I Owe $200,000 On A Failed Business

[@smustipher]

I consult in the restaurant industry and 75% of the new ones will shut within 2 years. When I walk into a new place, I can typically see when the owner is either inexperienced, cheap, or both, and can typically call it. I look around and thinkn.o myself. "Wow.this person just RUINED their life and they don't even know it". Warning to all aspiring business owners: the first 5 years, you will be working 15 hour days, 7 days a wwek. Sometimes, 20 hour days. Employees can be a real liability. Things will break. The municipality may hit you with some unexpected fines, or demand you make changes that are VERY expensive so that you can remain in operation. I could go on, but do NOT open a business without acccepting that it may fail (through not fault of your own) and ask yourself: "Can I financially withstand this outcome?" If not DON'T DO IT.

[@talyahr3302]

Very valuable perspective

[@drcatrinaking]

15 hour days haven't been my experience. I'll take your word that it's true for the restaurant industry, but business folks recognize the restaurant industry as one of the toughest and least profitable.

[@Truckerdaddy]

The restaurant is pretty hard to be successful at because it's all about location and atmosphere. You can have great food and a nice atmosphere but be in a bad location so nobody comes there and within a year the doors are closed

[@Tehui1974]

The restaurant business sounds absolutely brutal.

[@gooldii1]

Agree 100%. I have gone this way. Thank god, its over.

[@awsomo53]

A moving company doesn't take 200k to open. You can buy a truck and hire a crew and do it for under 25k. They paid for someone else's name and expected it to result in immediate wealth.

[@jeremylewis5154]

Can't replace your 100k job so you borrow 200k plus from the sba to start a business you know nothing about , run it into the ground, lose your franchising rights and then tell Dave your husband loves his 70k job. Dave hit that mute button so fast lol. Dave is right. Never mess with an sba loan. My mortgage went up on my commercial mortgage 11 times.

[@Yogastrong908]

She also told Dave that her husband took 2 years to get this 70K job. That means he’s almost certainly not worth 110K. He probably got laid off because they were overpaying him. Also, who’s going to hire someone out of a job, with a failed business, and then employees for less than a year? Dave is a complete idiot here.

[@Iburn247]

Bingo. This whole situation is horrible 😂

[@Iburn247]

Sounds like the main business is profitable but HE personally couldn't run the franchise

[@myyt3824]

As someone who worked for franchise salons for years, never open a franchise. Ever. I’m opening my own independent salon. I answer to no one. The buck stops with me.

[@mikesawyer4707]

The both of you need to get your income up. Immediately. God bless the both of them.

[@Yogastrong908]

Maybe she can get a better job but he’s not making more than 70K. The fact that it took him 2 years to find a job paying 70K means he isn’t worth much more than that. Also, most companies won’t hire someone with a spotty job history.

[@rexmundi273]

They don't even know what they bought.

[@marchosch3876]

Anyone else feel this is more than just a business that ran into some bad luck? As in, the caller and her husband might have gotten scammed by a "business" and just don't want to admit it? I think she might be leaving something out. EDIT: Maybe it wasn't a scam, they were just in over their heads. But it still seems like she's not telling the whole story.

[@user-mv9tt4st9k]

I was expecting her to drop the name of an MLM company.

[@marchosch3876]

@@user-mv9tt4st9k That came to my mind, as well, but I could be wrong... Again, the way she worded it was worded so carefully, almost as if she wasn't telling the whole story so as not to completely embarrass herself.

[@talyahr3302]

Nah I think it was a moving business but sounds to me like they thought it would just be successful without trying because it was already running, when really they needed to know how to market their business.

[@marchosch3876]

@@talyahr3302 Fair enough. Maybe it's because the caller and her husband are (rightly) embarrassed, but it just seems like she was really light on details. And if it wasn't a scam, I could understand how - at the very least - they feel like they were scammed. Even if they weren't.

[@margie909]

No

[@kennethso6811]

This lady isn’t interested in paying down her debt. She is just trying to find a way out

[@jimmymcgill6778]

She have never said that.

[@Yogastrong908]

She definitely is. Dave was too busy trying to argue with her about what her husband is worth in the free market to address that though.

