I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
As a realtor in my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
I thoroughly recommend Margaret Johnson Arndt, an investment advisor who is subject to US SEC regulation. She has assisted me with my portfolio for many years. Look her up online; she's a well-known figure.
How do you factor in the fact that inventory is still at record lows which is keeping home prices from crashing even though mortgage rates continue to go up? It really comes down to basic supply and demand and right now supply is so low that prices will likely continue to remain stable. People have been saying there will be a crash for years now and here we still are
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2024. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
They are true professionals at the top of their game; I had the pleasure of dealing with one, and it turned out to be really helpful as they assisted me in restructuring my complete portfolio. Julie Anne Hoover, a well-known professional in her field who you may be familiar with, is none other than my advisor.
@@danieljackson87 I must add that Julie’s profile seems to be pretty knowledgeable, so I appreciate the tip. I completely read through her resume, educational history, and qualifications after finding her online, and I must admit, they were extremely remarkable. She responded to my message, and we have scheduled a session.
Yup. Most people forget that Dave Ramsey didn’t get rich initially with real estate. It was his company Ramsey solutions that made him rich. Then he used that money to buy real estate and get richer.
Investing in various sources of income that are independent of the government should be the most essential thing on everyone's mind right now. especially in light of the global economic crisis at the moment. I have $560,000 sitting in savings searching for the best method to enter these markets. This is still an excellent moment to invest in equities, gold, silver, and digital currencies.
Something I’ve learned from my first bear market: You don’t have to outperform, just survive. If you can survive and let your competitors blow up you’ll be the only one left and in a better position than before.
Building a good financial-portfolio is more complex so I would recommend you seek professional support. This way you can get strategies designed to address your unique long-term goals and financial dreams.
Working with a professional to develop a well-structured investing portfolio is a wonderful approach to get started. That's why I've been working on my dealings with “NICOLE DESIREE SIMON”.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform.
I’ve known 3 people who tried borrowing their way to wealth in real estate. They ALL lost their shirts & are now in completely different fields. Like Dave, 2 of them had to declare bankruptcy.
I know dozens of people who borrowed their way to wealth in real estate. They became multi millionaires by the time they were in mid forties (with all the loans paid off). Dave Ramsey preaches a safe and slow way to build wealth. That’s ONE way to do things. Doesn’t mean every other way is wrong. If people are wreckless (like they try to flip houses without doing proper research) doesn’t mean “borrowing money is bad. People need to learn to do it right way.
@@kshitiz06 My husband and I aren't in real estate, (although I almost got my license a few years ago) but we have bought properties twice, putting 10% down and borrowing the rest. We made over $100k profit on the sale of the first house and the property we have now has tripled the price since we bought it so we will make an even bigger profit when we sell. One can make money even when borrowing but you have to be very, very careful. I hope to be able to build a portfolio in the future.
Don't all the way agree. He should consider real estate if he understands the pitfalls and maps out how much he makes, property value, market outlook, etc. If he thinks he's gonna sit back and watch his money go up, he's mistaken. Also, there are other avenues to make money, like real estate investment. You have far less power, but fewer tenant headaches.
Dave would have absolutely no argument against 80% down on investment properties. No real chance of foreclosure, increased growth and very safe. So obviously financing is ok to some degree, he just a super high earner and can realistically safe 100% of the money needed. The average joe shouldn’t pay off property if the rate is good
Cause he's powerful.he believes every body it's stupid for not having money.he uses bible,Jesus God whatever to his advantage,he loves God but puts families in the streets for buying them renting crazy but he loves godddd yeahhhh.
Ugh please stop taking calls from these people, anyone making half a million doesn't need help from Dave and its frustrating to hear them act like their life is hard. They should be paying someone for individual advice
@@SRD1281 lmao my next worth is over 300k. I got here because of Dave's advice. I also recognize that I dont need to call him and ask why I can't live on 100k a year because it isn't that hard. 500k there really is no excuse.
