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My mentor was THE first person to teach a seminar on buying houses as an investment. Even though Fannie Mae was formed in 1938 and could make 30 year loans, today ' s most popular tool for home financing, the 30year mortgage, wasn ' t even approved by Congress until 1948 for new construction homes and even later— 1954— for existing homes.
Well into the 50’ s and 60’ s lenders were still making home loans with 5 year amortizations. This meant much higher monthly payments and very few people could afford to buy houses to rent out as an investment. Once the 30year loan became popular, the value of homes began to rise.
By the 1970’ s( when I graduated from college) inflation was in high gear and house prices began to rise significantly. You might remember the author, Robert Allen, and his book,“ Nothing Down.” It was a bestselling book that made him famous( he learned his techniques from my mentor, Jack Miller, and wrote his book using those same concepts).
What is the moral of this story? Invest in what fits your personality. I like tenants who live in houses as opposed to apartments. I like longterm tenants that pay my house loans off for me. I like
Image from Canva Pro tenants with toolboxes that can fix things that break. I like tenants with families as they are more stable. I like houses because when I sell them the buyer doesn’ t ask,“ how much does this place
rent for?” Instead, they pay full retail and do not determine value with rent multipliers.
Choose the investment vehicle that fits YOUR personality but stay away from partnerships. Be in control one hundred percent! You will be glad you did.
MEET MR. LAND TRUST RANDY HUGHES
I encourage you to learn more about the benefits of using a Trust to hold title to your real estate investments by going to my FREE online training at www. landtrustwebinar. com / 411 and text the word“ reasons” to 2062032005 for my free booklet, Reasons to Use a Land Trust. You can also reach me the oldfashioned way by calling me at 217355 1281.( I actually answer my own phone, unlike most other businesses in America today!)
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