Posts Tagged ‘Time’
It’s time to get a Dubai Investment Property
December 17th, 2010Can a first time home buyer purchase a home with no money down?
November 9th, 2010I have one more year left in law school and then I plan on purchasing a house. After a I graduate, If I started off with the lowest possible income at 43,000 a year, could I purchase a modest sized home with no money down? Or would I have to wait until I saved up money for a down payment?
How can we become first time home buyers with little to no money down?
August 8th, 2010We are a young couple in our early 30′s, who are tired of paying rent. For the last 6 years, we’ve been paying 1400+/month and watching that money go towards someone else’s equity. Because of our modest income, we have not been able to save any money for any sort of down payment. However, we’ve been very careful in building up and maintaining an excellent credit history over the last 6-7 years. Every year with the cost of housing going up and up, it seems like we will never be able to afford to buy a house and stop throwing our money away towards rent. Looking for a realistic means to own without signing our lives away.
Right Now is the Time to Buy Investment Properties
July 12th, 2010If you are thinking about buying investment properties, right now is the time to buy. There are many reasons that make it super easy to buy a home at the moment so you can start making money. These reasons include the record low prices, the banks, and the renters.
The housing crisis has caused the prices and the values of homes to plummet to record-breaking lows. Consequently, right now is the best time to buy a home. There are homes on the market that sold for $300,000 five to ten years ago now up for sale for less than $100,000. You can buy a home right now and immediately begin making a lot of money every month as you rent out that home. If you just want to buy the home and wait for the market to get better and not rent it out, you can do this too. In either case, you are virtually guaranteed to make a profit right now.
Keep in mind, however, that real estate investments — though one of the top methods for creating wealth — are not without risks. Renters are by no means guaranteed, and you could be stuck with an empty home for several months. Furthermore, there are good renters and bad renters, and there is no sure way for telling one from the other.
Bad renters may end up treating your property poorly and costing you far more in repairs than you make from rent. Worse still, is that most state laws are on the side of the renter. It is often difficult to evict a renter — and even if you do successfully evict someone, angry tenants might decide to leave you a nasty going away gift in the form of a destroyed home.
As far as banks are concerned, they want to get rid of the homes they own as quickly as possible. And right now the banks own many more homes than they would like to have because of high foreclosure rates. This is a big liability and cost for the bank. The bank doesn’t have time to be sure the home is not vandalized or broken into. All they want is the money. As a result, many banks will do whatever it takes to practically give you a bank owned home.
Another reason that now is the time to buy investment properties is because there are so many thousand of renters on the market that you don’t have to worry about any homes going empty for a long period of time. In addition, the supply and demand law has kicked in more than ever before because of the crisis is causing rentals to more than double in prices. This is an amazing benefit that you can take advantage of and charge more than double what you are paying on the mortgage payment if you are financing the home.
