Mortgage rates just hit 8%
According to Mortgage News Daily, rates just hit 8%. That's the highest level since mid-2000.
So you shouldn’t buy, right?
The way I see it, you have two options:
You can go sit in the corner with everybody else that will sit there.
You can wait out the market.
And just give up your dreams until the “right” time.
But you already know where that will get you.
Or you can choose option 2.
You can accept the fact that this is what being an investor is all about.
It’s about understanding risk.
It’s about understanding how to pivot.
And it’s about making the most of what the economy is giving us and taking ACTION.
Warren Buffett once said, “Be fearful when others are greedy, and be greedy only when others are fearful.”
The truth is that economies are neither good nor bad. They are what they are.
Sure, interest rates might be high, but there are a lot of opportunities that now exist.
And if you sit back and wait?
You’re going to miss out.
One of the opportunities is decreased competition.
With rates as high as they are, you can go into a place, take your time, do your due diligence, and make the right offer for you.
Not only that, but you can actually acquire a property for under its value right now because there’s no competition, and sellers still need to sell.
Of course, if you want to mitigate risk, work with a mentor. Because as the market changes, your strategies must also change.
And the best way to navigate those changes is to work with someone who’s in the game and knows what they’re doing (tap here to get mentored by me).
But the bottom line is that mortgage rates shouldn’t scare you.
They should excite you.
Because less competition means more buying power.
And then when rates come back down? You can refinance.
Think about it…
Wouldn’t you rather come out of this “recession” with monthly passive income instead of a pile of regrets?
If so, then you know what to do.
To your success,
P.S. There's another BIG reason you should be right now...
And that's because of a new loan option that can give you 5X MORE buying power.
In other words, buying now is easier than it ever has been!
But how can you take advantage of this new loan option?
Stay tuned because I'll show you in tomorrow's email, which will be part 2 of this series.
So keep an eye out for that email tomorrow.