ouch $9,800/month negative cash flow

[fendter619]

A friend of mine has been an avid real estate speculator for the past 4 years. I just talked to him a couple of days ago and he confided that he has a $9,800/month negative cash flow. He and his girlfriend had purchased 8 properties through various sources including Marshall Reddick seminars.

He also confided that they are living of their credit cards and his income has substantially gone down since he is a Mortgage Broker. Surprise, surprise.

What flabbergasted me is that he still thinks that they can manage to stay in the game and avoid foreclosures/BK. Honestly, I don’t see how. His savings of about $150k can dwindle mighty fast with this kind of negative cashflow.

All I can say is: ouch.

[patientlywaiting]

He’s hoping for a Spring 2008 rebound.

Those perma-bulls will get burned real bad and deservedly so.

[patientlywaiting]

He’s hoping for a Spring 2008 rebound.

Those perma-bulls will get burned real bad and deservedly so.

[patientlywaiting]

He’s hoping for a Spring 2008 rebound.

Those perma-bulls will get burned real bad and deservedly so.

[patientlywaiting]

He’s hoping for a Spring 2008 rebound.

Those perma-bulls will get burned real bad and deservedly so.

[4plexowner]

and will have used up their savings before the final crash and burn

“not a pot to piss in” – that will be an apt description of many housing speculators in the next few years

[4plexowner]

and will have used up their savings before the final crash and burn

“not a pot to piss in” – that will be an apt description of many housing speculators in the next few years

[4plexowner]

and will have used up their savings before the final crash and burn

“not a pot to piss in” – that will be an apt description of many housing speculators in the next few years

[4plexowner]

and will have used up their savings before the final crash and burn

“not a pot to piss in” – that will be an apt description of many housing speculators in the next few years

[snail]

why using CC when he is still have 150K in the bank?

[snail]

why using CC when he is still have 150K in the bank?

[snail]

why using CC when he is still have 150K in the bank?

[snail]

why using CC when he is still have 150K in the bank?

[justbought]

cash out and go bankrupt

[justbought]

cash out and go bankrupt

[Author]

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