Does It Makes Sense for Me To Swap Around the Baby Steps?

Does It Makes Sense for Me To Swap Around the Baby Steps?
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Пікірлер: 224

  • @madarchermoto4955
    @madarchermoto49553 жыл бұрын

    The fact that he told DR he was a firefighter after DR told him he has a fire on his kitchen table was ironically strange.

  • @RespekfulFungus
    @RespekfulFungus11 ай бұрын

    The disdain for mobile homes….it’s family land, a nice double wide is awesome. Pay that sucker off, then build something. A property with an extra home absolutely adds value.

  • @grod805
    @grod8053 жыл бұрын

    Am I taking crazy pills? Why would he sell the mobile home and rent an apartment? Just live there until you build a home! Yeah the mobile home will depreciate but with rent you're still not getting any money back.

  • @rcmike09

    @rcmike09

    3 жыл бұрын

    Thats what I was thinking also

  • @choreomaniac

    @choreomaniac

    3 жыл бұрын

    Yes. Let’s say it goes to zero in 10 years. That’s 60k or 6k a year or 500 a month. Good luck renting for $500 a month! When the time comes to build, they can move the mobile home to the edge of the lot (or buy a neighboring property). I guess the idea is that he can sell the mobile home for 30-40k but he’d still lose money.

  • @666dynomax

    @666dynomax

    3 жыл бұрын

    God point

  • @mlandrew6288

    @mlandrew6288

    3 жыл бұрын

    I was thinking the same thing. It would make much more sense to do that.

  • @Eric-tj9ou

    @Eric-tj9ou

    3 жыл бұрын

    After they build a house they can rent out the mobile home to get money back. Renting an apartment is dumb in this situation.

  • @dananderson6334
    @dananderson63342 жыл бұрын

    Does anyone else ever listen to these "can I change up the plan to make it my own" calls just to listen to the different ways Dave says "no"? 😀😀

  • @cherylvelasquez3220
    @cherylvelasquez32203 жыл бұрын

    I would live in the mobile home, while building. Rent is crazy expensive right now, his payment is peanuts compared to rent. You could rent out the Mobile home, if it's nice.

  • @marcarrera4904

    @marcarrera4904

    3 жыл бұрын

    Exactly

  • @NickSiekierski

    @NickSiekierski

    3 жыл бұрын

    The point is you have to get rid of the mobile money pit ASAP. They can't afford to keep paying off the mobile home (depreciating by the minute) while also starting a $200k+ new home construction project. Offload the thing, find a cheap, 2-person apartment for under $1k/month and focus on getting a real home built while beginning to invest. It sounds like they're doing ok otherwise, but it'd be far less of a problem if they only had a $70k car to offload.

  • @MikeThePike316

    @MikeThePike316

    3 жыл бұрын

    Rent is crazy expensive in or around Gainesville?

  • @cherylvelasquez3220

    @cherylvelasquez3220

    3 жыл бұрын

    @@MikeThePike316 I meant in general.

  • @Maya23452
    @Maya234523 жыл бұрын

    Just my two cents. Personally I would keep the mobile home until you have a home of your own. If you get into a rental, you're still paying for the rental. Edit: Think about it this way, as long as your rent for the past three years is more than 15 thousand that you "burned" it is still a net profit.

  • @dontworry1568
    @dontworry15683 жыл бұрын

    people use mobile (manufactured) home and modular interchangeably, they are not the same. he may have a very nice modular home on that lot. If it is a modular, it will go up in value. Some modulars are built stronger than onsite built homes do to the assembly line like quality control. For less than 100k, I dont know how nice of a modular he could have but he could have a very very nice manufactured home.

  • @jimwingate3353
    @jimwingate33533 жыл бұрын

    I think Dave needs a redo on that one. He wants the guy to move out of his manufactured home and rent an apartment ? That’s ridiculous. A well kept manufactured home that’s anchored down and has some permanent improvements like a deck or porch can definitely hold its value.

  • @NiceOCGuy1981

    @NiceOCGuy1981

    3 жыл бұрын

    No it can't, a moble home depreciates no matter what. It's a house on wheels. Granted, yes the land will retain value or go up, but not the moble home.

  • @nathandean6753

    @nathandean6753

    3 жыл бұрын

    @@NiceOCGuy1981 nah new mobile homes hold value for awhile

  • @matthewwilliams9200

    @matthewwilliams9200

    3 жыл бұрын

    people try to cover up the bad mobile home purchase by trying to take the wheels off and make additions but that is only a bandaid that slows the bleeding not addresses the problem. he over splurged on the mobile home he should have bought cheap one built his house and flipped that mobile home quick as he could after he moved out

  • @HotelBravo556

    @HotelBravo556

    2 жыл бұрын

    @@NiceOCGuy1981 you have literally no idea what you’re talking about. I bought a single wide for $85k, lived there for two years, and sold it for $155k. Also, in that time, the lot rent went from $348 to $695. Still almost doubled.