[@Hiker2110]

I disagree. I think Dave hit the nail on the head. They took a massive blow to their confidence after the business failed. Their income can certainly pay off the debt, it's just not going to be immediate and it is a constant reminder of the failure. She just sounds sad.

[@Iburn247]

​@@DJ-tn3ovhaha 😂

[@andrew8168]

Divorce and bankruptcy.

[@trojan7933]

It's annoying when callers don't even know their business or numbers.

[@johncameron4194]

Good point

[@tommyjones6866]

At only $48k a year theres no reason why Dave wasn't insisting on her making more money too.

[@DaveRamsey-pt9kg]

D

[@buckibanker]

Id like to just get a 30k raise because Dave told me im worth it lol

[@andrew8168]

Thats the market, right? $100k is the new $70k.

[@donjohnson1416]

News flash, things in REAL life dont get handed to you. Hes saying go out and GET IT.

[@buckibanker]

@@donjohnson1416 lol I bet you are a blast at parties.

[@rnt45t1]

Yeah, he has no concept of how employment works. I guarantee you he gives as little in raises as possible in his company.

[@NWforager]

i doubt it @@rnt45t1

[@herbertscott9575]

This is why buying franchises is a horrible idea...even the ones people think are turnkey and safe because of the name brand. When you are being marketed to and pursueded to buy in, you get the royal treatment. Soon as they have your money and the business starts failing...you are 100% on your own...always..with EVERY "buy in" business model. Franchises are just a way for big businesses to exit and smaller businesses to grow capital. You buy into a franchise, ask yourself this simple question....would I buy this much stock in this same company right now? What does the buy in price breakdown to per share? Again, they will promise the world until your numbers start failing. No different than mlms, Ponzi's and pyramid schemes.

[@robloxvids2233]

After what happened to the Quizno's franchise owners I would never own a franchise. They had a contract that franchisees had to buy the bread and stuff from a company of Quizno's choosing. Sounds fine, right? The company will be able to get the best deal and of course will look out for franchisees. Nope. Quiznos started a side company that sold bread and shit at like 3x the price and forced franchisees to buy that bread and there was nothing they could do about it. The Quiznos company literally held a gun to the franchisees' heads and robbed them blind until everyone went bankrupt. Insanity.

[@herbertscott9575]

@@robloxvids2233 I remember that, horrible situation for those franchisees.

[@lafrugalistefutee6221]

You'd want more than the return from the stocks. You need a premium for the operation of the business and all the work. Stocks are just passive mail-money.

[@fortunateson2]

Or just invest in a well established franchise like a Subway or Dunkin Donuts not a moving company.

[@RalstigRacing]

Chick Fil A.

[@reginachaakum4312]

Beans and rice have gone up in price due to Dave mentioning it always

[@Tehui1974]

I always used the phrase 'rice and tuna', but this show is changing my lingo. LOL

[@Thomas.Bolleiro]

I know right😅 Now it's more of a "salt and bread"

[@carlosa9108]

Even the eggs have gone up to get some fried eggs on the side 😭🤣

[@jamesrichey2434]

I have to somewhat disagree with Dave here. I've worked for big corporations for almost 30 years and am no better for it. I now work for a privately owned business and I have to say, It's the best job I've ever had and yet it doesn't pay even close. Sometimes life is worth more than money.

[@Wablestomp2]

Yeah but I bet you didn’t go 200k+ into debt before having any traction in that business haha

[@cutehumor]

223k debt isnt going away taking a paycut at a private business 😂

[@dungeonmaster6292]

​@@cutehumorjust ignore the debt and work under the table

[@Yogastrong908]

“You are what your record says you are.” - Bill Parcells Let’s apply this here “You are worth what a company is willing to pay you.” Bottom line he isn’t worth 110K. He was let go from a previous job making 110K probably because he was overpaid. He needs to stay where he is. By the way, what company would hire him after being somewhere else after such a short time?

