We left America in 2016 and bought huge home for 50K in the Azores...debt free, grow our own foods, no stresses on keeping up with the material world...
@@TheCatoblepass I brought a flat last year, put 20k down and my mortgage is 250 a week, much better than renting your whole life, "Don't buy a house" is a dumb statement
@@TheCatoblepass he's probably about right, buying any property in the west will pretty much guarantee you a profit in 20 - 30 years, where renting gets you nothing lol
I used to own a small apartment building. Lived in one unit and rented the others out as I fixed them up. I sold the building after 3 years for a nice profit and regretted it for years (it cash flowed), until the C-bug hit and the eviction moratoriums hit in the US. I heard the new owner went under because he had tenets that didn't pay rent for two years and he couldn't evict them. You don't own a thing if a government can come in and effectively take it away from you.
@DiyNut Nope, wouldn't work in this case. Property was in a state in the US that does not allow that under state landlord/tenant law. Law states that the new owner must honor the current leases if the property is sold. Under normal circumstances the new owner could choose not to renew the leases once they are up and evict then, but the eviction moratoriums prevented that too.
In UK they are abolishing no fault evictions. It means that if the tenant doesn’t break the lease terms then you can never ask them to leave as the lease is a rolling lease with no end date. You also cannot deny them the right to keep pets. Unbelievable. You have the right to request a “reasonable” rent increase once per year.
I live in an RV on a beach in Baja. I had a nice house in the burbs for 10 years and HATED it. I swore I'd never own a house or property again. I'm living my best life now. If I tire of this beautiful place, I can leave with an hour's notice with everything I own and go pretty much anywhere in the Americas.
But if you found good renters for your suburban home, and rented the upstairs and downstairs, you could be getting a rental-allowance of up to 6k a month.... believe me, that goes far in Latin America
I can argue equally for and against complete detachment from the system. Even a cash flow situation will have its headaches occasionally ruining otherwise perfect spans of Baja bliss, which when I was there a couple years ago I felt was deeply underrated as a destination.
@@orbitaljellyfish808 Yeah, agreed. Did a camping/surfing adventure across baja with a girlfriend when i was younger. Besides empty near perfect waves and delicious seafood; I remember very starry nights with zero light-pollution. That place really is amazing 🌵 🌴 🏕 🏄♂️
Mines parent, gone the house with the bad neighborhood, then rent for whole 10 years so that is salary plus rent to pay the new rent (if that makes sense). So then after like 10 years is when they buy another home without selling anything. But for practical purposes, if you own a home and dont like the environment, rent it, pay another rent (cheaper if you can) that when you like you can jump to the next home.
My father has this mentality. He was born in Uganda (Indian origin) and in the 70’s Idi Amin - the then prime minster. Told all the Indians from east Africa they had to leave the country. He came here settled, got married to my mother and waited years while leasing a shop and the family living above it in a flat until he had enough money saved to buy a house outright. These was decades ago so it was much cheaper in The UK. But the point was he was so burnt about his experience in Africa he never trusted or relied on a government ever. He knew they can and will let you down.
@@kmrsilver7916 people of Uganda has no knowledge no skills to develop their own poor country, at least his father contribute and built up your country. 1000 yeats later Uganda will stay at the same state so let other ppl to do the heavy work
@@xerxesafshar8784 thats what you think .even it you were right .thats not your country. Every People have right to manage their country in sovereignty.it was the same for india before thé independance .the british said indians are not able to manage their own they are not intelligent and not white enough to be civilized.your people had the same struggle few years ago .and their are still many problems on your community .they burn women with acid , their is à cast system , à racial discriminated system according to skin colour ....
My Gran always used to tell me "Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner".
we all know that tate hates books, but at the real world group chat someone mentioned the book 25 Money Secrets From Donald Trump, and its absolutely life- changing
What an attitude!!, bet you are are a the life & soul of a party!!. I own my house & if i don't sell & make shitloads my daughter gets it and ... makes shitloads, that means i die happy. Either you are super depressed or a total loser, seek help!!
Agreed. The only rebuttal I have to your point is if you have the mind-state, you are buying for your last name and no your first. If I ever purchased a home it’ll like be owned outright in cash when/if I can so that my children have a home and their children. Chances are they’ll fuck it up though and sell as soon as I die 😂
All true. I've owned homes that were mortgaged, I've rented and I've bought a home (only recently) with straight cash. The rent and purchase with cash have been the BEST arrangements hands down. I think especially in the States it is a SCAM by orders of magnitude how everyone makes folks think they MUST buy and mortgage etc. It's frankly a trap.
@@carltonlambert7608 So you're telling me that people only buy the house and not the plot of land (garden, yard, garage) that were also sold under the same agreement?
@@nelsonhibbert5267 No, I'm not telling you. I'm telling the original poster but Yes, people were forced to leave their homes in the UK to make way for the HS2 rail link, and some are still waiting for compensation:    Stockwell Heath Families in this area near Rugeley were forced to sell their homes and say the scrapped plan has devastated their community. Madeley Bernard Kettle lost 40 acres of his farm to the HS2 scheme. Ashley Andrew Daniel was forced to sell his home at a reduced price and now rents it back from HS2. Cheshire Peter Oakes' farm was due to be cut in half by HS2, but he and his family did not leave because they could not find anywhere suitable to buy. The government canceled the Manchester leg of HS2 due to increasing costs, delays, and changing travel patterns since the COVID-19 pandemic. Transport Secretary Mark Harper said that people who lost their homes and businesses along the scrapped route will not receive new compensation.
EVERYBODY RENTS. IF U THINK U OWN. DON'T PAY YOUR PROPERTY TAXES AND THE REAL OWNERS WILL PAY U A VISIT! 🤔 (EXLCUDING 100% DISABLED VETERANS IN TEXAS OR ILLINOIS WITH EXEMPTIONS)
Your Right bro Imagine You Just Bought a 450,000 House and America goes into war/ lockdown or a new Covid or some Crazy Unexpected shit happens where you have to move, well there goes all your finances, your Credit, all your Liquidity is tied up and so much more damn i hate to say it but Tates right unless your thinking from a Real Estate perspective of being a Landlord i dont Suggest it
@@heedmywarning2792 lol..that is true because even kids and having a woman is debt. A woman requires time and money. You cannot take a woman out for free all the time.
I am a single 34 year old with no kids. I rent a room in a two bedroom home. It is not where I want to be but listening to tate and all these other videos gives me a much better perspective of the way the world works around me.
Also imagine buying a house to leave for your children someday. Paid off , THEY could carry on the legacy of Landlord status. Easily cash flow, or even sell the house for a profit. None of that is possible with just “renting” He says he doesn’t own so he can just up and go wherever… yes because we all flee to romania on sex trafficking allegations lmfao
@@Baileyyyyyyy416 Most parents in the US don’t leave their homes to their kids. They sell the house once their kids have grown up and use the profit for retirement.
@@Baileyyyyyyy416 you can leave your children a massive cash flowing portfolio and it all be the same… who gives af about ‘landlord’ status except some goof 😂
Parking your wealth in housing is exactly what my old man has always said. According to him that's how home ownership use to work (was viewed) up to the late 70s early 80s when it shifted to a mindset of "I'll buy this house to make my money". Since that happened house prices have continued to rise at irrational rates. He's been saying for years that house prices in Australia are minimum, twice what they ought to be.
Tate being a millionaire telling people it's easy to rent. LOL. If anybody who's not a millionaire listens to this logic, you're crazy as fuck. I'm not saing buy in today's market....it totally sucks, but buy when it's time to. That time is coming in a few years.
And this fuckin' guy wearin' tight ass gym shoes with no socks. Bro.....I don't trust this shit no more. Fuck a Tate, he's starting to show himself, talks too much like a woman does.
Can't speak for everyone but bought my property a few years ago and my mortgage payments are far far lower than people i know who rent, and at the end of the day I'll own my property. I can see his points, but think for most average people/families, owning a property is the better option
@@mrsose1872 And provided you don't sell it next year then you will be absolutely fine. And FYI, it will not be worth half of its current value, what financial scare monger have you been listening to?
Genuinely thought I was the only one with this mind set so refreshing to listen to this. I live on a boat and pay peanuts on rent and have all my wages to enjoy instead of being taken away from me, not interested in owning a house and tiring myself to a debt that someone else has control of
One of the great things about a mortgage is protection over rent inflation. Your mortgage might seem high after the first few years but over time, renting a similar property will far exceed what you're paying per month, including taxes. My dad's mortgage is 1200/mo in a nice city where renting a 1 bedroom is $2500. Its nice to be flexible and move around, yet each time you move there will be initiation fees, deposits, moving costs, and you get the current market rate. Being flexible has its benefits but there is no denying a long term contract will save you move over time, whether thats taking on a mortgage or constantly renewing your rental contract (over start a new one at current market rate)
@@trivadpt I'm on a tracker mortgage and have saved a fortune over the last 11 years. It is also an offset mortgage so the savings made have gone into the offset which means I pay no interest ongoing. When the mortgage is paid I can release the savings and do whatever with it. If I have to move away I can rent it out and use the rent to rent a place for myself. When I retire I can release as much equity as I want from the house and use it as an additional pension whilst still living in the house. Only a fool would rent for life.
5 year term, you refinance during inflation now rates are high. Typically rates uses to be around 8-13%. Now imagine that on prices people paid during 2020-2022. They will get screwed.
Costs a lot more to maintain though. Evens out eventually. Only difference is you’ve made capital gains as long as immigration doesn’t take over in your area.
I've been renting for 20 years while my friends have all been paying off mortgages. I've moved around and had the flexibility Tate talks about but people need security and they think having a house and a mortgage gives them security.
Fair enough, but let's be honest for 20 years you have given someone approx. $1,200+ a month and made them rich so lets not act as if renting for the rest of your life is a good thing
@@MrJimmy3459 I need freedom and I like to move around. Renting for the rest of my life is an option, unless I buy a farm somewhere for cash. He's spot on about being enslaved to the government when you have a mortgage
@@leebillyc1677 Do you even listen to yourself? You're still a slave to the people who own the home you are renting. You give them over $1,000 a month and line their pockets, you've given them approx. $300,000 in those 20 years but yet "I dont want to be a slave" LOL!
@@leebillyc1677 Buying is definitely better for the average person with a job etc but in your situation which is an exception then of course owning a home isn't that beneficial if you're going to be paying for homes elsewhere while you travel, may aswell just rent and save having to pay a mortgage
Thank god I have never bought a house while we were living in Australia with my son as when cold hit we simply moved out of this tyrannical shithole and that was best decision of my life . I would never buy a property especially we live in crazy times. I agree with this man 100percent
You're absolutely right. I bought a house in Quebec, 11 years later the entire place went totally insane because of the sniffles and we were stuck with that house for 2 years in one of the worst places for covid in the world, and a population 90% who were full on petty tyrants with the emotional maturity of rats. We finally sold it and got it of there to another province, are renting and my husband and I split all our finances and everything will be in his name because I got a mask ticket there for not wearing a mask outside and yes, I'm expecting them to fuck us with that eventually. And I was with the convoy, donated to much of these things etc. Anyway I loved that house in Quebec, it was a very old house, we spent over a decade and thousands of hours turning it into an old villa but being stuck there in that open air looney bin where the government blockaded our region and everyone was screaming for more and most of our acquaintances etc turned on us or abandoned .. it was fucking hell and sure made me change my mind about home ownership. My husband will buy again but a property with no neighbors and we are strategically in a better location with a border nearby.
I’m pretty close to leaving North America altogether. There are places with much more freedom and better political climates as well as much cheaper to live there…
So you got unlucky but typically on the US and elsewhere real estate appreciates in value. I can post a dozen opposite stories where they purchased for a few years and it appreciated in value and they walked away 100k in the black. Most of the time you get most of not all your money back out the house with normal Appreciation. So you can’t make a blanket statement to the world not to buy real estate.
