I'm $900,000 In Debt, But It's Not All "Crazy" Debt...

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[@MaxxPwrrr]

I was this guy once. At 36yo I got rid of all the properties, cars, liabilities etc, kept the cheapest house and bought a cheap car with cash. Now I’m 40yo, 100% debt-free, paid off my mortgage and never felt more peaceful and satisfied with life. Massive struggle to get here, but totally worth it and I’m doing all the reno’s with cash. Thanks for inspiring me, Dave!🗽

[@turtleanton6539]

Yes indeed😊

[@nifralo2752]

I've never borrowed a penny in my life

[@account2292]

​@@nifralo2752what's your credit score?

[@JiisTube]

Rock on dude

[@noxproductions6851]

Weird I'm 36 ticked off at having debt and on the baby steps to have said debt paid off in 22 months and a fully paid for home by 40....

[@Tdog267]

Calling Dave Ramsey to ask how to structure his debt. He didn't want advice, he wanted Dave to tell him to stop, this was a cry for help

[@calebwert1057]

I love Dave he just straight up said “Why you calling us”.

[@Originalman144]

It was a good strategy when the guy was talking like he had everything figured out

[@kosmonautofficial296]

I haven’t gotten to that part in the video yet but I feel it coming

[@TedFarabee]

Yep. You can’t fix stupid. Dave can’t agree with stupid either.

[@killlaaaaa5658]

Exactly !!!

[@aaronmurphy8796]

Yeah agreed . Overall his situation seems fine to me but he’s calling someone that is against the strategies he’s using so I don’t really get what he was after .

[@Cody-jz5wj]

I feel like most people know what’s right already and know what to do, they just want to hear it in a form of reassurance & then someee really just need a sense of financial direction

[@tommycoe2333]

That wasn't this guy. This guy wanted advice on how he could keep doing what he was doing.

[@spankynater4242]

I sometimes think that, but not in this case.

[@robhaynes4695]

They make $275 a year and only $60k saved. Debt is killing them

[@TartarianTopG]

Idk but I don’t think that included retirement

[@abrahamflores2566]

or maybe they been paying off mortgage debt over the years and have a ton of equity saved up... i would bet that when you were their age you didn't even have half of their net worth

[@robhaynes4695]

@@abrahamflores2566 Bought my first house at age 19. And my second at 27. My net worth is pretty good at age 40. How you doing?

[@DianaJocelynMartinez]

Wouldn't it not be considered net worth if they have debt

[@robhaynes4695]

@@DianaJocelynMartinez Yes. Your right. It’s like owning stocks. Unrealized gains, until you sell.

[@charlesyoung9980]

I have 900k in debt with a nice little nest egg of 60k. This dude is clueless.

[@CyranoDeCorveau]

Well, I mean, he does have some assets against this debt. Neglecting that from your statement is unfair.

[@rebeccaoprea9917]

Everyone thinks the point is to make money but forget the point of that is to get out of debt and stay out of debt .

[@donaldlyons17]

Without debt how is he supposed to make money? I don’t know a business owner who did not borrow to buy assets. And most home owners in my area had or still have mortgages.

[@NewLifestyleMentor]

Not all “crazy” debt?! He’s just trying to minimize his foolishness by going further and further into debt.

[@livingunashamed4869]

Did he say 60k nest egg? I hope he meant emergency fund. No way would I have 500k+ in real estate and only have 60k in stocks.

[@donaldlyons17]

I think he had done well considering renters tend not to be hood rich. However as long as someone pays why does it matter if his 60k is considered a nest egg or just an emergency fund.

[@bfrye41]

He is insanely unaware of what nest egg is. Making 275 with that much debt means you are BROKE!

[@brownsugga2584]

@@donaldlyons17 The point is he's not accounting for what can go wrong and something always goes wrong. Tenants can stop paying or he could have a costly repair, vacancies for some time, or job loss

[@mph5896]

Great question from Dave, "Why are you calling us, how can we help". Caller already has his own plan. That plan doesn't agree with anything Dave teaches. Keep doing what you are doing sir if you think it works for you😉

[@stevenporter863]

Didn't listen to Dave's response yet but my guess is Dave does not like any of it. Like pulling in and out of lanes so you can be a car length ahead.

