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- เผยแพร่เมื่อ 5 ต.ค. 2024
- Watch Part 6: goo.gl/qTYAv9
Part 4: goo.gl/J2bh8b
Part 1: goo.gl/sJoaW2
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In this clip, Mathew Knowles detailed some of the financial moves that have helped him establish wealth. He discussed how a salon he and Tina started made them their first million dollars back in 1984. Mathew Knowles also discussed some of his new ventures and investments in e-learning and e-sports.
Later on, Mathew Knowles and DJ Vlad broke down the myth that becoming a homeowner is the route to establishing wealth. They both shared the benefits of renting for one's primary home while Mathew Knowles did admit that he still owns rental properties.
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Watch Part 4: goo.gl/J2bh8b
Part 1: goo.gl/sJoaW2
djvlad
I never owned a house, I live in an apartment rightnow, I’m young, live paycheck to paycheck, what’s my next move, just rent? Idk what to do I need help 🤷🏻♂️
djvlad your a joke bro
Tony Donald *you’re
Wtf is this ? If I want financial advice I will read the Wall Street journal I watch vlad to be entertained, if you are dumb enough to be watching vlad to be financially successful you’re already a lost cause !
Stick to the entertaining vlad you can’t be all things at once
Here’s what my grandfather told me about renting vs. buying. “God isn’t making anymore land! - get you a piece of this planet boy!” My grandfather left 12 houses to us in his will and over 1,000 acres of land. Those 12 properties were all paid for before he died and ARE STILL income generating properties! I have a 15 year mortgage on my home which will be paid for in four years. My son will inherit my property. It’s a lifestyle choice not to rent or buy. You can build wealth by buying...not by renting. It’s cheaper than renting in nearly every case!!!! What Matthew Knowles is talking about is a LIFESTYLE CHOICE! Big difference.
Shout out to your grand dad his choices will benefit the future of kids kids
You were spot on in your comments. I like your grandfather's comments as well...
Preach
My grandmother always said, when you rent, you are paying someone else's mortgage.
I am in no mood to finance someone else's dream. I own, own, own.
his daughter is one of the greatest entertainers ever, Ima listen to dude and take notes. smart man.
movingandgrooving exactly! His personal life may be messy but I can appreciate his knowledge in business!
He taught her alot
movingandgrooving thank you
MzEbbyFrost 💯💯💯facts
movingandgrooving your an idiot
It is so fascinating to see black folks talk on this type of stuff. It seems everywhere you go in media you see lots of black folks acting a fool. A young black man on the come up needs and is starving for this type of information from black folks who've come from similarly meager beginnings to "make it" the traditional way especially if they're navigating through predominantly non-black settings. This stuff is disappointingly scarce. Surely I'm not the only one looking for more stuff like this. Is there room for those of us who are tired of hearing about rap beef and sneakers all the time?
una4all1 there is. It’s not on TH-cam tho. Or Facebook, Instagram or any other social media platform.
una4all1 you shouldn’t be looking toward vlad tv for good representation dumbass
Check out riseandgrind.com..and the book "how to make a dollar out of fifteen cents" both by Daniel Freeman....that book should be required reading for every highschool senior....short and to the point chock full of very sound and practical financial advice geared toward people starting from scratch.....
@@soundcloudrappers6754 una4all1 litterally just said that this is good content. So in actuallity she sayin, Vlad needs to focus more on topics like finances and any other social media platforms should start having more content with talks like this one Vlad's. She's not saying that rap beef and shoes is all Vlad talks about so shes in the right place for the representation she's looking for...And you should hear out what the person your gonna respond to is saying before calling them a "dumbass", DUMBASS
Thank you! 👏🏾
A black executive in the 80s....got damn
Aaron Art yeah, I thought the same. Now you see why he got Tina Knowles. That man was cold back then and now. He was already platinum back in the 80’s. First million with a wife in 84. I’m looking for a boss woman like that I can get money with!
Not that uncommon.
Don't believe all the rappers they get paid to divide and spread bs about the man holding black ppl down.. the only people holding back black people are themselves
You got who?
