How I Have A 0% Interest Rate Mortgage
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- Опубліковано 10 вер 2024
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In other words, if you don't need a loan at all you can get one at a good rate. Who knew?
Rich people can get richer a lot easier than poor people.
Guess I'm not ready to own a house or be a business owner because I still don't understand. 😢
She is very wealthy already, that's the loophole. Her business makes so much money that she can just have 100k sitting in her bank account.
Step 1: be insanely priviledged
@@yeetyeet7070she's not privileged, she built her business from the ground up beginning as a teenager and earned all that money
I have my own Business... and no Mortgage.
Yep, and it's at 0% ... go Me... 🎉🎉🎉😊
The USA doesn't have this.
That's a good point. I do believe that USA has something similar though with some financial institutions, it's instead called an All-In-One Account.
I actually don’t really inderstand it, or am I stupid haha? Can someone explain? Btw dont think this works in europe/ netherlands right?
yes .. you can be do that after you get your mortgage unlocked .. after unlocked we can do that if the bank let us do it
Thank you very smart unsure if I can do that here but will check
Well, "I'm a business owner, I don't have a job". No job - no mortgage.
At least in Canada having a job AND money for a down payment - you still either can't get a mortgage or can't get enough to buy smth decent. Talking about Ontario
in the netherlands every person may deduct their mortgage interest, zero costs without a business, and there is no capital gain tax for flipping your own house you live in, tax free
You PAY no mortgage interest but you also EARN NOTHING, or next to nothing, on your $100,000. Also, NOT legal in the USA.
Oh great to know! I’ve put off buying a property in this current climate. More videos like this please 🙏💜
What happens Sarah when it's time to pay the taxes?
I don't understand how this works. I have money in savings but how does that offset the mortgage? And if we were to opt to defer taxes until later, how would that offset the mortgage?
Usually these mortgage accounts have a separate account to offset the loan. They will not be using your savings account to offset because it is for your savings. Most likely they’ll give you a current account for this purpose. If you have extra money in your savings, you can move it to this account which will offset your mortgage 🙂
Thank you foe sharing this invaluable knowledge with the masses 🙏
What bank account is paying you over 6 percent interest right now? Interest rates on a mortgage in the US are between 6-7 percent right now
I don't live in the USA. Every country has their own interest rates 🙏
personally, I don't understand why a millionaire has a mortgage. I assumed they would just pay cash.
I love your videos, Sarah, keep rockin' it
Thank you! A mortgage makes sense if you can better utilize your money. For example: since I have tax money that has to sit there anyway, I might as well use that as an offset mortgage, and instead use the cash I would have paid to purchase additional investment property (or more). That way, I have 2 properties gaining in capital value, rather than paying in-cash for just 1.
Debt is actually leverage. Dollars are worth less every year. Paying back dollars grows cheaper and cheaper, rents grow ect
I just learned something new! :D
In todays banking climate, is this still a good idea? Also, this is a bit different in the USA, it’s called an all in one mortgage with only few lenders
Everyone would have to figure out their own banking situation. Here, we have very secure banks. The only alternative would, in theory, for me to pull out my tax money as cash & store it in a vault, or to store it in a bank. I'd much rather store it in a bank!
@@WholesaleTed I'm not from NZ so I'm not sure about your Banking System. However, I'm aware of Bank Bail-ins. Where only $250k is insured. I believe these were implemented after 2008. Not sure how that affects your offset account. The Banking System here in Canada is strong, as I'm sure it is in NZ. But we're all tied to the USD. And in these crazy times who knows what can happen. I do love offset accounts though, I had one in Australia. Love your Channel, been following before Tiktok & YT Shorts ❤
@@WholesaleTed as secure as SVB?
This is only relevant if the amount of tax you owe is of equal value to the value of your mortgage. This is applicable to such a small percentage of the population and this vid is just a flex…
Sweet!
