Got a bit salty in this one 😬 didn’t notice until I was recording 🤣 still a great conversation!
@waltervasquez5954
2 жыл бұрын
Bro a pool increases home value. In colorado as contractor a pool is around 150K but Also we’re talking about millionaires ..
@soapa4279
2 жыл бұрын
@@waltervasquez5954 I don't think Caleb was arguing the value of a pool, rather how this dude chose to get it.
@Mr_NB628
2 жыл бұрын
Depending on the profits. Why doesnt he sell NIO to offset the profits of TSLA? He can then buy NIO at a lower set price. Some Tax Loss Harvesting my guy.
@JoeLunsford99
Жыл бұрын
Something I noticed is that his robin hood account was a MARGIN account.
@Mr_NB628
Жыл бұрын
@@droiddevx03 👍🏼
@trent797
2 жыл бұрын
I worked for a FAANG and I know a lot of guys like this. They think they can be engineers by day, stock traders at night, and real estate mavens during their other free time.
@GrantValdes
2 жыл бұрын
This is your brain on Meet Kevin.
@iosgaming2824
Жыл бұрын
I think he should’ve focused on getting himself a place before buying an Airbnb for others to live in
@BillDaBurgerEater
7 ай бұрын
A lot of physicians are like that too
@aarinol
2 жыл бұрын
He’s doing too much too fast. He has a great income but his risk tolerance is insane. Purchasing a $700k house as an investment property with unstable cash flow was an absolute mistake in my opinion.
@SAnderson54
2 жыл бұрын
yup this is why mentorship is soo important before you get into real estate
@soloman_am
2 жыл бұрын
I agree that much on a rental property then maxing out credit cards to add a pool. He could of gotten something a little less expensive and still nice that came with a pool especially since it's just a investment property
@RealBoiJare
Жыл бұрын
Very high risk if there’s a downturn in the market. Leveraging $140K by 5 times
@VintageStereoCollector
11 ай бұрын
True
@VintageStereoCollector
11 ай бұрын
Scary he should’ve save a lot of money first since he makes more $100k a year,Save for for ten years first then buy a house his still young,This is how people young people get in trouble getting too excited too fast then lose everything and lose the job and now the credit history is getting ruined.I’d Rather have a lot I mean a lot of money then having a big house paying thousands of thousand of money and utilities.This is what happened to people wanna live the luxury lifestyle and live pay check to paycheck.This guy have a lot of debts now making $100k I just hope he doesn’t lose his job one day.Goodluck to him!!!
@titaniummetroid
2 жыл бұрын
This guy got a couple too many quick wins and decided to jump in with both feet. It isn’t a bad thing to take it slow!
@LBell
2 жыл бұрын
When he said “I consider my 401k my emergency fund “ …..👁️ 👅 👁️ 😳
@CalebHammer
2 жыл бұрын
😩😩😩😩
@Elflaco909
2 жыл бұрын
Food is food 😆 been packing my lunch for the past 2 years it’s been a game changer for my savings account
@droid2D2C3P0
2 жыл бұрын
Yeah that made me shake my head, food is technically food but there's cheap food and expensive food and healthy food and unhealthy food. It's like food is food but food is also not food lol
@mr.puggin8384
2 жыл бұрын
Meal prepping rice veggies and chicken 👌🏽💪🏽. After getting in bodybuilding you see food differently. And it helps your pocket lol
@Doors067
2 жыл бұрын
I do pn and j Monday through Thursday! Fridays the local restraunt does a 5 buck burger (good quality meat fries ect) so I do that every week. Keeps costs down pretty damn low about 40 bucks for lunch a month (24 bucks for burgers I pay a buck in tip) and 16 for pb and j
@soapa4279
2 жыл бұрын
My takeaway from this is "I live with my parents" This is why he's not worried about risk.
@CalebHammer
2 жыл бұрын
Oh for sure
@mulletsquirrel
2 жыл бұрын
Living with family and only paying 3-400 a month rent is a pretty smart financial move if you ask me... a nice security blanket.
