GoFuckYourself.com - Adult Webmaster Forum - View Single Post - I am thinking about investing money in foreclosure real estate and renting it out.

Holly · 07-14-2008, 09:31 AM

I know someone who has been doing this for about 10 years. Buying really cheap little houses and renting them out. A lot of them were either cheap enough to pay cash, or he took 5 or 10 year loans. The thinking was that by the time he retired, they'd all be paid for and he'd have the income to supplement his retirement.

He's now at that point, and sick of all the hassle that comes with the upkeep. He said it's constantly something. So now, he's fixing a lot of them up, and selling them outright. For any new houses he buys, he now only does what he calls "owner financing", or basically a lease sale. The tenants buy the house from him and are responsible for all the upkeep and maintenance. If it ever gets to a point where they can't pay, he gets the house back and does it all over again with a new buyer.

07-14-2008, 09:31 AM
Holly Too lazy to set a custom title Join Date: Jun 2003 Location: Jesusland Posts: 10,017	I know someone who has been doing this for about 10 years. Buying really cheap little houses and renting them out. A lot of them were either cheap enough to pay cash, or he took 5 or 10 year loans. The thinking was that by the time he retired, they'd all be paid for and he'd have the income to supplement his retirement. He's now at that point, and sick of all the hassle that comes with the upkeep. He said it's constantly something. So now, he's fixing a lot of them up, and selling them outright. For any new houses he buys, he now only does what he calls "owner financing", or basically a lease sale. The tenants buy the house from him and are responsible for all the upkeep and maintenance. If it ever gets to a point where they can't pay, he gets the house back and does it all over again with a new buyer. __________________ War National Damn Champions Eagle