What's your take on renting vs buying - what's better? Let me know in the comments section :) Have a great day and hope you achieve everything you set out to do! -Charlie
@MrErichuizer11 ай бұрын
We choose to invest the money it would cost us to buy a similar house, since our investments make more then our monthly rent. So we rent.
@steveshow-tos539411 ай бұрын
I’m in So-Cal and I chose to buy. I moved around a fair amount for my job, but decided to buy my current house and then rent it out if I ever moved again. I didn’t move, so I still live in the house I bought. But I was lucky in three senses. First, I bought a small house in my home town in Oregon back in the day when I was 20 in 2001 and where prices were lower, which gave me a small bit of equity for the down payment on this house years later. Second, I live & work in the IE (inland empire, which is an hour from the beach & LA) where things are cheaper. Third, I’m into DIY stuff, so buying a less expensive historical fixer upper from 1888 was just right for me. In the six years since I bought this place, the market has doubled and I have the equity to move to a more expensive area now, if I want to (though I like it here, so I’m staying). In sum, starting small wherever you can and letting equity work for you can be a workable strategy.
@habiburrehman-d9u11 ай бұрын
brother i want to connect with jeff . He is not coming on my search-linkedin
@ml-bk9rz11 ай бұрын
@@MrErichuizer This seems like a pretty good idea as long as someone can establish a good relationship with their landlord.
@yankinwaoz10 ай бұрын
@@steveshow-tos5394 1888! Wow. Must be a Victorian. I think that is too old to be a Craftsman. Anyhow... they sure built them better back then.
@jasonsiu144111 ай бұрын
the first guy who is 21 is so well spoken lol, I'm 20 myself Im nowhere near his speaking skills
@CharlieChang11 ай бұрын
Yeah he is such a G - young and a real entrepreneur
@supreme_zeeyus11 ай бұрын
You can tell he put in the time to get better at it, you can also improve 🙌🏾
@KhmerH2011 ай бұрын
he's definitely has the zen sort of vibe.
@baldeagle471011 ай бұрын
i really cannot believe he's 21...he easily has the maturity of a 35 year old
@yeetya320311 ай бұрын
Nah dude talks like an NPC. But respect to him
@ATLJB8611 ай бұрын
From the people I talk to, they don’t want to be stationary. They like moving from place to place, city to city, country to country. Nobody wants to sit in the same spot for 30 years. This was years ago when I was having these conversations so reasons are probably a lot different now. More circumstantial things. I just know the younger generation likes to move around.
@CharlieChang11 ай бұрын
I like that! That makes a lot of sense
@Boristhebulletdodger8611 ай бұрын
If you noticed. He listened more and didn’t divulge info from the question. “Don’t say 7 words when 4 are needed.” I struggled like you in my early 20’s too. Good luck.
@HannahCoziCorner11 ай бұрын
That's so true
@FreedomPlaya11 ай бұрын
Yes, what makes the most sense is buying Investment properties 😊
@Bojaxxx11 ай бұрын
I hear this a lot. I have bought and sold 4 houses so far (I'm 31) and I think people should stop associating buying with 15-30 years. I bought my first house for 30k sold it for 80+k in less than 6 months. Same time frame with my second. My point is you can buy a home and move every year still and if your smart actually make money at the same time. Just a my two cents.
@brandcoachangel10 ай бұрын
Asking people why they rent in SoCal is similar to asking people why they rent in NYC, these are two of the most expensive places to live in the world. I’d be curious to see what answers would be for people who live in other less expensive cities.
@AENG199110 ай бұрын
I was thinking the same.
@amirhamza12210 ай бұрын
I’m from Northern Jersey, renting was nearly impossible for the middle class unless you have government assistance. I moved to Pennsylvania with my then girlfriend (now wife) and at first a one bedroom was 1400 in a new place. Last month, rent went up to 2000 and none of the jobs paid enough to be able to afford that. Now, we live on the gulf coast since I inherited a house. The wages don’t match still, but at least we own the property. It’s a bittersweet situation, because owning property has its setbacks as well.
@AwokenEntertainment9 ай бұрын
the average age to buy a home in our parents generation was 27, for this current generation the average age to buy a home is 49
@ismaelmasso66627 ай бұрын
If ever 😐
@fauxbro19834 ай бұрын
Average house was alsov950 sq feet
@checreates10 ай бұрын
Something people don’t talk about is buyers remorse, mixed with the unexpected payments you take on and may possibly not be able to afford. The cost of buying and being responsible for unforeseen fixes is not often shared in the excitement of reaching this “ultimate step” of adulthood and success.
@tommyboy742710 ай бұрын
Yes. But no one or very few people who bought a home 10 years ago is regretting it if they still have it. As far as now, it's a bad time to buy for most IMO due to the high interest rates and high prices.
@nolovej778410 ай бұрын
Buyers remorse for the win!!
@freemarketspeople351410 ай бұрын
Buyers remorse is an emotion to be controlled.
@TEWMUCH10 ай бұрын
Good point. I think if ppl are encouraged to buy things when they are not ready, they will likely have remorse... but for those who did the due diligence and the decision to buy fit them well, they will likely be happy with their purchase.
@user-kpkxgtj10 ай бұрын
I've also noticed people generally understate the amount their house actually cost them. They will say "I bought my house for xx dollars 20 years ago and just finished paying for it". Which means the house didn't in fact cost them xx dollars, it cost them the total of their down-payment plus closing costs plus 20 years of monthly payments, all of which of course add up to much more than xx dollars, especially if they spread it out over 20 or 30 years. Is it really possible that so many people simply don't understand debt / loan math? 🤔
@willli279110 ай бұрын
“You don’t need to reinvent the wheel, everything has already been done. Copy it and do it better.” I love it!
@yankinwaoz10 ай бұрын
I listened to that and thought "Isn't that exactly what the phrase means?"
