Hi DAK, Welcome to the club:0/
Message 16117854
"I had owned an 88-unit (yup, lucky number and all, with pool, community center, etc) complex in Sacramento area from 1991 to 1998. Purchased at 20% below replacement value, sank to 40% below replacement value, recovered, then sold. Summing up the net net f*cking net of paperwork, repairs, evictions, legal fees, taxes upon sale, etc, the whole effort generated enough cash flow to equal a few months of (then) Intel put option sales on the equity market, provided inexpensive housing to many single parent families (>60% of residents). My result was not impressive for the effort."
Chugs, Jay |
