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All in Real Estate
I’ve repeatedly seen two narratives told over and over again. First of all, debt is bad. Second, although debt is bad, having a mortgage is alright because it acts like a forced savings plan, slowly enabling borrowers to build wealth. But can't the “forced savings plan” idea can be extended beyond simply mortgage debt, if executed intelligently with low interest, short term debt?
It seems like everyone I talk to about real estate believes that condos are the most egregious rip-off in real estate. In my experience, it’s exactly the opposite. So… are condos worth it, after all?
How much does it cost to remodel a small kitchen? My ~150 sq. ft. kitchen cost around $20-$25k. A very small kitchen could be done for around $10k… and larger or fancier kitchens can cost $100k+.
HELOCs and refinancing aren't the only options for accessing the equity in a home. This week, I take a close look at a third option.
Private mortgage insurance (PMI) is one of the biggest ripoffs in real estate. Many people that have it don’t need it, and could remove it. Use this calculator to see if you qualify.
Congrats! You are entering the insane world of being a landlord. The only rub? How much to charge. It's a very important question, and one that is a little more complicated to answer than it may seem at first.
I've had a couple of questions swirling around my mind recently, and for whatever reason they all had to do Unicorns (startups value at $1b or more).
As I've been writing about buying and remodeling condos, I think it's about time that I go over how much it costs to do condo renovations on a budget. It'll be pretty much impossible to know whether you can turn a profit on a condo remodel if you can't ballpark how it costs to remodel your condo.
It's much cheaper (and easier) to buy and fix up a $300k condo than a $600k house. Having just purchased a condo and renovated it, I can confirm that the numbers pan out, but it's easy to pick the wrong plac and end up losing money. No one wants to buy a $300k condo, put $50k into it and end up with a condo worth $325k. Luckily, the right place can be fairly easy to find if you follow these guidelines.
