Dave Ramsey Melts 27-Year-Old’s Dream 

He has no money though the bank would laugh at the dude

Yep he already pulled out a loan since he called lol

@@edb484 😆😆😆😆

@@MrTmenzo 😆😆🤣

​@@edb484if he can get someone to guarantee the loan ie his parents a bank will loan him the money. Let's hope his parents have more sense or deep pockets.

Aw, Dave trying to save this baby from a true nightmare. T_T

Facts

😂

Exactly. Just as if you tune into a Dave Ramsey radio broadcast and hear Dave impersonating someone in a southern accent ,it almost always means that he thinks the person is planning to do something dumb with their finances.

It makes my day when Dave calls men “Honey”.

Lmao

Michael: you are right Dave, but it’s a great opportunity, even though I rent off my parents, have a car loan, no assets, no knowledge, and no experience. It’s a long term investment.

Hope that helps ... next caller.

I laughed out load when he said this. Why would he ever call Dave with this question??

Good One!!

😂😂 - Clever!

Pass. The caller is doing it so Dave just gave him a plan that will result in the owner selling to someone else.

Lol 😂

Papa pulled out the ice pick straight away.

🤣

I thought the same thing. I swear some people today are so full to brain rot they watch shark tank and think it's a real thing

"We have no debt, except for our ......" Then a list of debt follows: 1 car payment, a student loan, 3 charged off credit cards in collection - but those don't count cuz we don't make no payments on them, etc.

@@parochial2356or they don’t count because its “good debt” or “good interest rate” 😂

@@thisoldbelair I think Dave would say something to the effect that "The only good debt is paid off debt." 😁

@@parochial2356 agreed 😁

We eat healthy minus the morning breakfast I have at McDonald’s every day

...then the parents will bail him out.

@@Songbird36able I grew up as a trust fund baby. My parents trusted me to FUND MYSELF. 😂

@@Songbird36able No, taxpayers will bail him out. Biden will come out with something for losers like him.

@@komradkookoo Biden has never come up with anything. He won't start at the age of 81.

​@@TXMama😂😂😂 same

Hillarious😅😅😅😅😅

What could possibly go wrong?

​@@bruceellenburg429 a heatwave 😂

He'll run for President one day once he becomes the top ICE mogul

It's more like when you don't have a plan or vision of your own, you are succeptible to scam artists and hustlers who trick you into the idea of easy money. There's a reason his owner is trying to get out of BOTH the ice business and landlording. And he already KNOWS what he's doing. You don't.

Early 20s maybe definitely Not by your late 20s

I did know everything. Now I'm old and dumb and I don't like it.

@@kinked_chrome1438 oh dear some of these responses make me giggle, but I must be quiet as it is early morning here.

​@@kinked_chrome1438I don't either

A grown adult still living at their parents house and trying to get a loan for $1 million has been watching too many Tik-Tok videos; online courses in delusion.

Bruh... 🙄

While living at home

Caller: But, but, uh there's always an exception to going into debt, isn't there Dave?

And the credit card!

That’s what I’m sayin. What is wrong with people?

And apparently mortgages aren't debt either according to some.

Mortgages are only debt in the most technical sense. Almost everyone has to pay for their room & board…you can spend X amount renting a place or you can spend X amount and own an asset that appreciates in value….you’re going to pay X anyway might as well own an appreciating asset.

soooo many people start businesses like this, it's tragic

Indeed.

Yep

🤣

There's some truth to that. Can definitely be worth it though, especially after it's built and running smooth.

@@talyahr3302exactly. They just see these dumb influencers and don’t bother to think about the process they went through. Social media is a wrecking ball to the mind of humanity

I bought out the owner of a business where I worked for 8 years. I owned it another 12. I was 48 at the time with about 25 years work experience on top of all of that. I was the last person to get paid every month. I worked 11 hour days and another 4 to 6 hours on about 40 Saturdays a year. This kid has no idea the level of commitment owning this business will require. All he sees are the benefits, not the work required to secure them.

Be proud of that. This is why America is great. He’s ambitious and knows he’s too excited. He made the effort to seek advice from Dave. Gotta remember young ones have no experience

Yup. Pretry much all cases of being successful as your own boss requires more work, sweat, and tears than most traditional bosses' require.

Except that it's a side gig now and he works for his family. How much time will he have to spend doing that?

Why? She married him??...I've been saying it for years. You judge a woman off the man she marrys😅

It's possible in two years time he will be successful in the Ice business. I always have to wonder "why is he selling the business?". There has to be a reason. If the owner is an old man and just wants to retire, OK, it's possible it's a good opportunity. If he isn't OLD, there has to be a reason he wants to get rid of a "successful" business. Before he even considers it, he needs to take a serious look at the books to see if the business can pay back the $ million. Not just current year but the previous years as well. Have the profits been going up every year? Or have they been going down year after year? I'm not sure he's ready to run a business.

@@rolandhansen812 Even if it works out, this caller taking out a million dollar loan is foolish if not outright insane. If I bet my life savings on black & it happens to hit, I'm still a moron.

