SHOULD YOU START A BUSINESS OR BUY A HOUSE FIRST (PART 2)

Video Statistics and Information

Video
Captions Word Cloud
Reddit Comments
Captions
in this video we have part two of our business versus real estate where should you put your money should you buy your own house or should you start your own business check this video out we have card these super super super super smart the real estate guy enjoy the rest of the video okay guys you're in for a beat again we have card do you know him it's the expert in real estate man fern I have a video that I posted a couple of days ago with Schatzi Schatzi Schatzi a very very entrepreneurial way on our we had the discussion whether you're starting out should you buy a house together handovers in starting your own business having a good return I'm sorry when is this gonna same but if you start to buy your own house you're putting in a lot of money that was that money side PD making making money for you what should you prioritize should you buy your own house condo when I say buy your own house and condo this is something it won't be your investment TP Rahad moshe you're gonna live in it it's not gonna produce income for you so the question is what will you prioritize first buy your own house spending millions on it or putting in money to start your own business go business definitely say if you're going to buy a house that you're not going to be living in it's not gonna make money for you I know a lot of people especially people in in real estate will say that the house is an asset and in paper yes it is and it can grow up in value but the thing is you cannot sell it and you cannot make money from it if you're gonna live in it you cannot definitely rent it out well that's when you have a business that is running or that you're going to be putting money and that you know will work that's gonna be generating money for you alright now since you're the real estate expert I want to know your stance and all of this and then I want to know also is it valiant should you actually start a business or but there might be some case also that there will be people who should buy real estate first natira and in the process getting their own business alright so just to answer no overlap apartment so you know III heard Chauncey's video and I'm as he shines here that if you put your money into a business and it works and it grows and it makes money you can use the proceeds to buy your house nearby so what I'm gonna share is that a right or wrong answer node may be a different type of scenario so let's just say that this person person let's call him Peter let's say C Peter a okay nominal income net mirrors and good income maybe from corporate membership corporate job marriage corporate job and income generation family and I shall enough Russian wife that is requesting that daddy can you give us our own place I say our current house is not working for us idea manoharan booty said Medusa and the wife is requesting honey husband please buy our own house now we want something to never see a tone I drove up in a place in the grandma Minamata girl now I want a home please if that is your scene are you like like Peter and then by all means use whatever funds you have to buy your primary home yeah ba it says in my toxic iOS I I say also that the primary home is your desk investment take for example we have a client Rajas bought in a green hills house in lot 1979 for 1 million pesos so a few years ago for 150 million pesos so that's 1979 he recently so that's how many years maybe 30-plus years about but it doesn't matter how long it the point here is at the time that they're about to retire they had 150 million cash liquid who enjoyed the golden years the biggest argument is a bit mean buy your own house is anthem what are the determinants all right you type with Annabeth at 150 middle what did they do they bought something also that was also priced higher how did it go for them to money ok if you sold your house for 150 million that you bought for 1 million then he said it's a lot of a long way to go man I'm become a guy go with your 150 million you can choose to buy a condo that's 35 40 million downsize F 100 million in the bath earning 4% and that you consume only the 4% man so I'm damn Metallica macaca wah and this is just one piece of property not five not ten or twenty a green hills house and lot bought for 1 million in 1976 ok no use here's a question of a lot of people what little in 1976 that's a lot of that's in a lot of money but yeah it's a large about the money to me 2020 if you say spend this amount of money for real estate why are the biggest argument the money is it might not might not perform as well for the fifth year seventh year whereas if I started in a business the business might infer me and then it will compensate for the recent I'm thinking I think might be the challenge telega here is it's not just a financial thing in buying your primary home are buying a primary home okay from a business point of view of course if the business is doing well 30% 40% return year-on-year it's gonna do so much better than your primary home nearby in terms of actual cash on hand so I'm saying that chance is really correct or now if you have an opportunity for a business go for it but if that is not your case and a primary home is more of a concern for you what more what am i annoying opinion primary home because that can also be your retirement nest egg after 30 40 50 years but ultimately what is a primary home give you a primary home that you you own you acquire will give your family a whole lot of security a whole lot of peace where in your house is very permanent it's you're gonna spend money to decorate it to put the right fixture Schiphol granted if I miss a high-energy fungus or sandy bay and everything is just so temporary but if you eventually buy your primary goal it's gonna give your family a lot of security and I think I speak on behalf of those who experience being in a rental growing up if I you know how it feels asana daddy got me up we are in our own home but in the coming in a threatened and landlord I mean becoming uncertain we have that peace of mind so cigarette to summarize it's a case suitcase scenario if if it's if you really have a fantastic business idea and it could make money the next three four years I think you can delay by in your house to capture this opportunity if the opportunity is not