How To Get Started In Real Estate

💵 Start eliminating debt for free with EveryDollar - ter.li/3w6nto
📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or send us a message - www.ramseysolu...
Next Steps:
📈 Are you on track with the Baby Steps? Get a Free Personalized Plan - ter.li/5h1r0i
📱Download your free Ramsey Network app today! - ter.li/cvqzyb
Explore More Shows from Ramsey Network:
🎙️ The Ramsey Show ⮕ ter.li/rqwdws
🍸 Smart Money Happy Hour ⮕ ter.li/tmj3vq
🧠 The Dr. John Delony Show ⮕ ter.li/s5yazz
💰 George Kamel ⮕ ter.li/dc2gee
💡 The Rachel Cruze Show ⮕ ter.li/a6emrr
🪑 Front Row Seat with Ken Coleman ⮕ ter.li/iwafu6
📈EntrLeadership ⮕ ter.li/g7s9g0
Ramsey Solutions Privacy Policy
www.ramseysolu...
Product Links:
Total Money Makeover: store.ramseyso...
Questions for Humans: Couples store.ramseyso...
New! 2025 Ramsey Goal Planner: store.ramseyso...
EveryDollar Premium Version Physical Gift Card: store.ramseyso...
Baby Steps Millionaires: store.ramseyso...
Building a Non-Anxious Life store.ramseyso...
New! Breaking Free From Broke store.ramseyso...
New! Get Clear Career Assessment: Find the Work You’re Wired to Do store.ramseyso...
Know Yourself, Know Your Money store.ramseyso...

[@LuisaSantos-q7x]

That's a solid amount to get started with. The first thing that comes to mind is either putting it toward a down payment on a rental property or looking into real estate investment trusts. A rental property can give you consistent cash flow, but REITs are more hands-off

[@PatrickAlfonso-y4f]

with $50k, you could easily make a 20% down payment on a property worth around $250k. If you go the rental route, you could generate passive income every month, and over time, the property could appreciate in value

[@susan-i8v5i]

REITs are definitely an option if you don't want the hassle of being a landlord. You can invest in them like you would stocks, and they pay dividends. Plus, they're diversified across different types of real estate, residential, commercial, etc. It's a good way to dip your toes into real estate without managing tenants or repairs

[@JohnClinton-g2p]

I've been thinking about rentals, but the whole idea of managing tenants kind of worries me. And what if the property market dips after I buy? I know it's long term, but that's still a lot of money

[@catrin-e3g]

Rental properties can be more work than people realize finding tenants, dealing with maintenance, unexpected repairs. But if you're strategic, you can find a good property manager to handle all of that for you. Just factor in those costs when you're running the numbers

[@TerriLynnClark-b8d]

Honestly, that's why it's important to run a detailed cash flow analysis before you commit. You don't want to get stuck with a property that's bleeding money. But when done right, rentals can be an incredible wealth building tool

[@MaximilianFischer497]

I believe people need to Invest in Real estate, get more into stocks and the foreign exchange market, I’ve seen and read how profitable some traders are, making millions, it’s incredible and astonishing, I know there’re no shortcuts. Whether or not real estate is a suitable investment for you depends on your individual financial goals and risk tolerance.

[@TicheDebb0]

Real facts, the fin market might be broad and complicated, but if you do know what you’re doing, the real estate can also be very rewarding,.

[@EvelynBrooks0]

It can also be very bad, I lost a lot trying it all by myself stock picking and selection and my portfolio on red, about nighteen months ago I got with A professional FA, I’ve now seen my $190k startup close to 2million in dividends. Without doubt professionalism is unmatched.

[@RowanBryson]

That’s a good amount for that time frame, can you say on who your adviser if you don’t mind.

[@EvelynBrooks0]

I've stuck with the popularly “Diana Casteel Lynch” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look her up.

[@henryallard245]

I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.

[@caseybills5517]

I appreciate your commitment to guiding others toward financial success. We all strive for security and a better quality of life, and this can be achieved through smart investments, mindful spending, and effective budgeting. I'm thankful I discovered the value of hard work and financial independence early on in my journey.

[@TylerJamestown]

Even though I engage in investing, I feel disheartened by my lack of expertise in assessing the performance of individual companies and determining the optimal timing for stock purchases. The erosion of my financial reserves due to inflation adds to my concerns. At this point, I require precise market trajectory information, but I find myself unsure about the appropriate course of action.

[@StacieBMui]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@StocksWolf752]

Mind if I ask you to recommend this particular coach you using their service?

[@StacieBMui]

Rebecca Nassar Dunne maintains an online presence that can be easily found through a simple search of her name on the internet.

[@lolitashaniel2342]

I searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you

[@WillMotivation]

Investing in Real estate has changed my life dramatically. I highly recommend people consider owning real estate as a part of their investment portfolio.

[@letsgotomarsman]

Will Motivation wish I could

[@sha_la007]

I am planning to buy this year, however, I want to take my time. The market in NC especially Charlotte is so competitive. I am looking outside of this area.

[@keyroncampbell]

@@sha_la007 look into the smaller areas...

