The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@mariaguerrero08Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
@@hazardblue567Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Bitcoin and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
Employing a professional financial analyst or advisor can certainly add value by offering tailored advice, portfolio diversification, risk management, and timely insights. Their expertise can potentially speed up wealth creation and navigate market complexities, but it's important to choose someone reputable and consider their fees, as they can impact your overall returns.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $50k after the 2020 crash I invested the money using an analyst, and in several weeks, I raked in almost $200k
Woah for real? I'm so excited. Evelyn Burchett's strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments 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.
Personally, I can connect to that. When I began working with Laurel Dell Sroufe, a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
No financial institution should be allowed to own 40% or more of the single family homes. This recession is paving a way for a monopoly on homes to further rid of the middle class. It would be wise for most Americans to not sell their homes if they're able to.I want to buy houses cheap in 2024 and maybe invest in stocks.
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.
For those saying don't buy, my other option is renting...which seem worse as I spend 30k a year In rent...even if house prices drop by 30k a year for the next 3 years I still am better buying...
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.
Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
This is very amazing, I hope this inspires someone that it doesn't matter if you don't have any of them right now; you can start TODAY regardless of your age to invest and change your future! I wasn't financially free until my 40s and I'm still in my 40s, have already purchased my third house, earn on a monthly basis through passive income, and achieved 4 out of 5 goals. I made a wise decision when I decided to invest in the financial market
Even with the right strategy and resources, some investors would still outperform others. As an investor, you should be aware of this by now. For me personally, I had to ask a market analyst for advice in order to grow my account close to a million dollars, withdraw my profit just before the correction, and start buying again.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with ‘’Colleen Janie Towe’’" for the last five years or so, and her returns have been pretty much amazing
@@LionTowercoporation Thank you for this tip , I must say, Colleen appears to be quite knowledgeable. After coming across her web page, I went through her resume and I must say, it was quite impressive. I reached out and scheduled a call
Im 47 and getting started. My downside is my age. I think i have 10 good years to start this. On the plus side i can do anything construction wise. Thats a plus.
I started at 50. By 57 I sold the five homes I had and bought a 12-unit multi-family and retired at 60. Now 65 and selling the building for a more passive income and lifestyle. There are so many paths to follow in RE investing. Best to your future.
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
How can I make this happen? I already have 3 properties and the bank won't lend with no down payment. I live in a highly competitive market, there's no such thing as no money deals. I checked with three different real state agents who are also investors, they could not find ANY no money deals. Not even land.
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 more, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
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.
Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
You are right! I’ve diversified my 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.
“Angela Lynn Schilling” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
@@nskgraffyes but when interest rates go back down to 5.5% or lower (I believe that's gonna be a thing again starting in December or January) the outlook of the market will change completely. more buyers will emerge, but a ton of more inventory will as well. so it seems like prices are gonna dip for a second and then get back up to where they are, or just remain the same period. should be an interesting few months, but one thing for sure is that boomers like the uploader here are preaching to a crowd of their own, and they'd be drowning in this current economy. I'd love to take this guy's advice but I wasn't born in 1967. this guy doesn't have a clue.
Thank you Thach from a Kiwi living in Vietnam with my wonderful Vietnamese Family , we have all our property all paid off. I have been in property since I was 17years and you are the first person I have seen advocating the virtues having less paid off properties as the years pass . Being Free of financiers and being Content is a great way to Live.
@@ThachNguyenYeah, I have two SFH rentals in Kent and one in Auburn (Lakeland Hills). But buying a property where I can add a DADU would be a good experience to go through.
I read the comments. Many of these people just don’t understand do they? They just don’t get it. I mean this man is giving all this knowledge on a platter of gold and all I’m seeing is complaints. I guess it’s a mindset thing. You either have it or you don’t. Thach I can’t thank you enough. This info is fire.
Mucho kudos to you Thach for emphasizing the importance of paying off your mortgage sooner rather than later. I feel that too many Guru's & wannabe influencers on social media preach the "never PAYOFF your mortgage" philosophy because of the perceived advantage of low interest mortgage rates and tax savings but are the same people to complain that they fell victim to the 2008 RE market crash when they lost everything. Thanks once again for explicitly emphasizing and including the importance of "PEACE OF MIND" to the equation !😊❤
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family....
