In The Press
February 24, 2018 The Upside To Downsizing - How To Save Money By Living Minimally
By Jodi Thornton-O'Connell
#7 Become a Landlord
"Moving into a smaller home often comes with a smaller price tag, but you might be able to make money in the process, too. Sandra Shaud, a mortgage broker and an expert on real estate for retirement, suggested buying a two- to four-unit property with as little as 3.5 percent down using an FHA mortgage program. "Live in one unit and collect rents from the other units, which greatly reduces your monthly cash outlay," she said. Not only do your tenants help make your mortgage payment, but you'll live rent free and have an income once the property is paid off as your property value appreciates."
See full article here
March 5, 2018 ...5 Smart Ways To Leverage Your Home Equity
By Holly Johnson
"While using the home equity in a first home may seem like the smartest way to purchase a second property, there are pitfalls to be aware of, says Shaud. If you’re buying a vacation home but have to use equity from your primary residence to afford it, for example, this could be a sign that you are “in over your head,” she said.
Borrowing against your home equity to buy a rental home is another story, she says. Because a rental home is an investment that can help you earn money, accessing your home equity can make sense. Ideally, you’ll use your home equity as a down payment for a property that returns enough cash to cover the mortgage, property taxes, insurance, repairs and the home equity loan payment, says Shaud."
Read Full Article Here
By Jodi Thornton-O'Connell
#7 Become a Landlord
"Moving into a smaller home often comes with a smaller price tag, but you might be able to make money in the process, too. Sandra Shaud, a mortgage broker and an expert on real estate for retirement, suggested buying a two- to four-unit property with as little as 3.5 percent down using an FHA mortgage program. "Live in one unit and collect rents from the other units, which greatly reduces your monthly cash outlay," she said. Not only do your tenants help make your mortgage payment, but you'll live rent free and have an income once the property is paid off as your property value appreciates."
See full article here
March 5, 2018 ...5 Smart Ways To Leverage Your Home Equity
By Holly Johnson
"While using the home equity in a first home may seem like the smartest way to purchase a second property, there are pitfalls to be aware of, says Shaud. If you’re buying a vacation home but have to use equity from your primary residence to afford it, for example, this could be a sign that you are “in over your head,” she said.
Borrowing against your home equity to buy a rental home is another story, she says. Because a rental home is an investment that can help you earn money, accessing your home equity can make sense. Ideally, you’ll use your home equity as a down payment for a property that returns enough cash to cover the mortgage, property taxes, insurance, repairs and the home equity loan payment, says Shaud."
Read Full Article Here