Just the other day, my bank reached out to me, asking if I wanted $200,000. The only thing I needed to do was saying YES. I’ll tell you how this happened and how you can get this as well!
00:00 What Did I Get from the Bank?
In this video today I’ll tell you why the bank offered me $200,000 and if you stay until the end, I’ll show you how you can make this money into even more money!
01:51 Why the Bank Would Offer me $200,000
I already have a mortgage with the bank. Not only for my own home, but also for all my rental properties. On average, the equity growth on properties is somewhat between 1% to 5% each year depending on where the properties are. So, if the equity value of all the properties have grown by the end of the year. The bank will ask if you would like to ‘receive that equity growth’ in cash. And of course you say YES!
03:20 How to Make Money with Money
Make a choice, how would you like to use the money?
There are so many ways to increase your money, by using your money. But choose one that you think, fits you. And set your mind to it.
No matter what you choose, just go for it. Then money will be multiplied using money.
05:14 How You Can Do the Same
The moment you own several properties. You can set a reminder at the end of each year.
Real estate appraisers can come by to appraise your home based on information from your neighborhood and what was being sold that year. And through that, they can judge the value of your home as well. Once the value of your homes have all risen, it might not be a bad choice to take a look if it would be interesting to cash out the equity growth. And if so, tell the bank you would like to take out the money!
07:20 Bonus: Why the Rich Become Richer
This concept makes so much sense. The rich know the tax rules and benefits, the rich know how to focus their time and attention on one thing to make it happen and then work really hard for a certain amount of time. If you know these rules, it’s not that hard.
