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Houston Crosta

πŸ‘€ Speaker
894 total appearances

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Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

Like let's say here in Vegas, they're probably making, you know, dealers, I would say make between 80 and 120,000 a year, depending on the properties they work at, because there's a lot of it's tips.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

Right.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

And I think this new law where they don't tax tips is going to help them.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

Right.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

Cause that's like a huge bonus and not paying tax on that.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

But at $120,000 a year, I mean, you really net like two grand a week.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

How could you pay a $4,500 mortgage?

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

And where do you get the $150,000 to put down?

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

How could you, as making $120,000 a year, save $150,000 to put down?

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

I still feel like you need the actual money, right?

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

And you got to earn that money, right?

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

Because if you go 3.5% down FHA, you're paying mortgage insurance, which raises your payment, you know?

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

I don't know.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

I think the ultimate thing is that everybody's getting squeezed quick, right?

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

Really quick.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

And so quick that...

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

It's it's no substitute that the hedge funds are buying up all of the single family homes and turning them all into rentals.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

Yeah.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

I mean, all the big hedge funds are.

Digital Social Hour
Houston Crosta: He Bought a Bugatti Then Lost 25% Overnight | DSH #1593

I mean, I would do it, too.