  • @NiceOCGuy1981

    @NiceOCGuy1981

    2 жыл бұрын

    @@HotelBravo556 not much appreciation

  • @BilmaTena
    @BilmaTena3 жыл бұрын

    Mobile homes now days are not the same as 1970s. Bad advice I always agree with dave not today.

  • @fondrenhomestead5180
    @fondrenhomestead51803 жыл бұрын

    This is an issure i have, if your wanting a nice Mobil Home and dont plan to move outta it, what the flip does it matter what its worth 😂 your in a nice double wide, no morgage, and living comfortable. i love my PAID for Double wide

  • @saraw112

    @saraw112

    3 жыл бұрын

    I was thinking the exact same thing!

  • @irunthestreets

    @irunthestreets

    3 жыл бұрын

    it depends where you put the mobile home, you can have the home paid for but still have to pay lot fees for the rest of your life.. i think it depends where you put the home and what land it is on

  • @choreomaniac
    @choreomaniac3 жыл бұрын

    He said fiancée at about 0:14 then said they had been married for four months. Weird.

  • @JessNova

    @JessNova

    3 жыл бұрын

    It took me a good six months before I remembered to consistently refer to my husband as such rather than as my fiancé or even boyfriend. It's a lot of change to take in sometimes!

  • @zohramartini9425

    @zohramartini9425

    2 жыл бұрын

    @@JessNova totally agree especially when you have been with someone for years before getting married

  • @jaredfulcher4890
    @jaredfulcher48903 жыл бұрын

    I'm guessing that house is a decent manufactured home, and not something you can just hook up to a truck and drive away with it

  • @marcarrera4904
    @marcarrera49043 жыл бұрын

    No... don't sale and move to apartment im sure it will be same monthly payment... just live in it... and save to build a home. Dont rush to pay it off. Once your home is built then sale... so many people buy land buy travel trailer and build on land. You already have essentially a travel trailer.. so just plan on saving to build your dream home. Moving to apartment and paying the same monthly payment essentially is the same as burning your money as well...

  • @JesusCervantes-vl4mb
    @JesusCervantes-vl4mb3 жыл бұрын

    Keep the mobile home, pay it off and save for five years or more to pay cash for a house 🏡 dave is wrong on this smh

  • @grod805

    @grod805

    3 жыл бұрын

    They can even rent it when they move into their custom home.

  • @JesusCervantes-vl4mb

    @JesusCervantes-vl4mb

    3 жыл бұрын

    @@grod805 even better, well said 👌

  • @Brandy21222

    @Brandy21222

    3 жыл бұрын

    @@grod805 We did the same thing. Bought one in our early 20's then turned it into a rental. We sold it in 2019 it was 18 years old and we still got 110k for it.

  • @MikeThePike316

    @MikeThePike316

    3 жыл бұрын

    He risks owing more than the mobile home is worth. How is it wrong to mitigate that loss by selling early to retain whatever equity the home has? Either he does it now or he risks taking a huge loss later.

  • @JesusCervantes-vl4mb

    @JesusCervantes-vl4mb

    3 жыл бұрын

    @@MikeThePike316 he can rent the mobile home and its an infinite return, he will gain the money back in a few years

  • @tabithaslayton419
    @tabithaslayton4193 жыл бұрын

    Tell people that you are buying a tiny home “wow! That’s great, they are so much cheaper and practical!” Tell them you’re getting a mobile home “ wow! What a bad move, it won’t hold value!” In the south mobile homes are very common and they still sell. I do agree that without the land, he’s going to have a harder time selling it, though.

  • @NiceOCGuy1981

    @NiceOCGuy1981

    3 жыл бұрын

    Exactly.

  • @darthenx2585
    @darthenx25853 жыл бұрын

    He could also keep the mobile home to rent out long term

  • @front331

    @front331

    3 жыл бұрын

    I like that.

  • @bastionwolf

    @bastionwolf

    3 жыл бұрын

    Right! It needs to become a rental property! If it's as nice as everyone is saying it is then they won't or shouldn't get a bad tenant which means they won't thrash the place. They should get a nice older couple looking to settle down and then just keep them for as long as possible then when they move out in ten or so years clean it up and sell it and the land and probably make more money then they would've if they sold now. Plus they get all the rental income.

