I own rental properties and have a management company. Dave is right, it’s not passive. There’s a massive amount of work, problems and headaches that go into it.

@thejakelegion

Жыл бұрын

I think I'm just a fabulous tenant. 😂

@carlswindelliv2701

Жыл бұрын

Why did Grant Cardone say real estate is passive????????????

@Anonyme67

Жыл бұрын

My experience is to invest in good neighborhoods. If you fixed everything roof furnaces plumbing water heater then is more likely going to be passive income. I sold my properties from the hood. That was not passive income. Violence etc… but in good neighborhoods the gain is a little bit lower but almost no headache.

@NoRegertsHere

Жыл бұрын

Agree. Selling out of property and into index funds

@dipsuny

Жыл бұрын

Poor boomer..must be hard being a slum lord 😢

Real estate investors losing money is music to my ears. They are a major reason why the real estate market is the way that it is now.

@brianmott9010

4 ай бұрын

Okay boomer

@AirionKosak

2 ай бұрын

Real estate investors provide services just like many other essential need providers. Like every profession there are good professionals and bad professionals

@RUBY-zi2ug

Ай бұрын

@@AirionKosakthank you!

Ай бұрын

The market is the way it is because the population grows but the space is limited

@dr_flunks

25 күн бұрын

silly and mean. it's not their fault that local zoning laws suck, building codes vary county by county, lending rates are artificially controlled by the fed reserve, carpenters don't make any money, building tech is still basically bronze age, and land subsidies have f'ed up land values... aren't you trying to build a nest egg like them??? you're likea racist against the facts. you sound young ang naive, go be elon musk and solve these problems and you'll be rich!!!

being a homeowner is enough to tell you that owning real estate is not passive. there are constant issues and hurdles like insurance, wear/tear, HOA nonsense, warranty issues, etc. now imagine it happening miles away. i have a paid off rental and there are times where i want to list it and get it over with

@aolvaar8792

Жыл бұрын

In 2011, investors bought in my subdivision $250K homes for $50K, they sold in 2021 for $500K. no rentals just sat on it, $650/yr property tax. 10X in 10 years

@jt4774

Жыл бұрын

Where is your rental property located ?

@iomis2001

Жыл бұрын

Never ever get an hoa.

@Joenzinator

Жыл бұрын

@@aolvaar8792 An empty home still requires upkeep and insurance. You'd be better off just buying land.

@jimmymcgill6778

Жыл бұрын

Things do not need to be repaired as often as people say that they do.

Love how Dave provides a different perspective than others.

@mikyy19

Жыл бұрын

Otherwise known as the “correct” perspective….

@braceyourselvesfortruth2492

Жыл бұрын

He should try the right perspective some time.

@Nolaman70

Жыл бұрын

Beans and Rice!!!!!

@JustinCase780

Жыл бұрын

And, when he hits the kill button to go right into his "back in the day" stories. 🤣

@amireallythatgrumpy6508

Жыл бұрын

@@braceyourselvesfortruth2492 There's the right way, and then there's the American way.

Agree, rentals are not passive income, however they can provide a solid return. We have a lake cottage (purchased with cash) that we rent out as a short term rental (Vrbo/Airbnb), it easily provides a 20% return (after expenses) but does require a lot of hands on, anything but passive. But even with the additional effort required in managing the property I still prefer a short term rental over a long term rental. We have 30-40 different guests (I.e renters) each year, but I find there is less damage experienced from these short term rentals than what occurs with a long term rental that has a new renter every year or two.

I know a franchise owner that told me how he once owned the whole building and his tenants would always come to him over some utility issue. It was like having a second job on top of already running his franchise. Other nightmare stories are when bad tenants are destructive and expect you, the owner, to fix their problem they caused.

As an owner of a residential rental property using a property management company, I'm with Dave on this, it's not that passive. I get email from the management company all the time about approving works to the unit that needs to be done.

@TheDougSpot

Жыл бұрын

That’s extremely passive. Answering an email isn’t work, not in the slightest.

@snc9329

Жыл бұрын

@@TheDougSpot says the guy who owns no real estate

@TheDougSpot

Жыл бұрын

@@snc9329 What makes you so sure about that? Just curious🤔

@anthonyfaucy2761

Жыл бұрын

@@snc9329 What makes it active and not passive other than answering emails? Pay me to do it and I'll do it for you. I'll charge premium though

@hvaball150

Жыл бұрын

I'm sure the engineer thinks it's passive to him. did you do engineering work anytime? how about a problem every day?

