Is it a good time to buy a house?

Added: 2026-05-22

[00:00:00]Is it a good time to buy a house right now or should we wait until the interest rates drop?

[00:00:07]>> Is it a good time to buy a house right now? I mean, you know what I'mma say.

[00:00:12]>> I don't look before, let me just give you some context here, okay? Um, I've been working with you for like I don't know, I don't even how many years now. Six, seven years.

[00:00:24]>> Almost 10 years.

[00:00:25]>> 10 years.

[00:00:25]>> Almost 10 years, folks.

[00:00:26]>> 10 years. So, I don't think I've ever heard you say it's not right. So, that was always a little bit like, you know, and it's not a red flag, but it always makes me question like, are you just in sales mode 247? You know, because, you know, you're a loan officer, so of course you're going to want people to buy homes. And honestly, a lot of people comment that stuff on a lot of videos and they'll say like, "Oh, of course it's a it's a loan officer or, you know, real estate agent tell you to buy a house at all times." They're not going to tell you no.

[00:00:59]>> So, I want the truth behind if it is actually a good time to buy a house and if interest rates um well, not even if they're going to drop, but like should you wait for them to drop?

[00:01:10]>> So, the truth is I don't care whether you buy or not. If you want to know the the truth, I could care less what any of y'all do, I know what I'm going to do, right? So whether y'all buy or not, it does not matter to me. And I've said that plenty of times cuz people I read the comments, oh, you're just a realtor, you're a loan officer, just like you just said, and quite frankly, I don't care. But am I going to always tell you to buy real estate? Hell yeah. as long as you can afford it, >> right? You never heard me say, "Yo, go buy something you can't afford. Go go go, you know, offer above asking price.

[00:01:54]Just lose your [ __ ] mind and just go out here and buy real estate just cuz."

[00:01:57]>> Yeah.

[00:01:58]>> No, I've never said that. I've always been very consistent with my answer because I'm a firm believer in ownership at the end of the day. Uh but I do think there is a need to rent, right? And if you do rent and right, you can still build wealth in real estate. So no matter if you choose to buy real estate as a primary residence or if you choose to buy real estate as strictly investment properties, I've always just told you to go buy and buy smart because that's the truth. You can't lose.

[00:02:34]There's no way you can lose only if you brought wrong and you don't know what the hell you're doing and you don't pay attention to my lessons that I've been given for almost 10 years on the internet.

[00:02:50]>> Okay. So, why would somebody, >> now this is just not me, I'm just saying in general.

[00:02:57]>> Yeah. Why would somebody want to go into a mortgage and spend, I don't know, close to $4,000 or $3,500 when they can just go rent >> and spend less than that or maybe 2,000 or $2,400?

[00:03:15]Does it work for you?

[00:03:19]Does it work for you to spend 2500 or does it work for you to pay four? Me personally, I'mma pay four because I want my own spot. I want if if it's for me to live, I want my own sp I want my own place. I've look, I've lived in luxury apartment. You've been to my house. You've been to my building. It's very nice. I understand why people rent.

[00:03:46]But that [ __ ] cost a mortgage, too.

[00:03:49]like like if you living in a nice place, a nice building with amenities, you're no matter where you are in America right now, it doesn't matter. You're spending three to $10,000 a month.

[00:04:04]Either which way, somewhere in that range, just depending on how high level it is, exactly where it's located, what city, you know what I'm saying? If you in Manhattan or something, if you in LA and Beverly Hills, like you going to spend a little bit more money, >> you know, but like ultimately, if you going to rent, make it work for you, right?

[00:04:26]>> But me, I like ownership. It's just nothing better than knowing this is my backyard. This is my house. You know what? I want to change the whole siding tomorrow. I want to make it this. I want to rip down walls and I want to do this.

[00:04:40]Right? It's mine. I can go crazy in here, make it as lavish as I want, redesign the whole place, do whatever the hell I want to do to it versus if it's if I'm a tenant, I can't do nothing without permission.