The take away from not owning a home is, not being stuck in one place while the whole entire future of the world is unstable and prominently primed for war and social economic upheaval for the fallowing few decades. Mobility and flexibility is important because if you're region is severely effected by weather, government, war, pandemics, restrictions, crazy people, etc you need to be able to pack up and go and never look back.
Yeah that’s exactly what he said on the video, if you bought 25 years ago good job it was working before, your yearly wage was literally the price of the house. Now your yearly wage is 1/4 price of the house, that’s were the struggle starts.
And hidden lifestyle inflation costs associated with owning vrs renting that builds up over time. And when you pay off mortgage you still pay taxes isurances maintenance forever.
Absolutely true, but you see comments here and you see in-real-life how many people WANT to live in "The Matrix" xD All this money flows into pocket of people like him, because most people don't want to become rich. They LIKE BEING AVERAGE.
@@eightloco4258 That would take months...but start by tossing out the idea that your government, WEF, IMF, WHO, Central Banks and the finance cartels, Big Tech, etc. are here to help you and humanity.
Tate is right. I live in Houston and house appreciation is inflation rate thus maintenance cost eat you alive. People forget that houses wearout and you need to constantly be putting money into it. Then look at the housing crash in 2008 and now you are seeing housing prices drop again.
no Tate is not right, you're just not very intelligent.houses are not falling apart every 3 months and leaking money. you can go 10-20 years without doing any work on a house assuming you didn't buy a DIY with tons of known structural issues. if you own a house, your mortgage goes toward building equity. He owns a bunch of houses himself he just has them behind a trust.houses in 2008 are worth 4x the price now.
@@Goth1que Even when the house is paid for, make sure your property tax, insurance, etc. will not become your new mortgage you can't afford in retirement or social security(if still exist).
I'm an engineer, been a finance guy all my career, know about investing and how to grow your money in a smart way and I can say: this guy makes a lot of sense. A lot of sense! Though for the average guy the only way to do property now is take a jumbo mortgage and hope for inflation to bail you out long term
As is with the case with a lot of miscommunication the misalignment is in meaning and understanding and implication -personalization of so people on here are saying don't buy or it makes sense to buy yeah well first of all just generally you have to find out what market they're talking about where are these people from where are they based if we're talking about buying real estate real estate is physical geographical land and there are a ton of implications that go into the valuation of those things so like in a place like New York the things that contribute to valuation is very different from the Midwest and we're not just talking about proximity or thing we're talking about culture and the communities values that go into the valuation of something like this and so that when we talk about things like this with such general terms yeah there's going to be a lot of misalignment and meaning and that's where the miscommunication comes from and that's where a lot of the the disease the unconstructive disagreements come from disagreements are good but there's disagreement that is just not productive
Buy cheap, get equity and cash flow. The thing is that you need to start young and live out of the place as you build that equity instead of throwing that money to landlords.
@@igorrosales1799 equity- this is the “gained value” in your property thru a combination of paying down your mortgage and, the value of the property rising. You buy at $100,000. Five years later, the home you invested in is now worth $110,000. There is $10,000 of equity. During this same time period, you paid $8,000 principle off of your mortgage. This means you own a home worth $110,00 with $92,000 of debt…. And you could say you realized $18,000 in equity. ✌🏽
This is the advice you can give to a young person who does not have long term goals. I purchased my home at 20 years old and recently made 200k from the sale and bought a home for my mom mortgage free. If you have to live like a nomad from rent to rent then don’t commit to a mortgage
You completely missed his point. You are trying to justify your decisions which i get but your way is not the only way. He is making a point and that point might be useful for people who think like him. He isnt right or wrong he is just recommending things and explaining why. I understand his point and i agree with it.
How long ago did you buy this house? The market has changed in the last couple of years and many people would be in over their heads as potential first-time homeowners.
The problem here is that the little and this gentleman use the word never . I bought 6 years ago and sold last year. We are always telling people wait for the right time and 20 years later we are still waiting for the right time or we tell them not to buy at all but instead tell them is ok to pay 1600 in rent.
Friend of mine bought a house in West Sacramento CA in the 80's. She lived there with her deadbeat baby daddy. The neighborhood went badly south quickly and so did her relationship. Neighboring houses were abandoned, boarded up or burned. She, with the only income, was stuck with the loan. She went to the bank and cut a deal. She showed them pictures of the area and the fire/crime reports. She threatened to walk away from the house. She got them to clear her off the loan and transfer it to the baby daddy. He was happy to take it because by then, rents had risen above what the house payment was. She lost her down payment but at least she was clear.
💯💯💯💯Exact Reason why Most of the time buying a House is bad, but unless you study real hard and your a Real Estate investor thats the only way i suggest it barely at that too
If I were her I'd have gotten investors to rally and refurbish the houses in the area including my own house to raise the value of the overall area, cut a deal and make a fat profit.
Exactly. Same as leasing cars - you’re paying the depreciation of someone else’s vehicle. Wealth and prosperity lies in ownership. Having equity in assets
@@jimmydigital True, wealth does lie in equity. But in becoming wealthy you quite litterally have to sell your soul and become a slave to the system, thats what Andrew is saying. You might drive a better car than your neighbour and you can leverage your equity to get a big loan at the bank to finance your bussiness or buy a buggati but to the game you stay a slave.
to quicky summarize: 1. Buying a house means tying your life for 20 years for something which requires UPKEEP. 2. Owning a house requires you to pay for other things such as upkeep and landtax. 3. It's not an easy way to "get money when you need it", in other words, if you are limited in money, you lose out on money opportunities. 4. "you are tied to a country" meaning If you put a huge portion of your income into something, it makes you stick to that area more, because you put so much investment into it. In other words: If you are young (18-25) it'd be better to rent so that you can make more money without the nuances of fixing your house upkeeping it etc. It's MUCH better to rent if you dont correlate your time to a fixed salary. If you do, it'd be better to buy a house.
Ehh, What 22y old just left school is going to go buying a house heshe couldn't even get cause heshe can't even show certain income figures one needs to show if buying a house🤷♂️ That's JUST DUMB ✌LOUIS CYPHER
@@COMMON-SENSE501 well the whole point of this comment is NOT to. Even when they are older, but there’s a lot of people who can. people who want to get into real estate, People who just got their bachelors make 50-80k a year that want to get a mortgage on a house, People in rural areas with cheap housing off the top of my head
@@thatisabsolutelykooooge2211 For me it was the fact that the housing prices in the Netherlands were rising stupid fast, I only bought a house knowing it would go up in value in a few years. Purchased in 2015, sold with a nice profit. Currently renting an appartment just like before, but with a healthier financial situation. According to the latest calculations there was a deficit on properties of around 1 million houses ( the Netherlands is not that great anymore) Prices are still rising but I won't do the same thing again as now you can already see the prices stalling (nobody can afford them anymore) If they will go down again for whatever reason, I might do the same, but it depends on so many factors. Interresting times!
Best decision in your life? So paying a life long tax and insurance on something you technically never own. Every land and property has a 99 year lease on it and you do not own it. Look into it and your mind will be blown.
Look at the average returns on a home versus buying the total stock market. Stocks always outperform housing in the long term. It amazes me the comments on here where people say they bought a house 20+ years ago and made money, but failed to disclose what interest they had to pay over the years, property taxes, sales taxes, insurance, permits, maintenance, upgrades and realtor fees etc. You need to subtract all that and then you will really understand the percentage you made. It's not what you think it is. Houses don't pay monthly dividends. They are not liquid. Renting buys you freedom to move quickly and buys back your weekends not spent at Home Depot etc fixing breaks. Houses need feeding money every month, even after your mortgage has finished. Property taxes, insurance and maintenance costs still continue.
On the flip side, my current mortgage payment for a house I purchased in 2010 is $1130 per month. The current rent for the same size house in the same area is $2500 per month. With a fixed mortgage, your property taxes and insurance may go up but the principal and interest portion of your mortgage payment is going to remain stable. Not sure you can count on that same stability with rent. And I’ve built up 12 years worth of equity. I get the “flexibility” argument for renting and I agree that there are expenses associated with owning a house. Bottom line though is you need a place to live. Most of us will be either paying rent or making mortgage payments for a good chunk of our lives.
I disagree with tate on this. I bought a house last year. I’m “in debt to the bank” sure but I only pay the bank $1300 a month for mortgage I rent out 3 bedrooms earning $2000 off the house. And I live in the 4th bedroom for free. That’s flexibility. If I wanted to move I can while my house is taking care of it’s self and paying for it’s self while I’m living where ever. Come back 30 years later to a paid off house
Problem is when things don't go the way you expect. Example: The Canadian trucker who thought he could stand up for his rights and got taken for everything he got. Personally i see most men get destroyed by women using the government to take everything. These are all generalizations. The point he's trying to make is that the society our parents lived in doesn't exist anymore. You can't be an average worker, buy a house, get married, start a family and live like your parents did. Things have changed. It doesn't work out for most men anymore. So they need to find alternative ways. And don't assume that the things that worked for their parents generation will also work out for them. Because it most likely won't. There are exceptions, but exceptions don't disproof the rule. Generally speaking: A young guy trying to do what his parents did will get screwed.
I think you missed his point. And he would mostly agree with you sense you're renting rooms. Most people aren't renting out rooms, and it is still a fact that after you've paid it off, the government can still seize it for any silly reason. Governments have been growing bolder, recently. You might not like the jurisdiction you live in 30 years from now, and your house might even no longer be "yours".
30 year mortgage is so stupid. A 15 year loan monthly payment is less than 10% more to start creating equity a few years later. A 30 year loan is rent plus a lot of responsibility because will take 15 years to start building equity.
I totally agree with tate, people are buying things they cant with the help of bank and then waste the rest of their life working to pay bank. Banks get richer while ur property will get old and time for new property. If you hv cash buy it otherwise wait for it. Renting is very small compared to owning. It applies to every thing even cars.
False. It depends. Anyone who bought before 2019 quadrupled their equity (down payment) and their mortgage after tax deduction is half of the rent they would pay. I am one of them . I can move anytime and rent the house to someone like you and have you keep paying my mortgage and make extra money every month and still write off taxes. I have two HELOCw on it. $hit hits the fan? I will withdraw up to the full limit (close to my equity) and walk away.
I totally understand this method! I’ve been renting a house for several years now due to exactly what he said here and past experience . I did buy a house years ago and fell into the financial decline when the job market crashed, I was laid off indefinitely. I had two vehicle payments, house payment, property taxes, Insurance on all three and everyday expenses wiped out my savings in less than a year. I couldn’t sell the house due to everyone was in the same situation. Fist my vehicles were repoed after 3 missed payments. Banks refused to work with me. Then came the house. Literally foreclosed on me. I stayed in the house until they forced me out which bought me time to earn enough cash to rent a home and stash cash without using any bank. I paid cash for a used vehicle. Now I’m financially free from all of that debt. The government is ruthless when it comes to thinking you own anything. I can pick up and move anytime I want to. I don’t pay property taxes or insurance. I don’t pay a dime for any upkeep of this house either. it’s actually liberating when you think about it. When everything was being pulled out from under me I felt like a failure and went into a deep depression thinking it was the end of the world for me. I’m actually happy I went through it. It woke me up to what’s really going on in this world and how wrong I’ve been in believing everything I was taught is a complete illusion. Everyone has to make their own decisions on how they want to live and I believe Andrew and many others are really trying to teach this generation and generations to come the truth.
@@estarr86 yes because I wouldn’t of had all of the interest, taxes and insurance payments. Those payments alone would have bought me a lot more time in renting. Now- had I not had the cash to rent, I would have family and friends to stay with and not worry about the house payment etc. I did end up having to file bankruptcy after all was said and done because even though they took every thing I was still responsible for the loss the bank. So that’s another valid point. They take your property and you are liable for the back taxes and loss the bank says they took. It’s really an insane corrupt system. I’m just glad to be free of all of it now.
