I think she dialed the wrong number

I’m also using debt to flip homes. It’s not worth it lol. Listen to this man. I am going to start paying off all my debt.

0:37 Rachel’s stuffed laughter knowing what’s coming 😂

I just love these calls when it is like “uh, you do know you’re calling Dave Ramsey, right?” “Hey Dave, love your show, been following the Baby Steps for years. My question is whether I should use a 401k loan to pay off the time share I just bought.”

@AimeePoppinBabies

Ай бұрын

😂Not the time share !!! 😂

@rabidgoon

Ай бұрын

There’s a good chance a lot of these calls are staged

@listerinr

Ай бұрын

​@@rabidgoon Yup, Ramsey folks creating content lol

@HelosWorldRailroadReseller

Ай бұрын

@@rabidgoonI could understand especially how quick the caller is actually handled and they just chit chat.

@rabidgoon

Ай бұрын

@@HelosWorldRailroadReseller the majority of the callers are also pretty good at speaking on the show. Contrast this with other shows where they have callers and a lot of the people who call in are very awkward. The ramsey show never has people who call in who are awkward on the air, which is unusual for a call-in show.

Anytime I see Dave Ramsey on a KZread thumbnail, I have to watch the video. This man is full of wisdom.

Once again , Dave's advice is sooo wise and coming from the heart and experience!! Thank you Dave!!

Lol, those first 20 seconds. How to say the exact wrong things to Dave.

Why would you bother flipping right now when interest rates are at their peak? They missed the boat by 3 years.

@HelosWorldRailroadReseller

Ай бұрын

In my area houses are still selling quickly. Dave is 100 percent correct, only cash. So you don’t think I making this up I live in Montgomery County Virginia.

@TRC296

Ай бұрын

@@HelosWorldRailroadReselleroh I believe you. I’m in Loudoun county across the river from you. The DC area will always be hot. But still, the time to max on flipping was when rates were super low.

@TRC296

Ай бұрын

@@HelosWorldRailroadReselleroh I do. The dc area is crazy. I’m across the river from you in Loudoun. Houses are still selling fast!

@dropsofKarma

Ай бұрын

Inventory is super low right now in high demand areas. Flip a 3 bed 2 bath 2,000 sq house for half a million in some areas.

@amireallythatgrumpy6508

Ай бұрын

Interest rates are not at their peak. They're only medium and clearly trending towards 15%.

Better chance of success flippin' pancakes.

@TheSoulCrisis

Ай бұрын

🤣😂

@Krinbo

Ай бұрын

Good one, Dad.

Do this lady know what show she called?

Dave can sound arrogant sometimes, but when you have experienced trauma like that, it changes the way you think.

@AS-gf5jn

Ай бұрын

I'll always take advice from a well to do man over some broke as a joke knucklehead. Arrogant or not he's done it.

@blackworldtraveler3711

Ай бұрын

I've always ignored arrogance and bragging when people know what they are talking about. I’m taking notes.

I love when people call in thinking Dave will side with them. 😂😂😂

@TheSoulCrisis

Ай бұрын

lol

1.7 mil in 1984 is 5.1 mil today, Dave…

Call Dave and ask to borrow money!

It's not necessarily a bad idea to flip houses with loans, but you better add some value to the transaction. The people I've seen succeed l were experienced real estate agents or handymen.

2:12 I would take an apartment or townhouse over buying a junky house depending on the situation.

@2:00 Rachel's face is like "here we go again just like every Thanksgiving chat"

When we were last looking at houses you could usually tell a flipper house a mile away. We would just turn around and leave. I've nothing against flipping but so many of them are doing it on the cheap. Nothing is done right, any materials are the cheapest. Spackle is cheaper than structural repairs.

@blackworldtraveler3711

Ай бұрын

That’s the problem I had in 2008. I looked at over 80 homes that year in four states. Flipped homes were everywhere after the housing crash. The good flippers had receipts and warranties for things like hard wood floors,carpeting,appliances,plumbing,etc.. Also I am very picky about things and bring with me a couple of screwdrivers,flashlight,ruler,mini level,etc.. Not a fan of pets in the home so I carried a UV light as well. Some homes look perfectly fine until you shine a UV light and see urine everywhere catching the realtor or homeowner in a lie. Some home interiors look like a CSI crime scene under a UV light.

Yes flip a house, with your own money. Save 300k, it’s so easy…..

