Do NOT Rent Your Own Home? ⛔️

Do not rent your own home. All these American gurus telling you to rent and not buy. Well, that's America. And I always wonder, if you're an American guru, deca-hundred-millionaire, billionaire, zillionaire, squillionaire, surely you can afford to buy your own home, can't you? Why would you rent? Doesn't make any sense to me. So I'm going to share with you many reasons why I believe if you get yourself in the position where you can buy your own home. You should absolutely buy your own home and not rent your own home, and be careful what some of these wannabe gurus say. Now look, caveat, depends on where you live. If you live in Germany, nowhere near as lucrative to buy your own home. If you live in America, probably not quite as good as living in the UK to buy your own home. Always do your own diligence and research. However, in the UK, properties double every 10 to 15 years. They have since 1088. When all land and property values in the UK combined were about £1 million. That's less than the house that I live in. So puts into context the real proven growth that has happened. If you go back to the nationwide house price data since 1952 when it was started, you'll see that property started at under £2,000 or £3,000 on average, depending on whether it was in or out of London, house or flat. And now of course they're hundreds of thousands. So if you rent and don't buy, then you are losing double capital growth every 10 to 15 years, and someone else is gaining that. That's reason number 1 why you should buy and not rent. Reason number 2 is when you rent somewhere, you don't like it, it's not a home, it's not a good, good feel. And I think having this oasis, this tranquility of somewhere that you can call home, where you can work from home, where you can raise a family. I think that's huge. And if you rent, you can get kicked out after your 6-month tenancy. It costs you tens of thousands of pounds to move with the removal, all the reconnecting, all the internet and all of the supplies and everything else. And you know, you could end up— you might as well just get a caravan if you're going to move that, um, that often. So that's another reason, number 2. People never tell you about that. You know, having someone where you can call home, where you've made it look lovely, where it's yours I think that, you know, like a king in his castle or a queen in her castle. I think that's a huge benefit. Number 3, and this is a massive one, and the gurus don't tell you this shit. When you have a mortgage, do you know the upside of having a mortgage right now? Inflation. So everyone's moaning about inflation and how it's killing the value of your cash. Your cash is going down 10, 15% plus, whatever it is, with inflation and quantitative easing and the government just paying off their own debt by printing money. Well, when you have a mortgage, they pay your debt for you. So let's say you had a £100,000 mortgage, and let's say the real value of money has gone down 15% this year, which it's got to have. The government have just paid £15,000 off your mortgage in real terms for you. So I think that that's a massive thing. Huge. People don't tell you that shit. Also, if you buy your own home, you have security because you have collateral at which a bank will lend money in case you need a mortgage, or you might even need a loan one day, hopefully not. You'll be on the electoral roll, you'll have, you know, better credit if you own your own home and you're paying a mortgage. And then if anything does go wrong, you've got a fallback position, you know, you've got equity in the property that you can rely on in case of a, you know, a rainy day that you might need. And that's very bloody valuable. And these are the things all the gurus don't tell you when they say you should rent and not buy. Now Let me think about why would that— I don't know why— scratchy scratch. Just picked up some supplies for my kids for movie night. So why would they say— I'm trying to get my head around it— why would the American guru say rent, don't buy? The only thing I can think is that they would assume that you're going to use the cash to invest and that your house is a liability. Well, if your house doubles every 10 to 15 years, which it has for 1,000 years in the UK, Well, from a capital perspective, it's an asset. It gives you credit score and security, which of course is an asset of a different kind. Of course, paying a mortgage is money out, and you could call that a liability. But with the government paying it down 10 or 15% in real terms with inflation, it's actually nowhere near the liability that they make out that it is. But that's to assume that that's the only money you'd ever have. So why don't the gurus who are apparently so rich Why don't they buy their own home and go and do joint ventures and no money downs and installment contracts and go and find— apparently there's infinite money in the universe, so buy your own home and go and find infinite money in the universe to go and do a load of rentals. Why would you only do one? You wouldn't only do one. So yeah, loads of reasons. Here's another reason why I don't think renting is great, because everything that you pay into the property, your landlord gets the benefit of. Your landlord gets the management and the maintenance and the upkeep of the property, and you do it up