I bought my home as a single parent with three kids I was late many times but they work with you best decision ever it was not the greatest area but I have a lot of equity I told sisters YEARS ago to buy a home they had move out of the last apartment and now have to move from the current one and one of them is a amputee… sad but you just can’t get through to some people
You are winning across the board‼️🙏🏿 Working on knocking my mortgage down. That credit card debt that I currently have is top priority, once I get that out the way, everything else gone be smooth sailing......
Very smart woman. I sold a rental to finish paying off my home. The sooner the better. I still pay house note to my bank account and use that money to travel the world. I've been to every country I desired now I'm repeating the places I enjoyed the most. Paying off your home is so sweet. 😊
My sister got her a habitat home in Atlanta. The home was built from the ground ten years ago she still has thar home for her and her 4 children. She went from being homeless with 4 kids to getting into the habitat of humanity program, and she now has a home built from the ground. Now she is a deputy sheriff in Fulton County. We're so proud of her.
@mrstevejackson100 Exactly, I don't understand why some people say that, all homes are built from the ground up. Now if her sister bought a brand new home that no one ever lived in, she is the first home owner of that home, it makes sense just to say that.
Man I'm glad I had the fortitude 7 years ago to purchase my two bedroom townhome now my mortgage is most people's car payment best thing I've ever done for myself me and my boys. Hello
@@markoushayes2233 I worked at a foreclosure law firm too back in the day! You're correct. Foreclosure is a LONG process that can be delayed multiple times
My 23 year old son works for a major car manufacturing company in Alabama. He bought a house. The best decision a young man could make . I’m proud of him.
Oh yes I used to work for the Department of Corrections and do assessments on the inmates. There are few of these inmates that have managed to gather whatever resources that they have accumulated while incarcerated and buy themselves some property while incarcerated so once they are released they have a place to go and lay their heads and might I add, these homes are paid for free and clear.
I agree Walter, I bought my house in Nov 2021 when interest rates were low and since I was a 1st time homebuyer I had down payment assistance. At closing they paid for everything. All I brought was a $400 cashiers check.
My grandma left me and my mom 2 acres with a house in disrepair. After she passed I've paid taxes. After 5 years of staying in an apartment and paying taxes I moved. Rent became ridiculous. I'm going to put a tiny home the size of a 1 bedroom on the property. If you have little money just get a piece of land and go from there
👏🏾👏🏾👏🏾👏🏾 I’m not living in poverty but I no longer feel the need to rent, especially with rent rising yearly. Doesn’t make logical sense for my situation. I’ve started the process of purchasing!
People don't want to go through the programs because these programs hold you accountable. They make you take classes on homeownership personal finance etc. they put you on the budget tell you how much money needs to be saved every month. When something requires legwork people don't want to do it but when something's free everyone's in line. some people would rather go without than to have to do things right.
A lot of people dont want the responsibility of owning a house🤷🏾♀ and owning a home DEMANDS stability....you cant abandon a home🤷🏾♀ but a lot of people will run from their home to follow a dream in a heartbeat 🤷🏾♀😳
It's a mindset shift. I notice my attitude shifted and was prioritizing and more serious about investing into my future. Buying a home gives a sense of putting down roots and it guides longtermn decisions
This is so true!!! A home has payment control! If anything happens you get payment assistance! Most states have downpayment assistance to buy! I have purchased 2 homes already with pennies out of pocket! Its literally the only security we have!
Periodttttt!!! I put pressure on myself in my early 20s and I did it 2x. If I had children I would work 3 jobs to make sure my kids would have a home with a yard. Next step I want to purchase a cottage on an island or Mexico. No weed going to hold me back lol
The problem is people buy homes and then are not positioned financially to maintain them or handle repairs. My friend's brother and his wife spent the entire summer in their house sweltering because they couldn't get the $6,000 together to get the AC unit fixed. They were in no way ready to. own a home. People need to stop being shamed into buying homes. If you want to fine, but if you don't that's fine too. Doing that when you are not financially settled can be a disaster and cause issues for years.
@@WalterLeeHamptonIIyes Walter I been in my home ten years,I qualified for weatherization,it's in every state they replaced my heating,and air system when it went bad! They also repair roofs and replace windows! When your income is low that is the best time to qualify for weatherization!Tax dollars at work!happy in my home for ten years,!❤
You’re so right Walter! There’s a tax for being poor and/or financially irresponsible. They pay on the back end with higher interest rates, late fees, reconnection fees, etc. Some of them don’t realize that the money they think they don’t have is actually there being wasted.
That is true I hear if you cannot afford to rent then it is best to get a home, the only problem is some people cannot afford a home and maintaining it could cost much, so there is pros and cons to owning a home.
@bosslady6198 Agreed!! Even if you buy the house and pay off the mortgage, you still have property taxes, home insurance, and maintenance. Also, property taxes are proof that you will never actually own the home.
At this stage owning a home or condo would be too expensive for me because I live in a big city. I’m better off renting until I can relocate to a state with a lower cost of living.
That’s crazy I was just looking at the Homes app and trying to come up with a savings plan, and you post this!! Talk about a sign!! I rented for 2 yrs and (I was given the luxury to) came back on home, that 2yrs I wasted on rent I really could’ve been saving. Loud neighbors, I could smell their smoke coming thru my walls, roaches…it’s just not for me. Im happy I got to exp it in my 20s but it’s really overrated. I’d rather help my parents and pay rent to them, which, in comparison, is less than I was paying for that little shoe box, and save up for a home.
You are absolutely right! I bought my first house at 23 years old single and sold it when I retired at 46 😊… buying assets is the best investment for yourself and if you have a family.
Ohhh... what a point "Wealthy people should rent. Poor people need to buy a house...." AGREED. I AGREE with every point surrounding home ownership, and frankly, I'd say that goes for middle-class families too... BUY A HOUSE versus renting... and it's not as though the house has to be anything luxurious or be anything that you have to buy just to show off to people. You can make any house look beautiful... just buy one.
Get a gallon of apple cider vinegar, and put cups of it by ur kitchen sink. They like the smell and will drown themselves. Place a few cups around the house. It really works. I had that issue over the summer.
