Dave Ramsey Melts 27-Year-Old’s Dream
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This totally needs a follow-up call because he’s TOTALLY going to do it.
He has no money though the bank would laugh at the dude
Yep he already pulled out a loan since he called lol
@@edb484 😆😆😆😆
@@MrTmenzo 😆😆🤣
@@edb484if he can get someone to guarantee the loan ie his parents a bank will loan him the money. Let's hope his parents have more sense or deep pockets.
"I aint a dream killer but I love kicking the crap outta nightmares" WHAT A LINE!
Aw, Dave trying to save this baby from a true nightmare. T_T
When Dave calls you "honey" you know you done messed up
Facts
😂
Exactly. Just as if you tune into a Dave Ramsey radio broadcast and hear Dave impersonating someone in a southern accent ,it almost always means that he thinks the person is planning to do something dumb with their finances.
It makes my day when Dave calls men “Honey”.
Lmao
Michael: *What's the best way to get a loan of a million dollars*
Dave: *You don't*
Michael: you are right Dave, but it’s a great opportunity, even though I rent off my parents, have a car loan, no assets, no knowledge, and no experience. It’s a long term investment.
Hope that helps ... next caller.
I laughed out load when he said this. Why would he ever call Dave with this question??
He got the ice cold truth.
Good One!!
😂😂 - Clever!
Pass. The caller is doing it so Dave just gave him a plan that will result in the owner selling to someone else.
Lol 😂
Papa pulled out the ice pick straight away.
"I'm not a dream killer, but I love stepping all over a nightmare." Good one.
At the beginning the caller sounds like he's on Shark Tank.
🤣
I thought the same thing. I swear some people today are so full to brain rot they watch shark tank and think it's a real thing
Every Ramsey Caller: "We have no debt, except a car."
"We have no debt, except for our ......" Then a list of debt follows: 1 car payment, a student loan, 3 charged off credit cards in collection - but those don't count cuz we don't make no payments on them, etc.
@@parochial2356or they don’t count because its “good debt” or “good interest rate” 😂
@@thisoldbelair I think Dave would say something to the effect that "The only good debt is paid off debt." 😁
@@parochial2356 agreed 😁
We eat healthy minus the morning breakfast I have at McDonald’s every day
Banker here. He'll be termed out, overdrawn and crying to his banker about not knowing what he was doing.
...then the parents will bail him out.
@@Songbird36able I grew up as a trust fund baby. My parents trusted me to FUND MYSELF. 😂
@@Songbird36able No, taxpayers will bail him out. Biden will come out with something for losers like him.
@@komradkookoo Biden has never come up with anything. He won't start at the age of 81.
@@TXMama😂😂😂 same
Just need a small loan of a million dollars for an ice business 😂
Hillarious😅😅😅😅😅
What could possibly go wrong?
@@bruceellenburg429 a heatwave 😂
He'll run for President one day once he becomes the top ICE mogul
In our 20’s we think we know everything.
It's more like when you don't have a plan or vision of your own, you are succeptible to scam artists and hustlers who trick you into the idea of easy money. There's a reason his owner is trying to get out of BOTH the ice business and landlording. And he already KNOWS what he's doing. You don't.
Early 20s maybe definitely Not by your late 20s
I did know everything. Now I'm old and dumb and I don't like it.
@@kinked_chrome1438 oh dear some of these responses make me giggle, but I must be quiet as it is early morning here.
@@kinked_chrome1438I don't either
Living at your parents house and you're trying to get a loan for $1 million??? I hope he go back and read these comments.
A grown adult still living at their parents house and trying to get a loan for $1 million has been watching too many Tik-Tok videos; online courses in delusion.
I'm debt free but I have a car we're paying off. Dave doesn't like debt but I'm going to ask him how to take a loan for $1 million. 🤦♂️
Bruh... 🙄
While living at home
Caller: But, but, uh there's always an exception to going into debt, isn't there Dave?
And the credit card!
That’s what I’m sayin. What is wrong with people?
It’s always Im debt free…except for car loans, student loan debt, personal loans…😂
And apparently mortgages aren't debt either according to some.
