DougHuntingdon wrote:Perhaps too many are watching Carleton Sheets' infomercials and think real estate is an easy get-rich-quick scheme at which any amateur can succeed.
This is exactly what happened here I believe. It seems he rolled, equity over very quickly. Nothing illegal, just working the system. Problem is when you work anything to the limits, failure is just a trip away.
Housing is no longer liquid, there were years about a decade ago, but those days are gone I believe. I cannot speak for Dave, he dresses like Donald Trump, while I prefer jeans and shirts. We both believe rentals are easy. Keep them like an apartment you would like to live in. Go figure
Another thing I believe that might makes us different, we are not afraid waiting for good tenants. Yes we both rent to minorities, but we want people that like the property and will respect it. Seems simple.
I know this sounds odd. But I own a rental in my neighborhood. Where I grew up, and now live. I owe it to my neighbors to find good neighbors, and good tenants. Don't need crack heads, don't need to hear it at the block party!