How to become a Millionaire in 5 years

[313Tabasco]

The way to truely become a networth millionaire with realestate is to frist become debt free, have an emergency fund of 6 months household expences, paycash for real estate ( a much cheaper home but paied for) and have an emergency fund for repairs and reckless tenents. than when you have the cash for another one buy one. If houseing prices drop who cares your not selling your renting.

[NW0arescum]

1. have no morals nor ethics and-or merely ignore the fact of where all your monies come from at some point

2. pretend that exploitation of nature isn't a pre-requisite to generation of wealth

3. pretend that richness doesn't depend on slave labour and shit wages in many countries your mentality condescendingly refers to as 'developing'

4. invest in banks etc that generate large interest - from funding and lending in aforementioned exploiting and armaments

5. push ahead with your plans

[joshhudson10]

and massive mortgage repayments that rental return doens't fully cover... so sit back, relax and enjoy losing $1000/wk in negative cashflow, while working your arse off to try and get enough to pay for the weekly groceries in the hope that real estate prices increase.

[schoebz]

Haha this is how America became in debt. So now you own 5 homes at 200k a piece. The story should be how to be 1 million dollars in debt in 5 years. You don't own those houses the bank does

[diginut96]

But doesn't that heavily mortgage your properties into massieve debt

[alisonspearl]

What equity? Property values are still going down in most of the US.

[Therippleaffect]

i did that i was up to 7 houses then i got married. Then i got divorced can you guess how many i have now? 1 pre nup people prenup

[Kevin323gaw]

@Therippleaffect wow are u fuken sirouslyman?>

[Therippleaffect]

@Kevin323gaw sure am. unfortunately i had to force sell so lost a lot of money on a few houses as it was a bad time to sell. Realestate agents fees of 7000 per house lawyer fees court fees custody. Not much left then had to go 50/50 i was able to keep my original house and it is fully paid off. But i was basically retired and it really sucks to have to start again.

[Kevin323gaw]

@Therippleaffect i'm sure u'll become wealthy again, than let me have some :P!!

[AssistingHealth]

this is a very easy way to make money. requiring credit/background checks is a common practice and typically ensures that a fairly small percentage--if any--will end up doing significant property damage or causing legal fees. real estate is also (on average) the most reliable way to make money. land and houses don't poof... but companies (stocks) file for bankruptcy all the time.

if all else fails... charge cheaper rent! in time you'll pay off your loads and own them all. patience, patience.

[AssistingHealth]

@AssistingHealth so, in 10 years if you keep re-investing your rent... you could easily own, say... 5 cheap properties. at that point, hire a renting management team that takes a % of the rent off the top and ENSURES a profit (do a background check on the company first, of course) taxes are based on the VALUE of the house... meaning, once you own it, if the taxes cost too much you are GUARANTEED to get back almost 100 times the taxes for that year.

[felixbossuyt24]

I am a millionair

[Chazton1]

Is anyone having trouble selling there home right now? I live in Austin, Texas and Im finding it hard to sell. Is anyone else having this same problem?

[1Shalnark1]

That's great, now how to get the money to buy 1 home.

[MZLEXN7]

@1Shalnark1 roll a bank lmao

anything that is easy but will get money

unless go work at macdonalds lol

[theredscourge]

@1Shalnark1 Work for ten years, save the money you or your friends would normally would spend on pussy and beer, invest it in 3-4 different index fund ETFs until you have enough for a 15-25% down payment. If you have any extra left over, use it to renovate the place a bit, and don't cheap out on the photos or advertising.

Fact: Eating at restaurants and going to events and concerts on a low wage eats up A LOT of money you could be saving up and multiplying for more enjoyment in the future.

[bigbobabc123]

@theredscourge whatever you do you are still in huge debt LOL

[cesedebe]

@1Shalnark1 Good question. I have another question, isn't a relatively high income required inorder for the banks to lend you money?

[silviom1966]

this is why USA is bankrupt, go to Canada to learn a better way........... USA in caput bankrupt........not your fauly you are a stupid society

[theredscourge]

@silviom1966 actually IQ scores are about equal between the two countries, the problem is they have really messed up regulations because their government is somewhat more corrupt and thus is more vulnerable to lobby groups putting in overly complicated legislation that causes unpredictable problems.

Canada is not much better, it simply did not have such a housing bubble because a few of its banking regulations just happened to be better. However, Canada's GDP is still lower than the US.

[xfireball929x]

Im buttsore

[nperrigo2]

THANK YOU SO MUCH FOR THIS WONDERFUL ADVICE!

