Borrow Smart Repay Smart : A 7-Step Guide

by Todd K. Ballenger

Book Overview

From 2001 to 2004, the average U.S. stock portfolio dropped 34%, while the average U.S. house value increased 21%. From 2005 to the present day, we've seen the stock market recover, real estate face... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0978884507
• ISBN13: 9780978884505
• Release Date: April 2017
• Publisher: BSRR Publishing
• Length: 211 Pages
• Weight: 0.80 lbs.

Customer Reviews

An eye Opener

Wow, what an interesting book! This book goes against traditional thinking about your house. This book really shows you the true cost of borrowing. And the impact that any extra wealth that is found by managing your mortgage can influence, escalate your plans of paying your home off earlier or adding to your retirement plan. What a simple but profound idea! This will make the perfect gift for anyone you want to bless financially with good sound wisdom.

A balanced approach to managing your borrowing.

Books on this topic are often too deep into mortgage lending, or too deep into financial planning. I found this book balanced the two very well. It doesn't try to talk you into a product. It guides you to better understand what questions you need to consider to determine what is right for you. The first half of the book is basic financial planning concepts that are applied to an investment in the house. The second half of the book is more of a step-by-step process to incorporate these ideas into your unique personal situation today. The abundance of charts and graphs help make the numbers more accessible. Most of this information is not something you would just think about on your own - but when you read it and think about your situation it makes a lot of sense. While this book would be great for me before I bought my first home, it is required reading for anyone that wants to consider their house as part of their wealth that needs to be managed.

Shawn Perkins

Finally a book comes along that shows the role that the house should play in a financial plan. This book will expose the reader to practical and innovative strategies that any homeowner can utilize to expand his or her ability to build wealth. There are many very key ideas presented that most people go through life without ever knowing. Ideas such as the difference between investing in assets versus liabilities, the importance of safety and how to protect your equity from depreciation, how banks think about money versus how homeowners think about money, the significant role of liquidity in your everyday life, the concept of EPR(tm) and the role it should play in your borrowing decisions, and, finally, the difference between market risk and discipline risk. I have been teaching many of the concepts in this book to my clients for years and this book puts them all in an easy to read and understand format and should be mandatory reading for both homeowners and potential homeowners alike. It is likely that more wealth will flow through one's house than all of their other assets combined and that understanding how to manage that wealth and its associated cash flow may well determine whether or not one will achieve financial independence. I recommend this book to all of my clients. The 7-Step Borrow Smart Solution is a wonderful process that provides all of the necessary tools for deciding which way is the best way to finance your house. Most people don't even know that there are things to consider besides interest rates and loan fees. I want my clients to understand that a owning a house could affect many areas of their financial life and that there is a new and better way to evaluate their money decisions. This book gets an A++ and is long overdue.

Borrow Smart

Borrow Smart Retire Rich Jeff Thomas - www.lendingsolutions.net The book is well thought out and easily explains that rate is not the only factor when it comes to refinancing or purchasing a home. The book explains the many different factors involved and the thought process that should be used with each step. The EPR explanation drills down to where one should think about investing their money. If the emotion is removed from the decision of where to invest ones money, then typically the correct decision can be made. I recommend this book to all of my clients. The 7-Step Borrow Smart Solution is a wonderful process that provides all of the necessary tools for deciding which way is the best way to finance your house. Most people don't even know that there are things to consider besides interest rates and loan fees. I want my clients to understand that a owning a house could affect many areas of their financial life and that there is a new and better way to evaluate their money decisions. This book gets an A++ and is long overdue. Todd is a personal friend of mine.

Whether you are a seasoned homeowner or just a renter on the edge of buying decision, you need to kn

Lack of solid financial education and knowledge in today's society is pretty common these days in our society, and living very busy lives by the end of the day most of us simply do not have the time or energy to acquire financial knowledge. That is why the vast majority of people are in a great need for a solid financial advice and guidance that can make a difference in our lives. You will be forced to look at your financial live from totally different angles and newer perspectives, and perhaps to answer the questions you have never been asked before. Reading this book will help you to break down the barriers that have led you to financial misconceptions in your previous live, and will give you new knowledge and, more importantly, the confidence to apply this knowledge in a new, more practical way, and to get the results you always wanted to get but thought that they were impossible to obtain. You will be able to see that mortgage can be used as a powerful financial leverage instrument that can be employed to accomplish seemingly unobtainable before goals such as lack of funds for comfortable retirement, college education for kids. Any balance sheet, being that of large company or an individual, has two sides: assets and liabilities. For really long time traditional financial planning model focused only on the management of assets side of balance sheet consisting of well-known classes of financial asset like stocks, bonds and mutual funds, etc. The real estate as an asset class was ignored. What makes real estate interesting as an asset is the fact that it can be viewed as a double-edged sword: it is an asset while it has liabilities attached to it in the form of mortgage. For most homeowners the biggest financial asset on their family balance sheet is definitely their home. Therefore, the mortgage attached to the house becomes the family's largest liability. In fact the mortgage payment combined with property taxes, insurance and other home related expenses can easily consume as much as 60% of one's after-tax income. The irony is that managing those largest amounts on one's balance sheet and largely affecting one's budget for the most part were simply ignored by traditional financial planning model and financial planners. This book fills all the gaps in that outdated system of financial planning!