Debt Down, Wealth Up - Episode 5
The David Greene Show
David Greene
5 • 653 Ratings
🗓️ 2 September 2024
⏱️ 31 minutes
🧾️ Download transcript
Summary
We’re diving into the critical questions that every investor needs to consider. Whether you're just starting out or a seasoned pro, today's discussion is for you. Here’s what we’re covering: Debt Dilemmas...Thinking about tapping into your home equity to pay off high-interest credit card debt? We’ll break down the pros and cons so you can make the smartest move for your financial future. Leveraging for Growth...Over-leveraging can be a major fear for investors. We’re tackling this head-on, showing you how to leverage debt to grow your portfolio without losing sleep at night. Maximizing Rental Profits...Should you convert that garage into an ADU or invest in a new property? David lays out strategies to ensure you’re getting the maximum return on your investments. If you’ve got a burning question, head over to davidgreene24.com/ask to submit it – you might just hear it answered in an upcoming episode!
Transcript
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| 0:00.0 | Welcome to Real Talk Real Estate, the show where we cover how to build wealth in real estate with no fluff, no BS, and no sales pitches. |
| 0:07.0 | I'm David Green, and I've been doing this for over 10 years. I've seen the ups, the downs, and everything in between. |
| 0:13.0 | This is the show where we pull back the curtain and show it to you too. |
| 0:16.0 | So if you want to build wealth through real estate or you just love learning about it, you found your home. |
| 0:32.2 | What's up, everybody? Welcome to Real Talk Real Estate. I am your host, David Green, |
| 0:36.5 | and this is a show where we pull back the curtain and share stories, details, and insight into the crazy world of real estate business and investing. Today's show we're going to be talking about if you should |
| 0:41.3 | and how to pay off your debt, how to leverage opportunities and structures and deals, how to |
| 0:45.8 | structure your rentals for maximum profits, and how to overall build wealth through real estate |
| 0:50.1 | using leverage. So if you're looking to build wealth, change your career, or just learn about |
| 0:53.6 | the craziness that goes on behind the scenes and the business, you've come to the right place. |
| 0:57.5 | All right, before we get to our first question, remember, I need you to help me put together future |
| 1:02.2 | shows. So head over to David Green24.com slash ask and submit your question so we can have you |
| 1:08.1 | on a future podcast. All right, let's get to our first question from |
| 1:11.2 | Chan Mark in Houston, Texas. Hi, David. So, yeah, between my spouse and I, and we have a kid, |
| 1:18.1 | just trying to figure out what's the smartest way to prioritize with paying our debt as far as |
| 1:25.2 | we're making anywhere between 25 to 30,000, uh, we, our bills are about 10 |
| 1:31.0 | to 12,000 a month and just trying to figure out what's the fastest way, you know, fastest fun, |
| 1:36.7 | slow is painful. So to try to figure out what the fastest way is to pay off 75 to $80,000 |
| 1:41.0 | of credit card debt and to either take out a home equity loan or just focus on |
| 1:48.4 | the avalanche way to pay the credit cards. I'm just, I don't know. I just been doing a lot of |
| 1:52.4 | research, YouTube, not knowing which way I should, how I should pay this off really fast. So |
| 1:58.5 | we'll love some help here. All right, Chan, great question. |
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