My Brother Almost Got SCREWED By A TikTok Realtor!
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- čas přidán 9. 09. 2024
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I wish I made $6500 a month and wasn't smart enough to know the government took 20% every paycheck.
Join the army
MIL was stating she saw a realtor on tiktok saying you can buy a home in CA for $500/month 😂 Where?!
😂😂the last 5 seconds
The spreadsheet helped alot!
RIP Headphone users 💀
Hahahaha that ending got me
I think the audio spiked a the last 5 seconds 😂
🤣
Do you factor in taxes and homeowner's insurance into these numbers?
Javier I am astounded right now at what I qualify for. 4k monthly payment with 7k after tax income. I think risky lending practices are back and it’s only a matter of time before we have a wave of foreclosures. The people who have bought homes recently are being set up for failure.
the audio at the end .....
Guy says 13,475 "bucks" like its chump change
The mortgage pro is the one who should be running numbers - not an agent EVER. The lender is going to be the one to qualify you and give you the money.
I've seen so many lenders and agents tell buyers 40% gross income for a house is the norm!
This isn't a good idea..
They are promoting, just refinance later.
These home prices are ridiculous tired of this crap
Javier Vidana_______The Man________The Myth________The Legend !!
Man, I wish I had known about your local channel sooner.
Hey bro can you do a video regarding 1099 earners that try to apply for a loan
Why reels? Cuz tiktok is a virus
Javier I enjoy watching your videos for sure. Though I agree with the conservative take on how people shouldn’t max out how much they can qualify for, the reality is that for many people the monthly payments that you recommend they seek out don’t exist anymore in many areas with current prices and rates. That only leaves saving up more money for a bigger down payment which can take more time while interest rates or home prices continue to rise (if not both). I know this isn’t the case for all, but my income has increased since buying my home a few years ago so even though I bought under circumstances that you wouldn’t recommend, it can work out better down the line if other economic factors improve like lowering debt, getting rid of PMI, etc. I’m more of a believer of seizing an opportunity now when it’s presented to you and then making it work. People always have the option of getting a 2nd job, cutting down on expenses, etc. Anyway, just wanted to point out that certain people might be discouraged from buying when watching videos like this when in some cases this may be the only chance they will ever have to buy in their lifetime. Still like you videos and will still keep watching 😆👍
Bro was speaking facts, this is a great channel! When he said Golden jail cell I was like whoa so true. It’s great to get a manageable low payment starting off because most won’t tell you but year to year your mortgage payment could go up depending on how taxes change in that area. Me and wife in the past 2 year of owning a home went from paying a difference of 300$ in our mortgage because taxes went up in our area
My income after taxes is gross 🤮
hey Javier , can you do a video touching on simple interest mortgage loans that accrue daily vs traditional mortgage loans monthly
20 to 25% ?where. I wish
Ok, we all want to know: why not use NET income in the first place?? Is it because fewer people will qualify, hence fewer sales?
Because different people have different tax rates, im assuming.
Because you can do a lot to make your net income less. People can increase their 401k contribution, contribute to HSA plan, increase federal tax deductions, and different state tax. So someone could be making a lot as a gross income, but by choice, they can make their net income super low. That person can technically afford that house if they lower whatever deductions they choose to have.
@carebear01 Exactly!!!
BUY WHAT YOU CAN AFFORD 👏
why does not your brother get with you to get his actual situation... tiktok is a mess.
fire your barber if he the one that gives you that nappy hair
So basically what it comes down to is if you’re making under $60k/year, you’re screwed.
You can never buy a house because you can never “afford it”. Instead just rent forever for a higher payment…
Rent is actually less than owning in most cases
If you assume your only expense is the mortgage and utilities then rent is more expensive.
Its not.
I own, I pay all that, plus extra, plus putting money away for the 15k roof replacement, and the 4 grand I need to drop this year on some plumbing stuff. And the 6 grand we just dropped for a new ac.
My friend bought a condo and she's middle class. I partnered up and we combined to buy a house. Several friends I know paired up with a buddy to do similar.
The world has never been set up on the assumption that it's one guy stoically facing the world.
Prices are likely to level out and you can save for a house if that matters to you, but don't buy a property that you have to do a lot of work and maintenance on just because Graham stephan told you it's a good investment.
You're not screwed you just have to be realistic about your situation and improve it. With 60k a year, rent a 1-bedroom for under 2k a month and invest / build up your nest egg like Javier says you should do. Level up on your income if you don't have a partner. Start a side business that you can run without it interfering too much in your time.
Then when it's time to buy a house, take it a step further and find a property with extra space for an ADU, get it certified and start renting it out so that you cover a portion of your mortgage payments and expenses. And if you don't want to sacrifice anything, well then just stay poor and don't buy a home.