All Forum Posts by: Pavel Shemyakin

@Account Closed, i brought up velocity banking because Clayton was pushing this nonsense.

@David Dachtera, for the sake of not continuing to derail this thread, i will send you a PM.

Being fooled? Look dude, he simply mentioned that there was another thread where the issue was being discussed. He mentioned people that were involved in that thread. I havnt read through it and have no reason to assume which side of the discussion you are on. Pro or against. Only info i took out of his comment is that an issue is being discussed. Just like i am clearly discussing it now. Does that mean i like velocity banking? Well, based on my comments above i think its bogus at best, fraudulent at worst. If somebody goes and says "Hey, Velocity banking is being discussed in the Clayton Morris thread and Pavel is involved" How is that wrong in any way?

Dont get your panties in a bunch my man. All is well. :)

Man..... now that i think about it..... The best thing 4chan people have ever been able to do was convincing dummies to microwave their iphones! Here on BP, we got people convincing others to open HELOCS so that they can take more risk, while paying more for their mortgage! Man this **** is great! hahahahahah

Yall are wild. This is better than 4chan.

Its Thursday! Leave me alone!

@Account Closed have you posted anything in / are you a part of " "Subject To" Real Estate Investing is Slimy. Prove me Wrong" thread?

"

You have the link to that thread? If so post it. I'd like to take a look at it. There is a mini debate about the validity of that system that has broke out in the "Subject To" Real Estate Investing is Slimy. Prove me Wrong thread with @David Dachtera , Account Closed , @John Nachtigall and @Matthew Olszak

"

@Victor S.

Sorry man, i didnt read your comment correctly the first time. You said:

"This "velocity" method works, but it's not any better than simply applying additional pmts to your principal."

This in itself proves that the method does not work!

If it does the same thing as simply paying extra, what the hell is the point of introducing a LOC into the mix and complicating the crap out of your damn life?

The whole idea of "Velocity banking" is to pay same amount in extra payments as you normally would, but instead of paying directly to the MTG, you channel through HELOC, and by doing that, you supposedly pay the loan down quicker than you would without the HELOC. (This doesnt work by the way)

I just barely opened the spreadsheet you linked, and assuming its coded properly - it shows that LOC method actually SAVES YOU LESS ($77,857 vs $77.813)

So, i go back to my original statement:

I still have not seen any math that proves me wrong. I got excited when i saw the spreadsheet because i though i have something to dismantle, but it just proves me right.....

This thread has essentially transitioned to "hang out, talk **** on Clayton, argue about BS" im ok with it!

hahahahahaha

@James Wise

Better be sorry bruh!

 Flaws in that math, not in  the strategy.

If the math works - the strategy works. In that case nobody is disputing it.

As ive stated before, i have mapped out the daily interest on both 365 and 360 models in the past and could not get it to work, therefore, i am excited that @Victor S has provided a link to a spreadsheet that i can look at and compare to mine. That is all.

Now let me ask you a question:

You are about to purchase a deal. You do your DD and realize that you will cash flow $300 per month. Great! thats a great benefit!

However, upon visiting the site you realize that there was a flood, theres termite damage, the current tenant is a hoarder without a lease, and the place is in a straight ghetto.

Why look for flaws man? Just focus on the benefit!

And guess what, if the math ends up being faulty, the strategy is out of the window!