Am I missing something here? - Posted by Rob Stevens
Posted by Rob Stevens on April 13, 2000 at 17:26:45:
I bought Carleton Sheets ‘No Money Down’ course.
I went through it from cover to cover (or tape to tape
When I go out into the market I find houses that cost $150,000 here (Calgary Canada) rent for $1000 or less.
Even if I put up $20,000 cash and borrow $130,000, weather from a bank or the vendor taking back a mortgage - my monthly debt payment over $1000 - never mind taxes, and other expenses.
It seems to me there is no way to buy rental property and have non-negative cash flow without putting a LOT of cash down.
Is Carleton’s method a relic of those bygone days when property value and rents were somewhat related?