@rachealhubert74 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
I began investing at the age of 40 primarily by leveraging my hard work and dedication. Now, at 45 years old, I recently achieved a milestone where my passive income exceeded $100,000 in a single month. This success reinforces the importance of following this valuable advice. Take action and make it happen
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $489k in just the past two quarters. this experience has shed light on why experience traders are able to generate substantial return even in lesser -known market. It's safe to say that this bold decision has been one of the most impactful choices I have made recently.
Yes, My mentor CHARLOTTE GOLDYN ALLAN has extensive training and knowledge in the financial industry. She is regarded as an authority in the field and has an in-depth understanding of portfolio diversification. I advise doing more study on her credentials. She is a great resource for anyone looking to understand the financial market because of her extensive experience.
I searched for the name and I found her website, where I saw her qualifications and testimonials that looked impressive, with many positive reviews. I reached out to her to discuss my financial goals. Thank you for pointing me in the right direction.
Thanks for sharing about how to do a pay down strategic system. That's super cool. I'm actually a 13 unit apartment owner, owner operator, and I just wanna pay off my 2nd building. I got a 25 year, with a 5 year fix @ 4.25%, adjustable after that. Just 2 years into it. I think I got a great deal, made it cash flow in just 1 year. I'm so looking for peace of mind.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
I’m so glad I didn’t really make any big mistakes when I started my investment journey last year. So far I’ve just been sticking small amounts of money into companies I’m sure will continue to exist for the next five years and if the stocks do well, I hold on. If not, I reinvest the bad ones into the good ones so I can get higher gains. I gained about $9.5k from putting in $4k into NVIDIA earlier this year so that was pretty nice.
My portfolio is made up of dividend etf’s, dividend stocks, growth stocks, it allows a bit more freedom in specific areas with help of an advisor CHRIS RYAN STEWART who I’ve been in touch with over the years before buying any stocks and it’s been working perfectly for me.
In my taxable account I went into dividend investing route. In my Roth I did the buy and hold route with an S&P 500 etf and total market etf along with some Berkshire B stock and SCHD.
Great info, how can I get someone like that?…. I’m bombarded with the “don’t sit on it during the inflation, I wanted to jump in 8/22 and did nothing so far this year I think I need to get my feet wet
I love your content and your style! I have been telling my 20 year old daughter to listen to you. She went to real estate school and wants to build wealth. I told her real estate and Thach will get you there. ❤
It's like asking an alcoholic if they believe you should have a drink or not to ask a real estate agent if you should buy a house right now. In my neighborhood, properties that sold for about $450k in 2019 are now selling for between $800 and $950k. Right now, every seller in my area is bringing in $350,000. Just unbelievable. To be honest, what we need is deflation. Going bankrupt would be the only other alternative, and that would be detrimental to the economy as well. There's no other way to get back to normal.
As someone who has done 1 flip, has had 9 rentals, and has done the brrr before. do NOT try to brr in the start. It is harder than most says. Never do it with hard money unless you know what you are doing 100%
You are 100% right , you can’t put a value on piece of mind and health. You can buy a lot of things or houses ; but you can’t buy peace of mind, time and health . There has to be a balance between the two and allow plenty of time to enjoy the fruits of your labour.
Thach. You’re the best. Love the education. I was wondering if you’re willing to do a video on General Contractors? What to ask them? What to watch out for? How to compare one from another? How would you recommend paying them? Average timeline for flipping you would expect? And anything else you can think of. The BRRR method is very understandable. But renovation part hangs me up. Thank you 🙏 love the content
You can only have one 3.5 percent down property at a time. So you can’t repeat that. 1 FHA loan per person. If you want to buy a second one with an FHA loan and move to it then you can as long as the previous one has been paid down 20 percent. Seeing how most of the first payment goes towards interest, it isn’t that quick. Other than that good video.
Great video, I’m a new subscriber been learning a lot from your videos. I was thinking to relocate in Oregon How long do I have to stay until I can buy my own house?
Thanks man, watching from South Africa and glad to hear from someone that resonate with me, it's all about the Peace of mind and freedom. I just need to figure out the tax implications now, 6 down, 4 to go for me.
Thach, thank you. I’m a 25 year old new father making about 20k a month right now, looking to get into rental properties. You’ve helped me get a clearer mind in all of this. Especially in the “paying off” your property. Hope to meet you one day my man.
