As a fellow Mexican American, your opening remarks hit home… it’s appalling how financially illiterate most first gen families are. Our parents barely had enough to scrape by and they don’t understand the concept of living below your means. I get judged for being “frugal” and “cheap” and not using my credit card lol Generational wealth starts with us💪🏼
@@EJleon96I bet you hear this one too "uno se va morir y no se puede llevar nada" as a way to justify spending every dollar that comes in. The concept of having money saved for an emergency is a foreign idea.
@@diegolara4202 yup sure have hahaha don’t even get me started on the bodas and quinces hahaha my girlfriend and I are planning to have a simple wedding with just a mass and maybe some coffee and bread next door and they want to murder us for even thinking of such a thing. They expect a huge party with over 300 people. Sorry but we’re not spending all our savings on a party that only lasts for a few hours🙅🏻♂️
@@EJleon96 quinceañeras are the biggest waste of money. They never want a simple one they want a ridiculously expensive one and expect the padrinos to pay for their $30k glorified birthday party.
My husband and I bought our first home and honestly it was not our first pick or dream home but it fit our budget, we got the seller to work with us in paying the closing costs, and fix any issues found by our inspector in the home. Two years of living here, we have transformed our home into our dream home. We love it here and only have ~7 years left on our mortgage (we pay double payments each month). I would advise any first time homebuyer to buy what’s in your budget and ensure the home has good bones. You can always transform the home into your dream home.
I just bought my first house last month. I'm in California where everything is crazy expensive and everything goes 50-100k over asking still. With that i feel like i over paid by about 10k but with that Said i feel like i did okay compared to others. Some overpaid by 50k or more. What i learned was no matter how nice the house and how many inspections you get expect to find small issues and random things that are needed like that door needs a screen door or it's missing a mailbox. Definitely spend hours at the house checking the floors, sinks, hot water and every light and window even if it is new. Step in the shower and make sure it's level and doors slide. These are things inspectors won't do. They are only there for like 30 minutes. I also should have talked to the neighbors before buying. I got lucky and am in a good neighborhood but you don't know if there are cat problems or loud people. I also didn't sleep much during the whole process and even after moving in i made myself sick the first 2 weeks just worrying if i made the wrong choice. I also felt like everyone was out to get me during the whole process. It's not a fun experience but now that I'm over the worrying and I'm finally enjoying it and happy i bought it.
@@GApeech08 and @tpolarbeart trust your guts! they are out there to get you..99% of realtors just want your money, even if they pretend to care. Javier is an exception, he is the real deal (part of the 1% who are honest and truly want the best for you)
@@blueaqua2122 the seller trying to lie to get the most money, the lender trying to convince me to spend more, the appraiser magically making the value exactly what we offer, the inspectors missing pretty obvious issues, the mortgage company not displaying all the PMI terms until day of signing.
@@blueaqua2122 the seller lying about things, the inspectors missing obvious issues, the appraiser magically making the value exactly what our offer was, the mortgage broker trying to convince me to spend more, the loan company hiding some terms until signing day, and our old landlord taking advantage of us too.
you're the best Javier!! thanks for helping me out the other day. So true about what you said in the beginning. I am a 1st generation immigrant here, so I am so grateful to you and your insights.
Purchased my home in March 2020 just before the market went crazy and the interest rates were low. My home increased 30-45% in value within a couple years.
You hit it at the begining bro !! Bought my first home in 2021, i feel like i gotba great deal, but looking back i could of gotten a way better deal with negotiation and what not. But like you said “DO your own research” it will pay off !! I should of done a lot more of that !! Best advise 🤟🏽🤟🏽
Thabk you for putting this information out Javier for us children of parents who gave us what they could but fpcused on survival. I wish I'd found your content before buying our first home but given the tips you have here we did okay 👍🏽
I haven't even watched this yet and I'm surprised I'm doing exactly what you're saying despite being a 1st time buyer. Doing my due diligence in research has really helped! Thank you for the confirmation that I'm on the right track. Maybe it's because we've the same experience with out parents only barely surviving.
You're spot on about the emotional aspect of buying a home. Just imagine how much easier it would be for agents to share these insights through engaging videos created with something like ReelSane!
