Why You Should Never Pay Off Your House

  Рет қаралды 2,292,282

Kris Krohn

Kris Krohn

Күн бұрын

Пікірлер: 2 800
@gmoney860
@gmoney860 3 жыл бұрын
Paying off my mortgage was one of the best feelings ever. You keep yours all you want.
@ronbonora7872
@ronbonora7872 3 жыл бұрын
I agree! LOL....the world is not new. These young people don't realize that interest rates will start to increase soon enough! LOL
@annetteharding6484
@annetteharding6484 3 жыл бұрын
Why not pay off your house? That’s my goal.
@666dynomax
@666dynomax 3 жыл бұрын
@@ronbonora7872 thats kind of the problem. like right now i've got one mortgage at 1.6 and one at 2.69... yeah you can say thats low, but i think this is the time to pay them off while its low... not wait until they're 5-10%.
@billyd78
@billyd78 3 жыл бұрын
Exactly
@chvnse
@chvnse 2 жыл бұрын
to each their own man.
@Mrshuster
@Mrshuster Ай бұрын
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
@Peterl4290
@Peterl4290 Ай бұрын
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of financies and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
@jerrycampbell-ut9yf
@jerrycampbell-ut9yf Ай бұрын
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
@sabastinenoah
@sabastinenoah Ай бұрын
Could you kindly elaborate on the advisor's background and qualifications?
@jerrycampbell-ut9yf
@jerrycampbell-ut9yf Ай бұрын
Annette Christine Conte maintains an online presence that can be easily found through a simple search of her name on the internet.
@jerrycampbell-ut9yf
@jerrycampbell-ut9yf Ай бұрын
@@sabastinenoah My CFA Annette Christine Conte a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market
@JK-ks3xq
@JK-ks3xq 3 жыл бұрын
I own real estate, industrial income and land. I sold all of my apartments in 2005. I'll never own anything again that people live in. Tenants think you're their nanny and they don't respect what they don't own. Most don't even respect things they do own.
@Watchthis7777777
@Watchthis7777777 3 жыл бұрын
Sadly this is mostly true :-(
@bigkid757
@bigkid757 3 жыл бұрын
I’m going through this right now. Never against.
@JK-ks3xq
@JK-ks3xq 3 жыл бұрын
@@bigkid757 ...I wish you well Big Kid. I don't know what state you own rentals in but, in my state, the tenants have all the rights.
@robertmoran3589
@robertmoran3589 3 жыл бұрын
That’s why Home Depot sells cheap supply’s
@konagirl805
@konagirl805 3 жыл бұрын
I've been feeling the same way about my rentals... but right now with inflation (and it doesn't appear "transitory" has we're being told) hitting I'm keeping my real estate.
@jimmoore1216
@jimmoore1216 8 ай бұрын
I spent 38 years banking consumers, businesses, governments, international conglomerates and, yes, I even banked other banks and the stock exchanges. My most successful clients who had the options to do whatever they wanted were those without any debt or equity partners. Pay off your mortgage at a 20 year clip, don’t carry any consumer debt, drive a paid off car, invest at 20 percent of gross income, and enjoy life and relationships along the way.
@astroman30
@astroman30 4 ай бұрын
Beautiful advice....Bravo!!
@qt3dot146
@qt3dot146 2 ай бұрын
No kidding Sherlock. Rich people have options. Big spoiler there!
@kh2099-z5f
@kh2099-z5f Ай бұрын
Banks dont loan to people unless they have debt
@meTimetraveler
@meTimetraveler 29 күн бұрын
i have 2 cars, one a 2006 Malibu Maxx and a 2002 Sentra, i have another Sentra, i have to weld a new trunk, keeping it for a backup.
@obummer14-4
@obummer14-4 7 күн бұрын
Invest 20% into what?? Thank you in advance.
@willynelson8750
@willynelson8750 2 жыл бұрын
Dave Ramsey is 100% correct. Always pay your mortgage off if you can. The freedom of owning your property is unreal and the best feeling ever.
@SmallSpoonBrigade
@SmallSpoonBrigade 2 жыл бұрын
Owning property being a bit of a chain not withstanding, he is right on this point. If owning a home makes enough sense to take out the mortgage to buy it, then paying the mortgage off as quickly as practical makes sense. Buying does come with disadvantages, especially if you're buying in an area where people are leaving, or if your industry may have better prospects in other parts of the country.
@florianmadison
@florianmadison Жыл бұрын
@dr.raymond8 thanks .. i found her webpage
@jamieg9607
@jamieg9607 Жыл бұрын
Facts!
@albajessicalove
@albajessicalove Жыл бұрын
​@@SmallSpoonBrigadeMaria Brisbane helped me secure HELOC with 650 credit score
@slomorrison814
@slomorrison814 Жыл бұрын
😂 did you even watch the video? One is a feeling the other is financial wealth.
@hometowncook6970
@hometowncook6970 3 жыл бұрын
He failed to mention....a bad renter can destroy all your plans
@sandan778
@sandan778 3 жыл бұрын
True and how about if all your renters leave where you get to pay the mortgage, bad bad headache.
@runitup544
@runitup544 3 жыл бұрын
And a Pessimistic mind will prevent you from opportunities
@hughmanatee7626
@hughmanatee7626 3 жыл бұрын
@@runitup544 Correction: A Realistic mind will prevent set backs. Those who aren't well off from the start don't stand a chance against said set backs.
@runitup544
@runitup544 3 жыл бұрын
@@hughmanatee7626 not 100%. And yes we all stand a chance.
@joemc111
@joemc111 3 жыл бұрын
Lots of places you can’t throw the non paying renters.
@robjames3864
@robjames3864 3 жыл бұрын
Paying off my house was the best thing I ever did. Losing that $1500 a month debt has made life easy.
@fortnersgarden2526
@fortnersgarden2526 3 жыл бұрын
...my insurance and taxes are wrapped in my mortgage so I wouldn't be saving the amount I pay monthly...?
@insideoutsideupsidedown2218
@insideoutsideupsidedown2218 3 жыл бұрын
@@fortnersgarden2526 now they are just a monthly bill like car insurance and utilities.
@leejesson3368
@leejesson3368 3 жыл бұрын
Mvdo
@ab221983
@ab221983 3 жыл бұрын
So agree with you, and congratulations your living like no one else... just like dave ramsey
@hdj81Vlimited
@hdj81Vlimited 3 жыл бұрын
1500??? jezus......
@femckay
@femckay 3 жыл бұрын
This guy has a very different viewpoint than Dave Ramsey (or I) do. I’m 78 years old and retired. I’m so glad I have no debt! It gives me the freedom to do what I want. The Bible says the borrower is the slave of the lender. That’s the best advice I know!
@tatianaflorez7858
@tatianaflorez7858 2 жыл бұрын
Congrats on your retirement! I have to say that this eternal law rings constantly in the back of my head.
