I'm thinking about creating a real estate platform where people would be able to sell, buy, and rent. I have taken the blueprints of Zillow and Trulia which are websites where people look at listings of homes for sale. Both Zillow and Trulia show prospective homebuyers the estimated montly mortgage payments for the listings they look at. The two sites estimate mortgage payments differently, however. For example, for a California home listed at $469,900, Zillow provided a monthly payment of $1,691 based on a 20% down payment and 30-year fixed-rate mortgage. It pointed out that estimated taxes and insurance of $309 per month were not included, which would bring the total to $2,000 a month. Zillow doesn't display the interest rate assumed to calculate the principal and interest payment. It only links to another page where you can get lender interest rate quotes based on your credit score.

For the same property, Trulia provided a monthly payment of $2,233, also based on a 20% down payment and 30-year fixed-rate mortgage, which the site broke down as $1,723 in principal and interest at 3.67%, $391 in property taxes and $117 homeowner's insurance. Truly will also take you to a page like Zillow's where you can see lenders' advertised rates.

The monthly payment estimates assume great credit, 20% down and don't take into account monthly homeowner's association or condo fees. Neither website explains this to the consumer. So I would like to create a platform with more reliable and accurate information. Also I would like to add information for first time buyers; FHA loan minimum downpayment 3.5%. Also, I would like to provide the blueprints of the house which none of these two websites provide. And lastly this would also be provided in an App so you could be anywhere looking up accurate information on your future home. The worst feeling is when you see an estimation based on 20%downpayment and other fees associated with the purchase, and when you contact the agent the number is COMPLETELY different! I thought of this because of how frustrated I get when looking up properties!

Take the Basic Steps

1. Get ORGANIZED

Keep track of all your important documents by labeling and keeping them in a safe place.

2. Buy a calendar

Write down your responsibilities. (We tend to forget sometimes)

It will keep you on track of what you need to get done everyday.

3. Keep track of your money

How much you spend and save per week .

If you are spending more than saving then changes are needed ASAP.

Disciplined yourself!

4. Be realistic  

Stop buying flashy and unnecessary things.

Stop trying to fit in! Do you really want to drive a Mercedes and have no money in your pocket? wouldn't you rather stand out?

5. Pay off your debt

Priorities first!

6. Create a savings/ emergency fund

Nothing is promised!

You never know what might happen tomorrow.

7. Create short and long term goals

Make sure you write them down on your calendar with a due date.

8. Create and maintain great relationships

Specially with the bank.

9. Create different sources of revenue

Never rely on one source of income.

Often times, there are many routes you can take to achieve financial goals and it’s difficult to determine which will be the most effective. Do you start with the easiest way, the most feasible, or the one with the most potential gains?