I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?
"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task
Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!
True, the idea of a portfolio-coach used to sound generic, but a new study by investopedia actually found that demand for portfolio-coaches sky-rocketed by over 41.8% since the pandemic and based on firsthand encounters, I can say for certain their skillsets are topnotch, I've raised over $900k from an initially stagnant reserve of $250K all within 14months.
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
It has never been easier to understand how to build your money than it is right now, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investtments, in my opinion, are complex.
Working with a Financial Advisor to help guide you on your wealth-building journey if you're just starting out is a wonderful way to get started and thats how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal
The Graham and George combo is awesome. We need more people sharing like this in the finance space. Lot’s of similarities, minor differences, great spirits!
Good renters are valuable. My dad's friend had 2 properties in San Jose, one property he has been renting to the same family for $1200 a month for decades. They are great people who he now considers friends and they take great care of the place. He could probably get over 3x more rent but he doesn't care. They are awesome and the perfect renters. In contrast, His kid, my old friend from high-school stayed in the other place and trashed it. He had to completely gut the house and renovate it after kicking him out... Then he sold that place and made over a million in profit.
I would not pay cash for one rental property if I had $400K to invest. I would buy four with a mortgage. You do not want to have all your eggs in one basket. For a lot of reasons. I have 6 Rentals 3 are paid off and 3 have small mortgages. I also flip houses occasionally. So, this is my opinion from my personal experience. I've been successfully investing in real estate for ten years. I also have a full-time job.
Ramsey says only to buy in cash in order to have no risk. It won’t make you rich, but he isn’t trying to make people rich. Just make sure they don’t die on the street when they retire.
I foresaw the housing crisis and sold my property. I then put it in the market, about $200,000 of it. That was late February. I've lost more than 40% of my portfolio's value. It makes me really sad. How can I turn this situation around?
This is really sad. If you're not who understands strategies to invest in the market, why not seek a financial advisor to help you grow your portfolio?
Having an investment advisor is the best way to go about the stock market right now. I’ve been in touch with a coach for a while now mostly and I gained within a short time.
George you’re awesome. I love the little edit cut aways, every video I laugh out loud which makes it entertaining on top of the great life/financial advice. You’re doing great work keep it up
Graham, buddy, spring for some sunglasses:) #1 cause of cataract's later in life is not wearing sunglasses. This was a good segment and I agree, the time doesn't feel right to invest in real estate. Thank you for the info, and George, these Millionaires in Cars segments are fun!
It was actually really eye opening the math on rental properties. I would agree with wanting at least a 10% ROI because you need to be beating what you'd make on cash significantly to account for maintenance costs or potential vacancies. It doesn't seem like the math makes sense at all to get a rental property in the current environment.
I briefly looked at some real estate during the late summer -- not worth it with interest rates -- and I'd have to sell my place -- also risky. Keeping my home and working on paying it off in 3 years max. Got a plan!!
I really like Millionaires in Cars Getting Coffee! Short, sweet & to the financial point. Would like to see you drive with the RU-vidr from Minority Mindset & Patrick Bet-David.
As a landlord myself, I was surprised to hear that Graham supplies a washer/dryer ... My properties have the hookup, and if a tenant wants to get their own they can but they are also responsible for any damages they may cause to the property. Also, if a previous tenant leaves behind their washer/dryer and a new tenant moves in, the new tenant is specifically told and initials in the lease that they can be used but if they break we don't replace or repair them. We will only remove the broken appliance.
In my area, units with washer dryers rent SIGNIFICANTLY higher than units without. The cost of the machines plus maintenance is made back many times over with the higher monthly rent.
Totally not hating, but I’d love some context on George’s salary. I became BS7 about the same time George said he was breaking through financially and now he’s riding around in a Tesla (Cash) and buying investment properties 400k (Cash). I feel like a nerd because my BS7 with a great income doesn’t look like that lol. I hope it’s because Dave is paying 7 figures, but the old man doesn’t strike me as that type!! Thanks for all the great “free” content.
