Short Term Buying Strategy

When I was offering my Stop Renting Now!TM seminars, most attendees I met had thought ofthemselves throughout life as "temporary" renters—no matter how old they were. It surprised me that most of these renters were in their thirties and forties. They had drifted from temporary personal situation to temporary personal situation. They told themselves, "Well, when I know for sure where I'm going to be and what I'm going to be doing, then I'll buy."

Unfortunately, while indecisive renters drift, housing prices do know where they're going—and that's up. So, if you face an uncertain personal situation, create a short-term buying strategy;4 then finance it with either

3 As Mortgage Secrets reveals, your financing choices extend far beyond this simple comparison, but let's keep these examples manageable.

4 Such strategies are discussed in Gary W. Eldred, Make Money with Fixer-Uppers and Renovations (John Wiley & Sons, 2003, 2008).

an ARM or a new assumable fixed-rate—if you're in a low-interest-rate environment.

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