How to Get Rich in Real Estate the RIGHT Way

Back in the day, when I purchased my first home to live-in; that was Miami in the early 1990s, first mortgages with rates of 8 to 9% and 9% to 10% were typical. People will have to accept the possibility that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. Pretty sure I'm not alone in my chain of thoughts.

I believe investors should focus on under-the-radar stocks, especially given the present rollercoaster nature of the stock market. 35% of my $270,000 portfolio consists of collapsing stocks that were previously respected, and I don't know where to go from here.

I advise you to invest in stocks to balance out your real estate, Even the worst recessions offer wonderful buying opportunities in the markets if you're cautious. Volatility can also result in excellent short-term buy and sell opportunities. This is not financial advice, but buy now because cash is definitely not king right now!

I'm 54 and my wife and I are VERY worried about our future, gas and food prices rising daily. We have had our savings dwindle with the cost of living into the stratosphere, and we are finding it impossible to replace them. We can get by, but can't seem to get ahead. My condolences to anyone retiring in this crisis, 30 years nonstop just for a crooked system to take all you worked for.

I lost over $80k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Charlotte Miller.😊l

I could listen to Dave talk about real estate for hours!!! So much wisdom. Thanks for making all the mistakes so I don't have to, Dave. Lol

When you said "you thought that every house in foreclosure was a good deal" reminds me of what I always say when I teach newbie car dealers that just because your at a car auction they are not all good deals. lol. Great point Dave !!!!!

Love you Dave. You are right about your points with real estate. However, telling your audience to only buy real estate with cash knocks 99% of people from ever getting started with investment property. You know its a wonderful investment, but your advice keeps your audience away from it. You got burned by being over leveraged with short term debt. That doesnt mean the right answer is no leverage. Having fixed rate 30yr debt in the accumulation phase is completely safe when walking into equity, paying 20-25% down, really strong cash reserves, and maintaining great cashflow. Saving enough cash to buy the first property can take someone 10-20 years. How much appreciation and cashflow was lost? Its not an easy business at all but its good over time with tight management and finances. These people trying to flip for their first deal are playing a dangerous game. 26:22

Got 3 properties interest rates below 3% I’m not paying off those properties but if I buy any at these rates today I would pay it off quickly. The key is to have cash on hand to cover emergency situations. Keep 10-15k per property is a very safe way to manage the properties.

Asking a real estate agent if you should buy a home right now is like asking an alcholic if they think you should have a drink, lol. Homes in my neighborhood that cost around $450k in sales as 2019 are now going for $800 - $900k. Every seller in my neighborhood is currently making a $350k profit. Simply unreal. In all honesty, deflation is what we require. The other option is for many people to go bankrupt, which would also be bad for the economy . That is the only way to return to normal.

Your effort is not wasted my man I'm 25 and I appreciate all the videos you make they truly make a difference for people like me

Timing is everything. And that time would be, not now.

You know what happens to a rental that you own it just stacks money!! That right there was a massage to my ears💆🏽‍♂️

That’s such an underrated point in owning the rental property outright. You can be gracious in times of need because you don’t depend on that money to pay your bills.

Thank you so much Dave Ramsey. I got what I need to feel confident in real estate

Dave. Take care brother. You good man

your name came up at financial class interested to learn from you about: Real Estate, Grants, Retirements, and Investment but most of all pay off mortgage in short amount of time. Thank you

Thank you Mr. Dave Ramsey!

Jade,”wow… okay… mhmm… right… mhmm… oh no… yeah… mhmm… oh my gosh…. Wait…. Yeah…. Yeah… mhmm… I know that’s right Dave!”

I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.