| There is an old expression – Time is Money. It’s never been more true than in our business today. Every day that goes by this year we are at the risk of rising interest rates. When the Fed announced they would be raising rates this year it can be hard to wrap your head around exactly what that means. The average rate you’ll pay for a 30-year fixed mortgage is 4.54 percent, an increase of 6 basis points since the same time last week. Last month on the 25th, the average rate on a 30-year fixed mortgage was lower, at 4.25 percent. Every 1/4 point, or 25 basis points – a $400k mortgage increases by $58. By this time next year the difference in buying a house now and a year from now could be $500 a month – maybe more. So what will happen? Some people will just buy less of a house – maybe not have as many features or total living space. Some people will move their search to a different location – perhaps where it’s more affordable. What about if you’re selling? Some sellers may get scared and start to lower their price. Some other people will get frustrated because they don’t have people lining up on day 1 to make a crazy over listing price offer. The one thing I don’t want to happen to you – please don’t be skeptical and start to think that this business just doesn’t work any more. So – this month let’s get rid of the skepticism and jump in and comb through the details of what it takes to do a successful deal – IN OUR AREA. I hope you join us tonight for our March WREIA meeting at 7PM. My goal this month is to keep you OUT of trouble on your first flip. Let’s give you some good expectations of what it’s like to flip a home in the DC area, and even a little taste of what it’s like outside of our hometown. We are going to cover some good stuff tonight. The renovation process, hidden spots to find some extra profit, and even some easy pitfalls that most new investors could easily avoid with a little planning. Join us in just a few hours for our March WREIA meeting. The topic for WREIA this month is: “The Ultimate Guide to Your First Flip” Bring some questions. We have a great group of investors who tune in to watch, interact and help other local DC area investors each month. Come join us! My sole focus for the March 2022 WREIA meeting is: Helping you understand the process, the hidden profits, and the pitfalls of your first flip. Spend a few moments with us at our WREIA meeting tonight– it could save you a fortune down the road. See you in a few hours! Remember to grab a virtual reservation here and we will send you a reminder a few moments before we kick off the March 2022 meeting Monday at 7PM. Go ahead – grab a ticket. (And yes, there is still no charge to attend.) |
| Taking Action Is A Key To Success. |