My 27 year old niece bought a 3 bedroom/ brick house off auction 4 years ago.. It was tore up, but she finally got together. When she lost her job, she didn't have rent to pay, but the thaw fund helped her with her utilities, til she went back to work. There's a lot of options out there.
Guys yall better listen . People who rent out properties especially apartments are crazy how they treat people. I have two houses on an acre of land. I get phones calls and notes on my property. The answer is always no. No . I don’t want to sell
Living in this apartment is a nightmare because of our neighbors the floors feel like a earthquake shaking fat kids playing and stomping rocking our bed making it hard to sleep. I’d love to buy a house next year, convincing my boyfriend of this good luck. He wants to wait five years, but forget that even if we gotta buy a raggedy starter home, I want out this noisy ass apartment
Hey if you want a good loan and want to get out of the city,try a USDA rural development loan ! You have to live in the county,it's great call USDA in your city! Good luck❤
Mr. Walter, I have a genuine question. I’ve been wanting to buy a house for a while now. My credit is good, and I don’t have any outstanding debt, but as a single woman, I’ve always thought homeownership was more for families. I’ve considered a townhouse, but I’m hesitant because I don’t want all the responsibility to fall solely on me. My question is, should I still pursue homeownership even though I’m currently single? I watched your video on homeownership as a single person, and I took your advice to heart.
You are correct. The word out there is renting is better because the cost of insurance, taxes and maintenance. I disagree. As a renter, you get no equity. In a disaster, you have no equity to borrow against. The line was,"you will own nothing and like it." Theyve been working consistently to make people believe it. Smh
My brother moved in with me. He was paying crazy rent in Denver, Colorado. I showed him a piece of paper that stated a home-buying seminar with home assistance available. He glanced at the paper, walked away, and was still talking about renting. I did my part😑
I’ve been a homeowner for 2 years. It does cost a lot more. I’m paying about $2,900/mo for my mortgage, compared to when I rented it was about $1,500 for my one bedroom apartment. Just have to look at your options and what you can afford.
Make sure you have a 3-6 months of expenses saved and an emergency fund before purchasing a home. Phantom costs and repairs will put you in the poorhouse, and no, inspectors do not find every flaw or needed repair before you purchase. Educate yourself thoroughly before financing a home. Im still moving up in my career and want to be able to move around to higher paying positions when the opportunity arises, so I am not buying right now. I am investing heavily into my retirement account and saving up my down-payment. I already have a healthy emergency fund saved up.
I became a homeowner in 2007 at age 28 fixed rate in a very nice subdivision, my home was only 4 years old at the time when I bought it. I am now 45, and I'm still in my home, it will be 18 years in May, 2025. When I bought my home, by me being a first time homeowner at that time, they ( the bank ) told me about the first time homeowner program that helped me to become a homeowner. The sellers paid my entire closing cost, and I offered the sellers the total amount that they wanted for the sale of the home. I grew up in a home that my parents are homeowners, they taught me homeownership is very beneficial, and it is, I wouldn't have it any other way!!!
Some people don't know these things. They don't understand that there is help out there. No one is telling them this, and they might not have the knowledge to seek it out.
Depending on where you are, it can be difficult to qualify for a mortgage in the 1st place especially if you are poor and credit is messed up. But I do agree with your overall point.
@@richj6159does everybody living in Chicago? No. If you have a home n it’s working for you good. You’re mad hostile twds ppl you don’t even know lol weirdo
Hey Walter I’m listening to you with my earbuds in at work. I like these real estate topics because I want to create a playlist so I can come back and listen whenever I want to. Can you please do more videos like this ? I think more of us black men need to hear this especially those of us who actually want to do something with the information that you’re putting out. Please and thank you
Good advice as usual,Walter❤👏🏾. Agree where there’s a will,there’s a way. Guy I know w/bad credit & a prison record is a homeowner after he found someone who agreed to let him rent to own❤👍🏾
Damn 8 kids & 2 adults in A hotel. not to sound like A judge mental person, But That young man needs to get up and grind ASAP in his life. By first getting stacking some MONEY, get his CREDIT together, So He can buy A home for his family. Maybe think about getting A vasectomy because children aren't CHEAP and can lead to more POVERTY. GA is A state with a lot of resources to help people get into homes, My cousin and her children got A house in Pooler, GA 4yrs ago.
Buying a house isn’t always the best option. There are many factors to consider outside of controlling what you’ll pay per month. I agree it’s a good thing to do (for some)but I’m tired of this mentality that renting is worst than buying for everyone. It just depends on what your long term goals are and how you wish to retire and the other areas you are investing your money.
@Jtrippjr Exactly!! This comments section is one big echo chamber. A lot of these people who are posting comments are not being sincere which is infuriating!! I suspect that a lot of these comments may be bots, because everybody I know outside of TH-cam who "owns" property are telling me be careful if I make the decision to purchase a home.
Good point sir!!! You can't just look at home ownership from one dimensional of just paying my monthly mortgage. Maintenance is just as important paying mortgage every month. People go to 5-10 years not doing any Maintenance on there house. Smh.
@@JayTWrites renting is a luxury for wealthy people. Everyday middle to low income people need to purchase a home. 🏠 and pay it off. There are So many programs to Assist low income people. With low interest rates. Short loan terms. Buying is the best option. But you will pay it off and own it renting you will never own it
@@WalterLeeHamptonII That's an opinion of yours, Walter. There are studies that equally show the benefits of renting as well as the benefits of buying. As a home builder, you know that buying a house isn't just simply paying the mortgage. Things break, tear up, all types of stuff happen to which a truly poor person is not going to be able to manage. I've seen it happen time and time again where I'm from in Macon. The house is paid off in 30 years but in such disrepair because the homeowner couldn't afford to maintain it and then end up selling the house at a loss or the house gets condemned and they can't stay in it anyway. IJS, buying is not the solution for everyone. I think people should buy a house when it's within their means to do so but I would not say to all poor people they need to buy a house because buying a house is more than just getting it and maintaining the mortgage. Renting vs buying depends on the lifestyle you want to have and one's long-term goals, and not on whether you are wealthy or poor. Being a gay man myself with no offspring, I personally don't see the need to buy a house. The only thing that would make me want to buy one is being able to control housing costs over a period of time.
