Posted by Rich-CA on June 10, 2007 at 21:28:58:
Got started by accident. When we bought our house, you could not sell condo in the SF Bay Area to save your life (just looked over the papers and we had a 15% ARM). Needed to do something because we could not pay two mortgages (both with double digit interest rates - and lenders had suspended approving fixed rate loans). So we rented the place out. Still lost money (rents and sales prices have little relationship except in 5+ unit properties).
I wish I’d started reading sooner, stuck to the good advice I was given, and ran it like a business rather than a side activity.