Guy Dave, Dave Ramsey, Wanna discussed on The Dave Ramsey Show
That is an additional wealth-building step. Leveraging into real estate, borrowing money to get into rental or flips is a really good way to end up broke. Yup, don't do it man. I'm not doing it I'm not on baby. Step seven yet. Once I pay off my home. Mortgage on you. Really do wonders some real estate, don't you? I really do Dave. I really do like I really. Connected to you because I mean that's I. Know That's where a lot of your wealth is, and so I'm learning from you and I'm doing it the right way. Show listen the thing is. It's a little slower than maybe what you had in mind when you call a lot of people. WanNa. Run out and go into debt. But the guys that buy real estate, the GALS WHO by real estate with a bunch of debt ten years later. I, don't know any of them. That aren't broke. Because one cycle comes through, and it'll take you out. Yeah, and there's always a cycle within a ten year period of time of some kind or another. I mean. What if a bunch of your tenants didn't pay for the last two months? Because the cove. And you had mortgages. You would realize the fallacy in the idea. Borrowing have rental property. Then you know there's two things right now with that sounds like he's a young Guy Dave and there's two things has really gone on in this generation single stocks you know and then flipping. Those are the two big things that I'm constantly being axed by by this these twenty thirty roles like Hey, I'm a getting a single south from day trading, and then I'm GonNa, go take out this loan and flip and I haven't found one person. Who has who has really bill true wealth from that? Yeah, I, mean if you found somebody to start doing that when they're thirty and fifty. They're still doing it and they're not broke. Found a Unicorn very myself don't exist out there. and. It's it's really not this generation I've seen it for thirty years. It's everybody WHO's trying to get ahead. Yes, we're trying to figure out what's the shortcut. What's the shortest path to build wealth in real estate's one stocks is another. Good places to invest and bill wealth they're not good places to, borrow money. To get into this because it will burn your, but so it's simple, so anthony oneal co host this hour here on the Dave Ramsey show that puts this hour in the books. Our thanks to Zach Bennett filling in for James Childs this week of course Kelly Daniel, our associate.