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	:	392 rb

Our plan is to pay off our home firstbrbrAfter that we will look into rentals
Comment from : @KM_1983

The median household income is $80k (roughly) with the median house cost at $500k (roughly) brbrAfter all expenses, do the math on how long it would take to save up for a rental property and pay for it with cashbrbrDon't listen to this clown; the rich use DEBT to get ahead because MONEY IS DEBT If you want to stay poor, listen to Dave Ramsey
Comment from : @misery_base_garage

I have owned many properties it is ok to get loans on property if you can make at least 500 month or more if you can't make that dont buy it to much risk
Comment from : @countryjim100

Not all debt is bad Dude is living in 1950 and has no idea what he is talking about For ex If your mortgage is $1000 and the rent is $1500, your still making $500 a month and dont have all your funds tied into one house
Comment from : @khalils6296

You can disagree with his emotional logic but in the end paying cash is alot better than taking a loan out an thats obvious
Comment from : @GiftedonesVS

I lived that dream, unless the owner keeps the rental for a long time, the S&P will pay much better…without the headache
Comment from : @combatK9

I love Dave Ramsey but have to disagree with him on this one This family could have purchased a home they wanted and rented both units of the multifamily to pay that mortgage Fast forward 4 years (Dec 2024 today), both of those homes would be worth 50 more, rent would be 50 higher and they would be locked into 2 very low interest rate loans He cost them $100,000's With prices of today it will be very hard for a small family to save enough to purchase an investment property with cash
Comment from : @davidrennaker4409

The most important fact that he always leaves out is that he had 30 day notes and not 30 year notes He says he is a christian but he is intellectually dishonest He is a smart man and knows his advice is bs He is selling snake oil to make money off of people who buy his products,,,,,,,,,,,so that he can pay cash for real estate Google how much he makes from smartvestors and churchill It will make you sick
Comment from : @datruthhurts109

Yeah, Dave lives on a different planet already I have 2 rentals, and we do the "almost Ramsey approach" br1Have a big down payment, br2 pay them off with lump sums quickly, br3 buy more You know if I make 100 mio a year, 50 mio taxes don bother me, (that's probably not true) but I can live of a 100 mio if I make 60k per year, 20k taxes are a burden
Comment from : @jensbiederstaedt8022

Bad advice Keep it If my parents sold their first house we wouldn’t have any rental properties My rule is 40 percent down on rentals Not all debt is bad He’s misleading ppl
Comment from : @315pasha

stupid advice Mr Dave Ramsey You advice people to stay poor and middleclass what a negative energy he is Listen to Robert Kiyasaki and buy more real estate with leveraging and build long term wealth
Comment from : @nabinchhantyal2333

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Comment from : @SandraNelson-r6o

Didn’t age well
Comment from : @clayramsey019

Sorry Sensible Leveraging is the way to go Buy with cash? On the what planet?
Comment from : @cobbysparks9891

So glad I found your channel, your videos are always so helpful
Comment from : @AllenTmacDaniel-u3g

Its impossible to save cash faster than properties appreciate in some markets The earlier you get into an investment the better
Comment from : @paulleonardo4906

Yeah, Dave, who is buying rental properties in the USA those days?? Only you This is insane
Comment from : @KP-ux6wi

Nobody has cash to buy a rental property unless you're wildly wealthy
Comment from : @brettwolven6390

Lol He loves real estate without debt because he got burned like crazy Don't listen to this garbage
Comment from : @kaoticmind09

This is a horrible way to do rentals😂 this may have worked in the 80s
Comment from : @therealtrainor

No way did my multimillionaire landlord buy all his rentals for cash He had 52 single family homes when I was renting under him He also had tons of commercial properties
Comment from : @Piccolo_Re

It's arrogant saying I only buy them in cash Not everyone has that option
Comment from : @Sebastienleblanc7

“Do it in cash” The problem is that most making a modest income it’ll take your entire life to buy a home in cash
Comment from : @RecruitingJunkie

I just want to ask, how many people can actually buy a first rental property with cash?!
Comment from : @karlos475

I feel like Ramsey sets these impossible ass ways to do things
Comment from : @AngelFlores-xj5rj

How do we buy it cash thats the question
Comment from : @DragonatorTrends

Hi Dave, I agree with your philosophy 100 I have a home in Washington which they are responsible for everything and I only visit twice a year since I live in Thailand I also have a rental in Thailand which the renters are more of a pain Does it make sense to use an agency Retired and wondering about just selling it and putting it into s&p 500
Comment from : @mikehoskins2590

