The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
This is a fair call by Dave. He explains “this is what we tell people to do, here’s why, if you want to do something else, look for more input elsewhere.” I don’t agree with his system necessarily, but it’s his system and that’s honest counsel.
@@abrahamflores2566 he explicitly says he doesn’t do pros and cons, he does his way or the highway. It’s dumb, but at least when he says it this way he’s honest, sometimes he just calls people irresponsible if they don’t follow him
@@adamseidel9780 honestly I love Dave so that's why I want him to evolve and continue success but eventually the population will catch up on financial education and his successors will not have the same success Dave did
@@abrahamflores2566 his advice isn’t for people with the ability to make sophisticated real estate decisions, it’s for people who need to stop buying a new truck and RV every three years
I used to believe that all investors suffer during inflation, but I learned that some investors can actually make millions of dollars. I used to think that everyone stopped working during the Great Depression, but some people started new businesses. Some people feel sad while others make money. It all depends on how you think. I have saved $250,000 to use for investments in the future, but I don't know much about investing.
I had a bad year with my investments. I lost 40k with META, 35k with ALLP, 6k with Draft Kings, 15k with NIO, and 8k with ABML. Unfortunately, my wife doesn't know about these losses. I'm listening to Jim Cramer's advice on how to manage my money during uncertain times. I may either hold onto my investments until things get better, or choose new ones that can make me money.
@@marcelldesiato6663 I like to have someone help me with my decisions when I buy and sell things in the marketplace. They are trained to make good choices in the short and long term and also to protect me from losing too much money. They have special information and analysis that helps them to do well, so I usually do better when I have their help. I've had a coach for more than 3 years, and my money has grown from $500k to about $1.8m now.
@@beelonia6026 That's quite a goal! Could you please tell me the name of your coach...? Coaching, as far as I understand it, is investing in a personal trading account with the assistance of a licenced advisor rather than transferring money blindly. Could you please explain what you mean?
@@marcelldesiato6663 Absolutely, Catherine Morrison Evans is my portfolio coach, and my trading account basically mirrors that of hers, it's quite transparent and automated, so I don't have to be active during trades. You can vet her if you like
It's always inspiring to hear from people who have achieved debt freedom and are on the path to building wealth. I appreciate your honest advice about real estate, and the pros and cons of duplexes. It's important to set emotional and relational boundaries with renters if you choose to go that route. Your story about going broke in your 20s is a reminder that real estate investing can be risky, especially if you're not careful with borrowing money. Thanks for sharing your wisdom and expertise!
I always recommend duplexes as the first home. Your basically living rent free thanks to the other tennant. Save all of your would be rent and go purchase another one and move there. rent out the first one. repeat
When I was in the military, I bought a house in every base I PCSed and prior to leaving I refinance the current house in order to rent it out and buy another one in the next base. I know Dave would frown upon this but I'm in a better place now because of it.
@@travismcdonald148 I specifically rent to servicemembers due to being able to reach out to their leadership if they don't pay. But so far there are no problems due to guaranteed BAH.
@@JBGOTGAME If your unit allows you to get your own housing due to being married or reach a certain rank, you can use the VA loan to buy a home zero down.
One bad renter can DESTROY your equity in a 4-plex. Months of no rent, tearing out walls, ripping our wire and if it's metal they take the plumbing. The repairs can cost as much as you paid for the building. I'll never do rentals again.
Lol, if your renters are taking the plumbing, you bought the wrong house...... I love how the real estate fear mongers always pull out the most ridiculous examples of things to worry about.
@@soxfan5240 rented to a member of US military... Who shortly after got dishonorably discharged. A year of court battles to evict. His dogs (no pets allowed building) ate the bottoms off the doors.
The higher the risk, the higher the profit. Maybe you might consider owning a property in a more regulated city like Dubai. Tenants are liable to make all repairs before leaving in case the cost of damage is higher than the security deposit. Here it's a lot easier compared to the US.
I don’t think I’ve ever had such a love hate viewpoint on anyone like I do with Dave Ramsey. He’s so arrogant and sees the world in only one way and everyone else is stupid. I love him because he does do a good job of teaching people risk and safe ways to build income. I really wish he would help people create a better way to get that first house paid for though. Honestly I’m not sure I know the answer. I’ve heard him say house hacking is stupid but I find that as a a good way to get your first house paid for. With no living expenses like rent, you can pay off that house very fast and if the tenant doesn’t pay well just pay the mortgage like a regular house or rental for a few months. It’s not the end of the world and seems very safe. Once that house is paid for you will really cash flow and can save up for the next house cash even faster. Things like that are a safe way to get into a paid off lifestyle with very little risk. Those that do it Dave’s way, I salute you. It’s painfully slow and I know for a fact I couldn’t do it. I did not do it Dave’s way. I have a $310k house paid off, I have my primary house at about 50% equity and another rental that’s only got about $40k left and a very very low payment because I put about half down on it. I also have another house I bought with my own cash that’s going to be a flip and will use the profit from that flip to pay off the $40k rental balance. There’s safe way to get into real estate. It’s taken me about 10 years to do what I’ve done so far on a $45k a year full time income from my main job that I still work today.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
LOL Yes it’s unusual. I currently rent a 400 sqft studio in Fords, NJ for $900/mo which includes all utilities, cable, and internet. It used to be a 2 car garage that the landlord converted.