@soapa4279
2 жыл бұрын
@@mulletsquirrel Not knocking on the actual thing of living with parents. It is indeed smart to do that while you can. Just simply pointing out why this guy is able to take the risks he takes without fully thinking it through. It's worrisome he said he's financially literate, but doesn't even know what a HELOC is.
@mulletsquirrel
2 жыл бұрын
@@soapa4279 We all have things we can learn. He's only in his early 20s, gotta give him a break not knowing all the ins and outs. He'll get there.
@SusieDickson
2 жыл бұрын
With his situation he could have invested in a much smarter way.. he could’ve bought a duplex or quadplex, put a little money to fix it up. Live in 1 unit while cash flowing with the other units… save and keep investing! Ugh
@PapaJaves
2 жыл бұрын
It's shocking seeing smart people like this guy get wrapped up in meme/single stocks. Sure, index funds are "boring", but I prefer my retirement fund to be safe and grow than extremely volatile.
@desertguy1362
2 жыл бұрын
Tesla is NOT a meme stock than again it's not a blue chip stock.
@CalebHammer
2 жыл бұрын
For sure, not a meme stock, but still that much of a single stock ruling his whole portfolio 😬
@MaXiMoS54
2 жыл бұрын
Most people get emotional and get into mindset they want to get rich quick.
@mr.puggin8384
2 жыл бұрын
Tesla isn’t a meme but Elon musk is 😂😂😂💀 he can’t literally crash his own stock and not care then push it the next day lol
@davidclay3737
2 жыл бұрын
TSLA has split 2 times in the last few years. 5 to 1 in 2020 and 3 to 1 a few months ago. Before Tesla split 5 to 1 it went from 200 to 1000 then split and went right back up to 800 and peaked at 1200 last year. He could have made 20x in just a few years I assume that is where most of his wealth came from.
@uniform131
2 жыл бұрын
Pools are horrible investment!! The chemicals every year are outrageous.. what until the pool gets trashed by a renter. Looking for quick $$$ so he can spend $$ like a billionaire.
@headcas620
2 жыл бұрын
Or some kind of lawsuit if something bad happens at the pool.
@davelarry5838
Жыл бұрын
We need to follow up with this guy
@papagotbigtoes3344
2 жыл бұрын
Guy: I’m not worried about the credit card debt cause I have the money to pay it off Caleb: then pay it off Guy: I can’t
@CalebHammer
2 жыл бұрын
🤣🤣
@choreomaniac
2 жыл бұрын
He would have to make 25 percent per year on his stocks to make not paying off his credit cards worth it. That’s very unlikely.
@GrantValdes
2 жыл бұрын
Every person I've ever heard justifying Affirm
@jha0024
2 жыл бұрын
FACTS!!! Bahahhahahahha
@Mack.of.all.trades
2 жыл бұрын
Dude sell the freakin house tomorrow and hope you make $30-60k and walk away. You are in over your head. Watch’s to many motivational videos and bought a freaking 700k house lol.
@GrantValdes
2 жыл бұрын
The fact he says it cost exactly $700k... I bet it was more and he's rounding down.
@Mack.of.all.trades
2 жыл бұрын
@@GrantValdes 100% rounding down. Not to mention his was quoted $90k for a pool then contracts it himself for $45k. Either got shotty workers or also rounding lol
@timothygibney159
2 жыл бұрын
That house he is lucky to get 450k for as the bubble burst
@DeadlyTiger
Жыл бұрын
From the future where Tesla suddenly fell 60% this month. Oh no.
@starstruck8242
2 жыл бұрын
“Food is food” Caleb: 🤨
@craigmcpherson1455
2 жыл бұрын
He needs to sell that Airbnb house immediately. Recession is coming and nobody is going to rent his Airbnb. His house will also lose value. He also risks being laid off from his job. He could get screwed real bad!
@Carlos-sh6iu
2 жыл бұрын
Yeah, he did not consider risks involved lol
@hanspz5505
Жыл бұрын
This aged well lol
@lyndapham4022
Ай бұрын
It just takes a simple layoff of your job to screw up everything you have going in your life. He is so young and smart and determined so I wish him well.