@Jwdude123
@Jwdude123 2 жыл бұрын
Keep it in church
@iunderstanphotography2780
@iunderstanphotography2780 2 жыл бұрын
exactly many people would love to be in your position but poor health or bad decisions led to debt until the grave
@tonymoretti2347
@tonymoretti2347 2 жыл бұрын
Very true
@thekidsarefine6303
@thekidsarefine6303 2 жыл бұрын
@@Jwdude123 huh
@jaywalk6628
@jaywalk6628 2 жыл бұрын
"I really regret paying off my house" said nobody EVER
@albajessicalove
@albajessicalove Жыл бұрын
Maria Brisbane helped me secure HELOC with 650 credit score
@johnroebling9329
@johnroebling9329 Жыл бұрын
I think you missed the opportunity and the point.
@albajessicalove
@albajessicalove Жыл бұрын
Or visit her website
@adriannathegreat9890
@adriannathegreat9890 Жыл бұрын
I don't think you understand what he's saying
@kicks4lowofficial139
@kicks4lowofficial139 Жыл бұрын
I regret paying off my car
@cheehochiu5120
@cheehochiu5120 2 жыл бұрын
Kris has some great content, but paying off our home was the best financial choice we ever made. No recession, economic crisis going to put my family out on the street or separate us.
@Bubby1100
@Bubby1100 2 жыл бұрын
Agreed. You can still use debt to buy a rental house, etc. But your home should provide protection.
@jordesign
@jordesign 2 жыл бұрын
@Florida Man Are there way to not pay property tax? If so, I need to know....
@alansach8437
@alansach8437 2 жыл бұрын
@Florida Man Yeah, but property taxes are usually a fraction of what mortgage payments are, and in many states, they will give you a break if you suddenly find your income slashed.
@jordesign
@jordesign 2 жыл бұрын
@Florida Man Even if you rent, you are paying property tax... You just don't see the breakdown. Trust me, the landlords are adding that expense into the monthly.
@bamahama707
@bamahama707 2 жыл бұрын
But taxes might.
@Krynale
@Krynale 3 жыл бұрын
I'm gonna listen to Dave Ramsey on this one. When my mortgage renewal was coming up, I told the bank I was paying off, the rep went from all smiles to sad. I knew I was doing the right thing
@iamhischosen3866
@iamhischosen3866 3 жыл бұрын
Lol
@rudyperez9333
@rudyperez9333 3 жыл бұрын
And you went from all smiles after paying off your house to sad going back to work 9-5
@Krynale
@Krynale 3 жыл бұрын
@@rudyperez9333 As if I wasn't working 9-5 prior... what's your argument?
@cathiemcginnis3997
@cathiemcginnis3997 2 жыл бұрын
@@rudyperez9333 nope. I retired!
@mendez33123
@mendez33123 2 жыл бұрын
@@rudyperez9333 be nice Rudolpho Cruz🤣
@nickcoppard5335
@nickcoppard5335 2 жыл бұрын
I always listen carefully to financial advisors , then do exact opposite, it has served me well since I learned that ,
@barbarailarpenter6815
@barbarailarpenter6815 2 жыл бұрын
Ha!😊
@nickcoppard5335
@nickcoppard5335 2 жыл бұрын
@@barbarailarpenter6815 you better believe it , they cost me thousands lining their pockets , since I ignored them I have done brill ,
@psilocypher
@psilocypher Жыл бұрын
Well in this case, you have two different advisors telling you two different things. This guy and Dave Ramsey. Which strategy are you going with?
@vikkip4256
@vikkip4256 3 жыл бұрын
No debt no stress
@7perfectstorm
@7perfectstorm 10 ай бұрын
Paying off your house is a great feeling.
@mastarinki
@mastarinki 2 жыл бұрын
As an investor and a property owner, the idea of owning a large number of properties makes me shutter. Property ownership can be expensive, tenants are a pain, and homes generally aren’t that liquid. I suspect a middle ground between the two philosophies is the way to go.
@designthinkingwithgian
@designthinkingwithgian Жыл бұрын
yes
@Nperez1986
@Nperez1986 Жыл бұрын
location location location. Only those that dare will achieve greatness
@silencefactor4
@silencefactor4 3 жыл бұрын
This strategy works perfectly until a negative economic shift occurs and the rental properties lose its tenants or the rental rates have to drop. “Freedom” to me looks like not having to risk bankruptcy if I lose my job.
@jayc4715
@jayc4715 2 жыл бұрын
Or get sick/injured
@jayhenry3709
@jayhenry3709 2 жыл бұрын
Or layer off
@jmrichards5910
@jmrichards5910 2 жыл бұрын
or say.... the government gives people permission to quit paying the rent and you can't evict them...
@kreuzrittergottes9336
@kreuzrittergottes9336 2 жыл бұрын
@@jmrichards5910 fortunately that was ruled unconstitutional but it took a long time to reach the obvious conslusion
@johnhunt5365
@johnhunt5365 2 жыл бұрын
Or until everyone is trying to rent houses to everyone else, this only works if a select few of a population does real estate
@changsterville
@changsterville 3 жыл бұрын
Never pay off your house because the bank love this. This is actually a teaching that was created by financial institutions. This make about as much sense as saying you shouldn’t pay off your credit card.
@joycewatt8289
@joycewatt8289 3 жыл бұрын
LOL 😂 but you are right!
@smartcookie3500
@smartcookie3500 2 жыл бұрын
You will own NOTHING and be happy.
@honor4thoseb471
@honor4thoseb471 2 жыл бұрын
Your credit cards aren’t assets
@SandMan50Kal
@SandMan50Kal 2 жыл бұрын
The guy is not saying not to pay your monthly mortgage. He’s saying to not pay off the mortgage debt. Big difference. U still have to make payments, duh
@changsterville
@changsterville 2 жыл бұрын
@@honor4thoseb471 a house is not an asset, it’s a liability. Educate yourself.
@bobrussell7644
@bobrussell7644 3 жыл бұрын
100% of foreclosures happen to houses that have a mortgage
@mementomori29231
@mementomori29231 3 жыл бұрын
Or you lose your home because you can't pay the property tax and lose all your savings locked up in the house.
@joaquimrodriguez8961
@joaquimrodriguez8961 3 жыл бұрын
I'm sure everybody can do the math on that one.
@jackburton6239
@jackburton6239 3 жыл бұрын
@@mementomori29231 mortgage payment=$1500. Tax+insurance=$350
@vijabe
@vijabe 3 жыл бұрын
@@mementomori29231 All things being equal, the only way one couldn't pay property taxes is if tax rates start hyper-inflating. And if tax rates start hyper-inflating, then your fiat savings will soon be worthless, irrespective of their liquidity.
@markblackburn5615
@markblackburn5615 3 жыл бұрын
@@vijabe I can tell you don't live in California!
@zevoni
@zevoni 2 жыл бұрын
Having my house payed off during the covid pandemic was a life saver .I would stay with Dave Ramsay's method .
@mac1bc
@mac1bc 2 жыл бұрын
Didn't Dave first go bankrupt having too many loans out? I agree no debt is the way to go.
@Randoskie
@Randoskie 2 жыл бұрын
@@mac1bc You can lead a horse to water
@driven01
@driven01 2 жыл бұрын
@@mac1bc Yes, when he was younger. He's open about it, and why he is so strongly against getting into debt.