  • @vigilance4749

    @vigilance4749

    3 жыл бұрын

    And it will be on the same land that he owns.

  • @bluegillmich

    @bluegillmich

    2 жыл бұрын

    I hate that. ( just what he wants a renter on his family land)

  • @sharonc316
    @sharonc3163 жыл бұрын

    Our mobile home went up in value here. Old formula IMO. What if this guy Likes his mobile? He owns the land. Still follow baby steps tho. Another option would be to live in mobile and build home nearby.

  • @rodneyperry7940
    @rodneyperry794010 ай бұрын

    You need to think of the mobile home as a rental and once it reaches zero value and it’s paid off, that’s free rent for life. A mobile home on your own land is a much different thing than on rented land. He can also rent it out in the future.

  • @frkennels1448
    @frkennels14483 жыл бұрын

    Dont sell the home, dave some times just doesn't help the people correctly

  • @grod805

    @grod805

    3 жыл бұрын

    Agreed. Just live there. Who cares if it goes down in value. You're not getting free rent at an apartment anyway

  • @beautfullymelanated4719

    @beautfullymelanated4719

    3 жыл бұрын

    Agree! If his purpose is to live in it then why does it matter if the value is depreciating?? If they decide to build a house later on the land then the mobile home is still there for future generations to live in to avoid the rent trap. One size does not fit all, I think this guy’s plan better fits his personal scenario rather than Dave’s plan.

  • @mannyjeanpierre4062

    @mannyjeanpierre4062

    3 жыл бұрын

    its basically a car. He spent too much for it and its losing value everyday. He needs to get rid of it ASAP. Dave gave him great advice

  • @bindingcurve

    @bindingcurve

    3 жыл бұрын

    @@mannyjeanpierre4062 It is a LOT easier to sell a car than a double wide. The car you can just drive off. You can finance a used car. They will be lucky to get 30K for the thing because evetime you move it it will cost a lot of money and it will take damaged.

  • @MikeThePike316

    @MikeThePike316

    3 жыл бұрын

    @@bindingcurve - So, if it's harder to sell a mobile home, why wait until the home is worthless before selling?

  • @Zaerki
    @Zaerki3 жыл бұрын

    I mean, technically the mobile home isn't a bad play in his situation. Since he owns the land, he can live in the trailer until it's worthless. Meanwhile, invest and save to have a real house built. The trailer or living in an apartment is a loss either way.

  • @elizabethakalizzy
    @elizabethakalizzy3 жыл бұрын

    Love watching these 🔥💕✨

  • @stevenporter863

    @stevenporter863

    3 жыл бұрын

    They are entertaining

  • @israelmondragon6195
    @israelmondragon61953 жыл бұрын

    Why do people talk down on mobile homes I live in one and it’s amazing u can’t even tell the difference

  • @jayritchie6596

    @jayritchie6596

    3 жыл бұрын

    Its not about mobile homes - its about not owning the land. You have a depreciating asset if you don't own the land it is sitting on. Nothing really wrong with mobile homes if you do.

  • @crystalhull1677

    @crystalhull1677

    3 жыл бұрын

    What Jay Ritchie said.

  • @stephensantiago603

    @stephensantiago603

    3 жыл бұрын

    @@jayritchie6596 He owns the land. He told Dave Ramsey that the dead to the land is in his name.

  • @scotth1299

    @scotth1299

    3 жыл бұрын

    They are more difficult to get financed, and that is their BIGGEST hurdle. Since most normal people buy using a mortgage. They typically are the cheapest $ / sq ft of living space.

  • @Lon1001

    @Lon1001

    3 жыл бұрын

    There is nothing wrong with a well built modular/manufactured house. They don't depreciate faster than a traditionally built house. The reason they are crapped on is because they used to be built cheaply and are expensive to heat, but more so they are usually in trailer parks where you pay exhorbitant lot fees and if you become delinquent the park seizes your trailer. Think of a double wide as a luxury 'tiny home' - affordable dwelling with the most important aspect being where it's located. On land you own they are great (but not if you are financing at really steep rates).

  • @too-da-loo
    @too-da-loo3 жыл бұрын

    He seemed like a bright guy so I going to take a guess that the mobile home is not some typical cheap cardboard shell. It is unlikely he could sell it. What would I do? I would stay living there but get a construction loan to build a house. Move the 'mobile' home if it is in the prime location. Then rent out the mobile home once the main house is built. Have renters pay for my mistake.

