No. Theres nothing better than owning your property 100% and that there are no special clauses to it.

@Bigbilly-ms9bn

2 жыл бұрын

Except the property taxes. And if you’re in the way of whatever city you’re in. No one actually owns anything.

@miketheyunggod2534

Ай бұрын

They will own it 100%. Try listening buddy. It’s theirs.

He’s still going to do it. He’s itching to own that lake house, you can hear it in his voice.

@dagobert1234321

2 жыл бұрын

I would also, it’s going to be in his name…

@Ka_Gg

2 жыл бұрын

I said the same thing. LOL. You can hear from when he first starts talking, his mind won't be changed on this one

@reese85

2 жыл бұрын

@@dagobert1234321 exactly

@sicsemper02

Жыл бұрын

He should do it. Sorry… but he should. And Dave knows it. I’m not mad at Dave. I’m debt free and like Dave a lot… but he should do this deal

@BlueDauntless

2 ай бұрын

@@sicsemper02Mixing business with family… recipe to destroy relationships

These are the kind of problems I look forward to having.

This guy has the in-laws pushing for this, the wife pushing for this and deep down inside he wants a lake house... we all know it's going to happen

@Engineering2AI

Жыл бұрын

It is a good deal. Dave probably not going to do it but you can tell that he’s not saying this guy shouldn’t do it

@ConvictsCranium

Жыл бұрын

Sounds like a good investment - take the loan!

@fauxbro1983

9 ай бұрын

Yeah guys gonna get divorced run off with a younger woman and live happily ever after

No - every family has to have their own place and space. We did a mother in law arrangement and have raised two grandkids - I would like my own life back please. I would not recommend a shared home for any reason other than an emergency with a stated exit date - you will regret this if you do this.

@terriesmith2616

2 жыл бұрын

Most people want to learn this lesson the hard way.

@anawarriner7456

Жыл бұрын

Totally agree with you!

DO NOT BUY A HOUSE WITH FAMILY! No matter how much you think you get along your wife will want to make it her own and her mother will have other ways to set up her home, it will cause strife!

@stevenporter863

2 жыл бұрын

Agreed. Playing with fire.

@jeffreywhitaker5154

2 жыл бұрын

Agreed

@dkzabe1121

2 жыл бұрын

Every single house decision will have to be made jointly. Trust me the parents will act like it’s theirs and the daughter and son in-law will be stuck with the bills of maintaining while the parents live there rent free. They will never be able to enjoy the property without the in-laws there telling them they should do this or that to the property.

@TheNando1300

2 жыл бұрын

Unless you buy it before you tie the knot 😅

@ChrisplussTina96

Жыл бұрын

Completely agree. Every couple needs their own space period

As someone who lives with in-laws and is trying to get out, don't do it. I don't care how good the relationship is, when you need to get away and want to be with JUST your family, it will be tough and can easily cause bumps in the relationship. It's not worth it. Get a house next door

@reese85

Жыл бұрын

lol he’s not living with them full time! Only in the summer

@carlinepinckneymhs5308

Жыл бұрын

I'm in the same boat. My in laws are great but I truly prefer my own place!

@BlueDauntless

2 ай бұрын

@@reese85And?

@reese85

2 ай бұрын

@@BlueDauntless and the point I was making is that there situation won’t be nothing like hers. It seems like from reading her comment that she lives with her in laws full time vs the caller just staying with them over the summer for a few months

@miketheyunggod2534

Ай бұрын

Why don’t you try listening bud. You do have ears right?

I personally know someone who bought a house with their in laws. Came back from vacation, for sale sign in the yard and were told to get out. NEVER do business of any kind with family.

@anthonydavis3424

2 жыл бұрын

Yes

@jimroscovius

2 жыл бұрын

Agreed!!

@katemiller7874

2 жыл бұрын

Some of us have great families.