@TheGeneral_LUFC
@TheGeneral_LUFC 2 жыл бұрын
Ramseys advice is ridiculous
@da324
@da324 2 жыл бұрын
@@mac1bc If no debt is the way to go, why do the richest companies in the word borrow millions when they can merely buy things outright?
@Adukwulukman859
@Adukwulukman859 Жыл бұрын
Thank you very much. That's just what I needed to see. My wife and I own a couple properties and have other sources of income in addition to our own business. I am about 52 years old, and we have begun to save in order to retire comfortably and potentially live on rental income. I would greatly appreciate it if you could go LIVE and discuss how to get passive income online and retire happily.
@talented009
@talented009 Жыл бұрын
It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
@ThomasHeintz
@ThomasHeintz Жыл бұрын
Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.
@DarleneMurphy774
@DarleneMurphy774 Жыл бұрын
@@ThomasHeintz Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement
@ThomasHeintz
@ThomasHeintz Жыл бұрын
The investment-advisor guiding me is Elise Marie Terry, she is popular and has quite a following, so it shouldn't be a hassle to find her, just search her
@esther.74
@esther.74 Жыл бұрын
@@ThomasHeintz I just looked up Elise online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.
@nma2354
@nma2354 3 жыл бұрын
Make sure that if you are using this technique, that you can still pay the rent + expenses, with or without having a tenant in the property. This will eleviate the stress to get a tenant asap which may distort your screening process. Scale your wealth responsibly. Calculated risks people.
@jmax6614
@jmax6614 3 жыл бұрын
Exactly
@lorollinls
@lorollinls 2 жыл бұрын
Well said!
@apexlowe2788
@apexlowe2788 2 жыл бұрын
spot on!
@shawnn6926
@shawnn6926 2 жыл бұрын
Landlords need to screen and rescreen and treat them with respect. Bad landlords = bad tenants.
@Rhynoplasty
@Rhynoplasty 2 жыл бұрын
Well said!
@johnzulu2565
@johnzulu2565 3 жыл бұрын
Still the best thing we ever did was to pay off our house early, it has helped us in ever facit of our lives as we use it ofr leverage whenever we want to expand our business!
@TahoeRealm
@TahoeRealm 3 жыл бұрын
I did the same which will enable us to retire early with less worry.
@ctazz2591
@ctazz2591 3 жыл бұрын
I don't regret paying off my house early. This allowed me to work part time etc.
@kbanghart
@kbanghart 3 жыл бұрын
It's great if you want to keep the property, but I'm moving so I don't care.
@lettuceboy2382
@lettuceboy2382 3 жыл бұрын
Consider that if you invested the extra mortgage payments in an index fund you wouldn’t have to work at all
@paulredressparker4288
@paulredressparker4288 3 жыл бұрын
@@ctazz2591 kk
@charliered9391
@charliered9391 3 жыл бұрын
Failed to mention, renting out houses requires finding responsible renters. When no one is renting your house, you are footing the mortgage on it. Any plumbing, roof, furnace, ect issues... You foot that bill too
@vcoonrod
@vcoonrod 3 жыл бұрын
Not to mention that a rent moratorium appears permanent in many states. His system no longer works. Surprised he has not updated his advice.
@charliered9391
@charliered9391 3 жыл бұрын
@@vcoonrod well we watched it.. LoL. I think he still succeeded here
@ABC-gs3fe
@ABC-gs3fe 3 жыл бұрын
@@vcoonrod not work but mortgage still need pay . opppps system error
@runitup544
@runitup544 3 жыл бұрын
That’s the risk. But the reward is worth it
@OmniscientVirtuosity
@OmniscientVirtuosity 3 жыл бұрын
@@runitup544 nah. The “loss” is being homeless. He can have the atvs and dune buggys
@asmitau
@asmitau 2 жыл бұрын
Financial freedom is underrated . Having no mortgage and doing what you want without worrying is the best thing ever !
@kebas239
@kebas239 3 ай бұрын
It definitely is. I've never really had debt and I'm 39. I've always hated it and paid off immediately. I've never even had a mortgage for more than a year. But...This idea is enticing. I'm debt free, have excess income from my job as a single, childless person and it sounds like taking out low interest debt and using it in some sort of investment vehicle could really work well. I'm tempted to try it.
@joycedudzinski9415
@joycedudzinski9415 8 ай бұрын
Everything I own has been paid off for decades. House and cars. I have no credit card debt and my score is 860. The economy is pretty rough right now, but I feel just fine having zero debt. Stop spending, what you don't have.
@breaklocx
@breaklocx 3 жыл бұрын
Paying off my house was the best move I ever did
@spacecash9721
@spacecash9721 3 жыл бұрын
No you just think it is 😂 bad move
@criticalthinker8374
@criticalthinker8374 2 жыл бұрын
Using my house equity made me 12 million dollars.....I'll bet my move beats yours.
@ShepherdMinistry
@ShepherdMinistry 2 жыл бұрын
@@criticalthinker8374 care to explain?
@jasonwill5949
@jasonwill5949 2 жыл бұрын
@@ShepherdMinistry arbitrage. Did you watch the video?
@williea.9704
@williea.9704 2 жыл бұрын
Congrats. What about the recurring cost tied to being a homeowner such as utilities, repairs, state/county taxes, etc.?
@bijnor67
@bijnor67 3 жыл бұрын
And then you run into rent forbearance and inability to evict non-paying tenants thanks to the government.
@daviddave8266
@daviddave8266 3 жыл бұрын
should of bought a one family house then.
@99yota30
@99yota30 3 жыл бұрын
Or you screen your tenants better. 4x rental income and 745+ credit.
@rokyericksonroks
@rokyericksonroks 3 жыл бұрын
Over 90% still have some equity ( i.e. they are not underwater) and yet the government steps in to protect them from due process. It’s wrong. I object to it on moral grounds.
@revatherealestateagentandr8964
@revatherealestateagentandr8964 3 жыл бұрын
There is a mortgage forbearance available as well going on so that investors in apartments, etc. can make it through this. And all the while the property is gaining value. There are buyers itching to buy the rental properties some are wanting to dump due to fear.
@codymorgan9512
@codymorgan9512 3 жыл бұрын
@@99yota30 4x rental and that high credit and not bought a house ??? Hmmm lol
@jking5772
@jking5772 3 жыл бұрын
When people tell you that paying of your house is a bad idea you should never talk to them again about finances
@stanmoney8470
@stanmoney8470 3 жыл бұрын
Exactly! If you have a high debt to income. Paying of your home would reduce your debt. Most lenders would tell you that 🤷🏿‍♂️
@azhardav
@azhardav 3 жыл бұрын
well sir, I would say it depends. If one has high credit card debt or other high debt, pay that off 1St, otherwise mortgage debt is cheap debt and not all debt is bad. Dont forget one gets to deduct mortgage interest, also using equity in your home to take other mortgage and buy other property is wealth building.
@kbanghart
@kbanghart 3 жыл бұрын
I'm definitely NOT concerned about paying off my house, cuz I'm moving to put myself in a better financial spot. My equity has been rising faster than my regular rate of principal pay down.
