Possibly, the guy inherited 500K from a relative (most likely a parent) and is embarrassed to admit that he didn't make the money through his business.
Yeah, a 28-year old guy who says that he has saved up half million dollars makes me very skeptical of that claim unless he really is a fabulously successful businessman.
JESUS, this comment section is so DUMB. No wonder why you guys will never be financially independent. I’m 24 years old and I make close to seven figures already with e-commerce. It’s never been so easy to make money these days, Stop acting like Idi*ts please.
Dave went from telling people not to panic buy houses, to now telling people in almost every video that it’s the best time to buy. I think he realizes how much it’s slowing down and has a little bit of stake in the game
You just repeated the same thing in your comment. I'm guessing you left some words out or poorly wrote what you're trying to say. "not to panic buy houses" , "it's the best time to buy" are both telling you to buy.
As much as I like listening to Dave, it’s important to know that up until late 2008 Dave vehemently denied that we would be going into a recession at all. He may be good at reducing debt but his track record with economic predictions is pretty bad.
Dave: I don’t hear an emergency hear for you. I do want you to buy in the next three years, but not in the next three months. This guy with the word “facts” in his name: Dave wants you to panic and buy something immediately because he’s selfish and wants your money.
Maybe he wants to keep his business a secret. What’s wrong with that? I think it’s a brilliant idea to keep your personal & financial info to yourself and not share it at all.
The only reason to buy right now is if you have the cash to do so. Dave keeps saying houses won't get cheaper. I think there will be a crash where they will be cheaper within 24 months. Until then pile cash, especially if you don't even have the 20% down...
Interesting opinion Josiah, I'm totally hooked. Do you anticipate the crash affecting different parts of the US in different amounts or all the country the same.
@@Videpedia101 yup and with the interest rates the way they are you are actually losing buying power. Seen a few sites do the math. The stuff from CNBC might be false (idk) but it states that you actually spend less in the long run on a high cost home with a lower interest rate than a cheaper home and a higher interest rate. 30 year mortgage was used in examples.
@@rickysoulless6534 they have and are . I was under contract on a townhome for 335 when listing price was 375, people getting desperate to sell, I pulled out .
@@mannyjeanpierre4062 knowing what I know now my net worth would have been quite a bit higher without a significant increase in risk. Maybe not a mistake, but also not the best use of my cash. It was dead money for several years
@@03c5z but you could “sleep better at night” is what everyone says. I took the money I could have paid half my mortgage with and invested it. I’m a millionaire now. A low percentage mortgage debt is money in the bank.
I live in Miami. Depends on area. If you want to live in Brickell, Downtown Miami, Midtown, Coconut Grove, Coral Gables, Pinecrest, you won't get a 3BR for 300-600K.
Don't buy the house before you marry especially if marriage is in your near term horizon. If you do then you will be selling it after getting married because she most likely will think it is the wrong house.
The fact that you are watching Dave Ramsey videos suggests to me you may be wrong. People who listen to his advise and then apply lessons tend to exceed expectations.
“Hey Dave, I wanted to call in to waste everyone’s time by asking a question I know the answer to and that you will agree with as well as score some brownie points over a phone call. Can you help me?” 🤦♂️
Nowadays if you have a home in a decent neighborhood in California you’re nearly a millionaire. Dave’s book is out of date. In Los Angeles you are a millionaire if you have a paid for house.
I’m pro buy a house with cash. He could buy a good multi family before first make some additional money plus the additional $250k from his business and then in a two year time frame buy his single family!
@@alexlewis8143 it wasn’t a “mistake” because without the debt part, he wouldn’t have the wealth he has today. Most successful business owners have to go into debt in the beginning to achieve financial success.
Generally you need to be smart to make a +$300k salary. To make a business that makes +$300k you just need to be clever. You just need to understand how to make a customer happy in one or two ways. Lots of dumb people are clever about one or two things.
i have some questions, when dave asked what he did to earn that 500K$, the man shifted and changed the direction of the conversation without telling US what he does. what does he do to earn close to a million $ in less than a year?
Paid off primary home in nine years and paid cash for my second home. Money invested and already working for me since high school. Even continued saving,investing,and funding retirement through it all. I guess what you say may be good for people who never saved or invested until late 20s or older with a lot of debt..
@@minimalist_monk I purchased my house in cash. Also you save upfront cost paying with cash. My house was a new build and developers typically don't negotiate on new builds. I was able to get a 3% discount on a $300K house because the previous buyer fell through. Additionally, my closing costs were only $2K. If I financed it would have been closer to $10k.
