How Dave Ramsey Made $600 MILLION!

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[@TheIcedCoffeeHour]

Watch the full episode here: kzbin.info/www/bejne/j6XEoZmaq72Zr7s

[@harlee886]

Kudos editor! Everything we needed to hear, seamless, well spaced 🎉🎉

[@tmzz3609]

I'll translate for you. Dave Ramsey made $600 million selling books to you

[@charlesincharge1245]

Biggest red flag out there - are they trying to give you advice or sell you a product… the smart ones sell their advice and the dumb ones think it’s some top secret.

[@spurman20]

Dave’s advice is cost me $0. I have worked his plan for 3 years and he has made exactly nothing from me. Dave is not the enemy.

[@spurman20]

Some clarification for anyone interested..started nov 2019 with 75k in every piece of consumer debt imaginable. Credit cards, personal loans, vehicles, a boat etc and I didn’t have $300 to my name at any given time. Found him when I googled “best way to get out of debt” and started watching KZbin vids and listening to his radio show. It lit a fire that I didn’t know I had and fast forward to today I’m don’t free of everything but my home with 6 months of expenses saved and am currently in the process of starting my own business with cash. It cost me absolutely nothing except sheer will and determination that only came after paying absolutely nothing for Dave’s advice. He may have gotten rich off of common sense, but that wasn’t what he was aiming to do when he became “the debt free guy”.

[@snowps1]

Good for him. He found a way to make a ton of money.

[@jackjack4412]

​@@spurman20 how much do you have in savings?

[@JEREMY99218]

His traumatic experience going through bankruptcy is why he has a pathological hate for "debt".

[@carolluther1625]

He has filed bankruptcy 2x's. And yes I totally understand his philosophy on debt.

[@TheRealAG622]

Thanks for explaining. It's now clear as mud.

[@Sam-lb3bs]

Just grow up wealthy it’s very simple

[@lukkke9]

Yeah I was expecting a step by step video of his entire life, everything he’s done to get to this point. Without that I can never be successful…. Stop feeling bad for yourself and figure it out on your own…. That’s what he did. Not watch a video with all the answers , you won’t find it.

[@TheRealAG622]

​@@lukkke9 First off, it's called sarcasm. You know, a joke. 2nd, I'm perfectly content where I'm at in life(financially, relationship, house, kids, white picket fence etc). 3rd, the video literally has the title of how Dave Ramsey made $600 million and he just says he was bankrupt and then prayed and budgeted his money. So the comment of clear as mud and it's verbal irony basically means thanks for nothing. Hope that clears things up for ya bud

[@lukkke9]

@@TheRealAG622 clear as mud, good job.

[@rachael8078]

@@Sam-lb3bs I call that broke mindset

[@troyblum3447]

"I was broke, then I started buying real estate!" Wow great insight Dave, I'll be sure to take that advice!

[@cl8326]

He was taking loans from banks...lmao not his money

[@mohnjayer]

It was the 80s and he borrowed all the money. Pretty much that simple.

[@gorkyd7912]

He's specifically telling you not to do what he did in all of his courses. He had a million net worth but a million debt, with interest it was 2 million he owed so he went bankrupt. He now preaches not going into debt, living within your means.

[@GenerationalDisappointment]

@@gorkyd7912 That's refreshing when so many "gurus" tell you the wonders of debt and how all the richest people use debt to their advantage.

[@metaldreams3595]

There's much more to the story...obviously ...it's called nutshelling

[@DanielPeaster]

“I made a lot of money telling other people how I made a lot of money.”

[@Thelastrelapse31]

Exactly that’s 600 millions you didn’t make selling hood to people

[@aisherwasher6959]

@@Thelastrelapse31 Dave has said in a past video that you don't become a billionaire from following his steps, but you will live a good life with your needs provided for and the ability to be outrageously generous

[@AshknFX]

​@aisherwasher i mean he is not a billionaire at 62 so that's make sense.

[@aisherwasher6959]

@@AshknFX I should have said billionaire or deca-millionaire. Point being, you won't become as wealthy as Dave Ramsey by following his baby steps, but youll be comfortable

[@elainesimons9079]

GOD can work any way HE chooses to bless those who are doing what HE instructs by faith. Please stop being jealous of others who succeed,,,

[@forthebetter1996]

Dave had a family member working at that bank who was giving him loans he would have otherwise never qualified for. He shows a complete lack of accountability here. He was over leveraged and got called out for it 🤷🏻‍♂️

[@davids5006]

Tell us more since you have the inside facts? 🤔

[@clayramsey019]

Sounds about right

[@gorkyd7912]

You're saying what he said using different words. You say over leveraged, he says had to get out of debt, these are the same things.