@keithcastleberry3993
@keithcastleberry3993 3 жыл бұрын
Amen to that!!
@lettuceboy2382
@lettuceboy2382 3 жыл бұрын
It’s not a bad idea but it might not be the best idea
@sarahsmith3859
@sarahsmith3859 9 ай бұрын
We paid off 32K of debt in 18 months. BEST FEELING EVER! We were very good with money, we just didn’t account for risk. When life throws you 5-6 curveballs in a row, you get pretty dodgy about chaining yourself to the oar of the debt ship. Gonna stick with Dave on this one.
@PaxtonsPages
@PaxtonsPages 2 жыл бұрын
This works out great if every rental property always has a tenant. This is an extremely risky strategy that might work out, and could very easily turn into bankruptcy. That's not freedom. That's stress.
@cute2neko
@cute2neko 2 жыл бұрын
True that but is freedom from the boss on your ear at least
@SmallSpoonBrigade
@SmallSpoonBrigade 2 жыл бұрын
Honestly, unless you've got a bunch of time and energy, you're probably better off buying into a REIT rather than buying your own rental properties. It's something that really was hammered home during the pandemic when there was a moratorium on evictions, but not on the collection of rent or the mortgage payments to cover those properties. At least with a trust, there's the possibility of owning a slice of enough different classes of real estate to reduce the risk of one tenant not paying.
@redeemablesoul
@redeemablesoul 2 жыл бұрын
Stress and high blood pressure.
@johnw6648
@johnw6648 Жыл бұрын
the value of reit's generally is down a lot @@SmallSpoonBrigade
@rocky3chickens799
@rocky3chickens799 3 жыл бұрын
So tell us about the tenants that don't pay rent. Tell us about the tenants that trash the house. Tell us about the rental property maintenance.
@JP-de6yz
@JP-de6yz 3 жыл бұрын
Yea. Tell us about it. Lets hear it.
@hapaharley1706
@hapaharley1706 3 жыл бұрын
Shoulda got better tenants. You know there's a screening process right?
@daviddave8266
@daviddave8266 3 жыл бұрын
should of bought a one family house
@runitup544
@runitup544 3 жыл бұрын
Tell us why you had poor tenants
@dannystephenson4197
@dannystephenson4197 3 жыл бұрын
Buy land and grow trees up until the green bugs come.
@herbey79
@herbey79 3 жыл бұрын
You should always pay off your debt as soon as you can and start buying assets that produce income. Ask anyone who had loads of debt and saw interest rates rise and rise only to lose their houses and businesses.
@jimz.438
@jimz.438 3 жыл бұрын
EXACTLY, this dude has not lived through an economic downturn yet. He's too young to know; therefore, he doesn't even know what he doesn't know!
@lorenaelizabethmontielvies563
@lorenaelizabethmontielvies563 3 жыл бұрын
So true!
@adorolivar1340
@adorolivar1340 3 жыл бұрын
Spot on Nigel.
@EverydayMoney0
@EverydayMoney0 3 жыл бұрын
Mortgage debt is usually fixed rate debt that is unaffected by rising rates.
@raftika1
@raftika1 3 жыл бұрын
@@jimz.438 isn’t that what’s happening right now?
@kathywindsor9666
@kathywindsor9666 3 жыл бұрын
Having no mortgage is financial freedom. As long as you have a mortgage, the bank owns your home . if you can’t pay the mortgage the bank will take it.
@MrRobertMacknaw
@MrRobertMacknaw 3 жыл бұрын
You never really owe your house. If you dont pay real estate taxes your house will be taken from you and sold.
@y_yy_2844
@y_yy_2844 3 жыл бұрын
@@MrRobertMacknaw But paying someone else's mortgage + property tax, or your own mortgage + property tax, is better than just only paying your own property tax?
@joycewatt8289
@joycewatt8289 3 жыл бұрын
Say that a little louder in case the folks in the back didn’t hear ya! Homeownership 101 is WHEN you have a mortgage 💸 you don’t actually OWN the home. It should be called “home non-ownership.”
@juliesnow5542
@juliesnow5542 2 жыл бұрын
The h.o.a. Can take your house too, along with the bank, and if you don’t pay your taxes, the gov’t will take it as well.
@miyard9233
@miyard9233 2 жыл бұрын
@@MrRobertMacknaw True, but the Guy who pay off his mtg would be a fool not to pay his property taxes which is a fraction of the yearly mtg payments.
@GloriaMoore01
@GloriaMoore01 5 ай бұрын
Successful people/millionaires don’t tell the poor/middle class their secret to success, they seek the ideas of finance coaches to help build their wealth. If anyone here needs a good coach, here’s it..
@GloriaMoore01
@GloriaMoore01 5 ай бұрын
I am fortunate I made decisions that changed my finances for the better (gained over 1M in 2yrs) through my financiaI coach. Got my 2nd house in May and hoping to retire next-year
@GloriaMoore01
@GloriaMoore01 5 ай бұрын
Elizabeth Greenhunts get to her with the name
@DennisMaddox3
@DennisMaddox3 5 ай бұрын
Good I got here, thanks.
@LindaLane01
@LindaLane01 6 ай бұрын
*“How To Acquire Wealth”*
@LindaLane01
@LindaLane01 6 ай бұрын
The first step to attaining wealth is figuring out your goaIs and risk toIerance - either on your own or with the heIp of a financiaI pIanner, and foIIowing through with an inteIIigent pIan, you wiII gain financiaI growth over the years and enjoy the benefits of managing your money.
@LindaLane01
@LindaLane01 6 ай бұрын
I am fortunate I made productive decisions that changed my finances (gathered over 1M in 2years) through my financiaI planner. Got my 2nd house in Feb, and hoping to retire soon.
@LindaLane01
@LindaLane01 6 ай бұрын
Give this a try and attain wealth. Get to her
@LindaLane01
@LindaLane01 6 ай бұрын
Elizabeth Greenhunts
@SHARK-td9ui
@SHARK-td9ui 3 жыл бұрын
DO NOT TAKE FINANCIAL ADVISE FROM THIS GUY EVER!!
@user-ne9wp8ve5u
@user-ne9wp8ve5u 3 жыл бұрын
Agreed!!
@Larrydastooge
@Larrydastooge 3 жыл бұрын
You can say that about many. Do Your HOMEWORK!!!
@tyronekim3506
@tyronekim3506 3 жыл бұрын
Right. The guy is in a dream world.
@lvsqcsl
@lvsqcsl 3 жыл бұрын
Do you think?
@LeverPhile
@LeverPhile 3 жыл бұрын
I'm having flashbacks to the late 90s and mid 00s listening to this guy ..
@uf1978
@uf1978 3 жыл бұрын
Pay off your house asap! Never listen to someone who says otherwise.
@user-ne9wp8ve5u
@user-ne9wp8ve5u 3 жыл бұрын
Agreed!
@consumerdebtchitchat
@consumerdebtchitchat 3 жыл бұрын
18 payments left and I ain't stoppin. Agree totally!!
@AMPProf
@AMPProf 3 жыл бұрын
ehhh..... millionaires never own their homes!