  • @clarifyingquestions

    @clarifyingquestions

    3 жыл бұрын

    Yikes - he has 69k LEFT to pay on a mobile home which is a depreciating "asset". Not smart.

  • @Lon1001

    @Lon1001

    3 жыл бұрын

    @@clarifyingquestions mobile homes don't have normal mortgages, probably high interest rate. traditional homes are depreciating assets too.

  • @prkzoomin6994
    @prkzoomin69943 жыл бұрын

    Good Quote, Don't compare yourself with anyone in this world, if you do so, you are insulting yourself.

  • @Montblanc1986
    @Montblanc19863 жыл бұрын

    those double wides can be permanently attached to a foundation just like a stick built home is tied in.

  • @superkmpm

    @superkmpm

    3 жыл бұрын

    The materials just aren't as rugged as a typical stick build. There are exceptions to both but generally a stick build holds it's value better

  • @travisclark7892

    @travisclark7892

    3 жыл бұрын

    Because 2x6s and plywood are different between the two.

  • @aolvaar8792

    @aolvaar8792

    3 жыл бұрын

    @@travisclark7892 Manufactured homes are built to a standard, Modular and site built have a different standard. Do some research.

  • @universalask

    @universalask

    3 жыл бұрын

    I dont think anyone wants them. Thats what the problem is.

  • @aolvaar8792

    @aolvaar8792

    3 жыл бұрын

    Unlike a modular home, the steel frame on a manufactured home can not be removed, This is why the attachment is not "permanent", Jack it up put wheels on it, remove foundation and roll. a modular home, the steel frame is removed and the house is lowered on the foundation bolts.

  • @benje4272
    @benje42723 жыл бұрын

    At where I am at a nice double wide sells for around 100k. If be has the land I would keep the double wide and rent it out or live in it as the payments are so small compared to a rental apartment. Most of my family lives in double wides that they built onto making them into 5-6 bedrooms homes and added a garage

  • @ChrisMFlorida
    @ChrisMFlorida3 жыл бұрын

    Things to not take Dave's advice on: Investing & Mobile Homes.

  • @midlifecrisis7888

    @midlifecrisis7888

    3 жыл бұрын

    Hookers and blow ?

  • @Je.rone_
    @Je.rone_3 жыл бұрын

    I'm terrible at guessing the callers age by their voices, I would've guessed like 38 not 25.. he's a year older than me and I sound like i'm in middle school still

  • @MasterInHD

    @MasterInHD

    3 жыл бұрын

    Bro, same, there’s no way this guy is 25, more like 35.

  • @Simon-oy7kf

    @Simon-oy7kf

    3 жыл бұрын

    @@MasterInHD I know plenty of 25 year olds that own a home

  • @godisawesomestudios9583
    @godisawesomestudios95833 жыл бұрын

    I would pay the house off.

  • @Muggins1046
    @Muggins104626 күн бұрын

    Why are caravans and mobile homes so worthless in the US? I’m in Australia and you can still get really good money for them decades later if they’re in good condition. I feel like the caller’s biggest mistake is buying new. If he bought secondhand it would’ve already lost the bulk of the value it’s going to lose the same way a car does

  • @clarks2001
    @clarks20013 жыл бұрын

    Talking about selling the mobile home... Why ain’t you suggesting he live in it until he builds a house then move the mobile home to the spare lot he’s gonna buy then rent the place out? Would be worthless to sell but renting is a different story.

  • @kennethanderson8505
    @kennethanderson85052 жыл бұрын

    I live north of Gainesville, Florida. I am no longer sure if a mobile home is still a depreciating asset in Florida. The building codes were changed after Hurrican Andrew blew through south Florida. The new codes substantially upgraded what a mobile home had to be. Several that I have been in were extremely solid. I would be very curious to see what a used mobile home could bring. Frequently, a loan for a mobile home can include a well, septic tank and driveway culvert. This could be why it seems that the mobile home is worth less than the loan amount. A well-maintained mobile home may be able to keep its value. I would be cautious about selling the mobile home.

  • @PogLife2171
    @PogLife2171 Жыл бұрын

    Okay so selling the mobile home and throwing money into a renters pocket makes more sense than just paying off your mobile home that even if it depreciates you could still get some money back? That's really stupid Dave.

  • @AbidingHopeMentalHealthCoach
    @AbidingHopeMentalHealthCoach Жыл бұрын

    My mom bought a used mobile home. It was about 30 years old when she died. We sold the place for the value of the land and the garage. The house was a liability to whoever bought it. It was falling apart. I will never buy a mobile home ever!

  • @investinstyle-financeinves1181
    @investinstyle-financeinves11813 жыл бұрын

    The baby steps are ordered for a reason.

