I remember a Money Magazine issue, which had an article called: Nothing Down Hoedowns. It was a concept where you would pay a fee
to attend a seminar on how to buy rental property with no money down. The article suggested this could be risky, to say the least. But,
people with no experience would form a group and buy. This is from memory and I don't know how these groups were formed or anything
else about it really. Other than I knew 1 man who had done this. He had to keep putting money into the property to keep it rentable.
And that the location was Dallas Texas. Where the real estate market went very soft before 2007. Lots of vacancies in apts around Dallas.
So, I wonder if the properties in this situation appreciated, which would be necessary to make the buyer money.
I won't call it investing. Because I have a feeling the only one who made money is the guy giving this kind of seminar.
Does anyone know more about this scream to make money (ie a study or article)?
Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
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