Mortgage, I think is one of the important tools that we can leverage on to get as many as property we can. With a mortgage, we can invest in many properties with low capitals.
However, there are loopholes that we might lose money to banks or lenders - Closing cost of a mortgage. If we don't pay attention on this, we might get a mortgage with higher expenses and affect the ROI of a real estate investment.
Don't worry, bankrate.com did a great job and have a survey results on the average closing cost of a mortgage. You might check it out at Bankrate.com here.
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This is very true, and needs to be looked at. It is very easy to get into an investment thinking that you will turn a profit, only to find exit costs as costing more than anticipated.
Thanks for an insightful post,
Mike.
Hi Mike, thanks for your comments.