1. sampor Said,

   whatt???
   whatt???

2. niquolleannjie Said,

   Hi,

   Thanks for …
   Hi,

   Thanks for this Video. It is very informative. This reminds me of another YouTube Video that’s helpful in Youtube audiences and on Real Estate arena.

   Check this on YouTube: “How to Find Buyers & Sellers on the Internet” from Wendy Patton’s Bootcamp

   Kudos to you guys!

3. LaneRealEstateTeam Said,

   Very cool and very …
   Very cool and very informative!

4. ifc6969 Said,

   When we bought our …
   When we bought our house in 2005 we received a pamphlet that listed various home upgrades and your expected return should you sell the house. Every single upgrade had a return of less than 100%. It then baffled me that you could somehow buy a house, make some repairs, and then sell it at a decent profit. Sure I could have made money taking that approach, but I didn’t want to be that guy holding on to multiple mortgages with no buyers in sight.

5. sjls Said,

   Very good info. …
   Very good info. Right on Target!

6. flagship21 Said,

   ya I agree with you …
   ya I agree with you agents in toronto are sales people and probably never invested in real estate. Its all show and deception

7. flagship21 Said,

   how about living at …
   how about living at home ???

8. 420canada247 Said,

   I LOVE this vblog. …
   I LOVE this vblog.

   I am a realtor, and in Toronto I compete with 28,000 other agents….what drives me nuts is the vast majority of them don’t understand these basic principles….or they do and ignore them thinking not of their clients, but of their pocket books.

   Keep up the great work,
   PETER SCHIFF 2010!!!

9. brandonhomes Said,

   Dave Ramsey …
   Dave Ramsey describes this the same way. Your own home is not an investment because you have costs involved. Investment is when you have money coming in.

10. kevinsproul Said,

    The house you live …
    The house you live in is an expense. That doesn’t mean you shouldn’t buy one. My family prefers to sleep on a dry bed in a warm home.

    However to invest in real estate you should be buying houses that rent out at a higher cost than you spend on mortgage, taxes and maintenance.

    If you manage to open a gap between cost and rental on all the properties you own that is larger than the cost of your lifestyle you are financially free and that is the 1st step to wealth.

11. moniequa Said,

    why do we care if …
    why do we care if our fellow americans lose their homes? They won’t listen to you or anybody if you were to tell them not to buy one during the prebubble. The point is they saw cheap credit they borrowed and they got screwed, and its OK, they’ll learn not to spend money they don’t have in the future.

12. Melville10 Said,

    I tried not to …
    I tried not to laugh when I learned what the phrase “Using houses as ATMs” actually meant. I never realized owning a home means one is a trillionaire.

13. RevsPastRedline Said,

    Funny I definitely …
    Funny I definitely had reverted back to the mentality of ‘personal residence = investment.’ Now I am second-guessing my first-time house purchase!

    The explanation of the hidden costs of home ownership were eye-opening too. “One way or another you have to pay for shelter!” great point.

    Another interesting concept is the value of flexibility. Can you put a dollar amount on the flexibility of a lease vs. a mortgage? Probably not, but the convenience is some kind of value.

14. navykev Said,

    thats why i make …
    thats why i make videos — i am trying to show people there is another way — nothing better than really owning every thing you own

15. bartok6969 Said,

    Honestly, I just …
    Honestly, I just don’t see Americans doing that. If anything, I see the opposite: More credit, more debt, more foreclosures – because it’s hard to change ways of doing things when you’re used to living a certain lifestyle.

16. navykev Said,

    There is an easy …
    There is an easy way around that. Aggressively save and pay cash. No such thing as foreclosure if you own the property.

17. bartok6969 Said,

    You need to watch …
    You need to watch the video again and reread what I wrote. The questions arose from personal residential housing, not real estate in general. This is precisely what I was referring to as well as Peter, since many Americans have lost their homes due to the illusion of it as being a wise investment. That’s it.

18. bartok6969 Said,

    Hopefully you’re …
    Hopefully you’re joking. Wealthy people make money from buying houses they live in? Personal residence and real estate investments are not the same thing, as Peter Schiff explains. My friend did look at his condo as an investment and that’s the problem because Americans over built based on a phony economy.

19. bartok6969 Said,

    If you buy a house …
    If you buy a house and lose your job, where is the investment? How about foreclosure? A friend of mine lost his job, but was offered a job in another state, and he’s now paying on 2 houses. After being on the market for over a year, he’s trying to rent it out, but still no luck(a condo in a great location). So it doesn’t bring in money, it sucks out money.

20. mofofosho13 Said,

    No! It’s better to …
    No! It’s better to have extra money in your pocket immediately for real investment. His example was perfect, $7,500/month to rent vs. 2.5 million, which would take over 30 years to pay off with interest. If you can afford 2.5 million upfront, great, but it’s still better to put that 2.5 million into a low risk fund which yields dividends, something a house won’t do.

21. Jcolinsol Said,

    Yes that was my …
    Yes that was my point. The term “free-market” is a fallacy, there is really no such thing, it’s just people in the absence of coercion.

    My point being that, in the absence of a formalized system, people will develop varied modes of organization. Socialism and Capitalism will exist simultaneously, and in varying levels.

22. Piscivorus Said,

    lol – you make …
    lol – you make great points. I used to think the same way. I totally agree that governments are no more trustworthy than businesses. But, as Ron Paul told Larry King, the solution to corporatism is the free market. Only in a free market can you re-allocate ‘your’ (ownership) resources (labor and capital) away from fraud, waste and abuse, and towards the public good. I understand perfectly well that our rights are not endowed to us by any creator but by mutual consent- i.e. democracy.

23. Jcolinsol Said,

    If the problem is …
    If the problem is that PEOPLE are selfish and dishonest, how does it solve the problem to institute a system where PEOPLE have power over other people? The whole notion of the state is a fallacy. The solution to dishonesty is voluntarism, being able to re-allocate your own resources away from the dishonest, and towards the virtuous, at will.

    You don’t understand the nature of property rights, they don’t exist, they are defined subjectively, so of course you can share ownership if you agree to.

24. Piscivorus Said,

    The socialist ideal …
    The socialist ideal assumes that everyone will be completely honest and unselfish. But people are inherently dishonest and selfish. You need laws and police to keep people in line. That requires government. All societies require government. The absence of government is anarchy. Free market societies at least recognize that it’s good to own things. But there is no such thing as sharing ownership. You either own something or not. You can’t share something unless you own it.

25. Jcolinsol Said,

    No, nothing about …
    No, nothing about Socialism inherently demands the existence of the state, it’s just a non-hierarchical form of organization based on all participants sharing ownership of their own labor. Do you think it’s wrong for people to agree to share ownership? Do you think that businesses should be run as plutocracies? It’s asinine.

    In the absence of the state there will be varying shades of Capitalism and Socialism, because society itself is populated by people who think that way..

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