$120k is the new $60k w/ the prices we are seeing for everything now 😥

I did become debt free following Dave's advice so my hat is off to him. Sometimes he goes on a rant that turns whacky, but I do have such a soft spot for him and always return for his nuggets of common sense advice.

Dave has so much wisdom and the older I get, the more I see everything he says makes so much sense!

I agree- if he’s not going to be there- no sense of having the headache of a house he’s never going to be at.

Dave gave good advice to hold off on this young man’s home ownership if you wait you can buy your house cash in the future, and if history repeats itself at a lower housing price than in 2022.

I needed this video!

It’s so true, so many broke people would say “ buy a home !” “Buy a home!”.. not worth it with his situation

Best advice EVER to a 23 yr old! A outdoor sewer pipe to the bathroom might have to be replaced - $10k! Shower may stop working - had to pay $600 to replace that plumbing from where the water entered the house, clear to the middle of it where the bathroom was. 80 hornets built a nest in my garage - cost me $400 for an exterminator to deal with that. Squirrels broke into my attic vent & built a huge nest & had babies, while I left on Sundays & ret'd home on Fridays on my VP job. Stuff I've never even heard of having to fix! OMG, the fixing never ends, lol. I LOVE renting, and just emailing in the maintenance request to the apt mgr! Love your show!

Bought a house in my 20s now I have 300k in equity.

I bought a condo in my 20s, I’m so thankful because I have over $200k in equity and pay less than most do for rent!!

Dave is right. The Ritz in Buckhead is extremely nice. I was fortunate enough to stay there.

This guy has it on point for 23 years old. He sounds more mature than most 40 year olds I know.

At home four days per month, I would spend that time with Mom & Dad and keep piling up money. Being a road warrior is fun when you are young, a wife and kids at home, not so much.

Why not contine to stay with the parents? Continue to save. And spend time with them as long as you all love an care for each other. They probably love seeing you a few days a month. Life is short.

I was where this guy is when I was in my late 20s. I bought a house and I regretted it. It wasn't the end of the world but I spent too much time stressing out about the house when I was on the road. He's better off renting a small apartment and continuing to save money.

Im about to buy a home, first time buyer. Relocating to another state. Same budget as the caller.

Idk how anyone is willing to buy a house right now. Prices are INSANE

Unless he can buy something to rent out and have someone manage it, keep saving and hustling.

Thank you Dave!!🙌🏿🙌🏿

Why is he trying to own a home as a 23-year-old who is never home? I agree with Dave that he's doing so well and there's no reason to make that move right now.

Not the right time on so many levels. He just wants to buy because he bought into the idea home ownership is a must have as soon as possible and he has a good case of house fever.

Don't rush to buy, you are only 23 and never in the city

My dad has been a OTR(over the road) trucker my whole life. I’m 35. When me and my brother basically moved away at 21ish and started families and etc my dad (single father) sold the house took the money and when he’s “home” or back in town he stays at the nice hotel, visits us, or goes to his parents to visit with them stays a night there. Basically his house is the hotel room or his parents. Travels when he wants or just stays on the road working til he comes back in for a day or two. Nothing wrong with that.

Right now is an absolutely horrible time to buy a home. Terrible. Homes are way way way overpriced. Nothing even close to reasonable.

It’s only going to get worse and more expensive. Right person, right deal. But homes are NOT going down in price. Ever. Period.

Setting up Warehouses....this guy is launching Amazons.

For four days a month, live with the parents when you're in town, catch up, and maybe buy them dinner or do something nice for them. This guy is killing it!

Good advice. LOTS of buyer's remorse coming over the next ten years--if not sooner. I recently sold my home for a huge profit and I LOVE renting for the moment. I may buy a home again in the future, but for now, the no-hassle life of renting is where it's at for me. Anything breaks...one call, that's all.

As a young PM, this was very useful.

Dave Ramsey: “stay at the ritz.” Will do, Dave!

Mom and Dad would probably love to have him visit for a day or two each month. Save a bit on the hotel bill.

Totally agree with you, Dave. People rarely prepare for the unforeseen circumstances when owning a home. AC, plumbing, electrical, roof repairs, etc., etc. Any one of these issues easily end up costing several hundred, if not, thousands of dollars to fix and/or replace. People should be mindful of this when buying a property and have an emergency fund substantial enough to cover any of the potential issues that will inevitably arise.