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Forget real estate as an investment. High expenses, high maintenance, no tax advantages, not liquid. Buy stocks and/or funds all day long instead, you know what it's worth every day and can sell it every day
If only the stacking money part was true. Paid off my first place three years ago and have spent every bit of profit fixing things since then. I thought that the turnaround would be sooner. At this rate it may take longer to pay off my second home than the first one 🙃
exactly. Its all in the details. Dave's advise assumes you will only ever save all the cash flow you receive, at the same rate every single month. What happens when you have a huge repairs that takes off two months rate?
Why do most Ramsey videos have all these cookie-cutter comments and replies? The weirdest thing is these guys don't quote each other perfectly. There's always just a word or two off... And there's always someone advertising a particular financial advisor in the replies.
“Stacking money” with income on a rental that you own seems like a reach. That income is practically cut in half by property taxes, insurance and maintenance. How does that amount get me to a place where I can save to buy another property for cash?
Due diligence before you buy is absolutely critical. The property must have a sustainable market, such as employers who need your property for their employees. You property must also be in a prime location, not just a good location... it must be the very best location you can achieve Your property cannot be a maintenance money pit. You must scrutinize all the physical aspects and subtract any costs to repair from your expected cash flow. You must rent at the highest rent possible that keeps you competitive with comparable properties. To be competitive, you must keep a high degree of presentation, demand high qualification standards, and be highly responsive to all queries. I own 2 townhouses and earn 1,700 and 1,800 each per.month. I rent to engineers and IT professionals, both short and long term. I do as much of my own maintenance and repair as possible. I have an LLC and write off as many business costs as possible.
IVE ALWAYS THOUGHT THIS ABOUT DUPLEXES ICK !!!! COMPARED TO HOUSES !!!! I THINK THERES ABOUT 75% LESS BUYERS FOR COMMERCIAL REAL ESATTE VS. SINGLE FAMILY HOMES.
And to extrapolate on a point I made above. A lot of these flippers on tick tock are making it sound very very easy to do this. It's definitely not. You can go landlord and flipping homes is not just something you can watch free videos on and then start doing. A few small mistakes could cost you a lot of money
Cardone if your okay with Risk and want to be wealthily… Dave if your financially illiterate and just hope to retire with the bare minimum.. Side not : Grants is worth 4.5 billion Dave : 300 million ….
If your a entrepreneur Ramsey is not the guy to talk to. He sounds like my grandma when I tell her I don’t want to work 40hr a week for 50 years just to have a pension when I’m 80. If your a entrepreneur your going to have to take risk. Your going to have to take on debt, the way he talks down on debt is kinda funny.
I like Dave, but I've watched other UA-camrs that swear that using leverage is the way to go when buying rental property. They can make the numbers look awfully appealing. I've thought about splitting the difference by putting 50% down on some rental property but that might be even more idiotic.
Not more idiotic at all. Learn how to project the cash flow and only leverage to your level of comfort. 50% LTV gives you a lot of margin to weather a lot of storms … but still the most important thing is to make sure you’re buying strong cash flowing properties from the start.
That's not completely okay...Though I don't disagree with Dave but I think it's best to buy a property with 20% down payment. And income from your tenant will pay the debt. After a few years, the debt is paid and you have a property that you only paid 20% for. At least that's how it works here in Dubai
If its your primary residence it is not ridiculous. At least youll know as long as you pay the taxes, youll always have a place to lay your head with no worries and no bank hanging over your head. Everything else you can gamble with if you want.
Some debts are good, especially the debts can bring the positive cash flow, such as real estate investment. Debt-free is good for most of the people, but not necessarily good for investment. Buying real estate investment with cash definitely is not a good option. This will cause the shortage of cash at hand. This applies to the company operation: debt-free means this company is not good at taking advantage of the cash.
Me and my fiance income in a year should be around 350-400k pre-tax. I love real-estate investment and it's something I ghat my eyes on. Any investment advice pls?
Though I don't disagree with Dave but I think it's best to buy a property with 20% down payment. And income from your tenant will pay debt. After a few years, the debt is paid and you have a property that you only paid 20% for. At least that's how it works here in Dubai.
The best investment one can do right now is investing on real estate though stocks are good but ever since I swapped to real estate, I've seen so much difference.
Investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?
Great video, I have always wanted to invest and start my retirement plans early enough, but I never did. I hope it is not too late for me? I will like good advice on how I can start up my retirement and put up some investments as well. This world in getting more difficult to live in everyday. One needs to prepare for the future and kids inheritance.
I total agree, get the assistance of an expert and save yourself the troubles that comes with investing or trading. As for me, I am very busy with work, I do not have time to monitor my investment, but I still make so much profit every time. That is because I have someone doing all the work on my behalf.
Tenley Megan Amerson, is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
So a year ago today btc was worth around 15k-20k. Today btc is worth over 60k and we haven’t even reached the halving yet. Speculations see btc hitting 100k-150k and that’s on the conservative side. By comparison an average home in my neighborhood has seen a declineI this past year. I hope to god she didn’t listen to these out of touch boomers and sold. If you haven’t already figured it out these dinosaurs want to pawn their depreciating assets on you. Don’t be a sucker, your time will come.