LMAO🤣
I was an intern with IBM in the 80s. Yes there were black men and women executives in the 80s. There aren’t enough but there is a solid Black middle class. Stop believing all the bull shit stereotypes that every black Person grows up in projects pumped up on social media, rappers and mainstream media. These are people promoted by white media.
His 200k salary in 1980 is like $600k now. That's important to note regarding his ability to build wealth
2019: 200K A Year Is Nice
Facts
ridiculous income.
Hahahahahahahhahaah.
B it on a serious note this man has really beeen a high value male since day and built generational wealth for his family.
The secret to success is surround yourself with bright individuals,do your research and put in the work. There’s no easy way 💯
Wait so Beyonce grew up rich then . 200k in 1980 is 640k today he was making that type of money in salary .
EST94 yep...
200K a year is not rich....thats middle class! Rich is when you make at least 5 million a year! a person making 200-500K a year can make one bad move and be broke in under a year! For instance a bad investment, business fail, or get fired! A person with 5-10 million has a nice cushion, they can put away 3-4 million in a savings account and still live like a rich person with the rest of their money...make bad moves but still live nicely! Thats rich!
Supreme5panel Do you make 200k or more a year??
200K at that time was big money
That's why many people looked at Beyonce and DC crossways for that Soldier video when most in H-Town knew they grew up "across the tracks" on the good side of town lol
Supreme5panel Great... What book is that in? The info you're providing us? Or is that just YOUR OPINION?🙄
Set his children up beautifully. Tina included. Well rounded, cultured & self aware pro black women they raised. Much respect sir!
Elexis Arnold He used Destiny Child to make his money. Yes, he discovered Destiny Child. He quiet his job to manage the group....He made money off of them for years until God revealed to the world who he really was. Cheating the other 2 original members of Destiny's Child. He had to pay them a big settlement. Then here comes 2 babies that he had outside his marriage. Beyone had to fire him because the two women he got pregnant would have had rights to Beyonce money....He is a black Donald Trump.
@@BodyByKymXclusive that's not true ..the man made his first million forming a hair salon with Mrs. Tina Knowles in the 1980s. Quit all that BS if he isn't a respectable man/father, then 90% of black mothers aren't either. Feminism is a trip
Lol “Pro black women” wtf are you talking about. Smh
@@Labfreq right... He was getting money long before Destiny Child had a record deal... that’s how he was able to get them everything they needed early on ... studio time, demos, etc
This is a good one. I guess no one else feels the same way 🤷🏾♂️
Moral bankruptcy also effects black men part 2?
They dropping gems
Stay focused..a lot of time when u think no-one is looking they are and someone is learning from your positivity..maybe not the masses but someone who will guide someone else in the right direction..but it all started with you 👍
Regardless how you feel about this man. Hate him or Love him...He drops that Wisdom.
It's not how much you save.. it's how much you invest.
Musa I of Mali Nope. Both of them are equally important.
Karine, I don't think you understand the essence of this statement.
Musa I of Mali I understand it clear. I don't think you understand deeply the power of saving vs investing.
Exactly
Lol Rikane understands
He looks like the type that counts everything all the way down to how much ice cubes you get for a drink.
LarryBonson 😂
LarryBonson you sound like you ain't got shit. Go find a purpose my g
everybody hates chris type shit haha
That's what you got to do though!!!
Lol
Beyonce got her business skills from him and not Jay z
Vlads feelings were hurt when Mathew said he didn't invest in stock.
M T 🖕🖕🖕
😂😂😂😂 the battle continues
Richy Gamble u
He is not revealing everything
Bring him back as a regular dope interview
already in the works
He’s a High value man period
If you can’t pay cash you can’t afford the shit. - Willie D
Owning your house wil set your kids and grandkids up a lil better....it gives them a 1up in life not having 2 worry about housing
Wilbert Deloatch Please Explain?
No. Owning a trust which owns a house will do that.
Creflowsdolla Bill Explain how this work?
@@djflash7503 look up irrevocable trusts.