@jx6564
@jx6564 3 жыл бұрын
@@AMPProf tell Buffet...or Slim...or wait...Gates...
@steelphantom9105
@steelphantom9105 3 жыл бұрын
This guy is giving bad advice, don’t listen to him.
@horaciocorral8193
@horaciocorral8193 3 жыл бұрын
Im happier that the house is payed off. A mortgage blows, its slavery.
@edhcb9359
@edhcb9359 3 жыл бұрын
So since you still have to pay property tax every year aren’t you technically still a slave?
@Will13874
@Will13874 3 жыл бұрын
@@edhcb9359I'd rather pay property taxes than a mortgage plus property taxes.
@oscarrlee18
@oscarrlee18 3 жыл бұрын
No mortgage is no write off so higher taxes anyway. It blows because you don t get it and you never will so enjoy. And learn to spell.
@jayc4715
@jayc4715 3 жыл бұрын
Agreed
@juanguzman3143
@juanguzman3143 3 жыл бұрын
@@oscarrlee18"don't"
@kortyEdna825
@kortyEdna825 6 ай бұрын
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
@PatrickFitzgerald-cx6io
@PatrickFitzgerald-cx6io 6 ай бұрын
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
@foden700
@foden700 6 ай бұрын
Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
@Justinmeyer1000
@Justinmeyer1000 6 ай бұрын
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
@foden700
@foden700 6 ай бұрын
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
@Justinmeyer1000
@Justinmeyer1000 6 ай бұрын
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
@spottiesbrand7401
@spottiesbrand7401 2 жыл бұрын
Payed off my house at 40 now I can invest freely.
@adorolivar1340
@adorolivar1340 3 жыл бұрын
paying off your mortgage is a guaranteed winner - giving you peace of mind and sound sleep at night whilst investing though It's mathematically correct but it has a potential risk and uncertainty ie, if rate rises, you lose you job, property values going down...so really it is a case by case depending on your circumstance
@nickade2256
@nickade2256 3 жыл бұрын
Your advice has too many mutually inclusive assumptions that are dependent on each other. My advice: eliminate or minimize debt.
@filemonshitaleni1398
@filemonshitaleni1398 3 жыл бұрын
@Nick Ade and provided that all those conditions prevail. There's too many factors to consider.
@Arroyoruiz
@Arroyoruiz 2 жыл бұрын
Thats why my landlord loves us. We pay our rent on time never really call him with no issues and have his house clean and taken care of.
@bryangriffin3139
@bryangriffin3139 9 ай бұрын
Dude, how crazy I was just listening to that dude you’re talking about and what I learned is keep my 30 or Mortgage at 2.75 and just pay on it like it’s a 15 year loan just pay extra payments. Be done with it in 15 years and you don’t have to change anything.
@billnavas-q8b
@billnavas-q8b 3 ай бұрын
Paying off your house is the best investment then you don't have to worry about it
@lizmabie8519
@lizmabie8519 3 жыл бұрын
👏👏👏 Well done on the production value of this video. Your bad advice was delivered excellently.
@TonTreyMarc
@TonTreyMarc 3 жыл бұрын
Bol!!!!
@dvbernard
@dvbernard 3 жыл бұрын
Videos like this all have the assumption of no economic downturns or large, unforeseen maintenance costs. When you're loaded with debt and are only "wealthy" on paper (i.e., when you never completely own anything) a sustained downturn is going to screw you hard. This was literally the logic of the 2008 housing crash.
@eddyvideostar
@eddyvideostar 3 жыл бұрын
@@dvbernard: To Ian Hernandez: Yes. It's a dangerous and burdensome business. No matter how well and successful your people skills are (arse kissing), there is no guarantee that the tastiest creme de la creme will not turn rancid and stale.
@astroman30
@astroman30 3 жыл бұрын
This is the best comment I've seen in a long time.
@joycewatt8289
@joycewatt8289 3 жыл бұрын
Lol 😆
@tiensania1816
@tiensania1816 3 жыл бұрын
All the best financial advisers said: pay off your mortgage if you could.
@khadijahdavis1572
@khadijahdavis1572 2 жыл бұрын
Right, this guy is giving horrible advice
@rebeccataylorshaw6532
@rebeccataylorshaw6532 2 жыл бұрын
Psychological capitalism
@adrianespinoza1561
@adrianespinoza1561 3 жыл бұрын
Pay off house ...and live happy!!!
@jasoncentore1830
@jasoncentore1830 3 жыл бұрын
Whatever people say, their is no advantage to paying a mortgage. Use the $ you no longer pay your mortgage with to invest. Even if market crashes to $0 you own your 🏠
@MR..181
@MR..181 3 жыл бұрын
But not in an hoa as debtors buy in at zero down and promise to pay at 3.5% that forces you to sell at higher price, as the inflation cost of their threats and demands make owning trouble.m
@rjdal8873
@rjdal8873 3 жыл бұрын
@@jasoncentore1830 you never own your home. Try not paying your property taxes and see if you own it.
@butterfly9274
@butterfly9274 3 жыл бұрын
@@rjdal8873 exactly!
@b__w_4565
@b__w_4565 3 жыл бұрын
@@rjdal8873 ya bro i wanna find a country with no property tax honestly. after I've made a few hundred thousand at least.
@GMCTIM
@GMCTIM 9 ай бұрын
The Last payment on ur home is the Best one You'll ever pay !
@armandoweckmann5699
@armandoweckmann5699 4 ай бұрын
I paid my house off in 2020 when I was 39 years old 🎉 its worth $400k in my state, NM USA 🇺🇸 I have zero regrets. I don't aspire to be super wealthy. When I die, I ain't taking any of it with me. I have no kids either. Why not enjoy life with all this freedom. I get it money buys cool stuff. I have investments that turn a profit. I can do basically what I desire whenever I want. I might not have lamborghini or Jets, but I don't desire material stuff. Im enjoying life now... 😊
@JeanFrancoisDesrosiers
@JeanFrancoisDesrosiers 3 жыл бұрын
This makes sense when the house is only occupied by yourself or tenants: not your kids and anxious wife. Raising risks of loosing the family nest often doesn't worth the stress of doing it.
@kbanghart
@kbanghart 3 жыл бұрын
Yeah, my wife and kids already went thru the 2008/9 crash stress, got our home foreclosed, we sure learned our lesson. Not doing anything risky ever again. Which also can have its downsides as well.
@jmrichards5910
@jmrichards5910 2 жыл бұрын
I don't think I heard this snake oil salesman say "risk" even once.
@robi6317
@robi6317 2 жыл бұрын
@@kbanghart are you renting now? you should still buy vs rent - esp if the loan you got back then was a loan they shouldnt have given you. owning a home is how most people build wealth
@Dontex_r
@Dontex_r 2 жыл бұрын
@@jmrichards5910 I wouldn't say he's a snake oil salesman but he did leave out that this is a hugeee risk...
@davisholman8149
@davisholman8149 2 жыл бұрын
THE PSYCHOLOGICAL ADVANTAGE does not have a price tag. This is something people need.