Max Kaiser is up 20 billion percent since 2011. Let that sink in. How’s real estate treating you all with the added costs and pain that is not present with Bitcoin?
If she kept her btc she’d be looking really good right now. We haven’t even had the halving yet. Her 10k could easily be 100k in the coming months(if not already). I hope to god they didn’t take his advice.
8 місяців тому
The strategy that led him to bankruptcy is called over-leveraging. No wise investor who thinks long term would do that.
Any of y'all in Canada here? An 1500 sqft bungalow outside of the city goes for close to a million dollars CAD. It's impossible to save for a house cash up here unless you wait a very long time.
So Ramsey expects a normal American household to wait possibly decades to pay off a primary residence in cash before they save and pay in full another rental property in cash? This dude is out of touch on so many levels
The way he says “don’t borrow money just buy a house in cash” as if the average person has house money sitting in the bank lol. They’d be lucky if they even have the 20% down payment.
Once your house is paid off you can save up more quickly, but the only way I could imagine this happening is if you cash out some savings to help buy it? An investment transfer? In general if feels like the baby steps are not hip on leveraged investing, more on stocks and slow and steady growth...which is fine, just takes a bit longer.
By the time you're 90 you should have enough investment properties to live on. I get the feeling that if he didn't keep singing the praises of mutual funds, he might have some issues with some big companies gunning against him.
An ex-colleague convinced me into stock trading and investment as a means of making more income maybe because of the few commissions she earns bringing people. Sad i fell, My portfolio have been down ever since. Next time, i will first spend my money on myself before investing.
It would be hard to believe if he did this in a few years. Gradually building it over 35 years - it's believable. The net worth is not linear, it's exponential.
He’s actually ruining people’s future by telling them to sell 10k in “high risk investments” or “LoTeRy MonEy” that 10k is something that could of been life changing. Hopefully she didn’t listen and still owns it because that 10k would be now work 50-60k in just 2 years. Like come on I’m conservative but being naive on something and telling people who have only 5-10% of there money in a “risky investment” is just sad and terrible advice.
It's got risk though... like everything else. Returns like that are great, but how big is the risk to get it? Cause if you're making that much, then you know the owners are doing better.
@@ibealion1 based on tax laws, REITS have to by law pay out a certain amount. To qualify as a REIT, a company must have the bulk of its assets and income connected to real estate investment and must distribute at least 90% of its taxable income to shareholders annually in the form of dividends. So you get most of the profit.
Yes. It's part of story. He talks about becoming a millionaire in his early 20s, losing it all, and then gaining it back in a few years using the principles he teaches now.
Typical. What if the tenants don't pay their rent. There are risks in everything you do. You may get in a car accident tomorrow. Would you stop driving because YOU MAY get in an accident?
No, but we take reasonable measures to minimize the risks involved (e.g. wearing a seatbelt, obeying traffic laws, having car insurance, etc.). Same goes for real estate investing, there is a smart way to do it and an unsmart way to do it that involves an unnecessary amount of risk.
@@TheMechanicj remote workers work more than in house workers. Period. In house gets away with assumption that they are working. Remote workers work so much because they don’t know if they are doing enough or not.
Here is what he fails to tell you about his loans being called. It is VERY RARE now, and the majority of loans are not callable. You have to be behind on payments for the acceleration clause to take effect - read your loan documents!
I see how this system helps those that have no clue how to handle the simplest monetary transactions, but man had Dave become such a cranky fanatic or what.
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The detail he never mentions is that he was WAY OVER LEVERAGED because he worked out a deal with a regional bank to give him WAY MORE LOANS than he qualified for. So when the bank was bought out and component people looked at how much he was floating they called his notes BECAUSE HE SHOULDN’T HAVE HAD THEM in the first place. That’s why he has all these crazy anti-debt ideas Lmao! It’s a cope because he can’t own the fact that he was being irresponsible and doing sketchy deals. It must be because the concept of debt is bad 🙄
Ya I don’t like that advice either. Talking about how he was over leveraged and went broke but then says spend your money all into real estate and sell your 10% network of bitcoin “BecUaseIt MiGhT Go DoWN 50%” news flash it’s volatile and if you don’t sell then your fine over the long term. Bitcoin is going to a million it’s not if it’s when so for the love of god stop telling these poor people who just need a break to sell when they are in at 10% of there already low net worth. 10k isn’t going to hurt you if it goes down to 5k but it will hurt when you sell and it goes up to a 50x and you could of had 500k. Life’s about taking risks and if your telling these low income folks to never take a risk If done right I think it’s foolish
You do not need cash. Take out a mortgage. If Dave took out a mortgage, who wouldn't have went bankrupt. Go and call the money guys for investing in real estate. Not Dave.
Dave, I love you I really really do but bitcoin is out of this world compared to what it started from. Had I invested when I should have I would have as much money as you do right now sink your teeth into that big boy.
@@anthonykence9954 Unless you bought them as owner occupied and then moved out, I can promise you don't have any 30 year fixed notes initiated on non-owner occupied properties.
