Inside the $ 1.4 million house of a YouTube millionaire in Las Vegas
Graham Stephan has been a millionaire for a few years now. But until recently he did not live as such.
The real estate agent turned YouTube, which has more than 3.4 million subscribers on his main channel and is set to make $ 6 million this year, significantly improved his life situation when he moved from Los Angeles to Las Vegas in December of last year.
Stephan, a born and raised Angelino, decided to leave California at the start of lockdowns from the Covid pandemic last year. While stuck at home, he doubled down on his YouTube channel because he couldn’t do any real estate work anymore and decided he wanted more space than his 700 square foot duplex could give him.
While traveling to Las Vegas to visit a friend who had just moved into a new development 20 minutes from the Strip, Stephan learned that a nearby house to be completed was for sale.
“We’re really good friends and we work a lot together,” Stephan told CNBC Make It of the appeal of moving to the same resort. “And I could buy this house and we could live next to each other.”
He closed the four-bedroom, 3,900-square-foot home in the summer of 2020 for $ 1.44 million with a 15% down payment. However, because Stephan acted as his own agent and collected a 3% fee, he ended up spending only $ 172,000 out of pocket. His monthly payment is $ 5,075 on a 30-year fixed rate mortgage.
Because the house was in a whole new development and was still under construction, Stephan made his decision based on digital renderings, saying he “took a leap of faith this was going to be okay”.
“I really had no idea what the floor would look like, what the kitchen would look like or anything like that,” he says.
What he knew was that the layout of the house was “perfect” for his growing team and had plenty of room for an office and a podcast studio, as well as an extra bedroom that would allow his assistant. to move in with him and help him. run its five YouTube channels. Previously, Stephan had created his YouTube videos from a garage without air conditioning.
And despite the seven-figure price, Stephan feels like he “got a really good deal” on the house.
“Since [closing on the house], property values in this community have gone up 15-20%, “he says.” A lot of people are moving to Las Vegas, and I don’t see that demand stopping any time soon. “
When it came to furnishing his house, Stephan didn’t skimp on corners. He spent around $ 100,000 on furniture and artwork, including a huge neon sign with its slogan “Smash The Like Button,” as well as an $ 80,000 piano that he bought used for. $ 16,000.
The centerpiece of the house is the 310 gallon aquarium that sits in the entryway. Stephan has so far invested $ 45,000 in the tank, equipping it with high-end water filters and lighting equipment and filling it with fish, shrimp and corals. It is also home to around fifty hermit crabs and 70 snails.
While he once worked on videos in his garage, Stephan now has a dedicated office that includes an exact replica of his original ensemble which is still in Los Angeles. In order to keep complete continuity between his videos during the move, he even got another aviator wing desk and a T-Rex skull.
Stephan also spent an additional $ 115,000 on an outdoor pool and hot tub, as well as landscaping his backyard.
In Las Vegas, he enjoys more than just the extra space. He says escaping the infamous LA traffic jam has been a massive improvement in quality of life.
“I love that there is absolutely no traffic in Las Vegas and that I can go somewhere on a Friday at 5 pm and it doesn’t take me two hours to go five or six miles,” says Stephan. “And the culture here is amazing. The food is amazing. Anything you want is within a 20 minute drive.”
When most people think of Las Vegas, they immediately think of gambling and shows on the Strip, says Stephan, but he’s found peace in the wilderness.
“Las Vegas has really turned into such a nice, supportive and friendly community,” he says. “When you step off the Strip you realize it’s a whole different way of life than people imagine.”
Nevada’s lack of income tax doesn’t hurt either.
“I save 13.3% [on taxes] living here, ”says Stephan. “It leaves me with more money than I can reinvest elsewhere.
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