Should I Start Flipping Properties?

Ramsey Everyday Millionaires

Ramsey Network

Careers, Investing, Business

4.6 • 3.6K Ratings

🗓️ 29 December 2023

⏱️ 5 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 SmartVester. Connect with an investing pro for free at Ramsey Solutions.
0:11.0	Com slash invest.
0:22.0	You're listening to Ramsey everyday millionaires where we talk investing, retirement, building wealth, and outrageous generosity. Let's move on to Landon in Jackson, Tennessee.
0:26.0	What is going on with you, Landon?
0:28.0	How can we help today?
0:29.0	Hey, what's up guys?
0:30.0	I appreciate y'all taking my call.
0:31.0	Sure.
0:32.0	How can John and I help?
0:33.0	So my wife and I had 26 and we are wanting to start doing small, small, small
0:40.0	clips and I'm just, you know know basically in my small town you can get a small property for about
0:46.9	50 to 100,000 bucks and flip it for 250 and so we're wanting to start doing small flips like that, but it honestly just kind of terrifies me.
0:56.0	But basically what I'm asking is what, I guess, what does my net worth need to be at in order to be safe in doing that and also it you
1:04.6	know makes sense.
1:06.0	Mm.
1:07.0	So you want to get into house flipping because you could five extra money.
1:13.0	Well, I mean, not necessarily because I want to five X my money.
1:15.7	I love real estate.
1:17.0	I'm a realtor, that's what I do, it's a career.
1:20.0	And it's just, you know, something that I grew up watching my parents do and I'm not a
1:23.7	I'm not a fan at all of the the current Tik-Tok trend of finance refinance
1:28.3	by it over and over and over and over and so do you have the money to do these flips and
	...

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