Creflowsdolla Bill I want to hear it from you. Because a house is not a investment. Duplex’s, 4 units and up are . See you are collecting money from rentals. Not giving your pay check over to a mortgage every month for 30 years and praying you don’t loose your job during paying double for that home.A Home is a liability which your coming out of the pocket every month to feed it. Example a dog is a liability.
its crazy to see this man come on here droppin jewels yall fathers NEVER did & all yu took from the interview was his "nose?".... cmon people. i bet if yu had to pay to comment, yu wudve paid attention to what is actually being said rather than to get on yur keyboard and start trolling.
Dude is very sharp...nose or not he on T
This is the brain behind Beyoncé... he had the plan.... Beyoncé is just a manifestation of his idea... he is the root he is the source.... @marbobeatz
I thought this was a very insightful interview. I never really took the time to learn about Mr. Knowles but he's seemingly a very intelligent man. I do agree with his views shared on homeownership. Especially If you have a small family or if you are an advid career traveler, it just doesn't make sense to be burdened with the homeownership piece but I do see the advantages of having rental properties, especially for your retirement years.This was a good conversation.
In order to RENT to make a profit you need to OWN.
Sylvia Payne it depends. If you rent a house, but own properties like houses to sell or flip I agree. But if you put a down payment on a house, just so u can live in it for 20 or 40 years, it becomes a liability
I stated to make a profit, even if its renting it out and not planning on selling the home to keep the home in your family etc.
Duh duh... yeah a lot of dumb asses out here... but he didn't mean his residential property...
@Apollo Mayaimi let me be the caretaker of a property with mortgage. We all need a place to live and I don't want to EVER be without a home again
The idea is own where you rent and rent where you live thats Grant Cardone philosophy as well.
Love Mr knowles knowledges or ideas on business he’s a smart man. A true standard for a black man looking for a role model that looks like him or for any man with ambition.
Matthew is a multimillionaire. You can rent a mansion in Houston for $4k a month. His situation is way different from the average person who would be screwed and homeless by a rent increase. The rich can do whatever they want and throw money away from renting. The middle class and poor benefit greatly from home ownership because it stabilizes their housing costs going forward
Agree, and most of us are waged or salaried. If you have a salary or two salaries, you need a write off. If you rent without a tax write off, you will owe Uncle Sam many thousands of dollars because of your tax bracket. Write offs lower your bracket and thus, you pay less in taxes.
Primary residence can earn money if it’s a multi family . A single residence isn’t a investment it’s literally just a way to hold money over time
EST94 a home is still an asset if you own it
Thomas Palermo yeah but you need growth. Owning a duplex is better or renting out your basement is smart.
The kind of man that makes everyone successful, just by being around him.
"I'd rather be rich" - Mathew Knowles 2019
👏🏽👏🏽Great stuff. I love how his thought process is based primarily on logic and not emotion
I think diversifying your income is more important than mortgages and renting. Both have their advantages and disadvantages. Having access to money to do what you want and need is ultimate goal. Living within and below means is what we should do.
Rental Property is an asset and owning a home is a liability
Nigel Lai it’s definitely an asset if it’s paid for. 👌🏾
Pabulum Entertainment Smart Man
Being a liability isn't necessarily bad in this case. If the house does not cost much to maintain, and you have the money, it is a potential asset because you can always use it to make more money by renting it out or get a loan to make more money. This is assuming the house is paid off!
Even if the house isn't paid off, as long as you have a plan, know how to get money, that house can help you build wealth in the future. This is why whites have more wealth then blacks, they were given federal housing loans while blacks weren't allowed. These houses were then used to get loans to start businesses or help people go to college.
It's all about your plans. If you buy a house just to buy it, that is dumb, but if you buy a house with plans on using it to better yourself years down the line, it isn't dumb to buy a house. People forget someone is owning those homes you are renting out! If you have a house you cn always make money because someone will ALWAYS need a place to stay.
Lefthandmusic24 Bullshit.When you own the home you can rent it out and make money.When you rent you are throwing money down a bottomless pit.Now as far as cars go,yes its better to rent,or lease than to buy.Cars depreciate quickly.
Its not an asset because it doesn't make you money, a liability is something that only takes money away from you and never makes money. It cost you money even after its paid for (no mortgage) because of property taxes, maintenance and insurance. Most you can do is get a loan on the equity or sell it. If you get a loan its not a come up, you have to pay it back. You can use that loan to purchase income producing assets, but that still doesn't make your house income producing. If you sell it. Its still not an asset because you'll get a pile of cash, but then you won't own it anymore.
