A house is the biggest investment most people will ever make but the housing market might flip when we least expect it. Many people will tell you real estate is a no-lose proposition and you don’t need money to put down as long as you buy in the right locations. To show you why that’s not always right, meet Casey Serin, a young man who bought eight homes in eight months through no-money-down financing and became addicted to house flipping. Now he’s about $1.7 million in debt with mortgages and unsecured debt.
If you don’t want to bet the farm, you still have options for home ownership. In Investing 101, Pam and Jack show viewers less risky ways to invest in real estate, with help from the research firm Morningstar.
The Scam Alert gives you the real scoop on no-money-down real estate deals. Crooks use this lucrative-sounding method as the perfect message to capture eager investors — no matter how wealthy or savvy you are.