HOW TO GET RICH WITH REAL ESTATE
The Best Way To Make Money In Real Estate – Full Video Here:
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my tenant moved…here’s how they left it
Mano Kamgang
Here’s the full video guide: https://youtu.be/bJx7_1rWC6U
Where is the full video of this clip
I really hope youre not advocating this strategy, because its guaranteed to crash the economy and leave its adherents destroyed.
Not really so simple 😅😂
Make your money on your taxes. Thats your boost in life. If you pay alot of tax and get nothing back. Invest your money to things that can claim alot of it back. Start a side hussle inject 20k into it so all things are taxable. You do lose money yes. But half of it in reality. Because your getting back what you spent but paid it as tax 🙂 you get items you need or want. But pay less with tax refund and grow not blow.
Purchase as a business get deliverys at your residence run a business office in it whatever you want. Part taxable as its a % for work
This was my biggest mistake. I should have bought a house in 1996 instead of being a baby 💀
instead of being a baby 💀
Baby 🍼
Just an excuse, acting like you didn’t have those opportunities in 2019-2020 when it was perfect to buy
@@goodnightjbe grateful wages have at least chased prices there. Prices are running away from wages so fast here it’s ungodly.
@@goodnightj yup and populations have grown a lot since then. That is basic economics 101. Truth is, you had opportunities to do it. You can either take them or whine about now being born in the 60s
Let me tell you as a 2008 enjoyer, this is an infinite money glitch until it’s not.
Don’t tell them it will be funny when they lose everything.
I HECKING love living in a housing crisis
yeah please dont tell them this. Let them foreclose their houses so there are more inventories for us to buy.
It’s not a glitch, it’s ideal scenario he just described. That’s where most get it wrong with the BRRRR method.
Rents never went down in the Great Recession
2008 happened because banks gave out subprime mortgages to people that couldn’t afford it…. The only way you can really get screwed doing this on a 30year fixed rate mortgage is if rent prices somehow drop below mortgage payments but I don’t see that happening with housing demands. Even if house prices drop and you can’t refinance or get cash flow the rent should be covering your mortgage atleast & increasing your equity
How to inflate the prices of housing 101 :
Not just that, but also take homes affordable to the lower class and make them middle class homes instead!
I really despise real estate investors and house flippers. Genuinely some of the most short-sighted and selfish people on the planet. They always use the same BS excuse like, “Well people will pay for it!” Yeah. People will pay to molest children too. Doesn’t give you moral ambiguity.
Otherwise known as how to be a scumbag.
Glad I’m not the only one that sees this!
Banks don’t actually just give you money based on your word of what you think your house is worth. This guy is full of crap.
@@bbbbbbb51 Then tell the people buying those houses to stop(They won’t)
I did this and after a couple years of hard work and dedication, I am now homeless.
If you make bad deals you could be homeless if you make good deals you could live off it if you make great deals you could retire early
💀💀💀💀💀
Ya right 😂
😂😂😂😂
You’re homeless? Just buy a house lol…
I love the casual beginning… “You buy a property”
Hahah!
You fix it up!
if you get permission from your lender you can rent a mortgaged house, but yeah its still expensive
That bum on the street over there like “why didnt I think of that?”
What no one understands is that to make it work, you have to spend time looking for the right property. Then it must be in need of a fair bit of hard work from you, doing on it. A property in perfect condition is going to cost too much because you’re paying for the work done by someone else. There are properties in need of renovating that are not selling, make an offer on it, only like everything in life if you do it yourself it takes a bit of effort . We’ve done it so anyone can, and we’re not builders. Also it takes patience, and it’s more of a long term project, that’s why you rent it out and not sell it immediately. Rinse and repeat.
@yvonnefitzgibbon4517 don’t try to actually logic it out. There are a significant number of people who have already decided “buying any property you don’t need just to rent it” means you’re one of the evil oligarchs. Explaining the time, money, and effort that you put in to get there makes no difference because landlords = bad.
How to destroy a nation with endless debt 101.
You post that like there is no distinction between good and bad debt. Good debt is rather easy to define. It’s a debt you take on to purchase an asset that can appreciate in value and/or produce an income, which can be used to pay down that debt. IE a property, be it house, apartment, store, factory, art or even shares, commodities, ect.
A bad debt it easier to define. It’s a debt for something that is costing you money and/or loosing value, like a new car, new fancy mobile phone, ect.
@@MrToranaGuy The lines are not that simple. Good debt can very easily turn to bad debt. You’ve read too much robert kiyosaki without realising what a crook he is. Look at the US in 2008. People farming up as much property as they could. Everyone was under the impression that was GOOD DEBT until it suddenly wasn’t. The property market can never collapse right?
@@Charlie43348 good debt can turn bad, and I didn’t say that it can’t. You could find your tennant stops paying the rent for whatever reason, or they move and you have a hard time finding a new tenants. Until you secure new tenants, that debt is a bad debt, but that doesn’t last forever.
Property can fall in value in the short term, but that wasn’t really the problem. 2008 was a bad time to be a property investor if you had no liquid cash to keep you floating.
You never, ever, go all in on any one investment. You always need to keep some cash liquid, to weather the tough times.
