How I Bought My NEW Las Vegas Home For $0

Graham Stephan

411 миӊ. көрүүлөр66

    Here is how I effectively was able to buy my Las Vegas Home for $0 out of pocket, and we'll talk about JUST the financial aspects behind the move - Enjoy! Add me on Instagram: GPStephan LIMITED TIME: Get 3 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $1400): act.webull.com/k/Vowbik9Tm5he/main
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    Here in the United States, you first have whats called your FEDERAL tax bracket, which is how much you owe the IRS, depending how much money you make. This is the same WHEREVER you live in the United States, this is all the same for everyone…except Puerto Rico, but that’s the topic for another video.
    NOW…In ADDITION to paying FEDERAL INCOME TAXES…almost every state has an income tax that you owe THEM, completely separate from the IRS. As you can see from the chart, some states have ZERO income tax - like Texas, Nevada, Tennessee, Florida, Washington, and so on…and others range anywhere from a few percent all the way to 13.3%.
    Now, if we approach this from PURELY a TAX STANDPOINT - Las Vegas does not have ANY state income tax
    I was able to get a fixed mortgage at 2.875% interest, with 15% down, for 30 years, at a $1,440,000 purchase price. That means my monthly mortgage is going to be $5,078 per month, my property taxes will be about $1050 per month, the HOA is $300 per month, and my home owners insurance is $200 per month.
    That means my TOTAL out of pocket cost to own this home is $6,628 per month…however, when you pay a mortgage, a portion of that goes towards home equity as you pay down the loan…meaning, when you account for $2150 per month going towards home equity, my “total out of pocket” is ACTUALLY reduced to $4,478 per month to own this home.
    Not only that, but because I’m planning to use half of the house exclusively for business and filming, HALF of that amount is a write off against my gross income - bringing my out of pocket cost, after tax write offs…to $3582 PER MONTH to own this home.
    That means that, even though this house had a purchase price of $1,440,000 and it’s costing, NET, $3582 per month after write offs…not only do I get an extra 2000 square feet to create new filming locations from, but I’m also able to SAVE $33,000 PER MONTH since Las Vegas has no state income tax.
    Now, of course - for anyone curious, YES, I WILL STILL OWE California State Income tax on ANY revenue generated from and in California. That means that all of my rental property income in California will be subject to State Income Tax, and any business I do in California will be carefully accounted for so I can pay the appropriate tax. But, because nearly everything else that I do can be done remotely - moving here gives me significantly more opportunity to continue growing and expanding, and bringing YOU even better content to watch day after day.
    This is certainly not to say that EVERYONE can do this because there are a lot of factors to take into consideration…but, for me, that is how I broke down the math with how it pertains to myself and this home.
    For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
    *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

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    Жорумдар

    1. Clash toons

      As soon as i click like i heard a glass break sound and I was scared.

    2. Michael H

      Is it true Cali is going to 18% income?

    3. SkizVids

      You know you’ve made it, when you’re moving location to reduce taxes

    4. Geir Balderson

      Hold on to a dollar until it starts to hollar! Good video by the way.

    5. Suzy N.

      I watch your videos a lot and really enjoy most of them. This one really disappointed me. I feel like you just threw away your hometown, the place you've lived your whole life, because it was no longer living up to your expectations. Be the change, Graham! If you didn't like what was happening in LA, who has the power (and the money) to change it? Not the homeless person sleeping on the curb, that's for sure. I feel like people like you who have the system figured out and have been successful at making money hand over fist have the responsibility to give back to the community that supported them. Please do a video on what you are doing to give back to your community (besides the videos you post, as you profit off of them) with no thought of being compensated for your effort.

    6. HuseViews

      Awesome content as usual!

    7. Justin'sTV tv

      Hey Graham if you want to safe more money get solar panels solar is booming here in Las Vegas I work on solar panels

    8. Justin'sTV tv

      Welcome to Las Vegas I live in Las Vegas too

    9. James Finley

      Almost every state steals money from its rightful owners***

    10. Christopher Velasquez

      I get it, You're rich. But not LA rich. Got it

    11. June Taylor

      Lol ok honestly you don’t really pay less tax then we do in Europe...

