I’m Begging You Not To Do This 

You start somewhere you clown. You’re a classic Ramsey sheep. I did exactly what Cesar wants to do and now I have 11 properties, 2 million dollars in equity and have been a landlord for 10 years. I’d recommend it to anyone.

😂 Right.

That's how you can tell he's just a kid. He's smart enough to have called and seek the opinion of someone who knows better. I hope he's as good at taking advice.

When someone lose their job, he's not going to have extra money to make the payments on the home.

Yeah just needs to slow down lol

I mean for some it is and for others it’s not. We experience things differently

I good tenant doesn’t mean it’s easy. Trust me. 1 bad tenant can break you.

It’s easy until: turnovers, nonpayment, damages.

It can be if you find the 1 in a million, but good luck with that 😂😂😂

when there are no renters what do you do?

1000 Said renter, would you rent out to him again

I didn’t think about that,

Do it Cesar. The risk is worth it. Worth 2 million now and have 11 properties and didn’t exactly what you said you want to do.

Check out this guy named Flash Gordon!!!!! He got his Moms squatters out legally- in 2 days!!!!!

Took six months to evict him, he wasn't paying, and guaranteed you were still responsible to keep the utilities on while that deadbeat tenant was living in your property.

🎉

You just think all tenants just don’t pay rent because he’s 20 and has rentals eventually? I did exactly what Cesar did and I have 2 million in equity and 11 properties. You are a classic Dave Ramsey sheep

@@19hundoc47You’re not a real person

​@@19hundoc47how much debt do you have?

How much total debt do you have to go with that equity?

Not necessarily, it just depends on the situation.

banks only give loans when they know they are gonna get paid or have figured out a way to steal your shit

@tsaunders4684 Yes it does. Their actuaries have run all the scenarios already. They definitely know what has a chance of succeeding.

​@tsaunders4684 Nope. Banks will already lend you more than you should borrow. If they won't lend it to you, then there's too much risk. That's what makes your plan suck. We're not saying it can never succeed.

@roadrunner9622 Yeah it's unfortunate. When I started my business 7 years ago, the Credit Union only wanted to offer me a line of credit for 20k. I took it but luckly I never had to use it but it's available if I ever want to play with it.

Classic Dave Ramsey sheep

@@19hundoc47 that has nothing to do with being a sheep. He already in a situation Dave would be against but he is making it work! Why not save more money to get in a better financial situation so he doesn’t have to depend on someone else (not spouse) to get another property?

@@19hundoc47 That's called risk. That is a real possibility and he doesn't have the resources to fall back on if something that drastic happens.

@@19hundoc47 Typical tic tak sheep...

When not if

As long as the tenants pay, on time, there's no big damage and no case of "life happens"...

"halfsies" 💅💅

I'm surprised you don't have to be 21

I noticed that too. This kid is not ready for the deep end yet.

him says that kILLED ME lmfao

Because the internet.

Because he's 20 years old.

Because most of the other times people did this it worked. They forget about the downside risks.

because house value will never go down. people will always pay the rent

Well if you account for risk so hard then you should never do anything. You’re all Dave Ramsey sheep. I did what Cesar did and I have 11 properties and 2 million in equity.

Im 40yoa bachelor. $60k in bad debts!!!!! Renting. Fack my life!!!!! I was partying every weekend for 7 months last year. Blew $25k just partying and chasing girls. One bad choice after another. Smh. 😅😅😅

@@troytruong8246I was a heroin addict for ten years. In and out of jail, couch surfing, felony charges. Turned my life around now I’m married and a home owner. It was a lot of hard work but it’s possible. You got this, just got to put in the effort

​@@troytruong8246dang. Do the hard thing and control your urges. Be a man about it, not a boy.

@@troytruong8246That is really good!!! That is better than a lot of 40 year olds out there!!!

