Buying a $900,000 Dream House at Age 25

[00:04] cafe I just signed officially signed the counter offer for my house now I'm officially in full pursuit of my new house uh I'm now in escrow you guys

[00:16] don't know escros it's basically where you have a third party that holds either funds or documents and then and until the conditions have been made then they will release the funds they will release the documents in my case on the bu side

[00:30] they're going to hold the funds my earnest money deposit and then on the seller side they're going to hold the deed to the house and once the approved fully approved for my loan

[00:42] officially get the keys and the seller will get the money now to give you guys some context as to how I'm getting the house how I'm getting approved for a loan uh it's a bit different well it's actually a lot different than a

[00:55] traditional loan or conventional loan people that have normal jobs I'm a business owner so I don't have steady income I don't have a guaranteed income even if I make more than the average person I still have a harder time

[01:10] qualify for loan because I'm not showing as much income because I can write off so many things now this isn't good because Banks and institutions they see rates are generally going to be higher and the down payment amount is going to

[01:26] be higher so I'm going in with what's called a bank statement loan so I'm GNA called a bank statement loan so I'm GNA get qualified for this house based on my bank account all right so the title company just asked for the earnest money

[01:39] deposit and that's generally 3 to 4 days after signing of the offer so they send an counter offer I went in and signed that we agreed upon a purchase price so

[01:52] that we agreed upon a purchase price so they just asked for 26555 just wired that from my Robin Hood 26555 just wired that from my Robin Hood account right here so it should get to

[02:06] account right here so it should get to them in a few days and tomorrow I have them in a few days and tomorrow I have the uh

[02:19] of now are running really smoothly as of yesterday I just receiv received my yesterday I just receiv received my inspection report for the the house itself from the interior to the exterior

[02:36] nothing wrong with it so I had to send in a bunch of financial information I just got my buyer package my buyer opening package this morning uh they had

[02:48] me sign this let me just show you so right here we have the preliminary report receipt and approval so this right here is the preliminary change of ownership report so this is just basically stating that

[03:03] they're changing the ownership of property I signed the loan document which basically confirms the purchase price the interest rate the amount down that I'm going to put so as you can see this is the loan application for my home

[03:20] to what's going on I just got off the call with my realtor and my loan is still not approved we have haven't removed any contingencies on the house and um at the

[03:36] moment the seller is getting a bit antsy and they want to proceed with the process and we can't do anything because the loan hasn't been approved so as of the loan hasn't been approved so as of now we just removed the appraisal we've

[03:48] removed uh everything but the loan contingency so we're just waiting on that so what my realtor is doing right now he just called me to explain that he including the loan contingency because if he removes the loan contingency we

[04:03] remove all the contingencies and uh the loan doesn't contingencies and uh the loan doesn't get approved then I lose my 27k deposit so we're just trying to stall and hold off I was expecting a call from my loan

[04:16] agent today they're working really hard to try and get this loan approved it's nothing on their end it's more of just convincing the uh investor that I am qualified enough to pay for this house they're going to be skeptical because

[04:31] they're like what's a 25-year-old kid buying two houses for why does he need two houses how can he afford this he doesn't have a conventional job so makes

[04:43] sense for them to be a bit skeptical it's taking really long and I mean it's December 19th right now all right guys bit of an update but the last time that bit of an update but the last time that I was here uh we were having issues with

[04:57] I was here uh we were having issues with the loan approval and this morning my my real estate agent sent a text from the agent on the seller side and basically what they said was good morning Logan Mary has issued a notice

[05:11] to perform hopefully you will get approval today please let me know thanks approval today please let me know thanks Logan they stated that as of last Monday approved now it's Monday the following

[05:23] week my agent texted me he said Andy do you have ho6 insurance for the inside of you have ho6 insurance for the inside of the condo Logan Logan says that you have conditional loan approval so I have conditional loan approval so I mean this

