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How I Quickly Pay off My Properties in South Africa

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**CAR TRACK** : landing.cartra...
How I Quickly Pay off My Properties in South Africa
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Опубликовано:

15 авг 2024

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Комментарии : 218

@louisreynhardt 5 месяцев назад

Were you aware that making bi-weekly payments is actually a thing? 💵💵

@khethiwesibuyi816 5 месяцев назад

Nooooo😭😭😭😭😭 A hero!!!

@louisreynhardt 5 месяцев назад

@khethiwesibuyi816 hope it can help. Thanks for watching 💪🏻 😁

@jesuslovesyou836 5 месяцев назад

Yes but never knew that SA banks allow that

@MrEltonArendse 5 месяцев назад

Yes but never realized/researched the significant difference as laid out in this video. Informative and clear info right here... thanks Loius

@emmanuelmadi 5 месяцев назад

@@khethiwesibuyi816 Would these by weekly payments be the normal monthly amount or extra payments after the monthly installment?

@loveyabrahams5274 5 месяцев назад

This is so true i paid my bond in 3years and 8months,my bond was 630k paid a deposit of 70k,i would save my bonuses my increase every spare money I gad would go into my 32days notice account and come year end all the money will be paid into my bond account...

@louisreynhardt 5 месяцев назад

Thanks for adding value to the channel and sharing your experience. Well done for dillingntly making extra payments. Thanks for the support 💪🏻💪🏻

@nkosinathindala4745 4 месяца назад

Wow, that is exceptional 💯

@maxine6933 5 месяцев назад

Guys just pay in money in the bond account whenever you have extra cash. SA banks do not generally do split payments on bond repayments but you can try asking. Best way pay the bond as agreed and whenever you have extra cash pay it in to your bond. Home loan interest is charged daily and capitalised monthly so the sooner you pay in that extra monies the more you save on the overall interest capitalised at the end of the month.

@louisreynhardt 5 месяцев назад

Thanks for sharing and contributing to the channel. Appreciate your comment 🙏🏻🙏🏻

@franmdleleni6520 5 месяцев назад

Yep. That's the way to go. I paid off my first house within 7 years. I bought it at R400,000 in 2009. Now renting it out and I can sell it at R800, 000. My second house which is my primary residence, I got in 2017 and am almost paying off. Bought it at R560, 000. The secret is to put additional funds in whenever you get them.

@CassidyLeslie92 25 дней назад

@@franmdleleni6520🎉🎉🎉 well done

@G_404 5 месяцев назад

Bruh i just bought a property and this is simple to follow and awesome advice....Big ups to your channel

@louisreynhardt 5 месяцев назад

Well done, and congrats. Thanks for supporting the channel 💪🏻 💪🏻

@phelelanikhuluse8840 5 месяцев назад

i love that you are inclusive, aware that some people may struggle with some things. just gained a subscriber

@louisreynhardt 5 месяцев назад

Always 💪🏻Welcome my friend. Thanks for supporting the channel

@ashleyericwilliams1058 5 месяцев назад

What you're sharing with us Louis is things I believe should've been introduced to us in school! We would be so much wiser!

@louisreynhardt 5 месяцев назад

I totally agree. I can't remember any relevant life lessons from school. Hope this can spread far and wide to educate young adults. Thanks for watching 💪🏻

@amandambongwa9216 4 месяца назад

Agreed

@CassidyLeslie92 25 дней назад

So true and unfortunately some people make big financial decisions that cost them alot because lack of info and they excited to purchase their first property. I'm very happy I came across this channel and learning as I'm about to make my first investment

@DM-rm5ec 14 дней назад

Of all the videos I've watched on this same topic, this is the best! Thank you😊

@louisreynhardt 13 дней назад

Awesome. Thanks for sharing this with me. Thanks for watching 🙏🏻

@tumelo4526 Месяц назад

This man is saving the country 👏 🙌.

