M先生，M太太

朋友W先生W太太邀我去他家和他们的朋友M先生M太太谈谈投资的情况。W是我两个项目的投资者，W先生和M先生在一个单位上班，他们一起吃饭时谈到我们的房地产项目，M先生表示感兴趣参股，所以就相约大家见一个面。

M先生M太太大约在55岁左右，M先生是Senior Software Consultant，M太太是Project Manager。两个人都相当成功，属于smarties之列。我向他们介绍了项目的操作方式，我做的工作，我的报酬方式，以及如果研究市场，地点，及具体的建筑，和现在寻找的地域等等。他们对投资不陌生，对如何运作公司也有自己的经验，问了很多相关问题。最后M先生说他当然要和M太太再商量，但他对这个概念非常赞同，对我的介绍很满意，他的想法是他们肯定会参与。M太太也表态，说他们可以从参加20万开始。他们的反应之快，让我感到吃惊，不知他们真到写支票时会不会退缩。从他们的年龄和收入看，他们应该有比较多的equity，如果能把他们的购买力慢慢用起来，对做项目上规模会有比较大的帮助。

大家聊天，竟然没有一个人是当地土生土长的。M先生来自多伦多，M太太来自蒙特利尔。W太太是很小就跟父母移民来的捷克人，W先生来自加拿大安省的一个小镇。我则是来自中国。虽然他们除W太太外，都是生在加拿大，工作多年，W先生比我大九岁，M先生比我大十二岁，但算起来积累的equity，他们的家庭竟然都没有我的家庭的多。究其原因，完全是我不停投资的结果。十几年前，我一个人赤手空拳来北美的时候，人家的好日子已经过了许久了。外面，夜幕已经落下，下着淅淅沥沥的小雨，远处的湖水折射出万家灯火，以及矮山的轮廓； 里面，一个英语不是母语的人给英语是母语的人讲解投资的诀窍；我也算是给中国人争了点光。

[曲院风和]

佩服。是胆量，决心，用心，坚持种种因素的综合.要学习你。

[cultuslake]

回复meierrd的评论:
1) The protection part is correct. I think buying enough insurance is the key. I am not sure about the tax advantage. For your first investment property, do not worry about setting up a company, just buy as personal. Worry about it later when you buy more properties.

4) Normally four month supply is a hot market. People nowadays talk about Texas a lot. I am starting to pay attention to Dallas...

[meierrd]

Cultuslake,
Thank you so much for the advice!
two more questions if you can help:
1. Do you need to set up a small company to do real estate? I heard some people said it for 2 purposes -- one is for tax advantage, one is for property protection (so we won't lose our own house if tenant sue us.., max lose the company..). Maybe the tax advantage is true, but I'm wondering for the latter, renter insurance should protect us, right? or the renter insurance is still not enough?
2. Right now Texas real estate markget sounds very hot, Real estate agent says the supply is only for 4 month. but if I look at realtor.com, there are so many houses on sale there for any city there. Have you heard this market? and is 4 month inventory meaning supply is really short?
Thanks!

[cultuslake]

If your house mortgage has a interest rate higher than 6.5%, you should pay down the mortgage with the 30K cash, then borrow all down payment from the line of credit. Otherwise, your way of arranging the down payment is fine.

[meierrd]

Hi, Cultuslake,
You are doing great and proud for you too!
Can I ask for some advice again?:
We're thinking to buy 2 investment houses (multi-plex), about 300K each (so totally 600K). We totally only have 30K cash, and can borrow about total 290K from bank as home equity loan with about 6.5% rate. Also other info is: For the investment house, if with 20% down pay, rest morgage rate is ~ 7.5%, if with 10% down pay, rest morgage rate is ~ 9.5%. So what we are thinking is:
1. For one house, put in 20% down pay (30K from own, 30K borrowed from home equity loan with 6.5%), then borrow rest 240K with 7.5%.
2. For another house, put in 20% down pay (all 60K borrow from home equity loan with 6.5%), and rest 240K with 7.5%.

Do you think this is the best way to enable the lowest morgate overall? Also will bank allow to do so? Any other better loan options?
Thanks in advance!