[@nathansimpson5721]

Dave is definitely out of touch with the job market. He has good life advice but he hasn't been in the full time job market in who knows how long

[@Mavryck_Tha_Myghty]

Yet he reviews the finances of people like this every day. How is that “out of touch”? He probably knows the market more than anyone in this comment section, because he literally studies it daily.

[@nathansimpson5721]

@@Mavryck_Tha_Myghty he’s out of touch because he hasn’t had a real full time job in probably over 30 years. He just reinvests capital all day long. That doesn’t make him a bad person, but it makes him ignorant to some extent. Don’t take it personally my guy, just an observation

[@TonyCox1351]

@@Mavryck_Tha_Myghtyyou think Dave spends every day studying supply chain salaries in the Tampa area?

[@dungeonmaster6292]

​@@nathansimpson5721financial industry is immoral

[@JP-uy9kq]

At his next interview the guy should just say what Dave Ramsey says his salary should be during the negotiation.

[@davidphones7290]

Enterpreneurship 101: DONT BORROW TO START A BUSINESS! (Most businesses fail!)

[@silversurfertim2123]

One in five fail 😢

[@patty109109]

David always assumes that he knows more about a person’s job than they do.

[@jorgesalazar818]

But the guy was making 100k before already.

[@BaconMountainMan]

I live on the outskirts of Denver. I commute into Denver. I get that they got their butts kicked, but it's not that hard to commute into the city where the work is. 😑

[@user-mv9tt4st9k]

Not just where the work is, where the higher salaries are.

[@joeriveracomedy]

I didn't know there was brand recognition in a moving company to constitute franchising

[@fortunateson2]

Me either.

[@joeriveracomedy]

​@@silentnot4812you move once in a blue moon. I doubt anyone remembers who moved them.

[@fireseeker4him]

I think Uhaul is franchised

[@FortuneSeek3rz]

That sounds like a super low price for a moving franchise anyway, which tells me the business was already in dire straits and they thought they could turn it around. Sounds like when covid hit the moving business took a vacation due to the work from home movement because no houses were being bought or sold.

[@slimdude2011]

The worst thing about this situation is that they've both knew what they were getting themselves into, knowing it was a high risk, but they took the chance anyway. They should've followed their instincts because, a person doesn't get bad vibes about a situation for nothing. Usually, it's a warning sign that's telling you not to do it.

[@shea1219]

You need at least 5 years to get a business off the ground. A minimum of 3 years. It took me 3 years to get my business off the ground.. It's a lot of work, but you need to stick with it.

[@user-mv9tt4st9k]

I was wondering if they may have had an opportunity to stick it out and decided it was too overwhelming. They may have been able to ride out the downturn until business picked up. I guess it depends upon what type of moving business it was.

[@ArtaxForever]

"Retirement is not an age, its a financial decision".

[@jimmymcgill6778]

Should have put in in an LLC. The company won't buy back a license. They would write in the contract that say's that you can't sell it. Dave thinks everyone can just make 6 figures?

[@tkdevlop]

He properly won't be qualified under that LLC 😂 banks are not idiot

[@Yogastrong908]

Exactly. If it took him 2 years to find a job paying 70K then he’s probably worth that. Not even close to 110K. Dave needs to get his head out of his ass.

[@buckibanker]

SBA and 99% of banks require personal guarantees on all loans for small businesses.

[@jimmymcgill6778]

@@buckibanker From what I've read, only up to 200k.

[@Tank-vi2dv]

​​@@jimmymcgill6778find me the video that Dave says 'I think everyone makes 6 figures.' Ill wait.

[@jillgott6567]

I like when Dave and Jade are together. They have both walked THE walk. It is not just talk to them. Sadly, I cab not relate to the other hosts. They just seem to be parroting what Dave says. Christina was another favorite- she KNEW how it was to be low income. It wasn't just a story mom and dad shared but her life. And, these are the folks I want to learn from.

[@siva47931]

What exactly did Jade contribute here? Watch it again

[@jillgott6567]

@@siva47931 She and her husband paid off $460,000 in student loans and credit cards.

[@ryankiel4895]

Yeah, what happened to Christina? Apparently she's gone. I've not seen a new video of her in months and months.

[@creolelady182]

She doesn't want to answer questions.

