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!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 55 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?
Personally, I can connect to that. When I began working with Annette Marie Holt a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds. that’s what works for my spouse and I. We've made over 30% capital growth minus dividends.
Yeah your message is by black rock because they make money when you make their banks create money out of thin air for your mortgage. And when it steals from everyone through inflation that's also them profiting.
It's also brought to you by math. Tons of people buy a house they can barely afford and end up spending more in interest, maintenance, insurance, new roof, HOA fees, etc compared to if they just stayed in an apartment. Not to mention the opportunity cost of not using that money for stocks which return far more than home equity.
Owned a home outright paid for in Pensacola Florida, got behind on my taxes due to health and the city took it outright and sold it at the courthouse square, so miss a tax payment and you’ll see who owns your house l.
Buying just 1 home and living in it makes it a liability, not an investment that so many people think it is. If it's not bringing in cash flow, it's a liability.
@@donilexington4600 So rent isn’t a liability? My father has been in the same apartment for over 40 years…when he leaves he gets nothing. If he had a house it would’ve been paid off and if he sold it he’d get at least 500k in ny.
@@tamikaphillipgrantspaparaz7730 500k? In the housing market now, sure. But wait for the big crash that's about to happen. Definitely wont be 500k after that. You'll be lucky it will be worth 200k. Housing prices aren't a good wager to Make money. An investment is supposed to bring in a cash flow, not a trickle. Profit is not garenteed when buying a house. Think of all the tens of thousands of dollars you have to put into the house just to maintain the value. You do not add value to your home when the plumber comes by to fix a leak. These are the reasons why a house is a liability. With renting I can go anywhere in the world to make money. I'm not centralized to one place, creating more cash flow everywhere I go. I can make a lot more renting because I don't have to focus on maintaining the property. At the end of the day if you own a house, it's a liability. There's no way around that.
Yeah but you get $0 return from renting where as reality is an investment with the average property increases $5000 a yr in value when you do decide to sale its like you were living there for free and I can sale my house before your lease is up hahahah fool.
@@AlaskanApple well spoken? I wouldn’t let this man sell me a f’ing number two pencil. But then again crypto exist and millions got tricked into that stupidity.
the first step to acquire wealth is figuring-out your goals with heIp of a financiaI pIanner, and foIIowing through with lnteIIigent ideas; you will acquire wealth in no time and also enjoy the decision of managing your money.
The benefits of owning a home, - Your mortgage payment stays the same. - You’re not subject to rent increase, like now. - Property value increases over time. - After 2 years you can refinance and get a lower monthly payment. - After it’s paid off, it’s yours and no more rent 😎 - You can leverage the equity for another property. - You can sale it and make a profit. - You can rent it out to this guy 😂
I still do not see the benefit of owing. The house is never yours because you have to pay property taxes, insurance, maintenance, in some areas HOA fees. If you can’t pay the taxes-the city will take the home anyways. 🤷🏾♂️
@@msbeautyboss3784 why wouldn’t someone be able to pay their property taxes if they’re home is paid off? If they can’t, they have other problems. Even if property taxes were $4K a year, that’s less than $400.00 a month with no mortgage . If you have a mortgage paying taxes and insurance is built into your monthly payment via escrow .
I bought my home for 320k in 2012 I sold that same home for 1.2 million in 2021 Even with all the maintenance and taxes My home practically paid me each month for the last 10 years. If I would’ve taken advice from a guy like this 10 years ago I wouldn’t be where I’m at today. All advice isn’t good advice. Do your own research…
@@brandonleesanders you're assuming this is just a normal up down cycle. You don't know that. Took 5o years for ppl in stock market to recover after great depression. And sometimes ppl sell. Job change. Marriage/divorce/retirement. Just stating If u sold at the peak of the bubble it means someone else bought. I'm not fear selling my house. I bought in 2017 and I have a 2% rate. I'm in a good position, regardless of what happens.
@@tammyturowski6703 - Your information is completely inaccurate. The Great Depression started in 1929 and lasted till 1936. After the Second World War the USA was absolutely booming in the late 40’s and early 50’s. If we’re doing simple math… That’s 20 years which is a normal cycle. As it pertains to economic cycles all of this is public information. These economic cycles have been roughly consistent for the last 200+ years. I’d also like to add… if a person is buying a home for 1.2 million dollars chances are it’s not their last 1.2 million dollars in their bank account. All of this boils down to making smart decisions with your money and not over extending yourself. If you never build wealth then you’ll never have wealth. You’ll just end up on TH-cam taking advice from a guy that has more money than you… Sometimes it’s better to do less talking and more listening then ultimately formulating your own Analysis based on the information that’s been presented to you. The people that lost everything in the Great Depression were the ones that invested every dime they had without diversifying. All of my money is not tied up into my home. Neither should yours or the person that purchased my home. I’ll leave it here because your theory is just that… “Theory”. My experience comes from just that… “Experience”. I can only educate. It’s not my job to convert a naysayer into a believer. If you believe that it’s not possible. Then it won’t be possible for you. Good day to you.
What a lie. No mortgage stays the same year over year unless you’ve only Owned for less than that. What expenses does a renter have besides the rent itself ? If you rent and pay for repairs or maintenance you’re a fool.
Exactly! My rent is $1.2K, I make $95K per year, total monthly expenses $1.5K, and I invest $25K yearly into my ETFs and 401K. I decided to live life way below my means so I can be rich in real life not fake Debt Rich!
@@jordanpostle8641 the rat race is what most are stuck in. Running that hamster wheel to make end meet. Can’t attain financial freedom without assets/passive income.
People will have to accept reality that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts, I look towards the stock market to fuel my FIRE goal at this point.
after studying the trajectory of great assets like real estate, dividend paying stocks and gold, my conclusion is to buy and invest in what you can afford today! working with a financial planner can certainly help
@maria_casey real estate prices exploded, interest rates exploded, but my wage the same, i'm screwed.. who is the professional guiding you if you dont mind me asking please?
For you. My rent hasn't gone up in 6 years. And I have economic freedom, able to invest my money with great cash flow. Buying a home is a heavy debt to take on for 30 years.
@@julzcez6669 The appreciation is usually just as good or better than another type of investment. Stocks go up, they go down, and maybe go up. RE goes up, it goes down, the general trajectory is up, up, up, down, up, up, up and up...
You right but I also agree with him, as a loner and someone that's not interested in marriage or having kids ..I like renting...if you getting 💵 unless you planning on having generations and leaving them you earthly possession no need to stress yourself with properties and all the hassles it brings.
Eventually everyone will be renting. It’s been heading that direction for a while. You know there’re more empty houses in America than homeless people?
I would rather continue living in my truck than rent and make a landlord rich. Can't wait for the housing market (and economy as a whole) to crash again so that I can finally buy a house. This time I'm ready and have enough money set aside to buy a house outright. I will most likely buy it from a desperate landlord that is in need for some quick cash.
Where in this video did he say that? You can't answer that question because he did not say that and he did not imply that. He very clearly stayed that for most young people the main "dream" is to be financially free and to not be tied down with responsibilities associated with one geographic location. That includes not owning a house where you are not planning to live long term. You may want to practice your active listening skills.
@@thesig301 no. If that is the extremely superficial surface level point you took from it then you aren't listening. Refer to my previous comment and rewatch.
@@alrbredwall so why in the last 5 seconds did he say you’re paying someone else’s mortgage, home tax, and maintenance fees, how about you rewatch the video..
@@alrbredwall such a pointless argument tho, you’re basically agreeing with me. He’s saying you shouldn’t rent, and then he gives the reasons why you shouldn’t rent, which is effectively the same thing as what me and the original commentor said.
It's always best to take your advice about Marriage or relationship, Parenting, and Home Ownership from people whom are not married, don't have children and don't own a home. 👌🏽
Yea u don't need to be married to understand relationships, and u don't need to own a home to understand real estate... parenting? Simple, keep ur kids on a leash, your welcome 😂
@@YaBoyNigeMakinMoves Thinking u need to first own a home in order to know how real estate works is like saying you need a business degree in order to start a business lmaoo 😂 "Phuck them kids"
@@mroctober3583 With the exception of Fuck them Kids... I have kids, you may not, I would agree you may not need to own a home or have a business degree to understand. Adam often speaks in "definitive" language on these topics.
@Beat Mymeat Your handle cracks me up dude, they want the plebs to do much more than that ludicrous nonsense of which it sounds like you're aware. We've already seen many of the useless eaters "disposed" of but also too many loved ones in their first of many planned cullings. Continue to be strong and resist the slave mind. Have a wonderful day Brother!
