Updated over 6 years ago on . Most recent reply
Dave Ramsey on real estate
So in his book "Complete Guide to Money", he says that you shouldn't even get into real estate investing until you're out of debt, maxed out your 401k and Roth IRA options, have paid off your own house, already have enough wealth built up and can pay cash for the properties. But can that be right?! I mean if so then what? You shouldn't get into real estate investing until you're old and retired? And already wealthy? That blows my whole plan apart! I was planning on renting out my house and then use the equity to put down on a second property and so on. Is that not good to do? I hope someone can shed some light on using debt to build wealth.
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#5 Investor Mindset Contributor
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#5 Investor Mindset Contributor
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DR's advice is excellent for most people because most people are not interested in the work it takes to achieve financial success in real estate investing. BP members are different...and have that interest.