Today we got a special guest.

We are going to learn about first position helocks. And no, we're not talking about second position that people usually get once they have some equity. We're talking about how you can get a first position helock on your property and how it actually is way more beneficial than a traditional 30-year mortgage or a 15-year mortgage or anything else. And we've got the expert teaching us how to do that. We've got Tyler Hennessy. What's up, bro? What's up?

What is?

Then we got my bald co teaching us how to do that.

We've got Tyler Hennessy.

What's up? Then we got my bald co-host, Brian DeVilla. What up? I'm excited to learn. Yeah. Let's do it. He was trying to tell you about it at church the other time he was here and you couldn't understand it. Yeah. Yeah. We're going to dump it down. The 60 second pitch, I'm like, this is not, this is not going to go, well.

Well, let's see how it goes in 60 minutes.

Yeah, there we go.

There we go.

So, dude. It's a 60 second pitch. I'm like, this is not, this is not going to go well. well let's see how it goes in 60 minutes yeah there we go there we go so dude what the heck is the first position he lock because I remember we were on an M19 trip and we were we were riding back where were we Kiwa Island that was a I think that I don't remember Cabo or Kiwa Kaabaar Kiwa. And you were telling me about it.

And I was like, yeah, I get it.

A helok.

A helok. It's fine. And you're like, no, no. It's not like your normal helok. This is different when it's in first position. Like people will refinance their normal mortgage, which is like a 30 year into a first position helock. and you start making way more principal paydown with this method

versus the typical amortization schedule. So, like, explain to me how this works.

Okay, well, there's a lot to unfold, but we'll try to make this as simple as possible.

But basically, starting with the context that what you just said, when you see the word

he-lock in Vegas, you know, on a billboard, or at a bank or in Texas where I live, 99% of them are second position helix. That's what helix were intended for originally, right? Yeah. You guys are real estate guys. You get mortgage on a home. You get a second lien helic. Why do most people get a second lien helic? or remodeling in the kitchen, maybe cash to go buy something they don't need to buy,

consumer debt, things that I don't personally agree with. Well, you hear a lot on YouTube and social media people will use that what's called Velocity banking or chunking method. So they'll have a first position mortgage and they'll chunk it down to try to accelerate paying it off. Okay. And then they'll live out of that. That's a method out there that does work. Because most people, if they haven't heard of it, they don't think it works. What I teach and what I was taught that's changed my life a ton was the first position Helock. So those who don't know, Helock stands for home equity line of credit. Mm-hmm. You know, you can just tap into it. You can pay it down, you know, keep it going. You know, you have more flexibility than a 30-year loan where it's just a fixed payment. Correct. And then the first thing that starts happening, and I want to say it's from a positive standpoint, but people start throwing all the stones of things that they've heard from a second position of helot. So we sure we're talking about the same thing if we're gonna have a discussion or even our argument we gotta make sure we're talking about the same thing so if everyone's talking about a second position he lock and i'm talking about a first position he lock we got to make sure that we're what we're talking about so inside my community in my company we only strategize with the first position he lock meaning there is no more mortgage so

there's no more like it's In my community, in my company, we only strategize with a first position helock, meaning there

is no more mortgage.

So there's no more, like if you had $400,000 of debt on your mortgage and we refinanced

it into a first position helot, now you have a $400,000 debt and a new vehicle.

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