Debunking David Ramsey and The Middle Class Trap

Jake and Gino Real Estate Entrepreneurs

Jake & Gino

Apartmentinvesting, Jakeandgino, Commercialrealestateinvesting, Makingmoney, Multifamilyrealestateinvesting, Investingsmart, Investing, Buyingapartmentbuildings, Buyingrealestate, Realestateinvesting, Realestateinvestment, Business, Cashflow, Smartinvesting

5 • 831 Ratings

🗓️ 27 July 2022

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

Its not what they make but, what they keep, is really important. - Gino On this episode, Jake and Gino talk about the middle class trap and throw some light on investment advice by Dave Ramsey. They share their experiences and strategy on how they grew their units from zero to more than 1500 in less than 5 years. You cannot create wealth by just listening to Gurus. You need to figure it out by yourself. You need to take the responsibility for your financial growth. Options to create wealth are refinancing the property and/or repurposing the equity. Besides that you need to utilize the dual asset strategy. Key Insights: 00:00 Introduction 02:42 You can create wealth by not listening to Gurus but by figuring out by yourself 05:48 Using credit cards effectively 08:00 Dave Ramsey strategy as a starting point 12:12 Its your responsibility to work to get to the next level 14:45 Equity leads to more deals 19:17 Leading life of empowerment 20:30 Dual asset strategy 24:00 Best time to insure and invest is today In real estate, your network is your net worth, attend our Live Events and network with the fellow investors and professionals: https://jakeandgino.com/live-events/ About Jake & Gino Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company that controls over $225,000,000 in assets under management. They have created the Jake & Gino community to teach others their three-step framework: Buy Right, Finance Right and Manage Right®, and to become multifamily entrepreneurs. Subscribe to this channel: https://ytube.io/3McA Sign up for free training: https://jakeandgino.mykajabi.com/freetraining The resources you need to succeed at every level of apartment investing: https://jakeandgino.com/resources/ Apply for Mentorship: https://jakeandgino.com/apply/ #realestate #multifamilyrealestate #multifamilyinvesting #investing #apartmentinvesting Jake & Gino Facebook: https://www.facebook.com/jakeandgino/ Jake & Gino Twitter: https://twitter.com/JakeandGino Jake & Gino Linkedin: https://www.linkedin.com/company/jake-and-gino-llc/ Jake & Gino Instagram: https://www.instagram.com/jakeandgino/ More ways to engage with the Jake & Gino Investor Community: MM5: https://jakeandgino.com/mm5/ Rand Cares: https://jakeandgino.com/randcares/ The 100 Year Real Estate Investor: https://www.dualassetstrategy.com

Transcript

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0:00.0	Hello, everybody and welcome to the 100-year real estate investor.
0:09.5	We are your host, Jake and Gino, and this is the show dedicated to long-term personal
0:13.3	financial engineering.
0:15.4	Gino, how's it going today?
0:16.5	Jake, I am doing great, and I'm excited for the show because my journey to financial freedom and to
0:21.9	personally financially engineering my life has come with ups and downs. There's been struggles.
0:27.8	There's been epiphanies. And I'm really here to share this with the listeners today because
0:31.6	it's been a long journey and it's been a lot of learning lessons. You know, smart people learn
0:35.8	from their mistakes. I'm a smart person.
0:37.9	I want the listeners to be wise people.
0:39.7	I want them to learn from our mistakes.
0:41.6	Wise people learning from all those mistakes.
0:43.0	And that's why you listen to these podcasts.
0:44.8	And that's why I want to share this information today with the listeners out there.
0:47.4	Well, hey, that's the best thing we can do is not tell you what to do, but share what we've done and hopefully it shortens your learning curve. And that's why we have
0:54.6	a special episode today. Today, we're looking at what we call the middle class trap. And we're going to
1:00.7	analyze Dave Ramsey's advice on investing. So, Gino, what was the inspiration on this one?
1:06.7	Well, like I said, Jake, I was fed a bunch of lies early on, you know, 25, 30 years ago.
1:12.6	We've all read the- Sounds like a victim mentality, man. I don't know about that.
1:15.3	Well, and that's part of the mindset, right? For those who've got out there that read the Purple
1:18.8	Bible, Robert Giyosaki's, rich dad, poor dad, that's what I call it. Once I picked up that book, I realized all of the lies that were being fed. It worked for previous
1:28.6	generations. When you got a job, when you had to find benefits, you then went to the 401k,
	...

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