Why You Should NOT Invest In Real Estate
HTML-код
- Опубликовано: 2 ноя 2024
- 90% of all wealthy people invest in real estate but do you actually need to invest in real estate to get wealthy too?
As an investor with over 8 years of experience, I've seen the ups and downs of the real estate market and while it gives me passive income and has grown my net worth tremendously, I've also lost a tremendous amount due to my mistakes.
In this video, I’ll share the true side of this business and why you should NOT invest in real estate.
✅ Attend our FREE "How to buy your first rental property masterclass" here: goodsweethomes...
--
✅ ✅ Take our online quiz to find out your money character and get personalized tips in your inbox! goodsweethomes...
► Get $250 and up to 4.6% APY when you open a High-Yield Savings Account with SoFi: goodsweethomes...
► Get up to 12 FREE stocks worth up to $30,000 when you open an account with Webull: goodsweethomes...
► Create LLCs for your real estate portfolio with Anderson Advisors: goodsweethomes...
Visit our Website! ► www.goodsweeth...
Follow on Instagram! ► / seanlovesrealestate
#realestateinvesting #realestate #realestateinvestor
*Please note that the information in this video is for educational and entertainment purposes only and should not be taken as financial or investment advice. Any investments or financial decisions you make based on the information in this video are at your own risk. The links in the description above may include affiliate commissions or referrals, and I may receive compensation from partner websites. The information in this video is accurate as of the posting date but may not be accurate in the future.
Love that you presented this perspective. Many people online only want to present the positives because they get more clicks. Even though it's not on purpose, it can sometimes create a false perspective that you can't lose. People need to make sure they understand what they're getting into before they start. Awesome video!
Every business has its own risk. You need to make sure you understand how it works. Thank you for watching! ☺️
This guy have no clue!! This is the best safe way to make profit. This is how I make my money!! This guy definitely bought high or late.
I'm a Landlord and I totally agree with this video. I especially agree with this video at the end of this month when I get the rental payments.
Appreciate you watching and sharing your thoughts!
The content is good, and the editing with this content is great❤
Thanks! ☺️
People say its not a get rich quick, but that is subjective. If you build the funds you can 100% make very good money back fast when you take on better quality properties that attract higher/more stable earners who are more likley to pay 6 month/year advance rents. Stack a few properties with this, and you have instant net buying power for reinvestment.
Your portfolio grows at an even faster rate that all incur inflationary gains sooner rather than later.
I think this may help me out into the future😁
Cool! ☺️
These things can happen and have.
1 If the neighbors want to screw you with the community board to jack your taxes 20 times higher and the city wants to steal your property no.
2 If you are in a state were ti costs over 5000 to hire a lawyer to evict and can take at least 1 year then dont.
3 If the lawyer you hire lies and and makes a front company to put your property for sale to list it in the newspaper 500 miles away in a small town where no one lives in an auction and the local judge ok it so that they steal your property then watch out.
4 If the lawyer also steals your money with other means and the city District attorney wants you as a witness after the lawyer fled the country then watch out.
5 If the sidewalk has a crack that your cant trip yet the city charges you over 10,000 to fix it and someone else is proven in court that they trip intentionally as a job on properties to collect money and the judge sides with them then shit.
6 If you win your cases in court and they appeal due to your lawyer messing up well some say hire another lawyer for another 20k or 50k
7 if you dont mind having an arrest warrant on you for not showing up to court without being notified about the court of anything on a property that is hours away it can happen.
8 if you think you can trust others to manage your property yet they intentionally mess it up and dont notify you by taking your mail and they take the property and you take them to court the judge will say its your fault for letting others even a company manage it.
9 If the town snow removal vehicles hits and runs your home to crack the foundation and the town asks for higher taxes for a home you are not allowed to enter after they damaged it which the taxes cost more than the property and cheaper for them to steal it form you then run.
10 if you buy a home that has a porch and years later you get a bill from the sity for having a porch which the statute of limitations pass for the lawyers and the closing agents then poop.
11 if a tenant delays the court for over the statute of limitations and they get your home for free.
12 the real-estate agents are not your friends since some will lie and and waste your time and not find a tenant or buyer.
13 you will get fined for other peoples garbage they throw on your sidewalk or property even if you are away for a day at times so depends how strict the place it. Even if the tenant thrown junk in the trash that should not be in or a stranger you pay the fine. If you give free internet you pay the fine and do to court if any issue.