Damn you must have a business making a lot of money considering you can offset using just taxed money
So you need a lot of money to save money
That cant be in this country, The US is too greedy to offer that option.
Does this only apply to conventional loans? Asking because y'all mentioned Freddie Mac and Freddie Mae.
Thanks for sharing your knowledge. Much appreciated.
there are comments here suggesting you don't earn anything, but you're saving on interest that you would otherwise have had to pay. Also, you would also have to pay taxes on interest earned.
OMG I could do with content from you on how to buy a house! I have a downpayment and a great job but the banks won’t loan me a workable amount because I’m not permanent. It’s ruining my life I have no where to live my health is down the drain. If you know any tricks to get around a low amount that would be awesome. Currently I’m studying the triad of e-commerce, stocks and youtube to try and make the money outright.
Smart girl
So all i need is 300k+ in tax money from my business in a bank account? That doesn't seem very easy :/
Can you do that in New Zealand?
I'm in love with Sarah, she has NO IDEA how beautiful and GORGEOUS she is 😊❤️
Well i messed up by not having that money first
Will have to check if this is offered in my country, never heard of any if the sort.
Hey Sarah, you should do a video on how you have so much energy.
😏😉☺️
So if you have a lot of money, things cost you less. 🤔
What a crazy crazy world we live in. 😅
SO SMART SO BEAUTIFUL 🙏👍😎
I love watching your videos. I have learned so much from you. You are absolutely brilliant !!! 😊 Have a blessed day Sara!!!
What is mortgage free??
A productive way to use debt :)
For the ?th time..............,you're brilliant 😌👍
Wow I wish I had a spare $100,000 dollars to just sit in a bank only to offset interest payments… 🙄
she literally shows you how to do it....good luck!
Haha. It isn't money that's "just" there to offset payments. It's money I owe to the government, but that the government only collects a few times a year. Otherwise no, I'd have it be doing more useful things!
Write that down.. write thaaaat down 😅
Nice if you have that amount of money in the bank smh 😆
I don’t have a 100000 like u but great idea
These are 2 different things. You have to pay taxes on your business no matter what.
Why would the bank do this?
They'll be making no money from you.
My thought - if she has $100K or so just sitting in an account, the actual money isn't there. The bank will be leveraging her $$$, investing it to make larger returns. So she saves 5 percent or so in unpaid interest, the bank may make say 8-10 percent or more on the balance in the account. Everyone is happy. The bank gets a large sum to work with, that is essentially locked in, instead of monthly mortgage payments that just trickle in. Also, mortgage payments can stop at any time if a buyer gets into financial trouble. It's almost guaranteed cash if a buyer is financially stable enough to do this strategy.
They make plenty of money hedging that $100,000+ you're "storing" at/lending to the bank.
There are 2 major ways that banks make money:
1) Lending money & getting interest on the loans.
2) Using money that is deposited to reinvest to earn money - such as lending that money out to new customers for loans.
To encourage you to deposit money in their accounts so they can leverage it, they will use a range of incentives such as:
* Paying YOU interest
* Allowing you to do things like offset your mortgage
You don't have to pay taxes immediately: you pay them when they are due. It would be a waste for me to not be using my tax money that is sitting around, waiting to be due, to be leveraged to earn/save money, such as through this.
@@WholesaleTed I know all of that. But they are making no money on the mortgage.
@@katrinab7657 They already do that now.
At least in the US.
This vid is the real deal!
This sounds neat, just wondering if it is legit? I also really thought this was going to be satire.
Does this work in US
99th🥳 i 💖 checking this kind of info. out
Somebody let me borrow $100,000 please 😅😂😢
That's how you do it 💪
I don't believe in buying a house (unless it's a tiny home or #VanLife).....but if you were ever going to, this is the way to do it!
If you don’t already have a full-length video explaining this structure in more detail, I’d love to see one!
if you didn't get it now, you wont get it "in more detail" either
Is this also for Australia? Or just NZ?