@rpgeek22
2 жыл бұрын
He's jumping the shark on life. He is trying to be a rockstar but is actually just walking straight into hundreds of thousands of dollars in debt. His income won't outpace his expenses for long.
@word42069
2 жыл бұрын
Bought an expensive house to use as a rental property and spent tens of thousands on a pool but does not have an emergency fund? Isn’t that like rule #1 on buying a home especially to rent? Like he’ll probably be alright but what the heck does he think is going to happen if he unexpectedly loses his job ..just sell of stocks that might be taking hefty losses (aka his retirement)? Anyway, this is a great example of a person who probably doesn’t need the student loan forgiveness..
@aleksandra2759
Жыл бұрын
Your Tesla advice aged so well 😂
@drno-xc1yt
Жыл бұрын
You know what they say about pools - holes in the ground into which you throw money.
@Miggy2222
2 жыл бұрын
“I consider my 401k as my emergency fund” 😅
@esn187
2 жыл бұрын
Too many people think they can buy rentals without running the numbers. It takes about 5 seconds to realize that an extremely expensive pool will absolutely kill the CoC return. If your Airbnb isn’t performing that well, sinking $45k into a POOL is not going to help anything 😂
@Demingirl15
2 жыл бұрын
"this is fine" as the room is burning down around Caleb
@TVHouseHistorian
2 жыл бұрын
This guy’s very ambitious… maybe a little *too* ambitious. But he seems to have a really good head on his shoulders. Even with all that bad debt, I like that he’s a risk taker. I think with some moderate adjustments and discipline, he’s gonna be okay. I really like that he isn’t sitting there making all kinds of justifications and excuses.
@stonecoldsigma
2 жыл бұрын
I can tell you are passionate about what you do and you really want these guests to do better. I never get a sense that it's all about content with you. That's why I like the channel.
@ChristoherWGray
Жыл бұрын
How can you safely rent a house on AirBnB with an unfinished hole in the backyard?
@aantony
2 жыл бұрын
DUDE, you totally ignored his 65k of margin debt
@RealBoiJare
Жыл бұрын
With his bad stock averages I’m sure his positions would’ve been liquidated by now. Needing to pay off that margin debt
@RealBoiJare
Жыл бұрын
Dudes lucky he still lives with his parents while owning a $700K rental property lol. Looking at which stocks he was holding 4 months ago, they’ve lost around 50% of their value which means he most likely got margin called by now - if he didn’t liquidate his positions soon enough. Ouch!
@iandrayer6029
2 жыл бұрын
The way he uses margin for everything is really scary... About $60k of margin loan to purchase about 1/3 to 1/2 of his portfolio is huge, what's the rate he's paying on that? His entire life is built on margin & leverage, hopefully everything works out, but this could become a ridiculous problem in the future if the economy turns and the AirBNB stops cash flowing as people go on fewer vacations. Glad you're hammering on the rebalancing the portfolio; given the loss on NIO, he should sell off some of it to help avoid the capital gains taxes on the TSLA gains to net zero gains. He should be fine since his income is high and personal expenses seem low, but the way he's using margin is playing with fire.
@choreomaniac
2 жыл бұрын
100 % great analysis.
@unicornshampoo
2 жыл бұрын
It does amuse me someone sunk their money into an actual pit. And they are underwater.
@desertguy1362
2 жыл бұрын
You can say their up to their eyeballs in debt 😂
@josephsm7723
2 жыл бұрын
I agree, my dude is about to ride into recession and is all in on depreciating assets and stocks. Also living in the state that always gets hit the hardest in a housing crash. This guy needs a follow up call in a few months to see what happens with that house.
@CalebHammer
2 жыл бұрын
😬😬😬😬
@stouf9031
2 жыл бұрын
Caleb, you missed the fact that he is using a ton of margin in his robinhood account. A swift downward movement in Tesla and Nio stock would destroy his portfolio really quickly. The guy is way over-extended. I would liquidate that portfolio right now. Then I would open an account at a grown-up broker, aka not robinhood, after having a big emergency fund for his personal and real estate needs.