It’s crazy how right Walter is I decided to buy a house after renting for years I was homeless before living in homeless shelters family meme we couches hotels motels even in a car with an abusive ex boyfriend those two years I fixed my credit saved moved up in the job and did my research on home buying process programs grants etc
This message is right on time for me today!!! Did y’all know you can get served eviction papers even if you have paid your rent ON TIME FOR YEARRRRSSSS!!! Listen to Walter.
People fail to realize that renting you can move anywhere on a whim where owning its a long process to sell the home. The luxury is being able to move around and not worry about maintenance. Whereas owning a home youre stuck in one location and have to do the upkeep yourself. People act as if owning is the luxury causing house prices to be all out of whack.
I and countless other homeowners have moved and just rented our homes out until they sell. It's not that difficult, especially when letting a property management company handle everything. Often you'll get in rent more than what you're paying on the mortgage every month.
You can't just leave a rented property on a whim when you're locked into a lease. However, I have packed up a house on a whim and left the keys with a property manager to rent out. You're actually much more mobile as an owner not to mention the financial stability of being backed by equity.
@@dree2295 hiring a property manager making sure you make a profit or break even on a house you have a mortgage on sounds alot more complex than just moving out. I think alot of people would prefer to just rent especially if they move around alot. I get you're side though there's advantages and disadvantages to both decisions
Great video I think you hit all the important things. People will always show you who they are, and you must believe them, especially when they are consistent in their behavior
Easier said than done. Most people don't meet the income requirements to even get approved for a mortgage. There's bigger issues here than just "if you poor buy a house".
@@nopereradicatorOk?!! Say that again. Even some undocumented folks come here and find ways to buy homes, but people who were born and raised here want to make excuses. Please!!
Yes apartments are "raggedy " now a days. Many of them need renovations and are old deteriorating buildings. You couldn't pay me to rent an apartment in this day and age
Exactly Walter, there’s so many programs out here. And people don’t need a mansion to start off with. A good starter home exists. Condos…Townhomes, etc.
Yes they do Walter, All types of programs for people that's making average money. I am on my to buy me a 2 flat. I am in the talking with some lenders now. I been watching you for a while now and you are part of the reason I am moving forward. Your family not listening to you, but I am. Thank You
Thank you for sharing some common sense wisdom! Nothing beats owning a home, people do not realize that in the long run it’s less expensive than renting.
@WalterLeeHampton. Exactly most cities have no down payment loans they are practically giving away homes!USDA is one of them,but you have to live outside the city limit? It's in all fifty states!
@13ikea When me and my husband bought our first home many years ago, we used our down payment money to pay down the interest rate, and the first home buyer's program made it so that we did not need a down payment.
Continue to rent until you save enough to buy a house OUTRIGHT, not put down a down payment. Because unless you've bought a house outright, then you're basically still renting; but not from a landlord but instead from a lender. Unless you've paid cash for the house then you still don't own it. The bank owns your house, and you're just paying back the bank every month.
Walter, you are absolutely correct. You have more options as a homeowner when it goes left. Your lender will work with you. I was laid off in March 2024 and I was to apply for a COVID grant to have my mortgage paid for 6 months and it was the easiest thing I’ve ever done. There are programs out there, more than you’ll ever get with being renter. I was hired for a new role 2 weeks ago, after my unemployment ended. There are resources out there, too many to name.
YES ! You're right I was actually thinking about this and I'm glad you made a video about it. I plan on getting a home next. A starter home. I hear people are paying $2k in rent and home owners are paying maybe $500 in mortgage a month. I was just afraid of the cost of maintenance for a house.
I owned a home for 8 yrs Walter and it was a fixer upper. It wasn't in a very good neighborhood but luckily the neighbors looked out for each other and had lived there for many years. I feel like with fixer uppers there's more money being put into the home than what you actually pay for it. Unfortunately my home went into foreclosure due to some financial issues. I rent now but don't plan to much longer. I wouldn't mind owning my own home again. I'll do more research on habitat for humanity because that's an excellent idea.
I’m trying to pay this mortgage off as soon as possible cause it’s about to get ROUGH in America post 2024. I hope we survive all the drastic changes we are about to endure.
Bought a house and the Mortgage is definitely cheaper than the rent.😁 Having bad credit is something that keeps people from buying a home.😒 Hey Walter! Get the ZEVO Flying insect traps, they’re helpful. Thanks for sharing! Have a great day!!👍🏾
Don't assume you don't qualify for a mortgage; especially if you don't have a lot of debt. You probably qualify for assistance programs. Never assume you don't qualify for something; apply and let THEM tell you you don't qualify. I woke up about the reality of renting after I got into it with the property manager at my building then got a notice that my lease wasn't being renewed. I wasn't eligible for mortgage assistance because I made too much at the time but buying a home was one of the best decisions I ever made.
As people WE DO HAVE THAT ULTIMATE RESPONSIBILITY IN OUR OWN INDIVIDUAL LIVES ONCE WE GO OUT INTO THE WORLD AND THAT IS TO NOT LET ANYONE OR ANYTHING TURN US INTO A CRIPPLE!!!!! Becoming too comfortable in any situation can be detrimental to us as a people. We fail ourselves with guilt and sorrow bc we just give up sometimes bc it takes us much, much, much longer to succeed in our undertakings in any profession.
You know what gets people the most--THAT LEVEL OF COMFORT OF WORKING OT, THINKING IT WILL ALWAYS BE THERE. ALSO CONSTANTLY BUYING THINGS THAT WE KNOW DONT NEED JUST TO FEEL BETTER ABOUT NOT HAVING THE BIGGER THINGS WE SHOULD HAVE AT A CERTAIN TIME IN OUR LIVES.
I have family that was living in a hotel as well. That brought them together to pull their money together (at almost 60 mind you) They are still renting an apartment now but they are in the NACA program so hopefully they end up with a home.
Can you explain why you like paying taxes separate from mortgage? I didn’t even think I had an option to take mine out of escrow and pay it independent of the mortgage. Got me thinking now
Walter that Venezuelan got his house not just from hard work. He got assistance from the government. It's well documented that these immigrants get financial assistance and give the illusion that it's just hard work!
