What was your mortgage situation prior to starting with Replace Your Mortgage?
We had a 30-year mortgage with a starting balance of $298,000.
When we joined RYM, we had $258,000 in remaining principal balance after paying our monthly payment for 4 years.
What is the current status of your HELOC and how many months did it take you to achieve it?
After 8 months (as of October 8, 2018), we have reduced our principal balance to $162,000.
We are currently on track to have our home paid off in the next 2-3 years and, from there, pay off our investment property in 2-3 years as well. From there, we will continue to invest more in real estate.
What was your biggest concern when deciding to join RYM?
Changing the traditional cash-flow strategy of having a checking and savings account and replacing it with the HELOC.
I've since then gone further and reduced 401(k) contributions because of the lack of liquidity for future investments.
How has using the RYM strategy changed your life?
This has fundamentally changed how I view my cash-flow and net worth.
Net worth used to be the measuring stick, but now understanding how to be financially "free" with cash-flow, I understand how to use leverage strategically to help my family create wealth.
What advice would you give to a homeowner considering trying the RYM strategy?
DO IT. I have advised several people to make the call, since it is a no-obligation call. qualifying clients is one of the best things RYM does. They want to make sure this is the right strategy for you to be using now. If it is not, they will not sign you up.