Graham Stephan has been a millionaire for several years. But until recently he didn’t live like one.
The YouTuber-turned real estate agent, who has more than 3.4 million followers on his main channel and is set to make $ 6 million this year, made a huge improvement to his living situation when he moved from Los Angeles to Las Vegas last December.
Stephan, a born and raised Angelino, decided to leave California at the beginning of the Covid pandemic lockdowns last year. While stuck at home, he had doubled in size on his YouTube channel because he had run out of real estate and decided he wanted more space than his 700-square-foot maisonette could offer him.
While on a trip to Las Vegas to visit a friend who had just moved 20 minutes from the Strip to a new housing development, Stephan learned that an unfinished house next door was for sale.
Graham Stephan spent an estimated $ 100,000 on furnishing his Las Vegas home, including $ 16,000 on a grand piano.
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“We’re really good friends and work a lot together,” Stephan told CNBC Make It about the appeal of moving into the same complex. “And I could buy this house and we could live next to each other.”
He completed the 3,900-square-foot, four-bedroom home in the summer of 2020 for $ 1.44 million with a 15% down payment. However, since Stephan was acting as his own agent and collecting a 3% fee, he ended up with only $ 172,000 out of his pocket. His monthly payment is $ 5,075 for a 30-year fixed-rate mortgage.
Since the house was in brand new development and still under construction, Stephan made his decision based on digital renderings and said he had “taken a leap of faith that it would turn out well”.
“I really had no idea what the floor would look like, what the kitchen would look like or anything,” he says.
What he knew was that the layout of the house was “perfect” for his growing team, with plenty of space for an office and podcast studio, as well as an extra bedroom for his assistant to move in and help him run his five YouTube channels -Channels. Stephan had previously created his YouTube videos in a garage office without air conditioning.
Graham Stephan bought his $ 1.4 million home without knowing what his finished kitchen would look like.
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And despite the seven-figure price, Stephan has the feeling that he has made a “really good bargain” for his own home.
“Since [closing on the house], Property values in this community are up 15 to 20%, “he says.” A lot of people are moving to Las Vegas, and I don’t see that demand stopping anytime soon. “
When it comes to furnishing his home, Stephan made no compromises. He spent about $ 100,000 on furniture and artwork, including a giant neon sign with his slogan “Smash The Like Button,” and an $ 80,000 piano that he bought second-hand for $ 16,000.
The centerpiece of the house is the 310-gallon aquarium, which is located in the entrance area. Stephan has so far invested $ 45,000 in the pool, equipping it with high-end water filters and lighting equipment, and filling it with fish, shrimp and coral. It is also home to around 50 hermit crabs and 70 snails.
While he was once working on videos in his garage, Stephan now has his own office that contains an exact replica of his original set, which is still in Los Angeles. To maintain full continuity between his videos during the move, he even got another aviator wing table and a T-Rex skull.
Stephan works with his editor Jack, who also lives with him.
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Stephan also spent an additional $ 115,000 on an outdoor pool and hot tub, as well as landscaping his yard.
In Las Vegas, he enjoys more than just the extra space. He says escaping the infamous LA traffic collapse was a massive improvement in the quality of life.
“I love the fact that there is absolutely no traffic in Las Vegas and that I can go anywhere on Fridays at 5 p.m. and it doesn’t take me two hours to drive five or six miles,” says Stephan. “And the culture here is amazing. The food is amazing. Anything you want is a 20-minute drive away.”
When most people think of Las Vegas, they immediately think of the gambling and the shows on the Strip, says Stephan, but he has found peace in the desert.
“Las Vegas has really grown into such a nice, supportive, and friendly community,” he says. “When you get off the strip, you realize that it’s a completely different lifestyle from what people imagine.”
The lack of a state income tax in Nevada doesn’t hurt either.
“I save 13.3% [on taxes] by living here, “says Stephan.” That gives me more money that I can reinvest elsewhere. “
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