How Much Home You Can ACTUALLY Afford By Salary (Buying A Home Masterclass)

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DISCLAIMER CONT'D: I'm just a random guy on KZbin so do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[@MinorityMindset]

Join Market Briefs, my FREE newsletter for investors, here: briefs.co/market/jaspreet WARNING: LOOKOUT FOR SCAMS IN THE COMMENTS! There are many fake accounts impersonating me, and there are many bots promoting fake/scam investments. I will NEVER ask you to contact me through KZbin comments, telegram, or WhatsApp. I have a checkmark next to my name and my comment will be highlighted. Fake accounts do not have that. Please be aware of fake accounts trying to scam you using my name and picture!

[@GW-KHEM]

Keep going bro lot's of love, from Nepal❤❤❤

[@richhands5269]

My three favorite channels: Minority Mindset, Stock Brotha, & J Bravo. Make my week complete! 🔥 🔥 🔥

[@marguritetheodore2194]

Beautiful and well explained, though you should consider English subtitles as I couldn't hear some things. As a foreigner staying in America and given the times, would it be better to go into into real estates or stocks. I have been confused on the better option and where and how to go about this. Can't seem to find the most appropriate and of utmost importance is also a less time intensive option.

[@titanjack3118]

stocks are your best bet atm, the housing market are currently a mess

[@danielchen2857]

@huntercole6189 ...Very sound and realistic. I too have been into both for sometime now and though I won't say I have lost a fortune, I have squandered quite a lot... You mentioned using pros, if its not a problem. do you mind telling who you used or recommending a good one? I could definitely use the help of one right now... I look forward to you replying...

[@savedhayden]

@huntercole6189 casually strolled into this thread and boom, I know this smallish man. Once attended a fundraiser he was also in attendance here in Vancouver,, Great speaker with a funny accent,, He's in the States though, I doubt he works with non residents,,,

[@danielchen2857]

@huntercole6189 Thanx...

[@Kortneylove-1]

@@savedhayden This right here is the second time I am coming across this name in a week. Came to my workplace for a program and it was lit. found nothing funny bout his accent though

[@livelaughlove4635]

Great explanations on everything! 👏🏼 👏🏼 👏🏼

[@effq1]

10:30. I would totally agree with the fact that it is better to put more down payment overall, but also agree that if you can effectively invest the savings on an investmemt with returns more than the mortgage rate, that is great news. When we bought the house in early 2022, my partner and I were able to put only 5%down as he freshly got out of a family situation and I just graduated with a masters without taking a loan. But the fact that we were able to lock the rate of 3.3%, instead of saving for 20% down payment with about 6% rates of today ( and meanwhile, paying someone else's mortgage for another year)- we decided to buy it and are very happy with our decision. Even right now, I have zero intention of paying extra principal even though I have saved quite enough as putting that money in an online savings would yield higher (4.3% apprx) interest rate(not even talking about investing in stocks to get higher returns) than 3.3% mortgage rate. We had our worries that house price will go down, but it did not go down and actually went up a bit so far. Moreover, we are renting out a room and the tenant basically pays the interest part of our mortgage. We are paying the part of principal, property taxes and HOA only.

[@Brooklyn-rj3np]

I work for a debt relief service. Thank you for this. So many people need to hear this

[@OdielsonSouza-r6k]

hey brother im from Brazil and i love your videos ,,,,helps me a loooottttt

[@joseisraelneri85]

I don't need all this, I live in a very small room, I sleep on the floor, I eat on the floor, but wish and working to become a millionaire I just have to work joyfully and do the right things Thanks for your help

[@h3lio5]

20% tax I wish lol. I’m in Canada with a marginal rate of 46%. I ended up with a house that takes up 15% of net pay, and invest about 40%. I opted for a 1960s semi-attached instead of a brand new detached mcmansion. It’s not fancy…but it’s enough and I get to do what I want in my 40s.

[@nevergiveup8262]

Good information, thank you

[@mariahsmom9457]

Also plan for big increases in insurance and property taxes. Ours were just increased by 50% for insurance and about 20% for property taxes (no claims or problems- just gouging). Also make sure you also have the $$ for the maintenance. New roof, fence, water heater, window, tree limbs down in a storm, sewer backs up, you name it, it can happen and you have to pay for it.

[@jimmyz5831]

The banks mostly look at income and expenses with how long you've been on your job. What one should consider is how you will be able to pay for the home if you lose your job or emergency expenses come up.

[@TheLovely990]

Good morning. This depends on where you live and what you buy. Forget owning a home, everyone is priced-out unless you are the latest lottery winner.😳😳😒😒

[@htx4k897]

You definitely have my sub. This content is next level. For me cannafarm ltd was the turning point. Please keep doing what you do and keep being you, love it.

