Recently we attended a workshop on how to flip homes and create passive income through residential real-estate. As you know owning rentals is a great way to add to your freedom portfolio of passive income. It was there we connected with Michael Lush, founder of Replace Your Mortgage. We’ve used velocity banking many times in order to pay off debt but what Michael and his team has figured out and created is amazing, plus they stand on the principles of serving and helping people.
The banks make an insane amount of money on amortization loans (mortgage, auto loans, personal loans) as you pay the most interest in the beginning. You may think you’re paying 4% on your mortgage but in reality you are paying 80% or more for the first 5-7 years. It is only if you keep that exact same mortgage for 30 years that you end up paying 4% over the time of the loan. The banks know you will want to trade up or refinance long before that so they make sure you pay the most interest in that first portion of the loan. Well, Michael and his team have figured out a way to beat the banks, and make sure that money that would have gone to the bank, goes into your pocket instead. All without you making extra payments or having to go out and get a second job. It’s pure math, not magic.
Check it out and let us know if you have any questions. If you are not in a great position financially, make sure to grab Camilla’s latest book “How to Convert Money into Freedom” that lays out the Paycheck to Paycheck Method that allows you to gain control of your money so you can start your freedom journey, and then tackle your mortgage or simply learn the method so you can help others.
*The link is an affiliate link. We’ve partnered up with Replace Your Mortgage and Replace University and may receive a commission should you purchase any of their products. As always we are about providing you helpful information and never promote anything that we are not using or doing ourselves. Your success is our success.
