How To Pull Equity Out Of Your Home and Put It Into an Investment Property in 5 Steps

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  • čas přidán 21. 08. 2024
  • If you owned a House before the pandemic you are probably up a lot of Equity. And you can use that to invest in more property. I'll show you 5 simple steps to start using your equity to build a better retirement for you and your family.
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    Kris Krohn is not in the business of providing personal, financial or investment advice and specifically disclaims any liability, loss or risk, which is incurred as a consequence, either directly or indirectly, by the use of any of the information contained in this document. If legal advice or other expert assistance is required, the services of competent, licensed and certified professionals should be sought. In addition, Kris Krohn does not endorse ANY specific investments, investment strategies, advisors, or financial service firms.
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Komentáře • 103

  • @annelie718
    @annelie718 Před 2 měsíci +78

    I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k,but guess what? I put it all back and traded again and now I am rounding up close to a million

    • @keithcarvey48
      @keithcarvey48 Před 2 měsíci

      You work for 42yrs to have $2m in your retirement, Meanwhile some people are putting just $20k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life

    • @saniusman5830
      @saniusman5830 Před 2 měsíci

      Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $42,500 per week even though I barely trade myself.

    • @kelvinolad3382
      @kelvinolad3382 Před 2 měsíci

      I'm favoured financially, Thank you Jesus $36,000 weekly profit regardless of how bad it gets on the economy.

    • @francisonyige9618
      @francisonyige9618 Před 2 měsíci

      How
      ..? Am a newbie in crypto investment, please can you guide me through on how you made profit?

    • @PranatiSahoo-yg3gp
      @PranatiSahoo-yg3gp Před 2 měsíci

      Thanks to Mrs Maria Davis.

  • @BraddPaisley
    @BraddPaisley Před 2 měsíci +101

    As we witness the current economic landscape, it's becoming increasingly clear that we're entering a recession. These times can pose significant financial challenges.

    • @BarbaraPearson55
      @BarbaraPearson55 Před 2 měsíci

      Yeah, it's a real struggle. With the rising housing prices and stagnant wages, it's becoming increasingly difficult for many to afford homes, let alone save for retirement.

    • @ZhannaDavidova
      @ZhannaDavidova Před 2 měsíci

      Absolutely. And with the fear of not being able to retire comfortably, people might be tempted to make risky investments or neglect proper financial planning, which could spell trouble for their portfolios in the long run.

    • @cherylhills3227
      @cherylhills3227 Před 2 měsíci

      Indeed, Recessions have a way of affecting people's financial stability and investment portfolios in profound ways.

    • @sebastiaanthijn7982
      @sebastiaanthijn7982 Před 2 měsíci

      It's crucial for individuals to diversify their portfolios, seek professional financial advice, and stay informed about market trends to navigate these challenges effectively.

    • @rodgertim2881
      @rodgertim2881 Před 2 měsíci

      How do I find a good finance advisor? How do you know if they are trustworthy and competent.

  • @emilydonna1
    @emilydonna1 Před 2 měsíci +77

    I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?

    • @Joegolberg1
      @Joegolberg1 Před 2 měsíci +1

      Buying a stock is easy, but buying the right stock without a time-tested strategy is incredibly hard. hence I will suggest you get yourself a financial-Advisor that can provide you with entry and exit points on best stocks to buy now or put on a watchlist.

    • @Janipherlawsonkt8xi
      @Janipherlawsonkt8xi Před 2 měsíci +1

      A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

    • @emilydonna1
      @emilydonna1 Před 2 měsíci

      How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances

    • @Joegolberg1
      @Joegolberg1 Před 2 měsíci

      Walter James Henry is the licensed fiduciary I use.

    • @Joegolberg1
      @Joegolberg1 Před 2 měsíci

      HE'S MOSTLY ON TELEGRAMS, USING THE USERNAME...

  • @michellezatizabal2294
    @michellezatizabal2294 Před měsícem

    i agree with you! I always disagreed with Dave Ramsey, because then you ALSO loose your tax write off

  • @brianmuuka1303
    @brianmuuka1303 Před 2 měsíci +1

    What do you do if your house has equity but your income cannot allow you to access it because you are already at max with an existing loan?

  • @BigRigsLongWeekend
    @BigRigsLongWeekend Před měsícem

    I have learned a lot from you. Thank you for your wisdom.

  • @susanaquino9049
    @susanaquino9049 Před 2 měsíci +3

    Kris Krohn's the real deal, but he never mentions the added bill you have to pay off the heloc.

  • @rene6351
    @rene6351 Před 2 měsíci

    You have no idea how much I regret not buying properties before COVID.

  • @bl00dyVampireStar
    @bl00dyVampireStar Před 2 dny

    What if a person just bought their first house. How long should that person what until it’s good time to take out there house equity.

  • @fabiansolorzano9929
    @fabiansolorzano9929 Před 2 měsíci +1

    Can you do a quick video on Rate and Term Refinance. Please, sounds important.

  • @irainkoolaidTTV
    @irainkoolaidTTV Před 2 měsíci +2

    been workin on a heloc this past month, sheesh its so annoying when you already own many other properties....also the rates suck nowadays AND not a single bank will heloc an investment property :(

  • @tinybug23
    @tinybug23 Před 15 dny

    If you pay your house off you can still get a HELOC correct??

  • @apis2170
    @apis2170 Před měsícem

    Thanks so much

  • @Landoftherisingsun777

    Correction equity is what you receive cash in your pocket after closing cost 😊

  • @SterlingGroundworks
    @SterlingGroundworks Před měsícem

    Can you pull equity from a property that is paid for. I own 4 acers and building a tiny house out of pocket. I’ll have a lot of equity in the house and property but can I even use it?