No. He owns a trust fund in some South American country. That trust then owns a company somewhere in Asia. That company then has a shell offshore location in Europe in some tax haven. He then lives in the house that company owns. Good luck having your local government tax him for his income.
Andrew Tate is talking shit...For us normies, buying is always a better option if cheaper than rent. Had an economics teacher many year ago spout the same bullshit. The full class just laughed as we all knew its shit. Very few of us are globetrotting sex pimps...Andrew isn't speaking for the common man.
He doesn't own property, but he owns the shell companies that do to avoid taxes? Twat.Tate is a man that would be good fun for a few weeks, then you'd ghost him as he's a pain in the arse. I'm paying a mortgage on a bungalow on a 1/4 acre of land for less than the rent on a pokey council flat. And my mortgage was only 15 years, Renting is only paying for a house for someone else. I'll be mortgage free by 56, I'd never be rent free...Tate's living in his own fortunate fantasy land
Lmao people don't understand that a mortgage payment remains fixed while rents are always rising. An $800 mortgage payment means the property was acquired years ago (or large down payment).
Doesn't add up for most people. The money you pay in rent and the loss of autonomy vs paying a mortgage on a property that will be fully yours/your kids, the equity you have in said property. Furthermore, if you need to move for work, then you can rent the thing.
There are pros and cons to both. Depends on what you want out of this life. Some may be on the move a ton so having a permanent "home base" might be a good idea. For others the idea of owning the home only to rent out forever might be the move. All I know is as you move up the ladder and get older you end up buying a place and in multiple places so when you're not living at one you offer short term rentals for the rest because you understand the value of your time and nothing should go to waste on unused assets.
Just rent out the rooms for your house if you want to move and that house will give you passive income and pay off it's self. The money that house makes you could also be paying off the rent wherever you move to. However, I would rather buy a second house and do the same thing instead of rent. As long as your debts getting paid off by other people, you're profiting/laughing. To the point where it's not even going to feel like your debt. I mean really... It maybe debt in your name, but you aren't actually paying for it.
It's never about you but always for the next generation. Build your empire enjoy the journey and leave it to your offspring so they will be in a better position earlier!
@@magenterprise6340 yeap, exactly... Ive inherited and I firmly plan on passing on more to my son than I got from my dad. And that's how you perpetuate the cycle...
Owning my house outright has made me pretty much immune to any of the interest rate hikes or other economic issues arising these days. The opposite in fact. I'll be happy to see 20% interest rates like in the late 1970's. I can lock in some GICs at 19%.
I had to walk away from my Chicago condo during covid. No one even looked at it while it was listed. There was a mass exodus from the city. There were 17 units that went up for sale in my building alone, within the same month I listed mine. Glad we left, but it takes years to recover from being unable to sell real estate due to a drop in market value. Rent isn't a choice now, it's a given.
Well people who own there home don’t pay no rent and can rent it if they decide to move else where. Rent a home and the price keeps rising and you can be kicked out trying to find a new suitable home. Many people who have a home have also seen a massive increase in value and can sell it!
I ain’t married and definitely not buying a home my corvette is almost paid for I love the feeling of no debt no way I would commit to anything in these crazy times
Very informative video! Makes a lot of sense! I have "owned" 2 homes. Made $60k on the first sale and $75k on the second sale. Now I rent. The thing that really stuck with me was why pay a mortgage on something that you don't really own that can be seized while paying interest, and also property taxes. I have been recently looking at purchasing versus renting and it was tempting to buy until I heard this. Example, I was considering buying with a mortgage payment of around $1.7k/month but would have to come up with $40k for down payment, plus upkeep costs and potentially lose value in the house when the market crashes, or I can rent for $1.9k/month and just come up with a month's rent payment for deposit and be done with it.
Bought my family home seven years ago, (babies need a home).....it has gone from being 'worth' £235K to £380K ish. I would be mortgaged to the absolute brink of poverty trying to buy it now.
The wisdom of home ownership depends on your situation and market health. I’ve owned 3 homes. I’ve been renting for the past 14 years and don’t see a reason to own another property, even-though I could afford to. My rent is $700/mo with electricity included and $20/mo internet. No cable bill. I pay $7.20/mo thats it. All repairs are handled by the property owner. I’m not a slave, or prisoner to a house and property. I pay rent month to month and can pack up and leave at any time. Also, to Andrew’s point, you never really own a home. Even if your home is paid in full, if you fail to pay your taxes, which may be exorbitant, your property will be taken by the government. Lets not bother getting into eminent domain, which is another way the government can just take your property.
I'm glad I watched this to the end.......because the main thrust of his argument I now get. How can it be that we have 'fines' set at a certain limit for everybody? They should be set at a percentage of your TOTAL wealth. That would be equitable and fair. They are set how they are, to punish the poor and very, very, very slightly, inconvenience the rich.
This is true. I agree 100 with Tots especially with the ownership part of the property. I was about 8 or 9 when my family bought a house and now I'm 29 almost 30 and the house still isn't paid off yet.
Learn from the mistakes of others. My father worked his whole life. He had a house. Then the war came. He died. The house was sold for 10k (basically: nothing). He worked his whole life for laughable 10k.
Property owners have enjoyed huge appreciation. People buying today won't sell for 300% or 1500% in 25 years as buyers from the 80s have enjoyed. Context & timing
Renting dosen't give you the flexibility to up and go - you normally have a years lease. If you own - its easy to find a tenant. It does mean you can be asked to vacate and have difficulty finding somewhere else.
Raia , I feel that Andrew was saying, do you really own it when various factors come into play ? That is why he was very careful to say unless you structure the purchase of your home or property so that it isn't connected to you, then governments and individuals can seize your assets and the average person can't afford to do that.
He’s 1,000 percent right. I’ve made and continue to make a good living. Property just isn’t the answer for most. Now I can buy a house but there’s no point my roi on my other ventures out pay what I would make from a house.
It certainly highlights being careful of where you buy a house, and I hate that the barrier to entry for first time homeowners is so high because of this. That being said, our taxes are 6k yearly, HOA 4k, and upkeep costs are mostly covered by the high HOA. Looking at rent in the area for the largest house closest in size is 5k/month. Considering interest will cost us about 30k total, and if the value drops 50%, you would need to rent at least 4.25k monthly for the same 5 years to equal the loss of value plus expenses, and unfortunately that means ownership worst case is net positive by 45k, best case you come out ahead by another 175k if prices don't drop. The only way you can get ahead with renting is to rent smaller cheaper apartments, which are all filled up here (yeesh I didn't know until I now) or find roommates. I haven't crunched the math but my guess is you could save easily an extra 40k in that time span then use it as down payment for the house.
He says “my property never lost me me penny, sorry IF I owned property it never cost me a penny” trying to redact to stay in alignment with “don’t own a property” Well in another video when talking about his net worth he starts talking out loud about how he has never taken the time to assess the value of ALL of his properties. Your properties have no value and don’t contribute to your net worth if you are renting so he’s obviously lying. He does own properties and he’d be a fool not to own and decide to rent instead. He truly doesn’t believe it’s a better idea to rent and neither should you. This really gives you some good insight into his moral character. Classic behavior of a hustler, founder of hustler’s university. There’s fraudulent info on there in the crypto section specifically about estimated net gains so don’t say I didn’t warn you.
He is a hustler for sure, if you read into what he says there are inconsistencies yes, but most of it is down to privacy and being a good story teller. Every good story teller embellishes there stories it’s not that big of a deal. It may be true what you said about the crypto section but In the early days of Hustlers University I was able to nearly 30x with one of his calls on Pancake Swap, bought at £1.15 and sold for £28 and many of his calls after came through, and tbh they were open about having “insider” or “secret” information in the early days of HU on 2021 🤷🏾♂️
As a person who rented for 15 years and now a home owner for a year., its about location and expected income over say 10+ years. Buying a house is CHEAPER than renting. I live in New York. Andrew is both correct and wrong at the same time.
Proudly (more relieved) former-homeowner and I strongly agree with Tate on much of what he says. Where I bought, I quickly realized that my fantasies were foolish and the city saw homebuyers as the harvest, the sheep to be sheared every season. The homeowners are the crop for them. To be used by the city establishments and institutions. Homeowners are their income sources. You aren't a home OWNER anyway and are no different than a Renter (with more to lose). This isn't your land. This is the city/town land and you're a temporary resident as long as you're paying to reside there. Tate is correct that you can always lose your house. It's not your 'home' either, its a house that belongs to that city and you're paying to stay there. They can take it from you always. Don't pay your taxes and a city judge will have the city take their home (not yours) away from you. He's not wrong about masks.. tho it sounds extreme.. in theory you can get fined and ultimately they can take it from you. But never mind the extreme cases, when you buy a home now you're a glorified renter hard-fastened to the expense. Yes, there are 50 in 1000 for whom it will work best. For 950 others its being fleeced, fooled, used and tied up into a kind of trap that you'll pay into until your so old that maybe you can sell and have enough leftover to cover the last 3 years of your dying life in a seniors home or hospice and hope you die before that money runs out.
Have three friends at the moment moving as their landlord sold from under them, we are in a housing crisis and struggling to find new accommodation. I'm so grateful to own a home - and we own it, its paid for, as we bought a simple home, nothing too large.
@@elliottalderson6443 Why the hell would you ask such a question? Are you one of these internet people who says what city they're in and asks 'Anyone else?'. There are 180,000 cities on earth. 506,000 towns. What is the chances I will say the name of one of the 3 cities you've live in in your life? "Ohh.. ya okay, my brother lives there...". Really, what's with that? Here, you tell me what cities you would ever have lived in then I will tell you if it's one of them. The chances are astronomical. It's really weird how often Americans do that on the internet more than any other people on internetworld. "Anyone here from 'MD'" they say some postal abbreviation like we all know good ole 'MD' "hey anyone else from Pioria ILL?" as if they think the internet is somehow a local TV station in their region. Anyway, what city you in?
Good answer from Andrew. He is wiser than I thought to be honest. Lot of a discussing to make the point but that was more because they where going deep about possible ownership. Even your own life can be taken away in a glimp so as long as you understand you will never own anything accept your thoughts.
I approach my landlord to give him the rent. He stops cutting the grass, takes my rent check, and says to me "never become a landlord." He's raised my rent 5% every year.
Yes and no. He might be agains the popular opinion and being a public figure as he is, he just say what is best for someone who want to express opinions without being jailed for that. IT seem that having an opinion agains the gob on any country almost, is like have a death sentence (or as you say, is an illegal thing).
@@carlosemiralonso7997 oh i don't know much about him i saw him for the first time a few weeks ago and now all the sudden everyone is taking about him that i watch
Someone’s still in the matrix. It’s an illusion my friend. In reality you don’t really own anything. Even if you built your house on your “own land” you would still have to pay taxes to someone. You have to pay to drink water and taxes for roads to be repaired. The only thing we don’t pay for is air. Your birth certificate is technically a receipt. Even to marry you need permission and have to pay for that as well. You’re no less a slave than the rest of us. You have to have a travel permit to travel in the form of a passport you have to renew for a cost. Tate said it best anything that can be taken from you you don’t really own. You’re born into a system that is designed to keep you in that system and your off spring which is why it’s not so easy to just give your home to your children. There’s even rules to how much money you can give someone without tax implications.🤷
Dude you dont understand we have to pay taxes unto Ceasors what is Ceasors and God is what is GODS period. We cant escape the place that has streets for you and Ambulances and medical services. How else can we have a Government without a Government. There is no way around this. This is what perplexes me about these dudes. How do they think to escape that which is there to serve you?
Owning real estate is right for 2, and only two, buyers: 1. You can buy the home outright, so no interest to the bank, and the cost won't make or break you 2. You are using it for cash flow, to have a passive income, and the tenants are paying the note Everyone else should rent, until further notice.