[00:04:56]I like owning. I don't want to ask you nothing. I want to do whatever I want.

[00:05:00]But these are my reasons, right? This is my reasons for owning primary residence.

[00:05:05]>> Yeah.

[00:05:05]>> Right. I rather that I want to barbecue when I want to. I like the grill. Like there's certain things that for me it makes sense. So what I'm trying to tell everybody is you got to do what works for you. I don't care if you live live where you if you rent where you live or you own. Doesn't matter. Just buy some real estate cuz you need it.

[00:05:28]>> Okay. So >> everyone needs real estate in my opinion. Everybody needs real estate.

[00:05:32]Everybody needs at least one property >> from an investment standpoint.

[00:05:37]>> It could be an investment. It could be a primary. It could be whatever. But you need you need to get on the board. You need tax deductions. Look, you have to understand when you're dealing with real estate, this is not just about an emotional, and this is when I hear people talk online. It's always from an emotional standpoint.

[00:05:55]>> Okay.

[00:05:56]>> Uh and everything that I just said was so freaking emotional. I said I like the barbecue and all this other [ __ ] right?

[00:06:02]Like this is what you think about when you thinking about a primary resident.

[00:06:05]It's so emotional. But you got to take the emotions out of it and think this is business. I can say all of that because I have other properties too that I can write things off and I can minimize my tax brack my my tax um commitment every single year. Right? This is the beautiful thing about owning real estate. You need these things. You need it to help you. The more money you make, the more you need to deduct. And there's nothing better than owning real estate to do so.

[00:06:33]>> So, okay. So there's a there's of course more of a benefit in that sense than leasing or renting because now you are benefiting off of tax deductions and so on, right?

[00:06:46]>> Is what you're saying.

[00:06:48]>> So what kind of tax dedu deductions would you benefit off of? Like let's say if let's say if you don't even own a business and you're just somebody who works a 9 to5 and you know you come home and and you're just living in this house are you still benefiting off of tax deductions as somebody who's not a business owner?

[00:07:06]Yeah. So if you're just in a primary residence you still get to write off you know mortgage interest. You get to write off if you bought the house and you had to pay points you get to write those points off right. um certain energy efficient improvements could be potentially tax deductible, right? Uh so there's a lot property taxes you can you can deduct. So there's a lot that you can write off and it's going to help you help you even if you're just a regular just hey I'm I just want to have barbecues and bar mitzvah like I just mentioned. You know what I'm saying?

[00:07:39]Like you can still write something some you can write more off as a homeowner than you can as a tenant.

[00:07:47]right? Like I don't have my rent is not deductible. Now, if you're smart like me, then you use your business to rent the apartment and it's a corporate apartment, but that's a whole another story for a whole another day.

[00:08:02]But most people are not doing stuff like that. Most people are just, you know, everything's in their personal name.

[00:08:09]>> Now, from a number standpoint, um because we, you know, obviously we're not talking numbers here. we're just going for emotional or uh or benefits with taxes. But there's always people who comment or, you know, drop, you know, mention numbers and why it doesn't make sense to to to lease versus own and so on. Um so what do you say to those people? Because if you're a business owner, you're looking at numbers at the end of the day. And obviously it's what what's works for you, but like what actually makes more sense aside from just oh, if it works for you, it works for you. Like if there was a a way to break it down with numbers like from uh a business standpoint for the most part.

[00:08:57]>> Yeah. I mean, the you're looking at, okay, instead of me putting $35,000 down on a on a property, $40,000 down on a property, could this 40 or $50,000 or whatever it is, could could I use this to make more money?

[00:09:15]>> Cuz if you put it into the brakes, it's dead, >> right? There's no doubt about it. Unless you doing a value ad type of deal where you buying something distressed, you rehabing it, you going to refinance, pulling your money back out, that's a whole another story for another day.

[00:09:31]Most people are just buying new construction or some [ __ ] like that that's already done. They're buying turnkey. They can just move right in.