Peace of mind, not worrying about outstanding debt that could land you in financial troubles is certainly underrated. I think the best risk mitigation strategy is understanding your "Sweet Spot", or when to buy and hold vs buy and sell later down the road. In some degree, you can treat properties like stock options. Diversification is key. Not sure if I would say real estate beats out the S&P but real estate is responsible for producing 90% of the US's millionaires so count me in.
In my opinion, house prices will continue down as people leave the state and prices correct due to market pressure. The problem with Florida is the property taxes increased based on the boom and the cost or inability to obtain homeowners insurance. Florida's in for a rough 5 years imo.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors 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 a broker, before I started seeing any significant results in my portfolio, been using the same Adviser 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.
This is why commercial property is better to invest in if you dont have a good credit score or a high income job. Because when it comes to apt buildings your income & credit score doesnt matter. They judge based on the property your buying & the income its capable of producing.
I'm a Canadian, and I want to learn these things. I know Thatch is in the USA, and a lot of these tax perks in the USA. I want to see if i can apply this knowledge in Canada.
Hey Thach, Very good points for making end of year payments, quarterly payments or even monthly payments toward the principal in order to payoff mortgages quickly. I also found your examples very helpful, especially for investors that are in their 50s. Thank you for sharing you knowledge.
Having multiple streams of income is a game changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectation.
Thach! Thank you for this awesome video... I was wondering.. which bank would be aggressive enough around the Seattle area that would actually help you scale this way like you mention in this video? Thank you!
fr is it even possible to get 10 mortgages under yourself at a given time, Ofcoursee not at once but I feel like after 2 or 3 it would be hard to get approved.
Question. 43 years old. House paid off. Just bought first rental property. Right after ran into 200k. Want to get to 10k passive monthly income. Bringing in 125k yearly. Should we use all the money in the beginning and buy properties with more down or space the money out and buy properties with smaller down payments??
😨SERIOUSLY THOUGH! With high market values and relatively high interest rates, how would a first time real estate investment buyer compete with local rental prices that are most likely going to be much lower than what the mortgage alone would be on the investment property?
Con mới từ Việt Nam qua thì nên làm gì khi không có tiền chú ? Con đang tìm hiểu về credit card và con rất hứng thú về những gì chú đã chia sẻ? Không biết chú có thể làm mentor của con không ạ?
If i was to get a property and lease it as a rental, would i still get my rent from property management if i have no tenant? Just wondering because I have had very mixed responses with this.
We rented our only home 8 years ago and we travel and live in free housing because of my wife job , now it is the time to buy the second property but i feel like all houses increased by $50k-$100k .... Most of the houses i am looking for the rent wont cover the mortgage, i don't know what to do !!!!
This is great man! Especially repsyment on propertys plan. Just brilliant! At the moment buying houses, not repaying them yet, but this is excellent clip! Keep up good work . Thanks
You make it sound so easy. It is absolutely not easy. You must have money and lots of it not only in savings but coming in every month in your current job to even get started. But yeah, in a perfect world this is a great strategy. Very very few people will actually be able to execute this plan. The positive upside, though, is it is actually possible.
It’s crazy to see a lot of negative comments about how bad real state is right now!! Remember trash can be gold for other. I’m 20 years old bought my first house at 19 and yes everyone said it was the dumbest thing I could of done because of prices and interest and look I just close a duplex under my primary house with only 5% and put my other house to rent making 600$ of profit and the I’m charging 1.8k for one duplex and we’ll I been living on the other one for 5 months and my mortage is 2.6 so I’m paying 800 dollars for my front duplex but with my first house profit I’m living for 200 dollars with a duplex and once’s I have a years ima buy another one and ima be able to rent the current duplex where I’m living for 1.8k as well don’t sleep on because everything always going to make money as long as you do it right
Not quite what the “BRRR” method actually is but I definitely like the “peace of mind” aspect that paying off property provides. It also maximizes your cash flow.
Watching you is so humbling !! you hit the nail on the head peace of mind is it ..the goal from the start was financial freedom. not the race to see who can get the most houses etc .. love this channel !!