Absolutely not! We are currently in a housing bubble! Hold on to the cash for a nice down payment down the road.

He'd probably benefit buying a nice townhome and have a property management company look out for him while he's away. As long as he's home four days a month he should be able to use it as a rental property and he has sufficient cash flows, depending how much he wants to put down, if any.

Finally this video geeze!

hey btw if you read this Nabeel, just buy a diesel truck & a camper. all in investment probably 90, but you can definitely spoil yourself so. 150 is an option. it will save you a hotel room, air bnb, etc. son. per diem is all yours.

Lol their answers I’m in the same boat as the caller

I would love to hear if it's a good time to buy in general or not as was the original question he tried to ask? Also depending on the answer for that would it be a bad idea to buy that house as an investment property and have it run by a rental management company while he continues to travel and work while staying at his parents when in town still?

He should buy a house or condo even if he is not there all the time. As for as pipes breaking, just shut the water off when you leave. i live in the midwest and many people go south for the winter & leave their homes vacant. You can hire someone to inspect our home while you are gone. The country has a housing shortage & prices are appreciating. Owning a home is one of the best investments you can buy.

Haha I worked at a hotel and there were lots of people who were living there like half of the time. Felt like half apartment building half hotel.

The problem is that living in hotels gets really old. Even if it's just four days a month it would be nice to be able to go to a house during that time.

I'm waiting until next year to buy just a condo nothing big, nothing fancy just a place I can call home renting is becoming very depressing it's expensive and I hate moving

Who cares about the hotels... I travel for work and have stayed at Ritz, etc... A home is an investment, the sooner you invest the better. At the same time, interest rates are about to increase and this will lower the values of homes. OK DAVE, as a Landlord... yes, something broke... it cost me $$ but i get $$$$$ each month in profits. Owning a home is not a hassle, it is a privilege. WOW DAVE got this one wrong.

Maybe since he is moving all over, maybe buy farmland that he could sell as down payment for a home. Or land he could build on later

I bought my house during the 1980s real estate bubble and 13 years later it was still worth less than I paid. If I had waited just two years it would have made a huge difference.

Dave is right about stuff breaking! I don’t think people talk about how much maintenance goes into owning. When I bought my property I had three different leaks, a plumbing issue, and does of other unexpected stuff. It was a money pit for a while and when I vented to my home owning friends they all smirked like yeah that’s home ownership … well dang why didn’t y’all mention this before I bought lol. Luckily I had a high income so I was able to take all the hits but I can’t imagine dealing with issues and not having the funds to fix them.

23???? He's ON IT!!! I just didn't want to be living paycheck to paycheck when I was 23. I should have lived with my parents longer. I couldn't wait to move out and be an adult (at 17). I was stupid.

In order to buy a home in my area I'd need to put down nearly 50% (15 yr fixed less than 25% take home) and I make more than the median household income here.

How is this kid only 23!

Agree 100% with Ramsey Don’t buy a home if your not going to be there to enjoy it.

I wish I met Dave b4 I bought my house🙁 I’m learn n the hard way

Renting is unaffordable if you have a family

At 23, this guy has the life.

Waiting and waiting on the sidelines for housing crash. I don't want to make the same mistake of buying like I did in 2007. I don't know what to do. Dave Help me.

yes thing break when you own a home but how often does that happen. The benefits outweighs renting, when you own is even in the worse situation is that it forces you to think which repairs are necessary and which ones can wait there are very few repair that need to be taken care of right away(which will reflect in other areas of your life) , you eventually stop the biggest expense per month that average people have, and you have more rights than a renter. But in this case I agree with Ramsey that renting will be best.

Great video

When we're young we don't crave hassle free life..we want to do it all. Even the smarter young people

Dave this is one of the worst takes I've heard you say. What changes from now vs 12 months from now. It's the same situation. Only difference is the prices going up and lost revenue by waiting and wasting money at a hotel in which his comps won't pay because it's his home town. Come on Dave

Pipes wont freeze if you turn the water off ...buy a house..they dont get cheaper if you wait..they get more expensive

People have an over obsession with purchasing a primary residence. I invest first

You know you’re doing it right when papa Dave says you can use room service instead of stay home and eat rice and beans 😩

Lots of buyers are regretting haven bought a house during this rush.