so sure not so certain and your family is really asking you for their primary goal then maybe you can think can I pass up on this primary I own this business opportunity and give my family a house the muna for now and then in my next extra money I go for business at least stable number nine family for the next twenty thirty forty years so it's really add everything perspective no right or wrong and you nailed it already this is what I wanted to drive a sobby sobby mode that not everyone also and start their own businesses so do you what's your suggestion for people who like for trouble my wife my gosh have benefited from business I've been telling her for the longest time Melissa Scott I heard of Melissa says she wants to be where she is right now it so then on what do you tell people that they just want to be employees that is the best thing for them to just buy property says they'll never go into their own system and you know I'm working for a other land for fifteen years ago you see a lot of people who have really established their life working in corporate you need a monocular bug in business man and I agree to that I'm not a businessman so if you could like hustle guys I don't have any businesses now so my advice is you know be in your zone if you're a corporate guy you like to play with other people's money because you're too conservative but I really want PR then by all means you don't have to wear the other people's shoes to buy so just analyze yourself poop on corporate guy if you're a banker and I tell you if you're in your zone that would be the most peaceful happiest work-life scenario for you well would you say that when you're in the business of all there's a big chance customer when I appear or that could have been a place already we're about nearly two million come III didn't come in for me to go potty went up and down knew it for a place that you would want to need to get whereas if you start your own business it can also go to zero all right so there's their spirit there's merit also for you starting your just buying a proper houses where you can live yeah so it really depends on your personality if you're a business person and the idea is really solid you don't I begin more and you don't have an idea what's the business all about and he's promising you 2030 prescient written you think twice and analyze not all that glitters is glittery will end with this when should they know that this is the time for them to get their own house already what's a signal what's what's a way for them to to know it okay when your income stream is pretty stable their income is stable you're covering for your day-to-day monthly expenses and men often a surplus and manoharan assay for an emergency fund and their major portable can in your financial situation you can now say honey let's buy our own house okay it doesn't have to be you when you say there there's a buffer then I said in a previous video that the best place the sweet spot is 50% lower 50s from a store appoint a primary home buyer that's a good question it's a very of course the lesser you loan the better is from a non risk point of view no but should you what should you need to learn 60% 70% ok London as long as you've computed the amount monthly you've computed your double income you're ok with it diamo you've completed expenses for college high school and all and may surpass capital again then it's okay to go for a bigger loan amount you can even go 15 years all the way to 20 years is it primary home in a mine my point is community can be Billy at mcgahren car it 15 years 20 years to paid in the menu rental money you might as well take out a loan and then they use their rental money to pay yourself delaying so that's currently nice that you talking about the valued amount of investing in real estate specialist Amy it also answer this body CCD case to case depending on your situation so we're gonna talk to more people covered you know if you're enjoying this comment if you're even business or comment if your team real estate and then we're just gonna make more so that you hear different opinions from a lot of people as well if you're enjoying this topic comment I'm learning that's one number two if you want more of currently comment I want cars do now as well how animal talk never done without me and then third is currently has a podcast you know so I have a podcast coming and I have some YouTube videos coming and but the most meat meaty of all is my private coaching so if you're in the situation where you're in between Forex on the road you wanna know how to how to assess and how to strategize just message me in my private coaching link without which are we will put here and then if we get a chance to really discuss my case ok see trying to seek a curly always puts a link I did always see the link if I forget or the link will be the link will be there but guys one of the best real estate super-super not just the best super yaman person only one have any problem with the bus now might be good but if this video added so much value to you would super appreciate it if you could like it put a comment below and if you're new to this channel please subscribe and hit the bell so that you get updated with a lot of content like the label the goal is to flood YouTube with a lot of information so you're not just entertained but you also get as much information or that will help you can say alright that's what we'll take it to the next level learn learn learn learn then you execute off of that so Marvin you're more with priority property who resort with you helps you Tazewell treats from trade smart see all I get sued by
Info
Channel: Marvin Germo
Views: 13,280
Rating: 4.9805355 out of 5
Keywords: SHOULD YOU START A BUSINESS OR BUY A HOUSE FIRST, should you start your own business, should you buy a house, house vs business, where should you invest in the philppines, where should you put your money, marvin germo, stock smarts, stock investing made easy, investing in real estate, investing in the philippines, how to be rich in the philippines, investing expert philippines, how to make money, how to grow money in the philippines, real estate in the philippines, carl dy
Id: 9zLIoU--Jno
Channel Id: undefined
Length: 13min 23sec (803 seconds)
Published: Thu Jan 23 2020
Related Videos
Note
Please note that this website is currently a work in progress! Lots of interesting data and statistics to come.