What Is The Right Way To Buy Rental Property?

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Title	:	What Is The Right Way To Buy Rental Property?
Lasting	:	3.07
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Views	:	265 rb

im in my 30s and thinking about buying rental but this is powerful message I have $50k now and thought about using it as downpayment I guess I will wait until I get 100k
Comment from : J12 J34

BUT DAVE !!!!! What if you can payoff the rental house like any other debt that you payoff ? Once I made up my mind to kill the mortgages I killed 5 mortgages on 5 houses in 8 short years Thanks for the teachings over the years though
Comment from : DROPOUT AND RETIRE EARLY

Save until you can buy a house outright 😅 oh boy With these inflated prices most Americans are running on a treadmill and will likely never own a home unless they make near $100,000 annually w/ zero debt
Comment from : Aaron Malcomb

I not sure if Dave advice is for middle to low class consumers Debt isn’t always bad if you can leverage it
Comment from : Henry Washington

What if i pay off the house im living in California and rent it out and go find a smaller cheaper house to live in somewhere cheaper in the country? Should i not get a homeloan for that, just pay for it with cash????
Comment from : J B

That’s insane Very few can pay cash
Comment from : Alvarito Esquivel

There is a difference between good debt and bad debt The good debt is that you owe money on the rental property, but you are renting it out making cash flow every month The bad debt is that you own a car and you owe money on it It is not making you any cash flow because you are not renting the car out Dave gave him a bad advice His friends even gave him a better advice than he did Even Robert Kiyosaki even talks about good debt and bad debt, why people stay poor and the rich get richer I am just saying
Comment from : Charlie C

Dude sounds like JR
Comment from : Jj Gee

So what you're basically saying is if you're not able to accumulate enough cash to begin investing, you shouldn't invest
Comment from : cjJohnson

Work, save, pay in cash Let the banker get a job like the rest of us! Peace of mind owning it ALL outright Thank GOD
Comment from : Michael Wagner

Honestly, I would sell it and buy a house for your growing family And I'm coming from a place of wishing I could be a landlord
Comment from : Jennifer W

I bought my 1st home at 21 for 87k sold for 197k, 2nd home 170k and sold for 320k, 3rd 300k and sold for 589k and buyers paid all closing costs expenses etc It is possible and very lucrative as long as all steps and details are followed!!
Comment from : Freeman Booth

Is buying a rental property full cash a good idea?? Provided the rent is good
Comment from : Av

Daves advice is only for 1 of people lol
Comment from : Peter Kroeker

There's no way you can save enough money in most major cities to by a property in a decent neighborhood with a good return on investment You need to use banks to finance it but you have to make sure that you have a decent cap rate as well as cash flow with several hundred at the very bare minimum Also you have to look at what the current interest rate is And factor in a month or 2 vacancy to make sure that you have enough cash for germs to be able to cover the cost for the mortgage and utilities for that period of time
Comment from : Andre Takacs

It’s called LEVERAGE DAVE ! Not all of us have millions in cash especially in these markets
Comment from : J G

Nobody had money like Dave wants them to have and pretends they have
Comment from : Brian DeLuca

Or get a renter to pay that mortgage while the house value increases year to year and in a couple of years sell and cash out
Comment from : MARLEN CRUZ

This guy doesn’t give the best advice
Comment from : Vaquera Reggaetonera

What if someone can't afford it
Comment from : Shax Shaw

This is such BAD INFO!!!!! Wtf?!
Comment from : Harold Thatcher

I disagree 1000 What happened to him 30 years ago, may be different from todays market You should base keeping or selling your house based on your own circumstances and things that pertains to your property, such as is it in an area that is growing, are the values increasing at a steady rate, etcbrbrI bought my first house for $103k with a tax value of $124k I originally was going to sell it for the value it increased to, $180k and pay off what I owed and take the profit to invest in a business brbrI changed my mind and relocated to a different state, keeping the property In four years the value increased to $300k Don’t take advice that’s giving on a whim Sit down and think about it and ponder what you think is best for you not how things worked out for someone in a market of 40 years ago from a different location, comparables, etcbrbrMy mortgage is $650 but I’m charging 2023 rent
Comment from : Shac Cooper

