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[quote=Anonymous][quote=Anonymous][quote=Anonymous]

That said cash is king to buy rentals. Hard money discount. I recall I dated a girl her mom had around 200 properties. 199 paid for cash. What she did was mortgage prior purchase to buy next first few. From there she used cash flow to buy more. She buy cheap.

All her transactions are like straight transactions. She never actually records the rent. She lets it pile up then buys another house. It was truly hilarious out of a movie. She take one of her large sons on rent day but both busy I went with hey and collected at least 90 rent payments nearly all cash. Once in a while check made to cash. No one had a lease. A lot were illegals or poor credit from kid. That day in 1995 we picked up around $80,000 in rent.

She was a character. The town newspaper was calling her out on suspicion so she bought town newspaper. She also randomly collected stuff. Like tiny weird small run down commercial properties if she knew developer was trying to build. She also had a realtor license and own real estate business.

She is still alive as I see her on Facebook. When she dies that will be interesting. She has four kids and multiple grandkids so assume she knowing her is transfering properties. Even in 1996 she had ski houses, Florida condos, her crown jewel 200 buildings on a rich Long Island town. She literally owns 10 percent of town but through lllcs and stuff who knows she started this in 1972.

My cousin on other hand legally owns 3,000 homes

[/quote]

In other words-a tax cheating slum lord. Got it.[/quote]

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