[05:37] I'm probably going to get the loan approved uh they're going to be based on certain conditions so my loan agent is going to call me at some point and just let me know what these conditions are

[05:50] hopefully it's nothing too crazy all right so I just finished surfing and I miss I got a Miss call from my loan agent so I'm going to give him a call back and see what he has to say okay well the good news is we do have loan

[06:02] approval we're out of suspense and the only issue at hand is one of I think it's just clerical uh clarification on the Robin Hood account it says margin but you're not that's not a margin account right because the

[06:17] processor as a matter of fact also has a Robin Hood account and his also says margin uh yours are not margin account accounts these are funds that can be used readily whenever you need them correct yes exactly I just put my funds

[06:30] in there because uh I was getting apy it's a percentage um that they give you based off of how much that you put in there money sitting in the bank I'd rather just put it into there but it's totally

[06:45] liquid okay totally liquid and it's not margin margin typically means that you borrowed against the account to purchase additional stock all those monies are your monies nothing is out of margin cor absolutely okay good that's how we need

[06:59] going to be closing so I'm just waiting for her to call me back all right and we do have loan approval I do have it in writing that the loan is approved but conditions you never have an unconditional approval very rarely uh

[07:14] but yeah but there should be nothing in there that would stop us from closing there that would stop us from closing see take care bye you too gosh okay we got that's the live confirmation that we got conditional

[07:29] loan approval that's like the actual loan approval he just stated that rarely loan approval so basically we're all good to go we're locked in what is up good to go we're locked in what is up guys surprise surprise it is now I mean

[07:43] I don't even know why I should be happy I'm kind of happy but it's January 2nd I don't even know how to express what I'm going through but it's like the biggest headache the biggest pain in the ass that I've ever been through in my entire

[07:59] life I got off the phone with my loan agent again know it's like five calls a day so they're literally coming with me with the most insane requests like what

[08:11] they're asking for is so first of all they ask for three things they ask for my social security card which I don't know why I didn't have to do that on the last loan so they're asking for that they're a also asking for a bill that

[08:26] shows and proves that I own my other property so they wanted any form of bill that I have that has my name on it and then they want the Robin Hood statement showing that I had cleared the payment and that that payment for the earnest

[08:41] and that that payment for the earnest money deposit wire was in fact from me you can see I just sent that guy in there the unest the earnest money deposit the AMD wire statement 2 hours ago and then on top of that they also

[08:56] ago and then on top of that they also wanted bank statements with my bank showing that I had deposited I forgot I could zoom with this lens showed that I deposited that money he said like we should be good now

[09:10] pre-approved I feel like this is like an evergoing Loop that we're going through going to get it and then something pops up and then something pops up hello Logan hey how you doing buddy good how are you okay so the interest rate

[09:25] because it is you know a bang statement loan ET the rate is 8% but we're hoping there's no prepayment penalty on these loans Andy so maybe months from now six months from now uh once the uh rates come down we

[09:42] at least you know we're getting you in ETC yeah I'm I'm okay with that and that ETC yeah I'm I'm okay with that and that was actually expected so I I went in understanding that that was probably going to happen all right guys I don't

[09:56] even know where to begin but all to say is today has is today has been the biggest weight taken off of my shoulders let me just put this 50 lb camera on the tripod and briefly explain

[10:12] what has been going on finally actually some good news the best news that we've had the entire date of filming today I finally

[10:25] got my loan approved 100% we we have now just removed 100% we we have now just removed contingencies on the loan so we are all good to go I got my loan disclosures got my loan

[10:41] estimate um yeah I'm going to pull over the camera in a second but I do want to just briefly explain what has been going on so I think the last time I got on the camera I had told you guys that everything was good to go and we're

[10:56] everything was good to go and we're ready to get that loan approved and then just yesterday we were having issues because of an account I don't remember exactly what happened but uh basically they needed more information send that

[11:10] in and as of yesterday the agent on the seller side was like Hey like what is going on why is it taking so long and they're threatening to cancel and we haven't removed the final loan contingency so if they were to cancel I