The issue is that either the renter or the owner must in some way pay insurance and property taxes if they want a "permanent roof" with utilities like electricity, gas and water. Because of this, many people-at least in California, where I currently reside-are living in tents. No taxes, rent, mortgages, or insurance. The number of people who tell me they live in their car that I meet amazes me. Its crazy out here!
It’s getting wild by the day. The prices of homes are quite ridiculous and Mortgage prices has been skyrocketing on a roll(currently over 7%). Sometimes i wonder if to just invest my spare cash into the stock market and wait for a housing crash or just go ahead to buy a home anyways.
I get such worries too. I'm 50 and retiring early. Already worried of the future and where its headed, especially in terms of finances and how to get by. I'm also considering making my first investment in the stock market, but how can I do so given that the market has been in a mess for the majority of the year?
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
@@mariaguerrero08Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.
'Gertrude Margaret Quinto' maintains an online presence. Just make a simple search for her name online.
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
@@hazardblue567Even with the right technique and assets some investors would still make more than others. As an investor, you should've known that by now that nothing beats experience and that's final. Personally I had to reach out to a stock expert for guidance which is how I was able to grow my account close to $35k, withdraw my profit right before the correction and now I'm buying again.
@@TheresaDiana12Trading under the guidance of an expert is the best strategy for beginners.
@@ChristineElliotttwanted to trade, but I got discouraged with the market price fluctuations 😊
I also keep seeing lot's of people testifying about how they make money investing in Stock, Forex and Bitcoin and I wonder why I keep loosing. Can anyone help me out or at least advice me on what to do.
Hit 200k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024.
Wow that's huge, how do you make that much monthly?
I'm 37 and have been looking for ways to be successful, please how??
Employing a professional financial analyst or advisor can certainly add value by offering tailored advice, portfolio diversification, risk management, and timely insights. Their expertise can potentially speed up wealth creation and navigate market complexities, but it's important to choose someone reputable and consider their fees, as they can impact your overall returns.
I agree with you. I started out with investing on my own, but I lost a lot of money. I was able to pull out about $50k after the 2020 crash I invested the money using an analyst, and in several weeks, I raked in almost $200k
Woah for real? I'm so excited. Evelyn Burchett's strategy has normalised winning trades for me also. and it's a huge milestone for me looking back to how it all started
Asking a real estate agent whether you should buy a home right now is like to asking an alcoholic whether they think you should have a drink lol. Homes in my neighborhood that cost around $450k in sales in 2019 are now going for $800 to $950k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The only other option is for many people to go bankrupt, which would also be bad for the economy. That is the only way to return to normal.
Home prices will come down eventually, but for now; its best to offset some of your real estate investments 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.
Personally, I can connect to that. When I began working with Laurel Dell Sroufe, a fiduciary financial counsellor, my advantages were certain. In these circumstances, I would always advise getting professional help so they can steer you through choppy markets and just give you indicators and strategies for knowing when to enter and exit the market.
@@TomD226 I'd be glad to get the help of one, but just how can one spot a reputable one? How did you spot this Laurel ?
@lowcostfresh2266 Laurel Dell Sroufe maintains an online presence that can be easily found through a simple search of her name on the internet.
No financial institution should be allowed to own 40% or more of the single family homes. This recession is paving a way for a monopoly on homes to further rid of the middle class. It would be wise for most Americans to not sell their homes if they're able to.I want to buy houses cheap in 2024 and maybe invest in stocks.
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.
For those saying don't buy, my other option is renting...which seem worse as I spend 30k a year In rent...even if house prices drop by 30k a year for the next 3 years I still am better buying...
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?
Finding financial advisors like Margaret Johnson Arndt who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
This is very amazing, I hope this inspires someone that it doesn't matter if you don't have any of them right now; you can start TODAY regardless of your age to invest and change your future! I wasn't financially free until my 40s and I'm still in my 40s, have already purchased my third house, earn on a monthly basis through passive income, and achieved 4 out of 5 goals. I made a wise decision when I decided to invest in the financial market
Even with the right strategy and resources, some investors would still outperform others. As an investor, you should be aware of this by now. For me personally, I had to ask a market analyst for advice in order to grow my account close to a million dollars, withdraw my profit just before the correction, and start buying again.