[@sha_la007]

@@keyroncampbell thanks! I have been. Places are going so fast and they are also over priced.

[@sha_la007]

@@keyroncampbell thanks you so much for the advice!

[@AnnieHolsen]

I think it's time to make my property more attractive to potential buyers. The real estate market has been challenging lately, and I'm feeling stressed and uncertain. I'm considering lowering the rent to attract renters and eventually sell the property. However, I'm unsure about how to allocate the $680,000 I'll receive. Should I invest it all in the stock market

[@bartlyAD]

"Overall, buyers hold a lot of the cards right now, and sellers are having to give out more concessions to close a deal." All the best, buying on sale is actually one of the best ways to invest in stocks, and advisors are ideally suited for such task

[@PennyBergeron-os4ch]

Until the Fed clamps down even further I think we're going to see hysteria due to rampant inflation. If you are in cross roads or need sincere advise on the best moves to take now with financial markets will be best you seek a fin-professional with fiduciary responsibilities who knows about mortgage-backed securities for proper guidance.

[@HildaBennet]

this sounds considerable! think you know any advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@PennyBergeron-os4ch]

She’s Rebecca Noblett Roberts, and do your own research. She has portfolio management down to a science

[@HildaBennet]

Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.

[@miguelpoky2]

A phenomenal tip I have is to improve your people skills. Learn about salesmanship, reading people, personality types, body language, how to effectively communicate, how to win people to your way of thinking, you can have all the real estate knowledge in the world but, if you can't actually communicate effectively with people than it will be a lot harder. A lot of real estate isn't about the houses it's about the people dealing with them. The more you learn the more you earn.

[@felipenaran4152]

Good tip. Thanks!

[@detailedemoji4615]

Is that a Jim Kwik quote?

[@iliveinsideyourhouse3943]

Ok imma reading how to friends right now

[@thomasharryq]

just sold a property in Portland and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains with months, I'm really just confused at this point.

[@MilkovichT.Sandlers]

Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge

[@MarcelMcGowan]

Very true, despite having no prior lnvesting knowledge, I started lnvesting before the pandemic and pulled in a profit of approximately 950k that same year, In reality, all I was doing was getting professional advice.

[@adelineChulack]

How can I participate in this? I sincerely aspire to establish a secure financial future and I am eager to participate. Who is the driving force behind your success?

[@MarcelMcGowan]

I'd say a little due diligence on "Dianne Sarah Olson" truly exceptional...

[@RosadorcasSladeWiggins]

Thanks for sharing. I curiously searched for her full name and her website popped up after scrolling a bit. I looked through her credentials and did my due diligence before contacting her. Once again many thanks

[@sorenv98]

I am 14 years old and I just got hooked on real estate! Trying to educate myself and start early✊🏼

[@MBATheGreat]

Same

[@MBATheGreat]

It sucks you have to be 18 😢

[@rileyredli8787]

@@MBATheGreat save ur money and when ur 18 it will make the process easier

[@fnluxks1388]

Wait do you have to go to college to get into real estate ??

[@MBATheGreat]

@@fnluxks1388 No

[@ienjoyapples]

I wonder what it's like having Dave as your landlord.

[@dillonh321]

He will tell you how to budget your money every bill sent to renters.

[@dlnoir5960]

@@dillonh321 why would he do that? They'd just take the advice and buy a house and now Dave needs new tenant

[@jaye9300]

His son-in-law manages his rentals. I highly doubt any of his tenants have any direct contact with Dave. Dave’s got his hands full helping change America‘s finances with Ramsey solutions.

[@axxxingforanswers4648]

@Jumbo Palumbo OF course he is...he doesn't TAKE EXCUSES!!!... Dave; "I'm here to get the rent check....it's now past due...." Tenant": " But Um.....I don't um have it...um...My other bills....UM....my car payment...Um....." Tenant is clutching the latest I-Phone with data plan, a leased luxury car in the driveway, Satellite dish on the roof..... Dave: "I'm here to post a three day notice......better start packing or...call the Wahm-bulance!!!!!"

[@blakejensen2052]

ienjoyapples He isn’t a landlord technically. He pays a management company to do all the dirty work

[@rachellawrence702]

I love how helpful Dave is! Not everyone would break it down like this!!

[@phazon100]

Rachel Lawrence Rich Dad is way better

[@johnclancy3998]

I make over 10 000 USD each month thanks to FRO ZEN PA.C OM

[@purplepurposee]

Yeah fr . Cuz everyone else are losers fr lol

[@purplepurposee]

Others only see money not a helping hand ✋🏽

[@paulywang]

@@phazon100 Rich Dad? Way better? Where's his company now?

[@CharlotteNoah3]

Investments are the roots of financial security; the deeper they grow, the stronger your future will be."

[@CharlesLiamh1p]

Exactly! With my adviser, I’ve cultivated deep investment roots, strengthening my financial security for the future.

[@HenryLucask5l]

I would love an introduction to an adviser who can help me strengthen my financial roots.

