Owning vs Renting -
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- Опубликовано: 12 июн 2017
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Rent Where You Live - Own What You Can Rent
Subscribe and comment and I will help you get officially accredited.
Why You Should Never Buy a Home and If You Have One SELL IT - Grant Cardone-Do you own a home? Sell it. There are better things you can do with your money. Are you thinking about buying your 1st home? Be very careful about that. You've been taught to buy a home as a smart investment since you were a kid. Where has this advice been given from? Who gave you that advice?
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Grant Cardone Career and Bio
TV Undercover Billionaire
CEO - CardoneCapital.com Real Estate Holdings 2.2B AUM
Founder - 10X Movement Business Conferences Worldwide
Author - The 10X Rule. (Plus eight more biz books)
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Raised Over 100M for Charites Apple PodcastsThe Cardone Zone on Apple PodcastsCareers · 2020 (420 kB)is4-ssl.mzstatic.com/image/th... RUclipsGrant CardoneGrant Cardone is the author of eight business books, thirteen business programs, and is the CEO of seven privately held companies. Forbes calls him one of the top social media business influencers in the world. Cardone founded and manages a real estate investment firm, Cardone Capital, with $1Billion assets under management. He also travels the world consulting Fortune 500 companies, small business owners, startups and governments on business expansion. One of his enterprises recently hosted The 10X Growth Conference at Miami Marlins Park in Miami, Florida with over 34,000 business people and entrepreneurs in attendance from over fifty countries. Mr. Cardone resides in Miami with his wife, Elena Cardone and their two children, Sabrina and Scarlett. Visit grantcardone.com for his latest blogs, news, tips, training, and where to catch him LIVE!
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21 years old just bought my first rental property!
Joseph Petche how much and where?
details man! Im 21 and got my first one with my brother
nicely done!
Joseph Petche Good luck!
Congrats
"rent where you live,own where you can rent to others" brilliant
Explain to me why this is brilliant?
Bigboy123 not. The amount in upkeep, pest contro, Leaks, plumbing, painting, property tax, depreciation renovation, etc, etc, eats you alive
depends on where you live
Why is it brilliant? Think of why you don’t own your own home AND investment properties. Because you don’t have unlimited amounts of money.
Scenario 1:
Montage the home you live in. You put your $30,000 down for the downpayment. You have a debt service of $1500 per month plus about $250 to put toward upkeep. The house doesn’t give you any positive cashflow. You work 100 hours a month just to service that debt.
Scenario 2.
You put that $30,000 into a downpayment on a fourplex, it pays you $3600 per month in positive cashflow in addition to your regular income. Your debt service is $1500-2000 a month, leaving you a net of $1600 more than what you had in scenario 1. You can take that $1600, save it over the next 18 months, and put it as a downpayment on another fourplex. Now you have two properties providing positive cashflow and growing in equity. Now your annual income is $84,000 more than what it was before. In another 18 months, you can take that to $120,000. Sure you have 20-30 years of debt, but you are still cashflow positive, all your expenses are tax deductible, your net worth is increasing exponentially, and you have the choice of being debt free with massive amounts of cashflow for your retirement, or keep building your net worth to pass it on to your kids.
I own 17 rent houses and my own home. I pay $1500/mo on my own home, that includes the mortgage, insurance, and property taxes. If I were to rent this home, it would cost at least $1500/month, and I own nothing. Now granted, I did not include upkeep, but that is a small price to pay for something that will double in value every 20 years or so. Only rent if you are not going to be in the same place for 5 plus years.
The more you know about your customers, the more you can provide to them information that is increasingly useful, relevant, and persuasive
I love you brain
Am definitely stealing this, you are genius 💯
We don’t have to be smarter than the rest. We have to be more disciplined than the rest and Know what you own, and know why you own it
Now, one thing I tell everyone is learn about real estate. Repeat after me: real estate provides the highest returns, the greatest values and the least risk
He who is not courageous enough to take risks will accomplish nothing in life.
You give the best substantial wealth of free advice being provided online, yield. Thank you.
I don’t consider the bubble will pop. To many people renting which is more secure than mortgages. All you have to do is recycle the tenant instead of wasting a 30 year mortgage. Renting might be the only way forward.
