Should I Buy A Duplex And Rent The Other Half?

[@proad4516]

he didn't say better than I deserve

[@wmurray003]

...cause at that moment... he wasn't better than he deserved.

[@willdennis7076]

😂

[@EmpireTextbooks]

Proad god finally away with that annoying response

[@elisabeth530]

I scrolled down immediately to see if there was a comment saying this 😂

[@lizwick]

Proad i noticed that lol 😂

[@hardchooligan]

I'm so sick of hearing people who make 6 figures complain they cant live off it. The income isnt the problem,your spending is the problem

[@troxycotton5819]

Unless you live in San Francisco

[@TRAVELSOUTHAFRICA777]

Depends on where you live

[@debrawilliams7983]

Some am I

[@kbanghart]

If you're sick of it, the problem may be you.

[@reesercliff]

easy to have six figures when its a combined income, 100k is just 50k individually and with a family 100k is not that much anymore. Easy to struggle with a family on $100k sorry to break it to you but inflation is a very real thing

[@windsongshf]

Dave: Don't put so much on your plate! Also Dave: Why aren't you working 3 jobs and going to school full time?

[@brokenhandle]

They're debt-free except the house, can live off one person's income & and have a new baby - probably not really applicable 😉

[@MrWesford]

To give Dave some slack, each person’s situation is different so advice will be different from person to person. And I think he would say the 3 jobs are so they can get rid of debt and have less on their plate. That being said, I think she can take or leave his advice about the duplex. In general the idea is great, the only risk is that the tenant is terrible and gives them a headache. But the savings might be worth it lol.

[@2Years2Farm]

Also Dave’s haters: have 6 figure diet and a lot of credit cards.

[@Cyber_Guy2]

While paying off your student loans

[@bm4551]

I think he advises that depending on monetary situation. This couple does not seem to be in debt hole.

[@kenneth804]

“I have an amazing...” “No you don’t. “

[@ivarlosna6516]

Tired of listening to all these well educated people making $100k plus from a salary and complain about their finances.

[@AldoFelt]

Ivar Losna making 100k and all confused lol

[@destinhook3826]

it doesn’t matter how much you make, it matters how much you SPEND

[@joiab11]

me too

[@stephena5752]

It’s easier to owe more when you make more.

[@joshmeyers372]

“400 k and don’t know what to do!”

[@reptilianskin]

I think owning a duplex and renting out the other unit can be very wise financially. I know where I live single family homes experience better price appreciation than a multi unit such as a duplex, but from a cash flow perspective a duplex is rewarding.

[@Tameka_White]

I’m thinking of purchasing one but I’ll have a management company over it. I wouldn’t want my neighbor to know I own it.

[@Jonathan-ex3sl]

Appreciation is always speculative, cash flow is better

[@cherelle469]

That’s only if you can find someone who pays and when you don’t have someone can you afford the payments until you do find someone?

[@ronynikke]

So u mean a single home is better than duplex?

[@nathanaeladdison3631]

@@Tameka_Whitewhy wouldn’t you want your neighbor to know?

[@vtonyvicente102]

Enough new? I made a career change, purchased a duplex in a new town, started school, work 50 hours & am getting into house flipping. How is the brilliant idea of having a tenant pay down 65% of your mortgage something you wouldn't recommend? It's all about finding the ideal tenant, which I was able to do. Treat meeting potential tenants like a job interview.

[@DozIT]

​@The Artful Dodger Did you also have a baby and commit the rest of your life to someone via. marrage? Those are some pretty big changes that can't really be compared to things like work and school

[@JesusEsDios007]

You are not married and not have children maybe?

[@robertromero8094]

Different people not the same suggestions apply to you.

[@MichaelSmith-ny9qh]

He doesn't like risk

[@tonytilleskjor4132]

Because Ramsey is super conservative. Unless you make millions like he does from his syndicated program and books, it would take several lifetimes to get extremely wealthy with his recommendations. Not take advantage of your company’s ESPP? Are you friggin nuts Ramsey? That’s a 15% gain at the time of purchase no matter what. Listen, this guy is awesome when it comes to budgeting and paying down debt but if you want to get wealthy, and are ok taking on a little risk, go elsewhere.

[@stephaniem.2909]

He seems like he is done with the calls 😂

[@redcomic619]

There definitely was a period from 2016-2018ish where Dave was less enthusiastic. Maybe he had something going on in his personal life.

[@shawnakay9013]

$100,000k a year... I could live very well on that 😂

[@joemomma7161]

Shawna Kay yeah, but you always want more

[@lakersfankb2486]

Not here in California

[@jculver1674]

Depends where you live. If you're in a big city or near the coast, 100k is barely making it.