[@CharlesLiamh1p]

My CFA NICOLE ANASTASIA PLUMLEE a renowned figure in her line of work. I recommend researching her credentials further.

[@HenryLucask5l]

Thank you for this amazing tip. I just looked the name up and wrote her.

[@MiguelGarcia-rv3nj]

Dave R. I dont know much English but I know I have the words I need to have to appreciate all you give. These are; THANK YOU SO MUCH!

[@tigerrx7]

First time hearing Uncle Dave going this deep into real estate. Very solid knowledge transfer here.

[@MiaJohnson-l4k]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.

[@EthanCarter01]

Hi. I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second child. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks

[@MiaJohnson-l4k]

@EthanCarter01 However, if you do not have access to a professional like SUZANNE GLADYS XANDER, quitting your job to focus on trading may not be the best approach. It is important to consider all options and seek guidance from reliable sources before making any major decisions. Consulting with an AI or using automated trading systems can also be helpful in managing investments while balancing other commitments.

[@EthanCarter01]

​@@MiaJohnson-l4k Oh I would love that. thank you..

[@MiaJohnson-l4k]

@EthanCarter01 SUZANNE GLADYS XANDER.

[@MiaJohnson-l4k]

Lookup with her name on the webpage.

[@ckolodin]

I am a realtor, disclaimer. I have invested myself on several pieces of real estate. We also handle commercial transactions for clients. A professional experienced realtor is invaluable. Remember, if you are a buyer, you don't pay anything to hire a realtor.

[@michaelsimolke1152]

Most real estate agents don’t know about or care about real estate investing. They mostly care about selling homes, after all that is their job. They aren’t supposed to be savvy on making money on real estate investing.

[@dillonh321]

This

[@Coachat]

This is the most realest comment I’ve ever read on KZbin. Real estate agents don’t have a clue on the true value of a property and usually could care less about getting top dollar. They sometimes if not always collude with the other agent on how to best get the deal done. They are operating from their own self interest. Believe me when I say that.

[@realestatereality5445]

Buddy they dont even care about selling homes they're the laziest people on earth you have to do their job got them most of the time

[@betterhomesnc2437]

That's not true, quite a few realtors I know do real estate investing themselves on the side.

[@trentnobles9814]

I now some on both side of this. I am one who is interested in investing and working with investors. But that's not everyone in the business. I know plenty of people who are just trying to make the next deal happen as soon as possible.

[@livefromdagarage]

Daves right on the money. It really depends on how much you spend on the property. I just bought my first rental/residential property for $160k add in another $15k I'm putting into it puts it at $175k. Property is a triplex with 4 units. 2 1-bedroom apartments and 2 bedrooms with a shared bath. The 2 bedrooms are on air bnb and generate about $1000/m. One apartment is rented for $800/m and I live in the other. $1800/m before including my apartment or the extra $200 I could make renting out my detached 3 car garage which I keep for myself.🙂 Its only been 4 months but happy for what the future holds. Much Love, from Philadelphia.

[@saranwright7113]

I live in Philadelphia 🙂🙂

[@MrSlim-zv6sc]

Thats great. What part of Philly?

[@saranwright7113]

Iceberg Slim west philly

[@livefromdagarage]

I got it near LaSalle University. One of the few areas in Philly you can still get a good deal on property with some land on it.

[@saranwright7113]

Sav Bee can you tell me step by step what u did ? I wanna start . I would appreciate it. Like how much money should I save up , where should I look etc??

[@shizue-w7n]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.

[@mertie-l2f]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@myrle-v4g]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst.

[@jeanlaudato]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

[@myrle-v4g]

ANGELA LYNN SCHILLING is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets

[@myrle-v4g]

My CFA ’ANGELA LYNN SCHILLING’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@joycecastona5327]

Keep in mind though, there are property taxes, insurance and maintenance every year. Rental properties have expenses and renters live pay check to pay check and often have issues paying rent.

[@TapInWithAshton2214]

Nice way to talk your self out of making extra money.

[@keithg1955]

Thats why you do a background check and get their ss# in advance

[@butskiiueepp1625]

I think it’s fair to say 95% of people live paycheck to paycheck. Investing in real estate is one of most sure fire ways to grown exponential wealth. Also, investing is INVESTING. Unless you’re actively trying to flip a property then it’s not a get rich quick scenario. Growing wealth takes time, especially if you don’t have a large income.

[@user-rc7ld1db8v]

Thank you for this insight. ​@@butskiiueepp1625

[@raulgolfs]

This is exactly what I’m looking into doing as soon as I get through baby step 3! 🙌🏽

[@davinapantola7188]

The important distinction between investors and speculators is not a normative one but rather that investors are generally more interested in the process underlying prices, they are in it for the Long haul, while speculators are more interested in price itself and with shorter time horizons so which one are you.