@Priust18911 ай бұрын
I don’t think renting is throwing away money because you are trading it for a place to live
@paulcao318611 ай бұрын
Exactly my thoughts. I acknowledge the pros and cons of renting vs buying, but for me, it boils down to why would it be a 'waste of or throwing away money' when I'm able to put a roof over my head nightly - one of the necessities of life.
@user-ze4cx5sn5c11 ай бұрын
I concur. Such a thoughtless statement.
@Khanfuzed111 ай бұрын
Seriously… especially when buying a similar place will suck 2-3x the money. I have a roommate in Miami now. My total cost of living in prime building with incredible amenities is under 1800$/mo… The mortgage alone on a similar condo/apartment would be over 7000$/mo. Plus, it is rare the amenities are updated/as modern as buildings that have to constantly compete to get new tenants. So, basically i take the difference and invest it. Win-Win scenario
@MisterKelisi11 ай бұрын
I hope the first guy continues to prosper and become extremely wealthy! Thank you Kevin for your insights - very encouraging. God bless you.
@netcoded11 ай бұрын
he sounded like ai
@Lourdes-A.10 ай бұрын
Some people don’t want to buy a home because of all the responsibilities and the hidden costs that come with home ownership. Owning a home would also tie them down to one location which makes it harder to just pack up and move elsewhere.
@TEWMUCH10 ай бұрын
This is me. When I had the money to buy a home, I didn't want the responsibility and I wasn't necessarily committed to one. Now, I dont even have the money to buy one, and it's a terrible time to buy. And im still not sold on any particular location😂 but in short, everyone is not always in a position to buy one, whether that means, money-wise or mentality-wise or career-wise. Alot of times, we ignore the fact that there are lots more factors that go into buying a home,.and each individual needs to review their lives and goals to make sure, it is the appropriate time.
@janicekhuang11 ай бұрын
i was definitely caught by surprise by this interview while tanning at the pool LOL but very nice to meet you charlie :) see you around the community!
@AccentBwoy11 ай бұрын
U look great at the pool
@panchorita593310 ай бұрын
🔥
@Ryan-wx1bi10 ай бұрын
Why don't you just live somewhere cheaper to save up for a down payment on a house? Probably could have afforded one a few years ago when interest rates were around 3%
@janicekhuang10 ай бұрын
@@Ryan-wx1bi i own a house in texas which provides well for my living in california, this part was unfortunately cut out in the video.
@janicekhuang10 ай бұрын
@@Ryan-wx1bi also i did get my house for less than 3% :)
@hodgepodge88810 ай бұрын
Renting vs buying really depends on where you live. If you live in SoCal for the long term, buying is better. Unless you live in a rent controlled apartment and you're happy with it. Cost of rent is going to go up. Rent price went up over 50% in the past 10 years in SoCal. Even in areas that used to be considered "ghetto" is now super expensive to rent in. A lot of people make the mistake of increasing their lifestyle just because they earn a high income. The income might not last because something can happen at any moment. Better to maintain a modest lifestyle and focus on increasing your overall net worth. You can slowly increase your lifestyle as your net worth grows. Don't make the mistake of thinking you can spend lavishly just because your income is high. High income does not equal wealth if you spend it all every month. High net worth = wealth.
@daveariz11 ай бұрын
The first guy is well beyond his years, very mature! I hope he buys a home soon if he can afford it. Best investment I made in the Bay Area.
@kendrickpark570111 ай бұрын
Thought this too. 💯
@user-ze4cx5sn5c11 ай бұрын
what makes it the best investment?
@daveariz11 ай бұрын
@@user-ze4cx5sn5c bought it in 2015…value more than doubled so our equity is phat.
@ESW20611 ай бұрын
He looked 30
@ESW20611 ай бұрын
Damn what store Janice work at
@Cucumberflavoredmustard10 ай бұрын
Sometimes renting is better, like if you are planning to stay in an area only a couple of years and your profession moves you around a lot. It's also an alternative if you absolutely hate/don't have time for managing a household in terms of repairs, taxes, and whatever else is entailed. The first guy has a good reason too, just seeing which way the wind blows before he commits.
@bradtrades11 ай бұрын
I suspect for a lot of these people it is wishful thinking on their time horizon to buy a house. Timing is everything, and I hope we see low interest rates again when it is time for them to buy. Makes me grateful for my 2.75% mortgage.
@hardy217511 ай бұрын
Mortgage rates are not fixed over the long term, so how does it matter what prevailing rates are.
@GameFuMaster11 ай бұрын
@@hardy2175 usa have fixed rate 30 year mortgages... if you haven't paid off your mortgage in 30 years, you've got some serious problems
@FirstHandLLC10 ай бұрын
@@hardy2175What the hell are you talking about? Most people get a fixed 30 year mortgage in the US, then refinance to another fixed mortgage if the rates drop!
@yankinwaoz10 ай бұрын
@@hardy2175 Huh? Perhaps you aren't from the U.S.? Here, getting a fixed rate 30 year term is pretty common. I have a fixed 2.99% 30 year mortgage on my house.
@falka675110 ай бұрын
Yeah but how long is your 2.75% mortgage gonna last? 1 year? In Australia interest rates were 2-3% during covid and people could get that for 2 years. Then what happens... it goes back up to 6.5% and people can't afford to pay of their mortgage. So nice advice there mate :)
@likes-yv3lj11 ай бұрын
Hi I’m 8 and I make $25k/week. I started a tech company in 1st grade and sold it to google and now I get government contracts to clean remote beaches in the Atlantic Ocean. My rent is 15k/m
@jml955011 ай бұрын
Don’t forget your medication.
