The years seem to be going faster and getting shorter all the time. As we head towards retirement we want you to have 20/20 vision on your real estate goals.
Real estate investing using your home’s equity can help you secure your financial freedom. First, meeting with your Realtor is a great time to learn the value of your home, how much equity you have, and at minimum, learn if we can eliminate PMI.(if you are subject to PMI). Once we know your home’s value and equity percentage, we can look at financing by talking to a lender you trust. If you don’t have enough equity, we can set a timeline that would work best for you and your family.
Next, we evaluate the strategy that best fits your needs. The most popular investment is buying homes that need repair then reselling them. If you are going to try and FLIP a house know your limitations and evaluate your skills and decide what projects you will need to hire a professional then add ten to twenty percent to your estimate of repairs for surprises and unexpected issues. Lastly, is to buy a rental property. Buying a rental property can be a single unit or a multi-unit property. The best part of owning a rental property is while the building increases in value, the tenant is paying your mortgage. Lastly, if you decide to buy a multi-unit building, you can live in one of the units and rent out the other unit(s).
There are many ways to invest in real estate. We would love to connect with you and answer any real estate questions you may have. Free consultations are our specialty and our pleasure. Call Today! 815-321-4250
Talk to you soon. Have a blessed day!