You know, having done 4,000 real-estate

investments, I should know a thing or 2 about the best way to pay a house off.

And in fac,t I do. And what I’m actually going to be doing today is I am going to

be sharing with you my hack on how to help you get your house paid off in 10

years. And not only that, I’m actually going to show you how to pay it off in

10 years and leave you something a little extra that you could use to keep

on investing and growing and actually creating a residual income with. Enjoy. So, you might be watching this video

because you’ve never heard of the 10-year method. You’ve heard of the 30-year

method. You’ve heard of the 15-year method. Let’s start there, makes you

understand that and then I’m going to give you my hack which you probably have

never heard before. So check this out. When you buy real estate, you need to

understand that if you’re going to do option 1 which is what’s called the

30-year mortgage, that there are 2 components of every payments. You have

what’s called P and I which stands for principle and interest. But i want you to

understand that on a 30-year mortgage, let’s just say for a moment that this

represents principal and this represents interest. And combined, there your total

payment. So, let’s say my payment as $500 a month. Well, if this is a 30-year

timeline then what’s going to happen is my in my first year, my first payment out of

360. My first payment is probably going to be majority interest and very little

principal. And the next payment… In the next payment the next payment will be

the same. But after 10 years, I start paying a little less in interest and

more in principle. And what it’ll mean is by the time I get to my 30 years, I’m

done paying interest and I’m only paying principal. This means because all the

interest is front-loaded that you’re going to actually pay for this house 2

and a half maybe 3 times. Which is crazy when you think about it.

My house is 100,000-dollar house, I’m going to pay 260,000 for it. My house is a 400,000-dollar house, I’m going to

pay over a million bucks for it. And that’s because the banks understand that

you’re not gonna stick with it for 30 years and they want their money

up front. The principal moves in a very similar format. And by the time you get

to the end of the 30 years, almost the entire payment is going to where its

principal and very little interest. So, if you’ve ever wondered why like, “Hey, I’m

ten years into my mortgage and I can lower my interest rate just a little bit.

I’m going to do a refinance.” People get suckered into that all day long. They

don’t realize that they’re resetting this entire schedule. It’s called

amortization schedule. And they’re going tO start by paying a front load of interest

all over again. So, people aren’t actually looking at the math the right

way. So, problem with the 30 or mortgages you’re going to pay for your home 2 or

3 times. And that’s why the second more known option before we get to my

10-year plan (I got a 5-year one too.) Is what’s called a 15-year mortgage. And

in the 15 year mortgage, what they’re basically saying is you’re going to make a

higher payment. But guess what? You’re only going to have to do it for 15 years as opposed to 30 years. So, you’re gonna pay

way less interest. And true, you are going to pay a lot less interest. But guess what?

You have a much higher payment. And you know what I hate about that? Is that

makes sense under your life circumstances today. Dude, but what happens

if you lose a job? What happens if something goes south? I know people all

day long that would love to have that extra cash flow back in their monthly

pocket but they can’t. It’s forced into the house payment. So, even though this

gets you paid off in half the time, you might have a 20 or 30 percent higher payment.

And so you pay less interest but it’s going to cost you every single month. So,

what I want to do today is I want to give you a third option. And this third

option you know for all intents and purposes is going to be the 10-year

option. You probably haven’t seen this anywhere else because I’ve been doing

this a long time and I’ve just never seen anyone else share it. So, let me help

you understand what the 10-year option is. We are not going to say, “Let’s get a

new mortgage and try to figure out a paid off sooner.” Because I don’t like the

bank’s winning at that game of paying all that interest money. I also don’t

want to do like the, “Let’s get creative and like make double payments a month.

And that’ll like cut down some interest.” Like… Okay, great. I’m not playing the

banking role. I want to actually show you how to get your house paid off in the

next 10 years and in style. Here’s what that looks like. Let’s just say for all

intents and purposes that we have a house here. And let’s just say that it’s

valued at 150,000. Let’s also say that what’s owed on it is

$100,000. So, we’re talking about a very basic modest home.

And you’re basically saying, “Dude, I want to get this paid off in 10 years. Not 15,

not 30. I have a reason for doing it sooner.

“Kris, how would you do that?” You have a little bit of

equity. Meaning that home is currently worth about $50,000 more than you owe.

