How to make money in the housing market

[jaretac]

How do you make money in today's housing market, just look at what this guy did:

Can This House Be Saved?
By Timothy Bolger

In possibly one of the most unusual cases to emerge in light of the growing foreclosure crisis, there is alleged con man Paul Salamone, who prosecutors say claimed five foreclosed homes in Suffolk as his own, starting in March. Salamone systematically changed the locks, made renovations in the homes and then rented them out to “tenants” who thought they had found a good deal on Craigslist, authorities say. Many real landlords do advertise on Craigslist—but Salamone was different: He had no claim of ownership to these homes, according to investigators.

See you can still make money in today's housing market, you just have to have the entrepreneur spirit.

[Flag Guy]

Creative...

[brianhos]

And the tenants will probably not be kicked out, and the bank is going to lose even more $$ on this.

[drmwevr08]

We had a guy do that in Omaha several years ago. Find an abandoned property, clean it up just enough to look habitable (even marginally) and rent it to someone who doesnt know better. East money

[MNclone]

So do you take down the for sale signs while renting it out?

[Wesley]

No, you put up Under Contract yet For Sale sign to lead them on.