This Mistake Caused Dave Ramsey to Go BANKRUPT at 28

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Financial radio show host Dave Ramsey went bankrupt and lost everything when he was only 28 years old. This video shares the little-discussed reason why (hint: it was the TYPE of debt) and how you can avoid the same fate if you buy real estate.

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TIMESTAMPS:
0:00 - Dave Ramsey goes bankrupt
1:46 - Typical 30 year mortgage
3:01 - How to pay a balloon note?!
4:10 - Dave sealed his fate with balloon notes
5:43 - My view on debt
9:14 - Not all debt is equal!
11:25 - Watch out for sneaky balloon notes
14:35 - Think outside the box with financing
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Footage and photos credit to:
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“GET STARTED in Real Estate Investing”:
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“100 Year Old Triplex Remodel Vlog”:
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“Ask Coach Your Questions Series”:
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“Rental Property Analysis”:
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“Creative Financing ToolBox”:
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“NITTY GRITTY Real Estate Investing”:
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“BE YOUR BEST (Productivity Hacks & Personal Growth)”
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