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

[Geek Nasty]

This guy is retarded. Couldn't even articulate the math behind his reasoning. Vlad is a clown too.

If you don't want to live in a house, that's good for you. But renting a house is dumb. Any house you're renting you're paying MORE for it than the mortgage or the owner wouldn't be making a profit.

 

[keond]

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

Kirkwood is basically where Future is from. And yea its gentrified......but recently within the last few years. I think she mighta copped it a cpl years ago at a auction

 

[☑︎#VoteDemocrat]

play hot potato and musical chairs with your home brehs

 

[RNS]

How much money did you put into the property?

So far around 5k. Floors and misc improvements. This year or next I plan on dropping another 5-6k to rebuild and expand my deck.

 

[Tupac in a Business Suit]

IMO buying a home is a great investment. Location is key but so is, the ability to be patient. I look at home ownership different than most because I live in NYC where it is always a good investment. To me, I’d rather buy something for 300k, pay it off in 20 years and cash out when I can no longer afford to maintain it.

 

[CrimsonTider]

So far around 5k. Floors and misc improvements. This year or next I plan on dropping another 5-6k to rebuild and expand my deck.

Huh?

How did it more than double in value?

100k has to either be an foreclosure or something in the hood

 

[RNS]

Sho

Huh?

How did it more than double in value?

100k has to either be an foreclosure or something in the hood

short sale

 

[UberEatsDriver]

Right now as far as investments go I’m only sold on buying a condo or a multi family into in the future.

If I buy a single family home it will mainly be because of living reasons.

 

[UberEatsDriver]

Havent watch the video , but why wouldnt you buy a house? One way families are able to lift themselves is through generational inheritance.
You'll have something to pass to your children , and hopefully they can build upon it and pass it to theirs.

I actually want to pass down a business and money to my child instead.

There are different ways to pass down inheritance to your children.

 

[x-factor7]

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

Yup, all these billionaires money is tied up in their businesses, stocks, and real estate, which equal less taxes.

There's also another government tax loophole, where if you buy a primary residence and stay there at least 2 years (that's a fixer upper), for say $100k. Put $50k into fixing it up, and after that, lets say it gets appraised for $200k after 2 years. When you sell, you make a $50k profit, and there's no capital gains tax on it. These dudes have been doing it for years and got millions to show for it of tax free money.

 

[Mike809]

I actually want to pass down a business and money to my child instead.

There are different ways to pass down inheritance to your children.

That depends if your kid is even interested in running the business you pass down to him/her. Everybody has their own set of goals/dreams.

 

[UberEatsDriver]

It's a different era now. You see the house prices in New york, Washington and Cali? Maybe in those places it's not worth buying there. Any where else his statement is bullshyt.

Probably for a working class or middle class person, but for a rich person investing in a large market is a gold mine.

Imagine the money you can make after retirement if you’re a well to do man who bought a brownstone where you can charge 3K a month rent to three or four apartments.

 

[UberEatsDriver]

I live in a house for FREE, because it’s been in my family for 3 generations, and my sister didn’t think it was big enough for 2 kids. The school system is terrible too. But the point is, I can now purchase another home as an investment, thanks to my family OWNING this home, which is 10 minutes from the BEACH!



There are now million dollar condos on the boardwalk.

You don’t pay property taxes?

 

[Crude]

Yeah but they got good deals on it and the game was rigged for them.

Black folks as a group historically get bad deals on mortgage loans unless they join the military period. The crash of 2008 disportionately affected us because they give us fukked up deals.

If you earn a large income, I don't see the point in sinking all your income into a home because you ain't gonna earn any income back from it unless you rent it.

You can sink all your income into income generating ventures so you can live off that shyt passively.

There's a difference to me, in living in some shyt that you got a loan for personally.

Or buying rental properties as a business owner and letting other people live in your shyt.

Homebuying is a scam to me, never understood getting loan to "buy" your house, then paying back the loan in 20 or so years, so you can "own"your house, but then you are the one responsible for all the repairs and etc. But all your networth is tied up into your house and the value of it depending on the market situation and the condition that it is in, which generates no income.

Wealth with no income makes no sense.

After the crash of 2008, no young motherfukker should be trying to fukking own a house.

Might as well, take all that money and buy you some crypto, at least when you get fukked doing that shyt, it is more exciting.

You do realize you can get that house appraised and borrow against it and get home equity loans and so forth and buy things like other real estate.

 

[UberEatsDriver]

It would have been better if the op had posted Beyoncé dad interview with DJ Vlad instead.

This dude is white so nobody here will pay him no mind but Beyoncé dad is also one of those wealthy people who doesn’t believe that a single family home brings you wealth and he’s a renter simply because he doesn’t stay put in one place often and doesn’t utilize most of the space in his property.