The world operates on creditnot cash There's nothing wrong with leverage, it's over leveraging that gets you in trouble
Comment from : @kennygsmooth83

So I have to save up 350,000 dollars? Instead of someone els paying my debts?
Comment from : @bobjones6468

Nah, nothing wrong with having rental properties with a loan on them We all cant just run out and buy shit with cash Dave All his advice is for people that have a bunch of money, like him Easier said than done when you already loaded! Get real
Comment from : @samwaldfogel2246

The way I see it is most people that want to get into real estate aren't able to according to Dave if they aren't already financially stable Makes sense, you'll just stay broke and the rich will get richer
Comment from : @cpowerdesign

I appreciate a lot of Dave’s advice but this is not his strong area Sorry Dave you are not a savvy investor You are speaking from a position of your personal trauma Too risk averse for me
Comment from : @thomasvanness7810

Dave is so out of touch Typical millionaire boomer who doesn't understand the economic environment most people are living in Pretty out of touch to say "you've got plenty of time Lol
Comment from : @thadhansen5514

Does this apply in Toronto 😂
Comment from : @jameskearney1185

Good wisdom and answers a lot of questions that have been plaguing me lately
Comment from : @escherita

I disagree
Comment from : @miracle5115

Hey Dave, how can average human being save two thousand dollars a month for 10 years to pile up only $250,000 to buy a rental property, are you hearing yourself? 😂 not even a single millionaire pays cash for investment properties, everyone knows that debt is the way rich people live… stop misleading people
Comment from : @igorturko3585

Back in 2007, during my time working in real estate, I witnessed people purchasing newly built homes from builders with the plan to sell them before the closing of escrow to another buyer for a profit The crash hit hard and fast, and I vividly recall many of these units ending up foreclosed upon, with the builder's plastic still covering the carpets
Comment from : @NicholasBall130

This is terrible advice Seems like uncle dave doesnt want anyone buying houses so he can get them all 😭
Comment from : @AngelRodriguez-ty4ki

So many people love debt and love to cope with it, that’s wild to me
Comment from : @Swamp_Shenanigans

I live in Toronto, houses here are unreachable Everything is over the million I can only buy a house for investment, thinking to buy one in Florida but not cash I think the same rule does not apply for everybody, because if I dont have the money to buy a property giving 100 of the price, I think is a good idea to finance a house and rent it I don't see other way around
Comment from : @wheatfieldproductions1564

Buy rental properties SUBJECT TO I bet Dave would really hate that idea 😂😂😂 Great way if the property cash flows
Comment from : @dbdb4962

Leveraging debt is a great strategy if you know what you're doing I have leveraged a lot of debt and own over 100 units in California The way properties appreciate in CA, my portfolio will only get bigger with time I recommend people to start with a duplex and trade up as fast as they can, adding value as they get more properties
Comment from : @jasonjosephlee

What bad advice lol keep the house and buy another and someone pays the note
Comment from : @Chomchomz

bro stated the most obvious facts i don't know why i watched this video
Comment from : @FakeAre

What's the best way to manage rental property repairs Dealing with appliance break downs, plumbing problems etc If your are not a Handy person yourself?
Comment from : @gary-gilbert

I feel like dave needs to do a current version of purchasing a rental property 2024 edition Houses are no longer eighty thousand for a three bedroom People cannot afford to save cash for houses that are so expensive to avoid debt The understanding is there, However it's Unrealistic
Comment from : @SILLYHLLBLLY

I dunno…if you can get good cash flow on good property in a good market with equity building projects surrounding it, cash or not, assuming normal depreciation, the prop will pay for itself
Comment from : @JossinJax

My situation is different I paid off my mortgage in 2020 My parents own property out of the country and live there and here in the states hybrid I am not married Therefore, I can rent out my home for $2,000 monthly while living at my parents' place since their living arrangements are to live hybrid So far, it's working out for me I don't mind living with them a few months out of the year If i was married, yeah, no Lol Hopefully, this arrangement will help me save cash for my first rental So far, i have $80,000 and have $320,000 left to save with these current prices I plan to buy similar real estate in good neighborhoods I refuse to buy property in lower end neighborhoods! Paying cash is NOT easy 😮
Comment from : @armandoweckmann5699

