Velocity Banking: Pay Down 30 Year Mortgage In 5 Years!

Velocity Banking: Pay Down 30 Year Mortgage In 5 Years!. 5% Down Jumbo Loans with Sherry Hale, Platinum Mortgage

Velocity Banking: Pay Down 30 Year Mortgage In 5 Years! video duration 18 Minute(s) 4 Second(s), published by Conanjay Wallace on 25 04 2017 - 06:33:23.

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Now Transcribed:

S1 00:02 All right, everybody. So in under 20 minutes, I'm going to be showing you how to get 42 rental properties in 10 years, free and clear, all paid for, as well as lower your mortgage dramatically. Ready, set, go. All right. So when we get paid, the average American salary a husband for the wife is $30,000 a year, we're going to go ahead and add that together. That's $60,000 a year. Then we're going to do it in monthly increments, which is $5,000 a month. And when they get paid that $5,000 a month, where do they put it? Inside of the checking account, right? So we have a checking account on this side, the savings account on this side, right? Okay. Well, since that's the case, what happens when we live like that? Do we not have a cash basis that we're living on? And so that's what we're living by. We're living by the cash basis. Now this is what I mean.\r
S1 01:10 When you have a mortgage payment of $1200, you can't touch that mortgage payment for that month. So I mean, if you do, you're not going to be able to pay the mortgage. All right? So let's go over here where the loans are. You have mortgage payment of $1200 a month. You got a $200,000 mortgage at 6%. You also got a couple cars, right? And you're paying $600 a month on them. So we're going to put that right there. We're also going to have the national average credit card liability is $600 a month, and you have $600 a month right there. And you also have some expenses because you have a cell phone, you got that major data plan, you've got food that you got to take care of, maybe want to do some little dining out and all that. So you got $1200 in expenses right here. You have $1400 left. Where do they teach you to put it? Into the savings account, right?\r
S1 02:18 Okay. So you have $1400 into your \