[@jesseaustine8358]

You're right I myself started out as a speculator

[@bitcoin8138]

Many smart investors have lost their fortunes in the stock market through speculation although many have done well for themselves

[@jrnycrypto9866]

I started investing my money with Mr Harrison he's the best person to invest your money with, he makes me good returns weekly

[@adamsmith7927]

@@jrnycrypto9866 Mr John Harrison also helped me invest my money the right way, he's the best so far, I make great returns weekly

[@marylouise4978]

I can also attest to Mr John Harrison skills in the forex market he's a great trader and a mentor to me and my daughter

[@pmbarro]

I'm an appraiser for my county and I give God the glory for my job because I study and know the real estate in my area. Im just getting started in investing on real estate.

[@youwillwindaily]

Want to learn real estate? A very good place to start is signing up at your local REIA ( real estate investor association). Almost every decent size city has a Reia. And the cost is around 100-150 per year.

[@ChrisInvests]

Trust the agents but verify the information! They will not be as fussy as you are when committing to a property for possibly the rest of your life 🤔🏡

[@canman5060]

No. Get the agent to represent your not the seller. This is the important start.Secondly, that agent is no so pushy on you.

[@cherrytung]

@@canman5060 so true! Always get your own agent, so the agent will work for you best interest!

[@MgtowRubicon]

Every agent I have ever involved in a transaction has ALWAYS abused me, lied to me, robbed me. Learn real estate investing and financing the way professional real estate investors understand it. Agents cannot teach you anything worthwhile. If you cannot make money in real estate without using any of your own money or credit, then you won't know how to make real money with your own cash or credit.

[@LoraFeuerstein]

You are fucking amazing. Love your channel. You are telling the people the truth. This is the real shit. You are a legend, your demeanor , the attitude ,the way you explain things, the pace at which you talk. Everything is perfect dude, this channel deserves 100x its current following base.

[@mikemorgan8646]

Place lowball cash offers and see who is motivated enough [AKA] desperate enough to close. Got it Dave.

[@webfreakz]

Money is made when you buy, not when you sell!

[@kavinpatel2748]

Imo that’s thinking too small. The difference or 100-200k for a deal every few years is too little ROI for the effort it would take to find these deals to low ball. Pay what is needed to close profitable deals and don’t waste opportunities. THINK BIGGER!

[@MichaelP-ke1tm]

No agent is going to write contracts like that. You'll have to communicate with the sellers yourself

[@andrewshooter]

I bought my house for $73,000 in good condition four years ago with good schools and a great middle class neighborhood. The previous owners had bought it for $88,000 ten years prior. They accepted my ALL CASH low-ball offer very quickly and with very little negotiation. I asked my real estate agent about it and she said cash offers really motivate sellers to accept because it could save them thousands of dollars from not having to pay additional months of mortgage payments while waiting for loan stuff to process. I don't know much about real estate but that seems reasonable.

[@MichaelP-ke1tm]

@@andrewshooter It doesn't take months to close. It takes 30 days. What area for a $73,000 home is middle class?? Must be in the Midwest somewhere in Alabama, Indiana or a rural area.

[@peterpekic5331]

Buy a 2-Family Flat..... live in 1 unit, rent the other.... and off you go!

[@apophispnw5717]

"House hacking" lol

[@illiteratebeans6924]

Apophis PNW ^* DlLDO But

[@MDO_666]

Exactly

[@johncolorado1061]

Remember guys the max you can get with a conventional loan is 4 units. The more the better I say

[@cactusjack2264]

Why only two when you can probably get something bigger for around the same amount and rent out more space and earn even more money?

[@suzannas.4965]

Definitely learn first. Don't feel pressured. Be in control. I found real estate investing course through LinkedIn learning. Really good.

[@j.a.6866]

Suzanna S. Love LinkedIn learning. Thanks for sharing. Was it a free one or one you pay for?

[@suzannas.4965]

@@j.a.6866 I'm in Canada and can get it for free by going through my local library using the library card. I am truly amazed the amount of info I can get in 1 hour. It really gets the ideas flowing and more.

[@jackstraw5527]

Remember when the DR show was just old Dave and his sage advice, and of course the callers? I really miss those times. It used to be if someone was struggling with money and I could convince them to just tune into the show, it would change their life. Now I can't even recommend it because I don't even listen to it. It's so hit or miss and for me with the co-hosts it's been 75% miss! Forever grateful for all that I learned along the way, hope this program can still reach people.

[@CashflowKris]

Kind of surprised by the quality of advice here since Dave is usually beating the mutual fund drum. 1. Know your market 2. Make lots of offers 3. Buy with equity. All solid advice 👏🏼👏🏼👏🏼

[@Josh-ii1eq]

Owe 50k on my current condo, bought another one for $110k - put $30k down (Zillow worth $165k.) I know Ramsey is against it but I'll be paying $1,600/month for both properties and take home around $10k/month. Just an offer I couldn't pass up on.

[@ChrisInvests]

I just made a video about house buying but buying a rental can often be harder. You need to make sure the cash flow is enough to cover ALL expenses...roof, septic, windows and everything in between 💵🏡🤔

[@cherrytung]

Hey Chris, this video is you!

[@canman5060]

Just keep on knocking down the price till the return meets your expectation for rental property. That's all it is !

