Sell Our House to Get Out of $148,000 of Debt?

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Sell Our House to Get Out of $148,000 of Debt?
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5 окт 2024

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Комментарии : 222

@PInk77W1 4 года назад

I would sell the house so fast. There is nothing like being debt free. I make $47k and have no debt and My house is paid for. I feel rich.

@laur-unstagenameactuallyca1587 4 года назад

I'd do the 3 year plan. It's quicker and gives you security. They have a baby, so... I'd be a little more cautious in their shoes if I had a baby too.. idk. just imo

@JamesJamersonIsAGod 4 года назад

Bruh you don't feel rich, you ARE rich. If you have zero debt and a paid for house you're a baller!

@Sombra_Azul_ 3 года назад

@@JamesJamersonIsAGod Facts!

@theIdlecrane 2 года назад

Children do what feels good, that's not necessarily the right answer though

@PInk77W1 2 года назад

@@theIdlecrane there is no right answer.

@spyprism 4 года назад

"The quickest way to double your money is to fold it, and put it back in your pocket."

@moneymaverickstv 3 года назад

@ttr8141 4 года назад

No, you make over $100k. Just stay in the home, live on. 45-$50k, and pay off the debt in 2-3 years. Moving and having to look for/saving up for a 2nd house isn’t worse the hassle.

@JamesJamersonIsAGod 4 года назад

right? They are plenty motivated, paying down $30k already in the middle of a pandemic while pregnant and then new parents? They will be fine, they will likely do even better next year.

@brianafranklin8164 4 года назад

You just had a baby. Do not move in with your parents.

@DMBVR4 4 года назад

If the monthly payment stays the same, might as well stay in the house and get some more equity out of it for the next few years. That's just me, plus moving SUCKS. Do it once, not twice lol

@xktwnxl4zlx213 4 года назад

Moving cost so much money too!~~~

@Je.rone_ 4 года назад

$50,000 a year in debt reduction is extremely possible on their income, i paid off at least $10,000 in a year and they make like 4 or 5 times what i make

@jeanlenor1858 4 года назад

You're broke

@Austin_SOLDanoRealEstate 4 года назад

@@jeanlenor1858 Really? Took time out of your day to say that...?

@edb484 4 года назад

Black Vito what’s up, love the channel. Keep it up man

@Je.rone_ 4 года назад

@@edb484 thank you ed!

@wizzer0077 4 года назад

I agree. They can probably knock it out faster if they really buckle down and track every penny

@robincrawley311 4 года назад

I would stay in the house, pay it off within those three years. Don’t have to rent anything, don’t have to go live with Mama! Three years you’ll be out of debt and you’ll have your cushion to go from there. 😇

@robincrawley311 4 года назад

Audio You Said It, Bingo! Even better yet with all the money that they make together, they can cut that in half and have it paid off in a year to a year and a half! That’s what I would be doing, if I had it like that! There are so many people living off so much less, and they make it happen. Sometimes you just need some really good advice, prayerfully you could get some, other cases don’t have any advice at all, that’s what the mistakes come in!Blessings!😇

@naturalbeauty_abena1230 4 года назад

Yep

@robincrawley311 4 года назад

Naturalbeauty_abena 😇

@kiatheceo 4 года назад

That’s if nothing changes with their income. Things happen

@robincrawley311 4 года назад

Kia the CEO ,your correct, especially during these times! With their moneys together they make quite a bit, so if there was only one income they could still do it, may take a little longer but it can still be done! There are so many that don’t even have an income right now, but God will supply! Push came to shove, they can get their creative juices going and become entrepreneurs!😀

@CaseyBurnsInvesting 4 года назад

Fees for selling homes steal wealth. Buckle down.

@hornetguy9063 4 года назад

Agreed. The thing that makes me say it’s a bad idea is that if she sells for $300k, she gets $282k in actual money. So she still has a little over a year of debt payment to go to get debt free. Then she probably has to save for another 2 years just to repurchase. And wherever she purchases, she’ll be out like 3% in closing costs. So she might as well keep the house.

