Flipping

The other day I went to attend a seminar by Robert Kiyosaki. Its a very interesting seminar, very motivational. After that, my friend met his colleague there. Then she is telling my friend about this Thai guy she known from the other seminars and workshops. That Thai guy is really something, we were like talking about multi-streams of income. Apparently this guy owns a restaurant in Thailand. He mortage his restaurant, use that money bought a property then mortage that property and use that money to buy another property. Apparently he acquired coming to 20 properties in less than a month's time.

Thinking of it, it does makes sense (and cents too). Of course, when you mortage the property you must make sure that there is a positive cashflow coming from the property even after mortage. So at the end of the day, u have cashflow (although little, less the mortage payments) and you will own the property. At least for 999 years for freehold, but who can live that long. So basically this action of acquiring property through mortage the other property is called flipping. Hope its not too ambiguous but if there is any fact here that you think is incorrect you are welcome to leave a comment or shout it out in my shoutbox.

PS. Don't try to be an electrician please, so dangerous.