Great Deals Abound!

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In October, I had the opportunity to watch a once upon a time renter turn into an investor overnight.  Now, I know that just by making that comment, this is what got us into trouble a few years ago, the mindset that somehow we could buy alot and not have to pay much.  Well, that isn’t the case here.  My client, Ming Li had been watching the market for some time and finally decided it was time to purchase a property forherself.  She even proposed that if she found just the right place, that she could afford to buy a second property for investment purposes.  She ran the numbers and decided on a specific need for living space and what she would pay, then in looking at what she had left over, decided that given the proximity of the first to the second property, could in fact buy a seond one, rent it out and manage it comfortably.  We looked at several properties and found two great buys.  Make no mistake about it, we often look back and see where the bottom was, but as we are moving through it, can sometimes speculate far too long and miss out.  Oh, and by the way, she paid cash for the second property, which was a 2 bedroom 2 bathroom condo @ $70K in excellent shape!  I thought this story would at least inspire you, and if you know of anyone who is looking, let them know that it is a great time to buy as well.  Congratulations Ming!