Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
the transfer tax is a joke. 5 million in FEE's? just to transfer? hahahahahahahaahahhahhahahaaha there should be a cap rate of 100k or something. so STUPID
This video just highlights the stupid ways that the government finds ways to take more and more money from people by adding all these stupid and unnecessary taxes
@@blairmacdonald9632 you can say what you want. To some degree we're all unfairly taxed. But specifically the wealthy people are hit the most with unfair taxes. The taxes listed in this video are stupid and unecessary. And I don't care what you think but just because someone makes more shouldn't mean they're taxed more. If everyone was taxed at the same rate wealthier people would still be paying more taxes than everyone else.
0:53 You DONT have to be a Multi billionaire to buy a 250M penthouse.A multi millionaire can easily buy that apartment-even with a net worth of 600 Million, one can easily afford a 250M Penthouse
@@GG-tf1tc The apartment is only 250 Million, what if someone has 800 million in cash? 800 million is not a Billionaire therefore a multi millionaire can easily buy 4 of these apartments using their accumulated wealth on a 10 million per year salary
@benjamingray6162You don't need to be shoc_ked , ca'use am also a hu'ge bene_ficiary of Ellis Gregory. he helped me reco'ver what I lo'st tryi_ng to tra'de for myself
For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
@Craig Daniels Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@@tatianastarcic True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
@@maiadazz Having a counselor is essential for portfolio diversification. My advisor is Melissa Scott Glazner who is easily searchable and has extensive knowledge of the financial markets.
Mr. Serhant how can you possibly use this as a stepping stone to take your career higher?? You already mentioned that this was the highest residential home in the world xD Real talk though, as a numbers guy I appreciated this breakdown. Great video!
It's actually very reasonable. For someone making over a billion dollars paying a tax of $19 million, it is the equivalent of someone who makes $50k a year paying $950. Not nothing... but not that insane either. And that $19 mil means a LOT less for the billionaire than the $950 means to the average joe
📌Do what everybody else is doing if you are okay with only having what everybody else has.Information that will pay you everyday, you've got to stop saving all your money. Venture into investing some, if you really want financial stability. Choose to grow and elevate your mind by studying audios, videos, attending conferences that will give you the edge!
Lately I’ve been thinking of buying cryptocurrency for retirement, I’ve set asides $350k to invest but along the line,I usually get cold feet, maybe because I have no idea what I’m doing, please I could really use some guidelines.
@@pucciofabrizio7053 In situations like this,I always recommend to people on getting guidance at least from someone that understands price action and all that while you strive on improving yourself by watching videos and learning fundamental analysis.
@@anthonythobias2034 I used to invest on my own because of making your money work for you mentality but never made any progress until I sought the guidance of Juan Antonio Landa and she has made me understand that strategy is everything.
NYC bureaucrats seem pretty entitled to other people's money. I don't understand why billionaires would want to live in a city that has so little respect for them.
Go get 'em Ryan !! You CAN do this !!! NO other broker has what it takes to make this deal happen. YOU CAN DO IT ! MAKE IT HAPPEN RYAN !!! SELL THAT PENTHOUSE !!!! 3, 2, 1.... GO !!!!!
I’m curious what differentiates an $80M, $2M and $250M home. When I clicked the video, I thought you were going to break down HOW/WHY a condo could cost $250,000,000. Nevertheless, great video as always. Informative, clear, and concise ❤️
Location, location, location. There’s homes in NYC that are millions of dollars. Take that same floor space and go to NC or TX and the price chops in half. The materials used to build the place matter, but it ultimately comes down to location.
I want to know how your commission breaks down. How much of it goes to your company, how much of it goes to your marketing, how much do you pocket etc.
Got home paid off, auto paid off, gold, silver, crypto (on cold wallet storage), credit cards paid off, cash for emergencies, solar backup supply food, water, and most of all, Jesus ..and many priests on the batline. Investment is the key. Thank you Mrs Sophia . Peace be with you, your family and your cute investment , Nugget.
I’ve loved your transparency and the polite way you always talk towards people, on your videos. If i were up to buy that apartment, i’d pay you 10%, instead of 6%. Sadly, as you may imagine, I dont’t have enough money to buy that beautiful apartment. LOL. Wish you a sky of success!
