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Critical Mistakes for the Investor to Avoid: The Loan
Critical Mistakes for the Investor to Avoid: The Loanby John Occhi REALTORRealtor Consultant to Foreclosure Investors
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Many real estate investment mistakes can be avoided all together if the investor simply compares apples to apples when considering different loans.
I know, it sounds obvious, but sometimes I think loan packages are as confusing as buying a mattress. You know, you have seen the news expose on the mattress industry where a manufacturer will produce the exact same mattress and sell it under a different model name to each of its retail distributors so the retail guys can advertise the lowest price on that model...because it only exists in that one store.And that's the way loans can be spun. The same item can be called so many different things and the pricing can either be in basis points, a percentage or even a flat dollar amount - almost impossible for all but the sharpest of experienced investors to sit down and truly compare loan opportunities.Now, I am a REALTOR®, I don't pretend to be an expert on mortgages - those guys make enough money putting together loans that they don't ... more
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