Should I Pay Off My House or Buy a Rental?
Ramsey Everyday Millionaires
Ramsey Network
4.6 • 3.6K Ratings
🗓️ 31 March 2023
⏱️ 4 minutes
🔗️ Recording | iTunes | RSS
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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 | Valorys with us in Sacramento, |
| 0:19.0 | Hi, Valerie, welcome to the Ramsey show. |
| 0:21.0 | Thanks for taking my call, Dave. |
| 0:23.0 | Last time I heard you speak, |
| 0:25.0 | I was with my 12-year-old son |
| 0:27.0 | and he has been frugal ever since. |
| 0:29.0 | You saw you so thank you for that. |
| 0:32.0 | And I'm calling today, I'm selling my cabin |
| 0:36.0 | that is currently buried in snow in Tahoe. |
| 0:39.0 | And I'll be making about 388,000. |
| 0:42.0 | My question is, |
| 0:44.0 | should I take the proceeds of the cabin and pay off my mortgage, |
| 0:48.0 | which is 200,000, |
| 0:50.0 | and I have roughly 50,000 in other debt, |
| 0:53.0 | or take that money to buy a |
| 0:57.0 | another similar place in a place with no snow, |
| 1:01.0 | where I could collect about 1500 in rent. |
| 1:04.0 | If your home was paid for, |
... |
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