New York State Transfer Tax and Mansion Tax blew my mind 🤯🤯. People loose their minds over the 2% transfer fee at Canyons Village here in Park City, Utah They should come watch this video because then they will realize it’s a freaking deal what they are buying in comparison!! Good Luck with the sale can’t wait for the video when you get to say I FREAKING DID IT!!🎉
It's really about the connections/leads u have. If ur able to find a multi billionaire who can and wants to buy it, then it's straightforward deal. Struggle comes if u don't know how to find that person.
I am really inspired with Ryan's dedication. Imagine, he can still work while in traffic doing vlogs to inform us about this topic. The amazing is teaching us also to maximize our time and be productive. You're the man, Ryan! 🙌🙌
As I would see it, the go to solution to climate this downturn and high expansion is momentary trading, rather than long haul trades, most people utilizing these methods are netting a lot of gains, sure the dangers are higher yet once more isn't the ongoing business sector similarly as unsafe?
Since the outbreak of 2020, which had a significant impact on the market, I've been running all of my investment decisions through an investment coach because their entire philosophy is centered around using a high-profit oriented blueprint while simultaneously going long and short, as well as reducing risk exposure as a hedge against inevitable downtrends. Underperforming is almost impossible when combined with their access to strange data and analysis.
I know Some still make enormous returns from this seemingly unknown market. I’m looking forward to boost my ratio in the stock market. I have not invested anything yet and i want to get started Asap. Can you recommend this coach for me please?
I thoroughly recommend "Jackson Sten Marsh, an investment advisor who is subject to US SEC regulation. He has assisted me with my portfolio for many years. Look him up online; he's a well-known figure.
From wearing a Tom Ford jacket in the bathtub on billionaires row to breaking it down here you are special with your down home egoless vibe to being so sharp , good job player🎉
If you are buying a place for 250 mill, paying 25 mill+ in taxes etc = "so what"... there are people out there casually buying a "vintage painting" for 180 mill on a whim, "just cause it was a random tuesday and said person was bored".
Thanks for the breakdown about this, Mr. Serhant! I had been wondering about how people actually close on these huge properties. Perhaps you can make future video about how someone actually gets the cash set up to make housing purchases like this happen? Becuase, well, one would literally have to go to the financial institution itself...right?
I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me froma huge financial debt with just little investment, thanks so much Mrs. Sophia
The magic of thinking big. If you are crazy enough to to believe you can sell a $250,000,000 penthouse, there is a good chance you will actually do it.
I’m sure you’re aware but a 10% commission on a chair vs 10% commission on a house is completely different lmao. Not to mention that most Americans can’t even afford a house right now. So yea, 6% is completely fair for the average RA commission
The $15M commission shrinks fast when you consider: you have to pay half to your broker which if it is you, you have $2M in selling costs. Then you have the purchaser brokerage commission which is 60% of the commission, so when "Connie Chung" brings in her friend you have to pay $9M to her. And then there is income tax on your earnings. So 30 percent tax on $4M, leaves you $2.8M net commission. Then you have to go to work to make another big deal.
Dearest Ryan, PLEASE show us EVERY single centimeter of this place! I don't care if it takes an HOUR! 😃This is a once in lifetime property. 🤤Show...it....ALL. IN THE DAY, DUSK AND NIGHT. PLEASE AND THANK YOU GOOD SIR!😊😁
I know it’s comparing apples to oranges but imagine taking out the same amount of money and what you could buy elsewhere. For example in Montana you could probably buy a 20,000 acre ranch with four large log homes on it, A barn, cottages for guests and ranch workers, three or four SUVs for picking up guests at the airport 100 miles away, you could buy all that and probably still have $50 million leftover for groceries and Firewood
More like completely reasonable? Billionaires could give away 95% of their money and still live in luxury for the rest of their life. This tax is less than
There’s maybe 10-15 brokers that could even be considered to handle a deal like this. Buyers at this level go direct to the listing agent, this isn’t a $500k colonial in some random neighborhood.
So, in essence now Ryan has explained it, its really a more or less $300 million penthouse. I'd still buy it if I was a multi billionaire come trillionaire, and paying cash is still the cheapest way even though you have to pay an additional $15 million before you get the front door key in you hand and you move in.
In India comission percentage is 1% for any commercial, residential or agricultural property , which is paid after the property transfer . Nice suit by the way !
I think you need to create a video to also highlight , legal fees ; and especially cross country like if my legal firm in in another country . Also ‘touch up’ fees to slightly alter the place ; like moving in cost . Also yearly taxes, bills, building co-op/management fees, and so on. Then again, perhaps people who could spend 100 mil on an apartment doesn’t really care about all these cost ;)
I find it hard to believe that this apt cost over 50 million dollars to actually build . I hope that nobody buys this apt so a statement is made . No apt is worth this money or no home . Its just people putting value on things that are not worth it .
