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Politics : Ask Michael Burke

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To: benwood who wrote (63044)	6/23/1999 1:51:00 PM
From: Skeeter Bug	Read Replies (1) of 132070

ben, here are some home buying guidelines i follow as best as i can: 1. buy a home close to what you consider a reasonable value (this will prevent buying homes when the 1988-89 bubbles occur). 2. buy a home where your mortgage + taxes equals about what you could reasonably charge in rent. 3. never pay points on a mortgage to get lower interest rates. if rates drop - refi. if they go up - you got about the best value anyway so be happy. anyway, they may go down later. 4. shop around for the mortgage. minimize fees and the rate. i paid 1/4+ less than the avg mortgage and i paid $1-2k less in fees by shopping around. other ideas include... 5. if you move, rent out the house. i own a condo and a home (paid more than i wanted to for the home, but was high end reasonable. i look forward to paying off the condo, moving to a nicer house and turning this house into a rental. don't rent to just anyboday (nightmare!), but treat your good tenants well. 6. do your taxes - have h&r block double check them - if they find something then they charge). 7. pretty soon you have 3-5 houses with a couple paid off. 8. retire w/ tons in equity and place to live....

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