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The deal\u2019s numbers seemed solid to Rick Ginn from Flip with Rick from the start. The house\u2019s PITI was $960, and the rents in the area were between $1400-$1500. It had great cash flow and the seller didn\u2019t want to make another mortgage payment. Because she didn\u2019t have enough equity, Rick did a subject-to on the house.

Rick does not love being a landlord. He has a hard time saying no to tenants, and he\u2019s inclined to believe their stories. So he turned to someone else to help him get his new property rented out. And when a buyer offered to pay a year\u2019s rent upfront, Rick was just thrilled.

The first inkling he had that something was going down at the house was when he saw his company\u2019s name and a picture of the house on the front page of his town\u2019s newspaper. The next clue was when the FBI called him up to talk about his role in their newest drug bust.

It\u2019s hard to decide which was more stressful for Rick: the potential damage to his reputation or the real damage he had to repair on the property. With six HVAC systems and a massive gun safe to get rid of, Rick spent months and months trying to get the property back into a liveable condition. And of course, reconnecting the electricity to the power grid was incredibly hard when the power company was ticked off at him.

This deal took a lot of confidence out of Rick, and he generously shares how he changed his real estate strategies to make up for the weaknesses this whole experience exposed in his business. Pull up a chair and listen closely so that you can avoid the litigation nightmare that proceeds a drug bust.

What's Inside:

\u2014As the self-proclaimed, \u201cworst landlord in America\u201d, listen to Rick\u2019s advice about how to avoid wrecking your properties by outsourcing your weakness.

\u2014Great cash flow can potentially blind you to other problems in a subject-to.

\u2014How Rick vets tenants and property management companies today to protect himself from himself.