Investing In Real Estate
Buying a Foreclosure home only offered a limited warranty deed what does this mean?
Limited Warranty Deed is fine as long as you have a title company representing you. It is this way since the lender never lived there. When selling the property in the future you would probably want to do a limited warranty deed as well. Banks only offer limited warranty deed so just make sure you are working with a good title company and you should have no issues. Make sure you get the owners title insurance policy also. It is usually judgments that would cause a problem.
When in debit it is not how much debit you are in that matters it is the type of debit?
If there was such a thing a good debit you would want it to be mortgage debit.
What is the difference between IRA and ROTH? And which one should you choose.
IRA is money that has never been taxed but will be taxed in the future. ROTH has been taxed and comes out tax free in the future. When we are talking about retirees the ROTH is a better option because anything in your pocket you have already paid tax on. You can put in 5,000 dollars a year when under the age 50 and 6000 dollars if you are over 50 years old. This is assuming you make the income limits you can’t make more than 100,000 per year. Best to time to start is now you need to start early so if you haven’t already now is a great time to start.
Student just finishing college is it better for them to put money towards paying off debit student loans, car payment etc. Or putting money towards an IRA, ROTH 401K?
Better to slower pay off the loan make minimum payment since student loans usually have a very low interest rate. Don’t go crazy and do both if you loss a job and run out of money then you are going to take the money out of the retirement fund. Knock off high interest debit first but keep student loans, and mortgages for last. Because of the lower interest rate and you also get tax deductions on them as well.