[@14elvira14]

Unfortunately 70,000 isn't a great income these days..

[@steelcastle5616]

Depends on where and how you live. Manhattan, NY on 70k is a different life than Manhattan, KS on 70k.

[@bigpicturethinking5620]

Certainly not in the Tampa Bay Area.

[@masterk5066]

In Memphis 70k u can get a paid off vette & a 5bed mini mansion 💀🤣 but yeah not in some of these other cities

[@steelcastle5616]

@@masterk5066 Know what you mean...I'm from the Dirty South Memphis!

[@AnnaWitte-f8f]

I live in California and my rent on 1,200 feet apartment is 50,000 a yr so 70,000 I couldn’t survive here as a family.

[@madisonhruschka3718]

It's really sad what has happened to our workforce. Many of these companies that "restructured" were overpaying employees to begin with because they had tax exemptions. The extra salary was essentially subsidized by tax payers. Now many people have been hit with serious wage drops. I think the caller needs to work really hard with her husband to figure out what the best steps are to make him a more attractive job candidate (negotiations, leadership skills, interview skills, tech efficiency). Also, it would definitely help if she can figure out a job that bumps up to 65k. In 5 years they could be debt-free on a tight budget if they work their income up.

[@thelogicaldanger]

Employee's haven't been overpaid for many years. Rather, CEO's serve on each other's boards and vote each other exorbitant pay--and they pay for that by underpaying employees. CEO pay is 400x the average worker in their company. In 1965 it was 20x. "Restructuring" is just a way for CEO's to bump their already exorbitant salary even more, even though it hurts their companies quality of service and/or goods.

[@lolwtnick4362]

​@@thelogicaldangerimagine saying, i dont get paid enough because my coworkers get paid too much. lmao

[@nevinkuser9892]

You could literally make your own moving company with $1,000 for Instagram ads. Crazy that the bank even approved that loan!

[@alkatmsu]

Lol what? You're gonna need at least one truck and some insurance, minimum, assuming you as the business owner also perform all the manual labor as well and don't need any employees

[@rsafree1139]

So trucks and employees are free?

[@untouchable360x]

Bankruptcy is the best option. "Because the SBA is a federal agency, many people mistakenly believe that SBA loans are not dischargeable in bankruptcy. On the contrary, with the exception of student loans, most government loans including SBA loans can be easily discharged in bankruptcy."

[@tmi4507]

Why? It’s their debt. They should pay it right?

[@BHarris25]

Dave would never tell anyone to file bankruptcy.

[@BHarris25]

But yes, that’s what they should do lol.

[@andrewsnyder9262]

@@BHarris25even though he did years ago.

[@dungeonmaster6292]

​@@tmi4507no. The banks took the risk. Let them eat it. It's not as if they used sound money built from savings. They conjure the debt into existence from thin air. Bankruptcy is what Dave himself did when he floundered.

[@TheGomez1105]

Dave: No I don’t think, I know. 😆

[@raphaelhoetzel9040]

You inspire people so much

[@gm2407]

Anything secured against you personally always counts. LLC means you lose what you already put into it because the liability is limited. If you are an Owner/director of a company that goes bankrupt it goes against your reputation as a fit and propper person to hold those positions and as the owner it affects your credit worthyness. Everything in finance is double entry because there is a second half to a transaction. Screw up, there is a consequence.

[@Shortballa11]

I find it hilarious that Dave just thinks its so easy to apply and get a six figure job. Like they giving them out like candy lol

[@ForkMcGee]

It's pretty easy if you previously made 6 figures and are going back into the industry after a few years. Especially since the wage hikes that have taken place during the pandemic. How you managed to garner 17 likes on your comment is interesting. As if you and the people who liked your comment didn't catch the part where the guy used to make 110k/year. Interesting!

[@mikesmith-wk7vy]

That’s the number one thing I don’t like about Dave , especially around housing topics . He just seems to assume 100k jobs are easy to get , his plan if someone wants an average home they need to be making 6 figures

[@danwhitson610]

You are correct! 6 figure jobs are not given out like candy however with proper skills, experience and knowledge in the industry they are out there if you go after them. I have a high school degree but I have been in the construction industry for 25 years. I was making six figures 20 years ago and this year $200,000 is in reach. Know your worth and never stop climbing the ladder!