@@ozzyarellano6509 I don’t know. Car dealers and real estate agents and people who own real estate don’t sound sophisticated, they can just be really really wealthy. And I’ve learned where I live they’re frustrated bc they have high class income but are not blue bloods. So they don’t fit in anywhere
This whole idea that millionaires don’t inherit their money for the most part is true but Dave is talking about people that have a one million dollars. What he’s misrepresenting is those “one millionaires” aren’t rich, but he groups them in with people with 20+ million like they’re the same. If you looked at people with $20+ million, a majority of that money would have come from inheritance.
@@joesmith3590 It's also a show designed to make poor people believe in something they can't feasibly achieve. When Dave or George are cornered in that respect, they always throw out a generic "just drive Uber, deliver food, go crazy". Those things aren't going to make you any real money and in a lot of cases, expenses exceed earnings. What Dave is doing is the same thing that Fox News and CNN does, which is attempting to normalize the crazy wealthy to the masses and convince them that with some hard work, you can make it too. In the background, they're cutting taxes on themselves and social programs for regular people so you'll never catch up.
You know i used to think the same but look at the statistics wealth doesnt inherit well by the time it reaches the 3rd generation the money is gone. I come fron the descendents of the spanish colonizers we had everything ranches houses, maids, money. My family was filthy rich in Mexico that money is gone to the point that we all immigrated. My family blends perfect with the mexican upper class except we dont have the cash its all gone. There is a spanish saying Grandpa (immigrant worker) Son (second generation Millionere) Grandson ( pordiosero) [ raggs poverty]. That is the history of all latin America we used to be filthy rich now its all gone and the grandsons that feel entitled are the ones voting for Left wings communist policies and all its doing is making latin America poorer
31 making half a mil sounds like most Americans. How do the call screeners dump the people losing their homes and can’t pay rent all the time for brag calls
@@adamseidel9780 I’m out of debt with my own business I’m good just would like to hear more about everyday Americans not rich people nepo babies that need to hire finance manager because they aren’t responsible enough making 500k a year.
I personally haven't read the study, but it is there; they did it a couple of years ago if I recall. As is a Ramsey study, very likely you are going to find majority of those millionaires be above of 50, which is honestly what would you expect
@@XXnickles It was a lot longer than a couple years ago. The study was the subject of Chris Hogan's book "Everyday Millionaires" and he's been gone from Ramsey for quite a few years now.
But when your renters stop paying rent and you have to evict, believe me, it's your problem and you will spend time and money. As well, when they damage your place, again, you will have to be involved. Plus, there is normal wear and tear over the years on rentals where you have to fork out money and you will be involved in that. So, no, this is not passive income.
I would just go heavy on index funds put 20k a month and by 45 you could easily retire a mult millionaire. Then if you are bored and want to deal more with Tennants buy some properties cash.
You have zero idea how easy being a landlord is. Most months involve doing absolutely nothing. Sometimes you have to call somebody, but that's about it.
That's illegal lmao. That's super fucking illegal on like multiple levels. Fair Housing Laws prohibit shit like this, and military status isn't a protected class.
Give me 1/4 of that and I won't have to ask for any advice. We gude! Live edit: anyone who says price point deserves to fail. The price is the price. Either you can afford it ir you can't.
Dave was going along, having a nice conversation with this guy, then realized he’s utilized some reasonably structured debt to build his portfolio and Dave had to make sure to get cranky and cut him off REAL QUICK. Can’t let any of Dave’s followers realize it’s okay to think for yourself!
@@droid2D2C3P0 Are you a hater, your bf not putting out? It's from 1:30-2:20 of the call that he absolutely made no sense in answering the question. All he has to say is I make x in sales, y in commission. That's not that hard for a salesman is it? So you're Ms. Einstein? May I ask what's your education level/college is? "And you failed at listening and comprehension" is grammatically incorrect. You need to go back to middle school and learn proper English.
If you buy rentals with debt then it is a risk, because 1) you can get tenanta which will create problems to you with paying rent, evictions, trashing you property and millions of other things. 2) bank can ask you to repay debt earlier (margin call), 3) government can change rules of play for the rental market making everything more difficult. If you have mortgage in rental and you pay it from rental income from this property any of these risks will ruin you: mortgage payments will not go anywhere, but payments from rent could stop Remember bank is not your best friend, they are friends when sun shines over you, but when it rains they are gone and will create you with pleasure all possible problems
I understand where Dave is coming from but at the end of the day Tik Tok, UA-cam are ways to distribute information. We shouldn’t label something as “Tik Tok” this or that when it really boils down to “Get Rich Quick”. Tik Tok just happens to be the medium the information travels through.
