Investor · ND · Member since 2021 · 49 posts · 16 votes
Hey, BP Crowd!
I'm curious to hear people's stories of someone who wanted to invest in rental real estate but got in over their heads through taking on too much debt, stumbling during rising interest rates with an adjustable rate mortgage, etc. What happened and what could have been done to avoid this?
We spend so much time focusing on the positive but learning from mistakes also makes us better! Thanks for sharing!
If you listen to my podcast episode (in my signature, below) you can hear my story of building a house and almost going bankrupt. I used a construction loan, which ended up parceling out funds so slowly and erratically that I had to use my own cash to keep construction moving while waiting on funds, and I ended up selling that house at a loss to keep from losing both houses. I should have kept it as a rental but it never even occurred to me at the time (almost 25 years ago).
