Tuesday, December 15, 2015

More Equity...More Options - Grow Your Personal Wealth with Single Family Real Estate

The more equity in your home, the more options you have. Since equity is determined by the difference between value and what is owed on a property, when homes lost value during the Great Recession, homeowners’ equity decreased. Equity-250.jpg
Negative equity occurs when the value is less than the mortgage owed. According to CoreLogic, 91% of all mortgaged properties have equity and only 4.4 million properties remain in negative equity at the end of the second quarter in 2015.
Since home values have been rising, imagine if you had bought some rental properties that mostly pay for themselves. You could be growing long-term wealth that will help you significantly in your "relaxing" years!  This is a strategy that I have implemented for a long time . . . and my "senior years" are fast approaching, though I don't seem to "relax" or even "slow down!"  On the contrary, I follow my mission of helping people grow their personal wealth through single family home ownership.
A homeowner, who qualifies, can release part of their equity by refinancing the existing loan and taking out additional cash or by getting a home equity loan. The benefits include:
  • To get a lower rate on your current mortgage
  • To finance capital improvements on your home
  • To payoff higher interest rate debt such as credit cards or student loans
  • To purchase items that would not have deductible interest like personal cars, boats, etc.
It could be as simple as waiting for positive home equity so owners can move to another home without having to pay out-of-pocket expenses to sell their home.  And if you have rental properties, you can multiply the cash effect by the number of properties.
Why wait?  Get started today!  Call Sam . . . get vested!  832-200-5656

For over 40 years, I've been helping people just like you achieve their real estate goals.  Buying or Selling, Call Sam and Get Moving!  TheSamTeam.com  832-200-5656 #remaxtoprocks