker and literally not one broker makes 12%, this guy had me for years until that comment
Not even the realtor makes 12% also how is it a poor investment when he owns almost a billion in real estate
And if you’re buying the house, you’re not paying any of the fees, the seller pays the fees.
Also, you can’t simply add and multiply percentages the way that he did, the math is completely wrong.
Anyone who takes cocaine Grant seriously is lol
Haha seriously we’re lucky to get 5 in LA
You don't make 6% going in and 6% going out?
He wants YOU to pay off his expenses 😂😂😂😂
that's the whole point. Don't smoke your own product, it's for your consumers.. you can eat after they eat.. let the consumers have the best piece of rib eye cut with lobster and shrimp while you eat ground beef burgers and cow tongue/tripe tacos..
I’m 36 and I have about $190k liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at stocks instead?
Yes, housing crash is coming. If you're thinking about investments to earn huge income while maintaining the ability to access your money and safety, so you don't get caught in a market decline, a financial planner can come in handy
True, a lot of folks downplay the role of advisors, until being burnt by their own emotions, no offense intended. Amid covid-19 pandemic crash, I needed a good strategy to grow my portfolio, thus I consulted the service of a true market strategist that helped to rejuvenate my $700k portfolio, boosting its return over 240% as of today.
@@Adrian_misterblue massive gains! mind if I look up the pro that guides you please? I see no other way to maneuver steady profits and stir off losses except by professional guidance, the market is affected by economic policies nowadays
I've shuffled through a few advisors in the past, but settled with ''Theresa Leigh Detrick'' she's the most resourceful, highly knowledgeable, and very easy to work with, you should locate her online if you are an internet-savvy.
I find this informative, truly appreciate it.. just inputted Theresa Leigh Detrick on the web, spotted her consulting page, and was able to send my inquiry across, i'm hoping to end the year winning !
A house in America is such a luxury, they will charge half your income to rent, so don't even think about buying a house just buy a tent or RV and save some moneh
Or work more, learn new skills so you can afford it.
@@Nolimitcrew225 i would advise buying a house which you after tax income can pay down fully in
Right but if u do it right it’s a tax write offf
@@antoinepowell649 Do It right????
@@frankiegunnz8066 open a LLC buy the house under your business then u get tax write off up 26 years my advice, get a multi family
Oh yeah listen to the guy that rents apartment complexes for a living tell you not to buy a house😂
Oh look, i broke guy the telling rich guy don't know what he talking about🤡
@ugly potata Exactly his point, not everyone has 10-15 million dollars just laying around to buy apartment complexes like this guy 🤡
@@uglypotata6110most people are buying a home to avoid paying rent that increases every year. It's not that complicated
@@uglypotata6110 “broke guy” So basically you..? The OP of the comment isn’t wrong, you boot licking kids will praise these types of people thinking you’re going to be successful like them when in reality you’re just falling into their trap, they’ve made all of you look like sheep so effortlessly it’s hilarious.
- an actual business owner that owns multiple homes
@@SUPER_JAVI this guys was broke and what’s your excuse brokie
"Let's say you buy a $1,000,000 house."
No, let's not.
Like what 😂😂😂 that’s the worst example ever
Lmaoo 😂
You aren’t the target audience
Rental or own house I would be happy with right partner anywhere on the planet
😂😂😂
Man, he’s really pushing his product. “Don’t buy a house, rent my property instead.”
You can take that part out and it’s actually sound intelligent investing
@@frankbishop5594 no it’s not. Grant Cardont is a con artist, you’re just one of his victims. I bet you think “side hustling” is smart too.
@@cryMoreLoL woah buddy I am not defending the guy he’s made bucks of the ignorance of others admittedly,
However as a person who’s fortunate enough to own and manage a portfolio of properties I can assure you if you are able to afford 2/3 properties with a rent/repayment profit with the end goal of owning or stacking away money that someone else is paying then yes it’s sound advice
I’m not here to flex or brag because it’s a generational hand me down and as the builder of the family I inherited the property while other family inherited the wealth
@@cryMoreLoL you’re way to emotional to hold down a intellectual conversation why are you so full of emotions?
