I’m 45 and have about $225k liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at dividend paying stocks instead?
after studying the trajectory of great assets like real estate, dividend paying stocks and gold, my conclusion is to buy and invest in what you can afford today! working with a license FA can certainly help
Agreed, I'm in line with having a fudiciary oversee my day-to-day investing, cos my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio is well diversified and has just 5X in 5 years, summing up nearly $1m as of today.
@@delectable09-r5q I've worked in real estate for over 25 years and have neglected a major stock portfolio, however I need a different plan now.. mind if I look up the professional guiding you please?
Nah, what they be telling is "I have several investors offers" and I be like "let them have it" months later today... That bs still standing without buyer😂😂😂😂😂😂😂😂😂🎉🎉🎉. Surprise surprise 🫢 Ps. Idk guys/gals, is telling lies part of sales strategies? Isn't lying kinda like a deceiving thing to do? Then, isn't deceiving kind of like scamming? So, isn't scamming kind of like a crime? ? ?
I was able to take advantage of the lower interest rates in September and I got my house with a 5.99%rate on a conventional loan One of the best advice I’ve ever heard is “the best time to buy a house is when you are ready to buy a home”
Just went into contract in Riverview, FL. Originally listed for $550K. Went into contract for $460K with $15K in seller closing cost assistance and the unit comes 50% furnished. 3400 sqft. The appraisal will most likely come back with $20-30k positive equity. Seller needed to sell asap and I negotiated very strong. Denied their first counteroffer. After a week, they came back and I asked for more. I guess it depends on how you look at your situation and our current market. If your financial situation is strong, I think it’s a good time to buy if the deal is right.
I’ve been looking in the same area but for new construction. Went with Lithia,FL. Lots of good incentives on new construction if you’re a qualified buyer. Was able to get a good interest rate (below 5%) and closing costs paid. Congrats on your new home !
Wow javier’s advice has stay consistent over the years. A little over a year ago I was able to buy a house well under market value by following his advice and being ready when the time came. My wife happened to be talking to a friend and they had a family home that we bought “off market”. Talking to a lender and seeing where we stood was HUGE identifying what we needed to work on.
Stock investment is currently better than real estate because it offers greater liquidity, allowing you to buy and sell quickly. It also requires less initial capital, making it more accessible, and you can easily diversify your portfolio to spread risk. Plus, with technology, managing stock investments has become simpler and more efficient.
Back in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet. in terms of smart investment, i believe the stock market has been really beneficial,especially with the help of a financial adviser.
I agree. Based on my personal experience working with an investment advisor, I currently have over $350k in a well-diversified portfolio that has seen exponential growth. It's not just about having money to invest in stocks; you also need to be knowledgeable, persistent, and have the strength to hold on during market fluctuations
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
Teresa L. Athas 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.
Thank you so much for the suggestion! I really needed it. I looked her up on Google and explored her website; she has an impressive background in investments. I've sent her an email, and I hope to hear back from her soon!
Central ca I’ve seen 1 drop 100k in 4 months. MANY houses dropping 40k. We aren’t waiting for a “crash” we are ready to buy in January regardless of where the market is at, we just find it interesting that there is lots of homes dropping in price a bit.
Had this same talk bavk in 22'. Buy if you can put enough down to easily afford it. Having a stable job a big plus too. If not rent and invest till you do.
Getting a new home built. Putting over 40% down. Plan to stay 10-15 years. I say do what works for you. Not every one gets what they want when they want. This is my 3rd home and I’m almost 50. Worked hard for this home and did all the right things to get here today. While it’s not my “dream” home it is the nicest home thus far and very impressive. Good luck and don’t give up.
With mortgage rates over 7% again i dont really have a choice i cant afford anything in nj or even within a 1 hour commute from manhattan where i work. Im 32 and make about 90k a year and its just not possible sadly so i have to live with my parents for a couple more years and just keep saving.
90k isn't enough to buy in north jersey might be able to get something small by Delaware in jersey if your lucky. Either save a large down payment while living at home or figure how to get income over 200k even south jersey is hard to qualify for with 6 figures. Also have an emergency fund insurance tries to drop you on day of closing if house has any imperfections. Talking from experience just went through it.