  • @edd06001

    @edd06001

    3 жыл бұрын

    That's the great thing about rules. they are meant to be broken.

  • @stevenporter863

    @stevenporter863

    3 жыл бұрын

    @@edd06001 Dave thinks of his steps like a religion - he doesn't want steps out of order. Sounds like Steps 1-3 should be first in that order but others can be mixed up depending on each person's situation. Flexibility is key.

  • @a33m3a

    @a33m3a

    3 жыл бұрын

    they work for some but for me I am building my emergency fund and paying off debt at the same time. my specific situation is uncertain in a year in terms of work so I'd rather have that emergency fund ready (that takes into account my debt payments).

  • @mattbenz99
    @mattbenz993 ай бұрын

    He doesn't have kids, so he can already skip #5. However, #4 is one with a major opportunity cost for skipping, especially if your employer gives you an employer match. If his employer matches anything in his 401k, then he 100% should be taking that immediately.

  • @sunnydays4966
    @sunnydays49663 жыл бұрын

    KZread need to stop the fake Dave ramsey replys.

  • @DrogoBaggins987
    @DrogoBaggins9873 жыл бұрын

    This is relatable. I'm wasting money on rent because I got stuck in the rent trap for various reasons. Like Dave I just refuse to borrow money for anything. I don't know how I'm ever going to get out of paying rent though. I'm not sure what to do.

  • @aolvaar8792

    @aolvaar8792

    3 жыл бұрын

    In the mid 80's, I signed a 30 year lease on a 1 bd, 1bth in the Bay Area. I had friends who were paying $2000/mo by 1995 In 1995, I was offered a buyout, took it and left the State. Renting may not be wasting money.

  • @DrogoBaggins987

    @DrogoBaggins987

    3 жыл бұрын

    @@aolvaar8792 Looks like you got a good deal. Maybe I should get serious about moving to a state that better suits my budget.

  • @aolvaar8792

    @aolvaar8792

    3 жыл бұрын

    @@DrogoBaggins987 You can buy a nice house in rural America $50-100K.

  • @DrogoBaggins987

    @DrogoBaggins987

    3 жыл бұрын

    @@aolvaar8792 It's difficult to find good jobs where the real estate is affordable.

  • @aolvaar8792

    @aolvaar8792

    3 жыл бұрын

    @@DrogoBaggins987 I agree, but it can be done. I left a $130K and took a $65K job. Houses went from $300K to $100K

  • @bbkr7910
    @bbkr79103 жыл бұрын

    This is dumb! Sell the mobile home but pay someone else to live in an apartment? Just ride that pony until it dies after 20 years and then build what you want on your larger amount of land.

  • @cantgetright742
    @cantgetright742 Жыл бұрын

    Uh no. Even a trailer in FL is 100k plus.

  • @jeremyfree2fish586
    @jeremyfree2fish5863 жыл бұрын

    If you don't plan on selling it what does it matter if the house is going up or down in value. Do not get a construction loan my friend thats a bad idea keep on just how your going but do not move the baby steps around.

  • @uriel-heavensguardian8949
    @uriel-heavensguardian89492 жыл бұрын

    So is it because those things depreciate?? I thought about this too! But it seems it’s not a good idea!

  • @mistere5857
    @mistere58573 жыл бұрын

    A lot of people in the comments are getting modular homes mixed up with mobile homes. The dude said they live in a "double-wide mobile home". That is not the same as living in a modular home.

  • @jamesjones356
    @jamesjones3562 жыл бұрын

    Personally I would’ve invested in buying the other lots. Rented out the mobile home and built a house

  • @joshuapiatt3713
    @joshuapiatt37133 жыл бұрын

    This is definitely not good advice for this gentleman I am a Dave Ramsey follower but not religiously oh, it seems like this man has a pretty good handle on his finances and is able to pay off his debt and stay debt-free. Making $100k a year he could pay off that house and live cheaply and have so much free money to invest with

  • @rosspimental8384
    @rosspimental83842 жыл бұрын

    I think Dave missed it. The kid said he wanted to buy the neighboring property to build a home on. I bet he only has a life estate in the family property, meaning he can’t sell it whether it and it goes to another heir when he dies. In that situation, the mobile home makes more sense - he wouldn’t be able to sell any house he builds on the land but at least could move the trailer.

  • @666dynomax
    @666dynomax3 жыл бұрын

    Hard to save up when you have a depreciating asset going down quicker than your saving. Sell it and build what you want

  • @jendiaz4718
    @jendiaz47183 жыл бұрын

    I would custom build my dream home. And rent the mobile out after I move into my dream home.

