My Parents Asked To Borrow $60,000 From Me To Buy a House

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 12 January 2021

⏱️ 6 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day 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, Chris Hogan, Christy Wright, Anthony ONeal, and Dr. John Delony. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's Tuesday, and this is the Ramsey Call of the Day, part of the Ramsey Network.
0:06.5	Joining me today is Ramsey Personality, Dr. John Deloney.
0:10.9	Aubin is with us in Chicago.
0:13.5	Hey, Aubin, how are you?
0:15.2	Good, good.
0:15.9	How are you guys doing?
0:16.7	Better than we deserve.
0:17.9	How can we help?
0:19.8	So, I'm 24. Two months ago, I had a net worth about $105,000. My parents wanted to buy a two
0:28.5	flat to rent out, and they came to me, they said, we need 60 grand from you. And I said,
0:34.7	We need what from you? 60 grand
0:37.5	for the help with the down payment on it.
0:41.4	So when you said you had a net worth of $105,000 bucks,
0:44.7	does that mean you had $100,000 in cash?
0:47.8	Yes.
0:48.4	Okay, all right.
0:49.8	And your parents want to borrow $60,000 of it?
0:53.0	Yeah, but I looked at them and I said, I don't want to give it to you.
0:58.1	What if I give you the 60 grand?
1:00.2	And then when we're done remodeling and everything, I live in the basement,
1:04.5	which I thought was a good idea because there's no mortgage to me.
1:07.2	I'm not paying rent or anything.
	...

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