What Is The Right Way To Buy Rental Property?

What Is The Right Way To Buy Rental Property?
Buying Real Estate

What Is The Right Way To Buy Rental Property?
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  1. Did you just say buy rental property in cash ???? Really, so please, tell us how you would go about doing that ???? How long do you think it would take the average person to save enough money to buy a rental property in cash ???? Say the property is $80,000 dollars, how would you propose that I save that much ???? in what amount if time ???? While still paying on a house ????

  2. Hmm bad advice Paying cash you loose out so much tax advantages….dig into How Dave speculated the market and made bad deals. Buying a good wedge deal in today’s market is a smart investment but you have to be cover the mortgages if you have no tenants

  3. Hi Dave. Can you please address the question of how to buy a rental property. Currently on BS7. What are the insights are requirements of a good rental property in order to be an investment. Thank you

  4. I think you forgot to mention that if they kept their current home and rented it out, they would most likely have tenants pay off their mortgage every month and still have some cash flow left over.
    Debt isn’t scary if you can leverage it. The misuse and misunderstanding of debt is what hurts people 👀

  5. Buying property at market value gives a smaller return then lots of REITs i noticed. But on the other hand investing in REITs you dont need to worry about calls that something broke, missing payments, property damage, looking for new renters and stuff so im more into investing into different REITs. A good diversity at no hassle and have a similar return in dividends…

  6. My wife started in rentals now she's been selling real estate for 8 years. She manages the properties we rent out, we will have a mortgage on those rentals. We make roughly $400 a month on each property we rent out, 15-year fixed. Our primary is also a 15-year fixed. We aren't getting rich off the rentals but we make a little on the side and it's free equity. Having a mortgage on the house you rent can be done but it has to be done in a smart way and it helps if the person managing it is in the business. My retirement goes into the market, her's goes into real estate.

  7. I have 34 properties, all with mortgages. 🙂
    But I’m not stupid like Dave was. Not every one has to go show off with a brand new Jaguar like you did, Dave. I have millions in real estate debt with ZERO consumer debt. Such bad advice here.

  8. I disagree with Dave on this point. I agree that you need the numbers to work (i.e., more money coming in than going out), but you cannot pay cash for a rental in the Washington, DC area.

  9. Am done paying off debts thanks to Tony . He resolved my credit cards and student loans debts few days after we met online. Now I’ve made 9k through his help also. Text him
    Up on 1 2 5 1 2 6 5 3 2 5 9

  10. Dave Ramsey says if you just own your income, own it, and never use debt you’re gonna have financial freedom in your lifetime. IT’S A LIE FOLKS. It is impossible to have financial freedom if you don’t take on debt at some point. In rental property you want to use debt. It’s called leverage. It’ll allow you to scale your business. Every big successful company does it, apple for example. They got so much cash just sitting around but what do they do? They go get money from the Japanese bond market. All respect to Dave Ramsey, but with his advice you will only ever just be getting by.

  11. I wish Dave would explain why he is okay with people taking out a loan for their home, but he's not okay with people taking out a home for a rental home. If you can comfortably cash flow a rental property after putting 20% down, then why wouldn't you. He insists on 20% down payment for your home, so why not for a rental property. A loan is a loan, a debt is a debt. Why does it matter if you live in it or not?

  12. Wrong. Leverage a 30 year loan on a duplex or larger and use the equity to finance another rental and so on and so fourth. Dave been eatin too many rice and beans.

  13. He says he was stupid and lost it all… The type of loans he was taking out were the stupid part, not the idea of using financing. Don't take out loans that can be called in at the drop of a hat and you'll be fine.

  14. You'll miss out on buying any house for most people who arent millionaires if you save all that cash. You are spending more by saving all that cash at the end of the day. I like Dave's 15 year fixed advice much better.

  15. This is a bad call on daves part , you already have a tenant up stairs and you can get another tenant down stairs when you move out. Probably not hard for that to become a profitable rental for you even with the debt on it. You also don’t want to go through the process of selling that home because you will have to lose money on a real estate agent. If you have terrible credit already and the interest rate is bad on this then of course sell it if I cant make money but broadly saying not to keep it at all because of debt on it is ridiculous.

  16. I like the cash approach. It is almost safer and more cash flow and it is urs not the freaking bank. I own my house paid in cash and I have been saving soooooo much bcs i never had a mortgage. I can but a lot of things but I’m ok. Debt free is incredible. God bless all

  17. Dave Ramsey is a smart man, but he is absolutely wrong about this one. Assuming the property does cashflow there is nothing wrong with having a mortgage on it. There is good and bad debt. You just have to do it right.

  18. I don't like the video because it's too short to explain all different scenarios. Leverage is great investment tool, people need to realize it risk and reward to pick the best route. Granted that Dave said don't borrow too much, but he should also says don't be shy of good investment opportunity when you can mange leverage risk and making good cash flow to earn profit.

  19. I would of kept it and live of the cashflow and go to the bank and by other home there no way you can save enough money to buy a home the price of homes goes up every year it take you 36yr to try to save and by a new home dave lost his property because he trying to flip property and the market change on him it safer to buy hold screen your tenant and rent a hold and the main thing is to get a mentor and learn from successful people who did it right

  20. 4 million worth of real estate and 3 million debt are stupid… people need loans to invest in rental properties because need cashflow. if interest rate are low and greater return on rental property then use bank money! paying cash is stupid

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