[@Shortballa11]

@@danwhitson610 God bless, im 25k away, but I wasnt speaking personally. I was just mentioning because the wife said multiple times he had been applying to jobs

[@drcatrinaking]

He's an employer. Employers tend to know what employees are worth.

[@shamarbrown2249]

Should have listed it on loopnet

[@talyahr3302]

Sounds like they thought their franchise would be automatically successful without really trying because it was already running, but really they needed to market themselves and probably didn't know how to if this is their first business.

[@DaveRamsey-pt9kg]

Thank

[@theflightsimulationexperie6894]

Dave said “when I was a lot younger and arrogant.” Sorry for the reality check Dave but you still are. Also, Dave acts like there are people pounding at your door begging to take there 6 figure job. He is so out of touch when reality up there in Nashville with his 788 million dollar business.

[@MH-et5sn]

Yes, he is in that regard. It's more realistic for the wife to make another 20k and they live on rice and beans. They should also work second jobs.

[@theflightsimulationexperie6894]

@@MH-et5sn agreed.

[@amireallythatgrumpy6508]

All Americans are arrogant.

[@picadosinferno]

Kudos to the guy who sold a sinking ship for $200k

[@dungeonmaster6292]

Based. He's doing well. Most likely they got slammed by ConViD

[@M.....................]

Sorry, they're going through this. I hope she knows that shes an amazing wife and support. Shes giving him room to grieve the loss (as she does as well) and he needs to be the one calling to know what to do. You can do this!

[@dungeonmaster6292]

Bankruptcy fixes this in less than 10 years

[@qjc2300]

She and her husband can just sell the house but we all know debt slaves not going to do that.

[@AlexiusS]

And live where??? Apartments in Tampa are expensive

[@Tunechi65]

🤡🤡

[@frequentyoutubewatcher1633]

Yes that’s a solution…start over…I mean it’s extreme but they’re in a extreme situation

[@sleepyjoe1685]

These are the types of people that would buy bridges off the internet.

[@Michael-jo9jb]

I'm still amazed how Dave can get to the root cause so fast on a call

[@miketheyunggod2534]

Dave: “ I don’t think. I know”. Yes, Dave is correct. He doesn’t think.

[@siva47931]

Great input from Jade! Really showing her value here

[@laurenc4553]

That's true! 😂

[@ronj2508]

😂😂😂😂😂😂

[@goodgirlsguide]

he was a little wishy washy - so they were probably very indecisive when running the business. He was the risk taker - she wasn't.

[@blessed7fold]

What turns so many people off to Dave is the way he treats callers. Cutting them off, not letting them finish their sentences and being rude. He often quotes Proverbs. He needs to read the Proverb that says a soft word turns away wrath but a harsh word stirs up anger.

[@amireallythatgrumpy6508]

Stirring up anger is exactly what's needed. People need to get angry at their situation - this fires them up to take action

[@annaelisavettavonnedozza9607]

I CANNOT believe there are people who really go into school debt all for a degree that puts them into a job like “supply chain.”

[@teaiz94]

That's the point.

[@ghjong001]

I cannot believe there are people who really look down on someone who works in "supply chain".

[@OopsFailedArt]

@@ghjong001agreed. Supply chain management is extremely complex. It’s actually one of the few degrees I think is WORTH pursuing along with the normal culprits like engineering and medicine…

[@blodus4521]

Guess you didn't watch the video. You can make good money in supply chain as Dave mentioned to the caller. Going into debt is bad obviously, but the field itself is not a mockery.

[@bensondentalassociates8690]

Who mentioned debt on his degree?

[@queen.kristal8395]

Hmm I would maybe settle for less with a good lawyer depends on the interest as well.also I wouldn’t buy a failing business with no inventory either

[@afhyoutube]

Excuses excuses excuses

[@winewoman224]

It’s amazing the gullibility of people to really mess up their life.

