Originally posted by @Account Closed:
You going against Dave Ramsey. He works with people like you and it doesnt end well.
I like Dave Ramsey, but from what I have read and heard from him, he is mainly speaking about people's personal, not business finances. I think most of us would agree when he advises against the too-common problem in America of borrowing money for things you don't really need, like a luxury car, new furniture, vacations, etc. and getting yourself into debt. I also know he has spoken out against taking out loans, such as a second mortgage, for the purpose of investing--but I've always assumed his advice was primarily aimed at people who have to come to him for advice, LOL, because they have trouble with their finances in general, and want to, say, dabble in the stock market with borrowed money. I've heard Dave Ramsey say that if you need a car in order to get to work to make money, it is "ok", even according to his principles, to buy a used car with a loan! So I would extrapolate from that and say that if you need to borrow money in order to buy real estate as part of a well-thought-out business strategy to MAKE money, even Mr. Ramsey would agree.
Geesh- if Dave Ramsey were against taking out loans to start or expand a business, he would be against the whole concept of capitalism! Where would our country be if no businesses ever borrowed money---there would be no such thing as the stock market, for sure--and probably no iphones or computers .
I know that Josh Dorkin has been wanting to get Dave Ramsey on the podcast. That would be so interesting!