Rumble_Finance

24 months ago, I began looking for an income property around the mid-city area of Los Angeles. I liked this area in particular because it was close to nearby transit, surrounded by several large new developments, it was only a 15 minute drive away from the beach…and most importantly, it was one of the few areas in Los Angeles where property prices were still selling under $1 million dollars. After 6 months of searching, writing offers, getting out bid, and otherwise not finding a single opportunity - the perfect spot came up. And the price? Listed for…$585,000. So I made them an immediate offer: I’ll pay full price, guaranteed to close…under the condition, that the owner accepts it immediately. I bought it for $585,000…I put $150,000 as a down payment, and I got a loan for $438,000 to cover the rest. Then, I spent another 2 months, and roughly $80,000 fixing it up. This meant, when I was finished, I had invested a total of 2 months worth of time, and $230,000 into a property. So I went to the bank, and I told them I wanted to do what’s called a REFINANCE. This is when the bank will give you a new loan on the property, based on the CURRENT value of what it’s worth - NOT what you paid for it. And the market value was very favorable to me…an appraiser determined the market value of my property, for a remodeled 1920’s Spanish duplex, was now $780,000, just shortly after I bought it. So given the new value, the bank is able to give me a mortgage of up to $585,000, and give me back $145,000 in cash. My current mortgage is $438,000 The bank’s NEW loan is $585,000 The new loan pays off the old one, and that leaves us with $145,000 left over after paying some transaction fees. That was in 2017. NOW…I can do it again. I went from bank, to bank, to bank…to get a quote on a new mortgage. I was able to get at 3.75% fixed rate mortgage for 30 years, on a cash out refinance. The bank appraised it for $965,000. And given the new $965,000 value, I was allowed a $675,000 mortgage - leaving 30% worth of equity still in the property. That meant…after all was said and done…not only do I have $290,000 worth of equity in the property…but I now SAVE an extra $200 per month on my mortgage interest payments, and I got back ALL of the $230,000 I invested, leaving a total out of pocket cost, to buy this property, of $0 Like I said, the first refinance got me back $145,000…and the second got me back $85,000. That was everything I had invested in this property…and it’s basically free real estate. In real estate, your ideal situation is that you can control 100% of an income-generating asset…by having as LITTLE of your own money invested in it, as well. This gives you the opportunity to INVEST your money in other, higher generating opportunities - than keeping your money tied up in an asset where it isn’t actively working for you. This is the name of the game in real estate…it’s to find a good deal, put your money in, make it work for you, refinance your money back out, keep the property…then go and use that money to do it again. And it’s by doing that, over and over and over again, that you can soon build up an empire of real estate, for free, by just…smashing the like button.

Alexander Kearns committed suicide after Robinhood displayed a cash balance of over -$730,000. A lot of people and articles don't seem to understand why, so here I crunch the numbers on why this balance was likely displayed.

Learn exactly how Grant Cardone and Cardone Capital earn money and why the real estate syndication model of Cardone Capital is an absolutely BRILLIANT money maker. **Comment below: Did you know how the model worked before this video?** Either way, learn exactly what is meant when Grant Cardone talks about owning 4,000 units, what it means to have a fund, what the fees are associated with Grant’s managing of the investments, and the major profit center that is “having an exit-strategy” really is. Watch to the end for an example of how YOU can also make money in real estate.

How I bought a Tesla for $78 Per Month

President Obama promotes the myth that everyone must go to college. That if you don't go, your life will be ruined -- that you will end up waiting tables, or trapped in some other mundane occupation. The truth is, even with a college degree, you may still end up waiting tables, you'll just begin your "career" four or five years later, tens of thousands of dollars in debt. Here is an example of some of the plumb jobs college grads were able to land during the Obama administration. Not just liberal arts majors mind you, but graduates with degrees in mathematics, robotics, neuroscience, engineering, accounting, business administration, economics, biology, communications, graphic design, marketing, and linguistics. Of course when it comes to education, it's not just the Obama administration that deserves a failing grade. For years, politicians of both parties have pandered to students by promising more aid in the form of direct or subsidized student loans. As a result, colleges and universities are freed from competitive forces that would otherwise keep tuition low. Easy access to cheap credit enables students to bid up tuition, benefiting the educational establishment at their expense. Politicians secure student's votes by promising relief from skyrocketing tuition by providing even more loans. Ironically, the loans themselves are the very reason tuition is so high in the first place. Before the Federal Government got involved, college degrees were much more affordable, and ambitious students from poorer families could easily work their way through. In addition, as fewer high school graduates actually went on to college, not only were college degrees much less expensive to obtain, they were far more valuable to have. With so many high school grads now going on to college, a college degree is actually less valuable in today's job market, despite its inflated price tag, than was a high school diploma in the 1950s. The only solution is to get the Federal Government completely out of higher education, and let the free market fix what the government broke! For those of you who feel a college degree is essential to financial success consider John D Rockefeller, Andrew Carnegie and Cornelius Vanderbilt. Rockefeller dropped out of high school and began working full-time at age 16. Carnegie didn't even go to high school and began working full-time at age 13. Vanderbilt dropped out of school at age 11, and by age 16 had started his own ferry business. All three were born poor and became self-made billionaires, who attained estimated net worths (in today's dollars) of approximately $670, $300. and $175 billion respectively. To put those numbers into perspective, the richest living American, Bill Gates, who dropped out of Harvard during his sophomore year, has an estimated net worth of just $65 billion.

The CPI is no longer a tool to accurately measure inflation, but an instrument of propaganda the government uses to hide accelerating inflation from the public and financial markets. Modest CPI increases over the past several years do not reflect an absence of inflation, but a design flaw in the index that fails to fully capture the magnitude of price increases. Central bankers drawing economic conclusions regarding inflation and monetary policy based on this highly flawed data point are making a major policy error. Note: Prices for the twenty items in our basket rose 44.3% during a ten-year period despite an official rise in the CPI of just 27.5% during the same time frame. But that is using official government numbers to evidence those price increases. However, judging by the inaccuracy of government numbers on other items, such as newspapers and health insurance, the actual rate of increase of the prices of the goods in our basket was likely much higher than what the government claimed!

Walmart touts "Everyday Low Prices," but we asked its customers to support 'Everyday High Wages" instead. We posed as representatives of "15 for 15," a make-believe organization advocating that Walmart raise prices by 15% and use the extra cash to pay its low-skilled workers $15 per hour. The surcharge would be added to customer's bills at checkout, just like a gratuity at a restaurant. Not surprisingly few shoppers supported our cause. Even those who felt Walmart workers should be paid more did not want to pay higher prices themselves to make it possible. Those demanding higher wages for Walmart's workers should consider the importance of low prices to Walmart's customers.

Peter Schiff on MSNBC w/ Chris Hayes 6/9/2012

Peter Schiff on Fareed Zakaria's Global Public Square - July 1st, 2012 Other Interviewers: Jeffery Sachs - economist who serves as director of Columbia University's Earth Institute Vanden Heuvel - editor and publisher of The Nation magazine Peter Orszag - first budget director for President Obama, now Vice Chairman of Global Banking of Citigroup and columnist for Bloomberg

Lets talk about the holy grail of business, investing, and financial independence: How To Make Passive Income With $1000.