He could buy a palace in West Virginia with very low property taxes! Get the heck out of expensive Miami! Governor DeSantis is great, but very expensive real estate.
I would not buy a house now at all the inflation everything is going to go right back down prices will be lower next year also if you notice whenever Dave ask somebody about how they made their money so fast and and how they made so much when they're so young they never want to reply that's probably cuz there's drugs
Bought a house in 2006 with cash for $129K and sold it in 2016 for $65K. This was a real life situation and NOT some Ramsey speculation. Dave only talks about what could happen, but not what actually happens. Guy's a total muffin brain. You lose when paying in cash. ALL THE TIME!
When you pay double its value (or more) and then find out its also got termites... and the termites abandon the building.... you lose on real estate. There are VERY FEW places that the average home value dropped 50% in that 10 year span. Just the places that people were abandoning homes for cause (like major parts of Houston got flooded and nobody had flood insurance... and your house needs to be gutted to be restored,so you sold it as-is with the mold included free.) Real estate in normal places goes up slightly faster than inflation.
That's what happened to you. I had thorough inspection of the homes I bought but also checked the neighborhood,schools,zoning,flood zones,future city and area planning/projects,demographics,etc..in the area. Thorough inspection before purchase and proper upkeep was just part of it. Paid cash as well. No issue
Women are so egotistical. "Yeah, he may make a quarter million per year, but I have a ring on my finger so that means my opinion on where we live is equal to his." Disgusting.
@@mg2619 If you haven’t read the Bible. Then you yourself don’t know how marriage works because marriage is a religious institution. That’s a fact, not a opinion.. we know this because human beings are the only species on the planet 🌎 who get married.. so please tell us how marriage works using religion
@@mg2619 Yeah a modern marriage is when a woman betroths herself to half of a man's net worth in exchange for not providing heirs or keeping a house because that's oppressive.
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*FBI AND IRS has entered the chat*
You made me laugh 🤣 lol
They both need to be chasing Hunter.
dead.
Haha.😂😂
He is making money because he is not married yet 😂😂
The lady even said if he marries his gf now she will have a say in the home he wants to buy eventhough she probably put no pennie toward it.
Some marry well, some very well and for many it's a disaster.
Caller: have 500k+ in saving
Also caller: "it's rough out here"
lol
calling the housing market rough not income
It’s always smart to turn Monopoly money into something of real value.
Like tulips
KK
@@Jon-ko3vv correct
Fool
What was the tulip thing again? I remember some story about tulips and learning something important from it, could someone remind me?
Someone can make 500k a year and not feel comfortable buying a house… I’m doomed
yeah he said "it's rough here" lol
He's not comfortable buying the house because there's no established history of earnings. Easy come, easy go.
He didn't say he makes that much money every year, did he?
@@kaohsiung99 regardless, it's still half a million cash 😐
Pretty sure it's an inheritance
Possibly, the guy inherited 500K from a relative (most likely a parent) and is embarrassed to admit that he didn't make the money through his business.
Yeah, a 28-year old guy who says that he has saved up half million dollars makes me very skeptical of that claim unless he really is a fabulously successful businessman.
@@ryankiel4895
It is Miami...products from S. America🚢🔫🚬.perhaps...
@@ryankiel4895 yeah it's miami, I don't think it's that difficult to make 500k from a small business there.
JESUS, this comment section is so DUMB. No wonder why you guys will never be financially independent. I’m 24 years old and I make close to seven figures already with e-commerce. It’s never been so easy to make money these days, Stop acting like Idi*ts please.
Dave went from telling people not to panic buy houses, to now telling people in almost every video that it’s the best time to buy. I think he realizes how much it’s slowing down and has a little bit of stake in the game
Lol….. you know nothing about economics stop Boeing jealous
He would still say for people not to panic buy today. He will also say for people to buy today, if ready. Two different ways of buying.
You just repeated the same thing in your comment. I'm guessing you left some words out or poorly wrote what you're trying to say. "not to panic buy houses" , "it's the best time to buy" are both telling you to buy.
As much as I like listening to Dave, it’s important to know that up until late 2008 Dave vehemently denied that we would be going into a recession at all. He may be good at reducing debt but his track record with economic predictions is pretty bad.
Dave: I don’t hear an emergency hear for you. I do want you to buy in the next three years, but not in the next three months.
This guy with the word “facts” in his name: Dave wants you to panic and buy something immediately because he’s selfish and wants your money.
If you love the house, it's a no brainer. Paid in full!!!