[vatodeth]

Don't forget to add in property tax, repairs, etc., the possibility of tenants who don't pay and vacancy. If you buy in at the wrong time (like a housing bubble) you will end up subsidizing your tenants rent. Real Estate is only one type of investing. Always diversify your portfolio!

[rufuguru]

@vatodeth Well, it's virtually applicable to any type of investment.

[TheTrueJBV3737]

What a horrible investment, rofl. anyone even research the housing bubble?

Buy gold and silver fucking morons.

[nationalmoney]

this guy is speculative at best , not many properties have enough growth to accomadate this strategy let alone cash flow to service mortgages ect. its what i would call a pipe dream or selling the sizzle with out the sausage. buyer be ware i think it goes ??

[ToXiCpImPz]

this is retarded im 16 years old and can't do any of this. any otherr ways?

[fyer1pyro]

@ToXiCpImPz you can start when you turn 18! Right now you should just start learning as much as you can about buying houses, fixing them up, and how to get a good credit score fast when you turn 18. I'm 22 and bought my first house for 16,000.00; I paid 5,000.00 of it off right away with down payment. I owe 9,000.00 currently, and I am getting ready to buy my second house this summer or fall. I already planned to do that in my own thinking and planning, and finding this video just now reconfirms

[Adibenedetto92]

@fyer1pyro That's a great plan and all, but before you get into larger debt with the second home, pay off the first one, first.

[barrettlewismitsi]

Lol. Everyone keeps saying the housing prices have to go up for this to make sense. This has nothing to do with capital gains on the house, this is about getting and increasing the number of renters paying you equity, and hopefully cashflow. In fact low housing prices and more people leasing makes it work better.

[paradigmentropy]

Housing prices are going to keep trending downward until the real estate bubble is finished deflating, which won't happen until the markets have been given time to correct themselves at a non-zero interest rate from the Fed.

[stormspottter]

wouldn't those be liabilities since you have to pay property taxes on those and taxes could cost more than the house going up in value, especially in this economy.

[Ianjcarroll]

dont think this plan is going to bring much cash your way any time soon.  maybe in the next 10 years or so. lol

[tanmopr]

mmm... yeah, this only works if the prices of houses keep on going up...

[sysopkc]

@tanmopr Hahahahaha yeah good observation.....Its a bit moronic to make all these valuation assumptions...

[tarciramahin]

Holla! Have you ever tried the Intellitus Cash System (do a google search)? Ive heard some incredible things about it and my sister made tons of money.

[MrSarwartushar007]

Holla! Have you heard about the Intellitus Cash System (just google it)? Ive heard some extraordinary things about it and my cooworker earned a lot of dough.

[mranajnu]

Hi hi! Have you considered the Intellitus Cash System (google it)? Ive heard some awesome things about it and my work buddy got a lot of dough.

[Pepperz714]

lol the exact plan that caused the recession

[serdasimus]

@Pepperz714 no my man, that has nothing to do with your recession. Recession was caused by Mr. X and his wife who had a 60k income total who bought two house because they were pay the same as buying one house back in 1990. 2k per month. So they were okay with pay 1k per house and thought they could live in one pay for it while renting the second one until they were able to sale it. Unfortunate part was their interest rate was not fixed now was it? so when Ms. X lost her job,

[serdasimus]

@Pepperz714 Part 2: Mr x had to not only take care of missyX but also the property her income was supposed to pay. Cant do that now can he? so he defaulted on his payment, and guess what? Jimmy who rented from them lost his job to but of course the goverment won't just ask jimmy to leave the house so mr x can find someone else it rent it to. So not only investment 2 is not paying for itself, utilities are being used and billed to mr x.

[serdasimus]

@Pepperz714 part 3: finally, jimmy is out, so mr x is ready to find someone else to live in the house, even at half price, no one would come because everyone lost their jobs. everyone is trying to save the little they have because the outlook at the end of the tunnel seem grim at best. Cant pay for two places, mr x call the bank, well what other options do i have? you can take it and sell it. I will keep house1. but the bank cant sell for par value because inv2 has depreciated. 50% less

[manictiger]

@Pepperz714

Not quite.

Sub-prime mortgages caused it. There's a very nice video of it here:

/watch?v=bx_LWm6_6tA

[globalfinanceschool]

What a striking title! Everyone loves that!

[Backtalk2u]

Only problem is housing prices are falling and people are not paying their rent, when forced to evict they trash the place.

