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Cheap House USA – Hold Or Flip?
Real Estate Investing 101
This house was offered for $54,000.00 – per listing agent – ready for rent. Area was ok, its 3 bed/ 1 bath and can be rented for $800-1,000 per month.
Its out of my price range – we are usually buying houses that will bring 25-30% cash on cash returns ( I know we are spoiled).. But may be a great deal for you..
If you want to buy a house to live in – it may be a great option – if you put 3.5% down payment, your mortgage ( with tax + insurance) will be about $500.00..
BUY IT – STOP PAYING RENT!!!
If you want an address of agent info – leave a comment
Should I buy house now – 2020? Rent vs buy
What is the difference between renting and having a mortgage? There are many reasons why someone will justify their decision to rent vs. owning a home. The biggest reason that I have found these days is that of fear. Yes, it is the fear of home ownership that stops many people from living “the American dream”. Guess what, unless you’re living with friends or parents and not paying anything, you are contributing to your landlords mortgage. Being a landlord is such a money making opportunity, but unfortunately, you are the one making them money. You landlord most likely has a mortgage obligation and they are passing that cost on to you. Here are a few reasons why you should seriously consider owning a home instead of continuing to pay rent. 1) It makes better financial sense. When you are a homeowner, you are paying down a principal balance that you owe. When you are renting, you are paying a landlords principal balance plus a little cushion money for them. 2) Fixed-Rate Payments. If you have been renting for a while, you know that rents continue to increase year over year. With a mortgage, you won’t have that problem. You can be guaranteed your monthly payment of your 30-year fixed rate mortgage will remain the same. 3) You gain equity. You can think of equity as a savings account that increases over time. It’s a forced saving account. It happens. The great thing about it is, if you needed to borrow money in the future, you can do from its savings. Now, I can listen to every excuse on why you want to rent, but I’m sure I will have a rebuttal. As interest rates climb, when you are ready, you will look back and say, dang, I should have purchased then.
BOOKS I READ & RECOMMEND:
Secrets of the Millionaire Mind: Mastering the Inner Game of Wealth https://amzn.to/3eaAOBt
The Book on Managing Rental Properties: A Proven System for Finding, Screening, and Managing Tenants with Fewer Headaches and Maximum Profits (BiggerPockets) https://amzn.to/3gaAW5E
The Savvy Landlord: A Common Sense Approach To Real Estate Investing https://amzn.to/2WVEmla
DotCom Secrets: The Underground Playbook for Growing Your Company Online (1st Edition) https://amzn.to/3cZ3ld2
You’ll Never Get No For An Answer https://amzn.to/2TutnwY
The Book of Mistakes: 9 Secrets to Creating a Successful Future https://amzn.to/2ANSrZh
The 4-Hour Workweek: Escape 9-5, Live Anywhere, and Join the New Rich https://amzn.to/2XoFBIH
Automatic Wealth: The Six Steps to Financial Independence https://amzn.to/2ATMn1r