Think Twice Before You Buy a Fixer-Upper…

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 31 January 2023

⏱️ 7 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, Kristina Ellis, & 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.
0:10.8	Joining me today is Ramsey personality, Ken Coleman.
0:15.7	Cindy's with us.
0:16.7	Cindy is in Louisville, Kentucky.
0:18.8	Hi, Cindy.
0:19.4	Welcome to the Ramsey show.
0:21.0	Hi, Dave. It's a Ramsey Show. Hi, Dave.
0:21.9	It's a pleasure to meet you.
0:23.5	Your program really made a huge difference for my family, and it's just been a big deal for
0:28.9	a generation to my family, so thank you for that.
0:31.5	Well, thank you.
0:32.3	How can we help?
0:33.2	So my husband and I have been saving up for a couple years.
0:36.5	He's been saving up since before we got married, and so have I.
0:40.1	And we've got about $100,000 saved up.
0:44.1	I have deferred some of my retirement savings, but he's doing the 15% he's supposed to do
0:48.9	because we want to buy our first house.
0:53.0	We're currently renting from a family member member and I've done a lot of
0:56.3	the repairs on that. Well, I'm fairly handy. There's a house that we're looking at that is an old
1:02.6	Victorian house. You can probably see where this is about to go. It's a bank-owned property. They're
1:09.1	asking about $250,000 for it. And I think it would be worth easily that if it were fully repaired. I think it'd be worth a lot more. The problem is that it needs some significant repairs. And when I say significant, I mean, probably needs to be completely rewired. It still has old black metal pipes that are going to have to get torn out.
1:32.0	And obviously some of those go through the walls, which are old plaster walls. It could be a lot of work getting that out.
	...

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