That’s bullshit. He paid cash. THAT HE WORKED HARD TO EARN!!!!! No help from no one!!! Quit telling that lie the government is giving immigrants any money to buy a house. That a well documented myth.
@WalterLeeHamptonII maybe you're living in a bubble and/or denial like you normally do when it comes to politics and immigration subjects. IT IS A KNOWN DAMN FACT THAT REFUGEES FROM CENTRAL AMERICA ARE GETTING DEBIT CARDS FOR FOOD, PURCHASE VEHICLES AND HOUSING WALTER FROM THE GOV'T! I mean really dude?! If you really believe your contractor really worked soooo hard without any assistance, you need to stay off the steroids. I think it's clouding your ridiculous opinion. Hell, the government won't even help your family..but they will assist immants..smh
@@WalterLeeHamptonIIthats true Uncle Walter but I bet he is not paying TAXES!!! Now dont get me wrong they do what they gotta do and WE/US as Blacks in America need to start purchasing these fixer uppers and getting them renovated. A Hispanic just quoted my son today 5,000 cash to redo his bath and kitchen, he was talking through google translate, we gotta stop with the excuses
This is a very positive video. You guys better get into what this man is saying. Even if you don’t qualify for habitat. You can buy a fixer upper and buy supplies form habitat. I had on one pallet 32k dollars of doors. French doors. Paid $15 a piece from habitat. I wore them out but for my house. Insane to go in there. Scare they will have the police up in there I got sick good deals. I’m serious
You are so right.... Rent in Atlanta and other large cities is 3k to 5k per month..... The younger, the better no matter where it is bc it will always be home......
Idk i have to continously buy things for my house, roof, appliances, door, cutting trees, but my daughter's rent for her small apartment is way more than my big house. So pros and cons
That’s like when you need to do a hardship withdrawal for your retirement plans to avoid fees they excuse people who are facing foreclosure. There’s nothing there that benefits renters.
Actually depending on your retirement plan you can also take out a hardship withdrawal for rent. The federal taxes can be deffered or you can have them taking out of the withdrawal which is usually 10%.
@@debo6012they working hard😂😂 real talk the Mexican man just told my son today 5,000 cash to redo his bathroom and kitchen. He translating on his phone app. Its three of them working. I told my son they about to save it up and buy a house in cash, rinse and repeat. Give him 10 years he gone be very well off
I bought my home as a single parent with three kids I was late many times but they work with you best decision ever it was not the greatest area but I have a lot of equity I told sisters YEARS ago to buy a home they had move out of the last apartment and now have to move from the current one and one of them is a amputee… sad but you just can’t get through to some people
My mortgage was paid off 13 years ago( MORTGAGE FREE). No credit card debt either.
Congratulations 🎊
@@kimclark3 love it. Congratulations. My husband and I are currently on the same mission.
You are winning across the board‼️🙏🏿 Working on knocking my mortgage down. That credit card debt that I currently have is top priority, once I get that out the way, everything else gone be smooth sailing......
Very smart woman. I sold a rental to finish paying off my home. The sooner the better. I still pay house note to my bank account and use that money to travel the world. I've been to every country I desired now I'm repeating the places I enjoyed the most. Paying off your home is so sweet. 😊
🎉🎉
My sister got her a habitat home in Atlanta. The home was built from the ground ten years ago she still has thar home for her and her 4 children. She went from being homeless with 4 kids to getting into the habitat of humanity program, and she now has a home built from the ground. Now she is a deputy sheriff in Fulton County. We're so proud of her.
That's a beautiful testimony 🙏. Your sis is blessed
Umm...how else is it supposed to built? It's gotta be built from the ground. Try building a house starting from the sky and see how that works...😂😂😂😂
@@mrstevejackson100 🤣🤣🤣😁
Where’s the father?
@mrstevejackson100 Exactly, I don't understand why some people say that, all homes are built from the ground up. Now if her sister bought a brand new home that no one ever lived in, she is the first home owner of that home, it makes sense just to say that.
Man I'm glad I had the fortitude 7 years ago to purchase my two bedroom townhome now my mortgage is most people's car payment best thing I've ever done for myself me and my boys. Hello
Do you have an HOA?
@@Laoriginal718 no that's why I bought it
Apartment=eviction in 30 days.
House=eviction in 2 years.
Need I say more?
I know someone who stayed in their home 10 years!!
Yes and true, I worked for a foreclosure law firm for 16 years.
Most people can’t afford a house.
@@markoushayes2233 I worked at a foreclosure law firm too back in the day! You're correct. Foreclosure is a LONG process that can be delayed multiple times
Why is eviction a consideration?
Weed and alcohol is out here killin a lot of hopes-dreams and desires. It’s really sad.
When all you got in life is poverty and your only “asset” is a bunch of destitute kids running around you got to numb your sorrows of life somehow.
Yup
Ain't that the truth!!!
Facts upon facts
Exactly!
House or apartment, I'm just grateful for each day that I can simply say I have a roof over my head.
🎯✅️💯 EXACTLY.
My 23 year old son works for a major car manufacturing company in Alabama. He bought a house. The best decision a young man could make . I’m proud of him.
I purchased my first home at 23 years of age.
Oh yes I used to work for the Department of Corrections and do assessments on the inmates. There are few of these inmates that have managed to gather whatever resources that they have accumulated while incarcerated and buy themselves some property while incarcerated so once they are released they have a place to go and lay their heads and might I add, these homes are paid for free and clear.
That's amazing! God bless them ❤
Do you care how they obtain those homes? Just wonderng if it was via a county tax sale.
I agree Walter, I bought my house in Nov 2021 when interest rates were low and since I was a 1st time homebuyer I had down payment assistance. At closing they paid for everything. All I brought was a $400 cashiers check.
Congratulations. 💯 Very smart. You took the leap and succeeded
@@grovedwayne390 Ty!
My grandma left me and my mom 2 acres with a house in disrepair. After she passed I've paid taxes. After 5 years of staying in an apartment and paying taxes I moved. Rent became ridiculous. I'm going to put a tiny home the size of a 1 bedroom on the property. If you have little money just get a piece of land and go from there
Get a trailer
Wanna sell me an acre?