[00:09:38]So, they don't have no equity. So, I understand that, right? When you looking at it from that standpoint, why am I just going to let my money just be dead sit here when I can put this into a business and I can probably 10x this in the 12 to 18 month time frame and then I can go buy the house that I really want.

[00:09:57]And I think that's a smart move.

[00:09:59]>> Okay.

[00:10:00]>> Right. Again, home ownership is not going to be for everybody at every moment. Every situation is different.

[00:10:06]And this is why I started the whole conversation off by saying you have to do what works for you at the end of the day.

[00:10:12]>> Right. Right.

[00:10:12]>> Everybody can throw out their numbers.

[00:10:14]And I think a lot of that stuff that people put out there is not just it's not really from an educational standpoint. It's just more for views and likes and to sway to whatever message that they might have be be going on. You know what I'm saying? But like I I just think you know if you are going to take down payment closing cost money and invest in the business just make sure your business knows what it's doing because and this is why I say house hacking too. It's the same philosophy.

[00:10:42]If you going to buy if you know I'm buying real estate and I need to buy real estate and I made to make some sort of return on this. Like me personally you're buying a business but buying a multif family property. Mhm.

[00:10:55]>> You get to file that on as a schedule E on your taxes. The IRS is view, even if it's a primary, they're viewing you as a business owner, right? Cuz you're filing that schedule E because you have that real estate. So, it's a business. And if you treat it as such, you can get some of your money back out quicker, right?

[00:11:15]But is it going to be as quick and as profitable as investing into your tech business or tech stocks or anything like that? That's going to come with a much faster return. Absolutely not. Real estate is a slow game. It's like the tortoise in the hair, right? You ever seen that movie when you was a kid? The tortoise in the hair. Like >> when I was a kid? I don't I don't think so, Matt.

[00:11:36]>> Well, you need to go look at it because everybody think everybody thought the hair was going to win because it's fast fast shooting out the gate and the turtle was slow, right? But at the end, the turtle won.

[00:11:50]>> That's real estate. Real estate is slow.

[00:11:52]It's long-term. In the long run, you own enough real estate, you're going to win, period. It's It's like monopoly.

[00:12:03]Monopoly. The more real estate you own, the more you the chances of you winning are highly likely. The less you own. You might be going bankrupt quick sooner than later.

[00:12:15]You know what I'm saying? So yeah, I I'm cool with those analogies and when people bringing them up, but I still you'll never hear me talk anything bad against real estate. The good, the bad, and the ugly. I love the dark side. I love it here. You know, real estate is a beautiful thing if you know what you're doing. Now, interest rates. Most people you speak to who aren't really too tapped into what's going on or the markets, they hear from somebody else about the rates or they just look at that number and say, "Oh, well, I'm going to wait for it to go back down to 3% or it used to be 3% or 2% or whatever the numbers were. It's going to go back down soon." Um, what about those people?

[00:12:59]because it seems like a lot of people, you know, want to wait for a certain rate, but it seems like they're going to be waiting forever. And you always hear the same reason as to why they can't buy a house because they're waiting on the interest rate. So, what about those people who are constantly waiting on the rates to go down? Good luck.

[00:13:21]You know, I hope it works out for you.

[00:13:25]Like, I hope it works out. Like the same way you waiting for rates to go back 3% is the same way that house is going to go up 6%.

[00:13:35]>> While you're waiting, there's a opportunity cost for everything.

[00:13:42]So the more expens Yeah. If 3% come back, if 4% come back, great. I hope it does. Please, Lord, hear my prayers.

[00:13:50]>> Right.

[00:13:51]>> Like I I I need three and 4% interest rates in these markets. It's going to be great.

[00:13:58]I would love it. But hey, I'm not I'm not I'm not waiting for something that I can't control, right? Like let's let's really unpack this, Tukes. Like you people are waiting for things that they can't control. When you wait for things that you can't control, like you're doing yourself such a tremendous disservice by by waiting.