I love that Dave has this fantasy that TikTok invented using leverage to gain wealth, aka, the method used by the vast majority of people who build successful businesses and real estate portfolios.
Every segment Dave ends up bragging and patronizing because he has a lot of money….. well as it’s said there’s plenty of wealthy people , is Dave better than them too? Seems to me he thinks so lol
Hey Ramsey Solutions, I notice a trend in the US where developers buy a mobile home park or a residential rental building/area and then the new owner immediately doubles or triples the rent, effectively kicking out the people living there who were already struggling to make ends meet and making them homeless. Then these developers would renovate the place and turn it into a luxury apartment. I would think of this as a real example of the systemic evil that kicks people off the cliff and forces them to be homeless. Whats your take on this and what would your advice be to us to protect ourselves from this and so that we dont become homeless?
A good example of this is the Elijah Park in California where the developer bought it and effective immediately, the new owner doubled or tripled the rents of the current tenants.
We are seniors who are millionaires but we have a dysfunctional daughter with a 4 year old. We want to know of we should buy her a townhome. They will not take my call or my text, and I think it is because it isn't cut and dry.😢
Real estate has risk in it. Bad tenants, vacancies, appliances break, covid makes it so you can't evict non-paying tenants, home values stay stagnant or decline over a several year period, etc. If you can account for all that and more, then yes it's a faster way to build wealth, but it could also lead to bankruptcy like what happened to Dave.
If it takes you decades to save up for 1 investment property then you are not ready for it... not putting you or anyone down but you have other things to figure out first.
@@SpoonHurler Jimmy, is not that bright. So what it takes 2/3 years to save up. Plenty of time to study the market and locate a decent property. I did when I had to expand my business, saved up, looked at several locations. Paid cash.
@@alinatamashevich3354 yes, I didn't even think about how saving up makes you less impulsive... while you are saving you are much more likely to look at the entire picture of a property/area as well.
What a weird call, a guy claims he makes 500k a year and calls to ask Dave Ramsey for advise? Dave never asked what he does to make that kind of money. Also, not sure why Dave claims rental income is not passive? With my rentals, I don't pay myself income, so yes mine is passive.
@@amireallythatgrumpy6508 STRAIGHT FROM GOOGLE: Passive income is a type of regular income earned without working for an employer or job. It doesn't require any active work where you're receiving money in exchange for a service performed. Sounds like my rental properties honey.
Imagine actually believing google to be a credible source. How comical. Gullible Americans. No wonder you're the laughing stock of the world. @@rickdunn3863
No joke... as a 100% commission job... That's usually a sales type of job. He seemed to have easily switched to from investing into real estate as well... I'm calling BS on the caller.
Because people keep calling and try to do Dave-ish. He's trying to say, listen to me, I've been there and done that and changed my ways. Look where I am now.
If we can pay cash for a townhome for my mentally ill bi polar daughter because she can't work and has a 4 year old and needs a safe place to live. The question is, should we?
@@amireallythatgrumpy6508”youtube is for slightly more intelligent people”. People just say anything nowadays. Im pretty sure most people who use tik tok also watch youtube.
Dave a man of god buying family homes, renting them like crazy expensive putting American families in the street .but hesa man of god yeah easy equation to solve here ..😮😮
Real estate investment losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
investment requires good experience and adviser to carry out a good and successful investing I have lost a lot trying to trade all by myself
jenny pamogas canaya she is the one i work with look her up..
As a realtor in my opinion, a housing market crash is imminent due to the high number of individuals who purchased homes above the asking price despite the low interest rates. These buyers find themselves in precarious situations as housing prices decline, leaving them without any equity. If they become unable to afford their homes, foreclosure becomes a likely outcome. Even attempting to sell would not yield any profits. This scenario is expected to impact a significant number of people, particularly in light of the anticipated surge in layoffs and the rapid increase in the cost of living.