[@mph5896]

Phil Lancer why not listen to it instead of making assumtions

[@stevenporter863]

@@mph5896 I did listen and not assumptions. Just a fun guess of Dave's reaction after listening to him multiple times.

[@JustAName-it5qp]

I got 300k on two houses to include my primary which will eventually turn into my second investment. My fear got me to hunker down, rice and beans and pay off my entire debt.

[@leadnsteel1428]

I paid off my house in 10 years. Then turned it into a rental house and bought another. I make about 100k annually and I don't spend much. My wife and my cars are paid for and we have a good nest egg and savings for our kids

[@RogerPack]

You paid off 300k? How?

[@DEBTFREEMIKE769]

I bet George looks like he’s 15 when he has no beard lol

[@danjackson4481]

With a $275K income, $60K is an Emergency Fund!

[@abrahamflores2566]

Dave you went broke taking out hard money loans on flips, not 30 year fixed mortgages on rentals

[@alinatamashevich3354]

Does not matter, the banks still own ALL debtors, the type of loan does not matter.

[@isaacdelaney4442]

@@alinatamashevich3354 you must not understand what hard cash loan is and a 30 year fixed mortgage is, they are VERY different. One is MUCH more risky than the other, and more likely to be called in. In fact if you bank with institutional banks like Goldman Sachs or JP Morgan you’re liable to never have you loans called in.

[@alinatamashevich3354]

@@isaacdelaney4442 You must not understand debt. Both are risky, and something Dave and I do not do. You are foolish to think a loan cannot be called without notice. The bankers number one priority is to protect the banks assets, not yours!

[@jraine2328]

@@alinatamashevich3354 you just not a risk taker, no issue but don’t come down on people that use debt for leverage for real estate. Dave keeps you working a 9-5 for the rest of your life and hoping you will retire in enough time to see your reward. People like me who has used debt as leverage are risk takers and don’t mind using real estate for equity and building on that. The man in the video clearly can sell all his properties and still use all of his money that he has in equity and come out on top

[@BrandonTalksFitness]

@@alinatamashevich3354 The type of loan ABSOLUTELY matters. Don’t use blanket statements like that without reason. Abe is 100% right, what Dave did in his 20’s is drastically different than buying investment properties with 30 year, fixed rate mortgages.

[@Guitarlvr01]

My husband and I make less than 100k and we have twice the nest egg he called “nice,” lol, and we didn’t even start investing until five years ago….

[@DiegoSanchez-up6fg]

I feel like people are just bored and want all that stress in their life because it gives them a purpose but all that debt is is bad, yeah the guy needs some peace and try to stop chasing all the potential gains

[@ElonMuskZonefx]

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[@gregbaxter6162]

I feel like this comment is stupid

[@jdubs2113]

@@gregbaxter6162 Not really

[@TheTrueMTL]

A 4-Family in NJ thats worth 650K and 450K debt on it is definitely cash flowing.

[@shawnk7364]

Don't worry everyone he paid off his student loans! :)

[@MichaelAnderson-wk1no]

If anything, I would argue that "investment" debt is the CRAZIEST kind of debt lol

[@rekostarr7149]

interesting. probably sucks you in and gets you addicted more than most hmm...

[@Originalman144]

Yep, because they act like it is free of risk. When it’s not!

[@Originalman144]

@marks90004 Investment debt is crazy, consumer debt is usually stupid.

[@johndone8045]

No leverage, no rich

[@BrandonTalksFitness]

Why do you call it crazy?

[@mannyjeanpierre4062]

"No student loans. Paid that off" he says lol

[@adamseidel9780]

This guy is probably doing very well and on his way to a lot of wealth, but he definitely called the wrong show.

[@kailit9984]

If he is doing that well he wouldn’t be calling anybody for confirmation. Something he is unsure about that’s why he is seeking counsel.

[@abrahamflores2566]

@@kailit9984 even if he sells his properties today, he proved Dave wrong because he will walk away with hundreds of thousands in equity leveraging real estate.

