Responding to Gary Vee's thoughts on Homeownership

As one of the few Real Estate guys here on YouTube, I felt it was worth addressing and responding to Gary Vee’s thoughts on homeownership - and this is my view. Enjoy! Add me on Instagram: GPStephan Merch: http://www.GrahamStephanStore.com/ GET $50 OFF FOR A LIMITED TIME WITH COUPON CODE: THANKYOU50 The Real Estate Agent Academy: Learn how to start and grow your career as a Real Estate Agent to a Six-Figure Income, how to best build your network of clients, expand into luxury markets, and the exact steps I’ve used to grow my business from $0 to over $125 million in sales: https://goo.gl/UFpi4c Join the private Real Estate Facebook Group: https://www.facebook.com/groups/therealestatemillionairemastermind/ How To Live For Free Videos: https://youtu.be/PobcKgC2QFg https://youtu.be/m6tSUsB12QM https://youtu.be/mmusZ66uH7A So lets start here, and I think this was the main statement that got a lot of people shook: Home ownership is a bad use of capital. The answer to this is debatable - there are situations where he is very much right, and home ownership is a TERRIBLE use of your money. But there are situations where home ownership can be TREMENDOUSLY more profitable than anything else you do. So how do you know which category you fall into? Well: If you’re buying a home to impress your friends - I think that goes without saying, that’s stupid. If you’re buying a home because you want to say you “own a home” - chances are, that’s not a smart move. If you’re maxing out what you can afford just to buy a the largest home you can - Ummm…no. If you want buy a house to live in, but you also want the flexibility to move around as often as you like, wherever you like - Then I have a feeling, you’re better off renting. If you’re running a business where every single dollar you invest BACK into that business doubles your profit - well, it’s safe to say, then you should focus on that BUSINESS and not tie up capital in a down payment buying a house, and I think Gary is right. On the other hand: If you’re buying a home because it’s undervalued and you can fix it up to make a profit - chances are, that’ll be good move. If you’re buying a home because it’ll be a cash cow rental property after you’ve lived in - that’s a good move. If you’re buying a home because you’ve crunched all the numbers and discovered the NET cost to own is CHEAPER than renting - then you should absolutely go for it, and buying a home can be a smart financial move. Here’s the point I’m getting at though - your INTENTIONS and REASONING for home ownership should be the main topic of discussion, not the act of buying a home itself. And unfortunately, the biggest problem I see with home ownership is that nearly EVERYONE considers their home an INVESTMENT, when in fact, very few people EVER truly run the numbers to determine whether or not it’s ACTUALLY a good use of money. In order for a home to be an INVESTMENT to me, it needs to be something I can buy under market value - it needs to be something I can fix up to further increase the value - it needs to be something that cash flows - and it needs to be something that would get me at LEAST a comparable return to investing in the stock market. Now, do MOST people think of any of this when they buy a home? The answer is NO. So why do people call their home an investment, anyway? For most people, owning a home just acts like a forced savings account, where every month you put some money away where it’s safe. The thing is, when you begin viewing home ownership as an INVESTMENT FIRST, PLACE TO LIVE SECOND - it’s like starting to see the entire world in the matrix, where you notice the things most people don’t. Once you start viewing home ownership as not a GOAL to accomplish, but whether or not it’s a viable INVESTMENT - you begin filtering out all the non cash flowing properties, all the homes that barely make a profit - and instead, you can focus on few homes that becomes a money making machine. It’s also important to COMPARE that money making machine with other investment opportunities you have access to, and then decide from there - based on your risk tolerance - if it’s a good move or NOT. And unfortunately, like I said, almost no one does this. And uhhh…yeah. That’s my response to Gary Vee. For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com My ENTIRE Camera and Recording Equipment: https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB

GPT-4正在为你翻译摘要中......

翻译全文