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Updated over 9 years ago on . Most recent reply

User Stats

6
Posts
0
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Jerome Wiley
  • Investor
  • Los Angeles, CA
0
Votes |
6
Posts

Successful investors who use Dave Ramsey's strategies

Jerome Wiley
  • Investor
  • Los Angeles, CA
Posted

I would like to hear from sucessful investors who use Dave Ramseys strategies.

Most Popular Reply

User Stats

43
Posts
42
Votes
Justin Workman
  • Flipper/Rehabber
  • Freeport, MI
42
Votes |
43
Posts
Justin Workman
  • Flipper/Rehabber
  • Freeport, MI
Replied

I have held true to the debt free mentality for several years, and it has worked great for me.  I started out buying a 5 lots on an online auction.  I only paid $2250 per lot and there were others listed in the development for 30k.  After paying cash for the lots i sold them to a builder for 15k per lot.  Then i took that cash and bought a house to rehab and sell.  I have continued this process very successfully useing all if my own cash.

After selling 3 to 4 rehab houses, i have enough cash in the bank to purchase a rental, rehab it and continue my flipping business.  Its a slow growth model but eliminates most of the risk.  At the ripe old age of 32 i own over 2M in real estate free and clear and never have to work another day in my life.  My rentals have made us financially free and i dont have to flip a house to survive.   Which is very helpful in today's market.

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