All Forum Posts by: Marcus Johnson

@Matt Jennissen

Here is how simple Airbnb is truly. I’ve owned one for the past two years I made a ton of money off of it. I know a pocket in southern Minnesota on a lake, were you get clientele from surrounding states that are willing to pay anything for a vacation or for work or for anything college related or hospital related. All you have to do is move into the area which is very affordable remote access to work making better money, and you can make a freaking killing. You do all the turnover all the handyman calls and you can make literally your entire retirement fund doing this. I personally don’t want to do it because I don’t want to live down there but if I did wow. If anybody want to talks about this with me I’m willing to chat with them personally.

@Steve K.

Plus he does site multiple biblical verses that speak about the borrower is slave to the lender.

@Mike S.

That’s because he can pay for real estate in cash unlike most people.

Yes, it seems people have very strong opinions towards Dave Ramsey on this forum.   I used Dave Ramsey's plan to get out of debt in my early 30's.   I hate debt, but I'll admit I've used leverage conservatively to acquire our wealth.  The past two decades we have seen 3 major events happen, the technology bust of early 2000's, I was laid off twice and struggling, 2008 the Great Recession and now this last mini Recession.  It makes me think Dave Ramsey is on to something, when people need the gov't to spend trillions on small business loans, unemployment, stimilus checks, etc..   It just shows that if you are leveraging, you better be damn sure you can ride out a wave of non-payment by your tenants should the gov't not be able to rescue everyone. 

I'm in the midst myself of paying off our duplex in the next 3 years and then using the cash flow and my w-2 income to quickly save up another large down payment to buy more properties that aren't overpriced as they are now in my neck of the woods.   I'd rather be fiscally sound, with a large net worth, then to not be able to sleep at night because I'm leveraged.  

@Steve Morris

I don’t know man, I’ll bet his net worth is much larger than yours. 

@Aliz Raksi

Just a quick question, you said you haven’t started screening your tenants yet that I’ve applied, why not?

@Anand S.

The majority of states are seeing a massive decline in cases and deaths, just do the research. Currently Florida, Arizona, Alabama and North Carolina are seeing a high amount of cases, but not many deaths. And if you look at the cases and deaths per 1 million, Arizona, North Carolina and Alabama have a very low rate. That’s only four states on 50. The states that have had the most amount of cases and deaths per 1 million population are New York New Jersey California Illinois Texas Florida Massachusetts.  with the exception of Illinois the Midwest is on the decline in both cases and deaths. 

I just did a showing last week and gave my perspective tenants options, and 99% of them I wanted in person showings. The unit rented within one day.  

@Kristian Conway

Not that I’m fully on board with Dave Ramsey’s plan on cash buying investment properties, but I doubt many of you on this forum can pay for a brand new $40 million facility in cash like Dave Ramsey has.. He must be doing something right.

@Kai Sato-Franks

We have to remember it’s much easier to borrow money and pay it back, it’s much more disciplined to wait until you have enough money to pay for a property in cash. If you don’t believe me, if you made at minimum 100k and you lived well below your means how hard is it to save up 50 grand a year? In five years you would have enough to buy a duplex in cash for 250,000. .

@Bill Brandt

So far 0% default rate.