Quote:
Originally posted by ajpiii
Real Estate... Cant loose money in Real Estate.
|
That's an erroneous statement. You can lose your shirt in real estate just like anything else if you don't know what you're doing.
I have one friend who bought 24 rental home properties. She thought it would be a breeze to find tentants. Well it wasn't as easy as she thought and she had some nightmare tenants in one that played every game in the book to stay in the house without paying. Others messed up her homes bad. Some of the homes she bought had roof problems. It was one thing after another and she's just about at the belly up point now where the bank is about to foreclose on a bunch of her properties. She just didn't plan her cash flow well.
I lost $500,000 myself in a real estate deal that went south.
So don't ever think real estate is a sure thing.