The ARGUS H.O.M.E (Home Ownership and Market Education) initiative is dedicated to providing opportunities to connect communities to equitable housing opportunities and to the support of work that addresses the wealth gap closure within communities of color throughout the region.
Learn more about the potential of real estate investing and how it can be used to build wealth.
During this time of inflation hikes, companies downsizing, and interest rates rising; I am often asked is this a good time buy or sale real estate? The answer is yes! Real estate one of the avenues for creating generation wealth whether you are purchasing your own home, rental properties or flipping for investments.
In the St. Louis Metropolitan area, rent could range from $800 to $2500 a month for working class people. Of course, they can go higher depending on area and condition of property. However, for this example that would be an average rent of $1500.
In a twelve-month period that would be $18,000 paid toward renting something you will never own or get any equity out of. Depending on the type of mortgage loan and interest rate you could buy a home for that type of monthly payment. Real Estate will always be a need, simply because everyone needs a place to live.
Turning that necessity into an opportunity to build wealth just makes since. There are many programs that help home buyers or sellers, professional worker, Veterans’, and empty nesters to purchase property and help them achieve their financial goals through obtaining their first mortgage, refinancing their existing homes or tapping into Home Line of Credit (HELOC).
Investors are flocking to the Midwest to buy and sell property because we still have a competitive edge on the real estate market and affordable property. The home that is showcased in this article is a prime example of how wealth can be built.
Following is an example from Ms. Sherice Williams University City resident regarding her personal experience of purchasing home after a divorce and starting over. She is an up-and-coming real estate investor that bought a Hud home in University City in 2015 and paid $41,000, she renovated home for $40,000 which a total investment of $81,000.
Her home is valued at over $200,000 now. In 8 years over $120,000 in equity! Although every purchase may not end up with as much value as this property, but understanding investing, rate of return and how it works is a great way to expand your investment portfolio.
For more information of purchasing, buying, selling or wealth building through real estate call “The Real McCoy,” Radius Realty, 904 S. 4 th St., Ste.201, St. Louis, MO 63102 (314)337-9466.