Do you live in the woods? How about your property tax/insurance and/or condo fee??? Exempt from that??? Because last time I checked...that is also a monthly or, if you choose so, semi/annual payment.
@@dzordzdzordzinjo1840 that was dumb. Did you not read the social security part? He has those minimal monthly expenses covered. I have paid off my mortgage as well. It is glorious.
@@dzordzdzordzinjo1840 The majority of people with good jobs have some sort of pension. You don’t just retire and have 0 income. Regardless. You should purchase assets in your earlier years so you have some sort of a buffer later in life.
And watching your equity erode in the next 2 years. And we don’t know whether the FED will rescue the markets. So in fact, it may take a decade of rents to recover that equity destruction. Selling at the peak of a FOMO market is a much better option IMO. Just like 2006. Only to buy properties at 30-50 percent discount in the years following. Rents are overrated
@@bbustin1747 my house will be paid off in the next 10 years .. and it’s a multiple family with rent coming in. I’ll be living for free with income coming in monthly. If u rent forever, you just help pay the other persons mortage. And end of the day, I can sell and all that money goes to my bank account. It all depends on your situation. I wouldn’t do single family with a 6% interest rate .. be smart and invest , real estate will be here and needed forever
The American RE market along with the stock market has been financialized in the build up to 2008 totally imploding the RE myth has never fallen and was resumed by the FED in 2009 with further debt monetization and near zero interest rates… once the pandemic hit .. the FED was further tested on how they maintain those asset bubbles from imploding… they unleashed over 5T of liquidity to keep the markets stabile …. Results- historic Inflaeion and further building those asset bubbles. End result the 40 year financial engineering experiment of endless debt monetization and engineering by the FED has reached its apex. They cannot continue unless they wish to have hyperinflation and with that, will exhibit societal effects with unrest making 2020 look like small in context. The days of cheap money building fugazi assets are ending. There is not going to be a soft landing as much as the touted transient inflation. It’s a FED lie and govt manipulation pandering to keep stabile markets and appeasing investors. believe only in what they do not what they say.
Rent is going up every year while my mortgage is staying the same. But, as a landlord and real estate investor myself, I love renters. Less competition😊😊😊
Well my $2,500 rent is gonna have to keep going up for 7 years to finally catch up the $5,000 “fixed mortgage” and in 7 years, mortgage is gonna be 9,000 a month or $10,000.
And how’s your taxes and insurance and utilities and upkeep going come on man you can’t come here and say it’s all good when we all know that’s all gone up. A mortgage is just a rent payment your just paying the bank instead of a landlord but really your paying more each month with everything else I just mentioned
@@ryans413you're so much of a loser renter that you're clueless YOU the renter are PAYING all those fees AND MORE for the landlord's PROFIT. If being a landlord is to rent out for less than what you owed the bank and fees and fix problems for free, there wouldn't be landloards.
I can't plant a garden in my apartment. I can't paint the walls the color I want. I can't swap the fixtures to something nice. I can't refinish my own floors in my apartment. I have no guarantee I won't be asked to leave 2 hours, or 2 years from now. Owning a home has its own drawbacks, but it's sure as fuck better if you can comfortably afford the payment.
NOT ONLY THAT - and well said by the way, rent is now WAYYY more money than a mortgage payment. I live in FL and rent is out of control - 2.3k on a home that if you took out a mortgage on that home 1year ago would be 1.25k its that simple. This imbalance is now baked into the system so now more than ever renting is throwing your money away.
Facts. I bought what I could afford 18 years ago and people laugh at what I pay for fixed mortgage, after putting down quite a bit up front. Kept us out of trouble in 2008. Keeps us from being brokey's, now
But that's your life tho lol most ppl dnt give a damn about a garden or the color of the walls lol I've lived in 4 different apartments n ain't ever thought about none of that shit that's all extra stuff
For the average person they can’t afford to rent. It makes no sense. How can you say that you can afford to pay 2000$ a month in rent and you have to work for a living. I work for a living and I can’t imagine giving up a quarter million over ten years for housing. I don’t pay anything for housing.
This is why we don't just listen to anyone just because he sounds like he knows what he's talking about. I know that when I sell my house if ever, I'm going to get all my money back, and then some.
Right. And those who rented for 30 years will be in much worse position come retirement. Passing down real estate is one of the biggest tenants in generational wealth
@@mr.brooks9802 there are plenty of ways to build generational wealth without owning a home. Also what ppl aren’t told is when an economic crisis happens all them payments on those mortgages go down the drain when you lose your job and end up losing your house to foreclosure.
@@mr.brooks9802 A lot of these guys that preach renting want people to be reliant on a landlord. You're tied to the landlords rules and the landlord holds all of the power over you and you own nothing. Right now I can sell my house right now and pay off my morgage and still profit around $230k. Let's say I buy a $500k house and I put 20 percent for a down payment that's $100k, boom I have $130k in my pocket. Not even going through what unknown tax benefits I might have at my disposal. Rents don't have that benefit. I can also just simply stay in my house and pocket the $230k.
My understanding is renters insurance is for your own belongings in case they are stolen or destroyed. Home insurance is for the literal house if it falls apart from something like a flood, wind, fire, etc. Personal belongings are usually way less expensive than an actual home. Renters insurance is like $100-$200 a year and home insurance is a couple thousand.
If you, buy a house, you get freedom at your residence (much more than a renter), a lot of tax deductions, build equity and and you can buy more properties with that. After many years, in an upmarket, you can resell it for a profit. If you rent, then you are paying for the landlord's mortgage, insurance, taxes etc. etc.
Solution? Save up enough money to afford 50+% (I like 100% but that's me personally. 75% is good too) of the house of your dreams, then get a 20% down payment on it or whatever that way you have a BIG cushion for those rainy days. Budgeting is a must have skill folks
Good for you . This is what renters don’t understand . At some point you can pay off your house and just pay taxes and insurance and not worry about your rent being raised on you.
@@eliot5220 until your furnace breaks or a waterline burst or the city ups the taxes and utilities or the wind blows the shingles off your roof and now you got leaks destroying the inside of your home. It’s all good when nothing bad happens I’ve seen people lose everything to the upkeep side of things.
@@ryans413 that’s because they didn’t have money in the bank for repairs. I’ve replaced furnaces , roofs and plumbing systems. The key is to have reserves set aside for repairs.
@@eliot5220 unexpected expensive happen all the time you can save for it but you never really now how much the damages will be. I’ll give you an example my parents saved money for the upkeep side of things. A bad hail storm came and destroyed the roof and siding and my dads car and moms car parked outside the insurance covered the house but not the vehicles stating it was an act of weather and insurance on cars is not covered for that the insurance covers accidents on the roads not from storms. My mom needed her vehicle so my dad took the insurance money from the house and used it too get my mom a car because no body shop could fix hail damage it’s a right off. So my parents had to dig into there saving to fix the house. No choice roof had too be done. So what I’m saying is you can be prepared but crazy things still happen
@@randomized559that's what these loser pro renters don't understand, RETIREMENT! After the mortgage is paid off, you only pay taxes and insurance which is probably 400 a month as opposed to their loser ways, maybe 4000 a month by the time 30 years is up. They really just use "maintenance" as a "pro". Funny, i used to live in an apartment. Maintenance fees are included in the monthly rent. If anything is damaged, that's additional fees. No landlord or management is gonna rent to you for less than what the owed or fix your problems FOR FREE. That doesn't exist. They fear the responsibility of fixing their own problems rather than letting the landlord deal with it. Ohhh they'll deal with it financially but not physically.
I am 1 year away from paying off my mortgage. Retirement is 20 years away, but, I would never be able to retire paying rent. Think long-term….not short-term. Yes, it is tough early, but buy smart, and grind it out….until it get easier as you increase your earnings.
So let me get this straight... the same channel that doesn't believe in the efficacy of minimum wage because arbitrarily raising wages simply gets passed onto consumers via higher costs, claim that renting is better because you don't have to pay certain things DIRECTLY. How exactly do you think landlords make money? They have to raise rent high enough to still make acceptable profit AFTER all those costs he just listed off. Benefits of renting are lower commitment and less to think about, i.e. CONVENIENCE. You will always pay more for convenience.
Correct me if I’m wrong but isn’t that what he was getting at in the beginning? (being able to move around/up and leave whenever) it make for some in their younger years. Although I will say he could be invested in real estate and this is why he is championing for renting rather than buying.
He’s questioning a paradigm. “Go to college.” “Buy a house.” “Renting is throwing money out the window.” As often as these things have worked out for people, they ought to be questioned. Everyone’s situation is different and it’s best to map out one’s values, current assets:liabilities, and then constructing a decision tree. It isn’t wise to assume the best route for yourself is to go to college, get married, and buy house. It might be or it might not.