@@LionTowercoporation That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with ‘’Colleen Janie Towe’’" for the last five years or so, and her returns have been pretty much amazing
@@LionTowercoporation Thank you for this tip , I must say, Colleen appears to be quite knowledgeable. After coming across her web page, I went through her resume and I must say, it was quite impressive. I reached out and scheduled a call
Im 47 and getting started. My downside is my age. I think i have 10 good years to start this. On the plus side i can do anything construction wise. Thats a plus.
Same here just bought my first rental property at 50 years old, better late than never.
@@HN-db5cn I'm excited for you!
I started at 50. By 57 I sold the five homes I had and bought a 12-unit multi-family and retired at 60. Now 65 and selling the building for a more passive income and lifestyle. There are so many paths to follow in RE investing. Best to your future.
@@mikep4869 ty so much
@@badinstinctsTH-cam-xb3oj Please share your secret to starting and retiring all in the same year. If that was possible, why even start at that age.
I came across your channel through this video-case studies are incredibly valuable, and I'm eager to see more in the future! Building wealth involves establishing routines, like consistently setting aside funds at regular intervals for smart investments.
That sounds like a good plan. In the past two years, working closely with a financial market specialist, I've built a six-figure diversified stock portfolio. Now, I aim to diversify even more this year.
My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
How can I make this happen? I already have 3 properties and the bank won't lend with no down payment. I live in a highly competitive market, there's no such thing as no money deals. I checked with three different real state agents who are also investors, they could not find ANY no money deals. Not even land.
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 more, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
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.
Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.
I work with Sonya Lee Mitchell as my fiduciary advisor. Simply look up the name. You would discover the information you needed to schedule an appointment.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
I predict a housing crash due to people buying homes over asking price, lacking equity if prices decline further. Foreclosure becomes likely if they can't afford the house, and selling won't yield profits. With anticipated layoffs and rising living costs, many individuals may face this situation.
You are right! I’ve diversified my 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.
“Angela Lynn Schilling” is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Won’t happen too many people locked in Low interest rates
@@nskgraffyes but when interest rates go back down to 5.5% or lower (I believe that's gonna be a thing again starting in December or January) the outlook of the market will change completely. more buyers will emerge, but a ton of more inventory will as well. so it seems like prices are gonna dip for a second and then get back up to where they are, or just remain the same period. should be an interesting few months, but one thing for sure is that boomers like the uploader here are preaching to a crowd of their own, and they'd be drowning in this current economy. I'd love to take this guy's advice but I wasn't born in 1967. this guy doesn't have a clue.
Only on a small scale 30% home have no mortgage
50% less than 4% with crazy low payment
Thank you Thach from a Kiwi living in Vietnam with my wonderful Vietnamese Family , we have all our property all paid off. I have been in property since I was 17years and you are the first person I have seen advocating the virtues having less paid off properties as the years pass . Being Free of financiers and being Content is a great way to Live.
That Peace of Mind and Time Freedom to spend time with your family is what it's all about. Wish I had a mentor who taught me this earlier.
You invest today?
@@ThachNguyenYeah, I have two SFH rentals in Kent and one in Auburn (Lakeland Hills). But buying a property where I can add a DADU would be a good experience to go through.
I read the comments.
Many of these people just don’t understand do they? They just don’t get it.
I mean this man is giving all this knowledge on a platter of gold and all I’m seeing is complaints.
I guess it’s a mindset thing. You either have it or you don’t.
Thach I can’t thank you enough. This info is fire.
Mucho kudos to you Thach for emphasizing the importance of paying off your mortgage sooner rather than later. I feel that too many Guru's & wannabe influencers on social media preach the "never PAYOFF your mortgage" philosophy because of the perceived advantage of low interest mortgage rates and tax savings but are the same people to complain that they fell victim to the 2008 RE market crash when they lost everything. Thanks once again for explicitly emphasizing and including the importance of "PEACE OF MIND" to the equation !😊❤
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family....
@rachealhubert74 Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. Alice Marie Coraggio, a licensed fiduciary whom has made me over 5 figures in profit in less than seven months, handles my investments. I could leave you a lead if you need help.
@rachealhubert74 Alice Marie Coraggio
Lookup with her name on the webpage
scammers
one of the best RE VIDEOS
thank you Thach! I’m a realtor out of Texas & I enjoy growing my personal knowledge from you!
