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  • 2 days ago
If you can afford a down payment and can reasonably predict where your life is headed over the next few years, you should own real estate instead of renting, Serhant CEO Ryan Serhant said at Fortune Brainstorm Tech.

For first-time buyers, he recommends building an “army” of people who have been through the process thousands of times.

“Just because it's the first time you've ever done it doesn't mean that you have to act like it is,” he said.

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Transcript
00:00If you can afford a down payment and you can reasonably predict where you think your life
00:05will be over the next two to four years, you should own real estate instead of renting it.
00:10You're either paying someone else's mortgage or you're paying your own. You're either building
00:14up your own credit or somebody else's. So it's really up to you when you make that decision.
00:19And if you're a first-time home buyer, you want to make sure that you have an entire army around
00:24you.
00:24You want to work with a real estate professional. I'm not just saying that because I am one.
00:27We solve problems. That is our job. And we solve problems that you don't even know that you have
00:32yet. That's our job. You want to make sure that you're pre-approved for a loan. You work with
00:36a bank. You want to make sure that you're using the right platforms and you're completely surrounded
00:39by people who have done it a thousand times. Just because it's the first time you've ever done it
00:43doesn't mean that you have to act like it is.
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