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You Need to Buy a Home, Renting is Expensive!
The narrative that “renting and investing the difference” is always better than home ownership is oversimplified and problematic. Ramit Sethi (Author, millionaire, and financial influencer) has been on a personal crusade to encourage a generation to live as perpetual renters. Why? He is a fervent believer that most people will get rich doing this. Unfortunately, he misses the mark. Let’s break it down. Return on Investments from Renting and Owning Owning a home isn’t just about the monetary Return on Investment (ROI). It’s about having a space that’s truly yours, a sanctuary where memories are made. This intangible value is irreplaceable and can’t be measured solely in financial terms. While…
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Understanding the Necessity of Ownership in real life
Today we discuss the topic of black homeownership. We derived the conversation from a relator article breakdown of homeownership amongst different races and what the numbers mean for black communities moving forward.
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The Rise of the Slumlord First Time Real Estate Investor
With all the wealth building conversation centered around Real Estate Investing, the Financial Griot podcast tackles how not to be a Slumlord RE investor. Lawrence shares his journey to becoming a first-time real estate investor. His approach to investing in real estate; location, opportunity, and intentionally building wealth. Thinking ahead and investing for the future and the next generation; with the right level of help.
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A Financial Advisor said Renting is Better but He Owns his Home?
A Former Financial Advisor told you that renting is better than owning a home… But He owns a home though? Please Make it Make Cents!
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The Value of Our Priorities: Renting vs Ownership
Renting vs Ownership as the new American Dream. It all comes down to valuing your own priorities. Home Ownership is still a wealth builder.
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How to Pay Off Three Mortgages Before Retirement
Details on how this couple plans to pay off three mortgages by retirement, while others are paying 40-years of home loans.
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Sharing Secrets on How We Bought Four Properties in 2.5 Years
Becoming A Home Owner And Helping My Friend Buy A Home Too – 2 Homes and 2 Rental Properties Renting vs. Home Ownership Back in the day when Facebook didn’t own Instagram, and when Amazon was still crushing Mom and Pop shops around America through low dollar-cost averaging and automation (circa 2015), I was a renter. Like a lot of other people, I had no clue about home-ownership. Besides the headlines on social media and the #cancel culture outrage, I didn’t do any research. When I asked around (through FB post), I was simply asking my peer group of non-homeowners and lifestyle credit card spenders. Homes cost too much, I’m waiting for the Next…
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How to Find an Affordable Home – Four Expert Methods that You Can Use
There’s more to buying a home than the selling price and interest rate. You can expect to pay anywhere from 2% to 5% of the purchase price in closing costs. For this reason, buying a home is not a very good short-term investment. Common closing costs (which will pop out of nowhere) include application fee ($$$), appraisal fee ($500+), attorney fees (if you need it), property taxes (because Uncle Sam and the Cheetoh), mortgage insurance (cuz we can't have nice things), home inspection ($250+), first year homeowner’s insurance premium (making it rain), title search ($$), title insurance, points (prepaid interest), origination fee, recording fees and survey fee. Just throw about…
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How to Buy Your First Affordable Home or Condo in Your 30s
Welp, I’m 30 plus. The plus part doesn’t matter because the next milestone is either crippling depression, also known as a midlife crisis or 50 years old. Yep, it doesn’t get any prettier. After searching the internet for information (Google), reading 1 article, and skimming through 5 other headlines; I am now a faux expert. “Self-Made Millionaire: Not buying a home is the single biggest millennial mistake”, in which David Bach is quoted saying that the biggest single mistake millennials are making is not prioritizing homeownership. “If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none”. In all seriousness, I always recommend that you do your…
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Critical Tips and Tricks That You Need to Know Before Buying a Home
When I bought my first home/condo in late October 2016, once the paperwork was signed and the keys were rendered to me, I sat on the floor and thanked God for that moment. I also proceeded to play ratchet music for the next hour. By November 2016, the 2nd-floor pipe froze and voila rain forest in the living room. I actually laughed. I wasn’t even in town so I figured that I rather go to sleep and handle it in the morning. For one, the floor was eventually replaced and the drywall was painted over once the home dried; I walked away with an important lesson. “Nothing Works All The Time…”…