@riverdaletales8457 4 года назад

@@hornetguy9063 I would keep the house because if she sells her house and gets out of debt she will eventually go back to debt when she buys a new house...

@LG123ABC 4 года назад

Do a FSBO.

@goshjillespie904 4 года назад

RealestAte agents will soon be obsolete once online home buying becomes a thing

@BagsNBaguettes_327 4 года назад

Agreed! Not a lot of equity and will still be in debt

@starrofMIAMI 4 года назад

Don’t sell. Keep grinding the way you are. The house will be worth way more in three years anyway. Plus when you’re ready to buy again you’ll have way more money for the next purchase.

@moneybee 4 года назад

Couldn't have said it better myself! Well spoken!

@caniggiaful 4 года назад

I don't see how this is not clear.

@dinac6250 4 года назад

@brianpitsilides5337 4 года назад

I hope they move into her parents because I’m looking forward to when the husband calls complaining about the in-law drama.

@riverdaletales8457 4 года назад

That's what happens when families have bad relationships .

@riverdaletales8457 4 года назад

@@rodperkins8668 yes this will cause tension but only because people are nasty and they don't have good relationships with each other .

@TeKnoVKNG23 4 года назад

@@riverdaletales8457 The relationships don't matter, it creates a power dynamic where you are back under your parent's roof as a grown adult thinking you make decisions to run the house hold and your parents don't agree with that and see it as their house and you are renters/guests. As a grown person you can no longer live the way you normally would. It would test even the closest family to have that kind of dynamic, especially if there isn't a lot of space for people to be apart in the house.

@mdooms76 4 года назад

Grandparents are not built in babysitters. Their child raising is done. Take care of yourself and your own kids. Stop moving in with parents as adults. They are standing on their own and so should you.

@deniseneuendorf3577 4 года назад

Really offended by the built in babysitter remark. Too many grandparents are being taken advantage of. Another example of an entitlement mentality. A word to millennials: few of us will say this to you.

@susanedghill609 4 года назад

agreed !

@susanedghill609 4 года назад

@mdooms76 agreed !

@NickSiekierski 4 года назад

The American mentality against multi-generational living arrangements is short-sighted and selfish. Most people in the world live with three generations of family under the same roof at one point or another. It's one thing to use grandparents as babysitters but something entirely different to have your kids close to your parents to learn from them and check their bratty tendencies and to help the grandparents as they age. Shuttling them off to often deplorable conditions in "nursing homes" so the parents can keep living their self-centered "independent" lives is one of the ugliest aspects of this society.

@l.s.6245 Год назад

So true!

@linhaton4957 4 года назад

It also depends on the family situation. Some families do just fine together an it's a win win for everyone.

@uk7769 4 года назад

Nope, renting a single family home in south Florida costs $2500 per month. At least for anything decent. Apartment rents are crazy high too.

@Afro-Capitalist 4 года назад

Renting in South Florida is high and I wouldn't do it. Live with parents if it will work or buckle down in this house and payoff debt.

@insideoutsideupsidedown2218 4 года назад

$2500 is not bad if minus meager living expenses the rest of monthly income goes to debt

@Raza__12 4 года назад

I would NOT in my right mind sell the house and move with parents. That's a dumb idea! Plus you just had a new born. There is nothing like your own place when you have your own family. Keep the house and focus on your debt. Once you are out of debt then sell the house and get a new one or whatever if you don't plan on living in it anymore.

@LG123ABC 4 года назад

Maybe they actually like their parents.

@jeanlenor1858 4 года назад

WWDD? Moving to parents home isnt one of them.

@cindypetterson8578 4 года назад

Plus the stress of moving 2x - once to an apartment then to their next house. Crying baby is stressful to fellow apartment dwellers. Also moving in with parents as an emergency is different than moving in with parents as a 3 year plan so that you can save money is littered with problems. (Different parenting styles, expectation of household chores, cooking, etc)

@gd613 4 года назад

Agree. Moving when you have an infant is a non starter.

@BrendanEvan 4 года назад

I wouldn’t sell it personally

@NaNa-lt1po 4 года назад

Thats why I love dave,, no ruining around the bush.. just layout the options crystal clear .. and when he has to pick one.. he does.. like it or not.