@louisreynhardt Месяц назад

Thanks man, you guys are the saviours .🇿🇦🚀💪🏻

@durbanbrooklyn776 10 дней назад

As a first time property buyer in 2020, i was lucky, the family was emigrating...property was R2.2M and was able to negotiate to R1.850M and they accepted, i knew they were desperate. I took the R2.2M Bond i got used difference for rennovations to my taste, rented it out in two months after sale and in 3 and half years ive paid it off, as i knew the Intrerest rates will eventually go up and i didnt want to be caught inn that whirlpool. I turned my property into 3 apartments and I make R20K p/m on rentals...Hours is Paid up and i have paid myself back the extra money used towards rennovations. Yes paying off your Bond is Queen😂. Now im ready to buy my next property i can also convert into apartments in the costal area cos everyone loves the sun and the beach Right🤷 It's 10x easier to get renters with costal properties, well that was my experience anyway...Good luck to us all and God Bless❤

@louisreynhardt 6 дней назад

Well done, and thanks for sharing. Buying from motivated sellers is the best way to buy property. This makes and saves you a lot of money. Congrats, and thanks for adding value in the comments 💪🏻

@nomafmaroga6827 5 месяцев назад

I love the car track ad😅😅😅

@louisreynhardt 5 месяцев назад

Thanks for commenting on that haha 😄 appreciate the support.

@atsile1 4 месяца назад

Bathong I got confused 😅I was like did I just open another video by error🙊🫣🤣

@luyandamaboea1664 4 месяца назад

Only 5 min into the video, I immediately subscribed. This information is gold, thank you for sharing

@louisreynhardt 4 месяца назад

Thank you very much and welcome to the channel. Just keep learning. All the best 💪🏻💪🏻

@andrewmatthews6669 Месяц назад

Louis may God bless you and your family and thanks SO MUCH for all your help ALWAYS

@louisreynhardt Месяц назад

Thank you for the compliment and for supporting the channel 💪🏻

@kreativekraal 5 месяцев назад

Whats up Louis? Is guyz here. Yoh got me the first time, i thought you missed it in post. I really enjoy your content. Keep up❤

@louisreynhardt 5 месяцев назад

Thanks my friend. I appreciate it. Hope I can teach and put a smile on your face. Then im happy 💪🏻💪🏻😁😁

@katlegoratshidi5070 5 месяцев назад

Had No idea about the bi monthly payments but it’s definitely something I’m keen to try out. Thank you for this informative video

@louisreynhardt 5 месяцев назад

Glad it can help. Thanks for watching 💪🏻

@lehlagaremogadime7494 5 месяцев назад

This a very short but powerful with lots of useful info. Thanks Louis.

@louisreynhardt 5 месяцев назад

Thanks my friend im glad it can help. Thanks for watching 💪🏻

@KijosDad Месяц назад

This was such an informative video, thank you SO much! I wasn't aware of all the extra options to reduce payment term.

@louisreynhardt Месяц назад

Huge pleasure. Thanks for watching 🙏🏻

@user-ks7rl5ne6q 2 месяца назад

The production value is sublime 👌👌well packaged videos, well done you 👏👏👏

@louisreynhardt 2 месяца назад

Thank you so much for the positive feedback. Appreciate the support 🙏🏻

@Davidxpiano 5 месяцев назад

Knowledge is truly King. Thank you Louis.

@louisreynhardt 5 месяцев назад

I agree, thanks my friend 👊🏻

Месяц назад

Thank you for educating me...this will help in any debt. a person has.

@louisreynhardt Месяц назад

Pleasure. Yes it will 💪🏻💪🏻

@siphosymposiummadikizela3733 2 месяца назад

Not even finish watching the video, I just subscribe# keep it up bro

@louisreynhardt 2 месяца назад

Welcome to the channel my friend. Hope you can learn a lot 💪🏻💪🏻

@Theblackglove1992 4 месяца назад

I only watched the first video and subscribed this is free information thanks

@louisreynhardt 4 месяца назад

Thanks for the support and welcome to the channel 💪🏻 💪🏻🇿🇦🇿🇦🚀🚀

@Game_Showz 5 месяцев назад

I'm enlightened. Thank you.

