My employer wasn't willing to work with me... they wanted to Micro Manage & Meticulously Nit-Pick At the time I was one of their hardest working Employees (Above & Beyond) But I struggled getting into work at the precise time they wanted me on the clock- Non of my Positive Accolades made any difference to them, it didn't matter I covered more shifts, did more work, or stayed later than any employee at the company.... I was 5minutes late for Work and on their Skeleton Crew it was too big of an issue for them with other employees who I was always covering and never covered.... They gave me an Ultimatum and I told em to stick-it where the Sun don't Shine ~ Over Worked, Over Taxed, Underpaid, and Employers wonder why they can't find Employees?
Rent for a single bed at my apartment was 850$ a month, and now in July it has jumped up to now 1450$ a month. It is insane!! Now I'm looking for a house.
I'm not sure what state you are in but I suspect your complex may be raising rents to make up for the lost income of those not paying rent perhaps because they don't have to until eviction time comes. I could be wrong however.
@@vWaLLBangz Washington State, all around Spokane, Spokane Valley and Coeur d'Alene have all had their rents shoot up. Luckily I'm still under lease with my low $850 rent so I have a few months to get out. Judging by the comments maybe this area is just an outlier.
Good luck convincing artsy people in the 20s who survive on debt to move back in with their parents. Their moms might try to get them to stop drinking alcohol every night.
@@othelliusmaximus That sounds like a you problem. Unless they’re kicking you out, it’s a you thing. I get it though. If you are financially stable and practicing good financial habits, you’re in a good spot.
Trying to time the housing market is a game of luck. Long term holding has proven to be profitable, plus even at current prices, with today’s rates, a mortgage where half your monthly payment is building equity is still way better than rent. If you can afford to buy a house, go get one.
That’s why I’m sticking to the basic essentials such as: beans, rice, veggies, fruit on sale, chicken/turkey on sale, water, etc. Plus I’m training myself to eat less,
I think it’s mostly a lifestyle decision. I used to prefer renting for the flexibility and less responsibility. Now I own so I can rent the home in a couple years and start building a RE portfolio.
They are making it harder to live fulltime in RVs. Plus demand has driven up prices like crazy. Campgrounds are becoming expensive, but if you know the ropes it can be more economical.
Bro, I found a property last week nice small ranch 1,500 sqft, 0.6 lot, no central AC, and driveway needed work. I submitted an offer for 170k and lost the offer to someone who offered 205k. No way was that property worth 205k.
@@Fatalinvesting It not if I would buy it. It’s not if you would buy it. It’s only if someone would buy it. If anybody would buy it at that price then that’s the value of that IPHONE. It’s called capitalism and it’s really sad your public school teachers didn’t teach you about it. 😢
@@TheTurdballs420 Why are you assuming that I do not know about Capitalism? Lol. My point is that some people dont care about fair value. Same thing with stocks people are willing to pay for overpriced companies just because. Then again you are probably one of those people that are buying $TSLA no matter what the price is.
Love your videos. We are currently renting but our landlord decided to up our rent by 50%. So we just put in a contract for a new home. This was not our plan but we ran out of options
Congrats! I'm thinking about doing the same and moving my family to another state where I can pay the same or less than what my rent is a month. I'm done with throwing away money!
What about building a house? We’ve saved for 13 years to start on our house, we own our property and we’re set to start building this fall but now I’m questioning whether we should wait or not?
I have 4 bedroom 4 bathroom twin home with a 2 car garage near Salt Lake City My rent was recently increased from 1550 to 1600 dollars per month Maybe I just have the greatest landlord ever?
I’m kicking myself so hard for not knowing that I needed to pay attention to the fed more then I did in the past. Could have refinanced and bought property. But now I’m ready for the next one.
Buy multifamily or nothing. I sold my house recently and made 3x what I paid for it. I didn't get to rent it out because I could make 5+ years of rental income by selling now. But the costs of owning are no joke. I had to rent a dumpster to throw trash out when I moved out to fit into a smaller house smh. When you own, prepare to pay for something every few months
In 2005 I was told to sell off my rentals because the guys in Davos said a crash was coming. I thought it would be 30%, but it ended up being 70% where I was, and everyone lost their jobs too, so the rents didn't get paid. Short story, wish I'd sold 90% and paid off the last. It feels like that right now.