[@shachede6828]

Exactly

[@dyrandoms]

I was thinking this. You’re not following the Dave Ramsey plan so why call Dave Ramsey. Especially because he’s actually doing well on the investment side of things.

[@jamestyler3698]

@@abrahamflores2566 Its not proving Dave wrong, in that some people gamble leveraging real estate equity and win, in the same way that some people play the lottery and win. that doesn't mean that its smart to play the lottery, lol

[@irina383]

When you make that much it’s not that hard to become a millionaire, just live on 100k and stack the rest in mutual funds. But he needs to keep up with the Joneses and inflating his ego with leveraging debt. And what does he mean it’s not all crazy debt? Having 900 k in debt is the craziest thing to do.

[@boneyn3661]

Well said!

[@nunyabidnes6010]

ETFs not mutual funds.

[@plants4thewin]

This caller 🙄. Hustling backwards 🤣😂

[@Originalman144]

It’s not a $60k nest egg if you have $900k in debt.

[@abrahamflores2566]

It is when that $900k in debt is on properties worth $1.5 million that bring income each month

[@donaldlyons17]

@@abrahamflores2566 I was thinking the same. Sounds like money will likely flow in to offset debt over time!!

[@Originalman144]

@@abrahamflores2566 No, it’s not a nest egg if someone else’s name is written all over it. This isn’t rocket science.

[@abrahamflores2566]

@@Originalman144 then nobody with a mortgage on their primary home has any savings by your definition. As for the $900k in debt Ill gladly take over the payments and properties if any one offers

[@Originalman144]

@@abrahamflores2566 Savings for a rainy day when you are deep in debt is not a nest egg man. Go read the definition of “nest egg”

[@stereovintage770]

People pick debts instead of FREEDOM

[@tstanley01]

Who is more free...the dude with no debt who is working 9-5 5 days a week for 40 years, or the guy who is 15 million in debt, making 40k a month and never having to set an alarm clock again for the rest of his life...this whole all debt is bad thing is just insane...the vast majority of wealthy people got there using debt..

[@swannyriver75]

How does an Investment bring debt an investment brings a return not a headache cut that loose sir...Amen Dave

[@riceball777]

Many many people become millionaires with leverage real estate. Not with nothing down but with 20%+ down with a fixed rate 30 year mortgages. I personally know many millionaires and a large part of their wealth was built from owning real estate obtained with 20%+ down payments with a 30 year fix rate loan. Wealth was made by the appreciation of the real estate and by the eventual pay down of the loan.

[@Trashy.]

Yeah, Dave's just trying to sell books.

[@asodawg4389]

They make renters pay their mortgage. I know many millionaires and I’m getting there myself.

[@Ka_Gg]

I like how he says they have a nice nest egg of $60k. My GF has a "nice nest egg" of more than that and makes around $50k per year. I have a "nice nest egg" or around $70k and make like $45k per year. How can he claim that's a nice nest egg with their pay?!

[@keokio7]

he got wife and kids, you'd be prob be proud to have a nest egg of $1000 with those liabilities

[@Ka_Gg]

@@keokio7 "hE gOt a WiFe"....she works and makes money. You act like she is handicapped and costs money

[@feliciasjourney]

Right! We make $160 and have $130k saved.

[@soobv]

Who cares

[@richcreager7877]

Sell the kids today, Skip the Beans and Rice, Water Only if it's Free, Keep the Wife as long as she has an Income

[@nicole4779]

Hahahahahah 😂😂😂

[@BrianErwin]

they're just too eager to build wealth. be patient, there will always be homes to flip and properties to rent

[@jeanlenor1858]

All the tenants have heard for the past two years was they don't have to pay rents.

[@jimmymcgill6778]

Just stop with that over used tried old argument.

[@d_all_in]

@@jimmymcgill6778 you have no rebuttal tho

[@jimmymcgill6778]

@@d_all_in People come up with the same old tied excuse all the time.

[@jeanlenor1858]

@@jimmymcgill6778 Just pay your rent! You can't live for free. No landlords owe you anything.