If you’re an engineer, spend your time wisely and put all your time and effort into becoming a better engineer. Then take that extra money you make from being a rockstar engineer and put it into an S&P 500 index fund(or mutual fund). Do what you know best and invest the money into something truly passive. If you’re making really good money with your calling in life, it makes zero sense for you to be fielding calls from AC repairmen and trying to collect checks from tenants. That’s a very poor use of your valuable time.

@chada75

Жыл бұрын

So much this.

@philsowers

Жыл бұрын

I don't understand NOT getting a job for a year because he's moving. A year is a long time and the company he works for might pay for relocation and pay for college and training as well.

@BrandonKTG

Жыл бұрын

Exactly and that one year of investing compounds overtime. You want to start that asap.

@therealpeopleadvisor

Жыл бұрын

Your first two sentences.....so simple, but so spot on! Investing can be simple.

@gregory22193

Жыл бұрын

💯💯

Great advice! I own 2 rental properties in Queens NYC. NYC is unique. Paying all Cash for it is impossible. Taking on some debt is reasonable to a degree. Property values ALWAYS go up, up, up!! Avg home value in Queens NY is 7 percent over a 10 year period. Alot of people buy rental properties knowing that they will make money even if the tenants don't pay their rent. The rent is a bonus. Key is to make sure YOU have enough income to cover the expenses in case a tenant doesn't pay rent! We bought one 2 family home for 780k with only 150k down. It was a struggle but luckily the tenants always paid and we had enough income to cover expenses. What happened was the rents steadily increased over the years to the point that we were able to pay off the house in 12 years. Plus, the value went up to 1.4 million!

Appreciate the advice Dave! I’m one of those people who wants to do this but needs to be realistic with the risk.

@2_572

Жыл бұрын

You gotta take risks..out of your comfort zone lol is that B.S to.some extent?

It’s definitely not passive income. Not only do you have to concern yourself with the tenants but also keep a watchful eye on predatory property management companies. They bill you for repairs that should be charged to the tenant, over bill you for services they supposedly performed, or double bill you for services that they contracted out because they couldn’t fix the issue. Scammers!

@abarbar06

Жыл бұрын

Why should repairs for your property be charged to the tenant?

@chinad3352

Жыл бұрын

@@abarbar06 in cases of blatant Negligence. Service calls and plumbing issues because children are putting toys down the toilet, etc

@hvaball150

Жыл бұрын

...so the engineer will deal with 200 suppliers to get his products on the monthly.

@cjzanders5430

Жыл бұрын

That just sounds like someone who doesn’t know how to hire the right management company.

Things only break when I’m out of town. That’s a landlords vacation. I used to sleep really well when it rained, now I think drainpipes and shingles

@brownsugga2584

Жыл бұрын

lol

This video won my subscription! Real estate can be stressful work! 🏠🤯

“what is ur masters in” “mechanical engineering” “what career are you pursuing after this” “mechanical engineering” 😂😂😂😂😂

@wiselichosen6366

Жыл бұрын

I thought it was just me😂😂😂😂

@christopherwarner6330

29 күн бұрын

😂😂😂😂and she’s the one giving advice 😂😂😂😂😂

Finally someone credible says it, relying on other people money to make you money is not passive not to mention the maintenance you have to have in order to keep your rental legally open!!!

Dave is right. I don’t want my investments calling me at 2am.

Try a REIT! No one will be calling you telling you the roof is leaking or the toilet won't flush. Look at 10 year returns with a 5 star rating from Morning Star. Unlike real estate you own and manage yourself, with a REIT you can exit with a phone call.

@AccentBwoy

Жыл бұрын

Wats the best reit to own?

@michaelk969

Жыл бұрын

This is all true but the returns on well chosen directly owned real estate will exceed what you get from REITs because of all the middlemen who take a cut of the profits of the assets of the REIT. You don't get all of that convenience and liquidity for free - it costs you money to get that.

@dougholdem2898

Жыл бұрын

@@michaelk969 If you are picking "well chosen directly owned real estate", that you are taking on the job of managing yourself, you are limited to the geographic area where you live. Returns on real estate vary greatly by what area of the country you are investing. With a REIT, the investment managers can invest in any state where the managers see potential growth without regard to where the investor lives. Glad you are happy with you investment/job. At this stage of my life I look for investments without the "job" attached.