@@Tab1975It depends which part of the country you are in. Here in the Tampa area, we just had two hurricanes. Trailers are NOT recommended here.
Bought my home at 22 BEST DECISION i ever made❤.
Thank you, I listen to my mom, when my credit was good to buy a condo. That kept me in affordability and stability
👏🏾👏🏾👏🏾👏🏾 I’m not living in poverty but I no longer feel the need to rent, especially with rent rising yearly. Doesn’t make logical sense for my situation.
I’ve started the process of purchasing!
That’s the way to do it!
People don't want to go through the programs because these programs hold you accountable. They make you take classes on homeownership personal finance etc. they put you on the budget tell you how much money needs to be saved every month. When something requires legwork people don't want to do it but when something's free everyone's in line. some people would rather go without than to have to do things right.
A lot of people dont want the responsibility of owning a house🤷🏾♀ and owning a home DEMANDS stability....you cant abandon a home🤷🏾♀ but a lot of people will run from their home to follow a dream in a heartbeat 🤷🏾♀😳
I’m a realtor. I totally agree. And not just because I’m a real estate professional but I see the difference in life outcomes from my sphere who OWNS!
It's a mindset shift. I notice my attitude shifted and was prioritizing and more serious about investing into my future. Buying a home gives a sense of putting down roots and it guides longtermn decisions
Your real estate knowledge and expertise is needed for those who dont even know how to start the process.
This is so true!!! A home has payment control! If anything happens you get payment assistance! Most states have downpayment assistance to buy! I have purchased 2 homes already with pennies out of pocket! Its literally the only security we have!
Periodttttt!!! I put pressure on myself in my early 20s and I did it 2x. If I had children I would work 3 jobs to make sure my kids would have a home with a yard. Next step I want to purchase a cottage on an island or Mexico. No weed going to hold me back lol
This is something needed to hear across the country. Especially when you have stories about 3 companies owning 19,000 homes in Atl.
Agree, the best decision I made buying a house at 34. I can’t buy a house now compatible to mine for what I paid for this one
The problem is people buy homes and then are not positioned financially to maintain them or handle repairs. My friend's brother and his wife spent the entire summer in their house sweltering because they couldn't get the $6,000 together to get the AC unit fixed. They were in no way ready to. own a home. People need to stop being shamed into buying homes. If you want to fine, but if you don't that's fine too. Doing that when you are not financially settled can be a disaster and cause issues for years.
They stupid. There are low interest loans ( or FREE assistance ) to replace heating and air units available to everyone
Some people just stupid.
@@WalterLeeHamptonII They tried that and got denied. His credit and finances are not in the best order, which is why he didn't need to buy that home.
@@WalterLeeHamptonIIyes Walter I been in my home ten years,I qualified for weatherization,it's in every state they replaced my heating,and air system when it went bad! They also repair roofs and replace windows! When your income is low that is the best time to qualify for weatherization!Tax dollars at work!happy in my home for ten years,!❤
All free no charge!
You’re so right Walter! There’s a tax for being poor and/or financially irresponsible. They pay on the back end with higher interest rates, late fees, reconnection fees, etc. Some of them don’t realize that the money they think they don’t have is actually there being wasted.
I've been looking to buy a home for me and mine lately. This is my sign to get it going.
You. Can. Do. It.
Buying a house is one of the best decisions I’ve made!
That is true I hear if you cannot afford to rent then it is best to get a home, the only problem is some people cannot afford a home and maintaining it could cost much, so there is pros and cons to owning a home.
@bosslady6198 Agreed!! Even if you buy the house and pay off the mortgage, you still have property taxes, home insurance, and maintenance. Also, property taxes are proof that you will never actually own the home.
@@ronaldedwards5001 Facts Facts Facts!!! Keep it 💯
My taxes and insurance are in escrow but now that it went up, I want to just pay it on my own because I like my mortgage payment to stay the same.
@@ibuymyownroses ask your mortgage company about removing the escrows.
At this stage owning a home or condo would be too expensive for me because I live in a big city. I’m better off renting until I can relocate to a state with a lower cost of living.
They got cheap condos every where
@@WalterLeeHamptonII Not out here in LA
Don't come to Connecticut at all. The property taxes will kill you.
@@WalterLeeHamptonIIwhat about the rollercoater ride of hoh fees
u spoke a out that in another video
If you are in southern California Victorville apple valley is the place to be for a lower rent or home buying
Built my house in 2016 for 194k 2.5% interest. As of now Appraised at 465k
yep, Houston is booming. Great job Htowngal 👍
That’s crazy I was just looking at the Homes app and trying to come up with a savings plan, and you post this!! Talk about a sign!! I rented for 2 yrs and (I was given the luxury to) came back on home, that 2yrs I wasted on rent I really could’ve been saving. Loud neighbors, I could smell their smoke coming thru my walls, roaches…it’s just not for me. Im happy I got to exp it in my 20s but it’s really overrated. I’d rather help my parents and pay rent to them, which, in comparison, is less than I was paying for that little shoe box, and save up for a home.
You are absolutely right! I bought my first house at 23 years old single and sold it when I retired at 46 😊… buying assets is the best investment for yourself and if you have a family.
Ohhh... what a point "Wealthy people should rent. Poor people need to buy a house...." AGREED. I AGREE with every point surrounding home ownership, and frankly, I'd say that goes for middle-class families too... BUY A HOUSE versus renting... and it's not as though the house has to be anything luxurious or be anything that you have to buy just to show off to people. You can make any house look beautiful... just buy one.
People need to get it together. ASAP!
Get a gallon of apple cider vinegar, and put cups of it by ur kitchen sink. They like the smell and will drown themselves. Place a few cups around the house. It really works. I had that issue over the summer.
My 27 year old niece bought a 3 bedroom/ brick house off auction 4 years ago.. It was tore up, but she finally got together. When she lost her job, she didn't have rent to pay, but the thaw fund helped her with her utilities, til she went back to work.
There's a lot of options out there.