@andrew8168
Жыл бұрын
Tesla is down around 62% in the past 3 months since this video aired.
@jackiedaytona7681
Жыл бұрын
@@andrew8168 THIS is what I was wondering about. That's a potentially catastrophic loss if he maintained that margin % into Tesla's downturn
@mikeboss8936
Жыл бұрын
I wonder what it looks like now. Tesla is performing horribly. Damn
@RealBoiJare
Жыл бұрын
@@andrew8168 yup. He would’ve been liquidated by now if he didn’t sell enough already
@RealBoiJare
Жыл бұрын
@@mikeboss8936 I’m sure it’s liquidated
@A-Brax
2 жыл бұрын
Bought a house in scottsdale Arizona which saw the highest rise on house prices and now has the biggest drop in housing prices... Also a 700k house on a 110k budget wtf are you doing man! You should be at like 160-170k to afford a house like that in case Air BNB doesnt work out that well
@gerardolazo3333
2 жыл бұрын
Dave Ramsey would kick his ass hahahaha 😂
@word42069
2 жыл бұрын
I would argue more… but then again he lives with his parents so his overhead should theoretically be lower.
@RealBoiJare
Жыл бұрын
You’re right. 100%
@tyd8077
2 жыл бұрын
Friggin sick of these airbnb "investors"
@truthlove1114
Жыл бұрын
Would love an update on this considering the current state of the realestate market and stock market. The homes were over inflated the past 2 years and with the economy slowing likely AirBnB will be slowing as well. Best best for someone starting out is first home purchase should be a home for yourself before diving into a large investment property. Wish him much luck he seems like a smart guy and wants to get ahead.
@teagues6660
Жыл бұрын
7 months later and Airbnb has continued to flop and places like Scottsdale are cracking down pretty hard on these types of short term rental owners. I would also be interested in how this guy is doing now
@Lunalane567
2 жыл бұрын
lol food is food.... no its not
@CalebHammer
2 жыл бұрын
🤣
@filipbardsley2755
2 жыл бұрын
Man, im so stupid at 1:07 I started giggling because I thought his name was Albert Albert
@CalebHammer
2 жыл бұрын
🤣
@cheesypoofs6256
2 жыл бұрын
I think Arizona is going to take a housing hit. They had a bubble and their housing increased fast in just a few years. Some analysts I watch say Arizona is going to have a burst. I mean it’s cool he was able to buy such a nice house but why not buy 2-3 smaller houses and rent them out instead of just one big house? If he wants to be a landlord.
@jarroddowalter
2 жыл бұрын
He probably wants to eventually live in it with a future family but is using Airbnb to pay it off while he is single.
@MrUben564
2 жыл бұрын
He should sell half Nio (loss) and half Tesla (profit) to offset the losses and minimize his taxes
@gabrieliacoboni6951
2 жыл бұрын
I don't understand some people, in fact the majority of people. Debt freaks me out. I don't like it. Heck, my mortgage, which is affordable and we have 25 percent equity in our house, freaks me out. The lack of financial education people not just have but were ever PROVIDED is SO detrimental to our society and current generations.
@moto321jake
2 жыл бұрын
As a pool builder this gave me anxiety I’d be interested to see it pools are a money pit especially when built by a home owner
@US_Wrestler
2 жыл бұрын
This dude is totally fake and playing Caleb. Luckily Caleb is smarter than that and can read right through him. I think he enjoys being stoic, but for someone who can take on an Airbnb at 23 in Scottsdale for 700k and build a “pool” is being financially supported. There was a lot of missing information he didn’t provide, wasn’t being completely honest. Sounds like he comes from a wealthy background and has extra wiggle room to play with money. He was also not able to prove his employment since he had no paystub. Also when did Airbnb’s go for 1,300 for three nights in Scottsdale.
