Personal Finance Wisdom You’ll Hear No Where Else

The most valuable personal finance wisdom that you probably will hear no where else.

18 thoughts on “Personal Finance Wisdom You’ll Hear No Where Else

  1. What do you think of Robert Allen’s Books. 1 Minute Millionaire and
    Multiple Income Streams. I’ve read Millionaire Mind two times. 

  2. I suppose that I will just rent to myself just as long as I get the
    penthouse in my own apartment complex. That makes everything but the rent
    checks I pay my buisiness tax deductible. Hmmm . . . Thanks, Phil! This is
    a great video, no doubt! Rich Dad, Poor Dad is the book that got me looking
    into other business opportunities to include Real Estate. Just stay away
    from Robert’s coaching program because it is a total waste of time AND
    significant amount of money.

  3. 1) If you can buy your house without a mortgage with cash, still have
    enough money saved and invested so you can survive for a year without a
    job, and you want to live at that house for 10 years plus, then buy the
    house, if not just rent. 2) I really hope Phil doesn’t become one of those
    douchey youtube dudes that try to sell you something and then spam you with
    emails. If he just sticks to making videos and writing books, he will
    remain as one of the best real estate investing gentlemen on youtube.
    Thanks Phil for the advice because my dream is to become the best
    business/real estate investor that I can be. 

  4. Phil what’s going on man I’m looking to close my first deal I have access
    to incredible opportunities for motivated sellers and I have cash buyers
    all across the US I just honestly don’t know how to even make a call to the
    home owner or any of the process 

  5. Phil- Thank YOU SO MUCH! I’ve read The Millionaire Mind and as you’ve
    mentioned, it’s an epic combination of both philosophies. Stanley does an
    incredible job of substantiating his views with FACTS & NUMBERS!

    I think the audiobook is free on youtube.

    I feel like I’m off to a great start at 15, and a lot of it is due to
    priceless advice straight from you on a number of topics.

    Phil, right now a lot of family members think I’m crazy for not taking the
    road most traveled. I’m sure that after finishing college and doing this RE
    “thing” as others would put it was met w/ “you can’t do that” or “it’s one
    in a million”.

    I’m doing a great job of ignoring the naysayers, but do you have any advice
    on getting over the hump? I don’t want to sever my relationship w/ family
    members over my views, but I WON’T give in. Thoughts?

    Thanks~ John

  6. Phil, you were spot on until you bashed home ownership. If you are talking
    up your book of positive cash flow rental properties, then ok (I also want
    more rental units and more tenants to fill them). If you really think one
    should not be a home owner and just be a renter, then you are off the mark.
    James Altucher had the same position on home ownership, which I completely
    refuted.

    Your basic position is that all of the “downside” of home ownership, like
    taxes, insurance, repairs, etc. doesn’t exist for renters. Well, how do you
    think the landlord pays for that downside? From the rental income! The
    bottom line is that a renter is renting the property and paying for the
    taxes, insurance, repairs, mortgage debt, and net positive cash flow to the
    landlord. A home owner is renting from the lender the money to buy the
    home, and still paying for all of the other costs. The net positive cash
    flow for the landlord equates to the benefit of the home owner having a
    roof over his head. As far as ease of mobility for a renter, as a home
    owner I also have full mobility, because I understand real estate creative
    financing. I can move anywhere in 30 days without worrying about how to
    “get out” of my 100% financed home (down payments are so overrated).

    Everything else in your video is spot on and follows my teachings in my
    YouTube channel and websites. Wealthy people build or buy positive cash
    flow assets that pay for their liabilities (toys). Non-wealthy people use
    bad consumer debt to buy their liabilities (toys) that depreciate faster
    than their loan balances.

  7. This is the personal finance advice I wish someone would have told me when
    I was first getting started.

  8. Dude I love your stuff and content. You are one of the only RE investors
    that I consistently watch their 30 minute videos… keep it up

  9. Great video Phil. I totally agree a mixed of both views is key. That’s why
    when Dave Ramsey says invest in mutual funds to people with a net worth of
    500k I cringe. 

  10. I like how you said Both are right and Both are Wrong. Yes I have read
    Millionaire Mind as well. I love Kiyosaki. I didn’t know people felt so
    strong about Millionaire Mind. I’ve read that a few times. 

  11. I love your enthusiasm , I want to get to invest in real estate in Los
    Angeles. How do I start ? Should i get my real estate license first ? And
    start saving ?

  12. Thank you for your response. Yes, I don’t consider myself a novice. I was
    wondering if you could do a video and give advice for more experienced real
    estate investors. I haven’t seen any. If you already have done this then
    great, I’ll check it out.

  13. I completely disagree with renting instead of buying. You read Rich dad
    poor dad! Why would you be leverage for a landlord!!!??? Buy a very
    reasonable home and pay it off instead of throwing money away on rent. Not
    good advice my man. It is almost always more $ to rent in most markets
    because people are scared to buy and the landlords know that!

  14. Hello I’m from St Louis and their asses 2 family duplex if I said it
    correctly down the street from my mother’s house and I’m thinking about
    turning it into rental property but I’m deep in the ghetto I mean deep in
    the ghetto I’m talking about whole street on both sides of the street
    vacant houses and it is a poor neighborhood would it be wise to invest in
    flipping houses or should I think I’m more into renting or leave it alone

  15. I have two rental properties and I am looking to buy a third so I don’t
    consider myself a novice real estate investor. All these real estate videos
    seem geared to novices so I am not learning anything new. Can you do some
    videos for more advanced real estate investors?

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