I’d rather take my chances and live in my own home than throw myself at the mercy of living in someone else’s home. Unless you’re kidding yourself, owning your own home is always the preferred route most people will take. It’s harder to get it, but if you’re lucky enough to obtain it, it’s much easier and often cheaper than paying rent.
People forget, paying rent is FOREVER. If your landlord keeps you for 70 years, you're literally their cash flow. You literally paid off their home and STILL paid them market value monthly after that. Forever renters are not smart.
Most people think there only lifetime goal is owning a house , married , kids. It’s really simple math, add up mortgage interest, HOA , property tax, and house insurance. That is all money that is being thrown away , equal to rent money. The only way owning a house makes sense financially is if the house appreciates a decent amount and there are no natural disasters which damage your house
@@Ejr82u True, but at least with a property you also have an asset you can lean against, sell, rent out. With an apt you get none of that. Honestly owning a home is harder and more expensive in the short term, but eventually you see some profit or break even on it.
Being a landlord isn't easy. People don't pay rent or they are late. Things break down. Plumbing, roofs, heating, windows crack. Domestic violence, teenagers & vandalism. If you are unlucky crime and criminals. Robberies etc...
There are many benefits to renting. What if you change your job and need to move to another location? What if the location you live in currently isnt expected to appreciate in value? Or you do well in your job and just want to upsize
@Delicious Deviant In my market it’s much cheaper per month to rent than to buy. I’d rather put those savings into out of state cash flowing rentals than sinking it into a home.
The uncertainty of rent costs going up astronomically, not knowing if your lease will be renewed and paying your landlords bills while not actually purchasing anything but lost time with your money is a horrible way to live. We almost had to change school districts because our lease wasn't renewed with 30 days notice after 4 years. Panic mode and luck got us to a house purchase in our price range and kids school district in a very fast growing farm area. Homes are double what we paid after only 18 months if you can win the bidding wars. The population boom after covid is insane in my area. There's nowhere to rent for less than 1800/mo, our mortgage is currently a lot less than that.
I had a mortgage once, yes it did suck… but after paying that off, it’s been so long since I’ve had a payment I sometimes forget people are out there dealing with that.
You should ALWAYS have a place to call your own. Even if it is a small shack somewhere in the middle of nowhere. If you have the kind of job that requires to travel that much, you can definitely afford to buy a nice house somewhere.
Yeah but when you rent they can kick you out whenever they want, they can raise your rent whenever they want, they can cheat and exploit you whenever they want and it’s all legal. When you own a home you pay yourself.
Save your money, pay down your debt and set a goal of buying a house. If you can, get a multi family property so the renter pays your mortgage. The toughest part of buying a house is the beginning stages. Ppl get second jobs, drive gig app jobs, cut back expenses in order to save enough $ to buy a house. Why? Because it’s better then renting and is worth it. For me, I moved from a pretty well off area to a not so good one to save on rent. When I signed the lease I knew it was the last time I would rent again. I spent those 12 months laser focused. It was worth it. Buying a house is better then having a LL.
This is why I am just going to buy a nice mobile home. I don't need a 30 year mortgage and I also still own something. Good balance between apartment and home.
@@unvaccinatedmgtowfitnessmy brother just bought a rental property. 20% down and his mortgage(taxes and fees included) is 2000. He rents it out for 2600. That means he profits 600 a month. That's profits for him and in case of maintenance, he has extra cash from the renter to cover the costs. If not, he can charge the renters more after. You understand the landlord business yet?
@@hangguy209ok but he paid 20% down, that’s probably almost 100,000 that he had to pay. If my calculations are right, it will take him like 8 years to get the money he put in down payment back at $600 a month without counting all the maintanance expenses etc. 🤔 Am I calculating something wrong?
I rent everything. My house, my car, and even my vacuum cleaner......at the end of the month I don't have to fix anything but I own nothing. Why am I still broke ?
WOW I JUST SAID ALL OF THIS TO MY HUSBAND JUST LAST NIGHT WHEN DECIDING SHOULD WE RENT OR BUY OUR NEXT PLACE. I SAID, I WANT TO SIMPLY RENT BECAUSE OF THESE THREE REASONS PLUS I DONT WANNA BE HELD DOWN TO A 30 YEAR PAYMENT BECAUSE HELL MY MIND MAY WANNA LIVE IN ANOTHER STATE IN TWO YEARS IDK🤷. IM NOT GOING TO BE FORCED TO BUY JUST BECAUSE MY NEIGHBORS BOUGHT. I WANT IT SIMPLE, WITH NO EXTRA OBLIGATIONS. WE TOO OLD TO BE TRYING TO CUT GRASS AND FIX ISHHHH 🤣🤣🤣
baddd advice, when you're renting you;re paying someone else’s mortgage!!!! So after you rent for 15 years they own the home and you own nothing!!!!!!! And they got YOU to pay for their asset
Lmao but Dave Ramsey usually helps married people that have or want kids. This renting strategy I would say is more for single people and it makes sense.
@@peruvianheat2053 Don't listen to this guy, holy fucking shit. Even if you're single and a techie that can work from anywhere, renting is just paying someone else's mortgage, taxes, insurance, etc, PLUS whatever added cost to allow for landlord's profit. This is shit advice.
I think it depends. If u save up enough $, then buy a house, u can actually afford, then having a mortgage will be better in the long run than renting. I think the problem is that most middle class folks buy homes that r a bit over their true budget
Not to mention that in many western states and provinces, It’s not easy for landlords to kick tenants out or even raise the rent by much.. most municipalities are pro tenant. There are tenants that just stop paying but the utilities, taxes and mortgage bill will still come to the landlord and the tenants get a free ride.
@@danielfrancis1208as someone who's parents kept moving every 2 years, please go for the stability. I didn't really make friends for over a decade and also never learned how to get attached to someone because of this
There is a difference between buy to live in and buy to let. People are conflating the two. If you only have enough money to get 1 place to live in then it is better to rent. Don't have to put your life savings down and you have excess income to invest on increasing your earning power.
The expense when you buy a house is that in your mind: it's your house. Which means from now on *any* thing you spend so long as it's on your house. Becomes, *I'm raising the equity* of my house. Your house becomes the biggest black hole to throw money on.
We need to stop saying “buying a house” or “home ownership” when you have a mortgage. It’s a straight up lie. You aren’t buying it, you’re financing it, you don’t own it.
Only if you paid cash for it outright do you own it. And even then do you really own it if you have to pay taxes on it every year? The answer is no, try not paying your extorted yearly property tax and it won’t be your house.
My moms mortgage is 1400, my rent is 1300 am I saving money? Hell no I’m throwing my money in the trash and my mom is buying a house. Renting is only okay from 18-27
This clown is stating the American dream is to “keep it moving, stay flexible” 😂 Same type of dudes that’s 50 and still no family. Most people’s dreams are still to be a home owner. Be settled. Be in a stable and trusting relationship. Start a loving family. Raise and develop the next generation. And YES, economic freedom!
Can we talk maintenance and upkeep? Lawn mowers, paint, appliances, furnaces ain't free! Not to mention your time and energy. All are costs not figured into home ownership. Rented my whole life. Happily.
bro if you don't plan on moving in 5-10 years and ur rent payments are more expensive than a mortgage with 10% down, and assuming you have 10% down cash payment .... then buying is the best investment.. this guy is talking about if u have millions or something
its crazy how many people are here talking about renting vs buying.. while they compare apples with oranges.. its easy to claim its much better to buy than rent when you purchased pre-covid.. now houses are 2x the initial prices, inflation is doubling.. and the context is much different.. also, easy to roast the renters , but when you are alone with a kid, buying a 400k house is quite complexe.. life is not so black and white.. We can take from the video that renting can offer something as well, you just need to invest and not waste every extra penny..if you can’t find hapiness by having a roof over your head.. then you have to do major work on yourself
Back when real estate prices were low and interest rates were low buying made sense. Nowadays it does not make sense to buy. Most places you are going to buy a house for $500k+. For $500k you will need 20% down to avoid paying PMI. 20% down is a whopping $100k yikes. Then you will need to get a loan and make costly mortgage payments with interest. It doesn’t stop there, you then need to pay property tax every year and yes this goes up. You will also have to pay homeowners insurance and this has been skyrocketing and you pay every year and it also goes up. Also, don’t forget HOA fees these often go up each year as well. After that you need to pay for all the maintenance yourself. In 18 years of my small home, I have replaced AC twice, re plumbed entire house, replaced water heater twice, resodded twice, replaced roof, had exterior repainted, resurfaced driveway, re stuccoed exterior walls, and more. Fortunately I got in over 18 years ago when prices were low. I would never buy now. Once I sell my place I plan to rent and pretty much do what he said, keep overhead low, be flexible, live where I want to live, move around, try new cities, etc. You just have so many more options when you rent and you don’t get stuck or tied down because after your year lease is over you can move somewhere new.
