"I really regret paying off my house" said nobody EVER

@albajessicalove

10 ай бұрын

Maria Brisbane helped me secure HELOC with 650 credit score

@johnroebling9329

9 ай бұрын

I think you missed the opportunity and the point.

@albajessicalove

9 ай бұрын

Or visit her website

@adriannathegreat9890

7 ай бұрын

I don't think you understand what he's saying

@kicks4lowofficial139

4 ай бұрын

I regret paying off my car

Paying off my mortgage was one of the best feelings ever. You keep yours all you want.

@ronbonora7872

2 жыл бұрын

I agree! LOL....the world is not new. These young people don't realize that interest rates will start to increase soon enough! LOL

@annetteharding6484

2 жыл бұрын

Why not pay off your house? That’s my goal.

@666dynomax

2 жыл бұрын

@@ronbonora7872 thats kind of the problem. like right now i've got one mortgage at 1.6 and one at 2.69... yeah you can say thats low, but i think this is the time to pay them off while its low... not wait until they're 5-10%.

@billyd78

2 жыл бұрын

Exactly

@chvnse

2 жыл бұрын

to each their own man.

Dave Ramsey is 100% correct. Always pay your mortgage off if you can. The freedom of owning your property is unreal and the best feeling ever.

@SmallSpoonBrigade

Жыл бұрын

Owning property being a bit of a chain not withstanding, he is right on this point. If owning a home makes enough sense to take out the mortgage to buy it, then paying the mortgage off as quickly as practical makes sense. Buying does come with disadvantages, especially if you're buying in an area where people are leaving, or if your industry may have better prospects in other parts of the country.

@dr.raymond8

11 ай бұрын

@@florianmadison look her up

@florianmadison

11 ай бұрын

@@dr.raymond8 thanks .. i found her webpage

@jamieg9607

10 ай бұрын

Facts!

@albajessicalove

10 ай бұрын

​@@SmallSpoonBrigadeMaria Brisbane helped me secure HELOC with 650 credit score

The home I purchased in 2023 has appreciated by $60,000 since my acquisition. However, the downside is the diminishing value of the dollar. I am currently contemplating strategies to reinvest $300,000 in the real estate market.

I own real estate, industrial income and land. I sold all of my apartments in 2005. I'll never own anything again that people live in. Tenants think you're their nanny and they don't respect what they don't own. Most don't even respect things they do own.

@Watchthis7777777

2 жыл бұрын

Sadly this is mostly true :-(

@bigkid757

2 жыл бұрын

I’m going through this right now. Never against.

@JK-ks3xq

2 жыл бұрын

@@bigkid757 ...I wish you well Big Kid. I don't know what state you own rentals in but, in my state, the tenants have all the rights.

@robertmoran3589

2 жыл бұрын

That’s why Home Depot sells cheap supply’s

@konagirl805

2 жыл бұрын

I've been feeling the same way about my rentals... but right now with inflation (and it doesn't appear "transitory" has we're being told) hitting I'm keeping my real estate.

This guy has a very different viewpoint than Dave Ramsey (or I) do. I’m 78 years old and retired. I’m so glad I have no debt! It gives me the freedom to do what I want. The Bible says the borrower is the slave of the lender. That’s the best advice I know!

@tatianaflorez7858

2 жыл бұрын

Congrats on your retirement! I have to say that this eternal law rings constantly in the back of my head.

@Jwdude123

2 жыл бұрын

Keep it in church

@iunderstanphotography2780

Жыл бұрын

exactly many people would love to be in your position but poor health or bad decisions led to debt until the grave

@tonymoretti2347

Жыл бұрын

Very true

@thekidsarefine6303

Жыл бұрын

@@Jwdude123 huh

Paying off your house is a great feeling.

Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. Hence what are the best stocks to buy now or put on a watchlist? I’ve been trying to grow my portfolio of $560K for sometime now, my major challenge is not knowing the best entry and exit strategie;s ... I would greatly appreciate any suggestions.

@_EduardoAzevedo

Ай бұрын

For the average individual, the tactics are rather demanding. Actually, most of them are effectively completed by professionals who possess the necessary knowledge and skill sets to carry out such trades.

@BeverleeR.Ziegler

Ай бұрын

Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k.

@Erickruiz562

Ай бұрын

I've wanted to start investing for a few months, but just haven't had the courage to start because the market has been down for most of last year. Please how can I reach out to your financial advisor and what are their services like?

@BeverleeR.Ziegler

Ай бұрын

@@Erickruiz562 There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Jennifer Lea Jenson” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

@BeverleeR.Ziegler

Ай бұрын

There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Jennifer Lea Jenson” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.

He failed to mention....a bad renter can destroy all your plans

@sandan778

2 жыл бұрын

True and how about if all your renters leave where you get to pay the mortgage, bad bad headache.