Is not about love. Property is about business
@@marlonyoutube3496 Okay, your point?
@mary fields if you don't see the point ,you need help. You don't fall in love with a property when you invest. Period...it's a business not pleasure.
What if it's in Saint Louis Missouri and there has been a population decline for the last 10 years. Murder capital of the USA.
What on earth does this guy do to earn that kind of money? He wasn’t very vocal about that. I smell suspicion.
Maybe he wants to keep his business a secret. What’s wrong with that? I think it’s a brilliant idea to keep your personal & financial info to yourself and not share it at all.
@@defenderofdecency7218 I'm starting to think the same
Drug mule.
Pharmaceuticals are a great business in Miami…🤣
Too competitive and dangerous.
@@coniccinoc Funny, tho.😆
im in love with the coca coca.
I think I would take half of that and put it into an acre outside the developed areas- it's cheaper, less volatile and holds value.
Glad to hear this guy is making so many good moves.
By leveraging good debt interesting concept.
That was great advice. Today, 1 year later, those same homes are half the price.
Source ?
The only reason to buy right now is if you have the cash to do so.
Dave keeps saying houses won't get cheaper. I think there will be a crash where they will be cheaper within 24 months. Until then pile cash, especially if you don't even have the 20% down...
I’m waiting to started buying a duplex to rent out.
Won't happen. The rate of increase will slow but houses wont ever get cheaper again
Interesting opinion Josiah, I'm totally hooked. Do you anticipate the crash affecting different parts of the US in different amounts or all the country the same.
@@Videpedia101 yup and with the interest rates the way they are you are actually losing buying power. Seen a few sites do the math. The stuff from CNBC might be false (idk) but it states that you actually spend less in the long run on a high cost home with a lower interest rate than a cheaper home and a higher interest rate. 30 year mortgage was used in examples.
@@rickysoulless6534 they have and are . I was under contract on a townhome for 335 when listing price was 375, people getting desperate to sell, I pulled out .
He calls Dave "cash only" Ramsey to ask if it's a good idea to buy a house in cash. What does he think Dave is gonna say??
And there are lots of millionaires that didn't have a paid off house before they became one.
I had a paid for house before I was a millionaire. It was a mistake.
@@03c5z why do you say that?
@john Smith can you please elaborate further on why you feel this way???
@@mannyjeanpierre4062 knowing what I know now my net worth would have been quite a bit higher without a significant increase in risk. Maybe not a mistake, but also not the best use of my cash. It was dead money for several years
@@03c5z but you could “sleep better at night” is what everyone says. I took the money I could have paid half my mortgage with and invested it. I’m a millionaire now. A low percentage mortgage debt is money in the bank.
Florida has Flex neighborhoods and also Flax neighborhoods too! The state attracts both young and old alike lol
Unless this woman knew you when you had nothing do yourself a favor and don’t ever marry. Unless you want to plan on losing half
Wise words
You don't have to show off when dating. The people you date do not have to know your net worth..smh
@@twincherry4958 My thought is, if they cannot figure it out....too bad, so sad.
This guy needs a prenup if he gets married to his gf. A future divorce could ruin all of the hard work and money he's saved up.
Wholly owned and titled as: Unmarried Man, Sole and Separate property
If you look at places for sale in Miami between $300 - $600K, there are 598 listings and very few are 1/1s. Most are 3BR.
I live in Miami. Depends on area. If you want to live in Brickell, Downtown Miami, Midtown, Coconut Grove, Coral Gables, Pinecrest, you won't get a 3BR for 300-600K.
@@truthserum5310 blah, blah, blah ....
Didn't say his "business" so he's hiding something lol
Yeah right
Exactly ‼️
What kind of busines
Hiding something
Oh kiddos 🤣🤣🤣
Don't buy the house before you marry especially if marriage is in your near term horizon. If you do then you will be selling it after getting married because she most likely will think it is the wrong house.
You can buy before you are married.
Plus it will be "your" house and not "our" house. This is not a recipe for a successful marriage.
You need to buy a house before because when that divorce comes she can’t take it you simp
@@amyhood6562 So...did your hubby move in? If he didn't, then what's the point of making major life choices before marriage?
@Unknown Comment you know the deal
I'll never be able to buy a home now.
things change
I’m on the same page.
@@bobsacamano7653 they do. But who's narrative do you follow? Dave is saying prices never go down.
The fact that you are watching Dave Ramsey videos suggests to me you may be wrong. People who listen to his advise and then apply lessons tend to exceed expectations.