@RealBoiJare
Жыл бұрын
Honestly though, that pricing might not be cap. My family rented a placed in Arizona with a pool and I think it was $5,500 for the week. Granted, there was about 9 adults and 2 kids staying in 5 bedrooms but it wasn’t a fancy type of place. And our place wasn’t even in as nice of area as Scottsdale
@POINDXTRMUSIC
2 жыл бұрын
Arizona is sounding pretty blown out these days
@jaydenorr7618
2 жыл бұрын
arizona housing market will correct like crazy. way too much leverage
@TheHighWayPirate
2 жыл бұрын
Love the content! Could you do some more avg 35-50k a year people? Make content a little more relatable to the viewers
@jonaskruger6755
2 жыл бұрын
Why are you so uncritical of all this over leveraged real estate investing? So many people rush into this AirBnB market with crazy overvalued houses. If in a recession airbnb demand and house valuation tanks its gonna wipe them out.
@TheDanaYiShow
2 жыл бұрын
I can't believe Caleb didn't notice how much margin he has on his RH account! Especially with interest rates going up, this could be super dangerous 👀
@CalebHammer
2 жыл бұрын
My mind was so focused on the pool 😩
@jasonphillips3796
2 жыл бұрын
Jesus he bought NIO at the top of the market! That valuation was unreal high back then!
@DoctorJellicle
Жыл бұрын
With how Tesla is doing these days, I wonder how his investments are doing now 😳
@Jose-ht2lw
2 жыл бұрын
Damn! Making over 100k and only having 10k in the bank?! Terrible money management. Didn't he take economics in school?!
@thetruthhurts9220
2 жыл бұрын
I’m from AZ too. Scottsdale is a very affluent area however, they are having issues with wayyy too many airbnbs. 700k is actually not bad for Scottsdale.
@lightbrightconnect
2 жыл бұрын
Didn’t he say at the beginning of the interview that he was personal finance educated? 😂. I don’t see it.
@Poooridge123
2 жыл бұрын
This may be the only episode where everything is actually a one off, unique situation lol
@debasishraychawdhuri
2 жыл бұрын
He should have borrowed money for the renovation since it is a commercial property and he would get interest rates on that. Other than taking it on the credit card, his investment actually does not sound that bad.
@Liimpy
2 жыл бұрын
David wouldn't approve of any of this spending😬 Thanks for another great audit Caleb 🤘
@CalebHammer
2 жыл бұрын
Thanks!!
@Carlos-sh6iu
2 жыл бұрын
David 😂
@livebrain
2 жыл бұрын
The more i watch this youtube channel the more i wish i had a guy telling me abaut financial stuff at really young ages. Im 40 and i dont even think about my retirement because theres no way i think i will have any sort of financial stability in the future
@TH0KH
Жыл бұрын
For real. I'm 30 and watching him has lot a fire under my butt to get a move on my retirement. I'm behind lol
@josephbrown9685
Жыл бұрын
I’m slightly older than you. I also wish I’d had this kind of advice in my 20s, but there is no time like the present. Start making as many changes as you can to save some money for your future. I’m in the process of doing it. Don’t waste anymore time. It could be worse. You could be 50 before you realized this.
@jlwoods79
2 жыл бұрын
The theme of most of these videos is Americans are in too much debt.
@CalebHammer
2 жыл бұрын
Yuppppp
@DasShaten
2 жыл бұрын
well lets be honest those of not in debt don't need Caleb's help.
@jlwoods79
2 жыл бұрын
@@DasShaten maybe, but we can all learn a lot from Caleb. I’m not in debt but I learn something when I watch him.
@donnybrook9455
Жыл бұрын
The culture among young people pushes living beyond their means and puts down the idea of a good 9-5 job. They all have these get rich quick schemes and side hustles.
@oakspro2998
2 жыл бұрын
Slow and steady gets to the finish line
@viva6648
Жыл бұрын
I wonder if the AirBnB is still doing well, with the cooling market, tech layoffs, and the struggles AirBnB is facing with clients (overpricing, fees, complaints about renters on TikTok). There was a shooting at an Airbnb in Scottsdale late last year, and I believe that that area in particular is really fighting against Airbnb. Scottsdale and other AZ cities have really started putting some serious restrictions and regulations on short-term rentals, such as requiring liability insurance.
