You made an error on you second example when calculating your cash flow with the home with 100k down. It was 2400/year not 24000/ year. So you anual total is significantly less than paying for a home in cash.
I believe there was a typo in the calculation The Cashflow should have been $2400 not $24 000 annually however his total of $29 400 is correct based on $2400 annual cashflow
Ok so now I know I can buy furniture for my new place using their credit card ( no interest for a year ) and grow my credit score even more 🙏🙋🏼♀️ winning !! I hope ikea has one lol
Thanks for the videos Darren, always very educating! Question, where do I go to find these private lenders? I’m in my late 20s and I want to get into real estate investing.
Thanks! If I take a Heloc on my primary residence and invest in a rental property or JV or Private REIT- are the interest payments on the HELOC tax deductible ?( I am not incorporated).
I have a LLC (oilfield contractor) is it a bad idea to add real estate investing for rental income to it? Or keep it as its own company? Not much liability in my contracting company, just my pickup truck.
You made a massive miscalculation. You stated you’ll make $2,400 per year with a $200 positive cash flow. In your calculation you wrote $24,000, overstating your ROI massively.
Love your work. Just a note: at 5:30 your calc for rental property with 80% mortgage, you have 24k as opposed to 2.4k on screen.
Ahhh, thank you for the correction.
Great explanation using simple numbers. Always like the humour!
Can the first topic mentioned be useful if the mortgage rate is higher like in 2023?
You made an error on you second example when calculating your cash flow with the home with 100k down. It was 2400/year not 24000/ year. So you anual total is significantly less than paying for a home in cash.
I believe there was a typo in the calculation
The Cashflow should have been $2400 not $24 000 annually however his total of $29 400 is correct based on $2400 annual cashflow
All good strategies Darren. I like the HELOC one.
Thanks Ann.
Oh your total was correct, just confused me there.
Ok so now I know I can buy furniture for my new place using their credit card ( no interest for a year ) and grow my credit score even more 🙏🙋🏼♀️ winning !!
I hope ikea has one lol
That's the idea!
Love this
Thank you so much for watching.
Thanks for the videos Darren, always very educating! Question, where do I go to find these private lenders? I’m in my late 20s and I want to get into real estate investing.
👍👍👍
Your Awesome !
Thank you Rita!
where do you find the people willing to pay 12% interest on the loan you give them using your heloc?
Thanks! If I take a Heloc on my primary residence and invest in a rental property or JV or Private REIT- are the interest payments on the HELOC tax deductible ?( I am not incorporated).
Yes. As long as you are investing outside a tax shelter. Like RRSP,TFSA. Keep a paper trail. My CPA does it for me.
I have a LLC (oilfield contractor) is it a bad idea to add real estate investing for rental income to it? Or keep it as its own company? Not much liability in my contracting company, just my pickup truck.
Would love to see this same breakdown but with 2023 interest rates.
Challenge accepted!
I didn't get the math part can you help me understand 12k+24k+15k = 29k ?
Please note at 5:30 minutes of the video it is 2400 not 24000, however, the final answer is correct.
Is the masterclass videos?
Hi Suresh. It's online learning and live coaching. I'm running a promotion until Sept 6th. Message me if you're interested in it.
Mindbuildingsolutions approved!
Excellent content and video.
(Subscribed.)
sound like robert
Darren,
Thank you for all your knowledge
Can’t wait to invest and be financially free one day and live on the beach haha 🏖
That's the dream for many people. Set goals and reverse engineer them. You'll be there in no time.
You made a massive miscalculation. You stated you’ll make $2,400 per year with a $200 positive cash flow. In your calculation you wrote $24,000, overstating your ROI massively.
I'm human. We make mistakes. But I appreciate you letting me know.