The Expert Podcast

• The Crazy Real Estate Market: With rising interest rates (nearing 8-9%) and skyrocketing home prices, is it still possible to buy a home?
• Strategy to Get Into Homeownership: Consider buying the cheapest house you can stand—it's better than renting and will get you into the housing market.
• Example of Affordable Housing: A small 2-bedroom, 800 sq. ft. house in Crawfordsville, Central Florida. It's a livable home, not brand new, but still in decent condition. It's on a quarter-acre lot and not far from water.
• Why This Strategy Works: Even if this isn't your dream home, it's a start. A 5% down payment may cost around $67,000. Your mortgage payment could be as low as $800/month at a 7% interest rate—less than typical rent.
• Building Equity: Live in this house for a few years, build some equity, and maybe sell for more than you paid. Your payments are going towards a mortgage, not rent.
• Affordable Homes Are Out There: Many homes in the $200,000 range offer a mortgage payment lower than rent. This allows you to start building homeownership wealth.
• Tax Benefits: Homeowners enjoy tax benefits, such as the ability to deduct mortgage payments from income.
• Advantages of Homeownership: While there are maintenance responsibilities, owning a home gives you stability. Your mortgage won't increase yearly like rent, and you won't face lease terminations.
• The Bottom Line: Don’t wait for your dream home to become affordable. Buy what you can afford now and work your way up the homeownership ladder—an important path to wealth creation.

1. Homeownership is a long-term wealth-building strategy.
2. Start with the cheapest home you can stand to get into the housing market.
3. You'll have more control over your living situation and potential financial benefits in the future.