DANGER: Home Investment Loans & Point.com Exposed.

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[RichardAlbert-zx]

Have an immediate problem with our situation. Retired, expecting to stay in our home which will be placed in trust for our children who do not expect to inherit anything - their take is do what yu want to make things better. House will need upgrades and expenses anyway, besides taxes and insurance. We would expect about 10 years decent health. We have an annuity giving about 10k a year, and about 35k in securities and 70k in IRA securities. 125k borrowed would take care of problems/make house more enjoyable. Based on this, would this be a good or poor investment? I am estimating an HE loan would be about $350 a month - this is still doable in lieu of a 2nd car loan - we could get by. What might be best solution ?

[phenomenon]

You should compare it to mortgage. Throughout out the mortgage loan your true interest is 30 to 40 %, so call mortgage a scam also.

[martainroth]

I bought my home in 2010 for $130, 000, now it's worth $550, 000, so if I sell a 25% stake I get $130, 000, so it seems like a really great deal to me. I'm 53 so after 30 years I'll be 83, or dead and I've gotten to use the money and I don't have to deal with the fall out, and with no kids.... Also my home is worth now the same that it was in 2008 right before the crash, so why does anyone think that prices can stay high where so few can afford them? I cash out what I paid in, I just can't see prices going continuously and if the economy tanks like 15 years ago (which is a common business cycle) I have someone else share the loss. Also lets say we do have another crisis and home prices around the country drop by 66%, will they even still be in business in 20 years? No product is right for everyone, but some a great for a few people.

[charliepugh]

Thank You. I was contemplating this loan ? And you saved me from going down this road.

[msherrill]

Thank you. I read over some of these equity sharing contracts, and it was INSANE. You’re often selling ROFR and POA control over your property. Also, in the event of your death, you’d better have your estate SOLID, because these agreements are super aggressive, putting your legacy at risk! Signing a deal like this is like becoming a tenant in your own residence!

[joonsuh]

Thank you Kevin for educating us on this very dangerous investment vehicle. Truly a public service

[FoodFreedomUSA]

It really depends on your individual needs and timeline. Its a good loan because it doesn’t affect your personal credit and if you time it well, you can pay off the loan during a down market, instead of an up market.

[d.mustang]

Thanks for the video. I was actually looking into one of these and I knew there had to be more than just the pretty print. I was always told what the bold print giveth the small print taketh away. I understand that some people are having bad times and this does sound appealing because there are no payments. I make no judgments on anyone who has to make this decision because everyone has to make their own decisions and what they do with their homes and their home equity. I just encourage people to really do their homework before they do one of these like I am. Thank you so much Kevin for making this video and educating me on this. This really opened my eyes and deterred me from wanting to do it. The only way I would do this is if my back is against the wall and I have no other options.

[angelmcknight]

But it’s not really a scam cause isn’t that still what the banks are getting on HELOC AND HELoans but just upfront. The interest rate tied to the HELOC and payment overtime is pretty much the same thing. But what you get with this is no payments at all until you at least sell.

[kevinivie]

I agree, these loans aren't for average homeowners. They're more for investors. It's like hard money and private money lenders aren't for the average homeowner. Investors pay 9% 15% or even more for hard or private money when traditional financing is around 5.5% at this time. I personally know an investor that used this company and with the proceeds he got, he bought 3 other properties, one in which he rehabbed and made close to 75k in profits and the other 2 properties are rentals. With the profits he made from the 75k flip, he bought 2 other properties. Financed of course. The point is, because of point he has accumulated 5 properties. It's expensive, yes but more for investors.

[alejandromontes]

This is a reason why we need a person like you to lead California. Thank you for this thorough explanation, revealing these type of pot holes that target the less fortunate.

[jamesmc]

iT SOUNDS GOOD TO ME. I' was offered a HEI and I am old and i don't own my home now, the bank does. I can't pay my mortgage now which increases every single year (I live in Florida and insurance is through the roof). I can never pay off my home now unless I win the Lotto. If Point gives me money to pay off my mortgage, then I can live in my place the remainder of my life and I won't have any more mortgage payments. Nobody else has offered me that. I won't live long enough to pay them back nor do I intend to pay them or care what chunk they will own after I am gone. I am not leaving my place to anyone so they can have it all for letting me live out my remaining years with no payments.

[demonicar]

This is an option for homeowners that do not have the ability to take on a hundreds of dollars per month loan payment and can benefit greatly from a large sum of cash. My wife and I plan on taking one of these loans out to remodel our home. We also don’t plan on selling for at least 10-15 years. I already have 100% equity in my home from our initial investment. I’m fine with losing 30% on the back end for money I have no other way of getting now.

[Samantha-true]

I’m sooo glad you did a video on this, I was thinking of doing this

[yizhao]

This company feeds on the bottom portion of society that is already getting screwed by the rapid rate of innovation in our world

[atschuler]

Do some PV analysis on a high cashflow home over 30 years. That's the only time it really makes sense to do this because of the time value of the cash, but the scenario has to be just right to beat out a traditional mortgage or HELOC. I super appreciate you putting this kind of content out and protecting your viewers. *BIG HUGS* You have my vote, fellow Californian!

[Biggmike]

I agree that +90% of the time this is a scam. However, every financial youtuber lately has been talking about the housing bubble and the housing crash. Say a person bought a house for $200, 000, and now it appraises for $400, 000. They only owe $100, 000. Wouldn't it be a damn near probability that their home. Already will go back down during this upcoming housing bubble in the next 5 years? If that were the scenario, wouldn't this HEI be a pretty good deal, a negative interest rate loan essentially?

[kevinburne]

I honestly dont think this is that bad provided you understand the terms. If you were in a position where you needed a large sum of money asap, but were unable or unwilling to take on debt, this could be a means of getting that money without having to worry about an additional payment you could not afford. Under very specific circumstances this might actually be one of the better options for some people.

[cryptoking-cz]

With interest rates being thru the roof these days i was able to get this share agreement on a property i owned outright, not only was i able to invrease the monthly rents by doing some renovations, i was also able to buy a duplex cash in Oklahoma which i deeded to my trust that also cashflow wonderfully per month. The property i got this agreement on is in Phoenix AZ and i plan to either refinance it in 10 years and oay this off or sell it to lay it off, either way i have the increased appreciation on my duplex on oklahoma as well as positive vashflow on all these properties for the next 10 years, also the duplex can never be touched due to title in trust. This is a win win for me! Also when interest rates go down i can refi the duplex and use that money to purchase more multifamily properties

[sentient_musiq]

I was considering one but knew it was a catch. Ty for posting this!