@MarcusKiner

Ай бұрын

Missed the “start small” part? I’ve seen some dumps in my area at $40-$50K

If Outta touch was a person.

I was in this exact position recently....although I was going to use a HELOC to buy the property (and not pay much) - but all his concerns were exactly where I was with respect to risk...he's right I manage design and construction for a living - risks need to be accurately evaluated before putting your own home equity at risk.

The problem with most anti-Ramsey financial people is that they don’t know how to evaluate risk, which by definition involves the possibility of unforeseen circumstances. They’re like people who think they’re good at Russian roulette because they happened to survive.

The time to flip was a couple of years ago. Now isn’t the time to be flipping houses if you have to borrow money.

@hashtagselfie

Ай бұрын

Not everyone had money yet jackass

@TheSoulCrisis

Ай бұрын

Yep cause if the deal goes BUST you're gonna borrow your butt to get out of it!

So true! I do all my renovations with cash and you just think differently. You are more apt to look for deals and find ways to get the best value.

@TheSoulCrisis

Ай бұрын

I feel this way when I use cash for ANYTHING.....it just makes you smarter, efficient, and cautious with your handling of funds cause you know it's yours.

Rachel trying hard to not laugh out loud, but we still hear that little snicker! I love it.

I would advise to exercise more caution if you're interested in buying a flipped house from an investor. Many people buy a fixer upper, use the cheapest materials and "un"skilled labor to do the renovations, then sell the property at a profit, leaving the new buyer to deal with shoddy repairs and updates. I would consider buying a flip from a professional home builder who has a good reviews, but I wouldn't buy one from someone who doesn't have much or any experience in house construction.

As a retired mortgage broker, I have one word for her... NO

dave is so wise. All cash flips sure are nice

I’m new to this, where do you go to find foreclosures?

@cremephoto

Ай бұрын

In historic web pages in 2007-2009. We’re not there yet, if that- people are in equity positions even with a recession windfall.

Boy this woman started out on the wrong foot

@JakeStewart1343

Ай бұрын

6:50 She was set up 😢

@JustinCase780

Ай бұрын

She is calling from the studio.

@LittleMopeHead

Ай бұрын

@JustinCase780 Why do you say that?

@lucasr648

Ай бұрын

@@LittleMopeHeadapparently there’s some people who think these really crazy calls are staged. In fairness, who is gonna call Dave Ramsey for financial advice if they’ve never even heard of him? And why wouldn’t they look through some of his other material before making the call? Because if they did any of that, they wouldn’t be asking questions that every Dave Ramsey listener knows what the answer will be. I’m not sure if they stage any of these calls themselves, but I can definitely see why some people do think they are staged.

Dave should buy that bank.

The story of Dave flipping houses doesn’t really apply nowadays because the flipper loans he used do not exist anymore. It is much harder for banks to call notes than it was in the 80s.

1500+ flips contributing to renter nation, then again we're not Vanguard-

Why do people often respond with "Okay?"

@MarcusKiner

Ай бұрын

Sometimes it’s a stall tactic to think.

If they don’t have the cash for a fix and flip, they could get a property under contract and then assign the contract to a flipper at $10k above the price on the sale contract. Do that until you have the cash to flip a house without debt.

Rachel had to remind dave how old he is with that $1.7M comment 😂

I flipped small starting with loans and now I pay cash. I did make my first Mil doing this. Just be careful on the area you buy in. I bought my first one at an auction for 14k and sold it for 70k in three weeks with no upgrades. Look for tx owed house to make your big $$. Don't forget about capitol gains tax, that takes your damn profit.

This lady has never watched or listened to Dave Ramsey lol

@dillonsmith-6982

Ай бұрын

This one is wild

@lucasr648

Ай бұрын

I’m 16 seconds into the video. Heard her say “home equity line of credit” and paused because I started laughing and was thinking the exact same thing. 😂

@cremephoto

Ай бұрын

She’s watching her LIBOR indexed HELOC go into space 🚀

Do it the way Dave did, even post-bankruptcy with no cash and no credit. He tied up the house on contract - the position to buy - and find an investor. However, as Dave said, "I grew up in real estate and knew all the investors around"

@dylansutton3799

Ай бұрын

So sorta like Wholesaling?

@cremephoto

Ай бұрын

@@dylansutton3799 until your realize black rock bought the home you think you hunted down. Although the method has changed, compared to how he did it.

