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Quit Blaming the Housing Market (Buy the Fixer-Upper Instead)

Real Estate The Ramsey Way

4,083 views

Nathan and Megan paid off a $155,000 mortgage in under five years, and they didn't do it with a windfall or a rich relative covering the gap. George breaks down how a vacant fixer-upper nobody else wanted turned into a $450,000 home. Watch to see why that discipline mattered more than luck, and why it's a strategy worth learning from instead of a headline to feel discouraged by.

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20 Comments

@TomHartley1 16 hours ago

“We had some family help”

@Captain_Pizza 20 hours ago

Glad he mentioned that you need a dual income to do this

@adamf-p2u 19 hours ago

Be realistic
A fixer up here in LA county is 1 mil

@jesseurizar7146 21 hours ago

Buy a dilapidated house 😂😂
Okay got it

@carloscolondelpozo1477 20 hours ago

Great story and a lot of good advises here but not disclosing how much they actually paid for the renovations is very misleading and the last advise “you just need to be willing to start” is not enough guys.

@mffl2023 21 hours ago

You guys get roasted because 15 years and 25% of your income is unrealistic for the average person.

@dadtheboss 19 hours ago

Oh Gosh..... disconnected from reality

@fool4augusta352 16 hours ago

Ya because we all have two years to goof off on a maybe this property will be available house. Because we all know people who have extra properties just falling into disrepair that they don’t mind letting go for a bargain.
Because we all have top 10% salaries and dual incomes in small towns where the money goes way further.
I’m glad for these two and excited they’re doing well in life but suggesting them as an example when they got lucky with much of their circumstance so their hard work would actually provide substantial value, is silly. It’s not a valuable take to provide, I get that they want to be optimistic and convince people to make good decisions, but selling people things that aren’t available or feasible for them is not helpful.

@Kimo24-r2j 19 hours ago

Chase someone for 2 years. Buy a fixer upper. Use your sweat equity AND your family's. Then be debt free, And oh yea, low cost of living compared to most of the U.S.

@funtechu 21 hours ago

Median household income is $87k, so even at the starting income of $100k they are statistically rich.

@49ersfan72 21 hours ago

You got wrecked on your house payment being 25% of your income which in the market and economy for normal people as being dillusuonal. The new advise buy a trap house? And learn how to do electric and plumbing. I guess it's more realistic, but not much.

@danieljohnson4418 12 hours ago (edited)

What dopey advice. I've seen too many DIYers make substandard and/or dangerous home improvements, so I recommend buying a fixer-upper only if you truly have the skills and time to complete the repairs and upgrades.

@stud6414 20 hours ago

Oh, please

@courtneypalmerbliss288 12 hours ago

Dual income no kids, 140k annual household income, low cost of living, sweat equity from family likely with specialized skills for plumbing/electric.

I don’t see how this situation is for the average viewer. “All you need is top 20% income, low cost of living, no kids and help from family” o okay nice. Nice story but not realistic for almost everyone.

@jeromezerba 15 hours ago

Don't forget those who make 40k - 50k a year by themselves? What about them?

@mattcollins4550 10 hours ago

Good for them, that's awesome.

But they are outliers and not indicative of what most people can do.

Their income was 2x the national average, they had help from family, and they had the skills to fix the place up. And we don't know the cost of the house.

It would be great if everyone could do this but most cant.

@bigt9665 15 hours ago

Last videos comments really flamed Ramsey with a lot of victim comments , they had to upload a new video on a rare case scenario

@thedopplereffect00 20 hours ago

That's right, just buy a condemned house that requires another $100k in repairs and requires another 20 hours a week in your labor on top of your already full time jobs