@abetts123
2 жыл бұрын
Do you think you’d have a heart attack if someone had a 6 month emergency fund that they recently put all into meme stocks?
@CalebHammer
2 жыл бұрын
I’d cry
@8G00SE8
2 жыл бұрын
You got something to admit to here?
@IamAWESOME3980
2 жыл бұрын
My emergency is all out into a portfolio that sells cashed secured puts. Now it is assigned, it becomes a cover call selling portfolio. Now it is down by 20% due to no improvement in inflation and fed rates, it is now turning into just another long term investment as I wait for stock price to recover :/ It is time for me to build up another emergency fund. *sigh
@GrantValdes
2 жыл бұрын
I found a KZitem channel from a family of 6 who retired into FIRE with 100% of their net worth in stocks, most of which were individual stock picks! They lost 30% in their first six months of FIRE and had to quit.
@mr.puggin8384
2 жыл бұрын
The smart thing would be to put your entire check every bi weekly into doge coin and pull what you need 😂😂😂😂😂😂💀💀💀 jk
@tylersanders2388
2 жыл бұрын
I understand the want for a ton of big expensive things when you finally graduate college and start to make big adult money. All he needed to do is take a breath and wait a few months until he has the cash Also, with his car those grand caravans are pretty reliable a new ignition is probably only a few hundred
@Jose-ht2lw
2 жыл бұрын
Shiiiiiiit! Of course he's still living with parents making awful money decisions. Always has a place to sleep.
@ArmadilloAl
2 жыл бұрын
Normally I'd scoff at the idea of a $10,000 used car, since in this market a $10,000 car is like a 2013 Nissan Versa with 100,000 miles that probably only cost $13,000 new, but I suppose in this particular case that's still an improvement.
@CalebHammer
2 жыл бұрын
It takes time and work to find one, and then your mechanic to sign off
@Psi-Storm
2 жыл бұрын
Your used market is even worse than ours in Germany, or you aren't looking hard enough. You can currently get a 2016 VW Golf with 50000 miles for 10000€ over here, and a 6 year old Golf would have been maybe 7k 2 years ago.
@timothygibney159
2 жыл бұрын
A new versa is almost 26k as no dealer would sell one at MSRP. Only $10k ovet
@Golden63
2 жыл бұрын
There isn’t anything wrong with his personal finance but his investment methodology. If you just look at a personal finance perspective, earning a six digit salary indeed allows him to splurge himself every now and then, be it dining out or buying things at Amazon. But it is his unscrupulous investment strategy that caused all his financial problems. He should have saved enough money first before adding the pool, while his property can still generate some revenue for him.
@jvolstad
2 жыл бұрын
A number of years ago I was looking to buy a house. I found a nice property on an acre of land, up on a hilltop. The reason I didn't buy? The previous owner had a in-ground pool installed. I don't want to deal with a pool.
@imwhatyouyoucallaballsack6205
Жыл бұрын
Sounds like the perfect opportunity to fill it with Dr Pepper and swim in it until you are full of pepper
@KS_1995
2 жыл бұрын
$140k down on a $700k property plus another $45k (plus interest) on a pool just to cash flow a couple hundred per month?? Wow! These 2/1 $120 properties in KC are covering the 1% rule and cash flowing 400+ on long term leases!
@iAmKilljoy
Жыл бұрын
Cars broken? Fix it. He doesn't need a new vehicle, he just needs a new ignition switch.
@SmashedHatProject
2 жыл бұрын
He's margin calling himself!
@ticktockyo2
2 жыл бұрын
What happens if his state decides to ban AirBNB or he loses his actual job.. smh
@RealBoiJare
Жыл бұрын
Dude would get wrecked
@elliotsmith4913
2 жыл бұрын
The mortgage doesn’t make sense on his Airbnb. 700k purchase price with 20% down should be a payment well over 3,000.
