Talk about being leveraged to the eyeballs...Dean Foust
This article in one of the San Francisco newspapers talks about a single mother of three, who following a divorce, decided that investing in real estate would be her ticket out of her troubles. She bought one fixer-upper, then a second and...today she has eight vacation rental properties that have enabled her to make $1.3 million in equity since she began. But now she has $2.3 million in mortgage debt and negative cash flow that ranges from $5,000 to $15,000 monthly depending on the season. Sorry, I don't have the stomach for this...
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