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I listen to Dave Ramsey a lot. He’s a financial guru that bases his ideals on common sense with a Biblical perspective. And you might be surprised to know that it actually works!

But one of his biggest things is rental property investment. If you know what you’re doing, real estate properties are one of the best ways to make some money. There are dozens of TV shows on about buying property and making a profit from it. People buy a house and make some major improvements and sell it for two or three times the amount they paid for it. Sometimes they even rent it out and create a perpetual income.

But you have to be careful about who you pick for renters. Some are more trouble than they’re worth. And you have to be sure you live the ideal distance away from them. As Dave Ramsey says, if you live in another state, you might come back to find them changing their motorcycle’s engine oil on the living room floor. But if you live too close, they’ll be giving you a call every time a light bulb burns out.

Plus, you also have to invest in the right areas. Places like Detroit and Flint are probably the best investments right now because the houses are cheap. In fact, I just read an article that said banks are simply giving away some homes to potential buyers as long as the buyers promise to bring it up to code.

Posted in biblical finances | Dave Ramsey | rental property investment bdwick's blog | | | | 90 reads