Investing is the better way to go. I have had so many investors into the turnkey multifamily opportunity I have available, tell me that they invest to have passive income, before they buy their dream home.
Yeah but if you're the OWNER of the house you WANT to SELL IT, don't rent unless you're actually INTO that sort of thing because renting property and houses is MUCH different than just selling them straight out. A LOT more pain in the ass and a LOT more involved to get it to where it's successful residually. Hopefully everyone who flips houses isn't relying on that to prevail then from poverty later on, if this renting trend happens, there's gonna be a lot of people disappointed. Don't put a bandaid on it and move on, SAVE the industry and make it the way it was, so EVERYONE isn't losing out. Don't just ignore it give up and move on.
Both options are fucked 😂 either you paying the landlords mortgage 💸 or the bank staffs salaries with your interest, both fraught with dangers and stress ie evictions, rent rises, interest rate rises or inability to make loan payments
Nope nope nope I’ve moved every 1-2 years since I was 11 all I want is a stable permanent place that’s mine. I want to paint my walls, and buy furniture for a specific space, and build a library without having to worry about moving hundreds of books every year. I’m disabled and physically having to move is exhausting, and I don’t feel like myself for weeks if not longer. I just want roots I want to feel stable and safe. I’m 17 (18 in 2 months) so I’ve also seen rent skyrocket in my lifetime, it’s impossible to keep up with, quite literally rent has doubled in my area over the last decade as a kid people paying 5-8 hundred was very normal, and now I don’t know anyone who doesn’t pay over 1000, also, you are expected to pay renters insurance where I live which is pretty close in price to homeowners insurance. Maybe if this country (usa) had actual rent control and landlords couldn’t just not sign your lease for next year so that they can raise the rent for the next tenants renting might be a good option, but that’s not how it works. I’m so tired I feel like I’m never going to be able to buy a house and I’m honestly terrified I’m gonna end up homeless. Literally every penny I can spare goes into savings for a down payment I need the guarantee that owning property provides.
I’m sorry, you have no idea what you are talking about. Homeownership isn’t something you get and it’s locked in forever. If anything it’s less stable you just don’t see it, it’s not stability it’s a trap. As a disabled person owning a detached home is absolutely a no go! Also, you have to keep in mind benefits some might have restrictions, not all but some. You are going to have to deal with property tax, insurance and HOA fees that will go up hundreds of dollars. Moving every 1-2 years is probably something you are going to have to deal with for the rest of your life. With climate change and the world needing to change behavior, buying is probably a terrible idea. There’s definitely going to be winners but there will be lots of losers.
![[Live] ศึกมหึมันส์มวยไทยสังเวียนเดือด เวทีมวยชั่วคราวสวนสยาม | จันทร์ 30 กันยายน 2567](http://i.ytimg.com/vi/pM1k6f7JXUc/mqdefault.jpg)
Not true, when you’re renting, your basically paying your landlord’s taxes, maintenance fees, and insurance. You jus don’t get the receipt. 😂
In say an apartment those taxes and fees are spread out over multiple units, so it is still less than if you had to pay the entirety of it yourself
@@jsts22 Than they raise the rent on you
@@MrMarlonmoe You dont have to put a downpayment of 20%. So you can invest in assets that give you larger return sometimes.
@@naxT890 You can just take the 20% down from your 401k tax free, because it's a down payment for a home. Than just invest the money as usual.
So what? You have any idea the expenses that go into owning your own home?
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!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 55 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?
Personally, I can connect to that. When I began working with Annette Marie Holt a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit, If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds. that’s what works for my spouse and I. We've made over 30% capital growth minus dividends.
@@williamDonaldson432 Impressive can you share more info?
This message brought to you by Black Rock.
Exact thoughts
Amen to that......strange that over 90% of all millionaires became millionaires through property
Yeah your message is by black rock because they make money when you make their banks create money out of thin air for your mortgage. And when it steals from everyone through inflation that's also them profiting.
It's also brought to you by math. Tons of people buy a house they can barely afford and end up spending more in interest, maintenance, insurance, new roof, HOA fees, etc compared to if they just stayed in an apartment. Not to mention the opportunity cost of not using that money for stocks which return far more than home equity.
😂😂😂😂
Owned a home outright paid for in Pensacola Florida, got behind on my taxes due to health and the city took it outright and sold it at the courthouse square, so miss a tax payment and you’ll see who owns your house l.
Buying a home is still better than renting.
NONE IS BETTER
Depends on SO MANY FACTORS
Buying just 1 home and living in it makes it a liability, not an investment that so many people think it is. If it's not bringing in cash flow, it's a liability.
@@donilexington4600 How about the equity you gain from paying down the principle and appreciation?
@@donilexington4600 So rent isn’t a liability? My father has been in the same apartment for over 40 years…when he leaves he gets nothing. If he had a house it would’ve been paid off and if he sold it he’d get at least 500k in ny.
@@tamikaphillipgrantspaparaz7730 500k? In the housing market now, sure. But wait for the big crash that's about to happen. Definitely wont be 500k after that. You'll be lucky it will be worth 200k. Housing prices aren't a good wager to Make money. An investment is supposed to bring in a cash flow, not a trickle. Profit is not garenteed when buying a house. Think of all the tens of thousands of dollars you have to put into the house just to maintain the value. You do not add value to your home when the plumber comes by to fix a leak. These are the reasons why a house is a liability.
With renting I can go anywhere in the world to make money. I'm not centralized to one place, creating more cash flow everywhere I go. I can make a lot more renting because I don't have to focus on maintaining the property.
At the end of the day if you own a house, it's a liability. There's no way around that.
Yeah but you get $0 return from renting where as reality is an investment with the average property increases $5000 a yr in value when you do decide to sale its like you were living there for free and I can sale my house before your lease is up hahahah fool.
That ASSUMES
The Person renting has not Invested the Balance
@@thehorde4868 It still makes sense to own your home because it appreciates in value anyway.
"We the landlords of the United States approve this meesage"
No kidding. Don’t be fooled by the comfortable, well-spoken man. He’s just a wolf in sheep’s skin
@@AlaskanApple well spoken? I wouldn’t let this man sell me a f’ing number two pencil. But then again crypto exist and millions got tricked into that stupidity.
Very true folks. Believe him entirely
Yeah fuck OP, what a capitalist piece of shit talking people into being renters
Yes sr😀😃🤑
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Get to her, if you care…
Elizabeth Green Hunts
Amazed by this, will partake on it surely.
The benefits of owning a home,
- Your mortgage payment stays the same.
- You’re not subject to rent increase, like now.
- Property value increases over time.
- After 2 years you can refinance and get a lower monthly payment.
- After it’s paid off, it’s yours and no more rent 😎
- You can leverage the equity for another property.
- You can sale it and make a profit.
- You can rent it out to this guy 😂
Mortgage rates change u idiot
I still do not see the benefit of owing. The house is never yours because you have to pay property taxes, insurance, maintenance, in some areas HOA fees. If you can’t pay the taxes-the city will take the home anyways. 🤷🏾♂️
😂 rent it out to this guy
@@msbeautyboss3784 why wouldn’t someone be able to pay their property taxes if they’re home is paid off? If they can’t, they have other problems. Even if property taxes were $4K a year, that’s less than $400.00 a month with no mortgage . If you have a mortgage paying taxes and insurance is built into your monthly payment via escrow .
Lol
I bought my home for 320k in 2012
I sold that same home for 1.2 million in 2021
Even with all the maintenance and taxes
My home practically paid me each month for the last 10 years. If I would’ve taken advice from a guy like this 10 years ago I wouldn’t be where I’m at today. All advice isn’t good advice. Do your own research…
And for the person who bought your home? If the market keeps going down and he sells it for 800k or 600k? Lololol
@@tammyturowski6703 - Real estate never stays down permanently. Never sell at a loss. Patience is key. Patience… ✋🏽🤚🏽
@@brandonleesanders you're assuming this is just a normal up down cycle. You don't know that. Took 5o years for ppl in stock market to recover after great depression. And sometimes ppl sell. Job change. Marriage/divorce/retirement.
Just stating If u sold at the peak of the bubble it means someone else bought.
I'm not fear selling my house. I bought in 2017 and I have a 2% rate. I'm in a good position, regardless of what happens.