Congrats great to see all your hard work paying off. What would be the formula for how much to spend on promoting that property marketing fees etc?? ty Maybe another video?
Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.
If anything, it'll get worse. Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Looks like I'm not buying a property in NYC any time soon
I was considering buying a condo, but the fees are unreal. It makes more financial sense to rent, even in the insane rental market now.
@@cwillis Its no wonder ppl are moving to places like Vegas with all those taxes.
Cool story bro
@@asambi69 Yes, but life is too short to lie in Henderson. Lol.
the transfer tax is a joke. 5 million in FEE's? just to transfer? hahahahahahahaahahhahhahahaaha there should be a cap rate of 100k or something. so STUPID
Mortgage recording tax has to be the biggest money grab I've ever seen. What a joke
So much transparency & education on the NYC real estate market - very refreshing and much appreciated! Thanks Ryan!
This video just highlights the stupid ways that the government finds ways to take more and more money from people by adding all these stupid and unnecessary taxes
If there's anything worse than a billionaire whining about taxes it's a boot licking wannabe billionaire whining about taxes.
@@blairmacdonald9632 are you calling someone else a bootlicker while defending taxes?
@@blairmacdonald9632 you can say what you want. To some degree we're all unfairly taxed. But specifically the wealthy people are hit the most with unfair taxes. The taxes listed in this video are stupid and unecessary. And I don't care what you think but just because someone makes more shouldn't mean they're taxed more. If everyone was taxed at the same rate wealthier people would still be paying more taxes than everyone else.
@@brooke9225 I agree
Taxes are necessary but i think it should be controlled to a certain number not to an absolutely ridiculous numbers
I always enjoy watching you, especially when you break down information other agents don’t necessarily want to divulge.
0:53 You DONT have to be a Multi billionaire to buy a 250M penthouse.A multi millionaire can easily buy that apartment-even with a net worth of 600 Million, one can easily afford a 250M Penthouse
@@goldenboyi1989 a multi-millionaire cannot afford this.
@@GG-tf1tc The apartment is only 250 Million, what if someone has 800 million in cash? 800 million is not a Billionaire therefore a multi millionaire can easily buy 4 of these apartments using their accumulated wealth on a 10 million per year salary
@@GG-tf1tc is it because of their greed?
Achieving a particular goal is quite difficult through digital marketing, thats why I trust my bitcoin trading
Absolutely
@Diego Fernández Absolutely, my plan is to start trading Bitcoin full time, I will also need mentorship. Thanks
Stack more Bit'coin when the market dip👌
@benjamingray6162You don't need to be shoc_ked , ca'use am also a hu'ge bene_ficiary of Ellis Gregory. he helped me reco'ver what I lo'st tryi_ng to tra'de for myself
@steven jones Who's this profe-ssional eve'ryone's tal-king about, I always see his name at top comments on every You'Tube video I watched
Just getting this listing to begin with is a compliment and a win! Sending positive vibes your way that you find the perfect buyer.
For 2023, it’s hard to nail down specific predictions for the housing market is because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.
@Craig Daniels Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.
@@tatianastarcic True, we’re only just an information away from amassing wealth, I know a lot of folks that made fortunes from the Dotcom crash as well as the 08’ crash and I’ve been looking into similar opportunities in this present market, could this coach that guides yo help?
@@maiadazz Having a counselor is essential for portfolio diversification. My advisor is Melissa Scott Glazner who is easily searchable and has extensive knowledge of the financial markets.
@@maiadazz Found her, I wrote her an email and scheduled a call, hopefully she responds, I plan to start 2023 on a woodnote financially.
@@richardhudson1243 SCAM SCAM SCAMMER
When you invest you're buying a day you don't have to work
@Hart Thim You're right, it's obvious a lot of people remain poor due to ignorance
I'm looking for something to venture into on a short term basis, I have about $6k sitting in my savings
Obviously trading in bitcoin is very volatile and risky to trade that's the reason most traders trade with a company
Now is the best time to purchase and invest in Bitcoin stop procrastinating!
I'm new to crypto trading, how do I get started with the help of a professional?
Love the transparency. People like you definitely deserve the money earned. Not an easy job.