[11:23] lose the house and all this time that I've been putting into this so I'm going to show you the closing disclosure documents I'll show you like if I can I

[11:36] none of that stuff because I want to save that for the end but if I can flip this around closing but if I can flip this around closing disclosure documents January 7th then we

[11:49] got that loan estimate which was yesterday we did get that loan estimate yesterday but it didn't confirm that the loan was 100% good for us to remove the loan contingency a this is really exciting stuff guys this has been the

[12:04] biggest uh weight taken off my shoulders because it's just been a hassle now I'm 100% going to get the house as long as I pay which of course I'm going to pay shanuk aerial support arrived as the crews found Shelter From the Flames it

[12:18] crews found Shelter From the Flames it is January 10th today it probably shouldn't be outside uh air quality is not the greatest right now I don't know if you can see there's like ashes falling down because of the

[12:31] fires air quality it's a little bit better than yesterday but right now in better than yesterday but right now in La we're experiencing fires in the Malibu Palisades area it's going all the way up to the Hollywood Hills

[12:46] way up to the Hollywood Hills Altadena all of La is getting burnt so the air quality 129 right now so it's a little bit better yesterday it was 1 like 90 fires are going crazy we got it amber

[13:01] 90 fires are going crazy we got it amber alert at like 4 a.m. this morning if I can give you guys a bit of an update but my loan agent Logan called me about

[13:13] my loan agent Logan called me about let's see like an hour ago and what he let's see like an hour ago and what he said my loan is not going to be able to get funded and basically the lenders backed

[13:26] out the investors backed out because of what's going going on with all the fires it's extremely high risk and basically no one not a single lender regardless if we went to try and find another one is willing to give out any loans right now

[13:42] so no funding and then on top of that Geico the insurance policy that I initially got my quote from they're not going to be giving out uh insurance policies either so I can't even get my house

[13:55] insured even if I want it to this is the craziest timing ever there's nothing I can do on my end but the thing but the thing is the sellers could cancel but I just

[14:10] this is something that is not in my hands obviously I can't control what's going on this is natural disaster that I wouldn't lose my money if we went to wouldn't lose my money if we went to court now this is just if the seller

[14:25] decides to cancel but the thing is what he said is even even if they cancel and they have another interested buyer that that buyer isn't going to be able to get the loan funded nor are they going to be able to get insurance for the house uh

[14:39] because of what's going on right now I've just been in shock for the past I've just been in shock for the past hour my heart's out for all the people that are going through crazy circumstances people

[14:52] losing their lives people losing their houses it's houses it's honestly so sad this is like this series of unfortunate events just when I thought like we're

[15:04] all good like pulled up the camera two days ago we're all good and getting days ago we're all good and getting ready to prepare hey what's up guys uh sorry I don't have my 4K Sony camera with me right now I'm just on my iPhone

[15:18] with me right now I'm just on my iPhone but I just got off a call with another try another insurance company so I just called Goose head never heard of them before and they were able to get me a quote I was just I like literally asked

[15:32] him like Hey Geico didn't want to Ure me are you guys having any issues and they said I'm about like 30 mil away and they're like okay well that shouldn't be an issue so uh they got me a quote I signed the documents and I sent over the

[15:47] quote to my loan agent I also gave the contact of my loan agent so they contact of my loan agent so they contacted him as of now he said that now we're going to see if the lenders are willing to to uh proceed with the loan

[16:01] now that we have coverage so now it's just a waiting game and for now it's pretty good news I would say all right so there's a moror in place uh and I assume that that's not going to get lifted until there's like 100%

[16:16] containment of the fires right in La no it's not 100% so it it varies because it's based on your ZIP code because it's not only La a lot of different zip codes are having it affected all right so I just got off the phone with guy Co and

[16:30] yeah it's confirmed there is a moratorium which is basically a pause period where they aren't issuing any new policies they're not uring on any new houses So the plan right now what we have done is I just signed