If you keep stopping to yourself probably not
“Hey Dave, I wanted to call in to waste everyone’s time by asking a question I know the answer to and that you will agree with as well as score some brownie points over a phone call. Can you help me?” 🤦♂️
On my way to the bakery right now. Dave, haven't forgotten about you.
it's called "humble bragging" some people need validation.
😂😂
Nowadays if you have a home in a decent neighborhood in California you’re nearly a millionaire. Dave’s book is out of date.
In Los Angeles you are a millionaire if you have a paid for house.
Where I live no homes are listed under 2.5 million.
I agree in the sense that you can't eat a house. So I think having 1 million in invested assets is a better contemporary definition.
Wish they would have asked what he did for a living?!
Loved to hear more on how he got 500K+ at 28... LOL. Quite the "entrepreneur
"
Inheritance
My horseracing tips like Sylvia Hanover and Buttercup Hanover.
I’m pro buy a house with cash. He could buy a good multi family before first make some additional money plus the additional $250k from his business and then in a two year time frame buy his single family!
500k at 28, the coca business in Miami is still good i see.
Well done, Michael ..
"I managed to save up 550 thousand dollars" so your typical average Joe.
You realize 10% of the USA are millionaires. Not everyone is lazy.
**sigh** another non-problem.
Seems like a problem to me.
Not everyone that calls will be close to living in car or starving.
I was waiting to hear what exactly he does, but I didn't hear it. I would like a piece of that!
Can he move out of Miami and still do good in his business?
He went into debt to become a half a millionaire. Noted 📝
He paid it all off. And said it was mistake he learned from
@@alexlewis8143 it wasn’t a “mistake” because without the debt part, he wouldn’t have the wealth he has today. Most successful business owners have to go into debt in the beginning to achieve financial success.
Well, I don't have and don't use debt and I am a millionaire. He's a short turn half millionaire.
do not get married unless you want a jailer
You can buy before you are married. And your GF can also move in with you before you are married.
Doing major life choices "before marriage" is why this country is in chaos.
Jimmy McGill is a bozo
The caller is just bragging. If your capable to make 500k you don’t need advice. He wants clout.
I got that impression too
He should sell his business and move to norcal. They give away mansions here.
What part? All I’ve seen is high prices for Cali
Dude.... stay single. Or get a good pre-nup...
Dave is anti-pre-nup in general, but with the marriage failure rate, you need one.
A woman worth marriage shouldn't need a prenup.
@@kkknotcool Good luck with that.
@@fhuber7507 You wouldn't need luck if you are a good judge of character.
Honestly doesnt sound too smart to be having 500k maybe inherited
Generally you need to be smart to make a +$300k salary.
To make a business that makes +$300k you just need to be clever.
You just need to understand how to make a customer happy in one or two ways.
Lots of dumb people are clever about one or two things.
Dave is awesome!
We're in a huge bubble folks. Hold off on buying right now.
What about now?? Lol
Jesus saves. Love you guys.
Rachel got excited again. Young guy with good voice and money. Lol
What business did this fine young man create?
Plot twist. He actually never moved out of his parents' house.
i have some questions, when dave asked what he did to earn that 500K$, the man shifted and changed the direction of the conversation without telling US what he does.
what does he do to earn close to a million $ in less than a year?
Yes
Cartel
When it's not a real person or a real story there is no logical answer
Professional drug mule.
Ugh…house buying…most stressful topic ever
Still waiting for anyone to answer the f question.
No, absolutely not. House prices are about to crash. Wait for it, then buy with financing.
Where are you where you can buy a house in cash , vancouver is too expensive still
The guy financed a business and made it. Look at dave squirm lol
Yes. Cash is losing money every day
Holding cash beats losing all your money.
Good stuff
Mortgage 6.13%.
Bro only called to flex
Definitely a Miami thing to do.
Don't buy ... wait
Never buy a house with cash omg, put 20% down and 30 years fix, invest the cash
Paid off primary home in nine years and paid cash for my second home. Money invested and already working for me since high school. Even continued saving,investing,and funding retirement through it all.
I guess what you say may be good for people who never saved or invested until late 20s or older with a lot of debt..
And pay that extra interest on the house? nope
@@minimalist_monk I purchased my house in cash. Also you save upfront cost paying with cash. My house was a new build and developers typically don't negotiate on new builds. I was able to get a 3% discount on a $300K house because the previous buyer fell through. Additionally, my closing costs were only $2K. If I financed it would have been closer to $10k.
@@coreyadams1982 Congrats to you. People don’t want to hear it . However cash is the only way to buy a house.
