How To Use Debt to Get Rich – How The 1% Use Debt To Build Wealth
How To Use Debt to Get Rich - How The 1% Use Debt To Build Wealth

How To Use Debt to Get Rich - How The 1% Use Debt:You have probably heard of the saying 'there is good debt and then there is bad debt'.First, In this video we are going to compare good debt and bad debt. I will also explain why MOST people should consider all debt, bad debt (like Dave Ramsey).However, this video is mainly about using debt in a good way. How is this possible?Rich people use debt to generate INCOME PRODUCING ASSETS. Whether that is a business, investment, real estate, etc. Whenever rich people borrow money, they use it to create MORE MONEY than they borrowed. For example, an average person may borrow 40k to spend on a car. A rich person will borrow 40k to market a product which will make 60k in revenue, therefore a 20k profit. Borrowing money to 'get ahead' in the investing/business world is a fundamental strategy the ALL fortune 500 companies use. Coincidence? Nope. Debt is a necessity to get to the top income level on the planet.There are also a ton of great advantages for borrowing money. Like the massive tax deductions you get for the interest on the loan, the depreciation you get for the investment you bought, and all other business expenses that are related tot he investment/loan. This on its own can lower significantly reduce your taxable income. For example, there are real estate investors out there that make millions of dollars per year, but dont pay taxes at all because of all the deductions (crazy right?).But remember, before you borrow money, be smart about it and make sure you have enough reserve cashflow to cover all the debt payments, even if the investment failsQueen of Versailles: https://youtu.be/LQW9Ks0GZUQDave Ramsey: https://www.youtube.com/user/DaveRamseyShow?&ab_channel=TheDaveRamseyShowMargin Call: https://youtu.be/Y2DqFRsPrnsStock Market Mastery Course: http://bit.ly/2hurfQOWealth Accelerator Course: http://bit.ly/2qxfONOPodcast: http://chapplerei.com/use-debt-get-rich/My Favourite 'Mindset' Book: http://amzn.to/2slhmKDA Book for Motivation: http://amzn.to/2slEbOzMy Favourite Book on Stocks (In 2017): http://amzn.to/2uktY6kThe Most Important Book I've Ever Read: http://amzn.to/2tLQ2tFA Book Influenced my Investing Strategy and Business Strategy: http://amzn.to/2tl44iwMy Camera That I Use: http://amzn.to/2slFwEOArguably My Favourite All-Around Read: http://amzn.to/2ukUwV8Website! http://chapplerei.com (under construction) On Instagram! https://instagram.com/jack_chapple_real/ On Vine! https://vine.co/u/1176331971736293376 On Twitter! https://twitter.com/JackChappleSci On Faceook! https://www.facebook.com/ChappleREI/