December 2020 Real Estate Tips Round Up

Three tips here: Good Buy or Goodbye, Making Money in Your Sleep, and Interest Rates Aren't Why It's Time To Buy - Building Equity Is.

When someone asks, “Is this property a good buy?” Or  “Should I be saying goodbye and invest elsewhere?”  It’s not as easy as giving a quick yes or no. Most of the time there's not a straightforward answer because each person is starting from a different place have different long term or short term goals. So what is a great property for one isn't necessarily the best for someone else.

The single most considered factor of any investment is Cash Flow.  I am often asked, “What is a good cash flow?”. My answer is always the same...Positive. How much cash-flow is needed is subjective. Maybe you’re living in the property and house hacking so you don’t have to pay rent, or it could be a multi-unit that is cash-flowing so well it will pay itself off in 15 years instead of 30. Maybe it’s earning just enough cash to cover the mortgage, insurance, taxes, and maintenance, and nothing more....but it’s a long hold investment strategy...and that works too.

With a positive highlight from this year being consistent low-interest rates, you may not realize how your home is working for you already. You may be making money in your sleep. And if you haven't purchased a home yet or refinanced the one you want to stay in, this is the time.  Align yourself with an experienced Realtor so they can help you realize your dream of owning real estate, or making more money in equity from the property you already own.

Listen to this valuable round up to shift your thinking and start building wealth.