I began investing at the age of 40 primarily by leveraging my hard work and dedication. Now, at 45 years old, I recently achieved a milestone where my passive income exceeded $100,000 in a single month. This success reinforces the importance of following this valuable advice. Take action and make it happen
I understand that tomorrow isn't promised to anyone, but investing today is hard for me now because I have no idea of how and where to invest in. I would be happy if you could advise me based on how you went about yours, as I am ready to go the passive income path.
Through closely monitoring the performance of my portfolio, I have witnessed a remarkable growth of $489k in just the past two quarters. this experience has shed light on why experience traders are able to generate substantial return even in lesser -known market. It's safe to say that this bold decision has been one of the most impactful choices I have made recently.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
Yes, My mentor
CHARLOTTE GOLDYN ALLAN has extensive training and knowledge in the financial industry. She is regarded as an authority in the field and has an in-depth understanding of portfolio diversification. I advise doing more study on her credentials. She is a great resource for anyone looking to understand the financial market because of her extensive experience.
I searched for the name and I found her website, where I saw her qualifications and testimonials that looked impressive, with many positive reviews. I reached out to her to discuss my financial goals. Thank you for pointing me in the right direction.
Nice to see you on TH-cam brother. Thank you for sharing. Because of you I have 3 properties now and building an ADU on one of my properties 😅
Thanks for sharing about how to do a pay down strategic system. That's super cool. I'm actually a 13 unit apartment owner, owner operator, and I just wanna pay off my 2nd building. I got a 25 year, with a 5 year fix @ 4.25%, adjustable after that. Just 2 years into it. I think I got a great deal, made it cash flow in just 1 year. I'm so looking for peace of mind.
Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly.
Investors should exercise caution with their exposure and exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or trusted advisor in order to navigate this recession and achieve potential high yields
I’m so glad I didn’t really make any big mistakes when I started my investment journey last year. So far I’ve just been sticking small amounts of money into companies I’m sure will continue to exist for the next five years and if the stocks do well, I hold on. If not, I reinvest the bad ones into the good ones so I can get higher gains. I gained about $9.5k from putting in $4k into NVIDIA earlier this year so that was pretty nice.
My portfolio is made up of dividend etf’s, dividend stocks, growth stocks, it allows a bit more freedom in specific areas with help of an advisor CHRIS RYAN STEWART who I’ve been in touch with over the years before buying any stocks and it’s been working perfectly for me.
In my taxable account I went into dividend investing route. In my Roth I did the buy and hold route with an S&P 500 etf and total market etf along with some Berkshire B stock and SCHD.
Great info, how can I get someone like that?…. I’m bombarded with the “don’t sit on it during the inflation, I wanted to jump in 8/22 and did nothing so far this year I think I need to get my feet wet
I love your content and your style! I have been telling my 20 year old daughter to listen to you. She went to real estate school and wants to build wealth. I told her real estate and Thach will get you there. ❤
Ofcourse but people must give focus to it
This is one of the best videos I've ever seen. Thanks!
Great video and teaching. My goal is to pay off my properties.
It's like asking an alcoholic if they believe you should have a drink or not to ask a real estate agent if you should buy a house right now. In my neighborhood, properties that sold for about $450k in 2019 are now selling for between $800 and $950k. Right now, every seller in my area is bringing in $350,000. Just unbelievable. To be honest, what we need is deflation. Going bankrupt would be the only other alternative, and that would be detrimental to the economy as well. There's no other way to get back to normal.
As someone who has done 1 flip, has had 9 rentals, and has done the brrr before. do NOT try to brr in the start. It is harder than most says. Never do it with hard money unless you know what you are doing 100%
Thank you for you knowledge. Just became a subscriber!
Thank you Thach, very great advice. Big Fan from Montreal🇨🇦🇨🇦🇨🇦
You are 100% right , you can’t put a value on piece of mind and health. You can buy a lot of things or houses ; but you can’t buy peace of mind, time and health . There has to be a balance between the two and allow plenty of time to enjoy the fruits of your labour.
