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Revision as of 19:14, 24 May 2025
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Have you seen those infomercials about buying houses with "No Money Down?" They are rather well done. Include all types of people offering great testimonials about the way that they have gotten rich, buying rental properties, with actually zero money regarding their pocket. You see this guy, landing on a street corner, crash someone, in which he says, "I own that one," pointing to beautiful colonial. "I also own that one next to it, and also the one two doors down, and We are closing on their own one directly across the path from it, next week." He then assures us that he has purchased 17 homes in building traffic . eight or ten months, with zero money down on the qualities. Plus, in many cases he's also paid no expenses.
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Soon, this became the norm, not the difference. There were constant problems at my houses. Unhappy tenants triggered poor upkeep of the property and even more maintenance problems. About one year, once i had amassed 26 houses, I was having along with roughly 10-15 houses and/or tenants 1 week. I was evicting at least two tenants each month, and approximately four to seven tenants were either behind on rent or not paying in any way. Promises were made, payment plans arranged and few, if any, ever followed .
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