@louisreynhardt 5 месяцев назад

Pleasure my friend 👊🏻 😎

@amandamalefo3563 Месяц назад

This is really informative!!!Thank you

@louisreynhardt Месяц назад

Thanks so much for watching 🙏🏻🙏🏻

@thierryhector7043 Месяц назад

Great and informative video. I do however ask if this video is intended for property investors or the general public? If it's for investors, would it not be better to spend the minimum possible on your property debt as your property investment achieves a higher growth than what you would be saving. i.e the R50k lump sum would achieve a higher return if placed in another property deal if the net profit yield is greater than the prime interest rate.

@louisreynhardt Месяц назад

Its basically focused on people trying to reduce their debt and follow the strategy of paying their properties quicker. If you can beat the interest rate elsewhere it will also make more sense. But most people wont be able too

@GracenTrue 5 месяцев назад

I have been so scared to buy property...im so glad i found this channel.

@louisreynhardt 5 месяцев назад

Keep on learning my friend. Take calculated risks and dont stop growing 💪🏻

@reabetswengobeni4783 4 месяца назад

The Bi-weekly payment option is definitely underrated. I didn't realize the same bond amount split into 26 fortnightly payments results in such a huge saving! Will definitely be implementing this method 💯. Where can we get the calculator you used showing bi-weekly payments scenario? Haven't come across such a calculator before seems pretty handy

@louisreynhardt 4 месяца назад

Thank you very much for the positive feedback. You can juost google bi-weekly payment calculator, and you should get a couple of different options. 💪🏻💪🏻

@madamefofo7280 23 дня назад

Very informative. Thank you. What happens if I split my monthly bond repayment into 20 payments? Therefore, I'm basically paying my bond every single working day of the month.

@louisreynhardt 22 дня назад

In theory, this is great , but the fees will kill you at the end of the day. Unless you want to make a manual payment every day. You will also have to arrange with the bank in some way, which I dont think is possible.

@xolelafaas5784 5 месяцев назад

Louis the legend!!!💪🏾

@louisreynhardt 5 месяцев назад

Thanks for the support 🙏🏻 🙏🏻 🙏🏻

@dingaanmekhoe5268 5 месяцев назад

Your content is sharp and informative. You just got a subscriber. I am going to try this.

@louisreynhardt 5 месяцев назад

Means a lot. Thanks for supporting the channel 💪🏻 💪🏻

@liciouslicious6808 4 месяца назад

Thank you for sharing your knowledge. Just subscribed

@louisreynhardt 4 месяца назад

Welcome to the channel and thanks for the support. Share it with your friends and family 🙏🏻🙏🏻

@TinyFord1 5 месяцев назад

Yeah! You said “it’s Louis” and not guys. I just Subscribed😂

@louisreynhardt 5 месяцев назад

Welcome my friend 💪🏻 🤣🤣

@stilloutside 5 месяцев назад

Necessary education ❤❤

@louisreynhardt 5 месяцев назад

I agree, thanks for watching 💪🏻

@sihlemasondo2898 4 месяца назад

Thank bro great content now we know to tackle a bond coz it can the most expensive and heaviest burden in life lol

@louisreynhardt 4 месяца назад

Pleasure my friend. Knowledge is power 💪🏻💪🏻

@jacksprat429 3 месяца назад

If you were able to pay double what the premium is, you could pay off your loan within 5 to 6 years.

@louisreynhardt 3 месяца назад

Absolutely, I think this is very hard for most South Africans but it's definitely possible. Thanks for sharing.

@keithingle2119 2 месяца назад

Great video - quick question, you may have answered in a previous video, with the access bonds, why do you prefer to keep your term the same and drop your repayments vs paying the same monthly and shortening your term?

@louisreynhardt 2 месяца назад

I prefer to always have access to the equity without having to pay for it. If you use the first option you effectively pay for the new debt (refinanced amount) without actually using it. Also im young and dont plan to settle my debt any time soon. But this is different for everyone

@kyleniekerk 5 месяцев назад

Hi Louis, when making extra payments like you mentioned of R500, when in the month is the best time, would it be mid month to act as a bit of a by weekly scenario or should we be making those payments the same time the normal bond debit order goes off

@louisreynhardt 5 месяцев назад

I would say the same day as your debit order so that that amount goes directly to your principal debt, reducing your overall interest. ( You can set up a higher debit order), or you can also do it during the week, but you will have to manually pay or set up a stop order. Tbh im not sure which one will perform the best.