@jacobm1001
@jacobm1001 3 жыл бұрын
Debt is slavery. Pay off the house. Buy what you need not everything you want unless you have $.
@kbanghart
@kbanghart 3 жыл бұрын
NO thanks, I'm not paying mine.
@pmstff700
@pmstff700 3 жыл бұрын
Normally I would agree. Currently, there is no job security, and having to make that mortgage when the government tells your tenants they don’t have to pay rent....well you still have to be able to make the payments to the bank, so you better have some funds saved. Whole new ball game now days. 10 years ago when you were 26 this was great.
@Andy-ss8yg
@Andy-ss8yg 3 жыл бұрын
Maybe that’s the deep reason why the government allows tenants to have all the power, to prevent a lot of people from doing this due to horror stories
@jimdavis5400
@jimdavis5400 3 жыл бұрын
Let's go Brandon!!!
@noobsaibot1182
@noobsaibot1182 2 жыл бұрын
@@jimdavis5400 why are you so confused about reality
@SmallSpoonBrigade
@SmallSpoonBrigade 2 жыл бұрын
@@Andy-ss8yg The government wants smaller landlords to lose their properties so that private equity can get a stranglehold on the market and prevent people from ever buying their own home.
@cakyle1982
@cakyle1982 Жыл бұрын
EXACTLY!!! Socialism in business and government turns the tables in the last couple years. To say a few homes owned with 4500 a month in rent. But thats not guaranteed. And your home depends on it. This video is fraught with discrepancies.
@SeanTalkoff
@SeanTalkoff 7 ай бұрын
Mortgage rates are currently at an all time high since 2000(23 years) and based on statistics on inflation, we might see that number skyrocket further, a 30-year fixed rate was only 5% this time last year, so do I just keep waiting for a housing crash before buying or redirect my focus to the equity market
@SteveDutton-v
@SteveDutton-v 7 ай бұрын
if you believe the only way to make money is the market then this would be true but there fixed rates out there today at 6% and if you position your funds correct for taxes your nets can be much higher in the end
@lawrencedyke
@lawrencedyke 7 ай бұрын
in my opinion, it was much easier investing back in the 60s but it’s a lot trickier now, those making consistent profit in these times are professionals reason I’ve been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.
@WillieNickell
@WillieNickell 7 ай бұрын
my partner’s been considering going the same route, could you share more info please on the advisor that guides you.
@lawrencedyke
@lawrencedyke 7 ай бұрын
'Amber Dawn Brummit' is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@WillieNickell
@WillieNickell 7 ай бұрын
Thank you for this Pointer. It was easy to find her handler, She seems very proficient and flexible. I booked a call session with her.
@ezdeezytube
@ezdeezytube 2 жыл бұрын
Wow. So many folks who tried to HELOC their way to wealth will soon learn what the risk was as interest rates go up and home prices go down. Insane.
@shawncole9388
@shawncole9388 3 жыл бұрын
If you owe 200k and your house is worth 400k that means the house you purchase to rent is going to be overpriced as well. So you increase your mortgage payment by borrowing against it to purchase the other house plus the payment on the other house is going to be really high with only 50k down. Where is the $450 profit coming from? The rent payment you collect most likely won’t cover the payment or the the equity line payment.
@bc_usa
@bc_usa 3 жыл бұрын
You forgot that you also have to pay back the equity loan you took out on your house...he never mentioned that.
@MrChevelle83
@MrChevelle83 2 жыл бұрын
@@bc_usa He never mention mortgage interest vs simple interest, and closing cost, thats just the bank part. What about the yearly maintenance on several houses???? so many things left out.
@sephorareynolds5786
@sephorareynolds5786 2 жыл бұрын
Yeppp he is living in lala land… that is the land of make belief… with that advice
@SmallSpoonBrigade
@SmallSpoonBrigade 2 жыл бұрын
@@bc_usa Also, keep in mind that on some types of loans that are backed by your house, you may wind up losing the home if the bank calls the loan and you can't arrange a new loan in time to prevent that from happening.
@jaynetolman1457
@jaynetolman1457 2 жыл бұрын
@@bc_usa That's exactly what I was thinking
@rokcestnik8761
@rokcestnik8761 3 жыл бұрын
Best debt is no debt, thats my motto.
@gspainting11
@gspainting11 2 жыл бұрын
Well said!!
@GVW2012
@GVW2012 3 жыл бұрын
The best sleep🛌🛌🛌 is sleep with zero debt....u should try that someday dude 😂
@gmoney860
@gmoney860 3 жыл бұрын
Absolutely!!!
@steelisthemeal
@steelisthemeal 3 жыл бұрын
True
@barttfisher
@barttfisher 8 ай бұрын
I’m 36 and I have about ($190k) liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at stocks instead?
@FinnBraylon
@FinnBraylon 8 ай бұрын
Yes, housing crash is coming. If you're thinking about investments to earn huge income while maintaining the ability to access your money and safety, so you don't get caught in a market decline, a financial planner can come in handy
@HildaBennet
@HildaBennet 8 ай бұрын
True, a lot of folks downplay the role of advisors, until being burnt by their own emotions, no offense intended. Amid covid-19 pandemic crash, I needed a good strategy to grow my portfolio, thus I consulted the service of a true market strategist that helped to rejuvenate my $700k portfolio, boosting its return over 240% as of today.
@PennyBergeron-os4ch
@PennyBergeron-os4ch 8 ай бұрын
I was taught well on how to save, nothing on dividends, but now in my mid 30s, I'm really ratcheting up investments with the help of a reputable advisor, realized nearly $800k after subsequent investments in barely 4 years so far. I do think I have dropped a lot of stress about finances having a long term perspective about investing.
@HildaBennet
@HildaBennet 8 ай бұрын
This is great! think your manager would get on the phone with an unknown? I'm concerned about my savings due to high inflation.
@HildaBennet
@HildaBennet 8 ай бұрын
It's good you make your own research. and make sure whoever you work with is licensed n verifiable with a repute, this Sonya looks the part but i'd do my due diligence. I set up a call, thanks.
@Torch_Man_35
@Torch_Man_35 2 жыл бұрын
Yeah this definitely works in theory…. Until the renters refuse to pay rent and you have to pay to have them evicted and that can take 2+ months. And then you’re screwed.
@joycebarnett6035
@joycebarnett6035 3 жыл бұрын
If you have rentals all mortgaged right now and your tenants are not paying and they wont do a forebearance on a non owner occupied home guess what your home will be repoed at the end of the foreclosure ban. Unless you pay the mortgage and go broke. 10 MILLION HOMEOWNERS ARE BEHIND ON MORTGAGE PAYMENTS WAKE UP PEOPLE!
@rebeccarussell6112
@rebeccarussell6112 3 жыл бұрын
"10 million homeowners are behind on mortgage payments"- How can I obtain the list of owners that are behind?
@robi6317
@robi6317 2 жыл бұрын
how many of the 10M LIVE in those homes? this is a rare case where an investment (owning rental property) didnt work out, and thats the way it goes sometimes.
@karcharias811
@karcharias811 3 жыл бұрын
This is precisely the kind of advice you expect to hear during boom times like these. How does it all work out when the bust comes? Not well.