But all that interest you would pay could go into investing
Can I get that book, please?
Pay a mortgage your rich own houses your WEALTHY you need to buy when you have over 200k if you don’t own any houses.it’s net worth law
Still haven't a clue on what this fellow actually does for a living
Dude, just don't get married.
It's shocking how uncreative people like this are. So many people making 100k-300k that have no idea what they can do. Baffling
Sounds like he lied on his PP Loan
What does he do for a living?
Serial entrepreneur
Whatever you end up doing, don't get married
My biggest regret and I’m almost a millionaire. I’m worried
That’s great and all but he said “uh” about 20 times
His first mistake will be marriage. Bank & date bro!
What exactly are those companies?? We would like to know details!!!
He could buy a palace in West Virginia with very low property taxes! Get the heck out of expensive Miami! Governor DeSantis is great, but very expensive real estate.
No....lol
But can he make the tax payment and put food on the table?
Get a bad wife/kids and that will fix his wagon.
This is actually the same question I was having this week.
@john Smith it's in the title of the video mate.
Troll
So what are these “business ventures”
Heroine drug mule.
Wow that's amazing
So what does he do? Tf
Half price houses next year
look, the sky is Red!
Nope
Yes I was wrong And even worse the rates went way up
@@shannonzittlow8462 instead of half price houses they became double priced houses..with double priced interest rates 💩
yes to can .and casch much better . and direct from the owner . Thankyou Ramsey it seems you are the only that agrees whit me JOSEPHINE BOUWER
This guy never said he hit tha jackpot
Miami $500’k house is nothing
What does he do for a living? He was hiding it pretty well………
Narcotics distribution
Dude buy multiple properties outside of Miami smh…Is this guy for real?
I feel sad for people who think this is real.
Just because you can’t do it doesn’t mean others can’t either
I would not buy a house now at all the inflation everything is going to go right back down prices will be lower next year also if you notice whenever Dave ask somebody about how they made their money so fast and and how they made so much when they're so young they never want to reply that's probably cuz there's drugs
Inflaiton wil turjn to hyperinfaltion and the U.S. dollar is going tio zilch average h9ome price will rach one billioon by 20230.
What does the guy do?
Baldy will be the richest man at the cemetery...
Dave you didn't even answer the question
How can I block an irritating man?
This guy has Rich people problems!
Definitely drugs 😂
Move to Florida Georgia line. Cheaper.
What business is this?
Is the girlfriend on board and debt free?
Is he living with his girlfriend?
Michael, need an investor?? Sounds like you have a place to grow money in this environment haha 😅
his business was drug dealing
Loan shark!
What a stud!
Bought a house in 2006 with cash for $129K and sold it in 2016 for $65K. This was a real life situation and NOT some Ramsey speculation. Dave only talks about what could happen, but not what actually happens. Guy's a total muffin brain. You lose when paying in cash. ALL THE TIME!
Again, does not happen in good neighborhoods. IE: Buckhead, Belle Meade, Mountain Brook
What condition did you sell it in and what area where you in those play big factors
When you pay double its value (or more) and then find out its also got termites... and the termites abandon the building.... you lose on real estate.
There are VERY FEW places that the average home value dropped 50% in that 10 year span.
Just the places that people were abandoning homes for cause (like major parts of Houston got flooded and nobody had flood insurance... and your house needs to be gutted to be restored,so you sold it as-is with the mold included free.)
Real estate in normal places goes up slightly faster than inflation.
That's what happened to you.
I had thorough inspection of the homes I bought but also checked the neighborhood,schools,zoning,flood zones,future city and area planning/projects,demographics,etc..in the area.
Thorough inspection before purchase and proper upkeep was just part of it.
Paid cash as well.
No issue
The former owner paid $250K in 2006, I bought it from Fannie Mae for $50K in 2011.
Now $500K
NOT ALL THE TIME
Women are so egotistical. "Yeah, he may make a quarter million per year, but I have a ring on my finger so that means my opinion on where we live is equal to his." Disgusting.
Honestly she’s lucky to have a ring
Do you know how marriage works?
🤣🤣🤣🤣 Right? Clown girl hasn’t done sh💩t but leach off of men…
@@mg2619 If you haven’t read the Bible. Then you yourself don’t know how marriage works because marriage is a religious institution. That’s a fact, not a opinion.. we know this because human beings are the only species on the planet 🌎 who get married.. so please tell us how marriage works using religion
@@mg2619 Yeah a modern marriage is when a woman betroths herself to half of a man's net worth in exchange for not providing heirs or keeping a house because that's oppressive.