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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MSI who wrote (5305)9/14/2002 3:28:58 PM
From: Elroy JetsonRead Replies (2) of 306849
 
Easy to do, if one overleverages. That's the problem with "serial real estate investors", they put down 20% or less in down payment.

If "serial real estate investors" were honest, they would apply for commercial real estate loans which require a 30% to 35% down payment. But in their attempt to defraud the bank, they also place themselves in jeopardy when the real estate market weakens and rents decline. Investors who repeatedly obtain 20% down payment home owner loans for a series of rental homes are ordinary criminals. This time around I think many of these white collar criminals will do jail time.

Do this repeatedly (called "serial investing") and over 20 years you will have ...
I know a real estate agent who did this in the 1980's in Los Angeles. After only ten years, he had a spectacular bankruptcy.
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