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This is what people who buy houses, using the No Money Down plan envision happening.It's not hard to buy a house without any money down. Why not five, ten, and fifty houses? learing from home I didn't consider the cost of maintaining these houses, missed rent payments, and the possibility that renters might stop paying. It was a time-consuming, expensive, and jasa SEO website jasa costly undertaking.

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I purchased eight houses within six months - all with loans from the wholesale lender. These lenders should be concerned about all of my debt, but they continued to approve loans based upon my good credit and rents which covered the mortgage payments. The biggest problem, which I wasn't able to spot, was that most rents were only $50-100 higher than my mortgage payment.

As you may have already guessed, all of these things happened to me, after I had amassed 26 rental properties. In fact, oftentimes, all of these problems happened in the same month. For a while, when I owned about 10 houses, if one tenant failed to pay rent, the nine other payments would cover the difference. My business was devastated when multiple tenants failed to pay their rent. I had to pay $3,000 in mortgage payments to my business account. There was no income to cover it. I also had the expense of hiring a property management agency to get my tenants to either pay or evict me.

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