[@sledgehammer3286]

Never settle. You deserve more.

[@phoenix9999]

I live in expensive Miami and can survive on $40,000 with a rent of $1500. They are living beyond their means.

[@johnshaw3285]

Lady try living off $34,000 like most of America does per year or less

[@haleychapman4447]

Exactly

[@donnafontaine2799]

And again exactly!

[@otgenius]

😮😮😮34k???? And 91 people seem to agree?? HOW???? They must be single and with no kids.

[@johnshaw3285]

@@otgenius rent: 10k. Utilities car insurance gas for car clothes etc. 10k. Food entertainment extra mechanic money in case the one car breaks down or the one minivan. 14k..... There I just gave you a breakdown on how a family of sometimes up to five Mom and Dad and three or four kids can survive on 34K take home.... It's not easy but it can't be done and it is done.

[@otgenius]

@@johnshaw3285 definitely not in Miami Fl... average rent yearly is already 28k over here...and the average Fl household income is 58k! No wonder most people (over 60%) are living paycheck to paycheck in this country.

[@Pbagz1]

Yeah, don’t buy a duplex and progress as real estate investors, accumulating cash flowing rental properties. Be a good little boy and girl and keep feeding Wall Street, you should invest with Dave’s advertisers.

[@ducksinarow1005]

Spot on John Doe. You just solved it

[@apedroza5743]

im sorry i love dave but he's completely wrong. yes they can survive on her income but if they get the duplex they will be able to save way more money sometimes you have to make sacrifices

[@JustATotalNerd]

He didn't say not to, just to be patient and build some stability before throwing more changes into their lives. Pretty smart advice, actually. Letting her husband pursue his new career for a year and get used to it is more realistic. If he's constantly busy with stuff outside work, he will lose focus on his job.

[@patde1264]

But that duplex offer will be Gone soon !

[@jermainerace4156]

@Pat De So what? There are houses everywhere. If this one sells, there will be another. Don't fall for the realtors hype.

[@ducksinarow1005]

Dave is always wrong when it comes to any type of buying real estate period

[@mitchcomedy2112]

ducksinarow 100 if he is always wrong then I don’t want to know what’s right cus he has made millions buy real estate

[@ernestmulligan8550]

There’s a difference between giving good advice and bashing someone for trying sacrifice and take risk to better their situation. I think Dave trying get his ratings up. My wife and I could live duplex with couple next door and be completely comfortable with it. After all I would be landlord and could decide if they were good fit.

[@ducksinarow1005]

Oh I see. Ratings ha? Makes sense. If I went with Dave's real estate principles I would have never bought real estate.

[@w8stral]

Exactly. It is not an apartment complex where it is first come first serve for low cost housing. This is a house. Start with, demand a credit check. This weeds out 90% of the bums.

[@Mikemakaza1109]

What's wrong with people who have ambitions to increase their income? Why does he encourage people to be average? If you want to be successful, don't be average, and take risks sometimes.

[@TheVanPoint]

He's saying don't put the cart before the horse. Everything looks good in idea and planing....but people fail to execute sometimes because they either do to much...or just get ahead of themselves. Buying a duplex in 4 years may seem like a long time....but if you think about owning the duplex for 30 years.....then those 4 years don't seem that long at all...thats what he's trying to convey...not to stay average. Just hedge your risk if you can.

[@RomeoWhisky06]

That's not statistics work

[@RomeoWhisky06]

Dark Magician average is a number expressing the central or typical value in a set of data. By definition 50 percent of people are avg. Also what does Bernie have to do with anything, I'd never vote for him. Way to get political on something that isn't

[@RomeoWhisky06]

Dark Magician you wouldn't call them outliers on the curve?

[@RomeoWhisky06]

Dark Magician so you really don't know stats haha.

[@WookieSenshi]

So $70k plus $8k each quarter of a year? So around $100k? And she's worried it won't be enough for a family of three? lol

[@Jhorne84]

living outside their means.. my 50k a year is plentiful enough for my family of 4

[@WookieSenshi]

Sgt 0811 Exactly! If I made $100k a year I'd be retired in 5 years tops.

[@HonestOK2930]

My wife and I lived happily our first year of marriage with 38k before taxes. We currently earn 52k after tax and are paying 58% of our income to debt (following the baby steps). Drives me crazy when people make near 100k and complain. I know it's all relative, but still.

[@WookieSenshi]

Jared Schwyhart I know right? It's ridiculous.

