Posted by Oscar on January 08, 2001 at 23:18:08:
What about the possibility of problems that need fixing? You would need to be available to make necessary repairs (or calls to repairman) on top of Gary’s 15 minutes a month, or hire a management company. I am half way done reading Allen’s nothing down book, and found most of the concepts very appealing, although I have not purchased an investment prop yet. The question I have for Gary is, your mortgage must have a pmi payment because you dont have the req’d 20% down (unless the house appraised at a high value) so are you planning to refinance it or sell soon? Thanks!