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Ask the Experts!

Pete and Tricia are here to share the wealth of their experience in real estate financing, investing and wealth building.

Click HERE to send Pete an email and ask your question.

Click HERE to send Tricia an email and ask your question.

Your Total Funding experts will answer your email questions each week.

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Frequently Asked Questions

Email Question of the Week:

"I think renting is better than buying. I'm not buying ladders or lawn mowers. My landlord has to fix everything. I'm not at risk of being foreclosed on. I do not have to pay any 'interest' when I pay rent. Why would buying a home benefit me?"
Rick, Castle Rock

That is a lot of 'question'...let me try and address each point you make.

First of all the one of the single largest tax benefit in America is mortgage interest and the single greatest wealth building vehicle in America is Real Estate. If you are renting you are not taking advantage of either. The interest you pay on a mortgage is tax deductible, which can save you thousands of dollars each year on the taxes you pay....AND historically, real estate grows in value so you add dollars to your net worth each year without changing your life style...it just happens. So although you might not need to buy a $30 ladder or a $250 lawn mower, you are missing out on THOUSANDS of dollars each year in tax savings and appreciation of your home.

You can always decide to buy a condominium or town home where the complex (or Homeowner's Association) takes care of the grounds and exterior maintenance. This would save your the expense of the lawn mover and ladder.

In regard to not being at risk of foreclosure...if you don't pay rent you are out on the street...the same applies to paying your mortgage, however, if after several years you decide that you can't make your house payment, chances are good that you can sell your home and maybe even make some money...and you have already benefited from the tax and appreciation that owning real estate provides.

For a good idea of what renting costs you over time or how owning a home benefits you over time, go to www.TotalFundingUSA.COM and click on the 'calculators' link at the top of the page then select 'Rent or Buy Calculator' to access a simple-to-use calculator that works with your scenario to visually show you what we are explaining above.
Pete