I did what Cesar did and I have 2 million in equity and 11 properties. Stop being a Dave Ramsey sheep

They are probably Hispanics and Hispanics are pretty reliable actually.

My tenants made it through cvd but then ran into trouble. It can happen anytime.

@@Prophezoradepending on what Hispanics you’re dealing with

I was co-owner of an apartment complex in California when Gov. Newsom imposed the COVID rent moratorium. One tenant didn't pay any rent for 2+ years, which was perfectly legal. Meanwhile, we still had to pay property taxes, insurance, utilities, maintenance, etc. Thank goodness we didn't have a mortgage on the property. California has become so landlord-hostile that we sold the apartment complex.

@@reese85 "doesn't take"

@blackwolf_1_164 - That's it exactly. Only rely on yourself, the one you know you can depend on.

Bo he's not. Because this guy is not taking out hard money loans.

@@jimmymcgill6778 Then please tell Mr. Ramsey he's mistaken. Set him straight Jimmy.

Travis bickle and jimmy mcgill goin at it over here

@@travisbickle1455He tries all the time.

no he isn't. He got his financing and his properties because of his incestuous family connections. Get real.

20 is old man tf you sayin

@@TheWalamala he was pretty clear in what he was sayin

Ya Dave took out a dumb loan that let the bank call his note at anytime. Mortgages aren’t like that guy. Stop being a Ramsey sheep

@@Sizukun1 do you kno why, cuz I don’t think it’s for the reason Dave said it was for.

It is for that reason. He doesn't have any collateral to back another loan. ​@@reese85

@@reese85because of his debt to income ratio. He’s not making much and already has a mortgage. Hes too risky to lend to

@HoneyDooDoo nah it’s not that cuz he doesn’t really have any debt if I remember correctly. He can’t get the loan cuz of how Va loans operate.

@@reese85you have to pay off your existing VA loan to be granted a 0% down payment VA loan again.

Shutup

@@WarrenHenry that doesn’t mean, you shouldn’t take em tho

Ya, and then be too scared to do anything. You’re a classic Ramsey sheep

@@reese85exactly!!

the first step to acquire wealth is figuring-out your goals with heIp of a financiaI pIanner, and foIIowing through with lnteIIigent ideas; you will acquire wealth in no time and also enjoy the decision of managing your money.

I had decisions that grew my finances (gathered over 1M in 2yrs) with heIp of my financiaI pIanner. Living the dream, hoping to retire next year.

Whosoever tries this sureIy acquires wealth. Get to her.. ELlZABETH GREEN HUNTS..

Good I got here. Big Thanks

In Germany they also said Jews weren’t people 🤷🏽‍♂️ I ain’t listening to no German. 🇺🇸 baby 🦅

I great tenant can be a wonderful thing. But, 1 bad tenant can destroy you.

And you need cash for repairs

I own (mortgage-free) residential and commercial rental properties. Anyone who claims rental property generates passive income has never owned any.

@KathleenMcNe it does if you a multi family, especially if it’s mortgage free

@@reese85 Passive income is money that you don't have to actively work for. I actively work for the income generated by my rental properties (which have no mortgages).

You’re a classic Ramsey sheep. I did exactly what Cesar wants to do and now I have 11 properties, 2 million dollars in equity and have been a landlord for 10 years. I’d recommend it to anyone. There’s your mic drop.

@@19hundoc47 So, you're telling us that this plan sounds like a good idea?? Two properties. Two large debts. He's got a measly $13,000 for any emergency here. Sure.

@@19hundoc47Mic dropped in the septic tank. I’ve been a real estate broker for 21 years and started building my portfolio right out of college. If I had it to do over again, I’d have done it Dave’s way and been even more successful.

@@19hundoc47 Your classic survivorship bias. I disagree with Ramsey on almost everything, but fact is their is risk in leveraging yourself with more and more debt, and it DOES blow up in peoples face when everything doesn't work out perfectly. Dave for example had that exact thing happen to him, and he is spending the remainder of his life pretending it's impossible to succeed with leverage because he couldn't do it. You can succeed, you can lose everything, both are possibilities and only morons refuse to accept either as possible.

