Should I Borrow To Buy a Rental?

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.6 • 3.6K Ratings

🗓️ 26 May 2023

⏱️ 7 minutes

🔗️ Recording | iTunes | RSS

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Summary

Listen to how ordinary people built extraordinary wealth - and how you can too. You’ll learn how millionaires live on less than they make, avoid debt, invest, are disciplined and responsible! Featuring hosts from the Ramsey Network: Dave Ramsey, Ken Coleman, Rachel Cruze, John Delony, George Kamel & Jade Warshaw. Helpful Resources: Need Help with your investments? Click here to connect with a SmartVestor Pro. To learn more about how to plan for Retirement click here To learn more about Investing click here Create a college savings plan for your child’s future. Click here to connect with a SmartVestor Pro. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy

Transcript

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0:00.0	The episode is sponsored by Smart Vester.
0:07.0	You're listening to Ramsey everyday millionaires,
0:12.0	where we talk investing, retirement, building wealth,
0:15.0	and outrageous generosity.
0:17.0	We got Daniel and San Bernardino.
0:19.0	What's going on, Daniel?
0:21.0	Hi, Jade. How are you?
0:22.0	Doing good. How are you?
0:23.0	Good. Rachel, thank you.
0:26.0	Yes.
0:27.0	Absolutely. Yeah. How can we help?
0:29.0	Well, I have a question.
0:31.0	I want to invest on a house.
0:34.0	Well, I want to invest on a rental.
0:37.0	I have a property here and I have a piece of land.
0:42.0	That's about a one and a half acre log.
0:46.0	I only use half of that.
0:49.0	In the other space, it's empty.
0:52.0	So I want to set another eight manufacturer home on a lot and rent it out.
0:57.0	Is it okay if I ask for a loan for that?
1:02.0	It's going to be 50% of the loan because I already have 50% before the down payment.
1:08.0	Okay. How much, how much will the total home be?
	...

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