[@JadeCampbell40]

Jared S I agree 😬😐

[@EricKotter]

I don't think he was saying to never get a duplex. I think he was just saying in the short term, since they were just about to get married and they had just had a baby, that they shouldn't worry about the hassel of buying a rental property for the time being, or wait till things were a little more settled. It's a plan that feels much calmer to me if I was in their shoes. The husband was also just starting a new career. But in the future I don't think he was opposed to them buying a duplex. It was more about a timing issue. I personally would not want to live next door to my renters. That has the potential to be very awkward and problematic in certain situations.

[@schematics1]

Eric award how and for who? Parents own three multi families and thankfully bough over 25 years ago and got the properties for very good prices. Rents have sky rocketed and they fortunately owe no mortgages accept for one that went to home upgrades and live in one of the homes with two other tenants. They are doing way better than most Americans. Remember anything worth having, is worth fighting for. So a little or a lot of awkwardness is just a temporary thing for long term gains. Just saying

[@schematics1]

Oh and one last thing. Rule number one of law lord/ tenant. You have to observe your properties, because there are horror stories where as a landlord you were lax and than your place is being torn apart.

[@annav21]

The way he crushed her confidence in her amazing stock purchase lol 😆🤣🤣🤣🤣🤣

[@datviking]

I have a hard time agreeing with Dave sometimes. I feel what he says to do is for people with bad self control and or unwise.

[@SuperOkfine]

It is for those people, and his advice isn't even the best advice for those people sometimes.

[@nocoolname32]

nailed it. if you have no self control and need someone to tell you what to do he's great. if you need a few pointers but also have ambition for business, it's easy to outgrow him

[@wmurray003]

He takes NO risk... it's like he wants you to build wealth without investing...just put away all your money, don't travel, don't get a car... just save save save baby!

[@BlueFinch]

well, those happen to be most of the people that call in for his advice, so maybe he is answering the person who called as well as the people who are listening.

[@ERIN_198]

SuperOkfine you have no idea what you're talking about

[@joiab11]

what kind of people can't live on 100k a year? seriously! I feel sorry for her husband, she really stressed me out.

[@bfolds1494]

As a landlord, living next door to a tenent sounds like a nightmare

[@w8stral]

That is why you screen your tenants and do not just pick the first one in the door(irregardless of the law). I would think differently if this was an apartment complex(first come first serve and low cost). It is not. This is a house.

[@Heyemeyohsts]

Will Dave ever call out women’s tendency to initiate divorce, creating much of the financial ruin? Nah, he will blame men like everyone else

[@Recabilly]

I am a landlord living next door to two tenants. I have a triplex and it sucks. First off, we share a washer and dryer so we have to work around each other. Second, if something breaks they come knocking on the door and they KNOW I'm home so they expect me to fix it right away.

[@w8stral]

@@Recabilly Shared spaces = DUMB. As for maintenance: it is called PREVENTIVE maintenance. Stop costing yourself money by being "cheap" AKA expensive. Far cheaper to go through all the plumbing and redo everything at once than doing it piecemeal. Never have to touch the plumbing for 10 years. Same goes for all outlets/switches. As for lightbulbs, put in contract, renter is responsible for them and MUST be the same bulb replacement. Garage door? Grease it once a year. Same is true of EVERY door handle. Do it once and will be good for at least a decade if not forever. Have 2 hot water tanks etc. I have NEVER had my neighbor rentors come knocking on my door because something was broken. Have had plenty of meals with them though. Stop being cheap. It makes your life VERY expensive in angst.

[@Recabilly]

@@w8stral We completely redid the restroom because they broke the sink and they shoved stuff under the sink so they broke the pipes as well. We decided to fix up the entire bathroom with new stuff because of this reason, we don't want to fix things every other week. We told them not to put anything under the sink, we even made the doors hard to open to discourage them from putting stuff down there. They broke the sink again just a couple weeks later. I am so done with these renters but guess what? They are my wife's family... We are kicking them out this December, giving their notice soon. We need to do screening, really find the right people to live here. We do have two water heaters, plumbing was a disaster because one of their kids put a baseball in one of the pipes! Cost $2k just to get that ball out cause nobody knew what the problem was so they had to tear up the concrete and find the problem.

[@TheSoloAsylum]

Buy the duplex. Rental property is the best thing I have ever done in my life. Anyone telling you no to income property, stop listening to them. Your 401K is a joke...

[@TheSoloAsylum]

@@HiiiGHLIFE1 If you are going to live there it is not an "investment" property and therefor does not require 25% down. However, put down as much as you can as your income profits will be more (every month).You can do a standard mortgage and your $15K down should be plenty. Start with calling your bank, they want your mortgage to be with them so they will have several types of loans for you. Build a relationship with your bank, they will be quick to help on your next adventure.

[@LegendaryWoke]

Whoever married her... "good luck."

[@kaohsiung99]

@Damon Wayans She's a pharmaceutical sales rep......

