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The RTP area has been voted as one of the top job growth areas in the United States by Forbes Magazine. Statistically, home prices follow job growth. This area is a very stable, upwardly trending market. Money magazine has voted Cary and Raleigh are the #4 and #5 cities in America to relocate to. If you live in this area, you already know about how the traffic around here indicates how many folks are moving to this area. Regardless of where you live though, real estate in general has produced more wealth than any other and many combinations of industries combined.
Real estate is less volatile than the stock market and real estate provides an outstanding tax shelter. You would be smart to consider real estate investing as part of your asset allocation model. Having a mentor to help you (such as an investor's buyer's agent) is a good idea. You really want to find and buy properties, if possible under value, that have the ability to appreciate in value. Your buyer's agent will share the current market trends with you and help you find the best deals. You don't pay for a buyer's agent, why not have one? Hopefully they can negotiate closing costs for you and even help you pinpoint value deals that you are able to buy below market. It is important to realize investment property is a specialty and it is advisable to work with a lender and a realtor partner that are involved with real estate investing themselves. That way they understand and "sweat" the way you will "sweat." They need to walk the talk! The folks on our team each own and manage multiple investment properties and have the experience to navigate and help you develop a plan for adding real estate to your asset allocation model... How you do this is important. This is not monopoly money we are working with, it is your savings. Please avoid just thinking one transaction at a time and share your 3-5 year goals with us as planning/strategy is critical to obtaining the very best financing rates and in putting together the best plan for your family.
The down payment requirements and the interest rates on investment properties are different (a little bit higher) than your primary residence loans or vacation homes. A real "preapproval" is critical to get the best deal on the property so that if you need to close quickly, we can do that for you and this will help you get the very best deal on the property. We offer a strategy session where we meet with you and review your situation before you find a property. This gives you the most power when you are negotiating because you will have a real "preapproval" versus just a prequalification.
There's no substitution for experience. We do have 10% down investor property loans. Talk to us about how you could use the concepts of Equity Management to essentially 100% finance your investment property. If you are self employed or shelter your income well, we do have no income verification loans on investor loans. These programs are very special programs, unusual programs and are hard to come by. We work with a variety of investors to provide the broadest and widest range of products. Please call our office at (919) 414-4430 to arrange your free strategy session or you can reach us at amy@amybonis.com.
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