  • @jesusbarajas9444

    @jesusbarajas9444

    3 жыл бұрын

    Duh!

  • @jendiaz4718

    @jendiaz4718

    3 жыл бұрын

    @@jesusbarajas9444 Dave Ramsey just told the guy to sell so I'm obviously saying something different.

  • @christianc7420

    @christianc7420

    3 жыл бұрын

    Smart

  • @vickieclark5931

    @vickieclark5931

    3 жыл бұрын

    I'm sure the monthly finance on the mobile home is much less than the rent that he would be paying. It just seems logical to keep the mobile home, especially since they do make a descent income.

  • @richgenix
    @richgenix3 жыл бұрын

    No

  • @curiouscat3384
    @curiouscat338410 ай бұрын

    With 6 acres of land and possibly more in the future, I would keep the darn mobile home and rent it out after building the permanent house. I can understand he was trying to be frugal when he bought the mobile and selling it now at a loss and going to rent an apartment sounds incredibly Stoopid! A nice, well kept mobile home is VERY rentable!

  • @israelmondragon6195
    @israelmondragon61953 жыл бұрын

    Don’t sell the home rent it out once the new home is built

  • @Jon_Doe

    @Jon_Doe

    3 жыл бұрын

    easier said then done u dip

  • @bindingcurve

    @bindingcurve

    3 жыл бұрын

    @@Jon_Doe Sell if AFTER the new home is built

  • @Jay-py1ow
    @Jay-py1ow3 жыл бұрын

    Horrible advice!! Like what?? I’m confused how renting is better than the mobile home. And without taking the time to explain it you guys can do the math yourself with his timeline and figure it out.

  • @sherridevries9144
    @sherridevries91443 жыл бұрын

    Keep the mobile and rent it out!

  • @bastionwolf
    @bastionwolf3 жыл бұрын

    Rent it out!

  • @steezyfred7305
    @steezyfred73053 жыл бұрын

    Ok

  • @phillipoliveira5232
    @phillipoliveira52323 жыл бұрын

    Wow

  • @jodylarson4697
    @jodylarson4697 Жыл бұрын

    I take everything Dave says about manufactured housing with a grain of salt. He's just not keeping up on this. It's true that these homes do not appreciate the way stick-built homes usually do, but they do not always drop in value the way a car does--especially in Florida, where people love them as second homes for the winter. Right now I could sell my double-wide plus the land that it's on for 50% more than I paid for it. A big chunk of that is the land value, of course. The caller could get that manufactured home paid off and then rent it out. He's in Florida, so he would probably not have any problem finding seasonal renters willing to pay a good price. But i agree that he should not rearrange the baby steps.

  • @Sotweetie
    @Sotweetie3 жыл бұрын

    I'd like to know why the advice wasn't to keep paying the mortgage on that trailer (assuming it's less than or equal to rent) while building a new place on the land. Truly don't understand - does a mortgage count against you differently than a lease when applying for a construction loan?

  • @hall0341

    @hall0341

    3 жыл бұрын

    Yes, they are considered differently. The mortgage is a debt, the lease is a liability.

  • @mikstratok
    @mikstratok3 жыл бұрын

    No Dave, homes don't go up in value, the LAND underneath goes up in value.

  • @lunagregoria8827
    @lunagregoria882710 ай бұрын

    Everyone knows Dave Ramsey is going to say that they are not special. But sometimes people want to hear why this is.

  • @robert.lafferty
    @robert.lafferty2 жыл бұрын

    Am I missing something here or did Dave throw his "never borrow money" rule out the window when he suggested a construction loan? I'm relatively new to his program so I'm just trying to understand if that rule doesn't apply to buying a home (i.e. would he say mortgages are okay, etc).

  • @rebeccazeman9309

    @rebeccazeman9309

    8 ай бұрын

    According to Dave, mortgages are fine if you do a 15 year fixed rate loan and put 20% down.

  • @TheTurdballs420
    @TheTurdballs4203 жыл бұрын

    I always give my comment a thumbs up just to get the ball rolling

  • @Smsrules1
    @Smsrules13 жыл бұрын

    Anthony "if you don't have a second job you're not doing it right" Oneal

  • @trippin9298

    @trippin9298

    3 жыл бұрын

    Asking what was his income before suggesting a 2nd job would've been appropriate.