[@Sara-wv3ms]

PHX2PDX if she’s bumming off her husband bad, if she’s thinking up ideas and contributing now she’s running the show and bad. When do you appreciate a woman

[@erik5354]

What a beta!!!

[@atlantacabil]

What she didn't say is " we have a nanny so that I can go do all these projects".

[@antoniochiappetta4833]

I own 2 duplexes, better than the stock market ever was for me. My only regret is I only started owning them 4 and 2 years ago.

[@Vera-dg3hf]

let them sit there. accumulate equity enough where you can buy a new property CASH!!!! and thats how you do it!! but then again the banks will own them forever.

[@ronynikke]

I wana buy a multi family any tips?

[@cocas1080]

@@Vera-dg3hfyou must be broke cause that is not what you do. Never use your own money.

[@HutchysLIVE]

What do u think about buying a duplex and putting a mobile home for yourself to live in it and rent both sides of duplex

[@abriyahyasha-rahla2656]

@@HutchysLIVEthat could work.

[@jeremygates51]

Making under 119k in the bay area is considered poverty

[@nabilkhoury6134]

Facts

[@micchaelsanders6286]

So move to Texas. Get out of these liberal communist states.

[@michaelbrown1627]

Dave is a credit counselor. Never was a financial planner.

[@JesseGMan7]

You find out most “gurus” of anything have one specialty and usually are not capable of helping most people, just a select few that fit they’re specific niche. Which leads to misdirect of many, and swaying or demotivating some off a good path. Always trust yourself and do your own research and critical thinking to capitalize on calculated risks. For example: Someone might tell you slow down cuz that’s their mood and they’re overwhelmed, but it might be a period in your life where you got tons of momentum, energy, and enthusiasm and that fire is gonna launch you far ahead quick.

[@The_Bronze_Spoon_Investor]

"The good news is your renter is next door. The bad news is your renter is next door." Hahah well said Dave! That was such honest advice right off the bat in the first couple of minutes. I completely agree. Enough 'New' is enough. Take a chill pill Stacy.

[@Officialerikledezma]

The one thing that I'm not a fan of, as far as Dave goes, he encourages people to be average, & slow down? If you want to be successful you have to take risks & have no self doubt. Nothing wrong with being motivated & having ambitious goals ❤️

[@imad910]

Ledezma Finance while that is true, the majority of the people that seek Dave’s help are in bad financial situations, so Dave’s advise to those people is to take it slow and steady until you get out of debt.

[@brittsmith8260]

We have an converted garage efficiency, charge 700 , which leaves our mortgage at 350, works well for us.

[@ducksinarow1005]

Britt Smith, same here. Get $1400 a month.

[@missdesireindependance5194]

Sounds good

[@Sinbadness]

That’s actually illegal Lolol

[@sofaking1611]

@@Sinbadness how?

[@dj1980101]

Not every ESPP is created equal. The callers comes with a “look back” feature on top of the %15 discount. It’s a far superior plan.

[@kid-citychilddevelopmentce5744]

Start watching bigger pockets, it's right for you.

[@NotShowingOff]

Kid-City Child Development Center I listen to the podcast. It’s a good way to understand the reality. Something tells me they do.

[@jayday2273]

I really value Dave Ramsey but it seems like every time I hear his show, and this caller defiantly triggered this, there are multiple callers phoning in who make 80-120k, have only their home mortgage as debt, get a 500k inheritance and feel compelled to call in and ask if they should pay off their 200k mortgage.

[@JustATotalNerd]

and it's almost always women

[@HermannTheGreat]

Its bragging

[@lise4369]

HermannTheGreat yes, sounds like it with the laughing and hyper speech.

[@stennishampton6534]

Yeah, that is my opinion, Dave doesn't get that he is being Trolled.

[@changsaefong]

After being a financial advisor for the last 9 years. I have seen a lot people inheriting hundreds of thousands of dollars. Millenials are set to inherit over 30 trillion over the next 30 years

[@willyjoerockhead]

I once lived on the first floor of a Milwaukee Duplex. (upper and lower apartment) it was a nightmare with a family living above me. Hardwood floors...it's sounded like constant hammering in the floor. They should have never built those to begin with.

[@willyjoerockhead]

They need to change all those Duplex (upper and lower) in Milwaukee to single family houses.

[@ducksinarow1005]

Or side by side

[@SuperOkfine]

Buying a duplex would be an excellent way to reduce financial stress while giving the under-employed partner a good introduction to real estate. Many real estate agents will also advertise lease properties and need to be familiar with rental units and property management to be able to advise clients about options. This sounds like a great solution for this family that will help them adjust to the changes. The advice from Dave Ramsey here is so astoundingly bad, it is unbelievable.

