No video
I Have Money All Over The Place, How Do I Get Organized?
Рет қаралды 47,954
Күн бұрынI Have Money All Over The Place, How Do I Get Organized?
Nix the guesswork and scrolling. We’ll connect you with investment pros we trust: bit.ly/3kwqrhf
Listen to how ordinary people built extraordinary wealth-and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, George Kamel, Rachel Cruze, and John Delony.
Watch and subscribe to all The Ramsey Network shows here: www.youtube.co...
@BagsNBaguettes_327 2 жыл бұрын
42 years old: debt free and 190k + 160k in rental houses, 72k IRA, 120k mutual fund, business 70k and emergency fund 60k. Household income 80-120k. He’s doing well! Most people would spend all that money and have 100k in non-mortgage debt.
@TheTurdballs420 2 жыл бұрын
NEWS FLASH: If you owe 300k to the bank for anything, INCLUDING RENTALS, you are NOT debt free! 🙄
@bee12355 2 жыл бұрын
He is still in a good position. Just need to clean things up a bit
@TheTurdballs420 2 жыл бұрын
@@bee12355 just needs to pay off $300k to the bank. No biggie 🙄
@davidhepworth3956 2 жыл бұрын
@@TheTurdballs420 Yes, he owes 300k in rental ‘debt’ but the income he’s getting from the rentals is paying down the mortgages and he can invest his money at 10% a year. Ever heard of good debt before?
@BagsNBaguettes_327 2 жыл бұрын
@@TheTurdballs420 no need to yell, I can read. Troll
@jb111082 2 жыл бұрын
My wife and I just paid off our home, so we're debt free now!!! YAY!!!! Next step, building that emergency fund and going wide-open on college funds! It feels so flippin' good to get that mortgage out of the way.
@lkj0822g 2 жыл бұрын
This guy is in good shape and he recognizes he needs some organization. This guy has three rentals and a business. He's getting pulled in four different directions every day. That's just life as a small businessman.
@marilynpiemontese9128 2 жыл бұрын
YES! I'm well-meaning but no plan. Today my husband and I spent the entire day creating a document with all of our retirement accounts, HSAs, insurances,etc. On to the next thing!
@Cwilly13ify 2 жыл бұрын
On no Planet do you pay these rentals off. He's positioned himself well because of leverage and discipline...keep doing that.
@Monipenny1000 2 жыл бұрын
Caller has $350k debt in real estate loans and a combined savings of $320k and Dave says "Good job"? How is that different than borrowing $350k just to pocket it after losing $30k in fees? I'm in real estate, I don't have a problem with mortgage debt for those but I didn't start saving money until I paid almost all of our debts off through debt snowball. I did that before I heard of D. Ramsey. I have combined between two loans about $50k, I can pay those off and will soon. It wont put a dent against my reserves. I am happy for this caller though, he's deffinitly on the right track. Just don't over leverage, I hear a lot of investors doing that and I cringe.
@LifeandLifeMoreAbundantly 2 жыл бұрын
agreed, hopefully the value/rents are well above the costs. Baby step 6, Dave advised, move to pay those off, though not gazelle intense, be intentional with a 3-5 goal.
@dashmow9809 2 жыл бұрын
Let the 120k grow and let the renters pay off your rentals
@b.cdrisk2035 2 жыл бұрын
Sell the house you owe the most on and then use whatever is left to pay off the one you owe the least on.
@drhoughton5481 10 ай бұрын
I like this one. hmmm house much pos. cash flow does the mortgaged rentals do?
@ClaxtonBay123 2 жыл бұрын
There's nothing to do here. You're trying to shuffle the deck chairs.
@saulgoodman2018 2 жыл бұрын
Your rentals are your business. You do not use personal income to pay your business. You use the rent to pay the mortgage.
@biskit7 Жыл бұрын
Yoyo.... Represent Newark!!!!!! Keep up the great work....
@gtmaster3031 2 жыл бұрын
$14,400 per year mortgage. You pay 160k and wipe out the mortgage, it will take 11 years to get your 160k back. Terrible return, don't know why Dave would suggest that. Let the rentals pay themselves off with the tenants.
@davidhepworth3956 2 жыл бұрын
Do not pull 120k out of a mutual fund to pay off a rental! If anything go and refinance the rental to invest it!
@marvinlopez9287 Жыл бұрын
Should you withdraw from your 401k to help get the 20 percent of a house / co op? If you don't have any debt
@adam.vision 2 жыл бұрын
Real estate is not liquid. But it does provide cash flow.
@disneydad2514 7 ай бұрын
No reason to pay off a property if you’re locked in 3% or below. Take the cheap money
@tonygiles1841 2 жыл бұрын
Proving that even people with money haven't a plan how to manage it properly! Makes all of us on average salaries far more knowledgeable...
@musicpro7278 2 жыл бұрын
I wouldn't say that
@stephanieharries7746 Жыл бұрын
😂 the times it's the substandard rental properties that cause animals to have problems I rented several apartments in with my cat or my dog or both and the apartment was so filthy and nasty and the other house that you know it's not out the cat didn't like it and cats and dogs like clean areas so people need to rent pet-friendly places that animals would enjoy look at Motel 6 I mean I know it's a motel but still they know how to make sure everybody's happy so I think a lot of times it's people the pink camels like clean environment that's why they prefer to be outdoors cuz it's cleaner Outdoors it's not the cats it's the owners
@dylankramer9249 Жыл бұрын
Comment
@TheTurdballs420 2 жыл бұрын
So Dave doesn’t have a problem with this guy having 300k debt for rentals but gets upset when people don’t pay off their 3% mortgage and invest in the S&P? Hypocrite much???
