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Ramit Sethi is a millionaire made With an estimated net worth about $ 25 million, the star of the Netflix series “How to get rich”, the author of “I will teach to be rich” and member of our 100 most influential money experts List. This is a fairly solid curriculum when it comes to personal finance.
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Sethi believes that investment is the best way to combat inflation. However, when it comes to real estate, the investment that most people consider the gateway to generational wealth – SETHI has a dam that can be described as unconventional, if not highly controversial. We explore.
For generations, North -Americans have seen the property at home as a ticket to middle class stability and a badge of financial success. However, Sethi told CNBC last year that he believes that the U.S. collective aspiration to property has become a “religion”.
Feel the tendency to associate rent with a failure forces many people to rush -to buy without analyzing factors such as paying taxes on the property, owner insurance or even maintenance costs. Given that a house is the biggest investment than most people will, not to mention the older cost, Sethi said he is “tired of blind obsession with property in America.”
SETHI bases its position on three points:
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His rejection of the common assumption that renting a house is always a loss of money that he pays the owner instead of paying in the form of capital;
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His statement that actions have obtained better returns than real estate, even with the recent increase in home prices in all housing markets;
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Its insistence that the property of houses comes with a list of laundry of secondary expenses that the tenants avoid monthly.
Check: 25 places to buy a house if you want to gain value
It can be complicated when weighs the costs of mortgage payments in the face of monthly rent. However, when referring to typical aspiring housing owners, Sethi exposed it to X:
“See this:
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2 -room house for $ 1,600 rent
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2 bedroom house for $ 1,600 mortgage
And think, ‘The same price? Should build equity! ””
But he suggested that only the tenant really pays $ 1,600. He wrote: “The rent is the maximum that you will pay, but a mortgage is the minimum you will pay.”