[@karlheck4121]

@@jeanlenor1858 True, though if you have enough rental property, you had better have a loss reserve for evictions and unpaid rent and a good screening system. When I was in NY, I was told by landlords and attorneys it generally took $6-8K to get a bad tenant out, plus the unpaid rent you aren't getting back. It takes a lot of months of profit on a property to make that back.

[@JustAName-it5qp]

He won't take the advice, he's gonna turn to tik tok for the "feel rich" advice.

[@jsr1637]

well, that’s not always true. he can just live in leverage and control it very well if they are a finance geek.

[@aaront936]

Because he's not financially illiterate and understands how money works. Not all debt is created equal.

[@BSCTrainerRob]

275k income 60k cash and took a car loan lol

[@stemikger]

I have to say, the guy with Dave really surprised me with how spot on he is with his advice. I remember him when he was in a different position and I never really thought he was ready for prime time. Glad to say I was wrong, he really has proven he belongs in that chair.

[@BridgeStamford]

900k debt from a combined income of about 250 is alot worse than it sounds. People on these salaries and have this debt is total mismanagement . Their true income is much less because of all the outgoings

[@barbieblue3336]

Lol, NJ in the house. Newark in the house. "How you doin' Ramsey" soprano style Tryna Runabout

[@alinatamashevich3354]

He is Saul's homeboy

[@joseph10704]

Ok one thing everyone needs to understand is no matter what a debt looks like just because its a investment its still a debt. U know what not a debt when u pay a cell phone bill or a water bill or a food bill or Electric bill these are bills unless u dont pay them and they pile up. Then its debt you owed for the past months. People need to understand this if u knew this u would not be on as much debt as you are possibly in today.

[@rochester3]

good debt and bad debt thats the difference

[@Michael-vf2mw]

By definition, bills are not debt, yes. What is the point you are trying to get across? If the bill is something that you cannot get out of, it's essentially the same as a mandatory payment on debt for all intents and purposes.

[@rochester3]

@@Michael-vf2mw yeah a bill isnt debt its a liability if it isnt helping you get richer

[@theforeignerinamerica1817]

if you owe it against something that doesn't make money, it's called DEBT and it's bad. If you owe it towards something producing money and paying itself, then it's called LEVERAGE, and it's great to become richer.

[@tortoisehead30]

Many many have tried leverage with stocks. It usually doesn't work out well in the long run.

[@theforeignerinamerica1817]

@@tortoisehead30 I’m talking about Real Estate

[@kailit9984]

@@theforeignerinamerica1817 if his nerves can handle it then by all means. Clearly his nerves can’t take it that’s why he is calling. It makes money, but it’s not for the faint hearted

[@1981lashlarue]

Until it quits making money. Then it's not leverage, but a liability. Anytime you have debt, it comes with risk.

[@hinglemccringleberry8805]

He called him Ramsey...Definitely doesn't know the show or Dave. Its ok bud

[@jimmymcgill6778]

Yeah. This is a question for the money guys.

[@jimmymcgill6778]

Most millionaires make millions in property. That they have took out mortgages on.

[@d_all_in]

Most millionaires have equity in businesses, not real estate. In fact, the wealthier you are, the less equity in real estate makes up in your portfolio.

[@jimmymcgill6778]

@@d_all_in There are people that makes millions in real estate.

[@alinatamashevich3354]

And you would be wrong! Quit listening to the internet gurus and fakers. They are in debt, nothing more.

[@jimmymcgill6778]

@@alinatamashevich3354 You are wrong.

[@RogerPack]

Anecdotally it seems like a lot of people that retire early have real estate. Wonder why Dave's survey doesn't agree...

[@TedFarabee]

I’m all out of nice for people like this. It feels like 2006 2007 right now. YOUR HAIR IS ON FIRE 🔥 GET OUT OF DEBT AS FAST AS YOU CAN, MAN

[@ElonMuskZonefx]

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[@ilikeshroomgals]

This was by far the best call yet it was a younger version of Dave. I think Dave was taken aback by that hungry young buck.