@jasminecontreras734111 ай бұрын
🤣
@UltimateAwe5 ай бұрын
Hilarious…definitely the vibe of this video
@JuniorShepherd11 ай бұрын
This really comes down to a conversation of people that are single/couple, vs those that have families. For families, owning a home will likely make more sense, so that you can avoid the burden of having to move your loved ones every year or two plus the added challenge of findings great and safe neighborhoods, schools etc. For single individuals, renting is a no-brainer and the way to go to maximize the use of your earned income.
@scientist20011 ай бұрын
Yes
@TopFlightSecurity41510 ай бұрын
exactly !!
@MiamiT_78110 ай бұрын
Totally agree, especially young professionals who are still navigating their careers and may have location changes to accommodate
@SemekiIzuio10 ай бұрын
Yes one is setting down roots and a foundation the other is practicality in moving around anywhere and everywhere
@sam5609410 ай бұрын
How do you maximum your profit by renting? . If you keep leasing a car as apose to maybe owning 1-2 cars . Do you spend more owning or leasing. If you think long term a house safes you 10x more dude.
@SGVFOOTBALL11 ай бұрын
Would like to see this from rich people who live in homes vs apartments. Would be harder to find the right people though.
@CharlieChang11 ай бұрын
Yes that would definitely be interesting. usually seems like people who want more space (family, etc) will eventually move into a house. That's my plan as well some day
@PelosiStockPortfolio11 ай бұрын
You can ask me your questions
@willjackson213511 ай бұрын
@@PelosiStockPortfolio 🤣🤣
@lilblackfish200910 ай бұрын
theyer probable over 40 lol
@certifiedfinest506510 ай бұрын
@@willjackson2135lol Pelosi
@YogaBlissDance11 ай бұрын
Ramit Sethi whom I trust explains that there are LOTS OF hidden costs to home ownership that no one counts. And literally investing usually works out better than money from home.
@JohnLee-ot5ed11 ай бұрын
In theory using your down payment to invest in stock market will give you better return, but in reality buying a house in a nice neighborhood allows most Americans to retire with a decent net worth. Mortgage is forced saving for 10-20-30 years. Even the most deciplined investor ended up trying to time the market, cannot invest steadly for 30 years.
@GavinWongSG11 ай бұрын
@@JohnLee-ot5ed You don't have to time the market as a long term investor in the stock market. If renting is cheaper in your area- you can simply invest the difference between a mortgage and rent monthly in addition to the down payment. Not to mention this allows you to move.
@aquila199310 ай бұрын
Exactly. The house I grew up in here in CA that my mom still owns comes with SO many hidden costs. Something breaks, sometimes the plumbing needs to be fixed, sometimes trees have to be trimmed.... it gets so expensive.
@Matys197510 ай бұрын
As a home owner, I can attest that there are a lot of hidden costs. At the same time though, my house increased in value by 200k over the past 5 years. That way makes up for all the hidden costs I have endured and then some.
@thedeadz0ne110 ай бұрын
@3535msj I've heard this a lot, but my immediate thought is that you don't actually get that 200k until you sell your house... Then what? Unless you're downsizing or moving to a lower cost of living area, any new place is likely to be equal or more than what you sold for. Not saying it's impossible to come out on top, of course not, but many people treat that 200k "appreciation" as "cash value" and IMO it's not the case
@mkrowenp11 ай бұрын
Really refreshing to hear Kevin talk about leaving college after one semester, and his reasons why were very mature of him. It shows that college is not the right choice for everyone (For transparency, I have three degrees lol). I also really like the argument that in a great complex like where you're interviewing, there are many like-minded and motivated people to form a community with. I don't like to feel isolated, and would love to interact with people in the halls or lounge areas :D
@glowone225610 ай бұрын
@bat3891 what have you done with your life
@certifiedfinest506510 ай бұрын
@bat3891start up your e-commerce hustle too
@danielxavier729110 ай бұрын
@bat3891 These people usually have an secret that was critical to their success that isn't accessible by anyone. He could have come from a rich family and got free credit from them, for example. For me, this thing of "leaving college after 6 months" and assuming the risk to do something new with zero guarantees and support is pure bullshit.
@insertnamehere247910 ай бұрын
@@danielxavier7291 thank you it just felt like something was missing from the story
@rosifico9 ай бұрын
I hate the narrative that someone can quit college and succeed without some “secret” as much as the next person… but I also hate the idea that someone can’t ever succeed without assuming there was a secret. Both can be true. There are people who quit college, found some other calling, and are doing well. There are people who finished college, who are struggling. There are people who did either, and are currently experiencing either or both. It completely diminishes the fact that Kevin is an entrepreneur who is doing well. While we don’t know his full story, it’s not fair to assume “oh because he’s doing well, it must be because he has a rich family.” Admittedly, as a college dropout who does not have a rich family and is still doing decently… while I resent when people “who made it out” are put on a pedestal rather than the focus being the systems that fail everyone else, I also recognize not all success comes from generational wealth. Some people do just succeed, and hopefully we put parts of that success towards the people who helped us get there.
@Harpie.11 ай бұрын
I would like to hear how the first person started their business with only $2k.
@Seboistian11 ай бұрын
This video made me realize how thankful I am to own my home because those Rents are insnae
@leetcodeking485911 ай бұрын
Same here. I have a 4 bed 4 bath. And pay $800 dollars a month mortgage here in California. But I bought 5-6 years ago.
@CharlieChang11 ай бұрын
Especially if you have a fixed rate mortgage!!
@TopVillain11 ай бұрын
It’s impossible to own a house How much do you pay for rent? 5600 😂 what the L
@channirichardi336911 ай бұрын
I rented for 12 grand a month in Soho when I got divorced last year. I wasn’t stable in New York and didn’t know where I was going to end up, so I rented. Depending on your situation and lifestyle, sometimes renting is best.
@GavinWongSG11 ай бұрын
Yeah plus in Manhattan renting is usually cheaper so why bother. Even appreciation has been pretty poor compared to other areas.
