Melton's blog

Rental Prison

August 2nd, 2012 | posted by Melton

I'm locked in to my rental properties and don't know how to get out.
I started buying and selling properties 20 years ago and have always had several rentals. When things got tough a few years ago I could'nt sell off any because I owed more than I could get for them and it snow balled to barely breaking even every month and putting great strain on my credit, from 817 to 650. Now I can't borrow money and am out of cash. Taxes and insurance along with evictions and vacancies are eating all my positive cash flow everymonth and it seems to be never ending.
WHAT CAN I DO TO GET BACK IN THE RIGHT MINDSET AND START MOVING POSITIVELY?

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