THAIFLOWERS

Posts Tagged ‘mortgage’

Much of this information regarding real estate/mortgage acceleration tactics may seem redundant to you. I am sure you have heard of many of these principles or strategies for paying off your mortgage early. There are pros and cons to paying off your mortgage early. Keep in mind most people keep a mortgage no longer than a few years. In fact the median time living in a particular piece of real estate is only nine years. Also the interest that you pay on your mortgage could be a tax write off you can take advantage of every year as well.

Palm Beach real estate has always been in demand, and even during Florida’s real estate slump of 2009, it was the last market to feel the pinch and is now the first to jump back in, with strong numbers for both single-family and condominiums for sale. Based on figures reported in the Palm Beach Post, in 2010 single-family home purchases were up 40 percent and condominium sales grew 35 percent. Based on real estate trends, the market is expected to continue to climb throughout this year and into 2012. Homes and condominiums for sale in Palm Beach continue to outpace the national average, and that’s a trend that’s on the upswing.

Real estate investing has many different facets. There is investing for the long term, the short term and our secret real estate niche.

By long term, we normally think of holding an investment and then renting it out. Most purchases for the long term are made using leverage, a small down payment and the balance covered with a mortgage. The monthly rent should cover the mortgage payments, taxes, insurance and repairs and eventually pay down or off the balance. A disadvantage is you have the ownership problems of dealing with tenants and toilets.