Guys yall better listen . People who rent out properties especially apartments are crazy how they treat people. I have two houses on an acre of land. I get phones calls and notes on my property. The answer is always no. No . I don’t want to sell
Living in this apartment is a nightmare because of our neighbors the floors feel like a earthquake shaking fat kids playing and stomping rocking our bed making it hard to sleep. I’d love to buy a house next year, convincing my boyfriend of this good luck. He wants to wait five years, but forget that even if we gotta buy a raggedy starter home, I want out this noisy ass apartment
Hey if you want a good loan and want to get out of the city,try a USDA rural development loan ! You have to live in the county,it's great call USDA in your city! Good luck❤
I just bought a house in Southern California. Was able to get a 30yr fixed rate under 5% . Was able to get closing cost from the seller
That's atleast a million
@@CGarrett nah under 500k
You doing good Walter! It took me six weeks to be pain-free.
Mr. Walter, I have a genuine question. I’ve been wanting to buy a house for a while now. My credit is good, and I don’t have any outstanding debt, but as a single woman, I’ve always thought homeownership was more for families. I’ve considered a townhouse, but I’m hesitant because I don’t want all the responsibility to fall solely on me. My question is, should I still pursue homeownership even though I’m currently single? I watched your video on homeownership as a single person, and I took your advice to heart.
It’s best you buy a home. In the long run it’s better for you financially
@@Thatgirlcherrybomb I’m single as well. And bought my home in 2021
You are correct. The word out there is renting is better because the cost of insurance, taxes and maintenance. I disagree. As a renter, you get no equity. In a disaster, you have no equity to borrow against. The line was,"you will own nothing and like it." Theyve been working consistently to make people believe it. Smh
My brother moved in with me. He was paying crazy rent in Denver, Colorado. I showed him a piece of paper that stated a home-buying seminar with home assistance available. He glanced at the paper, walked away, and was still talking about renting. I did my part😑
@@yvonneoy3124 push him harder. Take him to the meeting
I’ve been a homeowner for 2 years. It does cost a lot more. I’m paying about $2,900/mo for my mortgage, compared to when I rented it was about $1,500 for my one bedroom apartment. Just have to look at your options and what you can afford.
Baby! When u tell you THIS is what my parents have been teaching me
Make sure you have a 3-6 months of expenses saved and an emergency fund before purchasing a home. Phantom costs and repairs will put you in the poorhouse, and no, inspectors do not find every flaw or needed repair before you purchase. Educate yourself thoroughly before financing a home. Im still moving up in my career and want to be able to move around to higher paying positions when the opportunity arises, so I am not buying right now. I am investing heavily into my retirement account and saving up my down-payment. I already have a healthy emergency fund saved up.
@@FTYC2022 are you renting ? Right now?
I became a homeowner in 2007 at age 28 fixed rate in a very nice subdivision, my home was only 4 years old at the time when I bought it. I am now 45, and I'm still in my home, it will be 18 years in May, 2025. When I bought my home, by me being a first time homeowner at that time, they ( the bank ) told me about the first time homeowner program that helped me to become a homeowner. The sellers paid my entire closing cost, and I offered the sellers the total amount that they wanted for the sale of the home. I grew up in a home that my parents are homeowners, they taught me homeownership is very beneficial, and it is, I wouldn't have it any other way!!!
You made the right decision!
Some people don't know these things. They don't understand that there is help out there. No one is telling them this, and they might not have the knowledge to seek it out.
Depending on where you are, it can be difficult to qualify for a mortgage in the 1st place especially if you are poor and credit is messed up. But I do agree with your overall point.
That’s just excuses, I bought house here in Chicago fix your own credit save your money.
@@richj6159 Agreed yes. You should try to get your finances stable by age 35 at least.
@@richj6159does everybody living in Chicago? No. If you have a home n it’s working for you good. You’re mad hostile twds ppl you don’t even know lol weirdo
@@kevinalleyne361 25.
Hey Walter I’m listening to you with my earbuds in at work. I like these real estate topics because I want to create a playlist so I can come back and listen whenever I want to. Can you please do more videos like this ? I think more of us black men need to hear this especially those of us who actually want to do something with the information that you’re putting out. Please and thank you
Cosigned and Agreed. Leave your children generation wealth instead of generation trauma/debts.
Confirmation ❤ I’m 58 and currently renting a house. I have owned a house before but sold it after divorce. You’re right though Walter.
Go buy another one
I’m working on it. 😊
Please don't buy a condo. Plz don't
@@StLDFW I surely was thinking about a condo or Townhome too. Why do you suggest no condo?
@@XFedgal Good to know. Thanks
Good advice as usual,Walter❤👏🏾. Agree where there’s a will,there’s a way. Guy I know w/bad credit & a prison record is a homeowner after he found someone who agreed to let him rent to own❤👍🏾
Damn 8 kids & 2 adults in A hotel.
not to sound like A judge mental person, But That young man needs to get up and grind ASAP in his life. By first getting stacking some MONEY, get his CREDIT together, So He can buy A home for his family.
Maybe think about getting A vasectomy because children aren't CHEAP and can lead to more POVERTY.
GA is A state with a lot of resources to help people get into homes, My cousin and her children got A house in Pooler, GA 4yrs ago.
A house! Water Bill, untimely repairs needed at any given moment. Yep, I am a renter.
I'm renter too!!! I don't wanna take on mortgage by myself and other things that come with home ownership.
@@pretoriaafro5074 one day your home can be paid for.
You are totally correct. Wish I could like this ten times. Homeownership is better than renting.
Buying a house isn’t always the best option. There are many factors to consider outside of controlling what you’ll pay per month. I agree it’s a good thing to do (for some)but I’m tired of this mentality that renting is worst than buying for everyone. It just depends on what your long term goals are and how you wish to retire and the other areas you are investing your money.
@Jtrippjr Exactly!! This comments section is one big echo chamber. A lot of these people who are posting comments are not being sincere which is infuriating!! I suspect that a lot of these comments may be bots, because everybody I know outside of TH-cam who "owns" property are telling me be careful if I make the decision to purchase a home.
Good point sir!!! You can't just look at home ownership from one dimensional of just paying my monthly mortgage. Maintenance is just as important paying mortgage every month. People go to 5-10 years not doing any Maintenance on there house. Smh.