Mortgages are only debt in the most technical sense. Almost everyone has to pay for their room & board…you can spend X amount renting a place or you can spend X amount and own an asset that appreciates in value….you’re going to pay X anyway might as well own an appreciating asset.
David was much more composed than I would have been. My call would’ve been, “what in the hell are you thinking boy?”
Dave actually dug deeper and gave him good advice. Do the business, rent the building
The look on Ken's face the first minute is priceless!
My parents each started small businesses when I was a teenager. The whole family suffered for years before the fruits of them were tangible. People think it is so easy and while some are extremely lucky, most struggle a lot at first.
He's excited about the "shiny" idea of being a business owner without any idea of what it takes to be a business owner.
soooo many people start businesses like this, it's tragic
Indeed.
He sounds bold, confident, and detailed for an overgrown man child with no assets. Maybe he should consider a career in politics.
Yep
🤣
Young people nowadays want to be their own boss and think it’s going to be a cakewalk. Owning a small business is like having a job but you never get to clock out and go home from it.
There's some truth to that. Can definitely be worth it though, especially after it's built and running smooth.
@@talyahr3302exactly. They just see these dumb influencers and don’t bother to think about the process they went through. Social media is a wrecking ball to the mind of humanity
I bought out the owner of a business where I worked for 8 years. I owned it another 12. I was 48 at the time with about 25 years work experience on top of all of that. I was the last person to get paid every month. I worked 11 hour days and another 4 to 6 hours on about 40 Saturdays a year. This kid has no idea the level of commitment owning this business will require. All he sees are the benefits, not the work required to secure them.
Be proud of that. This is why America is great. He’s ambitious and knows he’s too excited. He made the effort to seek advice from Dave. Gotta remember young ones have no experience
Yup. Pretry much all cases of being successful as your own boss requires more work, sweat, and tears than most traditional bosses' require.
Dave and Kens advice about approaching the boss about getting into a leadership role, growing the business, and creating an option to buy was spot on !
Except that it's a side gig now and he works for his family.
How much time will he have to spend doing that?
His poor wife 🥴
Why? She married him??...I've been saying it for years. You judge a woman off the man she marrys😅
Looking forward to the conversation in 2 years time. Hi I'm Michael, I live with my parents and I spent a million dollars on a ice business which has now gone bust. How do i get out of debt 😂.
It's possible in two years time he will be successful in the Ice business. I always have to wonder "why is he selling the business?". There has to be a reason. If the owner is an old man and just wants to retire, OK, it's possible it's a good opportunity. If he isn't OLD, there has to be a reason he wants to get rid of a "successful" business.
Before he even considers it, he needs to take a serious look at the books to see if the business can pay back the $ million. Not just current year but the previous years as well. Have the profits been going up every year? Or have they been going down year after year? I'm not sure he's ready to run a business.
@@rolandhansen812 Even if it works out, this caller taking out a million dollar loan is foolish if not outright insane. If I bet my life savings on black & it happens to hit, I'm still a moron.
@@rolandhansen812This. I'm going through something like this right now. Reconnected with an old friend about partnering in a company we were set out to launch 4 yrs ago. Pandemic happened, it would have required me relocating halfway across the country so I didn't end up doing it. Fast forward, the company did launch and the person in the position I was going to take has now left the company. My friend and I decide to team up, and I'm hired. Three days on, they decide they need to shut down with no warning whatsoever. Huh? Thankfully I haven't relocated yet. Finally the beans are spilled, come to find out the company bank account is frozen because of a litigation issue unrelated but the banking was incorrectly set up from the beginning and has founder's personal bank account tied to it, so it got frozen with all their other personal accounts. It's a seasonal business and they thought they'd be able to run it just on the (potential but not certain) money that would be coming in this year. Whomp. Did not see that coming. Moral: there is ALWAYS something going on when a "successful" business wants to sell. The fact he has no idea what that is is actually his biggest red flag here. If he's so certain he can run this and be successful, he needs to take his experience and knowledge and just start his own business not tied to anyone else.
Dave said no bank will give him a million $ loan I agree
"I think it is lucrative". that means absolutely nothing. He needs quantifiable data.
