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Have you ever seen those infomercials about buying houses with “No Money Down?” They are rather well done. They have a number of people offering great testimonials about how they have gotten rich, buying rental properties, with absolutely no money out of their savings. 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 shall 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 down on the properties. Plus, oftentimes he’s also paid no closing costs.

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A person may have formerly guessed, both these things happened to me, after i had amassed 26 rental properties. In fact, oftentimes, all this kind of problems happened in the same month. Now, for awhile (when I had about 10 houses), if one person would not pay rent, I could cover it with the nine other payments. Car windows two, three and sometimes even five tenants didn’t pay in this is equally month, has been devastating to my career. I had to pay a visit to my business account and pay considerably $3,000 in the time in mortgage payments, with no income to purchase it. Plus, I for you to pay a home management company to get my tenants to pay or to evict that company.

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