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Mortgages are great

Discussion in 'BlackHat Lounge' started by Capo Dei Capi, Jan 12, 2016.

  1. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    I don't get why so many people claim that having a mortgage is something bad to have, when it seems like one of the best choices you can make. Just because the majority of persons that get a mortgage do not use it in a way that benefits themselves, doesn't negate the great benefits you can get from having one. By getting a mortgage for a duplex,triplex,or a fourplex you can make a monthly profit over the cost of mortgage+insurance.
     
  2. Ste Fishkin

    Ste Fishkin BANNED BANNED Jr. VIP

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    Well thats 90 seconds of my life gone.
     
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  3. Edu revenue

    Edu revenue Junior Member

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    That title made my day
     
  4. Sherbert Hoover

    Sherbert Hoover Jr. Executive VIP Jr. VIP

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  5. Patel

    Patel Jr. VIP Jr. VIP

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  6. Capo Dei Capi

    Capo Dei Capi BANNED BANNED

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    What does that have to do with a duplex,triplex or a fourplex? Those are examples of bad loans.
     
  7. bigstuffpoppin

    bigstuffpoppin BANNED BANNED

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    I'm making 100000 monkeys in profit every month renting out homes I have mortgages on
     
  8. goldenstate

    goldenstate Newbie

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    Your 100% right! Its called Buy and Hold. Example you can buy a home in prime rental locations like Detroit (good areas) for pennies on the dollar that already have tenants and property management set up. Houses can go for 30-50K with positive cash flow. Meaning after Mortgage, Maintenance, Taxes, Insurance you still are in the positive each month. Your investment is on the 20% down payment in this case $2k-10k. Each month depending on Rate of return you will start to get that back. But the best part and why you get Rich is in 5 years the renters have paid off your mortgage! So now you have at the minimum 30 -50k value PURE equity and your getting a positive cash flow EVERY MONTH on rent say $1000 minus taxes, insurance, property management. KEY to all this is you then take a cashout mortgage on the property because its 100% paid off and go buy 2 more. Multiply your portfolio! Your rich like warren buffet. Best part getting the loan is easy because your dont have to qualify only the property does. Cash flow positive and your approved any day of the week even with bad credit. I do this all day long. Always looking for marketing partners 50/50 splits
     
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    Last edited: Jan 22, 2016