Page 15 - HomeFit.17 - Hakola

From the desk of Dan Landers

matters; and the experience of millions screams that you should definitely not
make a huge investment like this when you are covered in debt - even if you can
swing the payments.

Even if I wasn’t the one to tell you this, it wouldn’t take you long to find
out: Banks aren’t eager to take risks like this, even if you may be. Just
because you were approved for your first mortgage doesn’t mean that all banks
easily hand out cash. There are too many people who get in over their heads and
then get offended that the bank expects to be paid. You don’t want to be one of
them, or your future dreams of home ownership could be pretty bleak.

If you’re wise, you’ll focus all your efforts on getting out from under those
school debts and car payments. Not only will that free up your budget, but it
will also make your credit gleam. After you’ve experienced what it takes to get
out from under a mountain of debt like that, you’ll be more ready to tackle an
investment like a house flip.

You never know what will happen in the next few years. Just because you’re
single now doesn’t mean you won’t be married with children in the next five
years. Life happens, and it happens fast. You don’t want to be stuck scraping
wallpaper and sealing grout every Friday night for the foreseeable future just
to please your brother.

I’m sure your brother means well, but he isn’t responsible for your financial
situation. As an adult, you are. Now is a great time to learn the valuable
skill of ignoring people who cross the line and try to make your life suit
their plans when they have no real understanding of your situation nor any
obligation to help you when their counsel proves faulty.

I hope I don’t sound too much like a party pooper. I agree, the next-door condo
does sound like a great deal - for someone else. For you, the best idea would
be to relax, excel at your new job, and focus on getting out of debt so that
you’ll be available when the right opportunity comes knocking.

Best regards,
Dan Landers

15