@@aba192 My Bitcoin investments have made me over 5000% over the last 11 years. I can buy and sell you, and not even notice the transaction. Checkmate.
In two years my friends home more than doubled in value. You have to know when to buy and when to sell that is key. These days the so called Matrix does not want you to buy a house, they want you to own nothing and be happy.!
Not quite. They try to scare you into thinking you won't be able to own anything in the future. That way you jump head first into 'ownership' any way you can. And that's how they have you.
nah my parents never bought a house and before I was 18 they were both forced to leave their place of birth because they couldn't afford the rent in their hometown. Had they bought houses which they easily could have when houses could be bought for $70k in the bay area, they could easily have been real estate millionaires simply by making basic adult decisions. I watched houses in my parents neighborhood go from 300-400k at the start of middle school and them selling in 800s by the time I was in highschool a few years later. I bought my house in 2019 somehow, it seems like overnight they tell me I've already got over 300k in equity That's more than I paid for my house and my mortgage costs me less than I was paying to rent a 1 br apartment. You can never be truely free of the matrix without becoming homeless and living off grid or independently wealthy with multiple streams of income entirely segregated from you and set up as a nameless LLC using only numbers who than pays another nameless numbered company X, Who hires you allowing you to draw a salary from company X.
Bought a crappy cabin in 2017. Fixed it up. Put it up on air bnb and now it pays itself and my current rent. Left my 9-5 at 33. Now chasing some childhood dreams. What did i do? I bought a house
Do you mean as opposed to paying significantly more per month on rent? Deposit aside in the UK renting is a terrible idea, those that do rent only do so because they can not get a deposit together.
@@usefulrandom1855 I put my money into the stock market while renting in the UK for years before buying a house, and now I have a house plus a bunch of stocks
I'm lucky I inherited a house in Fulham London from my late aunt.. and wow they still were relentless with their claws trying to make me sell it or pay this.. pay that
I bought an off grid property back in 2019 for $330k now its worth 700k i lived in it for a year but have had to move 5 hours away for family reasons i just rent the house out and that keeps the mortgage insurance and council rates paid every year. I also get 800kg of meat every year off my land. It is now my retirement plan.
Tate is a multimillionaire he can rent for the rest of his life and he wouldn't feel it, the vast majority of middle-class people it is better for you to buy a home and pay if off.
And when he says he doesn't own a home he actually does, he owns the house he has in Romania, but the house is under one of his business names not his name. Which is nothing out of the ordinary for millionaires to do in case they are in any sort of legal trouble they're personal belongings are off the hook.....
@@MrJimmy3459 have you paid attention to what he said ? He said that buying properties is a bad idea unless you can pay it cash, thus avoiding becoming a slave of any bank through mortgage if you don't have the means to own the property, rent it. That way, you gain flexibility
That's it, pay it off like a slave for the next 25 years like a good little boy. Even after that, for one misdemeanour the government can still take it off you. And make sure you don't leave the toilet seat up too often lest you incur the wrath of your wife who can also take it off you at a whim.
After investing in commercial property as well as residential, i can say this is very true. Its like im a security guard for the government and im collecting the income from the properties . I own 7 exotic cars including rolls, lambo, amg gt black. Yes they r worth millions the properties but u never truly own them. I had 24M Worth of real estate at 33 and now live comfortably still in my late 30’s. Tates advice is so true as is Dan penas. I used to dress up in a suit and go to Lamborghini dealerships when i couldnt afford one, now Lamborghini comes to my house to pick up my car for servicing. Listen to Tates advice, will get u far in life or listen to ur government and remain poor and b a sheep.
If you took 100 men and they’re all aged 25 - you ask them what they want out of life and they say ‘I want to be successful.’ Only 5 / 100 would become successful and the reason for that is conformity. ~ Earl Nightingale
Hmm, my mortgage has SIGNIFICANTLY dropped in the past 20 years since I bought my house. My mortgage is now HALF of what people currently pay to RENT a 1 bedroom apartment in the same area... And landlords raise the rent as often as possible, but unless interest rates go CRAZY, my mortgage rate will keep going down... And if the government goes enough to shit that my bank mortgage is no longer relevant, then we have far bigger problems!
@Redford Kobayashi I think he is technically right, and the ultimate ownership can be taken by the Crown. But good luck to the Crown if they try to take the homes of everyone in the Commonwealth. The Royal family and Crown would be obliterated in no time. There are many more of us than them.
The worst enemy anyone can ever have, is piss off the man who wanted to be left alone. Because once that man loses that and is forced to fight, he fights with a fury and vengeance that can't be stopped, as he knows he's can't go back to being the man he wanted to be. I think the saying goes something like that.
Owning your own home is important. It gives you security and certainty. The western world currently has a rental crisis. 50-100 people going for one rental property. Storage facilities are full so there is no-where to store your chattels between rentals. When interest rates are low a mortgage is cheaper than rent. The best philosophy though is to diversify with both active and passive income at the lower risk end. Have a mix of rental residential, leased commercial property, shares, cash, gold/silver, and an active business. If you want high risk then crypto and gambling. NEVER buy depreciating assets like planes, yachts, cars, jewellery, clothes and shoes at retail prices. Try and buy at your price not theres'.
I lived in a van for 9 year's, never got married, never had kids. I had life savings plus what i earned in the 9 years. Put a massive deposit on a house down. Then set the house up as air b n b and rent it in the summer. It will be paid off 4 years after i bought it.
@dsquared7059 Not at all. Most of my friends are now divorced, have fought battles for their kids, and there ex wives have got a big payout or have kept the house.Ill stick to having a girlfriend and enjoy my money as i get older..
Explore the forbidden book Hidden Laws Of The Game to uncover hidden truth.
We left America in 2016 and bought huge home for 50K in the Azores...debt free, grow our own foods, no stresses on keeping up with the material world...
to how many ppl is this aplicable u think?
@@TheCatoblepass A few billion.
@@craigsmith2755 i highly doubt that do u have any stats to support ur claim of billions?
@@TheCatoblepass I brought a flat last year, put 20k down and my mortgage is 250 a week, much better than renting your whole life, "Don't buy a house" is a dumb statement
@@TheCatoblepass he's probably about right, buying any property in the west will pretty much guarantee you a profit in 20 - 30 years, where renting gets you nothing lol
I used to own a small apartment building. Lived in one unit and rented the others out as I fixed them up. I sold the building after 3 years for a nice profit and regretted it for years (it cash flowed), until the C-bug hit and the eviction moratoriums hit in the US. I heard the new owner went under because he had tenets that didn't pay rent for two years and he couldn't evict them. You don't own a thing if a government can come in and effectively take it away from you.
Buy it again from the bank 😂
@DiyNut Nope, wouldn't work in this case. Property was in a state in the US that does not allow that under state landlord/tenant law. Law states that the new owner must honor the current leases if the property is sold. Under normal circumstances the new owner could choose not to renew the leases once they are up and evict then, but the eviction moratoriums prevented that too.
Boom. The biggest scam is the marketing they did around the term 'homeowner'. Doesn't really exist.
In UK they are abolishing no fault evictions. It means that if the tenant doesn’t break the lease terms then you can never ask them to leave as the lease is a rolling lease with no end date. You also cannot deny them the right to keep pets. Unbelievable. You have the right to request a “reasonable” rent increase once per year.
Put it in your mums name unless she's on the wrong side of the matrix
People that say “don’t buy a house” typically own multiple rental properties.
That's not the same bro.
He explained the difference on the video clearly you only looked at the headline
@@Garybell09 'I flicked through and saw him getting tripped up by multiple contradictions
What he meant was......
Don't get
[(owned by a property)]
@@Joe-fn9mi like what?
That didn’t even come anywhere close to “heated” at any point. Was a very normal and respectful exchange.
Obviously this is TH-cam bro people do and say anything for Views
Welcome to TH-cam. That’s called a title.
@@sportsbettingeducation click bait*
Come menh its for click bait😅
Click bait
I live in an RV on a beach in Baja. I had a nice house in the burbs for 10 years and HATED it. I swore I'd never own a house or property again. I'm living my best life now. If I tire of this beautiful place, I can leave with an hour's notice with everything I own and go pretty much anywhere in the Americas.
Airstream?
But if you found good renters for your suburban home, and rented the upstairs and downstairs, you could be getting a rental-allowance of up to 6k a month.... believe me, that goes far in Latin America
I can argue equally for and against complete detachment from the system. Even a cash flow situation will have its headaches occasionally ruining otherwise perfect spans of Baja bliss, which when I was there a couple years ago I felt was deeply underrated as a destination.
@@orbitaljellyfish808 Yeah, agreed. Did a camping/surfing adventure across baja with a girlfriend when i was younger. Besides empty near perfect waves and delicious seafood; I remember very starry nights with zero light-pollution. That place really is amazing 🌵 🌴 🏕 🏄♂️
If you don’t mind me asking, how much was the RV?
One crazy neighbor is all you need to be sorry you can’t just pick up and go.
fuck the neighbor, what he's gonna do? just put a fucking wall and trees between you and him
if you can't put trees just do another wall
You can sell it and go. People do this all the time
Mines parent, gone the house with the bad neighborhood, then rent for whole 10 years so that is salary plus rent to pay the new rent (if that makes sense). So then after like 10 years is when they buy another home without selling anything.
But for practical purposes, if you own a home and dont like the environment, rent it, pay another rent (cheaper if you can) that when you like you can jump to the next home.
Feel that !
My father has this mentality. He was born in Uganda (Indian origin) and in the 70’s Idi Amin - the then prime minster. Told all the Indians from east Africa they had to leave the country. He came here settled, got married to my mother and waited years while leasing a shop and the family living above it in a flat until he had enough money saved to buy a house outright. These was decades ago so it was much cheaper in The UK. But the point was he was so burnt about his experience in Africa he never trusted or relied on a government ever. He knew they can and will let you down.
Damn... you mean Racist African does exist??
If ure mother had wheels she would of been a bike
Your father was an enemy of the uganda people .he was only to profit to uk domination in africa.your father deserved to go out of africa .
@@kmrsilver7916 people of Uganda has no knowledge no skills to develop their own poor country, at least his father contribute and built up your country. 1000 yeats later Uganda will stay at the same state so let other ppl to do the heavy work
@@xerxesafshar8784 thats what you think .even it you were right .thats not your country. Every People have right to manage their country in sovereignty.it was the same for india before thé independance .the british said indians are not able to manage their own they are not intelligent and not white enough to be civilized.your people had the same struggle few years ago .and their are still many problems on your community .they burn women with acid , their is à cast system , à racial discriminated system according to skin colour ....
My Gran always used to tell me "Don't let yourself get attached to anything you are not willing to walk out on in 30 seconds flat if you feel the heat around the corner".
WAS UR GRAN NAMED ROBERT DENIRO?
@@adammessnernever heard of her
No she did not
Spoken like a true O. G.
Does that include a wife and kids?
The fact he has to censor certain words in this video just shows how fucked society is
You used the 'f' word (rhymes with back). I'm going to report you. (just kidding
@@heedmywarning2792 i can't read this, where's the /s (/s)
I got out of debt 20 years ago..and that’s they way it will stay!
Yeah honestly the peace of mind is often worth the financial hit
we all know that tate hates books, but at the real world group chat someone mentioned the book 25 Money Secrets From Donald Trump, and its absolutely life- changing
😂😂😂
I like Worlds Top Glazer by Mark Jones
who care what he thinks, do you
bad advise by Tate
This is Bs
No one owns anything because the fact one day we are all going to die means everything is temporary
Children?
What an attitude!!, bet you are are a the life & soul of a party!!. I own my house & if i don't sell & make shitloads my daughter gets it and ... makes shitloads, that means i die happy. Either you are super depressed or a total loser, seek help!!