I have a great job... but I'm starting to think renting and investing in other things is definitely the way to go. Houses stress me out thinking about them. I'd rather own a commercial property.
I feel like no one mentions it, but now that the standard deduction is $24,000 for Couple, The chances are people with mortgages aren’t paying enough in interest to itemize instead of just taking the standard deduction. Am I missing anything?
Yes. The main leverage is that renters can walk away from the rental property and not be on the hook for being "under water" on the mortgage...granted this still causes issues with housing availability along with the "simplistic" idea that Americans should have the ability to be independent home and property owners in a free open market society.
Thank you Jaspreet for taking the time to explain your financial knowledge of the housing market to me! As a first time home buyer that is meeting with a realestate agent tomorrow - your timing of this video was extremely serendipitous! Many thanks brother!
tough spot for everyone to be in. If I was looking to buy a house then I'd just live in my truck until the housing market collapses or renting rates drop. Of course, the risk is house prices keep rising for years. I think eventually, 20-30 years, there is going to be a huge amount of houses on the market that no one can afford or no one wants.
True, fixed mortgages don't fluctuate as do variable. But, let us consider retirees not connected to or among the " The Haves Club" for a moment. What happens when the I & T (taxes and insurance) go up 1\3. Now you have a much different and breath halting payment. The Principal, interest, taxes and insurance comprise many mortgage payments. Boxables are beginning to look pretty good to me.
@Minority Mindset Thank you for all your videos and financial insights. I've learned so much and I feel much better about where to put my money at certain times and invest smart.
@@TheTurdballs420 if that were true, I'd have less of a problem with the situation, actually. The fact is, the buy up of US property by the uber-wealthy is what is driving the escalating pricing. When renting becomes a bidding war, things have gotten out of control. It has nothing to do with keeping a neighborhood 'pure.'
Renting isn't becoming unaffordable unless you're in the Mega-cities of NYC and LA. For the common person you just have to look. I found my apartment I'm renting now on a community bulletin board. My landlord is on the older side. Deals can be found if you're lucky. I've got a 1 bedroom apartment with a washer and dryer in unit with utilities included for 785 in the city of Philadelphia.
If you are focused on building wealth you need to also subtract a line for the principal paid on your mortgage payment. That’s not money you are losing, it’s going out of one asset (cash), but straight back on another (house). On a 3% loan for $320k, your first month interest payment is $800, meaning in this example you are banking $500 in equity. Just want to compare net to net
I'm just sitting here, in my $1000 per month townhouse rental, waiting for the eventual market crash. No way am I buying a piece of property for more than it's actual worth. That's like waiting for a stock to increase in value before buying. I'm happy with what I have. My rent is inexpensive for the area and I'm not responsible for any of the maintenance or yard work. Ill just wait for something that's actually worth while
Refis and home loans are difficult and costly. Refi process ( hola hoops) and requirements are more difficult the poorer one is. My opinion (and I others too) is that during refis hiccups sometimes are intentionally done to stop or prevent it from going through. (Ex mini document errors). Many are trying to refi and are being blocked/prevented. Gov needs to pay attention and assist those who want/need to refi.
It’s not time to buy house or rent! Stay where you are, May be moved with family or get roommates. Overbidding and over priced is the things in real state right now
When it comes to forbearance, my bank just move those bills to be repay after my contract. But those payments will not have interest while the 30 year mortgage. I just don’t remember if I would have to pay in full or maybe in parts. Either way I will have money set aside exactly for when that day come.
$350 a month for maintenance is ridiculous, that's 126k over a 30 year mortgage. A new roof is 12k and lasts 25 years, new HVAC is 10K and has a 15 year warranty, a water heater is less than 1k, Floors can be replaced for 5-10k.
Sellers market, all the people with equity in theor home will loose it if they don’t sell now, they will loose a lot of money once interest rates go up, about 10% of the property value for each percentage point.
renting means someone owns it! Do you want to be the renter or rented ;) gotta start somewhere and look at the bigger picture for your own lifestyle not what a comment or video says
@@yunggrampa727 FHA does not allow for you to buy a home and use it as “investment property” like you were referring to, you must live in it, so technically its not an investment property, its your home but you rent out to others
@@yunggrampa727 also if you are interested in this type of home look into duplexes and triplexes, Im sure this is what you are looking for, thank me later
@@moisesmontesinos24 You must intend to live in the home when you purchase it and must also live in it for one year after purchasing it. After one year you can rent it out even with an fha loan. You generally can't have two fha loans at the same time though so its not repeatable unless you refinance when you have enough equity.