Hey just FYI if you are saving for retirement and have medical insurance and make a good wage, 80k plus. You are not taking home 75% of your gross. Closer to 65%. Keep in mind that as you climb up further, lets say a promotion but you are going to be moving to a more expensive place, the extra income might not be as much as you thought.
Thankfully we bought at a great price at a great rate, we were approved for a higher amount but did we come anywhere close?? NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO! Went 40k UNDER. All the people that DIDNT get appraisals, DIDNT get inspections etc etc AND paid THOUSANDS over asking smdh. Quite a few people are about to lose their homes already and expected to get worse in 25.
Finding a realtor that is willing to write offers below list price is challenging. Some buyer agents get offended when you want to offer below list price even when the home is sitting for 60+ days. Maybe they don't want to offend the listing agent?
Yeah they want to keep “good rep” with the other agents, since you probably wont do business with them for a while … plus the higher the price the bigger the fee for them. The incentives are all messed up. To me it would make more sense if buy agents were small part investors in your home and they make money if your house increases in value then.
Really wish I would’ve found your videos before buying my house. Being young and in the military, I wanted to make as many investments as possible and I definitely rushed. Hoping when I move to my next duty station I’m able to rent out the home.
I work from home and have the option to live anywhere. How do I find a realtor that’s licensed in multiple states? I live in Maryland so I’m looking at surrounding states and down to Georgia
I bought much less house than i can afford I net around 14k a month My total housing expenses including mortgage/internet/gas/electric/insurance/yard/house keeper Are less than 3500 a month
Hey Javier what do you think about a recast on my loan I have a 15 year loan I got 10 1/2 years left I owe 193k on 2.8 interest rate 1 more year left before I retire my mortgage company they do offer this option
We bough what we could afford. It was a fixer-upper that we STILL live in and it still needs more things done. We've lived in it for a LONG time. I am not willing to pay more than a house is worth, nor am I willing to pay ridiculous interest rates, so fixer-upper it will remain.
I had my house appraised twice by accident. The first guy didn’t know what I bought the house for and said it was worth asking price. The second guy did know what I asked for ($10,000 lower) and apprised it on our contract price…
The mistake most people make including myself instead of the 28% of you’re income you tell yourself well we can afford a little bit more since we aren’t using the entire amount we were approved for… smh
Just say “daughter “ to an Hispanic father, and know that ALL sense of reasoning goes out the window ❤….I know because I have raised a father for 40 years….yes my husband.
Got a good deal under contract but now seller refusing to address or pay for major items that came up during option period. Have to stay strong and know when to walk away.
Hey Javier , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?
As a fellow Mexican American, your opening remarks hit home… it’s appalling how financially illiterate most first gen families are. Our parents barely had enough to scrape by and they don’t understand the concept of living below your means. I get judged for being “frugal” and “cheap” and not using my credit card lol Generational wealth starts with us💪🏼
Facts. First generation Mexican Americans have to figure it out but it’s important we start building that financial wealth!
@@pokemoncollectibles2192 meant to say I get judged for being “codo” y “agarrado/ tacaño”🤣
@@EJleon96I bet you hear this one too "uno se va morir y no se puede llevar nada" as a way to justify spending every dollar that comes in. The concept of having money saved for an emergency is a foreign idea.
@@diegolara4202 yup sure have hahaha don’t even get me started on the bodas and quinces hahaha my girlfriend and I are planning to have a simple wedding with just a mass and maybe some coffee and bread next door and they want to murder us for even thinking of such a thing. They expect a huge party with over 300 people. Sorry but we’re not spending all our savings on a party that only lasts for a few hours🙅🏻♂️
@@EJleon96 quinceañeras are the biggest waste of money. They never want a simple one they want a ridiculously expensive one and expect the padrinos to pay for their $30k glorified birthday party.
My husband and I bought our first home and honestly it was not our first pick or dream home but it fit our budget, we got the seller to work with us in paying the closing costs, and fix any issues found by our inspector in the home.
Two years of living here, we have transformed our home into our dream home. We love it here and only have ~7 years left on our mortgage (we pay double payments each month).
I would advise any first time homebuyer to buy what’s in your budget and ensure the home has good bones. You can always transform the home into your dream home.
