Revealing my real house in Las Vegas

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My PO Box:
Andrei Jikh
4132 S. Rainbow Blvd # 270
Las Vegas, NV 89103

I always wanted to own real estate. I looked at this house on Zillow in 2014, this specific house, not the model, but this specific house. 4,300 square feet, 3 bed, 3 bath, with a basement. Unfortuanately I was making roughly $50,000 a year at the time and even though the house was also worth a lot less then than it is today - I remember falling in love with it and not being able to afford it.

It was time to get a loan. I knew, if I had applied for a loan, with a large enough down payment if I sold all my dividend stocks at that time, I would have been able to get approved. I would have bought that house and I would have been house poor. I would have probably never left my job because this house would have tied me down for the next 30 years and I would have lost all the leverage I had to negotiate with my boss for a future raise.

He would know there’s nothing I could do - I’m stuck and financially which means I’m forced to work at my current salary - maybe your boss is not that strategic but mine was (Perks of working for a small businesses). Knowing that I never bought it, but someone else did. Here we are 7 years later and the house is mine.

The grand total price of this house was $735,000. I paid $5,000 over asking price - cash. I would have preferred not to pay cash because now 100% of my money is tied up in this house, and it’s not a little bit of money - it’s kind of a lot. I would have preferred to put down only 20% or $147,000 out of pocket and then kept the rest of the $588,000 in my bank account. That would have given me a bigger buffer to pay taxes, very important, and more money to invest in the stock market and buy bitcoin.

Having a mortgage would be advantageous for taxes because I would be able to write off property taxes and actually save even more money. So it’s a very big opportunity cost - it’s money that would be far more useful somewhere else. I can’t cash out refinance until 2 years anyway and if the house drops in the next 2 years, then I will only be able to take out up to 80% of what it’s worth at that time, not what I bought it for which in the future could be worth less - hopefully not though. The idea for real estate is to grow in value but 2008 proved that otherwise.

I got lucky on this and paid around $170 a square foot which for the Vegas market is an incredibly good deal. Thank you so much for making this happen, I wouldn’t be here without you watching my silly YouTube videos and I hope you continue watching my journey.


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