You are right! I’ve diversified my 450K portfolio across various market with the aid of an investment coach, I have been able to generate a little bit above $830k in net profit across high dividend yield stocks, ETF and bonds.
I thoroughly recommend Margaret Johnson Arndt, an investment advisor who is subject to US SEC regulation. She has assisted me with my portfolio for many years. Look her up online; she's a well-known figure.
How do you factor in the fact that inventory is still at record lows which is keeping home prices from crashing even though mortgage rates continue to go up? It really comes down to basic supply and demand and right now supply is so low that prices will likely continue to remain stable. People have been saying there will be a crash for years now and here we still are
Nope. People will just not sell until rates go back down. Keep waiting for that crash
...the equity in the home has nothing to do with the ability to pay the note...
I'm hoping there will be a housing crisis so I can buy cheaply when I sell a few houses in 2024. As a backup plan, I've been thinking about purchasing stocks. What advice do you have for choosing the best buying time? On the one hand, I continue to read and see trading earnings of over $500k each week. On the other side, I keep hearing that the market is out of control and experiencing a dead cat bounce. Why does this happen?
Investing in real estate and stocks might be a wise choice, particularly if you have a sound trading plan that can get you through profitable days.
You're not doing anything wrong; you simply lack the expertise necessary to make money in a bad market. In these difficult circumstances, only really skilled experts who were forced to witness the 2008 financial crisis could expect to generate a large wage.
They are true professionals at the top of their game; I had the pleasure of dealing with one, and it turned out to be really helpful as they assisted me in restructuring my complete portfolio. Julie Anne Hoover, a well-known professional in her field who you may be familiar with, is none other than my advisor.
@@danieljackson87 I must add that Julie’s profile seems to be pretty knowledgeable, so I appreciate the tip. I completely read through her resume, educational history, and qualifications after finding her online, and I must admit, they were extremely remarkable. She responded to my message, and we have scheduled a session.
‘Hi Dave, I make enough to hire the best financial advisors in the country but I thought I’d call to brag a little’
You sound jealous
Jelly!!!
I dont think he is jelous is that every single caller that calls the show makes 260k
Validation is hell of drug if he smart enough to make 500k hes smart enough to understand the concept of dave advice before he calls
How to build wealth in real estate? Easy. Have money. Buy it. Wait. Done. Having money is the hard part.
Yup. Most people forget that Dave Ramsey didn’t get rich initially with real estate.
It was his company Ramsey solutions that made him rich. Then he used that money to buy real estate and get richer.
Yeah, hard when you spend it all.
During the Great Recession 2008-2011, houses in my subdivision ($250K),
sold for $50-$100K, they now sell ~$500K.
people bought 5 at a time.
And if you can do the work yourself is a big component
Dave still wants us to pretend he personally deals with tenants. 😂😂😂
I can believe he did at one point. Enough to know it can be a pita.
Well obviously when you get to a certain size you have employees and it’s a legitimate real estate business.
He's said quite a few times that his daughters husband now manages that for him
@luisvigo, No one does if they are willing to pay the fee to have another company do it.
Pretty bogus comment. You have anything better to do buddy? Anything more productive? That was boring
Dave also invested in his company and his brand, which has been the thing that has made him the most amount of money. Keep that in mind
A company and brand THAT INCLUDES real estate....
@@amireallythatgrumpy6508 ad space, subscriptions, and content sales are where the bulk of his money is from
I’m pretty sure he created his initial worth through real estate
@@PatsGators497 well duh, because that was his first gig. But he wouldn’t be as wealthy as he is without his brand and products
Pretty sure hundreds of real estate properties bring in a similar amount of money...@@Jajaky
Having rentals, if you're not a slumlord, is just another job.
Investing in various sources of income that are independent of the government should be the most essential thing on everyone's mind right now. especially in light of the global economic crisis at the moment. I have $560,000 sitting in savings searching for the best method to enter these markets. This is still an excellent moment to invest in equities, gold, silver, and digital currencies.
Something I’ve learned from my first bear market: You don’t have to outperform, just survive. If you can survive and let your competitors blow up you’ll be the only one left and in a better position than before.