[@abrahamflores2566]

A big difference is that Dave was doing hard money loans on flips, not fixed rate mortgages on rentals. Dave playing with a flamethrower

[@johndone8045]

@@abrahamflores2566 more like dave was playing nuclear waste with bare hands and this caller is just playing tricks with knifes

[@tstanley01]

They are nothing alike...This dude has low interest fixed rate 30 year debt on cash flowing properties. Dave was getting 90 day hard money loans. Dave was like a monkey dancing on a razor blade. The tiniest bump in the road and he got wiped out. The problem is that he continues to equate the very high risk stuff he was doing to buy and hold real estate investing...They aren't anything the same and he as a bunch of un-educated people eating it up.

[@nancyt6895]

If this is NJ property, he is doing well and going to be very wealthy. That said, Dave's program will have him pay off some of the debt. Not sure he called the right show.

[@RogerPack]

True at that income they might be able to save up and pay off all the mortgages?

[@BagsNBaguettes_327]

How do you sleep at night with all that debt? 🤦‍♀️

[@boneyn3661]

Because he has a massive ego and, thus, is in complete denial regarding the trouble he has gotten himself into.

[@brownsugga2584]

I couldn't lol I would just sell everything because that's stressful. Then, it's really a problem if he loses his job

[@Lon1001]

Calling Ramsey to figure out how to "structure" your debt!?... liquidate everything you can to do the baby steps and use the snowball method to get to baby steps 4,5,6 as fast as possible.

[@tstanley01]

No...just no...

[@abrahamflores2566]

Not the best advice

[@rachels7252]

@@abrahamflores2566 Exactly. I have well meaning people in my life telling me to sell my rental properties to get the quick cash. Yet they are far from wealthy. And now the dollar is losing value - look at our 401ks, stocks, etc. I think I'll hold onto my real estate.

[@dcavic6157]

"Get rid the wife, sell the kids, your on the rice and bean diet until this blows over"

[@BetYouHateMeNow]

not in his case his wife makes 45k more than him keep her

[@Sizukun1]

Real estate investing in cash is like saving up 100% for a down payment. At that rate working your regular job you'd be buying your first investment real estate in your 40s or 50s. If you've done everything else "right".

[@mph5896]

Did you watch the video? I would call this Daves greatest video I have ever watched. Investing in real estate with such low margins isn't going to get you far. Prices on EVERYTHING and the deadbeat tenants are going to make you barely get by (or even loosing money monthly) for years with a ton of headaches. If you think you can do it, have at it. This particular caller makes HUGE money. Think of all the $ he could have to invest if he wasn't playing the debt shell game. A couple years he could be out of debt, paid off house and really investing heavily debt free.

[@jimmymcgill6778]

@@mph5896 Who says his margins are low?

[@threestans9096]

@@mph5896 i’ll never listen to a person who says don’t buy real estate.

[@mph5896]

@@threestans9096 Who said "don't buy real estate"?????🤣

[@mph5896]

@@jimmymcgill6778 Dave did in this video. When you are stretched with debt.

[@lovethemflowers]

Man! What a mess. WHY did they keep buying houses to renovate??

[@ElonMuskZonefx]

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[@anniesshenanigans3815]

So he thinks investment debt is not crazy debt. Let the rant begin..... I cannot believe how people try to justify their spending.

[@jimmymcgill6778]

Because it is not.

[@abrahamflores2566]

its not spending, its investing

[@alinatamashevich3354]

He has dank the kool-aid

[@dr.bradshaw]

“Dave is wrong” - Saul Goodman

[@aaront936]

Dave usually is wrong though.

[@TedFarabee]

Then why are you watching him and making comments?

[@dr.bradshaw]

@@TedFarabee I’m not saying he’s wrong. I agree with Dave. I was poking fun at the constant trolling from Saul Goodman

[@alinatamashevich3354]

@@aaront936 Nope, Dave has a 30 year track record of making millionaires. What do you offer keyboard commando?

[@alinatamashevich3354]

@@dr.bradshaw I believe Saul, I will obey Saul, I will move to New Jersey...wait what?

[@noxproductions6851]

I dont care much for religion but if i were a religious man i would say that god sent this man an amazing purpose....

