PensiveGargoyle (![[info]](http://l-stat.livejournal.com/img/userinfo.gif){kind=small} pensivegargoyle) wrote,@ 2006-10-19 16:37:00 |
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(singing) Schadenfreude, schadenfreude, schadenfreude schnitzelbank!
I love it when someone with a get-rich-quick scheme fails miserably. It's even better when they create a blog about it so that everyone knows.
From October 2005 to May 2006 I bought 8 houses in 4 different states, mostly with the help of 100% stated income loans (liar loans). Most are fixers - I was going to rehab and flip each one within a month or so. Buying was easy, but man was I in for a surprise (or a lesson?)
http://iamfacingforeclosure.com/1/w
Of course, I don't quite get how he'd be allowed to get mortgages on 8 properties, but I suppose banks can be stupid like anyone else.
I love it when someone with a get-rich-quick scheme fails miserably. It's even better when they create a blog about it so that everyone knows.
From October 2005 to May 2006 I bought 8 houses in 4 different states, mostly with the help of 100% stated income loans (liar loans). Most are fixers - I was going to rehab and flip each one within a month or so. Buying was easy, but man was I in for a surprise (or a lesson?)
http://iamfacingforeclosure.com/1/w
Of course, I don't quite get how he'd be allowed to get mortgages on 8 properties, but I suppose banks can be stupid like anyone else.