      1. Adrian

        really?

    12. FitStem

      Graham, are you planning to rent this house later in the future? And do you think the house market price will grow there like how you predict in LA

    13. Dallas Hall

      Make sure you vote red now that you’re in Vegas..or taxes will go back to what they were in CA. Dems ruin communities.

    14. Relax Kid

      madinaramamo

    15. Arrow Lawn Care

      It worked lol

    16. Ludde Ludvig

      I just have one question. How did you go about the position of the house. No offense but its in the middle of a desert, near a big hill that will hide the sun early and might not be a very nice view to look at maybe. I just want a insight in your way of thinking in that aspect! Love your videos btw

    17. Ceal 404

      it's awesome that you can write off some of the costs are it's technically a live/work space. Did this have any impact on getting your mortgage or the type of mortgage you applied for?

    18. Str8upbrah

      Step 1: Make 3.5 million a year

    19. mahdi islam

      Graham, I am a bangladeshi who wants to learn all about the real estate business, Even though I live in another country with different laws, I still want to learn about your skill and ideas to implement them in my life....can you give me some advice on how I should I get the knowledge to become better at these craft please.

    20. William Ryan

      Click bait haha. At least the description sheds more light haha!

    21. Kaiō

      PLEASE break down taxes, business, llc vs s-corp vs llc (w/ tax through) and how to make smart decisions with all this... Man my mind is spinning at how much I need to learn.

    22. Well Behaved Wallet

      So true! In summary "If you wanna build wealth, you gotta save/invest." Bonus points if you end up with some pretty sweet real estate. Thanks, Graham!

    23. Pafiro

      Well.. I just smashed the like button so hard you teleported.

    24. Jungwon Lee

      at first i thought the home value was 1.44m, but seems like the downpayment (15%) is 1.44m? which means the home value was 9.6m?

      1. Harry Tibbs

        The house value is 1.44m which he got a mortgage for by putting down 15% of 1.44m

    25. Dm_Falls

      Just a question, if you market your business for example as a dog toy store and buy up land for the business and then sell the business locations to other people (Making You A Retail Company.) When the buyer of the place rents the shop and the land. Would that money be the same money as buying houses. Basically what i am saying is if retail can get different sources of money besides houses.

    26. Real Estate Broker Alex Zeta

      Awesome house!

    27. Maru in Las Vegas

      cool vid! thanks

    28. Taylor Brown

      Dang dude! Smart choices that are going to pay off big. Excited to see what you do with your new studio spaces / businesses. If you want any help with lighting / camera stuff id be glad to help !

    29. armaan mhate

      Damn taxes are high in America

    30. antvids05

      Love the transparency in this video. Thanks for sharing

    31. Balanced Finance

      This video will inspire many people to move Las Vegas.

    32. T Black

      Bro you got to sort the echo ahaha. Great video tho

    33. Bettye's Cooking Channel

      I'm happy I live in Texas, with no state taxes. Great video.

    34. Hunter Millsap

      IM MOVING TO VEGAS. SLUTS HERE I COME... SLOTS* SORRY

    35. Xen

      You should look at Nashville Tennessee, it’s great!

    36. NeXD.

      Dude, just write a book , you're awesome

    37. Syn

      I didn't know things you do for content can be a tax write off. You should make a video on this Graham because not a lot of creators know about it especially the younger ones like me D:

    38. Rajesh kumar

      Im 16 i dont know y im here, anyway im having a advantage

      1. Harry Tibbs

        I’m 16 and I’ve been watching him since I was 14 lol 😂

    39. Robert Erod

      smashed

    40. RUACH PNEUMA

      Cali is too damn expensive.

