Paul Mark Morris

So, and the other thing, just like you said, come back to earth on the $5 million house.

I just want to say that that math works exactly for a $500,000 house.

So you buy the $465,000 house that has $30,000 worth of

bad stuff, you can do a lot for 30 grand.

And now you're at 500 grand and it's worth 600.

So the math works at $500,000.

I'm originally from Pittsburgh and that's where I found that math.

So one of the things that

people find you know interesting or or surprising is that i've been i've been investing in real estate for 30 years and i've never lost money in a single deal and i've done that by following the three rules that you're referring to and the first one is buy where you know

And to answer your other great question of, okay, well, you know, geez, I live in LA, which is where I know.

So like, shouldn't I be buying in Detroit where I heard it's cheap or where, you know, whatever.

And my answer is, first of all, if you don't own a home, and this is where we're getting back to investing versus your personal residence, the best place to start building wealth by far is in your own home.

And the reason why is there are loans and products, loan products available to you for your own home that do not exist for investors.

So you have to check the box that says, yes, I'm owner occupy.

And then there are, there are programs that like kick the door wide open.

You mean lower interest rates for first time home buyers and much, much, much lower down payment for starters.

So buy the worst house in the best neighborhood is a great North star.

And the only reason why I deviate from that is because of where we live.

Like, okay, so you're going to buy the worst house in Beverly Hills.

Like, sorry, I can't afford that.