I’m working with a cash buyer today, but I couldn’t help but thinking that a renter might consider this… a 203K renovation loan to purchase a distressed property could save them thousands,.. and double their investment value in 7 years AND enjoy a tax savings of $15,947. Just take a look at the chart below.
A purchase of 50K, Roll in the 30K for repairs with a 203K loan. Take a 15 year mortgage, and it will be paid off in 7 years… and look at the EQUITY in7 years! I think the only thing left to say is, “When are we meeting to look at these properties?” The time to purchase a home is right, the properties are there, but you need to be ready to go! For an investment planning appointment contact me today.