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Old 02-20-2020, 01:24 AM   #4 (permalink)
Xist
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He is friends with the guy who made the video claiming to get a Model 3 for $78 a month. However, the friend didn't, but he made tons and tons of money off of the video.

Meanwhile, Kevin posted a video months earlier about saving $25,000 on a Model S. He said all of the same stuff, but without the clickbait title, and hardly anyone watched it.

So, he uses clickbait. If he gets as bad as Shouty, I will stop watching him, too.

Quote:
Originally Posted by freebeard View Post
  • How I Bought 6 Houses Telling the Government I Lost Money
  • Multifamily Real Estate 101: Cashflow like Grant Cardone & Ben Mallah
  • How I Trick Banks who Deny Me into Giving me Money
  • How I Built 9 Income Sources That Make $159,233 Per Month
  • Make Money off New Real Estate Rule Scamming
He did lose money. He used to be a licensed contractor and thought that it would be great if, when he told his clients that if they did a, b, and c, it would increase their home value $x - y, he could say "I have some guys that will do it for you, you will not find a better price anywhere."

He grew the business too big too fast--a dozen employees, and closed shop. Harvard found that most contractors do not expand beyond a couple of employees.

He reported a loss on his taxes, but since he closed down the separate company that was a financial loss, the lenders ignore it, which was how was able to qualify for mortgages.

The second video is over half an hour long and he mentioned in the previous video that far fewer people watched the same information that he gives in his paid courses.

I am not summarizing 31:02, but the title isn't clickbait or confusing.

"How I Trick Banks who Deny Me into Giving me Money." That one is misleading. He doesn't trick them, he persuades them. He starts out with the rule of 234, for every $1 of debt, you need $2.34 of income to balance it out, but when he bought his Model S, he put it in his company's name, and financed it at 1.49%. When he applies for a mortgage, they don't see the company's liability.

He said that banks don't want people with 850 credit scores, those people don't spend money like those with a 740.

He doesn't write off expenses because it lowers his income, and he can't qualify as well. He depreciates them over three years, which doesn't count against him.

Does it reduce his tax liability as well as deducting?

If he is denied at one bank, he applies elsewhere. He needed to apply to seven places to get his first mortgage.

So, a couple of tricks to appeal better to banks.

"How I Built 9 Income Sources That Make $159,233 Per Month." Does that sound like clickbait? He is a realtor, he receives money for referring clients to other realtors, he has a YouTube channel, he receives ad revenue, he owns rentals, he sells courses, he does in-person classes, and he receives dividends from his stocks and interest from his Wealthfront account. He also receives enough money from his affiliate links to buy food for his family.

He promises to not sell anything at his classes, unlike everyone else.

He counted buying properties at a good deal and improving his net worth as income.

Okay...

"Make Money off New Real Estate Rule Scamming." The Realtor Association tried to solve the problem of realtors delaying putting homes on the market. The sign out front says "Coming Soon" and so does the listing on sites like RedFin. If people want to see the house, they need to go through the realtor selling it, and he receives double commissions.

Now the Association requires realtors to list homes within one business day. The loophole is that if you reach out to the realtor before they are required to list the home, you may be able to buy it cheaper, while the realtor gets double commission.

Is that a scam? No.

It is a loophole.

Another clickbait title.

You are surprised that the comment section is cancer?
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