Loan Application Loan App Checklist Mortgage Calculators Contact Us Customer Login

Mortgage Blog

I am not only a loan originator
June 7th, 2020 11:25 AM
For lots of my clients, they would like to stick with me for a long time, even 10 or 15 years. And they know I would provide some "extra" advice on the investment, the RE purchase etc. 

I got an email today from one of my clients. He planned to purchase another property, and asked about the interest rates for 5% down. I told him to think about his goal and strategies. The reason was that he just did two refinances, and he paid down both his rental and his primary. If his goal is to purchase more properties, then why he paid down those loans. He needs to keep the cash on hand. Though we do not make money on those cash, but we can use them for the extra investment opportunities. If he kept the money, he could make 20% down, and get good rates for the future purchases.

I have a good CPA, and he worked for me for almost 20 years. At the beginning of covid-19, he emailed twice and called one to get PPP loan(I did not apply since my business was not affected). And I asked him about whether I need a payroll for my wife, and whether I need an LLC for my rental properties. He gave me very good advice.

A few years back, a lot of people told me that we could not find good financial advisors. One of the reason was that they are "expensive". And even if we happened to have the chance to get a very good one, we might think they are expensive and choose a cheap one. And you know , most of the time, the service is cheap for a reason.

Posted in:General
Posted by Eric Fang on June 7th, 2020 11:25 AMPost a Comment

Subscribe to this blog

Archives:

Categories:

My Favorite Blogs:

Sites That Link to This Blog: