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Social Security Increase

2/17/2019

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This year the cost of living adjustment for social security was 2.8%, meaning  social security checks went up 2.8%. 

As of January 201 9 the Average Social Security Payout was $1461. 

The Maximum Available Payout is $2861.  - To receive the maximum available payout you would have had to have had the maximum taxable income for 35 years.

If you were to retire today would you be able to live on either of these amounts? Currently, Social Security is the dominant source of income for half of married couples and 74% of single people age 65 or older. Again the average payout is $1461 - how does that sound as your dominant source of income when you retire? How much is your rent or mortgage? At least if you own a house  hopefully you will have paid off your mortgage by the time you  retire but even then your social security check will probably just cover your property tax, insurance, food, utilities...the basics.

If you rent hopefully you understand that you will always need to pay rent. You can never not pay rent if you are a renter.  When you own, your mortgage eventually gets paid off...rent never stops. How much has your rent gone up over the years? Most likely it will continue to climb so by the time you want to retire your rent will be substantially higher than it is now but your income will  most likely be lower...how will that work out for you?


Nearly one in two Americans -- 46 percent -- die "with virtually no financial assets," or less than $10,000, according to a study by economics professors at MIT, Dartmouth and Harvard. In fact, the study found that 19 percent of Americans die with "zero" financial assets.

Expert  estimates are that you need to have between 11-18 times your annual pay to retire.  So if you earn $100,000 you will need between $1.1-$1.8 million in savings. Of course the longer you live and the more you spend...you might outlive your savings.

If you are like most American's you don't have anywhere near the 11-18 times your annual pay in savings.  So what's the plan?

In case you didn't know you can buy a 2-4 unit property on an FHA loan for 3.5% down. You can live in one unit and rent the others. In many places in the country you can buy for 3.5% down and live for free in a 2-4 unit property. Get two of these properties and when the mortgages are paid off you will be collecting rent. Your tenants pay for your building over time and when you retire they will pay for your retirement. When your building is paid off your tenants will pay for your vacations, dinner's out, health insurance,  doctor bills  and the list goes on. 

Remember just one 3.5% down payment is all you need to get started.  Your future self is counting on you to create  a comfortable life for when you  are older.  




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There But For The Grace Of God...

2/17/2019

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Today an elderly woman Sara, called me wanting a second reverse mortgage - she had previously taken a reverse mortgage on her house but spent all the money. She is in her 70’s, has no savings, has to pay off debts and get some money for her ongoing expenses.

Luckily, Sara had inherited a 2 unit property from her mother in Santa Monica California and she owes only $350,000 on the property that is worth $1,700,000. She lives in the front unit and is renting the back unit as much as she can.

Sara and I spoke for about an hour and much of that time was her lamenting about her life without social security. I guess she never worked a regular job that was on the books and she never married so she doesn’t receive social security but she has a small job that pays her under the table and she gets rent from her back unit when she is able to rent it. Sara confessed that many times a week she “dumpster dives” behind a local grocery store to feed herself. Sara isn’t able to pay her bills, her phone has been shut off and soon her electricity would be cut off.

​Sara was upset that the United States doesn’t have a program to pay retirement income to the elderly even if you never worked. Some countries have programs like this but we don’t…here in the US it’s pretty much every man for him/herself. No one is coming to save us…we MUST have a plan so we don’t end up like Sara or the millions of other elderly people living in poverty.

Imagine if Sara didn’t own her property with over $1,000,000 in equity in it…she would be homeless….she has no income. Even if she were receiving social security the average payout as of January 2019 is $1461. Rent in Los Angeles is more than $1461 so Sara is very lucky she owns a property it gives her a place to live. Thank God Sara’s mother had the foresight to buy a 2 unit property and leave it to her without a mortgage…the second unit gives Sara income. I suggested that she rent out the larger main house and move into the smaller back house then she would earn about $4000 a month. That should be enough to cover her expenses. She won’t have a big life on $4000 a month but she can pay her bills and not have to dig her groceries out of a  dumpster. Sara will have to be careful with her money every month but she lives in one of the nicest places in the country with great public transportation and a beach close by…it could be worse!

As I listened to the upset in Sara’s voice during our conversation all I could think of was there but for the grace of God go I. This woman’s plight is not unusual and she is better off than many retirees since she owns a property that generates income. Over 7 million elderly Americans fall below the Supplemental Poverty Measure. Millions more eek out an existence. Many are relying on help from family.

You must decide today how you want to live when you are older. If you want a secure, fun retirement you must save and invest your money today. There are many ways to do this but real estate investing is my area of expertise. If Sara had just one more 2 unit property she would most likely be collecting another $6000 a month. Imagine how great her life would be if she was collecting $10,000 a month from all of her units…one unit on her property and two from another property.

This is not hard to do and the time to do it is NOW! Put your money into a property, not into costly drinks after work or Starbucks Macchiatos. Live in one unit and rent out the other. Then save some more money and buy another property…two is all you need to have a secure financial future. Don't worry about the market or interest rates…the sooner you buy the sooner it will be paid off. Then when you’re older you can drown yourself in all the drinks or Macchiatos that your tenant’s money can buy!




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Super Sad

3/27/2018

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 I hate to keep posting these kinds of stories but they are  abundant. For every one person you read about in a pickle in their retirement years there are thousands more just like them you never hear about. They are living lives of quiet desperation. 

I've had this article saved for a while and seeing it is  from November 2016,  most likely the situation has only gotten worse for this  woman.    Article Here  She was earning about $80,000 a year and when she moved into her apartment in 2012 the rent was   $2,397 but it rose to to about $3,200 by  2016 which is  over a 33% increase in 4 years. Did her salary go up 33% in 4 years?  I doubt it.   At the time of the article she was living in cheap motel rooms....at 67 years old.

In Los Angeles where I live, the homeless population  increased 23%  in 2017  from 46,874 to 57,794 - Study Here    This is due to many factors some of it drug use but some of it due to  unmanageable  rent increases.  Can you absorb a 10%  , 20% or 30% increase in your rent over the next few years?  

As I am in the mortgage business in Southern California I talk daily to potential home buyers and it pains me when young people, who are earning a good salary, opt to continue to rent rather than buy. Yes their rent is usually lower than what it will cost them to own however...they have no control when they rent.  Despite "rent control" there are events that take place that end up displacing people from rent controlled apartments.  And over time that 3% increase a year adds up . Rent control prevents mobility....people want to move but they can't or don't since  rents for similar vacant apartments are usually higher.  Living in a rent controlled apartment is a dead end  future....it's limiting and not expansive.

Now imagine you suck it up and give up your rent controlled apartment for $1400 a month and end up buying and it costs you $2500 a month.   On a fixed rate your payment will not change in the next 30 years! Then after 30 years it will be gone.  Disclaimer - your property tax and insurance can and most likely will go up but your mortgage principle and interest payment will not move one inch.

If you continue renting, your rent will go from $1400 to $3398 over 30 years. In 30 years do you think you will be retiring? Will you be able to afford $3398 a month for rent on your retirement savings or social security income? If it still exists my social  security income won't be $3398 a month.  But since I own and have a rental unit on my property my mortgage will be $0, the income from my rental unit will be minimum $2500 a month.  I will be better off than anyone renting even if they are sitting in a rent controlled apartment right now.  Plus with my property paid off I will have $0 in a mortgage payment, income from my rental unit and I will own an asset worth hundreds of thousands of dollars.

Please, please reevaluate renting vs buying. Yes you will most likely need to scale back something in your life when you buy in California...the money you spend at Starbucks or going out to eat but now you can throw fabulous dinner parties in your garden, make your own Caramel Macchiato  on your fancy new  Cappuccino Machine in the kitchen you own.   You will adjust and over time you will  be richer and more secure for  taking the plunge!

I'll bet the woman in the article is looking back, thinking about how different her life would be now if she had bought  a 2-4 unit property when she was  37. I feel for her.




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Here We go...

12/1/2017

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 It looks like the Republicans are going to pass major tax legislation and today Senator Marco Rubio admitted they will have to cut Social Security and Medicare to  help fill in the gap (article here).  So for anyone who  thinks that Social Security was going support them in retirement is looking at a dismal future. The maximum amount you can receive even before these cuts will barely  cover the cost of rent today in many places in California let alone all of the other items you will need in retirement like food,  medicine, doctors appointments etc. 

Now is the time to tighten your belt straps and save some money to buy a 2-4 unit property. As I have said may times on this site...one 2-4 unit building will save your life when you are older. All you need to save is 3.5% for the down payment. You can get a credit that will pay for your closing costs from the lender by taking a slightly higher rate. The 3.5% can also be a gift from parents or another family member if you don't have the cash. There is no reason not to do this  sooner rather than later if you do not own a property yet.

The beauty of a 2-4 unit property is that the tenants will pay for a good portion of your mortgage every month. Then when the building is paid off in 20-30 years you will have a free place to live and also income from the other units.  You will not have this if you plan on relying on Social Security.  You won't have much if you plan on relying on Social Security. And after they get done with their cuts  you might not have anything.

Better to be safe not sorry. So what do ya say? Let's put down the Starbucks,  put away the credit cards and  start making plans to be rich in real estate.
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How Do I buy In California now?

4/10/2017

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 Yes...California real estate is expensive...again. It always does this...it goes up then down then back up higher than it was before it went down. So here we are again, back up  above where prices were before the crash.

So if you didn't take advantage of buying after the crash, and have watched for the past 7 years like many, as prices have made their way back up what do you do now? Many people are discouraged and frozen in a place of inaction, wondering what they should do and what is coming next.

Will prices go down? Maybe.
Will prices keep going up? Maybe

There is some instability in our government. That instability is making some feel they should hold off from buying until they see what is going to happen, I understand. But...rates are still very low and it is your payment that you need to be concerned about as much, if not more, than the price of the property. Real estate prices are about income and supply and demand. If we don't have a huge spike in unemployment or lose some major industry in California then the demand for property is there. Many people want to live in California and the demand is usually quite high...there is a shortage of housing in many parts of the state. We have land constraints here that keep our inventory limited. We have an ocean to one side, ranges of mountains and lots of  government land. All of these factors limit how much property there is and as people keep coming the supply tightens.

It is your monthly mortgage payment that drives everything.  If you can afford the payment, and if you hold onto the property (as you should hold onto every property you buy) then now is the time to buy. It's always a good time to buy as long as you can afford the payment. Regardless of what happens to the market, if prices go down, then you keep making the payment just like you keep paying your rent. Eventually the house will be paid off and if you are smart enough to buy a 2-4 unit property, then the rent from the other units will keep your monthly outlay low and will help you pay off the property...and in 30 years or less you will have a piece of real estate that you own free and clear. 

If you wait for conditions to be  perfect you might be waiting for a long time. I remember some clients of mine back in 2009 wanted to wait to buy as they thought prices would continue going down  and guess what...they waited too long and are still renting today. Once everyone realized the prices had hit bottom, buyers came out of the woodwork and started buying...quickly driving prices up. Once  prices started rising there was a lot of competition and many people got frustrated and didn't buy. If my clients had bought back in 2009, or 2010 or 2011 or 2012 or even later...they would be sitting on hundreds of thousands of dollars in equity now but they wanted conditions to be perfect and in the end they got nothing.

Don't end up with nothing in the end. Owning property will save you. If you continue renting you will still have a rental payment in 30 years. If you buy, you will pay off your loan in 30 years (hopefully less) and then only have to pay for property tax and insurance every year. You will own an asset worth hundreds of thousands of dollars. If you buy now on a fixed rate your payment will stay the same for 30 years and then be finished. I can pretty much guarantee that your rent will go up over the next 30 years and you will have to keep paying rent until the day you die.
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It's Easier To Buy Then You might think

11/25/2016

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PicturePhoto courtesy of Michael Kumm
Ran across this article today "$80,000 Salary? 7 Cities Where That's Not Enough To Buy  A Home"     I understand their methodology and they are specifically talking about single family residences. I also understand that they have to write semi shocking headlines to get you to click on it...so we can see how difficult it is out there. But, most articles like this one, talk about single family residences. What very few people (even in my business)  realize is that you can more readily afford a 2-4 unit property than a single family residence and buying a 2-4 unit is the best way to start owning real estate.

When you start out with a 2-4 unit property even though the price tag is typically higher (which results in a higher mortgage payment), you will receive rent from the other 1-3 units which will offset a large portion, or possibly all  of the mortgage payment.

In addition...the 20% down payment so often mentioned in the media  is not accurate. There is and has always been 3.5% down payment option on FHA even for a 2-4 unit property. Now when you put less than 20% down on a property, you have to pay mortgage insurance. Mortgage insurance is an insurance policy you pay that benefits the bank in case you default. If you buy a 2-4 unit property with 3.5% down, even though you will pay for  mortgage insurance those beautiful rents from the other units will help cover that.