[@clayramsey019]

@@gorkyd7912 no the way he said it it wasn’t his fault the mean banker just wanted to take down a rich kid not taking full responsibility

[@gorkyd7912]

@@clayramsey019 Yea but the essential point of Dave Ramsey's advice remains. The banker had the power to ruin his life because of the bad decisions he made to put himself in that position. It's like blaming the police for ruining your life of crime; the point is not to live a life of crime in the first place.

[@DrainsRUsLLC]

Started off with nothing and started buying real estate lol

[@SuperbExistence]

Very little money is required to buy real estate...

[@DrainsRUsLLC]

@@SuperbExistence yes very little

[@aperson7383]

@@SuperbExistence yeah but if you put down the lowest you can then you will get massive monthly payments.

[@jmarlow2153]

He didn't start off w nothing. But he lost everything....I think the debt collectors even took his kids beds for non payment...he was dead broke. He made his millions by following the techniques he teaches.And his wealth comes from providing advice that people want to pay for. If his advice was no good,people would stop buying. After a divorce,I was in bad financial shape.Dave was just starting in Nashville,and I was unemployed when I started listening. I never bought a single Ramsey product,I just listened to his show. I started late but I am now comfortably retired. His advice changed my life. I had always been in debt,never had any money,despite a good income. Once I started employing his methods I was astonished how quickly I was able to get a cushion of several thousand dollars. I started late and didn't always follow his advice.I still have a small mortgage,and am now retired...not good. If you are young and follow his advice you will prosper.

[@salsabila786]

Exactly, with bankruptcy it's even more difficult to get a mortgage for a house.

[@joelmcneney5366]

Got my degree in real estate..quickly started buying real estate....Like How

[@oneleggedturkey]

I've read all his books, I've followed his advice. He never mentions he had rich parents with rich friends that gave him the shot to become wealthy again.

[@earlybirddan3005]

“Again” And, network to get richer friends?

[@Zugzzzwang]

Most people that create a considerable amount of wealth don’t come from it.

[@andreispiridon3241]

A very large % of multi-millionaire are self-made

[@Mcyoloswaggy69]

Lol. This is just a straight up lie

[@HAL-9000.]

​@@Zugzzzwang That's 100% not true.

[@998828k]

No one loves Dave as much as Dave

[@BambiDextrous]

Yada yada yada and then I was rich.

[@lonniesmith7580]

I know you’re joking, but he’s giving away good information in this clip. Living below your means is HUGE. That is how you save money. I heard a story of a kid who grew up and was broke. They are pb&j for lunch everyday on $.50 Walmart bread. Come to find out, his mother had saved over a million dollars during the time she raised her son. She worked two menial jobs and didn’t make a lot of money, but she lived well below her means so that her family could live a happy life later. The main point is keep consistency in what you do.

[@alrbredwall]

Selective hearing is a sign of low intelligence and it is why you are on here commenting on content and not producing.

[@afonsobrandao6050]

@@alrbredwall bro stfu, talking about producing, while ur in the KZbin shorts, what u mean with selective hearing, this guy just said that made a huge come back by reading the bible, good job with that my friend.

[@toddmiller5046]

The idea that there is something here is a joke. "I went through a couple of jobs and then I just started buying real estate.".

[@JamesBond-wv9xz]

@@toddmiller5046 Yup. I don’t wanna take the advice at the end for granted since I know it’s important but if that’s all you need, you’d find a lot more rich people. We can make an educated guess he took out a lot of loans from the bank to buy other properties, and the second bank didn’t like how over-leveraged he was because it was too much of a risk, especially because this happened around the time of the Greenspan Put where there was a massive market crash starting in October of 1987 (which is likely why his bank was sold to another bank in the first place).

[@richiegiggs]

After a horrendous 2022, shell-stunned financial backers have misfortunes to recover and a lot to consider, as an expansion report and a pile of different information did close to nothing to change assumptions that the Central bank would probably keep climbing intrest rates regardless of whether the economy dials back, And that implies more red ink for portfolios for the principal quarter of year 2023. How might I benefit from the ongoing unstable market, I'm currently at a junction choosing if to exchange my $250k security/stock portfolio.