@@RichardWKeys i wish people would realize that your house is only worth what someone will pay for it , not what zillow tell you . People have felt rich because of the housing boom , i see a ,mental health crisis coming in the downturn
@@christopherberends8242 Good investment plan is what we need and many ignore it . think abt it , we do not know how bad this recession will be , what happens when a lot of first home buyers , esp in tech industries , lose their jobs? How long before they cannot afford their mortgage payment? what happens if some jobs don't come back or cannot come back? How many home owners are just getting paid by month to month
@@shariwilson9213 Exactly . I was able to accrue $30,000 in raw proft with the help of my invstmnt pundit " Angela Mae Mcclain " . The truth is , there is ALWAYS a way to make money in this market! While the market has not been set to easy mode recently, there are still nft to flip, solid coins to a stake, IDOs to ape into, trades to make, and yields to farm. Never stop hustling for those gains!
@@sararobert1676 Impressing i think i will need the assistance of your investment Pundit. I just sold my truck and i want the money place on safe investment
I just don't know if people understand what you're giving away for free. Thank you and I will continue to give back everything I learn.
No we don't understand. But hey thanks to you we do now.
Those who don't get wouldn't benefit from it anyway. I definitely am giving back, I was already about that, now I'll just have way more to give. Honestly I wasn't thinking of doing real estate but the more I watch him on how he does it the more I want to get my money up so I can start flipping stuff and investing saving ECT ECT
I think "rent where you live, own where you rent to others" is the most brilliant thing I heard. Makes sense. And thank you Grant for your wisdom. What better way to learn. Than to learn from the beat.
I like this dude. He's just flat out likable. Thanks for the advice.
There’s people in this world that get it and people that don’t. Not only does he get IT but he teaches it in way that helps others get it too. This is very valuable!
Pls tell me what have you learned from this bs he is spreading, I realy want to know.
I bought three years ago two bedroom apartment and rented. Now Im hoping next year to buy one more apartment and rent. I’m 33 years old. So hopefully before I’m 50, my goal is to have at least six or seven apartments.. o and i have bought five garages and rented.. so nat bad. Best regards from Europe- Slovenia. G you are awesome 👏
Dylan Cook you are completely right my man.. got too focus my goals on big stuff, at the end, we only have one life. Thanks for speaking out, be safe👈💪
When I grow up I want to be like uncle GC.
- I am 45 now 😁
Shit!your getting real close to your death at that age,am not saying this to be an asshole,it's a FACT.think about.
Bro don’t try to be like him , be better than him fuck grant
juan Montenegro 36 and literally I call him Uncle GC too ✨😂💪🥳😍😳✨
fuck 45 thats just a number get your shits together
Oh come on everyone he is being funny not serious 😆
Man I love your videos I’m just seeing your 2017 video, I’m going to reach out to your site to become more versed. Keep up the great work I’m proud of you!!!
I agree. I’d rather buy a home to rent it. I’d own what makes me income
You give the greatest wealth of free advice being offered online, Grant. Thank you.
I love Grant! Always going against the grain, yet continues to make perfect sense. I just love him!
I'm finding myself rewatching videos, learning over and over....thanks again Grant
Thank you,much appreciated the time(irreplaceable time) you put on this.Gratitude 🙏🏾
Thank You Grant! This video really opened up My Eyes.
i pay 1700 in rent but make 11,000 a month with 12 properties. I am going to be you one day. i buy two properties a year.
@The Indigo Child 438 what i do is. Build a portfolio with the bank. For example. Lets say i have 500k in the bank. And i bank with wells fargo. And i buy one home in cash for 100k then i find a renter within a month or two. Now that i have a renter and i have a passive income on the home. I go to the bank and refinance it for 150k. So now i have a mortgage but i have a renter that is paying my mortgage and i have more than what i put into the home. I paid 100k got 150k and have a renter paying my mortgage. Now imagine doing that with all the 500k. So your 500k turned to 750k and allthkse five properties are being paid for. (Mind you you still get money from the renters because your mortgage is usually lowers than what a renter pays you) so now that you have 750k in your pocket. You go ahead and now buy 7, 100k properties and the cycle continues.
