Originally posted by john9001
buy real estate
In the immortal words of Tony Soprano, “cuz god isn’t making any more of it”.
Investment loans for real-estate are booming. I’ve been quite surprised at the interest quotes I’ve been getting as well as the money down and terms.
Long and the short of it is, if your credit is good – beacon over 720, it shouldn’t be to difficult to find an investment loan for 6.5% or less (no points) with only 10% down fixed at 30 years. If you try and get into “contract to deed” with balloon’s and expectations of refinancing the interest it can get even better and at the end of it all have the equity and not have to worry about the PMI based on the previous appraisal. This can even be done with no money down if you find the right investor/broker.
Fair warning though. As the sale of previously owned houses has risen to all time highs so has the number of foreclosures. Interestingly enough most of those foreclosures are on investment property.
However, since it seems everyone and there brother is now investing in real-estate, I would definitely suggest buying some mutual funds! Especially if you reside anywhere around Kansas City
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