3 Easy Ways to Pay-off a Mortgage Faster

The Houston real estate market has never been hotter! This is great news for families who have been able to earn more equity, get top dollar and maximize their profits from selling their homes. For families who want to keep their home, try using one of the following tips to pay-off a mortgage faster, help save thousands in interest expense and align home equity with significant life events such as retirement or college education.

1. Adding in an extra payment annually:A mortgage is a big undertaking - everyone dreads paying it each month. Homeowners could potentially save over $45,000 in interest and cut down the length of their mortgage payment by about 5 years if an extra payment is added in annually. Be ready to tighten budgets, and to spend an extra $100 a month on a mortgage payment. These extra $100 payments will be applied to the principal amount, and cut the loan little by little.
2. Set-up a bi-weekly payment plan:Many lenders don’t accept half payments, so try to set up a bi-weekly payment into another account. Put half of the payment in a savings account, then pay the mortgage lender from that account. This may sound a little crazy but by doing this, there are 13 full payments made instead of 12!
3. Refinancing to a lower interest rate:One of the most common ways to lower a mortgage payment is to refinance because it helps save on interest payments. There are usually fees that go along with doing this, but individuals can recover these after some time. By refinancing, especially in today’s economy, an interest rate can be lowered. Never forget to check if other companies can offer a better rate!

By using one of these simple tips, a family could save big on their mortgage by paying-off their mortgage faster, without sacrificing their lifestyle. Think about the type of mortgage currently being paid and how it can affect all financial aspects over time. These do not save everyone the same amount, but they do work for everyone.

Houston’s Top 5 Outer Loop Neighborhoods

At a certain point in our lives, it’s time for some of us to leave the city behind. We trade the bustling streets of downtown for quieter communities outside the 610 loop. While suburbs have long been thought of as havens for soccer moms and bored teens, Houston’s outer loop communities have grown in atmosphere and amenities.

Many outer loop neighborhoods have become top spots for prime real estate and for good reasons. These growing communities often offer small-city life with only a half-hour drive from the excitement within the loop.

1. Cinco Ranch, a master-planned community known for its top-notch schools, used to be a suburb of another suburb, Katy. Now, it boasts a city center, La Ceterra, that hints at city life with bars, a Torchy’s Tacos and Trader Joe’s grocery store and a growing string of businesses off of I-99. As for the homes themselves, they’re often custom-built and on large lots - and are snapping up quickly.
2. Houston may be the energy capital of the world, but many of its oil and gas headquarters are well outside the loop. The Energy Corridor is home to many of these companies and their employees. The area has homes in a wider price range and lot size.
3. Looking for something a little more on the posh side? Try Bay Oaks. Further out than most, it’s located in Clear Lake and consists of large, luxury homes around a plush green golf course and country club.
4. Sedona Lakes and its 900 homes were designed to provide a small-town atmosphere not too far from the city. It prides itself on its “Arizona ambience,” derived from the natural stone imported from the region.
5. Meyerland is right on the outskirts of the loop. Just 15 minutes from spots like the Texas Medical Center and Downtown, it offers city living at somewhat lower housing prices and family-oriented neighborhoods. 

City life isn’t for everyone, but the suburbs can be just as exciting, especially with the rate of greater Houston’s growth. Do you live outside the loop and love your community? Tell me where and why in the comments!

How to Buy 10 Homes in 10 Months with only $10,000

How to Buy 10 Homes in 10 Months with only $10,000

On April 14th and 15th I will be leading a course at the Realty Investment Club of Houston (The RICH Club) in Houston, Texas.

This course is designed for new and experienced real estate investors who desire rapid acquisition with limited capital resources. We spend six hours over two nights exploring the strategies investors need to purchase 10 homes in 10 months with only $10,000.

The course is designed to allow investors to purchase more or less homes in more or less time depending upon their specific investment objectives. An investor does not need the $10,000 to start, but they do need access to these funds. A fundamental rule of real estate investing is "conservation of capital". We encourage investors to have available cash reserves when they start investing, but many start without this.

Cash is King! Or is it? This course teaches you strategies to fund your real estate portfolio. Whether you are flipping, buying and holding or considering niche opportunities like Notes, owner-financing, multifamily, commercial or other, knowing how to leverage your money is key.  

-Steven Kaufman, president of New York Mutual and Zeus Mortgage

By the end of this class you will be able to:

1. Develop a personalized strategy to fund your preferred method of investing.

2. Calculate Return on Investment (ROI), cash-on-cash returns, and other formulas for investors.

3. Locate traditional and non-traditional funding sources such as; self-directed IRAs, private money, hard money, banks & credit cards.

The RICH Club (The Realty Investment Club of Houston) is the oldest and largest non-profit trade association for real estate investors in the United States. By the way, you don't have to be rich to attend The RICH Club. You come to The RICH Club to educate yourself on real estate investing. www.RICHclub.org

To register for this course visit this link:

http://richclub.org/Events.aspx?ID=10-Houses-with-10k-in-10-Months-29-4-14-2015

Members of RICH only pay $199 | Non-Members only pay $249

This is the highest attended, paid course, that The RICH Club offers.

Houston Hard Money Lenders for Houston Real Estate Investor Lenders.