$100 Million Dollar Mansion: Why I Leased & Didn’t Buy.

so let me give you the reasons why I just leased this $100 million House in Beverly Hills why would I lease this for a year is that crazy well I'm going to tell you what Felix Dennis he had the three FS rule if it flies Floats or lease it don't buy it but that's not the real reason I'm going give you the reasons why I would do something crazy cuz we live in a world it's like if you lease a Lamborghini people think ah this person's dumb or they're trying to pretend or they lease a house you know this isn't an era BNB this is a long-term lease people are like oh and I'm going no use your brain they don't teach us in school financial literacy so let me give you some reasons 8 nine 10 reasons why I leased versus purchased now for me I buy Farmland I own Farms this is number one there are things you should buy and things you should lease I like to buy Farms Farmland has been the best risk adjusted return in in America in the last 30 years a home like this for 100 million I think I'd rather put my money in something useful like Farms although this is pretty useful too so Rome calls this a more of a hotel than a house got the elevator over here you got the bedrooms pretty cool I'm getting ready to put a grand piano in here what I also like about this house and reason number two is a lease for tax purposes and deductions if you've got a big wing of business like I do you get better tax deductions on a lease versus a purchase depending how you do it but if you know what you're doing I use this little thing to separate actually let's go this way first this room I'm turning into the yeah it's a sitting room but I'm going to put in Grand Piano I like to play the piano elevator I'm putting the logo on here so the next reason number three is flexibility so you got to know what motivates you there's four M of motivation I built a system it's a personality quiz M number one humans are motivated by material things number two humans are motivated by mating number three movement SL Freedom number four is Mastery SL status for me I found out years ago my number one motivator I'm motivated by all four but the strongest is movement Freedom so by leasing a home you can just be like I'll be in here for a year could be I I got a multi-year extension if I want to but I have the ultimate flexibility I might not like being here I've lived around the world you know I've got homes in multiple places and the world changes so you may want a lease even if it's a big100 million home like this okay here's the kitchen it's got a cool kitchen next reason is Charity never just live for yourself I call it the 50/50 rule you should spend 50% of your life life living for yourself and your family and people depend on you but 50% live for the good of others so this house is amazing I already did a big event a charity pool party you know this backyard will hold 800 people and I sold tables and all the profit from the little tables in the back went to charity so you can do good with a big house so now why Le versus own see the other reasons but you got a lot of a lot of stoves if you want to bake you got five stoves you got ranges here pretty cool I should put that in a reason but that's not a reason to lease versus buy but food is a good reason next reason to lease versus buy is maintenance responsibility you know how expensive this house is to maintain that just eats up Capital that you can do other things with a house like this got like 16 air conditioners things can break and you can drop a 100 Grand like nothing this marble this is a very wellb built house you know I still have some of the ropes from when I did my last party out here so I love the fact that it's like you're not responsible really for the maintenance when you if you negotiate your lease right next reason is when you buy you're making a bet on that location and places like California like this they've changed look up at property values up in San Francisco people thought things can never go down homes that were $10 million are selling for 5 million things that are million dollar condos are selling for 400,000 so because of the uncertainty of the modern world leasing versus buying you're not having to make such a long-term bet you drop 100 Mil for a house like this Beverly Hills you're making a strong bet on California and I don't know you've been watching the news California little cray cray so here it's great barbecue big parties we just have hamburgers hot dogs fun pool I like the I like swimming is underrated man jogging hard on the hard on the joints swimming there's a certain magic you look at those people like the males like the rock you know people from the South Pacific or in some of the best shape historically the people who swam a lot so I love swimming it's got to I don't know why we still have all the ropes up but I like to do my workouts outside when I can this has a whole gym I'll show you but another reason it's a great opportunity to test a place so if you negotiate a lease correctly you can a lot of times put that you have first option to buy so it's a great way this is the guest house here in the pool I got friends that stay here my mom when she comes to visit she likes to stay close but be a little bit separate so she stays here in the in the pool house this is where we had the tables for the charity thing was pretty cool we had the DJ over there so this room I'm turning Anton's here CEO here he's getting some work done but this is becoming the game room I'm going put poker table in here Super Bowl you can open this to outside you got your own bar here which is kind of cool but now I want to go back to one of the points of leasing versus buying when you buy the money that you put in let's say you buy a $1 million place 10 million 100 million that's not a tax deduction now sometimes if you're doing an exchange out of another property there's but that's a little more advanced I'm not going to get into that right now but the point being in general when you put money into a lease assuming you work with an accountant knows what they're doing good Tax Lawyer and you're genuinely using it for business purposes there's a tax deduction element usually you're not going to tax deduct the whole place cuz you're using some of it for personal but the reason a reason that I like to do a $100 million huge house is it's easier to clearly delineate what's personal and what's business I section it off and we at this house in addition to my office by the way get yourself a treadmill desk change your life right here I'm loading all my books in I have other homes so I'm trying to decide do I want to buy all new books cuz this place got such a good library or do I want to uh ship books I have more books in boxes on one of my Farms okay [Music] here as I said one of the advantages of leasing versus buying is the business element of it here this house has a ballroom I have a lot of my SE Suite not all my employees but I have like the leaders come and it's very easy reason I do $100 million house is it's big enough you have a personal section you walk in instead of me having to commute you do not want to commute in Los Angeles Rick Field here one of the chief branding officers he likes to have a very small monitor here Rick Rick has the world's largest