Using Debt #shorts

How to use debt to acquire real estate?
Watch this to know how!
#investment #finance #realwealthwisdom #realwealthprofit #getupleveled

credit:
Preston Seo - @thelegacyinvestingshow

SF0113

If you're like me, you're always looking for ways to grow your business—but what if I told you there was one thing that could help you get to your next level?

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[tonyla]

Best case scenario presented as the normal case scenario

[salli]

Bro couldn't stop smiling when he heard raising rent.

[nimesh]

He forgot to say hello to
1. Interest
2. Increased interest from Floating rates
3. Property tax
4. Maintenance charges and repairs

And this is just a realistic scenario and not counting unlikely events like natural calamity, pandemic, civil unrest, etc.

Rich will not only buy houses but similar conditions apply everywhere.

To make money, you need idea, a plan and the risk appetite to walk the path.

[linkiny]

This doubled my 10% rent and gave it to the next tenant.

[alananderson]

Take note that if your renter misses one payment, or moves out and it take a month for you to get a new tenant that you are down 5 months of your margin. This is a great way to go broke. These people get their money from conning you not taking these risks themselves.

[Drake-jqfd]

Nobody talks about the risk involved in this. When the home has a bad tenant, or the roof needs replaced, new heater, new ac unit, flooring needs redone, appliance issues, maintenance tickets, or when the bank sees you “cash out refinance” which just leverages you even further and turns your 20% down into 10%, then the bank calls you on your note during a recession. So many factors have to work out favorable for this to be a profitable method.

[josephfeore]

Heard countless people tell this method online but the problem most people can’t afford a down payment on a house because the economy is so f*cking terrible.

[mclaren]

So this is the guy telling my land lord to raise rent every month!! God bless you! My neighbors are begging for food for their children! Thanks! What a blessing!

[juanrengifo]

Bro stopped giving mistery boxes and 20 dollar bills, now it’s giving financial advices

[xx-osyu]

It needs to be taught in schools that debt isn’t free and needs to be repaid in addition to interest. And that 2$ rent remaining needs to be taxed as income.

[nunyabidness]

I once met a guy working in a laundromat who told me he once leveraged into owning 21 rental properties but made the mistake of not consolidating his gains. Once the market tanked no bank would refinance him and he lost all 21 of them. It is better to own 1 rental property clear than have 5 with mortgages.

[toughbiblepassages]

“debt isn’t taxed”
interest: am i joke to you?

[vaibhavagarwal]

As a 5 yr old, I can confirm I understood everything he said.

[HeyEveryoneHi]

It's really easy to talk and act experienced

[jonathanrisoldi]

A government official just heard, "Debt isn't taxed." and is now drafting a new bill to tax it.

[rlr]

I love how he is so confident about increasing the he rent every year

[gustavocabarcas]

This is nearly correct, except that “your mom” will not give you $120. She will only give you $40 because she takes the money upfront to pay the existing loan. It's also worth noting that utilizing this strategy may be challenging today, as your mortgage likely had an initial interest rate of 3%, and refinancing at 6.5% could eat your cash flow.

[ryan]

Everything I’ve had to have replace in the past 2.5 years of renting out my townhouse. Fortunately my tenant pays on time and in full, but I know it can be very different for others.

A/C - $4500
Dishwasher - $350
Refrigerator - $680

Repair
Private road in front of driveway had potholes - $500 & $350
Toilet - $140
Dryer - $200

I spent another $800 building two new outdoor decks on the house just before we moved out and started renting it too.

And the property taxes go up every year too sooo yeah… you better believe rent is going up

[tedd]

This information would have been really useful to me 30 years ago!

[TheEggroll]

Gotta mention that 40 dollars tax free needs to be payed back with interest