[@alexgrinage681]

SuperOkfine what happens when they don't pay rent? and how long till you get the renter? and what if you get a bad renter the more they can bug you? they make enough they just need to manage there money

[@aidensmith6277]

alex grinage Kick em' out. Bnb the place until someone comes so you can make money while vacant. Kick em' out. Do you not know how capitalism works?

[@arqgape]

SuperOkfine Tax credits for owner occupied income producer property is appealing

[@BlackMenAreDope]

SuperOkfine you missed his point. He doesn’t think the concept is bad. He just thinks the timing is wrong for them. Newly married, new baby, new new new new......they don’t need tenant issues next door when they are trying to establish themselves as a family. As long as they make good choices, the duplex opportunity will always be around.

[@lise4369]

justin hill yes, 💯% what Dave was saying. Some people definitely miss the main and most important point.

[@thuan123red]

$70,000.00 and $8000 bonus and you can't live on that! Yes duplex is a good plan but man you need a budget

[@jayc4715]

Buy duplex but rent both sides

[@shawnsnow6413]

Exactly

[@prodigyam5078]

jay c but..... where would I live 😫😂

[@jayc4715]

@@prodigyam5078 rent a home away from your rental..something thats even cheaper

[@andersonandrew112]

Better yet get 4 units or more

[@tylergable2445]

jay c and where does one get all this money?? 😂

[@mikeallen8724]

taking some risk is necessary. once you have good equity you can buy again and again when you have good equity. dont over expose yourself and retire early. thats what i did. these people wont be retiring early with this advice.

[@ducksinarow1005]

That's what I did too. I have 8 tenants and no longer have to work a job. I do take care of my houses though. Cleaning in bettween tenants, finding tenants, fix things that go wrong, etc. Easy work if you want to call it that. My tenants usually stay for years.

[@christopherpeery8968]

Sometimes I feel like people call in just to show off and get a pat on the back from Dave. Also, whats up with everyone posting all their financial information in the comment section?

[@money0436]

Christopher Peery no its not about showing off riches continously trying to think of ways of creating money. Poor doesnt care.

[@Requiescat_in_pace]

My Grandparents lived through the depression. Came from Italy, English 2nd language, and both Grandmothers stayed home to raise children. No day care! My Mother did the same. No day care! What good is $$$ if strangers are raising your children? Shame!

[@RKmndo]

Your kid gets to socialize with other kids and a teacher figure from a young age.

[@stefaniedoloreux1044]

The mute action was violent.

[@The_Cyber_Nomad]

Buy the duplex, and house hack it.

[@deepatterson1835]

Jeremey Allen The way Ramsey thinks is the slow way to wealth. I notice every time somebody talks about real estate investing, he says no almost every time.

[@KingJamesVL]

Jeremey Allen Agrees. House hack this thing. I think you can even get into these things with 0 money down. If the situation is applicable then its a no brainer.

[@ducksinarow1005]

Dee Patterson, I noticed the same. Wonder why

[@ducksinarow1005]

If I took any of Dave's advice that he gives these people who call, I would have never bought real estate. And today I'm making good money and no longer have to work a 9-5 job

[@JustinFromMD]

Because real estate is very valuable when levered using Return on Equity. If you pay cash for a house ROE drops. But buying a house letting someone else pay the mortgage and then selling has a lot of value. Dave isn’t really intended for those who aren’t financially troubled.

[@TheTez1990]

How can you not survive off of 100k a year??? Sounds to me like someone has their nose in the air and can't live within their means. Me and my wife live off of 67k more than comfortably.

[@jcrowley1985]

Exacly, I make 35k, own a house and still have plenty of disposable income. I would live like a king on 100k a year.

[@marcushines4172]

Sounds like you don’t live in New York City, or the Bay Area. Besides, what’s comfortable to you, may be the proverbial poorhouse to some. Judging off the call it sounds like these people have their finances together. The world is a funny place.

[@dougk5]

I can't imagine living comfortably on 67 k for two..that's just under 34 k per person

[@jaysant6958]

TheTez1990 I live in L.A. county and make 50k and live comfortably with enough to fully maximize my Roth IRA every year. Just saying.

[@ggo7274]

I build, own, and sell duplexes in Houston. Not sure how her market compares but telling her not to buy and live in the duplex because she’s newly married didn’t make sense to me. When you’re young starting out that’s the best time to take chances.

[@alyshiacheavious7376]

He was telling them to slow down because they are adjusting to alot of new situations. And to get on a budget because she seems to not be able to budget well if she doesn't feel they can live on their current budget. I'm sure 6 months to a year later they would be mentally and emotionally ready to get a new house and deal with a tenant. It's not always about if you have the money,sometime you can stretch yourself too thin n become overwhelm and mess stuff up. It's better to become accustomed to being newlyweds and parents first then tackle other things .

