Friday, October 24, 2008

Bail Out!

Ok, so the government is trying to figure out how to get this economy rolling again ... I can tell you this, I am still servicing people who are buying and selling real estate. Personally, I see opportunity in the properties now selling for far below the long term value they represent, for instance: If I was to go out and buy 10 homes now for under $100,000. then rent out those 10 homes each for $750 per month for 10 years [$750. X 12 mo = $9000. X 10 yrs = $90,000.] I would essentially bring in $90,000 in rent (PER UNIT) all while paying down the mortgage. So if in 10 years I choose to sell that home it will surely be worth more than the $15-20,000 that is left on the original mortgage. Hypothetically: say I can sell that home at the end of 10 years for $125,000... that would be a profit of $105,000. [$125,000 - 20,000 still owed on the mortgage = $105,000] now multiply that buy ten houses and you are looking at a profit of (up to) = $1,050,000.00 One million, fifty thousand dollar profit.(That's not counting the tax deductions, depreciations, etc.) What if that same home is worth even more? Think it can't be done? It can. You can't find any bank that can give you that kind of return on your investment. Call me, I can get you started. I personally own 2 homes, but intend to have more, real soon. If the government isn't going to bail us out, we will have to do it ourselves. Create a real estate portfolio plan. Call text or email, planning is free. Speaking of planning ... plan on getting out to VOTE on Tuesday, November 4th!

Friday, October 10, 2008

Economic Down Time

I know the tv says things are really bad for "Wall Street", but thank goodness not everyone falls for the "hype". I still have sensible people calling in and buying homes. Today more than ever, the safest place for your money may well be in your own home. Buyers are getting mortgages they can afford, lenders are carefully lending money to borrowers who can repay them and homeowners who didn't pay too much for their credit or mortgage or home in the first place, are all doing just fine. Granted, we could all use some relief from the high prices of gas, oil, and goods, but on the whole if you have been making good decisions all along, you'll be ok.
Remember to get out there and VOTE in November, or don't complain about the government!