I’m Trying To Prevent a Nightmare!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Business, Investing

4.5 • 838 Ratings

🗓️ 27 February 2024

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

💵 EveryDollar - The simplest way to budget for your life! Did you miss the latest Ramsey Show episode? Don’t worry—we’ve got you covered! Get all the highlights you missed plus some of the best moments from the show. Watch entertaining calls, Dave Rants, guest interviews, and more! 📞 Have a question for the show? Call 888-825-5225 Weekdays from 2-5pm ET or click here! 🏦 Take Your 3-Minute Money Assessment - Get a personalized money plan! Listen to more from Ramsey Network 🎙️ The Ramsey Show 🧠 The Dr. John Delony Show 🍸 Smart Money Happy Hour 💡 The Rachel Cruze Show 💰 George Kamel 💼 The Ken Coleman Show 📈 EntreLeadership 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 sarah's in salt lake city
0:07.9	hey sarah what's up hi how are you guys better than we deserve what's up how can we help um so
0:15.6	question first and then i have some more background information but my husband who's 28 and myself
0:21.5	who's 277 we bought a $476,000 two-bed two-bath condo in 2022 and we're now looking to start a family
0:32.2	so hopefully we'll be growing out of it sooner than we expected. My question is, how should we tackle the mortgage in our
0:40.4	particular situation? Should we be solely focused on paying off the mortgage or should we focus
0:45.4	on other wealth building? Do you have any other debt? Yes, we have no personal debt, but we have two mortgages, the condo, and then another mortgage for an investment property that we have renters in.
1:04.7	Okay.
1:05.7	And how much is the payment on the investment property?
1:10.6	About 1,600. And how much is the rent on the investment property? About $1,600.
1:13.1	And how much is the rent on the investment property?
1:16.5	$16.50.
1:17.7	You should sell the investment property.
1:19.6	You are losing money.
1:23.5	That's shocking.
1:25.1	Why is it shocking?
1:26.9	A $50 cash flow is not a cash flow on a rental property.
1:30.2	You should know that.
1:32.1	Well, yeah, I understand that, but it's more of a...
1:36.4	You're losing money.
1:38.9	Why would you have an investment that loses money?
1:44.8	Because in the future, it will hopefully make us money.
	...

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.