and you make it look nice. Your landlord gets the benefit of that, not you. Your landlord can kick you out at any time. You can't kick you out at any time. So by the way, I'd love to know what you think in the comments. Some of you said, what about the timing of the market? What about if the property prices crash? Well, look, you know, prices go up and down. They're not in a diagonal straight line as we'd all love. Or, you know, vertical line. They ebb and flow. However, over the long run they go up. But at the moment the stock market is down, um, 20.6% in the last 6 months, the American stock market. But the UK property prices are fairly high still. But if you're looking for short-term gains, you're in the wrong business, you know. Um, if you're not going to hold it for 10 years, don't buy it for 10 minutes. That's what Warren Buffett says. I can't claim that one, he's smarter than me. So actually, in the long run, it doesn't really matter about the fluctuation of prices. Now, of course, you don't want to buy somewhere you really can't afford with a massive mortgage that, you know, you really struggle to pay. Of course, that makes sense. So caveat, make sure you've got the affordability there. But I cannot see hardly any reasons why you would rent over buy. I really can't. And if you can't go and hustle and raise a deposit for a buy-to-let or a rental property, and you've got this savings and you buy a house and then you never make an investment ever again and never raise any money for a buy-to-let, you've got bigger problems. Problems of creativity, problems of resourcefulness, etc. Bigger problems. Helen has said renting is throwing away money. You know, oh, by the way now, mortgages and rents are not that dissimilar. So if rents are way lower than mortgages, which they used to be, I completely understand why from a cash flow monthly perspective, from an affordability perspective, You might want to rent and not buy, but now rents and mortgages have got very similar, so you might as well have a mortgage and be paying your mortgage down. And like I said, you know, here's the thing, most people don't get this. People are pissed off with the government. I am. Inflation is really high. Your cash is going down 10-15% plus a year. Every time they print those hundreds of billions, your cash goes down. But when you have good debt, when you have mortgages, your mortgages get paid down by inflation and quantitative easing. This is the massive thing. So imagine that, just make it round number nice and easy, imagine that inflation is 10% for 3 years. It really could be with the lack of supply of product, service, commodity, etc. going on right now. I mean, your mortgage in 3 years could be paid down 30% in real terms. This is freaking huge. Also, let's say someone said to me, well, Rob, you know, you're at the only 50 grand you've got, what are you going to do? You're going to buy, um, one house or you're going to buy one or two rentals? I'm going to buy a house, a nice house that's going to go up in value in the best area that I can find. It's always, um, worst house, best street. That's what you should always go for because then you've got the upliftability. Build myself my little kingdom. You could even Airbnb a room or two if you've got, you know, decent enough size. You can always be creative. And then I'm going to go and do JVs, partner up with people, do no money downs, borrow money from people to build other assets. Because having that lean mindset is really powerful. I was mentoring someone about this. You know, if you've got loads of money to rely on or a bit of money to rely on or a bit of savings to rely on, you're all nice and comfortable and all you just want is the safety net. That's what you call it, a safety net. Actually, safety nets can be really bad for your hustle, really bad for your desire and ability to go out there and make things happen. So I'd rather have a bigger lump of money in a property that I own and have that lean mindset and then go out and find money for buy-to-lets and investments. Yeah, these chocolates will melt in my hand. I'd love your thoughts, by the way. I've had my little rant. So quick summary if you've just tuned in. All these American gurus saying rent, don't buy, I don't get it. In the UK, I absolutely think you should buy your own home and not rent it. If you can't afford to buy a house and buy a rental, you have bigger problems. And these American gurus who are apparently millionaires and billionaires saying that they rent their own home, they don't buy it— well, surely they've got enough money to buy their own home and rent a load as well. Surely they've got enough money to buy 20 homes around the world. Why would you not? Loads of reasons. Number 1, your landlord can kick you out at any time. Number 2, moving costs are huge. Number 3, all the renovations and upkeeps, that's the landlord's money, the owner's, not yours. Number 4, you never really live in a home. Number 5, rent is dead money. Number 6, your mortgage, if you have one, is being paid off by the government with huge inflation right now. 6 compelling reasons there why you should buy your own home and not rent your own home. In England, we love our home, our castle. Our fortress. And actually, there's a lot to be said for having that base in which you can build your empire and your family. So I'd love your thoughts in the comments, by the way. Do you disagree with me? Do you want to tag in any of these American gurus who say that you should rent and not buy? Some people say to me, yeah, but Rob, you're friends with Grant Cardone, and Grant Cardone says rent, don't buy. Well, hasn't he just bought? Apparently, finally, after being worth, what, hundreds of millions, he's finally got it. I'd love your thoughts, let me know in the comments. Also, if you'd like to get better financial education and knowledge, you know, if you'd like to actually understand investments and assets, make income, leverage money, understand how money really works, you know, like that little trick of the government paying your mortgage off for you, make sure you go and join Rob.team right now. 