@@tammyturowski6703 - Your information is completely inaccurate. The Great Depression started in 1929 and lasted till 1936. After the Second World War the USA was absolutely booming in the late 40’s and early 50’s. If we’re doing simple math… That’s 20 years which is a normal cycle. As it pertains to economic cycles all of this is public information. These economic cycles have been roughly consistent for the last 200+ years. I’d also like to add… if a person is buying a home for 1.2 million dollars chances are it’s not their last 1.2 million dollars in their bank account. All of this boils down to making smart decisions with your money and not over extending yourself. If you never build wealth then you’ll never have wealth. You’ll just end up on TH-cam taking advice from a guy that has more money than you… Sometimes it’s better to do less talking and more listening then ultimately formulating your own Analysis based on the information that’s been presented to you. The people that lost everything in the Great Depression were the ones that invested every dime they had without diversifying. All of my money is not tied up into my home. Neither should yours or the person that purchased my home. I’ll leave it here because your theory is just that… “Theory”. My experience comes from just that… “Experience”. I can only educate. It’s not my job to convert a naysayer into a believer. If you believe that it’s not possible. Then it won’t be possible for you. Good day to you.
True
But you sold at the peak of all peaks
Your house is likely worth $700k realistically
It’s already down ~900k now
Yea my mortgage has stayed the same since I got it while renters expenses has been skyrocketing with rising costs.
Werd, fixed mortgage and a refi ftw 🙌
What a lie. No mortgage stays the same year over year unless you’ve only
Owned for less than that. What expenses does a renter have besides the rent itself ? If you rent and pay for repairs or maintenance you’re a fool.
How about the tax And Insurance
Has it stayed the same?
@@BILLIONAIREGH does rent stay the same as the landlord's insurance and taxes increase?
@@blakethornsbrough1528 you did not answer the question
It alllll boils down to what you want in life.
Pretty much
Only sensible person in the entire space of TH-cam comment sections
What does that mean. Vague response
Exactly! My rent is $1.2K, I make $95K per year, total monthly expenses $1.5K, and I invest $25K yearly into my ETFs and 401K. I decided to live life way below my means so I can be rich in real life not fake Debt Rich!
No Baby Mamás, no Car note, no Credit Card Debt, No High Ass Rent…. All Money In!
Imagine playing monopoly and your goal is just to collect go.
Lmao 😂 perfect
Imagine playing life and being stuck in a small square perimeter.
@@jordanpostle8641 the rat race is what most are stuck in. Running that hamster wheel to make end meet. Can’t attain financial freedom without assets/passive income.
@@jordanpostle8641annnnnd happy about it. Have fun with U-Hauls
Off camera he finish with saying "you should ask the people that rent from me" lmao 🤣
😂😂😂😂 right he definitely owns a place
People will have to accept reality that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Sure I'm not alone in my chain of thoughts, I look towards the stock market to fuel my FIRE goal at this point.
after studying the trajectory of great assets like real estate, dividend paying stocks and gold, my conclusion is to buy and invest in what you can afford today! working with a financial planner can certainly help
@maria_casey real estate prices exploded, interest rates exploded, but my wage the same, i'm screwed.. who is the professional guiding you if you dont mind me asking please?
I feel exactly the same
genx losing their whole retirements to banks and thinking they are really smart ahaha
The American dream today is not having to move every other year because the rent went up.
For you. My rent hasn't gone up in 6 years. And I have economic freedom, able to invest my money with great cash flow. Buying a home is a heavy debt to take on for 30 years.
@bill joseph that's you, living in your grandma's basement with that white woke liberal lefty clown name. Stay woke tho clown 🤡
Secondly, not to mention you’re tied to a financial responsibility in one area and cant move around flexibly if a financial opportunity arises.
@bill joseph just say your in crippling debt and need tenants before you go broke and move back in with your momma.
@@julzcez6669 The appreciation is usually just as good or better than another type of investment. Stocks go up, they go down, and maybe go up. RE goes up, it goes down, the general trajectory is up, up, up, down, up, up, up and up...
this guy is a perfect example of why i keep buying houses to rent out for a profit.... thank you sir
Best comment on here, lol
That doesn't mean anything lol
@@P.90.603 exactly
Exactly There will always be renters that allow me to live rent free
@Trente James yeah, tell all of the folks complaining about the cost of renting now.
I guarantee every person you hear saying this is a landlord
You right but I also agree with him, as a loner and someone that's not interested in marriage or having kids ..I like renting...if you getting 💵 unless you planning on having generations and leaving them you earthly possession no need to stress yourself with properties and all the hassles it brings.
A true landlord is one WHO owns oughtight
Not one who has 30 years to go and Posing as an owner
@@BILLIONAIREGHthat type of ownership doesn’t exist anymore. You’ll still have to pay the property taxes on a paid off home.
Remember, most owners were once renters. Most renters never owned before. Therefore, the renters trying to justify renting is shortsighted.
I bought a trailer camper i don't pay nothing in rent
As a landlord I agree keep renting 😂
Eventually everyone will be renting. It’s been heading that direction for a while. You know there’re more empty houses in America than homeless people?
Lol. Agreeeeeeed!
Yea because you want to keep your job
I would rather continue living in my truck than rent and make a landlord rich. Can't wait for the housing market (and economy as a whole) to crash again so that I can finally buy a house. This time I'm ready and have enough money set aside to buy a house outright. I will most likely buy it from a desperate landlord that is in need for some quick cash.
you invest in the stock market?
I like how this dude is trying to tell me the American dream is renting a house your whole life 😂
😅😅 right
Where in this video did he say that? You can't answer that question because he did not say that and he did not imply that. He very clearly stayed that for most young people the main "dream" is to be financially free and to not be tied down with responsibilities associated with one geographic location. That includes not owning a house where you are not planning to live long term. You may want to practice your active listening skills.
@@thesig301 no. If that is the extremely superficial surface level point you took from it then you aren't listening. Refer to my previous comment and rewatch.
@@alrbredwall so why in the last 5 seconds did he say you’re paying someone else’s mortgage, home tax, and maintenance fees, how about you rewatch the video..
@@alrbredwall such a pointless argument tho, you’re basically agreeing with me. He’s saying you shouldn’t rent, and then he gives the reasons why you shouldn’t rent, which is effectively the same thing as what me and the original commentor said.
It's always best to take your advice about Marriage or relationship, Parenting, and Home Ownership from people whom are not married, don't have children and don't own a home. 👌🏽
Yea u don't need to be married to understand relationships, and u don't need to own a home to understand real estate...
parenting? Simple, keep ur kids on a leash, your welcome 😂
@@mroctober3583 Don't forget...being a Dog and or Plant Mom and Dad us EXACTLY like being the parent of a Human! Bwahahaha!
@@YaBoyNigeMakinMoves
Thinking u need to first own a home in order to know how real estate works is like saying you need a business degree in order to start a business lmaoo 😂
"Phuck them kids"
@@mroctober3583 With the exception of Fuck them Kids... I have kids, you may not, I would agree you may not need to own a home or have a business degree to understand. Adam often speaks in "definitive" language on these topics.
@@YaBoyNigeMakinMoves
Yea the kids angle is the only 1 of the 3 I'd say you need to actually own or raise in this case 😂
"You'll own nothing and be happy" Klaus Schwab World Economic Forum
*Klaus Schwab
@@nicksteinberg6621 Corrected thank you sir! Stupid spell check
"Owe" or "own"?
Huge difference! 😅
@Beat Mymeat Your handle cracks me up dude, they want the plebs to do much more than that ludicrous nonsense of which it sounds like you're aware. We've already seen many of the useless eaters "disposed" of but also too many loved ones in their first of many planned cullings. Continue to be strong and resist the slave mind. Have a wonderful day Brother!
@@williamlee7782 Jeez, corrected again. Thank you sir! Have a wonderful day!
My house was paid for before I retired. I can live on social security because of no rent.
Do you live in the woods? How about your property tax/insurance and/or condo fee??? Exempt from that??? Because last time I checked...that is also a monthly or, if you choose so, semi/annual payment.
@@dzordzdzordzinjo1840 that was dumb. Did you not read the social security part? He has those minimal monthly expenses covered. I have paid off my mortgage as well. It is glorious.
@@dzordzdzordzinjo1840 The majority of people with good jobs have some sort of pension. You don’t just retire and have 0 income. Regardless. You should purchase assets in your earlier years so you have some sort of a buffer later in life.