VLAD still doesn't understand that Matt is saying that he owns houses and rents them out though. Matt still brought the house, he still has to pay the taxes and pay the mortgage. His name is on the title. He just does it from the revenue he gets from the rents. Then pockets the rest of the rental profits. Shelter is one of the best investments because even if the real estate market is down, you can still rent it out. And have PASSIVE income. He still is an owner and is making money of the rents.
The place he lays his headed is rented. Cool. But he still is a property owner.........vlad seems to think real estate is just a bad investment overall in any capacity. And he is totally wrong. I remember he literally argued with Jay Morrison about this.
Yeah I was thinking the SAME thing!! He argued Jay and wanted him to agree that home buying is wrong because he got burned during the recession lol 🤣😂💯💯 Jay kept implying rental properties and not your personal residence and VLAD still was trying to prove himself right lol. Now I see he agrees with Jay, but still w ont let this stocks is better than real estate shit go lol. Sad 💯
Those are still two different situations. Most stars own multiple properties and they don't rent them out, those are liabilities. He said he uses the income on his properties to pay for the space he rents. Most people buying homes are using their salary whole or in part to pay for the space they occupy.
I have friends whose parents gave them $20,000 as a wedding gift to use as a down payment on their first home. They bought a house for around 40 grand (this was the early 90’s) and paid it off within 2 years. A few years ago they sold the home for around 90 grand and used a majority of the money to purchase a $200,000 home. Within a year the wife got sick, lost her job and the house went into foreclosure. They literally lost everything including that $90,000 that they used as a down payment.They are now renting an apartment.
Vlad We need more videos like this! I’ve literally been saying this for years, however everyone feels like they need to own in order to seem as if it’s a smart business/life choice.
Very misleading title, owning vs. renting and any financial advice depends on your individual income, risk tolerance and goals. Anyone giving you blanket advice without knowing your circumstances is setting you up for failure. Financial literacy is a process not a quick fix.
THIS!!!!!! i've told folks it depends on what your path in life is. if you plan on having a family and want to be somewhere long term then renting wouldn't make any sense. if you're single and don't plan on having children it wouldn't make sense to buy a house.
Don't be fooled folks......Rich people are ok with leasing and renting everything. We ain't rich! They have money to blow, we don't! Buy you something small and comfortable that you can afford.
....and pay it off as quickly as you can so your not paying for your property 3 times...
@@youngw1ze that's never going to happen if the rate is 4.25% on a 50k or less loan.
🙌🏾🙌🏾🙌🏾I’m so happy they discuss the renting vs owning. I never understood why people would want to live in ONE house for the rest of their lives which they have to pay taxes and keep up with the maintenance.
Sarah2ill I bought a condo when I turned 50. I'm happy. I own my own business.
Sarah2ill I disagree about owning a home. If you know what your doing and you’re responsible you can take the equity and use the capital to invest in other things. Now, if you’re just going to sit on the house and do anything with, I can see why you’d rent. However, if you don’t have a ton of money laying around, it is a good way to increase your family’s wealth. It’s not a quick overnight thing but you can certainly build.
AnotherSKYWALKR A buying a home is an investment. The value of a home increases in the long term much like stocks. A home can also be used for several tax right offs. In my opinion, it’s always better to pay for something that appreciates in value than to pay for something that does not. You must live somewhere. I would rather have the option of living in, or selling, or renting out my investment.
Dope interview... love the different plains of thought. Wise people shut up and listen and fools stay heedless. These are gems Vlad. I appreciate these videos. ✌🏾
Vlad thanks for this interview. Very informative and interesting. I applaud you for this and Mr.Knowles .
Sharp dude... knowledge is power
Owning vs. Renting will always depend on the variable of what you would rent or buy. The better variable of the property will determine if u rent it or buy it. Neither is 100% full proof. Maybe in vlad and Mathews case, the variables weighed in their favor to rent.