My wife and I just sold our house for a ridiculous profit. We are going to rent for 9 months. We will put a contract on a new build house in November/December and move in in May. We refuse to participate in the emotional bidding wars going on now.
@@r987p because inflation will go much higher! If you don’t take inflation seriously and don’t raise rates currencies around the world will loose a lot of their purchasing power, which means we will all be poorer
That multi-level real estate loophole might look good with the numbers, but I fear in practice it seems very risky, especially in today's market. All you need is a couple vacancies or some big maintenance (risk increases with how many levels you go down) to wipe away all your profits and be in a never-ending loop working for the bank with no profit or forced to sell at a loss, having all that paperwork and nonsense to deal with.
I got good job and Im about open be franchises owner. I was thinking of buying a house but I’m invest on the business and force on saving and invest on stock market. Since i work at home i can then probably live in different cities
The boom will continue as long as supply is lower then demand. When you put in offers on multiple houses and everytime you find something you want you get out bid then you start throwing more money at the problem. Builders are still having supply chain issues and not even giving paint options on houses. It isn't just lumber. The supply problems are also because of covid and people doing more projects at home because they are spending more time there then in the past. Expendable income went up for those that kept their jobs and stayed home more. People are realizing they can afford more home then in the past. There are pressures on both sides and even if interest rates go up slightly prices might just level out instead of going down. Many jobs are starting to lag more. Even Amazon is paying 20 an hour for their starting wage in some markets. I know Uber drivers that are making 300 on a bad day and average 500 a day, there is more money available. Times are exciting now, I saw a bubble in before the great recession, the liars/stated income /ninja loans were only part of the problem. I knew several people that ended up with interest only mortgages with 10 year balloon payments and crazy arm rates that started below 2% and adjusted after 3 years every year. The only bubble I see currently is the bond bubble as interest rates rise. I don't think. The fed will raise prime above 4.5 in the next 4 years and when they raise it, it will be slowly to not burst the bubble. Rates have been historically low for a long time now making it a more volatile tool to use to control the economy.
I really appreciate how much yall are teaching. Why do you say "labor shortage" and act like workers shouldn't be protecting themselves. Labor has been cheeeeap for a long time, and it still is! There's a shortage of fair wages for fair work, minimum wage and hiring/firing practices are a joke. Sometimes workers have the upper hand, but rarely
Our current rent is $1,600 a month. It’s going up to $2,100 a month starting in August. We just bought a house across the country in a much cheaper area and our mortgage will be $1,000 a month. People need to realize that moving is probably the only logical choice. Just because you want to be in your hometown or around family doesn’t mean you can afford to live there. The rich will get the coasts, lakes and mountains while the poor are stuck in undesirable areas.
It’s true. And really it’s only the last few generations that lived the dream of being able to stay where you are and raise a family where you grew up . For hundreds, if not thousands of years we were forced to follow the food, follow the work , and relocate to somewhere where we could prosper. It looks different now, but it’s essentially the same. If we want to make it , we have to be willing to relocate. Spending years stuck where we are and hoping to get ahead is going to waste valuable time.
We will see the problems again when they raise the rates and the economy start to slow and people get laid off, then they will start to fail to pay their mortgages, just as simple as that.
Unfortunately quality of content has been extremely poor lately. I got to unsubscribe for your channel. Videos are super long / stretched with same speech repeated over and over. Jaspreet you should shorten your videos, make them to the point and probably keep under 5-7 mins.
Fuck buying an overpriced house in a seller's market. I'll rent and live wherever the fuck I want and not have to worry about a bunch of extra bullshit. When prices fall I might consider buying. Herd mentality got a lot of my peer buying homes then not being able to afford eating out or enjoying their lives. Congrats! You are now a prisoner to, and in, your home. Peace.
why would you tell ppl to refinance?? That's TERRIBLE advice. They would lose all their progress and end up owing more despite lower interest rates. Are you working for the feds?
That depends on how long you've been in your home. Typically you're paying down majority interest at the beginning of the term. That's just my understanding.