Building a good financial-portfolio is more complex so I would recommend you seek professional support. This way you can get strategies designed to address your unique long-term goals and financial dreams.
Working with a professional to develop a well-structured investing portfolio is a wonderful approach to get started. That's why I've been working on my dealings with “NICOLE DESIREE SIMON”.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform.
Mind if I ask you recommend this particular professional you use their service? i have quite a lot of marketing problems
It's not passive unless there is an executive management and a board of directors.
Dude. What do you mean how do you build wealth?
You make a ton of money. Save up cash, buy a rental, repeat. I'd kill to be in his spot
If this guy sticks 10% of his gross under his mattress every year he’ll retire with 1.5 million
@@TonyCox1351 with compound interest, probably more
I’ve known 3 people who tried borrowing their way to wealth in real estate. They ALL lost their shirts & are now in completely different fields. Like Dave, 2 of them had to declare bankruptcy.
borrowing their way to wealth is a generalized statement. anyone can be reckless if not paying attention.
I know dozens of people who borrowed their way to wealth in real estate. They became multi millionaires by the time they were in mid forties (with all the loans paid off).
Dave Ramsey preaches a safe and slow way to build wealth. That’s ONE way to do things. Doesn’t mean every other way is wrong.
If people are wreckless (like they try to flip houses without doing proper research) doesn’t mean “borrowing money is bad. People need to learn to do it right way.
@@kshitiz06 My husband and I aren't in real estate, (although I almost got my license a few years ago) but we have bought properties twice, putting 10% down and borrowing the rest. We made over $100k profit on the sale of the first house and the property we have now has tripled the price since we bought it so we will make an even bigger profit when we sell. One can make money even when borrowing but you have to be very, very careful. I hope to be able to build a portfolio in the future.
Don't all the way agree. He should consider real estate if he understands the pitfalls and maps out how much he makes, property value, market outlook, etc. If he thinks he's gonna sit back and watch his money go up, he's mistaken.
Also, there are other avenues to make money, like real estate investment. You have far less power, but fewer tenant headaches.
Dave knows what he's talking about!!
You can be having the best day, all motivated, and then Dave comes along and ruins it for you.
Dave would have absolutely no argument against 80% down on investment properties. No real chance of foreclosure, increased growth and very safe. So obviously financing is ok to some degree, he just a super high earner and can realistically safe 100% of the money needed. The average joe shouldn’t pay off property if the rate is good
2:31 why does Dave interrupt soo much?? My goodness 😅😬
His show, his rules, you call Dave, you get Dave's advice. Pretty simple.
Cause he's powerful.he believes every body it's stupid for not having money.he uses bible,Jesus God whatever to his advantage,he loves God but puts families in the streets for buying them renting crazy but he loves godddd yeahhhh.
Because he's fielded thousands of calls and can tell when people are trying to justify their stupid ideas/decisions.
@@dr_pinna543 Correct!
Ugh please stop taking calls from these people, anyone making half a million doesn't need help from Dave and its frustrating to hear them act like their life is hard. They should be paying someone for individual advice
They're the only people who actually call.
Broke people telling rich people they should pay for financial advice and wonder why they're broke.
@@SRD1281 lmao my next worth is over 300k. I got here because of Dave's advice. I also recognize that I dont need to call him and ask why I can't live on 100k a year because it isn't that hard. 500k there really is no excuse.
By the way he’s talking I don’t think he makes 500k
@@ozzyarellano6509 I don’t know. Car dealers and real estate agents and people who own real estate don’t sound sophisticated, they can just be really really wealthy. And I’ve learned where I live they’re frustrated bc they have high class income but are not blue bloods. So they don’t fit in anywhere
This whole idea that millionaires don’t inherit their money for the most part is true but Dave is talking about people that have a one million dollars. What he’s misrepresenting is those “one millionaires” aren’t rich, but he groups them in with people with 20+ million like they’re the same. If you looked at people with $20+ million, a majority of that money would have come from inheritance.
Yea it is a show to help people so it show you what you can do. If you want to make a show where poor people whine go for it.