@@sewerrat7612yea sadly salaries like 200k are extremely rare and itll be hard for me to move anywhere too far with all the benefits i have with my job right now which include 401k,pension christmas bonuses free healthcare for me and the whole family etc. My job unfortunately is not remote.
I’m facing a problem: the houses I’m interested in are out of my budget, even with a $100,000 down payment. Unfortunately, there’s not a single house that I like and that fits my needs, so I’ll have to wait on the sidelines until I can find the right one in my budget.
I bought a 2 bed, 2 bath townhome last year with a rate of 6.875% and a final loan amount of $203,500. My mortgage and HOA combined is $1,800. It's been about the same as renting if not cheaper thus far so in my opinion buying isn't as bad as a lot of people make it out to be.
It always depends on if you can afford it or not. One shouldn't "time" buying a house, if they can currently afford a house, and they want to buy a house, and the one they want is one the market.
What we need is a Recession .. A good economy means higher home prices, no incentive for desperation sales. Lower interest rates, is for those sole living on borrowed credit - paycheck to paycheck
After doing the calculations, no. But if the right house comes along... I wouldn't mind it, I can pretty much afford most of the houses I was looking at, but none of them spoke to me.
4:01 I’m not stuck in limbo while waiting. I have my money in the stock market, and it is growing very nicely. More than double in the last 2 years, meanwhile house prices have been flat. That doesn’t mean I’ll never buy a house, but it means I can afford to be picky because the alternative is pretty dang good.
I’m honestly starting to think the answer is “no” for me. Just got my mortgage underwritten and approved last week, and I just feel like stopping here before I get into this, spend money I’ll regret, and be locked into an over priced house with an unaffordable interest rate
Over priced is likely to never stop, but you can refinance later if its straining you. But if you have this many reservations about it, its better to pay the fees and do it later. But don't take advice from the internet though.
I understand it probably won't be a good idea to buy unless you know you can stay in it for 3+ or 5+ years, but with the current job situation, how would you ever be certain?
Every home purchase is deal specific. Motivated seller, off-market, equity capture, strategic value-add , repurpose, etc. The "market environment " matters not.
Its ok to buy a house if you are a growing family...but if you view it as an investment, definitely just dump that money into stocks. Its bull market time and there's so much potential upside atm than fighting your interest rate and being house poor.
Bought a town home using va loan in one of the most expensive real estate cities in the U.S I got in mid 5 percent apr. I thought If I don't buy now I would of never bought it if you ready to buy, go if you get good rate. If you go by Dave Ramsey's advice, you will never get out of your parent's home or apartment.
I recently reached out to a real estate agent and went through the whole pre-approval process. Now that I know what I qualify for I want to wait another year or two. Save some more money and pay down some more debt. I feel find of bad. Im not sure how to break it to the realtor. I dont want to waste anyones time. Any advice?
It’s not all things equal if the rent and mortgage payment are about the same. On top of the mortgage you are paying for maintenance/ repair costs, homeowners insurance, HOA fees, property taxes, etc. All of which you don’t pay as a renter. And that’s not even getting into the fact the value of your house could fall off a cliff at any moment and you could be stuck there for 5-10 waiting for it to bounce back. That being said, if you’re ready for it and it’s right for your life situation then it can still be a good decision
In this calculation, rent should be slightly lower than the mortgage payment. If I had to put an estimate for the "alternative investments", it would be something along the lines of 70% of the mortgage payment would make them equal (this keeps the 30 year appreciation of the home in line with the opportunity cost of the down payment and any extra hidden expenses and fees). But honestly, anyone doing this calculation, should just keep renting, and not buying, as its likely they are buying for "FOMO" than actually wanting a house and committing to it. This is more of a "am I ready to buy" or "is this a good investment" calculation rather than a "should I buy this house", calculation (because this one is straight forward).