@runitup544

2 жыл бұрын

And a Pessimistic mind will prevent you from opportunities

@hughmanatee7626

2 жыл бұрын

@@runitup544 Correction: A Realistic mind will prevent set backs. Those who aren't well off from the start don't stand a chance against said set backs.

@runitup544

2 жыл бұрын

@@hughmanatee7626 not 100%. And yes we all stand a chance.

@joemc111

2 жыл бұрын

Lots of places you can’t throw the non paying renters.

You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

@ibrahimyusuf677

26 күн бұрын

Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.

@swankydreams729

26 күн бұрын

I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.

@PaulaEspinoza-js2tp

26 күн бұрын

How ..? Am a newbie in crypto investment, please can you guide me through on how you made profit?

@cathrin_odeya_okelani

26 күн бұрын

Thanks to Mrs Maria Davis.

@cathrin_odeya_okelani

26 күн бұрын

She's a licensed broker here in the states

Kris has some great content, but paying off our home was the best financial choice we ever made. No recession, economic crisis going to put my family out on the street or separate us.

@Bubby1100

2 жыл бұрын

Agreed. You can still use debt to buy a rental house, etc. But your home should provide protection.

@floridaman5125

Жыл бұрын

Just pay those taxes, you still rent it from the government.

@jordesign

Жыл бұрын

@@floridaman5125 Are there way to not pay property tax? If so, I need to know....

@alansach8437

Жыл бұрын

@@floridaman5125 Yeah, but property taxes are usually a fraction of what mortgage payments are, and in many states, they will give you a break if you suddenly find your income slashed.

@floridaman5125

Жыл бұрын

@@jordesign only way not to pay is not to own. - or military service seems to be beneficial.

Thank you very much. That's just what I needed to see. My wife and I own a couple properties and have other sources of income in addition to our own business. I am about 52 years old, and we have begun to save in order to retire comfortably and potentially live on rental income. I would greatly appreciate it if you could go LIVE and discuss how to get passive income online and retire happily.

@talented009

9 ай бұрын

It's a delicate season now, so you can do little or nothing on your own. Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.

@ThomasHeintz

9 ай бұрын

Very true! I've been able to scale from $350K to $650K this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market.

@DarleneMurphy774

9 ай бұрын

@@ThomasHeintz Do you mind sharing info on the adviser who assisted you? I'm 39 now and would love to grow my stock portfolio and plan my retirement

@ThomasHeintz

9 ай бұрын

The investment-advisor guiding me is Elise Marie Terry, she is popular and has quite a following, so it shouldn't be a hassle to find her, just search her

@esther.74

9 ай бұрын

@@ThomasHeintz I just looked up Elise online and researched her accreditation. She seem very proficient, I wrote her detailing my Fin-market goals and scheduled a call.

Paying off my house was the best thing I ever did. Losing that $1500 a month debt has made life easy.

@fortnersgarden2526

2 жыл бұрын

...my insurance and taxes are wrapped in my mortgage so I wouldn't be saving the amount I pay monthly...?

@insideoutsideupsidedown2218

2 жыл бұрын

@@fortnersgarden2526 now they are just a monthly bill like car insurance and utilities.

@leejesson3368

2 жыл бұрын

Mvdo

@ab221983

2 жыл бұрын

So agree with you, and congratulations your living like no one else... just like dave ramsey

@hdj81Vlimited

2 жыл бұрын

1500??? jezus......

I'm gonna listen to Dave Ramsey on this one. When my mortgage renewal was coming up, I told the bank I was paying off, the rep went from all smiles to sad. I knew I was doing the right thing

@iamhischosen3866

2 жыл бұрын

Lol

@rudyperez9333

2 жыл бұрын

And you went from all smiles after paying off your house to sad going back to work 9-5

@Krynale

2 жыл бұрын

@@rudyperez9333 As if I wasn't working 9-5 prior... what's your argument?

@cathiemcginnis3997

2 жыл бұрын

@@rudyperez9333 nope. I retired!

@mendez33123

2 жыл бұрын

@@rudyperez9333 be nice Rudolpho Cruz🤣

This strategy works perfectly until a negative economic shift occurs and the rental properties lose its tenants or the rental rates have to drop. “Freedom” to me looks like not having to risk bankruptcy if I lose my job.

@jayc4715

2 жыл бұрын

Or get sick/injured

@jayhenry3709

2 жыл бұрын

Or layer off

@jmrichards5910

2 жыл бұрын

or say.... the government gives people permission to quit paying the rent and you can't evict them...

@kreuzrittergottes9336

2 жыл бұрын

@@jmrichards5910 fortunately that was ruled unconstitutional but it took a long time to reach the obvious conslusion

@johnhunt5365

2 жыл бұрын

Or until everyone is trying to rent houses to everyone else, this only works if a select few of a population does real estate

Financial freedom is underrated . Having no mortgage and doing what you want without worrying is the best thing ever !