@@ih8itdotcom so how tf i get 100k loan? Borrow from 401k? Save? What
@@ih8itdotcom I guess you are over 35 at least
Trippy ThaGod use your credit
@@dr.harambe3828 29 🙏🙏🙏
Wow!! This advice is priceless!!! Thanks for taking the time to do this.
Hey Grant thank you for this video. Never would have thought this way before but after listening you make 110% sense.
Thanks man, I really enjoyed this and I will be watching you closely from now on. I like how genuine you are and I trust you. Great job!
Hello there 👋, how’s it going?
Just want to say thanks Grant. I was on a journey to buy my Mum a home in 2 years so we can all have some independence, but after some thought and guidance from you I realised that a) owning a home wasn't the goal at this stage (living independently was, and having to raise a deposit would only further the time to that outcome), and b) that to provide long-term wealth for our entire family it would not be smart to tie up $120-$200k in a house deposit (plus the $30k + per year) and that we'd be much better off investing that to a greater effect and have others pay for our real estate.
I cannot say that this input from you has changed my life (because I haven't done anything of effect yet) , but it did allow me to consider different possibilities, which I strongly feel will give me the opportunity to thank you for changing not just my life, but my family's life a few years down the road.
Thanks for being awesome Grant! 10x
Man your slick.
Thanks for sharing the game. I’m interested and willing to hear you out.
Keep it up
This is a very good advice regarding wealth maximization. I think this all boils down to one thing : own the property (with a good price-to-value on it) that will be surely rented out (close to a 100% occupancy), whereas choose to rent the property that may or may not have a high occupancy rate.
Some people buy houses as assets or for security for their kids. But I get your point Grant.
John Smith A home isn’t an asset unless it’s creating a cash flow. If you’re liable for paying the mortgage every month it then becomes a liability my friend. Real estate is very tricky. Asset vs liability.
@@troyboyd4396 gold doesn't provide cash flow yet it's still an asset...
@@troyboyd4396 I didnt say anything about a mortgage either bud. Go preach your notes from Grant's lectures somewhere else
John Smith Gold is illegal in the United States young man nothing is backed by gold anymore only labor
John Smith We been off the gold standard. Your money is backed by your labor. Take gold to the bank and see what happens 😂 jail
Great video 👏🏼
Living in France, unfortunately only bought single family units so far but will be looking into multi unit family because I completely agree with Grant Cardone. He is a visionary, even when he said that office spaces will be disrupted, 3 years after the video with the pandemic crisis we are in, and home office work increase, we can see that he was totally right.
COLOSSAL VIDEO MR. CARDONE !! IT makes complete sense "To rent where you live & own what you can rent out " . I want to thank you for your advice on have direction on the REAL ESTATE INDUSTRY MR. CARDONE 🤝🤝🙋♂️
Great insight, thank you for taking the time to share your knowledge.
UNCLE G, JUST WOW.
You The Man.
You said it all
Persia Shoar hell yeah Utah SLC 801
Love you Grant! I have 2 copies of Richest man in Babylon, started listening to Dan Lock and Dan Pena. But your message seems to be crystal clear logic to me. Now it's 99.9997% chance you wont ever see this message but It's more for me to express my gratitude than anything else.
I read richest man on Babylon 6xs I love this book
jimin kim schmitz in
Grant I am the same guy you started out as. I know nothing about Real estate. I watch tons of vidz and have read 2 books. Good info from everyone however your 13 minute video has been invaluable to me about multi fam homes. I sold my house that was paid in full and now rent. On my way to learning the journey. Excellent vid and very motivational. Thanks and keep the vidz coming. New subscriber. Rocky
awesome video Grant with real practical advice. Thank you so much!
Grant I really liked this video! That backround captures more and better attention! Also the sound of nature!
Entrepreneur Talk ayyyyyyyyy
One of the most detailed and thoughtful GC videos, thank you!
Hello there 👋, how’s it going?
Wauw Grant! Thank you so much for all those Grant information videos. I learn alot from you. Im starting my own company soon and this is really helpfull!
I live the uk and this is a great video thanks Grant much appreciated brother.
I thought he's 35y old and i check up hes 61 wtff. And then i see he's birthday is same as mine, thats a good sign.
