Get A 15 Year Mortgage Or Save To Buy A House With Cash?

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[ChristopherAbelman]

I think it's time to make it more appealing for potential buyers. Real estate can be quite the rollercoaster! the stress and uncertainty are getting to me. I think I'll cut rents to attract potential buyers and exit the market, but i'm at crossroads if to allocate the entire $680k liquidity value to my stock portfolio?

[apt]

I bought my first house for 250k during the recession it’s worth 550k now. If I waited 10 yrs to saved up 250k I would hv to pay double.

[frenchyalicea]

Currently im working +100hrs a week determined to pay my debts and everything off. It feels like itll never happen and really tests my fortitude and belief that ill get there...but step by step im trusting in the Lord.

[ayc]

When I’m in the mood to make dumb financial moves, I listen to Dave first. Helps me to get rid of those thoughts

[Lourd-Bab]

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.

[tracydoverspike]

My husband and I took your class a few years ago. We were pleased to learn that we were already on your Baby Step 5. I'm happy to report that a week ago we paid off our home. Before we took your class we had a twenty-year mortgage but after your class, it was our goal to pay off our home as quickly we could. We're debt free and it really is the best feeling in the world. Thank you for your program.

[matthewbartke]

If he combines the 2, he can get the house on a 15y mortgage and then pay it off in a few years anyway.

[jg]

his whole point about bankers is right on point. I own my house debt free and I paid rent while saving cash making 60 to 100k per year to pay for my house. I was thinking about getting a bigger house with a mortgage. after talking to a credit union about all the fees they wanted to hit me with I decided to buy what I could afford with my cash I saved.. Thanks to dave

[uanC]

I regret not taking out a loan to buy a house 3 years ago. I could have bought a nice house for $180k-200k.

Instead, I tried saving up to buy a house cash and home prices keep increasing. Those same houses are now $250k-$300k. I finally gave up and got a loan.

If I would have gotten a loan 3 years ago, I could've paid it off already.

[erinfrancisco]

OK. I'll save up $1, 000, 000 right now. Bye

[AlonsoRules]

go to Detroit and buy a whole street for $1000

[ludwigvonsowell]

27 year old literally sounds like a 40 year old. Good lord.

[cunnnham]

Lots of interesting comments and good points...but I’d like to think DR is doing something, that in the military we referred as providing a rule set for the LCD (lowest common denominator)...which unfortunately was often time the majority. Many will be in markets where it makes sense to jump in, get a loan and ride the wave up...but bottom line is unless you have a crystal ball these options are gamble...where with DRs advice you will never completely lose, you may have been able to make more by taking risks, but you will never end up homeless by buying a house cash.

[kevindashid]

He said have a paid off house in 4 years at the age of 31. If he got a 15 year fixed mortgage, he’d have the house in faster than 4 years because he’d pay what he’s paying for rent towards the mortgage plus whatever he’s saving to pay the house off with. You can run this up mathematically and I bet it makes sense. For Dave, this is just pure principle and so that’s why he said he couldn’t be mad either way.

[knpstrr]

A mortgage is an okay debt. That being said, you shouldn't buy too much house, which sometimes people do since they think they can afford the payment. That is trouble.

[jerryk]

I'm turning my finances around thanks to you Dave! It really does start with baby steps. Thanks for all you do!

[TheRosswise]

I built a house during the recession, it turned out to be the best time to build a house as I built a house for $75k that appraised for $130k when it was finished. I then paid the house off in full 4 years later. I didn't have the cash to build a house when I did, now my house appraises for $230k. I am anti-debt too, but sometimes biting the bullet and getting a mortgage is the right thing to do.

[wade_says]

It’s crazy to me how much most of these callers make per year. Good grief.

[jatiprasetyonusossn]

"Next time you see me in a Bank is Because I'm Buying it...!!!"

Wooow...Savaaaage...😊😊

[philmarsh]

I waited and paid cash for my house because I didn't want to EVER be unemployed with a mortgage.