@@anthonykence9954 Then why didn't you pay them off? 25 years ago fixed rates were 8+%. I have two investment loans, they are amortized 25 years, but balloon every 36 months. fixed rate long term loans on owner occupied are not commonly offered, if you were really an investor using financing, you would know this, so I am skeptical of your remarks. I suppose anything is possible, but I pretty much think everything anyone says on the internet is 50% true at best.
I'm 48years old living in California, I'm hoping to retire at 50 if things keep going well for me. Bought my third house last month and I can't be more proud that am i now. I'm glad I made great decision about my finances that changed me forever but now I can't seem to make any other smart investment.
I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@@devereauxjnr Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.
@@viewfromthehighchairr That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.
@@AlbertGReene-p8w My advisor is the quite famous NICOLE DESIREE SIMON She has been making a fortune online worth millions of dollars in digital assets for a select few for years. Lately, these types of services have appeared that allow you to copy the results of the experts. She demonstrates how to copy it automatically using that system.
The biggest thing I learned from this video was 50% of investing is buying good companies at good prices and the other 50% is controlling your emotions when . market is moody.I realized that the secret to making a million is making better investment. I always tell myself you don't need that new car or that vacation just yet and that mindset helps me make more money investing.
@user-xp6sc6su9c did you find an advisor?
This is a fair call by Dave. He explains “this is what we tell people to do, here’s why, if you want to do something else, look for more input elsewhere.” I don’t agree with his system necessarily, but it’s his system and that’s honest counsel.
Except when he turns around and says people leveraging real estate will lose it all. There still needs to be a discussion about pros and cons
That's what he says when he can't give a logical answer because it goes against his core principle.
@@abrahamflores2566 he explicitly says he doesn’t do pros and cons, he does his way or the highway. It’s dumb, but at least when he says it this way he’s honest, sometimes he just calls people irresponsible if they don’t follow him
@@adamseidel9780 honestly I love Dave so that's why I want him to evolve and continue success but eventually the population will catch up on financial education and his successors will not have the same success Dave did
@@abrahamflores2566 his advice isn’t for people with the ability to make sophisticated real estate decisions, it’s for people who need to stop buying a new truck and RV every three years
I used to believe that all investors suffer during inflation, but I learned that some investors can actually make millions of dollars. I used to think that everyone stopped working during the Great Depression, but some people started new businesses. Some people feel sad while others make money. It all depends on how you think. I have saved $250,000 to use for investments in the future, but I don't know much about investing.
I had a bad year with my investments. I lost 40k with META, 35k with ALLP, 6k with Draft Kings, 15k with NIO, and 8k with ABML. Unfortunately, my wife doesn't know about these losses. I'm listening to Jim Cramer's advice on how to manage my money during uncertain times. I may either hold onto my investments until things get better, or choose new ones that can make me money.
The market is very crazy right now! No matter if you're new or experienced in trading, sometimes you need someone to help you succeed.
@@marcelldesiato6663 I like to have someone help me with my decisions when I buy and sell things in the marketplace. They are trained to make good choices in the short and long term and also to protect me from losing too much money. They have special information and analysis that helps them to do well, so I usually do better when I have their help. I've had a coach for more than 3 years, and my money has grown from $500k to about $1.8m now.
@@beelonia6026 That's quite a goal! Could you please tell me the name of your coach...? Coaching, as far as I understand it, is investing in a personal trading account with the assistance of a licenced advisor rather than transferring money blindly. Could you please explain what you mean?
@@marcelldesiato6663 Absolutely, Catherine Morrison Evans is my portfolio coach, and my trading account basically mirrors that of hers, it's quite transparent and automated, so I don't have to be active during trades. You can vet her if you like
It's always inspiring to hear from people who have achieved debt freedom and are on the path to building wealth. I appreciate your honest advice about real estate, and the pros and cons of duplexes. It's important to set emotional and relational boundaries with renters if you choose to go that route. Your story about going broke in your 20s is a reminder that real estate investing can be risky, especially if you're not careful with borrowing money. Thanks for sharing your wisdom and expertise!
I love the preface and disclaimer of his history in the market, explaining the great risk that most folks will overlook in real estate.
I always recommend duplexes as the first home. Your basically living rent free thanks to the other tennant. Save all of your would be rent and go purchase another one and move there. rent out the first one. repeat
Start off small and then trade up into bigger properties. Buy, hold and wait for appreciation.
No such thing as “zero payments” even if the house’s paid off! You still have insurance,taxes,maintenance,water,etc…
Those are still significantly less than paying a monthly mortgage
And townhouse and condo just the HOA and tax can be a lot these days they talk so much chit no payments my arse
Zero in comparison.
When I was in the military, I bought a house in every base I PCSed and prior to leaving I refinance the current house in order to rent it out and buy another one in the next base. I know Dave would frown upon this but I'm in a better place now because of it.
The queen of realestate in NC did the same thing. Im a veteran and I do believe in pay off first home though.
Not a bad idea in military towns. That Bah always makes sure there's renters
@@Llama_vet yeah I'm hunkering down and pay off my properties first.
@@travismcdonald148 I specifically rent to servicemembers due to being able to reach out to their leadership if they don't pay. But so far there are no problems due to guaranteed BAH.
@@JBGOTGAME If your unit allows you to get your own housing due to being married or reach a certain rank, you can use the VA loan to buy a home zero down.
One bad renter can DESTROY your equity in a 4-plex.