[16:46] have done is I just signed documents for a it's basically like a placeholder uh policy so I found another company it's Goose head and we got our company it's Goose head and we got our loan application complete

[17:04] thing complete what I spoke with my loan agent what he said is that we should just get someone that's willing to insure because you can't actually get a just going to use these guys as a placeholder after that once we close

[17:19] placeholder after that once we close escrow we're going to literally just escrow we're going to literally just cancel he spoke with the seller and willing to wait because they know what's going on they understand this is a grace

[17:32] period everyone's essentially on pause lenders are on pause most insurance companies are on Paw the lenders they're just super anal and they are just seeing the news and everything looks negative and you know he even sent them a

[17:47] geographical location of where the property is located in correlation to where the fires are we're about like 35 30 Mi away so yeah either way they're

[17:59] going to hold off air quality seems to be getting better it's clear there's not Ash flying around anymore so things seem like they're doing better we're just hopefully by the end of the week things clear out and we can close on the

[18:16] property I guess like the good news is that the sellers they are being more that I'm doing everything that I can to get this thing closed to close escrow something that's completely out of my hands that's good that's kind of like a

[18:31] relief taken off my shoulders I don't have to stress too much it was kind of they going to cancel am I going to lose my $30,000 deposit earnest money deposit which is logical like why would you want to just cancel and then have to find

[18:46] someone else to close today so you should be signing loan documents in should be signing loan documents in Tuesday and closing next week so thank Tuesday and closing next week so thank good ridd oh man you're the best you are

[18:58] good ridd oh man you're the best you are a trooper you saved me yeah Rel for me didn't fail you and I'm glad we're going forward okay yeah and I apologize I I really feel bad for you because you you put in so much work and yes it's been

[19:12] tough I can't I can't think of a nicer person to do it for okay appreciate that yes finally you heard it first I just got off the phone with my loan agent lighting was really shitty apologize I was literally just picked up

[19:27] my camera saw that he was calling in recorded but anyways good news finally oh my gosh this is insane like

[19:39] this is the most insane process that I've ever been through I didn't think it would get worse than the last one and this one's 10 times worse but yeah it looks like Logan got it done he said that we are cleared to close the fire

[19:55] situation has gotten a lot better if you can see that that as winds lightning firefighters push to contain Los Angeles wildfires so it looks like things are getting close to the area that I'm purchasing the house so the people that

[20:09] are going to fund the loan they are realizing that and they have cleared things so that we can proceed with this closing date get that loan funded and finally get my keys so I got a message today from my real estate agent he

[20:23] texted me today 3:48 p.m. and said hi Andy Logan says we got clear to close but it's not going to fun until Wednesday he said he spoke to Mary and amazing news thanks for letting me know so I assume I won't be getting my keys

[20:38] closer to the 24th closing date right it's not going to get funded until Wednesday today is January 16th so that would be

[20:50] the 202nd I believe that's when the loan's going to get funded and he's saying that I will get my keys the day after that which which would be the 23rd if everything goes right all right guys so

[21:04] right now I just got an email they're giving me instructions so this is wiring instructions to send the money send the wire so the remaining amount for the down payment and basically I'm just going to go right now try and get to the

[21:18] nearest Starbucks which is 8 minutes away going to sit down open my laptop away going to sit down open my laptop open that email up um and then call Escrow to confirm the account that I need to send the money to because

[21:30] there's a lot of uh scams that happen with this process so just to confirm the account that I need to send the money to uh the exact amount that I need to send I also at 8:00 p.m. so in a couple hours the notary is going to come to me and

[21:45] the notary is going to come to me and I'm going to need to sign final documents any loan documents good afternoon First American Title how I help you hi there I would just like to confirm wiring instructions for the

[21:57] account number and r number hi this is irn yeah let me grab it real quick cool okay sounds good and then uh Jessica will be meeting me for the signing for

