This is a life changing lens if you can read and understand the information that is being shared, This lens outlines a very simple step by step strategy that will make anyone wealthy if they apply it and follow it through. If you already know this information, great! this lens is a reminder that you need to hop to it or maybe its congratulations.
This is a step by step strategy for turning your credit into a passive stream of income. You can leverage your credit and do the same thing that big bankers do to turn a profit without ever lifting a finger. In this guide I will show you how to do it even better than the banks because your money is 100% guaranteed and there is absolutely no way possible that you can ever lose.
No hype
The steady path to wealth
In this economy, everyone is constantly running into opportunities and ways to get rich quick or to start some new business or something else. These opportunities work for many and I myself employ some of these strategies to earn a decent living.
The problem here is that there was a huge learning curve. I had to learn some new skills, spend a lot of time, money and manage a business as well as promote it. This was all well and fun, but I kept looking because I wanted something more passive and that could be done by anyone even without any skills.
What I discuss in this lens is thee most passive thing you could do for a living short of just winning the lottery or inheriting a bunch of money. This strategy requires very little action on your part and once it has been built up can pay off quit well. This business is the true definition of making your money work for you, and you will see why as we progress.
What you are doing is leveraging your good credit to generate some income, and this is something that every person with good or even decent credit should begin doing immediately.
If you do not have good credit or want to improve your credit, first understand that most credit repair companies run scams. Learn the Five Most Devastating Credit Mistakes and how to avoid them Here
Strategy
Your wealth building game plan
Okay, to put it bluntly, the best way to make money and generate passive income from your good credit is to borrow at low interest rates, and lend out at higher interest rates. Essentially this is the same thing the banks do. You lend them your money at some low interest rate (almost none like some of us) and they turn around and lend it back out to others at a much higher interest rates. This is how the big easy money is made.
STOP!
Calm down, you don't have to become a bank and you don't have to worry about borrowers not paying you back. What you will invest your money in if you follow this guide is 100% guaranteed to pay off. Absolutely fool-proof once you get it.
Let me explain a little more..
Tax liens
Your one way ticket to wealth
A tax lien is created whenever someone does not pay their property taxes. This lien means that before this house is ever sold or title is transferred, the lien has to be paid off.
This lien also accrues interest, usually between 15-24% depending on the state the property is in. This means that before anyone transfers ownership of the property with a lien on it, they have to pay off the original balance + interest.
States need money, so they periodically sell off the tax liens to the public to recuperate their taxes. You, The buyer of the tax lien will now collect the interest accrued as a profit. This is where you get wealthy. All you have to do is buy tax liens and you are guaranteed a return of 15-24% depending on the state you invest in.
Let's review for a second how you can get wealthy from this simple idea.
Step 1: Go to the bank and use your good credit to borrow $100,000 @ 5% interest
Step 2: Go and buy tax liens from your state which pays 20%(example) interest.
Step 3: Collect a $15,000 annual profit after you pay your bank's interest.
Do you realize that by implementing this simple strategy, you can use moderate credit to earn a salary that some people don't even make working all year. All you did was borrow money, buy tax liens, and wait till the owner paid, then you can simply reinvest.
Oh yeah, and in most states, the maximum amount of time the owner has to pay off the lien is two years, so you are guaranteed repayment within that time period. Depending on which state you buy tax liens in (& i recommend you go with these states) if the owner cannot repay within 2 years, you get title to the house outright. You can then turn around and sell the house, renovate, fix it up, or whatever to collect your profit. This is a bonus. You make 15-24% return on average, but may get lucky and get a huge bonus in the form of a free and clear house. Nice?
The more you borrow and as you keep paying the bank on time, your credit score will improve and you will be able to borrow even more money to invest. You should try to work your way into the high six figures or even $1,000,000. With a million dollars invested in tax liens, you can expect at the least $150,000 annually, which is a doctor's salary for doing nothing more than going to the bank, buying tax liens, and waiting for the pay-off.
Learn more about investing in tax liens HERE
Conclusion
Residual income at the max
This strategy you have just learned is something I recommend everyone implement as soon as they get the chance. its free money. the bank will be happy and the state will be happy. There are tons of tax liens available all over the place and not many people know about them, so there is huge opportunity for growth in this business.
I can't even call it a business it's so simple. When I was younger, I made a few mistakes that hurt my credit and now I have to build it up some more before i can make huge investments into tax liens. if you don't have that problem, you should jump in now and as outlined above, if you can go in with 100k, you can earn about 15k annually. if your credit score is better, you may get a rate as low as 3%, meaning you make $17,000 annually. .
Do you see the importance of a good credit score? a 2% difference in interest rates can mean $2000/year. or more depending on how much you're investing.
Also, you should try to invest in states that pay out more than 20%, and more like 24%. if you do this, your $100,000 investment can earn you $22,000 if your repayment interest rate is 3%. This is a huge amount of money for not doing anything!
This is an easy way for anyone to become a millionaire within a decade. There is no way to fail unless you just don't cash the checks or don't even implement this strategy at all.
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