Magic Trick to Leverage Debt and Create Wealth With Real Estate
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The speaker presents a strategy for filling up an empty bank account without using any of one's own money. The strategy involves borrowing money from a private lender to purchase and fix up a distressed property. Once the property is fixed up, the speaker suggests taking it to a small local bank, which will write a check for up to eighty percent of the appraised value of the fixed up property. This money can be used to pay back the private lender plus interest. The property can then be rented out, and the rent payments can be used to pay back the bank every month. Eventually, the bank will be paid off like a mortgage, but the bank account will be filling up without using any of one's own money.
The speaker presents a strategy for filling up an empty bank account without using any of one's own