14 you pay the taxes yet the previous owner owned money and they sue you as well since you are the new buyer which can take years to fight and it will as usually cost you legal fees.
15 do not deal with historical homes since you can not change anything and you can be sued for it.
16 if you dont know how to fix things then you will make less every month since something always breaks.
17 managing companies take too much and you have to be on call all the time like a prison you cant go far.
18 If you dont have insurance and get something they will jack your rate higher and higher even if you are near at 5 miles from the water despite being over 400 feet up.
19 hire a good lawyer they will charge you so much its not with it hire a cheap one they dont do it right which it not even worth the bother.
20 so many regulations you will learn when you start paying even if someone parks their car on your lawn and you dont notice it you home will get fined despite not your car and sometimes you are fined wrongly, and good luck fighting it in court which can cost an entire day waiting on the line and they want money for the judges to lie with the city attorney to lie and after they show they like they dont care and say well pay half the fine despite they are wrong or else pay the full.
Some lawyer live rent free for years on 4 million dollar property with taxes over 100k a year which pile up and good luck getting them out and so the property is gone
Also the banks would rather lose more money on legal fees to fight you than what the property is worth so dont underestimate the stupidity of the banks since its not about the money its about screwing people despite they have to pay a fine at the end since most will give up or have a bad lawyer to fail.
sometimes even those short sales or other deals can be an issue since the bak has its own people to put in and will sell it for less to their people than you despite they know its improper.
Those are just a few of them. if you eventually try to sell your 2.7 million dollar property you can get if lucky with a lot of stress and years wasted on to get less than 300k and the judge will with with the opposing lawyer to screw you and if you want to fight that it will be another few years and more legal fees.
You think shit like this doesnt happen? those happened and worse. You have to litteraly sue the bank and it can take 15 years and you win and the bank has to pay a fine to you but the money was not worth the effort. You are dealing with many criminals liars or incompetency from banks, lawyers, judges (you cant do anything to them unless you are in Europe to sue them for corruption), agents, inspectors, insurance agents (yes they got sued and some went to jail), city officials, communities, etc. Choose the right state it important since most states have their own special issues.
A good property is like winning a lotto. The interest on the mortgage is the least of your concerns.
If you want quick money best to buy in the crime filled locations and maybe then it will be more profitable to deal with them which honestly its cheaper despite needing a lot of work and crime can do damage to home and pays better if all goes well but it comes with its own risks as well which you need protection but it does pay better.
If you want to try buy something cheap to learn the various ways they can screw you.
in short if you like looking for trouble then this is right for you.
Please work on your grammar and Puntuation.
I don’t think people have time to read a book in the comments section
Dont expect most to read a rant. Just stating some issues no one mentions.
Hi Sean, can you share us your thoughts about Rentberry? Would you invest?
*Amazing content. You are still the best! It's been a year since I found ways to improve my finances and by working with a recognized professional, I was able to achieve financial independence. I have to say this; “As long as you have determination and work hard, you can achieve anything you set your mind to.”*
Thank you for sharing your experience great video
No problem! ☺️
I’m gonna invest in real estate
As an investor with 8!!! years of experience😂.
Lol come on, got to start somewhere. I began investing 4 years ago when I was 25, got to start somewhere.
I bought a new house before covid was a thing. I wana sell and move so fucking bad but id be throwing away money if i did.
Keep it and rent it out!
Many people think compounding in real estate only in form of appreciation but real estate offers compounding also through ammortization. Many people think that real estate gives bad returns than stock market but it can give crazy returns if you do it right. Suppose someone bought a property worth 100 k with a 20% downpayment and suppose appreciation is 3% and you paydoen loan (principal) by 3% by making extra payments you can get 6% returns on property which is worth 100k but you can get 30% returnson what you invested in just a year at this point cashflow dosent hold much importance.
Note - the scenario I have shown is a really healthy scenario here I have neither expressed risks nor losses in the sector. Real estate investing includes its own set of risks one should depend on own study and experience before doing any type of investing
My Name is Sean
It's a good name :)
Facts
👌🏼
those who advise you to be a real estate investor probably sell your courses or they are the real estate agents / or they are the investors want to sell out their houses ^^
waouh j'aime ça
8 years of experience..!!! Lol.
Bro, you have no experience.
I still appreciate you commenting. ☺️
Too big too quickly 💯
For sure!
First
Amazing video!
Thank you!