Full transcript
0:00one thing that plays out all over the
0:01Internet you see it over and over again
0:02but it's the Grant Cardone never buy a
0:04house Dave Ramsey buy a house and pay
0:06everything off and it's interesting to
0:08me I guess the path I take is I know
0:11that I have to be doing things my way at
0:13the end of the day I've always had to
0:15pay off my things it makes me feel
0:17secure I've been through some hard times
0:19in my life I know that a bank can take
0:21things I don't know what got me thinking
0:24this way or why I do it but I always
0:26know whenever I don't do what's in my
0:28heart and I'm doing what I think someone
0:29else thinks I should be doing it doesn't
0:31work good for me I have nothing against
0:33never buying a house and mathematically
0:35Grant Cardone he's probably right but
0:37what he's saying is don't buy a house
0:39and so let's just say an example you
0:40work at TSA you go home to your husband
0:42or wife and go hey Grant cardal says we
0:44should never buy a house okay well never
0:46buy a house keep your W2 job and don't
0:49do anything else just don't buy a house
0:51cuz that's what he says I can tell you
0:52exactly where you're going to be in 20
0:53or30 years depending on your age now on
0:55the other hand the Dave Ramsey pay off
0:58your house well it's worked for me what
1:00it's done for me is the house I'm in now
1:02I probably paid it off in six or seven
1:04years so I get the house paid for and
1:06it's probably made me millions of
1:07dollars paying off my house what I've
1:09done is after I paid for it I had a line
1:12of credit attached to that house I've
1:14never used one penny of any of that
1:16money for anything that wasn't going to
1:18make me money in other words buy an
1:20assets that appreciates and cash flows
1:23and I've been very disciplined about it
1:25go back to the bank get your money back
1:27pay back my line of credit and I've done
1:28that multiple multiple multiple times
1:31because I only buy undervalued real
1:33estate and I only buy real estate that
1:35cash flows having that money available
1:37that's basically a checking account is
1:38my house I can write checks really quick
1:40and close deals so for me it works
1:43paying off my house and then I get a
1:44line of credit the problem with that is
1:46and I see family members friends and
1:48family whatever people that know me say
1:50oh I I should do that I'll go and I'll
1:52pay off my house and take a line of
1:53credit it happened recently in a family
1:55member that has a couple hundred, in
1:57equity but this person lives their life
1:59as a feret they're looking over here and
2:01they look over here and they're busy
2:02bodies that took my breath away I go
2:04wait wait wait wait wait you don't want
2:05to go get a line of credit and pull out
2:07$200,000 on Equity unless you're already
2:10disciplined and persistent and have
2:12goals and objectives in mind for
2:14instance buying assets undervalued the
2:17cash flow because what will happen this
2:19person says hey I'm going to go out and
2:20do what you're doing I'm going to go get
2:21this line of credit my house and I'm
2:22just like who wait you probably
2:24shouldn't do that you're not that type
2:26of person I can see what's going to
2:27happen you're going to take that2 200
2:29,000 you're going to look for a deal
2:31deals are always hard to find that money
2:33is going to be sitting there and you're
2:34going to come across a used Corvette or
2:37a used whatever and you're going to
2:38think that that's the next step hey
2:40guess what they have fancy cars in their
2:41garage I need one in my garage to be
2:43successful and you're going to take that
2:45line of credit money and you're going to
2:46buy something stupid a depreciating
2:48asset that is worth nothing soon Grant
2:50conon way works as long as you follow
2:52the next step and the next step Dave
2:54Ramsey step works also but you got to
2:56follow the steps there's more than just
2:58that I know they throw that out there
2:59don't don't buy a house do buy a house
3:01don't pay off house do pay off a house
3:02but it's the steps that come after for
3:04me I know what makes me comfortable like
3:06having my paid for with that mine I
3:08pay for my I try to get it paid off
3:10and it makes me feel comfortable
3:11mathematically could it make me more
3:12money if I didn't do that Grant Crone
3:14you're probably right Dave Ramsey don't
3:16believe everything he says either so I
3:17do it my way maybe it's a high bread of
3:19both but I know I have to do it my way
3:21when I'm not doing things my way it
3:23screws me up screws up my head gets me
3:25uncomfortable and then I'm in a
3:26situation I'm trying to get out of I've
3:28been in business long enough before the
3:29internet before any social media and so
3:31I'm a young guy out in business and
3:33everyone's telling me I have to start
3:36golfing Mike the business deals are done
3:38on the golf course the big deals are
3:39done on the golf course you got to start
3:41golfing all right so I'm going to start
3:42golfing so not only start golfing I buy
3:44a house on the golf course all right I'm
3:46all in man I'm going to be golfing I
3:47tried it for about 2 years I didn't like
3:50it the first day I went and the very
3:51last time I went I didn't like it for me
3:53I'm high strung I'm running all the time
3:55I'm thinking all the time I'm busy I
3:56want to be working so to get me out on a
3:58golf course on a Wednesday in the middle
4:00of the day was a effing nightmare I was
4:03miserable every single time I was on a
4:05golf course hey you got a golf so that
4:07you can close deals I golfed for a few
4:08months never golfed since and believe me
4:10I've closed a lot of deals when everyone
4:12was saying back in the day you have to
4:13golf in order to close deals no you
4:15don't you don't have to do anything but
4:16your way you can take advice from people
4:18that you respect or that you admire or
4:20whatever but as far as doing things you
4:21don't want to do like I didn't want to
4:23golf but I tried cuz everyone told me I
4:25was miserable every time and I had to
4:26get off that golf course and I didn't
4:28want to spend the hours it takes I could
4:30be working I didn't like the networking
4:32that happened out there I didn't like
4:34drinking in the middle of the week or
4:35middle of the day after golf is always
4:37the drinking that goes on nothing
4:39against drinking but I'm not drinking
4:40during the business hours during the
4:42business weeks or anything like that you
4:43got to follow your heart you got to
4:44follow your mind you got to make what's
4:45best for you you take little nuggets of
4:47information from other people but you
4:49got to do what's best for you and you
4:51got to think it through buy a house
4:52don't buy a house it's up to you pay off
4:54a house don't pay off a house I'm not
4:55sure what's best for you I would never
4:57tell you what's best for you I just know
4:59what I've done paid off my houses I've
5:01gotten lines of credit I've taken the
5:02money from the house and I've went and
5:04bought undervalued appreciating assets
5:06that are cash flowing I'm sure as hell
5:08glad I had the cash available just like
5:10that anytime cuz my house was paid for
5:12but I wouldn't be messing around with it
5:13unless you're going to be disciplined
5:15and persistent you start taking money
5:16from your house you're juggling
5:17chainsaws baby you're in deep end the
5:20ice is thin out there you could fall
5:21through
5:24[Music]
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