If you or anybody you know and love is looking to buy and/or sell real estate in the near future, please don't hesitate to reach out HERE with any questions!
Cecil Cummins is an extremely bright young man who made smart moves early on in life. In this episode, we discuss:
DEBT!! Is it good? Bad? Neither? Cecil has the best perspective on debt and it is a game changer.
We talk about gamifying real estate and educating ourselves on what we can do to make smart investments, risk taking and how there are different kinds of people willing to take different levels of risk, and how it’s best we educate ourselves on our options!! Cecil explains what he’s working on with his current real estate investment endeavors, and how there’s a balancing act while taking all the advice out there on all ends of the spectrum.
Other topics we touch on are tracking our money versus budgeting, as well as going into depth about renting versus buying a home.
Links: @cecilcummins // @1LifeFullyLived // @DaveRamsey // @GrantCardone // @CathieWood // @Yuval_Noah_Harari // @ScottGalloway // @AndrewYang // @JoeRogan // @ElonMusk // @HowIBuiltThis with @GuyRaz // @JeffHoffman // The Morning Brew newsletter // The Economist // NPR // @spirituallynutritious // @seasyourhome
Books: Sapiens // Homo Deus // 21 Lessons for the 21st Century
Check out your local city government incentives!
Google Definitions:
Return on Investment (ROI): "Return on investment or return on costs is a ratio between net income and investment. A high ROI means the investment's gains compare favourably to its cost. As a performance measure, ROI is used to evaluate the efficiency of an investment or to compare the efficiencies of several different investments."
Mortgage: "A mortgage is a type of loan that's used to finance property. A mortgage is a type of loan, but not all loans are mortgages. Mortgages are “secured” loans. With a secured loan, the borrower promises collateral to the lender in the event that they stop making payments."
Refinance: "finance (something) again, typically with a new loan at a lower rate of interest."
S&P 500: "The Standard and Poor's 500, or simply the S&P 500, is a free-float weighted measurement stock market index of the 500 largest companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices."
Using debt to leverage an investment: "Leverage is the use of debt (borrowed capital) in order to undertake an investment or project. The result is to multiply the potential returns from a project. At the same time, leverage will also multiply the potential downside risk in case the investment does not pan out."
Cash dividends: "A cash dividend is the distribution of funds or money paid to stockholders generally as part of the corporation's current earnings or accumulated profits. Cash dividends are paid directly in money, as opposed to being paid as a stock dividend or other form of value."
Depreciating Asset: "A depreciating asset is an asset that has a limited effective life and can reasonably be expected to decline in value over the time it is used. ... Most intangible assets are also excluded from the definition of depreciating asset."
Surplus: "an amount of something left over when requirements have been met; an excess of production or supply over demand."
Deficit: "In financial terms, a deficit occurs when expenses exceed revenues, imports exceed exports, or liabilities exceed assets. A deficit is synonymous with a shortfall or loss and is the opposite of a surplus."
Illiquid Investments: "Illiquid refers to the state of a stock, bond, or other assets that cannot easily and readily be sold or exchanged for cash without a substantial loss in value."
Loan to Value Ratio: "The loan-to-value (LTV) ratio is a measure comparing the amount of your mortgage with the appraised value of the property. The higher your down payment, the lower your LTV ratio. Mortgage lenders may use the LTV in deciding whether to lend to you and to determine if they will require private mortgage insurance."