Great video, solid information. Thank you GC for taking time out of your day for these videos and much others.
Hello there 👋, how’s it going?
Your Video's Are Great. Please Keep Making More. I just found your Channel a few days ago and ive been watching all of your videos every chance I get
I admire you Grant...you are an amazing soul. God bless you more with the rest of us.
I like how this video is so jam packed full of sheer GOLD but it only has 4.5k views amazing how people only go for flashy shit instead of real value... I’m glad I watched this cuz this is all what I was thinking how I should get started...
Been following you forever...
All I can say is thank you!
Text, More insight ☝️☝️on BTC, XRP, NFT📊REAL ESTATE 🏡 INVESTMENT.
Thanks for these unconventional ideas. It really gets a person thinking outside the box.
Dear Grant you are a great mentor ,Thank you for your great knowledge❤
really happy that I found this before I really get into the important years of high school so I can try to plan better.
Props to you for learning this young. & Real education comes outside of school.
I think I've found a mentor.
He’s not a mentor though. What Grant is doing here is monetizing his knowledge! If you want a true mentor find someone in person who is where you want to be in life and ask them for advice. Grant doesn’t have a vested interest in you. What I mean by that is he doesn’t care about any of us individually. On RUclips, he cares for us as a whole because when we show up to watch his videos, we are making him money. Of course his videos bring us all value but he’s not a mentor!
Not hating, I love Grant. There’s just a lot of misconception with mentorship out there. Hope I didn’t offend anyone by trying to clarify.
@@2doorduude Salute to you for being honest and showing common sense on RUclips!
Jeff Berwick is your new idol. Do what he says and you will have it all .
then you've been played by a salesman
Not only a mentor, a walking inspiration
THANKS! I was thinking and had the same logic that you're preaching instead of listening to my peers and buying a single house and waiting for the equity. But my logic was that I'm bound to it monthly like a ball and chain (on a larger scale). Your explanation just solidified the trust I have in MYSELF. THANK YOU!
I stumbled across your video with Steve Harvey around 10am and it’s now 12am the next day. I swear you are a God send to me!
Annnnnd I'm now a Grant Cardone follower! WOW! Can't wait for Monday's even more now!
Marshal P. Gillen don't hold ur breath
Rent where you live, and own where you rent. Great idea
Grant idea
I’m single mom in debt right but I’m taking notes. Thank you for taking the time and sharing your knowledge!!
I like very much your advices. I started recently by accident to watch your videos. Your speech made me to become excited about real estate and focus my energy to make money from this category of business. Thank you very much for showing me the way.
I buyed a house with 3 apartments and now I renting out 2 of them. so I live in my own home for free. Thanks so much for your advice, I think my next goal will be something much bigger. but we all have to start somewhere.
Good Morning Good Afternoon and Good Night Lol 😂
This is what I do my friends good advice. I own 24 rental properties and rent where I live for the past 12 years.
There were many people like you in 2007 also, they had no properties left in 2009 and personal debt they couldn't repay in their lifetime. Grant makes money selling his content, he doesn't make money in real estate. Just be careful.
49fiori his net was like hundreds of millions before he was on RUclips.
His video isn’t even monetized , ie he makes no money on this video.
Troy Boyd So his formula works with the multi family units?
U live with your tenants
Darius Jones Yes definitely. I have a 4500 monthly in rent however I never spend my own money. My tenants have been paying all of my bills and still profit every month so far. I would advise you live in one of the units of a multi family property and pass all costs unto the renters.
Thank you so, so much for this advice, I've learned so much from you.
Thank you for all the knowledge!!
Yes, I definitely will stay tuned, after I bought my first home and watching a lot of documentaries realizing the "American dream" is a scam, I never looked at life the same again, but renting a home never crossed my mind, but everything you're saying DOES make sense/ CENTS
Hello there 👋, how’s it going?
That's what I am doing now. I know how it feels. I own 3 units and I rent to 3 people. I live in a place I rent. I making over $2000 profit after paying my 3 units bills and my rent. It feels, I just started real estate investing less than a year ago. Thank God for life and every opportunity he gives me.
Hows it going now?
Thank you Grant for the great advice.
Uncle G. Hats off to you man. I love the rags to riches, The come back kid stories. I’m so glad I became part of your community.