  • @CoinAGeek
    @CoinAGeek3 жыл бұрын

    This guy called in before

  • @Lon1001
    @Lon10013 жыл бұрын

    The modular house isn't depreciating or deteriorating as fast as Dave thinks it is. It IS a home. There is no way that selling it now will put the guy in a better cash situation. Dave touched on the real answer - take extra work or find other ways to increase income. Not sure why it's taken him so long to pay so little on it - likely steep interest rates. If it were me I'd work more, get the emergency fund up, pay off trailer, save up down payment then take a mortgage to build a house on the property. After, sell the trailer and put the proceeds in Roth IRA and get back on track at baby step 4/5

  • @bettysmith4527

    @bettysmith4527

    3 жыл бұрын

    This is not a modular house, it's. trailer home, there is a large difference!

  • @Lon1001

    @Lon1001

    3 жыл бұрын

    @@bettysmith4527 maybe not a modular in the sense that modulars are essentially large traditional houses built offsite, but it's likely a manufactured home that is not at all what a trailer/mobile home was in the 1970s. Newer manufactured homes (i.e. 'trailers') can be very well built, require less maintenance than a traditional house and keep their value better than a detached dwelling too (when not tied up with the price of the land it's on).

  • @Sexy40baby1
    @Sexy40baby13 жыл бұрын

    Some people like trailers

  • @rare2find0918
    @rare2find09183 ай бұрын

    I don't think ANYONE should call this show if they are living in or have Interest in living in a mobile home as Dave (and company) are always shooting it down. They are so set on 'getting an apartment until you can buy a house' idea that they don't even look at the scenario presented by the callers! Keep your mobile home....on your land! Pay it off and either continue to live in it or rent it out! Appreciation is not the end goal with this.... affordable living and/or potential rental income is!

  • @RJRussoVids
    @RJRussoVids3 жыл бұрын

    "We ONLY owe $59K on our mobile home." 😳

  • @grod805

    @grod805

    3 жыл бұрын

    In a way i get where hes coming from. Why rent an apartment for $1500 a month when you can live on your own land and just finance a mobile home. Yes it will go down in value but at least you can sell it at the end or even rent it out to someone

  • @clarifyingquestions

    @clarifyingquestions

    3 жыл бұрын

    @@grod805 Never buy an expensive depreciating asset using money you do not have. Yikes!!

  • @Lon1001

    @Lon1001

    3 жыл бұрын

    @@clarifyingquestions that's what mortgages are, just that the depreciating building is tied up with the value of the land.

  • @clarifyingquestions

    @clarifyingquestions

    3 жыл бұрын

    @@Lon1001 Not at all!! Some banks will not even give a mortgage for a mobile. I am with Dave on this. Mobile - moveable! sheesh done here

  • @bbkr7910

    @bbkr7910

    3 жыл бұрын

    @@clarifyingquestions that's right, you should pay money on something you will never own... like an apartment... -_-

  • @Justin-vb4ek
    @Justin-vb4ek3 жыл бұрын

    I clicked just to go to comments and say "No..."

  • @yourippedmyshirt1269
    @yourippedmyshirt12693 жыл бұрын

    Not if you follow Dave's plan it doesn't

  • @bindingcurve

    @bindingcurve

    3 жыл бұрын

    Dave's plan does not include mobile homes.

  • @jarrettpierce5626
    @jarrettpierce56263 жыл бұрын

    firefighter and nurse living in a mobile home

  • @curiouscat3384

    @curiouscat3384

    10 ай бұрын

    She's going to school to be a Nurse Practitioner. That's an advanced degree and she will be making a LOT more than that

  • @matthewobrien7526
    @matthewobrien7526 Жыл бұрын

    he called his wife his fiancé - let’s hope she doesn’t listen lol

  • @ChaosActual1
    @ChaosActual15 ай бұрын

    Build a house? This video was posted two years ago. During the height of covid inflation. He would have been better off burning $60,000 than trying to build a house. I'll grant you that a double wide is a depreciating asset, but in 10 years, it's still going to be a house, the same for 20 years. With the time that house could given him, he could have saved up enough to buy the house that he wants to live in on his land and then rent out the double wide for additional income while paying for any additional houses that he might want to build on the land and maybe eventually replacing the double wide.

  • @jimroscovius
    @jimroscovius3 жыл бұрын

    Why don't people speak into their phones?? That is SO ANNOYING!!

  • @vincentortega4284
    @vincentortega42843 жыл бұрын

    Just follow the steps Dave has. They work perfectly.

  • @LauraLParr
    @LauraLParr3 жыл бұрын

    Why do they keep asking this question!

  • @fhuber7507
    @fhuber75072 жыл бұрын

    If you swap steps its not the same plan and it won't work the same.

