I Have 4 Rentals and Still Live Paycheck to Paycheck!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 9 November 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Today's episode features Dave Ramsey & Ken Coleman. The Ramsey Show Highlights is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you seven days a week. The Ramsey Show Listener Survey: Click here to be Entered to Win a $500 Gift Card!!! 💸 Budget for free with EveryDollar: Click Here Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today. Anna or Anna is with us in Los Angeles. Hi, how are you?
0:10.7	Hello, how are you? I'm doing great. Good. How can we help? So I've been working for some time now, and I thought I did a okay job for building up my personal wealth.
0:26.6	But I also like to hear your opinions about how I'm doing this far.
0:34.6	Okay.
0:35.5	How are you doing?
0:36.3	Tell me about it.
0:43.3	Yeah. So I'm being in the real estate business for many years. Personally, I have four rental properties and the yearly income is about 50,000, given or less.
0:53.3	The total mortgage balance I have about is a million.
1:00.9	And one thing, I don't know what I was thinking, but I did take out a home equity line
1:07.1	the purpose of purchasing other properties. So, so far I've been paying it off the highest.
1:15.6	It was close to 600,000. But based on my calculation, that's back in 2019. And I should be able to
1:23.5	pay that off, completely off, by next year, middle of next year.
1:29.7	And then you'll still have a million dollars out on the rentals?
1:33.9	Correct, yes.
1:34.7	Okay.
1:35.1	And you make what a year?
1:38.4	That's the wild card.
1:40.1	So, I mean, real estate.
1:42.0	So that's, now what did you make last year?
1:44.1	It's hard to say. Last year is about 200. Okay. All right. That's a... So I'm in real estate. So that's, now what did you make last year?
1:44.2	Last year is about 200.
1:46.7	Okay.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Ramsey Network, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Ramsey Network and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.