@muradshawar

3 ай бұрын

@@dougholdem2898 LONG O and PLD and AMT the top 3 REITS in the whole USA stock Market all pay good dividends and I love the return's they have

It’s a lot of aggravation for maybe a 7% net cash flow. You can do almost as well and diversify with a few good REITs.

My wife and I own a few properties and I can attest - it’s not a get rich quick and does require a lot of attention. Some renters are self sufficient and the unit has no major issues. Others have problems monthly. You make your money on the equity earned and if you can make a little extra each month while you own it, that’s the cherry on top. We bought our first vacation rental this year and the jury is still out on if it’s a good investment from a monthly standpoint. Some of these vacation rentals are highly seasonal but earn good equity and can be profitable - just takes a lot of time, not to mention property management companies take 20% cut.

Everybody, including people with great careers, are falling for these online gurus...Be an awesome engineer and accumulate wealth slow and you will be a bigger and more wealthy millionaire in the long run.

In Canada real estate is taxed as passive income when held in a corporation. I have invested in real estate and from a working point of view you are so right...it isn't passive. If you want passive real estate income buy a REIT.

Yup. AC leaked into the furnace after going out ruining the furnace as well. When you're living there, you notice and care. Renters don't. Ate up the profits for the year. Took hours and hours of calls on top of the money and that's with a property management company. Just count on spending a couple of hours a week per property but not spread out nicely, clumping together in weeks that you already had booked.

@Genesis_JG96

Жыл бұрын

A couple of hours EACH week, PER property? Lol, what kind of train wrecks slums do you own? Not me...more like 1-2 hours per month, if I take care of everything myself.

@bellmattwebb

Жыл бұрын

@@Genesis_JG96 congratulations on having it/making it easy. Also, I probably overestimated for dramatic effect now that I think about it. But definitely more than an hour a month for sure.

The ad that came on right after this video was exactly what Dave was saying not to do. Some get rich quick sleazeball

@vmtl4659

Жыл бұрын

🤣🤣🤣🤣

If he truly wants passive income from real estate then he should be investing in REIT’s.

@jcrowley1985

Жыл бұрын

Shame most won't even talk to you if you don't have millions in liquid cash

@btw-3006

Ай бұрын

@@jcrowley1985 There are publicly traded REITs so you don't need millions in liquid cash to invest in them

I graduated with a mechanical engineering degree. You really have to choose which job you want to do. Real Estate and hospitality or Engineering. I was a nuke for eight years and used the money to change gears into Real Estate and Hospitality with my own company. Trust me I was this guy in college. I wanted to buy the whole town and rent but without getting the engineering experience and income and homeowner experience I would have never been successful. Just be patient and give your engineering income a job, building yourself and your business.

@gudrh4024

Жыл бұрын

Ayo, a fellow machinist?

@erikrohr4396

Жыл бұрын

But do you have to pay all cash?

@jrhunt414

Жыл бұрын

@@gudrh4024 not a machinist. Was a civilian nuke. Did everything from test engineering to special projects team. S6G plant.

@jrhunt414

Жыл бұрын

@@erikrohr4396 For deals cash is king. But my business doesn’t involve owning the properties yet. Some day I’ll get there. Plan to never touch debt again. My first plan is glamming rentals in Maine on my current property. Then small camps. Low build costs that I can cash flow.

@btmtrex5878

Жыл бұрын

@@jrhunt414 thinking of taking a similar path as you. About to finish up my degree in mechanical engineering and have a few jobs lined up that pay a decent buck. A salary I would be grateful for. I know you touched on it in your initial comment, but when you made the transition, did you spend a majority of your engineering work life studying and preparing your business plan or was it a sudden switch. I’m just not sure if I’m getting to ahead of myself that may lead me to destructive decisions. Thanks

I somewhat agree with Ramsey. I have never owned physical real estate I’m only in difference indications but I will say that there is nothing wrong with reasonably leveraging rentals that cash flow on day one and building up a portfolio as an alternative to just an index fund if that’s what he wants. That will yield more money and create financial independence earlier. I appreciate Ramsey for giving him a taste of reality and how it’s not just simply mailbox money.

