How can you know when the latest real estate investment is a money pit? Well that is a good question. If you find that you have spent more than the value of the home you are in trouble. It will be time for damage control. Do you bale out or ride it out? Riding it out is the usual choice as it is not in our nature to quit. If you can get out and stop the bleeding then that may be the best choice. The costs associated with the home can ecolate and you can soon be looking at a huge loss. You may be stuck with this Home For Life if you dont act.
Posts tagged saving
For those of us that have experienced the money pit, I feel your pain. A bad piece of real estate can suck the bank accounts dry all the time looking promising. I think we want to make it work therefore it must. The admission of failure always outweighs logic. We have to be able to look at our investments objectively to survive in the environment. Take, like an online broker , The reality that not all stocks will be winners is not a deterrent but an incentive to be vigilant. Stocks are risky at best and the real money made on Wall Street is by the brokers.
We all want o save money but few manage to get it done. Adam Kutner can be the answer to your quest. Real estate is the best place to save your money. It is a good investment and provides your family with a home. I would call this a no brainer. www.americasaves.org is a good place to start. Just take some time to look into how America saves and give it a try. I can’t seem to make a commitment to saving money on a regular basis without a load commitment. What I am saying is that a home loan is the best way to save you money for the future.