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I mean, for $300, I would buy it for $300. For $1,000, I, you know, realistically, I'd probably pay all the way up to five grand because I would take a gamble on that. Let's talk about the best money advice you've heard or taken. You're going to hate this. I keep going back to this. I won't hate it. Building my credit score. That one, that one I will hate.
What's up, George? It's Guy's here, and I'm super excited about today's video. And before you jump in the comment section going, um, that's Graham's thing to say that. Listen, I know because he's in today's video, so I thought it was appropriate. That's right. I'm hanging out with the one, the only Graham Stephan today. He's a real estate agent and investor who got into the biz at the age of 18 and since then has done over $130 million in residential real estate sales.
And of course, he's kind of a big deal on YouTube. As you know, Graham talks a whole lot about personal finance and real estate, a lot of the same stuff that I'm into, but we don't see eye to eye on everything. And despite all of that, our friendship has blossomed.
Now, Graham was a millionaire at age 26, but the guy is frugal as all get out. He refuses to spend any money on coffee. So when he was in town here in Nashville, Tennessee, he stopped by the Ramsey Solutions headquarters and I bought him the best cup of coffee in town.
Well, at least the best cup of coffee within like a three mile radius. And I took him for a spin in the old Tesla because we're both Tesla fans. And we talked about all sorts of things. NFTs, crypto, the best and worst money advice he's ever received. And we captured the whole conversation so we could share it with you guys right here. Enjoy. So I thought because you're a frugal guy, you never spend money on coffee. And so I thought, let me treat the guy. Oh my God.
To some of the world's best coffee. You know what's so funny? Chick-fil-A. I literally made my own coffee this morning from the Airbnb. That is next level. To avoid going and getting coffee. How do you justify, like, I'm going to spend six figures on a car, but I won't spend $3 on an occasional coffee? Because the car's an investment. Like, if I could buy this,
and have it be worth the same amount a year from now or go up in value. I'd do it. You could probably do it. Graham Stephan year old coffee on eBay. $4. For me, a coffee's gone when I drink it. Car is something that I could drive for a year, enjoy it for a year. Well, in the cars you're buying are investments because you can't, they're like collector cars.
Oh, yeah, yeah. I would never go and buy like a... Generally, cars are a depreciating asset. And if you buy, you know, the car is generally going to be worth a lot less than you paid for it down the line. Did you skip the line or no? No, this is starting the drive-thru. Chick-fil-A in the South is a different animal. We got the double, triple drive-thru lanes. I saw all the cars. I'm like, oh, man, did you just skip that?
Listen, I'm like, I got precious cargo. Okay, we're skipping the line today. I'm just going to say, I got Graham in here. They're going to be like, come again? The 14-year-old working at the drive-thru is the homeschooler. He's not going to know.
Couch this because our friend is about to ask us questions. Hello, good sir. Joel? Yes, sir. Pleasure. This guy, he doesn't spend money on coffee, so I'm treating him today. He's got the money. Don't worry. He just doesn't want, he likes to make his own. Do you have a cold brew with like, just a cold brew with a little cream? Yeah. Yes! Joel, lean into the camera and say what's up. Right here.
Glean it. You can see it right here. Get in there. Right there, right there. That's Joel. Grand fan. I love it. That's funny. I have to load my balance. You know how that goes, Joel. If it declines, I'll pay for it. Don't worry. Oh, my gosh. You know what? I'm just going to do this. Is that a credit card? It's a debit card. Don't be fooled. How many cards do you have now? Credit cards? I don't know. Maybe eight to ten. Eight to ten. No! Okay, so...
NFTs. NFTs. Non-fungible tokens. An NFT. I don't care if you buy an NFT. I just don't care. I'm doing my first official Donald J. Trump NFT collection right here and right now. NFTs, I feel like 99.9% is a rug pull scam. Selling pictures of dinosaurs that sparkle and calling them an NFT that...
I think it's a scam. There's some BS there. Where I think the benefit of an NFT is, is a verifiable source of ownership. Let's say you buy a Rolex watch. Having an NFT assigned to that watch that proves on the blockchain that you are the owner of that watch or buying real estate instead of having title
You might have an NFT that says you own this, but it's like a tag. It's no different than like a tag on a purse that says you own this. But this is what people are always like. Well, the technology. I'm like, OK, well, I don't invest heavily in Blu-ray because the technology is cool. She also doesn't care about Blu-ray. You know, they they.
sold Jack Dorsey's tweet for over $2 million. The guy is now trying to sell it for $40 million, and he can't get $300 for it. So if that doesn't tell you this whole thing is a scam. The thing is, I think that NFT should have got way more.
