Using Those Business Cards

· 2 min read
Using Those Business Cards

Have you seen those infomercials about buying houses with "No Money Down?" They are really well done. They have all kinds of people offering great testimonials about how they have gotten rich, buying rental properties, with absolutely cash out for their pocket. You see this guy, standing on the street corner, talking to someone, and he says, "I own that one," pointing to a stylish colonial. "I also own that one next to it, along with the one two doors down, and I am closing for your one directly across the street from it, next time." He then assures us that he has purchased 17 homes inside last eight or ten months, with zero money down concerning the properties. Plus, in many cases he's also paid no closing costs.

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Soon, this became the norm, not the omission. There were constant problems within my houses. Unhappy tenants caused poor repair of the property and payday loans no faxing maintenance obstacles. About one year, after I'd amassed 26 houses, I got having problems with roughly 10-15 houses and/or tenants 1 week. I was evicting at any rate two tenants each month, and approximately four to seven tenants were either behind on rent or not paying almost all. Promises were made, payment plans arranged and few, if any, ever followed through.

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