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The Ramsey Show Highlights

"You're Stuck In A Broke-Person Mindset

The Ramsey Show Highlights

Ramsey Network

Business, Education, Investing, Self-improvement

4.5839 Ratings

🗓️ 28 August 2025

⏱️ 9 minutes

🧾️ Download transcript

Summary

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Transcript

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0:00.0

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0:06.7

Well, we are, we have a lot of debt and we just kind of shifted our thinking the last couple

0:12.5

months. We've been, Dave Ramsey fans, our whole marriage. We got out of $30,000 of debt 10 years ago,

0:19.0

but then started going down the slippery slope. My husband's

0:22.5

about to be 40. I'm 37, and we have three young kids at home. We have two rental properties.

0:28.9

One's on the market right now in the Nashville area. We owe 170 on each, and they're worth

0:35.6

about 310 to 320. We're hoping to get one at a time. My question is

0:40.7

what to do with the profits. Are you just selling one or both? We're planning on selling both

0:48.9

but one at a time because they're in the same neighborhood and they would compete with each other.

0:53.2

Ooh. Oh, fight. Y'all should pick one. You get one and he gets the other and y'all should compete. What caused you guys living in Savannah to get two properties in Nashville? We used to live in Murfreesboro and my husband went to MTSU. Oh, so you became landlords by default? Yes. Not by choice. We worked the system. We had the

1:13.6

VA loan. We lived in a year, moved in the year, moved. So we thought this was going to be a great

1:19.7

source of income. Over the years, it's been great, but we're kind of, I'm wanting to get out of it

1:24.8

because I manage it primarily.

1:28.4

And we went into debt turning one into a furnished rental last year and renovating it.

1:34.1

So we have about $24,000 on a credit card left from that.

1:38.5

We've paid about half of it off.

1:40.0

It used to be over 45.

1:41.6

But we still have 24 left, and we want to get rid of that.

1:46.2

We have 31,000 on a car loan, and we have our primary mortgage, which is 292 left.

1:55.5

And then we also have business loans.

1:57.8

So my husband moved here, and he started a land clearing business. And so we

2:02.9

have two loans with the business. We're in our third year. How much business debt? We have an SBA loan

...

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