@AaronHernandez-xv4qh 4 года назад

I was thinking the same thing , will end up basically the same result around the same time. Not worth to sell

@MrRedScorpion1 4 года назад

It took me 10 years, but using Dave's program and steps I am debt free, have my $1000 dollar emergency fund and have zero credit foot print on the web. My next step is a tiny home and off the grid living. I followed Dave's steps, delivered pizza when necessary, and took odd and end part time work to supplement my income. My 22 year old daughter is now following this program and working on her emergency fund. Thanks Dave.

@mfgallonjaust7171 4 года назад

Yes sell the house . We are near the peak on house prices . 2021 housing market crash is real

@mfgallonjaust7171 4 года назад

Be debt free, wait for the market to crash then buy another house that’s bigger and cheaper

@vashtibascombe701 4 года назад

Don’t sell the house. You will have to pay commission fees, moving fees and then pay to rent somewhere. Then you will have to re-save 20% down payment plus closing costs, while housing prices may continue to rise. There is no financial benefit to selling in this scenario. If you had $500,000 in equity and could sell and downsize to a $300,000 home that would be different.

@thomasmorrison3279 4 года назад

Sell house 300k - 212k balance = 88k, then subtract closing costs, realtor fees, etc. = squat. Maybe get 50k from the sale. Not worth it.

@Rabid_Turtle 3 года назад

Why would you have a kid with $148K in debt?????

@annehajdu8654 3 месяца назад

No business being parents.

@SkyOceanBleu Год назад

I love when the two of them disagree

@dayaf0 4 года назад

50k plan is a way better option.

@f_r_e_d 4 года назад

Stay in the house, boost your debt payment each year, sell the house in the future at a higher price and buy that dream home you always wanted! Looks simple to me, especially with a new baby, don't deal with in-laws and landlords. Stress free at your own home until you're ready to move again

@yamamancha 4 года назад

Start the planning process for selling the house. Map out how much cleaning/renovation/repairs/staging you want to do. You'd also have to find an apartment you like and can afford, but you could use this process to rent in your target neighborhood/area. That would give you an opportunity to research the schools, etc. (and establish residence in the neighborhood of your target school). The actual process of listing and selling the house may only take 2-3 months but between planning and prepping your house for sale, and then finding and moving into a new temporary location, this process might take a good 12 months anyway. As long as you're on Dave's plan right now, that would mean debt-free in a year after you sell the house.

@Daniel-tv9tb 4 года назад

Good for them. They have their head in the right place.

@ggreddy3568 3 года назад

What about taxes on income? Other expenses of your owning a home... it would take 5- 6 years to pay off debt

@scottfranson4215 4 года назад

I thank God for your videos

@BobEberlingMusic 4 года назад

DO NOT SELL THE HOUSE! Buckle down, turn that three year plan into a two year plan, and use the next few years of increased equity in your current home as the down payment for the home you actually want when you’re debt free.

@Justsayingthat 4 года назад

If the parents are happy to have them, go there. Sell the house. Pay off debt and save to repurchase. Just commit to a plan. If family situation is rough, can always move out. Plus they do not want to live in the house anyway

@TylerCummings6 4 года назад

Orrrrrrr rent out the house...?

@pic376 4 года назад

I would never want to live with any in laws. Bad idea. Even if I have to live in a kitchenette, I would. But not with in laws.

@Justsayingthat 4 года назад

@@pic376 my parents are ok so it could work. But even if they were not, a nice basement with separation works.

@LG123ABC 4 года назад

@@pic376 Sorry to hear that you don't like your in laws. Mine are pretty nice people actually.

@mevanscodes 4 года назад

Just grind it out, minimize unnecessary expenses, get that debt paid off then sell the house for its true value.

@ks-dn6oj 4 года назад

Who knows what the value of the house will be later on. The housing market could crash again for all we know. She should sell the house now and pay off all her debt. Freedom from debt immediately is way better than living like you are impoverished for 4 or 5 years, all the while not adding anything to your savings. If they want another house later on than they can save up for it, but it doesn't seem like it is necessary for them right now. She has parents who are willing to take them in for free which is something that she should be grateful for and something that she needs to take advantage of.

