Dolf de roos real estate riches rules
To set the record straight, we called on speaker, author, and world-renowned real estate expert Dr. Why not? Because of uncertainty, outdated ideas, and a simple lack of knowledge about what it takes — and doesn’t take — to invest in real estate. And considering all the benefits of investing in real estate — from tangibles such as tax incentives and equity buildup to intangibles like security and a sense of pride and accomplishment — it is also easy to see why.īut in spite of the rosy statistics, millions of financially able Americans still haven’t taken the profitable plunge into the real estate market. To get a sense of just how remarkable these rates are, compare 2004 with 1984, when the annual average rate of a fixed-rate mortgage hovered around 13.75%.Ĭonsidering the fact that even the slightest change in the interest rate translates into hundreds of dollars monthly and tens of thousands of dollars over the life of a mortgage, it is easy to see how people whose incomes would have made real estate investing an impossibility 20 or even 10 years ago have been able to successfully embrace this dream. Home buyers in 2004 fared nearly as well, with that average increasing to just 5.84%. In 2003, the average rate on a benchmark 30-year mortgage was 5.83%, the lowest in recorded history. What is fueling this incredible surge in home buying? In large part, it is the incredibly low interest rates we’ve seen over the past several years. Analysts believe new home sales hit a record high in 2004, and signs are good that 2005 will be another banner year for the housing market. Home ownership is a staple of the American Dream — one that more people than ever before are realizing. IS EVERYONE GETTING RICH IN REAL ESTATE BUT ME? Article by: