Arnold Schwarzenegger. Not a name you associate with real estate, right?? Well, guess what folks! He did NOT make his millions from being the #Terminator or #KindergartenCop. He made it in real estate BEFORE becoming famous!!!! 😳😳😳
In fact, he was ONLY 25 years old when he was already a millionaire from real estate investing. 😳 Real estate is one of the safest long-term strategies for building wealth. But a lot of people don’t realize you can make real cash today in short time if you can live simply in the early years. 💵 No, I’m not talking get rich quick in one year. But in several years, it’s possible. How? By living simply and buying a small house or duplex, then trading UP. From a duplex, move up to a 4-plex. From that, move up to a 16-unit building, for example. Remember: your initial purchase must come from your own pocket and income source, BUT it snowballs from there due to equity built from appreciation and CASHFLOW income from the monthly rents! 💰💰💰
You learned something new today! 😊
DAISY CASILLAS (206) 866-8090 ListingsFor1.com 1% Real Estate Broker – The New Normal™
The last several months has seen a steady climb in the use of the “low appraisal addendum.” What is it? This addendum obligates a buyer in advance to pay MORE than the appraised value. Why would anybody do that?? Because buying is so competitive right now that many homes are not appraising at value! You would think this would be a great thing for buyers (a protection) and it is, but then enter this addendum. This addendum allows buyers to submit a MORE COMPETITIVE offer by promising a seller in advance that if the property does not appraise, the buyer will pay more than the appraisal value. The buyer sets that amount in their initial offer. Remember that lenders won’t lend above the appraised value so that’s EXTRA cash you need to bring to the table. Of course, if it appraises at your purchase price value, the addendum doesn’t apply.
SOUNDS TOUGH TO BUY RIGHT NOW?? Not necessarily. This doesn’t happen with every home on the market. It largely depends on the location and type of property you want. PLUS, with interest rates so low, it’s worth giving it a shot if you can get into a home and start building your own equity instead of your landlord’s!
DM, call, text, or email me for information. Lots of info at ListingsFor1.com too!
Buy land or buy a home! 🚨 Did you know that when interest rates are low, it increases the amount you can borrow?? 🚨 That’s why right now is a good time to find out if you qualify to purchase property. 🏠Historically, real estate is one of the safest investments one can make. Real estate doesn’t tank and rise like the stock market does. Plus, land does not depreciate like other assets! 🏕 DM, text, call, or email to talk about buying for investment, your FIRST HOME, or selling in the Pacific Northwest! ⬇️
A lot of people here in the Pacific Northwest don’t realize that real estate didn’t stop because of the governor’s stay-home “order.” We had a hiatus for three days but real estate is an essential service. Tens of thousands of people were in the midst of buying or selling a home when the coronavirus hit. One can’t just stop that midstream. Imagine the people who already gave their landlord or job notice, already paid for moving services, got a job out of the area, etc. We actually barely slowed down. Now that businesses are opening up everywhere, we are full speed ahead again. This year started VERY strong for Pacific NW home sellers due to low inventory.
Yet, it’s been great for home buyers too because interest rates have been so historically low. 🚨 Buyers! Don’t get stuck on the sticker price of homes! Focus on the monthly MORTGAGE. On average, you are likely to stay in a home for only 10 years. Is it better to buy a home during that time at low interest rates (plus gain appreciation later) or to rent and never get that money back EVER??? 🚨
Call, text, or email to talk to me about buying or selling a home at this time. Tons of actually helpful information on my website at ListingsFor1.com. 👈🏻👈🏼👈🏽👈🏾👈🏿
No worries. Start your research now. You don’t know what you don’t know. 💡
Don’t start by looking at houses or condos. Instead start by connecting with a lender. A lender will let you know what you need to do to qualify for a mortgage. It’s not necessarily that you need to make more money. Perhaps you need to eliminate some debt (not necessarily all of it either!), or improve your credit score (are your credit reports accurate?). A lender can look into that for you to give you advice that is personalized to you. There are also many first-time homebuyer programs available to assist with down payments.
I also have lots of personally written valuable information for homebuyers and home sellers on my website. My article on improving your credit score was from my personal experience. In fact, I recently went to a class on this topic from a big-name banker and I could have taught the class myself!
Contact me directly if you have any questions!
DAISY CASILLAS (206) 866-8090 ListingsFor1.com savvy lane