Or do you assume because you can see a blatant con artist you must be so powerfully intelligent that everything they say and you disagree with must be fiction? I assure you sir facts don’t care about your feelings
@@frankbishop5594 the clown isn’t targeting people like us, he’s targeting people who don’t know anything about investing. Nothing his says is of value to someone who already knows how to invest in real estate for 2 reasons. 1 - you should already know this information 2 - it’s bad information to sucker people into his product. You obviously wouldn’t consider Cardone Capital. Why not? Because you know it’s horse 💩 and you don’t need his help (as you have stated, you already inherited some success.)
Never take advice from someone who just wants your money
Like politicians?
Yeah dont take advice from politicians thats pretty obvious @rickypv2978
That’s something a brokie would say
He’s right, that’s why I live under the bridge.
lol
😂
smart lol
How is it??? Are things great??
😂😂😂😂 oh lawd
Living in your own house and no one can tell you what or what not to do =priceless
If the police came they could tell you what to do no?
@@SerV689 if they didn't have a warrant , no
Stop paying property tax. Not so much your home anymore. So do you really own your home?
@@mynamesjeff1814 everyone pays taxes
@@AtlasZero13 Not everyone.
“You will own nothing and you will be happy”
Buying Grant Cardone's Scam Fraud Course is the worst investment you can make.
Bro said 12% for broker fees 😂
More like 6-8%
Yeah 5% is the average where I live in Cali it’s based off where you live, if you’re in Texas or the south which I’m guessing is where he is because of the high property tax than the fees are probably over 10%
@@aab434 then just buy directly 😂
What broker lol.
This guys math is terrible
Lol buying my house was the best thing I’ve done in my young life
Hes saying as an investment in increasing your wealth not an investment in your comfort and relief. Im going your route too because I dont want to worry about getting laid off and owning properties is dangerous considering the CDC can illegally decide to cut off rent to homes i manage when it’s convenient
Yeah my dad brought a house for 200k now it’s worth 4M do not listen to Grant…. Timing is everything in the housing market
Facts
Facts
Yeah you got lucky. You found an affordable one and you had the money at the right time. For the vast majority of us that’s a luxury we can’t even dream of. Owning a house for the majority of people is a horrible investment.
Silly me, I built my own house almost 30 years ago, paid it off and now I'm cash flowing the crap out of our finances and investments while completely killing our income tax liability.
Its true buying a house is a liability
“Don’t buy a house, buy real state that other people live in (meaning a house)”
He saying don't buy a house and jus live in it. Rent where u live and buy for others to rent to you
@@thewaluigibrothers1482 paying rent, if going to be almost the same as what they'll be renting it out for, no making any money doing that
@Pat Brody true. If u got 1 then u breaking even almost that's why he always says get a apartment. Multiple doors paying you
Exactly
I bought my house with cash in 2014 for $240,000....today its worth $550,000. It would sell in a millisecond if i wanted too...its on 2 acres, 3 car garage and its a ranch....best investment i ever made.
Renting isn't making you money... you're paying someone else's house! Why make someone else rich when you can make yourself rich...
Is he a homeowner? It's like a PhD telling people not to go to college.
The thing is he didnt get his own home until tens of properties in. So your point is invalid
He literally says in the video that once you have money coming in elsewhere go buy whatever you want
But he has millions? Stop coping and listen
You guys are funny to me. Stop being fanboys.
@@vicshephard9231 better than being a bitter hater
you’re right grant, we should all live in cardboard huts we built ourselves and bathe in the creek…
Then invest the money from that to buy appartments, why live in a house when you can make 1000$ a month renting it
You belong to the streets
No you get a 10.00 planet fitness membership and shower there and have a place to charge your phone. Great 10.00 monthly expense
@@tsaunders4684 where do you sleep
@@songoku-jx3cb I closed on a home back in summer of 2015. Prior to closing I did the Planet Fitness homeless thing sleeping out my vehicle because I didn't want to renew my lease while trying to get a home. It was a fun experience and I saved a shit load of money for about 6 months during that chapter of my life.
In mid Missouri it’s only 3% for paying the realtor if you’re buying, 6% if you’re selling.
This man does not live in reality.
He actually does
Unless he is, and we are still in the rat race. I'd prefer to listen to advice of successful people because they are successful.
@@ethantrani-pj8vm fax
@@FoxyGrandpa75ederal law caps the brokers fee at 3%. And 10% maintenance is insane your telling me on a 200k home your doing 20k in maintenance a year.
Broker and agent fee could 6% but that's rare usually 3-4.5% plus you could make the seller pay
@@FoxyGrandpa75 no one uses fax machines anymore
I bought my house in 1986 for $185K and it’s worth $800K today. It’s been 38 years of not chasing rental markets, no dealing with unreasonable landlords, no rent hikes, no relocation and moving costs, and having a place to live for the rest of my life. Well worth it. Great investment.