@brandonpypers4747 5 месяцев назад

Hi Reynhardt.....I bought a property and I am living in it for about 7 months ......For R680 000 I paid diligently and on time everytime ....if I were to sell the house now ..how much would I owe the bank

@kyleniekerk 5 месяцев назад

@@brandonpypers4747 depends on how much you sell for, if you sell for the same amount you owe then nothing (unless admin fees). If you sell for me than you owe then you make a profit.

@andrewmatthews6669 Месяц назад

Hi Louis please need your help here Please help me what would you suggest paying a 30% more on your bond or rather paying that 30% bi weekly Please.

@louisreynhardt Месяц назад

I would say the once off payment will make an immediate impact, and you can still have access to the lump sum . Just make sure you choose or use the right access bond type

@jeandesisnards5097 4 месяца назад

Hi Louis, Can I ask if you can do a video on the pro's and cons'of buying vesus renting?

@louisreynhardt 4 месяца назад

Sure, check out my property playlist. I made 2 videos about this very long ago. I will consider doing an updated version. Thanks for supporting the channel 💪🏻

@masigcinanemteki9760 12 дней назад

I paid off my loan but putting all these small money that I was getting

@louisreynhardt 6 дней назад

Well done and thanks for sharing 👊🏻 👍

@lindelwahlela1851 2 месяца назад

I once heard you can also pay daily but i am not sure banks would allow that. Do you know of daily payments as a possibility?

@louisreynhardt 2 месяца назад

You can effectively setup daily stop orders, but a stop order is usually around R20 per stop order, so it will defeat the purpose. You can make manual payments, but I dont know of anyone that has done it before.

@MrsDyarvane 2 месяца назад

Hi Lious, great video. We are learning so much thank you! Is it possible to buy property at an amount lower than its market value, then ask the bank for equity on the difference ? E.g if you bought a house for 1.2 but it’s worth 1.5 then get 300k equity in your access bond ? I hope my question makes sense. If yes could this be used for your benefit to lower the interest you are paying ?

@louisreynhardt 2 месяца назад

Absolutely, there is just a couple of key points to understand. I made a video about it that will answer your question. ru-vid.com/video/%D0%B2%D0%B8%D0%B4%D0%B5%D0%BE-P64KVoWqkC4.html

@MrsDyarvane 2 месяца назад

Thank you Louis, just watched the video now.

@Awhe 5 месяцев назад

Hi, I really found your video very informative.

@louisreynhardt 5 месяцев назад

Im so glad to hear. Thanks for watching 💪🏻

@keithjulie7873 5 месяцев назад

@3 mins in - not true. If you increase your payment by x amount as an extra payment, the repayment amounts are recalculated over the remaining years left and your pay-in will be less thus making this exercise futile. You would have to look closely at the repayment amount as stipulated by the bank and increase your extra pay-in as the bond amount decreases... Hope this makes sense? In my opinion, the best way is to approach the bank and ask to reduce the remaining term of your bond. This way your repayment increases and if possible an extra few hundred will make a massive difference. This is obviously my experience.

@louisreynhardt 5 месяцев назад

Yes, you are right, but my statement is based on the first access bond option. You can choose between the 2 options depending on your strategy. If you want to reduce your term, you can use the 2nd option. I just dont use the option to reduce my payments because my overall goal is not to settle the debt. But thanks for sharing and adding value to the comments. Appreciate your input 💪🏻

@keithjulie7873 5 месяцев назад

@@louisreynhardt thanks Louis for setting the record straight. When I bought my property more than twenty years ago we didn't even know of this option. However, my wife and I had the same idea and was able to reduce our term to a more manageable eleven years - while still paying a few extra hundred in the middle of each month. It has worked so we managed to buy another property in Cape Town. Love your honest and reliable show - keep it up!

