unbridled greed

A mate of mine lives in the United States. I've known him for about 12 years. He holds a physiotherapy degree and worked in the profession for about 15 years. Then the housing bubble hit.

He went from a physiotherapist with no real estate knowledge and experience to owning forty (four zero, 40) properties in 2 years.

Let me repeat that last sentence to assure you there are no typos. He went from being a physiotherapist with no real estate knowledge or experience to owning 40 properties in 2 years.

These properties are a mixture of units, houses, commercial properties and a restaurant chain (yes a restaurant chain).

How did he do it?

Answer: The zero down loan !

Is he broke?

I don't know, I emailed him last week and am yet to hear back.