So Dave Ramsey says that when he interviewed 10,000 millioniares close to none used debt or leverage to get there. 

It's a bad thing for banks and whoever is holding the loans (i.e. the creditor) but anyone who is a debtor will come out ahead - that $100k mortgage?  

From reading all the responses I think it is safe to say that it is a good strategy for someone who wants to reduce their debt or create more equity at a faster pace, but not necessarily the best route to take for an investor who wants to expand their portfolio quickly since those saved funds could be deployed to purchase more properties.

Please post your questions here so that we may all benefit from it.I believe your question pertains to acquiring the debtor's right of redemption in those states that have a redemption period.

The truth is that inflation helps ALL net debtors because their debts are decreased in real terms.

I would always recommend that someone get their own house in order (which means elimination of all but low-interest consumer debt or personal mortgage) before throwing money into investment RE.We are considering purchsing a property to either flip or buy and hold with a friend which will minimize expenses.

Hey @Christopher Eduardo, Please talk with a tax lawyer to make your final decision, but in general: In a Chapter 13 bankruptcy, a debtor creates a repayment plan to gradually pay off their debts over a specified period, usually three to five years.

Is the LLC going to be getting the loans or debt or will you still carry it in your personal name?

I see way too many people in their 60’s who’ve spent every dollar as they’ve made it and are going to be facing either debt or a severely reduced quality of living going forward if they ever retire.

The bankruptcy courts decides what you sell and what you pay to repay your debtors.