I also bought other real estate, rental houses, strip malls, land, etc. and even built some offices and apartments.
Real estate is the way to go for the average Joe.
😂😂😂😂😂 My house increased in price 300k over the last decade. 2013 market soft 2022-23 exploded. I took one hundred grand out of equity and built a pool and outdoor kitchen. My mortgage is still less the most rents in the area and my house has a guest house that I rent to pay 75% of the new loan. Hey Grant! SMD! 😅
Only thing he trying to articulate is stop trading time for money, rather than work a job to pay my mortgage! I’d rather just drive by and pickup my rent, and let someone else work to pay it for me, while I’m on a Beach 🏝️ in Maui
@@cbsvideo70 The rental house is not free, you still have to pay all the expenses out of your rent just like you have if you lived in it. You get to keep what's left as profit.
That's not covering your rent on the beach
Damn! Big baller
That guy thinks everyone just has 100k sitting in their bank account, I wanna know what percent of people have 100k save?
Must be nice to be a boomer
He is the same guy who just buys a house in Malibu for 40 or 50 millions and gives the advice to others to not buy a house 😂😂😂😂
You clearly didn’t listen to a word he said
@@FoxyGrandpa75he's so wrong a mortgage makes your payment fixed while rents rise.
Also if you rent for 1k and my mortgage is 1k after 30 years that 360k. I'll get atleast most of that back you get none back and I assumed your rent didn't change in 30 years good luck with that happening
@@alexgrinage this just goes to show you have no fucking clue what he’s talking about in the slightest. He’s not talking long term. he’s talking about good debt and ROI. You’re buying a liability while he’s buying an asset. Seriously it’s not even that complicated
He doesn't want you to buy a house because he wants you to rent an apartment unit from him.
I bought my 1st duplex home in 2006 for 120k. 15 years later I sold it and walked away with 150k liquid cash and was able to purchase another property without paying property gain taxes. Buy an investment property people! Do your own due diligence….there are real scammers out here telling folks not to buy. Even in this crazy world of overpriced homes. Find a way to buy. You can leverage tax lien, foreclosures, etc.
Buy a house and your mortgage will be the same for 30 years except for taxes and insurance adjustments. Rent now and they can jack your payment up to whatever they want and call it operating costs or inflation.
This
You still broke tho
Bingo. Also if you have a low interest rate then you are big chillin
@@goaldineyelife6291 how are you broke when a house payment is stable for years, and is often cheaper than an apartment?
You still break even. But you don’t buy a house for yourself you buy a home for your children they will reap the benefits
Him- “2 times 10 is 20”
Me- “hold up”
*pulls out calculator*
“Ok, checks out. Continue”
Buying a house is better then renting if you plan in living in the neighborhood but yeah your house IS NOT AN INVESTMENT BUT BEATS RENTING
Yep pay 12% for broker fees. Like what brokerage even charges that much? I’m a Realtor and we charge 6% ~3% for Listing Brokerage and ~3% for Buyer Brokerage( except now we don’t with the whole commission decoupling settlement) so it’s only like 3% now.
I own 12 trailer homes. Live with my aunt right now. Collecting rent income from my trailer home properties. 5 more years till I net my first million. Won’t be buying a house until I have at least a mil and a half liquid. So I still got lots of miles to go.
Get more income dude I’m sure you can get to it sooner. Free up some space in your schedule to learn a new skill to get there hopefully years sooner!
Get a life
How did you learn about that?
Freeloaded be a man and get your own space
@@Idontknowhoiamanymore wtf are you talking about? Go back to mommy and eat your buggers
Its not all about money,its a family home that you end up owning rent free and a lifetime of memories
He is right. Look at this example; I’m currently looking at a house in Orlando, I’m planning on putting down 100k and my monthly mortgage will be around 1,500 a month due to HOA fees and on top of that add +water + electricity +trash and any repairs. Now around that area I found houses for rent for 1,500 and only have to pay electricity. So for me renting will be better plus I can either leave that 100k on that bank making over 4% or I can invest that 100k into a multi family that will generate me enough to pay my rent.
2x10 is 20
Thank you Sir I never would’ve have figured that out
Yes alot of people think grant cardone is a scammer and a liar. But i pulled my calculator out and 2 x 10 is in fact 20.
