1.2 Billion Dollar Real Estate Investor: "Buying your house is the dumbest investment you can make"

[Field Marshall Bradley]

What he should of said was invest in assets that will provide the cash flow to pay the expenses on a house(mortgage, taxes, repairs, ultilities etc). Secondly I know plenty folks who have houses rent out the basement or a couple of floors and have the tenants cover the expenses in a house. That’s an example of a house being an asset to pay of the expenses. Meanwhile your regular stream of income is yours to spend on whatever. Too many people out here making mad money from real estate. And they all started buying one house.

This is great if you’re single.... but the coli exposes its naïveté all the time.... houses are for families and houses are tied to your kids education...... that’s really the main reason to own a home..... imo

 

[BigMoneyGrip]

The white middle class was built off owning homes and property. Now all of a sudden they got all this advice for nikkas
Hey do what's best for you.

I like how in the vid he’s acting like he just took his money not knowing shyt and just went off instinct.. Cac is full of shyt in that vid

 

[saturn7]

He has an interesting point about income from labor being taxed at a higher rate than income made from investments.

 

[BigMoneyGrip]

Of course he'll say some dumb shyt like this in a "black" platform

Vladtv is a black platform?

 

[Harry B]

Yes, let's skip the fact that all the millions of millionaires in the world own their house and listen to this one "motivational speaker".

This type of shyt is like the fools that say getting a college degree is stupid because Gates and Zuckerberg are the richest without one (neglecting the fact that they were both at Harvard and got their ideas there with other people at Harvard).

 

[Mr swag]

I got my house for 105k .. it’s now worth 230k. While that’s not the case for everybody, that statement he made is bullshyt

Just rent one of his properties instead

 

[Mr Hate Coffee]

Land ownership is the only gateway from lower middle class to upper middle class. I know a woman at my job that brought a home in the Kirkwood community for 60k cash from her 401k and now its worth almost half a million. Im a let yall cook tho

That’s the first step. The next step is keeping up with property taxes and holding onto it for awhile. Plenty of black people have lost homes they’ve “owned.” I just wish more energy was focused on what to do after you get a house. There are a lot of people who own homes and are fukked for one reason or another.

 

[IsThatBrothaMouzone?]

Stock market has always yielded more consistent returns than real estate. Land ownership is good simply because of the opportunity, but at the end of the day, it shouldn't be viewed as a primary driver to increase wealth.

Middle class whites beat us primarily because of home ownership. What gets lost in all that is that they have generally made more money than us and received better terms on auto, home and small biz loans. They end up with more disposable income and can pass those lumps of cash on to the kids...enabling the kids to buy homes with nice down payments. Higher down payment = lower monthly mortgage and that = more disposable income. A never ending cycle.

Plus, whites are the majority and have a strong desire to live in white neighborhoods. Because there are so many of them, this increases their property values. Even nice black neighborhoods will have lower property values simply because the demand to live next to us is lower. Fewer blacks + people comfortable with us = less demand and less inflation of values.

If you have the extra income, either buy a house as a vehicle to store the excess cash or rent cheaper than the average mortgage in your area and invest in the market.

 

[Sonic Boom of the South]

It's subjective to a lot of variables
Every home owner not walking away with a profit
Or even shyt to pass on to family

Some people literally ended up Homeless due to home ownership

Better know your situation and plan your finances accordingly

 

[I'm Blackman]

Yes...listen to the white real estate investor.

 

[the bossman]

He has an interesting point about income from labor being taxed at a higher rate than income made from investments.

this is one of the most important lessons I never understood until recently.

You can be a super 6-certs IT breh, doctor, lawyer, whatever high-skill making $100/hr or 200k+/year. But you most likely gonna be paying more than double the amount of taxes that some millionaire investor pays who is living off capital gains or dividends. Chasing that $200 hourly rate or $200k salary sounds good in theory, but the higher tax rate on labor wages compared to investments eats so much of that money up. Warren Buffet actually has a lower tax rate than his fukkin secretary because his income is from gains and not wages. shyt is

Less focus on super high wages and more focus on investments brehs

 

[teacher]

Land ownership is the only gateway from lower middle class to upper middle class. I know a woman at my job that brought a home in the Kirkwood community for 60k cash from her 401k and now its worth almost half a million. Im a let yall cook tho

W/o knowing where you from that must of been MMMAAAANNNNYYYYY moons ago, or a gentrified hood

 

[Amused Mastery]

this is one of the most important lessons I never understood until recently.

You can be a super 6-certs IT breh, doctor, lawyer, whatever high-skill making $200k+/year. You most likely paying more than double the amount of taxes that some millionaire investor pays who is living off capital gains or dividends. Chasing that $200 hourly rate or $200k salary sounds good in theory, but the higher tax rate on labor wages compared to investments eats so much of that money up. Warren Buffet actually has a lower tax rate than his fukkin secretary because his income is from gains and not wages. shyt is

Lol yeah dudes will get hype about a raise not realizing that they got booted into a higher tax bracket and are taking less % home

 

[teacher]

this is one of the most important lessons I never understood until recently.

You can be a super 6-certs IT breh, doctor, lawyer, whatever high-skill making $100/hr or 200k+/year. But you most likely gonna be paying more than double the amount of taxes that some millionaire investor pays who is living off capital gains or dividends. Chasing that $200 hourly rate or $200k salary sounds good in theory, but the higher tax rate on labor wages compared to investments eats so much of that money up. Warren Buffet actually has a lower tax rate than his fukkin secretary because his income is from gains and not wages. shyt is

Less focus on super high wages and more focus on investments brehs

Why not both

Can’t invest if you don’t have super high wages

Wolf of Wall street already told you that junk bonds aint the move unless you are the broker

 

[CrimsonTider]

I got my house for 105k .. it’s now worth 230k. While that’s not the case for everybody, that statement he made is bullshyt

How much money did you put into the property?