Dave I need to talk to you I have a property that I own free and clear that I rent out and get 1200 month all profit I have a property that I have a Mortgage on its worth 250k I owe 90k on it I was gonna sell the rental that I own free and clear and pay off the mortgage for my other home what do u think?
Comment from : Gerald Carter

Idk after reading Rich Dad, poor dad
Comment from : Nic and Carla Vlogs

I love dave, but this is him half the time brbrDave: don’t rent, you’re throwing your money away brDave: buy rental properties, that’s how I’m rich
Comment from : James Ash

Completely disagree, it takes decades to pay off your house Cash isn’t king, cash flow is king It’s good debt because it a making you money on the regular Compare somebody who uses Dave’s method and somebody who uses the right method, at 50 Dave’s method will have a house paid off and no investment properties, person B will have 15 investment properties, 100s of 1000s if not millions in profits, and a huge passive income
Comment from : Vito Corleone

Thanks Dave real talk ❤
Comment from : j christopher h

I agree with Dave
Comment from : Ifenez

Worst advice Not sorry
Comment from : ssshawn0007

I get Dave's point but it's not the way millionaires do things It's all good if you can do cash but in a world with constant changing inflations like we have now it is not smart to do cash
Comment from : Gustavo Moradel

lol I knew before clicking on this that the advice would be insane
Comment from : Frank Sullivan

Worst advice ever
Comment from : Mr B

All that he is saying is that you need to pay in pull before wanting to rent out
Comment from : Nathan Moore

Sooooo how many people out there in 2023 can afford to buy a property CASH
Comment from : J V

We made dave what he is! You have to save a life time to purchase a 1M property in these current times So you jeopardize your retirement get old and your dead with a balance 😂 I don’t listen to him and I’m doing great
Comment from : Albert Vasquez

Wow did this guy just say sell the multi unit and buy a single family house when you can take the equity out of the house use the income from two units to pay both mortgages ????? This guy is old school lost in the sauce
Comment from : Kyle Watson

I am sorry but this advice is wrong There are a lot more questions to ask before making this decision His friends might be right and Dave Ramsey might be wrong Its hard to know without all the facts, but my suspicion is the guy should go ahead and leverage this debt I made over 100k because I did not follow Dave Ramsey's advice and brought a second home and rented my first home 😊
Comment from : Jose Reyes

Facts
Comment from : FastwayIndustries

Rental properties are too much work Buy dividend paying stocks and collect checks
Comment from : Robert Stevens

I love dave but sometimes his not a a good advisor for for poor people How can you pay cash on a house Insane!
Comment from : Eric Burundi TV

he is teaching flipping, not long term investing, there are easier ways! I am getting better at this! Finally, but not perfect yet! Out of the box Thinking! 911 Truth Movement!
Comment from : Christopher Kanawyer

I like Dave Ramsey for personal finance, but not so much business finance If I listened to him when it came to my business I would not be as financially successful as I am It would have taken me 30 years to finally enjoy my financial freedom But there are exceptions to the rule ❤
Comment from : Olivia Johnson

My goodness he gives horrible advice… smh I think he wants to keep people poor
Comment from : Goretti Duncker

Bad advice
Comment from : Targeting on the Pod

Wow i didn't expect that to happen at 1:05 haha Lets take a moment and apperciate all the hard work he puts into the content for us! Thanks for the videos
Comment from : Iphone 14 Free Check About Page

I feel like his advice is out dated This would be great advice for people in the 90’s-2000’s
Comment from : Hxlden

As interest rates go up this makes sense
Comment from : ComeOnMan

What Dave is leaves out it that when he went bankrupt he was taking out short term loans as short as 90 days to flip his properties to save money That was super risky
Comment from : Uel Rogers

Cash lol
Comment from : Anthony Scodes

Disagree with Dave on this one Buy a cheap property when you are young and you pick in a lower interest rate and you already own it Rent it out and buy another one Just make sure you cash flow well on the first property That is what I did and now I own three properties all with debt and I am a millionaire
Comment from : Omar Shahid

🤡
Comment from : Fulltime

Pay cash for a house? That’s not possible
Comment from : Vito Corleone

By the time you have cash to buy rental property, you’re probably about to die My tenants paid 50 of the house that I put in 20 down payment Cant complain when they will continue paying my mortgage for the next 10 years This advice my make lots of people poor
Comment from : Vinh Hang

