A fellow real estate investing YouTuber, Denzel Napoleon Rodriguez, reached out to me in a comment on another video, asking me to critique one of his videos. I asked him which video he wanted me to watch, and he gave me this link: https://youtu.be/nIOy0rlN-XI For the most part, Denzel focuses a lot of his attention on the concept of velocity banking. I've had several other people reach out to me and ask to discuss velocity banking. Seeing a trend, I felt this would be a good opportunity to work "with" Denzel and help you, my audience. My opinion on velocity banking is that it can be a quick way to pay off your debts, including your mortgage, but it can also be a way to open yourself up for failure by adding more debt to the pile you're already trying to destroy. Having said that, if one is determined, dedicated and disciplined, that person can be just as effective, or moreso by just applying all their leftover income after each paycheck toward their debts, including their mortgage. Here's the excel spreadsheet I created for this video: https://docs.google.com/spreadsheets/d/1lNZyN2ZkkLIKp_e-4fhxNtGgr_hFrgp3iRdAlqWDmak/edit?usp=sharing If you want to enter your own numbers into the equation, feel free to by simply downloading a copy onto your own computer first, then making adjustments. If you have any questions, concerns, or cheap shots, please comment down below! I appreciate single clicks on the like and subscribe or double clicks on the dislike. ;) Thank you for watching! To see my other channels, go to http://www.WatchBobOnYouTube.com
Velocity Banking-The Good, Bad, and Ugly
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