The St. Louis Post Dispatch did a story today on one man’s venture into real estate in the city of St. Louis, How not to get rich in real estate: One man’s story. Mr. Doug Hartmann, like many investors, saw opportunity in his city, with good interest rates and extremely affordable properties. He built up a mini rehabbing empire, starting from his first deal, a condo development project.
With cash from investors and banks, Hartmann controlled hundreds of properties and made his investors a lot of money. The empire grew and grew until it imploded.
I highly recommend reading this article if you’re at all interested in becoming you’re own real estate magnate, or if you feel like giving money to that easy-going guy whose got a great deal for you that you just can’t lose with.
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Article Author: Joshua DorkinJoshua has written 570 articles for us.
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Joshua Dorkin (@jrdorkin) is the founder and CEO of BiggerPockets.Mr. Dorkin's vision for BiggerPockets has helped to propel it into becoming one of the top real estate destinations online. His vision for the site and its future has brought national press attention to both Mr. Dorkin and to BiggerPockets.
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