Debunking David Ramsey and The Middle Class Trap

Its not what they make but, what they keep, is really important. - Gino

On this episode, Jake and Gino talk about the middle class trap and throw some light on investment advice by Dave Ramsey. They share their experiences and strategy on how they grew their units from zero to more than 1500 in less than 5 years.
You cannot create wealth by just listening to Gurus. You need to figure it out by yourself. You need to take the responsibility for your financial growth. Options to create wealth are refinancing the property and/or repurposing the equity. Besides that you need to utilize the dual asset strategy.

Key Insights:
00:00 Introduction
02:42 You can create wealth by not listening to Gurus but by figuring out by yourself
05:48 Using credit cards effectively
08:00 Dave Ramsey strategy as a starting point
12:12 Its your responsibility to work to get to the next level
14:45 Equity leads to more deals
19:17 Leading life of empowerment
20:30 Dual asset strategy
24:00 Best time to insure and invest is today

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About Jake & Gino
Jake & Gino are multifamily investors, operators, and mentors who have created a vertically integrated real estate company that controls over $225,000,000 in assets under management. They have created the Jake & Gino community to teach others their three-step framework: Buy Right, Finance Right and Manage Right®, and to become multifamily entrepreneurs.

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