Thach. You’re the best. Love the education. I was wondering if you’re willing to do a video on General Contractors? What to ask them? What to watch out for? How to compare one from another? How would you recommend paying them? Average timeline for flipping you would expect? And anything else you can think of. The BRRR method is very understandable. But renovation part hangs me up. Thank you 🙏 love the content
Ok I will make that for you
You can only have one 3.5 percent down property at a time. So you can’t repeat that. 1 FHA loan per person. If you want to buy a second one with an FHA loan and move to it then you can as long as the previous one has been paid down 20 percent. Seeing how most of the first payment goes towards interest, it isn’t that quick. Other than that good video.
You can get an owner occupied conventional loan for as little as 5% down
He said 5% down for the next property. He did not say 3.5%
Wow, this is so easy to understand, absolutely love it!
Great video, I’m a new subscriber been learning a lot from your videos. I was thinking to relocate in Oregon How long do I have to stay until I can buy my own house?
Thanks man, watching from South Africa and glad to hear from someone that resonate with me, it's all about the Peace of mind and freedom. I just need to figure out the tax implications now, 6 down, 4 to go for me.
Great job Femi 👏🏽
@@thenigerianrealtor Only my mom calls me Femi. 😂😂
Thach, thank you. I’m a 25 year old new father making about 20k a month right now, looking to get into rental properties. You’ve helped me get a clearer mind in all of this. Especially in the “paying off” your property. Hope to meet you one day my man.
What are you doing to make $20k a month?
You’re soo amazing for putting these videos about real estate investing❤❤❤
always tuned in thach
Peace of mind, not worrying about outstanding debt that could land you in financial troubles is certainly underrated. I think the best risk mitigation strategy is understanding your "Sweet Spot", or when to buy and hold vs buy and sell later down the road. In some degree, you can treat properties like stock options. Diversification is key. Not sure if I would say real estate beats out the S&P but real estate is responsible for producing 90% of the US's millionaires so count me in.
Good job for spelling it right
In my opinion, house prices will continue down as people leave the state and prices correct due to market pressure. The problem with Florida is the property taxes increased based on the boom and the cost or inability to obtain homeowners insurance. Florida's in for a rough 5 years imo.
A lot of folks have been going on about the bull rally and said stocks that would be experiencing significant growth, any idea which stocks this may be? I just sold my home in the Boca Grande area and I’m looking to remunerate a lump sum into the stock market before stocks rebound, is this a good time to buy or no?
Such market uncertainties are the reason I don’t base my market judgements and decisions on rumors 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 a broker, before I started seeing any significant results in my portfolio, been using the same Adviser 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.
How do I reach out to one? my assets have been struggling since 2022 and I’ve been holding on by the skin of my teeth.
Her name is Rebecca Noblett Roberts. Hope that helps
Just copied and pasted her on my browser and her page popped up immediately, thank you for saving me hours of researching.
Thanks again very priceless information I hope find a mentor like you
Thanks for the video ✅️ starting now
This is why commercial property is better to invest in if you dont have a good credit score or a high income job. Because when it comes to apt buildings your income & credit score doesnt matter. They judge based on the property your buying & the income its capable of producing.
I love your videos. Can you please make a video on investing in real estate and using the brrr strategy with 8% or more interest rates
The realization that you can do this. The mentality you can’t stop till it’s done
I'm a Canadian, and I want to learn these things. I know Thatch is in the USA, and a lot of these tax perks in the USA. I want to see if i can apply this knowledge in Canada.
Thank you for this amazing strategy, this really helped me!
Finally someone who explain how to go back and pa y these property off to get rid of the debt.
You're the best thach
I love your positive attitude man.
Hey Thach, Very good points for making end of year payments, quarterly payments or even monthly payments toward the principal in order to payoff mortgages quickly. I also found your examples very helpful, especially for investors that are in their 50s. Thank you for sharing you knowledge.
Can i use a first time home buyer loan on a house im building?
Thank you Asian sir. I'm Asian I'm proud. You have answered my question
What kind of properties you recommend to invest for first time buyers ?
God bless you Thach, you're guiding w whole generation out of the rat race, your contribution to society is much bigger than you can imagine.
Having multiple streams of income is a game changer for financial stability. Relying solely on a job may not provide enough financial security due to high rates of tax It is important to explore additional investment opportunities to surpass one's expectation.
All thanks to Charlotte Junko Walsh and her Strategy, she changed my life.
The master has spoken. You all have to listen.
Good day thach nguyen, i have money for downpayment for a new house should i rent or loan a new house thanks God bless you.
