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Family Meeting 5/13/2020 - Coggle Diagram

- - - - Helps our Debt to income
        
        Feel good not owing anybody
    - - Put in reserve
        
        Make interest on the money and be able to pay if off
        
        Have leverage for financial opportunities
      - Put in stock market
        
        Make money to pay off debts or put in ally bank for interest
        
        Still have cash to pay off debts in hard times
- - - - Payments go to our overall asset column
      - You can paydown amoritzation to reduce payments an interest
      - Can get more for less
      - Can get agent to help us pay our down payment - with referral %
    - - Debt to income increase
      - Have to probably pay down payment if we don't get 100% financing
        
        Could loose some liquidity - lost of cash or reserves for business or investments
      - Could
    - - Down Payment Cost
      - Sale Price Amount
  - - - Pros
        
        Not a lot of money down
        
        You can get your deposit back
      - Cons
        
        Payments are 100% interest rate
        
        Quick transition
        
        want be held up in escrow or underwriting
        
        Can find another property if something goes wrong with the one we picked
- - - - Pay credit card
  - - - Put as down payment for investment property
        
        HomeBank or other banks
        
        Trade Debt for cash to off set
        
        $25,000 in cash
        
        $25,000 in Credit Card Debt
  - - - Pay $1,000 per month for 7 months (no interest)
    - - Save $11,000 in interest
        
        Payments: $1,500 per month or $9,000 each six months
- - - - Wash up/Change Clothes
        
        Stop through Destin or Pensocola to eat off the beach
        
        Head Home
      - Have Snacks, Drinks, Umbrella's, Chairs, Coolers for beach (also for drive there and back