@jarvinator94

Жыл бұрын

*different syndications

As a renter I can tell it's not. We always have issues In our home. The landlord sends her son to work in the property. He came and finally fixed our out let's. Only think he messed up as the light switch right the outlet he fixed stated making electric noises and now we can't us it. We have to us a lamp. The coin washer machine is always braking down and the other tenet's had a leak in her roof. I always something wrong. In order to have tents she has to offer utilities included. People in California can't afford to rent unless you included the utilities. She can't add a way to know who's using what amount of utilities because of the way the building is built so she has to add utilities included.

Passive=mutual/index funds. R/E=Active when the water heater goes out, you the owner are on the hook. Works like this: Example; $1000 rent, tenant pays the prop mgmt. 10% goes to commissions to manage the unit, another 60-100 for taxes, mortgage payment-300 (If not fully paid off) you might net about $500 that's if there are no maintenance issues. Bottom line is if your not at least earning 12-15% ROI then owning rentals may not be the way to go unless the rentals are paid off having no mortgage. An index fund won't be calling you at 10 PM due to a leaky faucet.

@abualzuaree

Жыл бұрын

Where do I invest in index funds

@tylergood1223

Жыл бұрын

@@abualzuaree Fidelity is a good choice.

@btw-3006

11 ай бұрын

@@abualzuareeany brokerage firm like Fidelity, Vanguard, Charles Schwab. I personally use Charles Schwab for my investment accounts (taxable, Roth IRA and Rollover IRA) and really like them. Zero commissions on trades for stock and ETFs. Their checking account is really good too.

@GravityBar231

6 ай бұрын

@@abualzuaree Vanguard. VTSAX fund.

Rental is really either the most active passive income, or most passive active income. It is kinda annoying when you have decent amount of portfolio, doesn’t take much to guarantee you deal with tenant at least once a month on some kind incident

Dave gives great advice. I wish he soften his approach. It might make the caller feel embarrassed they given brought up the topic.

Read that Dave over leveraged on those 30 day loans back in the 80’s. Did he buy Carlton Sheets program?

I used to fix cars now I fix household appliances and about 60% of my business is rental cabins it can be passive income if you pay a property management company 40% of ur income

I prefer to buy real estate stocks with high dividends then buying actually real estate

@theIdlecrane

Жыл бұрын

No one asked you though 🤣

@Nolaman70

Жыл бұрын

@@theIdlecrane hahaha 😆 😂 🤣 😅 😄

@chada75

Жыл бұрын

REITs?

@OTOWN2STOCKTOWN

Жыл бұрын

Good point

@MuzixMaker

Жыл бұрын

Yep.

It depends on what you consider to be passive income. I own rentals and manage them myself and consider it passive. On average I probably work around an hour a week on them. There’s months that will go by without me needing to do anything at all but then a tenant might move out and I’ll work two or three weeks on it screening new tenants and getting it ready for them. I would never pay a management company because the work load doesn’t change much plus you have to manage the management company so it honestly ends up being the same amount of time except you get less money.

@carlswindelliv2701

Жыл бұрын

Well then why does Dave Ramsey say it's not passive????????

@DarrellBubb

Жыл бұрын

@@carlswindelliv2701 Did you not watch the video? Dave gave his reasons why he doesn't consider it passive.

@johnrobertson724

Жыл бұрын

@@carlswindelliv2701 I think he defines passive as not needing to spend any time at all on it even if it’s just an hour a week.

@AVG336

Жыл бұрын

Exactly

@AVG336

Жыл бұрын

Dave owns 1000s of pieces of real estate. It's passive enough for him not to sell them 🤷‍♂️

i am a landlord , the houses were in really bad shape at the time so i fixed them up slowly ( after spending hundreds of thousands of dollars ) - that was soooo stressful ..yikes- anyways, because i was getting calls at least once or twice a month for something such as water leaks, no heat, no hot water, windows dont open, cabinets not opening , light switch not working, appliance dont work , etc ...now i get 1 call a year at most. the money comes in automatically . with the market in rental being in demand right now, my tenants dont want to leave ..i guess for right now its somewhat passive income.

Love Ya , Uncle Dave

Here’s the problem with real estate. You can sit down at the kitchen table and run the numbers and everything works out great on paper. But then you have to depend on humans other than yourself to be part of the equation and we all know how flawed humans can be.

@hvaball150

Жыл бұрын

here's the problem with engineering... umm 200x what you said!