Hello there 👋, how’s it going?
I had a buddy in Rochester MN that bought and owned rental property before the Real estate bubble burst a decade or so ago. He actually sold all his property just before the collapse, but he said the same thing. No single family dwellings, ever, period. He didn't even like duplexes.
Hello there 👋, how’s it going?
I absolutely love this. Wish college would have taught me this.
Wish high school would’ve taught me this
Never 😂
Cardone university bro
They are here to TAKE your money and to enslave your mind not to Teach YOU!
If it did we would all be rich
Thank you, Sir. You're gonna be my mentor!!
I love raw advice like this,thank you uncle G.
thank you for this! found you through the youtube ad watching tai lopez haha. i dream of owning an apartment complex "one day" within the next few years. Your advice gave me a lot more clarity about how to be successful in this! 😄
Wow... just opened my eyes...
lol wtf
Hey Grant! I just discovered you! And I really love your stuff. You're totally authentic and I believe you got my back! Thanks for sharing your incredible methods for wealth creation. I'm going to get started now!
Hello there 👋, how’s it going?
uncle G I need more tips and tricks! very hangry to watch your episodes and learn more, thank you god bless
Grant, fill in the gap between 1 abd 38 units? And, love the advice.
never heard of you bro, but excellent message. I've been a real estate investor 25 years myself, very few people know this strategy. Let others pay your living expenses.
...While you provide them for a place to live...
Your awesome I’m looking forward to starting real estate just need more tips so I will keep watching you
Thx you for helping us Grant!
There is a valid reason why you have 1 million subscribers and you just earned one more
My man!
Great post. I've tried to explain this to many people who are brainwashed into believing they need to own a house to get ahead. In reality a home is the biggest debt trap for most people. It holds them down and restricts their options. Once you look at inflation and the market plus the other costs you end up being behind.
Owning homes makes sense when you're renting them out but if you're living in your home you are consuming and not investing it. At best you are speculating that it will be worth more in the future. Which in many cases you don't. That's what people found out in the last crash.
I've made many videos about the great lies of life (school, house, job, etc.) and this is a big one. Great video!
own nothing... control everything!
Ever heard of equity? Or a HELOC loan? Come on now, when you rent you’re basically paying for someone else’s investment which is counter productive to what you’re trying to do when you’re investing in real estate...
Infinite Transcendence when you renting your consuming too..you have to pay to live wether you pay rent or mortgage..
decent self promotion
+Devin
Renting is very convenient, especially with houses...and when you think about it, you take out a 30 year mortgage to buy an overpriced house....for the first 1/2 of those 30 years almost all of your payments are going toward interest not principle, and so you really aren't gaining anything. You only "win" if you are able to pay off the loan before the mortgage note matures OR if you are able to flip it at a profit. Of course, you may end up buying in at the market top and when the home values plummet you're stuck with an upside-down mortgage liability and trapped in a house that you probably won't be able to continue making payments on. Either way, the bank wins and you get screwed over. The system is not designed for plebians to get ahead.
Hi Grant! Just started following your teachings, and am reading The 10x Rule. My question: Are there tax advantages for renting the home you live in? Also, Is that home owned by another person or is it owned by your corporation, and you rent from the Corp?? Love this idea! Actually been thinking this way for a few years now, and here you are preaching it!! Love it!!
Man i love this, I watched once and now the second to remind my self about what is a liability vs asset. Thanks
👍Yep I was told & sold that crock of crap about working a job & buying a house etc etc! I've owned my own home since I was 19 years old when I bought my first home & have bought other homes & a couple of vacation houses (that sat empty until the next time I could take time off) etc etc! Now that I'm AWAKE...I'm in the process of changing how I do everything! I'm selling this 3000 sq ft sticks & bricks B&$ch that I currently live in as soon as I can!! Think of how much further ahead I'd be if I had WOKE UP 25 years ago!! Just Damn! 😔
Can you show us what some of these multi-family homes look like or the types of areas we should be looking at?
Oh uncle G I just love you so much! This is a damn Great message for me 😊!
Can’t believe I’ve been missing out on all these gems for years.
Better late than never I guess:)
I love your advices...
More videos like this please.
