NO LONGER AFFORDABLE! WE ARE BROKE

"Car Insurance Rates Impacting Real Estate - Warning Signs in Auto Industry & Tips for Home Ownership | Florida Real Estate TV"

[00:02](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=2) Car insurance rates and car payments greatly affect real estate purchase ability

[01:32](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=92) Car insurance rates increasing significantly

[03:13](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=193) Impact of car insurance rates on home loan borrowing ability

[04:48](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=288) Start with an affordable car to maintain low debt-to-income ratio.

[06:20](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=380) Maintain low debt to income ratio for real estate investment

[07:54](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=474) Encourage prioritizing financial stability over flashy car purchases

[09:25](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=565) Extreme budgeting is essential for buying duplexes and triplexes in Florida.

[10:58](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=658) Achieve your desired item for free through strategic financial planning

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"Car Insurance Rates Impacting Real Estate - Warning Signs in Auto Industry & Tips for Home Ownership | Florida Real Estate TV"

[00:02](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=2) Car insurance rates and car payments greatly affect real estate purchase ability
- Current warning signs in the Auto industry indicate concerning numbers
- High car payments hinder ability to qualify for home ownership loans

[01:32](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=92) Car insurance rates increasing significantly
- Insurance companies are raising rates by 20% or more based on data and costs of car repair
- Personal experience of insurance rates increasing by over 10% in a year

[03:13](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=193) Impact of car insurance rates on home loan borrowing ability
- Lenders consider debt-to-income ratio which includes car insurance payments for home loan eligibility
- Lower car insurance rates can help increase affordability for buying a home

[04:48](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=288) Start with an affordable car to maintain low debt-to-income ratio.
- Lower car payment reduces impact on debt-to-income ratio and increases affordability of a house.
- Average car payments in the US are $738 for new vehicles and $532 for used vehicles.

[06:20](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=380) Maintain low debt to income ratio for real estate investment
- Keeping debt to income ratio low is key to qualify for buying properties
- Real estate is a sustainable get-rich slow game compared to get-rich quick schemes

[07:54](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=474) Encourage prioritizing financial stability over flashy car purchases
- Emphasize the importance of choosing a car that won't burden financially and provides potential income
- Highlight the benefits of low car payments, including saving money on insurance and improving chances for better property loans

[09:25](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=565) Extreme budgeting is essential for buying duplexes and triplexes in Florida.
- Florida has varying prices for properties, ranging from $200,000 to $1.2 million.
- Consider reducing high car payments and explore methods to generate enough money for a free car.

[10:58](https://www.youtube.com/watch?v=OXH1X5YzzKE&t=658) Achieve your desired item for free through strategic financial planning
- Robert Kiyosaki teaches the concept of investing in assets that yield returns to afford desired items without spending money upfront.
- Discipline is key to successfully implementing this financial strategy.

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