A client called this week saying that he had to buy a property for his mother because she doesn’t have an income.
I asked if she had social security, pension, IRAs and he said, “Yes.” We were able to save him .25% in interest by having her be the borrower and he as the cosigner.
Don’t assume that because you’re retired you can’t buy property.
In fact, buying rental property could be the best move for your retirement (and retirement could come sooner than later).
The rental income may help you afford the housing payment and you can still qualify for a loan.
If you would like to learn more about increasing your cash flow while in retirement. Contact me today!
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Economic News:
It was a mostly quiet week.
However, the Federal Reserve meeting summary indicated that they will continue to cut back on buying treasuries; and they are worried that inflation is too low.
The weekly job numbers saw the biggest drop in employment filings in 10 years, and the PPI was up more than expected, killing the downward trend in rates.
So 3 good days, 2 bad days and we still came out ahead, with rates slightly lower than last week.
Tout the good news of slightly lower rates while they are still here.
Interested in investing but don’t know where to start? Contact me today for your complimentary 90 min. consultation.