@chrishart8548 4 года назад

@@ks-dn6oj I would sell their place rent for a while with less dept. I wouldn't move in with parents unless the only other choice is homelessness

@laur-unstagenameactuallyca1587 4 года назад

@@ks-dn6oj ohh... good points

@deancorleone 4 года назад

Congratulations on your baby!!!! These guys are going to do well whichever course they take.

@idadho 4 года назад

Renting means losing appreciation value. It also remove life comfort. Having a little one while in transitional housing is not as comfortable as living in your own home. Buckle down. Pay off debt. Have more equity in 2 years to sell and buy again.

@davidcarter9211 4 года назад

That house could possibly be worth $350k+ in 7 years. 🤷🏻‍♂️

@JK20239 4 года назад

Depends. After dumping 100k in repairs...not so much lol..

@Sizukun1 4 года назад

Thats a tough thing to predict, in some markets a house may go up $100k in 5 years, it may go up $10k. Kindof a gamble but at least most houses in most markets go up in value.

@davidcarter9211 4 года назад

Very true but what will buying in 7 years look like if they sell now?? Prices only go up.🤷🏻‍♂️

@Sizukun1 4 года назад

@@davidcarter9211 I don't disagree. Just like Dave usually points out now, there are 'hidden' costs in owning a house making it more expensive than renting in every scenario. I could sell my house for $100k more than I bought it for, but then where would I move? to another house that someone else is selling for $100k profit? The only time you make money on the sale of a house is when your kids move out and you downsize to something smaller.

@plus790 4 года назад

Maybe, and $45k is a lot of money, but as a return on $300K investment? It's not overwhelming. They could make that or more on the next house if they reenter the market in 2 years.

@clarks2001 4 года назад

Stay in the house and keep attacking the debt. Moving in with parents is a horrible idea.

@MichaelJanzer 4 года назад

Don't sell your house! It'll likely appreciate more in the next two years. Pay your mortgage rather than somebody elses, and continue to build your own equity. Once your ready to move sell it for a larger profit!

@valev5705 4 года назад

I would rent the house and move with parents. If things dont work out with parents i go back to the house.goodluck!

@dollybands9500 4 года назад

This is a great idea

@Minibike817 4 года назад

I'm a parent with grown kids I dont want my kids to move back with me

@valev5705 4 года назад

@@Minibike817 your are right, it all depends how they get along, there is a saying in Mexico that says the death people and the huddle stinks at the 3rd day. But honestly they make good money to going tru this. I would stay in the house and get a side hustle to speed up pay off debt.

@thefitinvestor8803 4 года назад

Posted 5 seconds ago. Dang I’m addicted

@crazyape2439 4 года назад

Hahah me too

@anthonyhawkins4136 4 года назад

Same Brother

@melescobar8328 4 года назад

Jayson Vela same lol

@FP5Gaming 4 года назад

You should be investing not commenting - Dave

@melescobar8328 4 года назад

P B hahahaha 😂

@KTSpeedruns 4 года назад

Selling the house doesn’t help much,. Since they really don’t see themselves there for much longer, that’s the main reason I would say sell it and move. I do agree that they don’t need to move in with the parents. I’ve seen how it tends to work when a married couple with a child lives with the grandparent. Someone is always annoyed; someone is always trying to tell someone else the “right way” to do things. Someone is always imposing their culture upon someone else. They should go through the numbers of different potential plans and outcomes and figure out what they can do without making themselves too uncomfortable.

@robincrawley311 4 года назад

To be honest personally, I think that three years with the money that they make in a year together , they can pay that off within a year to year and a half if they already. You don’t have to stretch it to three years, cut it in half, you make enough to survive, you have your own home, many people don’t have that, renting to me is a waste, And puts money in someone else’s pocket to do what they will with it, so they will be gaining, and you will be losing! True, it’s better than nothing! Bottom line, Continue with having Self Control and Manage Your Money, Which is actually Gods Money! ! Whatever I am sharing with you, I have do myself! Again, Pay that debt off in a year to a year and a half, you Don’t have to rent anything!!! Blessings!🙏🏼

@theIdlecrane 2 года назад

How much would the house appreciate in value during this time? How is this not accounted for in this discussion?