[@abosbilici5549]

They deserve everything that coming to them. What they do to innocent people is awful. Thank you so much for what you do. It clearly is getting to them and love to see it. You guys are doing the real work here! This happened to my 97 year old grandmother and luckily we caught it just in time, thanks to these recovery!! THANK YOU *MYSTERY PLANET ORG* !!!!

[@turtleanton6539]

😊

[@33ladyRAM]

$275K...$60K nest egg...interesting 🤔

[@hmj8469]

He called the wrong person if he was looking for permission to be highly leveraged...

[@yneigmapsyko]

This is a concerning situation. They only make a little over $200k, have four kids and a million dollars in debt. Neither one of them thought this through, God forbid if they lose their jobs. This is a disaster waiting to happen

[@motoryzen]

@@hawkeye2958 there are details missing here I think. The situation could go either way...but being in debt 5x what your yearly income is ...is definitely NOT fine

[@jimmymcgill6778]

Not everyone is Dave. Who takes out hard money loans.

[@rodneyevans8362]

Robbing Peter to pay Paul.

[@cashway0420]

I can picture Dave wearing his headset in the shower

[@Ka_Gg]

This guy is just doing too much. Slow down there boss. They make a good living. Working full time like that and dealing with several houses doesn't sound fun.

[@fhuber7507]

900k debt is crazy debt by definition. investment debt is totally nuts debt. This guy has no clue what Ramsey's plan is all about nor the constant theme of the show.

[@lulu-dr4eh]

Well suddenly my $50k debt is not so bad.

[@boneyn3661]

Yes, it still is, unless it's mortgage debt. Did you watch this so you could feel better about your bad situation?

[@lulu-dr4eh]

@@boneyn3661 yup 🤪

[@boneyn3661]

@@lulu-dr4eh lol. Doens't that debt compound each month with interest? Scary stuff...

[@lulu-dr4eh]

@@boneyn3661 nope 😉

[@officerahmo]

Why doesn't he sell the 650k one and use that 200k difference to pay off his house and the other debt?

[@juangonzalez4376]

More like investment LIABILITIES!!!!!

[@dougsmith3821]

I know a farmer who will take out a loan to buy a new piece of equipment only when they need it on the farm. He will not buy any other pieces of equipment until that first one is paid off. I feel like that's a good way to stay on top of your debt the best. I feel like if that guy did that with those properties, he'd be set. Buy one, pay it off, buy another.

[@shachede6828]

I think he called the wrong show. Y’all won’t believe how my dad played this type of game in real estate and he became a MULTI millionaire. With a ton of properties all paid of now. And they are generating mad income. This game is not for everyone. My dad keeps telling how to do it but I simply don’t have the heart for it. One thing my dad did was lower is his own expenses he did nothing but pay his debt and pour money into the property to buy more and more property’s. I had zero idea he was a wealthy man till I was going to college even then he didn’t spoil me at all I still underestimated his wealth. My is just now considering his first new car. It’s a risk but the rewards are crazy high. Just not for me. But don’t call this show.

[@commonsense-og1gz]

is he selling homes, or renting them out?

[@shachede6828]

@@commonsense-og1gz rents them all out.

[@commonsense-og1gz]

@@shachede6828 while it is a hassle, it does seem like it would be awesome to gain 10k a month on 20 homes.

[@kenfontainetrades]

Mind sharing your fathers methods?

[@BSCTrainerRob]

having a paid for house then real estate investing all in cash is ridiculous I mean come on. ill be 50 before I I start

[@ElonMuskZonefx]

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[@ethanwright2981]

Sounds like this dude is killing it to me

[@mikenelson8377]

If he were truly “killing it”, then why call DR? This has more red flags than a Chinese parade

[@ethanwright2981]

@@mikenelson8377 unless I missed something, his only debt was on income producing properties. Which are paying themselves ideally. If that’s not the case then get it fixed. But if so then keep rolling and building net worth.

[@tstanley01]

Exactly...but read the comment section...there are a lot of Kool-Aid drinking Dave fans in here....

[@iiii8358]

@@tstanley01 reading these comments had me feeling crazy.. 🤣 I want to be just like this guy .