$1500 for radiator replacement, thermostat, headlight change, and serpentine belt. This is why one needs an emergency fund with 3-6 months saved in high yield savings and a month's worth in checking. Just a minor inconvenience (although I really do not want to part with that much).

These people have never watched HGTV renovations, and it shows. 😂

NEVER use a HELOC for ANY risky venture. Fix your roof or something, OK. Never for an investment. We lost our ass in 2007 from doing this crap, and our house was upside down for TEN YEARS.

Kyosaki maam, not Ramsey.

I have always flipper money with the help of borrowed money. Hiwever, i lend the money to a company which is owned by me, and wife 😂😂😂😂😂😂😂😂😂

I'm glad you dove into your personal history (yet again), because there's too great a chance this caller wouldn't have listened to reason, and needed to hear your example.

Here's a better guide to flipping houses: Don't.

@cremephoto

Ай бұрын

Correct. Pay off your own owner occupied, and stay out of the risk, letting the new buying market take its course to another, owner occupied able and willing buyer to form a household.

😂😂😂😂Ticktalk deal 😂😂😂😂😂

Rachel definitely got the cash from her daddy she don’t need act lik she didn’t

I used to work for a law firm that handled foreclosures for lenders. At first I wondered how homeowners could go into foreclosure just a few months after buying a home. Then my colleague told me: they are flippers who flopped!

I understand the moral of the story, but Dave got too greedy with financing back then. I wonder if he would have just limited himself to just a handful of properties (perhaps 2 or 3) would his outcome have been different. 🤔

@GAFB1122

Ай бұрын

Keep in mind, Dave's program is not just based on what's worked for him but the studies that have been done on everyday millionaires from various industries and occupations.

@taurusthebull76

Ай бұрын

@GAFB1122 I'm familiar with Dave's teachings as I've listened to a large number of his content. I'm just sticking to this particular subject on borrowing money to flip homes. He always goes to his experience, which is the extreme. I'm sure a good # would agree that borrowing money for anything is risky. Safer bet would be to pay cash for a flip, but I bet most don't or wouldn't, at least until they build up enough liquid to do so.

@amireallythatgrumpy6508

Ай бұрын

The ironic thing is his failure in the 1980s directly resulted in his later successes.

This feels like a staged call. 1) No one that has listened to the Ramsey show for more than 10 minutes would ask the question like that, even if they disagree with Dave. 2) The caller is waaaay to compliant - no one with a background already using debt to flip houses would turn their back on the previous strategy like that. 3) The caller provides the answer couched as a question - classic infomercial tactic. I just don't believe this is real.

@JustinCase780

Ай бұрын

Big time and it's so obvious. The 🐑 that freak out over anything said contrary to their king- master don't know that this is just fantastic entertainment with some excellent advice. 😂 But yea, it's called "a show" and they need to stage calls.

Seen many people in southern california flip houses, now they flip burgers. Maxxed out credit cards, loans

@cremephoto

Ай бұрын

Not yet. The bankruptcies will hit within the next 6 months, before election. 🗳️ then hades will break lose and bids start flying 📑

Even the foreclosures around our area are pricey now. I can't believe the home prices!

@Earstolisten

Ай бұрын

I’m new to this, where do you go to find foreclosures?

@cremephoto

Ай бұрын

@@Earstolisten you find your own home first- and paid off within 15 years.

@cremephoto

Ай бұрын

If you see foreclosures, it’s too late ⏰ ⬆️

Rachel’s face said it all she knew her dad was going to open the can of worms!

Why is this lady calling from a cave and SCREAMING into the phone

I hear you snickering, Rachel. 🤭

This question right about flipped Dave out😅

I'm not anti investment debt like Ramsey but I actually liked these reasons. First time I've heard that reasoning for paying cash for an investment property and it makes decent sense. But at the same time the cheapest houses around me are 1 million and it's not easy to save up that much cash

In 2007, the house next door cost $220K, the new owner put $40K down, borrowed $180K. Tried to short sell in 2010, for $135K, bank sold it on the courthouse step for $36K. The bank loaned me the cash on a HEL. Gave house to daughter>>> Now ~$500K.

@blackworldtraveler3711

Ай бұрын

Good times with real estate in 2007-08.

@kaylean39

Ай бұрын

Not if you were a kid whose parents got foreclosed on. Tough times. Couldn’t even get a job in HS because so many adults were working multiple jobs and all the stay at home moms were taking the entry level beginner jobs( fast food, grocery stores, etc). Makes today feel like a cakewalk though 😂

@blackworldtraveler3711

Ай бұрын

@@silentnot4812 Banks like BOA wasn’t merciful to homeowners back then with mortgages.