This NOT reasonable advice at all If you had enough cash fo buy straight up I can find you ten ways to make money on your money with out all the effort of being a landlord Absolutely horrendous advice
Comment from : Johnny Yak

I saved up enough to buy my first income producing property with cash Thanks Dave
Comment from : Orange Sun

Is he kidding? Who’s got 200+k to buy something flat out?
Comment from : 1974 Dodge Charger

Hypocritical advice no?
Comment from : Mike Deufel

More terrible advice from Dave Ramsey
Comment from : Antioch_Aldo

Stupid Advice!
Comment from : Madhu Kashyapa

This is embarrassingly stupid 😂 I hope no one takes him serious
Comment from : Football2RealEstate

Look at the date Dave gave this advice It's bad advice in general but SUPER bad in hindsight
Comment from : David Elliott

Dave Ramsey loves to keep hard working Americans broke! Dont listen to this guy guys, he keeps you out of debt but keeps you broke working hard for little money for the rest of your lives Get into real estate, its the best thing for generational wealth
Comment from : Elite Exposure

It takes an eternity to save enough cash for rental property
Comment from : Cody Gordon

Dave that dum as thing i ever heard you allways going have debt on your property you have taxes and insurance and maintenance what this need to joining local realestate group learn from people who do it successfully and you can have management company and you no the country run on debt that how the world operates
Comment from : Herbert Toney

Worse advice ever!
Comment from : Norfolk Bulldogs

It happened to Dave so it will happen to everyone, this is his logic? Unreal
Comment from : Bobby___Boucher8

I’m sure he’s wishing today that he never sold his house
Comment from : BukLauChungLee

This is DUMB DUMB DUMBy advice brRamsey is trash unless you make really high income
Comment from : jkrichbaum

Yahoo advise, poor guy calling someone with little or no experience in real estate experience Home are not debt, it’s an asset No one will advise you to buy investment properties with cash! What’s the point? Thanks good I do not listen to this junk
Comment from : Make MAGA Mad

I don’t understand why this guy is around … terrible advises
Comment from : 8K Ultra Definition

OMG 😱 why is he talking on past tense saying that he was estupid he is still so STUPID there is actually people following he's advise???? How he can assure that they are all wrong because they are using leverage and taking advantage of tax breaks and stimulus like NO TAX or deferred tax,depreciation and some other awesome benefits that you get when you use debt WISELY, people if you really want to be financially independent invest in yourself and learn our system instead of listening to people or gurus that makes you think that they are helping when in reality they are hurting you more than helping to speed up that process, so learn the system compare the pros and cons of buying cash or using debt and make a smart move to get out of the 🐀 race quick and create a very big and profitable portfolio and 10 years or less
Comment from : Juanse

This was useless
Comment from : Alejandro Lopez

I do have to say that there is so much peace in knowing you have nothing to owe a bank When things get bad and you outright own everythingthere is complete peace knowing the banks can’t come after you
Comment from : Curious Lass

My man Dave needs to read rich dad poor dad…
Comment from : Daniel Pedraza

Dave is 100 true buy cash on rentals !
Comment from : Jake Johnson

This is so contradictory to everything that I've been hearing from all the bigger pockets crew and a lot of rich people that are in their 20s who did the opposite of what he's saying
Comment from : Jackjack1978

I like second opinions 🤣 this guy is living proof that not all financial advisors give good advice lol
Comment from : Steve Hutchinson

I disagree with Dave on this one Keep that duplex rent will no doubt be more than the mortgage
Comment from : Kona

Dave has alot of good advice but this is not one of them
Comment from : Xha Li

I have my house payed off and torn about taking out a mortgage for a rental property, I'm afraid but think I could pay off the rental fairly quickly without even renting it
Comment from : joshua irwin

Probably the worst real estate investing advice you could get
Comment from : Awaken To Truth Michael Smith

This man could have been getting great cash flow smh
Comment from : CAYS HAMMER

Hate to add to the disagreements but I decided to keep my house and rent it out when it came time to upgrade After closing costs I was only going to be making by selling what I could make in just a few years of renting out So far it's been perfect Able to make improvements to the property, adding value, all while still making profit But his advice is genuine in that it's not a guaranteed thing, and it would be easy to go topside if things don't go as planned But my point is that it's definitely possible to do it as long as you know the risks and have enough brains to pull it all together, because it's far from easy Good luck!
Comment from : Dan Temple