Quote:
Originally Posted by burn_this_city
I dunno what kind of credit people have to get a 6-9% mortgage, but I don't think its fair or good. Seems a bit riskier than just putting your money in SPY.
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They're usually self employed. And their credit is not usually bad. At any rate you can at least see their credit before you decide to lend or not. But the most important thing is that they always have a very substantial down payment to create the ltv I need. People are not super anxious to jeopardize their own 200k investment.
The SPY isn't a bad option either...if you know what you're doing. It's better as far as taxes go too.