London Free Classes How to Manage Debt & Buy Your First Home

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Learn, Teach & Save @ the same time!

FINANCIAL WORKSHOPS

#1 Increase Cash Flow & Debt Management

#2 Building A Strong Financial Foundation & Proper Protection

#3 Building Wealth & Asset Accumulation

#4 Retirement & Education Planning

#5 Estate Preservation & Wealth Transfer

ABOUT ME

Feeling hopeless for buying first home.

"My wife and I used to rent the main floor of a house for $2180 a month. We have decent jobs and have saved about $40k to put down so far. But every mortgage calculator we’ve tried to see what we could be approved for has left me feeling hopeless."

I was in a very similar situation as with a down payment (35k) and I just purchased a home last year! It still feels like a horrible mistake however every time I go over the math, in the long run and even the short term it most definitely was the right decision. You will have to drop your purchase price significantly, we bought at 480,000 and our monthly expenses for the mortgage/property tax is ~2500/mo, compared to the 2200/mo in rent we are currently paying it's a no brainier for me. It's hard to find something in this price range but you'd be surprised what you can find if you expand your search area a bit. You also have to lower your standards as well, you're not going to get your dream home on the first go.

Look, a home will cost MINIMUM 5% of its purchase price to own EVERY YEAR. (Interest expense, property tax, insurance, and opportunity loss of not having that down payment invested)

5% of 600K is 30K/year or around $2500 per month.

The only reason the math ever works is because land tends to appreciate in value, and mortgage costs go down over time while rent increases over time. But your first few years are going to be VERY rough on finances.

You might feel like renting is “hopeless” but so are your first couple of years of home ownership especially with big mortgages.

A home I have only has 400K mortgage and yet our rental income of $3200/month BREAKS EVEN OR LOSES MONEY. And that’s not even considering all the equity.

I WILL TEACH AND HELP YOU SAVE FOR YOUR FIRST HOME IN NIAGARA REGION.

MASTER THE BASICS IN 5 DAYS!

Workshop subjects are independent and you may take them in any order.

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