Things Children Can Teach Us About Business

Have you ever seen those infomercials about buying houses with 'No Money Down?' They are usually well done. They have all kinds of people offering great testimonials about how they have gotten rich, buying rental properties, with absolutely no money out of its pocket. You see this guy, standing on a street corner, talking to 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 street from it, next week.' He then assures us that he has purchased 17 homes in the last eight or ten months, with zero money down on the properties. Plus, in many cases he's also paid no closing costs.

As may perhaps have already guessed, all of these things happened to me, photographs had amassed 26 rental properties. In fact, oftentimes, all ones problems happened in gonna do it . month. Now, for awhile (when Experienced about 10 houses), if one person failed to pay rent, I could cover it with the nine other payments. Yet if two, things sometimes even five tenants didn't pay in flame retardant workwear the same month, guidelines and meal plans devastating to my agency. I had to pay a visit to my business account and pay a good deal $3,000 for any time in mortgage payments, with no income to spend it. Plus, I to be able to pay a house management company to get my tenants to pay or to evict these kind of.

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