What Should I Do With My Home's Equity?

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[ChristopherAbelman]

It’s hard to nail down specific predictions for the housing market because it’s not yet clear how quickly or how much the Federal Reserve can bring down inflation and borrowing costs without tanking buyer demand for everything from homes to cars.

[tahirisaid]

HELOAN, HELOCs and cash-out refis should ONLY be used as leverage for investing in rental real estate. If you have sufficient equity in your primary residence and you’ve done your due diligence and the numbers work out on a great deal, a HELOC is preferable as you can pay it off when your ARV (After Rehab Value) on the new acquisition is enough to refinance the total debt. Service that debt from the rental revenue and enjoy the residual net cash flow. Then use it again on future acquisitions. This is what I’m doing.

[MrFuchew]

I really envy people that live somewhere that a 160k house is even a thing

[warwagon]

Dave Ramsey "I'm sorry" .... I have the feeling she wanted to respond with "I'm not"

[reedallidap]

Dave always gives advice that isn’t popular but most responsible

[samhull]

I feel like the thirty year gives you a lower initial payment so you have more wiggle room in which to pay it down. Like... My 30 year is slated to get paid off in about 10. But without me freaking out that I can't make the monthly payment nor sacrificing on the house.

[milkncookie]

Remember kids, in the eyes of the Government and Law: Marriage is just a business deal.

[Romejkl]

I live in Rhode island I bought my 2family house in 2017 for 250k...my first floor pays half my mortgage I live on the second floor today my house is worth 350k

[Luis-xrec]

I’m just here laying down listening to this conversation in my early 20’s telling myself “don’t get married”

[HunterDawson]

90+ % of first time buyers can't afford to buy a house on a 15 year fixed rate which the payments are no more that 25% of your take home pay in the UK because they are too expensive

If you wait till you can afford to do that, you'll just rent forever

[afulltimelife]

Move to SC and she’ll be able to put 20% down on a nice home and pay $300 to $600 a year in taxes for it. And plenty of jobs.

[jasonpace]

Terrible advice him being against a 30 year….. smh. You can always do a 30 year to get a lower payment and do extra payments towards principal. Not everyone is rich Dave… you might find a 15 year east but I bet that would crush her every month. And to tell her to rent for now? Like what?
Pay the car off, that’s one less payment per month to worry about. Then set aside 3-6 months worth of cash as an emergency fund. Then whatever is left use towards the down payment on the next cheaper home in a 30 year fixed.

[theglitchmindset]

Wow he is so through he is taking into account her emotional situation not just her financial

[ItsMikeArre]

2 marriages and she doesn’t have a retirement plan ? She sounds like she needs a better divorce attorney

[NotShowingOff]

One quarter of take home pay? It would be hard to rent at that level.

[ChrisInvests]

We're continually reminded that money is the number one cause of divorce 🙄👎

[turbolabamerica]

She seems happy, she must have made off good from the separation

[NoRRiS]

Saturday date night $9.27 with a red box movie to end it. 16 months till debt free!

[rustydoorknob]

This is great advice! Thank you so much, I'm 22 and just bought a home for $130, 000. So this is fantastic to know! :)

[nateuerdaz]

As a Lancaster PA native I call bs on the rent. There is cheaper rent in decent areas....they just aren't as new or "nice" as others. I lived in Manheim pa paying 750 a month all in with utils in a 2br just a few years ago. Manheim is 15 min from Lancaster....