brought to you by the every dollar app start budgeting for free today johnny is with us in

irvine california hi johnny welcome to the ramsay show hi there thank you for taking my call how are you

better than we deserve what's up great well i'm calling to see what you guys would do if you were in

my shoes i'm 22 years old i I fully support myself. I take home about $5,000 per month. I have zero debt. I have $60,000 in savings, a $3,000 emergency fund. And I've been listening for the past year or so, and some of my friends and mentors are into long-term real estate investing.

So I've been saving toward that for the past couple of years.

Ideally, I'd like to start building some long-term wealth, and so I just wanted to see what you guys would do if you were in my shoes.

Wow.

You are beyond ahead of the game.

Well done.

Very well done.

Thank you.

Well, I probably have a different view on real estate investing

than your mentors. Sure. And I probably own more than they do, given that I own about 600 million worth.

Okay. But anyway, the, I do not believe in borrowing money, Johnny, and you've heard that listening to the show, and I don't for my real estate investing.

I pay cash for it.

And so the first real estate investing I did, and I've always loved real estate that I did after going broke and starting completely over

and with this new I don't borrow money thing as a part of the guidelines was I didn't do

real estate investing at first I just started piling money in mutual funds and when I got enough

in an index fund is what I use an S&P 500 index And when I got enough in an index fund is what I used, an S&P 500 index fund,

when I, it took me about five years to buy my first income producing property. I paid cash for it.

And then I took all of those rents, net of expenses, and any other money I could, and I threw it in an index fund until I had enough

to buy another property.

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