[@oliverweldner8704]

Thats nice advice. If you look at 50 properties you get a really good feeling about what you get for which price and the best of these 50 is still representing a good property on the market.

[@Gottamitchemall]

Great advice

[@linkbelt111]

Here’s the problem, MOST people in the middle class will not get past 1 or 2 rental properties before being heavily scrutinized by the lending process. A couple with a low 6 figure income most likely will be lucky to finance 2 additional properties, but it’s a good start. You have to start somewhere.

[@georgedrexel8867]

Plenty of different lending options, don’t just rely on standard bank lending options.

[@reymondjames1726]

Dave is the best. I trust him.

[@landlord5552]

I am very conservative. I payed off my house first(now I save 900€ every month). Now buying rentals one at the time with maximum 50% levarage and never bet against previous property (one at the time) and never ever against my home!!!

[@jvoutdoors8385]

Has anyone else noticed the private jet on his computer? He better not finance!

[@zill0678]

you think hes going to beans and rice it?

[@KindaRustySocks24]

zill0678 hahahahah

[@Mahinge]

😂😂😂😂

[@PORTMIAMIMIKE]

Why not finance and lease it out🤔

[@blakerich5804]

He teaches people how to be safe. The rich know debt is crucial. He is just talking to the financially illiterate and help them out of debt. Some people can’t handle leveraging debt. But if you EVER plan to be wealthy you will have to at some point.

[@tfcompleteprivate6312]

Tough (impossible) to get house at 70% of value here in Eastern Mass. most are going for more than asking and sell in a weekend. I couldn’t agree with the 1% rule as far as rents.

[@jayc4715]

Buy distressed properties and foreclosures

[@cherrytung]

*The more knowledge you have the better off you are! Knowledge is power!* Your agent might be somewhat annoyed if you shop around a lot, but who cares? It's your money, your rental property, and you should make sure you're getting what you wanted!

[@explorecalifornialife]

Wow this teenager is giving all of us some serious goals! Awesome. Great work

[@chrisludwig9783]

Some agents are not worth the conversation. Best talk to someone who is doing it

[@MichaelP-ke1tm]

Most clients are not worth the conversation because they want to invest and don't even know what cap rates are, cash on cash return, classes of properties, cap ex, noi etc. And there is no finding good deals in this market. If I found something that cash flowed over 10% and appreciated, I would buy it myself.

[@TrailerCashAcademy]

Learned a ton in this! Thanks for sharing!

[@zukzworld]

Thanks Dave, for sharing your thoughts. ✌🏾

[@RestlessSoulAD]

I'm in Atlanta, too. I took the 3 week real estate license course with Metrobrokers for $250-500 depending on your contract choice. There's also an accelerated 2 week program.

[@younghat5]

Jennifer Kindle I’m in Atlanta let teams up if interested

[@TJ-Stackin]

Reits are a good way to passively invest in real estate

[@kylelougnot]

Look at 50 houses over two years. Some good advice. At 70% it needs to be in decent condition paint clean and cosmetic updates. If you are patient enough and work hard enough you can get it 50% off. Patience on the buy makes you the money.

[@ClassicMan33]

Kyle Lougnot Yeah. Let's waste 2 years of your life learning a market. If you cannot do it in 4-6 months, you need to stick to your 9-5 and call it the night.

[@wickedhouston5538]

@@ClassicMan33 mcdonalds?

[@tradingmelon1470]

Don’t talk to a real estate agent talk to a buyers agent never trust a real estate agent he represents the seller a buyers agent represents the buyer

[@PrettyGoodShot]

The listing agent has incentive to work with you directly. You can get your own agent and cut their commission in half. They will wheel and deal. They also have insight as to the sellers motivation.

[@chrisrefaei]

Amen to this im currently struggling and back and forth of should i go into financing 3 houses instead of just buying one cash. And out of all the bs of why to and why not i love the first statement Ramsey says which is (paying for the lump some in cash makes you slow down...) You care more now because it's your money not the banks not private investors but yours so you're really paying due diligence. Thank you Ramsey for the indirect pep talk.

[@judymckee5992]

chrisrefael, Somebody I know had 2 million bought properties with 10 million, in 2008 downturn went bankrupt. Moral of story, do not bite more than you can chew. 3 to 4 years time, your opportunity will arrived, not now.

[@joselemus5294]

The prices at Alpharetta are very high, I recommend you to try to buy at Dallas Georgia.

[@keyroncampbell]

Yep... All the prices going up in the Atlanta area too.... I'll wait when the market goes down again, it's just a matter of time... The market goes in a circle

[@iluvrachellef]

@@keyroncampbell That's what I'm waiting on. I'm in Az.

[@AlexGray]

Yup, Hiram/Dallas area still has well priced homes. Alpharetta is inflated due to Avalon and downtown Alpharetta being built up

[@JenMaldonado]

Keywords Dave. Due diligence and real estate investing strategies education are key!. You don't have to spend thousands of dollars to start. Go to networking groups, learn the numbers, and due diligence before jumping. Now, during the pandemic they have to be even more conservative with the 30% discount.

