BUILDING WEALTH

As published in a national publication, Baton Rouge is one of the best places to be living to weather the national turmoil we are now experiencing. Now with interest rates in the 4% and 5% range, investors can work on increases their wealth in local real estate.

If you have an interest rate higher then 6.5% it is time to consider a refinance. Do the math. Calculate how much is the difference of your mortgage payment from your existing rate compared to the new rate. Then caluclate how long do you need to keep that mortgage to break even. This will tell you if it is beneficial to refinance or keep what you have. How long do you expect to own that property? This is an exercise all of us should be doing TODAY.

These low rates will not stay here for long. I am joining in too. I am working on a 1031 tax deferred exchange and suggest other do the same. Now is the best time to re-evaluate your situation. Is it best to refi, upsize, downsize your personal home or simply acquire additional investments? Whatever fits the bill for you, now is definitely the time to take "action". Join me in doing the same. We will continue Building Wealth!