The last few years have shown us all the DUMB ways to own a house:
1) with payments that are only affordable for 12, 24 or 60 months.
2) expecting to ride the wave up and jump off just at the top
3) on an adjustable mortgage, never knowing what next month’s payment will be.
I remember feeling as if I was less than a stellar agent when other folks around me were selling and I wasn’t. Turns out that they were selling a different dream than I. Turns out that they were selling the “you can have the house of your dreams” dream while I was selling the “get rich slow, sleep well at night and live a happy life” dream.
Was it really worth it?
So, if that’s the DUMB way, what’s the SMART way to own property? I think the smart way is by buying:
1) with a down payment and with fixed monthly payments that fit within your budget.
2) buy and hold
3) cash flow properties have to cash flow
Boring. I know. But owning real estate was never meant to be a spectator sport. If you want to do something exciting go sit next to my brother at a Raider’s game! What are your dreams today?