@Johgfn12311 ай бұрын
12k a Month???
@Ryan-wx1bi10 ай бұрын
Girl divorced a tech mogul paying that type of rent
@hyakushiki2310 ай бұрын
Just remember, we have no idea how much debt these people are actually in. Also no idea how much money they get from family. What retirements plan they are doing
@perfectbeat10 ай бұрын
That's what I was thinking.
@JokerCat99 ай бұрын
Most of these people are physically attractive, which makes it much easier to make money.
@abrahamburhanzai716311 ай бұрын
God damn JANICE!!!!!! Making me fall in love over here
@soufwesthoustontx10 ай бұрын
The second woman is not too old. She's only 33. There are successful KZbinrs way older than her lol. KZbin came out when her age range were teenagers. Millennials literally grew up with KZbin.
@Winamp_11 ай бұрын
if you are renting it is essentially a tax deduction if you are self employed or running a business, this is money you kinda would've been forced to either invested or lost to taxes either way. I dont see any problem with renting in America in particular since all the houses are kind of fake paper anyways. In Europe where I am from it's different story, the houses here goes down in generations, there are real actual value to homes here. I guess the value in America is actually the land/plot to be honest?
@bigk010111 ай бұрын
Great vid. I think it all depends on your stage in life. I rented luxury apartments with my wife and a roommate for years most we paid was 4400-4600 in marina del Rey. Was beautiful. But wife and I wanted our own so we bought in 2021. My wife and I now have a son and she stays home but I make around 180k bought a house for 500,000k north of LA in the desert mountains cause I work from home. Takes an hr to get to LA for a night out but we have the peace and quiet of the mountains and land. Our mortgage is 2600 a month if you add our property taxes monthly it’s 3400. Still cheaper than most of our old apartments in LA
@bigk010110 ай бұрын
@@JM-gc8fn Palmdale
@certifiedfinest506510 ай бұрын
@@bigk0101nice bro where in Palmdale?
@BelleResells10 ай бұрын
My childhood was in Palmdale i went to Quail Valley Elementary! Wonder what op occupation is
@certifiedfinest506510 ай бұрын
@@BelleResells where do you live now??
@PierceJPeterson11 ай бұрын
Dang, that phone actually has a pretty good mic. Great video, Charlie!
@CharlieChang11 ай бұрын
Yeah! Might be better than my normal mic lol
@dcmuscicc11 ай бұрын
Congrats on your 1m subscribers 🔥
@KimberlyPham25210 ай бұрын
I will be forever grateful to you, you changed my entire life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Mrs Maria Reyes
@RobertJenkins83510 ай бұрын
I'm surprised you know her. I've been making a lot of profits investing with her for a few months now.
@MichaelHenkel56210 ай бұрын
You invest with Mrs Reyes too? Wow that woman has been a blessing to me and my family.
@PatrickVelazco10 ай бұрын
I'm new at this, please how can I reach her?
@fredgastrow10 ай бұрын
I was skeptical at first till I decided to try. Its huge returns is awesome. I can't say much
@KimberlyPham25210 ай бұрын
she often interacts on Telegrams, using the user below.
@thepain32110 ай бұрын
$5k/month is more than half of my yearly income. Throwing that much down a hole on rent is insane. I struggle and fall behind in bills trying to pay $300.
@saptab13448 ай бұрын
You prob don’t live in America then cost of living is different here
@JaggedMercenary9 ай бұрын
Always own at least one home. ALWAYS. Trust me, bro. *leaves like a Gigachad without any explanation*
@pigskinrode011 ай бұрын
21 and making 6 figures . Damn I really made some bad decisions. Good for him 👍👏
@baldeagle471011 ай бұрын
that dude is loaded. i think he didnt even go to college, just went straight to the workforce. you dont need an education to do e-commerce
@livedreamsg10 ай бұрын
6 figures is such a broad term. I make $100k to $999,999 can't be compared at all.
@hime736710 ай бұрын
I'm 40 and seeing these kids making it makes me envy and proud of them at the same time. I got sick at 23 when my future was so bright and thought that I would make it. Health stole everything from me. However, I'm blessed to be in the USA and especially in Ca where I got to enjoy a simple life getting SSDI each month that can also pay for my rent in SoCal.
@davidrivas641211 ай бұрын
It's insane how expensive the housing market is in California and even these high earners still refuse or postpone in buying a home in California. With their income they can buy a nice mansion in another state.
@Malibukenn10 ай бұрын
They can buy a house in California with the amount of rent they pay. They just don’t want to grow up.
@Malibukenn10 ай бұрын
Or their careers are fickle.
@legendaryauragod8110 ай бұрын
bro one of them is 21 he doesnt have to "grow up" hes not refusing to he is keeping his career paths open to maximize how much he can make @@Malibukenn
@zombieboy93710 ай бұрын
The thing is, other states don't have the same economic prospects as California. Even with the money they spend on rent, they are probably saving more money than they are spending.
@breea0710 ай бұрын
@@Malibukenn not true. I live in California and for a 750 square foot condo, the same as my current apartment, the mortgage would be double what I pay in rent. Interest rates are insane.
@Imran-Lalani11 ай бұрын
From a pure net worth perspective you will come ahead in the long run if you rent. It frees up more cash flow to buy index funds in the stock market. Buying a house is the most overrated thing in USA.
@Imran-Lalani11 ай бұрын
There are many other costs associated with just a mortgage. I did mention that you have more buying power while renting. Stock market has returned over 10%.
@scenario7gaming20211 ай бұрын
Exactly. Tying up a significant amount of your cash in a personal home that will barely appreciate vs. even buying an S&P500 index fund (9% a year) isn't worth it
@scenario7gaming20211 ай бұрын
@jonny_laguna but not faster than an S&P 500 index fund. So don't buy a house
@Imran-Lalani11 ай бұрын
Are you saying don’t buy index funds? @scenerio?
