Stamford Foreclosures
Is this a smart idea?
I was thinking about how in some places such as New York City, Stamford Connecticut, and many places in California, the monthly rent is about $2,200-$3,000 a month; Which is the same amount of money that could be used to pay the house every month. I was thinking, what if I bought homes in foreclosure and then rented them to people so that the rent they would pay would match or be close enough to the amount I’d have to pay every month for the house. If I did this with around 10 different homes, and waited the amounts of years it would take to pay them off (with the money I’d get from rent), I would practically have only payed a good small percentage of the house and be able to sell it (it, as in selling the house) for an extremely higher amount then “I” myself had to pay. Is this idea good?
in theory
but what usually happen is the renter skip paying for months and by law you can’t evict them if they have children
then after that loss they trash the place to the point of total remodel costing tens of thousands sometimes
after that horror you rent to another only to have a previous renter sneak in with a copied key and torch the place
true story
gotta be careful = being a landlord ain’t what you think it is – its flippin dangerous
remember – if they are in a position to have to rent that means that they can’t purchase for them selves – if their credit is that poor that should tell you something in advance
Stamford Foreclosures, FANNIE Owned Home for Sale – 8 Southwest Dr, 06905