[@jmoney6652]

I’m an amateur but I like having loans on houses and letting the tenants pay my mortgage

[@MgtowRubicon]

@Austin Butler If you understand real estate financing and the Time Value of Money, then you won't need a down payment or credit.

[@dereklacaze347]

Good luck with that one

[@viperviper5]

That is my plan money. Like Ramsey said you have got to know and understand the market. I live in the Washington DC area and people pay good money to rent.

[@ericgirard-realtor9813]

Wow, he's right, you have to be savage if you want to invest in real estate the right way. Me? I try to buy real estate areas where people haven't figured out the values will go up. The path of gentrification or so.

[@muaythaiforme]

What do you do with the property while the process of gentrification hasn't started yet?

[@AlexGray]

You rent it

[@Justin-ol6vk]

The first step is to speak with mortgage broker or loan originator to figure out an idea of how much you can actually afford. Then the next step is to find a trusted real estate agent like myself based on personal recommendation or by reviews. When Dave says to see 50 homes, he doesn't mean to ask your realtor to bring you out at all those. A lot of that learning can be done from the comfort of your own home, online. When you are aware of what you're looking to purchase, then speak with your realtor and go from there.

[@lepke1979]

Pretty sure Ramsey would be against financing the rental property.

[@endurex4180]

He just need to educate himself on Real estate investing...Chris will be fine

[@raymondtongolei6019]

Chris, look at 100 houses to learn the market. Study your backyard. Buy houses with equity and leverage the banks money.

[@sirheisenberg4459]

Around $250,000 was made when I sold my flat in Rochester. That's why I was upset when my standard savings account yielded only $171 in interest. It was suggested to me to buy stocks after I conducted some study. Which stocks would be a good place to start?

[@belobelonce35]

Although the stock market is exciting and can yield a healthy return on investment, professional advice is necessary for efficient portfolio management to prevent market burnout due to its extreme volatility.

[@KatyaSantos-g4c]

I anticipated receiving $2,500 in interest on my initial $50,000 when I created a high-yield savings account online with 5.12863% interest compounded everyday. Rather, I was only given $420. I asked, and was informed that the website did not make it obvious that the interest is computed daily. With the help of an expert, my partner suggested that I switch to stocks, and in just six months, I experienced almost 80% capital increase (discounting dividends). Extremely advisable!

[@firefighter-i6q]

How do I meet this advisor, please? I need assistance investing my divorce settlement because it's now sitting in the bank earning little interest.

[@KatyaSantos-g4c]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Rebecca Nassar Dunne’” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@PennyBernadette]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@LorenaDunkly]

Doesn't work in most of California. Houses in Bay Area get 40+ offers way over asking and most of them all cash. Know your area and the market. We buy single family homes with a yard, close to good schools, preferably single story 3 or 4 bedroom. It's paid off big time for us. Think "would I want to live here?" Location is key!

[@BeyondTheClippers]

Invest in smaller markets. That's what I do. Cap rates are way better.

[@persianboi250]

It’s very unrealistic to buy a property for 70% of retail value . At least in Ontario during the past 10 years

[@NWBIZGUY]

Invest in something that will cash flow at a min 5% annual return on your out of pocket cost. With the low int rates and the history of appreciating rents (hopefully property appreciation as well) you could in theory raise rents 5-10% each yr

[@JessicaO490Z]

If you raise rents like that you will have a much higher turn over which could end up costing you more. (Lost month, repairs, ect).

[@epicscoreCS2]

I look for a house that pays 2% of cash i putt in it a month 100k=2k/month ~12% a year -running cost -loans on it. Hoppe it helps some one.

[@signetinvesting]

Excellent advise!!! Real Estate is understandably very intimidating for investors. Education is key in both a broad perspective and positioning yourself correctly for your particular goals is key.

[@arturogutierrez3165]

I would recommend to invest in B and C neighborhoods. I invest in the Stone Mountain area

[@AlexGray]

But in those areas aren’t you dealing with bad renters? Stone Mountain has some rough spots.

[@SwagLifeSeries]

No reply..

[@MichaelP-ke1tm]

@@AlexGray Yeah stay away from the ghetto unless you want to deal with guns, drugs, prostitutes and a broken house

[@donnafontaine2799]

Is Stone Mountain in GA?

[@shirelylinero]

Biggest lesson i learnt in 2023 in the stock market is that nobody knows what is going to happen next, so practice some humility and low a strategy with a long term edge.

[@kevinvictor-s2w]

Nobody knows anything; You need to create your own process, manage risk, and stick to the plan, through thick or thin, While also continuously learning from mistakes and improving.

[@Godwinkeneth]

Uncertainty... it took me 5 years to stop trying to predict what bout to happen in market based on charts studying, cause you never know. not having a mentor cost me 5 years of pain I learn to go we’re the market is wanting to go and keep it simple with discipline.

[@doran-f6w]

Could you kindly elaborate on the advisor's background and qualifications?

[@Godwinkeneth]

“Angela Lynn Schilling’’ is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@doran-f6w]

Just ran an online search on her name and came across her websiite; pretty well educated. thank you for sharing.