@reese85

2 жыл бұрын

It’s goin to be in his name! So they won’t be able to do that

@jimroscovius

Жыл бұрын

@@katemiller7874 And great families have been damaged by doing stuff like that.

NEVER buy a house with anyone else but your wife. You're just inviting trouble.

My wife owned a house with her in-laws aka my parents and it was a very bad idea because when my dad went absolutely off the deep end alcoholic it turned the house into a bizarre tug of war when we tried to intervene to get my dad help. Don't do. Don't do.

Speaking from experience do not go into business with any family members.

Man they’re just asking for trouble

@stevenporter863

2 жыл бұрын

Too complicated and too many things can go wrong ( in law involved, enough said )

@Ruth-vy1qj

2 жыл бұрын

Never never do that it nothing like having ur own private place I love peaceful home with less people. When I get home from working or doing other errands I need my space.

@anthonydavis3424

2 жыл бұрын

This guy is whipped

@reese85

2 жыл бұрын

@@Ruth-vy1qj lol this ain’t be there main home

He said they will give him 50% of the DOWN PAYMENT not half of the price for the lake house

@westbccoast

Жыл бұрын

Exactly, it's not $200K, it's more like 40K with a lot of strings, bad bad idea

@Blessed-Grateful

Жыл бұрын

Caught that too; big difference. I’m surprised they didn’t catch that.

No no and NO!

This guy clearly never wants to get laid again. Already has kids but now he wants to live with in-laws too?

Dave has always said never to buy a house with someone you’re not married to, why is he even entertaining this?

@cutenobi

Жыл бұрын

Dave is saying he’s against it in a different way.

@BlueDauntless

2 ай бұрын

Grand babies! Who knew DR had baby rabies.

Thanks but no thanks.

No! No! No! Live in a tent, anything!!!

Caller. DO NOT DO THIS. it doesn’t matter how good your relationship is with them.

Dave doesn't like these types of agreements. Dave will say no. 🤣

Anything that involves in-laws is an immediate no for me lol

Dave's face in the thumbnail was my face when I read the title. 😂😂 And I'm looking to get a house by Lansing where my inlaws live... BUT I'M NOT BUYING IT WITH MY INLAWS!

That guy is getting the loan.

@mikeavila6921

2 жыл бұрын

Lol he already got approved lol

@Kyle_Mo

2 жыл бұрын

@@mikeavila6921 he was actually sitting at the bank waiting for them to bring the paperwork to the desk to be signed while talking to Dave.

@mikeavila6921

2 жыл бұрын

@@Kyle_Mo I bet his wife already picked out furniture and his mother in law hates the new decor.

I'm a little surprised the relational element of this proposed deal didn't figure into the discussions somehow. Maybe co-owning and sharing a lakehouse for 3-4 months/year with your in-laws just doesn't trigger anyone's warning sensors the way living together year-round would.

@BlueDauntless

2 ай бұрын

Well because the in laws would get full access to grandbabies and Dave loves that idea

First, I don't care how well you get along with them living with relatives is tough, maybe if it had a separate entranceway. Second and most important which I didn't hear asked, are you the only children? If yes go to the first part, If not, forget it. You're 37 meaning most likely they're 57 - 62, they can live another 30 years.

@FortuneSeek3rz

Жыл бұрын

And in the next 30 years they can develop senility, dementia, and/or Alzheimer's disease. That will make you hate yourself.

Caller: My in-Laws ... Dave: No

It feels so good to be out of consumer debt! I still have student loans and my car note but will be knocking that down as well.

Short answer: No Long answer: Noooo!

That lake property is seasonal and also a liability. If it was income producing, then it's one thing. But they have to pay taxes, maintenance, and insurance that they use only for a portion of the year.

@SkyThoughtss

2 жыл бұрын

Yea thats the point of a lake house, its for vacations. You can tell dave knows its a good deal on paper, but he cant just break his own ideology over someone else's wants.

@JohnSmith-sl2md

2 жыл бұрын

air bb

The parents are smart. Why buy a summer home when you can sucker the son in law to foot half the bill?

