Jaspreet Singh

So in 2011, I'm studying to take the medical college admission test, the MCAT. And I'm reading these books talking about how wealthy people invest in real estate. And now I'm making a little bit of money from this party business and I have a little bit of cash in the bank. So during my breaks, when I'm studying for the test, habe ich angefangen, auf Finanzen-Webseiten zu schauen.

So in 2011, I'm studying to take the medical college admission test, the MCAT. And I'm reading these books talking about how wealthy people invest in real estate. And now I'm making a little bit of money from this party business and I have a little bit of cash in the bank. So during my breaks, when I'm studying for the test, habe ich angefangen, auf Finanzen-Webseiten zu schauen.

Und sie erzählen alle darüber, wie die Real-Ersatz-Rechte auf den Rücken geschlagen ist, wie Real-Ersatz-Rechte in Amerika zerstört wird. Und so habe ich gesagt, vielleicht muss ich anfangen, Real-Ersatz-Rechte zu kaufen. Und so am August 22. habe ich den Medical College Admission Test genommen. And then on August 23rd, I purchased my first real estate investment property.

Und sie erzählen alle darüber, wie die Real-Ersatz-Rechte auf den Rücken geschlagen ist, wie Real-Ersatz-Rechte in Amerika zerstört wird. Und so habe ich gesagt, vielleicht muss ich anfangen, Real-Ersatz-Rechte zu kaufen. Und so am August 22. habe ich den Medical College Admission Test genommen. And then on August 23rd, I purchased my first real estate investment property.

It was a small condo that I purchased out of foreclosure. A few years prior, it had sold for a little bit over $150,000. And then like many properties, it went through foreclosure. The banks couldn't sell it. And it was listed on sale for $8,400. That was the total price of the condo. So I came in with an offer of $4,000. Because I don't know how this real estate investing stuff works.

It was a small condo that I purchased out of foreclosure. A few years prior, it had sold for a little bit over $150,000. And then like many properties, it went through foreclosure. The banks couldn't sell it. And it was listed on sale for $8,400. That was the total price of the condo. So I came in with an offer of $4,000. Because I don't know how this real estate investing stuff works.

And we would bank it forth with the bank. The bank said, we'll sell it to you for $7,000. I tried to negotiate them even lower. And then the bank said that they had another offer on the table. So now it's a bidding war. And I had to offer my highest and best price. So I said, I'm willing to offer $8,000 to buy the condo. No more. And they accepted my bid. So I purchased this condo for $8,000.

And we would bank it forth with the bank. The bank said, we'll sell it to you for $7,000. I tried to negotiate them even lower. And then the bank said that they had another offer on the table. So now it's a bidding war. And I had to offer my highest and best price. So I said, I'm willing to offer $8,000 to buy the condo. No more. And they accepted my bid. So I purchased this condo for $8,000.

I put in a few thousand dollars worth of work. And then I rented it out for $600 a month. Und jetzt fange ich an, Dinge zu fragen. Warum hat niemand mir darüber gesagt? Dieses Konto ist Geld in meinen Koffer, ohne dass ich etwas machen muss, weil ich dieses Asset besitze. Wir werden alle beobachtet, um unsere Zeit für Dollar zu handeln.

I put in a few thousand dollars worth of work. And then I rented it out for $600 a month. Und jetzt fange ich an, Dinge zu fragen. Warum hat niemand mir darüber gesagt? Dieses Konto ist Geld in meinen Koffer, ohne dass ich etwas machen muss, weil ich dieses Asset besitze. Wir werden alle beobachtet, um unsere Zeit für Dollar zu handeln.

Wir werden alle beobachtet, um zu arbeiten, um bezahlt zu werden, weil das ist, was wir beobachtet werden. Aber reiche Menschen arbeiten nicht für einen größeren Betrag. Sie arbeiten für mehr Asset, weil das dich weiterhin bezahlen kann, auch wenn du nicht arbeitest. And that's that shift, when I saw that, that really sparked a fire under me and really made me angry.

Wir werden alle beobachtet, um zu arbeiten, um bezahlt zu werden, weil das ist, was wir beobachtet werden. Aber reiche Menschen arbeiten nicht für einen größeren Betrag. Sie arbeiten für mehr Asset, weil das dich weiterhin bezahlen kann, auch wenn du nicht arbeitest. And that's that shift, when I saw that, that really sparked a fire under me and really made me angry.

And I don't know why I got so angry, but I got angry. Because I felt like I was checking all the boxes. I was doing good in school. I bust my butt in school. I was going to do all the right things, become a doctor and do everything that I was told. But what I didn't realize was... So, I wanna make a distinction here. Are you saying that in order to build wealth, people should buy a house? No.

And I don't know why I got so angry, but I got angry. Because I felt like I was checking all the boxes. I was doing good in school. I bust my butt in school. I was going to do all the right things, become a doctor and do everything that I was told. But what I didn't realize was... So, I wanna make a distinction here. Are you saying that in order to build wealth, people should buy a house? No.

If you want to build wealth, you have to buy assets. When people say buy a house, what does that mean to most people's eyes? It means buy my home. I want to buy this nice place for me to live.

If you want to build wealth, you have to buy assets. When people say buy a house, what does that mean to most people's eyes? It means buy my home. I want to buy this nice place for me to live.

They're building what many people call generational wealth, which is one of the biggest lies when it comes to money. The reason why... It's because your house is actually a money pit. And that's why I want you to think of your house as a liability. But I want you to hear me clearly. I'm not saying you shouldn't buy a house. I'm not saying it's bad to buy a house.

They're building what many people call generational wealth, which is one of the biggest lies when it comes to money. The reason why... It's because your house is actually a money pit. And that's why I want you to think of your house as a liability. But I want you to hear me clearly. I'm not saying you shouldn't buy a house. I'm not saying it's bad to buy a house.

You have to treat your house like a liability. This suit that I'm wearing is a liability. This watch is a liability. My shoes are liabilities. Should I not buy them? No, I got to make sure I can afford them. So when people think about buying a house, what do they think of? They think, I'm going to build generational wealth.

You have to treat your house like a liability. This suit that I'm wearing is a liability. This watch is a liability. My shoes are liabilities. Should I not buy them? No, I got to make sure I can afford them. So when people think about buying a house, what do they think of? They think, I'm going to build generational wealth.