@thesuperiorman834211 ай бұрын
If you're going to pay over 3k a month on rent then you're better off mortgaging a house.
@rustyscrapper10 ай бұрын
Its because they dont care. They dont want the responsibility. Its easier to rent then own, less work, less hassle, you just pay and live in it. In high end areas its far cheaper to rent then own too. You can rent a mansion for $10,000 a month that would cost $20,000 to mortgage.
@StayPuft20911 ай бұрын
Did 3rd guy say he has a 12 year lease?! 5:53
@sonicase10 ай бұрын
this video: house is too expensive...and how much is your rent? ...more than the monthly cost of a house. heh
@ddavis898810 ай бұрын
I will always own no matter what. Even if I move and buy another house, I'll rent out the old one. There's simply not any logical reason for me not to own, no matter what situation I'm in. Cause if the area I'm renting is too expensive to buy, then I'd just move. Everybody is not meant to live in LA, NY, Miami, etc. Go to the suburbs, move states.
@95netta11 ай бұрын
@9:00 "What do you pay for rent." "5,600 a month." "Do you think thats a decent price?" "Yeah its close to the gym and it has a nice view." Damn that is such a crazy amount
@smallant.10 ай бұрын
My mindset is: if you have money, buy a house no matter what, if you live in it, great, if you don’t, rent it out and rent where u need to be.
@hugoglenn97419 ай бұрын
Except rent typically doesn’t cash flow for houses. Unless you’re buying a brick house with 1 bath built on a slab
@itshadouken9 ай бұрын
I rent where I live and rent what I own. We’re able to rent a house for $5000/mo that to own would cost $11,500/mo + debt. Then we rent our house for $4500/mo when our mortgage on that house is $2250/mo. This gives us $6,500/mo to invest and earn interest on rather than putting it all into another mortgage.
@kmoov9011 ай бұрын
$4500 for rent? That's basically a mortgage right there lol
@grappler55510 ай бұрын
Double my mortgage lmao.
@user-rk2ww2cm4v11 ай бұрын
Janice, you're not too old for YT and you look great. Go for it... the worst thing you can get is a no, just keep trying!
@janicekhuang11 ай бұрын
thank you!
@toothfungus580111 ай бұрын
@@janicekhuang hi you’re beautiful
@davonriley10 ай бұрын
$5,600 a month is crazy for rent. At that point you might as well buy a house.
@phader210 ай бұрын
I rent $650 a month… one bed, one bath and all utilities paid.
@m.o.s.h.183610 ай бұрын
Owning a house is much better than renting because you don't have control if your landlord will increase their rentals as much as they want esp. in highly urbanized areas.
@JohnSmith-vq5wx10 ай бұрын
The first guy is FOS. His parents gave him money.
@sasukesuite110 ай бұрын
I make over $200k a year as a 26 year old in Northern VA and utilities and all included I pay $1300 for a room. Recently found a place for $750. Renting is donating to rich people and I choose to give rich people the least amount of money that I can.
@TopFlightSecurity41510 ай бұрын
now that is smart
@certifiedfinest506510 ай бұрын
Is the $750 room comparable to the $1300?
@sunchips1810 ай бұрын
I’m from NOVA, and I’ve never seen places that cheap before. What are you doing to find places like this?
@scotthullinger46848 ай бұрын
Rich renters surely won't be rich forever ... unless perhaps they are ACTUALLY indeed rich. Waste money if you love to rent. That's what you're doing anyhow. But then again ... the current political climate makes it IMPOSSIBLE for average people to own even the most average home in an average city. Family life is disappearing because politics make it impossible to have enough spare money to raise a family; and besides ... people seem to love putting themselves into some sort of solitary confinement in life. MOST people have NO serious connection with any other human beings. This is done by choice, and also occurs for failing to make proper choices. People refuse, or are incapable of planning out their life accordingly ... and by the time they realize they made the wrong choices, it is already typically FAR too late to do anything about it, and people must LIVE with their choices rather than pursue another path.
@Milestonemonger10 ай бұрын
We're retired military and defense contractors. We never bought a home anywhere because we were always traveling. Since retiring, we've been living in airbnbs all over the world. We choose where to live and for how long. The freedom that comes with not owning a house is absolutely incredible. Last month we were in Las Vegas for the F-1 race. This month, we're in Montana visiting family. Next month, we're off to Hawaii. If we owned a home, we'd have no choice but to live there.
@Laralove1492711 ай бұрын
If I were rich, I would buy a house, rent it out, and then use that rent income to rent my own place
@MrJspecefini11 ай бұрын
This is the way to go. I know someone who does that. And he’s not rich by any means.
@NessyontheGo11 ай бұрын
Depends on the tenant. Hopefully they would be reliable and not screw up your property.
@dominostimes211911 ай бұрын
@@MrJspecefini ..until the mortgage is paid off 🤷♂️
@PassportCalifornia11 ай бұрын
Smart. This girlknows. 🧠 you’re already a step ahead. Solid simple investment advice. 📊
@FreedomPlaya11 ай бұрын
You don’t need to be rich to do that. My most recent client, a single Canadian lady, is buying an affordable investment condo in Playa del Carmen, while she will continue to rent somewhere affordable and have her condo rent pay for her living expenses. Home ownership is still affordable for most people as soon as you open your mind beyond one’s own ‘back-yard.’
@m.s68211 ай бұрын
So basically their rent is so high they can't afford a house?
@baldeagle471011 ай бұрын
basically. that guy might be driving a BMW and all that, but i doubt he can afford a house. he probably needs like 300K minimum for a downpayment and then will have a large mortgage. he's only 21 though - he should just be living it up right now
@jml955011 ай бұрын
See it here in the SF Bay Area. People who cannot afford to buy a $1M+ starter home and rental an apartment. Might as well spend money on a nice Tesla or Bimmer. Nothing hating but just my observation.