I wouldnt do it with family. things could get weird especially if theres a disagreement on an upgrade etc. or what if you want to go up and they say "oh no we invited friends up this weekend so there wont be any room" Family deals like this have so many opportunities for things to go haywire

No

A mortgage is not the same as high interest debt. Save up a portion, take the 50% from the in laws and open a mortgage and pay it off like you did with your house. This lake house sounds like a good opportunity to spend time together as a family and that you can't put a price tag on. Rent it out when you are not there to generate extra money. With it being a lake house, that would be easy money.

How is this not the exact same thing as buying a camper you only use maybe twice a year?

@brianmcg321

2 жыл бұрын

Campers don't go up in value.

@MichaelAnderson-wk1no

2 жыл бұрын

Well if I'm not mistaken, I don't think Dave is a fan of campers lol

@Big-Government-Is-The-Problem

Жыл бұрын

lake houses generally go way up in value, campers go down in value

They just got out of debt. Hard No!

On this one; I'll say buy the house... you're debt free and its on sale, 50% off. 🤷‍♂️💁‍♀️

It would be better to buy 200k worth of etfs & mutual funds

Homie d riding in the beginning

5:20 that’s an amazing way to look at it. You could travel the world

NO!!! I don't even have to watch the video to know this is a bad idea.

@reese85

2 жыл бұрын

Maybe you should watch the vid, cuz it’s actually a good deal

Them opportunities don't come often!

"Can you sell the in laws?"

(I'm sure there must be timeshares at lakes on ebay for $1 they could go 50/50 on but I'm not going to mention that)

If it becomes a problem they can sell the house, Do It! Some people actually get along!

Based on the way this guy is talking, I have a feeling they are going to go through with this deal. You can still enjoy a lake house for cheaper

I love Dave-get the lake house.

@enricopallazzo3244

2 жыл бұрын

100%

@adamseidel9780

2 жыл бұрын

IF you like and trust your in-laws.

I say yes but not right now lake house isn’t worth going into debt too now with how much the prices are.if it was half that all go go for it

Don’t mix family and money…

So when the wife leaves him, or he leaves the wife, who's going to clean up this mess?

@alqoshgirl

2 жыл бұрын

Oh just stop with this doom mentality. Many of us take our vows seriously and don’t divorce. Why would you even marry if you think you might divorce

@DCLover72

2 жыл бұрын

THIS!!

@summerforever6736

2 жыл бұрын

That would never happen oh weith!

@reese85

2 жыл бұрын

It’s goin to be in his name!

@mikec.4343

2 жыл бұрын

@@alqoshgirl just because some of us take our vows seriously does not mean our spouses do.

Sounds like a time share they pay half you pay half and you get all the maintenance costs but they get to live in it during the summer and you don't

Noo! Even though you want the lake house thats a tough compromise

I love being debt free

@JakeStewart1343

Жыл бұрын

I love The Truth

@carojames6776

Жыл бұрын

I love the money.

No!

Ramsey is truly the coolest 👍blessing him for helping people with priceless advises❤️

No! No! For the love of all that is sacred, No!

NO!!!!

I am not borrowing money.Thank you sir

You would have to rent the house out during non summer time if you want it

Don't do it!!!

I would do that deal after he saves the other half in a minute

Nope! It ain't just a movie...

Don't do it!! Not worth it!!

Sure if you want to ruin your marriage.

No bin there done that once. Never again.only if can pay cash.

nice one

Don’t do it!

Get it. You can afford a 15 year $200k mortgage. Pay it off in 5-10 years.

No. No. No.

Run!!!

"Save up and pay cash." lol Some people will just Never have a lake house😆

Sounds like a good investment - take the loan!

"Should I Buy A House With My In-Laws?" Depends on how much you can get for them!