Dave whines about going bankrupt all the time to discourage people...he took out HARD MONEY loans, not mortgages, basically those loans are one step away from loan sharking, they called his notes he couldn't pay, nobody is calling your mortgage your have terms if you make you monthly payment you are good until next month. Yes flips are VERY risky and you can lose money if you don't structure it right but lots of people do fine it's just not as lucrative as people think because it's hard to find homes that people sell really low.

Ummm you could rent it? You would be okay

@cremephoto

Ай бұрын

Until that Best Buy manager gets canned for tripping over an HDMI cable.

Respect for calling it what it is, a Fauci condition

I would never trust buying a flipped home!

@cremephoto

Ай бұрын

That septic has the woman’s hair and the dogs tennis balls 🎾

I would love to see a HGTV personality on an episode for a conversation. It would be interesting to hear their perspective and have some diverse viewpoints

@cremephoto

Ай бұрын

They would have diverse social platforms to share as self promotion, not viewpoints.

Take that extra money and put it into ETFs bro. Its easier to do than house flipping and just as effective.

@alinatamashevich3354

Ай бұрын

What is a ETF bro? Never heard of that.

@siva47931

Ай бұрын

​@@alinatamashevich3354 you have never heard of an ETF? Exchange Traded Fund, similar to Mutual Funds

@Earstolisten

Ай бұрын

@@alinatamashevich3354it’s a group of stocks.. too boring, flipping is in my blood 💪

Was this a prank 😹

@cremephoto

Ай бұрын

A SPANK! 🍑 ✋🏽

I spent $29,000 on my house in 2022. Cash. I have put about $50,000 into it and a year and a half of my life. Down to the studs, total renovation, and I've done most of the work myself. I grew up in construction. Comps are now selling $140-200k.

A lot easier to be a capitalist when you have a lot of capital

Yep... No debt equals No worries. Tenants can trash your property, not pay rent. Or a contractor won't show up, you name it will happen. It's just an inconvenience but nothing that will have you bankrupt or force you to sale your property.

saving up and paying cash for a place is not as easy as dave makes it sound

@alinatamashevich3354

Ай бұрын

Why not?

@rleonekc07

Ай бұрын

@@alinatamashevich3354 while paying your normal monthly expenses.... Trying to save up enough to pay for a investment property. Say a small family home. Real basic. In my city you're looking at 175k - 200k would take many many years to save up that much in cash

@amireallythatgrumpy6508

Ай бұрын

Whether something is easy is irrelevant.

@rleonekc07

Ай бұрын

@@amireallythatgrumpy6508 are you grumpy

@cremephoto

Ай бұрын

Move 🚚

Boy, she called like the exact OPPOSITE person to ask that question to.

Cash for flipping house because the savings is a way of discipline. I once bought a house for $3800 before.

@cremephoto

Ай бұрын

1964

@judymckee5992

Ай бұрын

@@cremephoto , 2015

What’s a Fauci pandemic? Just reminded me why I don’t tune in. I don’t do conspiracy theorists.🙄😩

Ramsey is the ideal boomer. Acting like he can relate to the average person, yet he was given most of what he has from the beginning.

HGTV got people thinking that anyone can do it.

Imagine thinking that "Fauci pandemic" is an intellectual quip

@dropsofKarma

Ай бұрын

Imagine coming out of the pandemic and thinking it was a Fauci issue rather than a healthcare problem in this country.

@gormeroth

Ай бұрын

Ramsey is such a tool sometimes. He can't not shoe horn his dog awful political views into every conversation.

@dog7881

Ай бұрын

@@gormerothYour political positions are probably considered dog awful to lot of people too

@amireallythatgrumpy6508

Ай бұрын

Imagine thinking that Americans are capable of intellectual quips.

@dog7881

Ай бұрын

@@amireallythatgrumpy6508 We have more Nobel prize winners than any other country and lead in space exploration, and technology advancements so you can sit down lol

Do these people even watch and listen to Dave Ramsey when they call asking about borrowing money 🤔🤔

First

@wewhoareabouttodiesaluteyo9303

Ай бұрын

Get a job! It is during the week and you should not be sitting at home watching this. I am onto you!

