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Have you seen those infomercials about buying houses with “No Money Directly?” They are nicely done. Offer all associated with people offering great testimonials about where did they have gotten rich, buying rental properties, with absolutely no money coming from their pocket. You see this guy, running on a street corner, speaking to someone, and that he says, “I own that one,” pointing to a beautiful colonial. “I also own that one next to it, along with the one two doors down, and Soon we will be closing on the one directly across the path from it, next workweek.” He then assures us he or she has purchased 17 homes in since eight or ten months, with zero money concerning the family homes. Plus, in many cases he’s also paid no expenses.

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Soon, this became the norm, not the exclusion. There were constant problems at my houses. Unhappy tenants leaded to poor repair off the property and significantly more maintenance complications. About one year, after I had amassed 26 houses, I seemed to be having issues with roughly 10-15 houses and/or tenants each week. I was evicting at least two tenants each month, and approximately four to seven tenants were either behind on rent or paying within. Promises were made, payment plans arranged and few, if any, ever followed as a result of.

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