Owning vs Renting -
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- Опубликовано: 12 июн 2017
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Rent Where You Live - Own What You Can Rent
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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
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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 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👈💪
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.
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 😆
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 🙏🙏🙏
I like this dude. He's just flat out likable. Thanks for the advice.
I agree. I’d rather buy a home to rent it. I’d own what makes me income
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 😂
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 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
I figured this out about a year ago. I sold my house and now have 3 rentals. They cover the money for my rent in a better house and my car payment. My savings will now go into another rental and then another. By the time I get to 10 (which will take me another 5 years, I'll be 43) I'll have around a hundred grand a year in income, which will match my normal income. This strategy works :)
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.
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
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.
Rent where you live, and own where you rent. Great idea
Grant idea
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.
I love Grant! Always going against the grain, yet continues to make perfect sense. I just love him!
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?
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.
Thank You Grant! This video really opened up My Eyes.
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
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
I don’t know about people just watching this for entertainment, but for me this is golden because it’s straight forward, knowledge that has been tried and true and it has costed money , hard experiences , mistakes Grant is the coolest rich guy I’ve heard share knowledge influencing the shit out of my aspirations, watch , I’m up and coming...
I'm 51 years old and I have recently been shopping for my 1st single family home...change of plans after watching this. Thank you for the great advice
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.
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.
This idea will work not only with Real Estate, say a photographer, wanting to take great pictures, he (I) could get enough people to deposit a refundable fee for their photo session, use their money to rent great kit and so on...Thanks Grant, a real eye opener and makes so much sense!
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
You give the greatest wealth of free advice being offered online, Grant. Thank you.
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?
I'm finding myself rewatching videos, learning over and over....thanks again Grant
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!
Grant I really liked this video! That backround captures more and better attention! Also the sound of nature!
Entrepreneur Talk ayyyyyyyyy
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
Truth! I have 6 units now and I just started, not stopping!
Yes indeed! Thats wiser to rent the place you do live in, and use the cash to invest in a property thats generates a passive income.
UNCLE G, JUST WOW.
You The Man.
You said it all
Persia Shoar hell yeah Utah SLC 801
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...
Thank you,much appreciated the time(irreplaceable time) you put on this.Gratitude 🙏🏾
58 units later still going baby! I watched this video 4 years ago when I only had like 12 and just keep blowing up!!! Watching again 4 years later and man so many things you said came to be truth !
Text, More insight ☝️☝️on BTC, XRP, NFT📊REAL ESTATE 🏡 INVESTMENT.
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?
As a guy who comes from four generations of property development, bought my first home at 18, also have my own property development company, I can easily say, BUYING PROPERTY IS THE BEST INVESTMENT, YOU CAN MAKE.
Just make sure you know the price average for the area so you’re not buying at a high price.....
I admire you Grant...you are an amazing soul. God bless you more with the rest of us.
Hey Grant thank you for this video. Never would have thought this way before but after listening you make 110% sense.
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 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...
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!
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 🤝🤝🙋♂️
There is a valid reason why you have 1 million subscribers and you just earned one more
My man!
Wow... just opened my eyes...
lol wtf
Love that guy!! She's such an inspiration and mentor!
Wow!! This advice is priceless!!! Thanks for taking the time to do this.
Been following you forever...
All I can say is thank you!
Text, More insight ☝️☝️on BTC, XRP, NFT📊REAL ESTATE 🏡 INVESTMENT.
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.
Dear Grant you are a great mentor ,Thank you for your great knowledge❤
I love raw advice like this,thank you uncle G.
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...
One of the most detailed and thoughtful GC videos, thank you!
Hello there 👋, how’s it going?
I think this definitely makes sense if you are someone who wants to live in multi million dollar homes, BUT if you are happy living in normal houses, the cost of renting is much higher than owning unless you plan on moving in less than 3 years. Although, it is a good idea to buy a rental home before buying a house to live in, or like has been said by others, by something to live in with other renters.
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! 😔
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
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?
June 2020 and this info is more significant now than ever before! Amazing.
“Office spaces will be disrupted” - Welcome to 2020
GC is a visionary
What did he know then... lol
he knew market dropping then. hope u well js.
Yep it was going to happen anyway with teleworking etc covid just speeded things up.
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?
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
It's fairly easy for anyone who can operate a spreadsheet to find out if it's better to buy or rent where they want to live. If you're in a high cost area, it'll probably be cheaper to rent because property speculators will be sitting on houses hoping to build equity.