Months of no rent, tearing out walls, ripping our wire and if it's metal they take the plumbing. The repairs can cost as much as you paid for the building.
I'll never do rentals again.
Nah sounds like you were a terrible landlord lol. It’s not that difficult
Lol, if your renters are taking the plumbing, you bought the wrong house...... I love how the real estate fear mongers always pull out the most ridiculous examples of things to worry about.
@@soxfan5240 rented to a member of US military... Who shortly after got dishonorably discharged.
A year of court battles to evict.
His dogs (no pets allowed building) ate the bottoms off the doors.
The higher the risk, the higher the profit. Maybe you might consider owning a property in a more regulated city like Dubai. Tenants are liable to make all repairs before leaving in case the cost of damage is higher than the security deposit. Here it's a lot easier compared to the US.
@@ImDahDude 😭😭😭😭😭😭😭
I don’t think I’ve ever had such a love hate viewpoint on anyone like I do with Dave Ramsey. He’s so arrogant and sees the world in only one way and everyone else is stupid.
I love him because he does do a good job of teaching people risk and safe ways to build income.
I really wish he would help people create a better way to get that first house paid for though. Honestly I’m not sure I know the answer. I’ve heard him say house hacking is stupid but I find that as a a good way to get your first house paid for. With no living expenses like rent, you can pay off that house very fast and if the tenant doesn’t pay well just pay the mortgage like a regular house or rental for a few months. It’s not the end of the world and seems very safe. Once that house is paid for you will really cash flow and can save up for the next house cash even faster.
Things like that are a safe way to get into a paid off lifestyle with very little risk.
Those that do it Dave’s way, I salute you. It’s painfully slow and I know for a fact I couldn’t do it. I did not do it Dave’s way. I have a $310k house paid off, I have my primary house at about 50% equity and another rental that’s only got about $40k left and a very very low payment because I put about half down on it. I also have another house I bought with my own cash that’s going to be a flip and will use the profit from that flip to pay off the $40k rental balance. There’s safe way to get into real estate. It’s taken me about 10 years to do what I’ve done so far on a $45k a year full time income from my main job that I still work today.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks
@@Lourd-Bab However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.
@EthanCarter-n2y Oh I would love that. thank you.
@@Lourd-Bab SUZANNE GLADYS XANDER.
Lookup with her name on the webpage.
Thankyou for Sharing
Rent and utilities for both of them are $850-$900?? That's insanely good. We need some more info on that.
That's normal where I live and other places I've been to for a one bedroom.
LOL Yes it’s unusual. I currently rent a 400 sqft studio in Fords, NJ for $900/mo which includes all utilities, cable, and internet. It used to be a 2 car garage that the landlord converted.
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In Oregon rent for a single bedroom home can be almost 1100-1200 depending on the area absolutely ridiculous
My utilities are $300 a month...
You Are Not The Only One With This Owesome Idea. Looooool.
dave dropping knowledge like it's hot. great video.
The way Dave got successful with real estate is not the way he tells other people to. No one saves enough money to buy their first deal cash.
Absolutly right.
People do save/invest and buy with cash.
Why not? It's certainly possible... if I quit going to restaurants, I could save up enough to buy a house in a few years.
@@ibealion1
Guys I worked with were spending $100 a week easy leaving the base for lunch.
@@ibealion1 he is talking about cash as in paying for the whole thing cash. Your little anology would be a down payment with pmi
Great video, I’d love to get into this🔥
What is the average ROI when you buy a rental cash?
Depends on a ton of factors. The type of home, location, volume of renters
Friends if you can find a "distressed" property with equity in it...
@@yoyoyojoe619 its around zero. Almost every time.
It's low compared to mortgage buyers.
Forget real estate as an investment. High expenses, high maintenance, no tax advantages, not liquid. Buy stocks and/or funds all day long instead, you know what it's worth every day and can sell it every day
What Dave doesn’t say is when all those banks called those notes, it’s because they were 90 day notes….
How do you know?
Both garages together in the middle essentially means 2 seperate homes
If only the stacking money part was true. Paid off my first place three years ago and have spent every bit of profit fixing things since then. I thought that the turnaround would be sooner. At this rate it may take longer to pay off my second home than the first one 🙃
exactly. Its all in the details. Dave's advise assumes you will only ever save all the cash flow you receive, at the same rate every single month. What happens when you have a huge repairs that takes off two months rate?
What Dave never mentions is his huge shovel… his company.
Which wasn't making a dime until he had bought multiple units with cash.
Ramsey Solutions didn't turn a profit for 5 years
Moral of the story, take chances and risk in your 20s. You’ll still have time to recover and become an old fart/ multi millionaire
What about cash for condo hotel room having a small positive cash flow,?
Why do most Ramsey videos have all these cookie-cutter comments and replies? The weirdest thing is these guys don't quote each other perfectly. There's always just a word or two off... And there's always someone advertising a particular financial advisor in the replies.
“Stacking money” with income on a rental that you own seems like a reach. That income is practically cut in half by property taxes, insurance and maintenance. How does that amount get me to a place where I can save to buy another property for cash?
Due diligence before you buy is absolutely critical.
The property must have a sustainable market, such as employers who need your property for their employees.
