Saturday, June 27, 2008
Get more tips on investing in foreign real estate in International Living Postcards—Saturday Edition
I met an investor recently who had created a big, profitable portfolio of rental houses in the Boston area. He was highly leveraged, but he had positive cash flow. Mortgage payments were made. Repairs were covered. And there was a nice bit left over at the end of each month. Life was good...until the local economy skidded. In a matter of a few months, as jobs were lost and people moved out of the area, this guy found himself with negative cash flow. Long story short, he eventually lost most of his houses to the bank.
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