[@matthewmchenry9331]

Did you guys miss the part where Dave says he is playing the edges? Ignoring risk entirely? Dave's whole story is about going bankrupt doing this exact same crap. If you want real estate investment hype based on high debt and high delusion, there are a thousand other influences preaching that on social media, why are you watching Dave?

[@rooty9490]

Sorry but once again Ramsey is just plain wrong--much like his terrible math abilities he states today that the shortest way to wealth is not using debt---wrong wrong wrong. Not using debt is preferable obviously but it is NOT the shortest or even often the best solution. There are literally thousands of opportunities to invest that involve debt that return box car figures quickly that involve starting out with some debt---c'mon he knows this but he cant say that because of the dribble he peddles....

[@donaldlyons17]

He does not want people to never pay their debts off.

[@dagobaker]

160K for a dock worker to unload cans? for that wage u would think it would run smooth as glass

[@ElonMuskZonefx]

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[@jacobt1063]

This is for Graham Stephan not Dave

[@jimmymcgill6778]

Why does Dave hate it when people have real estate? His renters are paying the mortgage, taxes, maintenance. Dave is always bring up his story from decades ago. But he hardly tells anyone that it was all his fault for taking out hard money loans.

[@jeanlenor1858]

Another eviction moratorium. Tenants can again live for free 😂😂😂

[@jimmymcgill6778]

@@jeanlenor1858 That is an old tried excuse.

[@abrahamflores2566]

It's how he sells books, fear mongering into followings only his plan. He doesn't teach people to make their own financial decisions, he teaches you shut up and follow the baby steps.

[@shachede6828]

It is because Dave Ramsey failed at this strategy

[@hollyb6885]

Having rentals is great UNTIL the tenant can’t pay the rent.

[@davidbobo9740]

Good advice to the guy a little stessed . Two steps forward , one back . Smiling along the way sounds nice .

[@machutson5493]

He's wayyy over his head. Dump the investment real estate and start good investing.

[@imveryhungry112]

160k as a longshoreman is dam good

[@jerrykreutzer4326]

I still don't understand why so many people take personal debt to finance their real estate investments. Either consider it a side business and structure it that way, or don't do it at all. It's literally called a Limited Liability Company, for a reason.

[@DaringDanielletravels]

Investment debt? I thought investments were supposed to earn money????

[@AB-wy7dr]

“Investment debt” = oxymoron

[@3-dreticle826]

Rich ppl problems. All those fancy degrees. No common sense.

[@chrysiarose]

Dave's hatred towards renters is a turn off for me - I have never been a bad renter, I always get a letter of reference from the previous landlord, I like living clean and I don't have pets or cause trouble. I'm boring.

[@amireallythatgrumpy6508]

You are in the minority.

[@boneyn3661]

You're responsible! Thank your parents.

[@ryansgale22]

You came to that answer very fast without going over all the numbers. What are the state taxes hoa rent insurance mortgage rate etc.

[@AbeNXC]

What a way to give absolutely minimal value to this man. Aren't you the one who always says to work hard young to relax later? This caller was stressed, yes. But he knew what he was getting into when he started. The caller is willing to be stressed and uncomfortable now to make an amazing life for his family and in a few years be able to hand that stress off to his team. You just recommended getting rid of 50% of his portfolio.... to ease the stress of a man who could be on track to retire in a few years? that multifamily produces monthly income (sometimes) and will more than likely increase in value, which will increase his equity in the house and increase his net worth overall. How about you stop trying to be witty with all your callers so we can hear an actual conversation? All you ever do is shut people down right away. But you know what that does to the viewers? It makes those of us who may not completely understand you or the caller, worse off because now we don't know the "why" behind your "no". Theres more than one way to skin a cat and hearing others points of view fully is helpful. If you need to, take less callers per session. That way you can stop muting people half way through just to get on your soap box.

[@GojoTheHonoredOne9]

When u make millions of dollars like dave, then make a comment of critique

[@iiii8358]

I agree . A few years of a tight budgeting for this guy can turn him into a multimillionaire sooner than he thinks. I like Dave, but let’s be real, he doesn’t know everything. Every situation is different

[@jbarkley4938653]

Debt is debt.