[@dannyscott1276]

Center around two key targets. In the first place, remain safeguarded by realizing when to offer stocks to cut misfortunes and catch benefits. Second, get ready to benefit when the market turns around.I suggest you look for the direction a representative or monetary consultant.

[@tblazegutt]

@Drago250 Could you please leave your investment advisor details here? I need it urgently.

[@palmersolga]

@Dragon Jee Much appreciated, I gazed her upward on the web and was profoundly dazzled by her qualifications; I reached out to her since I really want all the assist I with canning get. I just set up a call.

[@simeonblair2991]

​@@palmersolga Gazed her upward wkwkwk

[@markthe1860]

Coke and hookers til it's all gone.

[@pw6498]

Biggest, wealthiest ppl have been in a hole. Bankrupt, lost everything once or twice. More money = bigger problems What's more wealth, healthy family and friends or big account, big house? Follow your heart, work harder then most, stay safe and stay happy !!

[@megax5000]

that....that didn't answer anything

[@onion8216]

You didn't understand?

[@megax5000]

@@onion8216 did you?

[@spreadluv1]

@@megax5000 ya go get a degree and work bum

[@PInk77W1]

@@megax5000 he said 1. Follow the Bible 2. Get out of debt 3. Live on less than u make

[@megax5000]

@@PInk77W1 and that's how you get rich?

[@Outdoorsnmotors]

You can tell he’s told that story a million times haha

[@forbes4007]

And? Would you rather him make up something to spice it up?

[@Outdoorsnmotors]

@@forbes4007 people always trying to argue lol, was just stating something.

[@ryansuarez9483]

I've heard these stories from real life people as well.... refinance with a different bank seems like the most logical conclusion.

[@Blackberie]

Seriously. He also doesn’t explain what triggered the clause that allows the bank to call the loan.

[@vitaluka]

@@Blackberiesomeone else mentioned in other comments that he had risky 90 day loans in the first place so the bank could call at anytime to ask for the money.

[@WalterModel45]

​@@Blackberiebecause those loans werre bs

[@ThomasCWiley]

He got rich selling poor people books on how to not be poor.

[@doubleaceprod]

Wrong. He got rich helping people get out of debt. Not every person that goes on his show is "poor". He teaches people how to manage money.

[@WalterModel45]

​doubleaceprodso he didnt do anything in real state

[@rantdeville]

"Quickly started buying property" Wait, back up....

[@gorkyd7912]

How people get into real estate: contracting, house flipping, using regular income to buy mortgaged real estate and then rent it out. How people start buying multiple properties: once you own property and it makes income you can then use those assets as collateral for more loans to buy more properties that increase your income and collateral. So it can happen pretty quick. The problem: all of this requires debt. Real estate investors are basically de facto employees of banks; they translate properties into bank loans, using rent payments to pay interest rates. He had a sweetheart deal with a bank and when it sold to someone else and they margin called him that's when he realized the ancient truth of debt.

[@kateg9437]

Yeah, but then he lost it all. Over leveraged and it went sour, so he started over and moved much more slowly by only buying what he could afford in cash

[@startingtech3900]

“Worked a few jobs” one was a real estate agent where he was killing it for a few years. I think he said he sold 30-40 homes first year so yeah he could have rolled that into properties easy

[@alexanderh1150]

The Bible talks about money and budgeting?

[@inasatok]

"went through as couple job and quickly started buying real estate." I think something is missign from here, atleast the amount of years it needed.

[@giovannyf99]

Don't buy property under your name, buy it under a LLC

[@crunkin1t590]

Why?

[@bitpat7008]

If you go bankrupt under a LLC, you’re only liable for the assets not the whole debt. LLC stands for limited liability company, you’re essentially protected from personal liability.

[@vitaluka]

@@crunkin1t590you can also just declare bankruptcy close the company and start a new company with no penalties to your own personal self or future business.

[@seabass3104]

It’s that easy. Couple jobs, buying real estate, 1 million dollars. Anyone can do it.

[@DontAtMe2k24]

Dave preaches hard on not making money off using debt as leverage. I feel like after he went bankrupt, there was still some additional debt he took on to get back some money. And then slowly moved to cash only, no financing deals.

[@chazigo3106]

Yeah he said that one time. There’s different types of bankruptcy. He did one where you don’t liquidate everything, so he still had some assets under his belt. He probably still did leverage those hard.

