Obviously I didn’t read the book I’m going off the social media post and asked a question.If you have read the books and understand why he says houses aren't investments, then feel free to listen to Coli dudes
Brass Knuckle Finance (How to get out of debt, invest your money, and start a business)
- Thread starter Responsible Allen Iverson
- Start date
If you want to understand and discuss his books and media posts, then you really need to read the books. The author explains why even if your house appreciates in price, it may not be a good "investment" for you. Just because a lot of dudes here feel some way about buying a house doesn't mean they're giving good advice.
The house you live in isn't really making you money it's costing you money. That makes it more of a liability than anything. With investments you spend money or put it into a place where it makes you money.
Over time you'll likely sell the house for more than you paid for it but you probably all things considered aren't coming out ahead on the transaction. Over the course of your home ownership long term there's a good chance you'll have paid more into the home than you got back if you lived there long term.
@Thegospel
This is an example of what people in this thread are saying vs. other threads you may have seen on the site before
People often oversimplify the home owning process and are not being honest about the amount of money owning a house costs. Never as simple as buy for $100k and sell for $200k
This is an example of what people in this thread are saying vs. other threads you may have seen on the site before
People often oversimplify the home owning process and are not being honest about the amount of money owning a house costs. Never as simple as buy for $100k and sell for $200k
I just received the first book in the mail. Even though it costs a little more, I'd rather have a physical copy on hand than just a pdf. So, I'm gonna start off with this one and then move on to the other books.
posterchild336
Superstar
nah breh, who owns houses for 30 years, i have made double my money on property in less than 4 years, hence investors...real estate is the best investment i have made in my life, i have been able to walk away with a check more than people make in 10 years because of it, do not bring this chart and downplay real estate with the cost of 30 year ownership of a house
your house CAN be an investment, if you are an investor and buying to hold and sell it is very profitable, i have a friend that makes millions a year by just doing this and he just got into the game about 4 years ago
If you pay $100k cash it is.
I didn’t buy my house to be an investment, I bought it for stability. My Costs are fixed and low for the most part and allows for development of long term strategy.
Also, when I did run into issues (no income), I had way more options than if I had been renting. I was able to stay in my home for well over a year without a mortgage payment.
Also, when I did run into issues (no income), I had way more options than if I had been renting. I was able to stay in my home for well over a year without a mortgage payment.
CinnaSlim
Queen of Swords
I have most of his ebooks. I fell off but I got a chance to do over so let's see if I do it right this time.
Goal is to to pay off $7k in consumer debt. Definitely, not the worst position but I started off with no debt.
Goal is to to pay off $7k in consumer debt. Definitely, not the worst position but I started off with no debt.
Dolla$
Minus the bullsh*t...life's great
Yea i don’t agree with everything he posts
From those post it seems like he prefers renting over home ownership. Long term home ownership is gonna typically be better and have a better return on what you're paying. Maybe he says that in his books.