@terencephilipstrydom4838 5 месяцев назад

Great advice!❤

@louisreynhardt 5 месяцев назад

Appreciate the feedback Terence 💪🏻💪🏻

@antoinemuskat5557 2 месяца назад

Please share the link to the app you using to calculate the bond savings

@louisreynhardt 2 месяца назад

You can simply google " extra bond payment calculator " 💪🏻💪🏻

@julietranoko947 5 месяцев назад

Thank you for great content, I've doing the weekly payments with ABSA, it didn't work, please share on how to go about that,

@louisreynhardt 5 месяцев назад

Which access bond option did you use? And what do you mean with it didn't work? This is also something that takes a bit of time to compound . Let me know 💪🏻

@Noahjen2472 5 месяцев назад

Can you make a separate video explaining which bank and how to liaise with the bank for this method

@SpartanHighKing14 5 месяцев назад

Hello. I have a question. Will the bank penalize me if i take out a 30year mortgage and pay it off within 15-20 years? Because it almost seems like a cheat code because we're cheating the bank out of earning more interest from us.

@nesangovender8186 5 месяцев назад

@louisreynhardt 5 месяцев назад

No, they won't , not unless you settle the entire bond. I suggest to always keep the access bond facility open for Liquidity. But yes it is a life hack. I always take 30-year bonds. You can pay a 30 year bond in 20 years but you can't pay a 20-year bond in 30 years.

@everydayshid 4 месяца назад

just a question wrt properties, you say you work on the 1% rule? This includes the levies & rates/taxes... does this include Insurance - and could you give the average amount that you spend on property insurance?

@louisreynhardt 4 месяца назад

The 1% rule is like a simple gross yield. It doesnt include rates and levies etc. Its just a very simple formiula to quickly define goor or bad deals. Property insurance varies depending on the property.

@shahedcassim7392 5 месяцев назад

So basically you just created the stop order or scheduled transfer like fnb etc etc instead of doing manual transfers lol. But yeah I think if some people have that in place then they’d commit more towards paying the loan faster as having will power to manually do it could be a tad bit more difficult for some

@louisreynhardt 5 месяцев назад

Bi weekly stop orders yes. They wont allow only manual payments. You need to set up some sort of debit or stop order and additional payments can be made manually

@segametsijanerakomane5547 27 дней назад

The best option is to never over extend yourself. Pay extra amount to flexi account. Paid my primary residence in 6 years, and it brings so much financial freedom. Keep up the good work.

@oriyomiadegbesan9022 2 месяца назад

Will paying bi weekly also impact personal loan interest and payment terms.

@louisreynhardt 2 месяца назад

Great question, Yes, it will absolutely reduce your interest and term. But Im not sure if you can set up these payments with personal loans.

@mabilele 4 месяца назад

Good day Louis,my name is Miyelani,I tried to call Standard bank to make biweekly payment on my bond and they told me that the system doesn't allow them to change it to biweekly,it only allows monthly payments.please help me in that regard.I have the name and the reference number of my call.

@louisreynhardt 4 месяца назад

I would suggest going into the bank and speaking to someone in person. You have to state that it will be a stop order every second week instead of saying it's a bi monthly debit order. Make sure you speak to a sharp banker . Goodluck

@mabilele 4 месяца назад

@@louisreynhardt thanks for the response,I'll go back but what I don't understand is that with my first property I didn't have these issues and it took me 7 years to pay it off with biweekly payments and of cause with a bit of extra cash.

@siyabongazamisa2303 5 месяцев назад

great one

@louisreynhardt 5 месяцев назад

Thanks my friend 👊🏻

@GerhardSwart-ft5en 3 месяца назад

Hi Louis, thank you for your videos. I really enjoy them. I have a question. You are talking about flexi reserve no1 and no 2. My current loan is no2. My monthly payments stay the same when I put extra capital into my loan. I bank through ABSA. Do you know if it is possible to change it to no1, where my monthly payments will go down and my loan term stays the same? Thank you

@louisreynhardt 3 месяца назад

Thanks for your comment brother. Yes you should be able to change the option. ( every bank has its own name for these facilities) the one I used as an example was StandardBank. You should be able to simply change the option with your banker.