[22:09] the yes for the loan documents and she's going to drive it back to to my office already arrange that with her Perfect all right thank you every appreciate it take care bye bye bye all right so it's confirmed now I

[22:23] bye all right so it's confirmed now I just need to send the actual wire let's just go through that process the most you're allowed to send in a single you're allowed to send in a single transaction is

[22:39] 50,000 oh my God are you kidding me are you serious right now uh I need to wire more than $50,000 okay so then um you can change the limit online um pretty much it's very simple are you logged into your

[22:54] online account now I can let you know where to go it be effective immediately that is it um that's all I needed I really appreciate that that helps me out lot yes sir that's what we're here for

[23:06] part of Chase you have a beautiful day thank you too byebye if you would still like to all right that was a pretty simple fix okay so let's do it now we simple fix okay so let's do it now we are going to proceed with the wire let's

[23:20] go next all right so does everything look next all right so does everything look okay we got the entire amount right

[23:32] there schedule wire so see does everything look okay yep yep so see does everything look okay yep yep yep now in a few hours about 2 and 1 half 3ish hours I'm going to meet with the notary and then I'm going to

[23:47] basically sign the final loan docs and as he said it looks like we're nearing towards Friday to close so this is a copy of what's here yes everything that copy of what's here yes everything that you sign is here okay that's good then

[24:01] we're all good to go appreciate it all right so we just finished everything with signing the final loan documents got all my copies all

[24:17] disclosures everything right here so I'm going to detail all the amounts cost everything on

[24:29] paper inside of the new property so we're getting closer and closer we're pretty much almost there guess last thing that we need to do is tomorrow is the final walkth through loan hopefully will get funded by

[24:43] tomorrow and we'll be able to move in that was a and we'll be able to move in that was a long time was 38 minutes of me signing

[24:58] documents all right so right now we are on our way to the final walkth through house and make sure that everything is all good to go what exactly are we doing myself we're doing the final walkthr make sure everything is the way you

[25:12] purchased it okay so we just basically if there was something that was wrong with the place and I noticed it we just have a work order we just put it on the form and send it back to him and then we'd ask them to fix it okay but we

[25:25] already know it's a really nice property they kept it pretty well we can sue them make some more money maybe get a free house all right so let's start with the house tour the last time I filmed this there was no electricity or water

[25:39] so we just got lights like 10 minutes ago so I'm redoing the house tour so ago so I'm redoing the house tour so here we are at the front door and as you enter you have a room on your left and then the garage so let's start with the

[25:55] garage uh open it's on light there's light okay so you got my car here we just got the guy to install the Tesla

[26:07] charger so I can plug up this bad boy boy and yeah so still moving process uh the couch didn't fit so going to be able to use that going to clean up all these

[26:21] boxes in a second but let's now go into first room the bottom room go here and it's weird cuz like

[26:35] some of the lights are working so I just need to call need to call Edison but yeah here's the bottom room just through all my stuff here for now we have of course the

[26:51] we have of course the bathroom then go up the stairs all the floors are all the floors are nice wood floors which is really nice

[27:05] easy to keep clean then here's the second floor we're met with the living room and then also the kitchen over there so it's

[27:19] then also the kitchen over there so it's nice open lots of Windows just put this uh this dining table here and sorry it's all messy I I thought I would already filmed this but it just doesn't look good because there

[27:33] was no lights so nice sizable little kitchen going to get the fridge tomorrow so everything is pretty much tomorrow so everything is pretty much upgraded I got all my good stuff there

[27:48] Le crus sa if you know you know and then we got a little balcony right we got a little balcony right here if we go up we have the half b here if we go up we have the half b bathroom pretty standard go up the

[28:03] stairs so it's three stories four beds three and 1 half baths here is the full bathroom pretty basic first room on the

[28:15] bathroom pretty basic first room on the left or on the right uhhuh so this is the identical room as I said lights I don't think are