[00:14:26]I have no control if the rates go up or down, but I can control how productive I am. I can control if I'm executing on things and I'm just going to sit here and wait for the right time. What? God forbid something happens to you.

[00:14:44]>> Yeah, it's true, >> right? God forbid something happens to a family member or something now your plans get derailed or something happens to you or something, right? life lives.

[00:14:55]So, we're sitting here waiting for what?

[00:14:59]Like, the time is now for everything.

[00:15:03]>> Not just real estate, bro. The time is now for everything. Everything. We have to put our foot on the gas and we have to move forward. We have to move as quickly, as strategic, as smart as we possibly can. But we need to move forward. We can't sit here waiting on [ __ ] We can't be waiting for these perfect opportunities and these perfect storms and this perfect this and this perfect this and this perfect that.

[00:15:29]Like, why?

[00:15:31]Why? Before you know it, you're going to be 50.

[00:15:35]>> Ah, yeah. Time.

[00:15:36]>> Let that sink into you young [ __ ] Before you know it, you're going to be 50. And I'm telling you this because I'm about to be 50. And I'm looking at it like, when the hell that I'm almost about to turn 50 in a couple years. This is wow. I was just 22 and you're going to turn up and you're going to be almost 50 years old. And I'm telling you, if you don't get your [ __ ] together and if you don't move like you have some sort of urgency, you're going to be left behind. And you don't want to be going into your 40s and your 50s left behind. You don't want to be struggling.

[00:16:14]Like whatever season somebody's in right now, whether in your 20s, your 30s, you still have a lot of time. No doubt. But you don't got a lot of time.

[00:16:26]>> Yeah.

[00:16:26]>> You got a lot. But you don't.

[00:16:28]>> Yeah.

[00:16:30]>> So, you got to move accordingly. What the hell are we waiting for?

[00:16:36]>> To save more money. We're always looking to save more money, >> [ __ ] Bill's going to come, something's going to come. Whatever you saving is going to go. You might as well put it into some investment. You might as well put it into the bricks. Let it let it compound for you. You'll look up in 10 years and you think about you got to think about decision making, bro.

[00:16:56]Decision making is extremely important.

[00:16:59]The decisions that you make today tools is going to be 5 years from now. You're going to look at whatever you did today and in this time frame 2026, it's going to impact you in 2031, 2030, 2032.

[00:17:12]That's when it's really going to affect you, bro. So, right now, you don't worry about these interest rates. Who cares?

[00:17:20]At the end of the day, who cares? Like, I don't care what the rate is. If the deal makes sense, you go for it. If you can afford it, you go for it. You not You can always refinance at some point or not. But either which way, the deal makes sense, so you move forward. And if it don't work out, worst case scenario, two to three years. Oh my god, I hate real estate. Guess what? Sell a [ __ ] Yeah. Sell it and go figure out living somewhere else then cuz either way you going to have to live.

[00:18:01]So sell it, get a couple dollars and do that money, right? And set yourself back up again.

[00:18:08]Like you can get into real estate and you can get out, but the key is just to get in.

[00:18:18]That's true. Um, so you mentioned before about the uh the rates going down to three, let's say 3%. What would happen to the home uh prices if the rates like how does that work with each other? Like if the rates go down, do home prices go up? Like what usually happens?

[00:18:38]>> It could. It could. It all depends on demand.

[00:18:44]So if rates go down and the demand, the market, you know, all the people you just mentioned that are just waiting for these rates, the millions and millions of people who say, "I want 3%. Now 3% is here. Now they all gonna be going after the same house."

[00:18:58]Good luck thinking you're going to get 2026 prices or 2025 prices or like whatever. No, you going to get 20 30 prices because now it's going to be mad people in there and them prices is going to go up. How much? Who knows? Every market is different. Real estate is very local. So, it just really depends. But I'm seeing bidding wars right now, bro.

[00:19:22]Right now, tri-state area where it's nothing but million-dollar homes. All of these million-dollar homes got freaking bidden wars. People going 20,000. Yo, I'm telling you right now as we speak.