Exactly 💯💯
Agreed. The only rebuttal I have to your point is if you have the mind-state, you are buying for your last name and no your first. If I ever purchased a home it’ll like be owned outright in cash when/if I can so that my children have a home and their children.
Chances are they’ll fuck it up though and sell as soon as I die 😂
It’s passed down so you do own it lol
All true. I've owned homes that were mortgaged, I've rented and I've bought a home (only recently) with straight cash. The rent and purchase with cash have been the BEST arrangements hands down. I think especially in the States it is a SCAM by orders of magnitude how everyone makes folks think they MUST buy and mortgage etc. It's frankly a trap.
I tell people all the time that they don’t own anything. If you truly owned it, it wouldn’t be able to be taken away.
To many people don't understand this
Most people also don't understand that almost all of people that pay off their mortage never loose their home lol
My dad used to tell me you ownly own the bricks if that. You don't own the land it sits on.
@@carltonlambert7608 So you're telling me that people only buy the house and not the plot of land (garden, yard, garage) that were also sold under the same agreement?
@@nelsonhibbert5267 No, I'm not telling you. I'm telling the original poster but Yes, people were forced to leave their homes in the UK to make way for the HS2 rail link, and some are still waiting for compensation:



Stockwell Heath
Families in this area near Rugeley were forced to sell their homes and say the scrapped plan has devastated their community.
Madeley
Bernard Kettle lost 40 acres of his farm to the HS2 scheme.
Ashley
Andrew Daniel was forced to sell his home at a reduced price and now rents it back from HS2.
Cheshire
Peter Oakes' farm was due to be cut in half by HS2, but he and his family did not leave because they could not find anywhere suitable to buy.
The government canceled the Manchester leg of HS2 due to increasing costs, delays, and changing travel patterns since the COVID-19 pandemic. Transport Secretary Mark Harper said that people who lost their homes and businesses along the scrapped route will not receive new compensation.
EVERYBODY RENTS. IF U THINK U OWN. DON'T PAY YOUR PROPERTY TAXES AND THE REAL OWNERS WILL PAY U A VISIT! 🤔 (EXLCUDING 100% DISABLED VETERANS IN TEXAS OR ILLINOIS WITH EXEMPTIONS)
Yes,its local authority/council taxes. We should all refuse to pay.
OK DUDE
Things are too tense in this crazy world to commit to any kind of debt. If you have debt…. Get out of it as soon as you can. ❤
student loans=debt
fancy new car=debt
wife=debt
kids=debt
house=debt
Your Right bro Imagine You Just Bought a 450,000 House and America goes into war/ lockdown or a new Covid or some Crazy Unexpected shit happens where you have to move, well there goes all your finances, your Credit, all your Liquidity is tied up and so much more damn i hate to say it but Tates right unless your thinking from a Real Estate perspective of being a Landlord i dont Suggest it
@@heedmywarning2792 lol..that is true because even kids and having a woman is debt. A woman requires time and money. You cannot take a woman out for free all the time.
@@heedmywarning2792 I don't have one of the above 🤣
renting is debt.
I am a single 34 year old with no kids. I rent a room in a two bedroom home. It is not where I want to be but listening to tate and all these other videos gives me a much better perspective of the way the world works around me.
Most people are in your shoes.
Ur loosrr dude
Also imagine buying a house to leave for your children someday. Paid off , THEY could carry on the legacy of Landlord status. Easily cash flow, or even sell the house for a profit. None of that is possible with just “renting”
He says he doesn’t own so he can just up and go wherever… yes because we all flee to romania on sex trafficking allegations lmfao
@@Baileyyyyyyy416 Most parents in the US don’t leave their homes to their kids. They sell the house once their kids have grown up and use the profit for retirement.
@@Baileyyyyyyy416 you can leave your children a massive cash flowing portfolio and it all be the same… who gives af about ‘landlord’ status except some goof 😂
Parking your wealth in housing is exactly what my old man has always said. According to him that's how home ownership use to work (was viewed) up to the late 70s early 80s when it shifted to a mindset of "I'll buy this house to make my money". Since that happened house prices have continued to rise at irrational rates. He's been saying for years that house prices in Australia are minimum, twice what they ought to be.
Damn, that is it.
And they can crash into negative equity
learn about inflation of Fiat money. Then you realize why and why the system is bad. Buy BTC.
Tate being a millionaire telling people it's easy to rent. LOL. If anybody who's not a millionaire listens to this logic, you're crazy as fuck.
I'm not saing buy in today's market....it totally sucks, but buy when it's time to. That time is coming in a few years.
And this fuckin' guy wearin' tight ass gym shoes with no socks. Bro.....I don't trust this shit no more. Fuck a Tate, he's starting to show himself, talks too much like a woman does.
Can't speak for everyone but bought my property a few years ago and my mortgage payments are far far lower than people i know who rent, and at the end of the day I'll own my property. I can see his points, but think for most average people/families, owning a property is the better option
How much was your down payment % wise?
You aimed for the middle.
It's going to be worth half next year son
@@mrsose1872
And provided you don't sell it next year then you will be absolutely fine. And FYI, it will not be worth half of its current value, what financial scare monger have you been listening to?
I also would say for the average Person buying a home s the best Option
Genuinely thought I was the only one with this mind set so refreshing to listen to this. I live on a boat and pay peanuts on rent and have all my wages to enjoy instead of being taken away from me, not interested in owning a house and tiring myself to a debt that someone else has control of
Yeah but you live on a boat. Like a tramp.
One of the great things about a mortgage is protection over rent inflation. Your mortgage might seem high after the first few years but over time, renting a similar property will far exceed what you're paying per month, including taxes. My dad's mortgage is 1200/mo in a nice city where renting a 1 bedroom is $2500. Its nice to be flexible and move around, yet each time you move there will be initiation fees, deposits, moving costs, and you get the current market rate. Being flexible has its benefits but there is no denying a long term contract will save you move over time, whether thats taking on a mortgage or constantly renewing your rental contract (over start a new one at current market rate)
not if your on a tracker mortgage
@@trivadpt Very true. Always do fixed rate or walk.
@@trivadpt I'm on a tracker mortgage and have saved a fortune over the last 11 years. It is also an offset mortgage so the savings made have gone into the offset which means I pay no interest ongoing. When the mortgage is paid I can release the savings and do whatever with it. If I have to move away I can rent it out and use the rent to rent a place for myself. When I retire I can release as much equity as I want from the house and use it as an additional pension whilst still living in the house. Only a fool would rent for life.
5 year term, you refinance during inflation now rates are high. Typically rates uses to be around 8-13%. Now imagine that on prices people paid during 2020-2022. They will get screwed.
Costs a lot more to maintain though. Evens out eventually. Only difference is you’ve made capital gains as long as immigration doesn’t take over in your area.
I've been renting for 20 years while my friends have all been paying off mortgages. I've moved around and had the flexibility Tate talks about but people need security and they think having a house and a mortgage gives them security.
@@noneofyourbusiness-c7h Could be dead in 5
Fair enough, but let's be honest for 20 years you have given someone approx. $1,200+ a month and made them rich so lets not act as if renting for the rest of your life is a good thing
@@MrJimmy3459 I need freedom and I like to move around. Renting for the rest of my life is an option, unless I buy a farm somewhere for cash. He's spot on about being enslaved to the government when you have a mortgage
@@leebillyc1677 Do you even listen to yourself? You're still a slave to the people who own the home you are renting. You give them over $1,000 a month and line their pockets, you've given them approx. $300,000 in those 20 years but yet "I dont want to be a slave" LOL!
@@leebillyc1677 Buying is definitely better for the average person with a job etc but in your situation which is an exception then of course owning a home isn't that beneficial if you're going to be paying for homes elsewhere while you travel, may aswell just rent and save having to pay a mortgage
Thank god I have never bought a house while we were living in Australia with my son as when cold hit we simply moved out of this tyrannical shithole and that was best decision of my life . I would never buy a property especially we live in crazy times. I agree with this man 100percent
You're absolutely right. I bought a house in Quebec, 11 years later the entire place went totally insane because of the sniffles and we were stuck with that house for 2 years in one of the worst places for covid in the world, and a population 90% who were full on petty tyrants with the emotional maturity of rats. We finally sold it and got it of there to another province, are renting and my husband and I split all our finances and everything will be in his name because I got a mask ticket there for not wearing a mask outside and yes, I'm expecting them to fuck us with that eventually. And I was with the convoy, donated to much of these things etc. Anyway I loved that house in Quebec, it was a very old house, we spent over a decade and thousands of hours turning it into an old villa but being stuck there in that open air looney bin where the government blockaded our region and everyone was screaming for more and most of our acquaintances etc turned on us or abandoned .. it was fucking hell and sure made me change my mind about home ownership. My husband will buy again but a property with no neighbors and we are strategically in a better location with a border nearby.
Ottawa 2022 hi five
buy house on wheels then, have a tiny land with tiny house just for registration and you can move and live anywhere you want.
ouin
I’m pretty close to leaving North America altogether. There are places with much more freedom and better political climates as well as much cheaper to live there…
So you got unlucky but typically on the US and elsewhere real estate appreciates in value. I can post a dozen opposite stories where they purchased for a few years and it appreciated in value and they walked away 100k in the black.
Most of the time you get most of not all your money back out the house with normal
Appreciation.
So you can’t make a blanket statement to the world not to buy real estate.
He’s waking everyone up what a g
Mate if you think not buying a house is waking up, you may as well go back to sleep. Buy a house when the time is right! You won't regret it
You should be waking up to what a clown he is. Pied piper mate.
Yeah getting people to rent and not own😂
All people that rent moan that they can’t buy
@@lukeatbrandynightful' course, just make sure you pay it by chash, otherwise it will own you!
@@lukeatbrandynightful ahahahah so true
The take away from not owning a home is, not being stuck in one place while the whole entire future of the world is unstable and prominently primed for war and social economic upheaval for the fallowing few decades. Mobility and flexibility is important because if you're region is severely effected by weather, government, war, pandemics, restrictions, crazy people, etc you need to be able to pack up and go and never look back.
Exactly! That's why I don't want to buy a home...it comes with many problems I don't want to deal with.
@@j-us-t_be-in-gmoney is problems
@@j-us-t_be-in-g That’s why people are making 000’s in rent income
I'm so glad I bought mine. Cost my 60k 25 years ago, valued at 290k now
Then you need to look into the years inflation, maintenance and taxes then you have your profit. 😊
Yeah that’s exactly what he said on the video, if you bought 25 years ago good job it was working before, your yearly wage was literally the price of the house. Now your yearly wage is 1/4 price of the house, that’s were the struggle starts.
Where are you living ? Iowa ?😂
Here in Melbourne australia its 8 x ur income, Sydney aus is 10 x income@@gaetanobanda7319
And hidden lifestyle inflation costs associated with owning vrs renting that builds up over time. And when you pay off mortgage you still pay taxes isurances maintenance forever.
This guy is bang on the money on how the world runs
Absolutely true, but you see comments here and you see in-real-life how many people WANT to live in "The Matrix" xD
All this money flows into pocket of people like him, because most people don't want to become rich. They LIKE BEING AVERAGE.
@@eightloco4258 That would take months...but start by tossing out the idea that your government, WEF, IMF, WHO, Central Banks and the finance cartels, Big Tech, etc. are here to help you and humanity.
@@milan51259 EXACTLY
Tate is right. I live in Houston and house appreciation is inflation rate thus maintenance cost eat you alive. People forget that houses wearout and you need to constantly be putting money into it. Then look at the housing crash in 2008 and now you are seeing housing prices drop again.