I love it when Dave said I’m not a killer but I love stepping over a nightmare. I just love that well said, sir.
No debt but we do have 1 car loan?
How is he going to run a business if he doesn't even know what debt is?
Most callers are like that: "we're debt free except all this debt we're paying on". I just don't get it.
😂 🤦🏽♂️
So many people do that on this show it’s hilarious.
@@Sizukun1 They're doing their own plan and want Dave's blessing
That kid is going to do it because he thinks he knows more than they do 🤯🤯🤯. He's clueless about basic living expenses..... living with your folks doesn't teach you any of that!!!
I saw 3 18 yr olds right outta high school running their own ice biz. Old scrappy freezer truck, old forklift, and determination.
🥴 Probably went bankrupt after a year
I'll bet it didn't cost them $250,000 to buy in to either. Smart kids.
Ken had indigestion just listening to this dude talk at the beginning.
😂😂😂
I listened to this on the radio... it was glorious to hear.
This guy still lives at home? Hilarious. He’s never paid taxes, utilities but wants to run a business
I still live around home. I run a small business from my home that makes me over 100k after taxes. You sound stupid.
He and his wife live with his parents 😂
Lucky him tho. At least he has that luxury..
With his wife too haha
@@tonytoni1150it isn’t a luxury it cripples his maturity. The guy think borrowing a million dollar when he has nothing and lives at home is a good idea. A adult knows this is not a good idea and won’t happen. A 13 year olds plan.
@@tonytoni1150was prob banking on his parents guaranteeing his $1m loan with their mortgage.
Dave was literally speechless right after the question was finished. LMFAOOOOO
Love the direct but loving communication style. Wish we could all be this honest with eachother.
after giving him the playbook, "one last question, how do i still do this?" 😂
This is what kills me on a lot of these calls still living with parents claim they have no debt then not one sentence later says they still have a car note. Do people not understand the definition of debt
I'm getting close to 30 and I live with my parents and they even had to give me a job, so can I get $1 million? 😂
you forgot to mention "I'm debt free" and then 5 seconds later, "I'm paying of a car" lol
“You have car debt and live with your momma.” That’s right, put him in his place, Dave!
👏👏👏👏
Why do people buy business if they don’t see the books. It might be the accountant in me but before buying a business I will have to take those books and go line by line and if I don’t know any accounting I will get a good CPA to do it.
Dave wanted a 24 percent return on his money! Seems high to me...
@@Dave-tz9zxbuying a small business is one of the riskier investments you can make. The higher the risk, the higher the return you would need to make it a worthwhile investment.
@@Dave-tz9zx most business that are for sale are 3-4 x cash flow .250k should be around 70k . and most likely its only 1 guy working at that price
If that ice business is so profitable, the owner would not sell. I have been self employed for 24 years and it has nearly killed me. It is a relentless grind from every angle. People have a fantasy of it in their heads. I love Dave. He is a blessing.
Bless his heart. "Ice world!"
Is this the plot for Frozen 3?
So true your perspective on running a small business
Yes. The current owner is probably tired so he probably would agree to let the caller take over management. Then after a couple years, the caller will actually know how viable the ice business is. Write up an option to buy that separates the business from the real estate too.
Sounds like the owner promised him the secret recipe for ice with the sale?
that dream melted faster than ice on a southern summer day
😂😂😂😂
He's gonna do it.
When he started out the call he sounded so arrogant and smug.
I think that’s the sound of youthful naïveté. Most tech companies were started by these types. Once you get older and gain knowledge, you quickly figure out what could go wrong.
@@mominthe209 when the bank asks for 250K down he will wake up lol
I've heard of burning through your money - this is the first time I heard about melting.
I only listened to 42 seconds and I know what Dave is gonna say
Dave hates loans, with a fiery hell like passion
"Hey Dave, I don't have any debt, except this debt."
lol he calls Dave Ramsey to ask how to get a million dollar loan. :)
You had me at Dave should I borrow. 😂
The stunned silence after he was done should have told him Dave isn't the right person to have this conversation with 😆
Or maybe he is. Some people can know how to build and price a shelf inside and out, but that doesn't mean they should go start their own shelving business.