I'm glad I saw this. I've had it wired in my head that I NEED to buy a house and live in it. Thank you for sharing your experiences and wisdom!
Hello there 👋, how’s it going?
Good advice Grant is improving he made a nuanced point
Great! Thanks Cardone, thanks... U just helped me re-affirm my conviction
you do a VERY good job helping people with those advices, thanks a lot
Always gives great advice, down to earth guy.
Hey...are u spying for Dave Ramsey??? LOL just kiddn. I love listening to em both. After I listen to Dave I know I did things the right way according to him but it took 30 years and when I listen to Mr. Grant I feel like I can conquer the world and whoop my weight in wildcats. LOL he's very inspirational. GB
Makes a lot of sense
for dumbarses
thank you so much for this Grant. You have no idea how appreciative we are for the knowledge you give. God bless.
Hello there 👋, how’s it going?
I really do appreciate your video. its eye opening. wish to get more up lifting videos like that. thank you
Love it, Grant. I'm selling my townhouse for 550. Owe nothing on it and get 2500/mo. I plan to invest in multi family with money. Than you for inspiration!
did u ever?
@@jaredtheboss I ended up changing my mind and keeping my townhouse renting it for $2600/mo. Think its a great passive income. I'm considering on selling my house to move to Florida, possible rent or downsize. A bit uneasy because I feel a housing crash is coming. Not sure what is the best direction atm.
@@pennypincher7383 may i ask what ur purchase price was..was it cash..how much mortgage debt and how r u cash flowing....im 25 have 60k in cash...and im so hungry to do my first deal..either a sfr or a condo 2bed 2 bath to rent.....i have heard many ppl said its gonna crash and to be cautious ...depends where u live...im in NY and its pure shit...floridas beautiful....it all depends..where u at
@@jaredtheboss my townhouse sits right outside Boston. I bought it for 350 and paid it off almost 6yrs ago. Currently, I can probably sell it for the amount mentioned above. I have a house that I bought for 600k putting down 20%. The value is now over 800 and I owe 400k. I visited friends in Tampa, Florida back in April and absolutely loved it there. I'm actually going back next month for a little over a month to get the feel of living there which is why I'm considering of relocating. Should I wait to move and see how the market turns out?
I pay 738 monthly rent. I receive 1800 + 1400 per month from tennants that live in my 2 homes. I pay my property manager 8% of revenue. I love it.
Thats an ok small deal... Unless one or both move out and takes you 3-6 months to re rent
Parking lot in a garage here costs $350/month alone.. wish we had prices like these.
DH - You must live in a shit hole.
$738 rent? You are living in a box
Your amazing I truly appreciate the information & knowledge I have so many questions about how to get started 💕
I’m so excited I heard you say this. I’ve had been thinking this exact thing and people called me crazy.
@grantcardone will you please do a Monday episode about deferring the taxes? Thanks!
Jon Mitchell he is referring to the 1031 Exchange when exiting the deal and acquiring a new property. You should talk to your CPA about it.
Jon Mitchell @grantcardone I'd love that deferring taxes episode as well.
I’ve owned my house for last 5 years and I’ve never felt better to own my piece of land. It’s just peace of mind. I’ve also felt very confident and grown up having a place of my own. Trust me you’ll like it when you own. Just be responsible.
We never truly own anything. We pay all kind of taxes and ridiculous expenses. But I don't disagree with You.
@@shawnbruce6934 Ain’t that the truth? Don’t be somewhere where the property taxes are insane!
For others, it's a burden, due to the costs of upkeep (taxes, maintenance, insurance) and the fact that it prevents you from readily moving if you want to. Ultimately I think the decision to own/rent comes down to lifestyle choices moreso than financial.
Love that guy!! She's such an inspiration and mentor!
June 2020 and this info is more significant now than ever before! Amazing.
It depends on location where you buy. For example in Paris, buying an house has no sense. You can rent much cheaper than you would pay to the bank.
Who owns the house or apartment then? Somebody must be the owner...
Thanks Grant.......very cool, love learning from you guys. Mentor me. Mwah!
thanks for this simple life changing video. i hove to keep seeing more techniques and real study casesfrom you
This is the best advise ever, .....glad I saw this. You've got my Sub