@chevelle1 4 года назад

2 signatures that can destroy your life: Government issued marriage licenses and student loans.

@nko5666 3 месяца назад

I yelled so loud!!!

@jojohns9670 4 года назад

You wont get rent lower than the mortgage you're paying now anyways, so why the itch to sell the house?

@plus790 4 года назад

The baby complicates things. #1. If living with the parents would put a strain on your marriage, DO NOT DO IT. End of story, just stay in the home and grind it out. #2. Don't sell and rent if you're not going to save (much) money anyway. #3. But if the parental/in-law relationship is strong, sell the house now while the market is strong, take your free place to live with family (the babysitter is a big bonus too), immediately pay off the high interest stuff (car and credit cards), and knock out the remaining $75k-ish in student loans over the next 12-18 months. Then 6 more months of grinding for a down payment and you're ready to move to the place you want to be, having no debt except the new mortgage.

@bettysmith4527 4 года назад

I can't even fathom wanting to live with my parents again, unless I was broke and going to be homeless otherwise!

@ericeandco 3 года назад

You’re going to move your whole family to mom’s! That’s crazy.

@6729solarwolf 3 года назад

Sell a property. Buy a property. That's the rule.

@PassportBrosBusinessClass 4 года назад

I should sell both my houses and go live under a bridge in California. NO ONE will know that I've got cash in the bank and a debit card with access to plenty of soap and deoderant LOL

@varjunind1 4 года назад

Or sell then move to cheaper state and live a normal life

@heslind 4 года назад

Sell an asset to rent?! No.

@michaeldalton8374 4 года назад

It isn’t an asset if it isn’t making money.

@LG123ABC 4 года назад

Give up a payment to live rent-free? Yes.

@xsgtxbigboy1655 5 месяцев назад

@@michaeldalton8374yes it is that house gets paid down and is prob up 100k in price or pay someone else bills which one brtter

@ks-dn6oj 4 года назад

Ya, sell the house. If you can get rid of the debt with something as simple as selling a house then ya do it. I would live with your parents for a bit, then pay for an apartment for a couple years after that. If you want to get another house later on you can (loan free). There is no reason to live 3 to 5 years in poverty while you grind away on that massive debt. Sell the house, pay off your loans and credit cards, and live free.

@Tr1Hard777 4 года назад

2:04 oh boy.

@josedubon6867 4 года назад

I love this show

@lipglossed 4 года назад

Good point on doing more research on renting first.... you may find great deals that would work or you may be horrified. Probably will solve that decision lol.

@mickeymichelle9067 4 года назад

I can’t do beans and rice!!! I’m don’t eat out, but I’ve gotta buy food!

@miriambertram2448 4 года назад

COST OF SALE seems to be ignored

@Neddie2k 4 года назад

Selling the our doesn’t get you out of debt, I will stay in your house but what do I know. You just had a baby, you need some stability.

@charlieulmer-scrantonscomm2388 4 года назад

Very true on going to check out the apartments! I’ve definitely learned this with age. You can meditate and dream on things like this for months, then you go and check it out and it’s not the same! Should have went straight to checking it out and moved on!

@madelinepark7944 4 года назад

1.5 years ago I was so stressed out with home ownership (we could afford it but vs what we were renting for it was so much more). This year rent is going for MORE than what I pay for my home INCLUDING utilities, internet, etc. We generally pay 1400-1800 together with insurance, utilities, internet, mortgage, etc. Rent is 1800 now for a 2 bedroom apartment... WITHOUT utilities included! Like what! Ridiculous.. Im so happy we landed a $1200 for the short time we rented.

@knownonsense2015 4 года назад

Don’t rent. You’ll never get that money back.