  • @jocelynswan4339
    @jocelynswan43393 жыл бұрын

    I didn’t even watch the video yet, but the answer is no lol

  • @weaselton
    @weaselton3 жыл бұрын

    MH don't drop that much.

  • @jesusbarajas9444
    @jesusbarajas94443 жыл бұрын

    Rent the motorhome, duh!

  • @KidCity1985
    @KidCity19853 жыл бұрын

    I think Dave wants to buy a 3 yr old mobile home. I completely disagree.

  • @lmt6600
    @lmt66003 жыл бұрын

    Mr caller, will you Please stop what you are doing, hold the phone to your mouth so we can hear you speak. I can guarantee you that he was holding his cellphone on his shoulder.

  • @angelellis7690
    @angelellis76903 жыл бұрын

    So your saying you approve of a construction loan?

  • @matthart4465
    @matthart44653 жыл бұрын

    Never in a million years, when we are making 100k per year, would I ever live in a mobile home. You are better off renting a house than owning that depreciating trailer.

  • @Lon1001

    @Lon1001

    3 жыл бұрын

    Traditionally built houses depreciate almost as much as modular, and when you factor in upkeep and maintenance probably cost a little more.

  • @dedalliance1

    @dedalliance1

    3 жыл бұрын

    Yeah throw away your money to rent instead of actually owning something! That's the American way.

  • @JosephDickson
    @JosephDickson3 жыл бұрын

    It will probably cost just as much to sell it as it would to pay it off. 😬

  • @-.____________________________
    @-.____________________________3 жыл бұрын

    Title should be make* not makes

  • @CaseyBurnsInvesting
    @CaseyBurnsInvesting3 жыл бұрын

    Another day, anther person trying to switch up the recipe.

  • @aolvaar8792

    @aolvaar8792

    3 жыл бұрын

    Once he pays off the manufactured home, he can De-activate the Title and make the manufactured home, Real Property.

  • @appleforever6664

    @appleforever6664

    3 жыл бұрын

    Spammer

  • @djpuplex
    @djpuplex3 жыл бұрын

    Mobile home 😆. $70k 🤣 wow.

  • @davidanderson2519
    @davidanderson25193 жыл бұрын

    Nuance - def. sensibility to, awareness, or ability to express delicate shadings (as of meaning, feeling, or value). As in. ... Dave Ramsey lacks the ability to see nuance in every financial situation.

  • @nbdysfool3
    @nbdysfool33 жыл бұрын

    Lol....really? Not even gonna listen to this one! Lol

  • @marcarrera4904

    @marcarrera4904

    3 жыл бұрын

    Only time i didnt really agree with dave 🤯😱😅

  • @Kysen10
    @Kysen103 жыл бұрын

    $100k income and living in a trailer, talk about weird.

  • @dedalliance1

    @dedalliance1

    3 жыл бұрын

    Financially responsible people are weird, you're right.

  • @curiouscat3384

    @curiouscat3384

    10 ай бұрын

    BECAUSE he wants to live on the family land and wait until wife finishes her degree and they can save more and his wife doubles her income to build their permanent home - NOT weird it's frugal and smart long term planning in my book!

  • @savageelle9077
    @savageelle90773 жыл бұрын

    Where is Chrls h0G@n?

  • @stevenporter863

    @stevenporter863

    3 жыл бұрын

    Dave only likes 'yes men' that agree 100% with him in their work and personal life too.

  • @savageelle9077

    @savageelle9077

    3 жыл бұрын

    We need transparency as a viewer of the program!!!

  • @stevenporter863

    @stevenporter863

    3 жыл бұрын

    @@savageelle9077 You mean consistancy? There is no transperancy since Dave never mentioned what happened to CH (maybe for legal reasons but he just acts like Chris was never a big part of the show) or how he really made his money - not three jobs, selling the car, rice and beans as well as paying cash. If he is doing a show it is total disrespect to cherry pick what to share.

  • @Ojisan642

    @Ojisan642

    3 жыл бұрын

    Fired for violating the code of conduct. Not a mystery.

  • @savageelle9077

    @savageelle9077

    3 жыл бұрын

    @@stevenporter863 no because I want to know what happened?? And let his viewers judge him for his actions

  • @Laila19464
    @Laila194643 жыл бұрын

    First like 👍💕💕💕

  • @annhopkin5079
    @annhopkin50799 ай бұрын

    I hope this kid has enough sense not to listen to Dave today

  • @insideoutsideupsidedown2218
    @insideoutsideupsidedown22183 жыл бұрын

    Isn't babys steps 4, 5, 6 all done at the same time anyway?