@cjzanders5430

Жыл бұрын

Ohhh, that’s kind of like having a business… Except just like every business, you don’t hire and work with everyone indiscriminately. That’s not a real estate problem,that’s a system driven business problem.

@kyledeacon5620

Жыл бұрын

it's the same way with owning a business....

Could always buy a multiplex so you live for free (or at least close to), still own real estate but also earn income from rent

I don’t know enough about real estate to ever consider investing in it. But everything I hear about it just makes it sound like such a headache to manage. My parents tried the landlord gig and it was never worth the trouble for them.

Dave is talking about Robert G Allen. He's a real piece of work.

It's per se passive from a taxable income standpoint unless you are a real estate professional.

Real estate and passive do not belong in the same sentence. SO TRUE! It's is a full time headache.

@Brandon-tz5pn

18 күн бұрын

Like what?

Dave Ramsey needs to talk about Ecosia they are a search engine that plants trees

@amireallythatgrumpy6508

Жыл бұрын

Pretty sure nobody cares

1:47 Lol shots fired at Ben Mallah

So true

All I do is receive money each month. If tenants leave all I gotta do is email the property manger a few times. I don’t understand why people are saying its a headache. I worked very hard laborious jobs and now all I do is send emails and receive money each month. Doing absolutely nothing. Easy work.

I own a lot of rental property. i don't know if passive income is the right term . Its financial freedom I'm not exchanging 50 hours a week to earn my money. It come every month with out me being there everyday. Im in the business 25 years . i'm constantly pulling out money of paid for properties t by more in cash.

@penguingobrrbrr353

Жыл бұрын

Is rental income and managing it is a business ?

If he's looking for more of a passive income setup, Airbnb is the right one for him, which can be systemized needing less management from owners. However, this is how having a business works though. You gotta be all in or if not, better not start a business at all.

I needed to hear this. I think a lot of us think: I want to be rich young so I can do and buy all these awesome things while I’m young. Probably because of films with the young rich man. In real life I have to remember that the people who can become that either have a dad who gave it to them or a person started very young or you get lucky. I’m 30 so the very young thing is out the window. I haven’t gotten lucky and my dad’s not rich. So I gotta let go of that vision and be realistic.

Dave is right. The only low hassle real estate is the payed off home, that’s imputed income

@blaakcoffee

Жыл бұрын

👏🏿👏🏿👏🏿👏🏿👏🏿

4:40 - obviously you weren’t as great with numbers as you claim to be back then, Dave. Truth is, you got greedy and you suffered the consequences. If you can get an underpriced well taken care property and rent it… why not? Not saying go and by a 30 unit rental unit, but a single home house that requires no work is a good investment, don’t @ me. Waiting to buy an investment property until you can pay cash for it is a great way to miss a good opportunity. Just be smart about it.

@megalodon1726

Жыл бұрын

What single family home requires no work?

@jnuno1800

Жыл бұрын

@@megalodon1726 some houses have been maintained well, idk do your homework

@BestShootermanUbz

Жыл бұрын

@@@@@@

@Argedis

Жыл бұрын

@@jnuno1800 You clearly are not a homeowner. All homes require work something as simple as a storm damaging your fence or getting a leaky faucet. You still have to deal with the headache of renewing insurance every year, utility companies, HOA fees, paying property taxes and disputing increased costs with the city even if the home is paid off.

The appreciation is passive

@aaronb4936

Жыл бұрын

If you aren’t a good property owner the depreciation is passive also

There's no way that real estate could be considered passive. My family lived in the same location for 10 years, our landlord was a great guy but ever so often fuses would blow or water would go out and he was the only one authorized to come look at that stuff, whenever he wouldn't it'd be apparent, and it's not like these were issues that we'd plan to happen.

lets be real, if you follow dave to a T you will be okay in life, but it takes discipline. if you want to make money and change your life that's up to you, these guys ain't going to approve the risks you want to take. How many people got rich by not taking risks?

Compared to mutual funds, Dave keeps saying he loves real estate but never once he gave a reason why.

I agree, it is NOT passive, maybe it is sometimes or most of the time if lucky...but I have 1 rental property for 2 years now, and let me tell you the problems come AT THE WORST TIMES. It also needs to be addressed RIGHT AWAY NO QUESTIONS ASKED. That being said, I enjoy fixing stuff so I think it is fun.

Uncle Dave

You talking about Rich dad Poor Dad Book lol ?