Of course it is. It’s realtors that gentrify society and price the middle out
Mr. Serhant how can you possibly use this as a stepping stone to take your career higher?? You already mentioned that this was the highest residential home in the world xD
Real talk though, as a numbers guy I appreciated this breakdown. Great video!
It may be the most expensive now, but so were the $88 and $100million penthouses at one time. 😁 You got this Ryan!
The taxes on this is insane! Congrats on getting the property though. That's life changing.
Try to imagine getting a loan for a mansion with the interest rate of a third world country.
It's actually very reasonable. For someone making over a billion dollars paying a tax of $19 million, it is the equivalent of someone who makes $50k a year paying $950. Not nothing... but not that insane either. And that $19 mil means a LOT less for the billionaire than the $950 means to the average joe
it's time to vote for the Libertarian party,
I really hope the city/state will use that money wisely for the good of the citizens who invested their money there.
📌Do what everybody else is doing if you are okay with only having what everybody else has.Information that will pay you everyday, you've got to stop saving all your money.
Venture into investing some, if you really want financial stability.
Choose to grow and elevate your mind by studying audios, videos, attending conferences that will give you the edge!
Lately I’ve been thinking of buying cryptocurrency for retirement, I’ve set asides $350k to invest but along the line,I usually get cold feet, maybe because I have no idea what I’m doing, please I could really use some guidelines.
@@pucciofabrizio7053 In situations like this,I always recommend to people on getting guidance at least from someone that understands price action and all that while you strive on improving yourself by watching videos and learning fundamental analysis.
Investment guidance sounds like a great idea,thought about it before but never knew how to go about it.
@@anthonythobias2034 I used to invest on my own because of making your money work for you mentality but never made any progress until I sought the guidance of Juan Antonio Landa and she has made me understand that strategy is everything.
Wow…..Juan Antonio Landa?
This is Fantastic! Especially as a pure abstraction as 99.99 of people will never experience this kind of purchase.
NYC bureaucrats seem pretty entitled to other people's money.
I don't understand why billionaires would want to live in a city that has so little respect for them.
The real question is: why is Ryan still in New York City, clearly he's getting robbed by those taxes!? Jesus!
even if i were rich enough i don't think I would buy that property, because id rather own a mini island
Go get 'em Ryan !! You CAN do this !!! NO other broker has what it takes to make this deal happen. YOU CAN DO IT ! MAKE IT HAPPEN RYAN !!! SELL THAT PENTHOUSE !!!! 3, 2, 1.... GO !!!!!
He's not going to eat your 🍑 dude, stop riding so hard.
I look forward to run a successful real estate business like Ryan in the future
Update: after shopping around, I've found the property agency that I wanted to join, now undergoing initial stage of training, baby steps to triumph!
Wow, NYC sure does get a huge slice of the pie. Thanks Ryan, for entertaining us.
I thought taxes in DR were crazy, but NY takes the pie! What the heck?! There's too many taxes.
The more I look the more taxes seem like simple robbery
For a billionaire this is
If it sells*
Gary knows he’s not getting $250M for this right now
Especially since rates just went up another .75%
I’m curious what differentiates an $80M, $2M and $250M home.
When I clicked the video, I thought you were going to break down HOW/WHY a condo could cost $250,000,000. Nevertheless, great video as always. Informative, clear, and concise ❤️
He should have
Location, location, location. There’s homes in NYC that are millions of dollars. Take that same floor space and go to NC or TX and the price chops in half. The materials used to build the place matter, but it ultimately comes down to location.
@@hothotheat3000 and the views
At that point its all about comparables. Nothing to do with 'inherent value'
Ryan... You made it!!! Congratulations!! Time to become a developer.
I just got my real estate license and I can’t wait to implement all the tools and skills I’ve learned from your channels!
Congratulations, Matthew!
Those taxes are like an April Fools Joke 😮
A billionaire couldn't spend all their money if they tried. They won't miss that $19 million.
I want to know how your commission breaks down. How much of it goes to your company, how much of it goes to your marketing, how much do you pocket etc.
Got home paid off, auto paid off, gold, silver, crypto (on cold wallet storage), credit cards paid off, cash for emergencies, solar backup supply
food, water, and most of all, Jesus ..and many priests on the batline. Investment is the key. Thank you Mrs Sophia . Peace be with you, your family and your cute investment , Nugget.
Yes that's true
So you guys still know her too
Bitcion investment is what people should be going into all thanks for my successful withdraw ❤️
My first experience with her gave me the assurance that has made me to invest without fear of loosing
I invested £5000 pounds I I received £54,000 thousand pounds within 7 days working
Comparing a 20% recruiter fee/commission on a $200K salary to a 6% of $250M is quite a stretch
why would anyone live in NYC, all those taxes and a huge crime rate. Not worth.
