How to Invest in Real Estate using your current home!
Today I'm sharing everything you need to know about making more money using your current home. Helping others build wealth for financial freedom drives and excites me. If you own a home and want to grow your wealth, you should read below. You got this far which tells me you're serious about growing your wealth. First things first, pat yourself on the back for taking the first step at making a difference in yours and your families life! Now, you own a home, but I'm sure you're wondering "Ryan, how can I GROW my wealth by owning a home, without actually selling my home?". Man I thought you'd never ask! Let me show you. As you pay your mortgage down, you begin to build what we call "equity" in your home. Equity, in summary, can be defined and calculated as the Market Value of your home minus any outstanding liens/balances on your home. That difference is called EQUITY! Heres a quick example: Address: 123 Main St. Somewhere, NC Market Value: $400K Remaining Loan balance: $245k Equity: $155k ($400k - $245k) Why is this number important to YOU? IT'S NOT... Unless you learn about the term HELOC (H.ome E.quity L.ine O.f C.redit). Essentially this is a loan that the bank will give you using your estimated homes equity as collateral. Now hold up Ryan, I thought we were talking about GROWING our wealth, not getting into more debt? EXACTLY! Let me show you how you can utilize a HELOC as a tool to GROW your wealth. I, along side of hundreds of successful investors, buy, fix, and flip homes right here in your backyard. As investors grow their operations, one thing they need access to is funds, and lots of them. On a typical deal, we will borrow in the ball park of $300k and payout around $9,000 to the lender in interest alone! These loans are structured to be short term (typically less than a year) with an interest rate anywhere from 9-12%. Now, I'm not asking you to lend us $300k, but it is normal to draw these funds from several investors and pool it together to make the deal work. What if you had access to $50k-$100k through your HELOC at a 5-6% rate, that you could then turn around and lend out to a succesful investment team at a 9-12% rate, and pocket the difference? Growing the money that is currently sitting stagnant in your home! What would that do for you, your family, your retirement, and your legacy? If this interests you, click this link to schedule a call with me or fill out the contact form below and let's discuss in further detail how we can help you grow your wealth, one step at a time! If you have any questions, don't hesitate to contact me directly at 984.377.4229 or email me at rwrealestatenc@gmail.com.
#1 Thing you should know before buying a home.
DO NOT BUY A HOME.... Before you know this one thing. As a full time Realtor in Durham, NC, I work with many buyers looking to purchase their very first home! It's such an exciting experince and is often the start of welath building for many individuals. So many make this common mistake tho... Buying a home with no food in the fridge. Hear me out, how are you going to eat any pickles if there's no pickles in the fridge!? Crazy right!? Follow this blog for more quality content. Love, Ryan.