Did you ever hear the term “elevator speech“? This is a short story about yourself that you can tell people that you meet. It’s called an elevator speech because you’re limited to the time that it takes for an elevator to go to its next stop.
Years ago I developed my elevator speech. It goes like this.
“I help people purchase appreciating assets using mostly other people’s money, I also help those people divest themselves of these assets in what is usually a non taxable transaction” .
Sounds impressive, huh? Actually it’s quite simple. I’m a Realtor. I help people buy homes using other people’s money, that means they’re getting a mortgage to pay for the bulk of the property. And then I help them sell those homes. And when they sell them, most of the time it gets rolled over into another home, which means it’s the tax-free transaction.
So based upon this, one would think that I’m talking about a good investment. Which I am, it’s called your home.
Buying a home is one of the most common ways that you can build long-term wealth. Look at it like a forced savings account. And it’s a financial asset that you can use at a later time. You can use the equity in your home for other Investments. And you can build your wealth and you don’t have to pay Capital Gains taxes. And over all, homeowners are almost always wealthier than renters. And the reason is because they have that house.
So stop renting.
Buy a home.
Give us a call