[@TheLordsClay]

Eric... You are a smart man. Matthew 📖 chapter 6 verses 24 thru 34...

[@mr.monotonous6659]

So I had nothing… so I bought loads of real estate and I got rich. I think you missed a step buddy

[@KZSoze]

Started with nothing, meh … He grew up in a house of real estate developers, and started at 18. And when he found himself underwater, unlike the advice he gives, he couldn’t declare bankruptcy fast enough.

[@beatricerights]

Thanks, I didn’t know that. I think his advice works well for people that don’t have control over their finances.

[@nicpadilla9836]

If you dont take out ridiculously high risk loans the bank generally wont go after you.

[@jonhill3328]

Degree in Real Estate 😂

[@jalenad11]

Real estate management is a business degree

[@HMuny55]

Clearly you didnt go to University. Theres multiple degrees focused on Real Estate. As well as minor courses.

[@Jj-zh6xp]

@@HMuny55 bro let them just talk 🤣 the poor stay poor

[@forbes4007]

Someone clearly doesn’t know what university degrees in Real Estate are for. Congrats on looking like a fool 👍🏾

[@eugene3211]

Back in the 80’s, real estate wasn’t something you just started like now. It’s something you studied for years because companies wouldn’t want to waste time, materials, leads, etc. on someone “unqualified”

[@CookinCatWithMesoMatt]

His greatest success was created by a combination of his greatest failure and his ability to perservere.

[@diytacoma5758]

Dave doesn't like bankruptcy but I wonder where would he be if he followed his own rules 😅

[@BrianaBudgets]

He says he got rich buying real estate but how did he get the money to buy real estate? That’s the part everyone skips over.

[@CodyDIY]

Dave: debt is bad Also Dave: I was a millionaire at 24 thanks to ****debt****

[@aidentribbets2105]

Broke little baby

[@kateg9437]

I mean, he did proceed to lose it all and have to file for bankruptcy. That's why he hates debt so much

[@CodyDIY]

@@kateg9437 yeah I would hate debt too if I used 6 month construction loans and the housing market collapsed and caused all the banks to call their loans. But I wouldn’t tell other people to also hate debt just because I was a fucking idiot

[@elainesimons9079]

Perhaps Dave recovered from his pride,,,since pride goes before a fall. How can so many people be wrong about another's prosperity? Seriously?

[@elainesimons9079]

​poverty is a curse.

[@RK831]

There was a guy thirty years ago who did the exact same thing. His name was Charles J. GIvens and also sold books (e.s., "Wealth Without Risk" and "Financial Self Defense") and seminars. His information and ideas are not much different than what Dave says today. Givens died 1998 from prostate cancer.

[@kylepearson4235]

I had nothing, so I just jumped into real estate 👍sounds legit

[@tizzlekizzle]

Inherited property. He knows what people want to hear.

[@peter-vt1me]

well he owed 2 million in loans. What doesn’t make sense? Even today you can get a million dollar home loan with only 3-5 percent down.

[@kylepearson4235]

@@peter-vt1me that would be 30,000 to 50,000 down people with nothing don’t have that just lying around

[@jimmyhadley153]

​@@kylepearson4235 Start smaller.

[@Jj-zh6xp]

@@kylepearson4235 you gotta hustle dude , being able to save 30-50k isn’t incredibly hard. Your average person can save that on a basic salary

[@marvinlewis1101]

Lol just became a financial preacher selling basic advice and he was also plugged in to that bank in his 20s. The acquiring bank took proper risk management steps and Dave had nothing liquid. That's why he said he had a million dollar 'networth'. Aka 90% LTV mortgages on a few homes.

[@N3GATiiVE]

i was dead broke so i decided to buy a bunch of houses and flip them. ok yeah i’ll just go buy a fucking house with the money i don’t have 😅😵‍💫😵‍💫

[@xdizzle0460]

Back in the 1980s you didnt really have requirements to prove income and he was doing short term hard money loans. He's telling you he straight up bankrupted himself buying properties with money he didn't have. Literally anyone could just borrow which is why we had the financial crisis.

[@Ericsaidful]

That sounds ridiculous but, all you need is probably $3,000 cash to buy a $150,000 home.

[@Brooklyn-rj3np]

Degree in real estate. LOL

[@elainesimons9079]

Remember, God can work with even real estate! GOD OWNS EVERYTHING!