Great video! For 2024, 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.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
You are right! I’ve diversified my $450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Too many variables, climate change affecting insurance prices, elevated interest rates and the home shortage if ever alleviated will put downward pressure on home prices not to mention the cost of repair and maintaining right now on top of that.
But I really do want to be your friend and eat tacos together. Maybe pick a random subscriber and interview them about a housing purchase, 1 year or 5 years in. Regrets. Opportunities. Etc
Sure go ahead and buy a house at historically high prices with a high interest rate to boot. All the realtors say this is your last opportunity to buy before it's too late 😂
Near record prices & high interest rates yep buy I get 3-5x commission 😂 Asking a real estate agent when to buy is like asking a car salesman if it’s a good time to buy a car. But occasionally you get a good one like you lol 😂
Wife and myself combined should be at about $165k/yr We invest about $37,000/yr We have a good emergency fund, and two reliable cars. I still dont feel like damn near doubling my rent cost of $1,550/mo to around $3,000/mo (before utilities) just to buy a house... So if we can't afford to buy comfortably, who can? Maybe we invest too much, but I dont really care to change those habits.
@BREEZYM6015 You found a good deal, good for you man 🤙🏻 I'm in Phoenix and the housing market is stuck at about $440,000 average for a house that I deem "worth spending money on."
I would say that you are not investing enough. When I was married in the 1990s, our income was less than yours is now & we were saving well over $37,000 per year!
@@janereinhardt4715 Cost of living is much higher than 1990, so if I invest more, I will get to enjoy nothing and I'd might as well end it now if that's the case. I invest into aggressive ETFs only. Long play, higher volatility, speculation is to have 2.5-3mil by the time I'm at age 50-55. If I invest more, I'll have no money left for purchasing anything, let alone a house.
You will never know your monthly payment until you are about to sign the paperwork. Many factors go into that payment and if you can’t figure out what is involved, I recommend you continue your home buying education and find that info out. Best of luck !
@@abhisheksakpal484and pay the banks basically 100% of your mortgage the first several years🫠 and if anything malfunctions on your purchased home you get to pay 100% of that too.
Me and my wife make around 210K in South Dakota, we also have around 50K for down payments and my wife really likes to buy a house but i can’t mentally handle the 3000$ monthly payment even we take home around 13k in a month and we have 1200$ monthly payments on our cars and student loans all together, I really don’t know how to become mentally comfortable with this payment!
Pay all the bills and cars first and do not buy new cars. Than it would be easier to save more and put more downpayment so you do not have a high downpayment. Eventually, you could hopefully refinance and or just try to pay the house off asap. 🤷♀️
@@JonathanRootD Hi Jonathan we don’t even know each other and we will probably never get to know each other, I don’t even have a photo or name to brag about anything! My problem is not the money, since we have been living in an apartment and the rent we pay is 1200$. It’s mentally very hard for me to all of a sudden pay more than double of what i used to pay for an average house, I put everything on paper and i can see it should be pretty easy but when it comes to reality it’s just hard ,
@marcelrodriguez2067 It was the ultra-low sub 5% 30 year mortgage rates that drove up the home prices Minimum wage jobs are for kids that are in high school if someone's only making minimum wage they need to apply themselves
I’m 45 and have about $225k liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at dividend paying stocks instead?
after studying the trajectory of great assets like real estate, dividend paying stocks and gold, my conclusion is to buy and invest in what you can afford today! working with a license FA can certainly help
Agreed, I'm in line with having a fudiciary oversee my day-to-day investing, cos my job doesn't permit me the time to analyze stocks myself. Thankfully, my portfolio is well diversified and has just 5X in 5 years, summing up nearly $1m as of today.
@@delectable09-r5q I've worked in real estate for over 25 years and have neglected a major stock portfolio, however I need a different plan now.. mind if I look up the professional guiding you please?
I take guidance from ''Sophia Verdekal O'neal'' she's quite known in her field of work with over two decades of experience, and well spoken.
curiously googled Sophia Verdekal O'neal and at once spotted her consulting page, she seems highly professional from her resumé
Every real estate agent telling me its the best time to buy
For them it is the best time
Nah, what they be telling is "I have several investors offers" and I be like "let them have it" months later today... That bs still standing without buyer😂😂😂😂😂😂😂😂😂🎉🎉🎉. Surprise surprise 🫢
Ps.
