Thanks for doing this series. I’m right at the point where I want to start making additional principal payments on my primary residence and I’m feeling that fear.
I hear you, however, my studies have led me to believe it's better to have the property owned, in majority, by the bank. Only and solitarily for the cons who want to fall on your property and take everything. In that scenario, they have to go for the bank vs if you owned it. I'm absolutely new to this, so I'm just seeking knowledge. I appreciate you!
Ah ha, excellent point, we have ways around that as well, it's a super advanced strategy so I don't cover it, but ur right we need protection from creditors.
Good point here, u can get penalized 4 paying off some loans early, but this one didn't have an early payment penalty. So we were goo, u gotta look at the loan docs
@@krishaskins One more thing Kris, as you build equity does that reduce the need for PMI? and at what point [80% or ?] does that happen towards paying off the loan. Or, is that not applicable to your mortgage?
Thanks for the tip! I'm a FIRM believer in "give and it shall be given unto you". I've given my way into a very comfortable financial situation and won't stop here. #Goodstewardgoals
Good , good. I think giving is a bridge one must cross in order to see the real truth in life. I think we're born takers and looking for people to give to us. But once we realize giving is the real way, then we can succeed. I hope more peeps recognize that sooner than later in life. It took me 40 years to figure it out. Thmx
Good point, I've been in debt my entire adult life. it's not cool. So, what I did was pay of my fixed rate 30 year loans, and then use the same houses to secure my private lenders against so I can use the money when I need it for more real estate acquisitions. Kinda the same as refinancing just working w/ private people. It's much easier as I have NO payments...
Thanks for doing this series. I’m right at the point where I want to start making additional principal payments on my primary residence and I’m feeling that fear.
I was on the rollll!!! doing what you mentioned... but then I stopped. I need to get back on IT
This is really good. It's a great way to quickly build equity. Great information. Thank you so much.💯
love your transparency Kris! Will be watching your new series
Nothing but Jewels 💎 in today’s Lecture. Much Gratitude Kris 💪🏼
I hear you, however, my studies have led me to believe it's better to have the property owned, in majority, by the bank. Only and solitarily for the cons who want to fall on your property and take everything. In that scenario, they have to go for the bank vs if you owned it. I'm absolutely new to this, so I'm just seeking knowledge. I appreciate you!
Ah ha, excellent point, we have ways around that as well, it's a super advanced strategy so I don't cover it, but ur right we need protection from creditors.
I love how you think! Just wondering if you are penalized for early pay off of the loan? Thank you for all that you share and teach.
Good point here, u can get penalized 4 paying off some loans early, but this one didn't have an early payment penalty. So we were goo, u gotta look at the loan docs
@@krishaskins One more thing Kris, as you build equity does that reduce the need for PMI? and at what point [80% or ?] does that happen towards paying off the loan. Or, is that not applicable to your mortgage?
Yes, if any loan has PMI, then after u pay it down past 80% of the original loan amount it goes away. Good point
Big broody staying discipline
Thanks for the tip! I'm a FIRM believer in "give and it shall be given unto you". I've given my way into a very comfortable financial situation and won't stop here. #Goodstewardgoals
Good , good. I think giving is a bridge one must cross in order to see the real truth in life. I think we're born takers and looking for people to give to us. But once we realize giving is the real way, then we can succeed. I hope more peeps recognize that sooner than later in life. It took me 40 years to figure it out. Thmx
This is good ... I just bought my 1st multi chris , how is the family ?
CONGRATS, it would be great to have you on the channel to discuss your deal, shoot me an email to set it up, kris@krishaskins.com thnx
@@krishaskins anything for you and Daniel Borrero
Why not refi?
U can get a better interest rate then that
Good point, I've been in debt my entire adult life. it's not cool. So, what I did was pay of my fixed rate 30 year loans, and then use the same houses to secure my private lenders against so I can use the money when I need it for more real estate acquisitions. Kinda the same as refinancing just working w/ private people. It's much easier as I have NO payments...
💯