Mortgage Blog

I talked to one of my clients yesterday.
I know he is doing pretty well on the real
estate. And I am doing his purchase loan
for the 8th property now.

According to him, here is his guideline.
1)He will purchase the property is the cash
flow is over positive $500.

2)All the properties he purchased were built
after 1990. So low maintenance.

3)He does not allow late mortgage payment
for over 3 days.

4)He sent the tenants as gifts every Christmas
(around $25 value).

5)And most importantly, He is very handy.

For the market, he thinks it's almost bottom
though it can go lower. So it's the time to
purchase, but with his guideline of cash-flow.

But he will not purchase too much now otherwise
it will affect his quality of life.