52 min listen
450: How Your First Time Home Buying Decision Affects Long-Term Wealth with Scott and Mindy
450: How Your First Time Home Buying Decision Affects Long-Term Wealth with Scott and Mindy
ratings:
Length:
71 minutes
Released:
Mar 11, 2021
Format:
Podcast episode
Description
First-time home buyer? At some point, all of us were. How do you make sure you’re getting a great deal, how should you pay for it, and what can you do to make sure it’s a purchase that will help you grow your wealth. In today’s episode, you’ll hear from Scott Trench and Mindy Jensen, hosts of the BiggerPockets Money Show. Their new book, First-Time Home Buyer, shows how to buy your first property in a way that sets you up for long-term success.Most people see their primary home as an investment, but that isn’t usually the truth. Housing is a cost, and like many costs in life, we should try to minimize it when we can. Having a lower housing cost can allow you to invest more of your money, build up safety reserves for repairs, and have the financial bandwidth to live with less stress. Scott and Mindy debate cash flow vs appreciation, how much you should put down on your home, and what kind of liquidity position you need to be in to find success in your purchase and future endeavors. Even if you’re not looking to build a rental empire, this is a fantastic book for anyone who is looking into buying for the first time. Don’t know about equity, title insurance, or other real estate terms? No problem! First-Time Home Buyer has you covered. In This Episode We Cover:What will 2021 hold for real estate investors and first-time home buyersIs appreciation or cash flow a better metric to measureHow to have a primary residence that sets you up for long term wealth The 5 steps to finding a great deal on a primary residence Looking at the market even when you’re not ready to buyWhat people get wrong when they buy a homeAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets MoneyBiggerPockets Money Podcast 165: How ‘Finance Ninja” Daniel J. Mills Started at $30k a Year and Grew a US Rental Empire from JapanCheck the full show notes here: http://biggerpockets.com/show450See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Released:
Mar 11, 2021
Format:
Podcast episode
Titles in the series (100)
#2: Starting Out with Karen Rittenhouse – Subject To, Direct Mail, and Investing from a Woman’s Perspective: On today's show we talked with Karen Rittenhouse from KarensPerspective.com - an active real estate investor, author, trainer, and all-around great gal. Karen's started investing in 2005 and has acquired well over 150 properties during her investing... by BiggerPockets Real Estate Podcast