PicturePhoto Courtesy of Josh
A 2-4 unit is the smartest way to get into owning real estate . It keeps your monthly nut small which is good. It is good to own property and have a small monthly nut at the same time. Plus you won't need to earn as much money as you would think. When you buy a 2-4 unit property the banks add 75% of the rents from the other units to your salary which helps you qualify.  

A 2-4 unit property can take many forms. All of the units can be in one building, they can be separate houses, they can be part multi-unit building with one single family home, there are many configurations.  

Owning a 2-4 unit property is the best way to secure your retirement. Even if you never save one more dime, in 30 years when the mortgage is paid off you will have a free place to live and income from the other units. But if you do decide to be smart and save some more money you can buy another 2-4 unit property  which will make your retirement even better!

So don't take the articles you read about how tough it is out there to qualify for a home seriously. A 2-4 unit property is a home and one you can more easily qualify for. Get professionally pre approved  so you know what you can afford to buy - a pre approval is free from any bank or mortgage broker. Depending on where you live you might not need to earn that much at all - remember 75% of the rents will get added to your income  to help you qualify.

Don't delay...get started. Like any investment, the sooner you start and the more time that passes, your investment grows. Time will pass anyway...you might as well be getting wealthy in the meantime!

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You Can Live A Big, Fun Life Below Your means.

11/25/2016

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This looks fun! A great night out with friends; a nice meal, great wine...this is why we work so hard right? So we can  have  these kinds of experiences. But there are two ways to have this experience and one will cost you  twice as much as the other, and if we keep doing the things that cost us more we'll end up with nothing in the end.

Eating out at a mid level chain restaurant with just one glass of wine, including tax and tip, will run you about $35.  Personally I  see people spending more like $50 or $60 for a night out with dinner and drinks. Now take that same group of friends and invite them over. Have everyone bring something; wine,  appetizer, side dish, dessert and everyone's cost will go down by 50-75%. 


Can you tell in the picture above if the people are having fun at someone's house or in a restaurant?  You'll  have the same great conversation and you'll enjoy the same wine for  a fraction of the cost if you have a dinner party with friends at home. You'll get to linger longer, enjoying a full evening without the pressure to vacate your table. You can even throw a great movie onto that big screen tv after dinner to top off the evening.  Create a theme... Italian food, Italian wine, Italian movie.

Everyone knows that we save money by eating at home, and all it takes is a little bit of planning ahead to have a fantastic experience like in the photo above. We also know we should live BELOW our means. We know that  all of those  daily items like lattes and eating out add up to drain our bank account by the end of the month...$5 here, $10 there mulitiplies like rabbits. The result of living at or above our means is that we don't have  money to invest. With no investing we become wage slaves...forever chained to a job that pays for the lattes and dinners out but nothing more. We don't get wealthy being a wage slave. The way everyday people become wealthy is they live below their means and invest the extra money. The investment multiplies causing the regular person to grow wealthy then they can choose to leave their job if that's what they want.

There are so many ways we can  live large and live below are means at the same time, it just takes a bit of imagination. Live your life big and fun but with the end in mind. How do you want to end up? With great memories and broke, or with great memories and financial freedom?

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Why Can't I Save Money?

11/22/2016

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​In 1901, the average U.S. family devoted 79.8 percent of its spending to  necessities (food, clothing and housing). By 2002–03, spending on necessities had been reduced substantially to 50.1 percent.  Since American families have been paying substantially less for necessities as time has gone  on where has the extra money gone?

In 1901, the average U.S. family could allocate only 20.2 percent for discretionary spending while in 2002-2003 they could allocate 49.9 percent  of total income for a variety of discretionary consumer goods and services... a 30% increase!

What happened was Americans started buying lots of stuff they did not need to exist.

In the 21st century, households throughout the country have purchased multiple computers, televisions, iPods, and phones. Americans have bought vacation homes, boats and expensive cars. Children go to summer camps, parents attended sporting events and theatrical and musical performances.  We've joined health & country clubs and taken multiple vacations. 

But just because something exists doesn't mean we have to go out and buy it.  You can see by the chart below that over time our savings have decreased. 
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                                                                                 American's Personal Savings Rate 1959-2015

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Many studies report that 69% of Americans have less than $1000 in savings. Today there was another article on this subject (see here) What is it that drives the majority of Americans to spend everything they have and more. I have some theories.

 1.  Keeping Up With The Jones (or Kardashian's)  What is modeled to us daily are people living a life of excess. Back in 1950 or even 1980 we didn't have channel after channel of television broadcasting people behaving badly and throwing money around. We  weren't assaulted  daily with stories of "famous" people spending thousands  in a night club, on a new car or on a  beach getaway with their new lover. 

