Mike - GREAT video. You said a lot in 3:38 min. I plan to play your video at my class on Housing at the nearby homeless shelter, where I teach financial literacy. My passions are personal finance and real estate investing. Thank you!
Have you considered a separate channel for financial advice? It's a bit of a reach for me to understand what rent vs mortgage has to do with dating. I understand and appreciate that you're doing your best to be helpful. Your perspective regarding younger men dating older women was helpful. It likely spared me a lot of heartache and self doubt.
@@RR66125 Yes, that makes sense. I polled this audience if they were ok with me making some finance videos and a lot of people said yes so I just posted finance videos here. I guess I could run another poll soon and see if folks are still ok with it. 💜💜
At 66, I have owned several homes in various cities, but I always have more disposable income to invest, save or play with when I rent so these last years I exclusively rent!
kind of. i am a pro reconstructor and builder. and i may tell you that price of those propertys youre renting to build is less than 1/10 of its marketing price 😂
@@EZDatingCoach thats the idea - anyway you pay them multyple cost of what it actually cost. so you have only choice of how theyll take all youre money 🤭
What is not advertised or discussed, if the goal is dollars today, yes. To influence elections at the city and county levels, your vote only counts if you are a property owner in some precincts. Why do you think business owners want to know if you own or rent? They need to know how much weight your thinking and choices will make on their income. Are you likely to be a regular customer? If you dream is to let the landlords control you choices of local leadership? Are you complacent? Have you already given up on influencing leadership? Or, do you want to have your voice and opinions mean something? Own some property and be responsible. Sorry EZ, they are trying to change the dream so they have more control and predictability in their lives and businesses. Not yours. Think about dating back when there were arranged marriages, it might be as far off as it once was.
Oops...might NOT be as far off as it once was. Also, you don't elect who the property managers are and their maintenance and office people. They can often pick and choose whose repairs have priority and whether or not the job is completed. Plus they have access to your personal items at any time they choose. The utopia is only as good as the integrity of the people and we see how that's going. The contracts are only as good as the interpretations and the enforcement. To speak up is to lose your home and items, if you can call a rental a home. They have computerized so much that even the contracts are unstable and open to "may be changed at anytime." You better start looking at the videos on how to be likeable and how to properly please the powerful. Writing comments in youtube is one way or not.
Well, I am a landlord who is dealing with increasing expenses (roofs have more than doubled in prices and so has insurance for example + I still have to pay a mortgage!) to have a decent home for my tenants. I have been doing this for 10 years and I drive a 2004 Corolla with 230,000 miles. The Ferrari thing might not be so accurate, at least in my case.
@@kathycastrigno Sure. That's how most Landlords start off. If it was easy going then everyone would do it. That's why I said pay off mortgage first, future Ferrari second
@@robocop581 I appreciate that. Since it is agreeably challenging in many ways that can sometimes cause me to lose sleep, should I not get any benefit over the long term of taking the risks associated with being a landlord? A Ferrari, nah. I just want to build a bit of a nest egg and offer housing. My tenants appreciate dealing directly with me as property management companies often treat both tenants and landlords badly. We are not all greedy bad people. As a matter of fact many of us are taking relatively large risks and do lose sleep over the stresses that come with being a landlord. It is certainly not (in my case) a fat cat landlord greedily taking from tenants. As a matter of fact as costs of housing skyrocket, we are getting compensated less and less - squeezed tighter every few months that go by.
@@kathycastrigno I like to remind people that Greed goes both ways. Tenants want to pay as little as possible with no regard for the Landlord's startup and ongoing costs while Landlords want to eke as much profit as possible to compensate for the financial risks they have taken on
This is the worst advice in the history of advice! I have been paid $50,000 a year for owning my home through equity. In fact, I was made a millionaire by age 40 by owning just one home and it was my own. Not renting it for profit, not being an investor, but just simply living in it which you'd have to live somewhere. Even if I took your fifteen hundred dollars a month and added ten percent to it a year, that would be an approximate savings of twenty thousand a year. If you multiply that 20K for the time I've owned, which is 14 years, you'd have $280,000. In fourteen years of home ownership, my home has tripled and made me $700,000. Not to mention up to $250,000 as an individual and up to $500,000 of that is tax free for a couple. How could you ever save the difference of $420,000? Not to mention, if you had somebody renting your basement or paying the mortgage as an investment you still would have made the same money with having only a portion of the responsibility of the payment. Also, with the stock market or mutual funds there's some mass event every five to seven years where you risk losing up to half of your money, ie: Sept 11th, mortgage crisis of 2008, Covid, while during that time if you're using it as an investment, you'd still be gaining rent and equity, and you can control your loss or gaines through the timing you choose to sell. Not to mention if I took your advice and my home wasn't paid for I now would be spending rent for the next thirty years until my death, which rent has tripled since my ownership. If you took the average cost of rent for a starter home of two thousand dollars in my area, I would be spending an additional $720,000 over the next 30 years which could have been put into another investment property, also yielding intense equity gain and/or rent that someone else would pay for which would also have exponential increases in equity over time. If you take a four thousand dollar house in nineteen forty and double the price every ten years, you get to where we are about in pricing right now. Homes double nearly every ten years historically. So now with your advice, you've lost all equity and ability to gain exponentially in more than one property. You should always have your money working for you and the best way to do that is to have somebody else pay for the property you own but if you can only choose between purchasing a home and investing in the stock market for the love of God choose a home. Not to mention when you turn sixty two and have fifty percent of equity, if you ever got cancer and were sick, you can stay in your home through a reverse mortgage that pays you living expenses. In your example you would be able to save an additional six hundred thousand dollars over the next thirty years. But imagine if you pay your house off like I did at forty, and then you're able to invest in more real estate or more stocks once you've got no nortgage and have had time to learn a little something you'll be a multimillionaire with no housing expense Instead of worrying about paying rent, which won't be a cost in your contol over time like having your home paid off will be controlled. Worst advice in history, looking back at historical gains homes have increased ten thousand percent over the last 84 years. Yes, I said 10,000%.
