To Buy or Not To Buy!
Unless you live on an isolated island with no connection to the real world, you would’ve heard it on the news that there’s a down side to the real estate market. Should you be concern? Nationally, absolutely there’s concern!
You may hear at times, “don’t buy right now….the bubble”. But really, it depends on your market. From California to Florida, from Nevada to Ohio, foreclosures are at an all time high! So maybe you should think 2x before investing in these markets. But for the remainder of 2007 through 2008, it is a Buyers market!
But what about your own backyard, like right here, right now, good old lone star state? Sure, Dallas and Tarrant County may also be experiencing some foreclosure records as well, but the truth of the matter is, most of these loans that are going bad, should never have been approved in the 1st place. Folks, don’t let this deter you from investing in your own backyard. Know that our market will be an investment well worth a fortune. There’s plenty of room to grow and plenty of opportunity.
The Subprime markets have constricted, and default rates are setting records. Mortgage companies, big and small are closing their doors! But never has there been a better time to buy Real Estate and hold, especially when you have plenty of tenants that can no longer buy a home. There are many properties being bought under market and there are no longer zero down payments with credit issues for first time home buyers. Need more clarification? Here’s another thought...you can buy properties below market which CURRENTLY cash flow. Why? Because more tenants are entering the market. Why? Because they cannot buy, and you can help them by putting a roof over their head. Still don’t get it…. Call me!
You can only live at poverty levels on Social Security. I wish you could live rich on it, but it is just supplemental. Honorable companies who have offered pensions in the past unfortunately have ceased or even frozen their retirement plans. You worked all your life for one company? Whoops, sorry we never knew health care would get out of hand like this. Your pension will be depleted! Good bye guarantee. Wal-Mart always need Greeters.
Here is a couple suggested books that are good reads: Rich Dad Poor Dad by Robert Kyosaki; The Millionaire Next Door by Thomas J. Stanley; The Automatic Millionaire Homeowner by David Bach.
Yours Truly, Sela E. Finau
817-874-3533
sela@finaumortgage.com