Exactly, owning is cool if you want to rent out and you make a profit.. renting a place is better if u decide the potential down payment could be used investing
Home ownership is good when the home makes you money every month simple as that
Continue to talk finances Vlad even more with succesful business man like him. Didn’t know before of Mr. Knowles. Thank you
Owning and renting depends on where your at
quincy D absolutely
I totally agree and unfortunately I never looked at it like that
quincy D exactly
exactly . everyone is at various stages in life , so yeah , I agree.
It's silly to own in a metropolitan area but makes more sense to own in a rural area Or in the south where the population isn't as high..
quincy D correct. A guy I worked with just retired and told me the main reason he was able to retire early was due to buying a property when he was young for 125k and 15 years later it was worth 500K.
You need to own property at some point depending on where you are financially. Being a homeowner gives you an asset that you can leverage especially to grow a business. You will never have a HELOC renting property if you need to utilize this option at some point. Also in many cases you can pay a mortgage that is more affordable than renting and at the same time you are making an investment in something you're obligated to have anyway, (shelter)
this is a brilliant man. Need more from him.
I've ALWAYS been against owning a home and having a mortgage... Even when I was young and didn't know exactly why I was against it, I was against it. 30 years is a mighty long time to sit in the same damn place..
Jay z probably soaked up a lot of game from this guy
I agree and disagree with certain points.
- Not wanting to be tied down owning a home is silly in 2019, but valid in the 80s, 90s. You can work in another country nowadays from a smart phone. A house doesn't tie you down. Just move and rent it out. Pre internet, you were tied down somewhat.
Don't buy, renting is better is too broad of a statement. In certain parts of the country, Midwest, South, it can be cheaper to own. All of my tenants pay a hell of a lot more than what I pay to own. I would agree with renting a luxury spot in LA, Manhattan, Miami, etc vs owning. I would likely rent.
Unfortunately there is the crowd that likes to show wealth with a negative net worth. I live in a modest 2000 sqft house in an average neighborhood. But i own and rent out 13 other houses. No fancy cars, clothes, watches, jewelry, etc. But I don't hate on those who do that. What you eat don't make me sh*t.
School is keeping people poor selling degrees and dreams with no financial education.
Thanks vlad. And mr knowles. Greatly appreciated
I lived in SW Houston back in 2002, and I remember this chick telling me that the Knowles (who lived in 3rd Ward of Houston) were rich WAY before Beyonce and Solange were singing.
Beyoncé was rich without the music damn she truly talented she could have been lazy.
Young Not Dumb TV this life is alot better
Young Not Dumb TV sadly she is ...
In the " love life area "
She dose not have real love ...
She dose not wake up next to a man thats truly and fully in love with her ..
JOSIAH BROWN facts
JOSIAH BROWN and you know this because?
facts she could of been complacent
He is right. He is not saying only rent and never buy. He is saying rent your space and buy investment property. Your kids would much rather inherit rental property/passive income rather than your old outdated home with property taxes to boot.
THIS IS A GREAT episode!!! I guess people don't want learn about the TRUTH about financing!
nope - they'd rather listen to what their parents told them without looking up the actual facts of it
djvlad my saying is "don't take advice from broke people" doesn't matter who the person is, your mom, dad, cousin or friend...if their broke they have no sound financial advice.
With how you rent is going up especially in apartments why not own a house and rent it out. That's better than living in apartment where rents always going up and you will never own it.
Damn This Guy Had It All Before DC!
It’s weird how rich ppl will tell you to rent and other rich ppl will tell you to buy
Depends on your situation
I’m surprised vlad hasn’t uploaded any Ralo “flashback” videos
I’m sure lots of folks disagree, yet he’s on point. Never understood investing in a fickle and unstable stock market. Also, I own farmland, which I rent out as community garden, I own a small vacation home which I rent out, plus I rent an apartment. I get all the tax benefits from being a homeowner, capital gains, should I sell, income from the properties and the only maintenance expense and taxes is for the properties I own which is taken of by the renter’s income. I have no home owner expenses as a renter, so my income from the properties, plus my personal income goes toward buying more properties. Any property I own can be passed to my children, free and clear, plus my knowledge of real estate investing which is more important.