If you live in an area where it costs $2200 a month to rent a house that costs $225K, then it's not going to work out in your favor.
I own my house, I'm not a borrower and the equity in my house builds at the same rate as it would with a rental property. Loan+insurance+taxes for a house like mine is about $1300 after an FHA loan. Rent is at least 1 1/2 times that and increasing. I maintain the responsibility for maintenance and improvement, but at the cost difference, that can be folded in.
If it costs $600k to buy a house that you can rent for $2800 a month or whatever it may be in some areas, then the situation will be flip flopped.
Perhaps the most important thing for people to realize is that everything in life isn't just "always do this" or "always do that". It's important to learn to figure out what's intelligent and do it.
My spare dollars are almost 100% equity invested because it appreciates faster than anything else at this point, and it requires me to do nothing. The small percentage of people who don't have enough qualified options to dump money into have tax issues that I don't have.
My parents don't believe in the market and bought income producing open land. $1.1MM worth of open land that has made about $45k of income per year on average now for over a decade. It's farm land. after costs and taxes if they sell it (which they're thinking about doing), they'll net somewhere around $500k in appreciation - post tax, plus the income less taxes that they've had each year (average 35k).
That makes their annualized after tax return about 5.25% per year. they also needed to have the capital available to buy at that. (actually, the annualized return is slightly lower, I forgot to count taxes on the rent income).
If they had invested in something simple like the vanguard total market index, their after tax return would've been about 6.7% per year, and they wouldn't have needed to do anything (they needed to chase non-paying renters for a couple of the last 15 years). That after tax return for vanguard includes the horrid 2008 market year, but they didn't have a current need for cash and would've been foolish to sell. The farm income includes the same dandy period during that time when crop prices were up and rent was up, too.
what's the difference between what they have now after investing $1.1MM and what they'd have had if they just stuffed money into the domestic market? About 23-24%. And they haven't found a buyer for the land yet, though they've been trying for 3 years. They could sell the equity fund at any time with a mouse click or a phone call.
That 23-24% difference in appreciation is about $570,000. That is, they'd have about $570K more right now in actual value than they would if they manage to sell their farm tomorrow for the ask. They were smart and only bought the land around the farm and sold the buildings to someone else who wanted them, so it is bare land only.
What people need to realize about buying OR renting is there's no reason to fall in love with your house. The structure is depreciating. Don't get in over your head and get stupid. the bigger and more expensive the structure, the more the maintenance cost and the higher the depreciation on the actual structure if it remains unimproved.
Coming from the man who makes the bulk of his wealth from renters (4000+Rental Units). Keep in mind, this works for some but not all. You must do what's practical.
James S
What kind of personality or skills does it take to make it work?
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?
I’m single mom in debt right but I’m taking notes. Thank you for taking the time and sharing your knowledge!!
You changed my view on one family houses versus apartments. Thank you for that sir
Text, More insight ☝️☝️on BTC, XRP, NFT📊REAL ESTATE 🏡 INVESTMENT!💯✅
Buy a small duplex.
Live in one side, rent the other.
Or a B & B maybe.
Debbie Hahn I bought my duplex in October of 2008 and I'm still in it because the rental income and the tax write-off's gave me the cushion to take financial hits.
Think a little bigger
That's a way to start
1) You do not want to live by your tenants. You want to manage less, not more. More face time is more problems. Ideally with scale you hire someone else to manage.
2) You miss out on the rental spread by doing this. If you are good at renting your units you can rent them for above market rates and then you rent from a landlord who sucks at advertising / is lazy and you rent for below market rate.
When you're first starting out, every bit of spread makes all the difference.
Yea I had a friend you had a three bedroom unit and was living for free because 2 other tenants where paying it off plus some more
Date who you like, marry who you love.
Vinny Ocean blue pill.
Red pill: never get married, lease many women.
Thé opposite just does not make sense !
Marry a rich orphan farm girl! Lol
EyeWitnessChina marriage is not worth it for women either just a fairy tale
😂😂😂
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.
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!!
*There's no shortcut to getting rich, but there are smart ways to go about it. I realized early in life the importance of investing for financial independence and have invested with great returns working with a professional*
I've always been fascinated with investing and as such would appreciate some help on how to go about it without incurring a loss. Can you share the investments you have made and your experiences with them? Thanks.
