Old Blog - The Kwak Brothers - Part 23

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Pay Off Your Loan Or Invest? Know What’s Better For You

Time and time again, I see people choosing to focus either a mortgage or an investment but not both at the same time. But which option is better to start with? In this article, I will show you how you can invest AND pay off your mortgage without the diminishing effects of either process. I want to show you that it’s possible to pay off your mortgage and invest simultaneously. More often than not, such a decision often depends on your financial situation. While many people believe that paying off money is best since it saves on your interest payments, others may want to invest their extra

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BREAKING! The Eviction Problem Just Got WORSE 😧

The eviction moratorium has completely expired and the US Supreme Court ruled against the CDC wanting to extend the moratorium. In addition to this, recently the Federal Unemployment Benefit also expired this week and the Biden Administration has no intention of bringing the unemployment benefit back as the economy is starting to open up.  https://www.youtube.com/watch?v=uaTUQruQjKQ In this video, I’m going to unpack what this all means and how real estate investors could potentially benefit from the eviction

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Older Posts

September 1, 2020

Buying Rental Properties – The “NO Credit” Strategy

Buying Rental Properties – The “NO Credit” Strategy! There is this illusion of buying rental properties that you need a large sum of money, your credit needs to be high, or prove to the bank that you have a decent net worth to secure a loan. All of which are true! It would require you to get a job, work for a very long time, build up your credit, and save money up for a down payment, which would take years to do. Another way is to use other people’s money (OPM) for buying rental properties, even that would require you to have assets to prove your worth! BUT thankfully, there are ways around the bank for buying rental properties and it’s been a very powerful strategy for us buying rental properties with NO CREDIT. OWNER FINANCING also known as SELLER FINANCING, it’s where the Owner of the rental property you are buying plays the role of the bank. There are several benefits of owner financing for both buyer and seller when buying rental properties. This way, you don’t have to work a job for several years and save a ridiculous amount of money! (benefits of buying rental properties)… Also if you heard of using other people’s money (opm), you would still need to work with a bank to secure a loan, the bank will still want to see your financials to prove your worthiness of the loan since you are the managing partner making it harder when buying rental properties. A huge benefit of seller financing, as you the buyer, you don’t need that great of a credit score, you have nothing to prove to a bank (again great for buying rental properties). Now you are probably wondering if a bank puts you through underwriting to mitigate the risk of lending to you, wouldn’t a property owner do the same when buying their rental property? Yes, but it doesn’t need to involve your credit! In fact, it would be more enticing for the seller to have some type of collateral if you default. For example, if you defaulted on the loan, the seller could take the property back! Now that’s one major form of collateral when buying rental properties!
September 1, 2020

Velocity Banking vs Sending In Extra Payment | Which Is Better?

Velocity Banking vs Sending in Extra Payment… Which is Better? What does the math say? and How? In this video, we’re going to break down the difference between Velocity Banking Vs Sending In Extra Payment. We’ll talk about how both can save money but we’ll see which one comes out on the top in terms of saving MORE money and time in terms of interest. So let’s do the comparison, Velocity Banking vs. Sending in Extra Payment… Which is Better? Enjoy! FREE Velocity Banking Calculator: https://acceleratedbanking.com Okay, so let’s get to the bottom of Velocity Banking vs Sending In Extra Payment comparison. Which is better… The Velocity Banking Strategy? or simply doing extra payments into the mortgage principal. Well, we can tell you that both can possibly save you some money and time. The velocity banking strategy has many names. We call it “Accelerated Banking” but some people call it the heloc method, heloc strategy, heloc to pay off your mortgage, debt acceleration, mortgage acceleration, or pill method. Let’s dive into how the strategy works… velocity banking strategy explained. The way that the Velocity Banking Strategy works is that we’re changing how our interest is first being calculated. The first main difference between a traditional mortgage and a HELOC is that a HELOC uses simple interest (average daily interest) and a mortgage uses amortized interest (interest accrued based on monthly balance). That’s the first difference when we’re looking at velocity banking vs sending in extra payment. The next big difference is that we’re sending in ALL of our income and savings into the HELOC to lower the average daily balance. Which ultimately means that we’re paying less of interest since the principal balance is lowered. On the flipside, sending in extra payment only causes us to save money by what we actually send in… not by the full income amount. That’s the next big difference when it comes to comparing velocity banking vs. sending in extra payment. A HELOC also allows us to draw the money whenever we want in a matter of seconds. Whereas with a traditional mortgage, we’re unable to do so. This is why we can send in all of our income into the HELOC and still be able to use the HELOC to pay for our expenses and accidentals. That’s HUGE when it comes to the difference between sending in extra payment vs velocity banking. Also with a HELOC, you can almost treat it like a savings account where by parking your excess cash can save you 3-6% interest on the HELOC vs. trying to earn money on a savings account that may pay out 0.5 ~ 1.5% APY. (this is really low). So those are some of the comparisons when it comes to velocity banking vs sending in extra payment. When done right, velocity banking can help you save more money and time when paying off your mortgage faster.
September 1, 2020

