How Do You Make Sure The Mortgage Is Paid?

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Do any of the experienced investors here have a way to cover themselves in the event one of thier properties stay vacant longer than they expect? The reason I ask is because I have limited funds to begin RE investing and I was wondering how the pros go about keeping a cool head when this type of situation arrises.


  • Tedjr25th February, 2004

    I did a deal with my dad as partner. He put up the money to buy and make the payments. I had limited funds too and would have lost it because we had to make 15 payments on it. We both lost money on the deal. There are no guarantees. This was a large expensive home$200,000. I now deal on my own with a little help from my dad but deal in cheap houses in the $30,000 range. A whole lot easier to make a $300 payment than a $17000 payment and probably will make money on these that I am doing now. At the time we did the large house the market was flooded with large homes. Timing helps too

    Good LUCK and Thank You
    Hope this helps some
    Ted Jr

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