“Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” — Franklin D. Roosevelt
Solano Real Estate Scene: Famous real estate quotes
I always tell my clients that cosigning with your son or daughter on a house is much safer than cosigning for a car because a house cannot be stolen, and it can’t be driven 90 mph. When you cosign on a house, the cosigner is on the title to the home.
“Owning a home is a keystone of wealth . . . both financial affluence and emotional security.” — Suze Orman
I always tell my clients that when my wife and I were younger and before we bought a house we were thrown out of a four rentals, once for having a second child, once for having two cats when we were only permitted to have one, once for playing Peter Frampton and The Beatles too loud and once for constantly paying the rent between the fifth and the 10th rather than right on the first. These moves created emotional insecurity and fights between me and my wife. Mortgage companies give you a 15-day grace period and they can’t throw you out until you miss a few house payments. The foreclosure process takes 120 days after that, giving you usually six to nine months to sell or figure out a payment arrangement with the bank.
“The major fortunes in America have been made in land.” — John D. Rockefeller
“Buy land because they aren’t making it anymore.” — Mark Twain
Banks and insurance companies understand real estate. They pay us 2 percent to 6 percent for our savings and our investments and then they invest our money in mortgage loans and income-producing real estate and get 6 percent to 12 percent returns. As the magic of compound interest kicks in over time, they make huge profits.
Every millionaire I have ever met owns real estate and even those who only own their residence, they all seem to own that free and clear by the time they are done working and retired.
“Be an owner not a loaner.” — Jim Porter