@@dzordzdzordzinjo1840?😆😆😆 inside and taxes are not as expensive as rent you dum dum
Me laughing while I rent out my mortgaged property for double the mortgage price
Mao would definitely have some words with you
And watching your equity erode in the next 2 years. And we don’t know whether the FED will rescue the markets. So in fact, it may take a decade of rents to recover that equity destruction. Selling at the peak of a FOMO market is a much better option IMO. Just like 2006. Only to buy properties at 30-50 percent discount in the years following. Rents are overrated
@@bbustin1747 my house will be paid off in the next 10 years .. and it’s a multiple family with rent coming in. I’ll be living for free with income coming in monthly. If u rent forever, you just help pay the other persons mortage. And end of the day, I can sell and all that money goes to my bank account.
It all depends on your situation. I wouldn’t do single family with a 6% interest rate .. be smart and invest , real estate will be here and needed forever
The American RE market along with the stock market has been financialized in the build up to 2008 totally imploding the RE myth has never fallen and was resumed by the FED in 2009 with further debt monetization and near zero interest rates… once the pandemic hit .. the FED was further tested on how they maintain those asset bubbles from imploding… they unleashed over 5T of liquidity to keep the markets stabile …. Results- historic Inflaeion and further building those asset bubbles. End result the 40 year financial engineering experiment of endless debt monetization and engineering by the FED has reached its apex. They cannot continue unless they wish to have hyperinflation and with that, will exhibit societal effects with unrest making 2020 look like small in context. The days of cheap money building fugazi assets are ending. There is not going to be a soft landing as much as the touted transient inflation. It’s a FED lie and govt manipulation pandering to keep stabile markets and appeasing investors. believe only in what they do not what they say.
Poor people always say renting is better than owning so they can feel good about renting
Rent is going up every year while my mortgage is staying the same. But, as a landlord and real estate investor myself, I love renters. Less competition😊😊😊
Well my $2,500 rent is gonna have to keep going up for 7 years to finally catch up the $5,000 “fixed mortgage” and in 7 years, mortgage is gonna be 9,000 a month or $10,000.
And how’s your taxes and insurance and utilities and upkeep going come on man you can’t come here and say it’s all good when we all know that’s all gone up. A mortgage is just a rent payment your just paying the bank instead of a landlord but really your paying more each month with everything else I just mentioned
@@ryans413 the renters pay for all of that stuff for me.
@@ryans413you're so much of a loser renter that you're clueless YOU the renter are PAYING all those fees AND MORE for the landlord's PROFIT. If being a landlord is to rent out for less than what you owed the bank and fees and fix problems for free, there wouldn't be landloards.
I can't plant a garden in my apartment. I can't paint the walls the color I want. I can't swap the fixtures to something nice. I can't refinish my own floors in my apartment. I have no guarantee I won't be asked to leave 2 hours, or 2 years from now.
Owning a home has its own drawbacks, but it's sure as fuck better if you can comfortably afford the payment.
NOT ONLY THAT - and well said by the way, rent is now WAYYY more money than a mortgage payment. I live in FL and rent is out of control - 2.3k on a home that if you took out a mortgage on that home 1year ago would be 1.25k its that simple. This imbalance is now baked into the system so now more than ever renting is throwing your money away.
Facts. I bought what I could afford 18 years ago and people laugh at what I pay for fixed mortgage, after putting down quite a bit up front.
Kept us out of trouble in 2008. Keeps us from being brokey's, now
But that's your life tho lol most ppl dnt give a damn about a garden or the color of the walls lol I've lived in 4 different apartments n ain't ever thought about none of that shit that's all extra stuff
For the average person they can’t afford to rent. It makes no sense. How can you say that you can afford to pay 2000$ a month in rent and you have to work for a living. I work for a living and I can’t imagine giving up a quarter million over ten years for housing. I don’t pay anything for housing.
@@trentejames9773 Nah you're the minority here. Most people do care about where they live.
This is why we don't just listen to anyone just because he sounds like he knows what he's talking about.
I know that when I sell my house if ever, I'm going to get all my money back, and then some.
Right. And those who rented for 30 years will be in much worse position come retirement. Passing down real estate is one of the biggest tenants in generational wealth
@@mr.brooks9802 there are plenty of ways to build generational wealth without owning a home. Also what ppl aren’t told is when an economic crisis happens all them payments on those mortgages go down the drain when you lose your job and end up losing your house to foreclosure.
Bought house 6 years ago sold it and made 50k off it, it isn't that hard to sell a home if your goal is mobility.
@@mr.brooks9802 A lot of these guys that preach renting want people to be reliant on a landlord. You're tied to the landlords rules and the landlord holds all of the power over you and you own nothing. Right now I can sell my house right now and pay off my morgage and still profit around $230k. Let's say I buy a $500k house and I put 20 percent for a down payment that's $100k, boom I have $130k in my pocket. Not even going through what unknown tax benefits I might have at my disposal. Rents don't have that benefit. I can also just simply stay in my house and pocket the $230k.
How do you know you for sure that you'll get your money back???😂😂😂
Then why is there "Renters Insurance" ? On top of the deposit? There are fees and bs
My understanding is renters insurance is for your own belongings in case they are stolen or destroyed. Home insurance is for the literal house if it falls apart from something like a flood, wind, fire, etc. Personal belongings are usually way less expensive than an actual home. Renters insurance is like $100-$200 a year and home insurance is a couple thousand.
Renter l’s insurance is about $7 a month here in the East cost. If you can’t afford $7 a month then perhaps you should be owning a house.
I rent and there's no rental insurance lol my landlord Suggested I get some just incase I do sumthng stupid lol
If you, buy a house, you get freedom at your residence (much more than a renter), a lot of tax deductions, build equity and and you can buy more properties with that. After many years, in an upmarket, you can resell it for a profit. If you rent, then you are paying for the landlord's mortgage, insurance, taxes etc. etc.
Solution? Save up enough money to afford 50+% (I like 100% but that's me personally. 75% is good too) of the house of your dreams, then get a 20% down payment on it or whatever that way you have a BIG cushion for those rainy days. Budgeting is a must have skill folks
My house is paid off along with my vehicles so relaxing at home in my favorite chair in peace, is priceless!
Good for you . This is what renters don’t understand . At some point you can pay off your house and just pay taxes and insurance and not worry about your rent being raised on you.
@@eliot5220 until your furnace breaks or a waterline burst or the city ups the taxes and utilities or the wind blows the shingles off your roof and now you got leaks destroying the inside of your home. It’s all good when nothing bad happens I’ve seen people lose everything to the upkeep side of things.
@@ryans413 that’s because they didn’t have money in the bank for repairs. I’ve replaced furnaces , roofs and plumbing systems. The key is to have reserves set aside for repairs.
@@eliot5220 unexpected expensive happen all the time you can save for it but you never really now how much the damages will be. I’ll give you an example my parents saved money for the upkeep side of things. A bad hail storm came and destroyed the roof and siding and my dads car and moms car parked outside the insurance covered the house but not the vehicles stating it was an act of weather and insurance on cars is not covered for that the insurance covers accidents on the roads not from storms. My mom needed her vehicle so my dad took the insurance money from the house and used it too get my mom a car because no body shop could fix hail damage it’s a right off. So my parents had to dig into there saving to fix the house. No choice roof had too be done. So what I’m saying is you can be prepared but crazy things still happen
@@randomized559that's what these loser pro renters don't understand, RETIREMENT! After the mortgage is paid off, you only pay taxes and insurance which is probably 400 a month as opposed to their loser ways, maybe 4000 a month by the time 30 years is up. They really just use "maintenance" as a "pro". Funny, i used to live in an apartment. Maintenance fees are included in the monthly rent. If anything is damaged, that's additional fees. No landlord or management is gonna rent to you for less than what the owed or fix your problems FOR FREE. That doesn't exist. They fear the responsibility of fixing their own problems rather than letting the landlord deal with it. Ohhh they'll deal with it financially but not physically.
I am 1 year away from paying off my mortgage. Retirement is 20 years away, but, I would never be able to retire paying rent. Think long-term….not short-term. Yes, it is tough early, but buy smart, and grind it out….until it get easier as you increase your earnings.
So let me get this straight... the same channel that doesn't believe in the efficacy of minimum wage because arbitrarily raising wages simply gets passed onto consumers via higher costs, claim that renting is better because you don't have to pay certain things DIRECTLY.
How exactly do you think landlords make money? They have to raise rent high enough to still make acceptable profit AFTER all those costs he just listed off.
Benefits of renting are lower commitment and less to think about, i.e. CONVENIENCE. You will always pay more for convenience.
Correct me if I’m wrong but isn’t that what he was getting at in the beginning? (being able to move around/up and leave whenever) it make for some in their younger years.
Although I will say he could be invested in real estate and this is why he is championing for renting rather than buying.
This can solved with a simple question. How many properties does Adam himself owns that he rents out? Just ask that.