Because, I mean, for $300, I would buy it for $300. For $1,000, you know, realistically, I'd probably pay all the way up to, you know, $5,000. Because I would take a gamble on that. It's just, you know, $5,000, just see what happens. But for you, that's like funny money. Oh, yeah, yeah, yeah. For a lot of people, this is like life savings for some people. I'm never going to financially recover from this. Like, even for me, crypto, I think it's really important to keep it under 5% of your total portfolio as a gamble, as a risk. Instead of going and saying, I'm going to put it in Tesla stock.
you know, take an even bigger risk with crypto. I think there's a place for it. I think you could use it to diversify. As long as you're not going with stupid stuff. Yeah. I think Bitcoin and Ethereum are the only ones that I would ever have faith in. Have you thought about making your own coin? Oh, gosh, no. Because then you'll instantly lose all credibility. And
And what would the coin do? Nothing. Just like what every other coin does. No. I mean, any influencer that's ever done a coin that I've seen, instantly I lose respect for, and I never want to be associated with them. Well, most people, it's a flex. It's like, oh, I have this, and your buddies. It's like Pokemon cards. Like, I got the holographic Charizard. What do you have? It's a little bit of that. But.
But man, but then you got to time it like with Twitter and those, what are the board apes? Crypto punks. It's like, then you got to time it perfectly. And a lot of those are down 50%, sometimes 70%. Not a great investment. I'll stick to my 401k for now. Let's talk about the best money advice you've heard or taken. Was there like a thing that stuck with you? Like, man, I had this conversation. You're going to hate this. I keep going back to this. I won't hate it. Building my credit score.
- That one I will hate. Do you really need a credit score at your level? - Yes. - What is it doing for you these days? - Loans. So I was able to buy my last place for 15% down at a 2.875% mortgage for 30 years fixed. - Because of excellent credit? - Because I had flawless credit and that's something that I take a lot of pride in, making sure everything is paid off.
So do you carry any debt outside of the mortgages on properties? I have a small loan on the Tesla Model 3 that I first bought. But besides that, no. Your debt payments are this much. For a lot of people, we're seeing now car payment averages over $700. And they're drowning in student loan debt and hoping for forgiveness. I mean, the average American, this is a really bad situation.
I agree with that. And I think that's where I differ slightly is that I would say for the average person, like if you take a blanket statement, I would say what you talk about is correct. And that is the best way. I talked to that maybe 5%. It feels like they could handle that comfortably. Whereas I think most people are better off just staying away from it. Now, with your advice...
Basically, not everyone wants to or should get into real estate, which is how you got your start at A-Team. What do you tell those people? Is it still like you should buy real estate? Is that the path to wealth? Like if you had a, here's the step-by-step plan. Makes sense for most people. I think at the beginning, I was more adamant on real estate because it's all I knew. But once I started doing other things, I realized it's not the way to do it. And there are other ways.
I would say if you're settling down and you know you're going to be there for 15 years, 10 years, it makes sense. And I think for most people, most wealth is built in real estate because it's a forced savings account. And so I think for a lot of people, a house could be one of the best ways to make money. Just a primary residence. A good primary residence in a good area, in a place that you intend to live for 10 to 15 years, or like a duplex or a triplex or a fourplex, preferably that. So you could rent out the other units, live in one.
Build that. Which you did for a while. That's what I love. Yeah. Yeah. That's awesome. Okay. Before we go, biggest money regret. It can be a $4 purchase or a $400,000 purchase. I lost money in one venture that I did and it was because it was not involved. I was very busy doing other things and I didn't give it any attention and I've learned a lesson from doing that.
And I've realized that if I'm putting money in something, I have to be there. I have to be present. I have to be. You can't put it on autopilot. Yeah. And even though you might, you know, trust other people and have your faith in other people, I think at the end of the day, it's like whatever you're involved in, you're responsible for. Yeah. And so if I'm not able to get something my full attention, I shouldn't be doing it. You're over it. I love it. All right. Cheers. Cheers. Thanks, Graham.
Oh, make sure to hit the like button. Smash it. Destroy it. Destroy it. Huge thanks to Graham for stopping by and being on the channel. And let me know in the comments who else you want to see me hang out with on this channel. By the way, did Dwayne Johnson ever get back to us? No? We'll send him some Omaha steaks.