REIal Talk hosts ask kids basic real estate questions like what a mortgage is and how much houses cost. The children give hilariously wrong answers, guessing rent ranges from $50 to $3,000 and confusing rent with paying someone else's mortgage.
What is a mortgage?
A mortgage is a. Come on, brain. I don't know what any of this is.
What would you guess it is?
Somebody's property. The height of the houses. Alright, Liam, do you know what a mortgage is?
What's a mortgage on a house? What is it?
The feet.
The feet of the house? No. Jordan, do you know what to mortgage out of house is?
Yeah. No, that's hard question for me.
You never heard like mommy daddy say, I got time to pay the mortgage. Okay.
Is it the roof?
Yeah, it's part of the roof. Yeah.
To pay for our houses.
People, what do they do during home inspections?
When somebody buys a house, somebody comes in and finds and finds and finds parts that are not supposed to be there in the house they see if you have any on my side. And things in the house. Work. Work.
What kind of work?
Selling.
What do you think? What are they doing during inspection? Are they looking for anything?
Looking for houses. Looking to sell. And I know the word, but I can't remember. Look through homes.
How much do you think houses cost?
Millions or thousands of dollars? I know. More than a thousand. A thousand a minute. A thousand dollars. A thousand dollars.
Dang.
I'm trying to buy that house. 4,000. Hey, guess what, Daddy, it's more than 4,000. You know, when I grow up I. When it work.
Okay, that's good.
Probably like 1,000 to like a hundred.
How much do you think rent is?
Maybe hundreds or thousands of dollars? Yeah. Fifty. Fifty. Fifty dollars. No, a thousand. A thousand dollars. Three thousand. Okay, 900. Maybe like $200.
How can you keep a person renting a house happy?
By taking good care of it and fixing the things that got messed up in the making it free. Well, that's one way to do it.
Make them happy.
So they don't have to pay. Keep it clean.
How can you make money in real estate investing?
I don't know. You can sell a house for more than you pay for it.
That'll work, man. All right, thank you, sir.
Bye. You have to pay, so you have to give them money.
But how do I make money.
Working? By working. Okay, by working. What does a microphone do? Invest in more houses. Where?
Bloopers.
Are you ready?
No.
All right. Put your hands down. I got one more question for you.
What? Dad, give me some coffee. Coffee. Give me that coffee. Did I do the video?
Yep.
I paid it to me.
Rent is when you give your house to someone else that pays your mortgage for you.
I knew that a lot. Hey, what are you doing? What's up?
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