Idk guys/gals, is telling lies part of sales strategies? Isn't lying kinda like a deceiving thing to do? Then, isn't deceiving kind of like scamming? So, isn't scamming kind of like a crime? ? ?
Just like car dealers that certain car in flying off the lot 😅
I'd trust them
@@BlessUsEarthrealtor- this house just got in the market, make a bid before other buyers find out.
The answer is “NO” if your are an average person
I was able to take advantage of the lower interest rates in September and I got my house with a 5.99%rate on a conventional loan
One of the best advice I’ve ever heard is “the best time to buy a house is when you are ready to buy a home”
Just went into contract in Riverview, FL. Originally listed for $550K. Went into contract for $460K with $15K in seller closing cost assistance and the unit comes 50% furnished. 3400 sqft. The appraisal will most likely come back with $20-30k positive equity. Seller needed to sell asap and I negotiated very strong. Denied their first counteroffer. After a week, they came back and I asked for more. I guess it depends on how you look at your situation and our current market. If your financial situation is strong, I think it’s a good time to buy if the deal is right.
I’ve been looking in the same area but for new construction. Went with Lithia,FL. Lots of good incentives on new construction if you’re a qualified buyer. Was able to get a good interest rate (below 5%) and closing costs paid. Congrats on your new home !
Indeed. It should never depend on the "market conditions", but whether you can afford it right now, and reasonably into the future or not.
Wow javier’s advice has stay consistent over the years. A little over a year ago I was able to buy a house well under market value by following his advice and being ready when the time came. My wife happened to be talking to a friend and they had a family home that we bought “off market”. Talking to a lender and seeing where we stood was HUGE identifying what we needed to work on.
Drawing kinda looks like the home buyer is opening a portal to a demonic realm (sellers market)
Stock investment is currently better than real estate because it offers greater liquidity, allowing you to buy and sell quickly. It also requires less initial capital, making it more accessible, and you can easily diversify your portfolio to spread risk. Plus, with technology, managing stock investments has become simpler and more efficient.
Back in 2007 when I was working in real estate seeing people buy homes new from builders with the intention of selling before close of escrow to a new buyer for profit. The crash was so brutal and fast that I remember seeing a lot of these units foreclosed on with the builder plastic still on the carpet. in terms of smart investment, i believe the stock market has been really beneficial,especially with the help of a financial adviser.
I agree. Based on my personal experience working with an investment advisor, I currently have over $350k in a well-diversified portfolio that has seen exponential growth. It's not just about having money to invest in stocks; you also need to be knowledgeable, persistent, and have the strength to hold on during market fluctuations
Thanks for sharing your experience! I’ve been managing my portfolio myself, but it’s not working out. Do you have any recommendations for a good investment advisor? I could really use some help.
Teresa L. Athas 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.
Thank you so much for the suggestion! I really needed it. I looked her up on Google and explored her website; she has an impressive background in investments. I've sent her an email, and I hope to hear back from her soon!
Just wanted to thank you. I was able to close on my first house thanks to your videos explaining the proccess.
My neighbor listed their house and it’s been in the market for 1 month. $50,000 reduction in price 😮
In AZ?
Going into winter though. Harder and harder to sell.
Northern CA
Possibly seasonal?
Central ca I’ve seen 1 drop 100k in 4 months. MANY houses dropping 40k. We aren’t waiting for a “crash” we are ready to buy in January regardless of where the market is at, we just find it interesting that there is lots of homes dropping in price a bit.
Had this same talk bavk in 22'. Buy if you can put enough down to easily afford it. Having a stable job a big plus too. If not rent and invest till you do.
Getting a new home built. Putting over 40% down. Plan to stay 10-15 years.
I say do what works for you. Not every one gets what they want when they want. This is my 3rd home and I’m almost 50. Worked hard for this home and did all the right things to get here today. While it’s not my “dream” home it is the nicest home thus far and very impressive. Good luck and don’t give up.
