Sometimes patience can be a virtue when making investments — hasty financial moves rarely turn out to be smart decisions. One financially literate real estate investor wrote in to Go Banking Rates about how waiting for the housing market to turn around led to not one, but two mortgage deals that continue to pay off to this day:
Be opportunistic when buying real estate. Now is a great time as prices are low and interest rates even lower. I purchased my first house prior to the last housing boom and was able to leverage its appreciation to buy a second property. I refinanced my first home and was able to take out enough cash combined with my savings to purchase a second home. This allowed me to move into a larger house, while keeping my other home as a profitable rental income property. Timing is everything.
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