[@FragranceGlitch]

So much for answering the question.

[@davekirkpatrick5724]

Goes from high roller to bankruptcy, then an average struggling Joe, to hawker / media influencer.

[@PenusDrippings]

He got behind on his payments is what happened.

[@djblstampdjblstamp5159]

That’s actually not how he got rich, he sold $10k plus packages to the masses

[@1weck1]

“And then I bought a bunch of real estate” There it is folks. The secret to making money is spending money that you apparently didn’t have to buy real estate which then turned out to be a good investment. Don’t have the initial funds to buy real estate? Too bad

[@paultiplea]

Plenty of people do this by saving an initial down payment and then leveraging debt to buy more properties. And I’m guessing you didn’t watch till the end, those real estate purchases ended up bankrupting him, they didn’t end up being a good investment.

[@DanceBruce]

The one thing I wish he would explain is why would this bank, want to just demand all this money from him in 120 days when they would be making a ton from him. I feel like something is missing.

[@Hi-qh8zt]

That's the one thing I don't understand regardless if a mortgage is sold the purchaser of the loan just continues the payments. I've been listening to him for several years I've never understood that part of his story

[@DanceBruce]

@@Hi-qh8zt yes I think he did something shady personally. His company these days is really really greedy and not at all what it used to be even 5 years ago. He also preaching about it's the Christian thing to raise rent to make more money. Idk what's going on over at Ramsey but it's not the same I listened to 18 years ago

[@Hi-qh8zt]

@@DanceBruce you definitely have more years of listening to him than I do. Though I agree with his snowball principles how he runs his company and views some of the subjects me and him do not line up.

[@DanceBruce]

@@Hi-qh8zt same here 100%. I think the debt snowball is really a fantastic plan and idea how to manage their debt/money. I should say that I used to be a really big Dave Ramsey follower listening to him on AM radio for years and I'm an insurance agent and actually used to be an ELP for Ramsey solutions. It's really strange to me how Dave is so against credit I think it's the worst thing ever but honestly having good credit is proof of good money management and you can get better prices on things for being better with your money

[@Hi-qh8zt]

@@DanceBruce absolutely understand that got a credit card when I turned 18 bought my house back in 2010 I was 21 going on 22. In two months it will be paid off and I just turned 34. Doin something right I suppose. I tell people all the time I decided not to go to college and go in student loan debt rather my house is my student loan lol

[@louskuntz819]

Fast forward and I’m filthy rich yeah I’m interested in that fast forwarding please

[@disusernamebevalid]

In today’s economy you either work hard or work hard to become conman. Consistency is the key and one of them will lead to success

[@bigbeef8935]

Wait so you didn’t have $1 million net worth at 24 years old. You had $1 million worth of debt at 24 years old and the new bank wanted to know where the hell their money is? I’m confused

[@AnimaLepton]

He was overleveraged, but had 4 million worth of property and 1.2 million of debt. That's well over a million in net worth. But when the bank calls in the loan, you can't actually sell all the property that fast without losing a lot of value in the process, you lose out on fees, you can't get good deals right away, there's no time for property appreciation, etc. In a normal situation, he'd have been 'fine' to pay it off over the standard 20 or 30 year of mortgage, paid for by whoever rented the properties. I don't like Ramsey, but it's not like he wasn't on the path to being rich at a young age.

[@abruhigoham7472]

Old Testament specifically if ya catch my drift lol.

[@TheIrrigationGuy]

✡️

[@JamesBond-wv9xz]

His name is Dave and he’s talking about banks after all lol 👃👃👃

[@Connor-rk8ei]

I wonder what Dave would say to the biblical phrase that a camel has a better shot of passing through the eye of a needle than a rich man getting into heaven.

[@JSRMedia]

The camel should invest in mutual funds.

[@thejakelegion]

If you actually listened to Dave, you'd know what his answer was. He's talked about this a thousand times.

[@JSRMedia]

@@thejakelegion You clearly know the answer to his question yet instead of actually giving him an answer, you just gave him this shit.

[@SergioB-MakingMillionaires]

Jesus was being kind of sarcastic to the rich young man since the young man basically stated he was perfect by following all the commandments since he was little. No one is perfect. That is why Jesus put him to the test and asked him, if you really love your neighbor as you love yourself, sell everything and give it to the poor. Point of the story, no one is perfect. We need Christ in our life, to be better. Jesus does not want us to be poor. It is a lie and people misunderstand the eye of the camel story of the Bible.