      1. Harry Tibbs

        America is too damn expensive

    41. Justin Sullivan

      This wasn't free at all IDC what you do with your money but you are clearly not as cheap as you used to be lmao

      1. Harry Tibbs

        There are other factors to

      2. Harry Tibbs

        Well it’s not a free house but he’s going to be making more from being there. He will be saving $400,000 from state income tax so in 3 1/2 years he will break even. That isn’t even including how much the house will go up in value as it is built in a brand new neighbourhood and he got it significantly cheaper than what it would be worth fully built

    42. Anders Vereide

      its insane how little taxes you Americans have to pay compared to Norway

    43. Cristcha Esarehg

      Didn’t known California’s taxes so high, I’ll be damned

    44. Yovani H.

      :)

    45. AntTheEpic

      I wanna be a real estate agent now

      1. Harry Tibbs

        Also you gotta always be consuming real estate at all moments of your life

      2. Harry Tibbs

        Only do it in America or places where you have to have a real estate license to sell a house. In the U.K. you don’t need any training or licenses however it’s a dead end job and extremely hard to go off solo or even join a group. Btw you’d also be paid a salary and nothing in commission for your first 10 or so years on the job.

    46. jim carson

      4:30 In Ca. with a Mello Roos plus local tax and 500K home would be around 12K a year in tax.

    47. Laurajanehahn

      people in australia paying 30-45% income tax crying watching this

    48. Cristina C

      I cannot stop looking at your 'stache o_o

    49. Ivan Franchi

      20 cent iced coffee will be 10 cent in Nevada ahahah

    50. Rick Skawinski

      Graham can you do any videos on remote worker tax situations? I know there are so many edge cases (i.e. remote working from NYC to SF = you pay NY State/NYC City (domicile), but SF to NYC you pay both CA state and NY State/NYC city and have to get a credit during tax time for double paid states).

    51. Rick Skawinski

      I got a 2.875% 30 year note too! Closing Nov 23rd :D

    52. Matt

      Vote YES on prop 15.

    53. Ajnos Ajnos

      SO MISLEADING NOT EVERYONE IN CALIFORNIA PAY 13% IN STATE INCOME TAX; ONLY MILLIONAIRES.

      1. Harry Tibbs

        @Ajnos Ajnos it is a bit, idk how familiar you are with graham but he made a video of how he got a Tesla to basically pay for itself - now whenever he makes a significant purchase like a house he makes a video with this title. Idk I guess it’s the couture of the channel. It is very misleading to new viewers though.

      2. Ajnos Ajnos

        @Harry Tibbs This is very misleading though.

      3. Harry Tibbs

        Well yes... he is a millionaire

    54. Ajnos Ajnos

      DO A VIDEO ON HOW THE AVERAGE PERSON CAN GET A HOUSE FOR NOTHING AND NOT JUST HOW MILLIONAIRES LIKE YOU CAN GET ONE FOR FREE!!!!!!!!!!!

      1. Harry Tibbs

        @Ajnos Ajnos I still recommend having a look at a few vids of his from 2018 though he might mention some things you can put into use

      2. Harry Tibbs

        @Ajnos Ajnos I see what you’re saying now. It would be quite hard for average people but id love to see him try and at least figure something out to reduce costs at least.

      3. Ajnos Ajnos

        @Harry Tibbs It's not about size. It's about how average people like you can get a house for free. I am glad he put this out here because most people are unaware of this. But most people watching this are average incomers so present some info on free houses for them which would help them tremendously.

      4. Harry Tibbs

        Well you can but it won’t be a big massive house - or anything above 250k. All I can recommend is find a duplex or an apartment building you can buy - get a mortgage (you’ll probably need to save a 5-15% deposit and have a good credit score) and rent out the apartments or the other half of the house to cover the mortgage and any bills and possible make a profit. If you own an online business or work from home you can deduct your taxes because of it. If you live there for 4-5 years the house would’ve probably gone up in value enough to at least cover your deposit. Hope this might’ve at least sparked a few ideas but you can watch his previous videos about house hacking, investing or anything and he’ll probably be able to inspire an area of your life which you can monetise.

