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What Dave Ramsey (Debt Free Guru) won't tell you.

Real Estate Agent with Summit Real Estate Group BRE# 01215778

The quickest and safest way to become a millionaire is through home ownership. The secret to becoming a multi-millionaire is by getting into debt. The reason is simple. It is called leverage. We can buy a primary residence of $500,000 with a $15,000 down payment. Real Estate in California traditionally appreciates around 6% to 7% per year. This is a great return on your investment. However, that is not the benefit. Consider that you have only invested the original 3% your return over ten years may rise to well over $250,000. This is a return of about 17 times the original down payment investment.

How do your investment into millions of dollars?

1- Buy a primary residence home
2- Rent it out after a period of time and use the rental income for a new loan.
3- Buy a primary residence.
4- Rent it out after a period of time and use the income from both properties to qualify for a new primary residence
5- Buy another property... Continue the process and you can achieve financial success and financial freedom in a relatively short time.

Give us a call to get started.

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Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Tony Lewis that's a good game plan....one needs to be disciplined to accomplish it...

Jan 13, 2020 01:27 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hi Tony - the name Dave Ramsey might get some extra eyes for your post and your thinking is obviously different from his.  It's good to have additional thoughts that go into a plan to find out what will work best for you and your goals.  

Jan 13, 2020 04:00 AM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Tony. Not for the faint of heart. Watched many with a similar plan lose it all in 2007-2008. The strong made it through! Enjoy your day!

Jan 13, 2020 04:31 AM
Tony Lewis

Wayne Martin the key is to buy within one's means and not selling at a loss.  The rental income remains solid even if the property values drop provided the home is in a quality location.

Jan 13, 2020 03:52 PM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

This is where I also disagree with Dave Ramsey. Over the years we have bought two second homes in Florida. The first became a rental when we bought the second. The second is about to become a rental now that we are buying a third. As long as you stay there 2 weeks out of the year you can also do short term rentals and you get a better interest rate as a second home. Just make sure you follow the rules and not misrepresent the purpose.

Jan 16, 2020 09:22 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA

We used a lot of leverage during and just after the Great Recession to purchase rentals.  As the market continues to rise, we are actively de-leveraging and are about debt free again.  I think there is a time and place for using debt, but I also agree with Mr. Ramsey, it is pretty nice to rid yourself of all those payments (especially credit card debt) and then invest the money saved.  The key is putting that money to work!

Jan 27, 2020 10:07 AM