Over-Spending Has Caught Up With Me

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 25 November 2024

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

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Transcript

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0:00.0	Brought to you by the Every Dollar app. Start budgeting for free today.
0:06.7	I started out. I don't know how far back I should go. I buy and sell real estate,
0:12.4	not as an agent, but as an investor. Got pulled in many years ago with the OPM, other people's money, borrowing and taking out
0:24.9	helox and all sounded great, buying a lot of properties, and it has all caught up with me.
0:31.1	Oh, no. Yeah. What does that mean? Tell us what's happening currently.
0:36.5	Well, I'm currently sitting with all my monthly expenses sitting at about, well, total debts of about $1.1 million right now.
0:47.8	Ooh. Hello.
0:49.2	My goodness.
0:49.8	Where are my tombs?
0:51.5	Okay. Well, hopefully these are worth something.
0:55.9	Got a lot of my properties are bundled.
1:00.0	It's not like every single property is its own mortgage.
1:02.6	They're bundled.
1:03.1	So I've got $480,000 and one mortgage, $199 in another.
1:08.9	Got a he lock at $189,000.
1:11.4	Okay.
1:11.9	Another mortgage, $173.
1:14.4	They add up very, very, very quickly.
1:16.2	So if we, can I just ask you a, just a crazy question?
1:21.2	Yep.
1:21.5	If you were to sell, I don't know how many you have,
1:23.8	but if you were to sell them, would you clear the million with their equity?
	...

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