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A example of this could be:
Previous owner’s tax assessment (based on what it was worth back in the day) =$1,200 yearly or $100 monthly.
New owner’s tax assessment (based on what is was sold for) = $2,800 yearly or $233 monthly.
That’s $133 a month not accounted for.
#rental
A big mistake when running numbers for a potential investment property👇🏾
❌Using the previous owner’s property taxes.
When you buy a property , it will get a new tax assessment ➡️based on the current worth.
✅Run your numbers based off the current tax assessment.
#RealEstate
Networking is one of the best ways to get + stay in RE��
It takes no money to network + it’s something you could be doing everyday.
If you do not have the money NETWORK, if you do not have the team NETWORK. Networking is the key to reaching your goals + meeting great people!
Buying a house as a primary residence or an investment property is a big financial commitment and in most cases require a lot of money up front.
Check out our blog to learn everything you need to know about down payments
https://t.co/1NzYcAcXum
A mortgage forbearance agreement is a plan made between a lender and a borrower who is struggling to make mortgage payments that attempts to allow the borrower to fulfill the mortgage obligation and avoid foreclosure.
#realestate#home#property#forsale
Prioritize what you HAVE to do , in order to get to the point in life where you can do what you WANT to do.
#Staypatience don’t skip important steps just for avoid the work. Chase it don’t run from it you either work hard now or work hard later .
Determining an LTV ratio is a critical component of mortgage underwriting. It may be used in the process of buying a home, refinancing a current mortgage into a new loan, or borrowing against accumulated equity within a property.
This blog post will discuss the benefits of depreciation and how it helps real estate investors keep most, if not all, of their cash flow.
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https://t.co/1dbx62oN22
Real estate investing can be lucrative, but it's important to understand the risks. Key risks include bad locations, negative cash flow, high vacancies, and problem tenants.
As a landlord, you're legally required to provide:
✅ Access to clean water
✅ Access to heat
✅ Access to electricity
✅ Access to sanitation
✅ A rodent-free environment
✅ A fire-safe environment
✅ An environment that meets local building codes
NEVER forget this.
Before you buy real estate, it’s important to get your financial health in order first .
✅Emergency Fund
✅Control Your Spending
✅Control Your Debt
Everyone’s risk tolerance is different , know what you are comfortable with and execute!
Why real estate is a good hedge against inflation:
1. fixed mortgage payments
2. mortgage balances drop with every monthly payment
3. option to refinance when rates drop, but you don't have to when rates go up
4. rental income and prop value should rise with inflation
I invested less than $4K as a down payment on my first investment property.
I was able to buy a $150K house for $110K.
I instantly increased my net worth $40K.
10X return on my down payment with one signature.
Real estate just makes sense.
KEYS to consider when investing in Real Estate:
1. Location, location, location
2. Cash flow
3. Value-add opportunity
4. Schools, jobs, social climate
5. Quality of property
6. Landlord laws
7. Your boots on the ground