“The rent covers my PITI so I bought it.”
“They had just reduced the property $15,000 so we snatched it up. I mean, that’s a deal, right?”
“Can’t miss. All it needs is carpet and paint.”
Do you like to play Russian Roulette?
Then maybe real estate investing is for you. Using the above mentioned “can’t miss” strategies is an excellent way to simulate playing Russian Roulette.
Spin the chamber, pull the trigger and see if it worked out!
There’s really nothing to gain because you already had your life. Oh, sure. There is a thrill to be had. But this is a classic case of High Risk, Low Reward.
If you are of the gambling persuasion I would urge you NOT to run a financial analysis on your next real estate investment purchase. Live life on the edge. Go ahead. Pull the trigger.