Use A Cash-Out Refinance to Buy Another Home?

Use A Cash-Out Refinance to Buy Another Home?
Listen to how ordinary people built extraordinary wealth—and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Christy Wright, Rachel Cruze, Anthony ONeal and John Delony. -

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[miketheyunggod]

That’s what we did and paid off the loan after the first house was sold. It’s a great way to move from one house to another. Works out perfectly.

[-injustice-]

Love this new channel ltb more episodes would be great

[kainelbst]

He's 53 and a half. I haven't said that since I was 12

[tonysoprano]

I bought home in 2018. Thank God I did. My wife actually loves New York, Boston, Connecticut, Seattle, she loves seasonal weather. Politics aside, I wouldn’t mind. I don’t plan on selling the Cali home. Bought for 460 home worth 580, owe 390, 190 in equity! Never will sell only rent.

[regtalkswealth]

The concentration when the guys were listening to the man's story was so serious

[MrOfficer]

He should take a look at the Texas and florida coasts. Low cost of living and no state income tax in either of those.

[Donnafrank-ke]

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.

[thereelaccountant]

When Dave said you can only gold or fish so much, I laughed so hard. Boy he is WRONG lol. People like me and some of my friends would have ZERO problem fishing every day of the year.

[mrm]

Great advice. People need to focus on the numbers (facts) without becoming so emotional about it.

[familyfuntimeadventuretoyr]

Me and two brothers are in a trust of my mother house..The house is paid for and it's value at 1, 500, 000 ..we just paid property taxes of $8500..it's a mixed used property half of the property is commercial/ retail..and the other half is residential.. We don't know what to do with this home because it's in a trust Are we allowed to take any of this money out to invest in buy another house or can we invest in the house to make money from interest.. All three of us brothers are in a bad financially situation.. What can we do to make money off this home? I want to buy a house in Texas that cost $120, 000 I don't have a down payment and I don't qualify and I'd like to use some of the equity from our home to buy this cash out.. I heard of reverse mortgage cash refinance or refinance I just don't know where to start

[saulgoodman]

Dave does have long distance land lording.
A Google search of his companies, shows he has property all over the country.

You can easily rent them out and hire a property management company.

[slidegirl]

Florida, South Carolina, or the Delta Coast

[ericnewman]

He can buy 3 or 4 middle class houses for 1.2 mil in Texas depending on where you want to move unless he moves to Dallas Austin or Houston then 2 or 3. Nice houses here are 200-300k post covid.

[Sable]

Disagree here. I would never sell my rental if it was in SJC regardless of the politics. I know because I live here.

[philmaz]

Or use low interest debt as leverage that gets slowly eaten away by inflation 🤷‍♂️

[cal]

Dave needs to be more respectful to others. He is right in what he is saying, he just lacks respect when saying it.

[DJLUCIANO]

Facebook stock will continue to make him a killing, he should keep it.

[simplefit]

Good plan. Dave
Long distance landlord does not sound fun, unless you have a management company looking after it.
Go move to a cheaper place that you will be happier living in.

[ashleyjones]

Why move to Tennessee when your wife loves the beach!?!?! Move to Florida!!! This way his wife won’t be wanting to move again after a year or so bc she misses the beach.

[BrendanEvan]

Dave really stopped and listened to this guy.