I only pay cash for property. I'll be fine.
That's a very unintelligent thing to do, Dave Ramsey. He's right. You shouldn't buy something you can't afford. However, you use debt to ease the immediate costs. You want to retain buying power so you can buy dips, you want to get ROI with the leftover liquid you don't use via the loan. Let's say you're buying a $1mil home. You don't put the whole mil down. Instead, you take the $800k you didn't use (you spent ~$200k for the down payment) and you use that to make money while you pay off the loan. You'll very likely be able to take the 800k and use that to do more than just pay for the mortgage on a monthly basis. If you're smart, you can get ~$80k per year with that $800k, maybe as much as ~$128k if you're keen. If you're just some brainlet, there's still normie-tier tradfi ways you can get over $60k per year. Dave Ramsey is a retard. His advice is for poorfags and brainlets. Are you poor and stupid? If not, then learn how to play the game too. You don't need to depend on retards pandering to brainlets.
It's just as easy to use equity from a home that is paid off to leverage for other ventures.
When you are at a certain level of wealth, it is smart to try and leap frog... especially if your are into acquiring a series of rental properties.
Properties are to serve as a back stop, but I'm more of an entrepreneur and am usually juggling a number of ventures at any given moment.
Plus, my kids need houses and rental properties of their own so that they don't have to worry.
Generally, your advice is good, but it was more applicable to me when I was in my 20s. I'm much older, now.
My guy, if you're at a considerable milestone in wealth, you are using debt.
How long have you been into rentals?
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