He’s questioning a paradigm. “Go to college.” “Buy a house.” “Renting is throwing money out the window.” As often as these things have worked out for people, they ought to be questioned. Everyone’s situation is different and it’s best to map out one’s values, current assets:liabilities, and then constructing a decision tree. It isn’t wise to assume the best route for yourself is to go to college, get married, and buy house. It might be or it might not.
I’d rather take my chances and live in my own home than throw myself at the mercy of living in someone else’s home.
Unless you’re kidding yourself, owning your own home is always the preferred route most people will take. It’s harder to get it, but if you’re lucky enough to obtain it, it’s much easier and often cheaper than paying rent.
People forget, paying rent is FOREVER. If your landlord keeps you for 70 years, you're literally their cash flow. You literally paid off their home and STILL paid them market value monthly after that. Forever renters are not smart.
Most people think there only lifetime goal is owning a house , married , kids. It’s really simple math, add up mortgage interest, HOA , property tax, and house insurance. That is all money that is being thrown away , equal to rent money. The only way owning a house makes sense financially is if the house appreciates a decent amount and there are no natural disasters which damage your house
Yet renting has also gone up dramatically, nd it really is pissing away money. Id rather pay property taxes, do my own maintenance and own my home.
Tough I guess both got pros n cons
@@Ejr82u True, but at least with a property you also have an asset you can lean against, sell, rent out. With an apt you get none of that. Honestly owning a home is harder and more expensive in the short term, but eventually you see some profit or break even on it.
@@SDguy3030 is there a, way, to avoid property tax lol?
@@Ejr82u Live in the woods in a Cabin
@@eagleeye8916 sh****t lmao
It’s hard because in my area rent is higher then my mortgage. And they are half the size.
Being a landlord isn't easy. People don't pay rent or they are late. Things break down. Plumbing, roofs, heating, windows crack. Domestic violence, teenagers & vandalism. If you are unlucky crime and criminals. Robberies etc...
I’m a landlord, and I love people who think like you…hence why I’m sharing this video! 😂
I’m also a rental property owner. But I rent where I live.
@@JH-qqqqqiim same
There are many benefits to renting. What if you change your job and need to move to another location? What if the location you live in currently isnt expected to appreciate in value? Or you do well in your job and just want to upsize
@Delicious Deviant In my market it’s much cheaper per month to rent than to buy. I’d rather put those savings into out of state cash flowing rentals than sinking it into a home.
So you're a leech.
The uncertainty of rent costs going up astronomically, not knowing if your lease will be renewed and paying your landlords bills while not actually purchasing anything but lost time with your money is a horrible way to live. We almost had to change school districts because our lease wasn't renewed with 30 days notice after 4 years. Panic mode and luck got us to a house purchase in our price range and kids school district in a very fast growing farm area. Homes are double what we paid after only 18 months if you can win the bidding wars. The population boom after covid is insane in my area. There's nowhere to rent for less than 1800/mo, our mortgage is currently a lot less than that.
Best time to buy a house is in a recession patience is key
The best time to buy is when you’re ready
Only if you have enough cash to buy the house... Otherwise have fun trying to get a loan when banks aren't lending
Buy when it's down, rates might be high. Then refi when rates come back down.
If you're waiting on a recession to buy a home good luck.
@Morgan Hill house prices haven't dropped
I had a mortgage once, yes it did suck… but after paying that off, it’s been so long since I’ve had a payment I sometimes forget people are out there dealing with that.
....and you don't have property tax/insurance/condo fee to pay??? Hmmm..."so long since I've had payment"...lol
You should ALWAYS have a place to call your own. Even if it is a small shack somewhere in the middle of nowhere. If you have the kind of job that requires to travel that much, you can definitely afford to buy a nice house somewhere.
Whether you rent or own a home you're screwed in this economy anyway. You'll feel the price increases somewhere. No one is immune to it
Yeah but when you rent they can kick you out whenever they want, they can raise your rent whenever they want, they can cheat and exploit you whenever they want and it’s all legal. When you own a home you pay yourself.
Save your money, pay down your debt and set a goal of buying a house. If you can, get a multi family property so the renter pays your mortgage. The toughest part of buying a house is the beginning stages. Ppl get second jobs, drive gig app jobs, cut back expenses in order to save enough $ to buy a house. Why? Because it’s better then renting and is worth it. For me, I moved from a pretty well off area to a not so good one to save on rent. When I signed the lease I knew it was the last time I would rent again. I spent those 12 months laser focused. It was worth it. Buying a house is better then having a LL.
I bought a house. My mortgage is $600 a month. If I was renting the same place my rent would be $3000-$3500 a month.
This is why I am just going to buy a nice mobile home. I don't need a 30 year mortgage and I also still own something. Good balance between apartment and home.
Why would you need a 30-year mortgage?
It’s about having a place for your family to always come back to. Home property doesn’t depreciate as well
You overheads high when you rent my mortgage is $700 a month rents $1600 😂
Sure but that’s when interest rates are low, not higher like they are now.
Yea, in the 80s intrest rates were 10-12-13 % people were still buying. All about what ya want.
@@unvaccinatedmgtowfitnessmy brother just bought a rental property. 20% down and his mortgage(taxes and fees included) is 2000. He rents it out for 2600. That means he profits 600 a month. That's profits for him and in case of maintenance, he has extra cash from the renter to cover the costs. If not, he can charge the renters more after. You understand the landlord business yet?
@@hangguy209ok but he paid 20% down, that’s probably almost 100,000 that he had to pay. If my calculations are right, it will take him like 8 years to get the money he put in down payment back at $600 a month without counting all the maintanance expenses etc. 🤔 Am I calculating something wrong?
I bought my house for 680k in 2020 with a 2.8% interest. Its valued at 1.4 M today. I think that was a good investment.
I rent everything. My house, my car, and even my vacuum cleaner......at the end of the month I don't have to fix anything but I own nothing.
Why am I still broke ?
I think it's just knowing how you want to live because you can have a house and you can't afford to manage it, then it becomes a liability.
When rent prices keep going up every year buying house with a fixed rate sounds pretty reasonable.
Flexibility of renting is nice until you see how much equity you missed out on by not buying. Not so much nowadays due to little room left for growth.
WOW I JUST SAID ALL OF THIS TO MY HUSBAND JUST LAST NIGHT WHEN DECIDING SHOULD WE RENT OR BUY OUR NEXT PLACE. I SAID, I WANT TO SIMPLY RENT BECAUSE OF THESE THREE REASONS PLUS I DONT WANNA BE HELD DOWN TO A 30 YEAR PAYMENT BECAUSE HELL MY MIND MAY WANNA LIVE IN ANOTHER STATE IN TWO YEARS IDK🤷. IM NOT GOING TO BE FORCED TO BUY JUST BECAUSE MY NEIGHBORS BOUGHT. I WANT IT SIMPLE, WITH NO EXTRA OBLIGATIONS. WE TOO OLD TO BE TRYING TO CUT GRASS AND FIX ISHHHH 🤣🤣🤣
baddd advice, when you're renting you;re paying someone else’s mortgage!!!! So after you rent for 15 years they own the home and you own nothing!!!!!!! And they got YOU to pay for their asset
Dave ramsey would have a seizure hearing this.
Lmao but Dave Ramsey usually helps married people that have or want kids. This renting strategy I would say is more for single people and it makes sense.
@@peruvianheat2053 Math is math. Having a paid off home is much better than renting.
@@I_like_turtles_67 I agree with you, of course having a paid off mortgage beats renting.
@@peruvianheat2053
Don't listen to this guy, holy fucking shit. Even if you're single and a techie that can work from anywhere, renting is just paying someone else's mortgage, taxes, insurance, etc, PLUS whatever added cost to allow for landlord's profit.
This is shit advice.
Newsflash: Mortgage was invented by the Banks to create more long-term Business for them !
I think it depends. If u save up enough $, then buy a house, u can actually afford, then having a mortgage will be better in the long run than renting. I think the problem is that most middle class folks buy homes that r a bit over their true budget
My mortgage is 575 with taxes and insurance I don’t think you can find a rent close to that unless it’s a storage room 😂
And the landlord raise your monthly and suddenly needs to kick you out within 2 weeks!
And suddenly the city raises the taxes and insurance and utilities and your now stuck trying to sell your home.
@@ryans413 ohhhhhh got emmmm!!! Sorry but ur come was definitely felt🙌🏽🙌🏽🙌🏽🙌🏽
Not to mention that in many western states and provinces, It’s not easy for landlords to kick tenants out or even raise the rent by much..
most municipalities are pro tenant. There are tenants that just stop paying but the utilities, taxes and mortgage bill will still come to the landlord and the tenants get a free ride.
@@ryans413😆😆😆😆 nothing that dramatic will happen. Have fun paying premium in rent forever.
