Should I Buy a Personal Home or Commercial Building?

Ramsey Everyday Millionaires

Ramsey Network

Investing, Careers, Business

4.6 • 3.6K Ratings

🗓️ 29 September 2023

⏱️ 4 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	This episode is sponsored by Smart Vestor.
0:07.2	Connect with an investing pro for free at RamseySolutions.com slash invest.
0:15.2	You're listening to Ramsey Everyday Millionaires, where we talk investing, retirement, building
0:19.7	wealth, and outrageous generosity.
0:22.7	Bill in New York City, hi Bill, how are you?
0:26.6	I'm good, how are you?
0:27.8	Better than I deserve, what's up?
0:29.9	I am in between buying an apartment for myself and buying a mixed-use building, and I'm
0:37.5	not sure what to do.
0:40.2	Well, both are excellent things, and so it's a choice between excellent things, right?
0:46.8	It's not like one.
0:47.8	I don't think one's in the stupid column and one's not, okay?
0:51.8	The advantages in a 20-year game plan of owning the home you live in are pretty dramatic.
1:05.0	But obviously investment real estate is pretty dramatic and wonderful.
1:09.9	What happens is what people don't think about when you buy a home, the first thing you
1:13.3	do is you do away with rent, and rent goes up every year, and what you pay for your home
1:18.8	doesn't go up every year.
1:19.8	It doesn't go up some with taxes and insurance, but I'm talking about your payment.
1:23.3	The largest line item in your budget is locked in.
1:26.2	The second thing is it's going up in value, tax-free, $250,000 can be profit after one
1:32.9	year held, single, $500,000 married, and then the third thing is, is one of the things
1:40.9	we find in the millionaire studies, studying millionaires is one of the biggest items
	...

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