[00:19:34]Million-dollar homes that ain't even like they regular homes.

[00:19:39]They going two families, three families going 50,000 above asking, 20,000 above.

[00:19:46]Bidding wars, bro. And I'm talking about multiple people, not just one or two.

[00:19:53]seven, eight bids on million-dollar homes in a tri-state, most one of the most expensive areas in the country to live. So, imagine what's happening in cities and states where it's like 400,000 and 500,000 right now. What is this, April 2026, we in May, right?

[00:20:14]Like, bro, so when rates go down, what do you think is going to happen?

[00:20:22]Yeah, the there's going to be more demand demand for >> it's going to be more of everything. But when you look on the internet, there's always a lot of clickbait where folks will just use certain markets that might be doing going through an experience, right? And they make it try to seem like that's the overall market everywhere in the country. Like no, certain areas.

[00:20:41]Yeah. You going there's always going to be casualties of war.

[00:20:45]This is why you got to learn how to buy, right? You can't be buying foolish.

[00:20:48]>> You know what I'm saying? Yeah. But there's there's like I'm telling you, bro, bidding wars.

[00:20:56]Like every contract that's coming in right now is multiple offers on them.

[00:21:04]Like every single last one of them, bro.

[00:21:07]People are losing bids like that.

[00:21:11]>> That's crazy. Like now that I'm I'm telling you, bro. Now that I got my sleeves back rolled up, I'm I'm seeing things differently right now. And I'm seeing the activity. Yo, it's it's hot out here right now. So y'all keep waiting all you want.

[00:21:27]Somebody going to capitalize. Y'all think everybody's broke cuz it's inflation and there's war. Like y'all keep thinking that. Not everybody broke.

[00:21:38]Not everybody. Not No. This is dead ass serious though. Not everybody's broke.

[00:21:44]>> Not everybody's complaining about money.

[00:21:46]They just might not be saying something to y'all. But let me tell you, the people that's right next to you, they got a couple coins and they looking to buy real estate. I'm trying to tell you, bro, like the people I'm talking to, you would never think in a million years they got 700,000.

[00:22:00]Like you would never think they got 500,000. But people got it. I even be like, "Holy smokes, people got money.

[00:22:10]People are buying. The amount of people that I'm talking to right now to buy $3 million houses and $2 million houses, $700,000. Like the numbers are there and people not blinking a eye.

[00:22:24]Like everybody know gas is up. This is up. But what the [ __ ] I'mma do about it?

[00:22:28]Complain about it? No, I'm going still put gas in my car.

[00:22:31]>> Yeah, that's all you can do.

[00:22:33]>> Food is expensive. Well, I'm not going to stop eating.

[00:22:36]>> Yeah, you got to eat. Gotta put gas in your car.

[00:22:38]>> Housing prices is high. interest rates is high. Well, I'm not going to stop buying property and stop investing. I'm just going to do it smarter. That's it.

[00:22:47]Like, there should be nothing that's stopping anybody from doing anything.

[00:22:51]The only thing that's stopping people is them.

[00:22:55]Now, I'm going on a whole different rant here. But, but >> I had to say what I had to say. This is This is You get rants to gyms.

[00:23:07]>> It is what it is. There you have it.

[00:23:11]Yeah, there you have it, man. If you're looking to buy, refinance, you know, link will be in the description. Garland Mortgage Group powered by UNMB Home Loans. We're doing business in 27 states. Come work with us, man. Uh, let us help you get to the closing table if you learning from. If you learning from me, you might as well come work with me.

[00:23:28]Uh, email garlandroup.com and you or click the link in the description of this video. But that's all we got for you. Um, any any any uh closing remarks, Tukes?

[00:23:40]>> No. Pretty solid info.

[00:23:43]>> All right, I hope you got value from this, man. Like, comment, share, subscribe, hit the bell for notifications. We'll be back with more videos. Peace. Peace.