H town
The main problem with Houston is its too Sub-Saharan. Houston will crumble.
no Tate is not right, you're just not very intelligent.houses are not falling apart every 3 months and leaking money. you can go 10-20 years without doing any work on a house assuming you didn't buy a DIY with tons of known structural issues. if you own a house, your mortgage goes toward building equity. He owns a bunch of houses himself he just has them behind a trust.houses in 2008 are worth 4x the price now.
Good luck when you're 60, when there's no job to pay for your rent.
Life on wheels is only good when you have plenty of money.
@@Goth1que Even when the house is paid for, make sure your property tax, insurance, etc. will not become your new mortgage you can't afford in retirement or social security(if still exist).
I'm an engineer, been a finance guy all my career, know about investing and how to grow your money in a smart way and I can say: this guy makes a lot of sense. A lot of sense! Though for the average guy the only way to do property now is take a jumbo mortgage and hope for inflation to bail you out long term
As is with the case with a lot of miscommunication
the misalignment is in meaning and understanding and implication -personalization of
so people on here are saying don't buy or it makes sense to buy yeah well first of all just generally you have to find out what market they're talking about where are these people from where are they based if we're talking about buying real estate real estate is physical geographical land and there are a ton of implications that go into the valuation of those things so like in a place like New York the things that contribute to valuation is very different from the Midwest and we're not just talking about proximity or thing we're talking about culture and the communities values that go into the valuation of something like this and so that when we talk about things like this with such general terms yeah there's going to be a lot of misalignment and meaning and that's where the miscommunication comes from and that's where a lot of the the disease the unconstructive disagreements come from disagreements are good but there's disagreement that is just not productive
in what we should invest our money?
Buy cheap, get equity and cash flow. The thing is that you need to start young and live out of the place as you build that equity instead of throwing that money to landlords.
@@apersonontheinternet8006 what do you mean by get equity? my english is not the best
@@igorrosales1799 equity- this is the “gained value” in your property thru a combination of paying down your mortgage and, the value of the property rising.
You buy at $100,000. Five years later, the home you invested in is now worth $110,000. There is $10,000 of equity. During this same time period, you paid $8,000 principle off of your mortgage. This means you own a home worth $110,00 with $92,000 of debt…. And you could say you realized $18,000 in equity. ✌🏽
This is the advice you can give to a young person who does not have long term goals. I purchased my home at 20 years old and recently made 200k from the sale and bought a home for my mom mortgage free. If you have to live like a nomad from rent to rent then don’t commit to a mortgage
You completely missed his point. You are trying to justify your decisions which i get but your way is not the only way. He is making a point and that point might be useful for people who think like him. He isnt right or wrong he is just recommending things and explaining why. I understand his point and i agree with it.
How long ago did you buy this house? The market has changed in the last couple of years and many people would be in over their heads as potential first-time homeowners.
The problem here is that the little and this gentleman use the word never . I bought 6 years ago and sold last year. We are always telling people wait for the right time and 20 years later we are still waiting for the right time or we tell them not to buy at all but instead tell them is ok to pay 1600 in rent.
Btw 1600 rent to pay someone else’s mortgage
Oh by the way. I purchased the home in Florida for my mom in November 2021 . The home is now 80k more than what I bought for last year not even lying.
Friend of mine bought a house in West Sacramento CA in the 80's. She lived there with her deadbeat baby daddy. The neighborhood went badly south quickly and so did her relationship. Neighboring houses were abandoned, boarded up or burned. She, with the only income, was stuck with the loan. She went to the bank and cut a deal. She showed them pictures of the area and the fire/crime reports. She threatened to walk away from the house. She got them to clear her off the loan and transfer it to the baby daddy. He was happy to take it because by then, rents had risen above what the house payment was. She lost her down payment but at least she was clear.
💯💯💯💯Exact Reason why Most of the time buying a House is bad, but unless you study real hard and your a Real Estate investor thats the only way i suggest it barely at that too
That property worth so much now I bet she can't buy it back for the price she got it!!!
If I were her I'd have gotten investors to rally and refurbish the houses in the area including my own house to raise the value of the overall area, cut a deal and make a fat profit.
Each life we live, we live not to gain material wealth, but to gain the wealth of knowledge on how to live.
What do u mean by “each” life we live?
@@waytooready3898 We are immortal beings, we have lived iives and have lives to live. We dont need to live in fear
Rent is buying someone else's house for them.
Exactly. Same as leasing cars - you’re paying the depreciation of someone else’s vehicle.
Wealth and prosperity lies in ownership. Having equity in assets
@@jimmydigital True, wealth does lie in equity. But in becoming wealthy you quite litterally have to sell your soul and become a slave to the system, thats what Andrew is saying. You might drive a better car than your neighbour and you can leverage your equity to get a big loan at the bank to finance your bussiness or buy a buggati but to the game you stay a slave.
So what is a job?
@@grizzlegreezz9696 What's that got to do with anything? ... over a period of 25 - 30 years of working you are not sitting on an appreciating asset.
People work a job to make someone else rich.
The tyrannical government thing would have sounded crazy 10 years ago or before 2020
to quicky summarize:
1. Buying a house means tying your life for 20 years for something which requires UPKEEP.
2. Owning a house requires you to pay for other things such as upkeep and landtax.
3. It's not an easy way to "get money when you need it", in other words, if you are limited in money, you lose out on money opportunities.
4. "you are tied to a country" meaning If you put a huge portion of your income into something, it makes you stick to that area more, because you put so much investment into it.
In other words:
If you are young (18-25) it'd be better to rent so that you can make more money without the nuances of fixing your house upkeeping it etc.
It's MUCH better to rent if you dont correlate your time to a fixed salary.
If you do, it'd be better to buy a house.
Ehh, What 22y old just left school is going to go buying a house heshe couldn't even get cause heshe can't even show certain income figures one needs to show if buying a house🤷♂️
That's JUST DUMB
✌LOUIS CYPHER
@@COMMON-SENSE501 well the whole point of this comment is NOT to. Even when they are older, but there’s a lot of people who can.
people who want to get into real estate, People who just got their bachelors make 50-80k a year that want to get a mortgage on a house, People in rural areas with cheap housing off the top of my head
It’s also terrible advice…..
maybe it works for four times kickboxing champion‘s etc …. It it’s terrible advice ….
@@LanaBlakelyClips 😉sorry,my bad!! I get what you're saying👍
Louis Cypher salutes✌
This is what everyone does anyway so I don’t see why he thinks this is game changing knowledge
Buying a house in early 2019 was the best decision of my life.
Why?
@@thatisabsolutelykooooge2211 For me it was the fact that the housing prices in the Netherlands were rising stupid fast, I only bought a house knowing it would go up in value in a few years. Purchased in 2015, sold with a nice profit. Currently renting an appartment just like before, but with a healthier financial situation. According to the latest calculations there was a deficit on properties of around 1 million houses ( the Netherlands is not that great anymore) Prices are still rising but I won't do the same thing again as now you can already see the prices stalling (nobody can afford them anymore) If they will go down again for whatever reason, I might do the same, but it depends on so many factors. Interresting times!
Of course it was. It always will be.
Best decision in your life? So paying a life long tax and insurance on something you technically never own. Every land and property has a 99 year lease on it and you do not own it. Look into it and your mind will be blown.
@@boozelala nice!!!
Look at the average returns on a home versus buying the total stock market. Stocks always outperform housing in the long term. It amazes me the comments on here where people say they bought a house 20+ years ago and made money, but failed to disclose what interest they had to pay over the years, property taxes, sales taxes, insurance, permits, maintenance, upgrades and realtor fees etc. You need to subtract all that and then you will really understand the percentage you made. It's not what you think it is. Houses don't pay monthly dividends. They are not liquid. Renting buys you freedom to move quickly and buys back your weekends not spent at Home Depot etc fixing breaks. Houses need feeding money every month, even after your mortgage has finished. Property taxes, insurance and maintenance costs still continue.
I owned property in the last human city of Zion, Tate speaks truth
Finally. Your're back.
On the flip side, my current mortgage payment for a house I purchased in 2010 is $1130 per month. The current rent for the same size house in the same area is $2500 per month. With a fixed mortgage, your property taxes and insurance may go up but the principal and interest portion of your mortgage payment is going to remain stable. Not sure you can count on that same stability with rent. And I’ve built up 12 years worth of equity. I get the “flexibility” argument for renting and I agree that there are expenses associated with owning a house. Bottom line though is you need a place to live. Most of us will be either paying rent or making mortgage payments for a good chunk of our lives.
That was after the last winners curse phase in the real estate market you will be seeing it peak again and crash in the next few years.
I disagree with tate on this. I bought a house last year. I’m “in debt to the bank” sure but I only pay the bank $1300 a month for mortgage I rent out 3 bedrooms earning $2000 off the house. And I live in the 4th bedroom for free. That’s flexibility. If I wanted to move I can while my house is taking care of it’s self and paying for it’s self while I’m living where ever. Come back 30 years later to a paid off house
Problem is when things don't go the way you expect. Example: The Canadian trucker who thought he could stand up for his rights and got taken for everything he got. Personally i see most men get destroyed by women using the government to take everything. These are all generalizations. The point he's trying to make is that the society our parents lived in doesn't exist anymore. You can't be an average worker, buy a house, get married, start a family and live like your parents did. Things have changed. It doesn't work out for most men anymore. So they need to find alternative ways. And don't assume that the things that worked for their parents generation will also work out for them. Because it most likely won't. There are exceptions, but exceptions don't disproof the rule. Generally speaking: A young guy trying to do what his parents did will get screwed.
I think you missed his point. And he would mostly agree with you sense you're renting rooms. Most people aren't renting out rooms, and it is still a fact that after you've paid it off, the government can still seize it for any silly reason. Governments have been growing bolder, recently. You might not like the jurisdiction you live in 30 years from now, and your house might even no longer be "yours".
I think you didn’t get the point.
30 year mortgage is so stupid. A 15 year loan monthly payment is less than 10% more to start creating equity a few years later. A 30 year loan is rent plus a lot of responsibility because will take 15 years to start building equity.
Well if your tenants move out you might get stuck
I totally agree with tate, people are buying things they cant with the help of bank and then waste the rest of their life working to pay bank. Banks get richer while ur property will get old and time for new property. If you hv cash buy it otherwise wait for it. Renting is very small compared to owning. It applies to every thing even cars.
False. It depends. Anyone who bought before 2019 quadrupled their equity (down payment) and their mortgage after tax deduction is half of the rent they would pay. I am one of them . I can move anytime and rent the house to someone like you and have you keep paying my mortgage and make extra money every month and still write off taxes. I have two HELOCw on it. $hit hits the fan? I will withdraw up to the full limit (close to my equity) and walk away.
Ur ganna slave away either way.even tate still slaves away for money
@@murat8194 True, covid did me a huge favour. Bought a place for 150k, did 20k renovation, covid kicked off and everything went crazy. Sold for 270k.
This only applies to rich people with disposable income, not the average person.
average people have disposable income. Have you not heard of pennies?
😂😂😂😂😂😂😂😂😂😂@@heedmywarning2792
I totally understand this method! I’ve been renting a house for several years now due to exactly what he said here and past experience . I did buy a house years ago and fell into the financial decline when the job market crashed, I was laid off indefinitely. I had two vehicle payments, house payment, property taxes, Insurance on all three and everyday expenses wiped out my savings in less than a year. I couldn’t sell the house due to everyone was in the same situation. Fist my vehicles were repoed after 3 missed payments. Banks refused to work with me. Then came the house. Literally foreclosed on me. I stayed in the house until they forced me out which bought me time to earn enough cash to rent a home and stash cash without using any bank. I paid cash for a used vehicle. Now I’m financially free from all of that debt. The government is ruthless when it comes to thinking you own anything. I can pick up and move anytime I want to. I don’t pay property taxes or insurance. I don’t pay a dime for any upkeep of this house either. it’s actually liberating when you think about it. When everything was being pulled out from under me I felt like a failure and went into a deep depression thinking it was the end of the world for me. I’m actually happy I went through it. It woke me up to what’s really going on in this world and how wrong I’ve been in believing everything I was taught is a complete illusion. Everyone has to make their own decisions on how they want to live and I believe Andrew and many others are really trying to teach this generation and generations to come the truth.