No debt no stress

Paying off my house was the best move I ever did

@spacecash9721

2 жыл бұрын

No you just think it is 😂 bad move

@criticalthinker8374

2 жыл бұрын

Using my house equity made me 12 million dollars.....I'll bet my move beats yours.

@ShepherdMinistry

2 жыл бұрын

@@criticalthinker8374 care to explain?

@jasonwill5949

2 жыл бұрын

@@ShepherdMinistry arbitrage. Did you watch the video?

@williea.9704

2 жыл бұрын

Congrats. What about the recurring cost tied to being a homeowner such as utilities, repairs, state/county taxes, etc.?

Never pay off your house because the bank love this. This is actually a teaching that was created by financial institutions. This make about as much sense as saying you shouldn’t pay off your credit card.

@joycewatt8289

2 жыл бұрын

LOL 😂 but you are right!

@smartcookie3500

2 жыл бұрын

You will own NOTHING and be happy.

@honor4thoseb471

2 жыл бұрын

Your credit cards aren’t assets

@SandMan50Kal

2 жыл бұрын

The guy is not saying not to pay your monthly mortgage. He’s saying to not pay off the mortgage debt. Big difference. U still have to make payments, duh

@changsterville

2 жыл бұрын

@@honor4thoseb471 a house is not an asset, it’s a liability. Educate yourself.

I always listen carefully to financial advisors , then do exact opposite, it has served me well since I learned that ,

@barbarailarpenter6815

Жыл бұрын

Ha!😊

@nickcoppard5335

Жыл бұрын

@@barbarailarpenter6815 you better believe it , they cost me thousands lining their pockets , since I ignored them I have done brill ,

@psilocypher

11 ай бұрын

Well in this case, you have two different advisors telling you two different things. This guy and Dave Ramsey. Which strategy are you going with?

I’m 36 and I have about ($190k) liquid in savings which I plan to put towards becoming a homeowner, but based on the current high prices on real estate, do you suggest I hold from buying and look at stocks instead?

@FinnBraylon

27 күн бұрын

Yes, housing crash is coming. If you're thinking about investments to earn huge income while maintaining the ability to access your money and safety, so you don't get caught in a market decline, a financial planner can come in handy

@HildaBennet

27 күн бұрын

True, a lot of folks downplay the role of advisors, until being burnt by their own emotions, no offense intended. Amid covid-19 pandemic crash, I needed a good strategy to grow my portfolio, thus I consulted the service of a true market strategist that helped to rejuvenate my $700k portfolio, boosting its return over 240% as of today.

@PennyBergeron-os4ch

27 күн бұрын

I was taught well on how to save, nothing on dividends, but now in my mid 30s, I'm really ratcheting up investments with the help of a reputable advisor, realized nearly $800k after subsequent investments in barely 4 years so far. I do think I have dropped a lot of stress about finances having a long term perspective about investing.

@HildaBennet

27 күн бұрын

This is great! think your manager would get on the phone with an unknown? I'm concerned about my savings due to high inflation.

@HildaBennet

27 күн бұрын

It's good you make your own research. and make sure whoever you work with is licensed n verifiable with a repute, this Sonya looks the part but i'd do my due diligence. I set up a call, thanks.

As an investor and a property owner, the idea of owning a large number of properties makes me shutter. Property ownership can be expensive, tenants are a pain, and homes generally aren’t that liquid. I suspect a middle ground between the two philosophies is the way to go.

@designthinkingwithgian

10 ай бұрын

yes

@Nperez1986

5 ай бұрын

location location location. Only those that dare will achieve greatness

Having my house payed off during the covid pandemic was a life saver .I would stay with Dave Ramsay's method .

@mac1bc

Жыл бұрын

Didn't Dave first go bankrupt having too many loans out? I agree no debt is the way to go.

@Randoskie

Жыл бұрын

@@mac1bc You can lead a horse to water

@driven01

Жыл бұрын

@@mac1bc Yes, when he was younger. He's open about it, and why he is so strongly against getting into debt.

@TheGeneral_LUFC

Жыл бұрын

Ramseys advice is ridiculous

@da324

Жыл бұрын

@@mac1bc If no debt is the way to go, why do the richest companies in the word borrow millions when they can merely buy things outright?

The Last payment on ur home is the Best one You'll ever pay !

100% of foreclosures happen to houses that have a mortgage

@mementomori29231

2 жыл бұрын

Or you lose your home because you can't pay the property tax and lose all your savings locked up in the house.

@joaquimrodriguez8961

2 жыл бұрын

I'm sure everybody can do the math on that one.

@jackburton6239

2 жыл бұрын

@@mementomori29231 mortgage payment=$1500. Tax+insurance=$350

@vijabe

2 жыл бұрын

@@mementomori29231 All things being equal, the only way one couldn't pay property taxes is if tax rates start hyper-inflating. And if tax rates start hyper-inflating, then your fiat savings will soon be worthless, irrespective of their liquidity.