@@19hundoc47 - all that with a 1/2 brain? Pretty good!

Correct

The live in requirement is only for a couple of years.

Not necessarily but you have to put more money down

VA loan requires no skin in the game...pay maximum interest!!!

@@kl3271 Yes, it does require 'skin in the game'. #1: you have to be a veteran. #2: you can buy down points. #3: I don't think the new version allows you to use it more than once. The old version (mine), you can re-use it over & over as long as it's paid back each time. I've used mine 4x so far and it's a lower interest rate than conventional bank loans, my latest one is at 3.5% fixed. There is no adjustible rate. There is no down needed unless you wish to.

Best comment

I understand the appeal of investing in property, but with $60k, you might want to reconsider. The real estate market can be volatile, and the initial investment often requires more capital than you expect for maintenance and other costs. Instead, why not seek out a financial advisor who can help you double or even triple your savings in the next two years? There are many other investment avenues that might yield better returns with less risk.

Thanks for the advice. I hadn’t thought about the additional costs and risks involved. Can you recommend a trusted advisor who could help me make the most of my $60k?

KRISTIN AMY ROSE is a hot topic among financial forums in America. She's just a search away(on the net)

Thanks for the tip! I’ll definitely look her up.

I wouldn't bother with an investment property until you own your own home. The housing market is inflated af and to cover two mortgages might lead to you losing both properties, just like dave says in the video. Plus, the cost of owning two homes is not worth the risk. Just put your money into the s&p 500 and add 500 each month for 18 years at 11% per year, and you'll have around 750,000. Which will be making 75k ish a year after that. If you also put 500 into a 401k for those 18 years, you'll have around 350k, which can then sit for x number of years until you turn 67 and can access it. You live on the interest of ideally 1m, (up to 44k a year is tax free in some states, probably be like 65k in 30 years) for the x number of years until you turn 67. Then you have the original 1m+ since you're living on interest its accruing, plus the 1-5+ million that grew from 250k in your 401k while you've been living and waiting to hit 67. Also, I didn't add in dividends which would blow these numbers up compounding over time. There's a reason why dave preaches about doing it.

Exactly give him credit for wanting to better himself.

Absolutely 💯

True, but I think Dave just de-motivated him. Poor kid is going to be an alcoholic now.

Is he smart enough to take advice?

He makes $4k. I assume $48k per year. VA gave him (?) a veterans handout of a $156k mortgage (3X salary). He has roommates that covers his mortgage. Here is the problem. He didn't really qualify (conventional loan or FHA) nor has he demonstrated he covers the note on his own accord. Saying he "owns his home" is implying he can pay for it. Earns enough for it. I'm not sure that is true. More like leveraged borrowed money. I think you are overextending his position against his peers at 20. Most of his working peers could get $156k loan and have people pay rent to cover the mortgage. Usually they buy college instead.

@@Mr.Boring_Man what help did he say he was currently receiving and how does it sounds like he views everything as easy, by saying. Being a landlord wasn’t as bad as he thought

@@reese85 because he is trying to take advantage of his uncle because Banks don't let him to buy the peripeties that he wanted

@@reese85 It helps that your current tenants are roommates that are easy to keep an eye on.

@289Mustang67 I’m not denying that and the same can be said. When you live in the same building as your tenants but where’s the help at?

The truth is a lot of people are struggling out there. We are suffering and we don’t know where our next meal is coming from. This caller wouldn’t need to get any help if he had a proper UBI and student debt relief. We could pay our bills and put food on the table. Why don’t Dr. John and Dave want that for us?

He is not always right.

