Once again, I am not in my car while I'm recording my episode. Is that cheating?
Anyway, I was just on the phone with some friends and we had a discussion about real estate gone bad.
For instance, buying a subject to, then selling it as a lease option. This just plain does not work. I know people who did it about 50 times and they're still digging out.
Listen and learn…
What’s inside:
- Learn specifically what not to do
- Avoid subject to deals
- If you do them be extremely careful with valuations
- Be extremely careful about borrowing on these deals
Mentioned in this episode:
- Joe’s Podcast on iTunes: Real Estate Investing Mastery Podcast
- Podcast Hotline: 636.255.8815
- Joe’s Coaching Program: Joe McCall Coaching
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Doesn’t matter subject to or lease option. Your buddies set up bad deals.
#1 is. Must be a deal and it must afford to pay for itself.
#2 is. Always have reserves.
#3 is. Look at your Cashflow to obligation method. In my world. 1 month vacancy can’t exceed 2- 3 monthd Cashflow.
Just my opinion.
Really good points, Jonathan. Thank you… – Joe