@brandonmc01 4 года назад

Sell it, rent, and save interest

@mikaelg5840 3 года назад

I’d rather pay bank interest on something I own that will appreciate in time than tossing money at rent which is a big black hole where you will see ZERO return on your rent dollars.

@tjmcavoy-jensen871 4 года назад

Guys what jobs can I get with no degree? Because before I started watching Dave I chose to be an exercise science major like an idiot. The only real good job you can do with it is to go 100K in debt to be a physical therapist. Which I don’t want to do. At least I will graduate with my degree with 0 debt, but I don’t know what decent job I can get

@pigpjs 4 года назад

In addition to being a PE or Science teacher like @Charlotte Elizabeth said, you can become a paramedic (different than an EMT), work for a medical materials manufacturer, bio-pharmaceticul industry. There's probably even more careers out there. I am a history major who worked tech support straight out of college. All they cared about was that I had a bachelor's. Eventually I worked hard and kept moving up. When I was 25 I ended up finding out about what would eventually be my career path. Heck the job I am in now I didn't even know was a possible subset of my career path until 2 years ago. So you may start down one path and end up finding out about an entirely different type of job you qualify for as you go along.

@Ketchup584 4 года назад

I’d sell it.

@insideoutsideupsidedown2218 4 года назад

If you sell, 75k pays off that much of the debt. 73k left and you rent as cheap as you can without being in a squattersville, and 14 months from now you are debt free. Then you are at the point of net zero and you start saving for a down payment, etc. This way us much easier so to speak in time wise of being on rice and beans. 3 years is a long time to do nothing, go nowhere etc.

@mikebrownbassist802 4 года назад

They make $142k and saving $50k is “beans and rice”. 🙄 They should save at LEAST $75k and be done in 2 years or less!

@barrygarfield2203 4 года назад

What do you think $142 gross equals after taxes? Maybe $105,000... Then add mortgage , insurance, property taxes, water, electricity, food, baby expenses etc. no way they have $75,000 to pay off debt .

@mikebrownbassist802 4 года назад

Married filing jointly tax bracket for $142k is 22% which equals $110,760. Subtract out $75k and that leaves $35,760. That’s $2,980 a month. If you cook at home, you can feed everyone for $500 for the month. That leaves $2480 for mortgage and bills. The principle, interest, taxes and insurance for a $300k home with 5% down is about $1,800. That leaves $680. $150 for two cheap cellphones plans leaves $530 for electricity, gas, trash, water, etc. You can use cloth diapers, get clothes from thrift stores, switch to a land line, sell your car and use uber/public transit, etc. If you want to cut deep, you can. You are not living like this forever. Cut expenses until it hurts, and then cut a little more. I paid off $170k in 5.5 years. I made $35k for the first 2.5 years and never made more than $90k. They make $142k working full time. They can do overtime or a second part time job. Depends on how bad you want it.

@TheMechanicj 4 года назад

@@mikebrownbassist802 you forgot childcare at600-800 a month formula like 200 a month

@mikebrownbassist802 4 года назад

@@TheMechanicj If they are are close enough to live at home, maybe the parents can help out with child care. Lots of people have kids and live on $35k a year.

@TheMechanicj 4 года назад

Health insurance 500 a month disability life insurance like 100$ a month 401k match usually 3-5% lots of things ya not taking into consideration gas cause where I live ubers to and from work be like 1000$ a month cause ain’t no public transport

@jgonzalez6498 4 года назад

Dude! If they’re bringing in 140 K per year, sell the house, be debt free stay at your parents for one freaking year which can save you up to 70 K which is half of their income, that would be a pretty nice down payment for another house instead of paying rent which is pretty much paying somebody else’s mortgage for three freaking years! 😂 , If you lay down that plan to the parents , you can help them with the expenses of their home putting money in their pocket for a year, everybody helps everybody wins/Only a Real estate investor who buys properties cash to rent them out would give you an advice to go rent for three years 😏 Peace out ✌🏻

@judymckee5992 4 года назад

If my husband and my parents can bear me for 2 years, parents willing to babysit for 2 years. I would go for being debt free and a huge down payment for the next house.

