How To Purchase Your First Home Morgage Free

Dated: 05/09/2016

Views: 1136

Im sure that got your attention. 

     That's the same way my audience felt when I went over the details at my first Power up event in Baltimore. I showed them how to make their first home purchase and have the mortgage pay for itself.

Even though it seems like its a hard process, its really not if you just apply yourself and get the knowledge you need to make it a reality.Their are certain steps you have to take which include the following:1. Get a pre-approval letter from a lender (I recommend using the bank you have your money in now).2. Choosing a property that has a lot of equity (usually properties that need repair). Also, I recommend a multi-unit.3. Find out the value of the property after it has been renovated. (Im a realtor that can help with that)4. Have a contractor that can help you fix up the property (or I can assist with that).5. Repair the property after closing and live in one unit and rent out a space for a tenant. (check out the average rents in the area you choose)So, here is an actual example:Property on 123 Maine st -Purchase Price- $10,000Renovation costs $85,000Total Investment $95,000 Here is how the mortgage will be free- Mortgage for this loan would be about $850 a month. 


If you rent out a unit in your home for $1000 (ex; a 2bd/1 bath). You can pay the mortgage and save the additional $150.Also, you can save the money that you would usually use to pay mortgage to put in future investments.Dont let your fear of not thinking your ready stop you. If you are paying over $900 a month for a mortgage, you are ready. Stop building someone else's residual income and build your own. Stay tuned for the next event.

P.S. Contact me today to purchase your homes 443-869-1364

Til next time,

JC


Latest Blog Posts

30Minute Closet

Even if you don't live in an area where temperatures vary seasonally, organization experts recommend "editing" your closet each season. With this handy six-step guide you can get it done in just

Read More

The Cost Of Selling Without A Real Estate Agent

You’ve heard of buyer’s remorse; but without your market expertise and sales skills to back them up, sellers who choose to sell their home on their own just may experience “seller’s”

Read More

School Schedules Year Round School Schoolyear Vacations

Date Details Days August 20 (M) Administrative & Supervisory Personnel Meeting Pupil: 0Teacher: 8 22 (W)

Read More

5 CRITERIA FOR PRICING A HOME

When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision

Read More