[@mammothorbust]

0:38 - Dave's eyebrows haha

[@chiz79]

Just love when people's careers are more important than their kids. Tons of studies showing the psychological devastation of having a child in daycare over 20 hours a week. We can remodel a house, we can move, we can get into real estate, but it's just too much work to do one iota of research into how these decisions WILL affect our children. I find people like this revolting.

[@ducksinarow1005]

Agreed. You couldn't have paid us to put our kids in daycare. At best, the kid is ignored throughout the day. And those people can't love your kid like you.

[@rossmiller5736]

They can live on her income, but why not live in the duplex and get their mortgage paid for? Because their renter is next door? Who cares?

[@solo.life.travels7215]

Exactly! Tons of ppl get started this way into real estate

[@Lee-qm3on]

That’s fine buying a duplex and having you renters live next door if you don’t care. I guess the question is, if your tenant doesn’t pay, can you make the whole mortgage payment with 25% of your take home income? And the downside of getting ready to sell your duplex is that the typical buyer of a duplex is an investor and not an Owner buyer occupier, and they have the tendency of to buy whole sale v retail sale

[@khaaliqlamb7022]

They could do it and get a property manager. With a new marriage baby new job I would not try to manage the property themselves it is very time consuming.

[@76482]

Dave shut down her brag effort with quickness and class👏

[@loafandjug321]

Doesn't matter. They're getting married because of a 7 month old, which is code for divorce. Odds are she has all the money because most stock traders are broke which is why the guy is switching to real estate. She should take her money and run.

[@marcmontalvo787]

A hearty chuckle out of dave, thats rare

[@micchaelsanders6286]

I disagree with Dave. Duplex's are the way to go. Just screen your tenants well.

[@joshmnky]

Telling these people to chill out is bad advice. A busy body is either busy or depressed.

[@southerngirlsociety]

These are the people who frustrate those of us who are truly struggling. Are you seriously telling me this girl make $78,000 a year, plus bonsues, and she doesn't think she can live on her own income?!? I hope she didn't wait on the phone line too long to brag about all her success in life. What a crock.

[@patasaurusrex2492]

73k and you cant afford child care!? Dude! These people are spazes.

[@shawnsnow6413]

don't forget 8k in quarterly bonuses and no debt.

[@mission51able]

you have to take into consideration inflation. the 73k is not worth the same n the following year and thats where the problem is.

[@WhatTheHe11isTHAT]

Stacey, please give us your life story. GO!

[@anthonyrodgers488]

She seems like she wants to live above her means. There’s people who make 55k a year in her situation doing just fine. Budget like he said, save then buy the duplex. Give hubby time to get his feet wet in new job

[@Monarch816]

She's worried about income even though she has $400,000 in "assets"? Does she understand assets? These should already be generating her income as is. I have clients generating 60-80,000/annually with less than $400,000. She said her husband made money from the stock market, why would he stop? He isn't making enough to generate the same amount of income as him becoming a real estate agent? Why not purchase the duplex regardless if you live in it or not? The whole idea is to purchase income generating assets, if it doesn't.. it isn't an asset. $400,000 a year worth of assets generating income + a job should be more than enough to live on, if it isn't than you are living far too extravagantly.

[@Mikeevansrealestate]

good point there

[@Monarch816]

Carol T. Nope, probably 90% of my trades happen with the SPX/SPY, which are what people that invest conservatively use.

[@LoganAllec]

How the heck are you making 20% off of SPY, year after year (that's the key)?

[@mrpinkpony]

Where are they making 60-80k off 400k?

[@sasyaharry4046]

Her house is her biggest asset right now. You can’t make money with that.

[@stephon972]

did anyone else notice that the words on the screen chanded at 1:36 to 1:40 from should I but my duplex to should I buy a duplex lol

[@dubyap9692]

Your comment about typos has a typo.

[@stephon972]

yes thats the beauty in it

[@ementormike]

Life With Steph Explain how a typo is beautiful to you? To me a typo is a mistake and a mistake is not beautiful and making a similar mistake, in replying to a mistake, is additionally worse and even more problematic, in my opinion. I think mistakes are not beautiful and there is no beauty in making a mistake; while commenting on a mistake; which I think is a usual and normal and reasonable and understandable reaction or response to such a situation. If your comment is genuine; then you appear to have a very different and opposite mindset and perspective on mistakes and I would be sincerely interested in how you come to that way of thinking or perspective?

[@DK-ub5ph]

ementormike Your comment is rife with the misuse of the semicolon.