Got to run this program under a growing economy

[Strafingx44]

@Backtalk2u its something your going to have to deal with

[royalboaz]

hi all am from london thats exactly how it works..i,ve carried out this operation not exactly the way this vid shows but basically the same..left school at 16 with no education by 25 i owed my first home by 30 i owed 3 by 35 i owed 9 and at the age of 40 i own 17 i sold 5 and became a cash millionaire with 12 more units still under my belt..wealth is not just in the uk or usa open your eyes people look abroad thats where you make the big notes..abroad i own well lets leave it like that

[smithkerb1]

@royalboaz hey mate would be interested to know a little more about what u have achieved and how if u can afford the time it would be interesting cheers

[frea1able]

awesome video, real estate is the way to go!

[ricktbdgc]

he forgot to mention a few things, location is one of them.. this wont work in parts of the world but will in other parts, i wont tell you where because I know the best places

[m3ekag]

This works but you need patience, like 20-30 years and not be under money pressure, at the moment values are falling so it could be a good time to pick a bottom to pick up reasonable priced properties but unless you are a hard nosed business type you could go broke very quickly while your properties sit empty waiting for tennants.

[johnadamsyt]

Question: What happens when the property market value drops instead of rising as described in this video?

[TheCruzinhas]

I am sure you live in a trailer by now.

[AidansGituar]

how to become rich.

1: Get a guitar

2:learn rock

3:shread the guitar like theres no tomorrow.

4:Boom. someone signs you and your rich

[CoDisafishy]

@AidansGituar That's not how it works these days, all you have to do is dress like an idiot and not even be able to sing (there are machines for that), then you go sell out and make garbage music while making a ton of money.

[AidansGituar]

@CoDisafishy That's are shame

[dantean]

Simple. Thanks.

[TheIvomendonca]

lol

[Slacking02]

i just did this 6 years a go and im still not a millionaire

[CoDisafishy]

@Slacking02 Are you at least doing well?

[Slacking02]

@CoDisafishy lol i was just trolling...

but i am doing well!

[buytoletlandlord]

property investment on steroids

[MohamedAlhashemi]

This video was so helpful, but to start up it takes a lot of time, pressure, and patience.

[nnial]

it will only work assuming house prices kept going up....but that's not always the case...so when house prices tumbles...you're left with negative equity. What is ur exit strategy?

[kazalmahmood]

Hello there! Have you considered the intellectus money maker (search on google)? Ive heard some incredible things about it and my buddy made crazy amounts of money it.

[Stagtatstic]

@kazalmahmood ITS A LOAD OF SHIT

[gofuckyourselfaiight]

then the bubble burst and all your equity shrinks by 50% putting you in massive debt

[Truther271]

@gofuckyourselfaiight looooool so true

[happymom2day]

Why be rich? Is this your goal in life? It will never satisfy.

[trustfund82]

@happymom2day Better than being broke and having creditors knocking on your day every week. You are right though, if that's your only goal you'll only find yourself running in circles. But it's possible to be rich and satisfied

[rdo11able]

How to become a Millionaire in 5 years....Buy my Ebook for $3000 and I tell you

[MEANER53]

I will sue you if I don't become rich in 5 years.

[Burning0Lilac]

@MEANER53 but then youll be rich and can't sue him OoO

[manictiger]

@Burning0Lilac

So then he'll have to give the money back because he was rich in 5 years, then take it back because he wasn't rich in 5 years, then give it back because he was and then...

[MerckinMuzic]

@MEANER53 u gota have some money to sue

[mrv3rb]

@MEANER53 I love it.... ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ah hah ha ah ah aha ha ha ha ah fukn great.

[20PkA]

@MEANER53 lol

[shakaama]

a couple of things

All of this depends on the market going up, or you paying more than your mortgage is geared for, i.e. your payments should be $800 a month, but you go ahead and send in $500 bi-monthly. This will create some aggressive equity. Barring that, the U.S. economy is set for another correction in the housing market, i.e. houses are going down, which means people will owe more than the house is worth. but what was the 2nd thing you said after interest only loan? I can't hear it.

[hazmatac]

@SickSense0Humor Do what you can to be rich now.. but if that doesn't end up happening at least do what it takes to be rich in 5 yrs. Better than never.

[bobadamsgip]

Equity is the difference between the mortgage of your home & what the property is worth today!!!

[cpmc1]

What is equity?

[Johnf85]

finally someone who tells it straight

[ricesniper]

Or just flip some real estate, can become a millionaire in less than 6 months