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Dan Lok Show

Don’t Buy A House Until You Hear This!

Dan Lok Show

Dan Lok

Entrepreneurship, Careers, Management, Business

4.9825 Ratings

🗓️ 29 May 2020

⏱️ 6 minutes

🧾️ Download transcript

Summary

Would you rather buy a humble home that’s not too big and won’t cost you much, or buy your dream house filled with luxuries and wealth triggers? Regardless of what you choose, don’t buy a house until you watch this! Because in this episode, Dan Lok will share with you the when, why, and what to buy a house.

Transcript

Click on a timestamp to play from that location

0:00.0

You've been thinking about it for a long time, only your own home.

0:19.0

Imagining your kids growing up in an environment.

0:23.2

Imagine you and your wife, your husband growing all together.

0:27.1

For most people, buying your home

0:30.1

is one of the largest investments they would make

0:33.6

in their entire lives,

0:35.0

and making sure that you get it right.

0:36.8

Now, if you have watched my other videos,

0:38.9

I talked about the benefits, pros and cons of owning your home,

0:42.4

when you should own and when you should lease,

0:45.1

but assuming that you are ready,

0:48.1

and you're ready to take the leap of faith,

0:50.4

and you're ready to buy your first house,

0:52.7

what are some of things that you should watch out,

0:55.3

right? So don't buy a house until you watch this video. So before you go out there and buy your

1:01.8

first home, the first tip I want to give you is to make sure that you have consistent income

1:07.7

coming in. With the banks and the lenders, what they want to see is not just,

1:12.2

hey, you make some money this year, but next year, you know, your income stability is not there,

1:19.3

especially when it comes to self-employed. If you're self-employed, you are a business owner

1:23.8

to the banks, that is a risk because they're not so sure.

1:28.3

You may have a great first year, but are you gonna have a great second year?

1:31.3

What about third year? What about fourth year?

...

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