@TheDjcarter1966 2 жыл бұрын
It's because they are rentals...if things go completely upside down it doesn't matter the guy has a place to live (his primary residence) and he can sell those rentals since it sounds like he's got lots of equity already in them.
@TheTurdballs420 2 жыл бұрын
@@TheDjcarter1966 sure because housing bubbles never happen right…right? Oh wait, 2008 just called and wanted to say sorry for crushing your ridiculous theory
@jml9550 2 жыл бұрын
@@TheTurdballs420 I agree with you, I have 3 properties paid off in the Bay Area here and bubble does not effect me one bit, the 2008 fiasco did nothing to me either. Sure properties value went down but I was able to ride it out since I have no mortgage.
@TheTurdballs420 2 жыл бұрын
@@jml9550 I would think by now, especially living in California, you would know you don’t own anything. The government can step in at any time and say your tenants can stop paying rent while continuing to live in “your property”. That’s commiefornia for you
@jml9550 2 жыл бұрын
@@TheTurdballs420so I should expect the National Guards will show up one day and seize all my asset? BTW, the eviction moratorium was issued by the Fed during the pandemic and not the norm.
@randymorrison1761 2 жыл бұрын
"if the renter was gonna pay if off they would own it."
@martinfarrow2825 2 жыл бұрын
Balloon 🎈
@catlady2795 2 жыл бұрын
I wish I had money all over the place!
@djpuplex 2 жыл бұрын
He needs $2.4 million to be financially free to make $96k/yr probably less to keep his lifestyle.
@manny6020 2 жыл бұрын
The reduced expenses and increased cash flow from eliminating his real estate debt may be a faster way to financial independence
@jml9550 2 жыл бұрын
So I am financially free? 3 properties here in the Bay Area worth $3.5M all paid off. Making $200K at 49. But I don’t feel comfortable yet living in the Bay Area though.
@djpuplex 2 жыл бұрын
@@jml9550 You shouldn't in commiefornia.
@jml9550 2 жыл бұрын
@@djpuplex I hear you, but commiefornia made these $3.5M for me.
@LifeandLifeMoreAbundantly 2 жыл бұрын
@@jml9550 count your blessings and move to a red state :)
@CaseyBurnsInvesting 2 жыл бұрын
Zero risk taking this advice.
@ryder7634 2 жыл бұрын
Investing in today is priceless because tommorow isn't promised, trading Bitcoin, gold , silver and Crypto secure a better Tomorrow
@markJohnson-kk1hn 2 жыл бұрын
Most intelligent words I've heard
@chrisgarrick6243 2 жыл бұрын
Crypto is the new gold
@ryancolton8215 2 жыл бұрын
I wanted to trade crypto but got discouraged by by the fluctuations in pride
@Santos_12 2 жыл бұрын
That won't bother you if you trade with a professional like Mr Joshua Maio
@andrescox2329 2 жыл бұрын
I heard that he strategies really good
@youngedwards3265 2 жыл бұрын
The caller is doing fine for his age but is not debt free. His net worth is actually negative $ amount.
@jml9550 2 жыл бұрын
I have 3 paid off properties here in the Bay Area. Let me tell you, having no mortgage is great. Rental money just flowing in every month and all I have to worry about is property tax and insurance and repair.
@alexorellana3602 2 жыл бұрын
I'm sure he has equity on the two rentals in addition to the two paid off properties. I don't think he has a negative net worth by any means
@ifeanyiokwuchi1384 2 жыл бұрын
His Networth is definitely not negative. He owes 190k on a rental house but there was no mention of what the value of the house is. Might as well be worth 500k. Same goes for the 2nd mortgaged rental. Now he also mentioned having a 3rd rental which is paid off and a paid off primary residence. So this guy could easily be worth $1.5 Million or more
@stephenedwards9341 2 жыл бұрын
Everything was good until the baby....😏
@jamesjodon7038 2 жыл бұрын
I can help you with that problem! I’ll come over to your house with a wheelbarrow and take that cash clutter off your hands for free!
@mattlaeff724 Жыл бұрын
Realizing only rich folk call this show -
@BobbyCommas Жыл бұрын
Having money al over the place is better than having laundry all over the place. Must be nice.
@thecurrentmoment Жыл бұрын
The best way for you to transition to a wealth mindset is to leave money IN your laundry, and then leave your laundry lying around. Then all you have to do is get rid of the clothes, and hey presto, you have money lying around everywhere
@BobbyCommas Жыл бұрын
@@thecurrentmoment Technically, if you leave your money “in your laundry” then “get rid of your clothes” then you would get rid of the money too. Let’s try to think these things through before we say something dumb.
@thecurrentmoment Жыл бұрын
@@BobbyCommas that's true, although you have laundry lying around you probably wouldn't be doing laundry. I was more meaning that if you ignore the clothes or take them out of the equation, then you are left with money all over the place
Jay Shetty Podcast
Рет қаралды 1,8 МЛН
Lewis Howes
Рет қаралды 4,9 МЛН
Ramsey Everyday Millionaires
Рет қаралды 155 М.