$25M in Debt...I Love it!
$25M in Debt...I Love it!
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The speaker is in debt for $25,486,000, which requires them to pay $127,480 per month to private lenders and banks. However, they also own $40 million worth of real estate that they wouldn't have if they weren't in debt. This means they have $15 million in equity due to the debt. The debt also allows them to own cash-producing real estate that generates $287,812 per month in rent, which is more than enough to cover their debt payments and other expenses, with positive cash flow left over. The speaker believes that being in debt can be good because it allows them to create wealth without using their own money.
The speaker is in debt for $25,486,000, which requires them to pay $127,480 per month to private len