With mortgage rates over 7% again i dont really have a choice i cant afford anything in nj or even within a 1 hour commute from manhattan where i work. Im 32 and make about 90k a year and its just not possible sadly so i have to live with my parents for a couple more years and just keep saving.
90k isn't enough to buy in north jersey might be able to get something small by Delaware in jersey if your lucky. Either save a large down payment while living at home or figure how to get income over 200k even south jersey is hard to qualify for with 6 figures. Also have an emergency fund insurance tries to drop you on day of closing if house has any imperfections. Talking from experience just went through it.
@@sewerrat7612yea sadly salaries like 200k are extremely rare and itll be hard for me to move anywhere too far with all the benefits i have with my job right now which include 401k,pension christmas bonuses free healthcare for me and the whole family etc. My job unfortunately is not remote.
I’m facing a problem: the houses I’m interested in are out of my budget, even with a $100,000 down payment. Unfortunately, there’s not a single house that I like and that fits my needs, so I’ll have to wait on the sidelines until I can find the right one in my budget.
I bought a 2 bed, 2 bath townhome last year with a rate of 6.875% and a final loan amount of $203,500. My mortgage and HOA combined is $1,800. It's been about the same as renting if not cheaper thus far so in my opinion buying isn't as bad as a lot of people make it out to be.
It always depends on if you can afford it or not. One shouldn't "time" buying a house, if they can currently afford a house, and they want to buy a house, and the one they want is one the market.
Where do you live that townhomes are so cheap??
Rent in my area is half the price of mortgage. All these people saying buying is cheaper live in some other world.
Owning builds equity and value to your overall portfolio
What we need is a Recession .. A good economy means higher home prices, no incentive for desperation sales. Lower interest rates, is for those sole living on borrowed credit - paycheck to paycheck
I just did but it was a new build (with all appliances, gutters, blinds, sod etc) with promotional rate and I had 10% down. Otherwise, no go for sure!
Best thing we did was buy a house in 21, 2nd best thing was buying the e bike.
After doing the calculations, no. But if the right house comes along... I wouldn't mind it, I can pretty much afford most of the houses I was looking at, but none of them spoke to me.
4:01 I’m not stuck in limbo while waiting. I have my money in the stock market, and it is growing very nicely. More than double in the last 2 years, meanwhile house prices have been flat.
That doesn’t mean I’ll never buy a house, but it means I can afford to be picky because the alternative is pretty dang good.
I’m honestly starting to think the answer is “no” for me. Just got my mortgage underwritten and approved last week, and I just feel like stopping here before I get into this, spend money I’ll regret, and be locked into an over priced house with an unaffordable interest rate
Over priced can’t be fixed, but you could always refinance for a lower rate.
Over priced is likely to never stop, but you can refinance later if its straining you. But if you have this many reservations about it, its better to pay the fees and do it later.
But don't take advice from the internet though.
I understand it probably won't be a good idea to buy unless you know you can stay in it for 3+ or 5+ years, but with the current job situation, how would you ever be certain?
Every home purchase is deal specific. Motivated seller, off-market, equity capture, strategic value-add , repurpose, etc. The "market environment " matters not.
14:33 Build the right homeowner in your head . damn another cool video from you. so much Learnjng. thanks javi! keep making videos
I thought high interest rates would bring down home prices but it didn’t. So now it’s business as usual if you can afford it buy a house
Just Say NO! I don't care who you are or how much money you have. Bring the prices down.
Its ok to buy a house if you are a growing family...but if you view it as an investment, definitely just dump that money into stocks. Its bull market time and there's so much potential upside atm than fighting your interest rate and being house poor.
What if you bought on May ?
Bought a town home using va loan in one of the most expensive real estate cities in the U.S I got in mid 5 percent apr. I thought If I don't buy now I would of never bought it if you ready to buy, go if you get good rate. If you go by Dave Ramsey's advice, you will never get out of your parent's home or apartment.