[@ERIN_198]

D K hear hear

[@nasheikajohnson5581]

There’s actually people living off 73k saying they can’t afford to live off that ? .... and here I am making more than less than half of that ....................................... I - am .............

[@Eaglejake]

And the Oscar for the most painful call in 2020 goes to this caller. My ears are bleeding.

[@yayyareaa2997]

His face when she said he traded stocks 😂

[@view13s8]

why not keep the house and just get a duplex too, rent out those both sides and you'll get about $1000 a month on profit. ride that out and in 3-5 years buy another duplex. and keep going. once you hit 16 units you never have to work your day job.

[@lissyb3314]

Dave me knowing his stuff 😂😂☝️☝️☝️👍🏼👍🏼👍🏼 he said no you don’t, it’s 15% off 😂😂😂

[@austinhoffman4900]

Dave was wrong on a couple of points here

[@w8stral]

Yes. Buy the duplex. Do the work yourself.

[@samstewart3262]

The dismissal of the ESPP was silly. Don’t put everything you own it obviously but don’t miss out on free money when it comes along.

[@bettysmith7045]

You have to be so careful when you have children, you never know who is moving in next door in a duplex, too risky!

[@SebastianRodriguez-px1wv]

If you are renting your duplex out, you should know who is moving next door. As for the child being at risk, I don't understand how. You should always watch your child, and to be sure, don't allow them to go to the neighbors.

[@lindaleelaw5277]

I'm a life long renter , AND I WOULD NEVER LIVE NEXT TO MY LANDLORD . NEVER!

[@khaaliqlamb7022]

Why not 😂? I live next tenants I wonder how they feel.

[@lindaleelaw5277]

KHAALIQ LAMB. I wonder, as well. I prefer my life be mine and judgement free by a person who might personally disagree with me. And who holds that sacred lease over my head.

[@michaelbrown1627]

Lindalee Law and they probably wouldn’t want to live next to you.

[@SebastianRodriguez-px1wv]

I get the feeling that you are over 50

[@thecatnextdoor12]

I hate landlords having keys to my apartment. Also coming in constantly to repair something. I wish one day I can buy a house and be the only person with the keys to my own home.

[@RyanGiffin]

Dave gives the worst financial advice sometimes

[@nsorrentino5]

Dave doesn't like ESPP? It's free money

[@Tyscrat]

This is a good example of someone who has never struggled a day in their life you can tell she came from a rich family

[@nikkineal6431]

She's already on to a great start with savings and investing. This will be a great learning curve for her to figure out how to live off just her income. That way they can potentially save more in the future and they're safe if he loses his job.

[@zabrinadivine9689]

I love is guy.❤ he has so much wisdom. What a God sent 🙌🏽

[@David-mw6vy]

Dave, your know how to bust someones bubble.

[@w8stral]

In this case, Dave's an idiot. Most people can walk and chew bubble gum at the same time.

[@Joel-ew1zm]

Can you live off that income? Absolutely Do you WANT to live off that income? Depends on how much you value your "latest and greatest + dining out" lifestyle

[@zaggin]

My last company had a 2 year lock on the lowest price of the ESPP purchase. Not such a great deal on a down market, but we made a killing when the stock went up.

[@MoonLiteNite]

how could anyone say ESPP is bad.... the odds of it going down 15% on the low end of the buy date within the first min of the bell is very very unlikely... basically by stopping espp you are trashing at least 15% returns.

[@mathgasm8484]

I buy individual stocks so thats the part that I disagree with Dave. You could just max the ESSP and sell as soon as you get it awarded.

[@2awesome292]

+Mathgasm yea it's just +15% pay lol

[@user-mj6bs6gr5p]

Christopher Banacka said he

[@alanmjohnson]

Yeah, it's as close as you're going to get to an arbitrage situation.

[@sandyxloredo]

I bet that girl lived a very privileged comfy life and never had to budget or worry about money so this advice Dave

[@money0436]

Dave is wrong Newly married can live in a duplex what is wrong with that?

[@l-train7876]

SEXY유남생TV too much newness for a new marriage: new baby, new job for the husband, new city for him. I understand what he’s saying.

[@TRAVELSOUTHAFRICA777]

Dave is not a professional. He's a radio host

[@money0436]

@@l-train7876 well you have a good point.

[@r.brooks5287]

This woman is not in debt, that's why Dave recommended the softer slower way forward. No need to add to the stress of new baby, new husband, new job (for him) when there's no clock ticking adding interest by the second.

[@MrSemwen11]

Typical sales rep mentality. Poor husband

[@HumanStateOfEmergency]

She's not willing to sacrifice.

