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  • Suggest You - My Worst Real Estate Investments and What I Learned From Them

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    as given a lot of grace, basically he was allowed to live rent for free for quite some time. But eventually the guy left ow
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    In doing wholesale deals there are certainly a lot of things that can go wrong. One example is a house that was bought and taken over subject to the existing financing (where the sellers mortgage remains in place and the seller deeds over the property). At first the seller seemed like a nice guy having good intentions, but he didn't pay his bills. Soon began the problems of getting the guy out of the house. The guy had come into a real hard situation, his daughter had been shot and he was given a lot of grace, basically he was allowed to live rent for free for quite some time. But eventually the guy left owi
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    taken over subject to the existing financing (where the sellers mortgage remains in place and the seller deeds over the property). At first the seller seemed like a nice guy having good intentions, but he didn't pay his bills. Soon began the problems of getting the guy out of the house. The guy had come into a real hard situation, his daughter had been shot and he was given a lot of grace, basically he was allowed to live rent for free for quite some time. But eventually the guy left ow
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    operty). At first the seller seemed like a nice guy having good intentions, but he didn't pay his bills. Soon began the problems of getting the guy out of the house. The guy had come into a real hard situation, his daughter had been shot and he was given a lot of grace, basically he was allowed to live rent for free for quite some time. But eventually the guy left ow
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    lems of getting the guy out of the house. The guy had come into a real hard situation, his daughter had been shot and he was given a lot of grace, basically he was allowed to live rent for free for quite some time. But eventually the guy left ow
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    as given a lot of grace, basically he was allowed to live rent for free for quite some time. But eventually the guy left owing a $700 bill. It would have cost more money to try to collect from him legally than we could collect from pursuing legal action. We consider that we did two mistakes in this case: first, we didn't set appropriate boundaries with the seller and the second one, we trusted people a little bit too far. So, everybody should keep in mind what former President Ronald Reagan said: “...trust but verify!”

    The next big mistake was on another subject to transaction. This guy said that all he

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