As you all know, the economy has been taking a rollercoaster ride, tipping and turning from recession to recovery and back again.
In such conditions, it’s important to notice what the lenders are up to and take rightful advantage of it.
Right now, the lenders are starting to loosen their hand a little and are giving out more money again. Luckily for you I know methods for you to use this in your favour while being able to keep your head up.
More importantly, this article will teach you the ways which will keep you happy for a lifetime.
1. Rich banks can make you richer
Unlike popular misconception, these banks are not getting rich through you; they actually take up a completely different method of making money.
So in the simplest possible way, here’s what they do: of course the first step is you depositing the money, and then comes the part we don’t see. What the bank does is take all your loan documents and account agreements and monetize them.
Next, they take those numbers, multiply them by 9 times and invest them in the currencies market or, as you know, Forex.
Like I said earlier this is the elementary version of what really happens but I assure you the concept is the same. So, and here’s the trick, you do the same with them! Yes, that is possible.
Essentially, you will be doing what they do, in a way that works in your favour. So the first step, just imagine everything I said in reverse, instead of giving them money you will take money from them.
Of course you will be paying them say 1% monthly as interest for your loan, but on the other hand you will be earning around 15% off of it in the currencies market.
Sounds brilliant? It is, and quite easy too as you will understand soon.
2. Good credit for smooth sailing
Now that the markets are loosening up a little, it is possible to gain around 100k as a personal loan and all this becomes a lot easier if you have good credit.
Back in the boom days of the economy, 100k in the real estate business would’ve been nothing of any value. Real estate was appreciating and these figures wouldn’t even be worth your time.
However, that was under different conditions and the real estate business is a whole other scenario. What we are dealing with now is Forex and that too under a different economic climate.
Let’s start with your costs, your line of credit will what take out $1500 monthly. Okay keeping that in mind, with the same 100k you will be making returns of $15000 monthly by investing in Forex.
Imagine that! So if I can do my math right, you will maintain a positive cash flow of $13,500 monthly. And the best part is that all this was done with the bank’s money!
3. What if you don’t have good credit?
Don’t worry, there’s no reason to feel like all the doors are shutting down for you. In fact, I will talk about some very useful open ones.
There are certain places, some really extreme ones at that, you won’t bother about your credit. In case you are feeling suspicious, let me tell you that it they have reasons for this, two to be specific.
Firstly, they want to lose money for their own sake, for write off purposes. Secondly, this is probably the most important reason, like you and I most people want a second chance; the default rate being 30% so the rest 70% stay on and pay.
Frankly, to them this percentage is good enough. Either ways, it has happened that people loaned $25000 to $100,000. Then they endow that money into Forex and watch their future brighten based on large returns.
Remember to think of things simply; unnecessary complications are nothing but added stress. Everything can be done nice and easy, step by step; this includes investing in Forex.
The hardest place is always finding where to begin, once you do however your path becomes instantly clearer. I hope this article has shown you just that.