Grant has my trust! 🙌
Thw way he said it though. Such conviction. This clearly isn't his first rodeo.
Parent bought a house right before the recession ended, did some work over the 10 years but never cared to check the estimated value of it until recently and man was it a good investment
Only thing is you have to sell it to realize the gain then have to find another place to live.
My home went up quite a bit, but in reality everything else is just inflated...be a wash when you move. Good timing though on your parents getting a home before all the craziness.
@@jbb66 I sold house 8/21 in AZ then moved to a condo in a state with lower cost of living.
@Katydid Heck ya, I like to hear that. Good for you. Nice to be able to get "free".
I live in Texas... waiting for my kids to get through school. I'll be looking to move where property taxes don't suck the life out of me.
Nominally but with inflation not that great
Good timing, but the issue comes when house "value" goes up, and you're paying higher taxes each year, regardless of income. And to make a gain relative to new prices, you have to move away from where you've established yourself (somewhere people aren't willing to pay as much to live there).
He forgets the part where tenants skip payments, squat, or destroy the property. There's more to renting than just having someone move in. One bad tenant can destroy years of work.
This is how I think it’s done. You rent a cheap place to live, then you buy a house, give it for rent, and with the tenants money you’re getting, slowly you pay of the mortgage.
The market in Nashville is crazy. We bout our house for 900k and maybe put 100k into it. We decide to move after 7 years and sold it for 1.7 mil after only being up for a week. Also no inspection and all cash.
Proof this nigga grant bugging tf out
Awesome. Where’d you move?
Moved to Atlanta in 2013. Parents bought the house for 210k. Ended up selling it for 600k in 2021. 6 bed 5 bath house
Insanity.
But how much did you spent on it in the mean time in maintaining it?
Rent is the definition of DEAD money
Some people need to rent like me I’m 20 and I can’t live with my parents anymore I work full time and need a place to stay I love my job and wouldn’t mind working overtime 2 extra days a month to cover rent plus I have so much money saved up I can never go broke
renting will actually save you more money to invest rather than paying a mortgage. All fees tied up, maintenance cause the house will need repairs sooner or later, all adds up.
What he didn't mention is that if it's your first house you can not rent it out for two years if you have a mortgage. You can rent out rooms but It still has to be your primary residence for at least two years prior to renting as a whole house.
I know a guy that bought a house for 220 k, lived in it for 10 years, invested 30 k to improve it and sold it for 480 k and moved to Spain in Valencia where he bought a 200 k house and now has money to do business.
Taking advice from Grant Cardone is the last thing I’d do, but it’s your money!
He has money and toys. This means he is credible and experienced.
@@STRAIGHTBOXMUSIC at taking a suckers money!
@@STRAIGHTBOXMUSIC yea he made all that money being a very honest and caring person definitely nothing shady
Bernie Madoff also “had” money and toys. Guess that means he’s credible and experienced too.
Bro, who is paying 12% on a broker fee to buy a house? I’ve been through the homebuying process as a buyer, and that has literally never came up nothing outside of normal, closing costs, and down payment.
Yeah this is one is horsheshit, a house is the safest invesment ever and the best way to create generational wealth.
He mostly means as an “investment”. Buy a house if you want a house, for sure, but not as a money producing asset like a true “investment”. Just semantics, but it does make sense.
Lmao thank y’all, i’m a broker so you saved me some time
4% when you buy 4% when you sell not 12% but close
Its grant cardone he always talks shit idk how to even spell his name i tell ya
He is absolutely right, input monthly insurance, property tax , HOA, PMI, maintenance and interest rate into your monthly payment, your upside down on the home for 15 to 20+ years, owning property is not an investment like people think
yeah its not as cracked up as people make it out to be, but ideally Im sure that everyone would want their own home. And its more of a consideration for people with children.
In other words, your house is a consumption item if your carry/expenses/transaction costs are greater than the appreciation. Also have to factor in inflation if you're going to measure things in terms of buying power.
It’s always better to own. That’s why the guy telling you to rent - owns multiple buildings/apartments 😂
He owns assets... a single family home is a liability bcuz money goes out... he named the expenses.... houses don't always appreciate...
@@wavesbnice1 it makes sense whether you own one or 10. Lodging is a sunk cost and usually the highest item on anyone’s budget. You’re better off paying that towards something you will eventually own as opposed to not owning. You may realize this when you retire and still have a house expense when you could’ve eliminated that and just pay the property tax
@@mr.brooks9802 he is saying something dofferent that i have not fully grasped. He still says to buy real estate but to rent it. Maybe the difference is jn taxes and fees?
