A Real Estate Horror Story: What Every Investor Needs to Know

As real estate investors, we love a good deal. But sometimes, what seems like a dream investment can quickly turn into a nightmare. Today I’m sharing one of my real estate horror stories that still sends shivers down my spine.

It all started with a property in Michigan. It was a steal—just $35,000! I couldn’t resist. I put the purchase on two credit cards with 0% interest for 12 months (talk about creative financing, right?). The cherry on top? The property already had tenants living there, paying $1,450 a month. It seemed like the perfect setup to put on autopilot since I didn’t live in the area.

I hired a property manager to handle everything, and I thought I was set. I was already mentally counting my profits. But then… the first rent check bounced.

I wasn’t too worried at first—these things happen. My property manager quickly started the eviction process. But, as luck would have it, the local courts were backed up, and the eviction dragged on for six long months. 

Six months of no rent. Six months of watching my so-called “dream investment” turn into a money pit.

Finally, after what felt like an eternity, we got the tenants out. But just when I thought the nightmare was over… things took a turn for the worse.

What happened next? Well, that’s a story for another day.

The lesson here? Even the best-laid plans can go awry. Always be prepared for the unexpected in real estate investing—especially when dealing with long-distance properties and tenants you don’t know.

Want to hear the rest of the story? Stay tuned for the next chapter in this real estate horror tale!

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