Warren Buffet and Charlie Munger said it was very difficult to identify inefficiencies in the real estate market because of that they bought stocks and companies. That makes sense except when a real estate bubble bursts, that is an inefficacy.
Personally to answer George’s question (determining market rent on a cash purchase) I run the numbers as if I was buying on credit then add in a % for maintenance, upkeep , and repairs (cap ex). I’d also maybe consider paying myself the management fee. Add all of these up determine my number then hit up all of the local places where rentals are advertised Facebook, Craig’s list, etc and determine if I’m in the ballpark. That’s how I’d analyze it. If you are in a comfortable zone then I’d buy.
Graham telling us there are NO deals to be found right now in his market as well as only having 5 rental properties in his current portfolio… that should tell you everything you need to know about the current housing market and what he thinks about it. He’s sold off pretty much everything, he’s sitting on cash and we have unaffordable homes.
I know these are a reach, but: Ashton Kutcher, Warren Buffet, Mark Cuban, Ryan Reynolds for investing. An easier choice might be David Platt. He challenged how his church in Birmingham allocated money to each ministry when he was a pastor there. He also really changed how the International Mission Board spent money when he was the president. Maybe Francis Chan too since he was a leader of a mega church and decided to leave that life behind to live abroad. He also is known to be a huge giver.
I'm afraid I have to disagree with Graham about it being a bad time to buy for rent. He's using the debt side of the argument, while George uses his cash flow side. The only reason it's cheaper to rent than to buy right now is because of the mortgage rates. With no mortgage rate, a buyer can afford to list his rent at a cheaper rate than the market rate compared to the buyer using debt. Since Graham's argument is controlled by debt, it should weigh less into George's planning. Plus, interest rates have softened the market to lean more towards a buyer than a seller. But that's only true when paying in cash.
Property management is not an ideal investment right now because it's market dependent and has too many other variables. There are some bad tenants, home repairs, and HOA & tax increases. Even if I had the cash to do so, I would probably lean towards keeping most of my money in an HYSA and some in mutual funds.
The point is, you didn't buy a $15 meal when you were poor, so why would you buy it when you're not poor? Otherwise that's just lifestyle creep - and that's how you stay poor.
10:27 The thousand-yard stare combined while saying, "I didn't know how this Thursday was going to go." makes me think that Dave Ramsey has meetings with his 'Personalities' on Thursdays.
Rewatching, and 0:33 also has a sinister sting. I know it's for comedic effect, but this may be the darkest episode of Millionaires In Cars Getting Coffee, ever. Still, I'm a big fan. I hope to get my net worth over the million line so I'll have a chance to be a guest one day.
You should have a subscriber on who has been following your advice and got out of debt or started investing for the first time! I think it’d be fun to see “one of us.” But then it might not be “millionaires” I guess 🤣
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in US. The government has really called things more difficult for its citizens, and we can't sit back and bear all the consequences of the bad governance. We need to take our financial life serious... I recommend stock market investment and digital currencies
If you want to be successful, you must take responsibility for your emotions, not blame others. In addition to making you feel more guilty about your faults, pointing the finger at others will only serve to increase your sense of personal responsibility. There is always a risk in every investment, but people still invest and succeed. You must look outside if you want to be successful in life..
The first step to successful investing is determining your goals and risk tolerance, either on your own or with the help of a financial professional, but it is highly recommended that you use a professional.
There is nothing better than hiring an expert in any trade, selfishness and greed have deterred many from doing this and they ended up suffering a huge loss.
As a newbie you'll need to invest in a company that is working towards sustainability, like that of expert helen jackson and her abilities in handling investments are top Classic >
Hahahahaah I don’t even know how it took Graham that long to do that math. If you’re in real estate you should know your numbers by heart. You can tell things just fell into his lap and he’s comfortable not working for good returns anymore.
%10 on your 400k is nothing if you it’s cash, you can easily make that in t bills at 5% but if your get a loan and buy something for the same price, you only pay 30% that will make you the same amount and keep thr 70 to make tge 5% , inflation is going to eat that 70 in your favor but your cash against you, you can’t survive with cash in this economy
