If you want to pay off your mortgage before the scheduled payoff date, what’s the best way to go about it? Should you utilize a HELOC, leverage other debt, or another method? That’s the first question I’m tackling on today’s show.
On today’s Q&A episode, I’m answering listener questions about accelerated mortgage payoff, how to save up for a down payment, and transferring your rental properties into an LLC. You’ll also hear a quick rundown of what’s new in the world of real estate investing. Please join me for episode 725 of Investing in Real Estate!
On this episode you’ll learn:
- How to pay off your mortgage fast.
- The best ways to save up for a down payment.
- How to make sure your business structure is set up correctly.
- And more!
How to Pay Off Your Mortgage Fast
If you want to pay your mortgage off before the expected payoff date, you’re in the right place! A few years ago, Natali and I wrote a book called How to Pay Off Your Mortgage in 5 Years. In the book, you’ll learn about how your financial products work, and how to leverage them to your advantage.
The strategy offered in the book entails using a HELOC in order to slash time and interest rates on your mortgage. You also can use other financial products such as a retirement account to take a swing at your principal balance. I think the book can really help you reach your goals, I hope you’ll check in out on Amazon.
The Best Ways to Save Up for a Down Payment
One great place to park your money is in a high-yield savings account like Outlet. Outlet offers 9% returns and is backed by cryptocurrency. Another option you might want to consider is getting into some smaller investments with high returns in order to save faster.
How to Make Sure Your Business Structure Is Set Up Correctly
When you start taking on complicated parts of investing, like transferring into business entities and 1031 exchanges, you really need to have the right experts on your side. I highly recommend working with the team at Corporate Direct.
Ask Me a Question at morrisinvest.com/clayton
Episode Resources
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TrueBill.com/investing ← Start saving today!
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How to Pay Off Your Mortgage in 5 Years
Infinite Banking Explained with Patrick Donohoe – Episode 613
morrisinvest.com/outlet
morrisinvest.com/llc
Loopholes of Real Estate by Garrett Sutton
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DISCLAIMER: I am not a financial adviser. I only express my opinion based on my experience. Your experience may be different. These videos are for educational and inspirational purposes only. Investing of any kind involves risk. While it is possible to minimize risk, your investments are solely your responsibility. It is imperative that you conduct your own research. There is no guarantee of gains or losses on investments.
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