@@JayTWrites renting is a luxury for wealthy people. Everyday middle to low income people need to purchase a home. 🏠 and pay it off.
There are So many programs to Assist low income people. With low interest rates. Short loan terms. Buying is the best option. But you will pay it off and own it renting you will never own it
@@WalterLeeHamptonII That's an opinion of yours, Walter. There are studies that equally show the benefits of renting as well as the benefits of buying. As a home builder, you know that buying a house isn't just simply paying the mortgage. Things break, tear up, all types of stuff happen to which a truly poor person is not going to be able to manage. I've seen it happen time and time again where I'm from in Macon. The house is paid off in 30 years but in such disrepair because the homeowner couldn't afford to maintain it and then end up selling the house at a loss or the house gets condemned and they can't stay in it anyway. IJS, buying is not the solution for everyone. I think people should buy a house when it's within their means to do so but I would not say to all poor people they need to buy a house because buying a house is more than just getting it and maintaining the mortgage. Renting vs buying depends on the lifestyle you want to have and one's long-term goals, and not on whether you are wealthy or poor. Being a gay man myself with no offspring, I personally don't see the need to buy a house. The only thing that would make me want to buy one is being able to control housing costs over a period of time.
It’s crazy how right Walter is I decided to buy a house after renting for years I was homeless before living in homeless shelters family meme we couches hotels motels even in a car with an abusive ex boyfriend those two years I fixed my credit saved moved up in the job and did my research on home buying process programs grants etc
This message is right on time for me today!!! Did y’all know you can get served eviction papers even if you have paid your rent ON TIME FOR YEARRRRSSSS!!! Listen to Walter.
People fail to realize that renting you can move anywhere on a whim where owning its a long process to sell the home. The luxury is being able to move around and not worry about maintenance. Whereas owning a home youre stuck in one location and have to do the upkeep yourself. People act as if owning is the luxury causing house prices to be all out of whack.
I and countless other homeowners have moved and just rented our homes out until they sell. It's not that difficult, especially when letting a property management company handle everything. Often you'll get in rent more than what you're paying on the mortgage every month.
You can't just leave a rented property on a whim when you're locked into a lease. However, I have packed up a house on a whim and left the keys with a property manager to rent out. You're actually much more mobile as an owner not to mention the financial stability of being backed by equity.
@@th3livinglegend alot of leases go month to month after the initial year so in that situation its pretty easy but I get what you're saying
@@dree2295 hiring a property manager making sure you make a profit or break even on a house you have a mortgage on sounds alot more complex than just moving out. I think alot of people would prefer to just rent especially if they move around alot. I get you're side though there's advantages and disadvantages to both decisions
@@Enation92 I prefer for them to rent too. Those people are funding my retirement.
Amen Walter because rent keeps going up mortgage payments stay affordable if you're not in a house above your means.
Great video I think you hit all the important things. People will always show you who they are, and you must believe them, especially when they are consistent in their behavior
I needed to hear this video.
I feel like in Illinois. Property tax is so high. It’s better to rent now days !!!
Chicagoland is ridiculous when it comes to it.
Come to MI!!!!😂😂😂
Easier said than done. Most people don't meet the income requirements to even get approved for a mortgage. There's bigger issues here than just "if you poor buy a house".
That’s not true.
This is America. There’s ways to get ANYTHING and EVERYTHING done.
@@WalterLeeHamptonIIright Walter USDA loans cater to the poor,you can get homes built with them condos also?
@@nopereradicatorOk?!! Say that again. Even some undocumented folks come here and find ways to buy homes, but people who were born and raised here want to make excuses. Please!!
@@GiselleX Anyone can buy a house there are all types of programs!!!
Yup! As soon as I move to Charlotte,NC I’m getting a house built. No games.
Yes apartments are "raggedy " now a days. Many of them need renovations and are old deteriorating buildings. You couldn't pay me to rent an apartment in this day and age
Never ending
Experience with excitement for everything yet nothing
Thankful Always
Exactly Walter, there’s so many programs out here. And people don’t need a mansion to start off with. A good starter home exists. Condos…Townhomes, etc.
Yes they do Walter, All types of programs for people that's making average money. I am on my to buy me a 2 flat. I am in the talking with some lenders now. I been watching you for a while now and you are part of the reason I am moving forward. Your family not listening to you, but I am. Thank You
Thank you for sharing some common sense wisdom! Nothing beats owning a home, people do not realize that in the long run it’s less expensive than renting.
I’ll continue to rent until I save enough for a down payment. Not going to be house poor!
You don’t need a down payment.
@WalterLeeHampton. Exactly most cities have no down payment loans they are practically giving away homes!USDA is one of them,but you have to live outside the city limit? It's in all fifty states!
@13ikea When me and my husband bought our first home many years ago, we used our down payment money to pay down the interest rate, and the first home buyer's program made it so that we did not need a down payment.
Continue to rent until you save enough to buy a house OUTRIGHT, not put down a down payment. Because unless you've bought a house outright, then you're basically still renting; but not from a landlord but instead from a lender. Unless you've paid cash for the house then you still don't own it. The bank owns your house, and you're just paying back the bank every month.
@@Super-c00n nonsense. If you can save cash like that. Then you can double and triple your payments. To pay your home off faster
NACA can help you get a house anywhere in the U.S
Walter, you are absolutely correct. You have more options as a homeowner when it goes left. Your lender will work with you. I was laid off in March 2024 and I was to apply for a COVID grant to have my mortgage paid for 6 months and it was the easiest thing I’ve ever done. There are programs out there, more than you’ll ever get with being renter. I was hired for a new role 2 weeks ago, after my unemployment ended. There are resources out there, too many to name.
I double my payment’s in my lovely habitat home
I Love those homes!
YES ! You're right I was actually thinking about this and I'm glad you made a video about it. I plan on getting a home next. A starter home. I hear people are paying $2k in rent and home owners are paying maybe $500 in mortgage a month. I was just afraid of the cost of maintenance for a house.
