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Half to rent? Where I live a mortgage payment is the roughly same as the rental price. Maybe a few percentage lower than the mortgage (95-98% of a mortgage).
Idk where you live, but, here in Brazil, It was always worth renting, but people still buying, are you sure you did the correct math ?, most people think they did, but they didnt.
I live in rural Ohio so a median home is like 150k it’s amazing
By me, it’s half.
You know what they say in real estate: location, location, location.
The rent where i live is about half
Lmao in our town renting a 2 bed is 1500 a month and us owning our house is 1100 a month for a 3 bed
I think if you try to buy a house now you will see the mortgage is higher, you can’t compare new rent prices with old mortgage rates
Unrealistic. Use todays markets rates on the full price of your home or with 20% down and compare to rental amounts. Rent is 30-50% less
No way in hell 3 bed is 1100 a month. Maybe in northern PA like the poconos or Pottsville area. Rent is cheaper but mortgages are still higher.
@workandplay717 dude my 3 bed 1900sqf mortgage is 860$ in Central VA
I assume you locked in a low rate like Graham. That’s why he isn’t selling.
Yes, renting is cheaper on a month-to-month basis than buying, but that isn’t the entire story.
The biggest reason for me to own is security.
I have a young family, and I don’t want to have to put them through having to move every few years.
I also hope to one day retire, and when that day comes, I also want the security of knowing I have a home that is mine.
He’s also talking about if your buying to rent. Financially it’s not profitable to do that right now
He’s saying rent now and when prices come down buy
@@sirgreenomilla3321 I thought the same at first, but upon rewatching he’s talking from the POV of a tenant: “You could rent the same house for half the price (of a mortgage)…That rent would be so much cheaper than what your mortgage would be”
Yeah just make sure to sell and move that equity before you end up like people with a nice house in Chicago.
love hearing landlords tell people not to buy /s
Never fails 😂
He’s also not wrong at all for many places. In the short term it’s way cheaper to rent than buy.
If interest rates go down, property prices go up. @@MeerkatMatt
Some people like him actually try to give great advice to regular people like us
Yeah I knew he wouldn’t sell, I wouldn’t sell either low rates win. You lose when you sell.
Where was this podcast? I havent seen this biaheza guy for a while now!
“Congratulations, you have been pre-approved for $10k! How many houses do you want to buy?” -I’m maxing myself out!
If you’re not buying you just don’t know how to find good deals, period.
Exactly I just found a 20 acre property with a 13ksq foot home on it for 500k near me
That interest rate will bottom out again.
Exactly. What goes up must come down.
When will it go down tho??
Not 3% bottom out 😂 that will never happen again
If you buy rental units in cash you don’t have that problem
The greatest transfer of wealth from young to old that has ever transpired in this country.
Reminder, we are not Graham. To take advice from Graham is to be a millionaire.
Lol not selling property because you have a low interest rate on it is such a stupidly bizarre reason
Wrong rent is more expensive than most mortgage payments
no, you are wrong
He’s not wrong. Anything purchased with like 20% down and a 7% interest rate will need exorbitant rental rates to cover the mortgage. All the rentals on the market were purchased with 2.5% interest rates. My mortgage is about 5k a month, but the rentals of the same size go for 3k or so
“Once in a lifetime”. Great news for me as Gen Z. Just wonderful.
Golden handcuffs.
If rent is so low then property investment is not a good deal. Even if you had a 2.8% interest mortgage. He is kind of stuck with a bunch of properties as he has very little equity in them.
i ended up buying the house i had been renting for 10 years. the first year my mortgage was less than the rent i was paying. immediately the taxes and insurance went up, and now i’m paying a few hundred more than i was renting for and it looks to keep going up each year just because of escrow.
Let’s say you rent for 10 years.. that money is gone. A mortgage for 10 years gains you equity. Don’t listen to these property managers who wants you to keep renting so he can buy the property and make a profit off of you.