Dave Ramsey: How I Lost EVERYTHING Flipping Houses

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Information Dave Ramsey: How I Lost EVERYTHING Flipping Houses

Title	:	Dave Ramsey: How I Lost EVERYTHING Flipping Houses
Lasting	:	9.26
Date of publication	:
Views	:	158 rb

Thanks you for sharing your failures and showing us that when we fail we can get back up again and be successful! Thank you for the hope Dave!! And the cold hard facts and truth and guidance! May God bless you always!!! ❤
Comment from : Elisabeth Pusta

I like everything he's saying but I do take offense to him calling people idiots 😂 You lost that right because you've lost and they haven't as of yet (Simple Logic) Another way to look at it is the teacher was once the student !
Comment from : Chris Joe

He went bankrupt because he was STUPID!
Comment from : L A

I think the tik tok idiot with the jet is grant cardone lol
Comment from : riverrat5822

I bet he has skeleton in the closet If he's this smart he wont be giving advice on yt
Comment from : Leo

The gambler's curse - you won the first game
Comment from : altair1983

Test
Comment from : hueha hihiya

My portfoliio of $750k is down to $492k, How can I profit from the present market" , I mean I've heard of people making upto $250k in couple weeks during this crash and I'd like to know how
Comment from : Quinn Conor

Hello Dave I learn so much from you By the way Kalamazoo Michigan is my home town We will stick with you we always learn something new God bless😊
Comment from : Mike Sawyer

How did his marriage survive after bankruptcy? AMAZING
Comment from : Rich Prokop

The great thing is that even though Dave made mistakes early in his life, they were all part of his journey to financial success He learned from his errors I made a few costly errors myself, but it's one way to learn! 👍
Comment from : p soteriou

Real estate is popular but it's not pretty
Comment from : Dr Fajingler

Flipping has gone nuts in Florida rentals I’m seeing 1,000sqft shacks going for $2k/month because they’ve got new floors and kitchens Of course they’re all asking for proof of 3x monthly salary and credit checks, so it will be interesting to see the rent delinquency rates down here over the next couple years
Comment from : Megan

Thanks for the knowledge, sharing your experience, great sense of humor, awesome show
Comment from : Medic173

Hmmm year after 1983 was not 40 years ago But Dan being slick guessed 30 years ago
Comment from : JMN 123

So you're saying there's a learning curveshocking
Comment from : Kyle McCaffrey

Don't ever believe anyone on Tic TAC!!!
Comment from : steven wong

5:38 It’s $2,571 compensating for inflation
Comment from : David Milhous Carter

7000 for a house 😂 Even the ghettos have come a long way 7k inflation adjusted is 22k now brHe said it's going for 200+?brbrI guess if you can wait a lifetime, a house isn't a bad investment
Comment from : Leo

Low key shot at Grant Cardone thrown in there Using leverage for real estate isn’t always dumb
Comment from : Gideon Hawk

Your first deal should be a house you can move into and learn how to do some jobs yourself, and if you need a contractor, have them do small jobs at a time and don't tell them you're going to flip Some contractors will take all your money
Comment from : Benjamin Day

Great video Dave, I'd suggest making the most of the recession and inflation Recessions are an inherent part of the economic cycle, therefore you can only plan and prepare for them After graduating, I fell into a rut because my first job out of college was as an aerial acrobat on cruise ships I currently run my own company, serve as a vice president for a significant corporation, own three rental properties, make stock and company investments, and have increased my net worth by $500k over the previous 28 months
Comment from : Rodrigo Hernandez

Dave’s advice is terrible If you pay cash only for rental property, you won’t be having a buy and hold portfolio until you’re 50 Where Dave went wrong is he overleveraged I would say definitely don’t over leverage, but there’s no reason to avoid debt entirely
Comment from : Jason Bay - Real Estate Investing

No doubt , about it , Greed is Toxic !
Comment from : Greg Mijjares

wow this black girl is beautiful i see you dave meeting those racial quotas while enjoying the eye candy
Comment from : Cryengine_X

over 90 of homes are not good investment properties Finding good investment properties isn't as easy as it seems, it takes a lot of research and experience
Comment from : Richard Neal

100 financed foreclosures? I like that Dave spins the story to “bankers just wanted to ruin my life” uhhh no you were clearly over leveraged
Comment from : Chris Topher

