January 4, 2015 Leave a comment
We all been there before. Year after year filing the tax returns ride high for a minute and back right where you started the next. I’ll make a big purchase and by a car. I’ll pay 3 months ahead on my rent. That’ll give me enough breathing room til May or June.
The car breaks down. After the 3 months are up, the landlord will be knocking at the door singing “What have you done for me lately?” Then you think, What Happened?
We look at television and see MTV cribs. 5000 sq ft houses on the lake. Yes they exist and everybody wants that but chances are it may not happen immediately. The chances of going straight from a rental flat to there may not immediately happen. Winning the lottery or becoming the next hottest rapper may not be on the agenda either.
The next time you walk out your door look around. What do you see? Any lakes? Any 5 car garages? No, but you ride by them sometimes. This owner is the CEO of this company, that one is owned by a person who owns 60 rental houses in your area. Get the point? If you rent a property in the worse area of the city. It does not mean that you cant do better. YOU CAN DO BETTER! You can own a house in the worse area of the city. You live there anyway. Why not cut your largest expense? If you pay $500 a month in rent and you make $10 an hour on a full time job. You bring home $1200 after taxes. Do you realize that 55 to 65 percent of your money will go to living expense. This leaves you with very little of the wants because you are always buying the needs.
Weigh your options pay upfront for a house today, never have to pay rent again. Cut your expenses drastically.
Finance a house, cut your payment down. Gives you more stability.
Or continue to rent, with nothing to show but a rental receipt.
Remember you can always sell your property. But you can’t sell your rental.
There are so many opportunities to buy a house right now and cut that expense so eventually you can get some of the wants. There are houses in your same area that can be purchased for cash. Some for the same amount of your tax return. Some properties can be financed and monthly payments can be at or below what you pay in rent. Some down payments can be about the same to what you would pay to move into someone else’s property.
Look to gain your financial freedom and empowerment.
Your 1000 sq ft castle is just as good as the 5000 sq ft house that you dream of. WHY?!?!!? How?!?!
Because it’s yours !!