What most people don't understand is that famous doesn't mean rich. Over the years in the mortgage business in Los Angeles I have been  privy to thousands of people's  financial details...many of them famous. Many of the jobs that make people famous are temporary, giving them short spurts of money followed by long periods of unemployment...and many never get high paying work in the entertainment field again. And those on reality shows aren't getting paid much at all...it's rarely reality and more about fantasy. But what is modeled to the world by this sector is a life of endless travel &  shopping with Starbucks in hand...not one of them has to trudge to an office in the morning. It all looks so fantastic on the pages of a magazine but it rarely is.

2. Easy access to credit. Back in 1901 people didn't carry credit cards. You could only buy what you had the money to buy, thus you were prevented from getting into debt. You had to save your money over time for big purchases. In 2015  the average household credit card debt was reported to be $15,675. Americans spend more than they earn. This does not bode well for a lavish retirement.

3. We're removed from our money. Unlike back in 1901...today people rarely carry cash. Instead you hold your phone up to the scanner at Starbucks, swipe your card all over town or push a button for one click ordering on Amazon. We aren't handing over cash thus the tendency to overspend  is much greater.  It  doesn't even seem like you're spending money when you swipe or click. Most people aren't keeping track of how much they spend or where there money is going and they're going broke one unnecessary purchase at a time.
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At some point we need to take responsibility for our future and  begin to spend less than we earn and invest the surplus...this does not mean we  suffer. Many people live big, fun lives without spending everything they earn. If you're one of the millions of Americans with no savings how are you planning on funding your retirement which is basically a permanent vacation? If today you choose to put a vacation on your credit card there is no way you will be able to afford your upcoming 20 year  vacation (7300 days). It's time to get real and devise a plan. All of those vacations,  lattes, gadgets and dinners out will only leave you with fleeting feelings of joy...then later you'll be left with the permanent feeling of a cold hard sidewalk as you lay down to sleep. 
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No one is coming to save you

11/21/2016

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 I hate to be the bearer of bad news but  if you think you have a juicy pension in your future don't count on it. Leaving someone else in charge of your financial future today is a huge risk...even if it is the  Federal  or State Government.

Just Google "Pensions"  and you will find loads of stories on how woefully underfunded they are. CalPERS...the Nation's largest pension fund  might soon be able to reallocate how much they pay employees
(see article here) . President Elect Donald Trump has plans for Government workers and their pensions (see article here).  And Dallas Texas might be on the verge of bankruptcy due to it's Texas sized pension deficit (see article here) .

Psychologist Nathanial Branden  has a famous quote from his book  Six Pillars Of Self Esteem,  "No One Is Coming To Save You". This is absolutely true for our financial future today more than any time in our modern history. If you are not taking your retirement into your own hands you will have no one to blame when your savings come up short.

I heard a great saying once from a baseball player..."Take the umpire out of the game." He was saying...score so many runs so  if the umpire makes bad calls that go against you it won't affect the outcome...you'll still  win. This is absolutely true for your  future. Create so much income for yourself so that if Social Security and your pension or that inheritance you are hoping for  never materialize it won't affect you...you had a plan B.

The best way I know how to create money for your future is to own rental property.  Rental property is like an ATM machine that spits out money every month. Once the loan is paid off you get to keep the majority of that money. One little building will save you, two, three or more will give you a lot more options when you retire. Options are what we want!

Anyone can do this. Anyone can buy a rental property...you don't have to be rich or have a high paying job. I have lots of stories about regular people who bought a lot of property over time...one at at time. The value and rents of their properties increased bit by bit yielding them a very nice income once the loans were gone.

You can start by using a low down payment and buying a 2-4 unit to live in...buying an owner occupied property requires a much smaller down payment. Then after you have saved some more money, you can buy another one...save some more...buy another.  It's not rocket science  and this is an investment that gives you total control. You pick where you buy, you pick your tenants...you aren't leaving this up to anyone else.


According to Time/Money in 2015 - 69% of American's had less than $1000 in savings yet the airplanes are full every time I fly and the restaurants are packed as I drive down the street. People are living beyond their means, spending and not saving and at some point we need to ask ourselves if that vacation and  all that eating out is  going to get us anything other than some temporary gratification. Save yourself first...buy a property then take that vacation. 

