Even though your mortgage term is 30 years, doesn’t mean you want to actually take that long to pay it off. You have other dreams, interests and opportunities that you want to explore.
You’ve worked hard to get where you are but you don’t want to work your whole life just to pay off your mortgage. You want to retire at a good age and live comfortably.
We’re here to tell you, you can.
There are a multitude of ways you can achieve your financial goals when it comes to retirement, one of which is paying off your mortgage in a fraction of the time you thought was possible.
Follow These Steps to Pay Off Your Mortgage in Just 9 Years
There are a few preliminary qualifications to consider before attempting to execute this investment strategy, some of which include:
- You are a homeowner
- Your Current Mortgage is 50% or less than your property’s Current Market Value
- Your Employment Status allows you to qualify for a HELOC
Add a Home Equity Line of Credit (HELOC) to your home.
- Let’s say you own a home that’s currently worth $1M and you only have a mortgage balance of $500K.
- By adding a HELOC of 300K at a 3.75% interest rate, your monthly payment would be $875.
Invest a portion of your HELOC into Secure Second Mortgages.
- By investing just $100K (of your $300K HELOC) into secure second mortgages, you can earn 12% interest.
- Your investment income from this would be $1,000 per month or $12K annually.
Use your Investment Income to pay off your HELOC interest.
- Easily pay off that $875 monthly cost.
Invest the remaining portion of your HELOC into an Equity Investment
- By investing in an equity investment such as commercial real estate that has a return of 15% annually, you can sit back and watch as your investment grows.
- Commercial real estate investments can include apartment buildings, hotels, & short-term rental properties, among others.
- At HoneyTree, we can introduce you to investment opportunities that can produce annual returns of up to 15% or more and take care of all the details so you really can just sit back and watch your investments grow.
What are the results?
After just 9 years, your $200K investment will be worth $700K (yes, that 15% adds up).
This profit, along with your $100K investment in secondary mortgages, will be enough to pay off your $300K HELOC & the remaining balance on your mortgage. Leaving you with all the profits and full ownership of your home.
Now that your mortgage is paid off, HoneyTree can show you how to turn your home equity into stable, predictable monthly income so even self-employed, gig economy workers can retire with a “pension”.
Get out of the cycle of constantly paying off a new mortgage and let your money work for you.
At HoneyTree Grow, we make real estate investment simple by doing all of the work for you. Our team consists of independently successful real estate investors focused on building commercial real estate portfolios for over five years.
Whether you’re looking for advice, education, or an investment opportunity, we’re here to help.
Follow us on our social media channels or contact us for more information.
