Should You Ever Buy a Multimillion Dollar Home? | Ep. #562

In episode #562, Eric and Neil discuss why you should probably not buy an expensive home. Tune in to hear on what you should actually be spending your money on. TIME-STAMPED SHOW NOTES: [00:27] Today’s Topic: Should You Ever Buy a Multimillion Dollar Home? [00:34] The home Eric just sold was worth close to a million. [00:43] Neil has lived in some big homes. [00:55] Neil had an expensive condo on the Las Vegas Strip because the builder was selling them for less than their value. [01:20] Neil doesn’t think homes are valuable and a waste of money. [01:34] Neil’s friend has a two-bedroom condo and believes real estate is one of the worst investments. [01:52] You could make more money investing in Tech. [02:00] If you are interested in real estate, look up Grant Cardone, who has a funny YouTube channel all about it. [02:09] Eric’s mom is a real estate agent and she is always pushing him to buy a home. [02:31] Eric and Neil would rather invest in businesses and themselves. [03:19] All the homes Neil has ever purchased were for investments. He believes in staying in hotels and dumping money back into tech. [04:00] Instead of wasting money on a down payment, put it back into your business. [04:13] You are better off renting. [04:54] Warren Buffett talks about staying in your lane. [05:10] Eric and Neil focus on investing in what they are good at or that they understand. [05:38] If you choose to have a big home, use it to have dinners for entrepreneurs. [05:57] Dinners led to $200,000 in deals for Eric’s company. [06:15] Eric originally paid for dinners, but then found a way for his guests to pay for it. [06:23] He used Eventbrite and put a price on the ticket to dinner. [06:37] That’s all for today! [06:39] Go to Singlegrain.com/Giveway for a special marketing goodies giveaway! Leave some feedback: What should we talk about next? Please let us know in the comments below. Did you enjoy this episode? If so, please leave a short review. Connect with us: NeilPatel.com Quick Sprout Growth Everywhere Single Grain Twitter @neilpatel Twitter @ericosiu Learn more about your ad choices. Visit megaphone.fm/adchoices See omnystudio.com/listener for privacy information.