Is This The Best Way To Get Into Real Estate Investing?

Explore More Shows from Ramsey Network:

Ramsey Solutions Privacy Policy

[graywilliams_.]

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.

[MaryRAllen-ntoz]

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.

[alexandrajuliette]

The future belongs to those who believe in the beauty of their dreams. Success is a state of mind. I think I'm blessed because if not I wouldn't have met someone who is as spectacular as Expert Mrs Lucy Mary Liam.

[adamseidel]

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.

[realestateinvestingtips]

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!

[KEANUWHITE]

I love the preface and disclaimer of his history in the market, explaining the great risk that most folks will overlook in real estate.

[JustAName-itqp]

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.

[Slvrdo]

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.

[jaybenekin]

No such thing as “zero payments” even if the house’s paid off! You still have insurance, taxes, maintenance, water, etc…

[lunganikhubone]

You Are Not The Only One With This Owesome Idea.

[jasonjosephlee]

Start off small and then trade up into bigger properties. Buy, hold and wait for appreciation.

[matthewbmalone]

Great video, I’d love to get into this🔥

[redman]

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.

[chodge]

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

[fhuber]

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.

[maxshiraz]

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

[dan]

What Dave never mentions is his huge shovel… his company.

[johnSmith-uznl]

You make $55K per year and you save your as off for many years and come up with 20% and you then by a $300K home (you owe $240K). Now Dave wants you to pay off the $240k and save another $300K so you can buy a rental... this is not realistic.

[StrongBodyandMind]

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

[oa]

Rent and utilities for both of them are $850-$900?? That's insanely good. We need some more info on that.