@markblackburn5615

2 жыл бұрын

@@vijabe I can tell you don't live in California!

Failed to mention, renting out houses requires finding responsible renters. When no one is renting your house, you are footing the mortgage on it. Any plumbing, roof, furnace, ect issues... You foot that bill too

@vcoonrod

2 жыл бұрын

Not to mention that a rent moratorium appears permanent in many states. His system no longer works. Surprised he has not updated his advice.

@charliered9391

2 жыл бұрын

@@vcoonrod well we watched it.. LoL. I think he still succeeded here

@ABC-gs3fe

2 жыл бұрын

@@vcoonrod not work but mortgage still need pay . opppps system error

@runitup544

2 жыл бұрын

That’s the risk. But the reward is worth it

@OmniscientVirtuosity

2 жыл бұрын

@@runitup544 nah. The “loss” is being homeless. He can have the atvs and dune buggys

This works out great if every rental property always has a tenant. This is an extremely risky strategy that might work out, and could very easily turn into bankruptcy. That's not freedom. That's stress.

@cute2neko

2 жыл бұрын

True that but is freedom from the boss on your ear at least

@SmallSpoonBrigade

Жыл бұрын

Honestly, unless you've got a bunch of time and energy, you're probably better off buying into a REIT rather than buying your own rental properties. It's something that really was hammered home during the pandemic when there was a moratorium on evictions, but not on the collection of rent or the mortgage payments to cover those properties. At least with a trust, there's the possibility of owning a slice of enough different classes of real estate to reduce the risk of one tenant not paying.

@redeemablesoul

Жыл бұрын

Stress and high blood pressure.

@johnw6648

5 ай бұрын

the value of reit's generally is down a lot @@SmallSpoonBrigade

Having no mortgage is financial freedom. As long as you have a mortgage, the bank owns your home . if you can’t pay the mortgage the bank will take it.

@MrRobertMacknaw

2 жыл бұрын

You never really owe your house. If you dont pay real estate taxes your house will be taken from you and sold.

@y_yy_2844

2 жыл бұрын

@@MrRobertMacknaw But paying someone else's mortgage + property tax, or your own mortgage + property tax, is better than just only paying your own property tax?

@joycewatt8289

2 жыл бұрын

Say that a little louder in case the folks in the back didn’t hear ya! Homeownership 101 is WHEN you have a mortgage 💸 you don’t actually OWN the home. It should be called “home non-ownership.”

@juliesnow5542

2 жыл бұрын

The h.o.a. Can take your house too, along with the bank, and if you don’t pay your taxes, the gov’t will take it as well.

@miyard9233

2 жыл бұрын

@@MrRobertMacknaw True, but the Guy who pay off his mtg would be a fool not to pay his property taxes which is a fraction of the yearly mtg payments.

Still the best thing we ever did was to pay off our house early, it has helped us in ever facit of our lives as we use it ofr leverage whenever we want to expand our business!

@TahoeRealm

2 жыл бұрын

I did the same which will enable us to retire early with less worry.

@ctazz2591

2 жыл бұрын

I don't regret paying off my house early. This allowed me to work part time etc.

@kbanghart

2 жыл бұрын

It's great if you want to keep the property, but I'm moving so I don't care.

@lettuceboy2382

2 жыл бұрын

Consider that if you invested the extra mortgage payments in an index fund you wouldn’t have to work at all

@paulredressparker4288

2 жыл бұрын

@@ctazz2591 kk

👏👏👏 Well done on the production value of this video. Your bad advice was delivered excellently.

@TonTreyMarc

2 жыл бұрын

Bol!!!!

@dvbernard

2 жыл бұрын

Videos like this all have the assumption of no economic downturns or large, unforeseen maintenance costs. When you're loaded with debt and are only "wealthy" on paper (i.e., when you never completely own anything) a sustained downturn is going to screw you hard. This was literally the logic of the 2008 housing crash.

@eddyvideostar

2 жыл бұрын

@@dvbernard: To Ian Hernandez: Yes. It's a dangerous and burdensome business. No matter how well and successful your people skills are (arse kissing), there is no guarantee that the tastiest creme de la creme will not turn rancid and stale.

@astroman30

2 жыл бұрын

This is the best comment I've seen in a long time.

@joycewatt8289

2 жыл бұрын

Lol 😆

To quote Dave Ramsey, 100% of foreclosures are on houses with a Mortgage.

Payed off my house at 40 now I can invest freely.

And then you run into rent forbearance and inability to evict non-paying tenants thanks to the government.

@daviddave8266

2 жыл бұрын

should of bought a one family house then.

@99yota30

2 жыл бұрын

Or you screen your tenants better. 4x rental income and 745+ credit.

