Have you ever seen those infomercials about buying houses with "No Money Down?" They are very well done. They have a number of people offering great testimonials about how they have gotten rich, buying rental properties, with absolutely cash out of their safety pocket. You see this guy, standing on a street corner, talking to someone, and he says, "I own that one," pointing to a beautiful northeastern. "I also own that one next to it, and the one two doors down, and I'm going to be closing on the one directly across the street from it, next seven day period." He then assures us that he has purchased 17 homes in dispersed in the remaining eight or ten months, with zero money concerning the properties. Plus, in many cases he's also paid no closing costs.
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Tip: Each day limit your customer's decision making to either "Yes. I'll buy." or "No. I cannot buy". Don't risk losing them by including "which one" choices.
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HHC Soon, this became the norm, not the exception. There were constant problems at my houses. Unhappy tenants resulted in poor upkeep of the property and additional maintenance hardships. About one year, after i had amassed 26 houses, I was having issues with roughly 10-15 houses and/or tenants 7 days. I was evicting incredibly two tenants each month, and approximately four to seven tenants were either behind on rent or not paying any kind of. Promises were made, payment plans arranged and few, if any, ever followed through.
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