He should’ve just said your first house should be a DUPLEX or Quad. Live in 1 and rent out the other 3.
Doesn’t it take like months to get tenant(s)
@@studentpilotlookinahh in this market, DAYS.
He doesn't cuz he wants you to rent and invest money in cardone capital
@@GMacII really? man I didn't know that. Can explain why that is? I genuinely want to know- is it because of falling prices of homes/rent?
@@studentpilotlookinahh this is currently low inventory nationwide. People aren’t buying houses due to the mortgage, fed rate, and recession. Best thing to do is wait it out by renting, then buy once the crash occurs.
Ppl clown Grant but they believe it when Stephen Graham said the same thing. Buying a house is not a universally, financially wise decision for a lot of people
Property taxes here are 1 % broker fees are about 6-7% average home price is 250k. If you buy a rental be aware property taxes are roughly 10-20% because it’s taxed as an investment property average sale price is 300k, still 6-7% broker fees. You pay income tax of 50% on what you make from rent. Maintenance fees are closer to 5%. Don’t forget court costs and lack of income when they don’t pay rent.
Grants math is so funny. Property tax in his head goes from 2% to 20% over 10 years😂
ur not very smart, hes saying over 10 years *2%=20% total
@@robertcamiliere6678 that’s not how it works.
Over 10 years you are paying 20% in taxes based on his calculation according to mine it is probably around 25 considering assessment of property increases over time. But it is still worth owing than renting. House will appreciate over 50% during that duration so technically you are paying for everything but you will recover almost all of your expenses once it is sold. Didn’t make any or lose. Lived for free for 10 years. That’s how people should calculate. Renting 100 💯 money burning machine.
Cardone’s first multi-million windfall was flipping a mansion that he profited almost $10m on.
I agree with him that it is not a great investment. Between maintenance and mortgage interest you’ll at best break even. But it greatly controls your largest expense. And eventually it’ll be paid off which will be huge control factor in retirement.
The only way a house is an investment is if you pay cash (eliminate interest) and have someone renting it.
This math is so flawed. It is assuming you make the upfront investment of paying $500k cash for the house and also keep paying the Bank 7% interest. It’s one or the other, not both. If you buy the house outright, you’re not paying the bank anything. If you pay the bank 7% interest, you didn’t spend the $500k up front.
I bought my house for 350k 4 years ago and just sold it for 620k and the broker fee was 1.5%
This guy is a piece of work, I dont want to be 80 years old using my social security to pay rent.
Stop paying property taxes and you will see who really owns your house
Ban mandatory school. Instead of spending $180,000 for a kids education for them to graduate and not kno how to work a cash register or flip a burger, that money could be spent on buying very cheap houses for the poor.
Whatever. My house payment is less than renting.
@@jimco1198 If you bought it today it wouldn't be.
My mom spends $1450 rent outta $1800 social security social security is a JOKE work 50 years and get $2500. What the fuck can you do with $2500 mean while bozos makes $3700 a secomd
He must own lots of apartments. Renting will always be worse unless he means you should be homeless
I read somewhere he has about 12K apartments
Most people aren’t buying a house to make money. Most people don’t want to raise a family in an apartment. I just want a small house with a big yard to live in for the rest of my life.
There are some things I see or read from wise and well educated people which I have already thought and implemented before I see their videos. This makes me think I m taking the right choices in some areas of my life. Especially in finances!
Renting is like throwing money away. You will never see it again.
You could say that about any experience that you spend money on.
Renting is simply the act of periodically paying for the experience of a place to live.
' "Going out to dinner" is like throwing money away. You will never see it again. '
Do you see how ridiculous that sounds?
@@jcantonelli1 exactly
Nah
You can get money from anywhere. Even win the shit
But youth...
Thats a fleeting moment in a long term relationship with pain
wtf are you talking? omg
But even when you own a house you will always pay maintenance, property taxes, and home owners insurance on it. Because of the property taxes, you never really completely own your home.
It was a great investment for me .i bought in 2018 and held till 2023 and sold and netted six figures on the sale .
My parents bought a house on L.I. for $35K in 75. We now own a house valued over $600K. Not a bad investment.