I just bought my first house last month. I'm in California where everything is crazy expensive and everything goes 50-100k over asking still. With that i feel like i over paid by about 10k but with that Said i feel like i did okay compared to others. Some overpaid by 50k or more. What i learned was no matter how nice the house and how many inspections you get expect to find small issues and random things that are needed like that door needs a screen door or it's missing a mailbox. Definitely spend hours at the house checking the floors, sinks, hot water and every light and window even if it is new. Step in the shower and make sure it's level and doors slide. These are things inspectors won't do. They are only there for like 30 minutes. I also should have talked to the neighbors before buying. I got lucky and am in a good neighborhood but you don't know if there are cat problems or loud people. I also didn't sleep much during the whole process and even after moving in i made myself sick the first 2 weeks just worrying if i made the wrong choice. I also felt like everyone was out to get me during the whole process. It's not a fun experience but now that I'm over the worrying and I'm finally enjoying it and happy i bought it.
I felt like everyone was out to get me, too.
@@GApeech08 and @tpolarbeart trust your guts! they are out there to get you..99% of realtors just want your money, even if they pretend to care. Javier is an exception, he is the real deal (part of the 1% who are honest and truly want the best for you)
When you say you feel everyone was out to get you, do you mean the neighbors or the team you used to buy the house (realtor, lender, inspector, etc?)
@@blueaqua2122 the seller trying to lie to get the most money, the lender trying to convince me to spend more, the appraiser magically making the value exactly what we offer, the inspectors missing pretty obvious issues, the mortgage company not displaying all the PMI terms until day of signing.
@@blueaqua2122 the seller lying about things, the inspectors missing obvious issues, the appraiser magically making the value exactly what our offer was, the mortgage broker trying to convince me to spend more, the loan company hiding some terms until signing day, and our old landlord taking advantage of us too.
you're the best Javier!! thanks for helping me out the other day. So true about what you said in the beginning. I am a 1st generation immigrant here, so I am so grateful to you and your insights.
Purchased my home in March 2020 just before the market went crazy and the interest rates were low. My home increased 30-45% in value within a couple years.
You hit it at the begining bro !! Bought my first home in 2021, i feel like i gotba great deal, but looking back i could of gotten a way better deal with negotiation and what not.
But like you said “DO your own research” it will pay off !! I should of done a lot more of that !! Best advise 🤟🏽🤟🏽
You have such a kind energy. Thanks for these. I’m looking in Maryland and this market is rough.
You got this!
Love this Javi! you're the realest! also, you don't need a filter! not sure what Kristina was thinking ;)
😂😂
Love these videos! They’re so useful and explained perfectly! Appreciate you!
I agree just bought a home last year. I would like to say that I have helped many homeowners in situations where their home has weird or bad energy.
So glad I found your channel. I'll be buying your toolset and wish you worked in TX.
Thabk you for putting this information out Javier for us children of parents who gave us what they could but fpcused on survival. I wish I'd found your content before buying our first home but given the tips you have here we did okay 👍🏽
I haven't even watched this yet and I'm surprised I'm doing exactly what you're saying despite being a 1st time buyer. Doing my due diligence in research has really helped! Thank you for the confirmation that I'm on the right track. Maybe it's because we've the same experience with out parents only barely surviving.
You're spot on about the emotional aspect of buying a home. Just imagine how much easier it would be for agents to share these insights through engaging videos created with something like ReelSane!
Hey just FYI if you are saving for retirement and have medical insurance and make a good wage, 80k plus. You are not taking home 75% of your gross. Closer to 65%.
Keep in mind that as you climb up further, lets say a promotion but you are going to be moving to a more expensive place, the extra income might not be as much as you thought.
Very valuable info in this video. Appreciate you!
Glad it was helpful!
Thankfully we bought at a great price at a great rate, we were approved for a higher amount but did we come anywhere close?? NOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO! Went 40k UNDER. All the people that DIDNT get appraisals, DIDNT get inspections etc etc AND paid THOUSANDS over asking smdh. Quite a few people are about to lose their homes already and expected to get worse in 25.
Super informative my limit is low & not buying until in best form not going to be house poor for bricks
I’m wrapping up my first home purchase in a week!
Mine is in June, super excited and so far I've been doing everything correctly!