The failures don’t post on TikTok So when you’re young and all you see if people in your age range being super successful online you think everyone is doing great except for you But again those that fail don’t post TikToks about it
Comment from : Raphy Martinez

My uncle bought parking lot spaces in Manhattan years and years ago Best investment he ever made Super low maintenance and highly profitable
Comment from : Ace Paul

From 1985 to 1998 my husband who is a building contractor and I bought 23 rental properties in Scottsdale AZ We were careful who we rented to and all the properties had a positive cash flow During the same time, we also started flipping houses making some great money Housing prices in AZ had gone through the roof so two years ago we sold all 23 rentals before the market started to drop again With the price of houses now, even with the small dip in the market, I don't know that it's a very good time to get into real estate
Comment from : Ashley Jennings

Why is she so annoying , may be cause she acts like she knows everything but too young to know
Comment from : diana

Buying and holding is the least risky real estate investment strategy Flipping is very risky and not tax efficient
Comment from : Anthony Dooley

Yeah there’s too many variables for me 😝
Comment from : Life with Margot

I bet he used credit cards when he was at $0 , he had to buy food somehow
Comment from : Life with Margot

So far two inappropriate comments given your cohost 😮
Comment from : Life with Margot

Copper are the good pipes they last 80 years
Comment from : JDB

The flip it or flop show always make flipping so easy and profitable Maybe it's all bs
Comment from : Sauron the great

I'm surprised MOST people I see on YouTube will have you believe that everyone makes money in real estate and that it's guaranteed income!
Comment from : J T

Dave never ACTUALLY tells how he blew it He ran construction projects on LINES OF CREDIT This is of fact incredibly stupid… There a right and a wrong way to find these projects (flips or buy and hold) Any situation where a note can be called due at the drop of a hat is an absolute ridiculous risk I have literally never once heard him be fully transparent with what he was actually doing, and why the notes were called, and simply admit that THAT was his actual mistake
Comment from : Josh Bryant

The fact he made money on the first one Make genius I lost on every house I own
Comment from : Daisy Karen

We all learn from our mistakes Dave! It makes us the wise people we are today
Comment from : kristina m

Yeah no thank you Any money you make is not worth the aggravation
Comment from : Triple Seven 777 🎥

One lesson, don't use a single financial institution for all that leverage
Comment from : c141bee

I wish the girl would just not talk
Comment from : hulkhuggett

Not to mention a pandemic with executive orders that renters don't have to pay rent!
Comment from : Donna Dagostino

Housing I'd the worst market fir business if just get out small place to live and be done with it, also nothing wrong with renting
Comment from : Astrah Cat

Great stories, thought I as the only loser Renters are serious business, especially in my screwed-up State, Pelosi's Nephew is the Gov
Comment from : ROBERT DAVIS

There’s a guy on the radio who always says “I can make you rich” “I’m so rich” But you find out that it’s just an education program and you buy a “membership” His name is Del Walmsley
Comment from : Timothy MacDonnell

In the housing crash of 2008, I had to relocate for work Not wanting to sell my place at a loss, I decided to rent it until the market rebounded Even though I was clearing about $500 a month, I never slept well there was always some looming threat that hung over me like a dark cloud Burst pipes, HVAC going out, noise complaints, renters who are always late with the payment it sucked One guys even snuck in a 100 lb rottweiler in spite of the "no pets" agreement That dog destroyed my wood floors Another guy threatened to sue me because he dropped a jar on his foot and broke his own toe (He thought I should pay his medical bills since it happened on my property)brOne of the happiest days of my life was when the housing market rebounded and I sold my unit
Comment from : Nona Wolf

real slick Dave real slick Seems like every video he outputs bags on investing in real estate in any type or form
Comment from : blipblop92

Also with the eviction moratorium that was passed during the pandemic, that was extremely hurtful to the property owners The banks, (like the tenants) were completely off the hook Yet, they were still foreclosing on the poor landlords who couldn't pay the mortgage, due to tenants living for free brI'm never getting a mortgage again!
Comment from : Gen X Murse70

Tik Tak … :)
Comment from : Sahara K

Did my first flip in 2018 made 50,000 haven't found another perfect deal since but I'm waiting patiently
Comment from : Goose

Thank you for calling out the wanabe flippers It is so annoying
Comment from : A J