    55. Christine Helm Eller

      I have invested with some scam brokers in the past, and the story is as horrific as the ones I have read because I went through the ordeal myself. I lost almost $40,000 USD to this unfortunate brokers, a friend referred me to Mrs Claudia Walter's that got me 80% of my money back, plus my accured bonuses. Please stay clear of these scammers and if you have lost money you can still get your money back if you really want to,You can reach out to Mrs Claudia via whatsapp(+1 321-638-6668) inform her that I referred you to her for quick response she definitely help you in getting back your lost funds to any broker..... As mine was recovered too

    56. Antonio L.

      I think it's a good move but I hated living in Vegas lol.

    57. Eduardo Rodriguez

      you took 25 seconds after I smash the like

    58. MRC Wood Works

      Dude made useless videos of stimulus check updates and he actually cashed in

    59. Bcall 54

      Another clickbait title, woopty doo

    60. Danny Martinez

      Love living in Puerto Rico lol

    61. Rich Zellmer

      Its not a coincidence he is planning to make his Las Vegas studio look exactly the same as his Los Angeles studio.

    62. Tabot Tietjen

      Have you ever lived in heat like Vegas has? Everyone I know who has moved to Vegas left within 10 years. There is no culture or sense of place. Just a continual blah of never ending blandness

    63. Sabrina Tatalias

      taxation is theft - but this makes me realize I need to move out of Pennsylvania lol

    64. James Reddick

      If you're from California, PLEASE DON'T COME TO VEGAS

    65. Katherine Mary

      Yeahhhh slightly misleading.. you still put down a deposit, what you mean is you bought a bigger house at no extra cost 😅

      1. Harry Tibbs

        Yeah he does this but it is more to inspire you of ways to get things cheaper, etc lol

    66. James Locke

      Where in las vegas? Summerlin west side or Henderson? That area seems like summerlin new constructions on the west side. Great area

    67. JamesAGuitar

      You said you don't typically cover topics like this, but please, cover more topics like this! :)

    68. David Wall

      dude the like button thing worked... I feel like a wizard.... perfect timing

    69. Abby N

      An HOA is such a waste to me. Thats 3600 a year on HOA. Way more than those iced coffees.

    70. Brett Nieman

      Graham math deception...whens the video coming on how you paid $0 for your 20% down payment?

    71. drc

      Get that pre-nup signed son.

    72. EdCardenas

      I was about to follow but then I noticed all the adds on your videos

      1. Harry Tibbs

        Let him make his money, you are watching him for free yet he’ll spend 10 hours shooting, editing and making his videos

    73. Displayed

      I like how I learn more on the internet than school

      1. Harry Tibbs

        Internet > school

    74. Wally J

      In Australia we pay 45% on everything over 180k >:l

    75. McLOVIN

      Since you film in a studio.. technically.. can't you make the studio in Las Vegas look exactly the same as the studio in Los Angeles and secretly film in the LA studio (but saying it is the LV studio) while claiming 0% Las Vegas tax?

    76. Brad Gagne

      Thanks for the video Graham. Can you go into the tax write offs in detail next video? I appreciate the info.

    77. Valentin A.

      Have you had any other employees besides Jack? You have to take care about their well being. Pooring money does not automatically provides well being. Who will Jack meet up and hook up?

    78. Erik Godinez

      React to how shaq spent 1 mil in one day

    79. Zama’r

      Hey Graham how’s it going, I’m currently 20 years making 6,000 a month after taxes and I’m currently looking for another income or incomes to bring in as close to 10,000 as possible. Please help if possible, just need some tips to hustle towards not a handout. You give me the tools I’ll do the rest.

      1. Harry Tibbs

        Well like the scammy bots said btc is quite good if you have about 10000 dollars to learn lol. See Graham’s videos - he has like 4 side hustles videos (they all require a bit of an investment but nothing that you wouldn’t be able to afford). Congrats on making 6k a month

      2. Andrew Cartwright

        *+ 1 9 1 4 2 0 6 8 2 9 4* Do well to tell him I referred you his strategies are top notch. He's the best broker l know

      3. Andrew Cartwright

        WRITE MY MANAGER THOMPSON ON WHAT SAPP TO MAKE GREAT PROFIT IN BTC He's currently trading my cryptos for me and his making me huge profit

    80. Grant Navarre

      I love it man! CONGRATS!