Not in Canada.
When you want or have kids, you can’t just pick and choose where you want to go. There needs to be stability.
Well that was your decision
Says who? That's how you want to live
@@danielfrancis1208as someone who's parents kept moving every 2 years, please go for the stability. I didn't really make friends for over a decade and also never learned how to get attached to someone because of this
Buy as an Investment Property IF your in the Market to Purchase. Not as a primary home.
There is a difference between buy to live in and buy to let. People are conflating the two. If you only have enough money to get 1 place to live in then it is better to rent. Don't have to put your life savings down and you have excess income to invest on increasing your earning power.
He's probably saying that because he owns property and wants more renters lol
Do what I did for two years. I rented my house out and went abroad. Lived like a king and enjoyed every bit. The rend paid for the mortgage.
I basically live for free renting out two rooms in my large home… I’ll buy…
Buying a house is way better if you put a good down payment and stick to the plan
The expense when you buy a house is that in your mind: it's your house. Which means from now on *any* thing you spend so long as it's on your house. Becomes, *I'm raising the equity* of my house. Your house becomes the biggest black hole to throw money on.
I’m literally paying less a month for my mortgage than anyone I know paying rent
Lmao the taxes, maintenance, and insurance is baked into the rent 😂 🤣 😅
I have a 2 bedroom in Manhattan. Ac, heat, hot water. All repairs included. 1230.00 per month. I can’t fix anything. God Bless home owners
1230 a month in manhattan is super cheap. U betta hold on to that lol.
@@MACSTEEL107 Till death do us part😆
@@wayneshawlinski4898 lmao even if u leave u can sublease that apt for 2500
@@MACSTEEL107 More then that legally
I would rather pay $2-$3000 for insurance and property taxes for an entire year versus 12 to 20,000 a year somewhere in rent endlessly.
If your renting you are still paying the taxes ,mainlanders and insurance it’s built in to your rent payment
“You’ll own nothing and you’ll be happy”
Mr thoughts exactly. I don’t think n people saw the comparison here.
We need to stop saying “buying a house” or “home ownership” when you have a mortgage. It’s a straight up lie. You aren’t buying it, you’re financing it, you don’t own it.
Only if you paid cash for it outright do you own it. And even then do you really own it if you have to pay taxes on it every year? The answer is no, try not paying your extorted yearly property tax and it won’t be your house.
So you down own the properties you rent out?
Yep. So glad I'm a 2.7 percent!! Fixed!
Bad advice. Youll get the money back. Own. Dont live under the finger of others if possible.
Avoid debt, if you can pay for a hut, debt free, you'll be better off. Work just as hard, and don't spend more than you get. Success!
I rent and will probably rent till i die. Im poor. I wish and dream i could have a home of my own. But its just that. A dream.
My moms mortgage is 1400, my rent is 1300 am I saving money? Hell no I’m throwing my money in the trash and my mom is buying a house. Renting is only okay from 18-27
This clown is stating the American dream is to “keep it moving, stay flexible” 😂
Same type of dudes that’s 50 and still no family. Most people’s dreams are still to be a home owner. Be settled. Be in a stable and trusting relationship. Start a loving family. Raise and develop the next generation. And YES, economic freedom!
Can we talk maintenance and upkeep?
Lawn mowers, paint, appliances, furnaces ain't free!
Not to mention your time and energy.
All are costs not figured into home ownership.
Rented my whole life. Happily.
bro if you don't plan on moving in 5-10 years and ur rent payments are more expensive than a mortgage with 10% down, and assuming you have 10% down cash payment .... then buying is the best investment.. this guy is talking about if u have millions or something
If you own your house, you can rent it periodically and live wherever the hell you want. This guy is a goddamn clown lol
its crazy how many people are here talking about renting vs buying.. while they compare apples with oranges.. its easy to claim its much better to buy than rent when you purchased pre-covid.. now houses are 2x the initial prices, inflation is doubling.. and the context is much different.. also, easy to roast the renters , but when you are alone with a kid, buying a 400k house is quite complexe.. life is not so black and white.. We can take from the video that renting can offer something as well, you just need to invest and not waste every extra penny..if you can’t find hapiness by having a roof over your head.. then you have to do major work on yourself
The average net worth of a renter v an owner is drastically different.
Back when real estate prices were low and interest rates were low buying made sense. Nowadays it does not make sense to buy. Most places you are going to buy a house for $500k+. For $500k you will need 20% down to avoid paying PMI. 20% down is a whopping $100k yikes. Then you will need to get a loan and make costly mortgage payments with interest. It doesn’t stop there, you then need to pay property tax every year and yes this goes up. You will also have to pay homeowners insurance and this has been skyrocketing and you pay every year and it also goes up. Also, don’t forget HOA fees these often go up each year as well.
After that you need to pay for all the maintenance yourself. In 18 years of my small home, I have replaced AC twice, re plumbed entire house, replaced water heater twice, resodded twice, replaced roof, had exterior repainted, resurfaced driveway, re stuccoed exterior walls, and more.
Fortunately I got in over 18 years ago when prices were low. I would never buy now. Once I sell my place I plan to rent and pretty much do what he said, keep overhead low, be flexible, live where I want to live, move around, try new cities, etc. You just have so many more options when you rent and you don’t get stuck or tied down because after your year lease is over you can move somewhere new.
you do pay for the big 3 because the owner of the property is paying for that with rent income coming in.......
Investing is the better way to go. I have had so many investors into the turnkey multifamily opportunity I have available, tell me that they invest to have passive income, before they buy their dream home.
You have the same three expenses when operating a car. By his logic, he'd tell you that renting a car is less expensive than buying a car. 🙄
Yeah but if you're the OWNER of the house you WANT to SELL IT, don't rent unless you're actually INTO that sort of thing because renting property and houses is MUCH different than just selling them straight out. A LOT more pain in the ass and a LOT more involved to get it to where it's successful residually.
Hopefully everyone who flips houses isn't relying on that to prevail then from poverty later on, if this renting trend happens, there's gonna be a lot of people disappointed.
Don't put a bandaid on it and move on, SAVE the industry and make it the way it was, so EVERYONE isn't losing out. Don't just ignore it give up and move on.
Both options are fucked 😂 either you paying the landlords mortgage 💸 or the bank staffs salaries with your interest, both fraught with dangers and stress ie evictions, rent rises, interest rate rises or inability to make loan payments
That’s weird. I bought a house 3 years ago. Sold it and make $330k and now I own 2 houses. One of which is a rental. I think I’d much rather own 🤔
This 🤡 has been sipping that Grant Cardone Koolaid who preaches the same thing because he owns hundreds if not thousands of rental units. 😂
If you reading this, these video is a lie. They want you to rent, because big banks are investing in renting more and not mortgage.
Nope nope nope I’ve moved every 1-2 years since I was 11 all I want is a stable permanent place that’s mine. I want to paint my walls, and buy furniture for a specific space, and build a library without having to worry about moving hundreds of books every year. I’m disabled and physically having to move is exhausting, and I don’t feel like myself for weeks if not longer. I just want roots I want to feel stable and safe. I’m 17 (18 in 2 months) so I’ve also seen rent skyrocket in my lifetime, it’s impossible to keep up with, quite literally rent has doubled in my area over the last decade as a kid people paying 5-8 hundred was very normal, and now I don’t know anyone who doesn’t pay over 1000, also, you are expected to pay renters insurance where I live which is pretty close in price to homeowners insurance. Maybe if this country (usa) had actual rent control and landlords couldn’t just not sign your lease for next year so that they can raise the rent for the next tenants renting might be a good option, but that’s not how it works. I’m so tired I feel like I’m never going to be able to buy a house and I’m honestly terrified I’m gonna end up homeless. Literally every penny I can spare goes into savings for a down payment I need the guarantee that owning property provides.
I’m sorry, you have no idea what you are talking about. Homeownership isn’t something you get and it’s locked in forever. If anything it’s less stable you just don’t see it, it’s not stability it’s a trap.
As a disabled person owning a detached home is absolutely a no go! Also, you have to keep in mind benefits some might have restrictions, not all but some.
You are going to have to deal with property tax, insurance and HOA fees that will go up hundreds of dollars. Moving every 1-2 years is probably something you are going to have to deal with for the rest of your life.
With climate change and the world needing to change behavior, buying is probably a terrible idea. There’s definitely going to be winners but there will be lots of losers.
Renting is throwing away money! You can’t “pay” off rent & paying rent is just paying off someone else’s mortgage.
So sleep in Street for no cost?
Yes, by renting you'll own nothing and be happy!😊
Listen to this guy if ya want 😆 🤣 😂. Gd lemmings