@annehajdu8654 3 месяца назад

*bear

@annetraut8247 4 года назад

Hispanic culture is so different from hillbilly culture that Dave is familiar with. Living in a house with 3 or 4 generations of family is not out of the ordinary. It's much more culturally accepted! If I were in her situation, that's what I would do. They can be completely debt free, have their 3-6 months emergency fund, and a 20% cash downpayment for a new place if they live with family for the next 18-24 months.

@calvinmiller3044 4 года назад

Selling and moving feels like too much change all at once which could be a burden on their marriage. I would value the more stable route.

@shushfam329 4 года назад

If your reading this I hope u become successful n succeed ur goals

@sarahwaters8262 4 года назад

you're

@kevindudson2344 4 года назад

Here is an alternative idea move in with mom but rent out the house and then throw any and all the income towards the debt.

@chookchack 4 года назад

There are some instances staying with momma makes sense though. For a couple of yrs.

@desertguy1362 4 года назад

Move back with folks with a newborn to pay only half of her debt. No thanks.

@sam3309 4 года назад

Rachel is such a gem!

@ryant2568 4 года назад

If she does not have a personal attachment to the house then I would sell it. A new child is extremely expensive in those first few years and you want to enjoy that time and not be constantly worrying about money. Just sell the house, wipe the debt, and rent for a few years.

@tonyaelmore7610 4 года назад

Not selling my home, my security, to get out of debt.

@mbargo06 4 года назад

Option 3: Sell the home, move in with parents. 1. Free daycare while the wife works outside the home (if she wants). 2. Grandparents may be delighted to have a baby in the home, and a babysitter you can trust. 3. Pay off all debt within 6 months 4. Save for a down payment on a home and move out within 12-18 months

@dotteddice2358 4 года назад

If the family gets along well, I see that as an option too. The parents may enjoy having them there, especially if they have a couple of unused rooms. With that income they'd be able to help with food and utilities, I don't see them being freeloaders.

@Nole4life1999 4 года назад

If a parent is retired and willing to be daycare its a no brainer. This 2 or 3 yr sacrifice will set foundation for generational wealth. 1k a month for housing childcare is like Christmas everyday.

@bettysmith4527 4 года назад

People are forgetting that the parents probably don't want a baby in their house all the time, nor should they be expected to be the babysitters whenever the parents want it. The situation will lead to tension I am guessing and awkwardness in the relationships.

@ecclairmayo4153 6 месяцев назад

@@bettysmith4527-"exactly. Ai don't know why people keep saying they are "sacrifcing" when they move their entire families into their elderly parents house. It's really the other way around! Older people do not have the stamina or patience to deal with a screaming baby, but people expect that they will be delighted to give free babysitting. Older folks need to focus on their health and peace. It's not fair to assume they are okay with taking in such a disruption in their life because of their adult children's bad financial decisions. Thus family is not homeless, they just need to pay their bills out of debt like everyone else. They chose to start a family, not their elderly parents. This assuming attitude is so selfish to me and I amna millennial. I will never understand it.

@joeyk19801 4 года назад

I'd go the opposite direction. There's nothing wrong with living in the two extra rooms in mom's house in order to get out of debt faster. Also, the female commentator is 100% correct, they will have a built in baby sitter potentially, unless they're not helpful parents. Will they save some daycare costs and have the baby raised by family instead of strangers? I say win-win and there's nothing wrong with it. Unless the parents house is an unhealthy environment, it's stupid to have 2 rooms sitting there doing nothing while they pay a mortgage instead of getting out from underneath our debt... And they don't even want to be in that house long term.

@livefreewithcalebd 4 года назад

Don’t sell the house! Currently that’s your best asset.

@saulhernandez8620 4 года назад

Question will be how much is rent going to be if I sell the house and whats my morgage. if they are the same it won't make any difference selling the house. Buying a house is an investment 7 years from know the house is going to be worth more then it does today.