[@compare-long-distance-movers]

Very valuable info! Thanks.

[@herbertscott9575]

Read 10+ books on Real Estate Investing. You can go in Barnes and Nobles and read them for free....best way to get started. Agents are only required to read 1 book...their states sales associate manual. You should read that too.

[@cherrytung]

not all agents are "created equal"! I know tons of inexperienced agents trying to learn as they serve clients.

[@aljosabirk4631]

Which books?

[@michaelscarn3238]

Libraries are also free...

[@mochopz]

Stocks and mutual funds scare me a lot more than property

[@libertaliagroup]

I just love the energy of this man 😄

[@AC11-11]

Giving offer of 70% of asking price won't make you buy a brick in today market in Michigan. Houses are selling higher their asking prices even if you pay cash.

[@lane.merrill]

This video brought back my respect for Dave Ramsey.

[@Cod3Thr33]

Dave, you need to make a class like FPU that is nothing but Real Estate Investment 101.

[@joeystephenson9597]

Find someone that is successful in what you want to do and talk to them. It has been my experience that truly successful people are very willing to help someone that is serious about learning. People love to teach. Successful people have abundant confidence, and they will not see you as competition. You will be surprised how fast your network grows when they introduce you to some of their contacts. The key to successful investing is your network. Associate with wealthy people, and you will get wealthy. They will literally drag you up to their level.

[@blockaderunner]

Appreciate this one. To be quite frank, I don't like a lot of Dave's advice, but his Real Estate advice is pretty in line with mine which is try not to use other people's money like so many 'Advise' you to buying rental properties. Also, the pissing a lot of people off with low-ball I needed to hear. I read RE books to sharpen the axe for when this market is not "hot" as Dave says. The good books the Real books are in line with what Dave's saying. They speak to leveraging to buy as many as possible or within your tolerance of risk. I say like Dave, just use cash, or if you Must must then only take on about 20 grand in debt per house Max. Hard work. It's all hard work, but once set up, do you want to ween yourself off of your current job or not?

[@dereklacaze347]

Paying cash for a rental property rather than going 75% LTV with a good interest rate and letting tenants pay your mortgage insurance and taxes slows down your real estate growth substantially. Easy for Dave to say pay cash when he’s sitting on 200M

[@jeffbower4581]

Yeah, real investing can be overwhelming especially when you're new or haven't done your research. Overtime, you learn. I only have 1 property that is a rental property and I was scared at the beginning. But I learned, made mistakes, all of that. I'm looking at a second property. And I'm thinking about if I should get a property manager since it's out of state. Right now, I'm just using a property management app.

[@HughThomasLorch]

Enjoyed the video and content :-)

[@HawkingRegime13]

How did you get started en route to your first rental property with no prior experience?

[@mr.miller3396]

What app are you using?

[@judymckee5992]

Jeff Bower, I bought a house with a huge garage and turned garage into 2 bedroom and 2bath, 1 property tax and 1 insurance but 2 income. Just for info

[@williamshoite3238]

How about giving crowdfunded real estate a try... Much better and easier

[@antonnishingles2412]

Awesome info! Especially the ballpark percents ranges at the end of the call.

[@tetouanitetouan9320]

0:51 It’s not a problem, it’s a ME problem!

[@roottekele4269]

I have learned a lot about real state from rental income podcast .

[@angelzanetti-1947]

I’m getting 30% annual returns on cash invested .. I would not settle for 8-10%

[@zSilverWingz]

30? That's a lot, how?

[@angelzanetti-1947]

I buy rentals duplex’s 4plexs and drop 25% down with conventional financing for the rest. I hold these properties not looking to flip but to gain on rental income (cash flow). A typical deal would be finding a duplex for 130k with minimal repairs needed and rent each unit out for 800-950.. after mortgage bills etc you’ll profit about 10-12 grand annually off 35k initial investment

[@zSilverWingz]

@@angelzanetti-1947 Really smart way of doing things, thanks for the insight man

[@CashflowKris]

@@angelzanetti-1947 leverage....it's where Dave and I disagree. You get phenomenal returns because you (smartly) leverage. Well done.

[@03c5z]

Agreed

[@raymondtongolei6019]

Buy below the median price.

[@granthandford]

Makes total sense.

[@realestatetipstrickshacks9488]

Great info. Dave.....TKS

[@davidhidalgo8465]

Buying my first piece of real estate here in CA this month, age 24.

[@SRC503]

Awesome! Congratulations! what area and price

[@davidhidalgo8465]

@@SRC503 ridgecrest CA!

[@donnafontaine2799]

That's great....very exciting !!! Congrats

[@mattsonwardy12]

Like the new music Dave!

[@RecruitingJunkie]

Knowledge is definitely true, but some folks might be 70 years old before they save 150k to buy that house in cash.

[@abbieamavi]

*this was exactly what I needed to hear.* 😂

[@riceball777]

1% of the vale of the house for 1 months rent is not possible here in Los Angeles. My $700k house here only rents for $3000.

