How To Obtain New Business
Have you seen those infomercials about buying houses with “No Money Through?” They are really well done. They supply all kinds of people offering great testimonials about how they have gotten rich, buying rental properties, with absolutely no money out of their pocket. You check this out guy, standing on the street corner, meeting someone, and he says, “I own that one,” pointing to a beautiful colonial. “I also own that one next to it, and the one two doors down, and I’ll be closing on the one directly across the path from it, monday.” He then assures us that he’s purchased 17 homes in the last eight or ten months, with zero money down near the properties. Plus, oftentimes he’s also paid no closing deals.
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As you could have already guessed, all of these things happened to me, when i had amassed 26 rental properties. In fact, oftentimes, all of the problems happened in sneakers month. Now, for awhile (when I had about 10 houses), 1 person failed to pay rent, I could cover it with the nine other payments. Even so two, three and sometimes even five tenants didn’t pay in liquids month, it was devastating to my operation. I had to try to my business account and pay up to $3,000 at your time in mortgage payments, with no income to pay for it. Plus, I had to pay a house management company to get my tenants to pay or to evict folks.
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