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Hey Mike and other real estate gurus

Posted By: 4Birdman On: 01-09-2009 @ 07:31:48         Reply | Edit
I know Mike has a rental houses, don't know if you guys can help me out with some questions.

I have been interested in doing this for some time now, and am REALLY interested now that the market is getting flooded with cheap houses.

I know that it's probably not the best market to get into, but I'm really considering looking into picking up a few HUD homes. I have been doing a lot of work with a local charity that rebuilds cars for people who are trying to get their lives back together. A lot of these people are living in shelters or with family because that is their means of getting to work or school. These people are highly screened and every one of them is headed in the right direction.

I don't know, probably a bad idea, but it's something that's been on my mind. One of my wife's friends is married to a guy who does something similar to this and he enjoys it, but wanted to see what you guys think.
--

1998 Trans Am - A little bit stock
1974 AMC AMX - The Grape Ape - 401/4-spd
PatriotDream.org - Help build a soldier's dream car

Posted By: shocktrp On: 01-10-2009 @ 00:02:25     Reply | Top | Edit
I know a guy who picks up 3 family houses in NYC. He has an in with someone at the housing authority who only sends him "good" tenants.

You can get really screwed with bad tenants - the rent won't cover the damages.
--
http://obamaclock.org/


"I never drive faster than I can see."

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