[@Connor-rk8ei]

@Sergio Briones - Making Millionaires So you just told me in a huge paragraph that the opposite of a simple message in the Bible is true? I don't miss Christianity one bit. No secret why its following is declining.

[@ShanerTheGrey]

So his parents financed his lifestyle for decades until they died and left him millions. That’s his ACTUAL life story.

[@motoryzen]

Show me proof of your comment being true that it was Dave's parents that Finance his life for help him out. Because I've yet to hear him say a damn thing about that and all my Decades of watching and listening to his content

[@ShanerTheGrey]

@@motoryzen you have access to the internet right?

[@chestercopperpot729]

Simply being rich doesn't deem that you possess qualities that should be aspired towards. Finance and material possessions don't make you who you are...

[@kkknotcool]

What you do makes you who you are. And if you spend your time making money then having lots of money does kinda make you who you are.

[@lgee9027]

Dave- hanging on by a thread, we filed bankruptcy Also Dave- Don’t ever file bankruptcy

[@vitaluka]

I think he’s saying that from personal experience lol

[@hellfire0332]

Not that different from drug addicts saying "Don't do drugs - look what it did to me".

[@drewvinson2348]

Can’t respect a guy who preaches getting out of debt and living debt free but encourages you to use a credit card or get a small loan to pay for his training program…. Smh

[@TitanicMasta]

Bankrupt... Paid for a degree... Simply began buying houses. Rich people are so disconnected from reality

[@crschoen123]

File for bankruptcy, have no debt in your 20s, sell your story and basic accounting principles to naive people. That's a formula for success!

[@PInk77W1]

He has helped millions of people get out of debt

[@aleksandarnedeljkovic8104]

@@PInk77W1 did he though

[@PInk77W1]

@@aleksandarnedeljkovic8104 I know he helped me 1000% Before I heard of Dave I was renting no savings and $11k credit card debt. Now 5yrs later I have No debt. Paid for house. Retired. $42k in savings. Yes he has

[@crschoen123]

Sure, grifters can teach you about finance too. But that's not why he's doing it. The man speaks hate on a daily basis and profits for it. He's a charlatan peddling high school accounting principles. The only people that are helped by his educational materials are those who were ready to change their habits.

[@michaeltewes7833]

@@PInk77W1 congratulations 🎉 The main thing is living on less than what you make and save for the rainy day that ALWAYS comes!

[@Roxality]

God bless, Dave! He has helped so many people.

[@nickbehrooz596]

I refuse to hate on D Ramsey. He sold his story and made millions doing it. Elementary financial advise, although it’s not bad to follow it if you want to learn structure to get your finances in order.

[@washmycup]

This story does not add up. It's more like he made money by telling other people how to make money. You can't have nothing and then start buying real estate. Even with loans, you need some downpayment. Also, if you have a million dollars of net worth you aren't in debt.

[@hellfire0332]

@@washmycup I bought my first house in 2005 with $0 down. In the past, prior to 2007/2008 crash, it was much easier to get a loan, all you needed was proof of income to afford it. He was buying real estate in the 80's.. I could totally see it.

[@scottrasmussen9200]

What happened in the “fast forward” part?

[@davidpasley5133]

How do you pay for a degree if you are broke??? How do you support yourself while getting said degree??

[@jmarlow2153]

He got the degree first then went broke.

[@Icomeheretolearn]

Yeah I wish would’ve explained that, he does in his class and book. He went to school while working full-time. Did it myself.

[@dominicbonarrigo6502]

Who smashed this guys nose with a right hook my god

[@chazigo3106]

He didn’t explain well. It’s actually a degree in finance with a focus in real estate.

[@whitekryptonite]

All you have when you die is memories.

[@jirace]

Borrowing millions doesn't make you a millionaire.

[@JamesBond-wv9xz]

Bruh that’s what I’m saying!! All these gurus talking about leverage and bank loans for real estate and whatnot are talking out their rear.

[@calisurfin]

Dave ramsey is a inspiration, I wish I was as good with financing my money as he was 😁

[@elainesimons9079]

Read the Bible,,and follow GODS instructions. By faith.

[@jameslikesturtles8254]

“I had nothing” ….. “I went out and got my degree in real estate” so you had enough to go to school and get a degree, that’s a luxury to a lot of people, that is not coming from nothing

[@jmarlow2153]

He literally lost it all.

