Quotes of the Day

Here is a potential structure of buying a new build: 1) $5,000 on singing the contract; 2) In the first 30 days, you'll give 5% of the purchase price; 3) Within 90 days, you give a second 5% deposit; 4) Within 120 or 180 days, your third deposit is due which is another 5%. 5) On occupancy, your final 5% deposit is due for a total of 20% down. Many builders take two to four years to close, so you really have quite a bit of time to save for the final 5% deposit and closing costs. This is the route I chose with my first few properties. [2021] - Shazia Virani

In general, the larger the stock, the better that technical analysis and other tools will work for you. [2009] - James DiGeorgia

Invent several options all equally acceptable to you and ask the other side which one they prefer. You want to know what is preferable, not necessarily what is acceptable. You can then take that option, work with it some more, and again present two or more variants, asking which one they prefer. [1991] - Roger Fisher

Buying Standard Example: 1. Multifamily property. 2. Cash flows of $200 per unit, per month after all expenses have been paid. 3. Property must be purchasable for a discount (at 80% of what it's normally worth). 4. Property's value must be capable of being improved by 10% during the first year through "forced appreciation" (such as a paint job and landscaping). 5. Property must appreciate at 3% per year after year one. [2015] - Brandon Turner

If falling rates are too tough to resist, but you want something less risky than a variable rate, consider a fixed open mortgage. Your rate is guaranteed, but if rates fall to an even more attractive level, you can lock in at that point without any penalty. It's usually not worth paying the premium that lenders charge for open mortgages (usually a percent or so), though, and you have other options. [2019] - Eric Tyson