@mygoodlife204

Жыл бұрын

😂😂😂😂

Honestly i think its a great idea. It depends on the in laws obviously. But i personally live in a 3 generation household and its great expenses are tiny money is abundant and everyone is taken care off.

Oh he's getting the lake house lol

He should buy the lake house & then sell a timeshare to the in-laws.

@stevenporter863

2 жыл бұрын

That is one of the main points. He won't have the funds for a few years.

He has already bought it.

200k for a lake house here in Michigan does not exist...in Michigan a lake house for a lot of people is a right of passage.

@blk1735

2 жыл бұрын

He said that he's looking at a lake house for 400K.

@sarahconner9433

Жыл бұрын

Thanks for the info... I'm in Los Angeles.... And I don't have any idea why anyone would desire or brag about a lake house in Michigan...... Here in Beverly hills, BEL AIR, ya you know the weather and 40 bedroom house + pool and helipad is badass

Their combine income is $140k. That means take home income might be $110k. Plus they have kids and maybe cars and stuff, daily expenses. I don’t believe that they can safe $200 in 4 years. Even if they live frugally (and I don’t think they do). They need to save up to 50% income to save for $200k. Also, I think for that price you can rent some amazing rental cottage every year and still have money left to put towards investment and retirement. Doing 50% with the in laws, if you guys start having any disagreements with the parents about the house, relationships can go sour quickly.

This is a great opportunity. DAVE, common!

Problem I see is, elderly relatives may need help some day. So what if they show up at the lake house with dementia? Or a urine catheter? Will the caller and wife have to care for them? Will there be a paid caregiver in their lake home? I don’t like this. Rent a lake house with them for a few summers if you want.

I think its a good deal .

Wow interesting response from Dave

@Ka_Gg

2 жыл бұрын

Why you say that. His argument is you don't take out a loan for a toy

@joeyf6103

2 жыл бұрын

@@Ka_Gg I say that because I’ve never seen him so tempted

@Ka_Gg

2 жыл бұрын

@@joeyf6103 you are right though. He almost went for it also.

@joeyf6103

2 жыл бұрын

@@Ka_Gg yea!

What’s the point of buying a lake house when you will mostly use it while in-laws are there???

Never do business with friends or relatives

No didn't listen... No No... Never. Just no.

What could go wrong?

Talk about drama lol

No no no no . And again NOPE

Sell the car!

I do not want a lake house.

I don't want lake house . No second house at all .

Pass on this one buy a lake house for half off but can only use it in the winter until grandparents die idk sounds weird

He's out of debt and wants to go back in. He learned nothing.

The caller low key check DR "well of course I want a lake house...who DOESNT want a lake house" ololol

I would do it becasue he is 37 with 140k income and zero mgt. if he is willing to go beans and rice to pay off his share of the 200k. That said this is probably why I do not have Dave s net worth!

Obviously do it! The dude is literally debt free, if anything happens he can sell it, everything is going up, Dave literally saying in other videos not waiting with purchasing a house because it's not going down any time soon...

I'm not even thinking of the money involved but there's no way I would buy a house with another party. What happens when the "snowbirds" decide that they want to spend a few weeks during the winter in Michigan instead of going to their home in Florida and this just happens to seriously disrupt some plan that the young couple has for those same weeks. Who wins in this head-butting contest? I would NOT do this. Just stop and think how messy divorces become and how vicious fights become over questions about the couple's home. And this is between two people who once upon a time loved each other. I think sharing ownership of a property with your in-laws is a good way to have some really strange Thanksgiving dinners. I hope he didn't do this. This was a year ago so he either decided not to do it or it's a done deal and this is another of those stories that I would love to learn how it turned out.

If they truly get along all hunky dory then I might do it. It’s in your name, maybe Airbnb it a little off season (yes people rent lake houses in winter sometimes) and he’s getting child care in the summer on top of it lol

That is way way too sketchy

NO, NO don't do it, don't get yourself financially tangled with them and ruin a good relationship for generations to come. Buy your own house in your own name with your own money.