Would renting have helped that situation though?
@@estarr86 yes because I wouldn’t of had all of the interest, taxes and insurance payments. Those payments alone would have bought me a lot more time in renting. Now- had I not had the cash to rent, I would have family and friends to stay with and not worry about the house payment etc. I did end up having to file bankruptcy after all was said and done because even though they took every thing I was still responsible for the loss the bank. So that’s another valid point. They take your property and you are liable for the back taxes and loss the bank says they took. It’s really an insane corrupt system. I’m just glad to be free of all of it now.
Same here, almost homeless with the same situation but my family found a way after foreclosure
So essentially Andrew owns property but under a company instead of his name. so if 'they' ever came for his assets they couldn't legally do so?
Yes, most multi-millionaires do this. Even Dave Ramsey said he does that as well
No.
He owns a trust fund in some South American country.
That trust then owns a company somewhere in Asia.
That company then has a shell offshore location in Europe in some tax haven.
He then lives in the house that company owns.
Good luck having your local government tax him for his income.
yes. people who has f*ck you money do this.
Well it hasn't worked for the oligarch's who have had their super yachts confiscated.
@@philcliffe6909
Governments can justify just about anything when war's involved; that's why they like to get themselves involved in wars.
So I shouldn't pay 800 a month for a house that if I rented would cost me 2000?
Andrew Tate is talking shit...For us normies, buying is always a better option if cheaper than rent. Had an economics teacher many year ago spout the same bullshit. The full class just laughed as we all knew its shit. Very few of us are globetrotting sex pimps...Andrew isn't speaking for the common man.
He doesn't own property, but he owns the shell companies that do to avoid taxes? Twat.Tate is a man that would be good fun for a few weeks, then you'd ghost him as he's a pain in the arse. I'm paying a mortgage on a bungalow on a 1/4 acre of land for less than the rent on a pokey council flat. And my mortgage was only 15 years, Renting is only paying for a house for someone else. I'll be mortgage free by 56, I'd never be rent free...Tate's living in his own fortunate fantasy land
Wrong.
Uhhh you buyin a house in the ghetto?
Lmao people don't understand that a mortgage payment remains fixed while rents are always rising. An $800 mortgage payment means the property was acquired years ago (or large down payment).
Doesn't add up for most people. The money you pay in rent and the loss of autonomy vs paying a mortgage on a property that will be fully yours/your kids, the equity you have in said property.
Furthermore, if you need to move for work, then you can rent the thing.
Bitches not having kids no more
There are pros and cons to both. Depends on what you want out of this life. Some may be on the move a ton so having a permanent "home base" might be a good idea. For others the idea of owning the home only to rent out forever might be the move. All I know is as you move up the ladder and get older you end up buying a place and in multiple places so when you're not living at one you offer short term rentals for the rest because you understand the value of your time and nothing should go to waste on unused assets.
Just rent out the rooms for your house if you want to move and that house will give you passive income and pay off it's self. The money that house makes you could also be paying off the rent wherever you move to. However, I would rather buy a second house and do the same thing instead of rent. As long as your debts getting paid off by other people, you're profiting/laughing. To the point where it's not even going to feel like your debt. I mean really... It maybe debt in your name, but you aren't actually paying for it.
own property = own a piece of paper saying its yours that the state enforces until they dont
Pay 10K a month in rent
1982...bought house for £16000...earning £9000.low mortgage rate no rent gave me freedom to travel when i wanted and work when i wanted.
It takes months to sell a home even with a buyer.
I bought mine in 30 days from offer to keys in my hand
@@evictioncarpentry2628 had cash?
Remember in the 50s, there were GI home loans. Unfortunately we also lost the idea of transferring family assets. Basically, inherentance tax.
You come into this world with nothing and you leave this world with nothing.
It's never about you but always for the next generation. Build your empire enjoy the journey and leave it to your offspring so they will be in a better position earlier!
@@magenterprise6340 I suppose you have not heard about the WEF slogan, "You will own nothing and be happy" then?
Best comment here
@@magenterprise6340 yeap, exactly... Ive inherited and I firmly plan on passing on more to my son than I got from my dad. And that's how you perpetuate the cycle...
@@andrewmorris6187 Think!
Owning my house outright has made me pretty much immune to any of the interest rate hikes or other economic issues arising these days. The opposite in fact. I'll be happy to see 20% interest rates like in the late 1970's. I can lock in some GICs at 19%.
Forgive my ignorance. Whats GIC
@@rzone9546 It is like a bond.
I had to walk away from my Chicago condo during covid. No one even looked at it while it was listed. There was a mass exodus from the city. There were 17 units that went up for sale in my building alone, within the same month I listed mine. Glad we left, but it takes years to recover from being unable to sell real estate due to a drop in market value. Rent isn't a choice now, it's a given.
*The fewer things that you own, the fewer things that own you.*
Now, that is an ultimate bargain in this time and age we live in.
Well people who own there home don’t pay no rent and can rent it if they decide to move else where. Rent a home and the price keeps rising and you can be kicked out trying to find a new suitable home. Many people who have a home have also seen a massive increase in value and can sell it!
I ain’t married and definitely not buying a home my corvette is almost paid for I love the feeling of no debt no way I would commit to anything in these crazy times
Very informative video! Makes a lot of sense! I have "owned" 2 homes. Made $60k on the first sale and $75k on the second sale. Now I rent. The thing that really stuck with me was why pay a mortgage on something that you don't really own that can be seized while paying interest, and also property taxes. I have been recently looking at purchasing versus renting and it was tempting to buy until I heard this. Example, I was considering buying with a mortgage payment of around $1.7k/month but would have to come up with $40k for down payment, plus upkeep costs and potentially lose value in the house when the market crashes, or I can rent for $1.9k/month and just come up with a month's rent payment for deposit and be done with it.
To summarize:
You 2 times successfully speculated with real estate by leveraging somebody elses money for your own gain. Good job.
what about buying a small house or apartment? only for yourself
Instrument
It can't be seized if it's paid off
What happens if real estate goes up 40-50% in the next 5 years with the kho v1d hyperinflation?
@coasteyscoasteys4150 it can though if you don't pay taxes. They always own you somehow.
Bought my family home seven years ago, (babies need a home).....it has gone from being 'worth' £235K to £380K ish.
I would be mortgaged to the absolute brink of poverty trying to buy it now.
The wisdom of home ownership depends on your situation and market health. I’ve owned 3 homes. I’ve been renting for the past 14 years and don’t see a reason to own another property, even-though I could afford to. My rent is $700/mo with electricity included and $20/mo internet. No cable bill. I pay $7.20/mo thats it. All repairs are handled by the property owner. I’m not a slave, or prisoner to a house and property. I pay rent month to month and can pack up and leave at any time. Also, to Andrew’s point, you never really own a home. Even if your home is paid in full, if you fail to pay your taxes, which may be exorbitant, your property will be taken by the government. Lets not bother getting into eminent domain, which is another way the government can just take your property.
I'm glad I watched this to the end.......because the main thrust of his argument I now get. How can it be that we have 'fines' set at a certain limit for everybody? They should be set at a percentage of your TOTAL wealth. That would be equitable and fair. They are set how they are, to punish the poor and very, very, very slightly, inconvenience the rich.
Solid interview, but that beat at the end sealed the deal 🔥🤟
Top video! Thanks to both Interviewer and Tate!
Muchas Gracias
This is true. I agree 100 with Tots especially with the ownership part of the property. I was about 8 or 9 when my family bought a house and now I'm 29 almost 30 and the house still isn't paid off yet.
It's true, but the house going to be yours.
@@ilaAlia007 when you're dead 😭 unless that area grew in value and sell it
Learn from the mistakes of others.
My father worked his whole life. He had a house. Then the war came. He died. The house was sold for 10k (basically: nothing).
He worked his whole life for laughable 10k.
You should have refinanced along the way. Even if you're still making a house payment I'm sure it's cheaper than rent.
In 2019, homeowners in the U.S. had a median net worth of $255,000, while renters had a net worth of just $6,300. Great advice.
Property owners have enjoyed huge appreciation. People buying today won't sell for 300% or 1500% in 25 years as buyers from the 80s have enjoyed. Context & timing
Renting dosen't give you the flexibility to up and go - you normally have a years lease. If you own - its easy to find a tenant. It does mean you can be asked to vacate and have difficulty finding somewhere else.
Raia , I feel that Andrew was saying, do you really own it when various factors come into play ? That is why he was very careful to say unless you structure the purchase of your home or property so that it isn't connected to you, then governments and individuals can seize your assets and the average person can't afford to do that.
@@hmapp Put the house in a trust early enough, and they can't touch it. Only costs a few £ks
They can't push you out like that without finding a another place or 3 months notice. There are laws that are pro tenants in the States.
@@PamphileJonathan each state is different....
He’s 1,000 percent right. I’ve made and continue to make a good living. Property just isn’t the answer for most. Now I can buy a house but there’s no point my roi on my other ventures out pay what I would make from a house.
Index funds are like rental properties without the headaches
He speaks the truth especially when he said about living in a tyrani slavery.
You’re renting a house. It’s called Property taxes. Then add upkeep and possible HOA fees
It certainly highlights being careful of where you buy a house, and I hate that the barrier to entry for first time homeowners is so high because of this. That being said, our taxes are 6k yearly, HOA 4k, and upkeep costs are mostly covered by the high HOA. Looking at rent in the area for the largest house closest in size is 5k/month. Considering interest will cost us about 30k total, and if the value drops 50%, you would need to rent at least 4.25k monthly for the same 5 years to equal the loss of value plus expenses, and unfortunately that means ownership worst case is net positive by 45k, best case you come out ahead by another 175k if prices don't drop. The only way you can get ahead with renting is to rent smaller cheaper apartments, which are all filled up here (yeesh I didn't know until I now) or find roommates. I haven't crunched the math but my guess is you could save easily an extra 40k in that time span then use it as down payment for the house.
correct...you might own a physical structure but you will never own land its on...
He says “my property never lost me me penny, sorry IF I owned property it never cost me a penny” trying to redact to stay in alignment with “don’t own a property”
Well in another video when talking about his net worth he starts talking out loud about how he has never taken the time to assess the value of ALL of his properties.
Your properties have no value and don’t contribute to your net worth if you are renting so he’s obviously lying.
He does own properties and he’d be a fool not to own and decide to rent instead. He truly doesn’t believe it’s a better idea to rent and neither should you.
This really gives you some good insight into his moral character. Classic behavior of a hustler, founder of hustler’s university. There’s fraudulent info on there in the crypto section specifically about estimated net gains so don’t say I didn’t warn you.
He is a hustler for sure, if you read into what he says there are inconsistencies yes, but most of it is down to privacy and being a good story teller. Every good story teller embellishes there stories it’s not that big of a deal. It may be true what you said about the crypto section but In the early days of Hustlers University I was able to nearly 30x with one of his calls on Pancake Swap, bought at £1.15 and sold for £28 and many of his calls after came through, and tbh they were open about having “insider” or “secret” information in the early days of HU on 2021 🤷🏾♂️
As a person who rented for 15 years and now a home owner for a year., its about location and expected income over say 10+ years. Buying a house is CHEAPER than renting. I live in New York. Andrew is both correct and wrong at the same time.
We had a new landlord who put section 8 tenant and they are the worst tenants in the over 10 years of living in this place. Renting is not safe
Move out and rent somewhere else. Problem solved.
