Mo Singh
Mo Singh
Where they're buying: Dallas suburbs
Number of properties: 16

Mo Singh has been on a buying binge. In the past six months, he's bought six properties -- almost all of them foreclosed homes in and around the Dallas suburbs of Sunnyvale and North Mesquite.

Buying all in one general area minimizes the running around his duties as a landlord require. Plus, there are plenty of bargains to be found in these communities.

"Home prices have been very good there. I have no complaints," he said.

Singh recently paid $47,500 for a 1,100-square-foot, two-bedroom town home in foreclosure, almost half the original list price of $89,000. Singh put in $5,500 worth of upgrades, repairs and fresh paint and plans to rent it for $900 a month.

Finding good tenants hasn't been a problem so far and Singh believes he can easily make a 10% or more return on the place.

For now, real estate investing is a side business. But it won't be when Singh retires soon from his day job as an engineer at truck manufacturing company, Peterbilt.

At that point: "I'll go full-time into this thing," said Singh.

Last updated November 07 2011: 5:13 PM ET
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