Investing with cash only

[Joe Melody]

Has anybody ever tried to invest in real estate without any debt? I would like to take the Dave Ramsey approach to real estate investing, which is to pay off my primary residence, and then save cash for an investment property, acquiring more properties each time I save enough cash. I have a career that pays well that I enjoy, and I’d like to use the time before paying off my current mortgage to read as much as possible about real estate investing. Just wondering if anybody else has tried this much slower approach to gaining financial freedom. If not, I guess I will be the test dummy to see if it’s possible!

[CJ M.]

@Joe Melody

A friend of my has been investing for probably 20 years now. He now has 40 properties with no leverage. He did exactly what you're saying...basically bought properties slow and steady over time.

I've found there are 2 types of investors:

1. Investors who doesn't mind utilizing debt

2. Investors who hate debt

Neither type is right or wrong, it just depends on your goals and business model.