[@mycupoverflows7811]

A real estate license costs $1000-1500 today. Back when he got one it was probably $100-200. Not that expensive and not difficult or time consuming to get.

[@JasonY02]

So basically, he is rich for helping people and telling stories.

[@BrettMaverick]

"quickly started buying real estate" maybe possible 30. years ago but not today

[@prastey1034]

How do you buy real estate whilst broke?

[@lucketravis5623]

I believe they mentioned in the original video that this was when you didn’t need much money for a down payment, and he took on a lot of debt

[@kurtvonnegut9959]

Loan

[@PInk77W1]

Save save save. That’s what I did.

[@chazigo3106]

He got some private investors, then turned around and did a lot of cash out refinances for like 90% LTV. Wish we could do that now.

[@funkseoulbrotha]

Had no idea you can get a degree in real estate

[@Charles50Kal]

Andrew Tate sells a PhD course as well.

[@jacob9583]

Yea just major in realestate with a minor in grifting.

[@dannydevito5729]

The bible says a rich man will have an easier time threading a camel through the eye of a needle than entering heaven. In other words, it's impossible.

[@spankedbyamonkey]

I must've missed Economics in there. Was that before or after Psalms?

[@andyw5513]

You don’t make 600 million from being frugal and saving more than you make 🤣💀

[@DagwoodDogwoggle]

This comment is the gold buried amongst the dirt. Nobody becomes wealthy by not spending and taking on risk.

[@Rome1017Lights]

​@@DagwoodDogwoggle ?? Of course he spent. He spent his money investing in the stock market, sticking to index funds instead of single stocks. Living a frugal life while his money was sitting there making money for him for 30 years... More money makes more money. 20mil sitting at the bank will make you 1mil after *1* year of it just sitting there. After 10 years you've doubled your investment and are sitting at 40mil. This year alone he will have made another 25mil if 300mil of his is just sitting funds. Add to that developing a radio show that grew and grew...writing a book..tv appearances...KZbin channel. Seriously, some of y'all don't know the meaning of working hard. If you think you can just sit on your money, not risk it and expect to make more money you're delusional. He just chose a slower, less risky method compared to the methods everyone and their dog peddles these days.

[@DagwoodDogwoggle]

@@Rome1017Lights kzbin.info/www/bejne/h3unY4ComLmHaq8

[@itstommyv6895]

Summary: - Was broke - Started buying real estate with loans I couldn't pay - Go bankrupt - Start selling self help finance books to gullible people like everyone else does - Make 600 million

[@aidentribbets2105]

And you’re bitching behind a screen, who’s the winner here?

[@marvinlewis1101]

Hes a financial preacher

[@EpicRealEstate]

LOL! And he calls every other "how to get rich" coach an idiot. We learned nothing here other than that you want to conceal how you really made your money. I mean... do your thing and make your money, but the hypocrisy is unbearable.

[@jayswavely6371]

Great business model selling a message to broke people.

[@aidentribbets2105]

This is why you stay broke, by having an attitude like that

[@Kieran7]

my brother is 600 years old, houses were insanely cheap when he was 24 and now he peddles books to morons. Thats how he got rich

[@monicarichardson1712]

Please don't call the masses of people Dave has helped morons. Using his method we paid off 72K of stupid. We are not morons and we aren't poor. We are smart, because we put a plan on practice and it worked.

[@formeyousee]

Dave Ramsey woke me up from being normal (a.k.a. borrowing dumb money, being broke & addicted to debt.) My wife & I will be debt free in 2023 including erasing our mortgage. And our investments are being solidified more & more as we go. Thank you Dave Ramsey! I'm walking towards Financial Peace‼️ I thank God for your ministry 🙂 ‼️

[@WJWeber]

Bank did the right thing lol. Dude couldn’t come up with the money when he had real estate as the asset

[@jmarlow2153]

The video is heavily edited.I think Dave's degree was in Finance.Yes,you can get a BA in real estate. Dave got in a lot of trouble as a real estate investor as a young man.He lost everything.Remember the Savings and Loan Crises? After losing everything he started helping others and made his great fortune in that field. His financial advice covers every aspect of making sound savings and spending decisions not using credit except for home purchase, and essentially not living beyond your means. If you can follow it for 40 years,you can become wealthy.