@@TheRisky9 very true. Working in a business and running it are two separate skill sets.
@@user-kpkxgtj the kids funny you need 200-250k to get a million dollar loan . and even SBA would want you to have lots of experience to get anything like that and they would want 150k . he hit the b0ng
"I was thinking maybe I should change the word from borrow to "be able to obtain" the business for that price"
Yeah bro that flips the math 180 degrees, let's go!
If live in Oklahoma and almost every-time I leave to run an errand another small business is just gone…
Great advice.
An ice business? Just how much money -- profit! -- does it rake in annually? Why does the owner want to sell? Caller is going to take on the role of owner, AND landlord to the tenants in the building?? Do the current tenants pay their rent on time? Too many questions and not enough answers for this headstrong idealist.
Exactly what I commented on another post above. I wish I had seen your comment first.
But even if it made $100K last year it might not be good. If it made $120K the year before, $150K before that and $200K before that. If that's the case, it's a dying business. Run for the hills. If it's the opposite, then maybe you should take the opportunity. There is way too much unknown to say one way or another.
Maybe Mommy & Daddy will loan him the million bucks since they have a successful business.
I could easily see this being a very profitable business, but the fact that he doesn’t know the numbers before he thought to call Dave Ramsey to ask about $1 million in financing proves that this kid has no business being the one to run it.
@@adamseidel9780 Yup! Asking the questions in the wrong order can be as bad as not asking at all.
This guy says he “hasn’t dug into the books” but is ready to go to the bank today and get a loan for $1 million to buy it and keeps calling it an “opportunity”. He has no idea what he’s doing and is just ready to buy whatever is in front of him.
As a previous business owner for 30 years, my advice is to never get a loan to become a business owner. Because the lender will be your boss.
This kid was sold a scam, borrow $1million? crazy.
This kid sounds like he’s never been in the real world, in no way, shape or form does this sound like a good idea
“I dont want to pass up on this opportunity” bro what 😂
Most patient I’ve ever seen Dave be.
"I see a lot of opportunities in the ice world itself"
Dave: "k"
We've all been there. You hear good advice, but then you tell yourself it doesn't apply to your situation. Later comes the regret and you learn a hard lesson.
He's not even standing on his own two legs yet out in the world! More than 2/3 of his situation is family charity. What makes you think you can go from 0 to 100 like that? Oh yeah, your parents planting that seed in your head by taking care of so much for you up to nearly 30
"Dave, I work for a 12 year old making mud pies. He wants to sell his mud pie business...I have no money and would like to buy his mud pie business"
Just pay the 12 year old in V-Bucks for his mudpie business
... sounds like a troll call. A good one.
“I see a lot of opportunities in the ice world”
I like everything about Dave aside from his stance on debt. There is such a thing as good debt if it’s making you more money then the interest on the loan.
This call 📞 was hilarious! 🤪
I’m in a similar situation, and I was calculating through, and the funny thing is following:
1) If I take over the business for 1m it’s gonna take me around 5 years to pay that off.
2) If I start my own business in the same field, I “only” have to make a 50k investment, and if I run the thing well and it grows organically, in 5 years it’s also a 1m business…
So for me it’s very easy to decide which option beats less risk to my family. I don’t wanna drag them down if something like corona or something else happens again.
I think his boss wants to take advantage of how naive he is. He is not doing well and wants out. The callers parents probably have money.
“It dudn’t affect me honey” 😂
How do we keep getting these callers? It feels like trolling. Who asks Dave Ramsey about taking out loans?
They are cherry picking the callers. It's all outrage bait. There's basically never a normal caller with a normal question anymore.
@@LovesGrillingif you go to Ramsey’s old clips from 3-4+ years ago, you could actually learn something from the various people . These days it’s just planted calls and useless idiots calling in.
@@luisvigo3777yep that’s where the gold is
But he is 27 and dumb. Probably not hard to find dumb people.
It’s good to have a non relationship call.
He’s so amped up about the idea that he will do whatever it takes to get this business.
Dave - "You're wrong." Excellent. Also, my pet peeve - any sentence that starts with "in MY head...." just a way to rationalize something dumb.
