Stuart Rubin’s real estate tips

Real estate developer tips with Stuart Rubin? Assuming you need a 20 percent down payment. The long-held belief that you must put 20 percent down payment is a myth. While a 20 percent down payment does help you avoid paying private mortgage insurance, many buyers today don’t want (or can’t) put down that much money. In fact, the median down payment on a home is 13 percent, according to the National Association of Realtors. How this affects you: Delaying your home purchase to save up 20 percent could take years, and you could limit cash flow that could be put to better use maximizing your retirement savings, adding to your emergency fund or paying down high-interest debt. What to do instead: Consider other mortgage options. You can put as little as 3 percent down for a conventional mortgage (note: you’ll pay mortgage insurance). Some government-insured loans require 3.5 percent down or zero down, in some cases. Plus, check with your local or state housing programs to see if you qualify for housing assistance programs designed for first-time buyers.

This is a very necessary process, used to ensure that your new home is free from defects that could potentially cost you thousands of dollars later to repair. Home inspections will often reveal problems that you can have the seller correct before agreeing to purchase the home. This is known as a contingency. Most offers are usually contingent offers. This means, that the offer is contingent on another factor, such as a favorable home inspection or the ability to obtain insurance. In general, contingencies are safeguards for both buyers and sellers, but should not be overdone. In addition, it is important to meet all deadlines and that all contingencies are met exactly the way the offer describes. Your agent is responsible for making sure contingencies are written correctly.

In contrast, the monthly PITI in the 50 most populous U.S. metro areas averaged just $1,434. That makes home buying a sport reserved for the affluent in those 25 most expensive metro areas. And that’s despite the fact that those metro areas include more than just pricey downtown neighborhoods. They include entire cities and extend into more affordable nearby communities, some suburban. To afford those PITIs of $1,430 to $5,946, you needed annual income ranging from $85,173 to $254,836. That’s a lot more than the $61,454 income you needed to afford a home in the 50 most populous U.S. metro areas. Those metro areas’ PITIs average $1,434.

Stuart Rubin info: Stuart also serves as a talent leader for Deloitte’s Risk & Financial Advisory consumer industry practice. This includes programming and sponsorship designed to attract, retain, develop, and advance a diverse workforce and strengthening our inclusive culture where all our people can connect, belong, and grow. Stuart regularly presents at the Institute of Internal Auditors (IIA), Information Systems Audit and Control Association (ISACA), and accounting industry conferences on emerging trends in the assurance, internal audit, and security/privacy spaces.

He is the National leader for Deloitte’s Controls Advisory practice, incorporating emerging technologies like RPA, cognitive, and analytic visualizations to deploy scalable, tech-enabled, automated controls and compliance solutions that deliver meaningful business outcomes, generate higher ROI and lower Total Cost of Compliance (TCC) when compared to traditional control design, monitoring, and testing.

Stuart Rubin, can very well be dubbed a real estate expert. He enjoys his work, and his interest in real estate development is the secret to his success. The bank was publically traded, and all shareholders were proud of the disposition and the financial solvency of the bank at the time of the sale. Mr. Rubin has served on the board of Hebrew Union College, Vista Del Mar, and the L+R Group of Companies. Find even more details at Stuart Rubin.