HOW TO MANAGE BANK DEBT WITHOUT PAYING OUT OF POCKET š³š°
Brothers & Sisters, Great day. Let me ask you something⦠How many times have you wanted to take a loanā¦but hesitated because you thought: āHow am I going to make these monthly payments?ā If you have, donāt worry because today I am going to teach you how professionals manage bank debt without ever having to pay money out of pocket. Here is the truth: Most people believe that when they take on bank debt, they must repay it using their personal income. However, this is the furthest thing from the truth. Your loan should be paid using 2 very important tools: 1. The banks money 2. The Business or investment you are deploying the capital into Let me explain: When I was in real estate, I learned a powerful strategy called: DEBT SERVICE And once you understand this strategyā¦you will never look at borrowing the same way again. Here is how it works: 1. Identify your minimum monthly payment 2. Multiply that number by the number of months you want covered For Example: ⢠Monthly Payment = $500⢠Coverage Period = 6 months š $500 x 6 = $3,000 Now letās say you secure a $15,000 loan⦠Instead of thinking:āHow do I pay this back?ā You structure it like this: ⢠Set aside $3,000 for payments⢠Deploy the remaining $12,000 into your investment or business What does this do? - Buys you TIME - Removes pressure from your personal income - Allows your investment to start producing - Positions the DEAL to pay the DEBT Family⦠Master this⦠And you stop working for money and start making money work for you. God is the Absolute Greatest. Letās goooo š„