HOW TO WIN IN REAL ESTATE DESPITE OF HIGH MORTGAGE INTEREST RATES
with Cyril Rocero - MaxPro Real Estate - Winnipeg Realtor
IMPORTANT INFO! Please read this so you don't miss out.
You dreamed of buying a HOME for your family, but you are afraid to jump on a 6% mortgage interest rate. You think you are saving money by waiting for the interest rates to go low again, but what if it stays high for a long time? Well, we could only hope that somehow we can predict what is about to happen, right? What you fail to realize is that while you are renting an apartment, you have already been paying a mortgage and constantly donating your hard-earned money towards the equity of the property that is NOT yours. So, why wait?
If you don't own a real estate property, you are missing out on these:
APPRECIATION OF THE PROPERTY - which is usually around 5% every year. Imagine you bought a property for $400k. In 5 years, the value could be up to $510k or more. Therefore you could have made $110k of profit in only 5 years!
LOAN PAYDOWN - This means that the property you mortgaged for $400k based on the example above would then reduce to $355k. This gives you somewhere around $45k of earned equity after only 5 years. If you keep on paying your landlord for 5 years, you are losing this amount.
PROPERTY WITH RENTAL SECONDARY SUITE - Imagine this, instead of buying a single-family home for $400k and paying a monthly mortgage of $2,560 (based on a 6% interest rate), choose one with a potential for rental component even if you purchase it for $50k more but get a renter who pays $1,100 per month. This means you will pay a monthly mortgage of $2,880 minus $1,100 (which your renters pay) is equal to $1,780 monthly on a $450k property instead of paying $2,560 monthly on a $400k single-family home. You save $780 per month on a property that has more value.
INVEST IN A TRIPLEX OR A MULTI-FAMILY - Imagine investing $500k on a triplex property that rents $1,200 monthly per unit. You will be paying $3,200 per month on the mortgage (based on a 6% interest rate) but makes a total of $3,600 on the 3 units, which means you'll be making a POSITIVE cash flow of $400 per month, and the income property for FREE!
The illustrations are based on a high 6% mortgage interest rate but ACTUAL rates may vary depending on your bank's approval. I only want to show the benefit of investing in real estate even if the interest rates are high if you only do the right choice.
If you want to learn more about how to do this and INVEST in your OWN property, please let me help you. I personally invest in properties every year and I have helped a lot of my clients jump into REAL ESTATE INVESTING too. So if you are interested, contact me, please.
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Thanks for reading!
Reference: ORIGINAL WRITING
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MAXPRO Real Estate
Correct Mindsetting In Real Estate Investing
I hope this video inspires you to have the correct mindset and eventually encourages you to begin your journey and become successful in real estate investing.
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