Dave and Ken are right. Wait a while, get your house in order, forget the real estate, and see if the owner will seller-finance the business to you.
It's difficult especially with the high taxes in CA and NY.
Y'all have said it all 😂
Owner is using him as his retierment exit liquidity. Start your own buisness.
I would also like to buy a business, along with many other things. What I've thought to myself is, "When you are ready, it'll be good."
27. Parents gave him something to do. Lives in property of theirs. I wouldn't be broadcasting that bro. I'd be hiding that
Well bro, that’s better than most parents who pass on debt and trauma to their kids.
I'm sorry that happened to you. I hope you're getting the help you need
I hope you can heal from all of that. Sorry that happened to you.
That’s better than most parents who tell their kids to go to useless college, get into useless debt, to then get a shitty office job.
Why not? I think because of that, he’s gunna be in better position than most if he was saving up his money
I have a cousin of whom many years ago went to chiropractor school and graduated at the bottom of his class and upon graduation immediately bought an existing chiropractor business with zero business experience and at the same time bought his first home. Still blows my mind today how any bank would give him the financial backing for such deals, but he managed to get that funding from my understanding that the bank looked favorably on his chiropractor degree. Needless to say it flopped and very badly for him and it only took about a year as he lost the business and his house foreclosed on him at the same time. Fast forward to today 25 years later and he never worked as a chiropractor but instead has been driving truck since then and has hated it, but it's what pays the bills.
Love this title.
$20 on he’s still going to try buy that business
You might be a married 27 year old but you're still a child if you're living at home, and no bank will loan a child money.
Not necessarily true. It all depends on his current income, being which he lives with his parents and only has a car note. His dti should be low, his credit score and being which he would also be interesting into real estate. They would use a percent of rental income as earned income to help help qualify but I could be wrong
Stupid logic
@reese85 The kid has no track record. When a bank lends a large sum of money to someone with no good track record, and that person defaults, it's the banks fault, in my opinion.
@@GAFB1122 I had no track record but auto loans and I was approved for $500k for my 1st property
@GAFB1122 I had no track record besides auto loans and I was approved for $500k for my 1st property
“It’s a chance to go swimming!” Lol.
Dave should have explained a plan where he could work with the owner to get in a management role with the business and after a year of proving his worth he could start converting a portion of his paycheck into equity. Fairly low risk from both sides and gives him time to get his affairs in order and learn how to run the business.
Hear me out:
90's MadTV doing a parody of this call... I wish it was possible. Will Sasso as Dave and Michael Mcdonald as Ken 😂😂😂
I’ve talked to a bunch of young bucks like this. They like the idea of being SEEN as a business man but are as green as the day is long.
🎶 "The cold never bothered me anyway" 🎶
I have a nephew like this. When I ask him what his business plan is I get the blank stare.
To be able to get a million dollar loan (with no house) you need to show you have millions 😂 This reminds me of the little rascals scene when the kids want a loan for some wood.
Most businesses aren’t worth the asking price
all ur time will be business as you transition. It is hard in that sense good opportunity but be ready to not leave the site in the begining.
I can't explain why but it's so satisfying to watch Dave hit the hang up button. Every. Single. Time. 🤣🤣
5:43
More think it's the mute button as seems like he still talks to them just doesn't give chance for them to reapond
He should have a big red button with a gong sound there 😂
It's a mute button. On some of his clips, he will mute and then unmute later cuz he wants to ask another question.
@@DoctorSmartyPants gotcha. Still satisfying though. 😅 I assumed it was a hang up button because most of the time, you don't hear the caller afterwards / he presses it near the end of a call.
I don’t even understand the mentality of the caller lol. Cmon bro.
"I listen to to you all day, every day. How many credit cards should i get to buy this business of which i realky know nothing?"
Dude really loves Ice!!
00:45 Ken thinking RIP kid
This is so hard I recommend people stick with your job it's not for everyone business is very hard
I wish there were baby steps to building a small business if you're planning for it to be your primary income to help get you financially stable
I suggest working in someone else’s business in the same field. No risk of your own money.