Note Buyers USA

Envision the property(ies) you would like to own 5, 10, or 15 years from now.

As real estate prices throughout North America(and throughout the world) have skyrocketed during the past five years, many potential first-time buyers and investors feel frustrated. They hesitate to buy and invest. But if you hesitate, you will only lag further behind.

Renters: Make Ownership Your First Priority
Your best chance today to own the home you would like in, say, 5 or 10 years is to first become a property owner as quickly as possible. Weigh carefully the advantages of buying a property that makes you some quick cash (rental income, fixer-upper, bargain-priced foreclosure).
Do not complain that prices have gone through the roof (remember, push aside the self-denying, goal-defeating self-talk).

How you choose your property and arrange financing can add (or subtract) tens (or even hundreds) of thousands of dollars to (from) your net worth.

Do you think you want to own a single-family house, a condo, or coop? Before you decide for sure, answer this question: Would you instead be willing to live in a fourplex for three to five years if that choice plumped up your wealth by $100,000 or more?

Own a Rental Property; Boost Your Affordability and Wealth-Building

For purposes of loan “preapproval,” most loan reps assume that you’re buying a single-family house or condo. The loan rep might say that, based on your income and monthly payments, the bank would loan you $200,000. If you’ve got $50,000 for a down payment, you could look at houses (or condos) in the $250,000 price range.

Mortgage affordability reckons on you

You’ve heard the advice, “Before you shop for a property, meet with a lender and get preapproved for a loan. The lender will tell you exactly how much you can afford to borrow.”
That advice seems right. Why pore over the menu at the Ritz Carlton when your budget says McDonald’s? But here’s the problem—and the opportunity.
In the world of property finance — for home buying and investing—the loan market offers thousands of lenders and hundreds of financing techniques. Plus, interest rates, closing costs, credit standards, and underwriting guidelines vary among lenders.
Read through the following list of 65 affordability techniques; these techniques only sample your loan alternatives.