@Doors067
2 жыл бұрын
Part of why I picked my condo was the pool
@inkerinnakoinenelama7211
2 жыл бұрын
Such an interesting interview. He is young and already interested in taking care of his own finances, which is awesome. If he now picks up Excel and starts making even basic calculations before making investments (instead of trying little bit of this and that to see what happens), he will be unstoppable! I hope you share with us his news in six months, I am very curious to see how he is doing :)
@ivanfuentes1035
2 жыл бұрын
Either he wins or looses. He’s gambling. He has enough to actually have to declare bankruptcy if called on the margin
@NickVetter
2 жыл бұрын
I wonder if this guy thought he was coming in and was going to ace everything.
@HelloHello-yb1rl
2 жыл бұрын
Drowning in debt
@CalebHammer
2 жыл бұрын
🫡🫡
@joshuakeller6687
2 жыл бұрын
This house purchase is one big money pit. Even though he can liquidate his stocks to pay off his credit cards each month he carries his balances over is money they are making on the interest rates which continue to increase as the fed raises rates. This kid got in over his head. I hope he finds a way out because he has the income potential to be very successful.
@Psi-Storm
2 жыл бұрын
I disagree. The house pays for itself and the pool should generate so much additional rent that it's paid of in 5 years. Just financing the house stuff with credit cards was a stupid idea. He paid around $400 in interest every month.
@Jajaky
2 жыл бұрын
always funny to me seeing young guys getting super excited about saving and investing, but still have no clue what a Roth IRA is. not far enough to know if it's the same for this guy, but gives off the vibe
@007kchr5
Жыл бұрын
Smart guy but he’s making the simplest mistakes. Never touch 401k before you retire, credit card interest is higher than any return you would get on stocks, have an emergency fund etc…
@heychrisfox
2 жыл бұрын
I didn't realize until he mentioned it, but Nio is a Chinese company. If I'm not mistaken, there are a lot of Chinese companies disconnecting (I don't know the proper word for it) from the NYSE, due to various political issues inside of China. If that's the case, even if the guy is at a loss, it might be smart to look into his Nio investments and the climate around Chinese stocks in the US, ASAP, before something really tragic happens.
@word42069
2 жыл бұрын
Yeah i mean I try not to be to exposed to China. It’s not any more reliable than russia arguably and simply because their stocks haven’t been delisted yet doesn’t mean they won’t be.
@TheRealE.B.
2 жыл бұрын
1. Residential pools are white elephants. They're a huge hassle to maintain. I regard them as decreasing the value of a property, not increasing it. 2. I'd love to see the "schematics" of a concrete pool designed by an electrical engineer. This one may end up being even more of a white elephant than usual. XD 3. The tax implications of selling the Tesla stock while being an AirBnB landlord might come as a bit of a surprise to this guy.
@edwardking3055
Жыл бұрын
Wilmer Valderrama blew threw his That 70s show money pretty quick
@SouIworld
Жыл бұрын
Soooo... he better sold all of his Tesla
@brentmiller3479
Жыл бұрын
Fast forward to Feb 23, A B & B Crash, real estate values crash interest rate spike TSLA stock price Crash, S&P down more than 20% Get this Dude back on so we can hear the full S**T Show! Wow what could go wrong?
@chrishan9138
Жыл бұрын
Why are his parents cool with him living at home in his 20s when he has a 700k home, a decent job, and windfall from stocks? Doesn't he want to grow up at some point or have a serious relationship? Many people his age still live at home because they have to... not because they YOLOd everything into a single big property and have to crash with mummy and daddy on airbnb nights.
@micaray7662
2 жыл бұрын
Damn he could’ve bought two nice homes in phoenix for the price of the one he got
@thechriswrobelexperience1809
2 жыл бұрын
I love watching these videos to show people what not to do!
@spiderninjaswan8562
Жыл бұрын
I really want to see an update on this!!
@jvolstad
2 жыл бұрын
His problem is not credit cards and fast food. His problem is that house. Get rid of it!
@Edie-games
5 ай бұрын
Feels like when you take into account the taxes he's going to owe, he would have been better off getting his own house which is tax deductible vs an AirBnB where he NEEDED to buy a POOL immediately.
@gusmueller4413
Жыл бұрын
omg, knowing where tesla stock is now, this really hurts to watch. let that be a lesson about single-company stock investing!
