PLP – 126: Avoiding Huge Debts In Your Equity Contracts With Matthew Sullivan
Buying a new home is truly exciting, but every owner dreads one thing: debts. Most homeowners who want to get their hands on equity contracts turn to credit or reverse mortgages when acquiring a new property. Unfortunately, these only push them deeper into debt. Thankfully, Matthew Sullivan found a solution to this problem while boosting property ownership. Joining Keith Baker, he explains their work at QuantmRE that gives homeowners access to a portion of their home equity. Therefore, they are not only saved from debt but also tedious monthly payments and interest. Keith explains how this helps homeowners more than just saving money, innovating real estate transactions today. --- Avoiding Huge Debts In Your Equity Contracts With Matthew Sullivan How QuantmRE Boosts Property Ownership This is the only place to be if you're looking for practical tips and advice on private lending and how to keep your money safe. If you want to learn from my mistakes so that you can both avoid and profit from them, then pull up a chair and pour yourself a drink because this show is designed just for you. It's dedicated to giving people like you and me the knowledge and confidence to participate in the most passive form of real estate investing there is, which so happens to be private lending. If you're looking for a shortcut to go ahead and get started private lending, then head over to PrivateLenderPodcast.com/ink to learn how you can put your money to work for you by investing in real estate back loans right here in the Houston area. Also, make sure to join the show's Facebook group to connect with other private lenders and to be a part of the growing community. You can search Facebook for Private Lender Podcast group. On past episodes, we have discussed that 95% or more of my private lending is done out of my self-directed IRA, but there are other ways to get money to loan out that belongs to you without borrowing it from somebody. You can borrow from yourself. For example, you can borrow from your life insurance policy. Certain whole life policies have cash values you can borrow from and arbitrage the interest. The same thing with a home equity line of credit or a home equity loan. If you go to Bank of America and borrow money for 3%, yet you can loan it back out in six-month intervals to flippers for 13% or 12 points. You've arbitraged that 3, 4, to 12 so you're making 8% of that money even after you pay off the loan. It's a pretty neat deal. Our guest has a very interesting take on the same thing. His company provides homeowners a contract on that equity that they don't have to pay back, except when the house is sold. It's like a home equity line. You're giving up a certain percentage of your equity for cash now that will be realized later on. I'm probably not describing it very well. Why don't we go ahead and get down to the brass tacks of this episode and go straight to the interview with Matthew Sullivan ? --- I have a very special guest with a very interesting topic. Please welcome Matthew Sullivan to the show. Matthew, welcome aboard. Thanks for coming on. Keith, thank you for having me on. I can tell you're from East Texas. Why don't you tell us a little bit about your accent there? Where are you from? Alabama. I'm originally from outside of London in England. We can't call it Europe anymore because it's not. I moved over here a few years ago. I landed in Orange County and moved to Salt Lake City in Utah. I find the blazing daily sunshine of California far too decent. I felt I needed to get cold again. I might be heading back to California pretty quickly. [bctt tweet="#NeverTrustAlwaysVerify - remember you must perform your own due diligence prior to investing any money." via="no"] English bloods are calling out saying you needed some gray skies and some cold weather. It was great to move. We've got the wanderlust. I was flicking through the advertisements for trailers and RVs. Goodness knows what's going to happen. I hope it all goes well with you. I don't feel sorry for anyone who can live in Orange County. It's not as nice as my neighborhood, but I don't pity anyone in my neighborhood at all. You do have much better weather. I'll give you that. You may have a very interesting concept. You've started QuantmRE.com . It’s better if you can explain it than I try to bumble it. Please explain what it is that you do. We have a solution for homeowners who have equity and want to access that equity but don't want to go into debt. It's quite a big problem because there's over $18 trillion of equity in residential homes in the US. Nearly sixteen million homes have 50% or more equity. There were some reports that came out showing that equity in homes has hit an all-time high. If you're a homeowner and you want to get your hands on your equity, the problem is you've got to go to the bank and borrow money. You can borrow money through a cash-out refinance or a se