[@raymondr2821]

Love your channel sir thank you

[@Paperchase1825]

Great video

[@MrAjpalkow]

Extremely valuable information. It’s a shame most people have their priorities a$$ backwards.

[@thejoshthat]

I inherited a property, that I live in. I'm looking into a purchasing my first home to rent out. Is it beneficial to inform the loan provider of this?

[@jayc4715]

No

[@clintonlunn4357]

My first expense I budget is maxing 401k. Obviously, that's even before taxes. Then taxes. Then IRA yearly max. Then 5% savings. Whatever is left I use to save and spend.

[@karayelmaho80]

This certainly sounds good too, but I think its still worth considering more reliable options like traditional businesses such as cannafarm ltd, for example.

[@FaZePhaze]

Any VA loan comparison in Canada ?

[@ANNALAURA392]

Cool video! Id like to add that there are other investment options in businesses like cannafarm ltd as well.

[@discorabbit]

Tax 😭

[@amypenellope]

What do I do that in Canada, where the average home price is like 800K? 😢

[@valroze1647]

Is your ultimate suggestion to purchase an income home prior to buying a home for myself? In my situation, that would mean I would be renting while managing a property. If that’s the way to go then I just may do it.

[@getinthespace7715]

Be careful not to over extend yourself. If you are renting in general you SHOULD NOT be buying property to generate income as a rental. If you are buying a house to rent out you need to look at your local eviction laws and see how long you could potentially have a squatter before they could be legally removed from the premises. In some places it takes over a year to kick someone out. Make sure you have a war chest of savings to cover all expenses for a nightmare scenario like that first. Mortgage, insurance, electric, gas, repairs, attorney fees, etc. The alternative is if you can't properly cover costs a nightmare squatter could force your property into foreclosure.

[@robertbrown1021]

So basically you are choosing to take care of the older you over the younger you... Some factors are you don't know if the older you will be around? But if the older you is around your money making ability goes down a lot.... This is really tough.

[@kookietherapy9398]

If God told me how many days I had left on earth, I would make very different decisions.

[@amypenellope]

Right, my mom just passed at 55. Before ever retiring. YOLO

[@paidintheshade]

Aside from M1 finance what other places can someone invest in eft's

[@paidintheshade]

bump

[@dankwolf442]

I didn't see car loans or student loans on your list of expenses.

[@thejoshthat]

To improve credit score, is section 609 an option that most low credit scores should explore?

[@dianaalyssa8726]

TY

[@IROCZSPEED]

Was worried we were buying too much. 335k house. 30k down. 6.8% rate. Our joint income is +$210k annual. Will destroy savings on move in with so many repairs needed, but we will have 24.4 acres when it's done.

[@ajvalencia1264]

What state?

[@IROCZSPEED]

@@ajvalencia1264 SC.

[@SuzanneU]

What will you do with your acreage? How much will it cost you to develop the land?

[@IROCZSPEED]

@@SuzanneU enjoy my privacy and outdoor lifestyle.

[@jayc4715]

335k house on 24acrea...I bet the taxes are crazy

[@jeffersonjohns6397]

In general, people can not discern what’s “necessary” vs what’s “nice”. Therefore, they really do not know what they truly need to do, no matter how old they get. Owning and trying to compete with others is just another form of “herd” mentality.

[@anujdancer..6267]

Thank you for sharing your insights and recommendations. Its great to explore various investment options, especially well-known companies like Cannafarm Ltd that are gaining popularity. Adding different ventures to our portfolio can help reduce risks in

[@kev6856]

Dave Ramsey would disagree with a lot of your statements about paying down your house first before anything else

[@dennishowland7495]

If you don’t could explain more about subject you is she a lot of invested doing subject to and something for call and mirrorin so just if you could give us more insight into subject two deals appreciated frequenting Xuzhou enjoy listening to

[@dghdger2859]

Cryptocurrency is volatile. Diversifying your portfolio is a sensible strategy. For example, I have deposits on Binance where I engage in trading, also staking on Kraken, investing in companies like Cannafarm Ltd, and I also participate in liquidity pools

[@justSTUMBLEDupon]

1:24 20k in taxes? 🤣🤣🤣 🤔 😩😩😩 Nooo man, at least 33% goes out the door in taxes. Up that to 33,000 please 😩

[@darrenharris3987]

You left out car note

[@andrez1142]

No one can afford a home. Before making 100k will let you get something decent. Now a basic socal home for 700k is almost 5k a month.

[@justicemark]

All signs suggest that 2023 will be a year of severe economic pain, I was really hopeful of my investments this year, but all my plans have been disoriented. I've been studying the market crashes and I realized some investors made a fortune from the recent recession and I was wondering if such success rate could be achieved in this present market. I'm open to ideas about investing for retirement.

