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!
I’m like most others-I want to get out of the 8 to 5 job & make cash & stay at home & have all those good things C/S talks about. Can this realy be done? In just a few hours a week? I don’t have anouther 40 hours a week to spend on anothre job. This sounds to good to be true. If I buy the program - just follow the instructions & go for it?
Started investing about a year ago but wished I started earlier; now have $1,000 a month cash flow and increased my equity by over $30k. No money down is hard to come by but if you have good credit you can usually use a home equity loan (if you own a home), a low interest credit card, friends, or a motivated seller to loan you the downpayment. I get loans with 10% down and have no trouble coming with the 10% down using the sources I mentioned. Just make sure that you will have a positive cash flow after making all payments and other expenses! Unless I am looking for a tenant for my properties I spend about 15 minutes a month on my four properties- that is the time it takes me to go to my mailbox, pick up my checks, pay my bills and go to the bank!