Rental Property Is Never Truly “Passive Income”!

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 19 April 2023

⏱️ 8 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, Dr. John Delony, George Kamel, & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. 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

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:11.0	Byron or Brian, I'm sorry, is with us.
0:13.8	Bryn is with us.
0:15.1	I'll get it right in a minute in Springfield.
0:16.8	Hey, Bryn, what's up?
0:18.0	Hi, I just wanted your advice on if you think that we should pay off.
0:22.6	We have a house that has a mortgage on it, but we have renters in it right now.
0:26.2	So I was wondering if you think we should pay it off or sell it.
0:29.5	Okay.
0:30.0	Do you have a personal residence?
0:33.2	So we live and work on a ranch and housing is provided here.
0:38.5	And so as long as we stay here, we have a house.
0:40.4	And then when this ranch sells or the owner passes away, the house that we live in is ours, free and clear.
0:47.6	The ranch house?
0:49.0	Wow.
0:49.5	Yes.
0:50.3	But it's a brand new home.
0:52.0	Nice deal.
0:53.0	Okay.
0:53.8	All right. And so the only debt you have in your whole life is this rental new home. Nice deal. Okay. All right.
0:54.3	And so the only debt you have in your whole life is this rental?
0:57.6	Yep.
	...

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