[@Fishouta]

Don't know what the caller does for a living, but why can't she get HER income up? Why does it fall on the man all the time. Point two is that if he is skilled in logistics, just why did the moving business fail?

[@user-mv9tt4st9k]

From her income she might be in secretarial or admin. If she is in a mid sized or larger company she might be able to apply for open positions with a higher base salary. There is always the possibility of a moonlighter to make additional income. I did that for a while until a client contacted me to ask if I was interested in temp work. She knew my work and skill set and told me I could be making $5.00 to $10.00 more an hour and work full time.

[@megalodon1726]

Being skilled in an industry doesn't mean you know how to run a business in the industry. Most chefs can't run a restaurant, most lawyers can't run a law firm.

[@Fishouta]

@@megalodon1726 My point was that running a business is all about logistics. Having skills in logistics means you should be skilled in running any kind of business.

[@TheSoulCrisis]

They have a lot of debt, it doesn’t matter how much he enjoys it he’s gotta level up that income soon (or she has to).

[@cantgetright742]

Or never pay em a penny.

[@jet4415]

They found a buyer with you guys.

[@sarazink2237]

Anytime the caller keeps saying ‘well’ … they have no interest in learning and just want to get validation from Dave.

[@qjc2300]

Smh.... always start a business small and with your on capital

[@siva47931]

If Amazon, Google, Facebook, Microsoft or Apple followed your advice we'd still be using typewriters

[@qjc2300]

Those companies was back by government funding trust and believe that!

[@MrJimmy3459]

@@siva47931 Because every single business ends up like Amazon, Google, Facebook, Microsoft and Apple RIGHT??

[@firstnamelastname3558]

@@siva47931, Amazon was started in Bezos’ garage. So, I agree with the post; Bezos started small and turned his business into a Goliath.

[@siva47931]

@@firstnamelastname3558 He didn't only use his capital, used money from his parents. Which Dave would have said no to

[@chrishayes4166]

Dave says he's been where they are but doesn't recommend what he did to reset his screw up (i.e. file Bankruptcy)? Obviously it comes with it's own pain, but the odds of them paying the $223k business loan off shorter than 7 years sounds unlikely.

[@dungeonmaster6292]

This is a great point. Thank you for making it

[@LeeG260]

Pretty direct (not harsh) response to the caller, but lots of truth. Maybe they could have explored the use of an attorney to review the Franchise Agreement and/or the allowance of expansion by another franchisee into the region. Seems they should have been entitled to some amount of payment unless possibly the caller and husband forfeited due to closure.

[@Mr_New_Vegas_685]

Dave thinks is super easy to make 100k

[@user-mv9tt4st9k]

Sometimes it is when you start at $75,000.00. The key part is to identify where the upward movement and raises are, and to stay zt the company for longer than a couple of years. 😉

[@amireallythatgrumpy6508]

No, he knows that whether it's easy or hard is irrelevant.

[@Ja50nkAt]

Sounds like he made an emotional decision paying too much right when interest rates started to rise and people stopped buying and selling homes and moving.

[@drn13355]

She keeps saying "yeah but". He is clear. They need to make more money when they owe 223K. Or you slowly pay it offer the next 10 years.

[@dungeonmaster6292]

Bankruptcy is the solution

[@TharsanJeyachandran]

Lit ep

[@mervindervish284]

Can't they do some type of bankruptcy? Like Dave did.

[@dungeonmaster6292]

Exactly

[@amireallythatgrumpy6508]

Dave did not actually file bankruptcy.

[@mervindervish284]

@@amireallythatgrumpy6508 So did he pay back his creditors 100% + interest? Anyway Dave gives some good advice here and there, but the reason the MSM celebrates him is that he convinces middle and lower class people to do the peasant thing and pay off their debts 100% plus interest.

[@loriej9297]

What happened to the money from the sale of the assets? I'm surprised Dave didnt ask that.

[@unclebenny]

If all debt is bad debt, then the long-term perspective of the US economy isn’t looking so good since every company in the S&P 500 carries some sort of debt. Would this mean Dave’s investment advice is poor?

[@MH-et5sn]

The whole system is built on debt lol. It will collapse at some point.