@@joesmith3590 Mic drop
@@alinatamashevich3354😂😂😂
@@joesmith3590 It's also a show designed to make poor people believe in something they can't feasibly achieve. When Dave or George are cornered in that respect, they always throw out a generic "just drive Uber, deliver food, go crazy". Those things aren't going to make you any real money and in a lot of cases, expenses exceed earnings. What Dave is doing is the same thing that Fox News and CNN does, which is attempting to normalize the crazy wealthy to the masses and convince them that with some hard work, you can make it too. In the background, they're cutting taxes on themselves and social programs for regular people so you'll never catch up.
You know i used to think the same but look at the statistics wealth doesnt inherit well by the time it reaches the 3rd generation the money is gone. I come fron the descendents of the spanish colonizers we had everything ranches houses, maids, money. My family was filthy rich in Mexico that money is gone to the point that we all immigrated. My family blends perfect with the mexican upper class except we dont have the cash its all gone. There is a spanish saying Grandpa (immigrant worker) Son (second generation Millionere) Grandson ( pordiosero) [ raggs poverty]. That is the history of all latin America we used to be filthy rich now its all gone and the grandsons that feel entitled are the ones voting for Left wings communist policies and all its doing is making latin America poorer
31 making half a mil sounds like most Americans. How do the call screeners dump the people losing their homes and can’t pay rent all the time for brag calls
You wanna just whine about how you can’t get out of debt or you wanna also hear stories from one of the winners you’d like to become like?
@@adamseidel9780 I’m out of debt with my own business I’m good just would like to hear more about everyday Americans not rich people nepo babies that need to hire finance manager because they aren’t responsible enough making 500k a year.
Most Americans make $500K+ a year?!? Are you re'tarded?
@@cgasucks it was sarcasm
@@cgasucksare YOU???
My only question about Dave's study would be to ask, of those 89% of wealthy people, how many of them are younger people?
I never seen the study. Also prob 0
I personally haven't read the study, but it is there; they did it a couple of years ago if I recall. As is a Ramsey study, very likely you are going to find majority of those millionaires be above of 50, which is honestly what would you expect
Youth is wasted on the young and wealth is wasted on the old.
@@XXnickles It was a lot longer than a couple years ago. The study was the subject of Chris Hogan's book "Everyday Millionaires" and he's been gone from Ramsey for quite a few years now.
They found the average millionaire was somewhere around 47-49 years old.
You can pay a company 1-3% to manage a rental property for you.
But when your renters stop paying rent and you have to evict, believe me, it's your problem and you will spend time and money. As well, when they damage your place, again, you will have to be involved. Plus, there is normal wear and tear over the years on rentals where you have to fork out money and you will be involved in that. So, no, this is not passive income.
Dave started getting upset when this guy started giving away being a landlord is easy lol
I would just go heavy on index funds put 20k a month and by 45 you could easily retire a mult millionaire. Then if you are bored and want to deal more with Tennants buy some properties cash.
This guy wants risk
I would love to be in his position!
Wonder what he sells- likely solar
Yes, pay off your 3% mortgages.
I don't see how a guy making $500k in sales has any time to deal with tenants and foreclosures in real estate.
Easy, hire a management company or have someone help out
Systems...
You have zero idea how easy being a landlord is.
Most months involve doing absolutely nothing. Sometimes you have to call somebody, but that's about it.
@@LyricalTampon wrong. I have been a landlord for more than 10 years.
@@reese85 sure that's an option, but they charge 8% to 12%, which eats into your profits.
Lol mutual funds. What a waste
“I have several hundred million dollars worth of real estate because I pay cash” 🙄 yea Dave. Because you make $100mm a year
Weird, how did he get that?
Highly doubt he makes 100m a year
@@reese85do you understand the concept of sarcasm or exaggeration?
Now he does.
He started after bankruptcy making 80k a year while paying off chapter 13 on 3 million dollars
@@droid2D2C3P0 no because I’m sure some ppl really think this
What does he sell?
I luv reading the comments. So many listeners refuting everything Dave says like the caller is looking for their opinion 😂
The comment section is literally for ppl to give their own opinion
Comments aren't for cheerleading only, that would be pretty boring.
