Cash versus Conventional Offers

Cash versus Conventional Offers

With a competitive sellers’ market right now, it’s hard to get a leg up on other offers. If you are a buyer looking for a home, you may have lost a bid to a cash offer. They always say cash is king, so does cash automatically trump any other offer?

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Three Real Estate Trends to Expect in 2021

Three Real Estate Trends to Expect in 2021

After a real estate year like 2020, you might be wondering what 2021 has in store. Despite the fact that many markets were shut down the first quarter of 2020, it is said by experts that the surge in home sales at the end of 2020 actually made up the difference. Kinda crazy! So what’s next? While we can’t predict the future, we can make some educated guesses as to what trends to expect.

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How to Determine What you Need for a Down Payment

How to Determine What you Need for a Down Payment

Once of the most common questions I get in regards to real estate, is how to determine what is needed for a down payment. Years ago the golden rule was 20%, but things have changed. You can now purchase a home with as little as 3% down, and even 0% down in some cases! It all depends on the loan you qualify for.

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Which Payment Strategy is Right for You?

Which Payment Strategy is Right for You?

You’ve most likely heard the rule: Save for a 20% down payment before you buy a home. The logic behind saving 20% is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders

But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.

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Cash versus Financing for Investment Properties- What is Better?

Cash versus Financing for Investment Properties- What is Better?

When it comes to purchasing an investment property, there are multiple ways to do it. You can get a loan, you can use equity, or you can use cash. There really isn’t a right or wrong way to do it, it mainly depends on your goal for the purchase.

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What is Equity?

What is Equity?

Equity was something that took me a little bit to understand. I understood WHAT is was, but didn’t understand HOW it worked. So if you are in the same boat I was, let me try and break it down for you.

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How to Prepare Financially for the Purchase of your First Home

How to Prepare Financially for the Purchase of your First Home

Purchasing a home is one of the biggest purchases you’ll make, so you want to make sure you are prepared. Often times people are ready for the purchase price and down payment of a home but forget about the closing costs. The closing costs can be wrapped up into the mortgage or you can pay out of pocket for them. If you plan to pay out of pocket, that will lead to a slightly lower monthly mortgage. By paying your closing costs up front you won’t be paying interest on them for the life of the loan. So how do you prepare yourself financially for the purchase of your home?

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Paying Off Debt...FAST

Paying Off Debt...FAST

I’ve always felt I’ve had a pretty good handle on our finances. We put money aside from each pay check and we put additional money towards our debts to get things paid off faster. But between our personal debt and our business debt, it adds up. Not all debt is bad-and all our business debt pays for itself, but its debt nonetheless. Until recently it never really occurred to me that there may be a better way to pay our debts. I started doing some research and found two general methods out there, the debt avalanche (also known as debt stacking) versus the debt snowball. 

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Dabbling in Reverse Mortgages

Dabbling in Reverse Mortgages

mile up the road into another neighborhood we frequently walk. It’s an older neighborhood where the homes are filled with character. Beautiful woodwork, hardwood floors and detailed molding- I just love the features of older home, but it does come with a price. It tends to be more expensive in this neighborhood with higher taxes. Often, a lot of these homes don’t have central air and haven’t been updated over the years so that can leave a large initial investment on top of the purchase price for the buyer. So buying in this neighborhood wasn’t something we thought would happen for many years.

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Four Ways to Build Equity

Four Ways to Build Equity

Building equity in properties has been key to our success. We buy cheap, build equity, and utilize that equity for the next project. It’s the same concept whether you are buying rentals or buying a home. So here’s a couple ideas to help you get the most out of your money.

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