Excellent Video‼️🔥💯 Simple explanation of using varies debt tools to leverage your income!! Eliminating BAD DEBT is the first step in wealth creation!! You are a Blessing to His Kingdom and very much appreciated‼️💯❤
Yes indeed! My weak link is my low income, so once I increase my income, I have plans to invest in numerous places to gain an ROI to offset/hedge the interest on my debt. 👍🏼
You are definitely a quality guy. I started using your concept to lower my expenses and save cash. My "vehicle" is a secured personal line of credit as I don't have much cash. I increase the limit with cashflow from time to time. It allows me to save cash that no one can touch other than the lender, being the cash is the collateral for the line of credit. Even though the interest rate is low on the deposit, it offsets the effective rate of the balance borrowed and the rate for borrowing is a lot less on a cash backed loan. I hope to get a HELOC and use it primarily to raise the limit of my secured PLOC in the future. Then put my house in the PLOC, then use the PLOC to acquire rental property, make a little side income and pay the rental off, rinse and repeat. I'm too old for the life insurance investment angle, but while I'm still working and looking to erase my assets into LLC and establish a constant flow that is not "job income", your financial methods are the way to go to get this done.
Thanks for this video. I watched many many of your videos, but this is one of the more vital videos when doing VB and understanding how you teach VB to us.
Another eye opener. I’m struggling to figure this out with just watching the videos. I find that things start to click after I rewind and watch a couple of times. I’m thinking I may be able to do two separate velocity systems, one with my personal earnings from work, the other with rental income to pay off the mortgage faster. On the downside, I wouldn’t be able to deduct mortgage interest. -MM
All depends on what you are trying to solve for in your finances. Do you want to be debt free or do you want to be debt leveraged? Other option is become debt free first then acquire more debt to invest in bigger opportunities by leveraging capital lot of different ways to evaluate velocity banking is flexible don’t limit the concept
Great video. It might be a good idea to create a video with solid examples in the real world that explains in detail how you can create 7 uses out of every dollar by utilizing these devices i.e VB, IB, etc
Hi Denzel, have a $170,000 principal mortgage at 2.875% 2 year with about $55000 of interest. With velocity banking using a HELOC I can pay it off in about 6 years. About 20k per year principal payment and I have cash to deposit in the HELOC consistently. What are your thoughts on this. Your videos are very instructive and helpful in learning how to use your training. Thank you very much!
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The numbers do not lie, I absolutely love that this whole process is data driven and can keep emotions out of it. Thank you Denzel!!!
Math is more important than ideology!!
Love that phrase!
Excellent Video‼️🔥💯 Simple explanation of using varies debt tools to leverage your income!! Eliminating BAD DEBT is the first step in wealth creation!!
You are a Blessing to His Kingdom and very much appreciated‼️💯❤
Yes indeed! My weak link is my low income, so once I increase my income, I have plans to invest in numerous places to gain an ROI to offset/hedge the interest on my debt. 👍🏼
Awesome video, establishing the ranges for the chunk limits and explaining the borrowing costs! Thank you, Denzel.
Love the number breakdown that gets into the details. This helps put flesh on the concept
You are definitely a quality guy. I started using your concept to lower my expenses and save cash. My "vehicle" is a secured personal line of credit as I don't have much cash.
I increase the limit with cashflow from time to time. It allows me to save cash that no one can touch other than the lender, being the cash is the collateral for the line of credit.
Even though the interest rate is low on the deposit, it offsets the effective rate of the balance borrowed and the rate for borrowing is a lot less on a cash backed loan.
I hope to get a HELOC and use it primarily to raise the limit of my secured PLOC in the future.
Then put my house in the PLOC, then use the PLOC to acquire rental property, make a little side income and pay the rental off, rinse and repeat.
I'm too old for the life insurance investment angle, but while I'm still working and looking to erase my assets into LLC and establish a constant flow that is not "job income", your financial methods are the way to go to get this done.
Thanks for this video. I watched many many of your videos, but this is one of the more vital videos when doing VB and understanding how you teach VB to us.
Love the shirt
Get a coach, work with Denzel!
I really want to try this strategy is the most masterful mathematics I ever watch
This is a definite chain-breaker. It’s sinking in 😊.
I am sorry, I meant 20 years with 19 years remaining.
Another eye opener. I’m struggling to figure this out with just watching the videos. I find that things start to click after I rewind and watch a couple of times. I’m thinking I may be able to do two separate velocity systems, one with my personal earnings from work, the other with rental income to pay off the mortgage faster. On the downside, I wouldn’t be able to deduct mortgage interest. -MM
All depends on what you are trying to solve for in your finances. Do you want to be debt free or do you want to be debt leveraged? Other option is become debt free first then acquire more debt to invest in bigger opportunities by leveraging capital lot of different ways to evaluate velocity banking is flexible don’t limit the concept
Great video. It might be a good idea to create a video with solid examples in the real world that explains in detail how you can create 7 uses out of every dollar by utilizing these devices i.e VB, IB, etc
Hi Denzel,
have a $170,000 principal mortgage at 2.875% 2 year with about $55000 of interest. With velocity banking using a HELOC I can pay it off in about 6 years. About 20k per year principal payment and I have cash to deposit in the HELOC consistently. What are your thoughts on this.
Your videos are very instructive and helpful in learning how to use your training.
Thank you very much!
Why 10 days? The effective rate sounds very sweet!
Awesome video
Dr I need help w managing bills brother