12/01/2023
🇺🇸 💸 🏡 One of the strongest wealth building tools is through real estate! 🏡 💸 🇺🇸 - Author: Christian Israel Ramos - This is the best and my favorite type of mail I receive two times per year. Once in April and the other in November. For those that don’t recognize this document, “yet”, it is the annual property taxes I pay for my home. I place an emphasis on yet because I’d like for everyone to become a homeowner one day. I share this, not to boost, but to educate those who are interested in becoming more familiar to homeownership. You see the way I see it, you’re already paying property taxes. As a renter, you are paying someone else’s property taxes. Making others and their families wealthier over the long term. Yes I know, just because you rent doesn’t mean you’re going to hell. It just means it’s serving it’s purpose for now, however with lots of sacrifice(s) you too can become a homeowner. When I purchased my 1st home, almost 16 years ago, I canceled eating out, not traveling, my cable, everywhere I could save just to savor the moment when I too could become a homeowner. Ever since then, homeownership is truly a gift that keeps on giving. Btw, interest rates were at the high 6’s low 7’s landing me at a 6.875% b/cs I had a FICO score of 807. Anyhow, I bought the worst home in the best neighborhood I could afford and boy am I glad I did. I’ve made major renovations over the course of the years and now it’s worth over two times what I paid for it. Not to mention, I owe pennies now b/cs I refinanced my home into a 15 year fixed down to a 3.875% two years after I bought it. All that to say is I have worked hard, earned a good income over the years and yet nothing else has ever helped me accumulate wealth and an inheritance for my children like the sacrifice(s) I made of buying a home. Oh by the way, stop renting a car too. Buy one cash, who gives a f@&$ what others say. Do whatever it takes for you and yours!