The work you do in real estate is the reason that you can get a better return than passive investing. Returns on investments come from three sources: time, risk, and work. Cash investments and bonds give you time only, mutual funds give you time and risk, real estate gives you time and risk and work.

Most people don’t make enough to pay cash for real estate. Or it would take them forever to save up and buy a property.

@amireallythatgrumpy6508

Жыл бұрын

And most people should not buy any real estate that they do not live in.

@makkliff

Жыл бұрын

@@amireallythatgrumpy6508 banks buy real estate with no money

@choicemeatrandy6572

Жыл бұрын

Then that means most people shouldn't own real estate.

@amireallythatgrumpy6508

Жыл бұрын

@@choicemeatrandy6572 I agree with that.

Don't be scared of real estate investing but do treat it like any other business and not like investing in truly passive investments. Is there more work and systems to put in place? Yes, but the returns should be higher so all depends on what type of return you're willing to have.

Property managers do a great amount of work to make It a bit more passive. But if you do your calculations right, there are reserves for problems that arise and money fixes most problems. I love investing in RE, wouldn't trade it for anything else.

Dave Ramsey went to the Tom Vu seminar.

Dave forgot about lease-options or seller financing (rent to own) in real estate, where the responsibility of property-upkeep is given to the Tennant.

@justinofboulder

Жыл бұрын

What happens when the buyer doesn't uphold their portion of the agreement?

@wololo4761

Жыл бұрын

Oh christ you really have listened to a lot of samuel leeds...

@InvestAndGrow2020

3 ай бұрын

@@justinofboulderyou foreclose on them, take back the property with everything they updated or destroyed.

Yeah, it’s technically a hybrid between an investment and a business.

Ok let me explain to you one time- Royalties, dividends and rental income are all called passive incomes, literally in accounting. Its not “Passive” because you dont have to work for it or you become inactive.

@hvaball150

Жыл бұрын

let me explain to you the engineer thinks a few messages or problems here or there is passive income.... and he's correct.

@theaussieindian4061

Жыл бұрын

@@snatchinitback4635 Agreed, books won’t make you great at something. But these “passive incomes” literally mean less taxes in Australia so you still need to understand the accounting side of things. And I am a Chartered Accountant who does own a rental property so I definitely understand the not so “passive” side of owning a rental property. But I’d still call an income from rent, dividend and royalties- passive incomes. ✌🏻

This is all dependent on the type of property you invest in and tenant selection. Choosing the right property minimises a lot of these issues and has great returns. Choose the wrong property and it’s a nightmare.

Wooo-hooo , I’m an Accountant and yes I’m a multi-millionaire. Blessed because I came from a very poor refugee family. My first $1M networth was age at age 27 and yes it’s due to realestates.

@user-es5jq6yy9l

Жыл бұрын

Can you explain the strategy? I currently rent because I cannot afford in my area. I am limited to moving because of custody. Is it a good idea to buy a rental property before buying my first primary residence?

@penguingobrrbrr353

Жыл бұрын

Is rental income is a business and managing it ?

i wonder how Dave feels about Robert Kyosaki and how he buys real estate 🤔

What are good alternatives for passive income?

@hvaball150

Жыл бұрын

stocks, bonds, banking, sports gambling.

the ad that came up after this video was a get rich quick realestate ad oh the irony been seeing so many of these ads lately

@anthonyfaucy2761

Жыл бұрын

Their exploiting the cost of living crisis. The scumbags

The woman sitting next to Dave is absolutely gorgeous 😍😍😍

@leadrecruiter

Жыл бұрын

Yes she is beautiful

@bluecrossfire1984

Жыл бұрын

yes she is.

@JustinCase780

Жыл бұрын

And, a beautiful voice! Goddess.

@jimmymcgill6778

Жыл бұрын

She's married.

@Nolaman70

Жыл бұрын

@@jimmymcgill6778 for now.....

A Masters Degree is a complete waste of time. Not worth the money. Rental properties are full of headaches.

@alinatamashevich3354

Жыл бұрын

I have a MBA. The letters sure look nice behind my name

@sarahconner9433

Жыл бұрын

Depends on the BA and the MA

@webfreakz

Жыл бұрын

@@alinatamashevich3354 but is it worth it?

@robloxvids2233

Жыл бұрын

An engineering license is more important than a Masters.

@alinatamashevich3354

Жыл бұрын

@@webfreakz Yes

It’s weird but my spidey sense tingles every time I hear someone say “the fact that”.

