How to Buy and Sell Homes Without Money

Of course that is a ridiculous title, but it is something a friend of mine is trying to get me involved with. He does not know that I already have some involvement with a couple of rental homes. A friend of mine has been investing in rental properties with carrollton since he was about 22 or so, and I have been helping him out through the years. So I know that it is hardly that simple. Andy, his father in law, myself and some other individuals take risks when we buy a property. Usually we get something which is derelict to some degree or another, gambling that we can fix up a place and then rent it out at a reasonable profit. It is really risky if you run into the sort of economic conditions which we have had in the past couple of years. It has been really rough for Andy and people like him, because he was not that diversified. He was in real estate and when it took a beating so did he.

I was never into it so deep, because I am too chicken to take the sort of risks you need if you want to do this sort of thing like the players do. My friend who thinks you can get houses without putting any money down does not understand that there is a big risk involved in the process. You could very easily find it difficult to get a place rented out after you have put a lot of time and money into getting it ready to lease out. Once Andy told me that they had a house ready to go and then someone got shot about half a block away. All of the people he wanted to rent it out to thought the place was a war zone, although nothing hardly happened there.

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