We were watching the movie, “The Green Book”(which I highly recommend)!
Dr. Don Shirley, a world-class African-American pianist based in NY, is about to embark on a concert tour in the Deep South in 1962. In need of a driver and protection, Shirley recruits Tony Lip, a tough-talking bouncer from an Italian-American Bronx neighbourhood. It was about all the prejudice that he experienced.
One evening, the driver was invited into this very fancy house to watch him perform but he chose to stay outside with the other chauffeurs who were African-American.
When the performer emerged outside he said, “why are you out here?”
Driver responded, “Well, the rest of the drivers are out here”.
“Yes, but you had a choice to be inside; they did not”, said Shirley.
I got thinking about how that relates to building wealth. There is no reason that you can’t do it. There’s no magic “line in the sand” that prevents you from stepping over it, setting goals, making choices and taking steps to create a better life. You just have to decide to do it and figure out the steps to get there. We love goal setting sessions and can help with that. Give us a call and get started today!
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#HowToBuyHouses
#InvestmentEducation
#MakeTheChoice
#BeOnTheInside
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Bryce/Penny Kander
This term holds new meaning for me. We are in Hawaii, and while out walking after a recent storm we found tons of avocados, limes, and guava just lying on the ground.
We went back the other day and the only fruit I could pick was low hanging fruit. The thought came to mind that this is like what’s happening in our economy. The first wave of people are paying attention and pick up ripe fruit off the ground; this is the windfall. Other people are picking the “low hanging fruit”. Those are the properties of sellers who are eager to sell; maybe the people that have to sell because they are in financial trouble.
Even though the state of things may be sad, it is a good time to buy something!There are good deals just “lying on the ground” or easily “plucked off the tree”. Sometimes they are tricky to see but if you keep looking you might find something great. They won’t be free like the fruit we found but they will be a great price.
Also, prepare for storms (drops in the economy) and try to have some shelter. Put some money away so that your investment won’t be blown away by the winds of change.
#TeamKanderCanHelp
#SaveForAWindyDay
#PickSomeFruit
#Windfall
Free real estate investment education at
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Bryce/Penny Kander
If you purchase a house with your 18+ child on title, giving them half of the ownership/title, you’d be able to purchase a legally suited house for 5% down instead of 20% down.
They would have to live there, so even if its not quite time yet, you could save this strategy for later.
There are many benefits to this!
1. You’re buying a rental for 5% down! Yes YOU only get half, but normally even half a house costs you 10% if you buy with 20% down.
2. Transfer of wealth when you die. There’s no estate tax paid when the ownership transfers to full title in your child’s name! Bryce’s Dad bought him a suited house this way when he was 18 and Bryce owns the full title now.
3. You can have your child manage the property for you since he will be living there.
4. The tax write offs are still the same; you’ll pay little to no tax on the cash flow.
5. You get 4X more leverage using 95% of the banks money instead of 20% of your money.
6. You’ll have a higher Return on Investment because you’ll have less invested.
7. You’ll have a 15% slush fund to pull from for emergencies (or if you want to go on a vacation.).
8. You can get 4 rentals this way instead of just 1 for 20% down.
9. You’re building a legacy for the next generations.
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#WiseInvesting
#BuildALegacy
Free real estate investment education at
https://www.facebook.com/teamkander/
Bryce/Penny Kander