@@ohhstrumpet She's referring to the fact that they add an extra 10k or 15k to the end of your loan. So if you were in your house for a year and even paid $100 towards the principal every month, you just wasted money for no reason especially if you plan on keeping your house for a long period of time. I know exactly what she's talking about because I almost did it but read the fine print in the paperwork. So that interest you been paying on just went to waste.
Is it me or he repeats himself in almost every video, come on man we need new content. You spoke very little about renting and it is the very premise of the title. I’ve watched a lot of your videos and some of them are very repetitive.
Thank you for watching! If you enjoyed this video, you should watch - 5 Secrets To Never Be Broke Again: th-cam.com/video/kb-Io7A5Sfc/w-d-xo.html
My employer wasn't willing to work with me...
they wanted to Micro Manage & Meticulously Nit-Pick
At the time I was one of their hardest working Employees (Above & Beyond)
But I struggled getting into work at the precise time they wanted me on the clock-
Non of my Positive Accolades made any difference to them, it didn't matter I covered more shifts, did more work, or stayed later than any employee at the company....
I was 5minutes late for Work and on their Skeleton Crew it was too big of an issue for them with other employees who I was always covering and never covered....
They gave me an Ultimatum and I told em to stick-it where the Sun don't Shine ~
Over Worked, Over Taxed, Underpaid, and Employers wonder why they can't find Employees?
Rent for a single bed at my apartment was 850$ a month, and now in July it has jumped up to now 1450$ a month. It is insane!! Now I'm looking for a house.
I'm not sure what state you are in but I suspect your complex may be raising rents to make up for the lost income of those not paying rent perhaps because they don't have to until eviction time comes. I could be wrong however.
Whattttt?
why do people put the $ after the number? who started this trend?
Post your state. Help us all get an idea.
@@vWaLLBangz Washington State, all around Spokane, Spokane Valley and Coeur d'Alene have all had their rents shoot up. Luckily I'm still under lease with my low $850 rent so I have a few months to get out. Judging by the comments maybe this area is just an outlier.
Rents in my area of Florida are increasing even faster than the price increases for a Home .
Bad time to buy a house or rent. Move in with family or friend buy maybe renting a single room. Otherwise live in a car, van, or camper truck.
✅
Good luck convincing artsy people in the 20s who survive on debt to move back in with their parents. Their moms might try to get them to stop drinking alcohol every night.
bro I've been living off my folks all through college. I got a full time job now. I can't seriously look them in the eye and still live off them.
@@othelliusmaximus That sounds like a you problem. Unless they’re kicking you out, it’s a you thing. I get it though. If you are financially stable and practicing good financial habits, you’re in a good spot.
Trying to time the housing market is a game of luck. Long term holding has proven to be profitable, plus even at current prices, with today’s rates, a mortgage where half your monthly payment is building equity is still way better than rent. If you can afford to buy a house, go get one.
Tiny and Alternative homes.
Less than most home down payments.
Grocery went up 30% just this year.
That’s why I’m sticking to the basic essentials such as: beans, rice, veggies, fruit on sale, chicken/turkey on sale, water, etc.
Plus I’m training myself to eat less,
I think it’s mostly a lifestyle decision. I used to prefer renting for the flexibility and less responsibility. Now I own so I can rent the home in a couple years and start building a RE portfolio.
I might just move into an RV and live that digital nomad lifestyle
They are making it harder to live fulltime in RVs. Plus demand has driven up prices like crazy. Campgrounds are becoming expensive, but if you know the ropes it can be more economical.
I’m seriously thinking about myself.
One reason I'm jealous of the work from home people. But, I know I suck at working on a computer I can't stay awake 😴
Or, tú puedes hablar español and come to Mexico
Bro, I found a property last week nice small ranch 1,500 sqft, 0.6 lot, no central AC, and driveway needed work.
I submitted an offer for 170k and lost the offer to someone who offered 205k.
No way was that property worth 205k.
That seems to be the problem everywhere now. My boss is trying to buy and a home and keeps getting out-bid.
Apparently it IS worth 205k because someone paid it
@@TheTurdballs420 I mean if an iPhone was priced at 10k would you buy it?
