Biggest LIE in Real Estate

Biggest LIE in Real EstateDiscover the biggest LIE in real estate! It's absolutely crucial that you are aware of this massive lie because it's the foundation of making good real estate decisions. And being ignorant of it is even worse because it can cost you, tens, if not hundreds of thousands of dollars or more! For many people, this is quite a shock to them because they have been taught something quite different their entire life. But as you'll soon see, the truth on this matter is not talked about because the powers that be don't want you to know this wisdom. They would rather you remain unaware. So here it is, the biggest lie in real estate is...

Comments

  1. Great video on how government actually owns your property even though you may own it free and clear.
    Thanks Phil

  2. Great reality check!! Thank you, Phil!!

  3. Dave Pedersen says

    Property tax on individually owned lands is the foundation of nearly all government corruption.

    We are enslaving ourselves.

  4. Great summary and refresher topics.

    Luis

  5. Dunedin, Florida… I so prefer Done EEEEE din… NOT Dune i din. Lol. That argument goes on, like tomato – ta mate toe versus ta ma toe. Hehehe.
    I like the video – I have used RE to get wealthy. I agree – many newbies have no idea how much government tries to control so many aspects of RE ownership. Must consider PITA factor(pain in the *@$) when owning RE – not just government, but also dealing with occasional irrational child-like tenants. Also, leveraged properties do make a much better ROI than free and clear houses (and amortization indexes you for inflation even better than free and clear houses). I would say, on average, my free and clear houses make about 10% ROE (return on equity). Most of my leveraged houses make/made anywhere from 15% to infinite return (zero down with positive cashflow – it can be done!). But, part of the beauty of buy and hold is long term, that the free and clear houses provide income for life, and maybe even for your kids and your kids kids, still indexed for inflation, even though the ROI is not great, and enjoying the jump in cashflow/income that occurs when the mortgages start dropping like flies. I have many free and clear houses, and while my ROI is not ideal, it is still difficult for me to do a lot better in other investments… I love the wealth planning aspects for life, though – if/when to sell versus hold, whether or not to pull cash out for other opportunities, 1031 exchanges, manage yourself or hire somebody, etc., etc. Fun stuff!!! The benefits far outweigh the PITA factor!

  6. Robert Shaffer says

    Hi Phil

    You have my attention.
    I am wondering if you do individual consultation?
    I am a “property owner” who has been trying to learn all I can.
    I have learned I have a low Financial IQ and am in a bit of a bind.
    If you have a little time, I could use some advice that I have not been able to find elsewhere.
    Good video by the way
    Thanks

  7. That is a great point Phil, and I never really looked at it that way. The government still being the owners of these properties. The taxes every year on your home and they can evict you for not paying those property taxes. Someone at the court house can payout your taxes on the home and become owner. The government is in control of everything.

  8. Earlene Ferguson says

    What a wakeup!!

  9. I want to do real estate but I don’t know where to start?

  10. i like to get free video how can i get them?

  11. Kevin Brent Cross says

    Absolutely correct. In the end, it’s not about ownership, it’s about control. Control of the asset and the opportunity it brings. Thanks Phil. You’re my soul brother even though we’ve never met.

  12. dunn-EDEN

  13. I love the way you put The Biggest Lie in R. E., The thing about buying is good, because when you rent or lease. You never know when they will increase your lease. Buying your mortgage will not increase. It is fixed for life. I enjoy your videos.

  14. I do need an excellent mentor.

  15. Valerie Mays says

    Hi Phil, what are your thoughts about “Reverse Mortgages”?

    • Phil Pustejovsky says

      You can generate MUCH higher rates of return than a reverse mortgage provides. Better to borrow the money on a long term, low fixed rate loan and then use that money to produce 20% or more returns.

  16. Yh ya right people does tell all kinda lies to make u feel everything is well and dandy when its not

  17. So true, keeping in touch with the real fact’s of Estate ownership it’s positive and negative outcomes is awesome_ thanks to the window creation of more sustainable careers.

  18. Hi Phil, thanks so much for all your videos (so much awesome information). I want to get into flipping properties because I believe there is money to be made but I do not want to have a property on my hands after renovating. Is it possible to secure a buyer before renovating? Thanks.

  19. Thank you for your valuable input Phil! You are amazing!

  20. Simply magnificent information put in a way that anyone should be able to understand .

    Well done !!!

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