The Gale Team claims you can use your home to grow your wealth and buy an investment property that a tenant will pay off for you. And you don’t have to use a single dollar of your savings. Something about leveraging dormant equity and multiplying it with their little-known method. In doing so, you could be in a position to acquire your first investment property within the next 30 days. So what’s this all about? And what’s the catch, right? Read on for my review.
You could use the cash flow from the investment property to pay off your current mortgage, save up for your kids’ college, take more family vacations, or even retire early. “Ultimately, this strategy will help you to feel financially secure,” says Greg Gale, a senior loan officer and team lead for Nova Home Loans. “And, in time, can become a backstop should anything occur that keeps you from earning an income. If any of those outcomes sound good, then pay close attention to what I’m about to say.”
“As a licensed mortgage broker,” Greg continues, “I specialize in teaching people how to leverage the equity they have in their home and use it to grow their wealth by owning residential investment property. And the good news I have about this strategy is that it is easy to implement and makes so much sense, you’re going to wonder why you didn’t do it sooner. Now, after many years of helping people hit their financial and wealth goals, it becomes apparent that most people need help.”
You wanna know how to pay off your mortgage as fast as possible. And how to build a nest egg that can fund the future education of your children. And still have enough left over to retire when you want and uphold the same type of lifestyle. Right? Like, is that too much to ask? Well, here’s what you have to know. Banks believe real estate is a solid, safe investment. Because of this, they’re willing to loan you up to 80% of the current value of the home you’re looking to buy. Does that make sense? Cool.
So what you’d do is, according to Greg, tap into the equity of your current home to use it as a deposit on an investment property. Say you do a cash-out refinance. You’re able to withdraw $120k worth of equity. Nice. That’s enough to cover the required 20% down payment on a $600k investment property. What about the remaining $480k? Remember, the bank’s gonna be more than willing to hook you up with a reasonable mortgage for that. Now alls ya gotta do is find a good tenant and charge ’em enough rent to cover whatever that monthly mortgage payment is (plus interest).
“So in essence you are using someone else’s money,” Greg explains. “And it’s costing you nothing to use it. And if we look at the rate at which home values have increased over the past 20 years, you’re looking at an average increase of 7% year over year. Even if you decided to sell the home after holding it for a year, and say the value only increased a modest 5%, you’d still make tens of thousands of dollars after paying back the bank in full. But what if you held it and let it appreciate for 10 years? You could make enough to pay off your current mortgage.”
Or what if you had two investment properties? Or three? Or five? The math gets pretty crazy pretty fast. It’s not unrealistic to think you could increase your net worth by millions of dollars over the course of 10-15 years. And that’s a common outcome for Greg’s clients. Again, it all originates from leveraging the dormant equity in your current crib and other people’s money. Book a 30-minute investment property chat with Greg to learn more. My guess is he makes money when you A) do a cash-out refinance and B) get a mortgage for any investment properties.