@krobdawg

Ай бұрын

@@wewhoareabouttodiesaluteyo9303I didn't know "sitting at home" is the only way to watch a KZread video 🤔

Dave Ramsey - Borrowing money for flips doesn't work. I know this because I flipped 1500-2000 homes doing this... ......then I went broke.

@alinatamashevich3354

Ай бұрын

You were not paying attention. Typical.

@jasonquinn4516

Ай бұрын

@alinatamashevich3354 what part did I misquote?

@amireallythatgrumpy6508

Ай бұрын

@@jasonquinn4516 He went broke after only flipping a few.

@alinatamashevich3354

Ай бұрын

@@jasonquinn4516 He flipped that many after BK, not before!

Who has 400k cash to buy a home

@amireallythatgrumpy6508

Ай бұрын

If you don't, then forget buying real estate.

@elevate4eva

Ай бұрын

The Uber wealthy

Faucci pandemic 😂

@rleonekc07

Ай бұрын

hahahah yesssss

@HelosWorldRailroadReseller

Ай бұрын

Pretty amazing because people are still dying from Covid in 2024, 4 years later.

@dropsofKarma

Ай бұрын

i lost people because of that pandemic and we're still butthurt about masks.

@gormeroth

Ай бұрын

Edgy joke. Notice how he nor you will call it a "trump pandemic". You know, the person who put fauci in a position of authority on the pandemic. Oh you won't do that because trump is your lord and savior I'm sure and intellectual consistency probably isn't in any of your guys world views.

TikTok should teach people how to flip breath mints.

Thats dumbest advice i ever heard. News flash....every dollar ever created IS DEBT!!!! smh...u are supposed to borrow money to flip real estate BECAUSE the reasons he mentions....things go wrong sometimes.

@amireallythatgrumpy6508

Ай бұрын

Dumbest comment ever. You are not supposed to borrow money to flip real estate because flipping real estate is ASININE.

@user-vo8cn7vt4b

Ай бұрын

@@amireallythatgrumpy6508 people are so dumb u dont know how the financial system in America works lol

@amireallythatgrumpy6508

Ай бұрын

@@user-vo8cn7vt4b You people in America are a joke. Imagine being so confused you believe the American system works.

Use a 30 years loan to flip with atleast 20% down and save up for renovation Cash to flip house is impossible

Nothing wrong with borrowing money to do it. Dave always leaves out the part where he took out hard money loans.

@Tank-vi2dv

Ай бұрын

You have the most boring life I the world, eh? You haven't done anything and yet you are still here just being a troll. Read a self help book before it's too late man.

@alinatamashevich3354

Ай бұрын

Here we go again with this drivel. The loan type does not matter!!!. A bank can and will call a loan to protect its shareholders. Grow up Jimmy

@GAFB1122

Ай бұрын

​@Tank-vi2dv Jimmy never misses a video and all his comments are negative and contrary to Dave's program. Come on Jimmy, tell me I'm wrong, lol

@amireallythatgrumpy6508

Ай бұрын

Everything wrong with doing it. It's just stupid whether you borrow money or not.

@jimmymcgill6778

Ай бұрын

@@GAFB1122 You are just a cult follower. Start thinking for yourself. Not what your cult leader say's.

Leveraging debt to buy real estate is a great thing to do. This is the only way you will ever be able to grow your portfolio.

@amireallythatgrumpy6508

Ай бұрын

Imagine being so dumb that you believe buying real estate that you do not live in is intelligent.

I just made 100k on a flip with “borrowed money”

@GAFB1122

Ай бұрын

And.... Clearly you support debt, so why listen.

@bbby

Ай бұрын

@@GAFB1122if you’re responsible it would be irresponsible not using debt

@cremephoto

Ай бұрын

How was that 1031 exchange strategy, did you improve into the next best use property? With inventory tighter than underwear 🩲

Fauci pandemic??? Give me a break, Ramsey. Dr. Fauci saved lives.

@amireallythatgrumpy6508

Ай бұрын

He also ended them.

It amazes me how people with no money, who aren't contractors, and have no landlord experience watch a TikTok video and suddenly think they are gonna get into the flipping/renting game and compete against people with money who know what they're doing.

@cremephoto

Ай бұрын

Why the nation doesn’t “want to work” but puncture holes in the wall for equity misallocation

Dave never misses an opportunity to brag about being 24 and partially owning a bunch of real estate.

AVP 👽 Don't / not until after legal ,/ but // yep 😞/ Just running through

If you want to flip houses save for 50 years then start...... oh wait, you are dead 😂😂