@lettuceboy2382
@lettuceboy2382 3 жыл бұрын
It works out when you have time on your side to ride the ups and downs of the market
@charlesperigord1599
@charlesperigord1599 3 жыл бұрын
Finding an investment that pays a 25% return may not be as easy as he makes it sound . . .
@hifinsword
@hifinsword 3 жыл бұрын
@@lettuceboy2382 Whether it's the real estate market or the stock market, there will be ups and downs. You need a financial cushion to ride out the ups and downs.
@the_fixer_guy
@the_fixer_guy 3 жыл бұрын
When the tide goes out is when you find out who's skinny dipping!
@criticalthinker8374
@criticalthinker8374 2 жыл бұрын
@@hifinsword Yes, you never over leverage ! That will ruin you ! Careful leveraging is the key.
@emagneticfield
@emagneticfield 3 жыл бұрын
Many people took your advice and because of covid and the rent moratorium got screwed. There was a video on KZbin of a woman and her child living in their car because of a bad tenant they couldn’t evict or collect rent from. SAD
@SceneFailsss
@SceneFailsss 3 жыл бұрын
Where’s the link , cap
@condayperez6818
@condayperez6818 2 жыл бұрын
HELOC’S work great where you’re able to utilize the equity in your home, but I would suggest a HELOC only if you are pulling out a small amount of the equity. If you are trying to pull out a large amount, it could definitely be risky especially today with rates on the rise. Considering a fixed rate refi is less riskier than a HELOC when you’re pulling out the type of equity described here.
@yoursafemoneypeople
@yoursafemoneypeople 5 ай бұрын
House appreciates or depreciates regardless of how much is in it 🤙
@harleyrider4629
@harleyrider4629 3 жыл бұрын
You want to pay off your home to own it and not be in bondage to debt. Don’t let anyone fool you. Leveraging credit is a completely different ballgame than personal debt.
@AwholvNation
@AwholvNation 3 жыл бұрын
Pay off your mortgage, work less, actually live your life instead of just paying bills.
@robi6317
@robi6317 2 жыл бұрын
^^^^^ THIS!!!
@qt3dot146
@qt3dot146 2 ай бұрын
Well if it's just that easy by saying it out loud, just say "Just go win the lottery". You people are so stupid with your hypocritical comments.
@vloghog1
@vloghog1 3 жыл бұрын
No way on God's green Earth am I getting a 40 year mortgage.
@Yasin_ylp
@Yasin_ylp 3 жыл бұрын
@Katherine P well said
@mjack618
@mjack618 3 жыл бұрын
😂😂
@HisMaidservant
@HisMaidservant 3 жыл бұрын
amen!
@greenearthblueskies8556
@greenearthblueskies8556 3 жыл бұрын
🤣🤣🤣🤣🤣
@FinanceHubb_
@FinanceHubb_ 3 жыл бұрын
never!!!!!
@milradoc7307
@milradoc7307 Жыл бұрын
Peace of mind is priceless!
@captaindrywall
@captaindrywall 2 жыл бұрын
ok this is why you keep an old guy around: in the old days, pre WW2 if you had a mortgage the bank could call it in at any time they wanted. Thus you didn't want to get stuck with only a few years left and bank come calling. So it was very important to pay off the Mortgage.
@Bulletcore
@Bulletcore 3 жыл бұрын
Yeah... I'm still paying off my mortgage at the end of this month. 😅
@kbanghart
@kbanghart 3 жыл бұрын
Nice!! I'm not paying mine off, instead I'm moving.
@dianepereira1860
@dianepereira1860 3 жыл бұрын
Congratulations!
@RandomJane104
@RandomJane104 2 жыл бұрын
Congrats!
@nathanmugge1369
@nathanmugge1369 3 жыл бұрын
As some one with an accounting and finance degree, I can clearly show the math where this guy is 100% WRONG
@koreysmith7563
@koreysmith7563 3 жыл бұрын
Please show! I’m on the fence and see some positives from this (obviously plenty of unspoken negatives too) but math is truth I’m told.
@nicovianes
@nicovianes 3 жыл бұрын
Following. Would love to see the math.
@ThePennyTraderr
@ThePennyTraderr 3 жыл бұрын
Nathan please show the maths
@hectorsalazar1004
@hectorsalazar1004 3 жыл бұрын
Where is Nathan Mugge??? People want to see the math...
@johndough23
@johndough23 3 жыл бұрын
@@koreysmith7563 .25% savings return vs say a 3% mortgage. A mortgage btw which is much higher up the rate scale depending on how long you have had said loan. That's most mortgages. Any questions?
@dannybgoode6505
@dannybgoode6505 3 жыл бұрын
To quote Dave Ramsey, 100% of foreclosures are on houses with a Mortgage.
@TheHealthyAmericanPeggyHall
@TheHealthyAmericanPeggyHall 2 жыл бұрын
I didn't see in the first example where you have to pay the HELOC every month
@0013619511
@0013619511 6 ай бұрын
This is an excellent lesson! An older person may not want to pay off a Mortgage because they already have a lot of equity the only tax deduction is your mortgage each year .
@thatguy6207
@thatguy6207 3 жыл бұрын
What happens when Biden says your renters don’t have to pay rent… Yes, that just happened.
@SceneFailsss
@SceneFailsss 3 жыл бұрын
What ??????
@thatguy6207
@thatguy6207 3 жыл бұрын
@@SceneFailsss I guess you missed the last year where renters who didn’t pay could not be evicted because Biden said they couldn’t be kicked out.
@isaachaze1
@isaachaze1 3 жыл бұрын
that was put in place under trump lol. nice try though
@XCT82
@XCT82 3 жыл бұрын
house of cards. and trump set that up, not biden. Correction: CDC set it up.
@tommyemler1763
@tommyemler1763 3 жыл бұрын
@@XCT82 it was the CDC.... But turns out was unconstitutional
@northwestgardener5076
@northwestgardener5076 3 жыл бұрын
Just had a renter break a window, he is blaming it on the heat wave. Looks like the rent will be going up in January. Ordered the replacement today.
@patrickm6012
@patrickm6012 3 жыл бұрын
@@joel0990 sometimes them leaving is better than dealing with a bad renter.
@remnad2323
@remnad2323 3 жыл бұрын
My "last" tenants did over $6k of damage after not paying rent and eviction. He then quit his job so that I couldn't get my court ordered losses. After over 10 years of renting, I no longer had the energy to br a landlord any longer. One yesr later of having the vacant property, I sold it.
@ernestjackson5812
@ernestjackson5812 3 жыл бұрын
🤣🤣🤣🤣
@amyzieger5198
@amyzieger5198 3 жыл бұрын
issue them out a swift spanking against the hard brick wall too with it sir!!!
@DividendFinanceFools
@DividendFinanceFools 3 жыл бұрын
Murphy's law, this is how people go bankrupt
@WesB1972
@WesB1972 3 жыл бұрын
It can be a house of cards.
@RobMac602
@RobMac602 3 жыл бұрын
Isn't this how Dave Ramsey went broke to begin with?
