Real Answers to Hard Questions Real Estate - Rent To Own Real Estate
Real Answers to Hard Questions Real Estate - Rent To Own Real Estate
As the real estate world, I see a lot of things that turn my stomach a lot, and one of them has to do with the rental of personal process.
First, some background, if you let me ...
It is known quote from Andrew Carnegie that "90% of all millionaires become so through owning real estate." So who is this guy, and why the price is the issue? Well, he was one of the most well-known industry leaders in the late 19th and early 20th century and in today's dollars (accounting for inflation) was the second richest person ever to live (for John D. Rockefeller). Bill Gates, for comparison, is about 42 on that list. So, if anyone should have been aware of the massive wealth that Andrew Carnegie.
So basically Andrew Carnegie said that you have your own real estate.
Why is this so? In a word, inflation. Inflation in the U.S. dollar weakening (or why Coke bottle is now $ 2.25 and earlier to $ 1.00). When inflation happens, you go into the value, as well as coke, and at home. When you buy your home and stop renting, you are going to the world that benefit from inflation.
So enough with the economics lesson (sorry 'bout that). The point that I wanted to get back into it, that you should have your own home. Not a generic "you", but really you. Companies qualified to rent one of their goals in life should be the good people in a nice house. Not as tenants but as owners. Why? Because this is an important step to be financially secure life, and each deserves to be financially secure.
And that's when I start to get upset when people out there who abuse their rental model and setup the tenant / buyer (ie you) for the failure.
And here's the bottom line and the point I wanted to do: If you are considering hiring has become an Equity house, be sure to ask difficult questions to the company that you're thinking about writing a check!
What happens to the deadline, if you can not get it?
What guarantee is my new home?
What help will you give me to fix your credit problems?
When will I get a mortgage at the end of the period, I only spend 5% down?
Do I have to come up with any of that money myself in the future?
When I'm at home and have to pay property taxes and home insurance myself, my monthly payments to go, or stay the same?
If you can not get solid answers to these questions and more, you have to be careful.
Article Courtesy of David Sandbrand rental Own Calgary.
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