A LinkedIn article states that approximately 90% of millionaires attribute their wealth to their real estate holdings. As we know, buying and owning your own home is one of the biggest investments most people make. Handing down a real estate related investment portfolio to your children is a great way to create generational wealth. And there are multiple ways to make this happen. A great way is to invest in multi-units like duplex, triplex or fourplex (and larger apartment buildings). Doing this correctly will result in a positive cash-flow AND as time goes by, the property will appreciate. Another thing to think about is the ‘passive’ income the property will be producing AND it is a great hedge against inflation. One quote from Jim Rohn (Author and Speaker) said do something worthwhile like… “Build a financial moat around your family so that nothing can get through”. Whether we get there or not, it is quite a lofty goal to work at accomplishing.
Current Mortgage Rates:
So much for 5 rate cuts this year. Earlier in 2024 the senior U.S economist for Morningstar Research Services LLC thought the Federal Reserve could lower their rate 5 times this year and (in my January newsletter) I thought there wouldn’t be any rate cuts until we get closer to the presidential election. We may not get any! The economic data keeps coming in better than expected… Good and Bad news. The good news is that our economy is still very strong. Good job growth, low unemployment, and strong consumer spending. The bad news is … we haven’t hit the 2% inflation rate that the Federal Reserve Board Members are shooting for. Thus, no rate cuts.
Still, the housing market is strong. There are still more buyers than sellers and until that ratio changes, home prices will continue to rise.
May Facts: The Kentucky Derby is the first Saturday in May, Mother’s day is the second Sunday in May, Memorial Day is the Last Saturday in May and … May is named after Maia.. the Greek Goddess and Mother of Hermes.
Please call me or the office if you (or anyone you know) are thinking about buying or selling real estate, it will be our honor and pleasure to help them get what they’re looking for.
For a quick valuation on your home go to … ThisHomesValue.com
Wishing you and yours ALL THE BEST!!