[28:29] room as I said lights I don't think are working in here so got to get that fixed uh we also have a washer and dryer a double stack the den double stack the den area and then here's the

[28:47] is really nice all the rooms have very very high ceilings really cool we got the closet then we have the bathroom closet then we have the bathroom here it's turn on so that's the

[29:03] shower bathroom double sink and yeah that's pretty much the main gist of the house all right guys so here we are in the little makeshift Studio what you

[29:17] guys have probably been waiting for the whole financial side in exactly all the numbers and I want to detail that all to you detail that all to you right now now this has been guys just to

[29:33] get to this point you know it's been crazy process so let's go through everything together where should we start so let's together where should we start so let's do uh the loan amount or the loan

[29:48] details because as you guys know I took a mortgage out of on this property so the total loan amount for this house ended up being

[30:04] the property uh in terms of the loan at an 8% interest rate so I initially got quoted at like a 7.7 7.8 but they ended up increasing it 7.7 7.8 but they ended up increasing it to an eight which sucks uh but it is

[30:19] mentioned that I can refinance once I lock it in so it's all good the cash to close on the property so how much I needed to close uh was $1

[30:32] 161,162 58 that was the remainder that you guys 58 that was the remainder that you guys saw me wire and the closing cost was saw me wire and the closing cost was $1,295 15 so I actually got a 1% credit

[30:45] have to give a massive shout out to the verman team they gave me $99,000 in credits which is it's unheard of so they really really appreciate them

[30:57] uh if you guys remember our earnest money deposit what I our earnest money deposit what I initially put down was $

[31:12] 26,5 right so if we just calculate I don't know if you can see 50 so if we just calculate how much I put down in total thus far to step foot

[31:27] put down in total thus far to step foot into into this property the total is

[31:51] today let's pick up the phone 12425 I didn't even see that so they updated the MLS which is super updated the MLS which is super sick so let's just look and see like

[32:06] sick so let's just look and see like what they priced this at so okay here's what you'll be able to see so you can see right here it was first listed for sale for $929,000 then from there they changed

[32:18] the price to $88.99 and then that's when we inputed that counter offer so I'd mention mention at the beginning of the video that we inputed an offer the offer was

[32:33] $885 that was our first offer and then they counter offered us at $8.95 and know I'm just going to accept it I don't want to chance it and we'll just roll with it now let's cover how much my monthly mortgage is or

[32:49] how much I'm going to need to pay each month in order to legally live here month in order to legally live here without them taking the property away so let's see so let's go with my monthly principle and interest so this is how

[33:04] principle and interest so this is how much uh my mortgage is before before much uh my mortgage is before before taxes so let's see if you can see that taxes so let's see if you can see that we are at if I can read backwards $

[33:20] 72 that is my monthly uh principal and interest and then on top of that estimated escrow so for taxes is going to be

[33:36] mortgage with everything included you can see right there $6,279 59 so that's what I'm going to need to be paying every single month to stay here it just feels so good to finally be

[33:51] in the property and be able to touch things and be like wow this is actually mine this is uh you know feels feel very surreal and I'm just very grateful for everyone that helped make this happen because you know through all the trials

[34:05] and tribulations that we went through we managed to get things done and I'm very appreciative of Logan my loan agent and the verman team my real estate agents really helped me throughout this process made it really easy for me hey guys so I

[34:18] wanted to talk a little bit about why I got this property because uh yeah looking at the numbers it just doesn't make sense for most people getting a make sense for most people getting a $6,200 mortgage and in total probably

[34:32] like $6,500 liability a month for a single person so uh before we get into that I do want to talk a little bit about the specs of the property I showed you the house itself but it is a four bedroom 3

[34:47] house itself but it is a four bedroom 3 and 1 half bath house condo and the square footage is 9 1910 Square ft so four bedroom rooms three and a half baths I am one person so you're probably thinking like why the

