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Buying vs. Renting a Home

If you’d like to be buying vs renting a home, we can help you get out of the rent trap!

We honestly believe anyone who has the desire and discipline can move to buying vs. renting a home. Owning a home isn’t easy. If it were easy, everyone would stop wasting their money on rent.

If you are a renter who is feeling trapped, the following three actions may be the start of your way out of the rent trap:

  1. Stop believing negative myths: These may be stealing your homeowning hopes and keeping you from acting.
  2. Adopt a New Mindset: The mindset of the type of person who ends up buying vs. renting a home.
  3. Get help: Turn to someone who has had the experience and skill to get out of the rent trap.
Get Out of the Rent Trap | Renting vs Buying a Home | Jim Eagan | Limestone Investments | Real Estate Investment | Las Vegas, Nevada

Negative Myths | Buying vs Renting a Home | Jim Eagan | Limestone Investments | Real Estate Investment | Las Vegas, NevadaStop Believing These Negative Hope-Destroying Myths About Buying vs. Renting a Home! They’re Absolutely Wrong!!

You have to make a lot of money to own a home. FALSE!

You have to make a lot of money to own a home. FALSE!

Owning a home has nothing to do with how much you make. It has everything to do with how much you save. Remember Prince? The guy dressed in purple? He was spending $30k a month on rent in Las Vegas. Crazy right? We have had tenants who made less than $25k a year purchase a home.

You have to have a lot of money to own a home. FALSE!

You have to have a lot of money to own a home. FALSE!

The government provides financial incentives for folks who are first time home buyers. We had a tenant who scraped together $3k and was able to purchase their own home. That tenant saved $8 a day. Some of our tenants spend that much at Starbucks and still rent!!

You have to have amazing credit to own a home. FALSE!

You have to have amazing credit to own a home. FALSE!

Your credit doesn’t have to be amazing but it does need to be good. The minimum score is about 640. We have seen tenants raise their score from 500 to 640 in less than a year with concentrated effort.

You have to be smart to own a home. FALSE!

You have to be smart to own a home. FALSE!

You just need to get help from people who are smart enough to own a home.

Adopt the Mindset and Behavior of a Homeowner | Buying vs Renting a Home | Jim Eagan | Limestone Investments | Real Estate Investment | Las Vegas, NevadaAdopt the Mindset and Behavior of the Type of Person Who Ends Up Buying vs. Renting a Home

You need financial discipline.

You need financial discipline.

If you don’t have financial discipline, work on it. Read about saving money. Hang around people who save money. Watch movies about successful people who have saved money. Figure it out. Saving money is about putting a little extra in a coffee can and doing without a luxury.

You need steady income.

You need steady income.

If you have a decent job, you are in business. Don’t screw up! lol. If you have a job you hate, suck it up for a little longer. You need about 2 years of steady income to prove to a lender you are not some flake. If you are self employed, you need to chat with professionals to leverage your business.

You need to work on your credit.

You need to work on your credit.

Pull your credit and get a professional to help you fix errors or pay off creditors. Building credit is not rocket science but does require persistence. This doesn’t happen overnight so just keep at it. You can learn more about credit reports and scores at this usa.gov official site.

Your first home is not going to be your dream home.

Your first home is not going to be your dream home.

Your first home will not be in the neighborhood or quality you are currently renting in. You and/or your family will have to suffer a little until you can afford your next home. You will need to do your time like everyone else.

Get Help | Buying vs Renting a Home | Jim Eagan | Limestone Investments | Real Estate Investment | Las Vegas, NevadaYou can do this! Getting help will make buying vs. renting a home happen faster!

Here are the top 5 reasons you should contact us if you are interested in buying vs. renting a home:

We have been in your shoes.

We have been in your shoes.

Barb and Jim Eagan (owners of Limestone Investments) left their homes as teenagers with little or nothing in their pockets. They know what it means and how it feels to be broke. It took them 30 years to get to where they are and they can save you from learning some lessons the hard way. They are constantly teaching agents and tenants how to escape the rent trap.

We can help you set goals.

We can help you set goals.

One of our agents will sit down with you to help you establish financial and credit objectives. We will meet with your or chat over the phone to keep you on track.

We can coach you along.

We can coach you along.

Owning a home requires a coach. We will be there to root for you and hold you accountable if you slip. A good coach is one who will be there for you when you need encouragement.

We will give you the right information.

We will give you the right information.

Our experienced agents are going to give you the right information you need to succeed. Knowing the purchasing process will save you thousands of dollars and a lot of headache.

We can work with your existing lease for a smooth transition.

We can work with your existing lease for a smooth transition.

Anyone who has the courage and discipline to own a home gets a break on the lease terms. We will work with your current landlord so you are not paying rent unnecessarily.

Do you really want to move to buying vs. renting a home?

 

We will schedule a one on one consultation with you to get you started buying vs. renting a home.

This could be your year to escape the rent trap!

Buying a Home? Learn More and Prepare for Success at the Buyer’s Start Page