Re: Calling ALL Gurus - Posted by Bill Gatten
Posted by Bill Gatten on May 10, 1999 at 12:00:20:
My first property was an Equity Share (many moons ago). I had seen Paul Simon’s 1 hour infomercial on TV and ordered his course straight away. His infomercial was so complete that by the time his course arrived I had already bought two properties using his techniquie… both were one bedroom condos on the second floor, for which I paid full market value.
When his course arrived, the very first tape said: “Don’t ever buy condos, but if you do make sure they are at least 2 bedrooms, on the first floor only and never pay more than 75% of what anybody esle would.”
I gulped, hung in there and continued to do OK. The key is to work to generate as much cash flow as you can, find someone who can handle your management costs and cash-flow in exchange for some of the benefits your ownership can provide… then hang in there and continue to do OK.