05/31/2023
Have you been considering the purchase of your first, second, or third home, but you always find yourself postponing it, year after year?🤔 Maybe you heard it’s not a good time to buy right now or maybe you just need to take care of that “one” thing, Maybe you just haven’t made time… Here’s the thing: they are all excuses. Until you start visualizing yourself taking action, those plans will remain stagnant.
The first step towards your goal is to speak with a lender and a Realtor who can provide guidance. And don’t wait for interest rates to drop before taking this initial step. Personally, I have purchased real estate at interest rates as low as 2% and as high as 7%, and I would even consider buying with a 20% interest rate if the deal makes sense!
I don’t just talk the talk, I also walk the walk.
This first pic was taken in May of 2021, when I purchased this full duplex. As you can see in the second pic, it was listed for $229,900 but I purchased it for $282,000. Due to multiple offers I guaranteed 52k over asking price which still kept my monthly payment at $1500.
In the third pic, you can see a duplex in the same subdivision almost identical to mine, that sold in May 2023 for $535,000!
So far my investment has nearly doubled in value!! Had I waited for prices to drop, I would have missed out on $253,000 in equity and then some. Of course my clients and I were all hearing the fear the media was putting out there. The market was hot “its a good time to sell not buy.” Many of my clients pulled out of the market, but the ones who didn’t are grateful.
Fun fact: from the rental perspective, I collected $1500 in rent for each side of the duplex. Even after paying the mortgage, taxes and insurance, I still had $1500 to my name.
If you’re ready to take that next step and determine if it makes sense for you to sell or buy regardless of whatever the fck the media is putting out there, dm me.