[@unclebenny]

@@MH-et5sn Some say the system flat lined in 2008 and we’ve been on life support ever since.

[@amireallythatgrumpy6508]

It would mean there's no such thing as good investment advice.

[@sliver108]

Yes it's bad advice because he generalizes it all the time.

[@dungeonmaster6292]

Well you could avoid the financial system like the plague

[@ethangamer3173]

Actions or lack of have *CONSEQUENCES*

[@xsgtxbigboy1655]

Like how every call is the same everytime , tells the guy they need to do more and get better income even tho he’s almost double her income no he ignored that he needs to do better instead of telling her if she got to his income they be making 150 a year

[@cutehumor]

file bankruptcy

[@CarnivoreStork]

Did either of them bother to look in the ‘yellow pages’ of the internet or beyond to see how many companies were out there for competition? 🤦🏻‍♀️

[@Yogastrong908]

I’ve looked, 70K sounds about right for the Tampa area.

[@CarnivoreStork]

@@Yogastrong908 I mean ‘moving companies’ Any jack rabbit with a used medium truck can open up the business with No money down. Rip off Franchise is unnecessary.

[@kuochoenikoi-kotei5134]

Let her talk, man. Finding a job is not that easy.

[@myyt3824]

How did they get that huge SBA loan?? You need to cover 80% of your loan amount with collateral. What did they pledge?!?!?!

[@williamkhsu4]

know someone who at 23yrs, fresh grad, got a logistic job paying $140k!

[@youtubelife9248]

Yeah well we’ll yeah well

[@JakeTheSnake500]

Would bankruptcy be an option here? I'm not necessarily advocating for it. I'm just curiuos how it would work.

[@dungeonmaster6292]

Yes it is the solution. The same one Dave opted for when he crashed and burned

[@filipxavier1041]

Really well articulated; I wish I had more time for trial and error, but I'll be 56 in August and I need ideas and advice on what investments to make to set myself up for retirement, especially with the looming inflation and recession; my goal is to have at least $1 million by the age of 60.

[@christinajurado9180]

On my end, I've used expert, an investment adviser at that and she really worked magic on my portfolio. Initially I was always in and out of the market selling at a complete loss, but for the past 2years I've been mostly in the green, earning steady profit irrespective of market movement thus gaining over $850k+ in the past 2years.

[@filipxavier1041]

Wow That's encouraging , how'd you go about getting a proper investment-adviser like that? I've had plans to touch base with one, I'm just not sure how to go about it. I don't mind looking up this one that guides you.

[@christinajurado9180]

Well Her name is Camille Anne Hector. Find her online, then get in touch with her. She’s well renowned for her work as a consequence of a recent Bloomberg piece. She has a homepage devoted to consultations.

[@mariasimpson9628]

@@christinajurado9180 Crazy This reference seems really valid.. Just looked up her full name on my browser and found her webpage without sweat, Alot of years experience is certainly striking! very much appreciate it thanks for sharing

[@filipxavier1041]

I just googled her and I'm really impressed with her credentials; I definitely reached out to her since I need all the assistance I can get. I just scheduled a caII. thanks really for sharing this.

[@sliver108]

"Debt only works when debt works and that's never" This is the most ridiculous thing I think I've ever heard him say. There are millions of small and large companies that produce revenue off of assets that were bought with debt. Honestly it's getting to the point that he's just reckless and doesn't care what he says. And ignorant people eat this up like it's the last piece of nutrient rich financial information on this earth.

[@kentondragon9263]

Wait a minute, why doesn't she up her income, and why buy a franchise when you can by a house? Or rental? 😳🤷‍♀️

[@jimmymcgill6778]

Nothing wrong with taking out a loan to start a business. They gave up so easily. Only had it for a year.

[@Tank-vi2dv]

But now they are broke... soooooooo.... there is something wrong. Can your big brain figure it out?

[@mindfuel_topup]

Please what 5 high income skills will you recommend for someone looking to make 10k - 50k a month as a freelancer?? 🙏🙏🙏🙏🙏

[@user-mv9tt4st9k]

Is this a franchise or a MLM company?