[@jimmymcgill6778]

Not all debt is bad debt.

[@flaqko5686]

@@jimmymcgill6778 keep telling yourself that once you can't pay them back and get bankrupt

[@matsumi6554]

I love how at one point, Dave is at a loss for words. 😂. $900K in debt but it’s not “crazy debt”. That is crazy debt.

[@s58786]

This cohost is annoying lol

[@shachede6828]

The guy in greens reaction when the number was called.

[@Kyle-xe5qx]

Dudes just shifting money around while accumulating more debt, pretending it makes a difference.

[@ForgeofSouls]

The only thing most dont understand about Dave is how he conducted business in his youth. I would urge anyone to look into that and understand that he was very much into high risk high reward debt. There is nothing wrong with what he teaches today but most would not go about real estate investing the way he did. He was very much a cowboy that took on too much risk.

[@sullimd]

Correct. It was beyond cowboy. It was so risky that the lending practice is now illegal.

[@ForgeofSouls]

@@sullimd I just find it frustrating in how he calls upon his past experience and compares it to modern day real estate investors. Its very misleading.

[@kensmith2796]

Exactly. That is why he is so debt adverse, because he got into trouble with it. It doesn't mean someone else can't utilize low interest debt as a tool for additional wealth building.

[@overdose8329]

@@kensmith2796 low interest debt for 'wealth building' is the cause of this millennium's bubbles and has ruined developed countries and their economies for the foreseeable future

[@jasoncrandall73]

With his equity he is better off selling off those rentals & invest in more long term stable investments. They both make very great income already.

[@pahanin2480]

Dude works in IT and needs IT help with that muffled connection

[@c.s.christopher5801]

"And it's not just that I made that up. It's in the bible." LOL, worst argument ever.

[@madmanmechanic8847]

That guy is in denial he is not going to listen its ahuh ahuh ahuh yeah yeah yeah total waste of time for Dave. I have no clue why he called he doesnt want to make any changes

[@aaronblankenship6327]

He can keep the properties and have the tenants pay for them. Also a good chance that he has a bad year and ends up bankrupt

[@jayafow84]

That kind of income he can be set for life just save and quit being an property investor!

[@Howdy762]

I can't even hear this guy

[@jeromehenry4484]

The way caller is speaking were the words, especially figures, are melded together is a red flag. Caller is giving out only the information he wants to give out, leaving out other pertinent details, and possibly giving incorrect figures. I would need extensive 3rd party confirmation to believe anything this guy says.

[@sonrisefamilyfarm8572]

Probably not llamas - alpacas were big in the late 90’s lol

[@marknewton6984]

For what?

[@yourgooglemeister6745]

I have a feeling this dudebro is fudging his numbers. Especially the income

[@jimmymcgill6778]

Why?

[@yourgooglemeister6745]

@@jimmymcgill6778 because he sounds too stupid to have a 150k job, and if he means 150k in revenue from rents then he is excluding expenses.

[@JustinCase780]

Not at all. Feeling is wrong. 🤣

[@JohnDoe-gc1kt]

@@JustinCase780 make sure to keep your debt in check. You seem to be doing very well. Keep saving in case if emergencies.

[@kevinkidneyy]

house flippers

[@sagatuppercut2960]

I think he called the show to brag about his money.

[@ChrisCardenDrums]

So he's got 200 in equity on rental a, paid for rental b, and I'm assuming because he said nest egg that's not just 60 sitting in a savings account somewhere. 130 in debt between rental b and his personal non mortgage debt making 275 a year at work. I gotta disagree with Dave, it'd be different if they made 90. Sell the one you owe 450 on, take that 200k and put yourself at 4 5 and 6. Every penny from the rental plus more going toward their primary mortgage and they knock it out in 18 months to 2 years easily. Then you're piling cash and looking for the next real estate deal.

[@brucefredrickson9677]

They just borrow money for everything...you never get ahead that way.

[@Jakkaribik1]

Nahh he should keep it and save a bit so renters who do not pay are not as a Problem