@@jimmymcgill6778 I know but he never changes his principles

You’re a classic Ramsey sheep. I did exactly what Cesar wants to do and have 11 rentals with 2 million in equity and have been a landlord for 10 years. I’d recommend it to anyone

@@19hundoc47 Yeah, and there are people who trade penny stocks and become rich. Problem is, 99% lose everything

​@19hundoc47 and what happens when he has a tenant that loses a job and can't pay rent?

@@mattprater8828 BINGO

We are not saying he is doing well because he wants to buy a second property, we are saying he is doing well because he is young and outright owns a property he is actively house hacking. He is doing well, and is trying to fk it up.

SSI has limits. SSDI does not. Arguably not living off the government. Living off insurance he paid for and is collecting. The government stealing the money from SSI or SSDI doesn't make it theirs...

You’re a classic Ramsey sheep. I did exactly what Cesar wants to do and now I have 11 properties, 2 million dollars in equity and have been a landlord for 10 years. I’d recommend it to anyone. There’s your mic drop.

@@19hundoc47 uh…. Ok

@@FaithandPurpose828 Exactly the response I’d expect from a Ramsey sheep that doesn’t know what they are talking about lol

If you qualify for a loan, you own it and can afford it.

He’s not flipping houses you clown, he wants RENTALS. Do you listen?

SSI has an asset limit that would prevent buying an investment house. SSDI does not have this limit. The current maximum SSDI payment is $3822 a month. Hypothetically, 50% of that is $1900 for DTI. Estimate about $300k loan. That is 2 of the houses the kid bought. I seriously doubt your statement. And somewhat ironically, a mortgage lender CANT deny this SSDI individual a loan when they qualify. So not only might his uncle get a loan, he might be guaranteed one. Completely ignorant statement

Did you own a home at 20? Most young adults don’t own a home at twenty. He is not naive and looking for easy money. He is already putting money away in an IRA and saving. Yes, he has a lot to learn, but he is a go getter. Most people his age are out partying. He is also smart enough to ask for advice. I say kiddos to him and wish him the best.

Bro you wrote this like 10 times ok good it work out for you but look at the odds just read the comments and see you are the only one saying it has worked out like this everyone else has said it failed so the odds say more people fail doing what you did I ain't risking my time and money on something with the odds Soo low good for you it worked out though

That's just his southern accent

And probably coupled with nervousness. Give people a break.

😂

but we all know what he meant. chill!

!!!

Yup, Dave always says, "Never buy a house with someone you're not married to".

You’re a classic Ramsey sheep. I did exactly what Cesar wants to do and now I have 11 properties, 2 million dollars in equity and have been a landlord for 10 years. I’d recommend it to anyone.

You’re a classic Ramsey sheep. I did exactly what Cesar wants to do and now I have 11 properties, 2 million dollars in equity and have been a landlord for 10 years. I’d recommend it to anyone. There’s your mic drop.

@@19hundoc47 so did I. It didn’t go well. I lost all my properties when the real estate market corrected. I ended up bankrupt. Some investors don’t have to worry about market corrections, risk, holding costs, law suits, contractors walking off the job, vandalism and others do. Turns out I was one that did. That doesn’t make me a sheep, but I can certainly appreciate Dave’s advice and I get you too. I have heard it a million times, but when things get tough people like you are no where to be found. I am glad you lucked out.

@@jeffwombold9167 you can get up to a 4 unit house/rental property on a fha loan. You just gotta live in one e if the units for a yr

@@jeffwombold9167 I can’t speak on Va loans but you can definitely acquire rental properties under an fha loan. You just gotta live in one of the units for a yr and it can’t be more than a four family house

@@AmyBethB idk how va loans work but you can definitely get a rental property on a fha loan. You just gotta live in one of the units/house for a yr

@@reese85 VA is primary residency only.

@AmyBethB as I mentioned. I can’t speak on va loans cuz I don’t kno how they work but I do kno a thing or two about fha loans and you can definitely get a rental property on an fha loan.