@@Fatalinvesting It not if I would buy it. It’s not if you would buy it. It’s only if someone would buy it. If anybody would buy it at that price then that’s the value of that IPHONE. It’s called capitalism and it’s really sad your public school teachers didn’t teach you about it. 😢
@@TheTurdballs420 Why are you assuming that I do not know about Capitalism? Lol.
My point is that some people dont care about fair value. Same thing with stocks people are willing to pay for overpriced companies just because. Then again you are probably one of those people that are buying $TSLA no matter what the price is.
it's not 65% of Americans that own homes, it's 65% of households. You are comparing household stats to individual stats.
Love your videos. We are currently renting but our landlord decided to up our rent by 50%. So we just put in a contract for a new home. This was not our plan but we ran out of options
In Florida, just did the same.
Officially under contract as of yesterday! About the same price as what I would be paying for rent if I re-signed my lease.
Congrats! I'm thinking about doing the same and moving my family to another state where I can pay the same or less than what my rent is a month. I'm done with throwing away money!
@@undone14 I will note, depending on where you move, it will be easier to get a townhome. That’s what me and my fiancée deciding on for our first home
In my area it would be more like this: buying for 3800/mo or renting for 2500/mo.
TH-cam is advertising Minority Mindset ads during your Minority Mindset videos. Is that what we call redundant?
I live in orange county California. 2 bed 2 bath we used to pay $2500 now increased $2800
What about building a house? We’ve saved for 13 years to start on our house, we own our property and we’re set to start building this fall but now I’m questioning whether we should wait or not?
Material prices are high as well not just finished homes. Just depends on what you can afford
Have you ever thought about modular buildings?
All I know is I wouldn't spend 13 years of savings on any type of house right now. Keep saving instead. What goes up must come down
I have 4 bedroom 4 bathroom twin home with a 2 car garage near Salt Lake City
My rent was recently increased from 1550 to 1600 dollars per month
Maybe I just have the greatest landlord ever?
Sounds like you have a great landlord for sure! My rent went from 1300 to 1660+ tax
That or you're in the "one of us" club.😳
That’s nuts Utah has been insane lately!
"You will own NOTHING, and YOU will be HAPPY."
But someone will own it.
Texas will not go for it!
Said no one ever...
Texas will not go for another shut down. We are “ A Right to WORK State”
I’m kicking myself so hard for not knowing that I needed to pay attention to the fed more then I did in the past. Could have refinanced and bought property. But now I’m ready for the next one.
Your the man, please 🙏 don't stop giving knowledge.
Buy multifamily or nothing. I sold my house recently and made 3x what I paid for it. I didn't get to rent it out because I could make 5+ years of rental income by selling now. But the costs of owning are no joke. I had to rent a dumpster to throw trash out when I moved out to fit into a smaller house smh. When you own, prepare to pay for something every few months
This is true.
Hay, from Texas
Can you please explain the FEDCOIN??????
The link to credible does not work. Is anyone else having this issue?
thank you for your future predictions based on observation and facts.
i gave up on buying home and just rent a room.
In 2005 I was told to sell off my rentals because the guys in Davos said a crash was coming. I thought it would be 30%, but it ended up being 70% where I was, and everyone lost their jobs too, so the rents didn't get paid.
Short story, wish I'd sold 90% and paid off the last.
It feels like that right now.
I have a great job... but I'm starting to think renting and investing in other things is definitely the way to go. Houses stress me out thinking about them. I'd rather own a commercial property.
Commercial properties have taken a huge hit. There is a surplus of commercial buildings due to covid and the financial benefits of remote work.
Your channel is loaded with great contents
Thank you !
Why would you consider a good score to buy a home
I feel like no one mentions it, but now that the standard deduction is $24,000 for Couple, The chances are people with mortgages aren’t paying enough in interest to itemize instead of just taking the standard deduction. Am I missing anything?
Point 5 is very true!!
No, rent is skyrocketing
Yes. The main leverage is that renters can walk away from the rental property and not be on the hook for being "under water" on the mortgage...granted this still causes issues with housing availability along with the "simplistic" idea that Americans should have the ability to be independent home and property owners in a free open market society.
