How to Double Your Money in a Year
If you could double $1,000 every year for 10 years, you’d be a millionaire. Doubling your money in a year is something that sounds easy when you say it out loud, but when you realize that this means you would have to get a 100% return on your money it doesn’t sound as easy. If you put your money in the stock market, you’ll be lucky to get 20% on that investment in a year. So how on Earth could a person invest their money and have a pretty high confidence that they’ll double their money in a year or less? I’m in the process of attempting to double a $100,000 investment and I’ll tell you exactly how I plan to do it in about 9 months. Plus I’ve got a few other ideas to share with you. These aren’t…
How To Use Leverage To Build Wealth
I majored in physics in college. When I think of leverage in the context of the physical world, I think of turning a small force into a bigger force, typically using a “lever”. With the right lever, you can lift something 10 times your own weight, like this: In the world of money, we also have access to a lever. This lever allows us to buy an asset worth 10 times more than the amount of money we have to invest. This lever is called a loan. The Basic Idea Of Money Leverage Many non-investors around the world leverage their money to buy a home. You can buy a $200,000 home for $20,000 (or less). That’s leverage with money: using a small amount of your own money to purchase something much more expensive. In this scenario, the cost of getting…
Alternative Ways To Get Equity Out Of Your Home
There are three alternative ways I've found to access your home equity: secured loans, shared appreciation agreements and reverse mortgages.
Debt To Income Ratio For SBA Loans
On average, lenders want to see applicants have a 40% (or less) debt to income ratio in order to qualify for an SBA loan, but many other factors are considered as well.
50 Ways To Get The Financing To Invest
Today I'm unpacking my tool belt of of creative financing strategies I use to make my money go even farther when I purchase investments.
Sources Of Risk In Investment – No One Is Safe!
There are sources of risk in every investment, and millions of people around the world are completely unaware of those risks.
1031 Exchange Example With Boot
Boot is defined as anything in the 1031 exchange that is not like-kind property. We'll take a look at some examples of cash boot and mortgage boot.
Using A Credit Card As An Emergency Fund
Only those in certain situations should consider using a credit card as an emergency fund. If you happen to be one of those unique few, then you should still think through your doomsday situation and have a game plan.
Michael’s Investment Philosophy 2020
My investing philosophy in 2020 boils down to this: set specific goals, purchase assets, manage spending, and use the power of leverage!
Should I Consolidate My Loans? An Investor’s View.
You can consolidate your loans to reduce the amount you pay in interest, or you can opt to lower your monthly payment. If you ask a personal finance expert, they'll tell you to pay as little as you can on the loan by going for a lower interest rate and/or a shorter loan term. As an investor, I often opt to minimize my monthly payment so I can reinvest the savings and maximize my earning potential!
Claim Financial Freedom With Cash Flowing Assets