[@timbaze5207]

I know Dav hates bankruptcy, but you can discharge an SBA loan on a bankruptcy

[@currenteventsenthusiast9477]

I don’t like Dave’s sales pitch at the start of each video recently. The excitement of watching a new upload and hearing the intro jingle interrupted by an advertisement is disappointing

[@annaelisavettavonnedozza9607]

I don’t get any advertisements on Premium

[@Fishouta]

Agree! Horrible. Will lose some fans I'm sure. I don't need an effing ad for their budging software.

[@currenteventsenthusiast9477]

It’s not an ad before the video. It’s a few seconds into the video he says brought to you by every dollar

[@Fishouta]

@@currenteventsenthusiast9477 which is an advertisement.

[@uncommonsense5876]

This guy has got to get out there and slay some dragons. There is opportunity out there.. you MAKE the opportunity happen 💪😎👍

[@uncommonsense5876]

Btw, networking is the way to BUILD wealth and find opportunity. Grow your friend netWork to grow your netWorth

[@djpuplex]

Two guys and a van. Man wife and a bankruptcy. The franchiser will find another fool doesnt want it out there. Dave thinks everyone is underpaid these businesses just dont want to pay.

[@Ravetar101]

Sell the husband

[@semosancus5506]

I hate the new intro...

[@DJRiyzen]

Just skip the first 10 seconds by double tapping on the screen.

[@alunn12345]

When callers are answering salary, are they saying what they are getting net after tax?

[@user-mv9tt4st9k]

It depends on the call. Sometimes the hosts will ask the caller to clarify net or gross income.

[@vioxx111]

This woman really sounds averse to hard work.

[@Yogastrong908]

Based on what exactly? Most of this was on her husband. He’s making what he’s worth. End of story.

[@vioxx111]

@@Yogastrong908 My opinion based on her tone and language throughout the video. "Well....." whenever discussion about making more money came up.

[@Yogastrong908]

Her husband was unemployed for two years after being let go from a job making 110K. He then crashed and burned his business and it sounds like almost a year of looking later found a job for 70K. Bottom line, he was overpaid when he was getting 110K. In addition, his employment history is so shoddy I doubt any company would take a chance on him for anywhere near 110K

[@zgab5835]

What does Dave mean SBA is like student loans lol? The SBA EIDL Loans can be declared in a Ch 7 bankruptcy I know ppl who did it

[@FortuneSeek3rz]

I would assume their household income is too high for a judge to approve a bankruptcy.

[@tonyhaze5064]

Guarantee there not going to throw 1 penny at there debt. Not judging. Just obvious Dave's speech is falling on deaf ears

[@Iburn247]

This lady is lying about something

[@user-mv9tt4st9k]

I sensed that the "franchise" might have been a MLM company. I knew someone who bought into an MLM company for $25,000.00--he lost it.

[@xfhnhhgjbvcfg]

There is so much demand for moving companies in the Tampa area this woman sucks at running a business

[@FortuneSeek3rz]

It might not have been like that during the worst of the covid era though.

[@jimmycranberry5436]

Probably a two men and a truck Franchise. When those pass hand hands all the other franchises around swallow up the work

[@zenthegeneral]

It's one thing to fail a business. Business is difficult and there are so many variables, entrepreneurship is difficult It's another thing to fail a business that you bought on money you didn't really have. You were never a business owner truly, but if you fail you're spiritually a slave to whoever you thought you were gonna pay pack.

[@Mr.Boring_Man]

If everything went well, she'd be saying more "we" and "I" because that sounds better when you're taking half. Smh.

[@arnphawk]

oops

[@creolelady182]

It is incredible to me that people would take on this incredible debt in tihs economy. People do not have the disposable income anymore like they once did. She is delusional and is making up excuses. people do not wnat to make the hard decisions. They just hope and pray things work out

[@theoldrook]

David Ramsey was more arrogant before the bankruptcy? That's an interesting picture haha

[@dungeonmaster6292]

Lol. He didn't mention to her his bankruptcy, did he?

[@JasonGroom]

He was arrogant before, now he is just overly arrogant with better advice