Yes, Australia too
@@intotheblue970 ok cool. I had no idea!
Yep, that’s how the rich get richer. 🤷🏽♀️
Video not working Sarah
So to avoid a traditional mortgage of $100,000, you just need $100,000 in the bank. Truely sage advice...
I'll be honest, your mocking comment makes no sense. You are mocking the idea by saying well, if you have $100k sitting around, then you could just pay off your mortgage with it. However, as I explained in this video, this is TAX money that I owe to the government. I can't just use it to pay off my mortgage. And so I keep it in a safe account that also offsets my mortgage. Yes, if you have a job this doesn't work: but that's the point of this video, that as a business, you get opportunities to leverage your cash that employees don't. Even if am employee earns the same amount of money as a business owner, the business owner has a lot more opportunities to get extra value from the money they earn because they don't owe taxes immediately from their income 🙏
@@WholesaleTed That's not what I said. My point is you need to have earned quite a significant amount of money to do this.
To clarify: This video isn't saying it's a step-by-step tutorial for everybody to learn how to pay 0% mortgage - this is a video showing how *I* personally do it and that's how I titled it as well. And my hope is in showing how I do it, that it can then help inspire people by seeing that there are a lot of interesting ways to use money that they may have not considered. And for many business owners, they have never considered using their tax money like this before: and even if their taxes are a fraction of mine, they can still use their tax money now to gain extra value 🙏
I was in when she said I don't have a job I'm a business owner and I was out when she said if you have 100k in the bank 😅#realtalk
Why dont u just buy it in full? Millionaire aint you?
Sound great until the IRS takes your darn house. We will spend the money we see or perception of money coming in. Darn click bait videos.
How is this clickbait Michael? My title promised I would show how I pay 0% mortgage, and it showed exactly how I do that. I don't quite understand this comment, why is the IRS going to take my house? Where I live, New Zealand, this is all legal 🙏
Try not pay n taxes in America 😂 then c wat happens
who in their right mind would leave let’s say 400000 (mortgage loan) in a savings accounts just to offset the so called zero interest while paying bank fees and other charges associated with this loan? Wouldn’t you rather put the 400k in a 6mth treasury bill to earn 5%, so in six months you would earn 400k x 5% = 20k??? Btw…FDIC only insure up to $250000…so If the bank collapses you are S.O.L. Unless you bank with svb 😂😂😂, people don’t fall for this scam
All of what you stated applies to people living in the USA and I think it is good to keep that in mind when criticising someone's investment choices as what is good in some countries, may not be good in others. I live in New Zealand. Our bank interest rates are better than Americas, we have different (worse) bond opportunities to what you have, and my bank here is mostly owned by the government securing the deposit for much more than $250k 🙏
Not everyone has the money to offset a mortgage like this, the rich get richer, disappointed in your content here, kinda pointless
@Wholesale-Ted.. not a great response Sarah, people come to your content as it has always been accessible to all, especially free methods to do things etc, just think this particular video goes against that, look forward to seeing your better stuff, just some honest feedback
Gally, that person was a fake spam account impersonating me (which is why it wasn't called Wholesale Ted, it was Gmail-sarahchrisp92) that was trying to scam you, which is why it gave such a strange reply. I've discussed the scam a lot on this channel, and I made this video explaining it: ua-cam.com/users/shortstaek09vYlJ8
I'm sorry the video wasn't helpful. I understand your perspective, I will keep that in mind for any future videos. Please do not though that people impersonate me as a way to scam - please do not ever actually message them, I will never ask anyone to message me :)
@@WholesaleTed thanks for the (real) reply 😜 much appreciated, not many people are even that bothered, thanks for the scam reminder too
And now she's flexing in shorts 😒
She's giving legitimate financial strategies. I appreciate it because I don't know many people with enough money to know or implement this stuff. I hope to have substantially more money and I need to prepare myself.
Are your teeth real?
yawn