Congrats
@@lamarmc thanks!
Sweet! I’m very happy for you!
What do you think of applying an escalation clause to get a better chance of winning the bid?
Horrible idea, if you can't buy it then don't
If you are a renter, does the rent get calculated as monthly debt, or do they only look at things like credit cards and car loans?
Yes. Real estate agents are your marketing tool and there are some very savvy ones out there.
Finding a realtor that is willing to write offers below list price is challenging. Some buyer agents get offended when you want to offer below list price even when the home is sitting for 60+ days. Maybe they don't want to offend the listing agent?
Yeah they want to keep “good rep” with the other agents, since you probably wont do business with them for a while … plus the higher the price the bigger the fee for them. The incentives are all messed up.
To me it would make more sense if buy agents were small part investors in your home and they make money if your house increases in value then.
@@Ultrajamz Interesting:)
Really? I’m a relatively new realtor and I urge my clients to offer below listing price..sometimes low balls…welp..🤷🏽♀️
Really wish I would’ve found your videos before buying my house. Being young and in the military, I wanted to make as many investments as possible and I definitely rushed. Hoping when I move to my next duty station I’m able to rent out the home.
I work from home and have the option to live anywhere. How do I find a realtor that’s licensed in multiple states? I live in Maryland so I’m looking at surrounding states and down to Georgia
The “busy surviving” hits home.
Thanks for the another useful video!
I bought much less house than i can afford
I net around 14k a month
My total housing expenses including mortgage/internet/gas/electric/insurance/yard/house keeper
Are less than 3500 a month
Javier
VA, Disabled American Veteran
71 years old to buy a home in carmel, ca. (Monterey County)
Have bid on homes but sellers declined offers.
Help
@javier. Is it a good time to buy a rental property?
Hey Javier what do you think about a recast on my loan I have a 15 year loan I got 10 1/2 years left I owe 193k on 2.8 interest rate 1 more year left before I retire my mortgage company they do offer this option
All homes I saw have sold at or above market value in Chicago. It’s bad here
great videos man thank u
We bough what we could afford. It was a fixer-upper that we STILL live in and it still needs more things done. We've lived in it for a LONG time.
I am not willing to pay more than a house is worth, nor am I willing to pay ridiculous interest rates, so fixer-upper it will remain.
I had my house appraised twice by accident. The first guy didn’t know what I bought the house for and said it was worth asking price. The second guy did know what I asked for ($10,000 lower) and apprised it on our contract price…
The mistake most people make including myself instead of the 28% of you’re income you tell yourself well we can afford a little bit more since we aren’t using the entire amount we were approved for… smh
Just in time
Issue is in this market almost every house has a bunch of bids ( i live in the ny/nj area) unless its a crackhouse with no roof 😂
How much am I going to lose in the next 5 years? EXCELLENT!
buying well under market value....good luck XD by the time you step in a house its 2 days til sale
That’s my exact house on the top half of thumbnail
Just say “daughter “ to an Hispanic father, and know that ALL sense of reasoning goes out the window ❤….I know because I have raised a father for 40 years….yes my husband.
If I net 8K month with no debt, we can live a good life on 4K month mortgage and 4K to live off of.
Wait your daughter’s name is Evie? My baby just turned 1 and she’s Evie as well!
Got a good deal under contract but now seller refusing to address or pay for major items that came up during option period.
Have to stay strong and know when to walk away.
Trying to get away from the "what do we need to do to get his house" mentality in this market
💀 the Pepe part is so real. Sick of that crap and being compared. Closing on the 28th though!
Tío Pepe needs to chill
❤❤❤
Def trying to brake a generation curse
Day 10 of me asking for facial hair Javier to come back.
Hey Javier , very good video . I can do better editing in your videos which can help you to get more engagement in your videos . Pls lmk what do you think ?
I was about to say that it's terrible that you let your little girl play you, but she buys pokemon cards? Ok that's fine then 😂
I THOUGHT MARKET WAS CRASHING GOOFY
Mistake #1 Buying a home in 2024
Not being born with financially stable or rich parents. I should have done my research 😔
thank you sir Javier
Great video! The only problem is the lower end, lower priced mortgages don’t exist. 🥲