Using other people's money to acquire assets is an amazing strategy. But to fully enjoy its benefits, you must be aware of all the risks.

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Credit:
Myron Gaines - @unplugfit

SF0242 #realestate #bankloan #assetacquisition #realwealthwisdom #getupleveled
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edwardcollins_upleveled

2024-04-28 07:13:28

there's credit cards out there guys like bank of america for example i know does this you can go ahead get the credit card and transfer the credit card limit over to your checking account and hard cash yes they charge you transaction fee
but it's not that much it's like four percent or so much that
you can go ahead and get like fifty k cash okay you get forty eight k of it because after the transaction fees whatever you get like eighteen months to pay
interest free where you can use that money let's say you take that free dk uses capital invest into real estate property
now you control that asset will none of your own money while simultaneously getting a bank loan
alright you go ahead you take that capital get the loan from the bank and put a down payment on a house buy the house now you control that asset you have eighty must pay it back because remember the house eighteen months is going to be growing up and value you're gonna be collecting cash flow you won't be making money and saving money at the same time while operational you this may be correct the challenge i have with strategies like this is that it does not go into detail enough with regard to risks when you use other people's money there are inherent risks involved especially when you're talking about using it for real estate acquisition not only do you have to contend with things like vacancy rates and maybe challenging tenants you also need to understand that there are surplus expenses that need to be tackled as well things like property taxes insurance maintenance and output so utilizing other people's money as an amazing strategy but you want to make sure you're doing so prudently