I recently reached out to a real estate agent and went through the whole pre-approval process. Now that I know what I qualify for I want to wait another year or two. Save some more money and pay down some more debt. I feel find of bad. Im not sure how to break it to the realtor. I dont want to waste anyones time. Any advice?
following, I’m in the same boat!
0:00 - Javi treating me better than any woman has ever treated me 🌮
It’s not all things equal if the rent and mortgage payment are about the same. On top of the mortgage you are paying for maintenance/ repair costs, homeowners insurance, HOA fees, property taxes, etc. All of which you don’t pay as a renter. And that’s not even getting into the fact the value of your house could fall off a cliff at any moment and you could be stuck there for 5-10 waiting for it to bounce back. That being said, if you’re ready for it and it’s right for your life situation then it can still be a good decision
I pay $1,800 a month for my mortgage and HOA combined.
In this calculation, rent should be slightly lower than the mortgage payment. If I had to put an estimate for the "alternative investments", it would be something along the lines of 70% of the mortgage payment would make them equal (this keeps the 30 year appreciation of the home in line with the opportunity cost of the down payment and any extra hidden expenses and fees).
But honestly, anyone doing this calculation, should just keep renting, and not buying, as its likely they are buying for "FOMO" than actually wanting a house and committing to it.
This is more of a "am I ready to buy" or "is this a good investment" calculation rather than a "should I buy this house", calculation (because this one is straight forward).
Can never time the market. Buy if you have 20% down and can afford
Sadly many people get caught up timing the housing market and fear mongering by other click bait channels
If you buy below your means using a low down option is fine on your first. Just make sure you plan on staying for like 5+ years
Great video! For 2024, 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.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
You are right! I’ve diversified my $450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
Do you mind sharing info on the adviser who assisted you?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
she actually appears to be well-read and educated. I just did a Google search for her name and found her webpage, I appreciate you sharing
Michael Bordenaro will be in Arizona soon.
Too many variables, climate change affecting insurance prices, elevated interest rates and the home shortage if ever alleviated will put downward pressure on home prices not to mention the cost of repair and maintaining right now on top of that.
I haven't watch the video but I already know Javier's answer...
But I really do want to be your friend and eat tacos together. Maybe pick a random subscriber and interview them about a housing purchase, 1 year or 5 years in. Regrets. Opportunities. Etc
You should buy a house now or very soon. It is not going to get any cheaper.
Lul. We just got the keys today for our house. $360,000 as a first time buyer.. above average in our market. Feels great.
Must be a trash area 😂
Bragging about buying at the top is peak comedy
@user-fd9jh1rh6k what exactly is a trash area to you?
@@user-fd9jh1rh6k having a username as user-fd9jh1rh6k is peak comedy
@@jr5.o100 They're just jealous that they can't afford even a $25,000 mobile home.
The only factors i concern myself with is House price and location, until housing prices crash i will not even consider it
Yea… I need to pay off these credits cards
good point 👏
Banks messed up the whole market lowering interest rates
Sure go ahead and buy a house at historically high prices with a high interest rate to boot. All the realtors say this is your last opportunity to buy before it's too late 😂
Have you gone flat rate yet?
Can't afford rent, can't afford to buy...
Near record prices & high interest rates yep buy I get 3-5x commission 😂
Asking a real estate agent when to buy is like asking a car salesman if it’s a good time to buy a car. But occasionally you get a good one like you lol 😂
Wife and myself combined should be at about $165k/yr
We invest about $37,000/yr
We have a good emergency fund, and two reliable cars.
I still dont feel like damn near doubling my rent cost of $1,550/mo to around $3,000/mo (before utilities) just to buy a house...
So if we can't afford to buy comfortably, who can? Maybe we invest too much, but I dont really care to change those habits.
I bought a 2 bed, 2 bath townhome on 60k a year with a mortgage and HOA combined of $1,800. 😂
@BREEZYM6015 You found a good deal, good for you man 🤙🏻
I'm in Phoenix and the housing market is stuck at about $440,000 average for a house that I deem "worth spending money on."
I would say that you are not investing enough. When I was married in the 1990s, our income was less than yours is now & we were saving well over $37,000 per year!