And that’s important for what I’m about to show you. If your house has a little

bit of equity into it, check this out. Number 1, we’re going to get what’s called

a home equity line of credit. This is where we go to the banks. A bank,

I got equity. So, I want you to give me a line of credit like a revolving credit

card. And the bank says, “Sure, here’s $30,000.” And they’re basically saying, “Now,

if you use that, there will be a payment.” You’re like, “I get it. We’re good.” And what

you do is you find an investment property. Now, if you’ve already gotten a

copy of my book Straight Path To Real Estate Wealth. This book’s been around

for 15 years. Just got updated. This book is what… It was the basis that has led to

4000 deals that I’ve been able to do myself and help other people do. And in

that book, what we talked about is targeting properties where you can

essentially hone in on a 20% annual ROI. Now, this is important. Most

people don’t know how to get a 20% ROI but my students that work

with me get it all day long. A 20% ROI means if I were to take $30,000

out of my home equity line and put it into this property as a

20% down payment, then I would now have a rental property. And if that rental

properties earning me 20% a year on my 30 grand, then how long does it take for

me to double my money? 20%, 20% 20%, 20, 20. All out up to

100%. In five years, I’ve turned $30,000 into what? $60,000. And what can I do with that 60,000? Well, instead of just

buying one home, I can use it as a down payment on what? On 2 properties. And

over the next 5 years, that would double again and give me about $120,000. Now, let’s just pause. We took some equity out of

the property and bought an investment property. It meant that this had a

payment but the cash flow from this cancelled it out because we got a great

ROI. I took this home in 5 years and I turned it into 2. And in five more

years, I could have turned it into 4 homes. But instead,

I now have the option of saying, “No. I’m going to take 120,000.” And what am I going to

do, I’m going to pay back my home equity line and I’m also gonna pay off the rest

of my mortgage. And guess what how you got that really paid off without doing

15-year mortgage of increasing payments, not doing the 30-year mortgage and given

the bank’s their money 3 times over. What you did was you said, I accelerated

the process myself. Now, there is some risk in doing this. As others would call

it. But for me, the greatest risk is putting your yourself and your family

and financial harm’s way. Because you’re following such a conservative system

that your plan is broken and it doesn’t have the ability to create the financial

freedom that you’re looking for. That’s the real concern. So, you have to weigh

out which of the 2 is a greater risk. I’ve been doing this with people for the

last 15 years. And if you have confidence in your strategy and you know what

you’re doing, you’re going to crush it. Which is why… If you don’t have a copy of this

book, I just ordered a truckload. They go really faster on YouTube. But while

supplies last, if you click the link below, I’ll get you a free copy of this.

It’s on me. I am going to ask that you covers us the the cheap shipping on it. I

got my daughter in the basement who’s having an entrepreneurial experience

with that who like everyday like loads up all these things and then takes them

over to the post office and it’s kind of like a little fun daddy-daughter project.

But yeah. Cover the shipping for the postal and this this is yours.

And this book will go into greater detail of exactly how you find these

homes, how you do this. Even comes with a free consultation to talk to my team and

see if we can help you strategize something more customized. Because you

look at this and one shoe does not fit all but the principle is true, it’s tried

and it works. And so, my friends, that is how you get your house paid off in 10

years. Barring that you have a little bit of equity in your home. And that’s if you

don’t, we’ve got other things that we can do. In fact, in your private consultation,

I want you to say, “How can it happen at home in 5 years instead of 10 years?”

And we have a game plan for that as well. So, listen. Thanks for watching today. If

you’re not a subscriber, make sure you take care of that. Links below for

getting your free copy of the book. Talk with a member of my team or learn all

the other ways to engage with me. Take care of my friend. This is your

mentor signing out. I see you tomorrow.

Crazy how i Just looked for that awnser in the Internet

Very helpful thank you sir

Needed this👍👍👍

It’s amazing what can be done with real estate. Real estate is the ultimate answer to the broken financial game plan of society.

Can I get your book in India 🇮🇳

Hello Kris!

Can you please tell me which one is your best book in your opinion?

(apart from the book called unstoppable)

Here in the UK things have got tougher. The Buy to let game is over! Higher stamp duty, higher taxes etc.

Strats at 4:40

But u need to find a renter fast. Otherwise yr paying 2 mortgages. =O

Sooooo. Basically you buy with bank 1 hous. After 10y you end up with basically with 3.

NICE

Step 1: sell your house

Step 2: move into cardboard box.

Is there any way someone could get in contact with kris personally..via email or text?

Hi. My book order will not go through. Tried 3 times. Do I need to get PDF with the book? Thanks

You are very smart

Awesome! Fear keeps a lot of people stagnant. 👍🏾👍🏾👏🏽👏🏽

Awesome video Mr.Kris! Thank you

I have a land but i have no job to ask for a loan so that i start a real estate , tell me what can i do??

When you say the rent is a return on investment you mean minus the mortgage for the new house?

I can't imagine how many people have benefited from this guys videos

Isn't it easier to use a pdf instead of a book ?