@rokyericksonroks

2 жыл бұрын

Over 90% still have some equity ( i.e. they are not underwater) and yet the government steps in to protect them from due process. It’s wrong. I object to it on moral grounds.

@revatherealestateagentandr8964

2 жыл бұрын

There is a mortgage forbearance available as well going on so that investors in apartments, etc. can make it through this. And all the while the property is gaining value. There are buyers itching to buy the rental properties some are wanting to dump due to fear.

@codymorgan9512

2 жыл бұрын

@@99yota30 4x rental and that high credit and not bought a house ??? Hmmm lol

Make sure that if you are using this technique, that you can still pay the rent + expenses, with or without having a tenant in the property. This will eleviate the stress to get a tenant asap which may distort your screening process. Scale your wealth responsibly. Calculated risks people.

@jmax6614

2 жыл бұрын

Exactly

@lorollinls

2 жыл бұрын

Well said!

@apexlowe2788

2 жыл бұрын

spot on!

@shawnn6926

2 жыл бұрын

Landlords need to screen and rescreen and treat them with respect. Bad landlords = bad tenants.

@Rhynoplasty

2 жыл бұрын

Well said!

Pay off your mortgage, work less, actually live your life instead of just paying bills.

@robi6317

Жыл бұрын

^^^^^ THIS!!!

paying off your mortgage is a guaranteed winner - giving you peace of mind and sound sleep at night whilst investing though It's mathematically correct but it has a potential risk and uncertainty ie, if rate rises, you lose you job, property values going down...so really it is a case by case depending on your circumstance

You should always pay off your debt as soon as you can and start buying assets that produce income. Ask anyone who had loads of debt and saw interest rates rise and rise only to lose their houses and businesses.

@jimz.438

2 жыл бұрын

EXACTLY, this dude has not lived through an economic downturn yet. He's too young to know; therefore, he doesn't even know what he doesn't know!

@lorenaelizabethmontielvies563

2 жыл бұрын

So true!

@adorolivar1340

2 жыл бұрын

Spot on Nigel.

@EverydayMoney0

2 жыл бұрын

Mortgage debt is usually fixed rate debt that is unaffected by rising rates.

@raftika1

2 жыл бұрын

@@jimz.438 isn’t that what’s happening right now?

So tell us about the tenants that don't pay rent. Tell us about the tenants that trash the house. Tell us about the rental property maintenance.

@JP-de6yz

2 жыл бұрын

Yea. Tell us about it. Lets hear it.

@hapaharley1706

2 жыл бұрын

Shoulda got better tenants. You know there's a screening process right?

@daviddave8266

2 жыл бұрын

should of bought a one family house

@runitup544

2 жыл бұрын

Tell us why you had poor tenants

@dannystephenson4197

2 жыл бұрын

Buy land and grow trees up until the green bugs come.

Thats why my landlord loves us. We pay our rent on time never really call him with no issues and have his house clean and taken care of.

You want to pay off your home to own it and not be in bondage to debt. Don’t let anyone fool you. Leveraging credit is a completely different ballgame than personal debt.

Pay off your house asap! Never listen to someone who says otherwise.

@user-ne9wp8ve5u

2 жыл бұрын

Agreed!

@consumerdebtchitchat

2 жыл бұрын

18 payments left and I ain't stoppin. Agree totally!!

@AMPProf

2 жыл бұрын

ehhh..... millionaires never own their homes!

@jx6564

2 жыл бұрын

@@AMPProf tell Buffet...or Slim...or wait...Gates...

@steelphantom9105

2 жыл бұрын

This guy is giving bad advice, don’t listen to him.

When people tell you that paying of your house is a bad idea you should never talk to them again about finances

@stanmoney8470

2 жыл бұрын

Exactly! If you have a high debt to income. Paying of your home would reduce your debt. Most lenders would tell you that 🤷🏿‍♂️

@azhardav

2 жыл бұрын

well sir, I would say it depends. If one has high credit card debt or other high debt, pay that off 1St, otherwise mortgage debt is cheap debt and not all debt is bad. Dont forget one gets to deduct mortgage interest, also using equity in your home to take other mortgage and buy other property is wealth building.

@kbanghart

2 жыл бұрын

I'm definitely NOT concerned about paying off my house, cuz I'm moving to put myself in a better financial spot. My equity has been rising faster than my regular rate of principal pay down.

@keithcastleberry3993

2 жыл бұрын

Amen to that!!

@lettuceboy2382

2 жыл бұрын

It’s not a bad idea but it might not be the best idea

The underlying message is correct - however Kris over simplifies the pathway - I own 54 homes and this works - however it is not quite as simple as the way Kris portrays it!

The process assumes low interest rates and consistent levels of rental income. If any of two changes, this process can lead to bankruptcy.

DO NOT TAKE FINANCIAL ADVISE FROM THIS GUY EVER!!

@user-ne9wp8ve5u

2 жыл бұрын

Agreed!!