Been waiting for a crash since 2016....... I used to hope for it but sadly I think the next one will be the BIG ONE. Like USD is no longer the worlds reserve currency

This kid seems intelligent and bright with handling his money, should have called David Green from the Bigger Pockets Podcast instead of Dave Ramsey.

What ever you would have spent on the mortgae payments I would put towards Real Estate syndication.

Why not just stay with your parents? As long as they are cool with it save as much as you can.

Guys like him have their finances right till they marry and then their wife spands everything and make them go on debt... 😳😳

I’m at this point, should I buy a home right now in all this craziness….?

This guy should just stay at home and continue to pile up an insane amount of cash.

Today is so much different. People rent out rooms, work from home. Buying a home vs. high rent is better, especially when building equity.

Calls like these are sometimes just fanstasy. 23 years old with 140k? what does he do? ni expenses? ni taxes? What does he make? $130k?

Dave: Only buy a house if you can pay cash. 🤦‍♂️

I would have advised him to get a short-term rental property.

One of the coolest stories of lifestyle I’ve hewrd is from a buddy of mine at a regional airline that I used to be a captain at. He was a new first officer (co pilot) and used his parent’s home as his permanent residence address. However, he was never there. He would work his normal schedule, then pick up extra trips on his days off. On days off that he couldn’t squeeze extra trips in on (either due to legality and rest requirements or lack of trips) he would visit friends and crash at their place, or visit countries in central and South America and stay in hostiles. It sounds like a dream life for a guy in his young 20s that is single.

As good as this kid is doing you would think he had some good parents and in that case he could ask them this question

I couldn’t hear, what does he do for a living ?

IF he can buy a home at a homestead interest rate, keep only one room for himself and rent the whole rest of it out for a profit, hire a rental management company to do all the tenant acquisition to manage it all and do all repairs, leave some stuff at his parent’s, and STILL profit from the rental… then it’s worth it. Otherwise, no way being tied down makes any sense at all.

Always the rush to buy a house and first time buyers (including me) don't realize its about 50% more expensive to buy a house than it is to rent until that mortgage is paid off. Then its just the same price as renting.

He needs to work for two years to qualify for a loan. Dave not mentioning that.

Dave paint one of his nails? Lol

If he doesn't buy a home where does he put all of the money???

Great job.. travels all over for 140 k a year don’t buy a house yet see more places

For my own mental health I would want a home base.

The black nail. What’s with the black nail?

Buy a house, airbnb while you're away

Here i am 23 and still live with my parents 😞

I disagree with you Dave on this one .Why give your money to a hotel when you can own your own home. And then tell him to buy one in 12 months a year from now when he could already own 🤮 his home why give your money to a hotel and pay for somebody else's property? He needs to pay for his own. I disagree with this one. I lived in a hotel once and they didn't even change the linen everyday they said because I'm already there.

This guy needs to buy a nice RV or Skoolie and travel his heart out. If he builds his own Skoolie, when he is done travelling and and wants to buy a house, he has a Skoolie to sell for a nice % of the closing cost. If not, he still has a place to sleep, eat and live in the Skoolie.

I guess I missed the 'why' behind not buying now. He could rent out the whole house and hire a 3rd party to deal with repairs. Property will appreciate with time, and he can sell it for a profit while the renters been paying his mortgage.

Yes buy it right meow. 🐈😺

Wise advice!

Good Advise...

Anybody watching this video, GOD bless your hustle 👍

Yes it makes sense. My house is up 60k in less than a year

This video is not for me. Lemme get my money up 💸

Says the guy who rents properties.

Traveling is the issue... His current job and not married = rent.

Ritz buckhead is very nice… to a boomer! Stay at the JW across the street instead ;)

I had a family member who was in this smart young man's position, and he was surprised to be taxed for 1/3 of his large income because he didn't own property. So he bouth a farm and had close friends rent from him, and that only worked out because his friends were self-reliant. So do take taxes into account for that too.

what about tax benefits/exemptions kid is paying out the ying yang