About a year ago, I started to notice that the Real Estate market started to change. Rates were starting to go up even though they where at the lowest in 30 years.

Started to notice that many homes where not selling so I decided to put one of my homes on the Market in Kings County.

I had bougtht it for $163,000. Only put down 5% down. I decided to sell it for a wopping $245,000. The buyers expections was to get in as low as possible. So she did only putting down 10% and I would carry 10% on top of it.

Boy was I glad to Listne to my Mentor Demas Lamas. Today, that home is given back to me since she could not make the payments. I resold it for a wopping $300,000.

So if you set yourself to carry the note for 2 years, you never know if they’ll be able to pay the payment. Thanks To Demas Lamas.
 
Rick Garcia
rgarcia@1stmetro.net
Mortgage Consultant
1St Metropolitan Mortgage.
Fremont,Ca. 94536