Infinite Banking & HELOC Hacks for Real Estate Investing | Deal Pro Podcast Episode 144
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- Опубликовано: 14 май 2024
- In this Deal Pro podcast episode, Jamel Gibbs talks with experts D'Andre Clayton and Anthony Rushing about how to manage money better and make smarter financial decisions.
D'Andre explains "infinite banking," a strategy to manage and grow your money effectively. Anthony discusses how to use Home Equity Lines of Credit (HELOCs) to quickly pay off mortgages and invest smartly.
Together, they answer viewer questions about investing and financial planning, emphasizing that financial advice should fit individual needs.
This episode is full of useful tips for anyone wanting to enhance their financial understanding and health.
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Also, share and leave a comment below.
Perfect time for me heloc and fix and flip will be my next move
I just did my first HELOC. But for some reason the bank is being so slow at getting my checks and card out to me. I want to use it for other things too. I hope to learn MUCH from you All.
I just got my card yesterday. I'm still waiting on my checks. Learn all you can, learn strategies to maximize your results. Also take advantage of using credit to pay all your bills . That way you can keep your principal down and then pay off at end of the month to lower interest payment. I'm using cards that's giving flyer mileage that way I can travel the world for free. I make my payment s before the interest hits. It's all a game, the better you understand it. The better you play it. Goodluck
@@icon5892great advice
This was a great video! It was an excellent conversation. I loved hearing everyone's perspectives.
Thank you for the great information!
let’s go smash the likes!!
HELOC's seem so confusing. I have my house, which has a mortgage, and I have my mom's house, which is paid off. Should I use my house or the house that is paid off to get a HELOC or does it matter?
Usually, it has to be your main house your living in. Now let's say your house was paid off and your paying down your mom's house. I would still do the first lien and with equity pay off mom's house and continue paying down the heloc. So many different strategies.
Just recently took out a $35k 1st lien interest only HELOC on my paid off condo. The Credit Union required me to take a 1st draw of $25k. Isn’t that essentially the same as a loan payment because the bank gets the interest payments first as well?
My experience as an investor has been rough lately, having to bear significant losses while trading myself.
That means your trying keep at. It's part of the game.
I have a 2.875% interest rate on my 30 yr fixed mortgage. I have about 300k worth of equity in my home. I would love to get that money to payoff my wife and my own debt, and use the rest to invest in real estate. I was thinking second lien heloc, but now I’m unsure if we should just go for the first lien. Thoughts?
I had a 1.75% 15 year, and I gave it up for a first lien heloc. I was able to get back a nice bag of equity that I just left inside to benefit the paying off early mechanism and also wait for some investment opportunities. With my lifestyle of living and not changing one habit, I still pay my house off in 5 years. I would do a Zoom with these guys and run the numbers to see if it's a good fit for you. I did my Zoom with D'Andre and ran the numbers and got a good idea if it's a good product for you.
If I were you I would ABSOLUTELY go for the 1st lien heloc. Provided your credit and cash flow is adequate to make it work.
Anthony, what happens when bank freezes your HELOC and your can't use it at all and you still are responsible for making the monthly interest payment to the bank yhat froze your line of credit. Now what.
There are laws that make it very difficult for a 1st position HELOC to freeze. In fact the time period when many of the 2nd positions HELOCs were freezing during the 2008 crisis 1st position HELOC were still open.