How many cars parking we get after buying this penthouse 😅?
Bigup ❤ Big
250 Mil, and the entire building doesn't even belong to you.
You didn't mention commission paid to the buyer's agent, which is usually 2.75-3%. Does that not apply with a super high end luxury place like this?
He said it- co brokerage spilt
I’ve loved your transparency and the polite way you always talk towards people, on your videos. If i were up to buy that apartment, i’d pay you 10%, instead of 6%.
Sadly, as you may imagine, I dont’t have enough money to buy that beautiful apartment. LOL.
Wish you a sky of success!
New York State Transfer Tax and Mansion Tax blew my mind 🤯🤯. People loose their minds over the 2% transfer fee at Canyons Village here in Park City, Utah They should come watch this video because then they will realize it’s a freaking deal what they are buying in comparison!! Good Luck with the sale can’t wait for the video when you get to say I FREAKING DID IT!!🎉
Merry Christmas
It's really about the connections/leads u have. If ur able to find a multi billionaire who can and wants to buy it, then it's straightforward deal. Struggle comes if u don't know how to find that person.
i love your confidence Ryan, shows promise that you will sell this place
I am really inspired with Ryan's dedication. Imagine, he can still work while in traffic doing vlogs to inform us about this topic. The amazing is teaching us also to maximize our time and be productive. You're the man, Ryan! 🙌🙌
As I would see it, the go to solution to climate this downturn and high expansion is momentary trading, rather than long haul trades, most people utilizing these methods are netting a lot of gains, sure the dangers are higher yet once more isn't the ongoing business sector similarly as unsafe?
Since the outbreak of 2020, which had a significant impact on the market, I've been running all of my investment decisions through an investment coach because their entire philosophy is centered around using a high-profit oriented blueprint while simultaneously going long and short, as well as reducing risk exposure as a hedge against inevitable downtrends. Underperforming is almost impossible when combined with their access to strange data and analysis.
I know Some still make enormous returns from this seemingly unknown market. I’m looking forward to boost my ratio in the stock market. I have not invested anything yet and i want to get started Asap. Can you recommend this coach for me please?
I thoroughly recommend "Jackson Sten Marsh, an investment advisor who is subject to US SEC regulation. He has assisted me with my portfolio for many years. Look him up online; he's a well-known figure.
owning in NYC sounds like a nightmare
This is really an eye-opener. You're amazing and it's refreshing to see someone who loves his work as much as you do.
This is the only place
so generous of you ryan to educate us
Amazing and thank you for sharing your journey
Can’t wait to be there in November and see it in person!!!!
These taxes are cray cray!!
Will we be getting a full tour of this Penthouse?
From wearing a Tom Ford jacket in the bathtub on billionaires row to breaking it down here you are special with your down home egoless vibe to being so sharp , good job player🎉
For application
6% commission?! That's insanely high. No amount of rationale can justify that.
If you are buying a place for 250 mill, paying 25 mill+ in taxes etc = "so what"... there are people out there casually buying a "vintage painting" for 180 mill on a whim, "just cause it was a random tuesday and said person was bored".
Thanks for the breakdown about this, Mr. Serhant! I had been wondering about how people actually close on these huge properties. Perhaps you can make future video about how someone actually gets the cash set up to make housing purchases like this happen? Becuase, well, one would literally have to go to the financial institution itself...right?
Thank you, Ryan. I think you're right with the part of not stopping even when you've hit a big transaction. Congrats on the sale!
Thanks for running down the numbers, now I know this is out of my budget.
Hell, if I had the money for the penthouse, just based on principle I wouldn't buy it because of these BS taxes that NY has.
In Spain if you take a loan, you get a deduction on taxes... Also, were around 2.1% interest rate.
dont forget the 6% is split between buyer and seller agent so really 3%
Geez, I thought the fees here in Los Angeles were over the top -- turns out NYC has us beat.
Jeepers I have a headache just listening to all these taxes!
This is probably THE BEST recruitment video for FL, TX, TN 🤣😂
Ray liotta
Why is the commission still 6% at 250M? Do the sellers NOT know they can negotiate that? Ain't no way you are doing 7.5M worth of work.
Before you guys actually sell it off, can you please give us a walk through before no one is able to see what this property looks like.
