Michael Lush

How John in Tennessee Refinanced Rental Properties into a HELOC and Paid it Down with the Income

What was your mortgage situation prior to starting with Replace Your Mortgage?

Rental properties were due to be refinanced. I used the RYM strategy to pull one property out free and clear to use the equity via a line of credit to invest in an apartment complex and another startup.

On a case by case basis, I will be refinancing some or all of the other properties from mortgages into lines of credit if possible.

What is the current status of your HELOC and how many months did it take you to achieve it?

I’ve used about 80% of the available HELOC balance for investments. Partly using rental income, I aggressively pay down the principal 2-3 times more each month than if it were financed as a mortgage. Still having access to equity I've built in the line of credit is comforting, so it's not like the money is “lost.”

What was your biggest concern when deciding to join RYM?

Not knowing how to apply the RYM strategy to my commercial real estate investments. I wasn't able to fully implement it, but becoming aware of the possibility was worth the expense. I'm also curious about Infinite Banking and some of the other concepts mentioned in the training.

How has using the RYM strategy changed your life?

I like being able to pay on debts faster and still have access to those funds, if need be.

What advice would you give to a homeowner considering trying the RYM strategy?

Do it!

Get more of your income working for you for more of the month and sooner, change your balance sheet and live better than you thought possible.

You owe it to yourself and your family to get your home paid off ASAP.

Michael Lush

Disclaimer: Replace Your Mortgage does not offer mortgages, Helocs, or loans of any kind. Replace Your Mortgage is not a bank, and does not provide credit offers. Replace Your Mortgage is strictly for educational and informational purposes only.
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