How Debt Gives Me $50K Tax-Free 💸

[LegacyInvestingShow]

This is a smart way to buy properties that pay themselves off and produce cash flow.

By doing a cash-out refinance, you’re replacing your current mortgage with a larger one…

But you receive the difference in tax-free cash that’s yours.

Your property is still paying off the debt and you have a nice sum of money to do whatever you want.

If you want to learn all things finance and real estate, make sure you follow me.

[xxphillipsxx]

Oh and don’t forget about the 10k plus in closing costs that you will lose when refinancing

[kleinepatrick]

Where the hell can you find someone paying 1500 rent a month for a 150k property lol

[xxphillipsxx]

And now instead of owing 120k you owe 170k smart

[mothmanmothman]

Hmm. I'll pass. I'll walk up to a house and pay cash. Then every dime I get from a tenant will go straight in my pocket.

[yoo]

Don't count you interest remaining for existing loan

[NotAShawn]

Trade 100k+ of debt and multiple years of time and payments for more than 200k of debt only to have net 50 grand on credit technically and still have a person living in your house that you bought for yourself only to pay another additional mortgage and this assume your tenant is on time andin full every month....at 1650 a month? This also neglects the time to improve you credit to 700 before this whole fiasco.... Ill pass
Oh and this also assume the market and interest stays the same😅

[druandaru]

With that 50000 dollars you can put it as a down payment on another property if you have a 9-5 and if it is less than that 50k you can play with that money however you like

[NSWvet]

Cash out refinance sucks. You can be screwed if interest rates are high. This is stupid

[wealththruturnkeyrealestate]

Could also just invest in low-capital entry, high ROI, non-syndication turnkey multifamily real estate that will provide significant monthly passive income and equity. Life changing!

[avinn]

To think you can buy house in 150k in syd ey australia.😮

[RafiedHashim]

How will your 150k house become 250 ina few years 😅😅 what you mean by a few years 😅😅😅