  • @ann-ie4hc
    @ann-ie4hc Před 2 měsíci +13

    How do most of you guys still make profit, even with the downturn of the economy and ever increasing life standards

    • @SC-4rqub
      @SC-4rqub Před 2 měsíci +1

      Well, I picked the challenge to put my finances in order. Then I invested in cryptocurrency, stocks, through the assistance of my discretionary fund manager

    • @SC-4rqub
      @SC-4rqub Před 2 měsíci +1

      Mrs Nancy Williams Laplace

    • @-vv3rv
      @-vv3rv Před 2 měsíci

      This is correct, Nancy's strategy has normalized winning trades for me also and it’s a huge milestone for me looking back to how it all started..

    • @gaspardfigueroa
      @gaspardfigueroa Před 2 měsíci

      The first step to successful investment is figuring your goals and risk tolerance either on your own or with the help of a financial professional but it's very advisable you make use of professional

    • @MDX-ps1dx
      @MDX-ps1dx Před 2 měsíci

      Nancy is considered a key Crypto Strategist with one of the best copy Trading Portfolios and also very active in the cryptocurrency space.

  • @visionlawncaresnowplowinc.4789

    I’d love some guidance on this. I have a lot of equity but not to sure how to use it so it makes me more money

  • @Jesus-nh4ny
    @Jesus-nh4ny Před 2 měsíci +1

    what do you do with the leftover line of credit? in this videos you used at total of 40k on a line of credit as an example lets say you found an investment property that was 23k all in what woild you do with the leftover 17k? try to re invest the rest or do something else with it? or are we capable of putting that equity back into our original property obviously try to invest it but what if you are starting off and can only handle one investment property at a time?

    • @andreskougl
      @andreskougl Před 2 měsíci

      It's a revolving credit line, like a credit card. You're approved to take out up to $40k but you don't have to. You only pay interest on the $23k in your example. My HELOC's variable interest rate is 8.5% so with $23k outstanding that's a monthly interest only payment of $166. If your proceeds from the investment are making you more than that a month then you are earning cashflow.

    • @Jesus-nh4ny
      @Jesus-nh4ny Před 2 měsíci +1

      @@andreskougl the cash flow coming in would need to cover the heloc and the new mortgage correct?

    • @andreskougl
      @andreskougl Před 2 měsíci

      @@Jesus-nh4ny At a minimum. Obviously you want to be making profit on top of that and you need adequate reserves to make any necessary repairs as they come up.

  • @adaptedperspective
    @adaptedperspective Před 2 měsíci

    Kris, when taking equity out, the risk is paying it back [home loan or heloc] or refinancing at a higher rate and paying the new mortgage. I have zero desire to refi my sub-3% rate; that leaves a home loan or heloc to buy an almost lease-ready property. In the 6% rate territory, how are you paying back the pick-your-loan-option? I like the home loan's steady rate, but it still comes down to using that new investment property's CashFlow to offset the loan. How? It doesn't seem possible.

    • @fernandobelmont5831
      @fernandobelmont5831 Před 2 měsíci

      It’s all about opportunity cost, will the new investment be worth the higher interest rate? In most instances I’d say yes

  • @cesars8137
    @cesars8137 Před 2 měsíci +1

    Helocs are not free!

  • @monkmysterio
    @monkmysterio Před 2 měsíci +2

    We want an Undercover Billionaire episode with you!

  • @markhope1998
    @markhope1998 Před 2 měsíci

    How much does partnering with you cost?

    • @crosscultureunited7817
      @crosscultureunited7817 Před 2 měsíci +2

      Don’t do it. I love his videos but I don’t think that’s a good idea

    • @markhope1998
      @markhope1998 Před 2 měsíci

      @@crosscultureunited7817 I think I already have an idea. I’m just wondering if he’ll respond. I doubt he will. I inquired about it a few years ago and one of his salesmen wanted me to pay about $40k, in addition to the cost of the property. I said I thought that was RIDICULOUS.

    • @austinfelts845
      @austinfelts845 Před 2 měsíci

      35k I believe

    • @crosscultureunited7817
      @crosscultureunited7817 Před 2 měsíci +1

      10k just for him and you need to put all the money down on on a house. You split the cash flow very month and you sell it in 5 years. When you sell you get your down payment back and split the equity. All he does is gives you the paperwork on a house you carry all the risk.

  • @MikeAffholder
    @MikeAffholder Před 2 měsíci

    first lein heloc?

  • @WinaLamborghini17500
    @WinaLamborghini17500 Před 2 měsíci

    How is 40k 80% of 100k

    • @ekirtman
      @ekirtman Před 2 měsíci

      $300,000 x 80% = $240,000

    • @ekirtman
      @ekirtman Před 2 měsíci

      $200k is debt, you have $40k left over.

    • @WinaLamborghini17500
      @WinaLamborghini17500 Před 2 měsíci

      @@ekirtman I see. Value now 300k, 80% of is 240k, -200k owed on original loan, so 40k left to use elsewhere. So this is strictly used when taking money out to be used towards another property, where is the other 20%? Only exists when property is resold?

    • @jameswilkerson2785
      @jameswilkerson2785 Před 2 měsíci +1

      The 20% is equity you leave in the property.

  • @ZanyRo90
    @ZanyRo90 Před 2 dny

    All im going to suggest to those whom come across this content and or similar content.... "DAVE RAMSEY".. Everything else is steering you in the wrong direction.