@riverdaletales8457 4 года назад

No , when renting it's cheaper in the long run because when the sink washer, ac , rug, Windows, door knobs, ect break down you won't have to pay for it the landlord will

@theraptureisnearbelieveinj7695 4 года назад

Unfortunately, this is some more bad advice being given. I would sell your house, move in with your parents for as long as you can tolerate each other, and save, save save to pay off your student loans. Paying off those loans is MOST important. You can get an apartment anytime. In the mean time, if you have parents that want you to live with them, that is a wonderful gift. Wish I had parents like that! :)

@mickeymichelle9067 4 года назад

I don’t see my way out😩😩😩

@G_monE369 4 года назад

I like Dave’s sidekick. Good answer ‘ built n babysitter’. Speaks volumes for millinials

@MrMohammedAlmulla 4 года назад

that's his daughter btw lol

@nw8000 4 года назад

They earn $142,000 a year and they cant get out of debt!!!!

@MrBoarder1188 4 года назад

What number do you call to speak to them I have a pickle I'm in I would like Dave's opinion on

@expo7112 4 года назад

So who's the ravaging pixie??

@Poomayne 4 года назад

Lol, move in with your parents and pocket the savings while having free babysitters. Not sure what Dave is thinking with throwing money away on rent if they have a temporary place to stay with free babysitting before buying again.

@noahehler3541 4 года назад

I want to get into real estate so bad. Even started a channel to motivate myself. Anyone recommend going ahead and getting my real estate license now?

@CosmicCat23 4 года назад

Of course you should get your real estate license. Even if you can’t afford to work as a starving agent right away, it’s valuable knowledge. Very few people have become rich without real estate and having that license gives you an advantage.

@rebelrrp 4 года назад

Cheap way to promote your channel

@noahehler3541 4 года назад

It wasn’t a promote man...trying to decide if I want to make the investment

@noahehler3541 4 года назад

Thanks for your input

@goshjillespie904 4 года назад

Save your money gonna be a flood of foreclosures soon :)

@waatao9856 4 года назад

Haha that yayyyy Dave did

@romabrew99 4 года назад

Dave, Should i buy an 80000$ car?

@clarifyingquestions 4 года назад

Live in parent's bsmt rent free while renting out their home and beans and rice!

@Simon-je7ko 4 года назад

She did sell a car. Now she is ready to sell the house. What about all the stuff that you have? Like you need all your stuff? You could not sell some online? You have more money than you think. You do not need 50 pairs of scissors. Unless you cut hair. Are you Edwards Scissorhand?

@Afro-Capitalist 4 года назад

Depending on the culture moving in with parents would be better

@tymom9313 4 года назад

Sell the house, you don't really like it anyways

@Big-Government-Is-The-Problem 4 года назад

it seems alot of people in the comments have daddy/mommy issues lol... if you have a good relationship with your parents, and they are glad to be babysitters its a no brainer to go live with them for free for a year. renting is a terrible idea as she mentioned. staying where they are is completely fine too. they will be able to pay off the debt and be millionaires within 20 years easy if they invest a good percentage of their income each year

@1.5Koreans0.5American 4 года назад

I came too early😂

@xktwnxl4zlx213 4 года назад

I saw you in one of the Dan Lok's video! Lol

@chatitobbq4613 4 года назад

First

@thehfamily_ 4 года назад

I disagree with Dave. Sell home, take proceeds from home to pay off 50% of debt. Move in with parents for 6-8 months rent free (help with groceries) and aggressively pay off remainder of debt. Especially if you have a mother with extra rooms thats willing to let you stay temporary. They will be debt free in 7 months compared to Dave’s 5-7 year plan. Economy is constantly changing and in a few years your home might not be worth as much and your income might not be the same due to layoffs etc. strike while the iron is hot and pay off as much as you can as fast as you can!!! Once debt is paid entirely paid off stay with mother a few more months to save for down payment on new home.

@DyingToLive12 4 года назад

Wow, Interesting timing.... im litteraly going through this right nowwww. between my mom and i, we owe almost $100k in debt.. we just sold our house of 30 years and are moving from CT to Florida next week!! The selling price was just enough to pay off entire mortage, debt for both of us, and $20k cash in the bank! seems to have solved our issues but now my mom doesnt have a house, we are going to rent.