Better area = better clients?

HI guys,
Thanks for all the info, I love it.
I currently have 5 rental properties, mostly condos but I am very interested in your system.

1. I am curious as to your idea of finding a better home and a better type of prospect with a more stable job.
Why would this type of a person not just go buy a house himself instead of thru me?

2. After the 2 years is up and they buy the house from me they would have to get a mortgage from the bank to do so. If they could do that after the 2 years why woudln't they do that to begin with?

3. Now that all of my investments are in a holdings company, the bank will not let me put 5% down anymore. It's always 15 - 25%. I would like to hear your strategy of 5% and How I would do that?

Thank you very much. I look forward to hearing from you. If possible I would like to discuss this on the phone with you.

JM
(Kitchener)

Comments for Better area = better clients?

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Nov 17, 2010
 RE: better area = better clients for real estate investments
by: Tom Karadza

Hi JM,

1. Good question! Mostly it comes down to this...they have good income but poor credit. Either a personal situation or a business situation has left them with a bad credit situation.

2. Yes, they would get the mortgage from the bank. They would qualify only if during that time they have fixed their credit. Two years is enough time to do this but three works better.

3. We hear you. We haven't found a way to buy property with 5% inside corporations...if you find one let us know! We're interested as well!

Tom

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