[@cherrytung]

ugh the struggles of living in LA

[@sanjayaiyar4351]

Yes thats the case in many expensive areas. Do not buy those properties as investments

[@DanielIles]

Benton Tong Many places in Cali are like this! Your strength is the appreciation is MUCH higher than other places. Some real estate investors buy a place which market rent doesn’t even cover the MORTGAGE. It’s still a good deal because 5% appreciation on a million dollar property is worth the small monthly loss.

[@GunSnob]

My $280,000 house here in Arizona will only rent for approximately 1700-1800 a month. The 1% rule sounds like it may only be a staple in certain states.

[@DanielIles]

Jonathan Brown states differ. What is expected annual appreciation?

[@jeremiahologhobo6952]

Buy only cash flowing rental properties with at least 20% down in a growing market with a very diversified economy. Cash flowing means all expenses including CAPEX and maintenance is covered by the monthly rent with enough left to save/invest/spend as you wish.

[@ozymandias7392]

this is what my grandparents did and have paid for their retirement with 8 properties.

[@thediamondace4173]

Amazingly awesome real estate video!

[@jasonjosephlee]

Dream of retiring early and living life on your terms? Buying rental properties is the smartest retirement plan, providing ongoing income for the rest of your life. Getting started, can be as easy as buying a duplex, living in one unit and renting out the other one.

[@ShawnRealty]

I think Dave’s aggressive approach on buying at 70% market value and 1% rental rate... In Portland Oregon market in 2020, I would be on the sideline for the rest of my life with those number. I find properties around 90% and .5% and would be happy.

[@han1218]

Yeah, something is wrong with those ratios. Houses are way more expensive now in whole country, and although rent is high, it's not that high in comparison to price of house.

[@InvestorMelDaveDupuis]

Creative financing is absolutely doable! 💯 That’s how we solely own over 170 units. You just need the right systems and strategies. Follow our channel for tons of tips and weekly videos. 😀

[@sunset6010]

EXCELLENT advice !!

[@JonathanAdami]

Where I live, if you check houses for 3 years, you might pay what you would've paid for a house and an apartment lol

[@MultiDevan13]

Eyy shoutout from Alpharetta!

[@russellion31]

Check out Bigger Pockets podcast on youtube. Lots of good info there.

[@RealLifeMoney]

russellion31 I just found out about them which is pretty cool so far 😁

[@russellion31]

The Bigger Pockets website has some good books and book recommendations as well. There is some information that i don't agree with because it falls outside my personal risk tolerance, such as H.E.L.O.C.'s, but as a whole, very useful content. Rich Dad, Poor Dad is a great book for those that haven't read it. Good starting point.

[@danielbrown9813]

First thing i did was cntrl+F "Bigger" to see how many people recommended "bigger pockets" for anyone looking to get into RE. thanks for carrying the torch haha

[@CashflowKris]

Good advice, bigger pockets is a great resource

[@893263007]

They're pretty good, but they're pretty slimy and constantly brag about the houses they own

[@wadesuhr]

Dave forgot to mention 100% down to the caller. Better save up $150,000 real quick too.

[@jensbiederstaedt8022]

I would not sell a unit on 50 k gain after I paid 20k closing cost and interest for a few years.

[@zachb9965]

i studied real estate for 20 years, i wouldnt get rentals, i would flip houses in a good area. rentals will burn you out fast.

[@MichaelP-ke1tm]

Flipping is a job. Rentals are passive. All you really need are a few 8-12 plexes before you're set for life.

[@boblangworthy]

Couldn't Dave's "never driven a car before" argument about understanding investments be applied to using debt conservatively to buy real estate?

[@30minutesLess]

Bob Langworthy Dave *breathes heavily

[@CashflowKris]

💯

[@KnockoutInvesting]

A primary residence is a bad investment. A good rental property will help you build wealth.

[@judymckee5992]

Knockout Investing, Who's theory is a primary residence is a bad investment? You yourselves makes a god tenant! What you need to do , is not to be attached to your residence, treat it like a temporary dwelling till you are arriving to your dream home. Moral of story, buy low , sell high and not get over extended.

[@giggityeffyou]

Judy Mckee hey. How can you buy low? Do you buy foreclosed? I'm looking to buy a house soon

[@judymckee5992]

@@giggityeffyou , Just to let you know that foreclosure means the banks rep. has gone to court and bid on their own property.( translate, selling higher price to the public). You can buy on sheriff sale or tax sale( the people that did not pay their property tax for 3 years). I am not a financial advisor, but in my opinion, the housing market is over extended. I think you can have a good buy in 2023. With store closing ( translate high unemployment), inflation ( people having to pay more for basic, some cannot even pay their mortgage), no pay increase. I think you can go to Zillow and check some properties and keep it in your radar. See, how long it is in the market for, especially after spring. You can get a feel of , how good and bad it is. You don't have to listen to me or media that is how , you get very accurate data. Sometimes people take it off the market, to not show the length of time, that it is not sold. In the downturn , you can buy sometimes less than 10% of the cost. I have done that before, at the right time and place.

[@jball34337]

🔥 I’m smashing the 👍