monitor but yeah this is a cool place it's got very finely crafted kind of all of this work that they did is pretty incredible so yeah the business aspect obviously is very important to me okay another reason least verse by speed you know the the the founder of chat tppt he's going to become one of the richest humans in history I think it'll be one of the first trillionaires he said you know in the modern world speed beat skill so if you want to buy a home in general you don't want to just go drop money too quick without living in the area and you know without really doing your research when you're leasing since you know it's a flexible short-term Arrangement you don't have to think through that so you can move to a place let's say you have a business you know you're going to be doing business in California a business in New York I did this when I lived in New York I leashed a really cool place this is 9,000 square foot condo on billionaire row but I knew I didn't want to live in in New York forever so speed I was able to find a place in a month or two I didn't have to think is this my you know home forever it's a very scarfed place or Godfather I need to get the little say hello to my little friend video going there's a lot of bedrooms up here very important Heidi keeps a lot of my my books here me the books I read I stick in my office so I put them all here I read this one I like to go to sleep by reading three or four books if you ain't sleeping well don't be scrolling on your phone read it's as good as melatonin so it's got a beautiful Master here I hav't Philly even I I don't spend all my time here California is not my main home it's somewhere else and I also live in Europe part-time so another reason to lease why least versus purchase is I like to have multiple homes and I feel like when you own something you see it as your nest egg and you literally don't travel as much I know that's psychological but it's true well you got a Great Gatsby when I do parties you can come up here Great Gatsby style I've got a big party coming up by the way I'm doing these Mansion well I do these ma Mansion seminars in the ballroom and and I do these charity party so I'll put a link in the description if you want to see the calendar of the upcoming stuff so it's pretty cool get a little microphone give a little talk um this place has a great now very important it's ugly but I black out my windows I like to Black them out man big fan I'm I'm like a vampire when I sleep I'm going put I'm bringing my art this main thing this house is still missing is Art okay here you got this place has a couple Masters so you got Master number one and you got master closet now I have not moved a lot of my clothes and one problem with this place is I'm like I'm going have to buy a lot of clothing cuz you you'll see in a second that's the that's the hers I'll show you the [Music] him you got the his side and then you got this I haven't even bothered to put anything in this dang thing I own some clothing line but they're female clothing lines I need to own a male clothing line so I can just get all the extra inventory sent to me all right let's take all right we'll take the elevator down there's a a whole like made quarter made quarter area it's got a nice big big place this place they used to use it for like big charity events Brad Pit had an event here it's pretty cool but you know a lot of times if you do it right another thing I like is you can lease homes that will never come up for sale it's kind of cool because sometimes people don't want to sell the whole home so for me life is about Adventure not I'm not number one my core drive is not material things so like I said I like to buy farmland farmland has been the best risk adjusted return you know I'd rather own Farms that have a productive use than just homes or Mansions so here this is this as the world's most closets every there's like nine closets down here I won't go down here cuz there's people down here when I when I first looked at the home the realtor got lost in the house it was funny she's like uh I don't know where we are that goes back up and this is a you could fit up to 20 cars in the garage but my friend staying here and just one little Lambo I'm very I don't live in California full-time so I don't want to put too many Assets in California this is a cool stado you know but I'm trying to decide if I want to get a a phantom Rolls-Royce with a driver seemed always bougie but whatever so there's a whole another floor you got a den actually one of my favorite parts of this whole house right here so one reason to leasa house in Beverly Hills is they build cool houses you got a wine room in there I don't really drink much but I use this a lot it's got a really good sound system beautiful chairs I had first night I moved in like five friends and we all what do we watch borne the born experiment and it was like everybody fell asleep in the chairs everybody's snoring guys night everybody's sitting there snoring now this is one of the coolest parts of this house so like I said another reason to lease is you could get some crazy cool homes I've lived in some of the coolest homes in the world and if I was trying to buy them all I wouldn't been able to do that so for me the next reason to buy is Adventure I'm an adventure guy people always ask me Ty why are you still doing business you know I could have retired and had enough recurring Revenue probably in like 2007 or 8 you know why didn't I I like Adventure so a home like this is like I don't know maybe I'm too addicted to dopamine so let me turn the light on here now check this out you got an indoor pool sauna this is where I'm putting the gym equipment so there go by the way this doesn't just apply to houses you can lease good gym equipment like really high quality stuff if you don't want to drop 100 Grand sometimes you can lease it and give it back to them at the end same with cars you know this one has an amazing sauna steam [Music] room turn the light on Boom it's really healthy it's it's great I'm put you can put ice in there jacuzzi and have a ice clunge now what they did smart here is they just really well ventilated so it's not musty down here so by the way you know the next thing as I said this applies not just to houses but also to cars also to gym equipment don't be afraid to lease don't be afraid to lease as I told you at the beginning what Felix Dennis said about the three FS so don't listen people are financially illiterate they're like oh if you didn't buy it that something wrong do the cost benefit analysis sometimes it makes sense to buy sometimes it makes sense to lease if you know you want to be there for a long time like farms for me I don't want to be switching Farms You're Building improving I got Organic Farms you know you raise a family there I'm going buy those but adventure fun business uses Flex flexibility lease applies to houses cars Jets oats gym equipment you know so if you want to come to one of the seminars there in the ballroom got the high net worth seminars we're talking about stuff they don't teach in school it's not just bougie like high net worth it's like things that they don't teach you about money so check the calendar for the next event or go to my Instagram and just DM me Mansion the word Manion sh [Music]