My professional opinion it’s a Bad Idea and here’s why:*You pay about 20% above the typical rent for the house as well as option fees etc.*The agreed upon purchase price will be what the owner
How To Build Wealth Through Real Estate
Dated: August 19 2020
Imagine paying 3.5% down payment, using a mortgage to purchase a home but getting a 100% of the property to enjoy and all the benefits that comes with it. That is called leveraging your money and making it work for you. Real Estate is the only investment I know that allows you to live inside of it and appreciates faster than any other investment.
In the last 4 years, since I have been keeping up with the market, homeowners have gained on average $9,700 in equity each year. Making money just by simply owning the place they call home. Some of my clients, because of the area they bought in and the deal we negotiated have seen even higher returns. At the end of the day you have to live somewhere and that means paying rent. Why not put that money towards something you own and grow over time. That is in fact, what your landlord is doing, the only difference is he is using your money instead.
I helped a client who was paying $15,600 a year in rent purchase a home 3 years ago. Today that same home is worth $45,000 more than what she paid for it. Here's the kicker, her home is bigger than the place she was renting, her mortgage payment less than what she paying in rent and she's made $15,000 a year.
That is how you make your money work for you.
I purchased my first home as a single mother in my early 20's, so I know the fears, the anxiety and the financial responsibility that comes with such a large purchase. But I also know the pride, joy a....