WORST Way to Invest in Real Estate

http://www.freedommentor.com/worst-way-invest-in-real-estate Discover the WORST method to purchase real estate. This is the other side … real estate investing gone bad.

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  1. TheUntubed says:

    Is it better to try to pay cash for a condo for rentals, or just get a loan
    and use a small downpayment. 

  2. Todd Lavigne says:

    Great information that most t.v. shows fail to point out… the risk side
    of real estate investing
    Investing 101…..the amount you can lose is more important to the amount
    you can gain.
    This applies to real estate ,stock market, bonds,commodities and everything
    else.

  3. Richard Patriarca says:

    Hey phil u do a great job. Im looking into buying rental property and i
    will def use your videos as guidelines to go by.. u break things down easy
    and simple.. great videos 

  4. Dusty Jackson says:

    Lol indeed. I’ve spent hours watching your videos. They’re great! I’ve
    recommended them to several family members and friends. Keep up the good
    work and thank you for taking the time!

  5. BeachBoy4sh@w says:

    I’m 15 and really want to become a real estate investor… I want to flip
    homes then sell for a profit, is there as many risks with that as there is
    with the things you spoke about in the video?

  6. Give Freely Online says:

    So many comments about the wrinkled shirt. Maybe he is too busy making good
    deals to run an iron people! LOL

  7. elena efremova says:

    how to find out before bying if any risks ia possible will happends

  8. Corey Kennedy says:

    Last year bought a crack house in Regina. Worst on the block. Just drove
    by as seller was putting sign up. I bought it almost then and there
    thinking it was the best deal ever. I paid 121,000 for something that was
    worth 100. I rehab it myself with another 30,000. Im an electrician and
    know many other contractors. I went to sell it in the spring (4 months
    later) but huge builders overbuilt and the market dropped. It’s worth
    about 130 so im down 20,000. I’m renting it for 1050.00 per month and
    waiting it out. Hopefully by next summer inventory will clear and it will
    come up 10,000 and with the rental income i can get out flat. My fault for
    being impatient, and not doing my homework. Reno went well. Didnt foresee
    market dropping. Not the end of the world but definately a waste of time
    and opportunity. 

  9. Riley Higgins says:

    This was a great video. I purchased my first tax forclosure several years
    ago on the court house step. When doing research at the tax office I found
    where I thought the property was located on the map. I drove out to see the
    property and found it had a mobile home that was vacant and looked to be
    intact. So it went real cheap at auction I paid $700. I thought i was going
    to be the next big investment star as i left witb my new tax deed. Turns
    out I purchased the property next to the property I thought I was getting.
    Only this property has someone living in the house and I have not had the
    nerve to deal with this problem of making them leave or pay me back. 

  10. Steve Pigg says:

    Hi Phil, I currently have 3 rental properties that I inherited, that are
    managed by a full service rental company @ 8% per. I would like to purchase
    more properties, and am looking for information on buying rental properties
    with CASH. Pros and cons & what to look for when researching properties. I
    have a few properties in mind in the 35 – 50k range that are for sale as is
    where is (obviously). I have a list of guys in place that can handle most
    electric, plumbing, roofing, carpentry and maintenance. One of my main
    questions is, on my initial viewing of a property with the owner or agent,
    can I have one of my experienced maintenance guys come with me to do a once
    over to look for anything that could be a major problem with “the bones” of
    the house? Is that allowed? Again, I have never purchased a rental property
    before, so any info that you can give (good and bad) for a CASH purchase
    and what to expect would be great.
    Thanks, Steve

  11. Skidom monteiro says:

    very very good

  12. Ryan P says:

    Hi Phil,

    I just encountered your video and I am very glad you’ve shared this
    information with us. It’s one thing to learn all about taking risks and
    being a winner in real estate investing (or investing in general), but
    losing is a part of being a winner. This however, enables the person to
    understand some of the WORST things that can go wrong to somebody if they
    don’t pump the brakes and analyze the deal prior to getting involved. So
    again, thank you for sharing this advice with us.

    PS. That story about the guy buying a subdivision and having to lower the
    lease payments and losing money before the tenants move in and have in
    transform into a ghetto is absolutely awful!

    Thanks!

  13. James Mikel says:

    Nice Job, I just ran into your video. I frequently receive calls from
    investors in my area. If you like stories, here’s one for you. Since most
    counties in Florida have transferred from court house to online auctions
    there is a growing number of calls I receive from people who, just as you
    described, Didn’t Understand The Deal. Judicial foreclosure auctions
    conducted by the county Rule#1. First In Time First In Priority. If the
    second mortgage is the foreclosing party and you win auction the first
    mortgage is still superior. You will have to pay it. Rule#2 Associations.
    If it is an association that is foreclosing and there is a mortgage on
    the property it is superior and you will have to pay it.

    One caller had bought a property at the online Miami-Dade County
    foreclosure auction and paid $79,000. They believed the condo was worth
    $276,000 and the POA was the foreclosing entity. He called me and asked if
    I wanted to buy their interest in the property. The first mortgage that
    needed satisfied was $418,000. After the man denied the existence of the
    first mortgage, he then admitted it was true. Hard to deny when I’m on the
    county website and looking at the loan. He then denied that the 1st
    mortgage was superior. He then told me he knew it was true and wanted to
    hire me to help him get his money back. “Sorry, that isn’t possible unless
    there is a found breach of civil procedure and I’m not an attorney.”

    .