@sackyhackMxO
Жыл бұрын
I’m not experienced in Air BnB but I would imagine the liability of that pool is high!
@MarinoRacing
2 жыл бұрын
He definitely can’t afford that house. Couple bad months and he’s done for.
@CalebHammer
2 жыл бұрын
Yeah :/
@mulletsquirrel
2 жыл бұрын
He makes $110k a year, should be able to pay that mortgage with almost no other living expenses.
@word42069
2 жыл бұрын
@@mulletsquirrel bad month could also include getting let go. even if he’s able to get a new job quickly… there could be a bit of time where he’s forced to sell his 401k holdings at tough losses. I guess people really don’t consider how important an emergency fund is… and even more people seem to think they’re immune from losing their job.
@mulletsquirrel
2 жыл бұрын
@@word42069 That's a good point. An emergency fund is key to not making tough decisions when times get tough.
@11Voltage
2 жыл бұрын
Seems like he's a smart, but not as smart as he thinks. He's playing the margins very tightly.
@MaryThiboudeax
2 жыл бұрын
He’s young enough to recover from this. *IF* he can get laser focused on his finances and stop listening to influencers.
@cookiimonst3r
2 жыл бұрын
Dude should establish an LLC, get business cards, then expense thos
@kingofrivia1248
2 жыл бұрын
There is nothing weong with single stocks but i have 73 single stocks. Thats different than having one.
@119jle
4 ай бұрын
I’ve seen the $700,000 houses. In Michigan the same house with land is $280,000
@davewhite756
Жыл бұрын
He got stuck with neo the way I got stuck with rgs. Took a 30k loss this year. Less taxes the next couple years, so I got that going for me.
@crazyboi1818
Жыл бұрын
Rip to NIO took a massive dip and kept dipping literally right after this video 😂
@fearlessreview
2 жыл бұрын
Mans thinking big and has a higher risk tolerance nothing wrong with that. Rent out the pool separate when there’s no Air BNB occupancy 70-100hr.
@RealBoiJare
Жыл бұрын
“Nothing wrong with it” until his positions get liquidated and his house becomes worth less than his mortgage with no one renting it
@IamAWESOME3980
2 жыл бұрын
How the fck can people even spend that much? As someone who came from third world and living on $5ish a day, this boggles my mind.
@abetts123
2 жыл бұрын
Growing up in the US indoctrinates a consumer mindset. It’s definitely still ridiculous but if you think of every ad, movie, tv show; it’s all encouraging spending. Also, very little education goes toward money/finances, and the painful lessons are harder to learn since people don’t like talking about debt; everyone pretends that they are doing fine.
@diegolara4202
2 жыл бұрын
Yes, it is very weird. I live here in the US and I think so much before I even make a $100 purchase. Some will spend 50k on a swimming pool for their backyard. It is mind boggling how some people view money.
@soapa4279
2 жыл бұрын
Because some people can afford to use money as a tool to make more money. Once all your basic needs are taken care of and you have a surplus, you can use it to invest.
@diegolara4202
2 жыл бұрын
@@soapa4279 But he is obviously over his head. And more and more cities are starting to regulate Air BnB so its possible 2 or 3 years from now he won't even be able to rent it out. I guess he can get the equity, but even with all the money spent on the pool, that does not increase the value of a home by much if any as the only thing it does is reduce the buyer pool because many people don't want a swimming pool that takes up the entire back yard.
@soapa4279
2 жыл бұрын
@@diegolara4202 oh in no way was I defending this dude in the video. I was just speaking in general.
@racheyl891
7 ай бұрын
In the desert cities pools do bring almost dollar for dollar investment for the home.
@marymclaughlin361
Жыл бұрын
I love that his 1999 car is still getting him around 😂
@sherriebreese3524
8 ай бұрын
I love that it is a Dodge Caravan. Like a garage on wheels. Can carry anything as cargo except for a queen size boxspring.
@BananaStandOperator
9 ай бұрын
Dude could've bought a decent high yield dividend stock and made like 7-10% a year doing nothing but instead he bought a rental property and started sinking more money in... Sick passive investment bro
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