@iSEEcereal10 ай бұрын
Someone please tell Janice that she's not too old to start new things!!! She's so young still!
@janicekhuang10 ай бұрын
thank you!
@Greggsberdard11 ай бұрын
Housing prices are unlikely to significantly decrease until there's a substantial increase in housing supply. In the USA , there's a shortage of millions of housing units, and construction isn't keeping pace. The constant demand for housing, coupled with population growth, means that even a slight price drop attracts numerous buyers who quickly absorb the available supply. I'm considering purchasing affordable houses in 2024 and possibly venturing into stock investments. When is the best time to enter the stock market? Some people say it is profitable , but others say it's risky. Any advice?
@crystalcassandra559711 ай бұрын
Consider investing in stocks especially during a recession . While recessions can be tough, they can also offer good chances to buy low and sell high in the markets if you're cautious. Just remember, this is not financial advice, but it's a good time to think about buying stocks since having cash on hand isn't always the best option.
@thisguyrools280710 ай бұрын
I’m making just 50k a year working at a country club. Have a college degree that doesn’t make me much. I honestly just want more money. Hanging around people who have money changed me. Before I was okay settling for an average life but times have changed and now I can’t even afford to own a house. At age 30 my parents bought their first home, by 40 they bought a second home and used the first as a rental to cover the mortgage on the new home. I also live in California 🙄
@name46011 ай бұрын
You should have asked how much debt they owe
@grappler55510 ай бұрын
Bought my first house at 26 in the midwest. Seems like if you live in the west coast and you didn’t have rich parents you’re gonna be grinding it out renting for a while.
@IgnoreMeImWrong10 ай бұрын
I swear he just said California has really good people.
@2010frankieg10 ай бұрын
These people are stuck on the California image. It’s a waste of life to be tied down to something you never own. Renting will never be better than owning. You can always find tenants. You can always refinance for lower rates and out back into home or buy another or save it or invest it. Renting is money that can’t come back to you in any way possible.
@dRILLINaTnIGHT10 ай бұрын
Buying a house that you pay for 30 years is not an accomplishment. People in third world countries just buy cement and bricks and boom you own a house.😢 the average american do not know how to build a house from foundation go up😅
@kalliemj10 ай бұрын
I live in a house with my family. Our community is relatively small despite the fact that 3-5k houses can be built in the area. Most people have decided not to build so there are only about 30 houses built. We know every single neighbor and have community events, play pickle ball together, we always wave to one another when we go for walks, etc. it’s a really nice community. We all help each other however we can. There can definitely be community in a development. I talk to more neighbors here than any other apartment I’ve ever lived in
@bmamba477710 ай бұрын
Anyone else notice they were all under 30?
@grappler55510 ай бұрын
Imagine making 10k/month and needing a roommate 😂 what a world we live in.
@wilsonjudson165011 ай бұрын
I'm not kidding when I say that the market crash and high inflation have me really stressed out and worried about retirement. I've been in the red for a while now and although people say these crisis has it perks, I'm losing my mind but I get it Investing is a long-term game, so focus on the long run.
@yuikiyoshi124811 ай бұрын
I can’t focus on the long run when I should be retiring in 3years, you see I’ve got good companies in my portfolio and a good amount invested, but my profit has been stalling, does it mean this recession/unstable market doesn’t provide any calculated risk opportunities to make profit?
@AimiHiroshi11 ай бұрын
There are a lot of strategies to make tongue wetting profit especially in a down market, but such sophisticated trades can only be carried out by proper market experts
@rbkrishnasarma11 ай бұрын
Homeownership is a good investment: there's also a big commitment. you have to ask yourself, am I going to be here for the long term, can I rent the place, there's also upkeep, projects and costs to maintain them. If a renter has an ac unit go out, the building takes care of it.
@TK-gd9td11 ай бұрын
home prices are defintely high but most these kids better off building equity in a 1-2 br in CA for 400-700k still would be cheaper monthly including all taxes and utilities than some of these rents. better to be rich in 5 years than to appear rich renting in a 'nicer' amenity apartment.
@jml955011 ай бұрын
Yep, myself a landlord for 20+ years in the SF Bay Area. I always encourage my tenants to save and buy. Long term wise home ownership always beats renting.
@jasminecontreras734111 ай бұрын
1-2 bedroom condo or house?
@jml955011 ай бұрын
Condo or townhome. They are more relatively attainable as a starter, I am referring to the SF Bay Area here.
@jasminecontreras734111 ай бұрын
@@jml9550 would you recommend buying a cheap condo in Southern California and attempting to pay it off early in maybe 5-10 years and then selling it or renting it out and getting a decently big house? I don't really know much about this, but just thought I'd ask since you're so experienced. I'm in my mid twenties and want to be more hopeful about my future living situation. A lot of videos here on KZbin are really negative when it comes to young people being able to afford a decent lifestyle. I'm sure it's mostly clickbait and KZbin creators just wanting us to be fearful and then click on their video.
@davidc440811 ай бұрын
I moved to New York. I own $6 million in real estate . The reason not to buy where you live is so you can move easily and not have hassle of ownership. Repairs etc, ownership is good if holding long term or in bull market for quick sale. Short term can be risky with taxes and economy
@grantmcbride223811 ай бұрын
Because I rent for $3600 and buying the same house would be $8k a month with $240k down! Does not make any financial sense!
@Daneiladams55510 ай бұрын
These people are nuts for paying that kind of rent I pay 750 a month for my own cabin in California But this is rare
@Mogardie10 ай бұрын
If you’re single renting makes more financial sense unless you really want 3 bedrooms to yourself. My rent is $1k a month and a house would be $3500 probably and then I’d be locked into living at that location. I have $2500 I can invest into the stock market or even HYSA whereas the first couple years of owning you’re paying $21k/yr in interest probably.