Thank you Jaspreet for taking the time to explain your financial knowledge of the housing market to me! As a first time home buyer that is meeting with a realestate agent tomorrow - your timing of this video was extremely serendipitous! Many thanks brother!
tough spot for everyone to be in. If I was looking to buy a house then I'd just live in my truck until the housing market collapses or renting rates drop. Of course, the risk is house prices keep rising for years. I think eventually, 20-30 years, there is going to be a huge amount of houses on the market that no one can afford or no one wants.
I'm afraid that 40 year mortgages will become the norm.
True, fixed mortgages don't fluctuate as do variable. But, let us consider retirees not connected to or among the " The Haves Club" for a moment.
What happens when the I & T (taxes and insurance) go up 1\3. Now you have a much different and breath halting payment.
The Principal, interest, taxes and insurance comprise many mortgage payments.
Boxables are beginning to look pretty good to me.
@Minority Mindset Thank you for all your videos and financial insights. I've learned so much and I feel much better about where to put my money at certain times and invest smart.
Rent is becoming unaffordable, as is buying a home.
@@TheTurdballs420 and who exactly are the "little people"?
@@TheTurdballs420 if that were true, I'd have less of a problem with the situation, actually.
The fact is, the buy up of US property by the uber-wealthy is what is driving the escalating pricing.
When renting becomes a bidding war, things have gotten out of control. It has nothing to do with keeping a neighborhood 'pure.'
Renting isn't becoming unaffordable unless you're in the Mega-cities of NYC and LA. For the common person you just have to look. I found my apartment I'm renting now on a community bulletin board. My landlord is on the older side. Deals can be found if you're lucky. I've got a 1 bedroom apartment with a washer and dryer in unit with utilities included for 785 in the city of Philadelphia.
@@TheTurdballs420 I can only assume your being satirical.
@@TheTurdballs420 he may just be a decent person
variable interest loans were tied to the libor. they raised the payments exponentially almost immediately.
If you are focused on building wealth you need to also subtract a line for the principal paid on your mortgage payment. That’s not money you are losing, it’s going out of one asset (cash), but straight back on another (house). On a 3% loan for $320k, your first month interest payment is $800, meaning in this example you are banking $500 in equity. Just want to compare net to net
Nice shirt at 49min bro
I'm just sitting here, in my $1000 per month townhouse rental, waiting for the eventual market crash. No way am I buying a piece of property for more than it's actual worth. That's like waiting for a stock to increase in value before buying. I'm happy with what I have. My rent is inexpensive for the area and I'm not responsible for any of the maintenance or yard work. Ill just wait for something that's actually worth while
Refis and home loans are difficult and costly. Refi process ( hola hoops) and requirements are more difficult the poorer one is. My opinion (and I others too) is that during refis hiccups sometimes are intentionally done to stop or prevent it from going through. (Ex mini document errors). Many are trying to refi and are being blocked/prevented. Gov needs to pay attention and assist those who want/need to refi.
It’s not time to buy house or rent! Stay where you are, May be moved with family or get roommates. Overbidding and over priced is the things in real state right now
Excellent video...thanks for sharing, as always.
When it comes to forbearance, my bank just move those bills to be repay after my contract. But those payments will not have interest while the 30 year mortgage. I just don’t remember if I would have to pay in full or maybe in parts. Either way I will have money set aside exactly for when that day come.
so @ the end of the day should i buy or rent?? didnt get a clear answer after all🤦🏽♂️
It depends on your income and regional real estate market. Real estate can very greatly in different regions...........
Thank you, I learn alot from your videos.
07:20 "I understand my lines are getting messed up in terms of spacing" LMAOO!! The timing of this video is perfect though :)
$350 a month for maintenance is ridiculous, that's 126k over a 30 year mortgage. A new roof is 12k and lasts 25 years, new HVAC is 10K and has a 15 year warranty, a water heater is less than 1k, Floors can be replaced for 5-10k.
If you take under account inflation of 2.5% just putting roof will cost you $34k, 12k now and 22k in 25 years. It can easily add up to 126k.
Very insightful thank you sir 🙏🏽
Sellers market, all the people with equity in theor home will loose it if they don’t sell now, they will loose a lot of money once interest rates go up, about 10% of the property value for each percentage point.
I want to buy a home, but I need the money. So I'll be living in my $750 apartment until I can afford to buy a home. No way im doubling my rent
what area do you live?