@larrydastooge

2 жыл бұрын

You can say that about many. Do Your HOMEWORK!!!

@tyronekim3506

2 жыл бұрын

Right. The guy is in a dream world.

@lvsqcsl

2 жыл бұрын

Do you think?

@LeverPhile

2 жыл бұрын

I'm having flashbacks to the late 90s and mid 00s listening to this guy ..

Pay off house ...and live happy!!!

@jasoncentore1830

2 жыл бұрын

Whatever people say, their is no advantage to paying a mortgage. Use the $ you no longer pay your mortgage with to invest. Even if market crashes to $0 you own your 🏠

@MR..181

2 жыл бұрын

But not in an hoa as debtors buy in at zero down and promise to pay at 3.5% that forces you to sell at higher price, as the inflation cost of their threats and demands make owning trouble.m

@rjdal8873

2 жыл бұрын

@@jasoncentore1830 you never own your home. Try not paying your property taxes and see if you own it.

@butterfly9274

2 жыл бұрын

@@rjdal8873 exactly!

@b__w_4565

2 жыл бұрын

@@rjdal8873 ya bro i wanna find a country with no property tax honestly. after I've made a few hundred thousand at least.

I spent 38 years banking consumers, businesses, governments, international conglomerates and, yes, I even banked other banks and the stock exchanges. My most successful clients who had the options to do whatever they wanted were those without any debt or equity partners. Pay off your mortgage at a 20 year clip, don’t carry any consumer debt, drive a paid off car, invest at 20 percent of gross income, and enjoy life and relationships along the way.

Yeah this definitely works in theory…. Until the renters refuse to pay rent and you have to pay to have them evicted and that can take 2+ months. And then you’re screwed.

Many people took your advice and because of covid and the rent moratorium got screwed. There was a video on KZread of a woman and her child living in their car because of a bad tenant they couldn’t evict or collect rent from. SAD

@SceneFailsss

2 жыл бұрын

Where’s the link , cap

Yeah... I'm still paying off my mortgage at the end of this month. 😅

@kbanghart

2 жыл бұрын

Nice!! I'm not paying mine off, instead I'm moving.

@dianepereira1860

2 жыл бұрын

Congratulations!

@RandomJane104

Жыл бұрын

Congrats!

Everything I own has been paid off for decades. House and cars. I have no credit card debt and my score is 860. The economy is pretty rough right now, but I feel just fine having zero debt. Stop spending, what you don't have.

To me leveraging credit to invest in assets and build income is a little bit different than debt. Do you go into debt to leverage credit to invest yes. Definitely not the same as running up credit cards, buying cars you can't afford etc... only hard part now is whether you will get burned by renters supported by the government or not.

The best sleep🛌🛌🛌 is sleep with zero debt....u should try that someday dude 😂

@gmoney860

2 жыл бұрын

Absolutely!!!

@steelisthemeal

2 жыл бұрын

True

Your advice has too many mutually inclusive assumptions that are dependent on each other. My advice: eliminate or minimize debt.

@filemonshitaleni1398

2 жыл бұрын

@Nick Ade and provided that all those conditions prevail. There's too many factors to consider.

Wow. So many folks who tried to HELOC their way to wealth will soon learn what the risk was as interest rates go up and home prices go down. Insane.

We paid off 32K of debt in 18 months. BEST FEELING EVER! We were very good with money, we just didn’t account for risk. When life throws you 5-6 curveballs in a row, you get pretty dodgy about chaining yourself to the oar of the debt ship. Gonna stick with Dave on this one.

If you have rentals all mortgaged right now and your tenants are not paying and they wont do a forebearance on a non owner occupied home guess what your home will be repoed at the end of the foreclosure ban. Unless you pay the mortgage and go broke. 10 MILLION HOMEOWNERS ARE BEHIND ON MORTGAGE PAYMENTS WAKE UP PEOPLE!

@rebeccarussell6112

2 жыл бұрын

"10 million homeowners are behind on mortgage payments"- How can I obtain the list of owners that are behind?

@robi6317

Жыл бұрын

how many of the 10M LIVE in those homes? this is a rare case where an investment (owning rental property) didnt work out, and thats the way it goes sometimes.

All the best financial advisers said: pay off your mortgage if you could.

@khadijahdavis1572

2 жыл бұрын

Right, this guy is giving horrible advice

@rebeccataylorshaw6532

Жыл бұрын

Psychological capitalism

As Dave says, if you play with snakes your bound to get bit.

Peace of mind is priceless!

This makes sense when the house is only occupied by yourself or tenants: not your kids and anxious wife. Raising risks of loosing the family nest often doesn't worth the stress of doing it.

@kbanghart

2 жыл бұрын

Yeah, my wife and kids already went thru the 2008/9 crash stress, got our home foreclosed, we sure learned our lesson. Not doing anything risky ever again. Which also can have its downsides as well.