@@janereinhardt4715 Cost of living is much higher than 1990, so if I invest more, I will get to enjoy nothing and I'd might as well end it now if that's the case.
I invest into aggressive ETFs only. Long play, higher volatility, speculation is to have 2.5-3mil by the time I'm at age 50-55.
If I invest more, I'll have no money left for purchasing anything, let alone a house.
Then dont buy
I just bought a home and put nothing down good time for me
Buying a home with putting nothing down will cost you an extra 30k through the life of the mortgage.
@ I got a federal grant it applied 15k to my down payment
Javi, why must you set the scene like that and make me blush? There's a little bit of taco left on your cheek, lemme get it ;)
I can't figure out how much my monthly payment would be. All these online calculators involve so many assumptions.
You will never know your monthly payment until you are about to sign the paperwork. Many factors go into that payment and if you can’t figure out what is involved, I recommend you continue your home buying education and find that info out. Best of luck !
It's probably better to buy when interest rates are lower and real estate prices are over-inflated 😂
You date the rate and marry the price
Don't buy, keep renting. It'll crash soon
And keep making your landlord rich! Hard pass bruh
@@abhisheksakpal484and pay the banks basically 100% of your mortgage the first several years🫠 and if anything malfunctions on your purchased home you get to pay 100% of that too.
@@abhisheksakpal484or you could make a greedy home flipper rich instead 😂
Nice Sonic outro.
I guess I’m questioning if I should. NYC, 1% down and sonyma mortgage. I don’t think I’d be able to buy if I don’t take this deal now
About the subject of getting influence...this guy is literally doing that lol😅
I have to buy even tho it's super shit. Unfortunately.
Cant do rental until it’s not shit?
@@luck9837pay someone elses mortgage? I rather live with my parents and help them with the bills.
Just got married and kid incoming soon. Rent and owning a home. Is the same here in NY @@luck9837
Me and my wife make around 210K in South Dakota, we also have around 50K for down payments and my wife really likes to buy a house but i can’t mentally handle the 3000$ monthly payment even we take home around 13k in a month and we have 1200$ monthly payments on our cars and student loans all together, I really don’t know how to become mentally comfortable with this payment!
Pay all the bills and cars first and do not buy new cars. Than it would be easier to save more and put more downpayment so you do not have a high downpayment. Eventually, you could hopefully refinance and or just try to pay the house off asap. 🤷♀️
Damn your take home is our gross 😂 we have a $2650 payment. It's not bad at all
Honestly do an FHA and put the 50k into investments. The PMI you pay isn't that bad..
210k in South Dakota. You poor victim. No idea how you'll figure it out when you come to TH-cam comments to try...
@@JonathanRootD Hi Jonathan we don’t even know each other and we will probably never get to know each other, I don’t even have a photo or name to brag about anything! My problem is not the money, since we have been living in an apartment and the rent we pay is 1200$. It’s mentally very hard for me to all of a sudden pay more than double of what i used to pay for an average house, I put everything on paper and i can see it should be pretty easy but when it comes to reality it’s just hard ,
I gave up on the “market crash” so I bought a year ago it was a great deal off market sale and a year later I gained 70-100k equity
Trump is here now buy
Any chance you could stop making videos about real estate? You give away a lot of secrets that shouldn't be public knowledge.
This video sucks!!!!!!!!!!
*Interest rates are NOT high considering the long-term average 30 year rate is 7.76% since 1971*
Yea when house prices werent ridiculous and a minimum wage worker was able to buy one with no problem. This is apples and oranges.
@marcelrodriguez2067
It was the ultra-low sub 5% 30 year mortgage rates that drove up the home prices
Minimum wage jobs are for kids that are in high school if someone's only making minimum wage they need to apply themselves
Yeah but buying a home as a boomer back then was like buying a used car if you look at prices/wages back then.
@@marksweeney5237my point is that back then a minimum wage job was able to pay off a mortgage unlike nowadays where you cant even rent.
@@marksweeney5237my point is that back then a minimum wage job was able to pay off a mortgage unlike nowadays where you cant even rent.