So Dave Ramsey says that when he interviewed 10,000 millioniares close to none used debt or leverage to get there.
So how many of you out there have used leverage, maybe conservatively, to increase you net worth and cash flow with real estate? Or did you pay cash like Dave?
I feel like its not so bad to have a ton of debt if say you had a good pile of reserves for when you need it. What do you think?
Rental Property Investor · SE Michigan · Member since 2014 · 4k+ posts · 6k+ votes
2y
Dave must have screened out anyone who had debt before he interviewed them because I don't believe his experience could logically be extrapolated to society at large.
Really appreciate everyone's thoughts! I was getting DR fever thinking I would have to pay my mortgages off etc.. but you all have encouraged me to grow doors with a healthy debt and inspired me with your stories! Thanks so much everyone!
I am learning! Yeah I was for a second thinking about paying mortgages down but I am still in the acquiring phase so I will wait until we have a few more properties first. Dave is good for consumer debt, not investors!
Avoiding consumer debt is a good thing and people who aren't investing should generally avoid debt, but Dave Ramsey is a one note song IMO