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Using Velocity Banking To Invest And Build Large Sums Of Wealth
We’ve seen how Velocity Banking has gotten people out of debt relatively quickly and painless, what about building wealth?
Let’s say you want to borrow $25,000 to buy 2,500 shares of stock that can generate $2,500 in monthly income. Now, you would need to pay back the loan so you can repeat the process.
If you can’t get a Personal Line of Credit of that amount, or you can’t qualify for a Home Equity Line Of Credit, you may need to take out a loan. No need to worry. If you know how to use the Velocity Banking strategy to your advantage, that $25,000 can be paid off relatively quickly.
Let’s say you the loan costs $650 a month, but you’ve used your $2,500 a month income from your investment to get a $10,000 PLOC. You make a chunk payment of $10,000. You put all of your income towards the $10,000 PLOC. You take out enough money to pay for living expenses and monthly debts (including the $650 for the monthly loan). When the $10,000 PLOC is fully funded, you make another chunk payment towards the $25,000 loan. In less than 2 years that loan is paid off.
If you own your home, you could take out a Home Equity Line Of Credit and borrow tens of thousands of dollars to invest. Imagine borrowing $100,000 to generate $10,000 a month. Being that it’s a line of credit, you…