A house is NOT an asset it’s a liability, only reason you shout ever buy a house is if your wife wants one and you’ve already made it
I never trust a fast talker
Haha that’s a good instinct to go by
Why?
Me neither
@@johnyang1420 typically means they are tryna get you to look over something in my opinion. People who talk fast don’t want you thinking hard about what they say
Why does nobody get what he is saying, he is talking about houses not be a good investment if you just let it sit there and that you should instead rent/airbnb it out to people. Houses are good if you actually use them to live or rent/airbnb them out to people and not if you just let it sit there with no one in it and wait for the value to go up
Who tf just let's a house sit there and just waits for the value to go up?
I get it but then you'll need to rent too and that's not smart, rents have been rising rapidly you'll also be owing a landlord who gets rich so he doesn't make any sense.
Oh yeah, don't INVEST in an asset that is in your name, building YOUR equity, personalized to YOUR liking. Live under the thumb of a landlord and build their equity 🙄
People think it's cheaper to pay a mortgage. Yeah, if you ignore the other costs associated with owning a home that a renter does not have to deal with.
Peace of mind is priceless.
Right.
I totally concur Uncle OG. Agreed!
You’ll be better of getting a mortgage for a triplex rather than paying rent + house mortgage.
Ok bought for $165k. Remodeled added on for $150k. We are in the $550-600k range and owe under $100k at $1200 month. 2.75%
When we rented for 14 years for $1200-1500/mo we have nothing to show for it.
For most people owning a home is a smart decision, especially if you have a family. Rent is more than most mortgages so I don’t see how anyone can justify renting especially when you plan on living somewhere long term and have a family.
Stop paying property taxes and then you will find out who really owns your house!!!
Property taxes are around 1800yearly in my area. That's chump change. People pay that on a monthly basis for rent. Now don't you feel like a cardon fool
I did stop paying property taxes and nothing happened. I'm a veteran and exempt from paying
@@redwallz4624 // $6,000 in my area. It depends on the value of the property- in my area. $1,800 in property tax would mean I live in a shoe box.
@@darkhorse2reign that's crazy amount
@@redwallz4624 // Charge it to the game. But yeah, someone else had mentioned that basically no one actually owns shit anyhow. If you stop paying property taxes, watch and see what happens. I said something similar: Stop paying that mortgage and you'll soon see you don't actually own shit. The bank does. Between banks and the govt you gotta beat them at their own game and get elected to their board, buy stocks or municipal bonds. Gotta play chess (not checkers) with these people.
Buying an home with a mortgage is all about valuation and long term investment, ,right now homes had been sold for 1.2 million and was purchased 300k with taxes and % end up paying 700k, there’s still profit. As long the government keeps on injecting and printing money in the next 30 years a median house will be 400k to 600k and they will be sold for 1.2 -1.5 million, dollar keeps on depreciating
Renting is a terrible investment. Home ownership fixes your long term housing costs, provides stability and hedges inflation. There is a reason the vast majority of millionaires own their primary residence. This guy has slick salesman vibes.
12% for broker fees 😂. Don't brokers get paid by the bank and so they rarely charge the client
lol no real estate brokers usually get paid by the seller.
@@collinbarrymore I'm talking about a mortgage broker. Is he talking about a real estate agent or something
The last line was legit. Everything else was pure garbage
I love when its more uninformed people in America then thinkers, 80% of the commenters never used this strategy or never owned a property. I own a three unit property and still live on the investment property for 5 years, we taken out a 75k in equity and brought our first commercial 6 unit property. This strategy will make you real estate rich faster and help you save money, plus keeping a eye on your property. This time Grant Cardone is 100% right, we not going to buy a house until we get our fourth property. We pay no mortgage the tenants take care of that problem.
You can buy a house like a duplex rent out one room and they can conver your mortgage while you live rent free. IFFF it goes up in value you can get a cash-out loan on the present value ( the difference ) and buy another house and rent it out and keep on repeating this.
Dave Ramsey is having a fit right now.
This is the best I have ever heard grant explain his stance on buying a home. Happy to have heard it.
His math is a little off and the percentages are bloated but I get where he is coming from.
buying an expensive house when u can't afford it is dumb. People shouldn't be going into debt for big exspesnive house they cant afford don't need with a bunch of stuff and empty space that barely gets used.
A cheap house could be cheaper in 7yrs or less than an apt if paying $4000/yr in property taxes.
What he proposed isn't feasible unless you have 10 mill laying aside to spend on rental properties