Let’s talk about mortgage payments. Some common ways to lower your mortgage payment are to make a larger down payment and to improve your credit score. Improving your credit score is especially important when you’re applying for a mortgage. Here’s another way to lower your payment – buy down the interest rate for the life […]
We should probably start this with “what exactly is an APR?”. An APR is an “Annual Percentage Rate”, and is a calculation to accurately reflect the cost of the mortgage considering the note rate of interest, financing fees and charges based on the term of the mortgage. APR calculates the interest rate and loan fees […]
If you’re a tenant – hearing the words “rent is going up” is more than likely not something you want to hear. However, if you’re an investor, that phrase really is music to your ears. A recent study performed by CoreLogic known as the Single-Family Rent Index, April 2021 showed a 5.3% increase in national […]
Will a rental property give you the rate of return you are looking for? My modified annual property operating data may be just what you are looking for. Investors consider different rates of return to determine whether a property will generate the yield they expect. Often the simplest of calculations can tell you whether you […]
Investing in a rental home, whether it is a single-family detached home, condo, two, three, or four-unit building, share the same benefits. People instinctively know many of the working parts because they are the same as what a homeowner has. They have a basic understanding of how to maintain the property and what the value […]
The Wall Street Journal reported recently that investors have rarely been this flush with cash. According to Refinitv Lipper, the economic uncertainty due to the pandemic and the volatility of the stock market has caused assets in money-market funds to increase to approximately $4.6 trillion, the highest level on record. If you are one of […]
The determining factor for what type of property you have is not in how it looks but rather in your intent for use. Based on your intentions, a property you own can be a principal residence, an income property, an investment property or a dealer property. Let’s look at the definition of each. Principal Residence […]
If you are thinking about getting into the landlord business, beginning early is an advantage. A term called house-hacking refers to buying a multifamily property with an owner-occupied mortgage. You then live in one of the units while you rent the other units out to other people. Beginning early means you get a longer time […]
Do you desire an investment that will turn your $10,000 into $80,000 in seven years? Wait, is this too good to be true? AND, you can live in it every day for the next seven years! Will that make it even better? Today, if you purchased a $300,000 home with an FHA loan it would […]
You would be shocked to hear just how many people have spent more time on vacation planning or mobile phone purchases than they have on planning for retirement. These same people are probably expecting that Social Security will support them through their golden years. It can be assumed that a single person who has paid […]
