March 8th, 2011 8:57 AM by Eric Fang
I talked to one of my clients yesterday.I know he is doing pretty well on the realestate. And I am doing his purchase loanfor the 8th property now.
According to him, here is his guideline.1)He will purchase the property is the cashflow is over positive $500.
2)All the properties he purchased were builtafter 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 bottomthough it can go lower. So it's the time topurchase, but with his guideline of cash-flow.
But he will not purchase too much now otherwiseit will affect his quality of life.