4 Money Lessons From the Stars of Selling Sunset
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What is the overall premise of Money Rehab’s Selling Sunset money lessons?
Ан Николай, Спер'я Дік ⁇ то. It's time for some money remote.
Selling Sunset is one of the top shows on Netflix. And I know for some people it's a show all about real estate or the drama or the outfits, but to me, it's a show all about money. And you know what? I have had a front row seat. Over the past couple of years, I've had four cast members of the Selling Sunset universe on Money Rehab: Jason Oppenheim, Emma Hernan, Mary Bonet, and Polly Brindle. And today I'm gonna be pulling out four moments from those conversations that I have Not been able to stop thinking about. My takeaway from my conversation with Jason Oppenheim was unsurprisingly about real estate. But the tip itself was a huge surprise. Here's the thing about Jason: he is one of the most successful real estate brokers in Los Angeles.
He founded the brokerage that Selling Sunset is all about. His firm has about $5 billion in total sales. And when I sat down with him, he said something that put my jaw on the The floor because I have never ever heard a real estate broker admit this. Okay, so let me set the scene for what was happening in the interview. We were talking about renting versus buying, and as you know by now, I do believe that renting can make more sense for some people. than buying, depending on your situation. The idea that renting is throwing away money makes me insane. So I was ready for Jason to come for me and argue with me. But he didn't people come for me so hard when I say that renting is not throwing away money.
It's not. At all. I never understood that argument that buying and r first of all, renting is I would argue is throwing away less money than buying.
Well, because you throw away money somewhere. You give the bank Yeah, you're either giving it to interest
or you're giving it to your landlord. I don't think it why don't you just why don't you just call the bank president your landlord and then and and then it's the same thing. It's just it's just doesn't make sense. I d I've never understood that. Throwing away money. I really don't. In fact, when you buy, you are you're tied down. So you are you actually have less m so you have less m mobile physical mobility uh because you're you now have to if you if you want to move when you're renting, you don't have commissions, you don't have transfer taxes, you don't have to move all the furniture and goods. I mean you could be renting a furnished place. You're much more mobile. That is inherently valuable. And it costs less to rent right now than it does to buy because interest rates are higher.
So yeah, I never understood that. I'm a big believer in renting. There's a there's a uh there's a psychological pride of ownership, but if you get it if you just look at the f f it financially,
Why does Jason Oppenheim say renting can be financially smarter than buying?
No, renting makes more sense than buying and always has. Unless unless you think that the that the market is going to appreciate and then buying makes more sense. That's the only reason that you would buy from a purely financial perspective is if you want to leverage your loan because you think that there's gonna be market appreciation. And Historically there has been market appreciation.
What red‑flag financial abuse did Mary Bonnet uncover in her ex‑husband’s secret debt?
But not as much as the stock market.
You would be better off buying a house if you think that real estate is going to appreciate even Five percent a year. Even if you thought the stock market was gonna appreciate seven percent a year and the real estate was only gonna appreciate five percent a year, you're then you're better off buying. There are a lot of people, I'd say just about everyone, I'd say ninety percent of the of my clients Would have been better off renting for the last ten years than buying. Why? Because they're making no money, because the market's back to where it was eight, ten years ago. And They didn't have the mobility and They had all the problems with fixing up the house and the stress of fixing up the house. And they didn't.
And they have to pay commissions to me. They have to pay property taxes. They have to pay the mansion tax. So they would have been better off renting for the last eight years.
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Chapters
4 chapters
1
What is the overall premise of Money Rehab’s Selling Sunset money lessons?
0:02–2:46
2
Why does Jason Oppenheim say renting can be financially smarter than buying?
2:46–3:10
3
What red‑flag financial abuse did Mary Bonnet uncover in her ex‑husband’s secret debt?
3:10–5:41
4
How can you spot early warning signs before sharing finances with a partner?
5:41–21:18
Speakers
1 identifiedMore from Money Rehab with Nicole Lapin
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