@evelynvargas1870
@evelynvargas1870 5 ай бұрын
I realized the equity in my home is useless unless I use it to reinvest the equity. Thank you this confirms what I need to do. Invest in my third home wisely
@RickyAvelino
@RickyAvelino 2 жыл бұрын
Thanks Kris. Ricky here from Philippines
@klncow
@klncow 3 жыл бұрын
His first idea is exactly what dave ramsey was doing when he went broke!!!
@kickinkanga7026
@kickinkanga7026 3 жыл бұрын
Gold🤣👍
@TheEllaTB
@TheEllaTB 3 жыл бұрын
I was just thinking that lol come back when you are Dave's age and let's see then what the actual results are.
@Genx1967er
@Genx1967er 3 жыл бұрын
Exactly. Roll the dice
@sangheeozuna3894
@sangheeozuna3894 3 жыл бұрын
😂
@AMEX4Life
@AMEX4Life 3 жыл бұрын
Exactly
@dobcsek
@dobcsek 3 жыл бұрын
Hmmm….not convinced. I still want to pay off my mortgage ASAP.
@paulw1570
@paulw1570 3 жыл бұрын
No debt...no worries & at 57...im cool with that 😎
@rosesandthorns47
@rosesandthorns47 3 жыл бұрын
Best thing.
@AMPProf
@AMPProf 3 жыл бұрын
listen here if you hook me up with your social security number, date of birth, birth name, and address I'll gladly let you borrow at 25%! lol
@jeffjohnson9872
@jeffjohnson9872 2 жыл бұрын
One thing you forgot to say, is that once you get the five homes you're going to have five payments that you have to come up with
@markwegner6100
@markwegner6100 Жыл бұрын
Rent pays mort.
@eiooops
@eiooops Жыл бұрын
I agree with Dave..
@oyunchallenge6893
@oyunchallenge6893 3 жыл бұрын
Be your own person , be independent, and show the world how much you have to offer , What do you think about *Linux tech corps* ?? I think it’s the gateway we all need
@investwithww.virtualcrypto4025
@investwithww.virtualcrypto4025 3 жыл бұрын
I think they are the best !!
@chuckiedavidson719
@chuckiedavidson719 3 жыл бұрын
This guy is everyone’s broke brother-in-law
@aaronsandell4830
@aaronsandell4830 3 жыл бұрын
Actually he's very wealthy but nice try
@davysmith8569
@davysmith8569 3 жыл бұрын
@@aaronsandell4830 he may be wealthy but his results do not equal = yours or mine. Its all risk.
@jayc4715
@jayc4715 3 жыл бұрын
😆
@phasetoo1
@phasetoo1 2 жыл бұрын
😂😂😂😂😂😂😂😂
@nathanupchurch6594
@nathanupchurch6594 3 жыл бұрын
Dave Ramsey is right. Read his book though because Kris is misleading in what he says. The only debt Dave says you should have is a mortgage.
@ChrisSoignier
@ChrisSoignier 3 жыл бұрын
My net worth and passive income would be a LOT less if I followed Dave's advice. Like Kris said, are you playing to win or playing not to lose? I don't know any wealthy Dave Ramsey disciples, but I do know a lot of wealthy people who responsibly use OPM to create wealth.
@spacecash9721
@spacecash9721 3 жыл бұрын
Agreed, I cannot believe all of the negative comments in this video, it’s appalling.
@Berrypancakes229
@Berrypancakes229 2 жыл бұрын
I agree!
@chowchow4177
@chowchow4177 2 жыл бұрын
takes $ to make $$$
@davejohn255
@davejohn255 2 жыл бұрын
@@ChrisSoignier What is the definition of wealth?
@MrCharrrles
@MrCharrrles Жыл бұрын
This makes sense if you can make a better return than the bank interest rate but most people simply can't and even if you can it's a high risk investment which needs a clear cut back out plan
@AroundtheBendPhotos
@AroundtheBendPhotos 5 ай бұрын
Did exactly what you are saying back in 2006 and lost several rentals because I of this stupid idea… don’t spend money that isn’t yours is my advice! Just watch what is coming soon- so glad I don’t have any rentals!
@johnk5825
@johnk5825 3 жыл бұрын
Anyone recommending you take out a home equity loan, don't walk away, RUN!
@normmac953
@normmac953 3 жыл бұрын
Would love to see where in the US you can make a 25% ROI in America.
@jca66
@jca66 3 жыл бұрын
You and me both.
@scottnicholls8083
@scottnicholls8083 3 жыл бұрын
@@jca66 Single family rental houses, 80% leveraged. Did you not watch the video?
@jca66
@jca66 3 жыл бұрын
@@scottnicholls8083 nope.
@mhenry5132
@mhenry5132 3 жыл бұрын
@@scottnicholls8083 rent prices don't match current house prices in many markets
@erikdahl3171
@erikdahl3171 3 жыл бұрын
To me leveraging credit to invest in assets and build income is a little bit different than debt. Do you go into debt to leverage credit to invest yes. Definitely not the same as running up credit cards, buying cars you can't afford etc... only hard part now is whether you will get burned by renters supported by the government or not.
@tvue2322
@tvue2322 11 ай бұрын
You are a genius brother! Im glad I found you. I'm in the middle of purchasing my first multi-family home!
@marioandultrachap
@marioandultrachap 5 ай бұрын
This quote makes more and more sense the more I learn about life and money "Those who would give up essential Liberty, to purchase a little temporary Safety, deserve neither Liberty nor Safety" Benjamin Franklin
@aseelstars8825
@aseelstars8825 3 жыл бұрын
*Linux tech corps* is the key to the future and that’s on everything , it’s better you all start now because this is something everyone needs to look into
@artcrouse1517
@artcrouse1517 3 жыл бұрын
Not sure what rental property he’s buying at $50K and getting a 25% ROI…
@AMPProf
@AMPProf 3 жыл бұрын
he probably went to the boofoo boonies and rents out to farm hands/crackadoos!
@rprastein
@rprastein 3 жыл бұрын
Yeah.
@amyzieger5198
@amyzieger5198 3 жыл бұрын
Perhaps small porta-johns sir!!!
@kristinstaggers7009
@kristinstaggers7009 2 жыл бұрын
Lol. He said $50k down payment
@timmartin723
@timmartin723 3 жыл бұрын
I think Dave's house is bigger than Kris! Stick with Dave!
@w1ldthin9
@w1ldthin9 3 жыл бұрын
hahah this is the best comment ive read so far
@gurumack
@gurumack 3 жыл бұрын
Lol Kris is balling and has a tour of his house
@runitup544
@runitup544 3 жыл бұрын
Definitely don’t decide whether who you should pick because of the house size
@lettuceboy2382
@lettuceboy2382 3 жыл бұрын
How about going with math?
@user-ne9wp8ve5u
@user-ne9wp8ve5u 3 жыл бұрын
Yes!!😆😆
@beatricebolger9824
@beatricebolger9824 Жыл бұрын
This has been very informative thank you.
@ersinc9080
@ersinc9080 2 жыл бұрын
Leverage is great until something goes wrong.
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