You property must also be in a prime location, not just a good location... it must be the very best location you can achieve
Your property cannot be a maintenance money pit. You must scrutinize all the physical aspects and subtract any costs to repair from your expected cash flow.
You must rent at the highest rent possible that keeps you competitive with comparable properties. To be competitive, you must keep a high degree of presentation, demand high qualification standards, and be highly responsive to all queries.
I own 2 townhouses and earn 1,700 and 1,800 each per.month. I rent to engineers and IT professionals, both short and long term.
I do as much of my own maintenance and repair as possible.
I have an LLC and write off as many business costs as possible.
IVE ALWAYS THOUGHT THIS ABOUT DUPLEXES ICK !!!! COMPARED TO HOUSES !!!! I THINK THERES ABOUT 75% LESS BUYERS FOR COMMERCIAL REAL ESATTE VS. SINGLE FAMILY HOMES.
How did he get the cash to pay the second one quickly ?
Dave Loves his 'ZERO', his '0' is our key to financial freedom!
Stacking money, Stacking money 💯💯🤣
Dave says to buy it all cash and he still got rich. Cardone says exactly the opposite to finance and he still got rich. Who do we follow ?
And to extrapolate on a point I made above. A lot of these flippers on tick tock are making it sound very very easy to do this. It's definitely not. You can go landlord and flipping homes is not just something you can watch free videos on and then start doing.
A few small mistakes could cost you a lot of money
All of them started buying cash
Cardone if your okay with Risk and want to be wealthily… Dave if your financially illiterate and just hope to retire with the bare minimum..
Side not : Grants is worth 4.5 billion
Dave : 300 million ….
You know yourself better than anyone. Things like your situation with your finances, debt,wife,kids,health,etc...
Do whatever works for you.
@@Anonyme67 p
If your a entrepreneur Ramsey is not the guy to talk to. He sounds like my grandma when I tell her I don’t want to work 40hr a week for 50 years just to have a pension when I’m 80. If your a entrepreneur your going to have to take risk. Your going to have to take on debt, the way he talks down on debt is kinda funny.
Where the heck are you getting all of this cash?
I like Dave, but I've watched other UA-camrs that swear that using leverage is the way to go when buying rental property. They can make the numbers look awfully appealing.
I've thought about splitting the difference by putting 50% down on some rental property but that might be even more idiotic.
Not more idiotic at all. Learn how to project the cash flow and only leverage to your level of comfort. 50% LTV gives you a lot of margin to weather a lot of storms … but still the most important thing is to make sure you’re buying strong cash flowing properties from the start.
It’s not dumb, it’s what I did. 50% down on all of the properties I buy. It’s been working great.
That's not completely okay...Though I don't disagree with Dave but I think it's best to buy a property with 20% down payment. And income from your tenant will pay the debt. After a few years, the debt is paid and you have a property that you only paid 20% for. At least that's how it works here in Dubai
I’m so but buying rest estate cash is the most ridiculous thing I’ve ever heard…
Many buying with cash in 2008.
You got the home you want quickly back then.
If its your primary residence it is not ridiculous. At least youll know as long as you pay the taxes, youll always have a place to lay your head with no worries and no bank hanging over your head. Everything else you can gamble with if you want.
Some debts are good, especially the debts can bring the positive cash flow, such as real estate investment. Debt-free is good for most of the people, but not necessarily good for investment. Buying real estate investment with cash definitely is not a good option. This will cause the shortage of cash at hand. This applies to the company operation: debt-free means this company is not good at taking advantage of the cash.
Me and my fiance income in a year should be around 350-400k pre-tax. I love real-estate investment and it's something I ghat my eyes on. Any investment advice pls?
Though I don't disagree with Dave but I think it's best to buy a property with 20% down payment. And income from your tenant will pay debt. After a few years, the debt is paid and you have a property that you only paid 20% for. At least that's how it works here in Dubai.
RE is too much work. Collecting dividends is much easier.
The best investment one can do right now is investing on real estate though stocks are good but ever since I swapped to real estate, I've seen so much difference.
I have been making a lot profit through real estate which has been the main source of my income.
Investing requires good experience and knowledge to carry out a good and successful trade, I have lost a lot trying to trade all by myself May I ask which investments are good?
STEPHINE KOPP MEEKS is who i work with look her
2:41 Dave would probably have hair if he didn’t go broke.
Great video, I have always wanted to invest and start my retirement plans early enough, but I never did. I hope it is not too late for me? I will like good advice on how I can start up my retirement and put up some investments as well. This world in getting more difficult to live in everyday. One needs to prepare for the future and kids inheritance.
I total agree, get the assistance of an expert and save yourself the troubles that comes with investing or trading. As for me, I am very busy with work, I do not have time to monitor my investment, but I still make so much profit every time. That is because I have someone doing all the work on my behalf.
I've been looking to get one, but have been kind of relaxed about it. Could you recommend your advis0r? I'll be happy to use some help.
Tenley Megan Amerson, is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Sorry, Chip was born in 1974 and Joanna was born in 1978.
So a year ago today btc was worth around 15k-20k. Today btc is worth over 60k and we haven’t even reached the halving yet. Speculations see btc hitting 100k-150k and that’s on the conservative side. By comparison an average home in my neighborhood has seen a declineI this past year. I hope to god she didn’t listen to these out of touch boomers and sold. If you haven’t already figured it out these dinosaurs want to pawn their depreciating assets on you. Don’t be a sucker, your time will come.