@xploit81111 ай бұрын
Renting is fine, its only when you have kids is when you should think of buying.
@scarbo222910 ай бұрын
Why, why, why so many edits? Not good for building credibility.
@daralynx29 ай бұрын
I get the lifestyle looks attractive, but to rent you must always be working. Gotta own a home or 10 to get off the wheel and exit the rat race.
@stacheup480911 ай бұрын
did he say 12 year lease? 👀
@MrTwonetwone11 ай бұрын
He means 12 months lease
@HurleyIsAStoner42011 ай бұрын
I don’t think renting will make you meet more people I have a house and know all my neighbors and do have a community. I think either renting or owning can give you some community but most people I know that have a house actually know their neighbors because they’ve live along side each other for years while ppl that rent usually stay for a few months/years which isn’t bad of course
@aic080911 ай бұрын
I completely agree with you. I never knew my neighbors until I bought my house almost 5 years ago. I really love feeling like I’m part of a community. I didn’t feel that way when I rented.
@baldeagle471011 ай бұрын
i rented for years, never knew any of my neighbors. renting to meet people is a terrible idea as most people just stick to themselves
@HurleyIsAStoner42011 ай бұрын
@@baldeagle4710 so true ! I feel most people rent to just get away from everyone and be alone
@HurleyIsAStoner42011 ай бұрын
@@aic0809 yea I hear most people say that. I knew all my neighbors when I was a kid and lived with my mom also. All my neighbors owned their homes and were there for years
@pinhound564311 ай бұрын
Give me a break.. nobody writing emails for e-commerce companies is able to afford $5600 rent. My guess is half these people are living off the bank of Mom & Dad,
@CharlieChang11 ай бұрын
That blows my mind you think that! An email agency owner can easily make 6 figures per month. I normally don't respond to these types of comments but had to say something!
@hdj92011 ай бұрын
LOL Charlie.... This video is so ironic. Rich renters are the two words that don't belong together. Are you trying to mock them?
@prestonsearfoss59711 ай бұрын
These rents are way less than what a mortgage would be. This seems like Irvine or somewhere close. A decent house in a great location would be minimum $1.3M which would be an $8k plus mortgage
@AyeBee-k5w10 ай бұрын
Yes, this is in Irvine. You can see the blimp hangars that just burned down when they look outside the guy's apartment.
@dezlc625910 ай бұрын
I make about 150k a year and I REFUSE to pay $3k for rent. I drive a 19year old 350 Z and rent a room and am stacking my chips I live in California but I rent a room in the suburbs and work remote so my monthly nut is $3k a month. I’m saving so that went interest rates drop and prices come down, I’m able to put a higher down payment down for a cheaper monthly mortgage and that my friends is how you stabilize yourself. I’m curious to know how much credit card debt they have and if they have a savings. IT’S NOT ABOUT HOW MUCH YOU MAKE, IT’S ABOUT HOW MUCH YOU GET TO KEEP.
@certifiedfinest506510 ай бұрын
Your $3k is before or after the room expense?
@winconfig11 ай бұрын
First person you talked with slapped me hard with solace and tranquility.
@user-rm2wj9gj3l11 ай бұрын
So much bs in this video (from the people you interview). For example the first one with his 200-300k profit to afford a 4.6k apartment? What are you talking about? And he talks about profit. You can deduct the rent by the way. And if you have 2 bd means you split the rent so give us a break and curb your richness.
@nmatsaba238311 ай бұрын
Janice looks like a young 20, she's gorgeous. Also, nice video, it was definitely a different perspective hearing it from young people.
@janicekhuang11 ай бұрын
thank you!
@KK-pm7ud11 ай бұрын
@@janicekhuangYou should continue to try and grow your channel
@asnboy108411 ай бұрын
I got a house in OC with a good school district, a pool, palm trees. Let me tell you what they are paying for is way way cheaper than home ownership.
@robshin807811 ай бұрын
Since houses are so expensive, I wonder if a better question would've been "Why rent instead of buying an apartment (or condo or co-op)? Perhaps something to consider for a future video? Thanks for the great content as usual.
@Mike-dd8bd10 ай бұрын
Yeah I can understand why people won`t need a house. But I am sure there are plenty of condos for sale in socal area.
@ToulouseFan10 ай бұрын
Yeah with these interest rates and the prices there the mortgage is at least 10k for a nice house so the luxury apartment seems like a bargain actually
@Asafo8710 ай бұрын
Lack of supply. The only purchase option in the majority of metro areas is single-family homes. This is due to zoning laws prioritizing low-density residential lots.
@aisherwasher695910 ай бұрын
When I hear people talk about buying a house, they generally mean any property that they can live in (including townhomes and condos)
@Odelle811 ай бұрын
young money is funny. These people will look back 10 years from now and laugh
@stevep423611 ай бұрын
What I got out of this video Paying 4k+....for pool and the view.
@CharlieChang11 ай бұрын
Haha, and location
@AJourneyOfYourSoul10 ай бұрын
Way to go Kevin. Keep grinding brother and checking off those goals.
@bryansandiego265811 ай бұрын
Advantages to renting here "pool, gym and no maintenance or pulling weeds" ... until you get your own house with a backyard, driveway and get to pull your own weeds :D
@PatrickLloyd-10 ай бұрын
The effects of the downturn are beginning to sink in. People are being impacted by the long-term decline in property prices and the housing market. I recently sold my house in the Sacramento area, and I want to invest my lump-sum profit in the stock market before prices start to rise again. Is now the right moment to buy or not?
@JustenHarden11 ай бұрын
Man, Kevin is only 21?? Inspiring!
@AP90x11 ай бұрын
Stop glazing
@kevinmle11 ай бұрын
It was a pleasure meeting and speaking to you and Joey!