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Let me do a quick summary for those of you that have just tuned in, didn't hear the start, or go back and watch the start. All these American gurus saying you should rent and not buy, I think it's utter nonsense. I don't think they've done enough proper research. I think that they don't understand the laws of money. Because to say you're better to rent and not buy is to assume that you'd only ever have enough money in your life for one property and then you have to choose. But I mean, fundamentally there's enough money in the world for us all to be millionaires, so that's such a scarce mindset. So here are 5, 6, 7, 8 reasons why I believe it's much better to buy than to rent. Number 1 is rents are now not much more than mortgages, so if you can get yourself a deposit together, it's actually per month not going to make as big a difference as it used to on your cash flow by buying over renting. Number 2 is you have a mortgage and that is good for your credit. It's a good debt loan, not a bad debt loan. But here's the thing, inflation is paying your mortgage off for you. So I had about— just swallowed a fly there. I had about £3.5 to £4 million of the mortgages paid off in the last 12 months by inflation. Not bad, huh? And they're all good debt mortgages on properties. I don't have a very high loan-to-value. I think that's important not to overexpose yourself. When you rent, you don't have a proper home. Any maintenance and upkeep and renovations is dead wasted money that goes to the landlord. The landlord can kick you out at any time. Moving costs you a shitload of money. People don't factor that in. Moving can cost you 10, 15, 20 grand if you're doing that every year. People don't factor that into their costs. You get, um, capital appreciation usually doubling in the UK every 10 to 15 years, which you don't get if you rent. So you buy a £200 grand property now, in 10 to 15 years it'll be £400 grand, and in 10 to 15 years after that it'll be £800 grand, and in 10 to 15 years after that it'll be £1.6 million. It'd have gone from £200,000 to £1.6 million in what, 35 to 45 years? And someone else would have made all that money and you'd have rented it off them and just put your £800 a month dead rent in there times 12, times goodness knows, you know, 35 years. Complete dead waste of money. There are loads of other reasons, but I've had my rant, I've said my piece. So hit the share button, do that now because I think it's good to get better financial education out there. And I think there's a lot of bad advice around this, quite personally. And look, I'm not a fan of saving, I'm a fan of investing, because when you save money, the banks get it, which I don't like, and inflation erodes it. But one thing you probably should do is save as hard as you can to get enough deposit to buy a house. You can get that deposit, buy that house, or you could borrow from a family member or a friend, or, you know, you could lock them in a bit of equity. And then once you've got that house, you've got your base. You're paying down that loan. Inflation is paying down that loan quicker than you can pay down that loan. And in 10, 15, 20 years, you're going to own that thing outright and that's going to have doubled and doubled again. Tell me where else you can get an asset and an investment like that. And there's all these American gurus saying you should rent and not buy. Bye. So if you want better financial education and knowledge like that, Go and join Rob.team. It's my members area. It costs just the large coffee, one-third of the price of Netflix. Digital information immediately downloadable. Zoom masterclasses every 10 days to help you start a business, scale a business, get better financial education and knowledge to help you create multiple streams of recurring income, online income, digital income, asset income. To learn how to invest. The 9-module, 10-hour How to Invest series is now live. I'm doing the Fastest Ways to 100K Masterclass in 2 days' time. If you join rob.team right now, you'll be able to jump on, on that right now. So open a new page on the internet, do it now, and type in rob.team. I'll see you in the members area. There's 5,000 movers, shakers, and changemakers just like you there. So let me know what you think in the comments. I believe you should Buy and not rent if in any way you can get yourself that deposit. In the long run, you'll make a lot more money. And if you want to know my 7 reasons, go back and watch the replay. Thanks for tuning in. And remember, if you don't risk anything, you risk everything.