I only rent to active duty military. If they don't pay......straight to their command, believe me, the command will resolve it.
That's illegal lmao.
That's super fucking illegal on like multiple levels.
Fair Housing Laws prohibit shit like this, and military status isn't a protected class.
Give me 1/4 of that and I won't have to ask for any advice. We gude! Live edit: anyone who says price point deserves to fail. The price is the price. Either you can afford it ir you can't.
I feel like what he was trying to say was “500k in sales, with 140k commission.”
Yeah, is prolly why the caller does so well on sales. Number mumbo jumbo.
This dude can literally do anything and be a multimillionaire… he can just buy VTI or a divided etf for cash.
Dave was going along, having a nice conversation with this guy, then realized he’s utilized some reasonably structured debt to build his portfolio and Dave had to make sure to get cranky and cut him off REAL QUICK. Can’t let any of Dave’s followers realize it’s okay to think for yourself!
Way it should be, debt is dumb
The last time an American thought for themselves, Dave wasn't even born.
He even failed in making a brag call 😂. Goes from saying $140k to $500k/yr.
I think he meant 500k in sales but 140k + in commission
He didn’t say that. Listen again.
And you failed at listening and comprehension..... 🤦♀️
@@droid2D2C3P0 Are you a hater, your bf not putting out? It's from 1:30-2:20 of the call that he absolutely made no sense in answering the question. All he has to say is I make x in sales, y in commission. That's not that hard for a salesman is it? So you're Ms. Einstein? May I ask what's your education level/college is?
"And you failed at listening and comprehension" is grammatically incorrect. You need to go back to middle school and learn proper English.
@@droid2D2C3P0 Tell ya boyfriend to give you the D so you're not grumpy and grouchy with your comments.
So wtf did that guy do for a living. I need on that.
Probably a realtor
If you buy rentals with debt then it is a risk, because 1) you can get tenanta which will create problems to you with paying rent, evictions, trashing you property and millions of other things. 2) bank can ask you to repay debt earlier (margin call), 3) government can change rules of play for the rental market making everything more difficult. If you have mortgage in rental and you pay it from rental income from this property any of these risks will ruin you: mortgage payments will not go anywhere, but payments from rent could stop
Remember bank is not your best friend, they are friends when sun shines over you, but when it rains they are gone and will create you with pleasure all possible problems
That’s why Dave want the no debt plan.
I understand where Dave is coming from but at the end of the day Tik Tok, UA-cam are ways to distribute information. We shouldn’t label something as “Tik Tok” this or that when it really boils down to “Get Rich Quick”. Tik Tok just happens to be the medium the information travels through.
True. I'm sure Grant Cardone would promote the same strategy whether it be a TikTok video or a $10K private strategy call.
The problem is TikTok is psychological weapon 😂
Dave also posts on tiktok.
the issue is without tik tok the guys wouldn’t even be known. If you don’t like it and it bugs you it is time to grow up and get off tik tok.
I love that Dave has this fantasy that TikTok invented using leverage to gain wealth, aka, the method used by the vast majority of people who build successful businesses and real estate portfolios.
Every segment Dave ends up bragging and patronizing because he has a lot of money….. well as it’s said there’s plenty of wealthy people , is Dave better than them too? Seems to me he thinks so lol
This is a brag his story seems whack and all over the place.
Yay, 413!
Hey Ramsey Solutions, I notice a trend in the US where developers buy a mobile home park or a residential rental building/area and then the new owner immediately doubles or triples the rent, effectively kicking out the people living there who were already struggling to make ends meet and making them homeless. Then these developers would renovate the place and turn it into a luxury apartment. I would think of this as a real example of the systemic evil that kicks people off the cliff and forces them to be homeless. Whats your take on this and what would your advice be to us to protect ourselves from this and so that we dont become homeless?
A good example of this is the Elijah Park in California where the developer bought it and effective immediately, the new owner doubled or tripled the rents of the current tenants.
Brag call. What did he do at that age to earn that money drug dealer maybe.
Why you hating?
you sound broke
Broke
We are seniors who are millionaires but we have a dysfunctional daughter with a 4 year old.
