Let’s start with the truth. What is the best way to buy real estate without money down? And what is the best way to be a landlord? The first thing you need to know is that they are both very bad ideas. Let me share my personal experience in these areas. I began buying rental property around 10 years ago. The first property I bought was a deal orchestrated by some real estate con artist, who told me I needed just $2,000 to take ownership of this home and, in the process, help out a woman who was about to be foreclosed upon.
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This was the norm soon, not the exception. There were constant problems in my houses. Unhappy tenants led the property to be neglected and even more maintenance problems. After having acquired 26 houses, I was experiencing problems with about 10-15 houses or tenants per week for a year. I was evicting at least two tenants each month, and approximately four to seven tenants were either behind on rent or not paying at all. Promises were made, payment plan arrangements were made, click here but few, and if any, actually followed through.
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