PhD in D U M B 😅
Comment from : Sergio Cortés

Did I miss something? He didn't explain how he lost those properties? He said some contractors bailed But on one property Did that happen to ALL his properties?
Comment from : Armand M

We had a carpenter who was a big roller building spec houses like 30 years ago and one of my friends who was a carpenter said he was doing it on too small of a margin When there was a slowdown in the economy, not a crash, he was done He ended up selling about everything My friend as gone on to be general contractor for some commercial projects in addition to residential work
Comment from : Joe Pfeiler

i think you need to make these mistakes in any business in order to learn it's like either paying a college $100,000 to get a business degree and write essays about starting a businessorusing the money and actually starting a business and learning on-the-job
Comment from : L M2

Dave Filled Bankruptcy but tells others not to 😂 File Bankruptcy folks so it clears the debt! Even Dave says you don’t need a credit card !
Comment from : Big Red

Funny
Comment from : I’m out of the office

As a landlord I watch these TikTok videos and just laugh my butt off I know better These BRRR guys for example , are one mistake/incident from bankruptcy The numbers they post are made up, both gross and net brbrThe trick to real estate is to buy CHEAP, and ignore the real estate agents
Comment from : Shane Stanton

I learned my lesson with $50 I brought $500 at the age of 18 to a storage unit auction I bought a unit for $50 The unit had a dresser, bicycle, a dryer, and a handful of clothes My next issue I realized was how the hell I was going to sell everything After all the time I put in, I figured I would be making like $1/hour I quit that business right away lol
Comment from : Zach Jones

The key to ensuring profit on the flip is properly executing the 1031exchange Botching the 1031 process means a big tax hit; executing it properly means eluding the tax hit
Comment from : L A Boyko

Anyone on this thread who has flipped and/or is flipping houses - how do you get the funds to buy and rehab homes?
Comment from : Jeff G

😂 Dave talking about bad neighborhoods to a black Awkward
Comment from : MikeTheYungGod

I love when Dave says tik tak 🤣🤣🤣
Comment from : Andiclemenza

That’s a backflip
Comment from : Erdal Yavuz

Good old days over!!! Making money 💰 🤑 💸
Comment from : Flynn Franklin

Not the jet airplane 😂😂😂
Comment from : Richard Galvan

Financial advice from a guy who can't add and he got a start getting loans Whaaat!!!
Comment from : Isaac33Noles

Yea but the Lifestyles Unlimited guy said everyone can become a millionaire in 4 years doing that
Comment from : David Lundy

I'll stick to the stock market LONG TERM!
Comment from : Ken S

Flips are super hard best thing is buy cash free and clear and only get a house with minor things fixer upper cosmetic and do it yourself Otherwise better to work a high paying job
Comment from : Molly

Thanks for being so transparent! Everyone sees success but rarely know the failures! Love this
Comment from : Al-B Sure

Real estate was always too much cash flow for mebrI rented and put the extra cash into cash, 401k, and IRA accountsbrI was blessed to retire financially free at 62 in 2020 thanks to the Bible, Dave, and others who taught me to manage money well
Comment from : CauseAndEffect

Haha, thats what u get for trying to get rich fast
Comment from : Cyclops

Billionaires would laugh at this
Comment from : Jerek

Dave: You don’t get rich off leverage brNobody: “how did you get rich Dave?”brDave: umm not leverage brNobody: can you elaborate?brDave: No
Comment from : Eric

Since when did Hillary Banks start talking to Dave Ramsey
Comment from : Brolic 89

Yes pay cash for a 600k rental property Let me grab it from the money tree David
Comment from : life is great

Damn she is beautiful!
Comment from : BMWLane

But it looks so easy on HGTV😂
Comment from : Brian Miller

Dave had to hire a "diversity hire" to up his esg score The Ramsey Show has gone woke RIP
Comment from : Joseph Perdue

Dave all over the road on this rant lol
Comment from : James D

My dad had 6 rental units, and he did not like confrontation, so if the renter didn't pay, my dad would just set up a payment plan with the renter, and the deadbeat renters took advantage of his humblenesshe eventually got tired of it all, and sold the buildings and the land to an Autozone, who leveled the houses and built a store on the landmy dad did make more than a million dollars on that transaction
Comment from : formula112967