11-2-2013 8-28-13 AMCalling All Home Renters…. I know many of you have heard the phrase “allow your money to work for you.” Stop and think about it - are you? Are you a renter or do you know someone who is renting or leasing a home, apartment, or business property? Stop throwing your money away; better yet stop making someone else rich on your dime! Let’s make sure that I am clear on renting. There is nothing wrong with renting if you rent with a purpose. If one chooses to rent, then choose wisely. Renting should be temporary and not for the long term. Money paid for rent will continue to build equity for your landlord and leave you high and dry without any return on the money spent during your rental agreement. 11-2-2013 8-28-31 AM Instead of paying your landlord’s mortgage, start putting your money to work for you by paying your own mortgage. The money you pay toward your mortgage will build equity for you, and not someone else. 11-2-2013 8-32-00 AMIf you already have a home… then consider investing in another real estate property to keep, sell, or rent. You then become the landlord or the seller and are able to take your profits and do as you please; hopefully that involves saving and doing your research to find the next investment opportunity. Home ownership can be a reality when you take the right steps for home buying success: 1. Check your credit score (If there are issues, find out what it will take to get your score where it needs to be. Clean it up and start making the effort toward owning your home!) 2. Contact a lender/bank to see how much you can afford. 3. Know your rights when making a purchase. ( Ask questions.) 4. Determine the best loan program for your particular situation; there are various home buying programs available today with excellent interest rates. Do your research. 5. Understand and be prepared for the costs associated with your purchase. 6. Start shopping for your home. (Have a realistic wish list.) 7. Shop for something you can truly afford; do not max out your budget. 8. Make and negotiate the offer. 9. Have an inspection prior to making the purchase. 10. After purchasing the property, keep it in the best condition possible for re-sale opportunities. 11. Pay extra monthly toward the principal on your property loan for quicker payoff and decrease the amount of interest being paid. 12. Start looking for your next investment! Until next time, be sincere, kind and intentional. Jackie Warner, Career Development Facilitator The Bridge “Where Community Matters”

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