Unless you have a net worth of at least $20M, what in God’s name are you owning a house for? Let’s talk about getting more money from your money. Michael Young started his diverse real estate career right after graduating high school. His original training was working in his family real estate business where he was part of developing apartments as well as responsible for the sales of hundreds of homes. After being Top Agent for Coldwell Banker for many years, he established his own company, Princeton Pacific.
[00:01 – 05:22] Opening Segment
Paul gets right into his background and what he learned from selling his home
Fiction vs. Reality - let’s look at the numbers
The opportunity loss from Michael’s transaction 
[05:23 – 08:37] Fiction vs. Reality - The Numbers Don't Lie
Calculating the cash-out ReFi
Reality check - why are you owning a house?
Total amount Paul could have made
[08:38 – 16:58] Buying Toys Won't Pay You Back, Assets Will
The effects of delaying gratification
Example from a friend who bought an expensive car
What I will make on the Cleveland Deal
Your money should be in assets, assets will pay for your toys
The type of assets you buy matter
Cash-flow and scale 
[16:59 – 17:50] Summary
Final advice, and words from me Michael 
 
Tweetable Quotes:
"Unless you have a net worth of at least $20M, what in God’s name are you owning a house for?” - Michael Young
“Until you have the asset base to back up these toys, which everyone’s entitled to… You’re really making a mistake, the numbers don’t lie.” - Michael Young
 
You can follow Michael by emailing michaelyoung@mycrealtor.com and check out https://www.princetonpacific.com/ (https://www.princetonpacific.com/) to start building your wealth the smart way.
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