@@ryanphilips4808 I engage in prolific investments such as:- real estate, NFTs, crpto and stocks and through proper advice and management by a licensed financial adviser (Donald Nathan Scott), I achieved good returns on investment. For a better investment experience work with an expert . That’s just my advice.
@@alicemuller9386 I appreciate this information, how can I get in touch with your financial advisor as I am really interested and want to start investing?
@@ryanphilips4808 Just make quick internet search with his name *Donald Nathan Scott* to get in touch and write him ..
Donald Nathan Scott is all over the internet and his fantastic works are leading the way. It's really hard to find someone who is truly honest and genuine in what he does. Reading all these testimonials here, I would say that he has certainly gained a lot of fame. For such a person, who is sincere and good at what he does, we owe him our support and prayers
Robert Kiyosaki made me realize this. I'm looking for a 4 unit to live in one and rent out 3 within the next 12-18 months. I don't plan on buying a house until I'm 40 at the earliest
RapperGeek Media LLC That's a good plan from a meta perspective, but details on the ground make the difference. If you're going to live in one, it better be an especially nice unit. Remember, many multiunit dwellings were not designed for high achievers. Make sure you get a trained microbiologist to inspect it to ensure that it's a healthy environment w/o unusual mold growth or anything else that can strip your health away. Make sure it has good airflow and air exchange, too, or improve the unit so it does. Mycotoxins kills, but plain old CO2 accumulation destroys productivity.
Improver thank you so much for this advice I will definitely keep this in mind
P Flaquer when you live in a property and rent out a part of it
Kristoffer Santucci yes thank you!
@Improver ....what?
Thx you for helping us Grant!
Wonderful! Paying it forward, love it! Thanks, Grant!
Makes a lot of sense
for dumbarses
Buy a 2 to 4 family like captain Ryan did and live in 1 and rent the rest -- live rent cheap or free
Thank you Grant for the great advice.
awesome video Grant with real practical advice. Thank you so much!
"did I mention i have many places for you to rent?" - GC
Hud ✨😂💪💯✨
Can you show us what some of these multi-family homes look like or the types of areas we should be looking at?
Thanks for these unconventional ideas. It really gets a person thinking outside the box.
Great! Thanks Cardone, thanks... U just helped me re-affirm my conviction
This is great information, but the key piece of advice that's missing and without which people will still find themselves at a crossroads is this: live below your means. Not, WITHIN your means.. BELOW. A lot of people who rent and don't buy, do so precisely because that's the only way for them to essentially live above their means because they could never afford to buy where they live. So, if you want to have enough slack to cover living costs AND invest, you need to squirrel away those nuts, which you could never do if you're renting at or above your means. With that being said, you could BUY below your means and accrue that equity while still buying what you rent. Can I get an amen?
Kenyada Meadows Increase your means :-)
I like the method of “how do I increase my cash flow to exceed my quality of living and save money?” Rather than “how do I lower my quality of living so that I can save from the cash flow that I have?”
Nomen
That’s the OLD way of thinking. Increase your means by creating additional streams of income. This creates more positive cash flows.Basically what Robert Kiyosaki says in “rich dad, poor dad”.
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?
Facts I agree I'm doing the same thing right now
Thank you so, so much for this advice, I've learned so much from you.
528 dislikes are people bought homes
Lol
Haha yes
The exact reason of buying a house is for people like him to pay it off as he moves around.
Or people that don’t understand.
Or want a home to retire in
Buy a house for 100k (example)
invest in your house (modernize your house)
wait 1 year for the house to be more qualified in the market
sell of the double or the triple
income !
Yeah, not until the market crashes...that's called speculation and few can
or turn it into rent for cashflow
Grant, your relentless drive and unmatched energy in every video is not just inspiring; it's a blueprint for success that many of us strive to emulate. As someone deeply committed to the art and science of human performance, I couldn't help but wonder about the untapped potential that a specialized, biomechanics-informed training and nutrition strategy could unlock for someone as dedicated as you.
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Imagine combining your unparalleled work ethic with a bespoke health strategy, enhancing your productivity, longevity, and well-being. The synergy between our disciplines could set a new standard for what's achievable, serving not just your goals but also inspiring your audience with a holistic approach to success.
Would love the opportunity to discuss how we can elevate your already impressive journey to new heights.
Thank you Uncle G!