How To Pay Off Your Mortgage FAST | SECRET Bank Loophole

How to pay off your mortgage fast without making an extra payment or cutting down your expenses! This is the LATEST version of how I show you, paying off your mortgage, we always are improving our method of paying off mortgages early and in today’s video, I will show you our most up-to-date strategy! Ever wonder how you may be able to pay off your mortgage less than the designated terms of the mortgage (typically 30 years)? Well, depending on your situation, you may be able to pay it off if your serious within 5-8 years without sending double payments to the bank, changing your current level of income, or refinancing? If you want to learn how to pay off your mortgage fast or earlier, I am going to show you a strategy in how you can use a different method/instrument to pay off your mortgage quicker! This strategy is called the “Accelerated Banking” Strategy. This strategy has many other names such as “Velocity Banking”, “Mortgage Acceleration”, “Accelerated Debt Reduction”, “HELOC Strategy”, and more! Download Our FREE HELOC Calculator: Visit https://acceleratedbanking.com When it comes to paying off your mortgage faster, We first need to understand how mortgages work. In this strategy, we are using a Home Equity Line of Credit (HELOC) as a leverage to pay off the mortgage quicker and still maintaining our income and expenses as how they are. You can also use other instruments such as Business Line of Credit, Personal Line of Credit, or Credit Cards for the purpose of this strategy. The beautiful thing about this strategy is that it allows us to take an inefficient debt and convert it over to a much efficient debt. So yes, you CAN use a HELOC to pay off your mortgage faster if you use it the smart way. The emphasis on this strategy is mainly on cash flow and principal balance reduction. The adage strategy of taking the hard-earned money you earn and paying extra toward the principle is an old school strategy. While it works, the Accelerated Banking Strategy is a much more efficient way of paying off an amortized debt because it takes advantage of the maximum income utilization. This strategy will also work on Student loans, car loans, personal loans, and so forth! Don’t let the banks trick you with their amortized products!!! Paying Off Your Mortgage Faster could mean that you can retire faster, invest more, or just create the time freedom to spend your precious time with your family. While there are arguments as to why you shouldn’t pay off your mortgage faster, I ultimately believe it’s up to the persons’ overall financial goals and what they want to achieve. I encourage all homeowners to use this strategy to pay off the mortgage faster so you can enjoy more freedom and build personal wealth.
September 1, 2020

HELOC: SECRET To 0% Interest To Pay Off Mortgage!

HELOC: SECRET STRATEGY To Get 0% Interest To Pay Off Mortgage! 0% HELOC! In this video, I’m going to show you how to take any HELOC and turn it into a 0% if not, close to 0% interest when using it to pay off your mortgage. If you’re looking into using a HELOC to pay off your mortgage faster, well.. I’m going to show you how to turn your HELOC into 0% interest throughout this video. And if you didn’t know that you can use a HELOC to pay off your mortgage faster, well… You should check out a video where I explained the entire strategy where not only can you pay off your mortgage faster and potentially save a boatload of interest… but it can actually help you protect your income during the recession. I’ll leave that video link right here: https://youtu.be/3f-ebCjeH8o Okay so! I’m going to show you how to turn a HELOC into 0% interest. This is something that many of our clients of the Kwak Brothers are using and I want to give you a little taste of the action. For the premise of this tactic, we’re working with a 2nd lien HELOC for paying off your mortgage. The downside to doing this tactic is that it takes an incredible amount of work and energy to pay attention to what’s going on. Secondly, 2nd lien HELOCs are harder to get approved these days due to the pandemic that we’re dealing with but as the economy draws back to being somewhat normal, it should get easier. You can actually do the same tactic with a 1st lien HELOC where your HELOC is essentially the only loan on the property. Of course, for that… you need to be our client 😉 Btw, if you want to download our FREE Calculator on what it’s like to use a HELOC to pay off your mortgage faster – how much money and time you can potentially save using this method. Link: www.chopmymortgage.com
September 1, 2020

Episode 19: Dissecting the 2020 Economic Crisis with Dave Seymour and Kevin Tuttle

In this episode Daniel brings back Dave Seymour from A&E’s “Flipping Boston” and Kevin Tuttle, who spent over 20 years in the hedge fund space and real estate investing to discuss the current housing market and looming economic crisis. Dave & Kevin provide some very valuable insight and information in regards to the housing market, US economy, and how to survive a housing market crash with experience from being part of a market correction in 2008.