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Dave Ramsey says: Plan better, don’t rely on crowdfunding for real estate investment

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Dear Dave,

I’d like to get involved in real estate investing, but I don’t have a lot of cash at present.

What do you think of the idea of crowdfunding as a way to invest in real estate?

— Adam

Dear Adam,

I’ve got a bunch of real estate and I love it.

But I wouldn’t go the crowdfunding route as a way to get started in real estate investing. I wouldn’t give someone money to buy real estate in a crowdfunding scenario, either.

The late Beverly Sills had a great saying: “There are no shortcuts to anyplace worth going.”

Investing in real estate is wonderful when you do it right. Get out of debt first, pay cash, and find great bargains.

When you get in a hurry, and do dumb stuff like go into debt or get mixed up with partnerships in the process, real estate’s a horrible investment.

I admire your ambition, Adam. But I would advise you to follow my lead on this one. You’ll be glad you did!

— Dave

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