High Net Worth? No credit check investing and growth ...
For all of my high net worth folks, if you’ve not figured this out already listen up. To make purchases without consulting credit take a line of credit out leveraged against all of your assets (*hint: include your whole, universal life, and single premium policies by making asignments of the face value death benefit – itll get ya into the “big league” numbers), make a hell of a deal offering to pay “in cash” after the deal refi with a mortgage and get every penny back. Your new home or asset will be the collateral for the new loan or mortgage. You walk in with way more equity every time ….
Example. You want a home, it appraises at $1.75M, it’s selling for $1.5M. You leverage your free assets, get a line of credit, use it to cut a check for the property on an offer to buy at say $1.15M – $1.3M. You walk away with $.45M – $.6M [that’s $450k – $600k] in equity. You refi the full appraisal value and get $450k – $600k at the closing.
At 6.5% that’s a Monthly payment: $8,216.88.
$8216.88×12 = $98,602.56 (less than $100k)
$8216.88 x 24 (2 yrs) = 197,205.12 (less than $200k)
For roughly 2 years you could finance your mortgage and incidentals including furnishing the home with the money you take back at the refi closing.
In 2 years the home reappraises at more than what was paid you keep what you have not spent from the refi and the amount that you make on the sale (let’s say it reappraisal at $2M or $2.15M you walk with$.25M – $.4M ($250k – $400k).
So for 2 years it paid for itself. And you profited then you sold it and profited. If you repeat this with the same or similar results for 2 decades you avoid taxes by taking advantage of the sheltering of your gains as equity and debt and you make/keep/bank about roughly $2.5M – $4M after all other bs if your smart with your expenses and don’t go to crazy on luxury items. Basically you’ll live and die a millionaire even if you’re faking it when u start.
By the way. The formula is NOT theoretical. If you need the list of lenders inbox me, if you need lenders who will let you buy with with your trusts lease as proof of income ask.