9/13/2023 0 Comments Dream twitter wearedream![]() Instead of buying a house, the real estate investment guru says you should rent where you live and use the $100,000 you saved for a down payment to instead invest in real estate that generates passive income. Sign Up What Cardone thinks you should do instead Plus, the platform is lowering the barrier to entry for rental property investing, so you can get in on it for as little as $100. This is a big game.”Īrrived is an online platform where you can invest in shares of rental homes and vacation rentals without the headache of being a landlord. And then if they can get some more money, they’ll have a little retirement account - that funds Wall Street. “They’ll borrow money from the Bank of America. “They’re serving a master,” said Uncle G. “And you had to put $100,000 down to do this deal,” he adds - referring to a 20% down payment (the percentage lenders historically required for you to buy a home without mortgage insurance) but many have since relaxed that stance. He described the exercise as “dead money” - a term used for an investment that has shown little increase in value or is locked up for a long time with little yield. “You’re not going to sell it for that, to break even.” “A $576,000 home will have to be sold for $1.2 million in 10 years,” said Uncle G. Those additional costs add up to $645,120 - and when added to the original price of the home ($576,000), brings the total to a staggering $1,221,120. ![]() On top of that huge total, Cardone said you’d also have to pay the following fees over a decade: He gave the example of spending $576,000 on a home that you keep for 10 years. What Uncle G says is wrong with buying a homeĭissing homeownership is bold coming from a man who made his millions by investing in real estate - but Cardone has his reasons, which he shared in that Instagram post. Whatever the reason, Cardone - who goes by the nickname Uncle G - is on a mission to “change the trajectory.” Here’s what he thinks you should do instead of sinking deep into debt to buy a home. “Is it because the lack of knowledge people have when it comes to financial education? Or is it just because too many people are trying to fulfill their American dream?” “Buying a home without a doubt is the WORST investment people can make, yet it’s also the most common one,” he wrote in an Instagram post earlier this month. ![]() What do Ashton Kutcher and a Nobel Prize-winning economist have in common? An investing app that turns spare change into a diversified portfolio.Owning real estate for passive income is one of the biggest myths in investing - but here is 1 simple way to really make it work.Get in now for strong long-term tailwinds Rich young Americans have lost confidence in the stock market - and are betting on these 3 assets instead.Not if you ask real estate investment guru Grant Cardone. It symbolizes independence, financial security and prosperity - (things we all yearn for) - but is it a dream worth chasing? Homeownership has long been a cornerstone of the American dream.
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