[@atedoghudappa8953]

The first step to successful investing is figuring out your goals and risk tolerance either on your own or with the help of a professional but is very advisable you make use of a professional like I did. If you get the facts about saving, investing and follow through with an intelligent plan, you should be able to gain financial security over the years and enjoy the benefits of managing your money.

[@livingoguard]

The stock market rally run is gone, but I'm not sure if equities will swiftly recover, keep falling. or fluctuate in a narrow range for a few weeks, or if things will quickly get worse. I'm under pressure to increase my $300k reserve.

[@powerMuhammad-dj7rb]

Please I need someone to help me trade or invest the forex or crypto market because I'm tired of trading in losses myself. I've blown my account twice and it's frustrating.

[@adamsluxury]

​@@powerMuhammad-dj7rbConnecting with a financial advisors like Elizabeth Koch who can assist you restructure your portfolio, would be a very creative option. Personal financial management will be crucial to navigating the next difficult times.

[@discorabbit]

Year is half done. No pain.

[@forevertogetherft]

I honestly dont understand why youre discussing these dubious schemes. There are plenty of options like Cannafarm Ltd and similar ones that are fast and profitable.

[@_ssjim]

❤❤❤❤❤❤❤

[@KChillzz]

What's your math to get from $1850 a month mortgage to $275,000 qualification???? Please show your math more when you explain things like this... Please

[@mariahsmom9457]

Who is paying $358 a month in car insurance??? That number is not right. Can't be. Mine is literally $40/month.

[@jeffersonjohns6397]

Not paying PMI is like a guaranteed investment. Why give the money away for free?

[@jeffersonjohns6397]

It never occurred to me that if some people are spending their “max” amount possible on their home, they won’t have the ability to invest, especially within a 401K. I think that today’s young people are in a lot of trouble when they’re about to retire. They will NOT have the luxuries of the Baby Boomers. Ugh…

[@round2hell2.16]

I dont know, all of this sounds questionable, with too many potential pitfalls. I believe there are more reliable options out there. I recently found a company called Cannafarm Ltd, and Ive been consistently earning with them. I think its better to foc

[@harshdeepsinghbrar6891]

👍

[@Geraldcarl_]

Thank you for this wonderful video! I have incurred so much losses trading on my own....I trade well on demo but I think the real market is manipulated.... Can anyone help me out or at least tell me what I'm doing wrong?

[@Priscillakay-bb7bc]

Trading with an expert is the best strategy for newbies and busy investors who have little or no time to monitor trade

[@TuanNguyen-mo6fy]

I dont know, dudes. I think crypto and all these ICOs are just a bubble. Well, crypto is good for transfers and so on, but I dont engage in trading and staking either. Its too risky. My friend recently lost $5000 there. I invest crypto in real business

[@THELOSTDEAD]

I would argue more people don't stake GPT77X because you can do more with GPT77X , and staking is harder to do so users do nothing or use liquid staking

[@AB-fq4mr]

What I don’t understand is these people who scream they can’t move because they have to go from a 3% to a 7% interest rate? Doesn’t everyone have hundreds of thousands in equity they can roll over into their new home to get the payment lower? Seems fishy to me. I am starting to think that the new interest rate is just an excuse for people having blown HELOCs on their existing homes.

[@asa_1299]

I've got 15-20K GPT77X. Will add more over the next 12 months.

[@renaskustepe3143]

I really appreciated this video, as a medium-term GPT77X holder. I know you commented on not many people paying attention to this, but it was very relevant for holders such as myself. After watching your thoughts, I willbuy more. I also remember your earlier assessment. This will crush the market.

[@SuzanneU]

Jaspreet never even mentioned this. You're lying.

[@enesluxus6514]

Thank you for your research. I find your videos are well done. RIght now Im keeping an eye on Cannafarm ltd

[@geoffmcarthy7314]

If you can borrow 200k but need 400k .SAVE 200k ….why is that so hard ?

[@thelab2046]

Because everyone want everything right now.

[@designereats3661]

Because that will take 10-20 years for most people. The house price will double within that time frame

[@ytt317]

All of them are really nice picks. But the potential of project that elegantly combine blockchain and AI is Amazons GPT77X and should not be overlooked, I guess. Among them, this truly tackle real-world problems and have vibrant ecosystems, like Aiwork.

[@erdemkurban4841]

Need more info input on the GPT77X Amazon planned this for years and this way we can conquer the recession, let's go mate!

[@BradHelsing]

Does paying $1300 a month for an apartment for 14 years and NEVER being late or short make you more likely to get approved for a home? It's not reported to credit agencies..

[@leonardtafolli8404]

Thx for the info. Its very useful. Last time, I also came across cannafarm ltd, and financially, it has been very helpful for me. So thank you again!

[@seldaakyuz3904]

Thank you for this video. There are so many uninformed people out there when it comes to GPT77X

[@kathyms.]

Excellent info... thanks