You can already afford a rental home. Seriously. No jokes.

Summary

Unearth hidden wealth in your home equity with James Loewen in the new 'Smarter, Not Harder' episode. He demystifies the common misconception around rental property investment, showing how you don't necessarily need upfront cash. Discover how to transform idle home equity into a burgeoning rental portfolio, making your money work smarter, not harder.



Transcript

Hey, guys. Welcome back. And let's talk about a little bit of misnomer.

Several years ago, the government changed the rules so that any rental home purchase must have 20% down. It's true, that's a fact. What a lot of people miss, though, it doesn't have to be in cash. You don't have to be sitting there with hundreds of thousands just in cash. You've already got the money as a down payment, you just didn't know it. I'm James Loewen. Let's get your real estate rental portfolio growing, and this is Smarter, Not Harder.

So let me ask you a question. If I was to give you $500,000 in a bag, would you just put it underneath your mattress? What if I told you you're probably doing that already? Now, I'm James Loewen. Let's get going on the fact that you have a ton of equity in your house.

When you're looking at buying rental properties, you can use your home equity. You don't need cash there. Yeah, that's surprising, but you probably can already buy five rental homes. Let's take a look.

All right, let's run some numbers here, guys, just to show how much equity and employees you're sitting on in your home. Let's use a purchase or a home value of $1,000,000, which in Burlington, average home price has far exceeded that [inaudible 00:01:13]. We can refinance or access up to 80% of your home value, so that is $800,000 as an example. Any existing mortgage you have owing, if we had, for example, $300,000, means you have $500,000 of equity. If you're buying $500,000 rental homes at 20% down being a hundred grand, that's five rental homes you can be owning already. Now you're working five times smarter, not harder.

Okay, so where do we go from here? Well, it's hard for me to give exact personalized advice for each person's need. Hopefully, I've sparked the intrigue and getting the wheels cranking and turning on getting that third employee going. From here, please reach out to me. I want to take a look at your specific scenario and ensure that we're pre-approving you properly. I'm putting in a plan. Resale homes, multi-family homes, new build homes. It might even be a project on developments that we have going. It could be leveraged investing. We could even readjust your existing mortgage payment to allow for more of these, as well. So please reach out to us, message us, DM us, phone us, fax us email, text us, whatever you want do. Send an airplane. Myself and team are nothing in here but happy to help.

I'm James Loewen. We're getting your rental portfolio going. This is Smarter, Not Harder. Thanks so much for watching, guys. And of course, scientists have proven that 80% of people that share this video have a 50% chance of being 100% more of a millionaire. So run the numbers and of course, share this. I'm James Loewen. Let's get your money really growing. This is Smarter, Not Harder.