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I was at a family Christmas Party and one of my family members started talking to me about Real Estate. I really do not talk about my business at these types of events but he did ask.
His issue was like a lot of other people's MONEY. He wanted to know how he could make money in real estate. He did not understand the financial way to get mortgages and other monies.
He leased a home and I told him that he needed to buy a home. Not only did he need to buy a home he needed to buy a home that needed some work so he could get some equity. Equity in a home is as good as cash.
You can refinance it or sell the property and collect the profit. It's really a great OPM(other people's money) way to create wealth. Personally I have made $100,000's of thousands of dollars using this strategy.
The home I am living in now I have created approx $80,000 in equity. That is real money that I could get via a loan or selling my property.
The same goes for investors getting a home that has equity it is real money. You need to know what updates are needed to attain the optimum value, but it will be worth it. Homes are the best liquid asset in real estate. You know someone who does not need a place to live?
Equity is a key to the creation of wealth and as a homeowner or investor and it is easy to use mortgages to purchase this type of real estate.
I sold 2 homes this year that let the families purchase and remodel their new homes and create even more equity. That is giving them a better financial future for them and their families.
Make a resolution that you will start looking at the equity positions on any real estate you purchase.Equity creates wealth for investors and families.
Doing real estate since 1985 and a Realtor for almost 22 years
Call Me (Brett) 216-703-5740 Fathom Realty
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Thank you