@GerhardSwart-ft5en 3 месяца назад

@@louisreynhardt Thank you for the quick reply. Appreciate it. Excellent channel.

@tebogomotsamai3501 4 месяца назад

Not sure if i am slow but how does the Bi-weekly help with cutting down the loan term if i am still paying the same amount? help needed please.

@louisreynhardt 4 месяца назад

Not at all, just remember there's no such thing as a stupid question. It simply means you will make payments every second week, reducing daily interest and resulting in 26 weekly payments or 13 monthly payments in a year instead of 12 in a year.

@TEG_Kev 5 месяцев назад

Don't know if it's your setup or an issue on my end, but your sound output volume is a little soft brother

@louisreynhardt 5 месяцев назад

Thanks for commenting. But no, it has to be on your side. The quality of the video is perfect, and all the settings are correct.

@briansithole1218 5 месяцев назад

Mate you've gain a new subscriber. I will be in touch soon

@louisreynhardt 5 месяцев назад

Thanks my friend. Welcome to the channel 💪🏻 💪🏻

@Mogotsi_P 5 месяцев назад

Does it make a difference when you put money in an access bond weekly instead of monthly compared to changing the initial monthly repayment??

@louisreynhardt 5 месяцев назад

Depends on which access bond option you use. But effectively it should make a difference if you lay more than the initial bond amount.

@nowelaZA 5 месяцев назад

The amortisation effect, basically.

@louisreynhardt 5 месяцев назад

Yeboo

@landofthesheep 5 месяцев назад

Great video Louis, what are your thoughts on being charged early settlement fees ?

@louisreynhardt 5 месяцев назад

I feel its unnecessary, but it's easy to avoid. Just never completely settle the bond. Always have the bond open so you can always access your extra money in your access bond for other investments. Then they won't penalize you. Hope it helps

@Born_A_Star 5 месяцев назад

Is it possible to make a video about this? @@louisreynhardt

@user-ki3vp9up4v 5 месяцев назад

Thanks for the content, informative. How do I do bi weekly payment

@louisreynhardt 5 месяцев назад

Pleasure. 💪🏻 You will have to talk to a banker to setup bi weekly stop orders and remove the debit order.

@Noahjen2472 5 месяцев назад

@@louisreynhardtwhich banks specifically allow this method?

@wtfisthishandlebs 5 месяцев назад

Legend ❤

@louisreynhardt 5 месяцев назад

💪🏻💪🏻💪🏻🏆🏆

@bevanweber4471 5 месяцев назад

Hi thank you for your videos. Can you plz make a video on trading hrokers who offer the most amount of margin for trading stocks especially

@louisreynhardt 5 месяцев назад

Pleasure my friend. Unfortunately, I do not trade or invest on margin, so I dont have any experience with that. I simply use brokerages like Easy Equities to invest over the medium to long term . Feel free to suggest any video ideas regarding investing in stocks 💪🏻

@zeroasie9368 5 месяцев назад

So I must ask them to cancel the debit order and make a stop order ?

@louisreynhardt 5 месяцев назад

Yes effectively. But you just need to make sure you work with a sharp banker so they understand what you want to achieve.

@latsolatso6378 5 месяцев назад

Can you please advice how one can go about notifying the bank on changing payments to daily to cover the interest and bond payments. Am saying dividing the payments to a daily payment. The 500k bond 5K monthly divided to daily payments . Creating an auto payment schedule.

@louisreynhardt 5 месяцев назад

You will have to go and speak to a banker. They won't allow daily payments. You will have to negotiate to set up a bi-weekly stop order. This is different than a debit order. Make sure you have a good and sharp banker to help you.

