Why doesn't everybody buy instead of rent?
Hello everyone!
I am currently a new real estate agent as well as an aspiring investor. In about 2-3 month I will have about 14-16k to invest in my first property. Now I am going to invest in a price point of about 60-70k for a decent 3 bed 2 bath in Oklahoma. Where I will be able to get a mortgage/taxes/insurance for about 350-500 a month. Rent in the area is anywhere from 800-1200 for the houses I am looking at. Now my question is why in the world would people pay much more in rent when they could buy with only a couple grand down and invest in there own property? I want to invest so badly but I need to learn a lot more first it seems because it's almost to easy. What am I missing?
Most Popular Reply
Approximately half of all Americans live paycheck-to-paycheck. This means that saving $15K is out of the realm of possibility for those people.