I owned a home for 8 yrs Walter and it was a fixer upper. It wasn't in a very good neighborhood but luckily the neighbors looked out for each other and had lived there for many years. I feel like with fixer uppers there's more money being put into the home than what you actually pay for it. Unfortunately my home went into foreclosure due to some financial issues. I rent now but don't plan to much longer. I wouldn't mind owning my own home again. I'll do more research on habitat for humanity because that's an excellent idea.
GOOGLE NACA..THATS THE PROGRAM 4 U
A home is best "rent" control you can get! Your income increases over the years while your fixed mortgage remains same for 15-30yrs!
yes thats true!!
I’m trying to pay this mortgage off as soon as possible cause it’s about to get ROUGH in America post 2024.
I hope we survive all the drastic changes we are about to endure.
Bought a house and the Mortgage is definitely cheaper than the rent.😁 Having bad credit is something that keeps people from buying a home.😒
Hey Walter! Get the ZEVO Flying insect traps, they’re helpful.
Thanks for sharing! Have a great day!!👍🏾
Outstanding commentary..🙌🏼👍👏🏼
Don't assume you don't qualify for a mortgage; especially if you don't have a lot of debt. You probably qualify for assistance programs. Never assume you don't qualify for something; apply and let THEM tell you you don't qualify. I woke up about the reality of renting after I got into it with the property manager at my building then got a notice that my lease wasn't being renewed. I wasn't eligible for mortgage assistance because I made too much at the time but buying a home was one of the best decisions I ever made.
I just want a big hug from him.
My mortgage & HOA fees are less than paying $500 a week for a hotel. Unbelievable
As people WE DO HAVE THAT ULTIMATE RESPONSIBILITY IN OUR OWN INDIVIDUAL LIVES ONCE WE GO OUT INTO THE WORLD AND THAT IS TO NOT LET ANYONE OR ANYTHING TURN US INTO A CRIPPLE!!!!! Becoming too comfortable in any situation can be detrimental to us as a people. We fail ourselves with guilt and sorrow bc we just give up sometimes bc it takes us much, much, much longer to succeed in our undertakings in any profession.
Amen, brother!!!!
You know what gets people the most--THAT LEVEL OF COMFORT OF WORKING OT, THINKING IT WILL ALWAYS BE THERE. ALSO CONSTANTLY BUYING THINGS THAT WE KNOW DONT NEED JUST TO FEEL BETTER ABOUT NOT HAVING THE BIGGER THINGS WE SHOULD HAVE AT A CERTAIN TIME IN OUR LIVES.
*Walter tell all the family business--- I know they can't stand him* 😂😂😂
I have family that was living in a hotel as well. That brought them together to pull their money together (at almost 60 mind you) They are still renting an apartment now but they are in the NACA program so hopefully they end up with a home.
Yes ! 🙌 get a home even if a manufacturer guys .. on ur land or lot .. moving suck
Can you explain why you like paying taxes separate from mortgage? I didn’t even think I had an option to take mine out of escrow and pay it independent of the mortgage. Got me thinking now
why let the mortgage company collect that interest from you? save your own money and pay your own taxes.
Walter that Venezuelan got his house not just from hard work. He got assistance from the government. It's well documented that these immigrants get financial assistance and give the illusion that it's just hard work!
That’s bullshit. He paid cash. THAT HE WORKED HARD TO EARN!!!!! No help from no one!!! Quit telling that lie the government is giving immigrants any money to buy a house. That a well documented myth.
@WalterLeeHamptonII maybe you're living in a bubble and/or denial like you normally do when it comes to politics and immigration subjects. IT IS A KNOWN DAMN FACT THAT REFUGEES FROM CENTRAL AMERICA ARE GETTING DEBIT CARDS FOR FOOD, PURCHASE VEHICLES AND HOUSING WALTER FROM THE GOV'T! I mean really dude?! If you really believe your contractor really worked soooo hard without any assistance, you need to stay off the steroids. I think it's clouding your ridiculous opinion. Hell, the government won't even help your family..but they will assist immants..smh
@@WalterLeeHamptonIIthats true Uncle Walter but I bet he is not paying TAXES!!! Now dont get me wrong they do what they gotta do and WE/US as Blacks in America need to start purchasing these fixer uppers and getting them renovated. A Hispanic just quoted my son today 5,000 cash to redo his bath and kitchen, he was talking through google translate, we gotta stop with the excuses
@@lgee9027 Millions of illegal immigrants file tax's ....research it.
This is a very positive video. You guys better get into what this man is saying. Even if you don’t qualify for habitat. You can buy a fixer upper and buy supplies form habitat. I had on one pallet 32k dollars of doors. French doors. Paid $15 a piece from habitat. I wore them out but for my house. Insane to go in there. Scare they will have the police up in there I got sick good deals. I’m serious
You are so right.... Rent in Atlanta and other large cities is 3k to 5k per month..... The younger, the better no matter where it is bc it will always be home......
Idk i have to continously buy things for my house, roof, appliances, door, cutting trees, but my daughter's rent for her small apartment is way more than my big house. So pros and cons
Owning a home makes more sense
Amen Walter Amen!!! But I do understand that some people's circumstances are different and places them in difficult situations
You just gotta show them how to do it. You gotta hold their hands lol
Walter i would pay for the information on how to buy a home if you have the information. I've been denied because of my credit
That’s like when you need to do a hardship withdrawal for your retirement plans to avoid fees they excuse people who are facing foreclosure. There’s nothing there that benefits renters.
Actually depending on your retirement plan you can also take out a hardship withdrawal for rent. The federal taxes can be deffered or you can have them taking out of the withdrawal which is usually 10%.
@@tashahall1855 well that’s good to know!
Just got here 2022 ,English as a second language .Bought a house already,I must shake his hand.
How?
@@debo6012Im assumig santuary city finacial built in support system which always adds up magically😢😢
@@debo6012Hard work and dedication....the immigrant way. It sounds like the man was on a mission.
@@debo6012they working hard😂😂 real talk the Mexican man just told my son today 5,000 cash to redo his bathroom and kitchen. He translating on his phone app. Its three of them working. I told my son they about to save it up and buy a house in cash, rinse and repeat. Give him 10 years he gone be very well off
@@GiselleX didn’t ask you I asked Tommy