Posted by dutch on April 09, 2006 at 18:37:50:
Mike, you’re a “glass is half empty” kind of guy, aren’t you?
They DO pay the taxes and insurance, because I collect it from them, along with the principle and interest.
Yes, some defer the maintenance, and some end up not refinancing you out at the end of the ballon, or if you’re like my friend David Alexander, when the interest rate gets too high (he sells on an “ARM”, except it only adjusts upward).
And your down payment or Option money should be hefty enough to give them cause to vacate. But Mike, nobody said this business is without some risk.