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Send Your Questions in for Our Upcoming Webinar

Barry Krevoy and I are hosting an upcoming real estate webinar. Do you have any questions you’d like us to answer?

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In case you haven’t heard already, my friend Barry Krevoy and I are hosting a real estate webinar series in the next few weeks. The reason we are reaching out to you today is that we want to know what questions you have.

Whether it’s a question about buying a home for the first time, investing, or securing the best mortgage rate, we can help.

Feel free to comment with your question below, or reach out to us via phone or email with your questions. Stay tuned for more details about the webinar, which are coming soon.

If you have any other questions, comments, or concerns, give us a call or send us an email. We look forward to hearing from you soon.

Want to Get Started in Real Estate?

The sooner you get started in real estate, the stronger the likelihood you’ll be able to retire with a nice real estate portfolio.

Selling a home? Click here for a FREE Home Price Evaluation

Are you thinking about getting started in real estate? Barry Krevoy and I have a story to share that might interest you.

It starts with a man Barry met 30 years ago. Recently, Barry and this man were talking about one of the properties the man owned, and he mentioned that he actually owned seven properties—four of which were paid off. When Barry asked the man what he did for a living, he said he was a foreman at a steel mill. Barry then asked—with all due respect—how a foreman at a steel mill came to own seven properties.

The man said that when he was young, he scraped and saved until he could buy his own place. He then moved out of that place after a couple years and started renting it. He did the same thing with the next place he bought, and the same thing with the property he bought after that. Every time he collected rent from these subsequent properties, instead of putting that money in his pocket, he paid the mortgages of those properties down quicker.

This story illustrates the power of being a landlord, and it’s something you need to understand. Being a landlord means having someone else pay your mortgage for you.

Don’t wait for your dream home to come along to get started in real estate.

You have to get started somewhere, though, so don’t wait for that dream home to come along to do so. Your first home won’t be a 2,000 square foot house with a big backyard. Your first home should be a small place you don’t mind moving out of and then renting out. There are many down payment assistance programs we can help you with if need be.

We can help you get started in real estate. Don’t self-diagnose yourself—contact us so we can formulate a plan to get you into your first home. If you already own a home, let us help you get more of them. If you get started, the likelihood that you’ll be able to retire with a nice real estate portfolio is very good.

If you want to get started in real estate or you have any other questions, don’t hesitate to give us a call or send us an email. We’d be happy to help you.

2 Myths That Millennial Homebuyers Believe

Today I’m debunking two commonly held myths that millennials have about home buying.

Selling a home? Click here for a FREE Home Price Evaluation

I had a situation that came up this weekend with a young couple who came along to a showing with their parents. I wanted to take some time to debunk two commonly held myths among millennial homebuyers.

1. You need to pay more than 20% down on your purchase. This couple was looking at a $500,000 condo last weekend. They were only 27 years old and believed they needed to put 20% down on the condo before they could buy it. The thing is, 20% of the purchase price is $100,000. That’s quite a bit of money, especially for this couple.

What I suggested was against the father’s advice, but that they should strive to put 10% down on the condo. Now, of course they’ll have to pay the mortgage insurance because they’re coming in with less money, but the payment would only be an additional $247 per month instead of waiting and coming up with the additional $50,000.

If you can’t make a 20% down payment, talk to a lender about other options.

Ideally, you’d want to come up with the 20% down payment, but if that isn’t immediately feasible, the best option is to talk to a lender and see if you can come to an agreement to pay less of a down payment so that you can get into the home quicker instead of waiting to save that additional money.

2. Many millennials are under the impression that you need to have a credit score of more than 780 to qualify for any home loans. While that is a great credit score, the reality is that 54% of people have a credit score that is less than that.

There are many different types of loan programs that allow you to qualify for financing with a credit score that is lower than 780. Granted, you probably won’t qualify with a 500, but if your credit is higher than 640, most lenders can work with you.

If you have any more questions about this topic or you’re looking to buy or sell a home, please feel free to reach out to me. I’d be happy to help!