​@@rolandhansen812This. I'm going through something like this right now. Reconnected with an old friend about partnering in a company we were set out to launch 4 yrs ago. Pandemic happened, it would have required me relocating halfway across the country so I didn't end up doing it. Fast forward, the company did launch and the person in the position I was going to take has now left the company. My friend and I decide to team up, and I'm hired. Three days on, they decide they need to shut down with no warning whatsoever. Huh? Thankfully I haven't relocated yet. Finally the beans are spilled, come to find out the company bank account is frozen because of a litigation issue unrelated but the banking was incorrectly set up from the beginning and has founder's personal bank account tied to it, so it got frozen with all their other personal accounts. It's a seasonal business and they thought they'd be able to run it just on the (potential but not certain) money that would be coming in this year. Whomp. Did not see that coming. Moral: there is ALWAYS something going on when a "successful" business wants to sell. The fact he has no idea what that is is actually his biggest red flag here. If he's so certain he can run this and be successful, he needs to take his experience and knowledge and just start his own business not tied to anyone else.

Dave said no bank will give him a million $ loan I agree

How is he going to run a business if he doesn't even know what debt is?

Most callers are like that: "we're debt free except all this debt we're paying on". I just don't get it.

😂 🤦🏽‍♂️

So many people do that on this show it’s hilarious.

@@Sizukun1 They're doing their own plan and want Dave's blessing

🥴 Probably went bankrupt after a year

I'll bet it didn't cost them $250,000 to buy in to either. Smart kids.

😂😂😂

I still live around home. I run a small business from my home that makes me over 100k after taxes. You sound stupid.

He and his wife live with his parents 😂 Lucky him tho. At least he has that luxury..

With his wife too haha

@@tonytoni1150it isn’t a luxury it cripples his maturity. The guy think borrowing a million dollar when he has nothing and lives at home is a good idea. A adult knows this is not a good idea and won’t happen. A 13 year olds plan.

​@@tonytoni1150was prob banking on his parents guaranteeing his $1m loan with their mortgage.

you forgot to mention "I'm debt free" and then 5 seconds later, "I'm paying of a car" lol

👏👏👏👏

Dave wanted a 24 percent return on his money! Seems high to me...

@@Dave-tz9zxbuying a small business is one of the riskier investments you can make. The higher the risk, the higher the return you would need to make it a worthwhile investment.

@@Dave-tz9zx most business that are for sale are 3-4 x cash flow .250k should be around 70k . and most likely its only 1 guy working at that price

Is this the plot for Frozen 3?

😂😂😂😂

I think that’s the sound of youthful naïveté. Most tech companies were started by these types. Once you get older and gain knowledge, you quickly figure out what could go wrong.

@@mominthe209 when the bank asks for 250K down he will wake up lol

Or maybe he is. Some people can know how to build and price a shelf inside and out, but that doesn't mean they should go start their own shelving business.

@@TheRisky9 very true. Working in a business and running it are two separate skill sets.

@@user-kpkxgtj the kids funny you need 200-250k to get a million dollar loan . and even SBA would want you to have lots of experience to get anything like that and they would want 150k . he hit the b0ng

Exactly what I commented on another post above. I wish I had seen your comment first. But even if it made $100K last year it might not be good. If it made $120K the year before, $150K before that and $200K before that. If that's the case, it's a dying business. Run for the hills. If it's the opposite, then maybe you should take the opportunity. There is way too much unknown to say one way or another. Maybe Mommy & Daddy will loan him the million bucks since they have a successful business.

I could easily see this being a very profitable business, but the fact that he doesn’t know the numbers before he thought to call Dave Ramsey to ask about $1 million in financing proves that this kid has no business being the one to run it.

@@adamseidel9780 Yup! Asking the questions in the wrong order can be as bad as not asking at all.

Just pay the 12 year old in V-Bucks for his mudpie business

I think his boss wants to take advantage of how naive he is. He is not doing well and wants out. The callers parents probably have money.

They are cherry picking the callers. It's all outrage bait. There's basically never a normal caller with a normal question anymore.

@@LovesGrillingif you go to Ramsey’s old clips from 3-4+ years ago, you could actually learn something from the various people . These days it’s just planted calls and useless idiots calling in.

@@luisvigo3777yep that’s where the gold is

But he is 27 and dumb. Probably not hard to find dumb people.

It’s good to have a non relationship call.

Well bro, that’s better than most parents who pass on debt and trauma to their kids.

I'm sorry that happened to you. I hope you're getting the help you need

I hope you can heal from all of that. Sorry that happened to you.

That’s better than most parents who tell their kids to go to useless college, get into useless debt, to then get a shitty office job.

Why not? I think because of that, he’s gunna be in better position than most if he was saving up his money

Not necessarily true. It all depends on his current income, being which he lives with his parents and only has a car note. His dti should be low, his credit score and being which he would also be interesting into real estate. They would use a percent of rental income as earned income to help help qualify but I could be wrong

Stupid logic

​@reese85 The kid has no track record. When a bank lends a large sum of money to someone with no good track record, and that person defaults, it's the banks fault, in my opinion.

@@GAFB1122 I had no track record but auto loans and I was approved for $500k for my 1st property

@GAFB1122 I had no track record besides auto loans and I was approved for $500k for my 1st property

5:43

More think it's the mute button as seems like he still talks to them just doesn't give chance for them to reapond

He should have a big red button with a gong sound there 😂

It's a mute button. On some of his clips, he will mute and then unmute later cuz he wants to ask another question.

@@DoctorSmartyPants gotcha. Still satisfying though. 😅 I assumed it was a hang up button because most of the time, you don't hear the caller afterwards / he presses it near the end of a call.

I suggest working in someone else’s business in the same field. No risk of your own money.