4:30 to 4:40 he said it straight
Gotta respect that
This style of renting would be for individuals who are considered high class and travel often. So often that they are never home. The Authentic answer would be to buy a Quad-Plex or smaller live in one section and rent the other section(s) out. The mortgage to rent ratio would take care of your overall mortgage and you could have the property paid off and actually yours in about 15 years depending upon how aggressive you are with wanting to pay it off.
I love listening to this particular interview. Good stuff!
Y'all have to LISTEN & peep what he said "I have RENTAL PROPERTIES, I rent to people...take that money & pay the note meaning BANK NOTE"
PEEP GAME Y'ALL!!!
AMAZING FANTASY SPORTS GAMING nigga we know
AMAZING FANTASY SPORTS GAMING exactly
Amazing statement...make your investment work and pay your dues ✔
I like his interviews. Straight knowledge bombs
His nose looks like it comes with the glasses
Osita Nwaedozie yes sir
Aloha! Wonderful Observation my Nigerian buddy.
Osita Nwaedozie 😂😂😂😂😂
Osita Nwaedozie 😂😂
Osita Nwaedozie 💀💀💀💀😂😂😂
Awesome and insightful , Mr.Knowles I Thank you Sir
Thanks Vlad and Dr Knowles great video
YALL MORE FOCUSED ON HIS NOSE AND IM FOCUSED ON THE JEWELS THIS MAN DROPPING. THANKS VLAD. U BE PUTTING OUT SOME GOOD INFO AND BEST BELIEVE I'M TAKING NOTES. CAUSE SOON IMA BE WEALTHY, HEALTHY AND ENJOYING MY LIFE AND OUT OF THIS 9 TO 5 SLAVERY BULLSHIT!!
Dude said 2k square feet is small. That’s when you know you got bread.
Lots of respect for this gentleman. Businessman over bullshit any day. This is what made Beyoncé what it is not talent because she’s talented but businessman behind her talent.
This is want Vlad, informative information. Good work!! I get more excited talking about finances than something ratchet.
It's interesting how videos with rappers get a million views but interviews with guys like him, jay Morrison and important people get no views
All that and his daughters Beyoncé and his son-in-law is Jay Z.....damn what a great life
This is Beyoncé’s dad? I never heard of this dude
Your biological Father yep
Romelo Sparks exactly. Beyonce is one if the biggest puppets in this "Jedi mind trick"...
smoothcollected facts
Romelo Sparks *Son-in-law*
Don't sleep this is a very smart man!
Beyoncé and Solange never was without🙌🏽
We needed this interview...Taught me something
Vlad still salty Jay Morrison destroyed him in this debate.
YES!!! lmaoo... bodied that man
Haha & even Mr. Knowles even said He is into real estate. Which Glad thinks is a waste of time & money. Glad u think u know black folk bcuz u suck the blood from us. Vlad the impaler. U literally live up to ur name. Then what's really crazy u belittle Us. Damn shame man. U cant hide behind the camera forever. What are u gonna do when the people wake & see what u are really doing?✔
More interviews less interrogation Mr 👮🏻
Listen up ..
Bay big cause of him ..
This is the brains and the real super star
Lmao
Romelo Sparks 😆
I heard *** sayin' they made Hov
Made Hov say, "Okay, so make another Hov
😩😂💀 a small ass 2K sq ft - some gems 💎 was dropped in this interview tho
Bruh at 3:47am, this is the most practical and enriched information I've heard on Vlad or even TH-cam probably ever. Cuz he gives the vibe like he's being brutally honest with nothing to hide and in laymen's terms. Whoa Vlad, watch how much you critique the black struggle and Goff about it
A home is not an asset it sucks money from you every month and the real estate market could crash any time, you'll be surprised how many rich people rent.
Got to give Mr. Knowles credit ..... he is brutally honest & always intelligent in his conversation.
There comes a point where you want to not worry or bother about having to pay rent at all and just pay the gas an electric.
Who would want to rent anyways especially if you get to your pension years, what kind of security is that knowing that your landlord could decide to kick you out.
Fuck that shit lol. And atleast if shit hits the fan financially you can atleast sell your home (if you own it out right) and live of that until you steady again.
