You're Making Your Landlord Rich

"Landlords grow rich in their sleep without working, risking or economising." (John Stuart Mill)

While you’re fussing over your bills, did you realize you’re making your landlord rich? Rentals are the most lucrative business to get into. It turns ordinary people into multi-millionaires. The next time you’re afraid of committing to a mortgage, keep in mind that you’ve already committed to paying off the mortgage of someone else - every single month you rent. The only time home buying doesn’t make sense is if you’re still living with your parents rent-free. Or you prefer to live out of an R.V. or tent. But if you prefer to live in a home, or a condo, it always makes the most sense to buy.

Stop making your landlord rich and start building your own net worth. You can still enjoy owning a home - even if you don’t intend to stay in an area for long. You can always resell your home, most often for more money than you put in, or turn it into a lucrative side business by hiring a property management company to rent it out on your behalf. Whatever you decide, don’t be afraid of a mortgage commitment - you’re paying one regardless. Now ask yourself, do you want to make yourself money or make your landlord money?

Comments

Home Buying Tip: How To Save Up For A House

Are you thinking about buying a home and just don’t know where to start? Before you even begin looking at homes, consider how much you may need to save to make the process as smooth as possible for you, especially in the long run. While there are situations where you don’t need a large down payment for a home, having one can save you money down the road. Saving for a down payment is slightly different than other large savings, like retirement. With those savings, you can set aside smaller amounts or invest the money. Because you will need your down payment sooner rather than later, those saving methods won’t be beneficial to you. Here are some steps to take to save up for your dream home! 1. Determine How Much You Need There is a general rule of thumb in real estate, the rule of 28, that says your maximum mortgage payment should not exceed 28% of your gross monthly income. Sitting down with a mortgage lender will help you find out how much of a mortgage you qualify for ba...

Real Estate Advisor: February 2019: Key Questions For Owners Thinking Of Selling

Taking the plunge and listing can be an exhilarating decision, but doing so without asking yourself some important questions could leave you scrambling to figure out what you're going to do should your home be a highly sought-after property. If you're toying with the idea of listing, ask yourself the questions below before you make your final decision. HOW MUCH IS MY HOME WORTH? Unless you consistently check real estate prices in your area or are comparing comparable homes in your neighborhood, it's likely you may not know the true value of your home. If you're thinking of selling, it's important to find out how much your home is worth. If you are dreaming of a new neighborhood, with the hopes that you'll make a good amount of money off your current residence, do your due diligence and ensure your home is worth what you think. The last thing you want is to find out your home is worth less than you thought and your dream neighborhoo...

Kitchen Organization Tips

The kitchen, for most of us, is the heart of the home. In fact, as the epicenter of the home, the kitchen is one of the most important rooms when it comes to the resale value of your home. However, for many homeowners, the kitchen can also be characterized by clutter, crowded cabinets, and general disarray. If you've been trying to find ways to reorganize your kitchen without a costly remodel, here are a few quick ideas to help keep your kitchen organized and clutter-free. Free The Spices : Don't waste cabinet or drawer space on your spice collection. Spices should be handy near the stove, so install a wall rack in a convenient location. Be careful to avoid spots that will get too much heat, as this can affect the flavor of some spices. Hang Them Up : Hanging pot racks can both free up your cabinet space and add a chef's touch to your kitchen. If you decide against a full pot rack, consider ways to hang utensils out in the open. Pre-assembled racks ca...

JJ & Ainsley Gordon, The Gordon Group

Search This Blog