Yea during your young years, when half a year of income could buy you a house, not the case anymore
Comment from : @varindersra

I have to disagree on this, 90 of us trying to buy properties dont even have 10 for a down payment If you do your homework right, and number add up, there's nothing wrong with financing a investment property 1 rule
Comment from : @Melodicluis

He said if it didnt work for me, it wont work for you
Comment from : @Switchcollector

Long time listener to Dave and I apply his principles to some parts of my financial life In this instance, If I would have listened to him I would have lost out on some of my best investment properties that have appreciated well over $1 million dollars
Comment from : @tampaed

This was a good video- thank you for sharing Do you think it’s possible to property manage out of state ?
Comment from : @mscoffeetime7788

Only stupid investors use their own money brIt’s easy for him to say pay cash when he has 100m in the bank brPaying cash for a rental property is safe but stupid and when you don’t have 100m in cash you cant afford to be stupid
Comment from : @austinharrison8430

Quite possibly the dumbest advice I’ve ever heard from Dave This is horrific financial advise using your own cash , not a scalable business model
Comment from : @DennyMears

His debt avoidance is illogical Debt helps you leverage the most valuable thing you have, time Multinational corporations all have debt Are they dumb or is Ramsey wrong? You decide
Comment from : @urmomsh0use

Ramsey's da man Keeping people off usury
Comment from : @ebaybasuki

Worst advice ever lol - how are you going to buy everything with cash? What are you smoking? By the time you save the cash to buy 1 the market would have increased in value by hundreds of thousands!!!!
Comment from : @dimitrihaikalis4095

This is the one thing i disagree with dave on As long as the roi is good enough it is okay to mortgage rental property They build wealth by using other people's income rather tha your own I have 5 rental properties two are paid off but the other three have mortgages They make money and build equity
Comment from : @alanswanson5642

TEACH ME YODA LOL
Comment from : @NicholasVaccariello-pr2cg

I leveraged my first home in 2019 to rent it out and put a down on my second home Best decision I ever made Yes we need to be smart about it and give ourselves some cushion if things get bad Nothing wrong with leveraging your home and than to rent it out
Comment from : @maxthefrenchie-productions

Extremely ignorant🤣! But he gets a loan for the podcast set up😂😂!
Comment from : @Quovix1

i feel Daves pain
Comment from : @CryptoCB

Dude cannot buy the same house today So I guess selling his property 3 years ago was a mistake
Comment from : @maddienikki5887

Ramsey has no idea of what he's talking about 😄😄😄😄😄😄
Comment from : @spartan5106

Hope to hear from you Dave I have zero debt I am invested in the stock market a bit over $750K I paid cash to build my new modest home on 55 acres in WY I paid cash for 25 acres in AZ recently and have it set up with a nice travel trailer to winter in I am very interested in purchasing a modular home near me in AZ to use as rental income My financial advisor feels I should throw $50K at it and finance the remainder Her tax strategy is the rental income will wipe out the monthly mortgage payment ( insurance, maintenance fees, property taxes, and possibly property management company fees included) and thus, zero tax on the rental My portfolio isnt "set up" for me to liquidate $200K to purchase this modular in cash inasmuch as I paid cash to build my new home as well as the 25 acres in AZ The rental market in the area I'm in AZ is hot I am concerned about the stock market with a possible soft recession oncoming, possibly offset by inflation and would like to diversify with this rental Your insights would be greatly appreciated I totally trust my financial advisor; I just accidentally hit on your YouTube channel today and subscribed Another opinion would be epic Thank you for your time and consideration Enjoy your videos! Very informative
Comment from : @ljalta

Unsubscribed this guy thinks everyone has cash up the a** to use
Comment from : @Bigtimeinvestor414

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 : @JJ-pf7qo

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 : @dropoutandretireearly1781

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 : @AJMALCOMB

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 : @henrywashington5038

That’s insane Very few can pay cash
Comment from : @alvaritoesquivel875

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 : @Charlie589

Dude sounds like JR
Comment from : @JjGee-m8r

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 : @cjohnson9211

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 : @michaelwagner5453

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 : @Jennifr1966

Is buying a rental property full cash a good idea?? Provided the rent is good
Comment from : @Av-fn5wx

Daves advice is only for 1 of people lol
Comment from : @peterkroeker753

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 : @videosandrehome