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No Books, No DVD's, No Expensive Seminars needed!

11/4/2016

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 Over the years I have been to a few real estate seminars to see what they were teaching.  Everyone has their method  they swear by, and for a few thousand dollars they can teach you how to get rich like they did.  I remember one time watching as people ran to the back of the hotel ballroom, waiving their credit cards in the air in a panic to buy the get rich in real estate kit at that "Special...Reduced For Just The Next 10 Minutes Price!".  Unfortunately most of those books and DVD's brimming with the secret method to get rich in real estate so you can tell your boss to shove it,  will end up never leaving the back seat of your car. Or...if you do happen to watch the DVD's, the  methods to get rich in real estate are so time consuming they are hard for most people with a job and/or a family to have the time to implement...they are basically a second full time job.

But good news. You...yes you...can get "rich" in real estate all on your own without any books, DVD's or expensive seminars.  All you need are mentors and there are plenty in every town in this country. I have had many real estate mentors in my life. You might be thinking...why would someone want to help me learn how to  invest in real estate so I can grow my wealth.  Because most people are good. Most people who have achieved a level of success want to help others do the same.  No one can buy all the real estate themselves so why not help someone else understand how it all works? Pay it forward.  


You only need to add the following two or three people to your life:

1. A mortgage  broker who owns rental property.
2. A real estate agent who owns rental property.
3. A third person who owns rental property and is willing to be your mentor. 


The first two are easy to find. Just ask around town for referrals for a good real estate agent and  mortgage person who own rental property. If you don't get any names call various real estate and mortgage offices and speak to the managers and ask them to refer you to an agent who owns property. This is who you want to work with. Ask to meet with them so they can help you get your plan together. Tell them you are interested in getting started  but also want to keep your monthly expenses down. Ask about starting with a 2-4 unit property that you will live in...they will help you qualify for the loan and find that property.

1. The mortgage broker is your first stop. They will tell you what you need to do to qualify to buy your first property.  They will have you gather your income information, run your credit and crunch the numbers.  Do not assume anything about your credit or income. Meet with this person and let them tell you if you can buy now or what you will need to do to get ready to buy in the future.

I have been in the mortgage business for over 30 years and it pains me when people are afraid to talk with me. They'll say "I have to fix my credit issues first" or "I have to pay off some bills first" You do not know if you need to fix or pay off anything. The mortgage rules are so vast and complicated you must meet with a professional so they can tell you if you qualify. You cannot know from hearsay or a few articles online if you would or would not qualify to buy a house. Meeting with a mortgage person is free...it doesn't cost a dime. We qualify people all day long - it's part of the job. If the one you meet with first isn't super helpful...find another one.


2. The real estate agent is your next stop. After  you have been pre qualified by your mortgage broker, you then find the right real estate agent to help you find the right house. I would never try to look for a house on my own and I have been a licensed real estate agent for years... but I  do  not sell real estate full time so  I always use a full time, professional agent.  Using a real estate agent is FREE when you are buying a house. The agent earns a commission paid by the seller after you buy. The agent will look out for you. They will help you choose a good neighborhood, explain the rental market, which properties are in the best school districts, etc. You need guidance.

Try to find an agent that owns rental property so they can offer you help on owning a rental property - working with tenants,  rent control,  specific laws, etc.  Meet with prospective agents, tell them what you want to do...own a few properties  over time. Make sure they know the 2-4 unit market well, not just the single family market.  Meet with as many as you want so you can build your team....BUT once you have selected an agent use that person. Do not run around town with multiple agents having all of them show you property. This is a commission business so if someone is going to spend their time showing you property respect that and use one person. 


3.  Find a mentor who owns rental property. 

This is not  a must before you buy your first property but  a seasoned mentor who has years of experience is a great asset to have at some point on your journey. I have learned A LOT from mentors and still do.  Your agent and or mortgage person can also be your mentors if they own property. You will find your mentors over time organically. Once you are in the business of owning  property you will naturally meet others who also own property. 

You will find your own system over time. You will learn the style of property that works best for you - that is the most comfortable for you to own given the amount of time you have.  Owning real estate does make you wealthy over time  but it takes time and some attention. Put your portfolio together slowly as you have the time and money. The last thing you want to do is create a second full time job with some crazy system that costs thousands of dollars!


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    Sandy Shaud, Licensed Mortgage Loan Originator, Licensed Real Estate Agent, Rental Property Owner  and M.A. In Spiritual
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