[@franksanchez9355]

I'm actually saving enough for a big down payment on duplex I want to rent both sides and cash flow enough to pay my basic needs rent electric water etc. i understand though when you make 100k a year your lifestyle becomes more expensive and 100k a year isn't so much money. if they just downgraded and saved more they can buy a few duplexes and then they both won't have to work and could do whatever they want

[@Norm475]

I was in pharmaceutical sales and I was making over 70K a year 21 years ago.

[@HeisenBerg255]

People who shack up and pretend to be married are annoying.

[@e2sguy]

Bad advise ...sadly Dave thinks it’s 1971 still . He doesn’t understand what house-hacking is or what it can do for your net worth . He’d rather the woman live in a house paying on a liability instead of owning an appreciating a proven asset .100 k not enough ? Man he thinks you need a quarter million dollars a year income to survive . he’d rather her to be saving up every extra penny and buying risky mutual funds each week till she is 90 running on embalming fluid ....then she can enjoy the good life ! In all fair ness He has good advise for the average joe six pack idiot living above his means but to anybody expecting more out of life his advise is outdated and out of touch with today’s investing and banking environment . It’s not 1999 its a different game now with hyper inflation and currency manipulation and Dave’s advise falls short

[@ducksinarow1005]

You are right. Real estate is the best investment in my opinion. You need a place to live anyway. Rent a room or two out for extra money if need be.

[@254jada]

15 % off. I don’t believe in 401K, SS etc, those programs are a bait . Millionaires and entrepreneurs don’t put their eggs in these baskets. If you plan to be wealthy get off that mindset of 401k .

[@tree3po]

What a terrible situation ... lol. You're fine, especially in freaking Milwaukee. you're pretty rich .

[@fredrockrodriquez2241]

What if I want more than just a safe budget, how would I develop wealth?

[@savemoney4058]

If I'm her husband (to be) I would make sure I have a private rainy day fund (she knows nothing about).Half of marriages end in divorce buddy boy.

[@SuperOkfine]

Is that what stay at home moms should do too?

[@savemoney4058]

stay home moms are already doing that. They have rainy day funds called LAWYERS! You understand the program superokfine?

[@UnlikelyWisdom]

Save Money actually the statistic is about 25%

[@eliubfj]

It is over 50%, Save Money you are right on the money!

[@savemoney4058]

To Jesus OrtizOver 50%???... That's a dame shame...

[@tomaschazarreta1263]

Why does he think stocks are a bad investment. He got rich through real estate and writing books. Not through trading stocks, he shouldn't get into that

[@TobyAnalytics]

I love Dave. The dad I wish i had

[@kenpca]

Maybe Buy a foreclosed duplex with cash....rent out both sides or air bnb it :)

[@chrisbaker2669]

I dont get why you would stop the employee stock purchase program getting a 15% discount cant you keep sell the stock and profit the difference?

[@James-yi1vk]

If you could do it that easily then everyone would buy then immediately sell the stock. But a lot of companies have it setup so you have to hold fir a certain amount of time.

[@sallycha7952]

Best advice!

[@DeltaWrath]

OMFG to everyone that is bashing Dave on this one, you are missing the point here. 1st He clearly understands that this girl is an airhead and is leaving in la la land, is spending a great deal of her income to keep up with the Joneses and that is why she sounds so snotty. 2nd Engaged to a guy yet to be married and this is an important part right here - how long will they STAY married??? Any guy with two brain cells to rub together will file for divorce in the first 5 years. DON'T be the sucker that puts a ring on this girls finger because it will cost you in the long run.

[@Dbf1339]

He was kinda keeping her back and she was boastful scoffing.

[@The_Cyber_Nomad]

Be gazelle intense, just not this time.

[@jessicaolson490]

Gazelle intense is only for while you are in debt. The hungry cheetah is the debt. No debt, no cheetah, you get to relax a bit.

[@ducksinarow1005]

BUY THE DUPLEX

[@jacobmoreno6339]

"In order to get the ground running" -Stacy

[@Tallshipdreamer]

73K and She CAN"T live on it? I have done it with 1/2 that ans a MORTGAGE....course that was before Dave, Now I don't have a mortgage.

[@rauliciii]

I don't get why Dave is skeptical of people who what to move faster than his plan. They just want to move in a different, more aggressive manner. For example, I save 50% o my income cuz' I'm done being broke. I can't spend more money on myself. I'm done. He's saying that's too much but 15% doesn't work for me in this particular period of my single life. This lady wants go move faster. She's passionate about it but he's not feeling it. He's skeptical.

[@Ramijay90]

Real estate is a very smart investment. Dave just didn’t know what he was doing at the time so he is against anything real estate. Dave encourages people to stay average. If you research most millionaires they all started at real estate. And always remember listeners. This is Dave opinion not facts.