I will add to your he renter cost stories $10,000+ repair cost
Max Kaiser is up 20 billion percent since 2011. Let that sink in.
How’s real estate treating you all with the added costs and pain that is not present with Bitcoin?
If she kept her btc she’d be looking really good right now. We haven’t even had the halving yet. Her 10k could easily be 100k in the coming months(if not already). I hope to god they didn’t take his advice.
The strategy that led him to bankruptcy is called over-leveraging. No wise investor who thinks long term would do that.
Any of y'all in Canada here? An 1500 sqft bungalow outside of the city goes for close to a million dollars CAD. It's impossible to save for a house cash up here unless you wait a very long time.
With all due respect for you sir , but paying cash for the rental unit is not a smart advice sir.
Totally agreed
So Ramsey expects a normal American household to wait possibly decades to pay off a primary residence in cash before they save and pay in full another rental property in cash? This dude is out of touch on so many levels
Yeah that’s a little ridiculous.
The way he says “don’t borrow money just buy a house in cash” as if the average person has house money sitting in the bank lol. They’d be lucky if they even have the 20% down payment.
Once your house is paid off you can save up more quickly, but the only way I could imagine this happening is if you cash out some savings to help buy it? An investment transfer? In general if feels like the baby steps are not hip on leveraged investing, more on stocks and slow and steady growth...which is fine, just takes a bit longer.
No. He’s not expecting you to do that. He’s telling you what he would do. Did you not hear him start the answer with that?
By the time you're 90 you should have enough investment properties to live on. I get the feeling that if he didn't keep singing the praises of mutual funds, he might have some issues with some big companies gunning against him.
Completely not important, but Pittsburgh has an H at the end. Speaking as someone from there Lol
It's ok rep your city. Lol
@@ebonylo. 😂😂😂
Stacking money you have to pay taxes on it stacked
A few ways to avoid high taxes: put into Roth...use an LLC
Dave never mention how much cash his company brings in every year, his company brings in around 200 million a year in revenue.
Wow madness
An ex-colleague convinced me into stock trading and investment as a means of making more income maybe because of the few commissions she earns bringing people. Sad i fell, My portfolio have been down ever since. Next time, i will first spend my money on myself before investing.
IM TOO FRUGAL NOT TO PAY ALL CA$H FOR A RENTAL HOUSE BECAUSE I HATE ALL OF THE CLOSING COSTS !!!! LOL !!!!
Making money in real estate is so easy, just buy real estate!
And become a realtor, it’s easy!
I wonder what Dave was doing to be able to buy a house IN CASH so quickly.. 🤔
How do you own several hundred million of dollars in real estate without having debt? Hmmm....hard to believe
It would be hard to believe if he did this in a few years. Gradually building it over 35 years - it's believable. The net worth is not linear, it's exponential.
Bitcoin at 60,000 k today ramsey 😬
Great house advice tho..
Bitcoins at 105,000 k today Ramsey😬
He’s actually ruining people’s future by telling them to sell 10k in “high risk investments” or “LoTeRy MonEy” that 10k is something that could of been life changing. Hopefully she didn’t listen and still owns it because that 10k would be now work 50-60k in just 2 years. Like come on I’m conservative but being naive on something and telling people who have only 5-10% of there money in a “risky investment” is just sad and terrible advice.
You are guaranteed to lose money on the US dollar. 3-5% loss is built in.
“Shhhtacking money!” 😂
Dave don’t lbs a fool, tell people how you acquired that money for the houses. You capitalized off people’s ignorance
Lol flip this before Chip and Diana were born
so the answer is... don't get into real estate investing?
STACKIN MONEY
FundRise is the best way to get into Real Estate investment. My average returns since 2018 is 19.5%
I just started a little over a year ago. I’m over 20%! I doubt it will stay that way, but it’s most likely that high because of the times.
It's got risk though... like everything else. Returns like that are great, but how big is the risk to get it? Cause if you're making that much, then you know the owners are doing better.
@@ibealion1 It hasn't been risky for me...
@@user-wq5ws1qs7x how is it taxed?
@@ibealion1 based on tax laws, REITS have to by law pay out a certain amount. To qualify as a REIT, a company must have the bulk of its assets and income connected to real estate investment and must distribute at least 90% of its taxable income to shareholders annually in the form of dividends. So you get most of the profit.
You can tell he’s over George…I am also
😂
So did Dave Ramsey go broke?
Yes. It's part of story. He talks about becoming a millionaire in his early 20s, losing it all, and then gaining it back in a few years using the principles he teaches now.
Yes he went broke using the most dangerous tools in real estate, hard money loans. Completely different from normal mortgages
@@abrahamflores2566 he was using 90 day hard money loans which is insane lol. Today most hard money loans are 12mo
I hope she didn't listen to selling the cyrpto part
You saved meeee
pay cash for an investment property lol. yea cuz we all make 250k a year to pay all cash
Typical. What if the tenants don't pay their rent.
There are risks in everything you do.
You may get in a car accident tomorrow. Would you stop driving because YOU MAY get in an accident?