That starts with usury and loan interest
@@Charlie43348yeah that collapsed in 2008 wasn’t from House flippers. That collapse came from Banks making bad loans and investments and then creating an excuse. They cause the bubble they burst it and then got bailed out
“How to get rich” always starts with having loads of money in the first place 😆
you can become rich without having money , how ? you gota give a word on pulling off a deal and stand to your word & execute it.
@@flying_panda1561 yeah I get you can become rich without starting with loads but these videos you see on YouTube allways seem to have a load in the first place to make more that’s all
Look up what an FHA loan is.
because of your view on things you have, you’ll achieve nothing
They usually borrow a huge loan
Can confirm this works. Parents now are technically millionaires (property value), with about 30ish rentals.
-millionaires +leeches
-rentals +cash-cows
@@nejaahalcyon Not leeches as we charge around 20-25% lower rates, and I’m having to pay for my own college soo…
rent
It works for me as well. Most people don’t have the financial skills to be successful in real estate.
@@SonicCraftThe other landleachs aren’t gonna like that. Parents might get extorted by their country club buddies.
It’s amazing how these experts advice is to stand on a tightrope and hope you don’t fall
That’s called life. Ain’t easy but with big risk comes big reward. Usually you do make it if you’re dedicated enough. I work 80 or so hours a week and I’m getting there. I make just over fast food worker pay as well.
@@austinnipper6460 I hope you’re “getting there” by learning new skills to go into a better career, because otherwise…..
Yeah thats the only way to succeed in the world humanity has built, at least its the only way to succeed without shitloads of talent. Makes you want to burn the whole thing down, doesnt it?
@@austinnipper6460 get a skill, not all ways to make money are wrapped up in layers of debt
And hope that you don’t find a problem with the house that a building inspector missed.
This is exactly what is effing up our country. When houses started to become “investments” everything went to hell. Now even “real estate” funds are buying up housing for “investment”.
honesty left the chat.
greed and downfall entered.
how do you come up with greed? a legitimate way to make money is good. it is all about economics, supply and demand. you play the game.
@@stephenc2481 yeah which is inherently greedy
What’s not honest about it, this strategy is very popular
@@stephenc2481 greed is the game. it depends. most often it can be just plain greed with no value added – no work done – just for the sake of $$$
poor risk management has entered the chat, well that and a greedy banker….
“If you’re homeless, just buy a house.”
you might not believe but this exact advice was given by polish president bronislaw komorowski back in 2015 to a kid who asked how is he supposed to buy a house with such low salary /watch?v=hHk_Si27BJo
get better job, take a loan was his answer 😀
– Haris Pilton
to be fair being homeless is a great way to save to buy a house, you do need some form of shelter like a car. It brings you monthly expenses to almost 0, use planet fitness to shower.
That’s the thing. For example in my country Uganda Kampala 🇺🇬. There lots of business opportunities. Like In real estate, but u don’t just buy a property.
😂
“How to ensure that the next generation would be homeless 101”
Why, are they banning home building?
@@tudvalstonebecause god forbid rent or housing price come down how could these parasites make money?
Climate change
@@tudvalstoneno one can afford to build except the ultra wealthy so they profit at our expense amd why would they build more if that increases the supply and harms how kuch they csn leech off you for rent? I saw rich people build a house thats half what ours is and it just sold for twice what we bought ours for and ut was the muddle class family that pays the cost the rich wealthy builders already got their money getting that sucker to overpay 2x for half the house. So even when they build its aboutnfimancially robbing yoy as much as humanly possible. And thats why my famky decided not to move. Their mortage is like 25% what everyobe elses is and the house is twice the others whuch cost more. Clown world
@@tudvalstone you cant build without a permit, and youd need to own the land. so effectively, most people are not permitted to build a home.
“And thats how i made INFINITE debt”
I mean yes , you should prob see and ask millionaires they are never trying to get out of debt like normal people they just look for more debts which eventually becomes passive income and the u chilling
@@sdestructor185 Exactly. Only poor people try to get out of debt.
Uh yeah, if you understood money you would know that leveraging debt is much more advantageous than spending all of that capital out of pocket
“and that’s how I work for the bank as a property manager”
Right boys, get two mortgages bc one isn’t expensive enough 😂
I just cash my houses all off 👍I’m 24 iv bought many
Theyre goping their renters are willing to pay their mortgate they took at minimum downpayment for the highest payment possible
They are not paying the mortgage. The renters are. You pay say 1k a month in mortgage and rent for 1500. They are paying you 500 more the only thing is if the AC breaks or something, that is on us not them. But yes you’re paying the mortgage not me.
Its a cliche but the main message i got from this is, If you stand for nothing, you’ll fall for anything! Great conversation!
How to repeat the mistakes of 2007 all over again: leverage everything you own
You can also just rent out the property until you pay down the mortgage, using the rent money, by 80k say and then refinance the property for the same amount as your original mortgage then use the extra 80k as a down payment for a new property.
My parents literally started doing this. They own homes now. My dad didnt even realize this made him a millionaire in assests because he never sat down and did the math on all the assests he owned.
How long has he been doing this?
Yes, but is only an asset when u sell it ^^
That’s awesome. Your dad was just doing his thing and enjoying life and didn’t even realize he became a millionaire… Kudos to him, that is some advice for us all to listen to. It is easy to focus on money too much.
@@anthonyyoung8312wtf