@jmrichards5910

2 жыл бұрын

I don't think I heard this snake oil salesman say "risk" even once.

@robi6317

Жыл бұрын

@@kbanghart are you renting now? you should still buy vs rent - esp if the loan you got back then was a loan they shouldnt have given you. owning a home is how most people build wealth

@Dontex_r

Жыл бұрын

@@jmrichards5910 I wouldn't say he's a snake oil salesman but he did leave out that this is a hugeee risk...

@davisholman8149

Жыл бұрын

THE PSYCHOLOGICAL ADVANTAGE does not have a price tag. This is something people need.

Anyone recommending you take out a home equity loan, don't walk away, RUN!

HELOC’S work great where you’re able to utilize the equity in your home, but I would suggest a HELOC only if you are pulling out a small amount of the equity. If you are trying to pull out a large amount, it could definitely be risky especially today with rates on the rise. Considering a fixed rate refi is less riskier than a HELOC when you’re pulling out the type of equity described here.

I just fell in ❤! Simply put so anyone can overstand it! Good fkn job man good job!💯

Best debt is no debt, thats my motto.

@gspainting11

Жыл бұрын

Well said!!

Normally I would agree. Currently, there is no job security, and having to make that mortgage when the government tells your tenants they don’t have to pay rent....well you still have to be able to make the payments to the bank, so you better have some funds saved. Whole new ball game now days. 10 years ago when you were 26 this was great.

@Andy-ss8yg

2 жыл бұрын

Maybe that’s the deep reason why the government allows tenants to have all the power, to prevent a lot of people from doing this due to horror stories

@jimdavis5400

2 жыл бұрын

Let's go Brandon!!!

@noobsaibot1182

2 жыл бұрын

@@jimdavis5400 why are you so confused about reality

@SmallSpoonBrigade

Жыл бұрын

@@Andy-ss8yg The government wants smaller landlords to lose their properties so that private equity can get a stranglehold on the market and prevent people from ever buying their own home.

@cakyle1982

Жыл бұрын

EXACTLY!!! Socialism in business and government turns the tables in the last couple years. To say a few homes owned with 4500 a month in rent. But thats not guaranteed. And your home depends on it. This video is fraught with discrepancies.

While on balance I agree with Kris' advice on reinvesting your investment with leverage, to not advise on the risks involved is misleading. I use my stocks as collateral to reinvest with leverage, this year has been brutal of my overall long-term profitable strategy. I expect the real estate market to have a similar year soon so I'd be cautious on taking on debt in this market.

Be your own person , be independent, and show the world how much you have to offer , What do you think about *Linux tech corps* ?? I think it’s the gateway we all need

@investwithww.virtualcrypto4025

2 жыл бұрын

I think they are the best !!

This is precisely the kind of advice you expect to hear during boom times like these. How does it all work out when the bust comes? Not well.

@lettuceboy2382

2 жыл бұрын

It works out when you have time on your side to ride the ups and downs of the market

@charlesperigord1599

2 жыл бұрын

Finding an investment that pays a 25% return may not be as easy as he makes it sound . . .

@hifinsword

2 жыл бұрын

@@lettuceboy2382 Whether it's the real estate market or the stock market, there will be ups and downs. You need a financial cushion to ride out the ups and downs.

@the_fixer_guy

2 жыл бұрын

When the tide goes out is when you find out who's skinny dipping!

@criticalthinker8374

2 жыл бұрын

@@hifinsword Yes, you never over leverage ! That will ruin you ! Careful leveraging is the key.

Great information. Thank you and god bless, brother. Love this video.

You are my new friend!! I love the format! Wow! My brain feels relaxed from getting this info! Thank you brother. I will be watching all... your videos. 💚💚👊🏽👊🏽

If you owe 200k and your house is worth 400k that means the house you purchase to rent is going to be overpriced as well. So you increase your mortgage payment by borrowing against it to purchase the other house plus the payment on the other house is going to be really high with only 50k down. Where is the $450 profit coming from? The rent payment you collect most likely won’t cover the payment or the the equity line payment.

@bc_usa

2 жыл бұрын

You forgot that you also have to pay back the equity loan you took out on your house...he never mentioned that.

@MrChevelle83

2 жыл бұрын

@@bc_usa He never mention mortgage interest vs simple interest, and closing cost, thats just the bank part. What about the yearly maintenance on several houses???? so many things left out.

@sephorareynolds5786

2 жыл бұрын

Yeppp he is living in lala land… that is the land of make belief… with that advice

@SmallSpoonBrigade

Жыл бұрын

@@bc_usa Also, keep in mind that on some types of loans that are backed by your house, you may wind up losing the home if the bank calls the loan and you can't arrange a new loan in time to prevent that from happening.

