If you can't even read I'm not sure this video is even directed at you

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I get excited when I talk about real estate :)

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Crypto-currency favor seems to ebb and flow drastically. It was all the rage in the latter half of 2020. Then by mid 2021, it lost it's popularity along with half of its value. Then it was crypto fever again in late 2021 but by mid 2022, people who had bought in during the craze of late 2021 had lost a fortune. It's had a great year here in 2024. But judging by the past, it may be due for another crash. Meanwhile, there are no tax deductions when you acquire crypto; you can't increase it's value through innovative improvements or better management; you can't get the lowest refinancing rates with the longest amortization schedules on loans borrowed against it; leasing it is not nearly the same as real estate and all the while, you can enjoy your real estate (such as a vacation rental) unlike a digital footprint. We've had some ardent supporters of crypto try to convince us of it's superiority to Real Estate and thus far, no one has been able to do it. Real Estate is still the king of investments.

Bitcoin is a currency. Just like dollars, it has no intrinsic value. It should be viewed in light of this fact. Therefore, you might be able to use bitcoin, like exchanging foreign currency for dollars, in order to buy things of value. Real estate has intrinsic value as an investment. Most people don’t think of dollars as an investment and since bitcoin is simply a currency, you should also not think of it as an investment. Bitcoin’s original intent was to become decentralized as a currency. It has unfortunately not accomplished that and actually now acts more like a stock, but the worst and most volatile form of stock. So I respectfully disagree. You should endeavor to acquire things of value using either bitcoin or dollars. But acquiring massive amounts of bitcoin is likely not going to end well if you don’t actually invest in something which can deliver returns over the long run.

@@Michael-vc2cs I'd like to remind you that all value is subjective, a home has utility and its price should reflect that use case. Investors have realized that capital is best kept in commodities and real estate instead of accumulating and storing cash. This has artificially inflated the price of housing and commodities creating a problem in society fomenting homelessness and other problems related to the cost of living. Those who found utility in bitcoin are benefiting, especially those who discover it early. Once the mass of the population discover it, the price will stabilize but at that point it will be much higher, and the price of real estate will drop as it won't be used as capital storage. Better study its value proposition so you too can benefit.

Yes. The reason is because US real estate laws are based on English Feudal laws and so is Australia. Canada too.

Hi Phil. Thank you very much for your detailed reply, it’s greatly appreciated. One last question, we have a 3 - 4 % stamp duty in Australia, when purchasing a property. Which you don’t have in America or Canada. Is there a way to creatively avoid paying that? Or do you have to factor that in and try to find better deals in order to make a profit? Please let me know. Thank you for your help, it’s greatly appreciated. Cheers Oliver

@@oliverdoring7106 We have that in certain parts of the US. For example, in Washington State, there is a 2% recording tax that is calculated on the purchase price of the property. Philadelphia Pennsylvania is 4%. And many other states have recording taxes that range from 1-2%. In some states, there is no way to get around it; but in others, we record a Quitclaim Deed with a $10 consideration to transfer title. There is no title insurance but it saves the recording tax. However, in states like Florida, using a Quitclaim with $10 consideration only avoids the tax if there is no loan on the property. Otherwise, whatever the loan amount is that is being taken over Subject To becomes the purchase price. I learned this the hard way when the State of Florida sent me a bill for $5,000+ some 5 years later on a deal I had recorded a Quitclaim Deed on a Subject To.

Hi Phil. Thank you very much for your detailed reply, it’s greatly appreciated. Cheers Oliver

Why don’t you think that will happen?

@@freedom_mentor I listen to energy experts. Not the crap trump spits out of his mouth 🙄

Good point! Interestingly enough, if a mass deportation prevented increased home building, that would reduce inventory even more (which helps creative real estate investors like us). So we win either way.

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