[@Icomeheretolearn]

I don’t know why everyone is complaining about him being able to go to school. He went to school while working full-time even had to drop at one because he couldn’t afford it. Then he got his real estate license. After making stupid decisions. He worked multiple jobs for several years, not buying crap on credit, didn’t vacation, drove a crap car, lived on less than he made and pulled himself out of debt. What he did has worked for generations.

[@wyattwilliams3065]

Basically said stay down til you come up 😂😂

[@BeneGesseritSaya]

Go left until you go right. Problems solved. 🥴

[@JamesBond-wv9xz]

Boomer moment fr

[@HHSMCJROTC]

The comment section calling Mr. Ramsey a hypocrite for a reel on KZbin and many of the commenters acting like Dave’s a hypocrite for contradicting himself despite none of this contradicting what he says 😂😂😂

[@washmycup]

This story does not add up. It's more like he made money by telling other people how to make money. You can't have nothing and then start buying real estate. Even with loans, you need some downpayment. Also, if you have a million dollars of net worth you aren't in debt.

[@youtubehatesfreespeech2436]

"Just stop being poor" "buy a couple of apartment complexes" "stop drinking coffee"

[@johnorji360]

Thank God that He left us the Bible to access His wisdom. If only we pay attention to it.

[@annaburns2865]

He took advantage of other people’s need for housing. I don’t like this man at all. At least he admits that scamming people will make you rich. Gotta love the fake humbleness.

[@andrewread9691]

“Dead broke, got my degree and bought a bunch of real estate” yeah okay

[@McScott76]

Why does he seem to be claiming victimhood here, but in his books, he talks about how he was a big shot high-roller who bought a car he couldn't afford, etc, and it was his irresponsibility that led to his downfall? It's almost as if he changes the story depending on whether he's trying to manipulate you into buying his books, seminars, app, etc.

[@kathyerikson637]

So you can file for bankruptcy and have your debt forgiven but anyone with a student loan can’t. How is that fair

[@niggaflies]

Limit relationship means call In loans

[@inspectorlife85]

This is the guy who doesn’t believe in government support…but took the bailout….literally.

[@jt411]

Banker talk for you got 90 day loans because of family connections. Then when the bank said this 24 year rich kid is overleverged out the ass he is going to lose all our money they made you pay it back. Then your parents gave you money to support your family and start your new business

[@thomaslukav6291]

ok, save until I've got 600m... got it

[@nikolaig1]

I dont beleive his story. He wouldnt be ssyong half of the atupid things on his shoe if he knew what being broke truly meant.

[@aidentribbets2105]

I don’t think you can talk when you can’t even spell a 4 letter word, sit down kid….

[@washmycup]

This story does not add up. It's more like he made money by telling other people how to make money. You can't have nothing and then start buying real estate. Even with loans, you need some downpayment. Also, if you have a million dollars of net worth you aren't in debt.

[@ajd7121]

A bank buyout caused his mortgages to be called in? Something if fishy about that

[@JavaScriptJolt]

Exactly!

[@ivan33776]

The transition from "a couple of jobs" to "quickly buying properties".... What jobs?😂

[@Snxgur]

his parents are also extremely rich *** his mother was a neurologist and his father was a ceo at a fortune 500 company; his first million dollar property was fully funded by his parents!!! he also had no student debts due to it being fully funded by his parents

[@MoneySavingsTips]

Yeah, real estate was the best way to get rich back then. You could buy relatively cheap & affordable houses back then, and then you could sell them at a profit just a few years later. That's why the housing prices are insane nowadays. If we had been born 30 or 40 years earlier, we could have been making millions on real estate as well.

[@jones2277]

1. degree in real estate (who paid for it?) 2. started a couple jobs (what jobs? who hired you? what were your qualifications?) 3. quickly started buying real estate (who gave you the money?) let's start there.

[@jones2277]

@Christopher D and why did the bank give him money? did he have collateral? did you have a superior credit rating?

[@jones2277]

@Christopher D you and i both know that getting approved for an unsecured loan, even today, requires a certain level of privilege.

[@carksnell9442]

Thank you Dave Ramsey you have helped me so much. May Almighty God bless you forever.

[@Simpleharmonica]

Why would a bank default on loans if the person is making his payments on time?

[@tolo5651]

I wish I could buy a house for $40k

[@roxannestaton6258]

Dave has helped thousands of people, that’s a service to God. Thank you Dave🙏