I will forever be indebted to you you've changed my whole life continue to preach about your name for the world to hear you've saved me froma huge
financial debt with just little investment, thanks so much Mrs. Sophia
hahaha
The magic of thinking big. If you are crazy enough to to believe you can sell a $250,000,000 penthouse, there is a good chance you will actually do it.
Wow, I'm already seeing the comission check coming soon, it will be a great video of how you got a billionaire to buy this mansion 😀 👍🏽
I’m sure you’re aware but a 10% commission on a chair vs 10% commission on a house is completely different lmao. Not to mention that most Americans can’t even afford a house right now. So yea, 6% is completely fair for the average RA commission
The $15M commission shrinks fast when you consider: you have to pay half to your broker which if it is you, you have $2M in selling costs. Then you have the purchaser brokerage commission which is 60% of the commission, so when "Connie Chung" brings in her friend you have to pay $9M to her. And then there is income tax on your earnings. So 30 percent tax on $4M, leaves you $2.8M net commission. Then you have to go to work to make another big deal.
Ok, this was great info. What is the annual tax on that kind of house? What are the building taxes per month?
*Just a hint for improvement*
Please do not drown the great content amidst aggressive background music. You are a great person, you don't need it.
Resiculous how NY taxes their citizens. No thanks.
You are a great inspiration for all kinds of work and life stuff. Thanks. (It does sound so simple, yet, it's so effective). All the best.
Dearest Ryan,
PLEASE show us EVERY single centimeter of this place! I don't care if it takes an HOUR! 😃This is a once in lifetime property. 🤤Show...it....ALL. IN THE DAY, DUSK AND NIGHT. PLEASE AND THANK YOU GOOD SIR!😊😁
Taxes suck
I love your transparency
I know it’s comparing apples to oranges but imagine taking out the same amount of money and what you could buy elsewhere. For example in Montana you could probably buy a 20,000 acre ranch with four large log homes on it, A barn, cottages for guests and ranch workers, three or four SUVs for picking up guests at the airport 100 miles away, you could buy all that and probably still have $50 million leftover for groceries and Firewood
Wow. Those NY taxes are ridiculous.
More like completely reasonable? Billionaires could give away 95% of their money and still live in luxury for the rest of their life. This tax is less than
damn taxes in NY make me want to never live there. thats insanity
Can you address the fact it will likely be sold through another buyer’s agent and not yourself? Or am I missing something?
There’s maybe 10-15 brokers that could even be considered to handle a deal like this. Buyers at this level go direct to the listing agent, this isn’t a $500k colonial in some random neighborhood.
@@ChrisC-pc5xm thanks for the insight. One thing I’ve learned in this business is nobody knows what they’re doing until they’ve done it.
Love you Ryan!
It took me all of eight minutes, but I figured out how to BEAT three of New York's real-estate tax charges in one fell swoop.
I BS you not.😎
Okay. Let's cut to the chase. Is coffee better at 1,419 ft?
So, in essence now Ryan has explained it, its really a more or less $300 million penthouse. I'd still buy it if I was a multi billionaire come trillionaire, and paying cash is still the cheapest way even though you have to pay an additional $15 million before you get the front door key in you hand and you move in.
There are buildings nearby were the real billionaires live: we are talking penthouses costing over 1000 mill ;)
In India comission percentage is 1% for any commercial, residential or agricultural property , which is paid after the property transfer .
Nice suit by the way !
This was really very helpful information. The taxes are eye opening
This is like a cup of black coffee for anyone in sales. Thanks for this video !!!!!!
Im so happy this property is on sale nyc
Or be the guy who sold the building..
I think you need to create a video to also highlight , legal fees ; and especially cross country like if my legal firm in in another country . Also ‘touch up’ fees to slightly alter the place ; like moving in cost . Also yearly taxes, bills, building co-op/management fees, and so on. Then again, perhaps people who could spend 100 mil on an apartment doesn’t really care about all these cost ;)
I find it hard to believe that this apt cost over 50 million dollars to actually build . I hope that nobody buys this apt so a statement is made . No apt is worth this money or no home . Its just people
putting value on things that are not worth it .
Lets get another suit tour!
Such a great video. Very interesting
hi ryan may I just asked how much would be the cost of the yearly property tax if the penthouse tag price was 250m.
Great insights,mr.Serhant,👍👍.
More videos like this please.
👍
Congrats great to see all your hard work paying off. What would be the formula for how much to spend on promoting that property marketing fees etc?? ty Maybe another video?