WIP 582: Smart Decision or Huge Mistake - Should You Pay Off Your Mortgage?
Wholesaling Inc with Brent Daniels
Find distressed properties for pennies on the dollar and turn them for huge profits!
4.9 • 1.4K Ratings
🗓️ 17 December 2020
⏱️ 11 minutes
🧾️ Download transcript
Summary
In the United States, mortgages are the most common type of personal debt. Depending on the type of mortgage, you’ll generally finance at least 80% of the home price.
However, the total cost of the mortgage is more than the actual price tag. It will also include the interest you’ll be paying on the loan. That said, would it make sense to pay off your mortgage?
In this episode, Mr. TTP himself, Brent Daniels tackled the pros and cons of paying your mortgage. If you can’t decide if paying your mortgage is a good idea, this episode should make the decision-making process easy for you!
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Transcript
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| 0:00.0 | You're listening to Wholeselling Inc. episode number 582. |
| 0:04.7 | Number three is summed up very easily right here. |
| 0:07.6 | Proverse 227, okay? |
| 0:10.9 | The rich rule over the poor and the borrower is a slave to the lender. |
| 0:16.4 | I mean it's right there. It's black and white. It's so simple. Think about how |
| 0:20.8 | free you're going to feel when you don't have the burden of death. |
| 0:25.0 | This is game-changing information, guaranteed to raise your real estate wholesaling business |
| 0:30.6 | with actionable steps you can take immediately to navigate the ins and |
| 0:34.6 | out of wholesaling and start making money today. Join us as we put our guests in the |
| 0:40.0 | hot seat and dive deep to dissect their strategies for success to enable you to |
| 0:44.6 | duplicate their results. You're listening to Wholesailing Inc. the only show |
| 0:49.2 | dedicated to making you a fortune in wholesaling. Should I pay off my mortgage early? |
| 0:59.1 | Break down the pros and the cons of paying off your mortgage. |
| 1:04.1 | Number one, you own your house. |
| 1:07.0 | You own your house to be free and clear. |
| 1:10.1 | Now, let's be honest, if you have a mortgage on your property you are absolutely |
| 1:15.5 | that is financial slavery to the bank you part of your income every single year |
| 1:20.8 | goes towards that interest payment. |
| 1:23.5 | Interest, not the equity of your house. |
| 1:25.6 | It goes to the bank making more money off of you working every day. |
| 1:30.0 | You work from like what, January to March to April to whatever depending on how big |
| 1:34.9 | your your mortgage is just for the bank's interest payment think about it and |
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