It would have been cheaper to take some DD training then gamble away their savings.

I think Detroit is a gamble and has never been on my radar, but I'm thinking since it's not on a lot of investors radar that it might we worth taking a second look and some real due diligence.

Originally posted by Account Closed:@Shal Patel Did you send someone out the next day to check the AC and if not the tenant can hold your feet to the fire in court and yes charge them the extra three-month rent and Texas judges don't play games if you want to take the gamble? 

All documents/transactions were done by email and using offshore India based resources.

Or are they gambling that the understaffed SEC won't prosecute? 

Here is my philosophy: Don't gamble if you can not afford to lose.If my project does not get extend, if my working visa can't be renew to stay in the country, well give the bank the property which I already have some equity in it (buy it right thanks to my agent who helped me to negotiate it price down) & absolutely I don't die to see the down payment & closing cost down the drain.Building wealth automatically and getting paid to do it.

You simply won't have enough equity to cash out refi in one year or even 3 (unless you are buying in places like CA for super appreciation (could be a big gamble on a short to mid term play).As another mentioned, buying a fixer for cash and doing the rehab yourself (with a team) would be the better choice.

First one fell out after waiting 3 weeks for off shore money financing, the second tried to use a inspector to squeeze the price that they claimed the property was in need of rehab.

Final analysis is what your willing to gamble.

I don't like to gamble, especially with the high stakes of an apartment or house.Here's a plan you could use, it was in our last email blast: Interesting meeting last Friday (Movers and Shakers) with some new faces.