Don't Use A HELOC to Invest in Real Estate?

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  • Опубликовано: 29 сен 2024
  • Recently, someone said, 'Don't Use A HELOC to Invest in Real Estate' in the comments section on my RUclips page. This comment was in reference to a podcast episode that I did with Anthony Rushing. So I've decided to get Anthony back on the podcast in order to address this comment, as well as several others regarding HELOCs. Check it out!
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    #howtopayoffdebt #heloc #jamelgibbs #firstlienheloc #realestate #investing #payoffmortgage

Комментарии • 28

  • @jamelgibbs
    @jamelgibbs  11 месяцев назад +1

    ↓Subscribe for more real estate investing tips↓
    reieducationacademy.com/RUclips-Subscribe
    Also, share and leave a comment below.

  • @dandreclayton7936
    @dandreclayton7936 11 месяцев назад +7

    I absolutely loved this discussion, I haven't met a loan officer yet more honest than Anthony that why I use him so frequently to help my clients. Good stuff here you guys!!

    • @AnthonyRushing-q1j
      @AnthonyRushing-q1j 11 месяцев назад

      @deandreclayton7936 - Thanks for the compliment & shout-out Deandre!!!

    • @samsonswaroop
      @samsonswaroop 6 месяцев назад

      I couldn’t agree more! I actually spoke with Anthony for a first lien HELOC but given where I am with my debt profile it would not make sense and Anthony was upfront about it!

  • @cityoflove85
    @cityoflove85 11 месяцев назад +3

    I think this is a great option for a flip if you are wise with your approach and plan well. I would not recommend doing this for home improvement or to pay off bills though. This line of credit is good for renunue producing ventures to MAKE money ONLY in my opinion. I used to think this was a terrible idea as well until I was educated more about it. It is all serious business though so every needs to be intentional with any loan they choose.

  • @RH-xp7xu
    @RH-xp7xu Месяц назад +1

    I’ve just recently started watching your videos. Although your information is all new to me, I see the value in these different strategies and vehicles.

  • @Sublimialshift
    @Sublimialshift 11 месяцев назад +1

    Thanks for the info sir

  • @ceasarcarcus391
    @ceasarcarcus391 7 месяцев назад +1

    I listened to this for 10 mins, started over then realized there was no good explanation to provide understanding in layman's terms. I had to go to Bing to ask ¹what is a HELOC and when is a good scenario in which to use it.

    • @revivecleaning399
      @revivecleaning399 7 месяцев назад +1

      A good place to start is understanding velocity banking.

  • @alfredoalfonso5342
    @alfredoalfonso5342 22 часа назад

    I have seen the video and I believe is great, a lot of new information, I have a very low APR in my mortgage, 2.875 and if I get a heloc right now would be around 9% interest rate, do you think I still can use the heloc to pay my house faster and paying less interest?

  • @WayneHill-q8v
    @WayneHill-q8v 3 месяца назад

    I have a Heloc but wondered if you lock the rate on a Heloc does it change from simple interest to amortized? Is it best to leave it unlocked and just hope that prime doesn't continue to rise?

  • @doublevillageman
    @doublevillageman 3 месяца назад

    Hi Do you use people good credit score to apply loan for investment property. Or recommend me who does.

  • @blackson4546
    @blackson4546 11 месяцев назад +3

    GREAT CONTENT!!! The thing that struct a nerve with me is what Mr. Gibbs said, "You put your money into a mortgage, and if you want to get it back you have to pay 10k" 🤯

  • @sanobiahill1
    @sanobiahill1 2 месяца назад

    Could I just do the same thing with my credit card?

  • @MarR4547-h5j
    @MarR4547-h5j 11 месяцев назад +2

    Great information… Thank you both … my question is My parents want to deed me their house .. we in the process of remodeling their house… what would be the steps to use the value of the house since there is no mortgage on it?

  • @RomilioFlores
    @RomilioFlores 4 месяца назад

    Open a 2nd position Heloc for emergencies and make extra payments to your higher interest rate. My mortgage 3.375%, car loan 6.49%, heloc 8.75% with $0 balance($57K limit). I’m paying off my car loan making extra payments, but I have the heloc for emergencies. Then, I will pay off my house. I will never touch my heloc if I don’t need it.

  • @ty6390
    @ty6390 11 месяцев назад +2

    Should i use a HELOC to fund a whole life insurance policy?

    • @iramcc409
      @iramcc409 11 месяцев назад +1

      Interesting question. You should Jamel Gibbs's video on infinite banking. In it they discuss funding life insurance.

  • @tonysparks6356
    @tonysparks6356 7 месяцев назад

    Great info. I need help 55years old free an clear property in bk. Would like to purchase another house what is the the best way. Thx

  • @awakeninvestment
    @awakeninvestment 8 месяцев назад

    What about new homebuyers how could they buy utilizing HELOC?

  • @awakeninvestment
    @awakeninvestment 8 месяцев назад

    Could a business bond be set in place in case homeowner gets sick or accident and be out of work several months?

  • @iramcc409
    @iramcc409 11 месяцев назад

    This was a great video. I liked the way you both addressed the "naysayers" and popular questions.

    • @AnthonyRushing-q1j
      @AnthonyRushing-q1j 11 месяцев назад

      @iramcc409 - Thank you!! Usually the objections we get are simply from gaps in understanding or assumptions that are made about it that aren't true. We thought it would be helpful to name those things and fill in any gaps that may be there.
      -Anthony Rushing

  • @zulya98
    @zulya98 7 месяцев назад

    Why he even pretend to listen if he keep checking something on his side, what is it??? Total disrespect

    • @jamelgibbs
      @jamelgibbs  7 месяцев назад +4

      It’s called taking notes. It’s shows that you’re paying attention when you’re writing stuff down. The opposite of disrespect.
      The guest is giving you the game, not the host. Pay attention to the guest, not what the host is doing.

    • @mikeb.3189
      @mikeb.3189 7 месяцев назад +2

      @@jamelgibbs And ppl like them wonder why they never succeed, so narrow minded, looking for problems instead of seeking solutions 🤦🏽‍♂️

  • @sheniqueroute5383
    @sheniqueroute5383 Месяц назад

    I came across your channel and I have been hooked since. I listen to your different pod cast sometimes over and over on my morning walk. I am learning a ton. This is definitely helping me to make a more informed financial decisions. Many Thanks for the content. I never even knew there was a such thing as a 1st lien Heloc.