Not exactly... You point is well taken... But he was talking about people whose lives keep them on the road, i.e.: Singers, Rappers, Entertainers, Professional Athletes, etc. Those idiots that fell the Necessity to buy 10,15, 20 Square feet homes, BUT, Only use One thousand sq. ft. of said property... Trust me, some of this totally Only relates to Rich People Problems....
Legend in these streets
I disagree with the premise to not to own where you lived at . If you are a millionaire you have that flexibility no to own . Because you rich. Poor folks better own or be pushed out . Gentrification
Maintenance is a big issue with renting and you never really own the property because of property taxes. There are so many find to renting. AA's are taught that they need to buy like you say. This was a good interview because I learned something. I was about to buy a house and I don't want the responsibility of upkeep.
Makes no sense for a person with working class money to rent vs owning their primary residence....
This conversation is more nuanced; if you're a salaried employee, aspiring to purchase a home is probably a good thing, for the sole reason it's the only asset you will own that will appreciate over time.
If you're a business person it makes less sense- that down payment is better served by investing in your business- you get both cash flow and capital appreciation.
It really depends on a person's situation.
He bough property and rented it out and the went and rented someone elses property to live in ? Dont listen to these dudes man own property.
Dougs2fresh I understand your point,but he did own the property he was renting out for cash flow to pay his bills.Plus he was on the road a lot,it made him more flexible if ever wanted to change residency.No matter if you own or rent you’re always going to pay something.Peace
Dougs2fresh exactly he’s telling you h so rich that it doesn’t matter. He’s paying for convenience
Dougs2fresh 💯 They are misleading poor people. Rent goes up and landlords don’t always fix things. My mortgage is less than a lot people’s rent and it will not go up.
Good Karma but it’s also a ball and chaon. For instance i have a friend who recently bought a house and now that his family has grown he’s needs to find a more appropriate house. Problem is he’s having massive issues cutting the massive burden which is his current home.
You are dumb you will never make money if you think like this
knowledge is power and this was a powerful message
Closing fees are not 20%...
Musa I of Mali if they are you got screwed
Musa I of Mali What book does that come from? Or is that YOUR opinion
It comes from the book of me investing in real estate making money off of it and closing a deal less than month ago on a piece of real estate.
Google this: "what is included in closing costs for the buyer" .."Typically, home buyers will pay between about 2 to 5 percent of the purchase price of their home in closing fees...."
Musa I of Mali Oh wow.... I will. And thank you for that information. I was inquiring because I'm in the middle of selling my house right now. Don't want to get screwed thank you again
You're selling so you will have to pay the realtors fees... those fees are 6% more or less.
I appreciate that Mr. Knowles mentioned that stocks aren’t for everyone. I like the perspective of the investment style via property vs. stocks.
Rent goes up every year you all...
So isnt that like a form of interest?
The same as the pursuit of OWNING a home that comes with interest
Dont listen to rich people... they dont have the best intentions to you & yours
Be smart
Have common sense
Work hard
Live within your means
You'll be just fine....
Vlad you sending the WRONG message and im done with You
I could listen to him All Day
You don't build equity buy renting. You also don't get certain tax benefits by renting. Also, keep in mind that Matthew Knowles DOES own homes, he just rents them out to others. It's a trick of the enemy to get you to think that you shouldn't own real estate. It's the key to generational wealth, especially in the African American community. We need to start leaving our children something besides a bill from the funeral home, we need to leave them a head start.
I guess he's saying don't take a 30 year mortgage?
Highly astute business mind. Thank you for the insight.
I’m so sick of the rental vs ownership argument. I own my property and invest in real estate. I wouldn’t have been able to invest in real estate without owning my primary residence.
I studyed and statred 2 successful businesses and I talk that problack shit heavy and at the same time still put that energy into my products which kept the money coming in ..
Stop the madness you’re talking two levels of renting and ownership: Rich people and Average People🤷🏽♀️
Any average person spending over $3,000 to rent makes no sense. You can pay a mortgage of $1000 -$1700 and build equity no matter if you’re paying interest. You can also payoff home in 15 yrs by making 3 extra payments a year. When it’s your time to move and market down, rent out your home.
The majority of people aren’t living in million dollar properties where it may make more sense to rent large square foot properties, throwing away money, for the need of flexibility.
I love these videos on the topic of financial literacy, dope