tach with fun...PART-5

Watch tach with fun...PART-5 - Mrbeast1 on Dailymotion

Transcript

00:00And a half percent in June, it's equally as important to make sure you do not borrow too

00:04much money. I've said this before, but borrowed money is very much like a fire, where if you use

00:09it properly, it'll keep you warm and cook your food. But if you abuse it, it could very well

00:14burn everything down and destroy all of your finances pretty quickly. That's why I'm not

00:18going to sit here and say, don't borrow money. Borrowing money is bad. You just have to do it

00:23responsibly and make sure you don't borrow too much more than you're able to pay back.

00:28For example, when it comes to myself, I don't have any credit card debt, no auto loans. I just

00:32have mortgage debt on cash flowing rental properties, all fixed for the next 30 years,

00:37under three and a half percent. In those cases, the cash flow more than pays for the rent. And

00:41if for whatever reason I have to sell, there's enough equity to pay off all the loans. On top

00:46of that, those mortgages make up less than 15% of my entire portfolio. So if the market were to crash,

00:52it would really make no difference whatsoever. Honestly, the point where people get in trouble

00:56is just when they borrow too much money on short-term speculation, and they don't have

01:00enough to cover themselves in the event of a prolonged downturn. No sure, even though borrowing

01:04debt in trouble. I don't have enough money on short-term speculation, in most cases,

01:10I don't want to pay for them. So let's just talk to me about this. So if I actually

01:14have a gag of a gag of the pornography test, I'm going to let them do this. And the answer

01:15I'm going to pay for you. I don't have to admit that I'm going to pay the price for

01:17your 2017. The way you have to pay for the world. And that's something that you

01:19have to do with the cork of the roof of the roof. And that's what I feel.