Let me first tell you a little bit about my background. A few years ago, I was buying as many homes as I could with traditional financing. But when the banks started telling me that I couldn’t buy any more homes, I started buying homes creatively – thru “subject-to” and “sandwich lease options” methods. In the course of 18 months, I bought over 16 homes!
Yes, I owned 16 homes!!! I thought I had it made. I was making $100 - $200 net cash flow on each house. My passive income was growing, and I was steadily getting out of the rat race. I was a “Successful Real Estate Investor” now – or so I thought!
But guess what? I quickly discovered that while I might have been Equity Rich… I was seriously Cash Poor. I had lots of equity, but no cash to pay the bills!
(How many of you know - you can’t eat “equities”?)
But let’s look at my situation a little deeper… All that equity I thought I had in those 16 homes… was a HYPOTHETICAL MYTH. All the “equity” I thought I had&
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