There are a couple of factors you should look at when renting or buying real estate, it includes time, money, location, and purposes. Hope this video helps you.
#Petervekselman #PartnerDriven #RealEstate
IF ARE YOU READY TO ACCELERATE YOUR REAL ESTATE SUCCESS, GET 100% DEAL FUNDING, 1-ON-1 MENTORING, BACK-OFFICE SUPPORT & MORE…
THEN WE WANT YOU TO JOIN OUR TEAM!
Grab our first 48hr Pass
Partner Driven website
So here’s a question people ask all the time, Pete, should I rent or should I buy? Well, it really depends on a couple factors. Number one length of time, like how long are you looking to stay somewhere? If you’re looking to stay, they’re fairly short period of time. And when I say short period of time, probably, you know, three to five years and under almost always, it makes sense to rent just because of the costs, especially upfront costs involved with buying. Um, next, how much money are you working with? Like, if you are flat out broke, don’t have really too much money to spend. Um, don’t have a lot of savings, also another great time to rent because when you’re buying, you’re probably gonna need to bring at least five to 10. Sometimes even as much as 20% down again, you want it when you’re buying, you want to make sure you’re doing it over length period of time.
Uh, also what is the game plan? Like for instance, maybe you do have money, but you need access to cash. Well, maybe the best place to put your money then is back into maybe your investing. Um, uh, or maybe you have your own business that can generate money. So the use of the down payment money, the use of cash that you would otherwise be spending in a house, the cost of that also needs to be determined. So you need to rent or do you need to buy? How long are you going to stay there? What is your cash position? And also what is the best use of the capital?