Buying a new home is truly exciting, but every owner dreads one thing: debts. Most homeowners who want to get their hands on equity contracts turn to credit or reverse mortgages when acquiring a new property. Unfortunately, these only push them deeper into debt. Thankfully, Matthew Sullivan found a solution to this problem while boosting property ownership. Joining Keith Baker, he explains their work at QuantmRE that gives homeowners access to a portion of their home equity. Therefore, they are not only saved from debt but also tedious monthly payments and interest. Keith explains how this helps homeowners more than just saving money, innovating real estate transactions today. --- Avoiding Huge Debts In Your Equity Contracts With Matthew Sullivan How QuantmRE Boosts Property Ownership This is the only place to be if you're looking for practical tips and advice on private lending and how to keep your money safe. If you want to learn from my mistakes so that you can both avoid and profit from them, then pull up a chair and pour yourself a drink because this show is designed just for you. It's dedicated to giving people like you and me the knowledge and confidence to participate in the most passive form of real estate investing there is, which so happens to be private lending. If you're looking for a shortcut to go ahead and get started private lending, then head over to PrivateLenderPodcast.com/ink to learn how you can put your money to work for you by investing in real estate back loans right here in the Houston area. Also, make sure to join the show's Facebook group to connect with other private lenders and to be a part of the growing community. You can search Facebook for Private Lender Podcast group. On past episodes, we have discussed that 95% or more of my private lending is done out of my self-directed IRA, but there are other ways to get money to loan out that belongs to you without borrowing it from somebody. You can borrow from yourself. For example, you can borrow from your life insurance policy. Certain whole life policies have cash values you can borrow from and arbitrage the interest. The same thing with a home equity line of credit or a home equity loan. If you go to Bank of America and borrow money for 3%, yet you can loan it back out in six-month intervals to flippers for 13% or 12 points. You've arbitraged that 3, 4, to 12 so you're making 8% of that money even after you pay off the loan. It's a pretty neat deal. Our guest has a very interesting take on the same thing. His company provides homeowners a contract on that equity that they don't have to pay back, except when the house is sold. It's like a home equity line. You're giving up a certain percentage of your equity for cash now that will be realized later on. I'm probably not describing it very well. Why don't we go ahead and get down to the brass tacks of this episode and go straight to the interview with Matthew Sullivan ? --- I have a very special guest with a very interesting topic. Please welcome Matthew Sullivan to the show. Matthew, welcome aboard. Thanks for coming on. Keith, thank you for having me on. I can tell you're from East Texas. Why don't you tell us a little bit about your accent there? Where are you from? Alabama. I'm originally from outside of London in England. We can't call it Europe anymore because it's not. I moved over here a few years ago. I landed in Orange County and moved to Salt Lake City in Utah. I find the blazing daily sunshine of California far too decent. I felt I needed to get cold again. I might be heading back to California pretty quickly. [bctt tweet="#NeverTrustAlwaysVerify - remember you must perform your own due diligence prior to investing any money." via="no"] English bloods are calling out saying you needed some gray skies and some cold weather. It was great to move. We've got the wanderlust. I was flicking through the advertisements for trailers and RVs. Goodness knows what's going to happen. I hope it all goes well with you. I don't feel sorry for anyone who can live in Orange County. It's not as nice as my neighborhood, but I don't pity anyone in my neighborhood at all. You do have much better weather. I'll give you that. You may have a very interesting concept. You've started QuantmRE.com . It’s better if you can explain it than I try to bumble it. Please explain what it is that you do. We have a solution for homeowners who have equity and want to access that equity but don't want to go into debt. It's quite a big problem because there's over $18 trillion of equity in residential homes in the US. Nearly sixteen million homes have 50% or more equity. There were some reports that came out showing that equity in homes has hit an all-time high. If you're a homeowner and you want to get your hands on your equity, the problem is you've got to go to the bank and borrow money. You can borrow money through a cash-out refinance or a se