June 7, 2008
One dollar a month? Impossible!
No, it isn't.
First, watch this two-minute video.
Second, for another horror story, plus analysis, of just how bad the situation is for banks, read this.
Third, think through the problem facing foreclosing institutions. Do they want this multiplied by ten, twenty, fifty times?
Fourth, would a bank want you in the house, making sure it's cared for, making sure no vandals are occupying it?
Fifth, would the bank like to be able to buy fire insurance? If it's not occupied by a renter, the bank can't buy fire insurance. What constitutes a renter? One dollar a month.
Sixth, can you write a motivational brochure on a house you like? If you can't, let me show you how. Click here:
I will be moving later this summer, I think. Maybe in fall. I have no intention of paying high rent rent ($50/month or more) until such time as I find a house to buy at 70% of the asking price as of this month.
Why pay rent when you don't have to?
If you are willing to move out with 30-days' notice to another house in the seller's inventory, you can rent for $1 a month.
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