@butWhyDad10 ай бұрын
That first guy sounds like he is reading a transcript, so fake 😄
@CollieNike310 ай бұрын
Dude, you must be in Irvine. I've lived in OC all but 5 years of my 40 year life--I own in Laguna Hills now--and I'm calling it, this is for sure Irvine.
@CollieNike310 ай бұрын
And the 3rd guy has it right, in my opinion.
@yankinwaoz10 ай бұрын
That's sad. When I was in my 20's, I rented a room in a condo in order to save money. I was able to save over $1000 a month (back in the 1980's). When I was 30, I had saved enough to buy my first condo in Santa Barbara, which is one of the most expensive places in California. Most of my career, I've rarely made over $100k a year. It wasn't until recently that I started making over $150k. I'm now in my 50's, and own a nice 4bd/3ba house near the beach north of San Diego. My mortgage is less than $3k, and total housing (mortgage, taxes, insurance, HOA, sewer+water) comes to less than $4500 a month. The house is worth well over $1.9M. Earlier this year I installed a solar system under NEM 2.0 which has reduced my electric bill to zero, and subsized my gas bill to about $20 a month. Another thing that we love about owning our home is that we have our fur-babies without needing permission. We adopted 2 cats and a dog, all rescue animals, and have given them a lovely and safe home to live in. They are so much fun to have around. We didn't have to ask anyone. Or pay extra rent for them. When I retire in a few years, my mortage and solar loans will be done. Thanks to Prop 13, my taxes will be low and managable (about $1200 a month). I can retire on SS alone, which will be enough to cover all of my housing expenses, which will be about $1500 a month. And my last trick, when I am old and need money for full time advanced care, is that I plan to tap the equity of my home be either selling and moving into a care facility, or taking out a reverse mortgage. It should be more than enough to pay for it. I reckon I should had over $3M in equity by the time I'm 80. I'm so glad that I make the sacrifices I did when I was younger. Being an owner, they allowed me to take advantage of the low interest re-fi mortgage rates of 2020. They allowed me to leverage property appreciation to buy our current home. They allow me to take advantage of NEM 2.0 to get out of paying sky high prices for electricity. It allows me to rent out my extra guest room+bath to students for a little extra money, and having a pet sitter and house sitter when we travel. I allows me to retire without worrying about how I am going to pay for roof over my head. And I did all of this in expensive coastal SoCal, on a middle class wage.
@Lightning-bv2vv10 ай бұрын
Wow this is sad ur life is sad, why do u need someone to take care of you in a facility that is so sad and you have so much money bro go make some kids so they can take care of you when older smh.
@yankinwaoz10 ай бұрын
@@Lightning-bv2vv What if your kids don't want to wipe your ass when you old and feeble? What if you don't wish to burdon your children with this? The chances that you will need nursing care when you are old are pretty damn good. My mom has dementia and is going downhill. She is now at the point where we can no longer care for her. She has no idea who we are. She doesn't understand that she has shit her self and needs to be cleaned and changed. We all work full time jobs and can not babysit her 24-x7, which is what she now needs. But the care she needs is super expensive. Around $10k+ a month. She doesn't have that much money to pay for it. So we are having to sell her home, and everything she owns, so that she will eventually qualify for Medi-Cal. Then she will have to go into a care home. Planning on your kids taking care of you is terrible plan. Even if your kids wanted to, there are things that happen that even your kids can't handle. You need professional care, and that costs a lot. She is temporary in a care facility because she had an accident and broke her foot and hip. Medicare is paying for it. But as soon as she is mobile, she is going back home. I visited her on Sunday. The place is horrible. A warehouse of old invalid people, two to a room. It smells. I never want to end up in a place like that. I hope that I never get into that state. I hope that when I die, it will be quick and painless. But the odds are not in my favor. I have to have a plan for the worst case scenario. That is why we bought LTC policies in our 50's. That is why I plan to tap our home equity. I don't want to end up a in state run nursing home warehouse where they just wait for you to die. That is sad.
@Lightning-bv2vv10 ай бұрын
@@yankinwaoz if you don't want to end up in there state take care of your self so you can be healthy, but in my culture we take care of our parents when we get married and live with them. But I guess ur method makes sense. But for me that would be very depressing.
@Humboldt8810 ай бұрын
Bravo! It's great to own a piece of land. Ppl have gotten lazier, they don't want to mow their own lawn, or rake up the leaves when the fall comes. We should invest in homecare workers, so those who don't have children, can have a dignified life their last years.
@hugoglenn97419 ай бұрын
My situation is exactly like yours except for a few critical changes. I’m on the East coast. I don’t live near the beach, I’m on Saltwater(Dock) a block from the beach. I didn’t make over 150K much less 100K except for a couple years. I don’t work, I’ve been retired since my 40s. I’ m not house poor, I don’t have a mortgage and never had loan. I drove my cars into the ground and now own a new S class. I’m not in California so my taxes aren’t $1200/month they are $300/month year and my house if over 50 percent more valuable. I won’t have to get a reverse mortgage if I need elder care, I have assets other than being house poor. I don’t rent out parts of my house. I don’t have to weekly vacation rent my house. WHY do I say all of this. The big difference is I rented in the 80s/90s and saved not 30 percent of income but over 60 percent most months (over $1000 but not significant more) The most important part of the money was dedication to half ass investments in the stock market. I didn’t have a 200x return in a stock like my father (the buy order never executed for me) but I’m an average investor, up 40x. I was never fully invested and never ever bought real estate because I moved in the military and would have rented for cheaper shelter anyway. It’s called deferred pleasure and I will crush anyone on my current level of pleasure.
@Matias_L10 ай бұрын
So what I see from this is - have a rich family and you can afford rich things 😂
@LallanAlexHockstetter10 ай бұрын
Janice is definitely not too old to be doing KZbin, she’s selling herself short without even realizing it! We have 40+ year olds doing KZbin and doing great