@nesangovender8186 5 месяцев назад

@@louisreynhardt I had revolving loans... I could pay in whatever I wanted when I wanted... didnt have to discuss anything with my banker... I kept the original loan payment amount and frequency the same and maintained the debit order and added in spare cash when I could.... saved a fortune in interest

@tshililomugovheli2717 5 месяцев назад

Just throw that money in to your bond account whenever

@Formula1-Dave 5 месяцев назад

How realistic or feasible is it to TRY to treat a 500k home loan like a 5 -7 year car loan?

@nomafmaroga6827 5 месяцев назад

It is doable. I am doing with with my bond. But you must be prepared to starve yourself 😅. I'm doing it to move to a bigger house in 4 years.

@muzinkosi9773 5 месяцев назад

It’s highly possible. I took 60 months bond for R1.3m house with a R200k deposit that we had saved in 2021 and i’m paying R23k monthly instalment instead of R14k that I would have paid for 20 years and today i’m left with 27 Months to finish the bond & regain my freedom. Banks will never propose such alternatives for you and they’re available & doable as Noma mentioned.

@Formula1-Dave 5 месяцев назад

@@nomafmaroga6827 nice!

@Formula1-Dave 5 месяцев назад

@@muzinkosi9773 this is awesome!

@louisreynhardt 5 месяцев назад

Very realistic 💪🏻💪🏻

@no0bgamer_419 5 месяцев назад

Hi, firstly great videos, very insightly, But a question, I am a looking into property investments while i am still young(22) and have a few questions or need some guidance, is there anyway i can reach out to you for some guidance ?

@louisreynhardt 5 месяцев назад

Thanks for watching, and well done for starting at such a young age. You will be miles ahead of others if you continue to learn. You can pop me an email at louisreynhardt@gmail.com or you can also consider enrolling in my property course To secure your spot, simply click payhip.com/LouisReynhardt and follow the easy registration process. Otherwise, keep on watching free content like this and rrad as much as you can . All the best my friend.

@francoisvandermerwe8790 5 месяцев назад

How does the bi-monthly payment strategy work? I can't see how paying the same amount split in two will cause that affect?

@louisreynhardt 5 месяцев назад

Interest is calculated daily on your outstanding debt. So reducing your debt 2X a month reduces the overall interest. You also end up making 26 weekly payments, which results in 13 monthly payments also reducing your interest. By reducing your overall debt, your interest goes down. Instead of accumulating interest for 30 days , it only accumulates for 15 days, therefore reducing interest charged. You can also google it for a better explanation. Hope this helps.

@francoisvandermerwe8790 5 месяцев назад

@@louisreynhardt thank you for the reply!

@thatperson1818 5 месяцев назад

Is there a difference between 26 biweekly payments and 13 monthly payments?

@louisreynhardt 5 месяцев назад

Great question. Yes, there is a massive difference. Interest is calculated daily, so making payments more often ultimately reduces the interest charged on the principal debt because your debt will reduce every week instead of every month. Thanks for watching 💪🏻

@lulamaroxar8589 4 месяца назад

Can you be my mentor with charges your knowledge is gold.

@louisreynhardt 4 месяца назад

Sure, my friend, you can pop me an email at louisreynhardt@gmail.com, or you can always consider my property course with the mentoring option. To secure your spot, simply click payhip.com/LouisReynhardt and follow the easy registration process. All the best. Keep learning

@thatomohapi5956 4 месяца назад

Can the same be done with car finance???

@louisreynhardt 4 месяца назад

It should be possible but i haven't done it with car fiancee. I dont think Bi weekly payments will be allowed.

@nizamsheik69 4 месяца назад

can i have the website for the calculator

@louisreynhardt 4 месяца назад

You can just google extra payment calculator. Let me know if you can't find it.

@willemvos3088 5 месяцев назад

Hi Louis do I do the payments every 2 weeks with a debit order?

@louisreynhardt 5 месяцев назад

Unfortunately SA banks dont allow this so you will have to negotiate to set up a "stop order" every second week. Make sure you get a smart banker who can help.

@matthewdebeyer 5 месяцев назад

Great video. Which bond originator have you had the best success with in South Africa?

@louisreynhardt 5 месяцев назад

Thanks for watching 💪🏻 I use "my home loans" It's important that the person helping you understands your excat goals and situation. Try to build a good relationship with that person.