@@Merdenoms Philadelphia
renting means someone owns it! Do you want to be the renter or rented ;) gotta start somewhere and look at the bigger picture for your own lifestyle not what a comment or video says
😂
BELOW
Can you talk about using a fha loan to buy an “investment property”
you cant
@@moisesmontesinos24 yes you can watch the video til the end before you give out financial advice and you don’t know what you’re talking about
@@yunggrampa727 FHA does not allow for you to buy a home and use it as “investment property” like you were referring to, you must live in it, so technically its not an investment property, its your home but you rent out to others
@@yunggrampa727 also if you are interested in this type of home look into duplexes and triplexes, Im sure this is what you are looking for, thank me later
@@moisesmontesinos24 You must intend to live in the home when you purchase it and must also live in it for one year after purchasing it. After one year you can rent it out even with an fha loan. You generally can't have two fha loans at the same time though so its not repeatable unless you refinance when you have enough equity.
When you own your home you never have to worry about the rent going up.
No but you do have to worry about property taxes going up
Omg. I’m going to get on this 4plex idea at the end, like stat. This video was great.
Rents will keep going up..and tenants will be screened alot more diligently
Well currently I have a rent to own that I bought 4 months ago that's being remodeled....
Wow. Excellent video.
Thanks this Video was much needed! Very good wake up call 😮💨
50:08 You can NOT buy a mansion in Utah for $300K LOL Not even close. FYI
I get he was being hyperbolic about it, but it looks bad on his end.
My wife and I just sold our house for a ridiculous profit. We are going to rent for 9 months. We will put a contract on a new build house in November/December and move in in May. We refuse to participate in the emotional bidding wars going on now.
It depends on your budget and income. Also, I like to save 80% before I even think about buying a roof over my head.
Because of the low interest rates since 2008...we are in a everything bubble! We are in trouble when this bubble pops
If rates don't go up why are we in trouble?
When we had trouble in 2018 they just down to fight it... why do they have to go straight up now?
@@r987p because inflation will go much higher! If you don’t take inflation seriously and don’t raise rates currencies around the world will loose a lot of their purchasing power, which means we will all be poorer
I know this is gonna sound crazy but imagine if we had negative interest rate
It’s not the right time to buy. People had their chances. They can wait.
That multi-level real estate loophole might look good with the numbers, but I fear in practice it seems very risky, especially in today's market. All you need is a couple vacancies or some big maintenance (risk increases with how many levels you go down) to wipe away all your profits and be in a never-ending loop working for the bank with no profit or forced to sell at a loss, having all that paperwork and nonsense to deal with.
Scared money doesn’t make money. There is always a risk in business. Always.
I got good job and Im about open be franchises owner. I was thinking of buying a house but I’m invest on the business and force on saving and invest on stock market. Since i work at home i can then probably live in different cities
The boom will continue as long as supply is lower then demand. When you put in offers on multiple houses and everytime you find something you want you get out bid then you start throwing more money at the problem. Builders are still having supply chain issues and not even giving paint options on houses. It isn't just lumber. The supply problems are also because of covid and people doing more projects at home because they are spending more time there then in the past. Expendable income went up for those that kept their jobs and stayed home more. People are realizing they can afford more home then in the past.
There are pressures on both sides and even if interest rates go up slightly prices might just level out instead of going down. Many jobs are starting to lag more. Even Amazon is paying 20 an hour for their starting wage in some markets. I know Uber drivers that are making 300 on a bad day and average 500 a day, there is more money available.
Times are exciting now, I saw a bubble in before the great recession, the liars/stated income /ninja loans were only part of the problem. I knew several people that ended up with interest only mortgages with 10 year balloon payments and crazy arm rates that started below 2% and adjusted after 3 years every year. The only bubble I see currently is the bond bubble as interest rates rise. I don't think. The fed will raise prime above 4.5 in the next 4 years and when they raise it, it will be slowly to not burst the bubble. Rates have been historically low for a long time now making it a more volatile tool to use to control the economy.
I feel so educated! Thanks Jaspreet! You’re the best!! I’ve watched every single MM video👌🏻
I need to buy a duplex and let my tenants pay off my loan
I was the 3rd guy my wife ever dated
This comment made my day
That’s what she told YOU.
Millions of modern women have been taught to say that.