@jaynetolman1457

Жыл бұрын

@@bc_usa That's exactly what I was thinking

Hmmm….not convinced. I still want to pay off my mortgage ASAP.

i paid mine in 7 years and so happy i did so many others now lost their homes from money, work, government issues and parasitic tennants

Thank you very much Kris, for such a good video

No debt...no worries & at 57...im cool with that 😎

@rosesandthorns47

2 жыл бұрын

Best thing.

@AMPProf

2 жыл бұрын

listen here if you hook me up with your social security number, date of birth, birth name, and address I'll gladly let you borrow at 25%! lol

Equity line is like a 2nd Morgage

Brother I love your videos! They make so much sense to me!

You can pay off your mortgage and still get a line of equity on that property anytime you want. You don’t need a mortgage to withdraw a line of equity.

@WHOSKOW1

Жыл бұрын

Tried that and yes you need a first on the property to get a second or Heloc. I guess you mean that "line of equity" would be the first?

Debt is slavery. Pay off the house. Buy what you need not everything you want unless you have $.

@kbanghart

2 жыл бұрын

NO thanks, I'm not paying mine.

This guy is everyone’s broke brother-in-law

@aaronsandell4830

2 жыл бұрын

Actually he's very wealthy but nice try

@davysmith8569

2 жыл бұрын

@@aaronsandell4830 he may be wealthy but his results do not equal = yours or mine. Its all risk.

@jayc4715

2 жыл бұрын

😆

@phasetoo1

Жыл бұрын

😂😂😂😂😂😂😂😂

You are a genius brother! Im glad I found you. I'm in the middle of purchasing my first multi-family home!

ok this is why you keep an old guy around: in the old days, pre WW2 if you had a mortgage the bank could call it in at any time they wanted. Thus you didn't want to get stuck with only a few years left and bank come calling. So it was very important to pay off the Mortgage.

Just had a renter break a window, he is blaming it on the heat wave. Looks like the rent will be going up in January. Ordered the replacement today.

@patrickm6012

2 жыл бұрын

@@joel0990 sometimes them leaving is better than dealing with a bad renter.

@remnad2323

2 жыл бұрын

My "last" tenants did over $6k of damage after not paying rent and eviction. He then quit his job so that I couldn't get my court ordered losses. After over 10 years of renting, I no longer had the energy to br a landlord any longer. One yesr later of having the vacant property, I sold it.

@ernestjackson5812

2 жыл бұрын

🤣🤣🤣🤣

@amyzieger5198

2 жыл бұрын

issue them out a swift spanking against the hard brick wall too with it sir!!!

He just explained the part of monopoly where you put houses and hotels on your property 💡 💡 💡

His strategy may increase assets but it also increases liability. Increased reliability = increased risk

Always, always pay off that mortgage as fast as possible.

A HELOC is the bomb waiting to go off. It does not make sense at all that the bank can charge you as he pleases and May recall the loan at any time. Plus ask all the landlords that were screwed by their own Government during the pandemic.

*Linux tech corps* is the key to the future and that’s on everything , it’s better you all start now because this is something everyone needs to look into

In a perfect world, yes. Certain circumstances in life depict how one handles their finances. Krohn and Ramsey both have great advice, just depends on where you are and where you've been. Not everyone's world is the same.

First time watching you but but after taking my time listening to everything you have to say in this video left me no choice but to subscribed to your channel.

Only problem is: tge bank can call in those loans anytime. It can and has happened. You lose your new home.

That all sounds wonderful but it’s so hard to get approved to purchase another home when you are already a homeowner due to the income to show monthly to purchase the other property.

One thing you forgot to say, is that once you get the five homes you're going to have five payments that you have to come up with

@markwegner6100

4 ай бұрын

Rent pays mort.

This has been very informative thank you.

No way on God's green Earth am I getting a 40 year mortgage.

@Aarah_ylp

2 жыл бұрын

@Katherine P well said

@mjack618

2 жыл бұрын

😂😂

@HisMaidservant

2 жыл бұрын

amen!

@greenearthblueskies8556

2 жыл бұрын

🤣🤣🤣🤣🤣

@timestories7836

2 жыл бұрын

never!!!!!

Im happier that the house is payed off. A mortgage blows, its slavery.

@edhcb9359

2 жыл бұрын

So since you still have to pay property tax every year aren’t you technically still a slave?

@Will13874

2 жыл бұрын

@@edhcb9359I'd rather pay property taxes than a mortgage plus property taxes.

@oscarrlee18

2 жыл бұрын

No mortgage is no write off so higher taxes anyway. It blows because you don t get it and you never will so enjoy. And learn to spell.

@jayc4715

2 жыл бұрын

Agreed

@juanguzman3143

2 жыл бұрын

@@oscarrlee18"don't"

Love the vid...you broke it down and made it simple....thanks!

Oh my!!! That's all i need to know to start getting rich! Thank you 😊

Hmmm.... He's playing with fire. Pay off the debt and then invest.