As the economy dips, rebounds, and dips again you will definitely want to take notice of what the lenders are doing. As of the writing of this article, lenders are now beginning to loosen their money lending again and this time, you should be poised to take advantage of it the right way and the way that will last you a lifetime. That's what you will learn with this article.
Using the banks money to make yourself rich
Good credit tactics to easily create what you need
Money available even without good credit
The first thing you want to realize is that banks are not making their money off of you. The first thing a bank does when you deposit money or obtain a loan is monetize your loan documents and account agreements, multiply the figure 9 times and then invest those funds in the currency markets known as forex. Yes, of course, that is an over simplified view of what really happens, but the idea is the same. What you want to do is in essence, do the same thing that they are doing, only you will do that to them. Grab yourself some of their money, pay them 1% a month for the use of their money, and then earn 15% a month off of it in the forex market. Trust this... It is much easier than you may think as you will soon see.
If you have good credit, it makes our job much easier. Right now the markets are loosening up somewhat and we are able to see personal loans up to 100k. Now, in the boom time of real estate appreciation a few years ago, 100k would be a drop in the bucket a and not even worth the time. Well, that was real estate and that was then. Now we are talking about forex investing and the economic climate now. With this simple 100k line of credit, you can make a whopping $15,000 a month in returns. Your line will cost you about $1500 monthly worse case scenario, which would leave you with a positive cash flow of $13,500 a month using the banks money!
So, you say your credit is shot huh? Well, this does not mean the end of the world at all. There are now some really extreme sources that will lend to individuals without even looking at their credit. The reason behind this is two fold. One is that they want to lose money for write off purposes and the second and strongest reason is because many people want a second chance and they see a default rate of 30%. This means that 70% remain on and pay and that's a good percentage to them. Either way it goes, we can see people obtaining $25,000-$100,000. This they then put back into the forex and start amassing their fortunes in the forex world.
Financing Forex Investing is like anything else... It is a process. The biggest thing to remember is that you have to start somewhere in order to finish at all.