@marcdevilliers2182 5 месяцев назад

bi-weekly ... twice a week, fortnightly... every 2nd week ?

@louisreynhardt 5 месяцев назад

Every second week, meaning 26 times a year total 💪🏻

@calmingbabysleep1256 5 месяцев назад

What about home owners insurance? Ive looked and seen it starts in the thousands of rands. That takes major gains away..

@louisreynhardt 5 месяцев назад

Do you mean home insurance for your goods or insurance for the building or insurance against defaulting or job loss ?

@calmingbabysleep1256 5 месяцев назад

@@louisreynhardt either/ all. This needs to be taken into consideration, surely. How come it was not included? You don't have insurance?

@louisreynhardt 5 месяцев назад

@calmingbabysleep1256 its not relevant to this specific video. Also its only necessary for free hold properties because levies include building insurance. Home goods insurance is a personal expense and does not form part of my investments. Check out some of my other property videos where I do ROI calculations then you will understand.

@calmingbabysleep1256 5 месяцев назад

@@louisreynhardt I will watch them. What insurance do you have?

@calmingbabysleep1256 5 месяцев назад

@@louisreynhardt I'll watch them. What insurance do you have on properties? How much is that?

@thebaddie391 5 месяцев назад

Are these bi weekly payments allowed in SA ?

@louisreynhardt 5 месяцев назад

Yes they are. I use it. . You just really need to motivate your reason. You will have to set up stop orders so it won't be a debit order. Make sure you have a sharp banker.

@marlonadams2455 5 месяцев назад

Hi Louis, awesome content, what is the calculators you use, to calculate the savings?

@louisreynhardt 5 месяцев назад

You can just google extra loan payment calculator and look for a South african site ending with co.za They should do the trick

@donaldgray2128 5 месяцев назад

Should it not be called WORST BOND THEN

@louisreynhardt 5 месяцев назад

🤣🤣🤣

@mallickjardine5828 5 месяцев назад

Please tell us which bank allows you to make bi -weekly payments

@louisreynhardt 5 месяцев назад

I have done it with Standard Bank. But you will need to motivate why you want to do it. Also, it will be stop orders and not a debit order.

@-tmt-7312 5 месяцев назад

10min video in 1 sentence = Pay more money monthly & a lump sum to reduce loan term.

@louisreynhardt 5 месяцев назад

You clearly did not watch the whole video.

@maxine6933 5 месяцев назад

😂😂😂True.

@-tmt-7312 5 месяцев назад

No need to, saying potato in two different ways, it stays potato@@louisreynhardt Paying R5000 monthly or R2500 bi-weekly is exactly the same thing.

@louisreynhardt 5 месяцев назад

Haha its not the same thing. Interest is calculated daily. Go do the math. Otherwise move a long

@futurecloudgamer2325 5 месяцев назад

1 sentence doesn't make money like a 10 min video and that money can be used to pay down a bond quicker or buy another property..😏

@landrover-ib7wo 5 месяцев назад

Bro seriously😂😂😂

@user-hk1ky6ts6m 5 месяцев назад

Interesting

@louisreynhardt 5 месяцев назад

💪🏻💪🏻

@maxine6933 5 месяцев назад

Quite young😮 Are you below 40 years?

@louisreynhardt 5 месяцев назад

Haha im 28 , do I look 40 years old ? 🤣😪🤪

@maxine6933 5 месяцев назад

@@louisreynhardt you are too mature lol. I did not think you are younger. I love your channel ...

@ckp3118 5 месяцев назад

Ek het laas jaar ñ video gesien van ñ man wat sê betaal elke dag ñ bedrag op jou huislening. Dit neuk die algoritme blykbaar op en jy betaal minder rente.

@louisreynhardt 5 месяцев назад

Dit kan werk want rente word bereken daagliks. Maar dink net gou aan al die moeite as jy bv. 5 of 10 plekke besit. Ek sou eerder stick met wat ek genoem het in die video. Dankie vir die deel 💪🏻