[35:02] so you're probably thinking like why the hell is a dude getting a four bedroom house if he's only one person so on my other property I ran out all the rooms and when I first got it mind you it's pretty much the same exact it's actually

[35:14] this house that's why I got this one because it worked out so well with the other one four bedroom three and a half bath I first lived in the house because it was an owner occupied loan or PR most was my primary resident so I stayed in

[35:29] was my primary resident so I stayed in that property for uh the first year not really but I stayed in there for a decent amount of time and then I rented out all the rooms after that and then once uh I left I just basically travel

[35:44] like I normally travel I'm someone that travels about 90% of the year maybe even more than that because I just love it so much I like I mean I work online so it want to explore new places so with this property I'm looking to do this the same

[35:57] thing stay in here for a bit because I got it as my primary residence and owner got it as my primary residence and owner occupied loan um and then I can either rooms when I plan to travel so I'm just trying to figure that out I don't know

[36:13] how long I want to be here I don't know how long uh I'm planning to travel or where I'm planning to travel so for now I'm just kind of uh contemplating I'm just really focused on getting everything inside the house situating

[36:25] everything um and making it homey and and livable really and not to say that and livable really and not to say that it's not livable already but yeah and then I do also want to mention that this isn't my forever home this isn't a house

[36:38] that I plan to stay in for the rest of my life or my other property as well stones to get to where I want to be I want to live in Manhattan Beach which is

[36:50] Manhattan Beach Rosa Beach which is about $10 million away but uh if you guys know La uh it's a very sought out area it's quiet it's nice lots of good

[37:02] Surf and Good Vibes and that's why I like that area now the average home in Manhattan Beach California is around $4 million and then you have houses on the Strand that are all like 1020 million on the coastline so my goal or my plan is

[37:21] to work my way up and instead of just leaving my money in the bank or you know leaving my money in the bank or you know putting in S&P 500 um index funds things like that I want to put more of my money into physical assets hard assets that I

[37:36] can feel that I you know worst case I can live in so it's nice to have something like this and I can either actually sell my house and basically get

[37:48] to the point where I build equity in it and I move my way up and use those profits to move into a house in Manhattan Beach but right now it just doesn't make sense for me because let's just say I want to move to Manhattan

[38:01] Beach right now 20% down on a $4 million house and then on top of that the house and then on top of that the mortgage would be like 20 to 25k which doesn't even make any sense 20 to 25k a month as a single dude and I don't have

[38:15] a family to attend to I don't have any travel as I mentioned I don't want to have a $20,000 liability that's tying me down to location right here 6.5k a month and then my other proper property that's

[38:31] manageable and it just doesn't make sense to have this crazy liability for a to stay at so that's kind of like my thought process and more than anything you guys saw that 8% interest rate was crazy my monthly is still pretty high

[38:46] crazy my monthly is still pretty high here for an $895,000 house but the whole idea is to lock in this property at this 8% interest rate that's fine and then once rates go down hopefully they go down let's just say it goes down to like

[39:00] a 5% then I can refinance lock in that 5% and then from there my monthly morgage would go from like a 6,500 to like I don't know like a 4K a month mortgage which would allow me to cash flow if I were to rent out each room

[39:14] which makes most sense maybe I make another video talking about me going renters how I go about doing that how I did that with my last house and why I rent out each room specifically instead of the whole entire house house to one

[39:28] family or one person it just you know makes more sense I can make more money something from this process I just wanted to be as transparent and straightforward and upfront with you guys as possible so you can see exactly

[39:41] what it looks like and not only to buy a house but someone that is on the younger side someone that doesn't have a traditional conventional job and to give light on that and you guys saw it's a crazy process a lot that has I had to go

[39:57] through but honestly like to me it's so worth it like my loan agent called me worth it like my loan agent called me this morning he's like Andy we won we had some Battle Scars but you know it was all worth it in the end so yeah I'm

[40:10] very happy I appreciate you guys for coming along tagging along and watching throughout this process I'll catch you in the next video peace