- Week 1: Super Saving
- Week 2: Relating To Money
- Week 3: Cash Flow Planning
- Week 4: Dumping Debt
- Week 5: Credit Sharks in Suits
- Week 6: Buyer Beware
- Week 7: Clause and Effect
- Week 8: That’s Not Good Enough
- Week 9: Of Mice and Mutual Funds
- Week 10: From Fruition to Tuition
- Week 11: Working in Your Strengths
This week’s class was on Real Estate and Mortgages. I liked this class a lot. Dave has a ton of great information about real estate since he’s been in the industry his whole life. He has lots of funny and interesting stories.
Dave is anti-mortgage, no surprises there. He would love it if everyone paid cash for their mortgages but he acknowledges that that’s not going to happen. He does encourage everyone to pay off their house early, after paying off their debt and saving for retirement.
In this lesson he gave tips for selling your home. Things like to clean it perfect, including the windows and the front door. Basically life in your house as if it was a model home. You are moving anyways so pack up most of your personal belongings. You want the new buyer to feel like it’s their home as soon as they walk in. That won’t happen if you still have your ceramic rooster collection on display. He said to have no more than 2 gadgets on the kitchen counters.
He also said to get rid of any pets. Move them to grandma’s house while your house is on the market. He said that evidence of a pet will knock $10,000 off the price. Also bake some bread or light a candle before the showing to make the house smell inviting.
Of course he also talked about buying a house. He said to always buy in the bottom price range of a neighborhood. In other words, you want to own the cheapest house on the block. Why? Because location is the most important part of real estate, so a house in a good neighborhood will appreciate faster and hold it’s value better than a house in a less good neighborhood.
He also emphasized that a house must have curb appeal. If you are selling then spend some time on the front of your house. If you are buying keep the curb appeal (or potential curb appeal) in mind. It’s something you will want to have later. Another must have in a house is a good floor plan. The condition of a house can always be fixed, but a bad floor plan very hard to change.
Of course, Dave doesn’t want you to finance your house, but if you are going to then he says not to take a mortgage payment bigger than 25% of your take home pay. Also, always put at least 10% down on a 15 year loan. He goes on to explain all the different types of mortgages but I won’t bore you with that today.
Everyone was talking about their home buying experience, and with the wild market swings it made for some interesting conversation. The hosts have several properties so they went into some detail on those and how happy they are that they’ve paid off the ones they’ve paid off so far. They are also working on paying off their primary mortgage.
In last week’s review I said how the sharing portion of the class has kinda turned into a support group for The Pink’s and this week Mrs. Pink joked that we’ve become her weekly therapy session. I thought that was pretty funny.
Again, I really liked this class. It was one of my favorites. In fact, I really wasn’t feeling like going at all that night. I had a rough day and I really just wanted to put my pajamas on and watch a movie or something. As we were leaving the house I said to my husband “If I didn’t have to write a review I probably would just skip this lesson”. But I’m glad I didn’t skip it. Definitely worth showing up for.