I think people have the wrong idea about passive income in general. The only passive income is dividends.

Having different streams of income is the best thing to do especially with the current economic situations

Being a landlord sounds tough!

@2_572

Жыл бұрын

A lord of having a firm hand.

Finally someone says it

David is such on paint with this is not passive I agree 100 percent and is not easy when the ctap hits the fan and stuff breaks contractors are expesive and equipment is expensive. Ramsey knows from.experience what he is talking about.

@luisdeleon206

Жыл бұрын

Correction such on paint

@luisdeleon206

Жыл бұрын

Such on point

Real estate is also about to CRASH!

@anthonygiordano3991

Жыл бұрын

I keep hearing this… but it never happens. I don’t think we will ever see 2008 prices again.

@AccentBwoy

Жыл бұрын

@@anthonygiordano3991 wat was the prices for home in 08?

@anthonygiordano3991

Жыл бұрын

@@AccentBwoy - Depends on where you are. But California had homes around $250K in 2008/2009 that are now worth almost $800K. I don’t think they will dip down to those levels again.

Renting is a lot of work. The quiet renter who just pays his rent is a rarity.

@amireallythatgrumpy6508

Жыл бұрын

Does that even exist in America?

@abarbar06

Жыл бұрын

I've been renting for years and maybe interacted with my landlords/property managers once or twice a year on average. It's the same for everyone I know... I know it's just anecdotal, but I highly doubt it's "rare"

OPM? Leverage? Graham Stephan has entered the chat...

What’s everyone’s thoughts on investing in syndication funds in real estate so you don’t have to manage anything??

Even if you have good renters for a decade, you have to put any 'profit' you make into an account to pay for repairs, taxes, upgrades, and other piddly stuff. The only time you profit from being a landlord is if the property is paid off, or you sell it.

@AccentBwoy

Жыл бұрын

U right

Lol good career and financial stability and living in Florida. My friend is a mechanical engineer in St. Pete and it pays 76k a year. Luckily he bought a house before it exploded here now the same house is 500k he bought for 230k in 2018. Florida is very expensive now and the career prospects and wages are limited compared to other states.

@hvaball150

Жыл бұрын

by coincidence I'm an engineer who lives in St Pete... but did you just say "he" (an individual) bought a single family home AND St Pete is not affordable... in the same comment? i think you just defined affordable!

@Bradimoose

Жыл бұрын

@@hvaball150 it was affordable I mean. Just a few years ago

Buy in good, more expensive neighborhoods. Single family homes. Be very picky about renters Minimum requirements like credit score and criminal background So far haven’t had issues.

Real Estate is passive income. You don’t manage the property yourself. It’s not different then the brokerage running your mutual funds, you need to stay on top of them, know what they are putting your money into, fire bad ones, dump bad mutual funds. I don’t think Dave understands what passive income actually is

@amireallythatgrumpy6508

Жыл бұрын

Dave Ramsey understands that there is No. Such. Thing. As. Passive. Income.

Dave seems to be implying with his examples that real estate is not profitable while saying it's not passive. The scenarios provided don't require a whole lot of work.

So trueee straight plain realities about real estate investment I own two properties one is paid off, the other still mortgage, but the one paid off,it’s been rented,and keep me from getting some sleep manyyyy nights !!! 😅 DEFINITELY NOT A PASSIVE INVESTMENT 😜

do reits count?

Absolutely correct If you want a passive investment invest in the Dividend Aristocrats

Like "flipping" homes. You are just giving yourself a job.

I own an apartment, which is the only RE that I am interested in having!

@webfreakz

Жыл бұрын

I have an apartment but looking to upgrade so I can BBQ 😄

@brownsugga2584

Жыл бұрын

@@webfreakz lol

If you’re in the construction trades and own rentals , you’re good lol labor is expensive part.

The caller HAD to call back let Dave know that he went ahead got master after Dave said hold off on it, now calling about buying income property…why are you calling for advice, when he didn’t listen previously! Are you calling just to say, I told you so!

Who is the new host? Never seen her before.

Once again I highly disagree…. Real estate is better than mutual funds.

We run vacation rentals. Five of them. It’s our passion but it is a lot of work. Rewards come with it.

Please tell the IRS that it isn't passive income, please!

Dave took out 90 day balloon loans. 🤦🏻‍♂️