No, but we take reasonable measures to minimize the risks involved (e.g. wearing a seatbelt, obeying traffic laws, having car insurance, etc.). Same goes for real estate investing, there is a smart way to do it and an unsmart way to do it that involves an unnecessary amount of risk.
Thank you!
@@MichaelAnderson-wk1no If Dave was against risk he would agree with remote work
@@tonysoprano6265 there is a risk that you will have to work and be productive again there is that
@@TheMechanicj remote workers work more than in house workers. Period. In house gets away with assumption that they are working.
Remote workers work so much because they don’t know if they are doing enough or not.
Here is what he fails to tell you about his loans being called. It is VERY RARE now, and the majority of loans are not callable. You have to be behind on payments for the acceleration clause to take effect - read your loan documents!
SRB
not. a lot going on today /.../but I hope so / ... //
I see how this system helps those that have no clue how to handle the simplest monetary transactions, but man had Dave become such a cranky fanatic or what.
📞📞
Get well soon Dave. Lots of vitamin c and d remember.
*Thank you for your comment❤️. Learn how to start a proper investment and possible ways to grow your finances. Please direct your question to our details above on Whtapp*
The detail he never mentions is that he was WAY OVER LEVERAGED because he worked out a deal with a regional bank to give him WAY MORE LOANS than he qualified for. So when the bank was bought out and component people looked at how much he was floating they called his notes BECAUSE HE SHOULDN’T HAVE HAD THEM in the first place.
That’s why he has all these crazy anti-debt ideas Lmao! It’s a cope because he can’t own the fact that he was being irresponsible and doing sketchy deals. It must be because the concept of debt is bad 🙄
Ya I don’t like that advice either. Talking about how he was over leveraged and went broke but then says spend your money all into real estate and sell your 10% network of bitcoin “BecUaseIt MiGhT Go DoWN 50%” news flash it’s volatile and if you don’t sell then your fine over the long term. Bitcoin is going to a million it’s not if it’s when so for the love of god stop telling these poor people who just need a break to sell when they are in at 10% of there already low net worth. 10k isn’t going to hurt you if it goes down to 5k but it will hurt when you sell and it goes up to a 50x and you could of had 500k. Life’s about taking risks and if your telling these low income folks to never take a risk If done right I think it’s foolish
You do not need cash. Take out a mortgage. If Dave took out a mortgage, who wouldn't have went bankrupt.
Go and call the money guys for investing in real estate. Not Dave.
Mortgages lead to foreclosures. Paying cash for real estate is the best option if possible
@@DaveSmith-kb5nk paying cash leads to lower rate of return. Mortgages on rental property is the best possible option.
I once met a real estate investor in my first Financial Peace University class. I was stunned when they told me "they took on too much"...
@@jedispice8040 they were over levereged, That's their fault. I own levereged real estate and I take precautions to minimize risk
@@dopeskaterat95 you should read my comment again
get out while you can
Worst answer ever
Dave, I love you I really really do but bitcoin is out of this world compared to what it started from. Had I invested when I should have I would have as much money as you do right now sink your teeth into that big boy.
This dude does not know how to leverage debt
Can you say arogant
He was buying on 90 day notes which is stupid. 30 year fixed notes notes no bankruptcy for Dave Ramsey
Good luck getting a 30 year FIXED note on an investment property.
@@TheSmoothGrind I have plenty of 30 yr notes on investment properties.
@@anthonykence9954 Unless you bought them as owner occupied and then moved out, I can promise you don't have any 30 year fixed notes initiated on non-owner occupied properties.
@@TheSmoothGrind yes I do I bought 25 yrs ago
@@anthonykence9954 Then why didn't you pay them off? 25 years ago fixed rates were 8+%. I have two investment loans, they are amortized 25 years, but balloon every 36 months. fixed rate long term loans on owner occupied are not commonly offered, if you were really an investor using financing, you would know this, so I am skeptical of your remarks. I suppose anything is possible, but I pretty much think everything anyone says on the internet is 50% true at best.
Dave has no clue...what hes talking bou
I'm 48years old living in California, I'm hoping to retire at 50 if things keep going well for me. Bought my third house last month and I can't be more proud that am i now. I'm glad I made great decision about my finances that changed me forever but now I can't seem to make any other smart investment.
I can feel your pains. New guys need to realize the risks that come with all of this. You could lose it all and you could win it all. It goes both ways. Second, what works for A may not necessarily work for B and you should not be a bandwagon investor. A good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge.
@@devereauxjnr Factos!! Since the market became extremely volatile and pressure increased (I should be retiring in 17 months), I took the decision to work closely with a financial advisor. It has already been 9 months and counting, and I have made approximately 600K net from all of my holdings.
@@viewfromthehighchairr That's impressive, my portfolio have been tanking all year, tried learning new strategies to gain in the current market but all of that flew right over head, please would you mind recommending the Adviser you're using.
@@AlbertGReene-p8w My advisor is the quite famous NICOLE DESIREE SIMON She has been making a fortune online worth millions of dollars in digital assets for a select few for years. Lately, these types of services have appeared that allow you to copy the results of the experts. She demonstrates how to copy it automatically using that system.
@@viewfromthehighchairr Thanks for the info, i found her website and sent a message hopefully she replies soon.
It started cash flowing like a bandit 🧊🧊