    81. Janhavi Savla

      Stupidest logic EVER! You're literally moving to another state which will have a completely different lifestyle! Also, you would've saved more money( 10% state tax cut ) had you lived in Vegas since the beginning ( LOL XD ) Moving to a cheaper state will obviously reduce your costs but what abt the lifestyle factor? You still have to pay 1.5 Million for that house! 😒 Don't be so cheap when you're earning 1.5 million a year!

      1. Harry Tibbs

        He’s also very cheap as he likes to save and invest his money, this house is after all an investment as it will be saving him money

    82. jan olend

      I saw that Like pitch coming 10 seconds far xD

    83. G4rvit

      I wish i was as good as you in maths

    84. Maya makia

      How did you get such a low rate? Did you negotiate or did you buy the rate down?? Amazing

      1. Harry Tibbs

        He has an amazing (800+) credit score. Also he is a very reliable client as he has many other houses

    85. Il Conte

      This title was slightly misleading. It should have been "how much I've saved by moving to a no income tax state"

      1. JJ Gamesworth

        @Morris Simons Dude why live in a state with the highest tax rates and highest homelessness and terrible leadership. Rich people are people too and they like to save money too. Graham has probably saved millions, and if he was a regular middle class citizen or upper middle class citizen he saved thousands upwards to hundreds of thousands.

      2. Morris Simons

        @Il Conte just because you can do something doesn't mean you should. Basic reason behind the phenomenon called moral. I agree that it's sad that the tax rate is low and people can take advantage of for personal gain.

      3. Il Conte

        @Morris Simons Blame the officials who set up a 0% tax state, not the people who take advantage of it. Granted that state probably has shitty schools and public services, catering to the rich only. All you have to do is not live in that state. Also, he will still pay California taxes for all the income generated from the properties there, so...

      4. Nama Doodoo

        @Sebastian Pirola no technically he is wrong. He did not purchase his house for $0

      5. Morris Simons

        sad to see that so many rich people do everything to avoid taxes and let others pay for it. Lost respect to this dude

    86. gary abrego

      im a realtor here in las vegas and would like to know where exactly this is at cause i dont recognize the area

      1. Harry Tibbs

        I think it’s very new, he did a video on it a couple weeks ago

    87. mastrgamr

      First of all, those fire alarms giving me Shell Shock syndrome. Damnit

    88. Lexi 10

      and people still want to continue taxing the rich!

    89. Jayden La

      STOP lying about your numbers man to make videos. You make our jobs (yes.. real financial guys) harder in the real world because all your viewers think that these numbers are realistic and not just for your youtube channel. If it was that easy, wouldn't more people have done the same???? GTFO with this BS

      1. Harry Tibbs

        Rah, yt or a social media influencer is a realistic job. Not millions of followers level but it is realistic enough to earn 40-50k a year.

    90. Jelani Lewin

      The timing Graham, you teleported the instant I smashed the like button

    91. no

      You should make a video about your house plan

    92. Eric Kim

      Las Vegas sucks I hate that city after 2 days

    93. Onepiece barca

      This video should be shown to kids in schools as an educational video.

    94. SKATEINFORMANT

      This video alone taught me more than all my school years combined. USEFUL knowledge.

    95. Sushant Gupta

      You have lots of properties and you also have got lots of properties constructed, so can you help me out?

    96. Sushant Gupta

      Hi Graham, I need your help, I live in Orange County California and I am converting my garage into ADU, I’m not able to find a good contractor, most of them seems to be scammer, and I want to get my garage done in parts, Because of the pandemic I don’t have enough money right now, so I cannot hire one contractor and get it done altogether

    97. Michael Hollen

      I’m curious why your down payment was 15% and not 20%?

    98. Stephen Duncombe

      But there's no green grass in Vegas!!!

      1. Harry Tibbs

        That isn’t a must for everyone

    99. netzkmartin

      Do a video on finding the lowest mortgage rate!

    100. Kyle Holmes

      Why didn't you put 20% down? I would think with a $1.4 million dollar purchase, PMI is about $1,000 per month, right?