Dave’s Nothing Down Real Estate Horror Story
The Ramsey Show Highlights
Ramsey Network
4.5 • 838 Ratings
🗓️ 17 May 2022
⏱️ 9 minutes
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| 0:00.0 | This is the Ramsey Call of the Day, part of the Ramsey Network. |
| 0:10.7 | Joining me today is Ramsey personality, Ken Coleman. |
| 0:15.6 | Chris is in Springfield, Missouri. |
| 0:17.7 | Hey, Chris, welcome to the Ramsey show. |
| 0:20.4 | Hey, Dave, this is an honor to be on the show here. |
| 0:23.0 | Well, thank you. How can we help? |
| 0:26.2 | I got, I want to know your opinion on, okay, I bought my first house last summer. |
| 0:33.1 | Me and a couple friends renovated it. According to my realtor, we increased the value by about 50 grand. |
| 0:41.8 | And I have some aspirations to become a small-time landlord. |
| 0:47.1 | I was wondering if it's a totally dumb idea to get a he lock on my current house |
| 0:53.2 | for a down payment for a second house and turn the first |
| 0:57.5 | one into an Airbnb or a rental. Yeah. Chris, how old are you? 26. Good for you. Cool. And what do you |
| 1:06.8 | do for living? I'm a plumber. Good. Okay. So when you say we did this renovation, do we own the house or you own the house and your friends helped you with renovation? |
| 1:17.1 | I own the house and they help. |
| 1:19.2 | Okay. |
| 1:19.7 | So it's completely in your name? |
| 1:22.1 | Yes. |
| 1:22.7 | And the house is worth how much? |
| 1:25.2 | Roughly 160. |
| 1:27.0 | Mm-hmm. |
| 1:28.0 | After the fact. Mm-hmm. After the fact. |
| 1:29.0 | Mm-hmm. |
... |
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