We want to know of we should buy her a townhome. They will not take my call or my text, and I think it is because it isn't cut and dry.😢
@@reese85 Most people do what the callers makes good money.
1 way, don't listen to Dave. It would take years or decades to get cash for property.
Real estate has risk in it. Bad tenants, vacancies, appliances break, covid makes it so you can't evict non-paying tenants, home values stay stagnant or decline over a several year period, etc. If you can account for all that and more, then yes it's a faster way to build wealth, but it could also lead to bankruptcy like what happened to Dave.
@Jimmy, only for you, many have done and many will do it. Your broke joke advice is getting old
If it takes you decades to save up for 1 investment property then you are not ready for it... not putting you or anyone down but you have other things to figure out first.
@@SpoonHurler Jimmy, is not that bright. So what it takes 2/3 years to save up. Plenty of time to study the market and locate a decent property. I did when I had to expand my business, saved up, looked at several locations. Paid cash.
@@alinatamashevich3354 yes, I didn't even think about how saving up makes you less impulsive... while you are saving you are much more likely to look at the entire picture of a property/area as well.
What a weird call, a guy claims he makes 500k a year and calls to ask Dave Ramsey for advise? Dave never asked what he does to make that kind of money. Also, not sure why Dave claims rental income is not passive? With my rentals, I don't pay myself income, so yes mine is passive.
Caller said he is on commission = SALES
He just wanted to flex.
There is no such thing as "passive income", honey.
@@amireallythatgrumpy6508 STRAIGHT FROM GOOGLE: Passive income is a type of regular income earned without working for an employer or job. It doesn't require any active work where you're receiving money in exchange for a service performed. Sounds like my rental properties honey.
Imagine actually believing google to be a credible source. How comical. Gullible Americans. No wonder you're the laughing stock of the world. @@rickdunn3863
What does this guy do to make 500k a year? That’s the real question
No joke... as a 100% commission job... That's usually a sales type of job. He seemed to have easily switched to from investing into real estate as well... I'm calling BS on the caller.
@@TheFlyingZulu Like someone commented above. Good enough to make $500k/year, has to call Dave Ramsey for real estate investing advice.
Kid literally said his father thought him how to invest lol
But has to call Dave Ramsey for advice haha
In the study they may not inherit "money" to become millionaires but I'm sure they inherit opportunities.
Yeah the parents actually read to them instead of go to the club. They had a non and a dad at home. Lol anything excuse to not put the work in.
That’s life, are you going to complain in the dark or go find a light?
That’s because inherited makes them billionaires :)
Almost no one becomes a billionaire from inheritance.
Name 3 who did
@@alinatamashevich3354 see above
Dave always loves to flaunt his money.
And you love to flaunt your ignorance Jimmy!
Because people keep calling and try to do Dave-ish. He's trying to say, listen to me, I've been there and done that and changed my ways. Look where I am now.
@@dr_pinna543 Jimmy is the @$$ wart Dave troll.
Carlton Sheets has entered the chat.
wtf does he sell??
If we can pay cash for a townhome for my mentally ill bi polar daughter because she can't work and has a 4 year old and needs a safe place to live. The question is, should we?
Yes, with strings attached.
I wonder what Dave would think if people told him any mistake he made in life were due to watching TicTok videos.
Calling tiktok a mythology is low key genius
✝️🙏
First
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Tik tok is a platform...just like UA-cam Dave.
Tik tok is a platform that stupid people with the attention span of a flea gravitate towards. UA-cam is for slightly more intelligent people.
@@amireallythatgrumpy6508”youtube is for slightly more intelligent people”. People just say anything nowadays. Im pretty sure most people who use tik tok also watch youtube.
@@Brandon-tz5pn Shorts, maybe. The people who use Tiktok cannot handle a video over 2 or 3 minutes long. They don't have the attention span.
I wonder what he sells
Lit ep his going to be broke wihtin a decade if he does not listen to dave
Dave a man of god buying family homes, renting them like crazy expensive putting American families in the street .but hesa man of god yeah easy equation to solve here ..😮😮
That would be happening whether he did it or not.
this guy makes 500k? lol