Is it best to buy property where states have less tax??
Thach! Thank you for this awesome video... I was wondering.. which bank would be aggressive enough around the Seattle area that would actually help you scale this way like you mention in this video? Thank you!
fr is it even possible to get 10 mortgages under yourself at a given time, Ofcoursee not at once but I feel like after 2 or 3 it would be hard to get approved.
Does this strategy still work in a high interest rate environment? It looks like the days of free money are over
Question. 43 years old. House paid off. Just bought first rental property. Right after ran into 200k. Want to get to 10k passive monthly income. Bringing in 125k yearly. Should we use all the money in the beginning and buy properties with more down or space the money out and buy properties with smaller down payments??
You just changed my life
Thank you for this knowledge Thach.
thank you so much sir ,I'm really learning a lot about investing in property
😨SERIOUSLY THOUGH!
With high market values and relatively high interest rates, how would a first time real estate investment buyer compete with local rental prices that are most likely going to be much lower than what the mortgage alone would be on the investment property?
Con mới từ Việt Nam qua thì nên làm gì khi không có tiền chú ? Con đang tìm hiểu về credit card và con rất hứng thú về những gì chú đã chia sẻ? Không biết chú có thể làm mentor của con không ạ?
Great video buddy.
If i was to get a property and lease it as a rental, would i still get my rent from property management if i have no tenant? Just wondering because I have had very mixed responses with this.
Amazing information. Thanks a lot
What if you have no income but 500k cash. What's the plan? Can you use rental properties you buy as income for loan?
We rented our only home 8 years ago and we travel and live in free housing because of my wife job , now it is the time to buy the second property but i feel like all houses increased by $50k-$100k .... Most of the houses i am looking for the rent wont cover the mortgage, i don't know what to do !!!!
💪🏻Thank you , Thach!!!
I would like to own a second property, but credit is not so good. How ca I get around credit score?
Good advice, wish I would have had the maturity & this knowledge 25 years ago... 🤔
Thank you!
What about paying property tax and income tax? If you put down 20%? In my opinion, it’s really hard to make passive income.
EXTREMELY GOOD tips 👍👍👍👍👍 Thank you
Great video bro
Thank you for the content!!
This is great man! Especially repsyment on propertys plan. Just brilliant! At the moment buying houses, not repaying them yet, but this is excellent clip! Keep up good work . Thanks
Hey Thach! What type of flooring is that on the roof top?? 🔥
Right on point! Piece of mind is important!
Thank you thach for this advice !
For the selling off portion to pay off the others: what about capital gains? 1031 wouldn’t work here would it?
T, i cant do full brrrr in uk! I can only do brrr, refinance costs will kill! Any advice? Please?
Please do a video on how to find a mentor
You make it sound so easy. It is absolutely not easy. You must have money and lots of it not only in savings but coming in every month in your current job to even get started. But yeah, in a perfect world this is a great strategy. Very very few people will actually be able to execute this plan. The positive upside, though, is it is actually possible.
You think?
Useful video 👍
It’s crazy to see a lot of negative comments about how bad real state is right now!! Remember trash can be gold for other. I’m 20 years old bought my first house at 19 and yes everyone said it was the dumbest thing I could of done because of prices and interest and look I just close a duplex under my primary house with only 5% and put my other house to rent making 600$ of profit and the I’m charging 1.8k for one duplex and we’ll I been living on the other one for 5 months and my mortage is 2.6 so I’m paying 800 dollars for my front duplex but with my first house profit I’m living for 200 dollars with a duplex and once’s I have a years ima buy another one and ima be able to rent the current duplex where I’m living for 1.8k as well don’t sleep on because everything always going to make money as long as you do it right
Please make a video for Canadians and how we can use the BRRRR method in the Canadian market
Simple and proven. Like it sir
Not quite what the “BRRR” method actually is but I definitely like the “peace of mind” aspect that paying off property provides. It also maximizes your cash flow.
Amazing video
How to avoid putting 20% for a rental properties?
You re an inspiration thach
thank you for your advices
Amazing --and thank you! 🎉
You are amazing! Thank you!
Watching you is so humbling !! you hit the nail on the head peace of mind is it ..the goal from the start was financial freedom. not the race to see who can get the most houses etc .. love this channel !!
how much is having "good money"?