@@milan51259 Temporary solution
@@kaptain1477everything in life is temporary including life itself
Proudly (more relieved) former-homeowner and I strongly agree with Tate on much of what he says. Where I bought, I quickly realized that my fantasies were foolish and the city saw homebuyers as the harvest, the sheep to be sheared every season. The homeowners are the crop for them. To be used by the city establishments and institutions. Homeowners are their income sources. You aren't a home OWNER anyway and are no different than a Renter (with more to lose). This isn't your land. This is the city/town land and you're a temporary resident as long as you're paying to reside there. Tate is correct that you can always lose your house. It's not your 'home' either, its a house that belongs to that city and you're paying to stay there. They can take it from you always. Don't pay your taxes and a city judge will have the city take their home (not yours) away from you. He's not wrong about masks.. tho it sounds extreme.. in theory you can get fined and ultimately they can take it from you. But never mind the extreme cases, when you buy a home now you're a glorified renter hard-fastened to the expense. Yes, there are 50 in 1000 for whom it will work best. For 950 others its being fleeced, fooled, used and tied up into a kind of trap that you'll pay into until your so old that maybe you can sell and have enough leftover to cover the last 3 years of your dying life in a seniors home or hospice and hope you die before that money runs out.
Have three friends at the moment moving as their landlord sold from under them, we are in a housing crisis and struggling to find new accommodation. I'm so grateful to own a home - and we own it, its paid for, as we bought a simple home, nothing too large.
@@raia9 It's not such a bad thing when you're retired and don't need to have a job or anywhere to move.
What city are u in?
@@elliottalderson6443 Why the hell would you ask such a question? Are you one of these internet people who says what city they're in and asks 'Anyone else?'.
There are 180,000 cities on earth. 506,000 towns. What is the chances I will say the name of one of the 3 cities you've live in in your life? "Ohh.. ya okay, my brother lives there...".
Really, what's with that?
Here, you tell me what cities you would ever have lived in then I will tell you if it's one of them. The chances are astronomical.
It's really weird how often Americans do that on the internet more than any other people on internetworld.
"Anyone here from 'MD'" they say some postal abbreviation like we all know good ole 'MD' "hey anyone else from Pioria ILL?" as if they think the internet is somehow a local TV station in their region.
Anyway,
what city you in?
@@topsuperseven7910 I'm not reading all that dude. Just trying to get an understanding. I would settle for the state or province...
Good answer from Andrew. He is wiser than I thought to be honest. Lot of a discussing to make the point but that was more because they where going deep about possible ownership. Even your own life can be taken away in a glimp so as long as you understand you will never own anything accept your thoughts.
Just say it how it is Andrew. Mortgages are HARAM!
Lol are you even a muslim?
Whats the alternative?
That suit is fire
I haven't had a house payment in 14 years. Think about how much money I've put to other things over the years.
I approach my landlord to give him the rent. He stops cutting the grass, takes my rent check, and says to me "never become a landlord." He's raised my rent 5% every year.
The landlords expenses are also going up and he wants to maintain his lifestyle and the lifestyle of his wife and kids.
Seems like he's looking at it from the point view of someone who does illegal things and worried about things getting seized
Yes and no. He might be agains the popular opinion and being a public figure as he is, he just say what is best for someone who want to express opinions without being jailed for that.
IT seem that having an opinion agains the gob on any country almost, is like have a death sentence (or as you say, is an illegal thing).
@@carlosemiralonso7997 oh i don't know much about him i saw him for the first time a few weeks ago and now all the sudden everyone is taking about him that i watch
I've paid my mortgage of so now I don't have to worry about monthly payments for the rest of my life. Its a no brainer
Someone’s still in the matrix. It’s an illusion my friend. In reality you don’t really own anything. Even if you built your house on your “own land” you would still have to pay taxes to someone. You have to pay to drink water and taxes for roads to be repaired. The only thing we don’t pay for is air. Your birth certificate is technically a receipt. Even to marry you need permission and have to pay for that as well. You’re no less a slave than the rest of us. You have to have a travel permit to travel in the form of a passport you have to renew for a cost. Tate said it best anything that can be taken from you you don’t really own. You’re born into a system that is designed to keep you in that system and your off spring which is why it’s not so easy to just give your home to your children. There’s even rules to how much money you can give someone without tax implications.🤷
Until you piss someone off or your government goes rouge some way and your house is siezed. I think he makes an excellent point in that.
@@ablemad1 This.
Dude you dont understand we have to pay taxes unto Ceasors what is Ceasors and God is what is GODS period. We cant escape the place that has streets for you and Ambulances and medical services. How else can we have a Government without a Government. There is no way around this. This is what perplexes me about these dudes. How do they think to escape that which is there to serve you?
@@sbfhawk4343 That's the point, it isn't there to serve you, it's there to serve the rich...
Owning real estate is right for 2, and only two, buyers:
1. You can buy the home outright, so no interest to the bank, and the cost won't make or break you
2. You are using it for cash flow, to have a passive income, and the tenants are paying the note
Everyone else should rent, until further notice.
Any thought on opportunity cost of tying up several hundreds of thousands of $ on a
@@aba192 My Bitcoin investments have made me over 5000% over the last 11 years. I can buy and sell you, and not even notice the transaction. Checkmate.
In two years my friends home more than doubled in value. You have to know when to buy and when to sell that is key. These days the so called Matrix does not want you to buy a house, they want you to own nothing and be happy.!
Not quite. They try to scare you into thinking you won't be able to own anything in the future. That way you jump head first into 'ownership' any way you can. And that's how they have you.
nah my parents never bought a house and before I was 18 they were both forced to leave their place of birth because they couldn't afford the rent in their hometown. Had they bought houses which they easily could have when houses could be bought for $70k in the bay area, they could easily have been real estate millionaires simply by making basic adult decisions. I watched houses in my parents neighborhood go from 300-400k at the start of middle school and them selling in 800s by the time I was in highschool a few years later.
I bought my house in 2019 somehow, it seems like overnight they tell me I've already got over 300k in equity That's more than I paid for my house and my mortgage costs me less than I was paying to rent a 1 br apartment.
You can never be truely free of the matrix without becoming homeless and living off grid or independently wealthy with multiple streams of income entirely segregated from you and set up as a nameless LLC using only numbers who than pays another nameless numbered company X, Who hires you allowing you to draw a salary from company X.
most of the country is not the bay area.
Real estate is one of the most profiting markets. If you are wealthy its very much worth just to build commercial where companies cna rent from you
@@J-_-S it depends on which country
Bought a crappy cabin in 2017. Fixed it up. Put it up on air bnb and now it pays itself and my current rent. Left my 9-5 at 33. Now chasing some childhood dreams. What did i do? I bought a house
Property should never bottleneck your cashflow
Doesnt need too if you buy a simple, not too large home.
Do you mean as opposed to paying significantly more per month on rent? Deposit aside in the UK renting is a terrible idea, those that do rent only do so because they can not get a deposit together.
@@usefulrandom1855 I put my money into the stock market while renting in the UK for years before buying a house, and now I have a house plus a bunch of stocks
I'm lucky I inherited a house in Fulham London from my late aunt.. and wow they still were relentless with their claws trying to make me sell it or pay this.. pay that
Who do you mean by they Emmett? Family?
@@TheAlphaMale2271 the government
I bought an off grid property back in 2019 for $330k now its worth 700k i lived in it for a year but have had to move 5 hours away for family reasons i just rent the house out and that keeps the mortgage insurance and council rates paid every year. I also get 800kg of meat every year off my land. It is now my retirement plan.
"The Matrix hates me"
Ironically, dressed and looking like a character from the Matrix.
Tate is a multimillionaire he can rent for the rest of his life and he wouldn't feel it, the vast majority of middle-class people it is better for you to buy a home and pay if off.
And when he says he doesn't own a home he actually does, he owns the house he has in Romania, but the house is under one of his business names not his name. Which is nothing out of the ordinary for millionaires to do in case they are in any sort of legal trouble they're personal belongings are off the hook.....
@@MrJimmy3459 have you paid attention to what he said ? He said that buying properties is a bad idea unless you can pay it cash, thus avoiding becoming a slave of any bank through mortgage
if you don't have the means to own the property, rent it. That way, you gain flexibility
That's it, pay it off like a slave for the next 25 years like a good little boy. Even after that, for one misdemeanour the government can still take it off you. And make sure you don't leave the toilet seat up too often lest you incur the wrath of your wife who can also take it off you at a whim.
@@craigsmith2755 have fun being 80 years and still paying rent
Tate lives in a warehouse with black cladding and filled with supercars, rented to not.
After investing in commercial property as well as residential, i can say this is very true. Its like im a security guard for the government and im collecting the income from the properties . I own 7 exotic cars including rolls, lambo, amg gt black. Yes they r worth millions the properties but u never truly own them. I had 24M Worth of real estate at 33 and now live comfortably still in my late 30’s. Tates advice is so true as is Dan penas. I used to dress up in a suit and go to Lamborghini dealerships when i couldnt afford one, now Lamborghini comes to my house to pick up my car for servicing. Listen to Tates advice, will get u far in life or listen to ur government and remain poor and b a sheep.
Put 100K in the bank or put 100K in a house and see which grows in value! Love these smug self assured know it alls!
Or put 100 k in crypto
Or put 100k into a business
If you took 100 men and they’re all aged 25 - you ask them what they want out of life and they say ‘I want to be successful.’ Only 5 / 100 would become successful and the reason for that is conformity. ~ Earl Nightingale
Hmm, my mortgage has SIGNIFICANTLY dropped in the past 20 years since I bought my house.
My mortgage is now HALF of what people currently pay to RENT a 1 bedroom apartment in the same area...
And landlords raise the rent as often as possible, but unless interest rates go CRAZY, my mortgage rate will keep going down...
And if the government goes enough to shit that my bank mortgage is no longer relevant, then we have far bigger problems!
If he truly thought "they" were out to get him he wouldn't be hanging out by a window
Most people in Australia and Canada and other Commonwealth countries forget they are on Crown land, Charlie owns your house and can take it any time 👍
In Canada they're trying to give the treaty land back to the natives and then the UN will try to buy it from them
@Redford Kobayashi mite want to check lol, even real estate agents know this. Crown land can be taken anytime.
@Redford Kobayashi yes, if you read and understand Crown Law, you can own the house the land is Crown Land, it can be taken anytime.
@Redford Kobayashi I think he is technically right, and the ultimate ownership can be taken by the Crown. But good luck to the Crown if they try to take the homes of everyone in the Commonwealth. The Royal family and Crown would be obliterated in no time. There are many more of us than them.
The worst enemy anyone can ever have, is piss off the man who wanted to be left alone. Because once that man loses that and is forced to fight, he fights with a fury and vengeance that can't be stopped, as he knows he's can't go back to being the man he wanted to be. I think the saying goes something like that.
Owning your own home is important. It gives you security and certainty. The western world currently has a rental crisis. 50-100 people going for one rental property. Storage facilities are full so there is no-where to store your chattels between rentals. When interest rates are low a mortgage is cheaper than rent. The best philosophy though is to diversify with both active and passive income at the lower risk end. Have a mix of rental residential, leased commercial property, shares, cash, gold/silver, and an active business. If you want high risk then crypto and gambling. NEVER buy depreciating assets like planes, yachts, cars, jewellery, clothes and shoes at retail prices. Try and buy at your price not theres'.
Andrew Tate promote the “you will own nothing and be happy” 😅🐞
He’s been to dinner w Klaus.
So as Ghandi and mother Theresa and the monks.
I lived in a van for 9 year's, never got married, never had kids. I had life savings plus what i earned in the 9 years. Put a massive deposit on a house down. Then set the house up as air b n b and rent it in the summer. It will be paid off 4 years after i bought it.
That sounds incredibly sad. You should get a wife
@dsquared7059 Not at all. Most of my friends are now divorced, have fought battles for their kids, and there ex wives have got a big payout or have kept the house.Ill stick to having a girlfriend and enjoy my money as i get older..