@simon kilface
Redpilled 😄
I really appreciate how much yall are teaching. Why do you say "labor shortage" and act like workers shouldn't be protecting themselves. Labor has been cheeeeap for a long time, and it still is! There's a shortage of fair wages for fair work, minimum wage and hiring/firing practices are a joke. Sometimes workers have the upper hand, but rarely
Who knows someone who isn’t paying their rent/mortgage?
Good video
Mortgage payments change because insurance and taxes go up
Our current rent is $1,600 a month. It’s going up to $2,100 a month starting in August. We just bought a house across the country in a much cheaper area and our mortgage will be $1,000 a month.
People need to realize that moving is probably the only logical choice. Just because you want to be in your hometown or around family doesn’t mean you can afford to live there. The rich will get the coasts, lakes and mountains while the poor are stuck in undesirable areas.
It’s true. And really it’s only the last few generations that lived the dream of being able to stay where you are and raise a family where you grew up . For hundreds, if not thousands of years we were forced to follow the food, follow the work , and relocate to somewhere where we could prosper. It looks different now, but it’s essentially the same. If we want to make it , we have to be willing to relocate. Spending years stuck where we are and hoping to get ahead is going to waste valuable time.
Jaspreet - MY NINJA !!!!
LOAN ME A DOLLAR MY NINJA !!!
Oppertunity cost.... so me going on a 4 thousand dollar vacation is really losing 8 thousand lol. F me
Of course it's the time to rent! If you can't afford to buy a home what other option do you have? Find a sidewalk to sleep on?
If you’re just getting started, don’t buy or rent, buy and rent out to roommates so you can live for free.
I did this my last year of college and it was perfect. I was able to buy a house on part time income
Share kitchen and bathroom and living room that would suck.. maybe just rent the basement with separate entrance
I live IN A VAN DOWN BY THE RIVER!!!!
@@maxianoacosta it can suck but if you can rent to friends it's not so bad. It doesn't suck getting 1000+ a month in passive income.
@@carsonkrueger3661 sometimes close friends can turn into something else but sometimes not
We will see the problems again when they raise the rates and the economy start to slow and people get laid off, then they will start to fail to pay their mortgages, just as simple as that.
Unfortunately quality of content has been extremely poor lately. I got to unsubscribe for your channel.
Videos are super long / stretched with same speech repeated over and over.
Jaspreet you should shorten your videos, make them to the point and probably keep under 5-7 mins.
Fuck buying an overpriced house in a seller's market. I'll rent and live wherever the fuck I want and not have to worry about a bunch of extra bullshit. When prices fall I might consider buying. Herd mentality got a lot of my peer buying homes then not being able to afford eating out or enjoying their lives. Congrats! You are now a prisoner to, and in, your home. Peace.
why would you tell ppl to refinance?? That's TERRIBLE advice. They would lose all their progress and end up owing more despite lower interest rates. Are you working for the feds?
That depends on how long you've been in your home. Typically you're paying down majority interest at the beginning of the term. That's just my understanding.
@@ohhstrumpet She's referring to the fact that they add an extra 10k or 15k to the end of your loan. So if you were in your house for a year and even paid $100 towards the principal every month, you just wasted money for no reason especially if you plan on keeping your house for a long period of time. I know exactly what she's talking about because I almost did it but read the fine print in the paperwork. So that interest you been paying on just went to waste.
🤣🤣🤣🤣🤣
Do the world a favour. Start a university. I couldn't stand PHDs flexing their degree complicating words for no reason "teaching me" the course.
This video is way too long
Any Millenials thinking about sending this video to their partner or family? 😂
I call complete and utter BS, pants on fire, for your "Average Home Prices." Site your source!
We need NINJA loans again!
5th wheel
👏🏽🇬🇧
4th dog
Crash has been coming since 2015...
Look like ✈ variant lockdowns may cause another insane winter...
Only if you allow elitists to lock you down
@@Fredman5551 I'm in TX... not gonna happen here. Only blue 💩 holes.
I smashed the 👍 ...BELOWWWW... If I could smash it and spam it, I'd probably hit it a million times
Stop talking about stupid real-estate its pointless its unobtanium as Mike Maloney says.
Is it me or he repeats himself in almost every video, come on man we need new content. You spoke very little about renting and it is the very premise of the title. I’ve watched a lot of your videos and some of them are very repetitive.
This is a great time to live in your mom's basement.
4th
2nd
Strange?